Company: VTBAS
Filing Date: 2025-09-29
Form Type: 1-SA
Source: 0001493152-25-016012
Chunk: 15

Company: Vestible Assets, LLC
Filing Date: 2025-09-29
Form: 1-SA
Chunk 15
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 is unobservable.

The carrying amounts reported in the consolidated and consolidating balance sheets approximate their fair value.

Investment in Baron Browning (Future Earnings Contract)

During 2024, Series BDBR capitalized $525,384 related to the acquisition of a future earnings contract under the Brand Agreement with Baron Browning (“Browning”). Under the Brand Agreement, the Company agreed to pay Browning 80% ($525,384) of the gross offering proceeds in exchange for 1% of Browning’s gross sports income as a professional football player in the NFL (excluding any earnings associated with endorsements and name, image, and likeness). The term of the agreement is until the earlier of the Browning’s retirement or when he has not been on the roster of an NFL team for 24 consecutive weeks.

This amount represents upfront payments made in exchange for rights to a portion of the future earnings. Future earnings contracts are capitalized based on the respective costs to acquire such rights. The amounts will be amortized over their useful life, which is the term of the underlying earning contract beginning when the contracts become effective. The Company estimates a seven season term for the Browning Brand Agreement and therefore amortized $37,528 of the Brand Agreement for the six-month period ended June 30, 2025.

<div align='center'>No assurance is provided.</div>

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VESTIBLE ASSETS, LLC AND ITS SERIES

NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS

As of June 30, 2025 (Unaudited) and December 31, 2024 and for the six-month periods ended June 30, 2025 and 2024 (Unaudited)

The future earnings contract at original cost of $525,384 is presented net of accumulated amortization of $112,583 and $75,055 as of June 30, 2025 and December 31, 2024, respectively, for a net carrying amount of $412,801 and $450,329 as of June 30, 2025 and December 31, 2024, respectively.

The Company assessed the Brand Agreement for impairment as of June 30, 2025 and December 31, 2024, and determined no impairment charge is necessary.

Impairment of Long-lived Assets

The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, and