Diem Cannabis

Diem Cannabis

Closed: Dec. 2021

About this raise

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.

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Investment Overview

Not Funded: $600

Deal Terms

Total Commitments

Platform
MainVest
Start Date
09/16/2021
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    Open SEC Filing

Return Multiple

1.50X

Company & Team

Company

Year Founded
2019
Industry
Healthcare & Pharmaceuticals
Tech Sector
CommerceTech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Location
Portland, Oregon
Business Type
Growth
Company Website
Visit Website

Team

Employees
19
Prior Founder Exits?
No
Founder Name
Christopher Mitchem
Title
CEO

Financials

 Revenue +110% YoY
$10,982,096
 Monthly Burn
Profitable
 Cash on Hand
$1,393,071
Gross Margin
16%

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

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
12/03/2021 MainVest - $600 Revenue Share Not Funded RegCF
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Diem Cannabis on MainVest 2021
Platform: MainVest
Security Type: Revenue Share

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