BlockFrame Inc.
View this filing on EDGAR (filing index, accession 0001096906-24-002169) | All Form C filings by this company on EDGAR
Filing details
| Company | BlockFrame Inc. | (Form C, issuer information) |
|---|---|---|
| State | CO | (Form C, issuer information) |
| Platform | MUNDIAL FINANCIAL GROUP, LLC | (Form C, issuer information) |
| Filing date | 2024-11-15 | (EDGAR filing index) |
| Date of incorporation | 2017-04-24 | (Form C, issuer information) |
| Employees | 7 | (Form C, issuer information) |
| Security offered | Common Stock | (Form C, offering information) |
| Price per security | $5 | (Form C, offering information) |
| Target amount | $25,000 | (Form C, offering information) |
| Maximum ask | $5,000,000 | (Form C, offering information) |
| Offering deadline | 2025-11-01 | (Form C, offering information) |
| Platform compensation | $2,500 set-up fee + 3% of raise amount | (Form C, offering information) |
Financial summary
Figures are as entered by the company in the financial summary on the cover of its Form C. They are self-reported and unaudited, and they are not taken from the financial statements filed as exhibits to the Form C, which we do not read mechanically.
| Item | Most recent fiscal year | Prior fiscal year | Source |
|---|---|---|---|
| Revenue | $102,742 | $117,041 | (Form C, financial summary) |
| Cost of goods sold | $0 | $0 | (Form C, financial summary) |
| Net income | -$172,916 | -$109,970 | (Form C, financial summary) |
| Taxes paid | $38,251 | $35,113 | (Form C, financial summary) |
| Cash and equivalents | $77,438 | $102,300 | (Form C, financial summary) |
| Accounts receivable | $0 | $462 | (Form C, financial summary) |
| Total assets | $258,638 | $193,908 | (Form C, financial summary) |
| Short-term debt | $254,320 | $45,785 | (Form C, financial summary) |
| Long-term debt | $297,100 | $297,100 | (Form C, financial summary) |
Mechanical checks that fired
- Going-concern language. Going-concern language appears in this offering's own Form C filing or in an amendment to it, in a sentence that states it rather than ruling it out. The quoted sentence is below. Read the auditor or accountant notes in the filing for the full context. Found in: 0001096906-24-002169, 0001096906-25-000887.
"Emphasis of Matter Regarding Going Concern The accompanying financial statement has been prepared under the assumption that the company will continue as a going concern."
"Emphasis of Matter Regarding Going Concern The accompanying financial statement has been prepared under the assumption that the company will continue as a going concern."
- Related-party language. Related-party language appears in this offering's own Form C filing or in an amendment to it, in a sentence that states it rather than ruling it out. The phrase can describe routine or unusual arrangements, so read the quoted sentence and the filing. Found in: 0001096906-24-002169, 0001096906-25-000887.
"NOTE 4 - RELATED PARTY TRANSACTIONS Parties, which can be corporations or individuals, are considered to be related if they have the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions."
"NOTE 3 - LONG TERM LIABILITIES The company has an outstanding loan of $297,100 and a Line of Credit of $475,000. 11 NOTE 4 - RELATED PARTY TRANSACTIONS Parties, which can be corporations or individuals, are considered to be related if they have the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions."
- Net loss in both years. Net income is negative in both fiscal years reported in the Form C financial summary.
- Cash below one year of losses. Net loss for the most recent fiscal year is larger than year-end cash, both as reported in the Form C financial summary.
- Debt above assets. Short-term plus long-term debt is larger than total assets in the Form C financial summary.
- Maximum ask above 10x revenue. The maximum offering amount is more than 10 times the most recent fiscal year revenue (or revenue is $0), per the Form C.
A check means "read this part of the filing closely." It is not a judgment about how the company will do.
Company website as listed in the Form C: https://www.blockframetech.com
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