Local Culture
Specialty Foods
Overview
Raised: $100,000
Total Commitments ($USD)
Platform
SMBX
Start Date
02/27/2022
Close Date
04/08/2022
Min. Goal
$25,000
Max. Goal
$100,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/29/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,564
Momentum
Funded
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Year Founded
2018
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
Local Culture is raising funds on SMBX. It is a certified organic ferment company focused on sustainability. The products of Local Culture include apple and hops ferment, beet and fennel ferment, juniper and sage ferment, golden beet and dill ferment, garlic, ginger, and chili ferment, and immune-boosting brine tonic. The company composts all of its kitchen scraps and never ferments or packages in plastic. Chris Frost-McKee, Cristina Africano, and Elissa Wolf-Blank founded Local Culture in February 2018. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $100,000. The campaign proceeds will be used for working capital, tenement improvements, and equipment.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$317,242 |
$159,728 |
|
COGS |
$139,416 |
$56,209 |
|
Tax |
$10,364 |
$5,788 |
| ||
| ||
|
Net Income |
$56,300 |
$12,357 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$28,893 |
$31,513 |
|
Accounts Receivable |
$25,954 |
$14,377 |
|
Total Assets |
$127,329 |
$81,060 |
|
Short-Term Debt |
$12,973 |
$1,004 |
|
Long-Term Debt |
$70,000 |
$70,000 |
|
Total Liabilities |
$82,973 |
$71,004 |
Financials as of: 02/27/2022
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