Cashlin Seeks OTC Quotation After Cashlin Flow Acquisition
The Wyoming software company is offering common stock on a best-efforts basis and says it will seek an OTC quotation.
Cashlin, a Wyoming corporation, sells cash-flow software that it says helps online supplement subscription brands optimize inventory reorders. The company acquired its principal asset, Cashlin Flow, from founder and CEO Daniel Hartmann and launched operations in June, securing three contracts through the end of that month. It describes June revenue and net income as not reflective of future performance because of platform amortization, public-company costs, and customer concentration.
The issuer is proposing a best-efforts, self-underwritten offering of common stock with no underwriter, no commissions, no minimum number of shares, and no escrow. Funds would be immediately available, and the offering window runs twelve months from the prospectus date, subject to earlier completion or termination at the company’s discretion. Shares outstanding before the offering are held entirely by two founders, including an August cash issuance at par value.
Cashlin said it intends to use proceeds for platform development, sales and marketing, repayment of a founder loan facility balance, and working capital. It said there is no existing market for its shares and that it intends to seek a quotation on OTC Markets, which may not occur. Limited staffing, it said, may constrain scalability and internal controls. Aloba, Awomolo & Partners audited the financial statements with no going-concern qualification.
The company is an emerging growth company and smaller reporting company and has elected reduced public reporting and extended accounting transition requirements. Investors are told to read the full prospectus, including risk factors, management’s discussion, and financial statements, before deciding whether to buy.