CaliFortunes is an Oakland, California based producer of plant-based edibles and original producer of CBD-infused vegan fortune cookies. Our vision is to become the largest supplier of plant-based infused edibles and take their consumption mainstream through nostalgia, joy and purpose.
We are seeking investors now to finish the second half of the new manufacturing facility renovation, hire operations personnel, build inventory and launch an aggressive marketing campaign.
We plan to expand into new regional markets, adding manufacturing facilities or entering co-packing agreements every 12-18 months, upgrading our equipment for higher capacities and expanding our product line, which includes protein bars and hard candy.
Through fun and creative branding, humor, and entertaining unique products, we aim to become a well-known edibles lifestyle brand that will help to promote its safe recreational and medicinal usage in a variety of scenarios and at large events and parties.
Hemp, where CBD comes from, has now become mainstream, yet there remains a lack of high-quality certified plant-based edible products for the many who desire them. We have responded to this demand with our main product, a delicious fortune cookie made with high-quality vegan ingredients.
Three flavors are currently available: vanilla, ginger and chai with the options of 20 & 50 mg CBD as well as both infused/non-infused. We have ambitious plans to expand our product line with several similarly fun and enticing edible products.
The edibles industry shows no signs of slowing down in the near future. In 2025, it is anticipated that legal market sales will exceed $23 billion in the United States alone. The infused edibles market will represent $4.1 billion by 2022.
On top of this trend, plant-based foods as a trend are soaring due to increased environmental and health consciousness. The plant-based foods market was valued at $4.5 billion in 2019 with 31 percent growth from April 2017 to April 2019. There has been a 600% increase in veganism in the past 3 years.
Our home market of California represents a significant percentage of that revenue, yet we aim to expand into several other regional markets to become the top provider of plant-based edibles.
To expand into the next group of regional markets, our cost will be approximately $500,000 with the goal of profitability within 3-4 months.
With sufficient investment capital, we anticipate $5M revenue by the end of FY2020, $8M revenue in FY2021, $19M revenue in FY2022, $32M revenue in FY2023, and $43M revenue in FY2024 based on current demand and expansion plans.
Investors now have an unique opportunity to acquire stock in our early stage company at the lowest price it will ever be offered in order to achieve the highest possible return in the future once we encounter a number of different potential scenarios including an acquisition, IPO or the provision of dividends to shareholders.
Our team includes several experienced entrepreneurs and salespeople, food and beverage quality management and marketing, and industry veterans to ensure that our expansion vision is fulfilled in the most efficient manner and that our company continues its early stage success to further gain momentum and benefit from the cultural shift toward infused edible consumption.
- Daniel Panitz, founder and CEO of Abi Snacks, Inc. dba CaliFortunes
Product surveys are conducted in San Francisco, CA throughout the month of October 2017.October, 2017
First sale to retail brick and mortar - The Green Door in San Francisco, CA.December, 2017
The lease on the new manufacturing facility is signed. Located within the Edgewater Plaza cannabis campus on the Port of Oakland.April, 2018
Secured specialized and essential manufacturing equipment.April, 2018
Building Plans are finally approved by the City of Oakland and Alameda County Health Department.July, 2019
After almost an entire year of R&D and trial shipments, our CBD-infused fortune cookie is finally ready to enter the mass market.November, 2019
Online sales begin via the company website.November, 2019