Modica

Early Stage

Modica is the world's first Superfood Cocktail and Mocktail Mix!

Overview

Raised to Date: Raised: $40,550

Total Commitments ($USD)

Platform

Wefunder

Start Date

08/22/2022

Close Date

04/30/2023

Min. Goal

$50,000

Max. Goal

$250,000

Min. Investment

$100

Security Type

SAFE

Series

Seed

Funding Type

RegCF

Valuation Cap

$5,000,000

Discount Rate

20%

Rolling Commitments ($USD)

Status

Active

Reporting Date

02/05/2023

Days Remaining

84

% of Min. Goal

81%

% of Max. Goal

16%

Likelihood of Max
unlikely
Avg. Daily Raise

$243

Momentum
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Location

Louisville, Kentucky

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

Low

Business Type

Growth

Modica, with a valuation of $5 million, is raising funds on Wefunder. The company makes the world’s first superfood cocktail and mocktail mixes. The mixes of Modica are all-natural, low in sugar, and fortified with vitamins and antioxidants. The current flavors of Modica include the Turmeric Ginger Mule, Tart Cherry Old Fashioned, and Cucumber Aloe Margarita. The company has partnered with a distributor and entered over 50 stores. Eric Wentworth and Jd Mitchell founded Modica in September 2017. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The campaign proceeds will be used for hiring, marketing, operations, and R&D.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$76,207

$14,308

COGS

$62,533

$26,132

Tax

$0

$0

 

 

Net Income

$-18,371

$-29,580

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$23,584

$16,692

Accounts Receivable

$948

$3,581

Total Assets

$52,021

$59,459

Short-Term Debt

$56,028

$40,401

Long-Term Debt

$40,457

$45,151

Total Liabilities

$96,485

$85,552

Financials as of: 08/22/2022
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Modica on Wefunder 2022
$
Platform: Wefunder
Security Type: SAFE
Valuation: $5,000,000

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