Sip Herbals
All-natural coffee alternative
Overview
Raised: $500
Total Commitments ($USD)
Platform
Honeycomb
Start Date
08/08/2023
Close Date
09/06/2023
Min. Goal
$30,000
Max. Goal
$60,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
11.75%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
09/07/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$17
# of Investors
1
Momentum
Not Funded
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Year Founded
2020
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Sip Herbals is raising funds on Honeycomb. The company makes caffeine-free coffee alternatives using natural and organic ingredients. Sip Herbals products are made using dandelion, chicory, and carob and have a rich coffee-like flavor. The products of Sip Herbals are available in a variety of flavors, including Pumpkin Spice, Peppermint Mocha, Signature Roast, and Cinnamon Roll, and are suitable for people looking for healthy alternatives to coffee. Orleatha Smith and Kelly Raulerson founded Sip Herbals in January 2020. The current crowdfunding campaign has a minimum target of $30,000 and a maximum target of $60,000. The campaign proceeds will be used for bulk ingredients, recyclable packaging, and retail marketing.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$103,484 |
$205,408 |
|
COGS |
$34,621 |
$56,419 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$20,540 |
$10,366 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$-57 |
$67,608 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$-387 |
$67,267 |
|
Short-Term Debt |
$34,957 |
$5,000 |
|
Long-Term Debt |
$97,439 |
$100,600 |
|
Total Liabilities |
$132,396 |
$105,600 |
Financials as of: 08/08/2023
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