This company is no longer in business. Investors can get details about any potential exits or failures here.
Union Electric
Early Stage
Premium & affordable cannabis from California’s top cultivators.
Overview
Raised: $276,590
Total Commitments ($USD)
Platform
Republic
Start Date
06/30/2021
Close Date
11/01/2021
Min. Goal
$25,000
Max. Goal
$5,000,000
Min. Investment
$100
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Valuation Cap
$30,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
11/29/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,249
# of Investors
583
Momentum
Funded
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Year Founded
2020
Industry
Fitness & Wellness
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
Union Electric, with a $30 million valuation cap, is raising funds on Republic. The company sells premium and affordable cannabis flowers from the top cultivators of California. Union Electric does not invest in expensive infrastructure and has built its business through relationships and alliances with leaders across the supply chain. Alexander Max Goldstein founded Union Electric in January 2020. The current crowdfunding raise has a minimum goal of $25,000 and a maximum goal of $5,000,000, and the funds will be used for growth and expansion. Union Electric generated $900,000 in revenue in 2020 and $400,000 in revenue between May 15 and June 15, 2021.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$924,429 |
$0 |
|
COGS |
$779,871 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-644,070 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$670,675 |
$0 |
|
Accounts Receivable |
$43,534 |
$0 |
|
Total Assets |
$1,298,270 |
$0 |
|
Short-Term Debt |
$70,228 |
$0 |
|
Long-Term Debt |
$1,559,032 |
$0 |
|
Total Liabilities |
$1,629,260 |
$0 |
Financials as of: 06/30/2021
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