Cheers

A Leader in Alcohol-Related Health

Analytics

Raised to Date: $1,396,272

Aggregate Commitments $
Platform

StartEngine

Start Date

05/20/2021

Close Date

11/15/2021

Min. Goal

$9,973

Max. Goal

$4,999,979

Min. Investment

$117

Security Type

Equity - Common

Funding Type

RegCF

Series

Series A

Pre-Money Valuation

$49,454,908

Rolling Commitments $
Status

Active

Reporting Date

06/13/2021

Days Remaining

155

% of Min. Goal

14,000%

% of Max. Goal

28%

Likelihood of Max
extremely
Avg. Daily Raise

$58,178

# of Investors

1,163

Momentum
cool
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Location

Houston, Texas

Industry

Healthcare & Pharmaceuticals

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Business Type

High Growth

Cheers, with a pre-money valuation of $49.5 million, is raising crowdfunding on StartEngine. The company makes products that make people feel better after consuming alcohol. It helps protect the liver along with letting people enjoy their drinks. Brooks Powell founded Cheers in 2014. The proceeds of the current crowdfunding campaign, with a minimum target of $9,973.05 and a maximum target of $4,999,978.84, will be used to expand the product line, increase the retail presence, and launch a new brand of sugar-free hydration products called Lightspeed. Cheers has sold over 13 million doses of its products and acquired over 300,000 customers. The company generated a profit of $1.7 million in 2020.
Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$10,417,210

$8,217,412

COGS

$1,953,775

$1,659,732

Tax

$11,470

$3,197

 

 

Net Income

$1,712,638

$-352,480

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$2,182,487

$577,550

Accounts Receivable

$0

$0

Total Assets

$3,521,891

$2,058,765

Short-Term Debt

$227,962

$469,375

Long-Term Debt

$675,271

$683,371

Total Liabilities

$903,233

$1,152,746

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