Folk Revival
Early Stage
High protein / low carb hot cereal made with acorns
Overview
Raised: $75,900
Total Commitments ($USD)
Platform
Wefunder
Start Date
10/12/2023
Close Date
02/02/2024
Min. Goal
$50,000
Max. Goal
$750,000
Min. Investment
$100
Security Type
Convertible Note
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$4,250,000
Discount
20%
Rolling Commitments ($USD)
Status
Active
Reporting Date
12/02/2023
Days Remaining
62
% of Min. Goal
152%
% of Max. Goal
10%
Likelihood of Max
Avg. Daily Raise
$1,488
Momentum
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Year Founded
2021
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B2C
Margin
Low
Capital Intensity
Low
Folk Revival, with a valuation of $4.25 million, is raising funds on Wefunder. The company makes high-protein and low-carb hot cereal using acorns. Folk Revival cereal is bringing acorns to the market as important heritage food and aims to bring a shift in consumers’ breakfast behavior. The hot cereal sells in over 100 stores and has planned authorizations in 165 more in 2024. David Cantor founded Folk Revival in November 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $750,000. The campaign proceeds will be used for marketing, selling expenses, cost of goods, and general and administrative expenses.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$733 |
$0 |
|
COGS |
$10,816 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-107,324 |
$-14,567 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$61,332 |
$1,000 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$80,102 |
$1,000 |
|
Short-Term Debt |
$9,117 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$9,117 |
$0 |
Financials as of: 10/12/2023
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