Haw River Mushrooms
Farming/Composting
Overview
Raised: $75,000
Total Commitments ($USD)
Platform
Honeycomb
Start Date
10/23/2023
Close Date
11/27/2023
Min. Goal
$35,000
Max. Goal
$75,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
11.50%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
11/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,143
# of Investors
40
Momentum
Funded
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Year Founded
2018
Industry
Farming & Agriculture
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Haw River Mushrooms is raising funds on Honeycomb. It is an innovative mushroom farm based in Saxapahaw, North Carolina. Haw River Mushrooms grows 14 varieties of specialty culinary mushrooms, with 80% of the production focused on shiitake, oyster, and lion’s mane. The business also makes mushroom products, including crab cakes, mushroom jerky, and frozen soups, and has received several awards for its mushrooms and plant-based foods. Ches Stewart and Laura Stewart founded Haw River Mushrooms in June 2018. The current crowdfunding campaign has a minimum target of $35,000 and a maximum target of $75,000. The campaign proceeds will be used to pay off high-interest debt and build inventory of prepared foods.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$456,020 |
$363,549 |
|
COGS |
$92,720 |
$73,547 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-62,644 |
$1,662 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$-6,537 |
$-6,537 |
|
Accounts Receivable |
$13,549 |
$13,549 |
|
Total Assets |
$312,604 |
$329,052 |
|
Short-Term Debt |
$253,784 |
$248,733 |
|
Long-Term Debt |
$459,292 |
$415,992 |
|
Total Liabilities |
$713,076 |
$664,725 |
Financials as of: 10/23/2023
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