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CARDINAL SPIRITS

Operating

Cardinal Spirits LLC

Alcohol · Founded 2011

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Award-winning craft spirits & canned cocktails from $6M ARR distillery

Valuation cap ⓘ
$20.0M
As of Aug 2023 · from CARDINAL SPIRITS Convertible Note 1 · a SAFE/note conversion ceiling, not a priced valuation
Total raised
$286,110
Across 1 round since 2023

Financials

FY2020–FY2021 · from SEC filings · hover any figure for its source
$7.6M
−$2.2M
2020
$6.3M
−$1.8M
2021
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2020
FY2021
Income statement
Revenue
$7,554,795
$6,338,046
Cost of goods sold
$7,223,245
$4,983,598
Gross margin
4%
21%
Net income
-$2,157,615
-$1,831,123
Taxes paid
$0
$0
Balance sheet
Cash
$128,586
$274,785
Accounts receivable
$1,004,825
$420,554
Total assets
$2,721,604
$1,984,880
Short-term debt
$2,210,823
$2,481,734
Long-term debt
$1,104,325
$2,411,692
Total liabilities
$3,315,148
$4,893,426
Other
Headcount
—
45

Figures as reported by the issuer in the filing shown on hover. Each year’s pill shows the assurance level of its filed statements — audited, reviewed (CPA review, less than an audit), or unaudited; no pill means the filing didn’t state one. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Post-money = pre-money + amount raised · caps marked
$20.0M
Valuation cap
CARDINAL SPIRITS Convertible Note 1

A dashed amber step is a SAFE/note valuation cap — a conversion ceiling agreed for that instrument, not a priced valuation of the company. Steps are not comparable across bases.

Fundraising history

CARDINAL SPIRITS Convertible Note 1ClosedReg CF · Convertible Note · via WeFunder
Raised $286.1K / $1.2MInvestors 345Valuation cap $20M

Team

2 people
Adam Quirk
CEO
Jeff Wuslich
President

Names and titles as disclosed on SEC Form C. Bios and photos come from the platform campaign page and may be out of date.

Reg CF annual-report compliance

Delinquent

Filed 0 of 4 annual reports (FY2022–FY2025)

Missing: 2022, 2023, 2024, 2025

345 investors
holder-count proxy

Reg CF issuers must file a Form C-AR each year until a Rule 202(b) termination trigger is met.

SEC filings

  • Form CMar 24, 20230001670254-23-000256
    EDGAR
  • Form DOct 4, 20180001574152-18-000001
    EDGAR
  • Form D/AFeb 3, 20140001574152-14-000001
    EDGAR
  • Form DMay 23, 20130001574152-13-000003
    EDGAR
Source: ManualCIK 0001574152

About this data. Figures are compiled from public sources — SEC EDGAR filings (Form C, C-AR, 1-A, 1-K) and funding-platform pages — and may be delayed, incomplete, or restated by the issuer. Financial statements are as reported by the issuer; each year is labeled with its assurance level (audited / reviewed / unaudited). A valuation cap is the conversion ceiling of a SAFE or convertible note, not an agreed company valuation; post-money figures are computed as pre-money plus amount raised and are not a traded price. Crowdonomics is not a broker-dealer, funding portal, or investment adviser; nothing here is investment advice or an offer to sell securities. Verify all figures against the linked EDGAR filings.