Island Hop
Food Business
Overview
Raised: $5,000
Total Commitments ($USD)
Platform
Honeycomb
Start Date
08/09/2024
Close Date
09/09/2024
Min. Goal
$25,000
Max. Goal
$30,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
14.25%
Term Length
3.0 years
Year Founded
2016
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
Island Hop is raising funds on Honeycomb. The food business is based in Missouri City, Texas, and specializes in fusion Caribbean cuisine. Island Hop blends traditional Caribbean flavors with contemporary culinary techniques and offers a diverse menu of dishes, including savory plantain tacos and spicy jerk chicken. The business originated from a volunteering initiative and has catered to high-profile events, like LL Cool J and The Roots. Victoria Montanez-Roberts founded Island Hop in May 2016. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of 30,000. The campaign proceeds will be used to purchase a grease trap, a steam table, and inventory.
Summary Profit and Loss Statement
| FY 2023 | FY 2022 | |
|---|---|---|
|
Revenue |
$3,077 |
$8,760 |
|
COGS |
$0 |
$436 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$1,356 |
$-16,449 |
Summary Balance Sheet
| FY 2023 | FY 2022 | |
|---|---|---|
|
Cash |
$914 |
$-1,744 |
|
Accounts Receivable |
$-11 |
$-11 |
|
Total Assets |
$1,420 |
$-1,596 |
|
Short-Term Debt |
$18,695 |
$17,547 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$18,695 |
$17,547 |
Financials as of: 08/09/2024
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Raise History
| Offering Name | Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Island Hop | 09/09/2024 | Honeycomb | - | $5,000 | Debt | Not Funded | RegCF |
No prior online funding rounds.
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