Data / Crowdfunding / Texas / XFit, Inc.
XFit, Inc.: crowdfunding raise on MicroVentures Marketplace Inc., $100,000 to $1,070,000 (2019)
XFit, Inc., a corporation in Austin, TX, filed a Form C with the SEC on November 7, 2019 to raise $100,000 to $1,070,000 in Crowd Note through MicroVentures Marketplace Inc.. The offering closed on December 9, 2019. In its most recent fiscal year it reported $932,162 in revenue and a net loss of $578,781, with 2 employees.
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- Website
- www.nexersys.com
- Funding portal
- MicroVentures Marketplace Inc.
- Address
- 7500 RIALTO BLVD. BUILDING 1, SUITE 122, Austin, TX 78735
- Legal form
- Corporation
- Jurisdiction
- TX
- Incorporated
- August 30, 2017
- SEC CIK
- 0001783556
Offering terms
From the amendment filed November 7, 2019.
- Security
- Crowd Note
- Price
- $1.00
- Target
- $100,000
- Maximum
- $1,070,000
- Deadline
- December 9, 2019
- Portal compensation
- The issuer will not owe a cash commission, or any other direct or indirect interest in the issuer, to the intermediary at the conclusion of the Offering.
Financials
From the Form C-AR filed March 18, 2020.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $932,162 | $766,459 | sec.gov |
| Cost of goods sold | $304,942 | $249,449 | sec.gov |
| Net income | $-578,781 | $-193,440 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $676,867 | $296,018 | sec.gov |
| Cash | $143,566 | $61,481 | sec.gov |
| Accounts receivable | $0 | $140,815 | sec.gov |
| Short-term debt | $0 | $300,000 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| March 18, 2020 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| March 18, 2020 | Annual report | Not listed | Not listed | sec.gov | ||
| December 13, 2019 | Progress update | $100,000 | $1,070,000 | December 9, 2019 | $134,310 in investments. Payments still being processed; final figure not yet determined. | sec.gov |
| November 7, 2019 | Amendment | $100,000 | $1,070,000 | December 9, 2019 | Filing to correct offer deadline in explanatory note and to correct the dates of signature. | sec.gov |
| November 6, 2019 | Amendment | $100,000 | $1,070,000 | December 9, 2019 | Amendment filed to extend offering deadline to 12/9/19, updating filing made 11/5/19 to include the amendment language regarding the C/A filed 10/18/19. | sec.gov |
| November 5, 2019 | Amendment | $100,000 | $1,070,000 | December 9, 2019 | Extending offering deadline to 12/9/2019. | sec.gov |
| October 18, 2019 | Amendment | $100,000 | $1,070,000 | November 11, 2019 | This Amendment is filed to disclose that related parties made investments during the Offering in amounts greater than 10% of the total amount raised. Additionally, this Amendment is filed to add a webinar transcript as Exhibit G. | sec.gov |
| September 10, 2019 | Offering | $100,000 | $1,070,000 | November 11, 2019 | sec.gov |
Updated March 18, 2020. 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.