Damn Right Cocktails
Early Stage
Agave Tequila Ready-to-Drink (RTD) Cocktails
Overview
Raised: $14,443
Total Commitments ($USD)
Platform
Netcapital
Start Date
05/09/2023
Close Date
10/31/2023
Min. Goal
$10,000
Max. Goal
$255,000
Min. Investment
$100
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$0.30
Pre-Money Valuation
$3,000,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
11/04/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$83
Momentum
Funded
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Year Founded
2020
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2B2C
Margin
Low
Capital Intensity
Low
Damn Right Cocktails, with a valuation of $3 million, is raising funds on NetCapital. The company makes USDA-certified and organic de Agave Tequila ready-to-drink cocktails. The cocktails are made using real tequila and other natural and organic ingredients in flavors, including Devil of a Lime and Son of a Basil. Damn Right Cocktails sells through retailers like Costco, Liquor N’ More, and Liquor Depot and has sold more than 3,100 cases since its launch. Gabby Fitzpatrick founded Damn Right Cocktails in October 2020. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $255,000. The campaign proceeds will be used for the production and cost of goods, shipping and warehousing, marketing and advertising, distributor fees, incentive programs, and market visits.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$71,817 |
$12,557 |
|
COGS |
$140,272 |
$94,337 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-205,910 |
$-213,887 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$4,738 |
$34,087 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$128,984 |
$235,927 |
|
Short-Term Debt |
$55,786 |
$0 |
|
Long-Term Debt |
$415,000 |
$405,000 |
|
Total Liabilities |
$470,786 |
$405,000 |
Financials as of: 05/09/2023
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