Form D Coverage: Cargo Systems $1.73 million Financing. Jeffrey C Cripe Filed Nov 21 Form D

Technology Cargo Systems Inc. - Jeffrey C Cripe

Cargo Systems Financing

Cargo Systems Inc., Corporation just submitted form D regarding $1.73 million equity financing. This is a new filing. Cargo Systems was able to fundraise $1.43 million. That is 82.40% of the fundraising offer. The total fundraising amount was $1.73 million. The financing form was filed on 2016-11-21. The reason for the financing was: A portion of the total amount sold includes conversion of outstanding convertible promissory notes.. The fundraising still has about $305,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Cargo Systems is based in New York. The firm’s business is Other Technology. The SEC form was submitted by Jeffrey C Cripe President & CEO. The company was incorporated in 2016. The filler’s address is: 858 Lexington Avenue, Apartment 2, New York, Ny, New York, 10065. Jeffrey C. Cripe is the related person in the form and it has address: C/O Cargo Systems, Inc., 858 Lexington Ave., Apartment 2, New York, Ny, New York, 10065. Link to Cargo Systems Filing: 000168425516000003.

Analysis of Cargo Systems Offering

On average, startups in the Other Technology sector, sell 85.80% of the total offering amount. Cargo Systems sold 82.40% of the offering. The financing is still open. The average investment size for companies in the Other Technology industry is $1.54 million. The offering was 7.27% smaller than the average of $1.54 million. Of course this should not be seen as negative. Firms get financed for different reasons and needs. The minimum investment for this financing 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 Cargo Systems Also

The Form D signed by Jeffrey C Cripe might help Cargo Systems 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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