CanEx
Growth Stage
The cannabis delivery app for Southern California and beyond
Overview
Raised: $0
Total Commitments ($USD)
Platform
Republic
Start Date
02/14/2023
Close Date
04/15/2023
Min. Goal
$25,000
Max. Goal
$1,235,000
Min. Investment
$150
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Valuation Cap
$25,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
04/15/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2019
Industry
Logistics, Delivery, & Supply Chain
Tech Sector
Retailtech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
CanEx, with a valuation of $25 million, is raising funds on Republic. The company has developed a cannabis delivery app for Southern California and beyond. The app provides fast and easy delivery of premium quality cannabis products in about an hour, along with hassle-free returns and exchanges. CanEx generated $10 million in revenue in 2022 and is serving 175,000 clients with a repeat rate of 49%. Jim Damask and Shannon Bitzer founded CanEx in August 2019. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1.24 million. The campaign proceeds will be used for marketing, hiring, operating expenses, and vehicle fleet.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$13,042,719 |
$2,650,430 |
|
COGS |
$6,716,403 |
$1,281,724 |
|
Tax |
$196,582 |
$0 |
| ||
| ||
|
Net Income |
$-454,871 |
$524,615 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$262,411 |
$542,238 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,072,508 |
$1,517,991 |
|
Short-Term Debt |
$742,513 |
$764,969 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$742,513 |
$764,969 |
Financials as of: 02/14/2023
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