Magfast LLC is raising up to $4.50M on NetCapital Funding Portal Inc. in common stock at $15.77 each; in its filing revenue was $1.07M and it had 2 employees (Form C/A, 2026-10-13).
Magfast LLC filed a Regulation Crowdfunding offering with the SEC through NetCapital Funding Portal Inc., with a target of $10K and a maximum of $4.50M. As of November 6, 2026, the offering is open, with a deadline of April 30, 2027. The company gives its address as Cornwall On Hudson, NY (Form C/A, October 13, 2026).
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Key facts
- · Intermediary: NetCapital Funding Portal Inc. · Target: $10K · Maximum: $4.50M · Deadline: 2027-04-30 · Security: Common Stock · C/A
- · Intermediary: NetCapital Funding Portal Inc. · Target: $10K · Maximum: $4.50M · Deadline: 2027-04-30 · Security: Common Stock · C/A
- · Intermediary: NetCapital Funding Portal Inc. · Target: $10K · Maximum: $4.50M · Deadline: 2026-07-30 · Security: Common Stock · C/A
- · Intermediary: NetCapital Funding Portal Inc. · Target: $10K · Maximum: $4.50M · Deadline: 2026-08-01 · Security: Common Stock · C/A
- · Intermediary: NetCapital Funding Portal Inc. · Target: $10K · Maximum: $4.50M · Deadline: 2026-08-28 · Security: Common Stock · C
Magfast LLC, based in Cornwall On Hudson, NY, filed 12 Regulation Crowdfunding offering filings with the SEC, the latest on 2026-10-13, raising through NetCapital Funding Portal Inc.. It set a target of $10K and will accept up to $4.50M. The security offered is common stock at $15.77 each. As of its filings the offering is open, with a deadline of 2027-04-30. 18 filings in this family are on record for the company.
Terms at a glance
| Target | $10K |
| Maximum it will accept | $4.50M |
| Security | Common Stock |
| Price per unit | $15.77 (The price of the Securities was determined solely by the management and bears no relation to traditional measures of valuation such as book value or price-to-ea) |
| Units at the target | 635 |
| Raise above the target | accepted, first-come, first-served basis |
| Deadline | 2027-04-30 |
| Raising through | NetCapital Funding Portal Inc. |
| What the portal is paid, as filed | Up to 4.9% of amount raised for a successful offering and a listing fee of up to $10,000 |
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What the Full Report on Magfast LLC covers
The Short Answer
Which Company This Is
What They Do, And How The Money Works
Who Runs It, And How To Reach Them
The Money: Funding, Valuation, Runway
Who Pays Them, And Who They Are Up Against
Warning Bells
Sources
18 cited sources found
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The filing does not state a company valuation or a minimum investment; the offering page on NetCapital Funding Portal Inc. shows those. Check both before you invest.
Money raised before
Earlier raises by this company that are on file, with the amounts as filed. A figure for a raise is what the company reported, not a check of what it received.
| Filed | What | Amount as filed | Filing |
|---|---|---|---|
| 2026-04-17 | Crowdfunding offering (Form C) | $10K to $4.65M | filing |
| 2024-10-08 | Crowdfunding offering (Form C) | $10K to $3.60M | filing |
Offering filings
| Filed | Intermediary | Target | Maximum | Deadline | Security | Filing |
|---|---|---|---|---|---|---|
| 2026-10-13 | NetCapital Funding Portal Inc. | $10K | $4.50M | 2027-04-30 | Common Stock | C/A |
| 2026-07-31 | NetCapital Funding Portal Inc. | $10K | $4.50M | 2027-04-30 | Common Stock | C/A |
| 2026-07-23 | NetCapital Funding Portal Inc. | $10K | $4.50M | 2026-07-30 | Common Stock | C/A |
| 2026-07-23 | NetCapital Funding Portal Inc. | $10K | $4.50M | 2026-08-01 | Common Stock | C/A |
| 2026-06-23 | NetCapital Funding Portal Inc. | $10K | $4.50M | 2026-08-28 | Common Stock | C |
| 2026-04-24 | NetCapital Funding Portal Inc. | $10K | $4.65M | 2026-05-08 | Common Stock | C/A |
| 2026-04-23 | NetCapital Funding Portal Inc. | $10K | $4.65M | 2026-05-08 | Common Stock | C/A |
| 2026-04-17 | NetCapital Funding Portal Inc. | $10K | $4.65M | 2026-05-08 | Common Stock | C |
| 2025-03-21 | NetCapital Funding Portal Inc. | $10K | $3.60M | 2025-04-30 | Common Stock | C/A |
| 2024-11-26 | NetCapital Funding Portal Inc. | $10K | $3.60M | 2024-11-29 | Common Stock | C/A |
| 2024-11-21 | NetCapital Funding Portal Inc. | $10K | $3.60M | 2024-11-29 | Common Stock | C/A |
| 2024-10-08 | NetCapital Funding Portal Inc. | $10K | $3.60M | 2024-11-29 | Common Stock | C |
Financials the company filed
Figures from the C/A filed 2026-10-13, as the company reported them.
| As filed | Most recent fiscal year | Prior fiscal year |
|---|---|---|
| Revenue | $1.07M | $1.40M |
| Net income | -$1.88M | -$2.66M |
| Total assets | $3.04M | $2.26M |
| Cash and equivalents | $375K | |
| Short-term debt | $380K | |
| Long-term debt | $0 |
Employees at filing: 2.
Revenue went from $1.40M to $1.07M (-24%). Net loss was $1.88M, against a loss of $2.66M the year before. It reported $375K in cash and $380K in debt. These are the company's own figures from the Form C/A filed 2026-10-13.
Progress updates
2026-05-15, C-U:
End of offering. Issuer closed its offering with estimated gross proceeds of $444,320. The foregoing is in regard only to the amount raised under the Section 4(a)(6) exemption.
2025-05-07, C-U:
End of offering. Issuer closed its offering with estimated gross proceeds of $1,550,396. The foregoing is in regard only to the amount raised under the Section 4(a)(6) exemption.
2024-07-05, C-U:
End of offering. Issuer closed its offering with estimated gross proceeds of $1,310,739. The foregoing is in regard only to the amount raised under the Section 4(a)(6) exemption.
People who signed the filing
- Seymour Segnit, Board Member
- Amy Rau Segnit, Board Member
Every filing
| Filed | What it is | Filing |
|---|---|---|
| 2026-10-13 | Offering amended | C/A |
| 2026-07-31 | Offering amended | C/A |
| 2026-07-23 | Offering amended | C/A |
| 2026-07-23 | Offering amended | C/A |
| 2026-06-23 | Annual report | C-AR |
| 2026-06-23 | Offering | C |
| 2026-05-15 | Progress update | C-U |
| 2026-04-24 | Offering amended | C/A |
| 2026-04-23 | Offering amended | C/A |
| 2026-04-17 | Annual report | C-AR |
| 2026-04-17 | Annual report | C-AR |
| 2026-04-17 | Offering | C |
| 2025-05-07 | Progress update | C-U |
| 2025-03-21 | Offering amended | C/A |
| 2024-11-26 | Offering amended | C/A |
| 2024-11-21 | Offering amended | C/A |
| 2024-10-08 | Offering | C |
| 2024-07-05 | Progress update | C-U |
What to check before investing
- Read the offering page on NetCapital Funding Portal Inc.: it states the valuation or cap and the minimum investment, which the SEC filing does not.
- Compare the terms above with the numbers: what does the price imply against revenue of $1.07M?
- Look at who signed the filing and what else they have run (the founder Snapshot below).
- Check the deadline and what happens if the target is missed.
- You cannot easily sell a crowdfunding security; invest only what you can leave tied up.
A crowdfunding round is won in public. FoxPlug turns your commits, deploys and releases into the posts and visuals that keep the story moving while the offering is open.
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Where this comes from
A company raising money from the public under Regulation Crowdfunding has to file with the SEC before the offering opens, and has to raise through a single registered intermediary: a funding portal or a broker-dealer. The first filing, Form C, states how much the company is trying to raise, the most it will accept, the deadline, the security and its price, the intermediary and what the intermediary is paid, and two years of the company's own financial figures.
After that the company files amendments when terms change, progress updates as the raise moves, and an annual report each year until it stops reporting. Every row here is one of those filings, linked to the filing itself, so each figure can be checked at the source. Figures are exactly as the company filed them; where a filing leaves a field blank, so does this page. Nothing here is investment advice, and a filing is the company's own statement, not a verification of it.