Remedy Processors
Early Stage
Cannabis and hemp company that has generated ~$303k in revenue through Oct., up 1,474% compared to 2019
Overview
Raised: $146,261
Total Commitments ($USD)
Platform
Microventures
Start Date
11/19/2020
Close Date
06/20/2021
Min. Goal
$25,000
Max. Goal
$250,000
Min. Investment
$100
Security Type
Convertible Note
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$8,400,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
06/29/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$687
# of Investors
261
Momentum
Funded
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Year Founded
2018
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2B
Margin
Medium
Capital Intensity
High
Remedy Processors, with a valuation cap of $8.4 million, is raising funds on MicroVentures. The company offers remediation, isolation, separation, and custom formulation services and products to consumers and businesses in the hemp industry. Remedy Processors uses technology and in-house research and development to bring about unique cannabinoid experiences. Jason Burstein and Gabriel Mandell founded Remedy Processors in 2018. The proceeds of the current crowdfunding campaign, with a minimum raise of $25,000 and a maximum raise of $250,000, will be used towards equipment, general marketing, working capital, and general and administrative expenses. Remedy Processors generated record revenue of more than $60,700 in October 2020 and has generated over $303,000 in revenue through October 2020.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$20,275 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$6,276 |
$0 |
| ||
| ||
|
Net Income |
$-287,896 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$27,978 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$152,698 |
$0 |
|
Short-Term Debt |
$80,268 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$80,268 |
$0 |
Financials as of: 11/19/2020
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