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

Business Type

Growth

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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