MAGFAST, LLC
View this filing on EDGAR (filing index, accession 0001669191-26-000123) | All Form C filings by this company on EDGAR
Filing details
| Company | MAGFAST, LLC | (Form C, issuer information) |
|---|---|---|
| State | NY | (Form C, issuer information) |
| Platform | NetCapital Funding Portal Inc. | (Form C, issuer information) |
| Filing date | 2026-04-17 | (EDGAR filing index) |
| Date of incorporation | 2017-10-03 | (Form C, issuer information) |
| Employees | 2 | (Form C, issuer information) |
| Security offered | Common Stock | (Form C, offering information) |
| Price per security | $16 | (Form C, offering information) |
| Target amount | $10,014 | (Form C, offering information) |
| Maximum ask | $4,652,150 | (Form C, offering information) |
| Offering deadline | 2026-05-08 | (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 | $1,397,546 | $2,260,213 | (Form C, financial summary) |
| Cost of goods sold | $783,408 | $1,484,565 | (Form C, financial summary) |
| Net income | -$2,663,700 | -$4,141,120 | (Form C, financial summary) |
| Taxes paid | $0 | $0 | (Form C, financial summary) |
| Cash and equivalents | $75,536 | $1,271,585 | (Form C, financial summary) |
| Accounts receivable | $0 | $0 | (Form C, financial summary) |
| Total assets | $2,262,369 | $2,929,328 | (Form C, financial summary) |
| Short-term debt | $498,443 | $600,780 | (Form C, financial summary) |
| Long-term debt | $0 | $0 | (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: 0001669191-26-000123, 0001669191-26-000136, 0001669191-26-000138.
"NOTE 10 - GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern."
"NOTE 10 - GOING CONCERN The accompanying financial 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: 0001669191-26-000123, 0001669191-26-000136, 0001669191-26-000138.
"The Company discloses material related-party transactions in the accompanying financial statements."
"The Company discloses material related-party transactions in the accompanying financial statements."
- 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.
- Repeat Form C filer. This company filed 2 or more new Form C filings between 2024-10-21 to 2026-10-27 on EDGAR.
A check means "read this part of the filing closely." It is not a judgment about how the company will do.
Other Form C filings by this company in our data
Company website as listed in the Form C: https://www.magfast.com/
Want the weekly briefing? Subscribe free.