ChipMonk Baking
Early Stage
Healthy, nutritionally dense dessert choice
Overview
Raised: $150,000
Total Commitments ($USD)
Platform
NextSeed
Start Date
07/01/2020
Close Date
08/26/2020
Min. Goal
$75,000
Max. Goal
$150,000
Min. Investment
$100
Security Type
Convertible Note
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$3,500,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/30/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,727
# of Investors
161
Momentum
Funded
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Year Founded
2019
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
ChipMonk Baking, with a $3.5 million valuation cap, is raising crowdfunding on NextSeed. The company makes healthy and nutritious desserts that are safe for diabetics and fit into keto, low-carb, and other lifestyle diets. The products of ChipMonk Baking include cookies, brownies, and dry mixes to bake at home made from monk fruit and allulose as sweeteners. ChipMonk Baking was founded by Jose Hernandez and David Downing in 2019. The proceeds of the current round of crowdfunding, with a minimum goal of $75,000 and a maximum goal of $150,000, will be used to move baking and production to a larger facility, support online marketing efforts, and hire an operations manager. ChipMonk Baking reported an increase in online sales during the COVID-19 pandemic and has 33% month-over-month growth.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$70,143 |
$0 |
|
COGS |
$48,243 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-10,170 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$16,171 |
$0 |
|
Accounts Receivable |
$165 |
$0 |
|
Total Assets |
$20,372 |
$0 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 07/01/2020
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