Innovative Recordings

Innovative Recordings

Music and Video Production

Music and Video Production

Overview

Raised this Round: Raised: $11,850

Total Commitments ($USD)

Platform

SMBX

Start Date

01/30/2023

Close Date

03/20/2023

Min. Goal
$40,000
Max. Goal
$120,000
Min. Investment

$10

Security Type

Debt

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

10.00%

Term Length

3.0 years

Year Founded

2018

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

Low

Location

Washington, District of Columbia

Business Type

Growth

Innovative Recordings is raising funds on SMBX. The company is raising funds for its food and beverage business, Potomac Foods & Beverages. The main offering of the business is its drink, Shorty’s Sangria, which comes in three flavors: strawberry with cognac, green apple with cognac, and passion fruit with cognac. Potomac Foods & Beverages aims for people to enjoy the flavor, quality, and fun of its drink. Charles Garris founded Innovative Recordings in July 2018. The current crowdfunding campaign has a minimum target of $40,000 and a maximum target of $120,000. The campaign proceeds will be used for manufacturing and distribution, marketing, and working capital.

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$654,269

$635,578

COGS

$160,400

$137,352

Tax

$0

$0

 

 

Net Income

$5,568

$127,674

Summary Balance Sheet

FY 2021 FY 2020

Cash

$73,151

$124,288

Accounts Receivable

$41,011

$4,763

Total Assets

$118,729

$250,988

Short-Term Debt

$79,906

$53,427

Long-Term Debt

$0

$0

Total Liabilities

$79,906

$53,427

Financials as of: 01/30/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Innovative Recordings 03/19/2023 SMBX - $11,850 Debt Not Funded RegCF
Innovative Recordings 07/12/2022 SMBX - $225,230 Debt 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.

Employee History

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Innovative Recordings on SMBX 2023
Platform: SMBX
Security Type: Debt

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