Iotum Inc, Corporation just released form D announcing $51,733 equity financing. This is a new filing. Iotum was able to fundraise $51,733. That is 100.00% of the financing round. The total financing amount was $51,733. The fundraising form was filed on 2016-07-11. The reason for the financing was: In the ordinary course of business, the issuer may use some of the proceeds of the offering to pay salaries to certain of its executive officers and directors..
Iotum is based in Ontario – Canada. The firm’s business is Other Technology. The D form was signed by Jason Martin President and Chief Executive Officer. The company was incorporated more than five years ago. The filler’s address is: 845 St. Clair Avenue West, Suite 202, Toronto, A6, Ontario, Canada, M6c 1C3. Jason Martin is the related person in the form and it has address: 845 St. Clair Avenue West, Suite 202, Toronto, A6, Ontario, Canada, M6c 1C3. Link to Iotum Filing: 000129660416000001.
Analysis of Iotum Offering
On average, firms in the Other Technology sector, sell 85.80% of the total offering amount. Iotum sold 100.00% of the offering. Could this mean that the trust in Iotum is high? The average offering size for companies in the Other Technology industry is $1.54 million. The offering was 96.64% smaller than the average of $1.54 million. Of course this should not be taken as negative. Businesses raise funds for different reasons and needs. The minimum investment for this fundraising was 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 Iotum Also
The Form D signed by Jason Martin might help Iotum 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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