SOUND Foods
Early Stage
Forming Nutrition-rich Whole Foods Using Ultrasonic Waves
Overview
Raised: $205,250
Total Commitments ($USD)
Platform
Wefunder
Start Date
11/30/2023
Close Date
04/29/2024
Min. Goal
$50,000
Max. Goal
$1,200,000
Min. Investment
$100
Security Type
Convertible Note
Series
Pre-Seed
SEC Filing Type
RegCF
Valuation Cap
$24,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/04/2024
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,368
# of Investors
15
Momentum
Funded
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Year Founded
2022
Industry
Food, Beverage, & Restaurants
Tech Sector
Foodtech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
SOUND Foods, with a valuation of $24 million, is raising funds on Wefunder. The company makes nutrition-rich whole foods using ultrasonic waves. SOUND Foods’ ultrasonic process causes agglomeration of whole and powder ingredients and uses sound to make bars and food. The company’s food technology is suitable for US warfighters and consumers and keeps the nutrition intact. SOUND Foods makes superior consumer and military products and has over $6 million in military orders in hand for 2024. Don Dillon founded SOUND Foods in January 2022. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.2 million. The campaign proceeds will be used for advertising and PR, a down payment for equipment, personnel, product development, and legal fees.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-943,321 |
$0 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$323,714 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$2,249,089 |
$0 |
|
Short-Term Debt |
$26,265 |
$0 |
|
Long-Term Debt |
$3,166,145 |
$0 |
|
Total Liabilities |
$3,192,410 |
$0 |
Financials as of: 11/30/2023
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