US - Pacific The Official Modern Times League Of Partygoers & Elegant People Thread

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Do you like burritos?

  • Yes but I'm anti adjuncts

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Joined
Mar 13, 2014
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4,228
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Newbury Park CA
Because it's not that good? "Ducks"
It's okay to be wrong, no judgement here.
Took a new job recently, and literally just took two unpaid sick days. This coupled with the fact that I'm trying to buy less beer (and failing) makes it a pretty easy call.
Yeah i've been really good about limiting myself to only 2 of any given "thing" but went full no fucks given and bought a case of abaddon. It was my favorite non stout release last year.
 
Joined
Aug 21, 2013
Messages
111
Location
Denver, CO
So this email....

Can we get a bit of clarification on what the breakdown per share is ModernTimesSteven? How many shares are available? I have many questions.
Its $253/share essentially, but I would need to dig a little more as to how small a fraction that would be of overall equity. They are essentially valued at $264M, so you would have to assume they would be worth more that that in the future to pay that price now.
 
Joined
Jul 12, 2016
Messages
1,088
Location
California
Anyone inclined to copy and paste the email? Or share the wefunder link? Is the employee ownership transition not going well? Is this an attempt at getting it back on track?
 
Joined
Feb 19, 2015
Messages
3,185
Location
San Diego
Anyone inclined to copy and paste the email? Or share the wefunder link? Is the employee ownership transition not going well? Is this an attempt at getting it back on track?

We are tremendously proud of what we've built at Modern Times over the last six years. We've become a multi-state juggernaut in our industry, with production north of 68,000 barrels in 2018—over 800% of what we’d initially projected to produce in our 5th year, which is, to use a technical term, bonkers. In short, we've reached a scale that requires a new approach, and—rather than involve traditional private equity or other large investors—we’re choosing to give our fans a chance to invest in the company that they’ve done so much to help build.

We're super excited about crowd equity, for a couple reasons. Firstly, we can't think of a better long-term, sustainable business model than a brewery owned by its employees and fans, both of whom already play critical roles in shaping our beer, coffee, and company culture. Giving our fans—who already champion the brewery, frequent its establishments, and cheerlead its efforts—a chance to share in the potential upside of the company’s success seems like both a rad thing to do and a chance to have the most pro-active, engaged investor group on the planet.

Given our current structure, it’s also important to note that this new equity raise will actually accelerate our progress toward an increased percentage of employee-ownership. We anticipate that the added capital and anticipated growth from the use of capital that will allow us to advance the timeline of buying back shares for our employee-owners, while simultaneously growing the company. We also project that it will make our beer, coffee, and food more delicious, more available, and allow us to unleash the full potential of our visual magicians in creating some eye-poppingly luxurious environments in which to serve them. In short: This isn’t even our final form.

As a first step in this project, we're going to be launching what's called a Regulation CF Raise on the WeFunder platform, potentially followed by a more substantial capital raise later this year. We can only accept up to $1,070,00 under Regulation CF, but we may accept additional funds under other securities law exemptions related to accredited investors. You can reserve shares starting right now, but the campaign goes live at 5pm PST/8pm EST on 4/22/19 on our WeFunder page. We are immensely excited for this next step, and hope that our fans and friends will join us on the next leg of this already-epic adventure.

If you have any questions, our Founder/CEO Jacob Mckean will be doing an AMA on the League Facebook page today at 2pm.

That's it for now. We're beyond stoked to be a part of this new crowd-funded environment soon, and can’t wait to see where it takes us. This shit is going to be wild.

The Link: https://wefunder.com/moderntimesbeer?mc_cid=c0b0e22db3&mc_eid=14aaeb1d3e
 
Joined
Sep 29, 2013
Messages
6,387
Location
Champaign, IL
Anyone inclined to copy and paste the email? Or share the wefunder link? Is the employee ownership transition not going well? Is this an attempt at getting it back on track?
Sounds like they just want more capital to continue to expand, but don't want to get in the pockets of big beer, etc. Taking smaller investments from people like us is more akin to the employee-owned mantra that they already have.
 
Joined
Oct 6, 2013
Messages
4,809
Location
San Diego, California
Sounds like they just want more capital to continue to expand, but don't want to get in the pockets of big beer, etc. Taking smaller investments from people like us is more akin to the employee-owned mantra that they already have.
I'm guessing that expansion they are working on right now is costly. Wasn't there a shady hotel/apartments there that got demolished?
 
Joined
Sep 30, 2013
Messages
2,319
We are tremendously proud of what we've built at Modern Times over the last six years. We've become a multi-state juggernaut in our industry, with production north of 68,000 barrels in 2018—over 800% of what we’d initially projected to produce in our 5th year, which is, to use a technical term, bonkers. In short, we've reached a scale that requires a new approach, and—rather than involve traditional private equity or other large investors—we’re choosing to give our fans a chance to invest in the company that they’ve done so much to help build.

We're super excited about crowd equity, for a couple reasons. Firstly, we can't think of a better long-term, sustainable business model than a brewery owned by its employees and fans, both of whom already play critical roles in shaping our beer, coffee, and company culture. Giving our fans—who already champion the brewery, frequent its establishments, and cheerlead its efforts—a chance to share in the potential upside of the company’s success seems like both a rad thing to do and a chance to have the most pro-active, engaged investor group on the planet.

Given our current structure, it’s also important to note that this new equity raise will actually accelerate our progress toward an increased percentage of employee-ownership. We anticipate that the added capital and anticipated growth from the use of capital that will allow us to advance the timeline of buying back shares for our employee-owners, while simultaneously growing the company. We also project that it will make our beer, coffee, and food more delicious, more available, and allow us to unleash the full potential of our visual magicians in creating some eye-poppingly luxurious environments in which to serve them. In short: This isn’t even our final form.

As a first step in this project, we're going to be launching what's called a Regulation CF Raise on the WeFunder platform, potentially followed by a more substantial capital raise later this year. We can only accept up to $1,070,00 under Regulation CF, but we may accept additional funds under other securities law exemptions related to accredited investors. You can reserve shares starting right now, but the campaign goes live at 5pm PST/8pm EST on 4/22/19 on our WeFunder page. We are immensely excited for this next step, and hope that our fans and friends will join us on the next leg of this already-epic adventure.

If you have any questions, our Founder/CEO Jacob Mckean will be doing an AMA on the League Facebook page today at 2pm.

That's it for now. We're beyond stoked to be a part of this new crowd-funded environment soon, and can’t wait to see where it takes us. This shit is going to be wild.

The Link: https://wefunder.com/moderntimesbeer?mc_cid=c0b0e22db3&mc_eid=14aaeb1d3e
Surprised they didn't just link directly to Equity for Punks
 
Joined
Aug 11, 2015
Messages
303
I read that entire thing. I have absolutely no idea what any of it means.
Basically that you're giving them money with no promise of any kind of return. You'll get no dividends and there's no market to sell your shares. They're not regulated by the rules and agencies that regulate stocks, and you are totally putting your faith into them giving you some kind of return even though it's not promised or in any way suggested how it could conceivably happen. Also, they just borrowed $17 million from two banks but need more.

I like MT a lot, think they'll probably continue to be successful, have some money to invest and wouldn't mind investing in the right brewery with the right terms, but this seems like a cockstaggering leap of faith.
 
Joined
Mar 13, 2014
Messages
4,228
Location
Newbury Park CA
Basically that you're giving them money with no promise of any kind of return. You'll get no dividends and there's no market to sell your shares. They're not regulated by the rules and agencies that regulate stocks, and you are totally putting your faith into them giving you some kind of return even though it's not promised or in any way suggested how it could conceivably happen. Also, they just borrowed $17 million from two banks but need more.

I like MT a lot, think they'll probably continue to be successful, have some money to invest and wouldn't mind investing in the right brewery with the right terms, but this seems like a cockstaggering leap of faith.
I came to the exact same conclusion. It's a great way for them to build in brand loyalty while getting paid to do it.
 
Joined
May 19, 2016
Messages
2,058
Location
Mill Valley, CA
Basically that you're giving them money with no promise of any kind of return. You'll get no dividends and there's no market to sell your shares. They're not regulated by the rules and agencies that regulate stocks, and you are totally putting your faith into them giving you some kind of return even though it's not promised or in any way suggested how it could conceivably happen. Also, they just borrowed $17 million from two banks but need more.

I like MT a lot, think they'll probably continue to be successful, have some money to invest and wouldn't mind investing in the right brewery with the right terms, but this seems like a cockstaggering leap of faith.
In the same week (day?) as the Ballast Point news, too. I just don't think becoming a national brand is realistic for most breweries. Maybe they're just trying to open a few more pubs and expand to a few more states, but I wouldn't be surprised if national is the ultimate goal. I hope they stay open because I like their beers, but I also hope they don't blow their wad here and end up really regretting it in a few years.
 

Xul

Joined
Jun 18, 2014
Messages
1,496
Location
San Diego, CA
In the same week (day?) as the Ballast Point news, too. I just don't think becoming a national brand is realistic for most breweries. Maybe they're just trying to open a few more pubs and expand to a few more states, but I wouldn't be surprised if national is the ultimate goal. I hope they stay open because I like their beers, but I also hope they don't blow their wad here and end up really regretting it in a few years.
Directly from the WeFunder page:
Is geographic expansion part of your future plans?

I think we have a lot of headroom left in the states we’re in. There are segments of the business-to-business world that we haven't even started to hit, like C-stores (convenience stores.) It’s not the sexiest business, but it's high volume. We intend to enter Colorado at some point in the not too distant future, though. It's the most obvious state for us in a lot of ways that we have yet to tackle.

At this point, we really have no ambition of being a 50-state brand. I don't think that model is working as well as it used to. But both from a wholesale and a retail standpoint, I think we really see ourselves as focusing on Western states for now. California, Oregon, Washington, Arizona, Utah, Nevada, Hawaii and Idaho.
 
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