This is a draft of the Form C Progress Update to be filed with the SEC.

Use this page to see annotations from Wefunder or to make changes and updates. If you are working with a lawyer, you can invite them to edit this document below.

Form C Progress Update

Ian Kuliasha
BE ADVISED

This filing will not be reviewed by Wefunder.
The information below will be submitted to the SEC on your behalf.

Cover Page

Name of issuer:

Hobbydb Corp
  • Form:
    Corporation
  • Jurisdiction of Incorporation/Organization:
    DE
  • Date of organization:
    9/30/2013

Physical address of issuer:

2405 Broadway St

 Boulder CO 80304

Website of issuer:

https://www.hobbydb.com

Name of intermediary through which the offering will be conducted:

Wefunder Portal LLC

CIK number of intermediary:

0001670254

SEC file number of intermediary:

007-00033

CRD number, if applicable, of intermediary:

283503

Amount of compensation to be paid to the intermediary, whether as a dollar amount or a percentage of the offering amount, or a good faith estimate if the exact amount is not available at the time of the filing, for conducting the offering, including the amount of referral and any other fees associated with the offering:

5.5% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.

Any other direct or indirect interest in the issuer held by the intermediary, or any arrangement for the intermediary to acquire such an interest:

No

Type of security offered:

  • Common Stock
  • Preferred Stock
  • Debt
  • Other

If Other, describe the security offered:

Target number of securities to be offered:

133,334

Price:

$0.600000

Method for determining price:

Dividing pre-money valuation ($9,544,083) by number of shares outstanding on fully diluted basis.

Target offering amount:

$80,000.40

Oversubscriptions accepted:

  • Yes
  • No

If yes, disclose how oversubscriptions will be allocated:

  • Pro-rata basis
  • First-come, first-served basis
  • Other

If other, describe how oversubscriptions will be allocated:

As determined by the issuer

Maximum offering amount (if different from target offering amount):

$1,069,999.80

Deadline to reach the target offering amount:

4/17/2020 1
NOTE: If the sum of the investment commitments does not equal or exceed the target offering amount at the offering deadline, no securities will be sold in the offering, investment commitments will be cancelled and committed funds will be returned.

1 Deadline will be adjusted to be 180 days from when filed with SEC.

Current number of employees:

12
Most recent fiscal year-end: Prior fiscal year-end:
Total Assets: $428,277.00 $374,767.00
Cash & Cash Equivalents: $155,950.00 $110,174.00
Accounts Receivable: $34,781.00 $41,513.00
Current Liabilities: $35,664.00 $41,243.00
Non-Current Liabilities: $132,978.00 $399,475.00
Revenues/Sales: $313,961.00 $161,776.00
Cost of Goods Sold: $31,923.00 $31,774.00
Taxes Paid: $0.00 $0.00
Net Income: ($728,861.00) ($881,550.00)

Select the jurisdictions in which the issuer intends to offer the securities:

AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, B5, GU, PR, VI, 1V

Describe the progress of the offering:

The final number is $273,629.40 in investments.