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Vado Corp. – ‘1-A/A’ on 7/25/23

On:  Tuesday, 7/25/23, at 5:00pm ET   ·   Accession #:  1185185-23-755   ·   File #:  24-12227

Previous ‘1-A’:  ‘1-A’ on 4/20/23   ·   Next & Latest:  ‘1-A/A’ on 11/16/23   ·   13 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 7/25/23  Vado Corp.                        1-A/A                  9:1.7M                                   Federal Filings, LLC/FA

Pre-Qualification Amendment to Offering Statement   —   Form 1-A   —   Regulation A/A+

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 1-A/A       Pre-Qualification Amendment to Offering Statement   HTML     20K 
                -- primary_doc.xml                                               
 2: PART II AND III  Offering Statement - Parts II and III          HTML   1.44M 
 3: EX1A-3 HLDRS RTS  Ex 3-1                                        HTML     47K 
 4: EX1A-4 SUBS AGMT  Ex 4-1                                        HTML     23K 
 5: EX1A-6 MAT CTRCT  Ex 6-5                                        HTML     56K 
 6: EX1A-6 MAT CTRCT  Ex 6-6                                        HTML     29K 
 7: EX1A-6 MAT CTRCT  Ex 6-7                                        HTML     81K 
 8: EX1A-11 CONSENT  Ex 11-2                                        HTML      6K 
 9: EX1A-12 OPN CNSL  Ex 12-1                                       HTML     10K 


‘1-A/A’   —   Pre-Qualification Amendment to Offering Statement — primary_doc.xml




        

This ‘1-A/A’ Document is an XML Data File that may be rendered in various formats:

  Form 1-A    –   Plain Text   –  SEC Website  –  EDGAR System  –    XML Data    –  <?xml?> File
 

 
SEC Info rendering:  Pre-Qualification Amendment to Offering Statement
 
schemaVersion:

1-A: Filer Information

Issuer CIK
0001700849 
Issuer CCC
XXXXXXXX 
DOS File Number
 
Offering File Number
024-12227 
Is this a LIVE or TEST Filing? Radio button checked LIVE Radio button not checked TEST
Would you like a Return Copy? Checkbox not checked
Notify via Filing Website only? Checkbox not checked
Since Last Filing? Checkbox not checked

Submission Contact Information

Name
 
Phone
 
E-Mail Address
 

1-A: Item 1. Issuer Information

Issuer Infomation

Exact name of issuer as specified in the issuer's charter

Vado Corp. 

Jurisdiction of Incorporation / Organization

NEVADA  

Year of Incorporation

2017 

CIK

0001700849 

Primary Standard Industrial Classification Code

SERVICES-ADVERTISING 

I.R.S. Employer Identification Number

30-0968244 

Total number of full-time employees

43 

Total number of part-time employees

5 

Contact Infomation

Address of Principal Executive Offices

Address 1

13468 BEACH AVE 

Address 2

 

City

MARINA DEL REY 

State/Country

CALIFORNIA  

Mailing Zip/ Postal Code

90292 

Phone

310-289-4477 

Provide the following information for the person the Securities and Exchange Commission's staff should call in connection with any pre-qualification review of the offering statement.

Name

Constantine Christakis, Esq. 

Address 1

 

Address 2

 

City

 

State/Country

 

Mailing Zip/ Postal Code

 

Phone

 

Provide up to two e-mail addresses to which the Securities and Exchange Commission's staff may send any comment letters relating to the offering statement. After qualification of the offering statement, such e-mail addresses are not required to remain active.

Financial Statements

Use the financial statements for the most recent period contained in this offering statement to provide the following information about the issuer. The following table does not include all of the line items from the financial statements. Long Term Debt would include notes payable, bonds, mortgages, and similar obligations. To determine "Total Revenues" for all companies selecting "Other" for their industry group, refer to Article 5-03(b)(1) of Regulation S-X. For companies selecting "Insurance", refer to Article 7-04 of Regulation S-X for calculation of "Total Revenues" and paragraphs 5 and 7 of Article 7-04 for "Costs and Expenses Applicable to Revenues".

Industry Group (select one) Radio button not checked Banking Radio button not checked Insurance Radio button checked Other

Balance Sheet Information

Cash and Cash Equivalents

$ 485053.00 

Investment Securities
$ 0.00 
Total Investments

$  

Accounts and Notes Receivable

$ 2080758.00 

Loans

$  

Property, Plant and Equipment (PP&E):

$ 32976.00 

Property and Equipment

$  

Total Assets

$ 3712426.00 

Accounts Payable and Accrued Liabilities

$ 2272119.00 

Policy Liabilities and Accruals

$  

Deposits

$  

Long Term Debt

$ 2470410.00 

Total Liabilities

$ 8422826.00 

Total Stockholders' Equity

$ -4710400.00 

Total Liabilities and Equity

$ 3712426.00 

Statement of Comprehensive Income Information

Total Revenues

$ 17619504.00 

Total Interest Income

$  

Costs and Expenses Applicable to Revenues

$ 11496539.00 

Total Interest Expenses

$  

Depreciation and Amortization

$ 206947.00 

Net Income

$ -4802669.00 

Earnings Per Share - Basic

$ -0.25 

Earnings Per Share - Diluted

$ -0.25 

Name of Auditor (if any)

M&K CPAS, PLLC 

Outstanding Securities

Common Equity

Name of Class (if any) Common Equity

Common Stock 

Common Equity Units Outstanding

182435897 

Common Equity CUSIP (if any):

91875K106 

Common Equity Units Name of Trading Center or Quotation Medium (if any)

OTC Pink 

Preferred Equity

Preferred Equity Name of Class (if any)

Series A Preferred Stock 

Preferred Equity Units Outstanding

223333 

Preferred Equity CUSIP (if any)

N/A 

Preferred Equity Name of Trading Center or Quotation Medium (if any)

N/A 

Debt Securities

Debt Securities Name of Class (if any)

Convertible Debt 

Debt Securities Units Outstanding

2100000 

Debt Securities CUSIP (if any):

N/A 

Debt Securities Name of Trading Center or Quotation Medium (if any)

N/A 

1-A: Item 2. Issuer Eligibility

Issuer Eligibility

Check this box to certify that all of the following statements are true for the issuer(s)

Checkbox checked

  • Organized under the laws of the United States or Canada, or any State, Province, Territory or possession thereof, or the District of Columbia.
  • Principal place of business is in the United States or Canada.
  • Not subject to section 13 or 15(d) of the Securities Exchange Act of 1934.
  • Not a development stage company that either (a) has no specific business plan or purpose, or (b) has indicated that its business plan is to merge with an unidentified company or companies.
  • Not an investment company registered or required to be registered under the Investment Company Act of 1940.
  • Not issuing fractional undivided interests in oil or gas rights, or a similar interest in other mineral rights.
  • Not issuing asset-backed securities as defined in Item 1101 (c) of Regulation AB.
  • Not, and has not been, subject to any order of the Commission entered pursuant to Section 12(j) of the Exchange Act (15 U.S.C. 78l(j)) within five years before the filing of this offering statement.
  • Has filed with the Commission all the reports it was required to file, if any, pursuant to Rule 257 during the two years immediately before the filing of the offering statement (or for such shorter period that the issuer was required to file such reports).

1-A: Item 3. Application of Rule 262

Application Rule 262

Check this box to certify that, as of the time of this filing, each person described in Rule 262 of Regulation A is either not disqualified under that rule or is disqualified but has received a waiver of such disqualification.

Checkbox checked

Check this box if "bad actor" disclosure under Rule 262(d) is provided in Part II of the offering statement.

Checkbox not checked

1-A: Item 4. Summary Information Regarding the Offering and Other Current or Proposed Offerings

Summary Infomation

Check the appropriate box to indicate whether you are conducting a Tier 1 or Tier 2 offering Radio button not checked Tier1 Radio button checked Tier2
Check the appropriate box to indicate whether the financial statements have been audited Radio button not checked Unaudited Radio button checked Audited
Types of Securities Offered in this Offering Statement (select all that apply)
Checkbox checkedEquity (common or preferred stock) 

The information called for by this item below may be omitted if undetermined at the time of filing or submission, except that if a price range has been included in the offering statement, the midpoint of that range must be used to respond. Please refer to Rule 251(a) for the definition of "aggregate offering price" or "aggregate sales" as used in this item. Please leave the field blank if undetermined at this time and include a zero if a particular item is not applicable to the offering.

Price per security
$ 0.4000 
The portion of the aggregate offering price attributable to securities being offered on behalf of the issuer
$ 8000000.00 
The portion of the aggregate offering price attributable to securities being offered on behalf of selling securityholders
$ 0.00 
The portion of the aggregate offering price attributable to all the securities of the issuer sold pursuant to a qualified offering statement within the 12 months before the qualification of this offering statement
$ 0.00 
The estimated portion of aggregate sales attributable to securities that may be sold pursuant to any other qualified offering statement concurrently with securities being sold under this offering statement
$ 0.00 
Total (the sum of the aggregate offering price and aggregate sales in the four preceding paragraphs)
$ 8000000.00 

Anticipated fees in connection with this offering and names of service providers

Underwriters - Name of Service Provider
Underwriters - Fees
$  
Sales Commissions - Name of Service Provider
Dalmore Group, LLC (1)
Sales Commissions - Fee
$ 137500.00 
Finders' Fees - Name of Service Provider
Finders' Fees - Fees
$  
Accounting or Audit - Name of Service Provider
M&K CPAS, PLLC
Accounting or Audit - Fees
$ 80000.00 
Legal - Name of Service Provider
Nason, Yeager, Gerson, Harris & Fumero, P.A.
Legal - Fees
$ 50000.00 
Promoters - Name of Service Provider
Promoters - Fees
$  
Blue Sky Compliance - Name of Service Provider
Nason, Yeager, Gerson, Harris & Fumero
Blue Sky Compliance - Fees
$ 25000.00 
CRD Number of any broker or dealer listed:
304537 
Estimated net proceeds to the issuer
$ 7707250.00 
Clarification of responses (if necessary)
(1) Represents commissions and other fees payable to the broker for the offering. The net proceeds reflected do not give effect to additional offering expenses estimated to total approximately $1,200,000, as described in the Offering Circular.
 

1-A: Item 5. Jurisdictions in Which Securities are to be Offered

Jurisdictions in Which Securities are to be Offered

Using the list below, select the jurisdictions in which the issuer intends to offer the securities

Selected States and Jurisdictions

ALABAMA
ALASKA
ARIZONA
ARKANSAS
CALIFORNIA
COLORADO
CONNECTICUT
DELAWARE
DISTRICT OF COLUMBIA
FLORIDA
GEORGIA
HAWAII
IDAHO
ILLINOIS
INDIANA
IOWA
KANSAS
KENTUCKY
LOUISIANA
MAINE
MARYLAND
MASSACHUSETTS
MICHIGAN
MINNESOTA
MISSISSIPPI
MISSOURI
MONTANA
NEBRASKA
NEVADA
NEW HAMPSHIRE
NEW JERSEY
NEW MEXICO
NEW YORK
NORTH CAROLINA
NORTH DAKOTA
OHIO
OKLAHOMA
OREGON
PENNSYLVANIA
PUERTO RICO
RHODE ISLAND
SOUTH CAROLINA
SOUTH DAKOTA
TENNESSEE
TEXAS
UTAH
VERMONT
VIRGINIA
WASHINGTON
WEST VIRGINIA
WISCONSIN
WYOMING

Using the list below, select the jurisdictions in which the securities are to be offered by underwriters, dealers or sales persons or check the appropriate box

None Checkbox not checked
Same as the jurisdictions in which the issuer intends to offer the securities Checkbox checked
Selected States and Jurisdictions

ALABAMA
ALASKA
ARIZONA
ARKANSAS
CALIFORNIA
COLORADO
CONNECTICUT
DELAWARE
DISTRICT OF COLUMBIA
FLORIDA
GEORGIA
HAWAII
IDAHO
ILLINOIS
INDIANA
IOWA
KANSAS
KENTUCKY
LOUISIANA
MAINE
MARYLAND
MASSACHUSETTS
MICHIGAN
MINNESOTA
MISSISSIPPI
MISSOURI
MONTANA
NEBRASKA
NEVADA
NEW HAMPSHIRE
NEW JERSEY
NEW MEXICO
NEW YORK
NORTH CAROLINA
NORTH DAKOTA
OHIO
OKLAHOMA
OREGON
PENNSYLVANIA
PUERTO RICO
RHODE ISLAND
SOUTH CAROLINA
SOUTH DAKOTA
TENNESSEE
TEXAS
UTAH
VERMONT
VIRGINIA
WASHINGTON
WEST VIRGINIA
WISCONSIN
WYOMING

1-A: Item 6. Unregistered Securities Issued or Sold Within One Year

Unregistered Securities Issued or Sold Within One Year

None Checkbox not checked

Unregistered Securities Issued

As to any unregistered securities issued by the issuer of any of its predecessors or affiliated issuers within one year before the filing of this Form 1-A, state:

(a)Name of such issuer
Vado Corp. (Vado) 
(b)(1) Title of securities issued
Common Stock
 
(2) Total Amount of such securities issued
175450397
(3) Amount of such securities sold by or for the account of any person who at the time was a director, officer, promoter or principal securityholder of the issuer of such securities, or was an underwriter of any securities of such issuer.
0 
(c)(1) Aggregate consideration for which the securities were issued and basis for computing the amount thereof.
On February 24, 2023, Vado closed the share exchange (the "Exchange") with Socialcom Inc. ("Socialcom") pursuant to which Vado issued Socialcom shareholders 169,434,640 shares of Vado common stock, representing 96% of Vado's outstanding common stock, in exchange for 96.6% of the outstanding shares of Socialcom held by such Socialcom shareholders. Following the Exchange, in May 2023 Vado issued a total of 6,015,757 shares of common stock in exchange for 687,515 shares of Socialcom commons stock held by the then minority shareholders of Socialcom. As a result of the foregoing Socialcom became a wholly-owned (rather than a 96.6% owned) subsidiary of Vado.
 
(2) Aggregate consideration for which the securities listed in (b)(3) of this item (if any) were issued and the basis for computing the amount thereof (if different from the basis described in (c)(1)).
 

Unregistered Securities Issued

As to any unregistered securities issued by the issuer of any of its predecessors or affiliated issuers within one year before the filing of this Form 1-A, state:

(a)Name of such issuer
Vado Corp. 
(b)(1) Title of securities issued
Series A Convertible Preferred Stock
 
(2) Total Amount of such securities issued
73333
(3) Amount of such securities sold by or for the account of any person who at the time was a director, officer, promoter or principal securityholder of the issuer of such securities, or was an underwriter of any securities of such issuer.
0 
(c)(1) Aggregate consideration for which the securities were issued and basis for computing the amount thereof.
In November 2022, Vado sold 20,000 shares of its Series A Convertible Preferred Stock to a purchaser for $40,000. In February 2023, Vado sold 25,000 shares of its Series A Convertible Preferred Stock to a purchaser for $750,000. In May 2023, Vado sold 25,000 shares of its Series A Convertible Preferred Stock to the same purchaser for an additional $750,000 in the second tranche of the transaction. In June 2023, Vado issued 3,333 to an investor relations firm pursuant to an agreement for services with that entity.
 
(2) Aggregate consideration for which the securities listed in (b)(3) of this item (if any) were issued and the basis for computing the amount thereof (if different from the basis described in (c)(1)).
 

Unregistered Securities Issued

As to any unregistered securities issued by the issuer of any of its predecessors or affiliated issuers within one year before the filing of this Form 1-A, state:

(a)Name of such issuer
Socialcom Inc. (Socialcom) 
(b)(1) Title of securities issued
Socialcom Common Stock
 
(2) Total Amount of such securities issued
569533
(3) Amount of such securities sold by or for the account of any person who at the time was a director, officer, promoter or principal securityholder of the issuer of such securities, or was an underwriter of any securities of such issuer.
0 
(c)(1) Aggregate consideration for which the securities were issued and basis for computing the amount thereof.
During the 12 months ended December 31, 2022, Socialcom sold a total of 569,533 shares of its Common Stock for aggregate proceeds of $1,000,000. Following these sales, Socialcom became a 96%-owned subsidiary of Vado pursuant to the share exchange described above.
 
(2) Aggregate consideration for which the securities listed in (b)(3) of this item (if any) were issued and the basis for computing the amount thereof (if different from the basis described in (c)(1)).
 

Unregistered Securities Act

(d) Indicate the section of the Securities Act or Commission rule or regulation relied upon for exemption from the registration requirements of such Act and state briefly the facts relied upon for such exemption
Section 4(a)(2) of the Securities Act of 1933, and/or Regulation D promulgated thereunder.
 


6 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/16/24  Vado Corp.                        10-K       12/31/23   97:7.9M                                   Federal Filings, LLC/FA
12/07/23  Benaron Reeve                     SC 13D                 1:42K  Vado Corp.                        Federal Filings, LLC/FA
12/06/23  Wulfsohn Jason                    SC 13D                 1:47K  Vado Corp.                        Federal Filings, LLC/FA
11/21/23  Vado Corp.                        8-K:1,3,9  11/15/23   11:147K                                   Federal Filings, LLC/FA
11/16/23  Vado Corp.                        1-A/A                  9:2.8M                                   Federal Filings, LLC/FA
11/14/23  Vado Corp.                        10-Q        9/30/23   89:6.3M                                   Federal Filings, LLC/FA


7 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/21/23  Vado Corp.                        8-K:1,3,5,9 1/30/23   16:749K                                   Federal Filings, LLC/FA
11/29/22  Vado Corp.                        8-K:1,3,9  11/22/22   13:269K                                   Federal Filings, LLC/FA
10/12/21  Vado Corp.                        10-Q        8/31/21   33:1.9M                                   Federal Filings, LLC/FA
 4/01/21  Vado Corp.                        8-K:5,9     3/15/21    2:160K                                   Federal Filings, LLC/FA
 7/15/20  Vado Corp.                        10-Q        5/31/20   34:1.3M                                   Federal Filings, LLC/FA
 5/29/20  Vado Corp.                        8-K:1,5,9   5/22/20    3:208K                                   Federal Filings, LLC/FA
 1/18/18  Vado Corp.                        S-1                    4:1M
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