Mystic Farm and Distillery
Growth Stage
A World-Class Spirits Producer with Solid Financials
Overview
Raised: $1,232,985
Total Commitments ($USD)
Platform
StartEngine
Start Date
10/15/2023
Close Date
04/17/2024
Min. Goal
$15,000
Max. Goal
$1,235,000
Min. Investment
$500
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$1.00
Pre-Money Valuation
$20,000,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/27/2024
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$6,701
# of Investors
581
Momentum
Funded
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Year Founded
2013
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Mystic Farm and Distillery, with a valuation of $20 million, is raising funds on StartEngine. The distillery makes some of the world’s finest spirits using local ingredients and its own grain. Mystic Farm and Distillery hand distills every small batch and creates world-class bourbon and other spirits from grain to glass. The business has been profitable for the past three years and generated $1.2 million in revenue in 2022. Jonathan Blitz founded Mystic Farm and Distillery in June 2013. The current crowdfunding campaign has a minimum target of $15,000 and a maximum target of $1.24 million. The campaign proceeds will be used for facilities and equipment upgrades, packaging upgrades, marketing, production, expansion of the warehouse used for storing barrels of aging whiskey, and compliance and overhead expenses.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$1,200,277 |
$1,106,590 |
|
COGS |
$179,073 |
$261,820 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$248,077 |
$270,845 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$38,708 |
$98,367 |
|
Accounts Receivable |
$14,519 |
$6,059 |
|
Total Assets |
$505,788 |
$319,750 |
|
Short-Term Debt |
$83,407 |
$91,772 |
|
Long-Term Debt |
$119,270 |
$0 |
|
Total Liabilities |
$202,677 |
$91,772 |
Financials as of: 10/15/2023
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