Form D Action: Gearmunk $1.00 million Fundraising. Erik C Boles Submitted Oct 12 SEC Filing


Technology Gearmunk, Inc. - Erik C Boles

Gearmunk Financing

Gearmunk, Inc., Corporation just released form D because of $1.00 million equity financing. This is a new filing. Gearmunk was able to finance itself with $489,468 so far. That is 48.95% of the round of financing. The total offering amount was $1.00 million. This form was filed on 2016-10-12. The reason for the financing was: unspecified. The fundraising still has about $510,532 more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Gearmunk is based in Alabama. The company’s business is Other Technology. The form D was filed by Erik C Boles President. The company was incorporated in 2014. The filler’s address is: 31 N. Tejon Street, Colorado Springs, Co, Colorado, 80903. Erik C. Boles is the related person in the form and it has address: 31 N. Tejon St., Colorado Springs, Co, Colorado, 80903. Link to Gearmunk Filing: 000168728716000001.

Analysis of Gearmunk Offering

On average, companies in the Other Technology sector, sell 85.80% of the total offering size. Gearmunk sold 48.95% of the offering. The fundraising is still open. The average fundraising amount for companies in the Other Technology industry is $1.54 million. The offering was 68.22% smaller than the average of $1.54 million. Of course this should not be interpreted as negative. Businesses raise funds for different needs and reasons. The minimum investment for this offering is set at $5000. 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 Gearmunk Also

The Form D signed by Erik C Boles might help Gearmunk, 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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