CypherTax

CypherTax

Early Stage

Elevating Transaction Tax Accuracy

Elevating Transaction Tax Accuracy

Overview

Raised to Date: Raised: $5,000,000

Total Commitments ($USD)

Platform

Equifund CFP

Start Date

09/12/2023

Close Date

09/22/2023

Min. Goal
$20,000
Max. Goal
$5,000,000
Min. Investment

$500

Security Type

Equity - Common

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.37

Pre-Money Valuation

$27,000,000

Rolling Commitments ($USD)

Status
Funded
Reporting Date

09/30/2023

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$277,778

Momentum
Funded
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Year Founded

2015

Industry

Tech Sector

Location

Jenkintown, Pennsylvania

CypherTax, with a valuation of $27 million, is raising funds on Equifund. The company is a tax management software firm aiming to significantly reduce taxpayer compliance burdens through its AI-powered platform. CypherTax's platform automates the reverse auditing and appeals process, potentially reducing the time down to 1-2 days and providing detailed reverse audit reports. With a potential sales pipeline of $20 million, the company is seeking $5 million to start scaling up and prepare for a potential IPO. Parent company Cypher Group Holdings was founded in 2015. The current crowdfunding campaign has a minimum funding goal of $19,999 and a maximum target of $4.99 million. The company intends to use the net proceeds of this offering on software engineering, artificial intelligence platform, marketing, and for other general corporate purposes.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$478,299

$254,406

COGS

$383,256

$234,655

Tax

$0

$0

 

 

Net Income

$6,459

$20,702

Summary Balance Sheet

FY 2022 FY 2021

Cash

$9,905

$3,446

Accounts Receivable

$0

$0

Total Assets

$9,905

$3,446

Short-Term Debt

$21,837

$21,837

Long-Term Debt

$676,128

$676,128

Total Liabilities

$697,965

$697,965

Financials as of: 09/12/2023
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CypherTax on Equifund 2023
Platform: Equifund CFP
Security Type: Equity - Common
Valuation: $27,000,000
Price per Share: $0.37

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