CanEx

Growth Stage

The cannabis delivery app for Southern California and beyond

Overview

Raised to Date: Raised: $5,950

Total Commitments ($USD)

Platform

Republic

Start Date

02/15/2023

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    Open SEC Filing

Valuation Cap

$25,000,000

Discount

0%

Rolling Commitments ($USD)

Status

Active

Reporting Date

03/23/2023

Days Remaining

23

% of Min. Goal

24%

% of Max. Goal

0%

Likelihood of Max
unlikely
Avg. Daily Raise

$165

# of Investors

16

Momentum
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Year Founded

2019

Industry

Logistics, Delivery, & Supply Chain

Tech Sector

Retailtech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

Montebello, California

Business Type

Growth

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

Most Recent Year Prior Year

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

Most Recent Year Prior Year

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: 02/15/2023
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CanEx on Republic 2023
Platform: Republic
Security Type: SAFE
Valuation: $25,000,000

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