Cannapharmarx $2.5 million Financing. Gary Herick Form D
January 20, 2019
From WhatsOnThorold.com by Nellie Frank on January 18, 2019
Cannapharmarx, Inc., Corporation just submitted form D about $2.50 million debt financing. The date of first sale was 2018-08-10. Cannapharmarx was able to finance itself with $2.07 million. That is 82.68 % of the financing round. The total private financing amount was $2.50 million. The form was filed on 2019-01-18. The reason for the financing was: The Board of Directors of the Issuer authorized an increase in the Total Offering Amount from $2,000,000 to $2,500,000.. The fundraising still has about $433,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Cannapharmarx is based in California. The company’s business is not disclosed. The form was submitted by Gary Herick CFO. The company was incorporated more than five years ago. The filler’s address is: 2 Park Plaza, Ste. 1200-B, Irvine, Ca, California, 92614. James Samuelson is the related person in the form and it has address: 2 Park Plaza, Suite 1200-B, Irvine, Ca, California, 92614. Link to Cannapharmarx Filing: 000112873219000001.
Analysis of Cannapharmarx Offering
On average, companies in the not disclosed sector, sell 67.77 % of the total offering size. Cannapharmarx sold 82.68 % of the offering. The financing is still open. Could this mean that the trust in Cannapharmarx is high? The average offering amount for companies in all industries in our database is $3.05 million. The offering was 32.23 % smaller than the average of $3.05 million. Of course this should not be seen as negative. Startups get financed for a variety of reasons and needs. The minimum investment for this fundraising is 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 Cannapharmarx Also
The Form D signed by Gary Herick might help Cannapharmarx, 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.