Hercules Mulligan

Hercules Mulligan

Early Stage

Lead the Ready-to-Drink Cocktail Revolution

Lead the Ready-to-Drink Cocktail Revolution

Overview

Raised this Round: Raised: $102,044

Total Commitments ($USD)

Platform

StartEngine

Start Date

06/17/2024

Close Date

09/16/2024

Min. Goal
$9,998
Max. Goal
$499,998
Min. Investment

$102

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.62

Pre-Money Valuation

$17,022,530

Year Founded

2019

Industry

Alcohol, Tobacco, & Recreational Drugs

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Location

Wilmington, Delaware

Business Type

Growth

Hercules Mulligan, with a valuation of $17.02 million, is raising funds on StartEngine. The company makes ready-to-drink cocktails using high-quality spirits. Hercules Mulligan cocktail is a blend of three rums, three rye whiskies, fresh organic ginger, and tailor-made bitters. The business allows consumers to enjoy a first-class bar-grade cocktail at home with no inconvenience and has sold over 100,000 bottles with 69% year-over-year sales growth. Steve Luttmann founded Hercules Mulligan in August 2019. The current crowdfunding campaign has a minimum target of $9,997.92 and a maximum target of $499,998.18. The campaign proceeds will be used for marketing, company employment, operations, working capital, and inventory.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$800,879

$481,698

COGS

$464,407

$263,279

Tax

$0

$0

 

 

Net Income

$-1,624,703

$-1,314,916

Summary Balance Sheet

FY 2023 FY 2022

Cash

$15,866

$387,728

Accounts Receivable

$220,088

$156,281

Total Assets

$1,197,177

$1,561,021

Short-Term Debt

$593,536

$414,096

Long-Term Debt

$307,290

$385,000

Total Liabilities

$900,826

$799,096

Financials as of: 06/17/2024
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Hercules Mulligan 09/15/2024 StartEngine $17,022,530 $102,044 Equity - Common Active RegCF
Hercules Mulligan 08/19/2023 StartEngine $17,507,877 $642,574 Equity - Common Funded RegCF
Hercules Mulligan 09/05/2022 StartEngine $15,031,159 $524,497 Equity - Common Funded RegCF
Hercules Mulligan 03/21/2022 StartEngine $9,000,000 $749,878 Equity - Common Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Hercules Mulligan on StartEngine 2024
Platform: StartEngine
Security Type: Equity - Common
Valuation: $17,022,530
Price per Share: $2.62

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