Pipe N Hot Grill
Restaurants
Overview
Raised: $4,250
Total Commitments ($USD)
Platform
Honeycomb
Start Date
02/12/2023
Close Date
03/12/2023
Min. Goal
$25,000
Max. Goal
$30,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
11.25%
Term Length
5.0 years
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
03/12/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$157
# of Investors
7
Momentum
Not Funded
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Year Founded
2013
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Pipe N Hot Grill is raising funds on Honeycomb. It is an award-winning seafood restaurant in Cleveland, Ohio. The offerings of the restaurant include freshly prepared and sizzling seafood plates, Po’ Boys, and its signature Bamba Tea mixer. Pipe N Hot Grill won the Neighborhood Transformation Incentive from the Cleveland Mayor in 2020, was selected as a member of the Navigator Lighthouse Foundation in 2021, and won a vendor pitch competition in 2023. Angela Sharpley founded Pipe N Hot Grill in April 2013. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $30,000. The campaign proceeds will be used for inventory and marketing.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$45,058 |
$45,332 |
|
COGS |
$20,473 |
$18,067 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$4,773 |
$8,421 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$1,122 |
$292 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$36,013 |
$43,184 |
|
Short-Term Debt |
$69,251 |
$72,017 |
|
Long-Term Debt |
$45,000 |
$6,500 |
|
Total Liabilities |
$114,251 |
$78,517 |
Financials as of: 02/12/2023
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