Midnight Harvest
Early Stage
Morel mushroom farming - indoors under controlled environment
Overview
Raised: $79,001
Total Commitments ($USD)
Platform
Wefunder
Start Date
02/28/2023
Close Date
04/30/2023
Min. Goal
$50,000
Max. Goal
$124,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$3,500,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,317
# of Investors
68
Momentum
Funded
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Year Founded
2014
Industry
Farming & Agriculture
Tech Sector
AgriTech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
Midnight Harvest, with a valuation of $3.5 million, is raising funds on Wefunder. The company is engaged in morel mushroom farming indoors under a controlled environment. The business grows about 50-60 pounds of shiitake mushrooms every week and sells them to retail outlets and local restaurants. Midnight Harvest is based on repeatable scientific proof and process and has been featured in publications like Grow-Bio, Northern Express, and Edible Grand Traverse. Matthew Hall founded Midnight Harvest in March 2014. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $124,000. The campaign proceeds will be used for equipment, building rental and modifications, custom morel growing containers, working capital, and COGS.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$23,231 |
$13,541 |
|
COGS |
$5,284 |
$2,341 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$7,383 |
$2,943 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$8,042 |
$2,971 |
|
Accounts Receivable |
$474 |
$474 |
|
Total Assets |
$8,840 |
$3,445 |
|
Short-Term Debt |
$22,977 |
$24,546 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$22,977 |
$24,546 |
Financials as of: 02/28/2023
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