# EDGAR Filing Document

**Accession Number:** 0001970241
**File Stem:** 0001970241-23-000001
**Filing Date:** 2023-3
**Character Count:** 24800
**Document Hash:** 3223b2c1794ed7e726c016c28d68a642
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001970241-23-000001.hdr.sgml**: 20230323

**ACCESSION NUMBER**: 0001970241-23-000001

**CONFORMED SUBMISSION TYPE**: C

**PUBLIC DOCUMENT COUNT**: 6

**FILED AS OF DATE**: 20230323

**DATE AS OF CHANGE**: 20230322

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Young Kobras LLC
- **CENTRAL INDEX KEY:** 0001970241
- **IRS NUMBER:** 841797883
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** C
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-32034
- **FILM NUMBER:** 23754012

**BUSINESS ADDRESS:**
- **STREET 1:** 940 COMMERCIAL ST
- **STREET 2:** STE D
- **CITY:** SAN CARLOS
- **STATE:** CA
- **ZIP:** 94070
- **BUSINESS PHONE:** 8054533501

**MAIL ADDRESS:**
- **STREET 1:** 940 COMMERCIAL ST
- **STREET 2:** STE D
- **CITY:** SAN CARLOS
- **STATE:** CA
- **ZIP:** 94070

### Attached PDF Documents

**Attachment 1:** `formcygkb.pdf`

DocuSign Envelope ID: 4A5D0447-3ED3-471A-898F-D82E66195CEA

# FINANCIAL CONDITION OF THE ISSUER

### 1. Does the issuer have an operating history?

☑ Yes

### 2. Describe the financial condition of the issuer, including, to the extent material, liquidity, capital resources and historical results of operations.

NOTE: The discussion must cover each year for which financial statements are provided. Include a discussion of any known material changes or trends in the financial condition and results of operations of the issuer during any time period subsequent to the period for which financial statements are provided.

For issuers with no prior operating history, the discussion should focus on financial milestones and operational, liquidity and other challenges.

For issuers with an operating history, the discussion should focus on whether historical results and cash flows are representative of what investors should expect in the future.

Take into account the proceeds of the offering and any other known or pending sources of capital. Discuss how the proceeds from the offering will affect liquidity, whether receiving these funds and any other additional funds is necessary to the viability of the business, and how quickly the issuer anticipates using its available cash. Describe the other available sources of capital to the business, such as lines of credit or required contributions by shareholders.

These instructions refer to the issuer and its predecessors, if any.

## Management's Discussion and Analysis of Financial Condition and Results of Operations

You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the plans for our expansion involve risks and uncertainties. You should review the 'Risk Factors' section for a discussion of important factors that could cause actual results to our ability to service our debt.

### Overview

The Company's fiscal year-end is December 31.

**Young Kobras LLC** (NAICS 311812) originated from home kitchen experiments and a determination to develop a new type of bread made with simple healthy ingredients, and that's it. Slowly and naturally fermented bread with no gums, no dairy, no eggs, no sugar, and only organic ingredients.

**Young Kobras LLC** began operations in May 2020. For FY22, the Company generated $852,139 in revenue and $85,629 of net income. During FY21 the Company generated $575,315 in revenue and -$63,616 of net income. These financial results are historical and not representative of what investors should expect in the future.

### Milestones

**Young Kobras LLC** is all about helping people with all different types of dietary needs enjoy delicious bread and feel good after they eat it. Americans are estimated to spend $5.6 billion on gluten-free products (2021) and 20% of Americans currently buy gluten-free products regularly. Young Kobras has industry-leading products and sustainable packaging. Currently Young Kobras is stocked at 62 different grocery stores in California, The Naked Grocer in Seattle, WA, Marquette Food Co-op in WI, Bread & Butter in TN, Riverdel Vegan Cheese Shop in NYC, Betterworld in NJ, and Green Nectar Juicery in PA.

### Historical Results of Operations

11

S M B

DocuSign Envelope ID: 4A5D0447-3ED3-471A-898F-D82E66195CEA

- Revenues and gross margin. During FY21 and FY22, the Company generated revenues of $575,315 and $852,139, respectively, while gross margins were 56% and 80%, respectively. This change reflected the impact of the pandemic, which drove improvement in demand for most of the Company's products and services.
- Net income. For FY21 and FY22, the business generated earnings of -$63,616 and $85,629, respectively, as the improvement in overall revenue was matched with an improvement in operating expenses.
- Assets. Total assets changed from $96,728 at year-end FY21 to $94,600 at year-end FY22, which was comprised primarily of cash and receivables.
- Debt. Total debt was $140,273 at year-end FY21 and $89,516 at year-end FY22, which consisted of -$484 in short-term debt and $90,000 in long-term debt.

The Company's ability to be operational is not dependent on reaching its maximum funding target. If the offering is not successful, Young Kobras LLC will likely obtain other means of financing or deploy the capital as its cash flow allows, or it may do nothing as these funds are not required for daily operations. In the event the offering successfully reaches the maximum raise target, the Company will deploy 100% to the intended use of funds.

# Related Party Transactions

See Ownership and Capital Structure section.

# Liquidity & Capital Resources

Of the Company's total assets of $94,600 at the end of FY22, $94,600 were reported as current assets. This includes cash of $67,142 and accounts receivable of $27,458.

# FINANCIAL INFORMATION

Include financial statements covering the two most recently completed fiscal years or the period(s) since inception, if shorter:

Refer to Appendix, Financial Statements

NOTE: To determine the financial statements required, the Aggregate Offering Amount means the aggregate amounts offered and sold by the issuer, all entities controlled by or under common control with the issuer, and all predecessors of the issuer in reliance on Section 4(a)(6) of the Securities Act within the preceding 12-month period plus the current maximum offering amount provided in this Form C.

To determine whether the issuer has previously sold securities in reliance on Regulation Crowdfunding, "issuer" means the issuer, all entities controlled by or under common control with the issuer, and all predecessors of the issuer.

Financial statements must be prepared in accordance with U.S. generally accepted accounting principles and must include balance sheets, statements of comprehensive income, statements of cash flows, statements of changes in stockholders' equity and notes to the financial statements. If the financial statements are not audited, they shall be labeled as "unaudited."

Issuers offering securities and required to provide the information set forth below before filing a tax return for the most recently completed fiscal year may provide information from the tax return filed for the prior year (if any), provided that the issuer provides information from the tax return for the most recently completed fiscal year when it is filed, if filed during the offering period. An issuer that requested an extension of the time to file would not be required to provide information from the tax return until the date when the return is filed, if filed during the offering period.

# Aggregate Offering Amount: $124,000 or less

Financial Information Required:

The following information or their equivalent line items as reported on the federal income tax return filed by the issuer for the most recently completed year (if any):

- Total Income
- Taxable Income; and

12

SMB

DocuSign Envelope ID: 4A5D0447-3ED3-471A-898F-D82E66195CEA

• Total Tax;
1) certified by the principal executive officer of the issuer to reflect accurately the information reported on the issuer's federal income tax returns; and
2) Financial statements of the issuer and its predecessors, if any.

Financial Statement Requirements:

Financial statements must be certified by the principal executive officer of the issuer. If financial statements are available that have either been reviewed or audited by a public accountant that is independent of the issuer, the issuer must provide those financial statements instead along with a signed audit or review report and need not include the information reported on the federal income tax returns or certification of the principal executive officer.

**Aggregate Offering Amount: More than $124,000, but not more than $618,000**

Financial Information Required:

1) Financial statements of the issuer and its predecessors, if any.

Financial Statement Requirements:

Financial statements must be reviewed by a public accountant that is independent of the issuer and must include a signed review report. If financial statements of the issuer are available that have been audited by a public accountant that is independent of the issuer, the issuer must provide those financial statements instead along with a signed audit report and need not include the reviewed financial statements.

**Aggregate Offering Amount: More than $618,000**

Financial Information Required:

1) Financial statements of the issuer and its predecessors, if any.

Financial Statement Requirements:

If the issuer has previously sold securities in reliance on Regulation Crowdfunding, financial statements must be audited by a public accountant that is independent of the issuer and must include a signed audit report.

If the issuer has NOT previously sold securities in reliance on Regulation Crowdfunding and it is offering more than $618,000 but not more than $1,235,000, financial statements must be reviewed by a public accountant that is independent of the issuer and must include a signed review report.

If financial statements of the issuer are available that have been audited by a public accountant that is independent of the issuer, the issuer must provide those financial statements instead along with a signed audit report and need not include the reviewed financial statements.

A principal executive officer certifying financial statements must provide the following certification:

**I, Geoff Kober, certify that:**

1. The financial statements of Young Kobras LLC included in this Form are true and complete in all material respects;
and
2. The tax return information of Young Kobras LLC included in this Form reflects accurately the information reported on the tax return for Young Kobras LLC filed for the most recent fiscal year ended December 31.

13

SMB

DocuSign Envelope ID: 4A5D0447-3ED3-471A-898F-D82E66195CEA

DocuSigned by:
[Signature]
[Signature]

Managing Member

[Title]

3/22/2023

[Date]

** Intentional misstatements or omissions of facts constitute federal criminal violations. See 18 U.S.C. 1001.

An issuer will not be in compliance with the requirement to provide reviewed financial statement if the issuer received a review report that includes modifications. An issuer will not be in compliance with the requirement to provide audited financial statements if the issuer received a qualified opinion, an adverse opinion, or a disclaimer of opinion.

The issuer must notify the public accountant of the issuer's intended use of the public accountant's audit or review report in the offering.

For an offering conducted in the first 120 days of a fiscal year, the financial statements provided may be for the two fiscal years prior to the issuer's most recently completed fiscal year; however, financial statements for the two most recently completed fiscal years must be provided if they are otherwise available.

If more than 120 days have passed since the end of the issuer's most recently completed fiscal year, the financial statements provided must be for the issuer's two most recently completed fiscal years.

If the 120th day falls on a Saturday, Sunday, or holiday, the next business day shall be considered the 120th day for purposes of determining the age of the financial statements.

An issuer may elect to delay complying with any new or revised financial accounting standard until the date that a company that is not an issuer (as defined under section 2(a) of the Sarbanes-Oxley Act of 2002) is required to comply with such new or revised accounting standard, if such standard also applies to companies that are not issuers. Issuers electing such extension of time accommodation must disclose it at the time the issuer files its offering statement and apply the election to all standards. Issuers electing not to use this accommodation must forgo this accommodation for all financial accounting standards and may not elect to rely on this accommodation in any future filings.

### STAKEHOLDER ELIGIBILITY

If you would have answered "Yes" to any of the following questions had the conviction, order, judgment, decree, suspension, expulsion or bar occurred or been issued after May 16, 2016, then you are NOT eligible to rely on this exemption under Section 4(a)(6) of the Securities Act.

With respect to the issuer, any predecessor of the issuer, any affiliated issuer, any director, officer, general partner or managing member of the issuer, any beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, any promoter connected with the issuer in any capacity at the time of such sale, any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with such sale of securities, or any general partner, director, officer or managing member of any such solicitor, prior to May 16, 2016:

1. Has any such person been convicted, within 10 years (or five years, in the case of issuers, their predecessors and affiliated issuers) before the filing of this offering statement, of any felony or misdemeanor:

A. In connection with the purchase or sale of any security?

☐ Yes
☑ No

B. Involving the making of any false filing with the Commission?

☐ Yes

14

SMB

DocuSign Envelope ID: 4A5D0447-3ED3-471A-898F-D82E66195CEA

No

C. Arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities?

Yes  
No

If yes to any of the above, please explain: N/A

2. Is any such person subject to any order, judgment or decree of any court of competent jurisdiction, entered within five years before the filing of the information required by Section 4A(b) of the Securities Act that, at the time of filing of this offering statement, restrains or enjoins such person from engaging or continuing to engage in any conduct or practice:

A. In connection with the purchase or sale of any security?

Yes  
No

B. Involving the making of any false filing with the Commission?

Yes  
No

C. Arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities?

Yes  
No

If yes to any of the above, please explain: N/A

3. Is any such person subject to a final order of a state securities commission (or an agency or officer of a state performing like functions); a state authority that supervises or examines banks, savings associations or credit unions; a state insurance commission (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the U.S. Commodity Futures Trading Commission; or the National Credit Union Administration that:

A. At the time of the filing of this offering statement bars the person from:

i. Association with an entity regulated by such commission, authority, agency or officer?

Yes  
No

ii. Engaging in the business of securities, insurance or banking?

Yes  
No

iii. Engaging in savings association or credit union activities?

Yes  
No

B. Constitutes a final order based on a violation of any law or regulation that prohibits fraudulent, manipulative or deceptive conduct and for which the order was entered within the 10-year period ending on the date of the filing of this offering statement?

15

x  
S M B

DocuSign Envelope ID: 4A5D0447-3ED3-471A-898F-D82E66195CEA

☐ Yes
☑ No

If yes to any of the above, please explain: N/A

4. Is any such person subject to an order of the Commission entered pursuant to Section 15(b) or 15B(c) of the Exchange Act or Section 203(e) or (f) of the Investment Advisers Act of 1940 that, at the time of the filing of this offering statement:

A. Suspends or revokes such person's registration as a broker, dealer, municipal securities dealer, investment adviser or funding portal?

☐ Yes
☑ No

B. Places limitations on the activities, functions or operations of such person?

☐ Yes
☑ No

C. Bars such person from being associated with any entity or from participating in the offering of any penny stock?

☐ Yes
☑ No

If yes to any of the above, please explain: N/A

5. Is any such person subject to any order of the Commission entered within five years before the filing of this offering statement that, at the time of the filing of this offering statement, orders the person to cease and desist from committing or causing a violation or future violation of:

A. Any scienter-based anti-fraud provision of the federal securities laws, including without limitation Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act, Section 15(c)(1) of the Exchange Act and Section 206(1) of the Investment Advisers Act of 1940 or any other rule or regulation thereunder?

☐ Yes
☑ No

B. Section 5 of the Securities Act?

☐ Yes
☑ No

If yes to any of the above, please explain: N/A

6. Is any such person suspended or expelled from membership in, or suspended or barred from association with a member of, a registered national securities exchange or a registered national or affiliated securities association for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade?

☐ Yes
☑ No

If yes to any of the above, please explain: N/A

7. Has any such person filed (as a registrant or issuer), or was any such person or was any such person named as an underwriter in, any registration statement or Regulation A offering statement filed with the Commission that, within five years before the filing of this offering statement, was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is any such person, at the time of such filing, the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued?

16

SMB

DocuSign Envelope ID: 4A5D0447-3ED3-471A-898F-D82E66195CEA

☐ Yes
☑ No

If yes to any of the above, please explain: N/A

8. Is any such person subject to a United States Postal Service false representation order entered within five years before the filing of the information required by Section 4A(b) of the Securities Act, or is any such person, at the time of filing of this offering statement, subject to a temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property through the mail by means of false representations?

☐ Yes
☑ No

If yes to any of the above, please explain: N/A

17

SMB

DocuSign Envelope ID: 4A5D0447-3ED3-471A-898F-D82E66195CEA

# ONGOING REPORTING

The issuer will file a report electronically with the Securities & Exchange Commission annually and post the report on its website, no later than:

120 days after the end of each fiscal year covered by the report.

Once posted, the annual report may be found on the intermediary's website under the offering's Issuer Financial Information section at:

https://thesmbx.com

The issuer must continue to comply with the ongoing reporting requirements until:

1) the issuer is required to file reports under Section 13(a) or Section 15(d) of the Exchange Act;
2) the issuer has filed, since its most recent sale of securities pursuant to this part, at least one annual report and has fewer than 300 holders of record;
3) the issuer has filed, since its most recent sale of securities pursuant to this part, at least three annual reports and has total assets that do not exceed $10,000,000;
4) the issuer or another party repurchases all of the securities issued in reliance on Section 4(a)(6) of the Securities Act, including any payment in full of debt securities or any complete redemption of redeemable securities;
5) the issuer liquidates or dissolves its business in accordance with state law.

18

SMB

DocuSign Envelope ID: 4A5D0447-3ED3-471A-898F-D82E66195CEA

# APPENDICES

Appendix A: Bond Prospectus

Appendix B: Financial Statements

Appendix C: Other Supplemental Documents

19

S M B

**Attachment 2:** `bondpygkb.pdf`

_No text found in this document._

**Attachment 3:** `2021combinedfinancials.pdf`

_No text found in this document._

**Attachment 4:** `2022combinedfinancials.pdf`

_No text found in this document._

**Attachment 5:** `offeringsummaryygkb.pdf`

_No text found in this document._

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** Young Kobras LLC

**Legal Status:** Limited Liability Company

**Jurisdiction of Incorporation/Organization:** CA

**Date of Organization:** 05-06-2019

**Physical Address:** 940 COMMERCIAL ST, SAN CARLOS, CA, 94070

**Issuer Website:** www.youngkobras.com

**Is there a Co-Issuer?:** No

**Intermediary Name:** SMBX, Inc.

**Intermediary CIK:** 0001707214

**Intermediary File Number:** 007-00129

**Intermediary CRD Number:** 290186

### Offering Information

**Compensation to Intermediary:** SMBX will be charging a capital raise fee of 4.50% (up to $5,580 based on the total amount raised)

**Financial Interest in Issuer:** N/A

**Type of Security Offered:** Debt

**Price per Security:** $10.00

**Method for Determining Price:** This is a debt security and the yield at which the bonds pay interest is determined by the market rate yield range for similar SBA loans in the market as of March 2023. The yield is fixed and determined upfront at 10.00%.

**Target Offering Amount:** $30,000.00

**Oversubscription Accepted:** Yes

**Oversubscription Allocation Type:** First-come, first-served basis

**Maximum Offering Amount:** $124,000.00

**Deadline to Reach Target Amount:** 05-08-2023

### Annual Report Disclosure Requirements

**Current Number of Employees:** 7.00

**Total Assets (Most Recent Fiscal Year):** $94,600.00

**Total Assets (Prior Fiscal Year):** $96,728.00

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $67,142.00

**Cash & Cash Equivalents (Prior Fiscal Year):** $69,165.00

**Accounts Receivable (Most Recent Fiscal Year):** $27,458.00

**Accounts Receivable (Prior Fiscal Year):** $27,563.00

**Short-Term Debt (Most Recent Fiscal Year):** $-484.00

**Short-Term Debt (Prior Fiscal Year):** $50,273.00

**Long-Term Debt (Most Recent Fiscal Year):** $90,000.00

**Long-Term Debt (Prior Fiscal Year):** $90,000.00

**Revenues/Sales (Most Recent Fiscal Year):** $852,139.00

**Revenues/Sales (Prior Fiscal Year):** $575,315.00

**Cost of Goods Sold (Most Recent Fiscal Year):** $174,372.00

**Cost of Goods Sold (Prior Fiscal Year):** $254,962.00

**Taxes Paid (Most Recent Fiscal Year):** $0.00

**Taxes Paid (Prior Fiscal Year):** $0.00

**Net Income (Most Recent Fiscal Year):** $85,629.00

**Net Income (Prior Fiscal Year):** $63,616.00

**Jurisdictions Offered:**

ALABAMA, ALASKA, ARIZONA, ARKANSAS, CALIFORNIA, COLORADO, CONNECTICUT, DELAWARE, DISTRICT OF COLUMBIA, FLORIDA, GEORGIA, HAWAII, IDAHO, ILLINOIS, INDIANA, IOWA, KANSAS, KENTUCKY, LOUISIANA, MAINE, MARYLAND, MASSACHUSETTS, MICHIGAN, MINNESOTA, MISSISSIPPI, MISSOURI, MONTANA, NEBRASKA, NEVADA, NEW HAMPSHIRE, NEW JERSEY, NEW MEXICO, NEW YORK, NORTH CAROLINA, NORTH DAKOTA, OHIO, OKLAHOMA, OREGON, PENNSYLVANIA, PR, RHODE ISLAND, SOUTH CAROLINA, SOUTH DAKOTA, TENNESSEE, TEXAS, UTAH, VERMONT, VIRGINIA, WASHINGTON, WEST VIRGINIA, WISCONSIN, WYOMING

### Signatures

**Issuer:** Young Kobras LLC

**Signature:** Geoff Kober

**Title:** Managing Member

---

**Signature:** Geoff Kober

**Title:** Managing Member

**Date:** 03-22-2023