Hoppy New Year ~
Wow, hard to believe we've been sending these updates out for almost a year. Seems like only yesterday we were drafting the first one talking about building our pilot system, and now here we are! HUGE THANKS goes out to all of you that have helped make this happen. From all the county, state and federal licensing, to ordering and putting the deposit our equipment, we've got a lot done... But we've still got some major hurdles to overcome.
First and foremost we're working on an equity offering to raise the extra capitol we need to build this brewery. As you know we ended up getting an ideal location for an awesome production brewery, and committed to purchasing a brewing system that's large enough to scale for our future brewing needs. Suffices to say this is larger than we had originally planned, and it's going to cost a little more than we had originally budgeted and saved. This is why we went so big on our JLBKickstarter (by the way we've collected over $16k of the $21k that was pledged, and have commitment of payment for an additional $4k!). We had also planned on locking down some major SBA loans, but we didn't account for the fact a couple downhill bikes, a butt load of snowboards, and a Subaru WRX don't qualify as collateral B-)
During the JLBKickstarter campaign we had a number of individuals approach us regarding equity investment. After meeting many of these people and explaining our vision, we decided making an equity offer may actually be a really good thing. First off we would achieve the funding required to make JLB a reality, but more than that we would get additional people involved in the decision making process that bring significant experience and connections to the table.
So we're working with a securities attorney and a CPA specializing in craft breweries to put together a Private Placement Memorandum (PPM) for release at the end of January. We're still determining a fair share price with the CPA and attorney, but if you're interested in investing in June Lake Brewing for a piece of the company please contact Justin (firstname.lastname@example.org), or Sarah (email@example.com) and we'll get you all of the pertinent information when it's available later this month.
Until Then Cheers!