Rooted In
Cannabis Business
Overview
Raised: $124,000
Total Commitments ($USD)
Platform
MainVest
Start Date
11/06/2022
Close Date
12/24/2022
Min. Goal
$100,000
Max. Goal
$124,000
Min. Investment
$100
Security Type
Revenue Share
Payment Schedule
Annually
SEC Filing Type
RegCF
Return Multiple
1.38X
Rev. Share %
0.28%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
12/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,638
# of Investors
59
Momentum
Funded
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Year Founded
2019
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
Rooted In is raising funds on MainVest. It is a community-conscious cannabis business in Boston, Massachusetts. The business will open as a boutique cannabis retail shop in the winter of 2022 and will offer high-quality curated products, online ordering for express pickup, expert budtenders and trained staff, and touch screen technology to assist customers. Rooted In works on a shared benefits model and channels its funds back to the BIPOC communities in Boston. Joanne Keith, Brian Keith, Solmon Chowdhury, and Rokeya Begum founded Rooted In in March 2019. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $124,000. The campaign proceeds will be used to complete the construction of the retail shop.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$0 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$1,219,005 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,669,790 |
$0 |
|
Short-Term Debt |
$8,800 |
$0 |
|
Long-Term Debt |
$1,660,990 |
$0 |
|
Total Liabilities |
$1,669,790 |
$0 |
Financials as of: 11/06/2022
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