First Crop

First Crop

Early Stage

CBD health and wellness company that develops, manufactures, and sells its branded CBD-based products

CBD health and wellness company that develops, manufactures, and sells its branded CBD-based products

Overview

Raised to Date: Raised: $176,142

Total Commitments ($USD)

Platform

Microventures

Start Date

04/12/2021

Close Date

09/13/2021

Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

Equity - Preferred

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.00

Early Bird Valuation

$10,755,456

Pre-Money Valuation

$13,444,320

Rolling Commitments ($USD)

Status
Funded
Reporting Date

09/29/2021

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

$1,151

# of Investors

272

Momentum
Funded
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Year Founded

2019

Industry

Healthcare & Pharmaceuticals

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Location

Santa Fe, New Mexico

Business Type

Growth

Company Website

First Crop, with a pre-money valuation of $13.44 million, is raising funds on MicroVentures. The company makes and sells its branded CBD-based products in the consumer health and wellness space. It also offers CBD oil extraction and hemp processing services for a fee. David Weir, Jane Pinto, and David Armstrong founded First Crop in March 2019. The proceeds of the current crowdfunding campaign, with a minimum goal of $50,000 and a maximum goal of $1,070,000, will be used towards marketing, R&D, manufacturing, and general & administrative expenses. First Crop reported a 508% growth in monthly net revenue from September 2020 to February 2021. The company brought 24 new products to the market in the third and fourth quarters of 2020.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$331,362

$0

COGS

$341,320

$0

Tax

$0

$0

 

 

Net Income

$-1,472,629

$-1,549,170

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$323,401

$199,692

Accounts Receivable

$10,877

$0

Total Assets

$2,587,352

$1,925,609

Short-Term Debt

$394,908

$4,108

Long-Term Debt

$551,127

$647,459

Total Liabilities

$946,035

$651,567
Financials as of: 04/12/2021
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First Crop on MicroVentures
Platform: Microventures
Security Type: Equity - Preferred
Valuation: $13,444,320
Price per Share: $1.00

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