Production, Adoption, and Promotion
Our Signature Cocktails
Marketing Materials in Africa
3 Years of Year-Over-Year Growth in West Africa

1 | Silver Medalist: 2015 SF World Spirits Competition |
2 | United States federal sales approval (COLA) |
3 | Consistent growth in local markets over past 3 yrs |
4 | Contracted American importer and brand representative in place |
See more on Buzz
Our cash in hand is $1,482, as of December 2017. Over the three months prior, revenues averaged $2,712.22/month, cost of goods sold has averaged $1,131.83/month, and operational expenses have averaged $12,014.61/month.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
Overview
Our distillery has elevated sodabi, the traditional palm liquor of West Africa, from a cottage industry into a world-class spirit that retains the character and essence of its native roots. We work with local farmers to secure consistent, quality raw materials to produce refined palm liquor using industry-standard equipment and practices. After distillation, we infuse it with 14 ingredients to create a unique, aromatic, and complex flavor profile that results in a premium, award-winning spirit.
We first launched TAMBOUR ORIGINAL in sodabi's native region, with our production facility in the cosmopolitan heart of Benin, and over the past 3 years sales have grown in the region. We are now in the process of unveiling TAMBOUR ORIGINAL in the US and we hope to explore additional markets in the future. We believe that TAMBOUR ORIGINAL has a place in bars and stores alongside mezcal, soju, and other exotic liquors recently popularized in global markets just as it holds a place in the culture of Benin.
Milestones
VooDoo Spirits, Inc. was incorporated in the State of Delaware in July 2012.
Since then, we have:
Historical Results of Operations
Related Party Transaction
Refer to Question 26 of this Form C for disclosure of all related party transactions.
Liquidity & Capital Resources
To-date, the company has been financed with $9,469 in debt and $286,022 in convertibles.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
VooDoo Spirits, Inc. cash in hand is $1,482, as of December 2017. Over the last three months, revenues have averaged $2,712.22/month, cost of goods sold has averaged $1,131.83/month, and operational expenses have averaged $12,014.61/month, for an average burn rate of $10,434.22 per month. Our intent is to be profitable in 12 months.
We are in the process of changing distributors and thus there haven't been new sales since the start of the year.
As we bring on two new distributors for 3 markets (DC, MD, and NY) we should see sales greatly pick up again.
1 | Given that we are crossing borders between our production and sales locations, there are geopolitical risks. We can mitigate these by paying for insurance, and keeping abreast of policy changes in Benin through our network, including contacts at the US Embassy in Benin. |
2 | Due to production in an underdeveloped country, there can be delays for any repairs to the equipment if spare parts are not readily available locally. However, we buy equipment that rarely needs extensive repairs and maintenance and we stock spare parts appropriately. |
3 | Raw material quality can vary due to seasonality, precipitation, and plant disease, but we mitigate this by spreading out our raw material supply to at least three suppliers. |
4 | A lower than expected rate of acceptance could slow our growth or stress our cash flow. Trying to sell the product in multiple locations with tailored marketing will mitigate this. |
5 | Other global liquor companies could recognize the potential of this type of palm spirit and try to replicate it. Being the first mover will give us an advantage and the increased competition would help validate the category. |
6 | Due to fewer routes to specific US ports, shipping from Africa can add extra costs for certain markets. |
7 | We will need to sign distribution agreements in all of the markets (each US State) that we want to sell in and not being able to come to an acceptable agreement in key markets could affect sales and profitability. |
8 | If we do not raise enough capital through a combination of this campaign and other equity and debt raises, we could have cash flow issues. |
Director | Occupation | Joined |
---|---|---|
Jacob Muhleman | President @ VooDoo Spirits Inc. | 2012 |
Fred Muhleman | Consultant @ Expense Reduction Analysts (ERA) | 2018 |
Victor Sinow | Principal Designer @ Navitas Semiconductor | 2018 |
Officer | Title | Joined |
---|---|---|
Jacob Muhleman | President, CEO | 2012 |
Eric Newton | Chief Marketing Officer (CMO) | 2012 |
Holder | Securities Held | Voting Power |
---|---|---|
Jacob Muhleman | 2,535,113 Common Stock | 72.0% |
Date | Amount | Security |
---|---|---|
12/2016 | $475 | Loan |
06/2017 | $8,000 | Loan |
11/2017 | $84,312 | SAFE |
05/2016 | $237,790 | Convertible Note |
Issued | Amount | Interest | Discount | Valuation Cap | Maturity |
---|---|---|---|---|---|
05/27/2016 | $237,790 | None | |||
11/20/2017 | $84,312 | 5.0% | 20.0% | None | 11/20/2019 |
Lender | Issued | Amount | Oustanding | Interest | Maturity | Current? |
---|---|---|---|---|---|---|
Kassandra Klaritsch | 12/31/2016 | $475 | $475 | 0.0% | ||
Serena Cheung | 06/11/2017 | $8,000 | $8,000 | 0.0% |
Name | Eric Newton |
Amount Invested | $640 |
Transaction type | Loan |
Issued | 12/30/2017 |
Outstanding principal plus interest | $640 as of 04/2018 |
Interest | 0.0 per annum |
Relationship | Officer |
Name | Beth Muhleman |
Amount Invested | $250 |
Transaction type | Loan |
Issued | 09/18/2016 |
Outstanding principal plus interest | $250 as of 04/2018 |
Interest | 0.0 per annum |
Relationship | Mother of Director |
Name | Jacob Muhleman |
Amount Invested | $12,284 |
Transaction type | Loan |
Issued | 12/28/2017 |
Outstanding principal plus interest | $12,284 as of 04/2018 |
Interest | 0.0 per annum |
Relationship | Director |
Temporary loan to aid the cash flow of the company. | |
Name | Victor Sinow |
Amount Invested | $5,000 |
Transaction type | Loan |
Issued | 08/10/2017 |
Outstanding principal plus interest | $5,000 as of 04/2018 |
Interest | 0.0 per annum |
Maturity | 08/09/2018 |
Relationship | Director |
Name | Fred Muhleman |
Amount Invested | $100 |
Transaction type | Loan |
Issued | 06/15/2016 |
Outstanding principal plus interest | $100 as of 04/2018 |
Interest | 0.0 per annum |
Relationship | Director |
$20,000 | This would allow us to rent a larger facility. More space will allow us to increase our efficiencies in production and add additional equipment. |
$50,000 | This would allow us to buy an increased capacity still. |
$100,000 | This is our ideal raise. This would allow us to enlarge our facility with an increased capacity still. This is will allow us to approximately double our current production. |
Class of Security | Securities (or Amount) Authorized |
Securities (or Amount) Outstanding |
Voting Rights |
---|---|---|---|
Debt Securities | 0 | 0 | No |
Common | 5,000,000 | 3,501,940 | Yes |
The Securities and Exchange Commission hosts the official Form C on their EDGAR web site.
Privacy: We won’t share your data, or post to your wall, without your permission.
Already have a Wefunder account? Login
Don't have a Wefunder account? Signup
Tell us the email you used to sign up, and we'll get you on your way.
Ask a Question