SUMAC
Restaurant
Overview
Raised: $0
Total Commitments ($USD)
Platform
Honeycomb
Start Date
04/08/2024
Close Date
05/23/2024
Min. Goal
$50,000
Max. Goal
$100,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
12.50%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Active
Reporting Date
04/28/2024
Days Remaining
24
% of Min. Goal
0%
% of Max. Goal
0%
Likelihood of Max
Avg. Daily Raise
$0
Momentum
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Year Founded
2020
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
SUMAC is raising funds on Honeycomb. It is a restaurant in Los Angeles, California, known for its Mediterranean flavors and dining experiences. SUMAC offers a diverse menu of traditional dishes with modern twists and also caters to special events and gatherings. The restaurant has a loyal customer base and has been ranked among the Top 22 LA Mediterranean Restaurants. Eli Berchan founded SUMAC in November 2020. 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 new furniture, remodeling, and a new machine to make pasta.
Summary Profit and Loss Statement
| FY 2023 | FY 2022 | |
|---|---|---|
|
Revenue |
$322,439 |
$563,427 |
|
COGS |
$53,818 |
$68,766 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-18,227 |
$-7,250 |
Summary Balance Sheet
| FY 2023 | FY 2022 | |
|---|---|---|
|
Cash |
$18,719 |
$10,214 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$113,467 |
$104,963 |
|
Short-Term Debt |
$21,435 |
$-4,705 |
|
Long-Term Debt |
$308,521 |
$309,521 |
|
Total Liabilities |
$329,956 |
$304,816 |
Financials as of: 04/08/2024
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