Saucy Asian
Restaurants And Bars
Overview
Raised: $37,020
Total Commitments ($USD)
Platform
SMBX
Start Date
10/17/2023
Close Date
11/30/2023
Min. Goal
$20,000
Max. Goal
$124,000
Min. Investment
$10
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
10.75%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
12/03/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$841
Momentum
Funded
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Year Founded
2022
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Saucy Asian is raising funds on SMBX. The restaurant is based in San Francisco, California, and serves Korean fusion delights. Saucy Asian’s offerings are authentically inauthentic, naturally healthy, and include burritos, bowls, and wings. The business brings the taste of Seoul street food culture to modern customers in a hip and approachable way. Andrew Shinn founded Saucy Asian in September 2022. The current crowdfunding campaign has a minimum target of $20,000 and a maximum target of $124,000. The campaign proceeds will be used to open a second location in Emeryville, California.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$1,462,266 |
$1,271,257 |
|
COGS |
$326,272 |
$362,246 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$115,365 |
$110,526 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$71,949 |
$85,443 |
|
Accounts Receivable |
$-146,717 |
$-146,717 |
|
Total Assets |
$167,090 |
$223,638 |
|
Short-Term Debt |
$-191,440 |
$-84,226 |
|
Long-Term Debt |
$408,147 |
$422,713 |
|
Total Liabilities |
$216,707 |
$338,487 |
Financials as of: 10/17/2023
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