Scissortails Coffee
Restaurant
Overview
Raised: $700
Total Commitments ($USD)
Platform
Honeycomb
Start Date
08/17/2023
Close Date
09/15/2023
Min. Goal
$50,000
Max. Goal
$100,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
11.00%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
09/16/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$24
# of Investors
3
Momentum
Not Funded
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Year Founded
2018
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Scissortails Coffee is raising funds on Honeycomb. It is a restaurant and bar in Woodward, Oklahoma, that specializes in New American food and specialty coffee. Scissortails Coffee provides a delicious combination of unique culinary experiences and high-quality coffee in an inviting atmosphere and makes its customers feel at home. The business has generated $1 million in revenue since 2021 and expects to generate $2 million in revenue in 2023. Dakota Davis and Kayla Davis founded Scissortails Coffee in March 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $100,000. The campaign proceeds will be used for refinancing high-interest debt, building a drive-through window, and remodeling the event space.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$1,815,892 |
$1,023,329 |
|
COGS |
$1,326,884 |
$845,408 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$813 |
$45,132 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$6,907 |
$0 |
|
Accounts Receivable |
$7,890 |
$0 |
|
Total Assets |
$326,071 |
$64,271 |
|
Short-Term Debt |
$148,883 |
$0 |
|
Long-Term Debt |
$0 |
$42,000 |
|
Total Liabilities |
$148,883 |
$42,000 |
Financials as of: 08/17/2023
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