BeAssured Co.
View this filing on EDGAR (filing index, accession 0001669191-24-001011) | All Form C filings by this company on EDGAR
Filing details
| Company | BeAssured Co. | (Form C, issuer information) |
|---|---|---|
| State | AR | (Form C, issuer information) |
| Platform | NetCapital Funding Portal Inc. | (Form C, issuer information) |
| Filing date | 2024-10-28 | (EDGAR filing index) |
| Date of incorporation | 2022-06-21 | (Form C, issuer information) |
| Employees | 0 | (Form C, issuer information) |
| Security offered | Common Stock | (Form C, offering information) |
| Price per security | $2 | (Form C, offering information) |
| Target amount | $10,001 | (Form C, offering information) |
| Maximum ask | $300,001 | (Form C, offering information) |
| Offering deadline | 2025-01-10 | (Form C, offering information) |
| Platform compensation | Up to 4.9% of amount raised for a successful offering and a listing fee of up to $10,000 | (Form C, offering information) |
Financial summary
Figures are as entered by the company in the financial summary on the cover of its Form C. They are self-reported and unaudited, and they are not taken from the financial statements filed as exhibits to the Form C, which we do not read mechanically.
| Item | Most recent fiscal year | Prior fiscal year | Source |
|---|---|---|---|
| Revenue | $576 | $0 | (Form C, financial summary) |
| Cost of goods sold | $0 | $0 | (Form C, financial summary) |
| Net income | -$120,421 | -$21,472 | (Form C, financial summary) |
| Taxes paid | $0 | $0 | (Form C, financial summary) |
| Cash and equivalents | $19,825 | $985 | (Form C, financial summary) |
| Accounts receivable | $0 | $0 | (Form C, financial summary) |
| Total assets | $19,825 | $985 | (Form C, financial summary) |
| Short-term debt | $0 | $0 | (Form C, financial summary) |
| Long-term debt | $149,908 | $21,457 | (Form C, financial summary) |
Mechanical checks that fired
- Going-concern language. Going-concern language appears in this offering's own Form C filing or in an amendment to it, in a sentence that states it rather than ruling it out. The quoted sentence is below. Read the auditor or accountant notes in the filing for the full context. Found in: 0001669191-24-001011, 0001669191-25-000016, 0001669191-25-000234.
"ial statements have been prepared assuming that the Company will continue as a going concern."
"ial statements have been prepared assuming that the Company will continue as a going concern."
- Related-party language. Related-party language appears in this offering's own Form C filing or in an amendment to it, in a sentence that states it rather than ruling it out. The phrase can describe routine or unusual arrangements, so read the quoted sentence and the filing. Found in: 0001669191-24-001011, 0001669191-25-000016, 0001669191-25-000234.
"Notes to the Financial Statements For the years ended December 31, 2023 and 2022 The Company has entered into non-refundable Simple Agreements for Future Equity (SAFE) agreements with related party investors, which gives the investor the right to certain shares of the Company's capital stock at the price per share equal to a post-money valuation cap divided by the Company's capitalization."
"Notes to the Financial Statements For the years ended December 31, 2023 and 2022 The Company has entered into non-refundable Simple Agreements for Future Equity (SAFE) agreements with related party investors, which gives the investor the right to certain shares of the Company's capital stock at the price per share equal to a post-money valuation cap divided by the Company's capitalization."
- Net loss in both years. Net income is negative in both fiscal years reported in the Form C financial summary.
- Cash below one year of losses. Net loss for the most recent fiscal year is larger than year-end cash, both as reported in the Form C financial summary.
- Debt above assets. Short-term plus long-term debt is larger than total assets in the Form C financial summary.
- Maximum ask above 10x revenue. The maximum offering amount is more than 10 times the most recent fiscal year revenue (or revenue is $0), per the Form C.
A check means "read this part of the filing closely." It is not a judgment about how the company will do.
Company website as listed in the Form C: https://beassured.ai/
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