Western Reserve Distillers

Western Reserve Distillers

Closed: Mar. 2021

About this raise

Western Reserve Distillers, an organic craft distillery in Lakewood, Ohio, is raising funds on Honeycomb. The distillery produces a wide range of organic spirits, including gin, rum, vodka, bourbon, rye whiskey, wheat whiskey, Blanco, and reposado. Kevin Thomas and Ann Thomas founded Western Reserve Distillers in 2014. The proceeds of the current crowdfunding campaign, with a minimum goal of $75,000 and a maximum goal of $300,000, will be used to purchase barrels of aged whiskey from Kentucky, Indiana, and Tennessee and purchase raw materials for the agave spirit barrel-aged program. Western Reserve Distillers spirits have received several awards, including Tequila Aficionado’s Brand of Promise award.

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Investment Overview

Invested this round: $102,321

Deal Terms

Total Commitments

Platform
Honeycomb
Start Date
02/05/2021
Close Date
03/22/2021
Min. Goal
$75,000
Max Goal
$300,000
Min. Investment

$100

Security Type

Debt

SEC Filing Type

RegCF    Open SEC Filing

Company & Team

Company

Year Founded
2014
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
Location
Lakewood, Ohio
Business Type
Life Style
Company Website
Visit Website

Team

Employees
14
Prior Founder Exits?
No
Founder Name
Kevin Thomas
Title
CEO
Founder Name
Ann Thomas
Title
CMO

Financials

 Revenue +271% YoY
$2,015,263
 Monthly Burn
Profitable
 Cash on Hand
$201,777
 Gross Margin
38%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$2,015,263

$543,227

COGS

$1,246,429

$539,793

Tax

$0

$0

 

 

Net Income

$79,938

$-506,925

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$201,777

$215,165

Accounts Receivable

$0

$0

Total Assets

$2,060,196

$1,986,478

Short-Term Debt

$178,282

$188,777

Long-Term Debt

$2,063,837

$2,032,957

Total Liabilities

$2,242,119

$2,221,734

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
03/22/2021 Honeycomb - $102,321 Debt Funded RegCF
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Western Reserve Distillers on Honeycomb
Platform: Honeycomb
Security Type: Debt

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Warning: according to the close date for this deal, Western Reserve Distillers may no longer be accepting investments.

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