Verify Faces Inc
View this filing on EDGAR (filing index, accession 0002095461-25-000001) | All Form C filings by this company on EDGAR
Filing details
| Company | Verify Faces Inc | (Form C, issuer information) |
|---|---|---|
| State | FL | (Form C, issuer information) |
| Platform | OpenDeal Portal LLC | (Form C, issuer information) |
| Filing date | 2025-12-01 | (EDGAR filing index) |
| Date of incorporation | 2025-01-31 | (Form C, issuer information) |
| Employees | 7 | (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 | 2026-03-02 | (Form C, offering information) |
| Platform compensation | Issuer shall pay the Intermediary the greater of (A) the amount determined pursuant to the following schedule: (1) 0% of any amounts raised up to $100K and (2) 6% of any amounts raised exceeding $100,000.01 but not exceeding $5M or (B) a cash fee of $15. | (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. Every figure in this filing's summary is 0.00. A Form C cover page requires a number in each of these fields, so 0.00 can mean the company reported zero or entered nothing, and the two cannot be told apart from the cover page. We therefore do not run the checks that would be calculated from these figures. The exhibits are the place to look. The prior fiscal year figures are all 0.00, and the date of incorporation stated in this same Form C is in 2025, so that fiscal year may precede the company.
| Item | Most recent fiscal year | Prior fiscal year | Source |
|---|---|---|---|
| Revenue | $0 | $0 | (Form C, financial summary) |
| Cost of goods sold | $0 | $0 | (Form C, financial summary) |
| Net income | $0 | $0 | (Form C, financial summary) |
| Taxes paid | $0 | $0 | (Form C, financial summary) |
| Cash and equivalents | $0 | $0 | (Form C, financial summary) |
| Accounts receivable | $0 | $0 | (Form C, financial summary) |
| Total assets | $0 | $0 | (Form C, financial summary) |
| Short-term debt | $0 | $0 | (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: 0002095461-25-000001.
"NOTE 8 - GOING CONCERN The Company plans to discontinue operations under this legal entity and reorganize its operations under Verify Faces Inc, a US Delaware Corporation."
"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: 0002095461-25-000001.
"On behalf of Mongio and Associates CPAs, LLC Vince Mongio, CPA, EA, CIA, CFE, MACC Miami, FL February 6, 2025 Statement of Financial Position As of June 30, ASSETS Current Assets Cash and Cash Equivalents Loan Receivable - Related Party Other Receivable Total Current Assets Non-current Assets Plant and Equipment and Motor Vehicles, net of Accumulated Depreciation Total Non-Current Assets TOTAL ASSETS LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable Total Current Liabilities TOTAL LIABILITIES EQUITY Share Capital Capital Contrib"
29,619) - 511,925 (293,582) (37,262) (1,269,109) (6,207) (6,207) - 299,574 299,574 457 (215) 242 39,900 1,216,943 1,256,843 12,723 (12,266) 457 Total Adjustments to reconcile Net Income to Net Cash provided by operations: Net Cash provided by (used in) Operating Activities INVESTING ACTIVITIES Loan Receivable - Related Party Net Cash provided by (used by) Investing Activities FINANCING ACTIVITIES Proceeds from Common Stock Proceeds from Contributed Capital Net Cash provided by (used in) Financing Activities Cash at the beginning of period Net Cash increase (decrease) for period Cash at end of
Quoted from a financial statement table, so it reads as columns rather than a sentence. Open the filing for the layout.
Checks not run on this filing
These checks are arithmetic on the Form C financial summary, and every figure in this filing's summary is 0.00, which on a Form C cover page can mean zero or can mean nothing was entered. We do not run arithmetic on figures that carry no information, so these checks are not run here. That is a limit of our method and says nothing about the company either way.
- Net loss in both years
- Cash below one year of losses
- No revenue
- Debt above assets
- Maximum ask above 10x revenue
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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