Cleveland Whiskey Bond

Cleveland Whiskey Bond

Asset-Backed Promissory Note, High ROI, Whiskey Conversion Option at Maturity

Asset-Backed Promissory Note, High ROI, Whiskey Conversion Option at Maturity

Overview

Raised to Date: Raised: $1,070,000

Total Commitments ($USD)

Platform

Wefunder

Start Date

12/09/2020

Close Date

03/01/2021

Min. Goal
$250,000
Max. Goal
$1,070,000
Min. Investment

$1,000

Security Type

Debt

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Rolling Commitments ($USD)

Status
Funded
Reporting Date

03/30/2021

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$13,210

# of Investors

493

Momentum
Funded
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Year Founded

2019

Industry

Alcohol, Tobacco, & Recreational Drugs

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Location

Cleveland, Ohio

Business Type

Life Style

Cleveland Whiskey Bond, a technology and innovation company disguised as a whiskey company, is raising funds on Wefunder. The company is issuing whiskey bonds paying at a fixed rate of 5% interest per annum. At maturity, the bondholders can either receive a cash payment or convert their interest into bottled premium Bourbon or Rye whiskey. Tom Lix founded Cleveland Whiskey Bond and has raised over $5 million since its inception. The proceeds of the current crowdfunding raise, with a minimum goal of $250,000 and a maximum goal of $1,070,000, will be used for additional distillation, fermentation, and processing equipment, expanded rack storage, database implementation, marketing, and other expenses. Cleveland Whiskey Bond has earned 80 medals globally and is expected to yield a 170% overall return.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$2,005,312

$1,687,182

COGS

$901,198

$710,834

Tax

$0

$0

 

 

Net Income

$-167,102

$-327,615

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$347,889

$568,248

Accounts Receivable

$232,956

$193,706

Total Assets

$1,425,629

$1,689,137

Short-Term Debt

$313,380

$529,474

Long-Term Debt

$617,243

$683,729

Total Liabilities

$930,623

$1,213,203

Financials as of: 12/09/2020
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Cleveland Whiskey Bond on Wefunder
Platform: Wefunder
Security Type: Debt

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