LMCC’s strength translates into high quality product, because LMCC uses the finest natural ingredients. LMCC can easily expand its main facility to include a certified Gluten Free manufacturing plant. LMCC notes that current GF cheesecakes retail at over $70, while LMCC’s comparable product will retail for approximately $39.99. Nevertheless, the margins for the direct to consumer sales are much higher than wholesale.
LMCC seeks expressions of interest for an offering of class B shares at $8.00 each, with a minimum “break escrow” of $1 million and a maximum of $6 million. A dividend of 4% (32 cents per share) will be paid by LMCC. If the minimum is raised, LMCC will expand its plant in Florida, and projects EBITDA of $3.15 million in 2016 and $6.08 million in 2017.
Investors may express interest only at this time, and the expression of interest is non-binding (see disclaimer on the bottom of each page.)
LMCC welcomes inquiries and questions. The answers to all questions will be posted on LMCC’s site so that everyone may see the same information before determining whether on not to express interest. Email to: email@example.com
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Pursuant to 17 CFR 230.255, this document is a “Solicitation of interest” in securities which may be offered under Regulation A+. (1) No money or other consideration is being solicited, and if sent in response, will not be accepted; (2) No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is qualified, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date; (3) A person’s indication of interest involves no obligation or commitment of any kind.
EXECUTIVE SUMMARY OF PROPOSED OFFERING
Lake Mary Cheesecake Co. Inc., (LMCC) is a wholesale bakery specializing in small batch, artisan, Bain Marie New York style cheesecakes. The company has been operating for 16 years, with its main facility in the Orlando, Florida area, and a smaller facility in Riverside, California.
For the past 3 years, gross sales have averaged $3.5 million and LMCC is profitable. The firm is debt free. LMCC’s main customers are theme parks, hotels, cruise lines and grocers. LMCC was one of the pioneers in no gluten added desserts and sells “no gluten added” cheesecakes to its wholesale customers. Article on LMCC from 2006 from the Orlando Sentinel.
LMCC is operating near its capacity and is raising capital primarily to expand its main facility to add a new, separate section that will be certified as “Gluten Free” and the certified “Gluten Free” product will primarily be sold direct to consumer. LMCC has previously chosen not to enter this market because delivery of frozen cakes direct to consumer often resulted in damaged product being received by the customer. LMCC has invented a new pan and shipper that will better protect the product. Internet shopping services, like Amazon, have improved their logistical capability making direct shipping to consumers reliable. The pan is reusable by customers.
Depending upon the amount raised, LMCC will expand at a different rate.
LMCC’s strength is in operations. LMCC’s main facility holds HACCP (Hazard Analysis & Critical Control Points) certification. HACCP is a management system in which food safety is addressed through the analysis and control of biological, chemical, and physical hazards from raw material production, procurement and handling, to manufacturing, distribution and consumption of the finished product. It also has Kosher foods certification, and complies with the proposed FDA rules under the Food Safety Modernization Act.