Cornbread Hemp
USDA-Certified Organic CBD
Analytics
Raised to Date: $496,400
Aggregate Commitments $
Platform
Wefunder
Start Date
04/06/2020
Close Date
10/31/2020
Min. Goal
$50,000
Max. Goal
$400,000
Min. Investment
$100
Security Type
Convertible Note
Funding Type
RegCF
Series
Pre-Seed
Valuation Cap
$4,000,000
Discount Rate
15%
Rolling Commitments $
Status
Funded
Reporting Date
11/01/2020
Days Remaining
Funded
% of Min. Goal
993%
% of Max. Goal
124%
Likelihood of Max
Funded
Avg. Daily Raise
$2,387
# of Investors
898
Momentum
Funded
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Location
Louisville, Kentucky
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Cornbread Hemp, with a valuation cap of $4 million, is raising funds on WeFunder. It is an authentic CBD brand that offers USDA-certified organic hemp wellness products to consumers in America. The products of Cornbread Hemp include CBD oils and other wellness products and are sold through health food stores, pharmacies, co-ops, and website. Cornbread Hemp was founded by Eric Zipperle and Jim Higdon in 2019 and has raised over $160,000 since its founding. The current round of crowdfunding has a minimum goal of $50,000 and a maximum goal of $107,000, and the funds will be used towards marketing initiatives, payroll and staff expansion, inventory expansion, and R&D. Cornbread Hemp generates an average monthly profit of $4,000 to $6,000 and reported 52% revenue growth from 2019 to 2020.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$180,734 |
$0 |
|
COGS |
$93,966 |
$0 |
|
Tax |
$175 |
$0 |
| ||
| ||
|
Net Income |
$-374 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$21,122 |
$0 |
|
Accounts Receivable |
$10,001 |
$0 |
|
Total Assets |
$120,428 |
$0 |
|
Short-Term Debt |
$20,702 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$20,702 |
$0 |
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