Live Free Foods
Early Stage
Low FODMAP is the next Gluten Free
Overview
Raised: $0
Total Commitments ($USD)
Platform
Wefunder
Start Date
03/05/2020
Close Date
05/15/2020
Min. Goal
$50,000
Max. Goal
$107,000
Min. Investment
$250
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$1,250,000
Discount
20%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
05/23/2020
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2017
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
High
Live Free Foods, with a valuation cap of $1.5 million, is raising funds on WeFunder. The company creates low FODMAP food products for people suffering from Irritable Bowel Syndrome and helps them manage their symptoms. Live Free Foods started with its first product as the low FODMAP Ranch dressing and has sold over 6,000 bottles. The company was founded by Scot Savarese in 2017. The current round of crowdfunding has a minimum goal of $50,000 and a maximum goal of $107,000, and the proceeds will be used towards the production of inventory, content creating and advertising, and operating expenses. Live Free Foods already has over 3,000 online customers and has huge market potential.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$37,204 |
$50,553 |
|
COGS |
$25,450 |
$290,808 |
|
Tax |
$24 |
$0 |
| ||
| ||
|
Net Income |
$-32,387 |
$-24,168 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$54 |
$8,527 |
|
Accounts Receivable |
$897 |
$727 |
|
Total Assets |
$6,086 |
$22,990 |
|
Short-Term Debt |
$35,213 |
$20,716 |
|
Long-Term Debt |
$17,340 |
$1,333 |
|
Total Liabilities |
$52,553 |
$22,049 |
Financials as of: 03/05/2020
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