8 Myles

8 Myles

A manufacturer of gourmet foods

A manufacturer of gourmet foods

Overview

Raised this Round: Raised: $37,500

Total Commitments ($USD)

Platform

Honeycomb

Start Date

08/05/2020

Close Date

09/21/2020

Min. Goal
$30,000
Max. Goal
$65,000
Min. Investment

$100

Security Type

Debt

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Year Founded

2015

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

High

Location

Washington, District of Columbia

Business Type

Life Style

8 Myles, a manufacturer of wholesale foods, is raising funds on Honeycomb. The company wholesales to over 100 retailers, including Kings, Whole Foods, and Balduccis. 8 Myles makes crave-able, convenient, and clean comfort food, and has an incredible line of Mac N’ Cheeses. Myles Powell founded 8 Myles in 2015. The current crowdfunding campaign has a minimum raise of $30,000 and a maximum raise of $65,000, and the proceeds will be used for expansion of sales and marketing efforts and increasing the retail reach. 8 Myles produces and distributes through Union Kitchen and its business model is based on grocery store sales.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$40,384

$39,324

COGS

$33,088

$34,811

Tax

$0

$0

 

 

Net Income

$-34,599

$-27,333

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$2,966

$4,358

Accounts Receivable

$-722

$0

Total Assets

$1,901

$4,324

Short-Term Debt

$10,464

$157

Long-Term Debt

$24,853

$22,281

Total Liabilities

$35,317

$22,438

Financials as of: 08/05/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
8 Myles 12/29/2022 Honeycomb $4,500,000 $36,150 Convertible Note Funded RegCF
8 Myles 09/20/2020 Honeycomb - $37,500 Debt Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

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8 Myles on Honeycomb
Platform: Honeycomb
Security Type: Debt

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