Data / Crowdfunding / Pennsylvania / Wearwell, Inc.
Wearwell, Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $1,070,000 (2020)
Wearwell, Inc., a corporation in Philadelphia, PA, filed a Form C with the SEC on April 14, 2020 to raise $25,000 to $1,070,000 in Crowd SAFE Units of SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on September 30, 2020. In its most recent fiscal year it reported $138,994 in revenue and a net loss of $113,488.
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- Website
- www.shopwearwell.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 1410 N 31ST STREET, Philadelphia, PA 19121
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- January 1, 2020
- SEC CIK
- 0001799584
Offering terms
From the amendment filed April 14, 2020.
- Security
- Crowd SAFE Units of SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $1,070,000
- Deadline
- September 30, 2020
- Portal compensation
- 6% of the amount raised in the offering.
Financials
From the Form C-AR filed April 28, 2021.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $138,994 | $102,316 | sec.gov |
| Cost of goods sold | $55,797 | $57,157 | sec.gov |
| Net income | $-113,488 | $-118,957 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $204,945 | $55,045 | sec.gov |
| Cash | $156,758 | $27,097 | sec.gov |
| Accounts receivable | $1,625 | $2,352 | sec.gov |
| Short-term debt | $26,814 | $56,793 | sec.gov |
| Long-term debt | $483,366 | $190,000 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 28, 2021 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 28, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| October 1, 2020 | Progress update | $25,000 | $1,070,000 | September 30, 2020 | The Offering closed successfully on 10/01/2020, having received investment commitments of $107,059, although a final accounting has not taken place. | sec.gov |
| April 14, 2020 | Amendment | $25,000 | $1,070,000 | September 30, 2020 | (i) provide information regarding the Company's intermediate closing of this Offering, (ii) provide updated financial statements to include the Company's fiscal years ending 12/31/2018 and 12/31/2019, and (iii) extend the Offering deadline to 9/30/2020. | sec.gov |
| February 14, 2020 | Offering | $25,000 | $1,070,000 | April 29, 2020 | sec.gov |
Updated April 28, 2021. Read from SEC EDGAR. Public domain (U.S. government work). Financials are as each company reported them in its Form C, unaudited unless the filing says otherwise. Websites are the ones the companies declared to the SEC. Free to reuse with credit to SpecStream under CC BY 4.0. Spot a wrong value? Write to [email protected] with the link to this page.