Overview
Raised: $124,000
Total Commitments ($USD)
Platform
Honeycomb
Start Date
11/22/2023
Close Date
12/22/2023
Min. Goal
$60,000
Max. Goal
$124,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
10.00%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
12/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$4,276
# of Investors
90
Momentum
Funded
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Year Founded
1969
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Square Cafe is raising funds on Honeycomb. It is a staple breakfast and lunch spot in Pittsburgh, Pennsylvania. Square Cafe offers a seasonal menu, including vegan, vegetarian, gluten-free food and is known for its passion for the culinary craft, connection to the community, and maintaining a cooperative environment. The cafe also collaborates with local nonprofits for special events, fundraisers, and promotions and serves as a gallery to showcase the work of local artists. Sherree Goldstein founded Square Cafe in May 2003. The current crowdfunding campaign has a minimum target of $60,000 and a maximum target of $124,000. The campaign proceeds will be used for a new dining room, bar, furniture, kitchen equipment, and construction in the kitchen.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$1,880,819 |
$2,391,571 |
|
COGS |
$569,089 |
$742,146 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$354,669 |
$591,769 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$156,207 |
$78,540 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,808,372 |
$1,154,136 |
|
Short-Term Debt |
$67,160 |
$81,507 |
|
Long-Term Debt |
$1,097,494 |
$597,678 |
|
Total Liabilities |
$1,164,654 |
$679,185 |
Financials as of: 11/22/2023
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Square Cafe | 12/21/2023 | Honeycomb | - | $124,000 | Debt | Funded | RegCF |
| Square Cafe | 06/03/2020 | Honeycomb | - | $0 | Debt | Not Funded | RegCF |
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