Western Reserve Distillers
A family-owned organic craft distillery
Overview
Raised: $102,321
Total Commitments ($USD)
Platform
Honeycomb
Start Date
02/05/2021
Close Date
03/22/2021
Min. Goal
$75,000
Max. Goal
$300,000
Min. Investment
$100
Security Type
Debt
Series
Seed
SEC Filing Type
RegCF
Rolling Commitments ($USD)
Status
Funded
Reporting Date
03/31/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,274
# of Investors
59
Momentum
Funded
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Year Founded
2014
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
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.
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 |
Financials as of: 02/05/2021
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