Form D explained...
Form D Coverage: Protokinetix $500000 Financing. Clarence E Smith Submitted Jan 3 Form D
January 3, 2017 Vivian Park
Protokinetix, Inc. - Clarence E Smith
Protokinetix Financing
Protokinetix, Inc., Corporation just released form D about $500,000 equity financing. This is a new filing. Protokinetix was able to fundraise $260,000 so far. That is 52.00% of the offering. The total fundraising amount was $500,000. The offering form was filed on 2017-01-03. The reason for the financing was: unspecified. The fundraising still has about $240,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Protokinetix is based in Ohio. The filler’s business is not disclosed. The form D was filed by Clarence E Smith President & CEO. The company was incorporated more than five years ago. The filler’s address is: 9176 South Pleasants Highway, St. Marys, Wv, West Virginia, 26170. Clarence E. Smith is the related person in the form and it has address: 1845 County Road 214, St. Augustine, Fl, Florida, 32084-9204. Link to Protokinetix Filing: 000112818917000001.
Analysis of Protokinetix Offering
On average, companies in the not disclosed sector, sell 67.77% of the total offering size. Protokinetix sold 52.00% of the offering. The financing is still open. The average offering amount for companies in all industries in our database is $3.05 million. The offering was 91.48% smaller than the average of $3.05 million. Of course this should not be interpreted as negative. Startups raise funds 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 Protokinetix Also
The Form D signed by Clarence E Smith might help Protokinetix, 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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