For Bitter For Worse

For Bitter For Worse

[Closed for Investment] For Bitter For Worse, with a valuation of $4 million, is raising funds on MicroVentures. The company makes non-alcoholic cocktails for discerning drinkers who are abstaining from alcohol. It uses high-quality ingredients to create layered and robust drinks without any natural or artificial additives. For Bitter For Worse reported revenue growth of 700% through July 2021 compared to the same period in 2020. Shelley Elkovich and Jeff Heglie founded For Bitter For Worse in December 2018. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $400,000. The campaign proceeds will be used for general marketing, equipment purchases, and future wages.

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Investment Overview

Raised this Round: Raised: $222,345

Deal Terms

Total Commitments ($USD)

Platform
Microventures
Start Date
09/17/2021
Close Date
04/18/2022
Min. Goal
$25,000
Max. Goal
$400,000
Min. Investment

$100

Security Type

Convertible Note

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$3,000,000

Valuation Cap

$4,000,000

Discount

20%

Company & Team

Company

Year Founded
2018
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Location
Portland, Oregon
Business Type
Growth
Company Website
Visit Website

Team

Employees
2
Prior Founder Exits?
No
Founder Name
Shelly Elkovich
Title
Majority Managing Member
Founder Name
Jeff Heglie
Title
Managing Member

Financials

 Revenue
$98,266
 Monthly Burn
$6,419
 Runway
1.6 months
Gross Margin
51%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$98,266

$4,158

COGS

$48,313

$9,456

Tax

$0

$0

 

 

Net Income

$-77,030

$-62,483

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$10,037

$3,308

Accounts Receivable

$10,630

$0

Total Assets

$59,453

$3,308

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/18/2022 Microventures $4,000,000 $222,345 Convertible Note Funded RegCF
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For Bitter For Worse on MicroVentures 2021
Platform: Microventures
Security Type: Convertible Note
Valuation: $4,000,000

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