Gullo Seafood

Gullo Seafood

Seafood Business

Seafood Business

Overview

Raised this Round: Raised: $7,350

Total Commitments ($USD)

Platform

Honeycomb

Start Date

05/26/2024

Close Date

06/27/2024

Min. Goal
$60,000
Max. Goal
$124,000
Min. Investment

$100

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

12.50%

Term Length

3.0 years

Year Founded

2006

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B2C

Margin

Low

Capital Intensity

Low

Location

Westbury, New York

Business Type

Life Style

Gullo Seafood is raising funds on Honeycomb. It is a wholesale seafood business in Westbury, New York. Gullo Seafood caters to a variety of clients, including hospitals, airlines, hotels, and restaurants, and has been recognized as one of the Top 10 seafood distributors for its high quality and service. The business has been highlighted in various TV and radio talk shows and plans to open a retail location soon. Frank Gullo founded Gullo Seafood in December 2006. The current crowdfunding campaign has a minimum target of $60,000 and a maximum target of $124,000. The campaign proceeds will be used for inventory, the opening of the new retail space, and the purchase of equipment.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$13,217,381

$4,853,110

COGS

$9,235,060

$3,689,381

Tax

$0

$0

 

 

Net Income

$-333,883

$-456,585

Summary Balance Sheet

FY 2023 FY 2022

Cash

$1,015,022

$462,393

Accounts Receivable

$1,221,925

$1,066,365

Total Assets

$2,808,796

$2,497,764

Short-Term Debt

$2,027,826

$1,831,175

Long-Term Debt

$2,342,214

$1,857,949

Total Liabilities

$4,370,040

$3,689,124

Financials as of: 05/26/2024
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Gullo Seafood on Honeycomb 2024
Platform: Honeycomb
Security Type: Debt

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