Cornbread Hemp
USDA-Certified Organic CBD
Overview
$425,592 - RegCF
$2,100,592 - Total
$2,100,592 - Total
Total Commitments ($USD)
Platform
Wefunder
Start Date
02/21/2023
Close Date
04/30/2023
Min. Goal
$50,009
Max. Goal
$324,995
Min. Investment
$100
Security Type
Equity - Preferred
Series
Series A
SEC Filing Type
RegCF
/ RegD 506(c)
Price Per Share
$13.23
Pre-Money Valuation
$9,998,268
Rolling Commitments ($USD)
Status
Active
Reporting Date
03/27/2023
Days Remaining
34
% of Min. Goal
851%
% of Max. Goal
131%
Likelihood of Max
Avg. Daily Raise
$12,517
# of Investors
436
Momentum
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Year Founded
2019
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
High
Cornbread Hemp, with a valuation of $9.99 million, is raising funds on Wefunder. The company has built on Kentucky’s 250-year cannabis tradition to create its CBD brand. The business runs a family-owned USDA organic farm and sells CBD products, including CBD oil, lotion, and gummies. Cornbread Hemp products are of superior quality and have a high number of return customers, with $300,000 in MRR from subscribers. Eric Zipperle and Jim Higdon founded Cornbread Hemp in January 2019. The current crowdfunding campaign has a minimum target of $50,009 and a maximum target of $324,994. The campaign proceeds will be used for digital marketing, lab equipment, and materials and inventory.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$1,855,863 |
$429,871 |
|
COGS |
$609,590 |
$177,363 |
|
Tax |
$175 |
$0 |
| ||
| ||
|
Net Income |
$-147,807 |
$-9,022 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$253,583 |
$401,142 |
|
Accounts Receivable |
$6,409 |
$3,948 |
|
Total Assets |
$608,450 |
$536,549 |
|
Short-Term Debt |
$692,518 |
$25,132 |
|
Long-Term Debt |
$98,763 |
$446,441 |
|
Total Liabilities |
$791,281 |
$471,573 |
Financials as of: 02/21/2023
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Analyst Report
Pending Review
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