Midnight Harvest

Early Stage

Morel mushroom farming - indoors under controlled environment

Overview

Raised to Date: Raised: $57,201

Total Commitments ($USD)

Platform

Wefunder

Start Date

03/01/2023

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    Open SEC Filing

Valuation Cap

$3,500,000

Discount

0%

Rolling Commitments ($USD)

Status

Active

Reporting Date

03/27/2023

Days Remaining

34

% of Min. Goal

114%

% of Max. Goal

46%

Likelihood of Max
likely
Avg. Daily Raise

$2,200

# of Investors

31

Momentum
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Year Founded

2014

Industry

Farming & Agriculture

Tech Sector

AgriTech

Distribution Model

B2B

Margin

Medium

Capital Intensity

Low

Location

Interlochen, Michigan

Business Type

Growth

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

Most Recent Year Prior Year

Revenue

$23,231

$13,541

COGS

$5,284

$2,341

Tax

$0

$0

 

 

Net Income

$7,383

$2,943

Summary Balance Sheet

Most Recent Year Prior Year

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: 03/01/2023
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Midnight Harvest on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $3,500,000

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