Freedom Chat Inc
View this filing on EDGAR (filing index, accession 0002050865-25-000001) | All Form C filings by this company on EDGAR
Filing details
| Company | Freedom Chat Inc | (Form C, issuer information) |
|---|---|---|
| State | CO | (Form C, issuer information) |
| Platform | OpenDeal Portal LLC | (Form C, issuer information) |
| Filing date | 2025-02-24 | (EDGAR filing index) |
| Date of incorporation | 2022-11-14 | (Form C, issuer information) |
| Employees | 1 | (Form C, issuer information) |
| Security offered | Other SAFE (Simple Agreement for Future Equity) | (Form C, offering information) |
| Price per security | $1 | (Form C, offering information) |
| Target amount | $75,000 | (Form C, offering information) |
| Maximum ask | $1,235,000 | (Form C, offering information) |
| Offering deadline | 2025-05-23 | (Form C, offering information) |
| Platform compensation | Issuer shall pay the Intermediary the greater of: (A) a cash fee of (1) 0% on funds raised up to $100,000.00 and (2) 6% on amounts from $100,000.01 to $5M, or (B) a flat cash fee of $15K. Additionally, the Issuer shall pay a non-refundable fee of $7500. | (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 | $398 | $0 | (Form C, financial summary) |
| Cost of goods sold | $0 | $0 | (Form C, financial summary) |
| Net income | -$666,380 | -$375,702 | (Form C, financial summary) |
| Taxes paid | $0 | $0 | (Form C, financial summary) |
| Cash and equivalents | $214,716 | $224,626 | (Form C, financial summary) |
| Accounts receivable | $0 | $0 | (Form C, financial summary) |
| Total assets | $214,938 | $224,626 | (Form C, financial summary) |
| Short-term debt | $69,493 | $5,300 | (Form C, financial summary) |
| Long-term debt | $1,195,000 | $602,500 | (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: 0002050865-25-000001.
"NOTE 8 GOING CONCERN The accompanying balance sheet has been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business."
"NOTE 8 GOING CONCERN The accompanying balance sheet has been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business."
- 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: 0002050865-25-000001.
"Haas could use his Issuer, issue additional securities which may dilute you, repurchase securities of the Issuer, enter into transactions with related parties or support or reject other management and board proposals that are subject to stockholder approval."
"NOTE 5 LIABILITIES AND DEBT See Note 3 Related Party Transactions for details of related party loan."
- 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.
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