Jibe Cycling Studio, LLC
Regulation Crowdfunding offering on Honeycomb Credit · Form C filed March 3, 2026 · Portland, Maine
Jibe Cycling Studio, LLC, a Maine limited liability company doing business as Jibe Cycling, operates multi-location boutique indoor cycling and mat strength studios in Maine and South Carolina, founded in 2018 with a digital on-demand class offering. The company is operating and has existing debt of about $1.53 million; it is offering subordinated secured notes with a target of $50,000 and a maximum of $100,000.
Profile details below were extracted automatically from the issuer's filing documents. Figures in the financial table come directly from the SEC's structured Form C data.
Offering terms
- Security
- Debt
- Maximum
- $100,000.00
- Price
- $1.00 per unit
- Pricing method
- Pro-rated portion of the total principal
- Deadline
- April 10, 2026
- Oversubscriptions
- Accepted, first-come, first-served basis
- Intermediary
- Honeycomb Portal LLC
Funding portal, SEC file 007-00119 - Intermediary fee
- 8.5% of the total offering amount upon a successful raise. Platform Fee corresponding to selected level of service. 3% investment fee capped at $50. Credit Card: 4.5%, capped at $1,000. Honeycomb Wallet: 0%; Hybrid (HW + ACH): 2%, capped at $30
- Intermediary equity
- None
Financials as filed
| Item | Most recent FY | Prior FY |
|---|---|---|
| Revenue | $1,210,157 | $1,236,895 |
| Cost of goods sold | $47,193 | $59,512 |
| Net income (loss) | $244,209 | $39,703 |
| Total assets | $401,572 | $417,099 |
| Cash and equivalents | $19,656 | $40,901 |
| Accounts receivable | $0 | $0 |
| Short-term debt | $256,075 | $390,168 |
| Long-term debt | $1,651,833 | $1,690,123 |
| Taxes paid | $0 | $0 |
Two fiscal years as reported on the Form C cover sheet. 25 employees. Offered in 64 states.
Use of proceeds
Target $50,000 and maximum $100,000 in total proceeds. At the target, intermediary fee is $4,250 and admin fee $40, leaving net proceeds of $45,710. At the maximum, intermediary fee is $8,500 and admin fee $40, leaving net proceeds of $91,460. Stated uses in descending priority: bikes for Portland $50,000; moving from Free Street to Hanover Street $25,000; Yarmouth basement conversion for Tack $25,000; total $100,000.
Valuation
Notes are priced at 1.00000 per security at face amount. Note terms were determined by the owner based on the owner's opinion of the value of the project. No pre-money valuation stated.
Prior raises
Not stated
Financial statements
Financial information is certified by the principal executive officer (Joanna Witherill) rather than reviewed by an independent public accountant. Balance sheet and income statement shown for 2024, 2025 and 2026 (as of 1/30/2026).