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Honeydrop

Operating

Honeydrop, Inc.

Food & Beverage · Malibu, TX · Founded 2006

From the Bee To The Bottle

Post-money valuation ⓘ
$17.6M
As of Nov 2021 · from Reg CF Offering (2020) · pre-money + amount raised, not a traded price
Total raised
$6,379,508
Crowd $365K · Private $6.0M · 3 rounds since 2020
Latest share price
$6.455
Section 4(a)(2) · Common Stock · Nov 2021 offering price · in today's shares

Financials

FY2018–FY2021 · from SEC filings · hover any figure for its source
$771K
−$547K
2018
$830K
−$362K
2019
$418K
−$199K
2020
$224K
−$473K
2021
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2018
FY2019 reviewed*
FY2020 reviewed
FY2021
Income statement
Revenue
$770,818
$829,515
$418,378
$224,375
Cost of goods sold
$320,932
$441,620
$196,990
$134,000
Gross margin
58%
47%
53%
40%
Net income
-$547,318
-$361,709
-$199,192
-$472,762
Taxes paid
$0
$0
$0
$0
Balance sheet
Cash
$30,814
$44,281
$5,056
$164,298
Accounts receivable
$183,754
$107,277
$46,402
$21,930
Total assets
$728,949
$641,654
$530,843
$880,238
Short-term debt
$7,289
$12,158
$4,150
$5,069
Long-term debt
$0
$0
$0
$0
Total liabilities
$7,289
$12,158
$4,150
$5,069
Other
Headcount
—
3
3
2

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, as the filing’s own report or certification states it. A dashed pill marked * is inferred instead: the SEC minimum for an offering that size, which the issuer may have exceeded. No pill means we couldn’t tell. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Pre-money — the valuation set before each round’s money came in
$17.3M
pre-money
Reg CF · Common · Nov 2020

Blue bars are the pre-money valuation the company stated for a priced round.

Share price over rounds

$7.87$3.935$6.455
Feb 2020Nov 2021
Round offering price or verified disclosed saleDisclosed sale, unverified or year-only

“Today's shares” restates every price in the share terms current now, so a price before a split or an LLC→corporation conversion is divided by that event's ratio (each event is cited on the round page). Disclosed sales come from the issuer's own filings (prior-offering lines, audited-statement notes) and are amount ÷ securities sold. A down round is a firm point more than 25 % below the previous firm point of the same share class on a comparable basis; the comparison ignores unverified and year-only lines.

Cap table

Principal holders% as the filing states it, May 24, 2022

  • Andrew Lorig15,928,468 Common Stock41.6%of company
  • David Luks6,461,035 Common Stock16.9%of company

Sold to the crowd

  • Reg CF · Nov 202052,154 shares at $7.00 in today's terms · sold as 521,536 shares at $0.70; since then a 1-for-10 reverse split (Dec 2021)$365.1K· 450 investors

From the company's SEC filings: share counts per class, each class's voting and conversion terms, and the holders of 20% or more that Form C requires (officers and 10%+ holders on Form 1-A). Filings name only large holders, so most owners — including crowd investors — are not listed, and a holder's percentage may be of its own class rather than of the whole company. Prices and crowd share counts are in today's share terms — adjusted for splits and conversions since they were sold. Hover a figure for its filing.

Fundraising history

Raised $365.1K / $1.1MInvestors 450Post-money $17.6M

Team

7 people
Andrew LorigFounder
President & CEO

Andrew is the President of Honeydrop where he is responsible for the marketing, sales, and overseeing operations for the company. Andrew has over 10 years of traditional beverage marketing and sales experience. He was previously CMO of Honeydrop where he passionately led the marketing for the company including ideating and creating new SKUs and forming partnerships with influencers and celebrities to generate buzz for the company. He also has experience managing and working with our largest distributors in NY and Los Angeles.

David LuksFounder
Founder & Board Director

David has over 20 years of CPG marketing and sales experience. He is the founder of Honeydrop, which he started after being diagnosed with cancer and wanting a low sugar lemonade with unrefined ingredients such as raw honey. Previously, David spent over eight years with PepsiCo where he developed marketing campaigns, launched new products, and managed the P&L for Pepsi, Diet Pepsi, Pepsi’s Energy Drink Portfolio, and SoBe Beverages Prior to PepsiCo, David worked with ACNielsen, where he provided market research and consulted for such CPG clients as Colgate Palmolive, the Hain Food Group, and Revlon. David currently works as an advisor for CPG brands in the supplement and plant protein spaces.

Lane Cheek
Creative Director of Media Production, Board Director

Lane is a film and tv producer and writer. She began her career as one of the youngest members of IATSE working in Set Design, Art Coordinating, and Assistant Prop Master for shows like “Modern Family”, “The Vampire Diaries” and “The Bachelor”. She recently produced the show, “License to Kill”, and the environmental documentary, “Our Planet 360”. She is currently in pre-production on a drama feature set to shoot in California this fall and co-wrote a rom-com feature that she is producing with Resonate Entertainment. She serves as a judge at the Mammoth Film Festival and resides in Los Angeles. Lane is a producer for Like Minded Entertainment, and works for the company approximately 5 hours a week.

Taylor Frost
Creative Director of Brand Development

Drawing from her background in Apparel with a focus on Creative Direction, Taylor Frost joined the Honeydrop team in 2019. Throughout her career, she has played a key role in record sales increases and company pivots for her brands, which range from Fortune 50 to the startup world. From Show Me Your Mumu and Dillard's department stores, to beverage and small accessory categories, Taylor has extensive experience navigating the full B to C customer lifecycle. She specializes in creating content and executing campaigns that engage the customer to the point that they feel ownership in the brand lifestyle, and become loyal consumers. For Honeydrop, she is responsible for visuals, content creation and brand positioning along with the Marketing team.

Bill Davis
Board Director

Bill is Founder & Portfolio Manager at Stance Capital. Prior to that Mr. Davis was co-founder and Managing Director of Empirical Asset Management, launched in 2014. Prior to co-founding Empirical, he was the founder and CEO of Ze-gen, a venture and private equity backed renewable energy company. Mr. Davis has served as CEO or founder of numerious other companies such as Database Marketing Corporation, Holland Mark and Cambridge Brand Analytics.

Jeremy Friedman
Board Director

Jeremy is currently COO of Revitin, an early-stage health care company focused on the oral microbiome and products that nurture the mouth’s native bacteria for optimal health. He is also a Managing Director at Green Circle Capital, an investment bank focused on M&A and capital raises in the health and wellness space. Previously he spent seven years on the buy-side, investing in the health and wellness industry, as well as special situations, where he worked for the family office Palm Ventures and the venture fund New Ground Ventures. Previously he spent 10 years at Bear Stearns and the boutique bank Integrated Finance where he focused on M&A. Prior to investment banking, Jeremy worked in Mexico City as a management consultant for a spin-off of Booz Allen Hamilton. He earned a B.A. from Stanford University and an MBA from the University of Chicago.

Katie Durko
Advisor to Board of Directors

Katie Durko is the co-founder of The Edit, a female-founded creative social media agency that builds lifestyle, beauty, celebrity & fashion brands, as well as personalities into trending and relevant household names. Prior to the development of The Edit, with an extensive background in digital marketing, social media, and public relations, Katie worked with brands such as Burberry and Monique Lhuillier, helping leverage their brand presence to its fullest potential. In late 2015, she founded a boutique social media agency called The Social Kat, specializing in social media management for brands.

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

Reg CF annual-report compliance

Delinquent

Filed 2 of 6 annual reports (FY2020–FY2025)

Missing: 2022, 2023, 2024, 2025

450 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 C-UOct 6, 20220001665160-22-002623
    EDGAR
  • Form C-ARMay 24, 20220001665160-22-001696
    EDGAR
  • Form C-UNov 30, 20210001665160-21-002129
    EDGAR
  • Form C/AOct 25, 20210001665160-21-001866
    EDGAR
  • Form C/AJul 28, 20210001665160-21-001352
    EDGAR
  • Form C-ARApr 29, 20210001665160-21-000732
    EDGAR
  • Form C/AApr 27, 20210001665160-21-000575
    EDGAR
  • Form CNov 27, 20200001665160-20-001490
    EDGAR
Source: ManualCIK 0001827695DEShare price $0.6455

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.