Herb & Olive
Early Stage
Specialty organic extra virgin olive oil that was featured in GQ in December 2021
Overview
Raised: $7,500
Total Commitments ($USD)
Platform
Microventures
Start Date
01/09/2022
Close Date
06/06/2022
Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment
$100
Security Type
Convertible Note
Series
Pre-Seed
SEC Filing Type
RegCF
Valuation Cap
$1,500,000
Discount
20%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
06/05/2022
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$51
# of Investors
28
Momentum
Not Funded
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Year Founded
2019
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Herb & Olive, with a valuation of $1.5 million, is raising funds on MicroVentures. The company makes special and organic extra virgin olive oil using the finest ingredients. The olive oil of Herb & Olive is sustainable and high-quality and is available through the company’s website, online retail stores, and physical retail stores. Herb & Olive’s olive oil has been featured in The Dieline and GQ and featured on many known Instagram accounts. David Zimmerman founded Herb & Olive in April 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The campaign proceeds will be used for hiring, purchasing raw ingredients in bulk, packaging, and advertising.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$16,778 |
$3,530 |
|
COGS |
$25,632 |
$26,416 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-8,854 |
$-22,886 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$11,403 |
$3,985 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$23,849 |
$17,223 |
|
Short-Term Debt |
$40,290 |
$30,645 |
|
Long-Term Debt |
$47,123 |
$1,000 |
|
Total Liabilities |
$87,413 |
$31,645 |
Financials as of: 01/09/2022
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