Patriot One Technologies Financing
Patriot One Technologies Inc., Corporation just had published form D announcing $31,323 equity financing. This is a new filing. Patriot One Technologies was able to fundraise $31,323. That is 100.00% of the offering. The total private offering amount was $31,323. The offering form was filed on 2016-11-22. The reason for the financing was: Sale of 280,000 Units at a price of CDN $0.15 per Unit. Each Unit consists of one share of common stock and one warrant to purchase one share of common stock. Bank of Canada noon exchange rate of CDN $1.00 for US $0.7458 on November 9, 2016..
Patriot One Technologies is based in Ontario – Canada. The firm’s business is not disclosed. The form was submitted by Martin Cronin CEO. The company was incorporated more than five years ago. The filler’s address is: 3Rd Floor, 7111 Syntex Drive, Mississauga, A6, Ontario, Canada, L5n 8C3. Dinesh Kandanchatha is the related person in the form and it has address: 3Rd Floor, 7111 Syntex Drive, Mississauga, A6, Ontario, Canada, L5n 8C3. Link to Patriot One Technologies Filing: 000136568616000003.
Analysis of Patriot One Technologies Offering
On average, firms in the not disclosed sector, sell 67.77% of the total offering amount. Patriot One Technologies sold 100.00% of the offering. Could this mean that the trust in Patriot One Technologies is high? The average fundraising amount for companies in all industries in our database is $3.05 million. The offering was 98.97% smaller than the average of $3.05 million. Of course this should not be taken as negative. Firms get financed for a variety of needs and reasons. The minimum investment for this offering is set at $0. If you know more about the reasons for the financing, 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 Patriot One Technologies Also
The Form D signed by Martin Cronin might help Patriot One Technologies 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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