Diem Cannabis
Legal Cannabis Business
Overview
Raised: $600
Total Commitments ($USD)
Platform
MainVest
Start Date
09/15/2021
Close Date
12/03/2021
Min. Goal
$249,000
Max. Goal
$250,000
Min. Investment
$100
Security Type
Revenue Share
Series
Pre-Seed
SEC Filing Type
RegCF
Return Multiple
1.50X
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
12/02/2021
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$8
# of Investors
4
Momentum
Not Funded
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Year Founded
2019
Industry
Healthcare & Pharmaceuticals
Tech Sector
CommerceTech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Diem Cannabis is raising funds on MainVest. It is an award-winning cannabis delivery platform that offers search engine optimization, operation flow, and regulatory compliance. The platform has delivered over 75,000 cannabis home delivery orders and has made Diem one of the top home delivery companies in the US. Diem Cannabis has an average monthly revenue of $1.3 million and won the 2020 G.O.A.T. Cup for best-in-class flower. Chris Mitchem founded Diem Cannabis in 2017. The current crowdfunding campaign has a minimum target of $249,000 and a maximum target of $250,000. The campaign proceeds will be used to build a world-class marijuana farm in Massachusetts.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$10,982,096 |
$3,775,694 |
|
COGS |
$9,171,749 |
$2,727,394 |
|
Tax |
$629,626 |
$52,046 |
| ||
| ||
|
Net Income |
$331,382 |
$138,639 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$1,393,071 |
$2,004,555 |
|
Accounts Receivable |
$20,774 |
$0 |
|
Total Assets |
$6,138,818 |
$4,242,023 |
|
Short-Term Debt |
$2,873,441 |
$2,028,457 |
|
Long-Term Debt |
$2,373,623 |
$1,538,824 |
|
Total Liabilities |
$5,247,064 |
$3,567,281 |
Financials as of: 09/15/2021
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