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Security Type
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CAFES
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Categories
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Retail, Alcohol, Food & Bev
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Min Investment
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$250
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Expected Close Date
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April 29, 2024
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Target Raise
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$50.00K-$1.24M
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Security Price
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$1
- Number of Employees
- 4
- Cash
- $215,422
- Revenue
- $60,914
- Short Term Debt
- $53,846
- Cost of Goods
- $86,575
- Long Term Debt
- $3,457,418
- Net Income
- $-1,662,386
Key Deal Facts
Expanded with direct-to-consumer sales in 38 states in February 2023
Expected to generate $7.5M+ in revenue in 2023 (not guaranteed)
Experienced leadership team with previous multi-million dollar exits across cannabis & entertainment
Patent application filed for product formulations of first-to-market functional skus
Featured in Bloomberg, Forbes, BevNET, and Trend Hunter
First infused drink in Michigan's adult use market and first national brand to distribute in Texas
Backed by high-profile cannabis industry veteran investors
Best-in-class formulations developed with industry-leading scientists
Management Team / Advisory Board Bios
Joe Reynolds CEO & Co-Founder• Founded & led Red Frog Events as CEO through a $50M+ exit
• Scaled the business to Inc. Magazine’s 9th fastest growing company in America
• Named to Forbes’ Most Promising CEOs Under 35 List
• Chicago Crain’s 40 Under 40, Lisa Hurwitz President & Co-Founder• Served as CMO for Grassroots Cannabis through $830M Curaleaf sale in 2020
• 20 years of success building CPG brands for P&G and Kimberly-Clark
• Founder of Women In Cannabis Executive Leadership Group
• Chicago Crain’s 40 Under 40
Amount Raised
:
$1,213,818
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ⓘ
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
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The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
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The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
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The value of the company compared to similar companies raising money from investors.
Valuation
Security Description
A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.
