Palm City Wines
Restaurants And Bars
Overview
Raised: $412,500
Total Commitments ($USD)
Platform
SMBX
Start Date
04/27/2023
Close Date
06/26/2023
Min. Goal
$20,000
Max. Goal
$400,000
Min. Investment
$10
Security Type
Debt
SEC Filing Type
RegCF
Interest Rate
9.50%
Rolling Commitments ($USD)
Status
Active
Reporting Date
06/03/2023
Days Remaining
23
% of Min. Goal
2,063%
% of Max. Goal
103%
Likelihood of Max
Avg. Daily Raise
$11,149
Momentum
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Year Founded
2019
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Location
SAN FRANCISCO, California
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: 04/27/2023
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