Growlife, Inc., Corporation just filed form D announcing $235,660 equity financing. This is a new filing. Growlife was able to fundraise $235,660. That is 100.00% of the fundraising. The total fundraising amount was $235,660. The form was filed on 2016-10-11. The reason for the financing was: On 09-26-2016, 33,665,701 shares of Common Stock at $.007 per share were issued pursuant to the conversion of a Senior Secured Convertible Note..
Growlife is based in Washington. The filler’s business is Other Technology. The SEC form was signed by Marco Hegyi CEO. The company was incorporated more than five years ago. The filler’s address is: 5400 Carillon Point, Kirkland, Wa, Washington, 98033. Marco Hegyi is the related person in the form and it has address: 5400 Carillon Point, Kirkland, Wa, Washington, 98033. Link to Growlife Filing: 000116169716001111.
Analysis of Growlife Offering
On average, firms in the Other Technology sector, sell 85.80% of the total offering size. Growlife sold 100.00% of the offering. Could this mean that the trust in Growlife is high? The average fundraising size for companies in the Other Technology industry is $1.54 million. The offering was 84.70% smaller than the average of $1.54 million. Of course this should not be interpreted as negative. Businesses raise funds for a variety of needs and reasons. The minimum investment for this fundraising is set at $0. If you know more about the reasons for the fundraising, please comment below.
What is Form D? What It Is Used For
Form D disclosures could be used to track and understand better your competitors. The information in Form D is usually highly confidential for ventures and startups and they don’t like revealing it. This is because it reveals amount raised or planned to be raised as well as reasons for the financing. This could help competitors. Entrepreneurs usually want to keep their financing a ‘secret’ so they can stay in stealth mode for longer.
Why Fundraising Reporting Is Good For Growlife Also
The Form D signed by Marco Hegyi might help Growlife, Inc.’s sector. First, it helps potential customers feel more safe to deal with a firm that is well financed. The odds are higher that it will stay in the business. Second, this could attract other investors such as venture-capital firms, funds and angels. Third, positive PR effects could even bring leasing firms and venture lenders.
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