Palm City Wines

Palm City Wines

Restaurants And Bars

Restaurants And Bars

Overview

Raised to Date: Raised: $420,710

Total Commitments ($USD)

Platform

SMBX

Start Date

04/26/2023

Close Date

06/25/2023

Min. Goal
$20,000
Max. Goal
$400,000
Min. Investment

$10

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

9.50%

Term Length

5.0 years

Rolling Commitments ($USD)

Status
Funded
Reporting Date

07/01/2023

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$7,012

Momentum
Funded
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Year Founded

2019

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Location

SAN FRANCISCO, California

Business Type

Life Style

Palm City Wines is raising funds on SMBX. It is a restaurant and bar in San Francisco, California that serves as a neighborhood gathering space. During the pandemic, the business pivoted to convert into a wine and beer bottle shop also serving five varieties of Philly-style hoagie sandwiches. Palm City Wines is overall a wonderful place for cool beers, interesting wine, and good food made by good people. Dennis Cantwell and Monica Wong founded Palm City Wines in March 2019. The current crowdfunding campaign has a minimum target of $20,000 and a maximum target of $250,000. The campaign proceeds will be used for the buildout of a second location.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$1,762,115

$1,368,662

COGS

$1,429,819

$784,740

Tax

$0

$0

 

 

Net Income

$-11,034

$-88,272

Summary Balance Sheet

FY 2022 FY 2021

Cash

$14,893

$5,735

Accounts Receivable

$0

$0

Total Assets

$229,060

$438,280

Short-Term Debt

$267,088

$311,293

Long-Term Debt

$0

$0

Total Liabilities

$267,088

$311,293

Financials as of: 04/26/2023
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Palm City Wines on SMBX 2023
Platform: SMBX
Security Type: Debt

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