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THE FARMER'S COW CALFE & CREAMERY

Operating

FC Development, Corp.

Agriculture · Norwich, CT · Founded 2019

A Profitable and Growing Farm-to-Table Fast Casual Restaurant Seeking Investment to Expand

Post-money valuation ⓘ
$27.2M
As of Apr 2026 · from Reg CF Offering (2026) · pre-money + amount raised, not a traded price
Total raised
$1,827,725
Crowd $351K · Private $1.5M · 4 rounds since 2021
Latest share price
$2.84
Reg CF · Class B Common Voting Stock · Apr 2026 offering price · down round

Financials

FY2019–FY2025 (no data for FY2021) · from SEC filings · hover any figure for its source
$116K
−$20K
2019
$616K
−$239K
2020
2021no data
$641K
−$877K
2022
$644K
−$140K
2023
$631K
−$99K
2024
$734K
−$118K
2025
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2019 reviewed*
FY2020 reviewed*
FY2022
FY2023
FY2024 reviewed
FY2025 reviewed
Income statement
Revenue
$115,870
$616,202
$641,128
$644,150
$631,281
$733,900
Cost of goods sold
$4,921
$241,780
$258,115
$280,468
$262,297
$333,763
Gross margin
96%
61%
60%
56%
58%
55%
Net income
-$19,741
-$238,717
-$876,994
-$139,893
-$98,840
-$117,789
Taxes paid
$7,267
$34,740
$7,679
$96,241
$0
$0
Balance sheet
Cash
-$527
$4,047
$3,310
$310,567
$310,567
$85,817
Accounts receivable
$0
$0
$0
$0
$29,901
$0
Total assets
$1,115,881
$1,147,619
$1,786,138
$1,987,158
$1,518,234
$1,635,923
Short-term debt
$30,311
$135,667
$7,577
$475
$440,048
$494,393
Long-term debt
$1,104,311
$895,693
$2,417,319
$1,515,284
$1,205,410
$629,371
Total liabilities
$1,134,622
$1,031,360
$2,424,896
$1,515,759
$1,645,458
$1,123,764
Other
Headcount
—
4
—
30
—
25

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
$5.0M
Valuation cap
$1.9M
est. pre-money
$27.0M
pre-money
Reg CF · SAFE · May 2021
Rule 506(c) · Common · May 2022
Reg CF · Class B Common Voting · Apr 2026

Blue bars are the pre-money valuation the company stated for a priced round. Dotted grey bars are our estimate for rounds that didn't state one: the round's share price × the shares outstanding in its filings. Same measure as blue, but rougher. Dashed amber bars are a SAFE or convertible note's valuation cap — the most it converts at, not what the company is worth, so don't compare them with the other bars.

Share price over rounds

$17.0745$8.5373$2.84
May 2022Apr 2026
Round offering price or verified disclosed saleDisclosed sale, unverified or year-onlyDown round · Apr 2026 (-83.4%)

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, and each class is drawn as its own line.

Cap table

Share counts as of Dec 31, 2020
ClassOutstandingVotes / shareShare of totalLast price
Common stock112,000—100.0%—

Sold to the crowd

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 $173.2K / $618KInvestors 62Post-money $27.2M
Raised $1MInvestors 4Est. pre-money $1.9M
Reg CF · SAFE · May 2021Closedvia WeFunder
Raised $178.3K / $1MInvestors 132Valuation cap $5M

Team

5 people
Edwin Molina
Chief Executive Officer & Director

Molina is a seasoned entrepreneur and executive with a proven track record in pioneering technology and scaling businesses. Featured in national media and trade journals as a pure entrepreneur, he served as President, CEO, and Board Member of USA Video Interactive Corp. starting in 1998, having previously held roles as Vice President and Senior Administrator overseeing marketing, administration, public relations, and investor/shareholder relations. In 1994, he led the deployment of the world's first patented Video-On-Demand (VOD) system in Rochester, New York, in partnership with Rochester Telephone, DEC, and Samsung—competing directly with Time Warner and AOL—while raising over $8 million, growing shareholders from 300 to over 5,000, and securing coverage in outlets like The Wall Street Journal, The New York Times, and Investor's Business Daily. His innovative leadership and ability to drive groundbreaking projects and capital raises bring strategic depth and execution expertise to FC Development Corp. as we expand The Farmer’s Cow® ecosystem nationwide.

Steven Matthew Lane
President and Director

As President of FC Development Corp., Lane leads strategy, operations, team development, and vertical positioning. A Connecticut native, and former NCAA All-American lacrosse player, Steve applies disciplined leadership from over a decade building and consulting businesses in the U.S. and internationally. He now channels that competitive drive to scale The Farmer’s Cow® into a nationally recognized, mission-led brand delivering economic resilience for small farms and lasting impact on local agriculture.

Steven M Ayer
Chairman of the Board of Directors and Principal Accounting Officer

Ayer is a Managing Director and Partner at Strata Wealth Partners with Hightower Advisors, bringing over 24 years (and counting) of deep expertise in financial services. A Certified Investment Management Analyst (CIMA®) from IMCA and Accredited Investment Fiduciary (AIF®) from the Center for Fiduciary Studies, he excels in portfolio construction, alternative investments (private equity & hedge funds), risk analysis, financial planning, business consulting, and global macro analysis—with more than 15,000 hours of dedicated research across these fields. His proven track record in wealth management and strategic insight strengthens FC Development Corp.'s leadership as we scale The Farmer’s Cow® ecosystem nationwide.

Steven Ayer
Chairman of the Board and Principal Accounting officer
James Smith
Director

Smith owns and operates Cushman Farms, a multi-generational family dairy in Franklin/Lebanon, Connecticut (est. 1936), spanning over 3,120 acres. A key member of The Farmer’s Cow® cooperative since 2003, he serves as Chairman and has been a strong advocate for Connecticut dairy farmers. Smith is advancing sustainable innovation, while supporting precision-ag initiatives through co-founding Almanax (drone-based farming tech). His leadership emphasizes family-farm viability, environmental stewardship, and community resilience—directly fueling The Farmer’s Cow®'s mission to strengthen local agriculture through clean energy and premium products.

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

Not requiredFewer than 300 holders of record

Filed 1 of 5 annual reports (FY2021–FY2025)

132 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-UMay 18, 20260001848227-26-000006
    EDGAR
  • Form CApr 8, 20260001848227-26-000004
    EDGAR
  • Form D/AFeb 24, 20250001848227-25-000001
    EDGAR
  • Form C-ARDec 31, 20240001848227-24-000004
    EDGAR
  • Form DMay 13, 20220001848227-22-000003
    EDGAR
  • Form C/AJul 15, 20210001670254-21-000826
    EDGAR
  • Form CMay 25, 20210001670254-21-000706
    EDGAR
Source: ManualCIK 0001848227DEShare price $2.84

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.