Data / Crowdfunding / Utah / WhiteClouds, Inc.
WhiteClouds, Inc.: crowdfunding raise on Wefunder Portal LLC, $50,000 to $5,000,000 (2022)
WhiteClouds, Inc., a corporation in Ogden, UT, filed a Form C with the SEC on March 23, 2022 to raise $50,000 to $5,000,000 in Simple Agreement for Future Equity (SAFE) through Wefunder Portal LLC. The offering closed on April 30, 2022. In its most recent fiscal year it reported $2,201,273 in revenue and a net loss of $369,165, with 40 employees.
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- Website
- www.whiteclouds.com
- Funding portal
- Wefunder Portal LLC
- Address
- 1186 East 4600 South Suite #400, Ogden, UT 84403
- Legal form
- Corporation
- Jurisdiction
- UT
- Incorporated
- January 18, 2013
- SEC CIK
- 0001703997
Offering terms
From the offering filed March 23, 2022.
- Security
- Simple Agreement for Future Equity (SAFE)
- Price
- $1.00
- Target
- $50,000
- Maximum
- $5,000,000
- Deadline
- April 30, 2022
- Portal compensation
- 6.0% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.
Financials
From the Form C filed March 23, 2022.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $2,201,273 | $2,918,943 | sec.gov |
| Cost of goods sold | $465,621 | $747,962 | sec.gov |
| Net income | $-369,165 | $-1,076,706 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $310,522 | $847,104 | sec.gov |
| Cash | $3,043 | $21,118 | sec.gov |
| Accounts receivable | $122,955 | $189,507 | sec.gov |
| Short-term debt | $1,204,183 | $6,808,212 | sec.gov |
| Long-term debt | $1,978,519 | $1,306,907 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| March 23, 2022 | Offering | $50,000 | $5,000,000 | April 30, 2022 | sec.gov | |
| March 22, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| June 9, 2020 | Annual report | Not listed | Not listed | sec.gov | ||
| April 26, 2019 | Annual report | Not listed | Not listed | sec.gov | ||
| February 8, 2019 | Offering | $100,000 | $306,970 | April 26, 2019 | sec.gov | |
| January 25, 2019 | Progress update | $100,000 | $1,070,000 | September 29, 2018 | The final number is $228,029.00 in investments. | sec.gov |
| July 26, 2018 | Offering | $100,000 | $1,070,000 | January 18, 2019 | sec.gov | |
| April 30, 2018 | Annual report | Not listed | Not listed | sec.gov | ||
| September 26, 2017 | Progress update | $100,000 | $1,000,000 | September 26, 2017 | $1,070,000.00 in investments. Payments are still being processed; final number is yet to be determined. | sec.gov |
| August 1, 2017 | Amendment | $100,000 | $1,000,000 | July 31, 2017 | Change deadline date; Increase max funding target to $1.07M; Adds transcripts for videos. | sec.gov |
| May 1, 2017 | Offering | $100,000 | $1,000,000 | October 25, 2017 | sec.gov |
Updated March 23, 2022. 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.