About this raise: 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.
Investment Overview
Not Funded: $11,850
Deal Terms
Total Commitments ($USD)
- Platform
- SMBX
- Start Date
- 01/31/2023
- Close Date
- 03/20/2023
$40,000
$120,000
$10
Debt
Seed
RegCF
10.00%
3.0 years
Company & Team
Company
- Year Founded
- 2018
- Industry
- Media, Entertainment & Publishing
- Tech Sector
- Distribution Model
- B2B/B2C
- Margin
- Low
- Capital Intensity
- Low
Financials
- Revenue +3% YoY
- $654,269
- Monthly Burn
- Profitable
- Cash on Hand
- $73,151
- Gross Margin
- 75%
Upgrade to gain access
-
$12.50 /month
billed annually - Free portfolio tracking, data-driven ratings, AI analysis and reports
- Plan Includes:
- Everything in Free, plus
- Company specific
Kingscrowd ratings and analyst reports
- Deal explorer and side-by-side comparison
- Startup exit and failure tracking
- Startup market filters and historical industry data
- Advanced company search ( with ratings)
- Get Edge Annual
Edge
Ratings 
Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $0
- VC Backed?
- No
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 03/20/2023 | SMBX | - | $11,850 | Debt | Not Funded | RegCF |
| 07/13/2022 | SMBX | - | $225,230 | Debt | Funded | RegCF |