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Offerings / Regulation CF / TibaRay, Inc.

TibaRay, Inc.

Regulation Crowdfunding offering on Wefunder · Form C filed March 4, 2026 · Fremont, California

Repeat issuerPreferredRevenue over $1MCorporation, DelawareHealthcareMedical device (radiotherapy linear accelerators)

TibaRay, Inc. is a Delaware corporation in Fremont, California that is developing FLASH radiotherapy technology, including the PHASER platform and Galactica 8 MV linear accelerator, for cancer treatment. The company is early stage, has not reported profits, reported 2024 total revenue of $1,238,112 (mostly grant income) against a net loss of $4,554,641, and is offering up to $5,000,000 of Series A Preferred Stock with a $50,000 target.

Registry notesThe auditor and Note 3 state substantial doubt about the company's ability to continue as a going concern, with a working capital deficit of $2,733,024 at December 31, 2024, and the Legalist credit line is secured by the company's government-receivable accounts. The Form C use-of-proceeds percentages for the $50,000 target sum to 130%, and Class 2 common voting is stated as 10 votes per share in the Form C but five votes per share in the financial statements.

Profile details below were extracted automatically from the issuer's filing documents. Figures in the financial table come directly from the SEC's structured Form C data.

Offering terms

Security
Preferred Stock
Maximum
$5,000,000.00
Price
$5.28 per unit
Pricing method
Dividing pre-money valuation $60,030,754.00 (or $54,004,939.75 for investors in the first $299,995.75) by number of shares outstanding on fully diluted basis, including assuming all SAFEs and convertible notes convert.
Deadline
April 30, 2026
Oversubscriptions
Accepted
Intermediary
Wefunder Portal LLC
Funding portal, SEC file 007-00033
Intermediary fee
6.9% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.
Intermediary equity
No
Co-issuer
TibaRay I, a series of Wefunder SPV, LLC
TibaRay I EB, a series of Wefunder SPV, LLC

Financials as filed

ItemMost recent FYPrior FY
Revenue$1,238,112$2,560,323
Cost of goods sold$1,610,749$2,820,050
Net income (loss)-$4,554,641-$3,593,273
Total assets$5,144,373$6,392,491
Cash and equivalents$680,260$938,451
Accounts receivable$0$300,662
Short-term debt$3,692,947$8,057,371
Long-term debt$13,052,683$5,399,455
Taxes paid$0$0

Two fiscal years as reported on the Form C cover sheet. 12 employees. Offered in 56 states.

Use of proceeds

At $50,000 target: 30% product development, 50% manufacturing and prototyping, 43.1% commercialization and partnerships, 6.9% Wefunder fees (stated percentages total 130%). At $5,000,000 maximum: 25% product development, 35% manufacturing and prototyping, 15% regulatory, clinical and quality control, 10% commercialization and partnerships, 8.1% working capital and operations, 6.9% Wefunder fees.

Valuation

Priced round at $5.28 per share of Series A Preferred Stock, based on a $60,030,754 pre-money valuation (fully diluted, including SAFEs and convertible notes). Investors in the first $299,995.75 (and Wefunder VIP members) pay $4.75 per share, a 10% discount, on a $54,004,939.75 pre-money valuation. Bonus shares: 5% for investments of at least $100,000 and 10% for at least $1,000,000 (non-stacking). The Form C states the price was set arbitrarily by the company without an outside appraisal.

Prior raises

Not stated

Financial statements

Financial statements for fiscal years ended December 31, 2024 and 2023 are audited by Artesian CPA, LLC (Denver, Colorado), with an unmodified opinion dated November 25, 2025 that includes a substantial doubt going concern paragraph.