Brilliant Light Power, Inc, inventors of the SunCell, just submitted form D announcing $25.00 million equity financing. The date of first sale was 2016-07-31. Form D disclosures could be used by competitors to track and better understand Randell Mills’ operations. The information in Form D is usually highly confidential for ventures and startups and they don’t like revealing it. It reveals amount raised or planned to be raised as well as reasons for the financing. This could help competitors. Entrepreneurs usually want to keep their financing a ‘secret’ so they can stay in stealth mode for longer.
Brilliant Light Power was able to finance itself with $10.30 million so far. That is 41.19% of the fundraising. The reason for the financing was: unspecified. The fundraising still has about $14.70 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.