Gymlink, Inc., Corporation just had published form D regarding $150,000 debt financing. The date of first sale was 2016-02-03. Gymlink was able to finance itself with $60,000 so far. That is 40.00% of the fundraising offer. The total offering amount was $150,000. The fundraising form was filed on 2016-10-31. The reason for the financing was: Working Capital. The fundraising still has about $90,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Gymlink is based in Alabama. The company’s business is Other Technology. The D form was filed by John Cowan President. The company was incorporated in 2014. The filler’s address is: 101 Henry Anna Lane, Bristol, Tn, Tennessee, 37620. John Cowan is the related person in the form and it has address: 101 Henry Anna Lane, Bristol, Tn, Tennessee, 37620. Link to Gymlink Filing: 000166723116000002.
Analysis of Gymlink Offering
On average, startups in the Other Technology sector, sell 85.80% of the total offering size. Gymlink sold 40.00% of the offering. The financing is still open. The average financing size for companies in the Other Technology industry is $1.54 million. The offering was 96.10% smaller than the average of $1.54 million. Of course this should not be seen as negative. Firms raise funds for a variety of needs and reasons. The minimum investment for this fundraising was set at $10000. 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 Gymlink Also
The Form D signed by John Cowan might help Gymlink, 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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