Philosopher Foods
Early Stage
Best nut butters on and for the planet - we're scaling regenerative agriculture!
Overview
Raised: $104,411
Total Commitments ($USD)
Platform
Wefunder
Start Date
10/31/2022
Close Date
04/30/2023
Min. Goal
$50,000
Max. Goal
$124,000
Min. Investment
$100
Security Type
Convertible Note
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$6,400,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$580
# of Investors
98
Momentum
Funded
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Year Founded
2014
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Philosopher Foods, with a valuation of $6.4 million, is raising funds on Wefunder. The company makes craft nut butters that are made in small batches for enhanced texture, flavor, and nutrition. The business is scaling regenerative agriculture and creating its Regenerative Organic Certified and Glyphosate Residue Free certified almond and coconut butters. Philosopher Foods grew 36% in 2020 and 40% in 2021 and is on track for a record year in 2022. Tim Richards founded Philosopher Foods in May 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 marketing, hiring, capital expenses for production needs, and working capital.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$831,044 |
$572,281 |
|
COGS |
$406,327 |
$167,371 |
|
Tax |
$800 |
$3,326 |
| ||
| ||
|
Net Income |
$-185,400 |
$47,192 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$61,774 |
$21,048 |
|
Accounts Receivable |
$161,358 |
$17,553 |
|
Total Assets |
$453,850 |
$228,836 |
|
Short-Term Debt |
$116,910 |
$82,222 |
|
Long-Term Debt |
$509,133 |
$141,676 |
|
Total Liabilities |
$626,043 |
$223,898 |
Financials as of: 10/31/2022
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