First Crop

Early Stage

CBD health and wellness company that develops, manufactures, and sells its branded CBD-based products

Analytics

Raised to Date: Raised: $176,142

Financials

Aggregate Commitments $

Platform

Microventures

Start Date

04/13/2021

Close Date

09/13/2021

Min. Goal

$50,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

Equity - Preferred

Funding Type

RegCF

Series

Seed

Pre-Money Valuation

$13,444,320

Rolling Commitments $

Status

Funded

Reporting Date

09/26/2021

Days Remaining

Funded

% of Min. Goal

352%

% of Max. Goal

16%

Likelihood of Max

Funded

Avg. Daily Raise

$1,151

Momentum

Funded

Logos provided by Clearbit

Location

Santa Fe, New Mexico

Industry

Healthcare & Pharmaceuticals

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Business Type

Growth

SEC Filing

Company Website

First Crop, with a pre-money valuation of $13.44 million, is raising funds on MicroVentures. The company makes and sells its branded CBD-based products in the consumer health and wellness space. It also offers CBD oil extraction and hemp processing services for a fee. David Weir, Jane Pinto, and David Armstrong founded First Crop in March 2019. The proceeds of the current crowdfunding campaign, with a minimum goal of $50,000 and a maximum goal of $1,070,000, will be used towards marketing, R&D, manufacturing, and general & administrative expenses. First Crop reported a 508% growth in monthly net revenue from September 2020 to February 2021. The company brought 24 new products to the market in the third and fourth quarters of 2020.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$331,362	$0
COGS	$341,320	$0
Tax	$0	$0


Net Income	$-1,472,629	$-1,549,170

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$323,401	$199,692
Accounts Receivable	$10,877	$0
Total Assets	$2,587,352	$1,925,609
Short-Term Debt	$394,908	$4,108
Long-Term Debt	$551,127	$647,459
Total Liabilities	$946,035	$651,567

Financials as of: 04/13/2021

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