Company: VTBAS
Filing Date: 2025-09-29
Form Type: 1-SA
Source: 0001493152-25-016012
Chunk: 3

Company: Vestible Assets, LLC
Filing Date: 2025-09-29
Form: 1-SA
Chunk 3
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 us and the investors.

The Operating Agreement further provides that the Manager will be entitled to consider only such interests and factors as it desires, including its own interests, and will have no duty or obligation (fiduciary or otherwise) to give any consideration to any interest of or factors affecting the Company, any Series or any of the interest holders and will not be subject to any different standards imposed by the Operating Agreement, the Delaware Limited Liability Company Act or under any other law, rule or regulation or in equity. In addition, the Operating Agreement provides that the Manager will not have any duty (including any fiduciary duty) to the Company, any Series or any of the interest holders in a particular Series.

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Results of Operations

The Company was formed on July 20, 2022. Since it’s organization, the Company has been engaged primarily in structuring and preparing to acquire future income streams of professional athletes pursuant to Brand Agreements as well as identifying and negotiating with potential athletes.

As of June 30, 2025, Series BDBR holds a single asset—the Brand Agreement with Baron Browning which was entered into by the Manager on May 10, 2023. Under the Brand Agreement, Series BDBR has the right to receive any Brand Amounts earned by Baron Browning.

Revenues

Revenues are generated at the Series level. For the six-month periods ended June 30, 2025 and 2024, Series BDBR had generated revenues amounting to $23,212 and $0, respectively. On September 4, 2024, we closed the offering with respect to Series BDBR interests. As such, Series BDBR began generating revenues during the third quarter of 2024, as Brand Amounts began to be paid to Series BDBR pursuant to the Brand Agreement with Baron Browning.

Operating and Total Expenses

All fees and expenses incurred prior to the closing of an offering related to any series are being paid by our Manager and are to be reimbursed by such Series out of the offering proceeds upon closing of the relevant Series offering. Such operating expenses include (i) the formation of the Series, (ii) acquiring the Brand Agreement with the applicable athlete and (iii) offering the Series interests, including legal fees and other professional fees.

For the six-month period ended June 30, 2025, the Company had total consolidated operating expenses of $72,787, $43,676 of which such expenses were allocated to Series BDB