West 32 Soju
Early Stage
Savor the moment with West 32 Soju
Overview
Raised: $80,144
Total Commitments ($USD)
Platform
StartEngine
Start Date
06/08/2020
Close Date
11/06/2020
Min. Goal
$9,991
Max. Goal
$249,990
Min. Investment
$235
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$9.39
Pre-Money Valuation
$4,400,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
11/29/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$534
# of Investors
120
Momentum
Funded
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Year Founded
2020
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
High
West 32 Soju, with a pre-money valuation of $4.4 million, is raising funds on StartEngine. The company makes natural and gluten-free New York soju which can be used to elevate fine cocktails. West 32 Soju is combining the Korean tradition and American craft to create a refined drink, true to its heritage. West 32 Soju was founded by Daniel Lee and Max Fine in 2015. The current round of crowdfunding has a minimum target of $9,990.96 and a maximum target of $249,989.97, and the proceeds will be used to expand brand awareness, increase public relations, increase the tasting capabilities in liquor stores, and hire more market managers. West 32 Soju manufactures two varieties: Original Soju and Reserve Soju, and sells them at high profit margins ranging between 50% and 65%.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$117,189 |
$91,368 |
|
COGS |
$73,780 |
$52,674 |
|
Tax |
$27 |
$129 |
| ||
| ||
|
Net Income |
$-78,807 |
$-72,015 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$17,164 |
$3,058 |
|
Accounts Receivable |
$27,711 |
$28,239 |
|
Total Assets |
$80,849 |
$50,521 |
|
Short-Term Debt |
$7,155 |
$8,364 |
|
Long-Term Debt |
$14,590 |
$8,245 |
|
Total Liabilities |
$21,745 |
$16,609 |
Financials as of: 06/08/2020
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