Cornbread Hemp

Cornbread Hemp

Growth Stage

USDA-Certified Organic CBD

USDA-Certified Organic CBD

Overview

Raised this Round:
$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

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

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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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.

Valuation History

Price per Share History

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

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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