Data / Crowdfunding / California / WEFUNDER, INC.
WEFUNDER, INC.: crowdfunding raise on Honeycomb Portal LLC, $50,001 to $4,999,997 (2022)
WEFUNDER, INC., a company in San Francisco, CA, filed a Form C with the SEC on November 1, 2022 to raise $50,001 to $4,999,997 in preferred stock through Honeycomb Portal LLC. The offering closed on November 1, 2022. In its most recent fiscal year it reported $10,121,151 in revenue and a net loss of $5,209,316, with 45 employees.
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- Website
- wefunder.com
- Funding portal
- Honeycomb Portal LLC
- Address
- 1885 MISSION ST., San Francisco, CA 94103
- Legal form
- Other
- Jurisdiction
- DE
- Incorporated
- June 1, 2012
- SEC CIK
- 0001641389
Offering terms
From the amendment filed November 1, 2022.
- Security
- Preferred Stock
- Price
- $3.58
- Target
- $50,001
- Maximum
- $4,999,997
- Deadline
- November 1, 2022
- Portal compensation
- <p>5% of total offering amount raised, and to be entitled for reimbursement for any out-of-pocket third party expenses it pays or incurs on behalf of the issuer in connection with the offering.</p>
Financials
From the Form C-AR filed April 28, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $10,121,151 | $9,864,058 | sec.gov |
| Cost of goods sold | $224,066 | $898,238 | sec.gov |
| Net income | $-5,209,316 | $-3,334,409 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $7,793,976 | $8,000,901 | sec.gov |
| Cash | $4,241,014 | $7,547,982 | sec.gov |
| Accounts receivable | $17,500 | $0 | sec.gov |
| Short-term debt | $953,657 | $1,592,735 | sec.gov |
| Long-term debt | $2,924,206 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 2, 2024 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 28, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| January 24, 2023 | Progress update | $50,001 | $4,999,997 | April 30, 2023 | The final number is $1,472,583.00 in investments. | sec.gov |
| November 1, 2022 | Amendment | $50,001 | $4,999,997 | November 1, 2022 | Updating closing date. | sec.gov |
| August 29, 2022 | Offering | $50,001 | $4,999,997 | April 30, 2023 | sec.gov | |
| May 2, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| September 20, 2021 | Progress update | $1,000,000 | $5,000,000 | June 4, 2021 | The final number is $4,999,613.00 in investments. | sec.gov |
| June 4, 2021 | Amendment | $1,000,000 | $5,000,000 | June 4, 2021 | Updated closing date to 6/4/2021 | sec.gov |
| April 21, 2021 | Amendment | $1,000,000 | $1,070,000 | April 30, 2022 | Added provision to SPV Subscription agreement related to obligations to provide a tax identification number to receive a return, as required by U.S. law. | sec.gov |
| April 19, 2021 | Amendment | $1,000,000 | $1,070,000 | April 30, 2022 | Added audited financial statements for 2019 and 2020, clarified that offering is not hosted by Wefunder Portal, updated company address. | sec.gov |
| March 16, 2021 | Offering | $1,000,000 | $1,070,000 | April 30, 2022 | sec.gov |
Also on SpecStream
Updated April 2, 2024. 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.