The Cereal Lab
Cereal Bar and Creamery
Overview
Raised: $51,300
Total Commitments ($USD)
Platform
Honeycomb
Start Date
06/14/2023
Close Date
07/31/2023
Min. Goal
$50,000
Max. Goal
$100,000
Min. Investment
$100
Security Type
Debt
SEC Filing Type
RegCF
Interest Rate
12.50%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/06/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,091
# of Investors
65
Momentum
Funded
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Year Founded
2018
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Location
DECATUR, Georgia
The Cereal Lab is raising funds on Honeycomb. It is a cereal bar and creamery in Decatur, Georgia, that combines the nostalgia of cereal with the indulgence of creamery. The offerings of The Cereal Lab include customized cereal bowls and cereal-infused ice creams. The eatery offers a variety of cereals, toppings, and milk choices and enables customers to create their own cereal bowls based on their tastes and dietary needs. Cynthia Hernandez founded The Cereal Lab in February 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $100,000. The campaign proceeds will be used to purchase a food truck and new equipment, and open a second location.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$42,811 |
$32,579 |
|
COGS |
$12,789 |
$12,219 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$1,654 |
$-6,036 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$8,482 |
$715 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$39,797 |
$28,576 |
|
Short-Term Debt |
$13,612 |
$192 |
|
Long-Term Debt |
$23,900 |
$23,900 |
|
Total Liabilities |
$37,512 |
$24,092 |
Financials as of: 06/14/2023
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