Abundant Acres Farm
Farming
Overview
Raised: $9,911
Total Commitments ($USD)
Platform
Honeycomb
Start Date
02/12/2024
Close Date
04/04/2024
Min. Goal
$25,000
Max. Goal
$75,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
12.00%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
04/03/2024
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$194
# of Investors
18
Momentum
Not Funded
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Year Founded
2020
Industry
Farming & Agriculture
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Abundant Acres Farm is raising funds on Honeycomb. The farm is located in Warrengton, Virginia, and offers fresh and locally-grown fruits and vegetables. Abundant Acres Farm also makes shelf-stable products using its produce, including its award-winning Poppi’s Gourmet Hot Sauce. The business also contributes to the local community by supplying fresh fruits and vegetables to summer school programs and has forged partnerships with local restaurants. Dustin White founded Abundant Acres Farm in February 2020. The current crowdfunding campaign has a minimum target of $35,000 and a maximum target of $75,000. The campaign proceeds will be used for equipment, production, and hiring.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$175,233 |
$133,266 |
|
COGS |
$30,882 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-9,020 |
$24,884 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$11,458 |
$4,530 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$48,599 |
$17,307 |
|
Short-Term Debt |
$9,280 |
$9,801 |
|
Long-Term Debt |
$30,637 |
$22,342 |
|
Total Liabilities |
$39,917 |
$32,143 |
Financials as of: 02/12/2024
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