Rangoon

Burmese Restaurant

Overview

Raised to Date: Raised: $101,600

Total Commitments ($USD)

Platform

MainVest

Start Date

06/14/2021

Close Date

10/22/2021

Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment

$100

Security Type

Revenue Share

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Rolling Commitments ($USD)

Status
Funded
Reporting Date

10/31/2021

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

$782

# of Investors

150

Momentum
Funded
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Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Medium

Capital Intensity

High

Location

Brooklyn, New York

Business Type

Life Style

Rangoon, a Burmese restaurant in Brooklyn, NY, is raising crowdfunding on MainVest. The restaurant serves authentic Burmese food, including vibrant salads, noodles, stew, curries, soup, and more. It brings comfort food made from simple and fresh ingredients with a casual and elegant atmosphere. Myo Moe and Daniel Bendjy founded Rangoon in February 2018. The proceeds of the current crowdfunding round, with a minimum raise of $50,000 and a maximum raise of $250,000, will be used to open a new location in NYC. Rangoon has a concise menu and minimalist interior design. It serves traditional Burmese recipes passed on from generations and beyond.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$375,558

$0

COGS

$112,838

$0

Tax

$0

$0

 

 

Net Income

$40,456

$-89,869

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$20,852

$4,973

Accounts Receivable

$0

$0

Total Assets

$25,825

$7,132

Short-Term Debt

$62,817

$63,452

Long-Term Debt

$203,770

$217,889

Total Liabilities

$266,587

$281,341

Financials as of: 06/14/2021
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Rangoon 04/15/2022 SMBX - $62,680 Debt Funded RegCF
Rangoon 10/22/2021 MainVest - $101,600 Revenue Share Funded RegCF
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Rangoon on MainVest 2021
Platform: MainVest
Security Type: Revenue Share

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