Stay Cool
Early Stage
Innovative Kava and CBD Products - Relieve Stress Induced Symptoms in a Natural Way
Overview
Raised: $7,121
Total Commitments ($USD)
Platform
Wefunder
Start Date
01/01/2020
Close Date
04/29/2020
Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$4,000,000
Discount
10%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
05/02/2020
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$60
# of Investors
27
Momentum
Not Funded
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Year Founded
2017
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
Low
Stay Cool, with a valuation cap of $4 million, is raising funds on WeFunder. The company manufactures and sells relaxation beverages that help in reducing stress, providing sleep support, improving clarity and well being, and promoting sociability. In addition to the Kava beverages, Stay Cool is soon to introduce CBD products including beverages, edible gummies, calming balm, and pet soft chews. Stay Cool was founded by Tyler Adkins and Steven Wiggins, and has raised over $85,000 since its founding. The proceeds of the current round of crowdfunding, with a minimum goal of $50,000 and a maximum goal of $1,070,000, will be used towards production runs, business development, marketing, and salaries and wages. Stay Cool has partnered with three distributors and has already sold more than 55,000 bottles in over 40 states across the US.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$57,693 |
$0 |
|
COGS |
$69,445 |
$28,603 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-71,921 |
$-23,126 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$10,404 |
$16,502 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$30,282 |
$64,983 |
|
Short-Term Debt |
$47,973 |
$29,234 |
|
Long-Term Debt |
$37,254 |
$19,089 |
|
Total Liabilities |
$85,227 |
$48,323 |
Financials as of: 01/01/2020
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