Truth Arts Inc. is raising up to $618K on OpenDeal Portal LLC in safe (simple agreement for future equity) at $0.01 each; in its filing revenue was $281K and it had 10 employees (Form C-AR, 2025-05-01).
Truth Arts Inc. filed a Regulation Crowdfunding offering with the SEC through OpenDeal Portal LLC, with a target of $1 and a maximum of $618K. As of November 6, 2026, the offering is past its deadline of August 23, 2024. The company gives its address as Hollywood, FL (Form C, July 25, 2024).
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Key facts
Truth Arts Inc., based in Hollywood, FL, filed a Regulation Crowdfunding offering with the SEC, the latest on 2024-07-25, raising through OpenDeal Portal LLC. It set a target of $1 and will accept up to $618K. The security offered is safe (simple agreement for future equity) at $0.01 each. As of its filings the offering is past its deadline of 2024-08-23. 3 filings in this family are on record for the company.
Terms at a glance
| Target | $1 |
| Maximum it will accept | $618K |
| Security | SAFE (Simple Agreement for Future Equity) |
| Price per unit | $0.01 (set by the company) |
| Units at the target | 100 |
| Raise above the target | accepted, first-come, first-served basis |
| Deadline | 2024-08-23 |
| Raising through | OpenDeal Portal LLC |
| What the portal is paid, as filed | None. |
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What the Full Report on Truth Arts Inc. 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
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The filing does not state a company valuation or a minimum investment; the offering page on OpenDeal Portal LLC shows those. Check both before you invest.
Offering filings
| Filed | Intermediary | Target | Maximum | Deadline | Security | Filing |
|---|---|---|---|---|---|---|
| 2024-07-25 | OpenDeal Portal LLC | $1 | $618K | 2024-08-23 | SAFE (Simple Agreement for Future Equity) | C |
Financials the company filed
Figures from the C-AR filed 2025-05-01, as the company reported them.
| As filed | Most recent fiscal year | Prior fiscal year |
|---|---|---|
| Revenue | $281K | $0 |
| Net income | -$5.21M | -$4.28M |
| Total assets | $4.90M | $9.75M |
| Cash and equivalents | $4.88M | |
| Short-term debt | $17K | |
| Long-term debt | $0 |
Employees at filing: 10.
Revenue went from $0 to $281K. Net loss was $5.21M, against a loss of $4.28M the year before. It reported $4.88M in cash and $17K in debt. These are the company's own figures from the Form C-AR filed 2025-05-01.
Progress updates
2024-09-13, C-U:
The Offering closed successfully on 9/10/2024, having received investment commitments of $1,344, although a final accounting has not taken place.
People who signed the filing
- Alexander Taub, Director
- Michael Schonfeld, Director
- Eliot Durbin, Director
Every filing
What to check before investing
- Read the offering page on OpenDeal Portal LLC: 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 $281K?
- 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.