SWANK ATLANTA BELTLINE LLC
View this filing on EDGAR (filing index, accession 0001880585-24-000001) | All Form C filings by this company on EDGAR
Filing details
| Company | SWANK ATLANTA BELTLINE LLC | (Form C, issuer information) |
|---|---|---|
| State | GA | (Form C, issuer information) |
| Platform | NSSC Funding Portal, LLC | (Form C, issuer information) |
| Filing date | 2024-10-21 | (EDGAR filing index) |
| Date of incorporation | 2021-05-07 | (Form C, issuer information) |
| Employees | 0 | (Form C, issuer information) |
| Security offered | Preferred Stock | (Form C, offering information) |
| Price per security | $1,000 | (Form C, offering information) |
| Target amount | $150,000 | (Form C, offering information) |
| Maximum ask | $1,200,000 | (Form C, offering information) |
| Offering deadline | 2025-04-30 | (Form C, offering information) |
| Platform compensation | $3,000 administrative fee + 5% of funds raised success fee | (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 | $34,800 | $5,800 | (Form C, financial summary) |
| Cost of goods sold | $0 | $0 | (Form C, financial summary) |
| Net income | -$123,830 | -$150,671 | (Form C, financial summary) |
| Taxes paid | $0 | $0 | (Form C, financial summary) |
| Cash and equivalents | $546 | $3,015 | (Form C, financial summary) |
| Accounts receivable | $0 | $0 | (Form C, financial summary) |
| Total assets | $1,493,657 | $1,491,292 | (Form C, financial summary) |
| Short-term debt | $17,025 | $11,233 | (Form C, financial summary) |
| Long-term debt | $1,158,226 | $1,037,823 | (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: 0001880585-24-000001.
"Together, these factors raise a substantial doubt regarding ’sthe ability Company to continue asa going concern at December ,31203 & December 31 ,.20st However, managementhasassessed these conditionsand isactivelypursuing seve strategiestomitigatetheseuncertainties,includingraisingcapitalviacrowdfundingand up townhouses on the land acquired by the company and will use those townhouses in the co ’s operations."
- 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: 0001880585-24-000001, 0001880585-24-000004.
"The company does not have any cash in hand or short-term liquid investments. 9 Name of Related Party Nature of Transactions Executed with Relationship The Swank Total amount paid/ with The Swank Atlanta LLC received during the Atlanta LLC during the year year 2023 MOTHUSI PHOMETSI CEO STRATEGIC PROJECTS HOLDINGS LLC STRATEGIC PROJECTS INC."
"The financial statements nclude do not anyiadjustments that might result from the outcome of t uncertainty. 9 Note4:RelatedPartyTransaction: Name of Related Party Nature of Transactions Executed with Relationship The Swank Total amount paid/ with The Swank Atlanta LLC received during the Atlanta LLC during the year year 2023 MOTHUSI PHOMETSI CEO STRATEGIC PROJECTS HOLDINGS LLC STRATEGIC PROJECTS INC."
- 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.
- 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://theswankatlanta.com/
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