Overview
Raised: $37,500
Total Commitments ($USD)
Platform
Honeycomb
Start Date
08/06/2020
Close Date
09/21/2020
Min. Goal
$30,000
Max. Goal
$65,000
Min. Investment
$100
Security Type
Debt
Series
Seed
SEC Filing Type
RegCF
Rolling Commitments ($USD)
Status
Funded
Reporting Date
09/30/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$815
# of Investors
57
Momentum
Funded
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Year Founded
2015
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
High
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: 08/06/2020
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