usefull

usefull

Zero waste business

Zero waste business

Overview

Raised to Date: Raised: $30,000

Total Commitments ($USD)

Platform

Honeycomb

Start Date

11/19/2023

Close Date

12/17/2023

Min. Goal
$25,000
Max. Goal
$30,000
Min. Investment

$100

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

12.00%

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

$1,111

# of Investors

40

Momentum
Funded
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Year Founded

2020

Industry

Beauty & Personal Care

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

Low

Location

Irving, Texas

Business Type

Growth

usefull is raising funds on Honeycomb. It is a refillery and zero-waste retail store that sells shampoo, soap, and laundry detergent in a refill format. usefull requests customers to bring their own bottles and refill the products in them to facilitate the reuse of containers and reduction of plastic waste. The business has helped customers divert over 4,000 plastic bottles from landfills and oceans and is currently profitable. Adriana Kao founded usefull in June 2020. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $35,000. The campaign proceeds will be used for store upgrades, furniture and fixtures, liability and property insurance, licenses and permits, and decor, signage, and graphics.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$30,246

$21,437

COGS

$14,723

$10,345

Tax

$0

$0

 

 

Net Income

$-1,232

$-5,446

Summary Balance Sheet

FY 2022 FY 2021

Cash

$2,839

$3,263

Accounts Receivable

$0

$0

Total Assets

$2,839

$3,263

Short-Term Debt

$1,626

$1,506

Long-Term Debt

$1,500

$1,500

Total Liabilities

$3,126

$3,006

Financials as of: 11/19/2023
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usefull on Honeycomb 2023
Platform: Honeycomb
Security Type: Debt

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