Cornbread Hemp

Cornbread Hemp

Growth Stage

USDA-Certified Organic CBD

USDA-Certified Organic CBD

Overview

Raised to Date:
$432,404 - RegCF
$2,107,404 - Total

Total Commitments ($USD)

Platform

Wefunder

Start Date

02/20/2023

Close Date

03/29/2023

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)    Open SEC Filing

Price Per Share

$13.23

Pre-Money Valuation

$9,998,268

Rolling Commitments ($USD)

Status
Funded
Reporting Date

04/01/2023

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$12,011

# of Investors

1,362

Momentum
Funded
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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

Location

Louisville, Kentucky

Business Type

Growth

Company Website

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

FY 2021 FY 2020

Revenue

$1,855,863

$429,871

COGS

$609,590

$177,363

Tax

$175

$0

 

 

Net Income

$-147,807

$-9,022

Summary Balance Sheet

FY 2021 FY 2020

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: 02/20/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Cornbread Hemp 03/28/2023 Wefunder $9,998,268 $2,107,404 Equity - Preferred Funded RegCF / RegD 506(c)
Cornbread Hemp 10/30/2020 Wefunder $4,000,000 $496,400 Convertible Note Funded RegCF
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Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

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Cornbread Hemp on Wefunder 2023
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $9,998,268
Price per Share: $13.23

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