SEC Info℠  
    Home      Search      My Interests      Help      Sign In      Please Sign In

Magfast LLC – ‘C/A’ on 11/23/22

On:  Wednesday, 11/23/22, at 5:05pm ET   ·   Accession #:  1669191-22-1101   ·   File #:  20-31332

Previous ‘C’:  ‘C/A’ on 11/17/22   ·   Next:  ‘C/A’ on 12/14/22   ·   Latest:  ‘C/A’ on 4/25/24

Find Words in Filings emoji
 		  in    Show  and   ↓Hints

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

11/23/22  Magfast LLC                       C/A                    7:7.8M                                   NetCapital Funding … Inc

Amendment to Offering Statement   —   Form C   —   Regulation Crowdfunding

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: C/A         Amendment to Offering Statement -- primary_doc.xml  HTML     12K 
 7: EX-99       Image Attachments HTML                              HTML      4K 
 6: EX-99       Additional Information -- otherfinancial             PDF    212K 
 3: EX-99       CPA Audit Report -- auditreport                      PDF    738K 
 4: EX-99       Miscellaneous Exhibit -- certificateofformation      PDF    822K 
 2: EX-99       Miscellaneous Exhibit -- offeringstatement           PDF    526K 
 5: EX-99       Miscellaneous Exhibit -- operatingagreement          PDF    387K

‘C/A’   —   Amendment to Offering Statement — primary_doc.xml



        

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

  Form C    –   Plain Text   –  SEC Website  –  EDGAR System  –    XML Data    –  <?xml?> File
 
 
XML Data rendering:  Amendment to Offering Statement
 
                                                                                                                                                                                
<?xml version="1.0" encoding="windows-1252"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/formc" xmlns:com="http://www.sec.gov/edgar/common">
<headerData>
<submissionType> C/A </submissionType>
<filerInfo>
<filer>
<filerCredentials>
<filerCik> 0001719420 </filerCik>
<filerCcc> XXXXXXXX </filerCcc>
</filerCredentials>
<fileNumber> 020-31332 </fileNumber>
</filer>
<liveTestFlag> LIVE </liveTestFlag>
<flags>
<confirmingCopyFlag> false </confirmingCopyFlag>
<returnCopyFlag> true </returnCopyFlag>
<overrideInternetFlag> false </overrideInternetFlag>
</flags>
</filerInfo>
</headerData>
<formData>
<issuerInformation>
<isAmendment> false </isAmendment>
<natureOfAmendment> the issuer made text edits to the offering page and the financial condition section. </natureOfAmendment>
<issuerInfo>
<nameOfIssuer> MAGFAST LLC </nameOfIssuer>
<legalStatus>
<legalStatusForm> Limited Liability Company </legalStatusForm>
<jurisdictionOrganization> DE </jurisdictionOrganization>
<dateIncorporation> 10-03-2017 </dateIncorporation>
</legalStatus>
<issuerAddress>
<com:street1> 1 Grandview Ave </com:street1>
<com:city> Cornwall on Hudson </com:city>
<com:stateOrCountry> NY </com:stateOrCountry>
<com:zipCode> 12520 </com:zipCode>
</issuerAddress>
<issuerWebsite> MAGFAST.com </issuerWebsite>
</issuerInfo>
<isCoIssuer> N </isCoIssuer>
<companyName> NetCapital Funding Portal Inc. </companyName>
<commissionCik> 0001669191 </commissionCik>
<commissionFileNumber> 007-00035 </commissionFileNumber>
<crdNumber> 283596 </crdNumber>
</issuerInformation>
<offeringInformation>
<compensationAmount> Up to 4.9% of amount raised for a successful offering and a listing fee of up to $5,000 </compensationAmount>
<financialInterest> None. </financialInterest>
<securityOfferedType> Common Stock </securityOfferedType>
<noOfSecurityOffered> 660 </noOfSecurityOffered>
<price> 15.17000 </price>
<priceDeterminationMethod> The price of the Securities was determined solely by the management and bears no relation to traditional measures of valuation such as book value or price-to-earnings ratios. We expect that any future valuation will take the same approach. </priceDeterminationMethod>
<offeringAmount> 10012.20 </offeringAmount>
<overSubscriptionAccepted> Y </overSubscriptionAccepted>
<overSubscriptionAllocationType> First-come, first-served basis </overSubscriptionAllocationType>
<maximumOfferingAmount> 3350006.27 </maximumOfferingAmount>
<deadlineDate> 01-17-2023 </deadlineDate>
</offeringInformation>
<annualReportDisclosureRequirements>
<currentEmployees> 2 </currentEmployees>
<totalAssetMostRecentFiscalYear> 4979055.00 </totalAssetMostRecentFiscalYear>
<totalAssetPriorFiscalYear> 2883896.00 </totalAssetPriorFiscalYear>
<cashEquiMostRecentFiscalYear> 2662369.00 </cashEquiMostRecentFiscalYear>
<cashEquiPriorFiscalYear> 1650223.00 </cashEquiPriorFiscalYear>
<actReceivedMostRecentFiscalYear> 0.00 </actReceivedMostRecentFiscalYear>
<actReceivedPriorFiscalYear> 0.00 </actReceivedPriorFiscalYear>
<shortTermDebtMostRecentFiscalYear> 127084.00 </shortTermDebtMostRecentFiscalYear>
<shortTermDebtPriorFiscalYear> 127084.00 </shortTermDebtPriorFiscalYear>
<longTermDebtMostRecentFiscalYear> 0.00 </longTermDebtMostRecentFiscalYear>
<longTermDebtPriorFiscalYear> 0.00 </longTermDebtPriorFiscalYear>
<revenueMostRecentFiscalYear> 0.00 </revenueMostRecentFiscalYear>
<revenuePriorFiscalYear> 0.00 </revenuePriorFiscalYear>
<costGoodsSoldMostRecentFiscalYear> 0.00 </costGoodsSoldMostRecentFiscalYear>
<costGoodsSoldPriorFiscalYear> 0.00 </costGoodsSoldPriorFiscalYear>
<taxPaidMostRecentFiscalYear> 0.00 </taxPaidMostRecentFiscalYear>
<taxPaidPriorFiscalYear> 0.00 </taxPaidPriorFiscalYear>
<netIncomeMostRecentFiscalYear> -4267901.00 </netIncomeMostRecentFiscalYear>
<netIncomePriorFiscalYear> -4811177.00 </netIncomePriorFiscalYear>
<issueJurisdictionSecuritiesOffering> AL </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> AK </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> AZ </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> AR </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> CA </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> CO </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> CT </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> DE </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> DC </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> FL </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> GA </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> HI </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> ID </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> IL </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> IN </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> IA </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> KS </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> KY </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> LA </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> ME </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> MD </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> MA </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> MI </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> MN </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> MS </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> MO </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> MT </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> NE </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> NV </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> NH </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> NJ </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> NM </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> NY </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> NC </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> ND </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> OH </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> OK </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> OR </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> PA </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> RI </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> SC </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> SD </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> TN </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> TX </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> UT </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> VT </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> VA </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> WA </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> WV </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> WI </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> WY </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> B5 </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> GU </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> 1V </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> PR </issueJurisdictionSecuritiesOffering>
<issueJurisdictionSecuritiesOffering> VI </issueJurisdictionSecuritiesOffering>
</annualReportDisclosureRequirements>
<signatureInfo>
<issuerSignature>
<issuer> MAGFAST LLC </issuer>
<issuerSignature> Seymour Segnit </issuerSignature>
<issuerTitle> Principal Executive Officer </issuerTitle>
</issuerSignature>
<signaturePersons>
<signaturePerson>
<personSignature> Seymour Segnit </personSignature>
<personTitle> Principal Executive Officer </personTitle>
<signatureDate> 11-23-2022 </signatureDate>
</signaturePerson>
<signaturePerson>
<personSignature> Seymour Segnit </personSignature>
<personTitle> Principal Financial Officer </personTitle>
<signatureDate> 11-23-2022 </signatureDate>
</signaturePerson>
<signaturePerson>
<personSignature> Seymour Segnit </personSignature>
<personTitle> Principal Accounting Officer </personTitle>
<signatureDate> 11-23-2022 </signatureDate>
</signaturePerson>
<signaturePerson>
<personSignature> Seymour Segnit </personSignature>
<personTitle> Board Member </personTitle>
<signatureDate> 11-23-2022 </signatureDate>
</signaturePerson>
<signaturePerson>
<personSignature> Amy Rau Segnit </personSignature>
<personTitle> Board Member </personTitle>
<signatureDate> 11-23-2022 </signatureDate>
</signaturePerson>
</signaturePersons>
</signatureInfo>
</formData>
</edgarSubmission>


↑Top
Filing Submission 0001669191-22-001101   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
Copyright © 2024 Fran Finnegan & Company LLC – All Rights Reserved.
About — Privacy — Redactions — Help — Sun., Apr. 28, 10:42:26.2pm ET