SUMAC

SUMAC

Restaurant

Restaurant

Overview

Raised to Date: Raised: $700

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    Open SEC Filing

Interest Rate

12.50%

Term Length

3.0 years

Rolling Commitments ($USD)

Status

Active

Reporting Date

05/17/2024

Days Remaining

4

% of Min. Goal

1%

% of Max. Goal

1%

Likelihood of Max
unlikely
Avg. Daily Raise

$18

# of Investors

3

Momentum
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Year Founded

2020

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Location

Los Angeles, California

Business Type

Life Style

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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SUMAC on Honeycomb 2024
Platform: Honeycomb
Security Type: Debt

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