# EDGAR Filing Document

**Accession Number:** 0001946910
**File Stem:** 0001829126-23-000956
**Filing Date:** 2023-1
**Character Count:** 280553
**Document Hash:** 887677420edc44698cc804b0381be678
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001829126-23-000956.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0001829126-23-000956

**CONFORMED SUBMISSION TYPE**: 1-A/A

**PUBLIC DOCUMENT COUNT**: 22

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230124

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Freeport Holdings Series LLC
- **CENTRAL INDEX KEY:** 0001946910
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-RETAIL STORES, NEC [5990]
- **IRS NUMBER:** 883850992
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 1-A/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 024-12099
- **FILM NUMBER:** 23547201

**BUSINESS ADDRESS:**
- **STREET 1:** 1209 ORANGE STREET
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801
- **BUSINESS PHONE:** 3125155874

**MAIL ADDRESS:**
- **STREET 1:** 1209 ORANGE STREET
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801

## Part

**AN OFFERING STATEMENT PURSUANT TO REGULATION A RELATING TO THESE SECURITIES HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. INFORMATION CONTAINED IN THIS PRELIMINARY OFFERING CIRCULAR IS SUBJECT TO COMPLETION OR AMENDMENT. THESE SECURITIES MAY NOT BE SOLD NOR MAY OFFERS TO BUY BE ACCEPTED BEFORE THE OFFERING STATEMENT FILED WITH THE COMMISSION IS QUALIFIED. THIS PRELIMINARY OFFERING CIRCULAR SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR MAY THERE BE ANY SALES OF THESE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL BEFORE REGISTRATION OR QUALIFICATION UNDER THE LAWS OF ANY SUCH STATE. WE MAY ELECT TO SATISFY OUR OBLIGATION TO DELIVER A FINAL OFFERING CIRCULAR BY SENDING YOU A NOTICE WITHIN TWO BUSINESS DAYS AFTER THE COMPLETION OF OUR SALE TO YOU THAT CONTAINS THE URL WHERE THE OFFERING CIRCULAR WAS FILED MAY BE OBTAINED.**

 **PRELIMINARY OFFERING CIRCULAR DATED JANUARY 24, 2023**

**FREEPORT HOLDINGS SERIES, LLC**

1181 Nixon Dr. #1009

Moorestown, NJ 08057

www.freeport.app

**Best Efforts Offering of Class A Ordinary Shares of Various Series**

Freeport Holdings Series, LLC, a Delaware series limited liability company (which we refer to as "we," "us," "our" "Freeport Holdings" or "company"), is offering, on a best-efforts basis, the membership interests in each of the series of our company in the "Series Offering Table" beginning on page 1. These membership interests are designated as Class A Ordinary Shares of the respective series.

All of the series of our company offered hereunder may collectively be referred to in this Offering Circular as the "series" and each, individually, as a "series." The membership interests of all series described above may collectively be referred to in this Offering Circular as the "shares" and each, individually, as a "share" and the offerings of the shares may collectively be referred to in this Offering Circular as the "offerings" and each, individually, as an "offering." See "Securities Being Offered" for additional information regarding the shares.

The shares are limited liability company membership interests in a series of our company. Each series is treated as a unique legal entity. Purchasing a share in a series does not confer to the investor any ownership in our company or any other series. Each series is managed by a Manager. The Manager will be the investor liaison to our company and will perform duties such as assisting our company with communications to our investors, providing shareholder services, handling the distributions of dividends, and overseeing our shareholder records. Separately, the Curator will source and secure the rights to the underlying assets in each series and seek out opportunities for disposition of the assets. Freeport Services, LLC will serve as the Manager, while Freeport Curation, LLC will be the Curator to each series of our company. The rights and responsibilities of the Manager and Curator are as set out in the operating agreement of the company (the "Operating Agreement"), the operating agreement for each series (the "Series Operating Agreement"), and respective services agreements, which are included as exhibits to the Offering Statement of which this Offering Circular is part. Defined terms not otherwise defined herein are defined under the Operating Agreement or Series Operating Agreement. See "The Company's Business" for more information on the duties of our Manager and Curator of our series.

We intend that each share will be represented by a digital token that may be viewed through the online platform operated by Freeport Technologies, LLC. The tokens are not themselves shares of our series, rather they are digital representations of the number of shares purchased and held by a given investor.

[**Table of Contents**](#toc)

Our company can offer up to $75 million within a rolling 12-month period pursuant to Regulation A. Our company intends to offer additional series within such limit and will file post qualification amendments for the offerings of such series with the U.S. Securities and Exchange Commission (the "Commission"). The offerings of such series will be made available to investors from the date such amendment is qualified by the Commission. There will be separate closings with respect to each offering. An offering will terminate at the earlier of (i) the date at which the maximum offering amount has been sold; or (ii) the date at which the offering is earlier terminated by the company at its sole discretion provided that subscriptions for the minimum number of shares for that particular series' offering has been accepted. If a closing has not occurred, an offering shall be terminated upon (i) the date which is sixty days from the date such offering circular or amendment thereof, as applicable, is qualified by the Commission, which period may be extended with respect to a particular series by our Manager in its sole discretion, or (ii) any date on which our Manager elects to terminate the offering for a particular series in its sole discretion. At least every 12 months after this offering statement has been qualified by the Commission, the company will file a post-qualification amendment to include the company's recent financial statements. The company has engaged North Capital as escrow agent to hold any funds that are tendered by investors. The offerings are being conducted on a best-efforts basis. The company will undertake a single closing for investors once reaching the minimum amount for that particular series. After each closing related to a particular series, funds tendered by investors will be made available to the relevant series.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Series Warhol AWMICKEY** | **Series** | **Price to public** | **Underwriting discount and commissions<sup>(1)</sup>** | **Proceeds to Issuer** |
| Per Share |  | $85.25 | $.85 | $84.40 |
| Total Minimum | 10,000 shares | $852500 | $8500 | $844000 |
| Total Maximum | 10,000 shares | $852500 | $8.500 | $844000 |

---

(1) The
company has engaged Dalmore Group LLC, member FINRA/SIPC ("Dalmore"), to act as the broker-dealer of record in connection
with this Offering, but not for underwriting or placement agent services. This includes the 1% commission, but it does not include the
one-time set-up fee and consulting fee payable by the company to Dalmore. The commission and fees will be paid for by the series out
of the proceeds of the Offering. See "Plan of Distribution" for more details. To the extent that the company's officers
and directors make any communications in connection with the Offering they intend to conduct such efforts in accordance with an exemption
from registration contained in Rule 3a4-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and,
therefore, none of them is required to register as a broker-dealer.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Series Warhol AWMARILYN** | **Series** | **Price to public** | **Underwriting discount and commissions<sup>(1)</sup>** | **Proceeds to Issuer** |
| Per Share |  | $57.98 | $.58 | $57.40 |
| Total Minimum | 10,000 shares | $579800 | $5800 | $574000 |
| Total Maximum | 10,000 shares | $579800 | $5800 | $574000 |

---

(1) The
company has engaged Dalmore Group LLC, member FINRA/SIPC ("Dalmore"), to act as the broker-dealer of record in connection
with this Offering, but not for underwriting or placement agent services. This includes the 1% commission, but it does not include the
one-time set-up fee and consulting fee payable by the company to Dalmore. The commission and fees will be paid by the series out of the
proceeds of the Offering. See "Plan of Distribution" for more details. To the extent that the company's officers and
directors make any communications in connection with the Offering they intend to conduct such efforts in accordance with an exemption
from registration contained in Rule 3a4-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and,
therefore, none of them is required to register as a broker-dealer.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Series Warhol AWDEAN** | **Series** | **Price to public** | **Underwriting discount and commissions<sup>(1)</sup>** | **Proceeds to Issuer** |
| Per Share |  | $21.62 | $.22 | $21.40 |
| Total Minimum | 10,000 shares | $216200 | $2200 | $214000 |
| Total Maximum | 10,000 shares | $216200 | $2200 | $214000 |

---

(1) The
company has engaged Dalmore Group LLC, member FINRA/SIPC ("Dalmore"), to act as the broker-dealer of record in connection
with this Offering, but not for underwriting or placement agent services. This includes the 1% commission, but it does not include the
one-time set-up fee and consulting fee payable by the company to Dalmore. The commission and fees will be paid by the series out of the
proceeds of the Offering. See "Plan of Distribution" for more details. To the extent that the company's officers and
directors make any communications in connection with the Offering they intend to conduct such efforts in accordance with an exemption
from registration contained in Rule 3a4-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and,
therefore, none of them is required to register as a broker-dealer.

[**Table of Contents**](#toc)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Series Warhol AWJAGGER** | **Series** | **Price to public** | **Underwriting discount and commissions<sup>(1)</sup>** | **Proceeds to Issuer** |
| Per Share |  | $24.65 | $.25 | $24.40 |
| Total Minimum | 10,000 shares | $246500 | $2500 | $244000 |
| Total Maximum | 10,000 shares | $246500 | $2500 | $244000 |

---

(1) The
company has engaged Dalmore Group LLC, member FINRA/SIPC ("Dalmore"), to act as the broker-dealer of record in connection
with this Offering, but not for underwriting or placement agent services. This includes the 1% commission, but it does not include the
one-time set-up fee and consulting fee payable by the company to Dalmore. The commission and fees will be paid by the series out of the
proceeds of the Offering. See "Plan of Distribution" for more details. To the extent that the company's officers and
directors make any communications in connection with the Offering they intend to conduct such efforts in accordance with an exemption
from registration contained in Rule 3a4-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and,
therefore, none of them is required to register as a broker-dealer.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Series Warhol AWSHOES** | **Series** | **Price to public** | **Underwriting discount and commissions<sup>(1)</sup>** | **Proceeds to Issuer** |
| Per Share |  | $36.77 | $.37 | $36.40 |
| Total Minimum | 10,000 shares | $367700 | $3700 | $364000 |
| Total Maximum | 10,000 shares | $367700 | $3700 | $364000 |

---

(1) The
company has engaged Dalmore Group LLC, member FINRA/SIPC ("Dalmore"), to act as the broker-dealer of record in connection
with this Offering, but not for underwriting or placement agent services. This includes the 1% commission, but it does not include the
one-time set-up fee and consulting fee payable by the company to Dalmore. The commission and fees will be paid by the series out of the
proceeds of the Offering. See "Plan of Distribution" for more details. To the extent that the company's officers and
directors make any communications in connection with the Offering they intend to conduct such efforts in accordance with an exemption
from registration contained in Rule 3a4-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and,
therefore, none of them is required to register as a broker-dealer.

**THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION DOES NOT PASS UPON THE MERITS OR GIVE ITS APPROVAL OF ANY SECURITIES OFFERED OR THE TERMS OF THE OFFERING, NOR DOES IT PASS UPON THE ACCURACY OR COMPLETENESS OF ANY OFFERING CIRCULAR OR OTHER SOLICITATION MATERIALS. THESE SECURITIES ARE OFFERED PURSUANT TO AN EXEMPTION FROM REGISTRATION WITH THE COMMISSION; HOWEVER THE COMMISSION HAS NOT MADE AN INDEPENDENT DETERMINATION THAT THE SECURITIES OFFERED ARE EXEMPT FROM REGISTRATION**

**GENERALLY NO SALE MAY BE MADE TO YOU IN THIS OFFERING IF THE AGGREGATE PURCHASE PRICE YOU PAY IS MORE THAN 10% OF THE GREATER OF YOUR ANNUAL INCOME OR NET WORTH. DIFFERENT RULES APPLY TO ACCREDITED INVESTORS AND NON-NATURAL PERSONS. BEFORE MAKING ANY REPRESENTATION THAT YOUR INVESTMENT DOES NOT EXCEED APPLICABLE THRESHOLDS, WE ENCOURAGE YOU TO REVIEW RULE 251(d)(2)(i)(C) OF REGULATION A. FOR GENERAL INFORMATION ON INVESTING, WE ENCOURAGE YOU**

**TO REFER TO www.investor.gov.**

**This offering is inherently risky. See "Risk Factors" on page 9.**

The company is following the "Offering Circular" format of disclosure under Regulation A.

In the event that we become a reporting company under the Securities Exchange Act of 1934, we intend to take advantage of the provisions that relate to "Emerging Growth Companies" under the JOBS Act of 2012. See "Summary -- Implications of Being an Emerging Growth Company."

[**Table of Contents**](#toc)

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [SUMMARY](#a_001) | 2 |
| [Q&A](#a_002) | 6 |
| [RISK FACTORS](#a_003) | 9 |
| [DILUTION](#a_004) | 18 |
| [PLAN OF DISTRIBUTION](#a_005) | 19 |
| [USE OF PROCEEDS TO ISSUER](#a_006) | 22 |
| [THE UNDERLYING ASSETS](#a_007) | 26 |
| [THE COMPANY'S BUSINESS](#a_008) | 30 |
| [THE COMPANY'S PROPERTY](#a_009) | 36 |
| [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION](#a_010) | 37 |
| [DIRECTORS, EXECUTIVE OFFICERS AND SIGNIFICANT EMPLOYEES](#a_011) | 39 |
| [MANAGEMENT COMPENSATION](#a_012) | 40 |
| [SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITYHOLDERS](#a_013) | 41 |
| [INTEREST OF MANAGEMENT AND OTHERS IN CERTAIN TRANSACTIONS](#a_014) | 42 |
| [SECURITIES BEING OFFERED](#a_015) | 43 |
| [ONGOING REPORTING AND SUPPLEMENTS TO THIS OFFERING CIRCULAR](#a_016) | 46 |
| [FINANCIAL STATEMENTS](#fin_001) | F-1 |

---

THIS OFFERING CIRCULAR MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY'S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS "ESTIMATE," "PROJECT," "BELIEVE," "ANTICIPATE," "INTEND," "EXPECT" AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT'S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY'S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.

i

[**Table of Contents**](#toc)

**SERIES OFFERING TABLE**

The table below shows key information related to the offering of each series. Please also refer to "The Underlying Assets" and "Use of Proceeds" for further details.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Series Name** | **Asset Description** | **Offering Price Per Share** | **Offering Size** | **Minimum/<br> maximum Shares Offered<sup>(2)</sup>** | **Minimum Subscription Amount** | **Initial Qualification Date<sup>(3)</sup>** | **Opening Date<sup>(4)</sup>** | **Status** |
| Series Warhol AWMICKEY | Andy Warhol Double Mickey Mouse 1981 Print (Signed by the Artist) | $85.25 | $852500 | 10,000 shares | 10 shares | [ ] | [ ] \* | Not Yet Qualified |
| Series Warhol AWMARILYN | Andy Warhol Marilyn Monroe 1967 Print (Signed by the Artist) | $57.98 | $579800 | 10,000 shares | 10 shares | [ ] | [ ] \* | Not Yet Qualified |
| Series Warhol AWDEAN | Andy Warhol Rebel Without a Cause (James Dean) 1985 Print (Signed by the Artist) | $21.62 | $216200 | 10,000 shares | 10 shares | [ ] | [ ] \* | Not Yet Qualified |
| Series Warhol AWJAGGER | Andy Warhol Mick Jagger 1975 Print (Signed by the Artist and the Subject) | $24.65 | $246500 | 10,000 shares | 10 shares | [ ] | [ ] \* | Not Yet Qualified |
| Series Warhol AWSHOES | Andy Warhol <br>Shoes 1980 Print | $36.77 | $367700 | 10,000 shares | 10 shares | [ ] | [ ] \* | Not Yet Qualified |

---

\* *This series offering has not yet closed as of the date of this Offering Circular.*

 

(1) The
 series will purchase the underlying asset from third-party sellers pursuant to purchase agreements
 or purchase option agreements negotiated by the Curator, a form of which is included as Exhibit
 6.1 to this offering statement of which this Offering Circular forms a part, and as described
 further under "The Company's Business – Asset Acquisition").

(2) For
 open offerings, each row states, with respect to the given offering, the minimum and maximum
 number of interests offered. For an offering in which there was an initial closing, we also
 include the number of interests sold as of the date of this offering circular. For closed
 offerings, each row states the actual number of interests sold.

(3) For
 each offering, each row states, with respect to the given offering, the date on which the
 offering was initially qualified by the Commission.

(4) For
 each offering, each row states, with respect to the given offering, the date on which offers
 and sales for such offering commenced.

[**Table of Contents**](#toc)

**SUMMARY**

**Overview**

Freeport Holdings Series, LLC is a series limited liability ("Series LLC") company formed on June 17, 2022 pursuant to Section 18-215 of the Delaware Limited Liability Company Act, or the LLC Act.

As a Series LLC, title to our underlying assets will be held by, or for the benefit of, the applicable series. Each Series LLC will own its own underlying assets, which will be artworks – including, but not limited to, paintings, sculptures, mixed media, etc. A Series LLC will be issued for each artwork to be acquired by us.

Freeport's mission is to democratize ownership of rare art and other assets by providing two things to investors: direct financial exposure and membership in a digital collector's community. Freeport attempts to fundamentally redefine the ownership experience for users via digital technologies that seek to increase the utility of the assets on our platform. At its core, Freeport envisions a world where more people get access to collectible assets – and the ability to engage with those assets in compelling new ways.

Each Series LLC will be managed by Freeport Services, LLC, our Manager. As our Manager, Freeport Services, LLC will be responsible for administration of each series and ongoing maintenance of each series asset. For these services, our Manager will receive a fee of 1.5% of the value of the outstanding shares of the series, issued in shares, on an annual basis. See "Management Compensation" for more information.

We intend to initially source artworks through our affiliated entity, Freeport Curation, LLC (the "Curator"). The Curator will conduct research into the current market for artwork, trends, up and coming artists, and other information which may inform artwork purchases, and later, disposition. The Curator will then negotiate purchases of the identified artwork. In exchange for its services the Curator will receive a 10% fee. See "Management Compensation" for more information.

We also intend for investors to have access to funds from the series in which they have invested as a bonus of being a member of that series. See "The Company's Business – Member Liquidity Access Benefit" for more information.

**Members of our company**

An investor who has purchased shares in one of our series in this offering will become a "Member" of a series of our company (as defined in our series limited liability company agreement, a form of which is filed as Exhibit 2.3, or our "Series Operating Agreement"). No Member, in its capacity as such, will participate in the operation or management of the business of our company or any series, nor transact any business in our company or any series.

**Manager of our company**

Our Manager, Freeport Services, LLC, will also be the Manager for the company and each series. As such, Freeport Services, LLC has the full power and authority to do all things necessary or appropriate to conduct the business of our company and each series, without the consent of our Members. Freeport Services, LLC is a Delaware limited liability company formed on June 17, 2022, and is wholly owned by Abstract Ventures, Inc. ("Abstract Ventures"). Abstract Ventures was founded in 2021 with the goal of facilitating new ways for humans to interact with items of value. Abstract Ventures is the parent company to Freeport Holdings Series, LLC as well as the affiliated entities supporting Freeport Holdings Series, LLC, including Freeport Curation, LLC; Freeport Technologies, LLC; and Freeport Services, LLC.

As the Manager for each series, Freeport Services, LLC will be and as such is responsible for managing the underlying asset or assets related to such series. Our Manager has the sole authority and complete discretion over the care, custody, maintenance and management of each underlying assets and to take any action that it deems necessary or desirable in connection therewith.

Our Manager has broad asset management and operational powers over the series. In this capacity, our Manager will (among other things):

● Provide managerial and general administrative services to the series;

● Manage and perform the various administrative functions necessary for the day-to-day operations and management of the series assets;

● Provide or arrange for administrative services, legal services, office space and other overhead items necessary for and incidental to acquisition, management and disposition of series assets;

[**Table of Contents**](#toc)

● Maintain reporting, record keeping, internal controls and similar matters with respect to the series assets in a manner to allow our company to comply with applicable law, including the requirements of under Section 18-215 of the LLC Act;

● Provide physical asset maintenance and storage services, and coordinating for insurance and appraisal services;

● Establish distribution policies for each series, and authorize distributions from time to time; and

● Manage communications with Members.

**Curator**

As the Curator, Freeport Curation, LLC will be responsible for sourcing artwork for each series. Freeport Curation, LLC is a Delaware limited liability company formed on June 17, 2022, and is wholly owned by Abstract Ventures.

**Organizational Chart**

 

*The above chart provides a general overview of our organizational structure. Investors will contribute funds into a specific series, such as the examples identified in the chart. Each of those series is formed under Freeport Holdings Series, LLC, the company. Freeport Holdings Series, LLC and each series is managed by Freeport Services, LLC, with the assets for a series being sourced by Freeport Curation, LLC. Freeport Technologies, LLC will provide the platform and technology services for the operation of the online website where investors may subscribe to the Offering and interact with their investments. Each of Freeport Holdings Series, LLC, Freeport Technologies, LLC, Freeport Curation, LLC, and Freeport Services, LLC is wholly owned by Abstract Ventures.*

**Operating Expenses and Fees**

Each series will be responsible for fees directly associated with the offering of its series interests. Expenses associated with operation of each series asset (e.g., insurance, storage, shipping fees, professional fees, and reports to investors) will be incurred by our Manager in exchange for the Management Fee, described below.

As discussed above and as compensation for its services sourcing the series asset, Freeport Curation, LLC will receive a procurement fee equal to 10% of the purchase price of the series asset ("**Sourcing Fee**"). This amount will be funded out of the proceeds from the offering. In addition, when the underlying physical asset is disposed of, Freeport Curation, LLC will receive a disposition fee equal to 10% of the profits generated, if any ("**Disposition Fee**"). The definition of "profit" means the sale price of the any asset that the Series LLC sells reduced by (i) the expenses associated with the transfer or disposition of those assets and (ii) the initial purchase price of that asset.

[**Table of Contents**](#toc)

As compensation for its services, Freeport Technologies, LLC will receive a platform fee equal to 10% of the purchase price of the series asset. This amount will be funded out of the proceeds from the offering.

Our Manager will receive a management fee in the form of equity of each series (the "**Management Fee**"). The Management consists of a fee in the form of Class A shares of the Series LLC amounting to 1.5% of the individual series' total Class A shares outstanding after the final closing ("Closing Date") of the offering by the individual series to the public pursuant to Regulation A. The Series LLC pays the Management Fee on an annual basis commencing at the Closing Date and on January 1 thereafter. The first year being paid on a pro rata basis from the Closing Date until December 31. The Manager will return the pro rata Management Fee in the year that the art asset is sold. The Manager will only charge the Series LLC the Management fee for up to 15 years from the Closing Date.

**Distributions**

To determine the extent of any distributions at the time of the liquidation of a series as described in the Series Operating Agreement, our Manager intends to make payments and distributions as follows:

● First, payment of accrued and unpaid fees, costs, and liabilities, applicable taxes, and any costs related to the transfer or disposition of the asset, which, for the avoidance of doubt, will include the Disposition Fee; and

● Second, to the Members pro rata based on the percent ownership of the series (which, for the avoidance of doubt, will include the Manager as they will have received shares for its management);

**The Offerings**

---

| | |
|:---|:---|
| **Securities being offered:** | This offering is for shares of the series of Freeport Holdings Series, LLC. The shares being sold in this offering will have voting rights as set forth in our Series Operating Agreement. The purchase of a particular series of shares is an investment only in that series of our company and not an investment in our company as a whole. The rights of the shares are described more fully in "Securities Being Offered." |
|  | We are offering the minimum and maximum number of shares of each series at a price per share set forth in the "Series Offering Table" section above. Each series of shares is intended to be a separate series of our company for purposes of assets and liabilities. The purchase of shares in a particular series is an investment only in that series of our company and not an investment in our company as a whole. |
| **Minimum subscription:** | The minimum subscription by an investor for each series is detailed in the "Series Offering Table" section above. |
| **Use of proceeds:** | The proceeds received in an offering will be applied as set forth in the "Use of Proceeds" section of this Offering Circular, and will generally be used to acquire the specific assets related to that offering. |
| **Risk factors:** | Investing in our shares involves risks. See the section entitled "Risk Factors" in this Offering Circular and other information included in this Offering Circular for a discussion of factors you should carefully consider before deciding to invest in our shares. |

---

[**Table of Contents**](#toc)

**Implications of Being an Emerging Growth Company**

As an issuer with less than $1 billion in total annual gross revenues during our last fiscal year, we will qualify as an "emerging growth company" under the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act") and this status will be significant if and when we become subject to the ongoing reporting requirements of the Exchange. An emerging growth company may take advantage of certain reduced reporting requirements and is relieved of certain other significant requirements that are otherwise generally applicable to public companies. In particular, as an emerging growth company we:

● will not be required to obtain an auditor attestation on our internal controls over financial reporting pursuant to the Sarbanes- Oxley Act of 2002;

● will not be required to provide a detailed narrative disclosure discussing our compensation principles, objectives and elements and analyzing how those elements fit with our principles and objectives (commonly referred to as "compensation discussion and analysis");

● will not be required to obtain a non-binding advisory vote from our securityholders on executive compensation or golden parachute arrangements (commonly referred to as the "say-on-pay," "say-on-frequency" and "say-on-golden-parachute" votes);

● will be exempt from certain executive compensation disclosure provisions requiring a pay-for-performance graph and CEO pay ratio disclosure;

● may present only two years of audited financial statements and only two years of related Management's Discussion and Analysis of Financial Condition and Results of Operations, or MD&A; and

● will be eligible to claim longer phase-in periods for the adoption of new or revised financial accounting standards.

We intend to take advantage of all of these reduced reporting requirements and exemptions, including the longer phase-in periods for the adoption of new or revised financial accounting standards under Section 107 of the JOBS Act. Our election to use the phase-in periods may make it difficult to compare our financial statements to those of non-emerging growth companies and other emerging growth companies that have opted out of the phase-in periods under Section 107 of the JOBS Act.

Under the JOBS Act, we may take advantage of the above-described reduced reporting requirements and exemptions for up to five years after our initial sale of common equity pursuant to a registration statement declared effective under the Securities Act of 1933, as amended, or such earlier time that we no longer meet the definition of an emerging growth company. Note that this offering, while a public offering, is not a sale of common equity pursuant to a registration statement, since the offering is conducted pursuant to an exemption from the registration requirements. In this regard, the JOBS Act provides that we would cease to be an "emerging growth company" if we have more than $1.07 billion in annual revenues, have more than $700 million in market value of our common stock held by non-affiliates, or issue more than $1.07 billion in principal amount of non-convertible debt over a three-year period.

Certain of these reduced reporting requirements and exemptions are also available to us due to the fact that we may also qualify, once listed, as a "smaller reporting company" under the Commission's rules. For instance, smaller reporting companies are not required to obtain an auditor attestation on their assessment of internal control over financial reporting; are not required to provide a compensation discussion and analysis; are not required to provide a pay-for-performance graph or CEO pay ratio disclosure; and may present only two years of audited financial statements and related MD&A disclosure.

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**Q & A**

**Q: Who is Freeport?**

A: "Freeport" refers to a collection of companies that support Freeport Holdings Series, LLC by providing technical, administrative, and curation services, among others. Freeport Technologies, LLC has created a platform that allows users to invest in fine art and showcase their art and other assets in a unique digital format. Freeport Curation, LLC provides art curation services including research on the art market as well as finding sellers and buyers of artwork. Freeport Services, LLC serves as the Manager of each series and provides administrative services. Freeport provides this offering and others at the website www.freeport.app.

**Q: What is a series LLC?**

A: A series LLC is a type of limited liability company. We have decided to organize under the laws of Delaware because of its established certainty regarding the use of the form of a series LLC. For a series LLC, we have filed with Delaware for the formation of our master LLC. This is the entity that also makes filings with the Securities and Exchange Commission. Underneath the master LLC, we have created each series, which is organized to hold a specific asset. Under Delaware law, each series is treated as a separate legal entity when determining the assets and liabilities of the series, as well as for tax treatment.

**Q: What are the interests I will receive if investing?**

A: You will receive limited liability company interests of the series into which you invest. These limited liability company interests, which we call shares, provide investors with an ownership interest in the series. You are not receiving a direct ownership in the artwork, which is owned by the series. Also, you are not receiving ownership in any other series.

**Q: Who is Series Warhol AWMICKEY?**

A: Series Warhol AWMICKEY is a series of Freeport Holdings Series, LLC. Series Warhol AWMICKEY was founded and formed to facilitate an investment in the Andy Warhol Double Mickey Mouse 1981 Print. We have created separate series for each other artwork in this offering as well.

**Q: How does the series acquire the artwork?**

A: Each series will acquire its artwork from a third-party seller pursuant to an agreement negotiated by the Curator. The series will use proceeds from its offering to investors to acquire the artwork.

**Q: Who owns the physical artwork?**

A: Subject to the offering meeting its minimum subscription amount, the physical artwork will be purchased through a purchase option agreement by Freeport Holdings Series, LLC on behalf of each series. Upon close of the offer, the artwork will be transferred to the series who will retain ownership of the artwork.

**Q: Where is the physical artwork housed?**

A: The physical artwork will be housed at a secure vault that specializes in the preservation and security of fine art. We intend for the art to first be stored in New York City, but may change the location if better opportunities are present. If we ever transfer the art, it will be done in a secure manner.

**Q: Can I view the artwork?**

A: At this time, the artwork is not available for public viewing, even to investors. However, Freeport is working on partnerships that may allow for the artwork to be displayed in the future.

**Q: Is the physical artwork insured?**

A: All physical artwork will have asset-level insurance coverage. These costs will be the responsibility of Freeport Services, LLC, the Manager of each series.

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**Q: Who can buy shares in each series?**

A: As a filer under Regulation A, the Freeport Holdings Series, LLC offering is open to the general public. However, there are some qualifications and restrictions. Investors who meet the requirements to be an "accredited investor," as defined under Rule 501(a) of Regulation D, have no limits on the amounts they may invest by reason of Regulation A. All other investors are able to participate up to 10% of the greater of their annual income or net worth. Regulation A is an exemption for offers and sales of securities to US investors. For non-US persons, we may be able to accept investments if we are able to determine accepting such an investment would comply with the laws of the jurisdiction of the investor.

**Q: What are the risks associated with an investment in a series of Freeport Holdings Series, LLC?**

A: An investment in a series of Freeport Holdings Series, LLC is inherently risky. There is no guarantee of a liquid secondary market, and the series will likely hold the physical artwork for many years. The Manager has broad discretion about the disposition of the asset held by any particular series. Therefore, the capital invested may be "stuck" for an extended period of time. As such, you should only make an investment if you can afford to do so. Please see "Risk Factors" for a comprehensive discussion of the risks related to an investment in this Offering.

**Q: Are there any minimums related to investment in a series?**

A: During the initial offering, a minimum of 10 shares must be purchased. Minimums can be waived at the Manager's discretion.

**Q: Are there any maximums related to investment in a series?**

A: The maximum number of shares owned by a single investor is 10%. Maximums can be waived at the Manager's discretion.

**Q: Is there a minimum amount of the offering that must be sold?**

A: 100% of the offered shares must be sold for the offer to be completed. If less than 100% of offered shares are sold, the offer will be canceled, and funds will be returned to investors.

**Q: How long does each series plan to hold its artwork?**

A: We anticipate each series will hold its artwork for three to seven years. However, the artwork may be held for a shorter or longer period depending on market conditions and the quality of inbound offers, among other factors.

**Q: Who decides if and when the artwork will be sold?**

A: As the Manager of each series, Freeport Services holds ultimate decision-making authority to accept an offer on a physical piece of artwork.

**Q: What happens when the physical artwork is sold?**

A: When the physical artwork is sold, each series will reimburse its Manager for any expenses incurred in the disposition of the artwork, including seller's fees, commissions, transaction fees, any applicable income taxes, plus a 10% disposition fee payable to the Curator. The remaining funds, if any, will then be distributed to shareholders according to the terms of our Operating Agreement. While we plan to hold the artwork for an extended period of time, the artwork will be considered for sale continuously during and after the Offering process.

**Q: What information do you file with the SEC?**

A: As an issuer under Tier 2 of Regulation A, Freeport Holdings Series, LLC will file regular updates with the SEC including an annual report, a semi-annual report, supplements to the offering circular when material events occur, post-qualification amendments to add new series, and other reports, as required.

**Q: What expenses are paid by Freeport Services, and what costs will be paid by each series?**

A: As the Manager of the individual series, Freeport Services will cover all expenses related to the management of the physical asset (e.g., insurance, storage, shipping, and maintenance) as well as expenses related to professional services (e.g., legal, audit, accounting, and tax). Freeport Services will also cover all marketing expenses. Expenses tied directly to generating the offering (e.g., broker/dealer, tokenization, escrow fees, preparation of the offering circular, and transfer agent due diligence) will be included in the offering price, up to a stated limit, and are payable by each series.

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**Q: Does investment in a particular series give me rights to any other offerings on Freeport?**

A: No. For instance, an investment in Series Warhol AWMICKEY will only give you an ownership interest in Series Warhol AWMICKEY. No additional rights in other series offerings or Freeport or Abstract Ventures will be bestowed upon an investor in Series Warhol AWMICKEY .

**Q: What tax information should I expect to receive and when will I receive it?**

A: On an annual basis, investors may receive a Form 1099 if they have taxable activities (e.g., dividends, capital gains, etc.).

**Q: Will I be able to sell my shares prior to Freeport selling the physical artwork?**

A: Freeport plans to establish a secondary marketplace for each offering on its platform. However, no such market exists yet, and even when it does, there is no guarantee that the secondary market will experience ample liquidity to sell shares. The ability to sell shares should not be relied upon.

**Q: How does Freeport fractionalize artwork?**

A: Fractionalization is a multi-step process. First, Freeport Holdings Series, LLC purchases a piece of physical artwork on behalf of the respective series. Next, Freeport assigns the physical artwork as the primary asset of the series. Shares in each series are then authorized, as well as corresponding tokens on the blockchain that are digital representations of the shares. The shares are then prepared for public offering under Regulation A and sold to the public on www.freeport.app. For clarity, the tokens themselves do not confer rights to investors, they are only representations of the series interests.

**Q: What is blockchain technology?**

A: Blockchain technology is a distributed ledger of transactions across a peer-to-peer network. Transactions can be confirmed through the use of "smart contracts," meaning transactions can be confirmed automatically when specified criteria are met. Blockchain technology is relatively early in its adoption cycle.

**Q: How can I ensure my investment is safe if you're utilizing a new technology?**

A: The tokens are simply a representation of ownership of shares in the corresponding series. All transactions will not only be confirmed on the blockchain, but also through traditional means with registered service providers such as transfer agents. If a token happened to be lost, stolen, or otherwise compromised, an investor would have the ability to contact Freeport, and replacement tokens could be issued. Loss of tokens does not mean loss of rights in the investment, which is based on ownership of the shares, not the tokens.

**Q: What are the benefits of the tokens living on the blockchain?**

A: The benefits of the tokens living on the blockchain are still evolving at this time and will be subject to partnerships developed by Freeport and the overall rate of adoption of blockchain technology by the general public. Currently, blockchain allows for the share ownership to be represented in a visual format that may enhance the ownership experience. While we may not be able to create additional functionality, as future use cases become available, we will inform investors through the contact information provided with their subscription for the shares.

**Q: What blockchain houses the tokens?**

A: Freeport Holdings Series, LLC tokens will live on the Ethereum blockchain.

**Q: Can an investor withdraw tokens to a self-custodied wallet?**

A: Tokens will eventually be withdrawable to a self-custodied wallet (e.g. Metamask), however this feature may occur some months after launch. In the self-custodied wallet, series tokens will be able to interact with other tokens on the Ethereum blockchain. However, series tokens will not be able to be sold, transferred, staked or exchanged on any external platform such as a decentralized exchange, unless such exchange is appropriately registered with the SEC as an alternative trading system or securities exchange. Tokens can only be transacted on the secondary market provided by a registered alternative trading system, which will be accessible via <u>www.freeport.app,</u> or through smart contracts developed by Freeport and its partners.

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**RISK FACTORS**

*The SEC requires our company to identify risks that are specific to its business and its financial condition. The company is still subject to all the same risks that all companies in its line of business, and all companies in the economy, are exposed to. These include risks relating to economic downturns, political and economic events and technological developments (such as hacking and the ability to prevent hacking). Additionally, early-stage companies are inherently riskier than more developed companies. You should consider general risks as well as specific risks when deciding whether to invest.*

 

**Risks Relating to Our Company's Operations and Structure**

***An investment in an offering constitutes only an investment in a particular series and not in our company or the underlying assets.***

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A purchase of our series' shares does not constitute an investment in either our company or the underlying assets directly. This results in limited voting rights of the investor, which are solely related to the series. Investors will have voting rights only with respect to certain matters, primarily relating to amendments to the operating agreement that would adversely change the rights of the interest holders and removal of our Manager. The Manager thus retains significant control over the management of our company and its underlying assets. Furthermore, because the shares do not constitute an investment in our company as a whole, holders of a particular series of shares will not receive any economic benefit from, or be subject to the liabilities of, the assets of any other series. In addition, the economic interest of a holder in a series will not be identical to owning a direct undivided interest in the underlying assets because, among other things, the series will be required to pay expenses before distributions are made to the holders, and the Curator will receive a fee in respect of sourcing a purchaser for the asset.

***We are a brand-new company with no operating history, which may make it difficult for investors to evaluate our business model and to assess our future viability.***

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We are a newly formed series limited liability company with no operating history upon which an evaluation of our past performance and future prospects of a series. Our operations to date have been limited to organizing our company, identifying the Manager and Curator, and engaging in activities related to this offering. No guarantee can be given that our company or a series will achieve their investment objectives, the value of the underlying assets will increase or the underlying assets will be successfully monetized.

***The offering amount may exceed the value of the underlying assets and if the underlying assets are sold before they appreciate or generate income, then investors will not receive the amount of their initial investment back.***

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The size of an offering will exceed the purchase price of the related underlying assets as at the date of such offering (as the proceeds of the offering in excess of the purchase price of the underlying assets will be used to pay fees to the Curator). If the underlying assets had to be sold and there had not been substantial appreciation of the underlying assets prior to such sale, there may not be sufficient proceeds from the sale of the underlying assets to repay investors the amount of their initial investment (after first paying off any liabilities owed by the series) or any additional profits in excess of this amount.

***Operating Expenses that are incurred after each closing will dilute investor interest in potential distributions, if any, and the potential return on investment resulting from the appreciation of the underlying assets, if any.***

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Each series will incur expenses to our Manager to be paid through the issuance of additional shares to our Manager equal to 1.5% of the outstanding shares of that series on an annual basis. The Manager will be responsible for appraisal fees, research fees, storage fees, insurance fees, etc. of each series, reducing the cash expense of each series. We do not expect the series to have any expenses other than the Management Fee payable in equity. However, as additional equity interests are issued to the Manager, your ownership in the series will be diluted. In the event that the series is able to make a distribution following liquidation of the asset, your pro rata share will be reduced by the amount of equity that has been issued for the Management Fee.

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***The success of any series depends in large part upon our Manager and its ability to execute our business plan.***

The successful operation of our series is in part dependent on the ability of our Manager to effectively manage the underlying assets. Currently, Freeport Services, LLC is designated as the manager for the company and for each series. Freeport Services, LLC has only been in existence since June 17, 2022 and has no significant operating history within the collectible artwork sector that would evidence an ability to source and manage and the underlying assets of the applicable series. If our Manager cannot effectively manage the underlying assets of each series, investors may not receive the expected returns on their investment. Our Manager also may face challenges in adjusting to management requirements associated with the anticipated number of assets we intend to acquire across series. If Freeport Services, LLC cannot effectively scale-up its operations to assist with these increased needs, our business, and therefore your investment, may suffer.

***Each series of our company is expected to invest only in the related underlying assets; therefore, your investment will not be diversified and will appreciate or depreciate based on the value of the underlying assets regardless of market conditions.***

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It is not anticipated that any series would own any assets other than its specific underlying asset, plus potential cash reserve available for making loans to series member, and amounts earned by the specific series from the monetization of the underlying asset, if any. Investors looking for diversification will have to create their own diversified portfolio by investing in other opportunities in addition to the interests offered hereby.

***Our series will generally not pay any distributions until a liquidation event.***

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The series will generally not make distributions until it sells the underlying asset, meaning that investors will only generally receive distributions upon a liquidation event. Upon such an event, investors will only receive payments after payment of fees to the Curator. At which point, investors will receive a pro rata distribution of cash received upon liquidation of the asset.

***Any adverse changes in the financial health of our Manager and its affiliates could hinder a series' operating performance and the return on your investment.***

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Currently for all our series, Freeport Services, LLC is the Manager. The Manager of our series has been delegated the responsibilities to manage the operations and asset of that particular series. Our ability to achieve our investment objectives and to pay distributions is dependent upon the performance of the Manager of these series and its affiliates as well as the professionals relied on by the Manager in the management of the asset of a series. Any adverse changes in the financial condition of the Manager of a series could hinder their ability to successfully manage the operation and portfolio of that series, negatively impacting your investment in that series.

**Risks Related to Assets of our Series**

***The underlying assets were selected based on the opinions of the Curator. There is no guarantee the Curator will be successful in selecting assets that will generate returns.***

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The criteria used by the Curator of the series to select the underlying assets is subjective in nature. There is no guarantee that the asset underlying each of the series will generate any returns for investors.

***The asset classes for our underlying assets are hard to value and any valuations obtained are not guarantees of realizable price.***

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The asset classes for our artworks can be difficult to value. We will strive to obtain proper valuations of the underlying assets based on quantifiable data (e.g., market performance, previous sales history, etc.) – however, valuations will also be based on subjective opinions of experts and the Curator of our series, which may be inaccurate. As relevant, our Curator will strive to source data from reputable valuation providers in the relevant industry; however, it may rely on the accuracy of the underlying data without any means of detailed verification. Consequently, valuations may be uncertain.

The value of the underlying assets can go down as well as up. Valuations are not guarantees of realizable price, do not necessarily represent the price at which our shares may be sold. The value of the underlying assets may be materially affected by a number of factors outside of our control, including, any volatility in the economic markets and the condition of the underlying assets.

***Title or authenticity claims on an underlying asset may diminish value of the underlying asset, as well as the series that relates to such underlying asset.***

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There is no guarantee that an underlying asset will be free of any claims regarding title and authenticity (e.g., counterfeit or previously stolen artworks), or that such claims may arise after acquisition of an underlying asset by a series. We may not have complete ownership history or restoration and repair records for an underlying asset. The underlying assets of our series will generally be originally sourced from individuals and entities that the Curator of such series believes to have developed reputations in their respective areas, including sellers of collectable artwork. Based on the reputations of those individuals and entities, our Curator then relies on those individuals and entities regarding the authenticity and ownership claims without undertaking an independent review of such claims. In the event of a title or authenticity claim against us, we may not have recourse against the asset seller or the benefit of insurance, and the value of the underlying asset and the series related to such underlying asset may be diminished.

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***If we are unable to liquidate an underlying asset at a time when we desire to do so or at all, investors may not receive any return on their investment and may lose their entire investment. Further, we may have to hold on to underlying assets for a long period of time, which may not be suitable for some investors.***

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Our strategy is to acquire underlying assets, hold such assets for a period of time and then sell such assets at a premium over our acquisition price so that investors in our series can make a return on their investment. We anticipate holding collectable artworks on average between three to seven years. If we are unable to sell an underlying asset at a time when we desire to do so or at all, we may not be able to realize a return on that investment or lose that investment altogether. Further, we may end up holding our underlying assets for a long period of time before we are able to monetize (i.e. sell) such assets, which could result in long periods of time in which investors do not realize returns on their investments. This may make an investment in any of those series unsuitable for investors that cannot withstand such long holding periods.

***Potential loss of or damage to an underlying asset could adversely impact the value of the underlying asset, the series related to the underlying asset, or the likelihood of any distributions made by us to investors.***

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Our underlying assets may be lost or damaged by causes beyond our reasonable control when in storage or in transit. In general, any damage to our underlying assets could result in the loss of value of the underlying asset, and for certain assets, it may be a complete loss of value. In the event of any claims against our insurance policies, there can be no guarantee that any losses or costs will be reimbursed, that the underlying assets can be replaced on a like-for-like basis or that any insurance proceeds would be sufficient to pay the full market value of the damaged asset. Such an occurrence would negatively affect the value of the series related to those such asset or assets, as well as the likelihood of any distributions being made by us to the investors.

***Competition in the collectible artwork industry from other business models may make it difficult to obtain underlying assets.***

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There is potentially significant competition for the underlying assets from many different market participants. While the majority of transactions continue to be peer-to-peer with very limited public information, other market players, such as luxury good dealers and auction houses, continue to play an increasing role. This competition may impact the liquidity of a series, as it is dependent on our acquiring attractive and desirable underlying assets to ensure that there is an appetite of potential investors for the interests. In addition, there are companies that have developed and are developing crowdfunding models to enter this market.

***Restoration or repair of an underlying asset may result in a decrease in the value of the underlying asset.***

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Although we do not intend to undertake restoration or repair of the underlying assets, there may be situations in the future that we are required to do so (e.g., due to natural wear and tear and through the use of the underlying assets). When we do so, we will be dependent on the performance of third-party contractors and sub-contractors and may be exposed to the risks that a project will not be completed within budget, within the agreed timeframe or to the agreed specifications. While we will seek to mitigate our exposure by negotiating appropriate contracts, including appropriate warranty protection, any failure on the part of a contractor to perform its obligations could adversely impact the value of the underlying assets and, therefore, the value of the series related to such underlying assets.

In addition, the successful restoration or repair of the luxury goods may be dependent on sourcing replacement original and authentic paint or parts. Original paint or parts for collectable artworks are rare and in high demand and, therefore, at risk of being imitated. There is no guarantee that any paint or parts sourced for the underlying assets will be authentic (e.g., not a counterfeit). If such paint or parts cannot be sourced or those paints or parts that are sourced are not authentic, the value of the underlying assets and, therefore, the value of the series related to such underlying assets may be materially adversely affected. Furthermore, if an underlying asset is damaged, we may be unable to source original and authentic paint or parts for the underlying asset, and the use of non-original and authentic paint or parts may decrease the value of the underlying asset.

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***Insurance may not cover all losses, which may result in an operating loss and likelihood that distributions will not be made by us.***

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Insurance of the underlying assets may not cover all losses. There are certain types of losses, generally of a catastrophic nature, such as earthquakes, floods, hurricanes, terrorism or acts of war, that may be uninsurable or not economically insurable. Inflation, environmental considerations and other factors, including terrorism or acts of war, also might make insurance proceeds insufficient to repair or replace an asset if it is damaged or destroyed. Under such circumstances, the insurance proceeds received might not be adequate to restore our economic position with respect to any affected underlying assets. Furthermore, the series related to such affected underlying assets would bear the expense of the payment of any deductible. Any uninsured loss could result in both loss of cash flow from and the value of the affected underlying assets and, consequently, the series that relate to such underlying assets.

***We may be associated with third-party liability and exposed to reputational harm as a result of wrongful actions by certain third parties.***

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Each series will assume all of the ownership risks attached to its underlying assets, including third-party liability risks. Therefore, the series may be liable to a third party for any loss or damages incurred by it in connection with its underlying assets. This would be a loss to our company and, therefore, deductible from any income or capital proceeds payable in respect of the series from the related underlying assets, in turn adversely affecting the value of the series to which the underlying assets relate and the likelihood of any distributions being made by us.

***We could be exposed to losses and/or reputational harm as a result of various claims and lawsuits incidental to the ordinary course of our business.***

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We may become involved in various legal proceedings, lawsuits and other claims incidental to the ordinary course of our business. We are required to assess the likelihood of any adverse judgments or outcomes in these matters, as well as potential ranges of probable or reasonably possible losses. A determination of the amount of losses, if any, to be recorded or disclosed as a result of these contingencies will be based on a careful analysis of each individual exposure with, in some cases, the assistance of outside legal counsel. The amount of losses recorded or disclosed for such contingencies may change in the future due to new developments in each matter or a change in settlement strategy.

***The value of the underlying assets may depend on a prior owner or association and, therefore, may be out of our control.***

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The value of an underlying asset may be connected with its prior ownership by, or association with, a certain person or group or in connection with certain pop culture events or films. In the event that such person or group loses public affection, then this may adversely impact the value of the underlying asset and, therefore, the series that relates to such underlying asset.

**Risks Associated with an Investment in Artwork**

***There is no assurance of appreciation of the asset or sufficient cash distributions resulting from the ultimate sale of the asset.***

There is no assurance that the asset will appreciate, maintain its present value, or be sold at a profit. The marketability and value of the asset will depend upon many factors beyond our control. There can be no assurance that there will be a ready market for the asset, since investment in artwork is generally illiquid, nor is there any assurance that sufficient cash will be generated from the sale of the asset to compensate investors for their investment. Even if the asset does appreciate in value, the rate of appreciation may be insufficient to cover the liabilities of the series.

***The value of artwork is subjective.***

The value of the asset is inherently subjective given its unique character. The future realizable value of a fine artwork may differ widely from its estimated or appraised value for a variety of reasons, many of which are unpredictable and impossible to discern. In addition, the net realizable value to a seller at auction is often significantly lower than the published sale price because the net proceeds are typically reduced by all or a portion of the buyer's premium and there may also be a sales commission.

For non-cash generating assets, such as fine art, valuation is heavily reliant on an analysis of sales history of similar artwork. Experts often differ on which historical sales are comparable and the degree of comparability. The attempt to discern value from historical sales data is extremely challenging for a variety of reasons, including, without limitation:

● *Qualitative Factors*. Differences in perceived quality or condition between the subject work and the so-called "comparable" sale. Perceived differences in the physical quality and condition of the respective works require subjective judgements as to the valuation impact attributable to such differences.

● *Lack of Reliable Data*. Data from non-auction sales, comprising a majority of all sales, is largely unavailable and historical sales data may be inaccurate. Also, data may be stale or unavailable to the public because comparable works may remain off market for extended periods of time, often for generations. Even for public auctions, sale prices may be incorrectly reported due to credits for guarantees entered into with buyers (though under current rules in certain jurisdictions, these are required to be deducted from the reported sale price), or other credits provided to potential buyers.

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● *Idiosyncratic Factors*. Idiosyncratic motivations of a buyer or seller may significantly affect the sale price. These motivations may relate to an emotional attachment to the work, ego, financial, estate or tax planning objectives, the desire to enhance or complete a specific collection objective, perceptions of supply and scarcity and other factors.

● *Timing Differences.* Historical transactions must be viewed in light of market conditions at the time compared to current conditions. Overall market conditions are difficult to track in recent periods and extremely difficult to discern for historical periods. Harder still, is the ability to track the relative popularity of specific works, artists and genres over historical periods.

● *Market Depth*. Sale prices only reflect the price a single buyer was willing to pay for a work, so it is very difficult to determine the depth of demand, as defined by the number of potential buyers that are ready, willing and able to purchase an artwork at or below a given price level.

● *Entanglements*. It is not uncommon in the art market for buyer, sellers and intermediaries to enter into private contractual arrangements that may affect the selling price in a specific transaction. It is often impossible to know of the existence or terms of any such contractual arrangements.

Accordingly, due to the inherent subjectivity involved in estimating the realizable value of the asset, any appraisal or estimate of realizable value may prove, with the benefit of hindsight, to be different than the amount ultimately realized upon sale and such differences can be, and often are, material.

***Since the valuation of high-end artwork relies in large part on an analysis of historical auction sales, it is more difficult to accurately determine fair value of artwork by artists that have fewer auction sales.***

Certain artists such as Andy Warhol and Pablo Picasso have a relatively large global collector base and a well-established track record of auction sales over a lengthy period. These artists were also extremely prolific during their careers, so their artwork is frequently bought and sold at auction. This relatively large volume of data makes estimates of historical pricing trends and fair value ranges for artwork produced by these artists more reliable. By contrast, valuation of works by other artists who have a smaller collector base and or a shorter track record of auction sales is comparatively more difficult and such assessments are generally prone to wider margins of error. When assessing the historical auction performance of artwork by a particular artist, investors are urged to consider the volume of public auction data available. As a general matter, historical pricing trends and fair value estimates are more likely to be more accurate for artists with higher volumes of prior auction sales than pricing trends and estimates for artists that have fewer historical auction sales. Accordingly, there is a higher risk that we may overpay for, or misprice, artwork by artists with fewer auction sales than those with higher volumes of prior auction sales.

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***An investment in the asset is subject to various risks, any of which could materially impair the value of the asset and the market value of our interests.***

Investing in artwork is subject to the following risks:

● *Authenticity*. Claims with respect to the authenticity of a work may result from incorrect attribution, uncertain attribution, lack of certification proving the authenticity of the artwork, forgery of a work of art, or falsification of the artist's signature. We generally obtain representations of authenticity from sellers, but these representations may not effectively eliminate the risk.

● *Provenance*. Claims related to provenance, or history of ownership, are relatively common and allege that an artwork has an uncertain or false origin. Buyers may also negatively perceive some elements of the prior ownership history, or whether the work is considered to have sold too often in the past. With respect to the asset, buyers may negatively perceive our ownership in the asset when considering a purchase.

● *Condition*. The physical condition of an artwork over time is dependent on technical aspects of artistic workmanship, including the materials used, the manner and skill of application, handling and storage and other factors.

● *Physical Risks*. Artwork is subject to potential damage, destruction, devastation, vandalism or loss as a result of natural disasters (flood, fire, hurricane), crime, theft, illegal exportation abroad, etc.

● *Legal Risks.* Artwork ownership is prone to a variety of legal challenges, including challenges to title, nationalization, purchase of work of art from unauthorized person, risk of cheating, money laundering, violation of legal regulations and restitution issues. Purchasing from major auction houses and reputable galleries can reduce, but not eliminate these risks.

● *Market Risks.* The art market is prone to change due to a variety of factors, including changes in transaction costs, substantial changes in fees, tax law changes, export licenses etc., changes in legal regulations, changes in attitudes toward art as an investment, changes in tastes, trends (fashion) and changes in supply, such as the liquidation of a major collection. These risks can be specific to certain geographies.

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● *Economic Risks.* Art values and demand are affected by economic confidence among ultra-high-net-worth individuals.

● *Fraud Risk*. The art market is unregulated and prone to abusive practices, including price manipulation, disguised agencies and lack of transparency.

***If the asset is eventually displayed in a gallery space or other location, it could be damaged, and insurance may not cover all of the damages, or even if insurance does cover the damages, it may cause the painting to be unsaleable.***

It is planned that the asset will be permanently stored and displayed in the United States, though it might be displayed internationally. We plan to obtain and maintain insurance coverage for the asset. However, the painting may be damaged while being displayed and our insurance may not be able to cover all of the damages resulting therefrom, and even if insurance does cover such damages, the damages may result in the asset being unsaleable. Accordingly, damage or destruction of the asset will have a material adverse impact on the value of the asset and, consequently, the value of the shares.

***We may not be able to find a buyer for the asset at a reasonable price.***

Art is a highly illiquid asset and a significant percentage of objects go unsold when sent to auction. Even in the event that we attempt to sell the asset, we cannot guarantee that there will be a buyer at any reasonable price. Additionally, if the asset does go to an auction sale and is not sold, such failure could damage the reputation of the asset in the marketplace and make it even more difficult to sell in the future.

***The asset could be subject to damage, theft, or deterioration in condition, which could have a material adverse effect on the value of the asset.***

We plan to store the asset in a protected environment with security measures, but no amount of security can fully protect a painting from damage or theft. The damage or theft of valuable property, despite these security measures, could have a material adverse impact on the value of the asset and, consequently, the value of our interests. While we intend to maintain insurance for the asset, there is no guarantee that such coverage would be adequate to mitigate all such losses.

***Industry sales cycles can be unpredictable.***

Purchase behavior by collectors is generally unpredictable due primarily to the discretionary nature, relative scarcity and high values of art purchases. An art buyer may typically purchase art when excess liquidity is abundant. When economic conditions preclude art collectors from purchasing the asset, such a downturn in sales will affect our ability to sell the asset. Additionally, many art buyers have significant access to credit to facilitate the purchase of artwork and any changes which would cause art collectors to not access credit could have a serious impact on a collector's ability to purchase the Artwork.

**Risks Related to Potential Conflicts of Interest**

***Management Compensation***

 ****

None of the compensation set forth under "Management Compensation" was determined by arms' length negotiations, including the Management Fee, Sourcing Fee, and Disposition Fee. It is anticipated that the commissions and profits received by the Manager and Curator may be higher or lower depending upon market conditions.

***Our Series Operating Agreement contains provisions that reduce or eliminate duties (including fiduciary duties) of our Manager.***

 ****

Our Series Operating Agreement provides that our Manager will have no fiduciary duties or obligations to the company or the members and will not be subject to any different standards imposed by our operating agreement, the Delaware Limited Liability Company Act (the "LLC Act") or under any other law, rule or regulation or in equity. These modifications of fiduciary duties are expressly permitted by Delaware law.

**Risks Relating to the Offering and Ownership of Our Series Shares**

**We intend to have our securities quoted on an alternative trading system ("ATS"), and there can be no assurances that any public market will ever develop; even if developed, trading is likely to be subject to significant price fluctuations.**

It is the company's intention to have its securities quoted on an ATS. Currently, no trading market exists and there are no assurances that any will develop. Consequently, there can be no assurances as to whether:

● any market for shares in any series will develop;

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● the price at which shares for a series will trade; or

● the extent to which investors in us will lead to the development of an active, liquid trading market.

Active trading markets generally result in lower price volatility and more efficient execution of buy and sell orders for investments. Until an orderly market develops in the shares of any series, if ever, the price at which they trade is likely to fluctuate significantly. Prices for shares in a series will be determined in the marketplace and may be influenced by many factors, including the depth and liquidity of the market for those shares, developments affecting our business, including the impact of the factors referred to elsewhere in these risk factors, investor perception of our company and a particular series and general economic and market conditions. No assurances can be given that an orderly or liquid market will ever develop for the shares of a series. We cannot assure you that trading prices for shares of a particular series will not be significantly lower than the price at which such securities are sold in this offering.

***Investors in this offering may not be entitled to a jury trial with respect to claims arising under our subscription agreement, which could result in less favorable outcomes to the plaintiff(s) in any action under the operating agreement or subscription agreement.***

 ****

Investors in this offering will execute a subscription agreement under which investors waive the right to a jury trial of any claim they may have against our company arising out of or relating to the subscription agreement. By subscribing to an offering of a series, the investor signs the subscription agreement by which the investor agrees to adhere to the operating agreement, under both of which such investor waives their right to our jury trial.

If we opposed a jury trial demand based on this waiver, a court would determine whether such waiver was enforceable based on the facts and circumstances of that case in accordance with the applicable state and federal law. To our knowledge, the enforceability of a contractual pre-dispute jury trial waiver in connection with claims arising under the federal securities laws has not been finally adjudicated by a federal court. However, we believe that a contractual pre-dispute jury trial waiver provision is generally enforceable, including under the laws of the State of Delaware, which govern the subscription agreement. In determining whether to enforce a contractual pre-dispute jury trial waiver provision, courts will generally consider whether the visibility of the jury trial waiver provision within the agreement is sufficiently prominent such that a party knowingly, intelligently and voluntarily waived the right to a jury trial. We believe that this is the case with respect to the subscription agreement. You should consult legal counsel regarding the jury waiver provision before investing in this offering.

If you bring a claim against our company in connection with matters arising under the subscription agreement, including claims under federal securities laws, you may not be entitled to a jury trial with respect to those claims, which may have the effect of limiting and discouraging lawsuits against our company. If a lawsuit is brought against our company under the subscription agreement, it may be heard only by a judge or justice of the applicable trial court, which would be conducted according to different civil procedures and may result in different outcomes than a trial by jury would have had, including results that could be less favorable to the plaintiff(s) in such an action.

Nevertheless, if this jury trial waiver provision is not permitted by applicable law, an action could proceed under the terms of the agreement with a jury trial. No condition, stipulation or provision of the either agreement serves as a waiver by any investor or by our company of compliance with any substantive provision of the federal securities laws and the rules and regulations promulgated under those laws.

In addition, when the shares are transferred, the transferee is required to agree to all the same conditions, obligations and restrictions applicable to the shares or to the transferor with regard to ownership of the shares, that were in effect immediately prior to the transfer of the shares, including but not limited to those in the subscription agreement.

 ***Our subscription agreement has a forum selection provisions that require that certain disputes be resolved in the Court of Chancery of the State of Delaware, regardless of convenience or cost to investors*.**

Under our subscription agreement, investors are required to resolve disputes related to the subscription agreement in the Court of Chancery located in the State of Delaware. The forum selection provision in our subscription agreement applies to all actions or proceedings relating to the subscription agreement.

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The forum selection provisions in our subscription agreement may limit shareholders' ability to obtain a favorable judicial forum for disputes with us regarding the subscription agreement. The requirement that any action be heard in the Chancery Court of Delaware, or alternatively in a competent court in the State of Delaware, if applicable, may also create additional expense for any person contemplating an action against our company, or limit the access to information to undertake such an action, further discouraging lawsuits.

It is also possible that, notwithstanding the forum selection clauses included in our subscription agreement, a court could rule that such provisions are inapplicable or unenforceable. Alternatively, if a court were to find the provision inapplicable to, or unenforceable in, an action, we may incur additional costs associated with resolving such matters in other jurisdictions, which could adversely affect our business, financial condition or results of operations.

In addition, when the shares are transferred, the transferee is required to agree to all the same conditions, obligations and restrictions applicable to the shares or to the transferor with regard to ownership of the shares, that were in effect immediately prior to the transfer of the shares, including but not limited to those in the subscription agreement.

***If our series limited liability structure is not respected, then investors may have to share in any liabilities of our company with all investors and not just those who hold the same series of interests as them.***

 ****

Our company is structured as a Delaware series limited liability company that issues different series of interests for each underlying asset or group of underlying assets. Each series of interest will merely be a separate series and not a separate legal entity. Under the LLC Act, if certain conditions (as set forth in Section 18-215(b) of the LLC Act) are met, the liability of investors holding one series of interests is segregated from the liability of investors holding another series of interests and the assets of one series of interests are not available to satisfy the liabilities of other series of interests. Although this limitation of liability is recognized by the courts of Delaware, there is no guarantee that if challenged in the courts of another U.S. state or a foreign jurisdiction, such courts will uphold a similar interpretation of Delaware corporation law, and in the past certain jurisdictions have not honored such interpretation. If our series limited liability company structure is not respected, then investors may have to share any liabilities of our company with all investors and not just those who hold the same series of interests as them. Furthermore, while we intend to maintain separate and distinct records for each series of interests and account for them separately and otherwise meet the requirements of the LLC Act, it is possible a court could conclude that the methods used did not satisfy Section 18-215(b) of the LLC Act and thus potentially expose the assets of a series to the liabilities of another series of interests. The consequence of this is that investors may have to bear higher than anticipated expenses which would adversely affect the value of their interests or the likelihood of any distributions being made by the series to the investors. In addition, we are not aware of any court case that has tested the limitations on inter-series liability provided by Section 18-215(b) in federal bankruptcy courts and it is possible that a bankruptcy court could determine that the assets of one series of interests should be applied to meet the liabilities of the other series of interests or the liabilities of our company generally where the assets of such other series of interests or of our company generally are insufficient to meet our liabilities.

***Possible changes in federal/local tax laws or the application of existing federal/local tax laws may result in significant variability in our results of operations and tax liability for the investor.***

 ****

The Internal Revenue Code of 1986, as amended, is subject to change by Congress, and interpretations may be modified or affected by judicial decisions, by the Treasury Department through changes in regulations and by the Internal Revenue Service through its audit policy, announcements, and published and private rulings. Although significant changes to the tax laws historically have been given prospective application, no assurance can be given that any changes made in the tax law affecting an investment in any series of shares of our company would be limited to prospective effect. Accordingly, the ultimate effect on an investor's tax situation may be governed by laws, regulations or interpretations of laws or regulations which have not yet been proposed, passed or made, as the case may be.

Furthermore, investors may reside in various tax jurisdictions throughout the world. Failure to assess or pay the correct amount of tax on a transaction may expose us to claims from tax authorities.

***Using a credit card to purchase shares may impact the return on your investment as well as subject you to other risks inherent in this form of payment.***

Investors in this offering have the option of paying for their investment with a credit card, which is not usual in the traditional investment markets. Transaction fees charged by your credit card company (which can reach 5% of transaction value if considered a cash advance) and interest charged on unpaid card balances (which can reach almost 25% in some states) add to the effective purchase price of the shares you buy. See "Plan of Distribution." The cost of using a credit card may also increase if you do not make the minimum monthly card payments and incur late fees. Using a credit card is a relatively new form of payment for securities and will subject you to other risks inherent in this form of payment, including that, if you fail to make credit card payments (e.g. minimum monthly payments), you risk damaging your credit score and payment by credit card may be more susceptible to abuse than other forms of payment. Moreover, where a third-party payment processor is used, as in this offering, your recovery options in the case of disputes may be limited. The increased costs due to transaction fees and interest may reduce the return on your investment.

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The SEC's Office of Investor Education and Advocacy issued an Investor Alert dated February 14, 2018 entitled: Credit Cards and Investments – A Risky Combination, which explains these and other risks you may want to consider before using a credit card to pay for your investment.

***Investors paying with digital assets may incur fees as a result of utilizing digital assets for payment.***

Investors in this offering have the option of paying for their investment with digital assets. Upon payment for the securities in this offering, the value of these digital assets will be exchanged for US dollars or a stablecoin, such as USDC. It is possible that digital wallet services holding digital assets for investors may charge fees as a result of entering the transaction to purchase our securities. To the extent that any fees are charged, the increased costs may reduce the return on your investment.

 ***Investors*** that subscribe to the offering utilizing digital assets for payment will rely on the Company for establishing the value of the digital assets in fiat currency.

When an investor subscribes to our offering using digital assets, we intend to convert those digital assets to fiat currency at the time of the subscription. The conversion rate will be based on exchange rates publicly posted by recognized, third-party digital asset exchanges, and investors will be notified of the applicable exchange rate prior to making an investment. Investors will be relying on the Company to correctly apply these exchange rates to their investment when made with digital assets. Further, if in the event we do not reach the minimum investment for any particular series, investments will be refunded to investors. Investors have the choice of receiving the refund in fiat currency or digital assets, again using the exchange rates publicly posted by recognized digital asset exchanges. As the digital asset exchange rates will be determined as of the date and time of the refund, investors are subject to the risks associated with fluctuating exchange rates. In addition, while funds are held in escrow, investors will not realize any appreciation in value of the digital assets against fiat currency, if any.

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**DILUTION**

Under our operating agreement, we have authority to create an unlimited number of additional shares or other securities in each series. However, we intend to only authorize a sufficient number for each series offering, and for 15 years of Management Fees payable to our Manager. After your investment in this offering, the Manager may elect to: (i) sell additional shares in this or future public offerings (whether on Form 1-A or otherwise), (ii) issue equity interests in private offerings or (iii) issue shares for payment as compensation to our Manager or third-parties. To the extent we issue additional shares in a series after your purchase shares of that series in this offering, your percentage ownership interest in that series will be diluted. In addition, depending upon the terms and pricing of any additional offerings and the value of our investments, you could also experience dilution in the book value and fair value of your shares.

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**PLAN OF DISTRIBUTION**

**Plan of Distribution**

We are offering, on a best efforts basis, the shares (consisting of membership interests) of each of the series of our company in the "Series Offering Table" beginning on page 1 of this Offering Circular. The offering price for each series was determined by our Manager.

The minimum subscription by an investor is listed in the "Series Offering Table".

There will be a separate closing with respect to each offering. The closing of an offering will occur on the earliest to occur of (i) the date subscriptions for the maximum number of shares offered for a series have been accepted or (ii) a date determined by our Manager in its sole discretion, provided that subscriptions for the minimum number of shares offered for a series have been accepted. If closing has not occurred, an offering shall be terminated upon (i) the date which is sixty days from the date such offering circular or amendment thereof, as applicable, is qualified by the Commission, which period may be extended with respect to a particular series by the Manager in its sole discretion, or (ii) any date on which our Manager elects to terminate the offering for a particular series in its sole discretion. In the case where the company enters into a purchase option agreement, an offering may never be launched, or a closing may not occur, in the case the company does not exercise the purchase option before the purchase option agreement's expiration date, or the expiration date is not extended.

Our Manager and its affiliates, partners and/or related parties may purchase shares offered in a series' offering for the same price as all other investors, subject to the same minimum and maximum investment thresholds as other investors in that offering, although such minimum and maximum thresholds may be waived or modified by our Manager in its sole discretion.

The company's Offering Circular will be furnished to prospective investors in this offering via download 24 hours a day, 7 days a week on the www.freeport.app website.

**Broker**

Dalmore Group, LLC is acting as our executing broker in connection with the sale of our interests pursuant to a Broker-Dealer Agreement. Pursuant to the agreement, the Broker's role in the offering is limited to serving as the broker of record, including processing transactions of potential investors and providing investor qualification recommendations (e.g., "Know Your Customer" and anti-money-laundering checks) and coordinating with third-party providers to ensure adequate review and compliance. The Broker will have access to the subscription information provided by investors and will serve as broker of record for each offering by processing transactions by investors through the platform technology. The Broker will not solicit any investors on our behalf, act as underwriter or provide investment advice or investment recommendations to any investor.

The Broker is a broker-dealer registered with the Commission and a member of FINRA and SIPC and will be registered in each state where each offering and sale of interests will occur, prior to the launch of each offering. The Broker will receive the Brokerage Fee but will not purchase any interests and, therefore, will not be eligible to receive any discounts, commissions or any underwriting or finder's fees in connection with any offering.

We agreed to indemnify the Broker and each of its affiliates and their respective representatives and agents for any loss, liability, judgment, arbitration award, settlement, damage or cost (which we refer to as losses) incurred in any third-party suit, action, claim or demand (which we refer to, collectively, as a proceeding) arising out of our breach of any provision of the Broker-Dealer Agreement, our wrongful acts or omissions or this offering to the extent not based upon a breach of the agreement by the Broker and/or the wrongful acts or omissions of the Broker or the Broker's failure to comply with any applicable federal, state or local laws, regulators or codes in the performance of its obligations under the agreement. The Broker agreed to indemnify us and each of our affiliates and their and our representatives and agents from any losses arising out of any proceeding arising out of the Broker's breach of the agreement or the wrongful acts or omissions of the Broker or the Broker's failure to comply with any applicable federal, state or local laws, regulators or codes in the performance of its obligations under the agreement.

The Broker-Dealer Agreement has a 12-month term beginning November 2, 2022 and will renew automatically for successive 12- months terms unless either party provides notice of non-renewal at least 60 days prior to the expiration of the then-current term. Additionally, the agreement may be terminated by either party for breach, misrepresentation, failure to comply with legal requirements or insolvency.

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***Brokerage Fee***

As compensation for providing the services described in the Broker-Dealer Agreement to the company in connection with each offering, the Broker will receive a brokerage fee equal to 1% of the amount raised through each offering (which we refer to as the "Brokerage Fee").

Per the Operating Agreement of the company, the Managing Member of each series of interests will be responsible for paying the Brokerage Fee to the Broker on behalf of the company. The Brokerage Fee will be payable immediately upon the closing of each offering.

In addition thereto, on behalf of the company, our Managing Member will pay the Broker the following:

● A one-time consulting fee of $10,000 for the provision of ongoing general consulting services related to this offering (such as coordination with third-party vendors and providing general guidance), which was due and payable following the issuance by FINRA of a no-objection letter.

● A one-time advance payment of $5,000 for out-of-pocket expenses anticipated to be incurred by the Broker, such as costs related to preparing the FINRA filing, due diligence expenses, working with counsel to our manager and our company and other services necessary and required prior to the approval of this offering.

● The FINRA corporate filing fee for this best efforts offering will be $11,750 and will be a pass- through fee payable to the Broker by the Managing Member. The Broker will then forward it to FINRA as payment for the filing.

● Since this Offering involves ongoing filings, the Broker will invoice the Managing Member for the FINRA fee due and the $1,000 1-A POS filing fee prior to each filing. This fee is due and payable prior to any submission by Broker to FINRA. Our Managing Member will not be reimbursed for payment of any such fees or expenses.

**Process of Subscribing**

After the Commission has qualified the offering statement, we will accept tenders of funds to purchase the shares of series of our company. Prospective investors who submitted non-binding indications of interest during the "test the waters" period will receive communications from us indicating that the offering for a particular series is open for investment. Investors will not have any rights to a series prior to a closing and distribution of the series shares.

As the current series being offered have the same minimum and maximum, the company will undertake a single closing for investors for each particular series that has met its minimum. Investors may subscribe by tendering funds by wire, credit, or debit card, ACH transfer, digital assets, or other digital payment types enabled by our processing partner to the escrow account to be set up by the Escrow Agent. Tendered funds will remain in escrow until closing has occurred. Upon closing, funds tendered by investors will be made available to the company for its use.

Investors will be required to complete a subscription agreement in order to invest in a particular series. The subscription is irrevocable by the investor. The subscription agreement includes a representation by the investor to the effect that, if the investor is not an "accredited investor" as defined under securities law, the investor is investing an amount that does not exceed the greater of 10% of his or her annual income or 10% of his or her net worth (excluding the investor's principal residence).

The subscription procedure is summarized as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. Go
 to the company's page on www.freeport.app and click on the relevant purchase button;

&nbsp;&nbsp;&nbsp;&nbsp;2. Complete
 the online investment process, including Know Your Customer (KYC);

&nbsp;&nbsp;&nbsp;&nbsp;3. Deliver
 funds directly by wire, digital assets, debit card, credit card or electronic funds transfer
 via ACH to the specified account;

&nbsp;&nbsp;&nbsp;&nbsp;4. Once
 funds or documentation are received an automated AML check will be performed to verify the
 identity and status of the investor;

&nbsp;&nbsp;&nbsp;&nbsp;5. Once
 AML is verified, investors will electronically receive, review, execute and deliver to us
 a subscription agreement.

The company has entered into an Escrow Services Agreement with North Capital (the "Escrow Agent"). The Escrow Agent is a Delaware registered trust company that offers escrow services as well as an integrated technology platform for processing investment transactions. The company has agreed to pay the Escrow Agent the following:

● Escrow Administration Fee: $575 per crowd funding subscription account

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● Out-of-Pocket Expenses: Billed at cost

● Escrow Amendment: $100.00 per amendment

● Transactional Costs: $100.00 for each additional escrow break

The Managing Member of each series will generally be responsible for fees due to the Escrow Agent, which are categorized as Offering Expenses.

Investor funds will be held by the Escrow Agent pending closing or termination of the offering. All subscribers will be instructed by the company or its agents to transfer funds by wire, digital assets, credit or debit card, or ACH transfer directly to the escrow account established for this offering. The company may terminate the offering for a particular series at any time for any reason at its sole discretion. Investors should understand that acceptance of their funds into escrow does not necessarily result in their receiving shares; escrowed funds may be returned.

The Escrow Agent is not participating as an underwriter or placement agent or sales agent of this offering and will not solicit any investment in the company, recommend the company's securities or provide investment advice to any prospective investor, and no communication through any medium, including any website, should be construed as such, or distribute this Offering Circular or other offering materials to investors. The use of the Escrow Agent's technology should not be interpreted and is not intended as an endorsement or recommendation by it of the company or this offering. All inquiries regarding this offering or escrow should be made directly to the company.

In the event that the company terminates the offering while investor funds are held in escrow, those funds will promptly be refunded to each investor without deduction or interest and in accordance with Rule 10b-9 under the Exchange Act.

**Digital Asset Payments**

Funds delivered via digital asset payments will be subject to additional steps. While investors will be able to make payments with digital assets, those assets will be converted to fiat upon initial delivery of digital assets with their subscription. The value of the digital assets will be based on the dollar value as stated by recognized, third-party digital asset exchanges at the time of the subscription. The dollar value will be communicated to the investor prior to completing the subscription for the series shares. Those funds will then be held in escrow by our Escrow Agent. These additional steps remove the risk of digital asset values fluctuating relative to fiat values and ensure that investors receive exactly the amount of shares they agreed to in their subscription agreement.

In the event that funds are returned because the series offering did not meet its minimum, the amount may be refunded in the same digital asset contributed by the investor, at the option of the investor. Investors may elect to receive the refund in fiat currency via ACH or wire. The value of the refund will be based on the dollar value received by the company following the conversion to fiat currency. Just as the initial investment value was determined based on public exchange rates posted by recognized digital asset exchanges, we will use the same method for determining the exchange rate from fiat back to the chosen digital asset.

**No Selling Security holders**

No securities are being sold for the account of security holders. All net proceeds of this offering will go to the company**.**

**Transfer Agent and Registrar**

The company has engaged Vertalo, a registered transfer agent with the SEC, who will serve as transfer agent to maintain shareholder information on a book-entry basis.

**Provisions of Note in Our Subscription Agreement**

While there is a separate subscription agreement that will be used in connection with each series' offering, the same form of subscription agreement will be used for each series. Our "form" subscription agreement includes forum selection provisions that require any claims against the company based on the subscription agreement not arising under the federal securities laws to be brought in a court of competent jurisdiction in the State of Delaware. These forum selection provisions may limit investors' ability to bring claims in judicial forums that they find favorable to such disputes and may discourage lawsuits with respect to such claims. The company has adopted these provisions to limit the time and expense incurred by its management to challenge any such claims. As a company with a small management team, this provision allows its officers not to lose a significant amount of time traveling to any particular forum so they may continue to focus on operations of the company.

**Jury Trial Waiver**

While there is a separate subscription agreement that will be used in connection with each series' offering, the same form of subscription agreement will be used for each series. Our "form" subscription agreement includes forum selection and jury waiver provisions. See, "Securities Being Offered – Exclusive Jurisdiction" and "Securities Being Offered – Waiver of Right to Trial by Jury" and for more information on these provisions.

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**USE OF PROCEEDS TO ISSUER**

The allocation of the net proceeds of each offering set forth below represents our intentions based upon our current plans and assumptions regarding industry and general economic conditions, our future revenues, if any, and expenditures. The amounts and timing of our actual expenditures will depend upon numerous factors, including market conditions, cash generated by our operations, business developments, and related rate of growth. The Manager reserves the right to modify the use of proceeds based on the factors set forth below.

**Series Warhol AWMICKEY**

The table below sets forth our estimated use of proceeds from this Series Warhol AWMICKEY offering on a fully subscribed basis.

---

| | | |
|:---|:---|:---|
| **Uses** | **Dollar Amount** | **Percentage of Gross**<br> **Cash Proceeds** |
| **Cash Portion of the Asset Cost** | $700000 | 82.1% |
| Broker Dealer Fees <sup>(1)</sup> | $8500 | 1.0% |
| Sourcing Fee <sup>(2)</sup><br>| $70000 | 8.2% |
| Platform Fee <sup>(3)</sup> | $70000 | 8.2% |
| Other Offering Fees <sup>(4)</sup><br>| $4000 | 0.5% |
| **Total Fees and Expenses** | $152500 | 17.9% |
| **Total Proceeds** | $852500 | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Pursuant
 to the series' agreement with our Broker, Broker will receive a sum equal to 1% of
 the total offering amount.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Pursuant
 to the series' agreement with our Curator, our Curator will receive a sum equal to
 10% of the cost of the asset.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Pursuant
 to the series' agreement with our technology provider, our technology provider will
 receive a sum equal to 10% of the cost of the asset.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Other
Offering Fees includes costs associated with professional fees, including legal and accounting, escrow, token creation, and EDGARization.
Fees collected will not exceed $4,000, and any amounts incurred above $4,000 will be the responsibility of the Manager.

**Series Warhol AWMICKEY reserves the right to change the above use of proceeds if management believes it is in the best interests of the company.**

**Series Warhol AWMARILYN**

The table below sets forth our estimated use of proceeds from this Series Warhol AWMARILYN offering on a fully subscribed basis.

---

| | | |
|:---|:---|:---|
| **Uses** | **Dollar Amount** | **Percentage of Gross**<br> **Cash Proceeds** |
| **Cash Portion of the Asset Cost** | $475000 | 81.9% |
| Broker Dealer Fees <sup>(1)</sup> | $5800 | 1.0% |
| Sourcing Fee <sup>(2)</sup><br>| $47500 | 8.2% |
| Platform Fee <sup>(3)</sup> | $47500 | 8.2% |
| Other Offering Fees <sup>(4)</sup><br>| $4000 | 0.7% |
| **Total Fees and Expenses** | $104800 | 18.1% |
| **Total Proceeds** | $579800 | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Pursuant
 to the series' agreement with our Broker, Broker will receive a sum equal to 1% of
 the total offering amount.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Pursuant
 to the series' agreement with our Curator, our Curator will receive a sum equal to
 10% of the cost of the asset.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Pursuant
 to the series' agreement with our technology provider, our technology provider will
 receive a sum equal to 10% of the cost of the asset.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Other Offering Fees includes costs associated with professional fees,
including legal and accounting, escrow, token creation, and EDGARization. Fees collected will not exceed $4,000, and any amounts incurred
above $4,000 will be the responsibility of the Manager.

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**Series Warhol AWMARILYN reserves the right to change the above use of proceeds if management believes it is in the best interests of the company.**

**Series Warhol AWDEAN**

The table below sets forth our estimated use of proceeds from this Series Warhol AWDEAN offering on a fully subscribed basis.

---

| | | |
|:---|:---|:---|
| **Uses** | **Dollar Amount** | **Percentage of Gross**<br> **Cash Proceeds** |
| **Cash Portion of the Asset Cost** | $175000 | 81.0% |
| Broker Dealer Fees <sup>(1)</sup> | $2200 | 1.0% |
| Sourcing Fee <sup>(2)</sup> | $17500 | 8.1% |
| <br>Platform Fee <sup>(3)</sup> | $17500 | 8.1% |
| Other Offering Fees <sup>(4)</sup><br>| $4000 | 1.9% |
| **Total Fees and Expenses** | $41200 | 19.0% |
| **Total Proceeds** | $216200 | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Pursuant
 to the series' agreement with our Broker, Broker will receive a sum equal to 1% of
 the total offering amount.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Pursuant
 to the series' agreement with our Curator, our Curator will receive a sum equal to
 10% of the cost of the asset.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Pursuant
 to the series' agreement with our technology provider, our technology provider will
 receive a sum equal to 10% of the cost of the asset.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Other Offering Fees includes costs associated with professional fees,
including legal and accounting, escrow, token creation, and EDGARization. Fees collected will not exceed $4,000, and any amounts incurred
above $4,000 will be the responsibility of the Manager.

**Series Warhol AWDEAN reserves the right to change the above use of proceeds if management believes it is in the best interests of the company.**

[**Table of Contents**](#toc)

**Series Warhol AWJAGGER**

The table below sets forth our estimated use of proceeds from this Series Warhol AWJAGGER offering on a fully subscribed basis.

---

| | | |
|:---|:---|:---|
| **Uses** | **Dollar Amount** | **Percentage of Gross**<br> **Cash Proceeds** |
| **Cash Portion of the Asset Cost** | $200000 | 81.2% |
| Broker Dealer Fees <sup>(1)</sup> | $2500 | 1.0% |
| Sourcing Fee <sup>(2)</sup> | $20000 | 8.1% |
| <br>Platform Fee <sup>(3)</sup> | $20000 | 8.1% |
| Other Offering Fees <sup>(4)</sup><br>| $4000 | 1.6% |
| **Total Fees and Expenses** | $46500 | 18.8% |
| **Total Proceeds** | $246500 | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Pursuant
 to the series' agreement with our Broker, Broker will receive a sum equal to 1% of
 the total offering amount.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Pursuant
 to the series' agreement with our Curator, our Curator will receive a sum equal to
 10% of the cost of the asset.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Pursuant
 to the series' agreement with our technology provider, our technology provider will
 receive a sum equal to 10% of the cost of the asset.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Other Offering Fees includes costs associated with professional fees,
including legal and accounting, escrow, token creation, and EDGARization. Fees collected will not exceed $4,000, and any amounts incurred
above $4,000 will be the responsibility of the Manager.

**Series Warhol AWJAGGER reserves the right to change the above use of proceeds if management believes it is in the best interests of the company.**

[**Table of Contents**](#toc)

**Series Warhol AWSHOES**

The table below sets forth our estimated use of proceeds from this Series Warhol AWSHOES offering on a fully subscribed basis.

---

| | | |
|:---|:---|:---|
| **Uses** | **Dollar Amount** | **Percentage of Gross**<br> **Cash Proceeds** |
| **Cash Portion of the Asset Cost** | $300000 | 81.6% |
| Broker Dealer Fees <sup>(1)</sup> | $3700 | 1.0% |
| Sourcing Fee <sup>(2)</sup><br>| $30000 | 8.2% |
| Platform Fee <sup>(3)</sup> | $30000 | 8.2% |
| Other Offering Fees <sup>(4)</sup><br>| $4000 | 1.1% |
| **Total Fees and Expenses** | $67700 | 18.4% |
| **Total Proceeds** | $367700 | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Pursuant
 to the series' agreement with our Broker, Broker will receive a sum equal to 1% of
 the total offering amount.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Pursuant
 to the series' agreement with our Curator, our Curator will receive a sum equal to
 10% of the cost of the asset.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Pursuant
 to the series' agreement with our technology provider, our technology provider will
 receive a sum equal to 10% of the cost of the asset.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Other Offering Fees includes costs associated with professional fees,
including legal and accounting, escrow, token creation, and EDGARization. Fees collected will not exceed $4,000, and any amounts incurred
above $4,000 will be the responsibility of the Manager.

**Series Warhol AWSHOES reserves the right to change the above use of proceeds if management believes it is in the best interests of the company.**

[**Table of Contents**](#toc)

**THE UNDERLYING ASSETS**

*The discussions contained in this Offering Circular relating to the underlying assets of our series, the artworks, and their related industries are taken from third-party sources that we believe to be reliable, and we believe that the information from such sources contained herein is reasonable, and that the factual information is fair and accurate. The discussions contained in this Offering Circular relating to the underlying collectible artworks of our series were provided by the asset sellers and the information on their related industries are taken from third-party sources, which we believe to be reliable, and we believe that the information from such sources contained herein is reasonable, and that the factual information is fair and accurate.*

 

**Series Warhol AWMICKEY**

***The Artist***

Andy Warhol was an American artist who was one of the founders of the "pop art" movement. His artwork regularly depicted pop culture, celebrities, and big American brands. As one of the most influential artists of the 20<sup>th</sup> century, Warhol's work permeated pop culture, with even casual observers recognizing some of his most famous works. Warhol is one of the best-selling artists of all time, and in 2022, his Shot Sage Blue Marilyn sold for $195 million, which is the most expensive artwork ever sold by an American artist.

Warhol was born Andrew Warhola in Pittsburgh, Pennsylvania on August 6, 1928. He spent his early years in Pittsburgh, eventually culminating in him attending the Carnegie Institute of Technology, now Carnegie Mellon University, where he graduated with a Bachelor of Fine Arts in 1949. Shortly after graduating from the Carnegie Institute of Technology, he moved to New York City where he lived for most of the rest of his life.

While in New York City, Warhol became a prolific artist and his work began to be featured at art shows, galleries, and museums by the end of the 1950s. His artwork focused heavily on consumerism, and some of his most famous works depicted iconic American brands such as Coca-Cola and Campbell's Soup. His fame continued to grow over time, and he eventually was commissioned to complete portraits of some of the most famous celebrities and politicians of his era, including John Lennon, Mick Jagger, Diana Ross, and even Elvis Presley.

Andy Warhol died on February 22, 1987 at the age of 58 in New York City. Since his death, his fame and popularity have continued to grow. The Andy Warhol Museum opened in Pittsburgh, Pennsylvania in 1994 and is the largest museum in North America dedicated to a single artist. More recently, Andy Warhol's life was cataloged by a Netflix documentary entitled, The Andy Warhol Diaries, which premiered in 2022.

***The Asset***

Double Mickey is a 30 ½" x 43" rare, unique screenprint in color with diamond dust on Arches 88 paper, completed in 1981 by Andy Warhol. Only 25 were ever produced, and each print in the series is unique based on its colorway. This print is number 3 of 25, and was signed and numbered by the artist in pencil on the reverse of the print "Andy Warhol, 3/25." It is housed in a frame with light wood molding.

***Purchase Details***

Freeport entered into a purchase option agreement to acquire this Double Mickey Mouse print for $700,000 from art dealer, Michael Haber Enterprises, Inc., contingent upon a successful close of the offering. The company reviewed a recent appraisal of this artwork by a certified member of the International Society of Appraisers (ISA) dated September 15, 2022. While Freeport believes in the accuracy of the appraisal, Freeport has not independently validated the appraised value.

**Series Warhol AWMARILYN**

 ****

***The Artist***

Andy Warhol was an American artist who was one of the founders of the "pop art" movement. His artwork regularly depicted pop culture, celebrities, and big American brands. As one of the most influential artists of the 20<sup>th</sup> century, Warhol's work permeated pop culture, with even casual observers recognizing some of his most famous works. Warhol is one of the best-selling artists of all time, and in 2022, his Shot Sage Blue Marilyn sold for $195 million, which is the most expensive artwork ever sold by an American artist.

Warhol was born Andrew Warhola in Pittsburgh, Pennsylvania on August 6, 1928. He spent his early years in Pittsburgh, eventually culminating in him attending the Carnegie Institute of Technology, now Carnegie Mellon University, where he graduated with a Bachelor of Fine Arts in 1949. Shortly after graduating from the Carnegie Institute of Technology, he moved to New York City where he lived for most of the rest of his life.

While in New York City, Warhol became a prolific artist and his work began to be featured at art shows, galleries, and museums by the end of the 1950s. His artwork focused heavily on consumerism, and some of his most famous works depicted iconic American brands such as Coca-Cola and Campbell's Soup. His fame continued to grow over time, and he eventually was commissioned to complete portraits of some of the most famous celebrities and politicians of his era, including John Lennon, Mick Jagger, Diana Ross, and even Elvis Presley.

[**Table of Contents**](#toc)

Andy Warhol died on February 22, 1987 at the age of 58 in New York City. Since his death, his fame and popularity have continued to grow. The Andy Warhol Museum opened in Pittsburgh, Pennsylvania in 1994 and is the largest museum in North America dedicated to a single artist. More recently, Andy Warhol's life was cataloged by a Netflix documentary entitled, The Andy Warhol Diaries, which premiered in 2022.

***The Asset***

Marilyn is a 36" x 36" screenprint completed in 1967 by Andy Warhol of the iconic American celebrity, Marilyn Monroe. This print is an FS 31 and is signed by the artist in pencil and stamped with an edition number on the reverse of the print. It is individually numbered, and this print is #81 of #250. It is housed in a box frame with aluminum molding.

Marilyn is one of Warhol's most famous and popular works. His Shot Sage Blue Marilyn recently sold for over $195,000,000. Marilyn consisted of 10 different colorways of the face of Marylin Monroe. Each colorway was an edition of 250 plus 26 additional prints lettered A-Z. The catalog numbers from Feldman Schellmann are FS 22-31, with FS 31 and 23 being the most popular. Our Marilyn print is an FS 31.

***Purchase Details***

 

Freeport entered into a purchase option agreement to acquire this Marilyn print for $475,000 from the personal collection of Warhol collector, "Baby" Jane Holzer, contingent upon a successful close of the offering. The company reviewed a recent appraisal of this artwork by a certified member of the International Society of Appraisers (ISA) dated September 15, 2022. While Freeport believes in the accuracy of the appraisal, Freeport has not independently validated the appraised value.

**Series Warhol AWDEAN**

 ****

***The Artist***

Andy Warhol was an American artist who was one of the founders of the "pop art" movement. His artwork regularly depicted pop culture, celebrities, and big American brands. As one of the most influential artists of the 20<sup>th</sup> century, Warhol's work permeated pop culture, with even casual observers recognizing some of his most famous works. Warhol is one of the best-selling artists of all time, and in 2022, his Shot Sage Blue Marilyn sold for $195 million, which is the most expensive artwork ever sold by an American artist.

Warhol was born Andrew Warhola in Pittsburgh, Pennsylvania on August 6, 1928. He spent his early years in Pittsburgh, eventually culminating in him attending the Carnegie Institute of Technology, now Carnegie Mellon University, where he graduated with a Bachelor of Fine Arts in 1949. Shortly after graduating from the Carnegie Institute of Technology, he moved to New York City where he lived for most of the rest of his life.

While in New York City, Warhol became a prolific artist and his work began to be featured at art shows, galleries, and museums by the end of the 1950s. His artwork focused heavily on consumerism, and some of his most famous works depicted iconic American brands such as Coca-Cola and Campbell's Soup. His fame continued to grow over time, and he eventually was commissioned to complete portraits of some of the most famous celebrities and politicians of his era, including John Lennon, Mick Jagger, Diana Ross, and even Elvis Presley.

Andy Warhol died on February 22, 1987 at the age of 58 in New York City. Since his death, his fame and popularity have continued to grow. The Andy Warhol Museum opened in Pittsburgh, Pennsylvania in 1994 and is the largest museum in North America dedicated to a single artist. More recently, Andy Warhol's life was cataloged by a Netflix documentary entitled, The Andy Warhol Diaries, which premiered in 2022.

***The Asset***

Rebel Without a Cause (James Dean) is a 38" x 38" print by Andy Warhol on Lenox Museum Board. It is from Warhol's Ads series which was completed in 1985. The print captures the iconic James Dean in his signature pose. It is signed and numbered by the artist in pencil on the lower right of the print "Andy Warhol 86/190", with additional publisher stamps on the reverse, lower left. It is individually numbered, and this print is #86 of #190.

 

***Purchase Details***

 

Freeport entered into a purchase option agreement to acquire this Rebel Without a Cause (James Dean) print for $175,000 from the personal collection of Warhol collector, "Baby" Jane Holzer, contingent upon a successful close of the offering. The company reviewed a recent appraisal of this artwork by a certified member of the International Society of Appraisers (ISA) dated September 15, 2022. While Freeport believes in the accuracy of the appraisal, Freeport has not independently validated the appraised value.

[**Table of Contents**](#toc)

 

**Series Warhol AWJAGGER**

 ****

***The Artist***

Andy Warhol was an American artist who was one of the founders of the "pop art" movement. His artwork regularly depicted pop culture, celebrities, and big American brands. As one of the most influential artists of the 20<sup>th</sup> century, Warhol's work permeated pop culture, with even casual observers recognizing some of his most famous works. Warhol is one of the best-selling artists of all time, and in 2022, his Shot Sage Blue Marilyn sold for $195 million, which is the most expensive artwork ever sold by an American artist.

Warhol was born Andrew Warhola in Pittsburgh, Pennsylvania on August 6, 1928. He spent his early years in Pittsburgh, eventually culminating in him attending the Carnegie Institute of Technology, now Carnegie Mellon University, where he graduated with a Bachelor of Fine Arts in 1949. Shortly after graduating from the Carnegie Institute of Technology, he moved to New York City where he lived for most of the rest of his life.

While in New York City, Warhol became a prolific artist and his work began to be featured at art shows, galleries, and museums by the end of the 1950s. His artwork focused heavily on consumerism, and some of his most famous works depicted iconic American brands such as Coca-Cola and Campbell's Soup. His fame continued to grow over time, and he eventually was commissioned to complete portraits of some of the most famous celebrities and politicians of his era, including John Lennon, Mick Jagger, Diana Ross, and even Elvis Presley.

Andy Warhol died on February 22, 1987 at the age of 58 in New York City. Since his death, his fame and popularity have continued to grow. The Andy Warhol Museum opened in Pittsburgh, Pennsylvania in 1994 and is the largest museum in North America dedicated to a single artist. More recently, Andy Warhol's life was cataloged by a Netflix documentary entitled, The Andy Warhol Diaries, which premiered in 2022.

***The Asset***

Mick Jagger is a 43 ½" x 29" screenprint completed in 1975 by Andy Warhol on Arches Aquarelle paper. This artist proof is signed by the artist in pencil on the lower right and by the subject, Mick Jagger, in marker on the lower right. Both signatures on this print are exceptionally strong. This print is a unique limited edition and is not part of the original 250 edition. It is housed in a frame with white molding.

In 1975, Warhol created a Mick Jagger series which contained ten different poses of Mick Jagger. Each of Jagger's poses was an edition of 250 plus 50 artist proofs. The catalog numbers from Feldman Schellmann are FS 138-147, with FS 140, 141, and 143 being the most popular. Our Jagger print is an FS 141.

***Purchase Details***

 

Freeport entered into a purchase option agreement to acquire this Mick Jagger print for $200,000 from the personal collection of Warhol collector "Baby" Jane Holzer, contingent upon a successful close of the offering. This piece was originally a gift to Bob Dennison from the artist and subject. It was then gifted to the personal collection of Ms. Holzer. The company reviewed a recent appraisal of the artwork by a certified member of the International Society of Appraisers (ISA) dated September 15, 2022. While Freeport believes in the accuracy of the appraisal, Freeport has not independently validated the appraised value.

 

**Series Warhol AWSHOES**

 ****

***The Artist***

Andy Warhol was an American artist who was one of the founders of the "pop art" movement. His artwork regularly depicted pop culture, celebrities, and big American brands. As one of the most influential artists of the 20<sup>th</sup> century, Warhol's work permeated pop culture, with even casual observers recognizing some of his most famous works. Warhol is one of the best-selling artists of all time, and in 2022, his Shot Sage Blue Marilyn sold for $195 million, which is the most expensive artwork ever sold by an American artist.

Warhol was born Andrew Warhola in Pittsburgh, Pennsylvania on August 6, 1928. He spent his early years in Pittsburgh, eventually culminating in him attending the Carnegie Institute of Technology, now Carnegie Mellon University, where he graduated with a Bachelor of Fine Arts in 1949. Shortly after graduating from the Carnegie Institute of Technology, he moved to New York City where he lived for most of the rest of his life.

While in New York City, Warhol became a prolific artist and his work began to be featured at art shows, galleries, and museums by the end of the 1950s. His artwork focused heavily on consumerism, and some of his most famous works depicted iconic American brands such as Coca-Cola and Campbell's Soup. His fame continued to grow over time, and he eventually was commissioned to complete portraits of some of the most famous celebrities and politicians of his era, including John Lennon, Mick Jagger, Diana Ross, and even Elvis Presley.

[**Table of Contents**](#toc)

Andy Warhol died on February 22, 1987 at the age of 58 in New York City. Since his death, his fame and popularity have continued to grow. The Andy Warhol Museum opened in Pittsburgh, Pennsylvania in 1994 and is the largest museum in North America dedicated to a single artist. More recently, Andy Warhol's life was cataloged by a Netflix documentary entitled, The Andy Warhol Diaries, which premiered in 2022.

***The Asset***

Shoes is a 40 ¼" x 59 ½" screenprint completed in 1980 by Andy Warhol. This print is an unpublished trial proof on Arches paper with deckled edges. The print was previously certified by the Andy Warhol Foundation.

Andy Warhol created the Shoes series in 1980, which consisted of five all black works with diamond dust and five works with color. This print is closely related visually to FS II.253 from Shoes in that its image consists of red and pink shoes on a black background. However, the shoes in this print are arranged in a unique way which differs from FS II.253.

 

***Purchase Details***

 

Freeport entered into a purchase option agreement to acquire this Shoes print for $300,000 from art dealer, Michael Haber Enterprises, Inc., contingent upon a successful close of the offering. The company reviewed a recent appraisal of this artwork by a certified member of the International Society of Appraisers (ISA) dated September 15, 2022. While Freeport believes in the accuracy of the appraisal, Freeport has not independently validated the appraised value.

***Management of the Artwork***

The artwork will be managed by Freeport Services, LLC as part of a Services agreement with Freeport Holdings Series, LLC. The company has not yet entered into an agreement for storage of the artworks, but intends to enter into a lease agreement with a reputable vault located in either New York City or Delaware. The Manager plans to maintain insurance coverage for the artwork against loss or damage of the artwork.

***The Art Market***

 

Freeport offers users exposure to the opportunities presented by both direct investment exposure in fine art and the greater fine art market. This market is composed of auction houses, advisors, dealers, galleries, museums, public institutions, and additional participants in the expanding network of fine art that Deloitte has valued at an estimated $1.7 trillion total.

In 2021, the art market experienced a resurgence of growth in the wake of COVID-19, with buyers returning to auction houses, galleries, and purchasing art online at unprecedented rates. According to "The Art Market 2022" report by UBS and Art Basel, the US art market experienced 33% sales growth in 2021 with a total of $28.0 billion worth of art sold.

In 2020, online art sales totaled $12.4 billion, more than doubling the previous year, with further growth of 7% to an estimated $13.3 billion projected in 2021 according to UBS. Consumers have demonstrated their growing interest in purchasing and interacting with fine art online since the global pandemic, shifting their habits toward a more shareable future.

In 2021, 56% of High Net Worth Collectors surveyed by UBS planned to purchase digital art in 2022, especially true among millennial collectors.

[**Table of Contents**](#toc)

**THE COMPANY'S BUSINESS**

**Overview**

Freeport's mission is to democratize ownership of incredibly rare art and other fine assets by providing two things to investors: direct financial exposure and membership in a digital collector's community. Freeport fundamentally redefines the ownership experience for users via cutting edge digital technologies that increase the utility of the assets on our platform. At its core, Freeport envisions a world where more people get access to rare things – and the ability to engage with those things in compelling new ways.

**History and Structure**

Freeport Holdings Series, LLC is a series limited liability company formed on June 17, 2022, pursuant to Section 18-215 of the Delaware Limited Liability Company Act, or the LLC Act.

As a series limited liability company, title to our underlying assets will be held by, or for the benefit of, the applicable series of interests. We intend that each series of interests will own its own underlying assets, which will be collectible artworks. A new series of interests will be issued for each artwork to be acquired by us.

Section 18-215(b) of the LLC Act provides that, if certain conditions are met (including that certain provisions are in the formation and governing documents of the series limited liability company, and if the records maintained for any such series account for the assets associated with such series separately from the assets of the limited liability company, or any other series), then the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular series shall be enforceable only against the assets of such series and not against the assets of the limited liability company generally or any other series. As such, the assets of a series include only the assets associated with that series and other related assets (e.g. cash reserves).

**Members of our company**

Members of our company include owners of shares of our company or shares of our series.

An investor who has purchased shares in one of our series in this offering will become a "Member" of our company (as defined in our operating agreement). No Member, in its capacity as a Member, will participate in the operation or management of the business of our company or any series, nor transact any business in our company or any series.

**Manager of our company**

As set forth in its operating agreement, Freeport Holdings Series, LLC is managed by its Manager, Freeport Services, LLC.

*Manager*

 

Freeport Services, LLC, a Delaware limited liability company formed in June 2022 and is the Manager of our company and each series. As our Manager, it has the full power and authority to do any and all things it determines to be necessary or appropriate to conduct the business of our company and each series, without the consent of our Members.

In the event of the resignation of our Manager, a replacement will be selected by the departing Manager.

Holders of shares in each series will only have the right to remove and replace the Manager, by a vote of two-thirds of the holders of all shares in each series, in the event our Managing Member is found to (1) have engaged in fraud, gross negligence, or willful misconduct, (2) the conviction of the applicable Manger of a felony, (3) a material violation by the applicable Manager of any applicable law that has a material adverse effect on the business of the company, or the bankruptcy or insolvency of the Manager.

*Other Management Provisions*

 

The operating agreement further provides that our Manager, in exercising its rights in its capacity as the Manager, will be entitled to consider only such shares and factors as it desires, including its own shares, and will have no duty or obligation (fiduciary or otherwise) to give any consideration to any interest of or factors affecting our company, any series of shares or any of the interest holders and will not be subject to any different standards imposed by the operating agreement, the LLC Act or under any other law, rule or regulation or in equity. In addition, the operating agreement provides that our Manager will not have any duty (including any fiduciary duty) to our company, any series or any of the Members.

[**Table of Contents**](#toc)

**Series of our Company**

Our Manager may, at any time and from time to time cause our company to establish in writing one or more series of the company. Each series will have its own Series Operating Agreement, and the terms and conditions for each series established will be set forth in the Series Operating Agreement.

In the event of a conflict between the terms and conditions of our Operating Agreement and a Series Operating Agreement, the terms and conditions of the Series Operating Agreement will control.

Each of the series of our company operates as if it were a separate limited liability company.

**Affiliate Relationships**

In addition to our Manager, other affiliates of the company will have important roles in the operations of the company. These include Freeport Curation, LLC as the Curator, and Freeport Technologies, LLC ("Technologies") as the provider of platform and technology services to the company.

*The Curator*

 

The primary duty of the Curator is to research, source, and support the acquisition of collectible artwork that will become the assets of each series of the company. Further, the Curator will also be responsible for sourcing purchasers for the resale of assets after they have been held by the series. As compensation for these efforts, the Curator will receive a sourcing fee equal to 10% of the asset price paid out of the proceeds from the offering of securities by the series. The fee upon disposition of the asset will be 10% of the amount received for the sale of the asset in excess of the initial asset price and fees associated with the sale of the asset.

Our agreement with Freeport Curation, LLC is included as Exhibit 6.3 to the offering statement of which this Offering Circular is part.

*Technologies*

 

Freeport Technologies, LLC will provide platform and technology services to the company and each series. The services Technologies will provide includes support of the online website used by the company to communicate about each offering, investment processing, development of smart contracts, creation of experiential digital upgrades, and management of any online community for investors.

As compensation for its services, Freeport Technologies will receive a fee of 10% of the value of the asset ("**Platform Fee**"). We intend to collect the value of this fee as part of the proceeds of the offering but may defer payment of the fee until after one year from the completion of the primary offering.

Our agreement with Freeport Technologies, LLC is included as Exhibit 6.4 to the offering statement of which this Offering Circular is part.

**Operating Expenses**

The Manager will be responsible for operating expenses of the series, such as appraisal fees, research fees, storage fees, insurance fees, etc. As compensation for paying these fees, in addition to the management efforts of the Manager, the Manager will receive equity compensation equal to 1.5% of the outstanding value of shares of each series on an annual basis. We do not expect the series to have any ongoing operating expenses other than the Management Fee paid in equity to the Manager.

**Offering and Formation Expenses**

Fees associated with the offering and formation of each series will be the responsibility of each series and will be paid out of proceeds of the offering for each series.

[**Table of Contents**](#toc)

**Indemnification of our Managers**

The operating agreement provides that none of our Managers, or the Managers of any series, nor any current or former directors, officers, employees, partners, shareholders, members, controlling persons, agents or independent contractors of our Managers (including the Managers of our series), members of the Advisory Board, nor persons acting at the request of our company in certain capacities with respect to other entities will be liable to our company, any series or any interest holders for any act or omission taken by them in connection with the business of our company or any series that has not been determined in a final, non-appealable decision of a court, arbitrator or other tribunal of competent jurisdiction to constitute fraud, willful misconduct or gross negligence.

Each series will indemnify these persons out of its assets against all liabilities and losses (including amounts paid in respect of judgments, fines, penalties or settlement of litigation, including legal fees and expenses) to which they become subject by virtue of serving our company or such series and with respect to any act or omission that has not been determined by a final, non-appealable decision of a court, arbitrator or other tribunal of competent jurisdiction to constitute fraud, willful misconduct or gross negligence.

**Asset Acquisition**

Our company (through its series) plans to acquire underlying assets primarily through the following methods:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Upfront
 purchase – our company acquires an underlying asset from an asset seller prior to the
 launch of an offering related to a series;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Purchase
 agreement – our company enters into an agreement with an asset seller to acquire an
 underlying asset, which may expire prior to the closing of the offering for the related series,
 in which case our company is obligated to acquire the underlying asset prior to the closing
 of that series' offering; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Purchase
 option agreement – our company enters into a purchase option agreement with an asset
 seller, which gives our company the right, but not the obligation, to acquire the underlying
 asset,

In the case where an underlying asset is acquired prior to the launch or closing of a series offering, as the case may be, the proceeds from the associated offering, net of any Offering Expenses or other Acquisition Expenses or Sourcing Fee, as applicable, will be used to reimburse our company for the acquisition of the underlying asset or repay any loans made to our company, plus applicable interest, to acquire such underlying asset.

Rather than pre-purchasing an underlying asset before the closing of an offering, our company may also negotiate with asset sellers for the exclusive right to market an underlying asset to investors for a period of time. The Company plans to achieve this by pre- negotiating a purchase price (or desired amount of liquidity) and entering into an asset purchase agreement or a purchase option agreement with an asset seller for an underlying asset, which would close as soon as routine business practices will allow after the closing of the offering of shares in the series associated with that underlying asset. Then, upon the closing of a successful offering, the asset seller would be compensated with a combination of cash proceeds from the offering and, if elected, equity ownership in the series associated with the underlying asset (as negotiated in the agreement for such underlying asset) and title to the underlying asset would be held by, or for the benefit of, the applicable series.

In some cases, an asset seller or the Manager may be issued shares in a series:

● as part of total purchase consideration to the asset seller and/or Manager; or

● repay an advance owed to the Manager (no interest will accrue on the advance owed to the Manager).

If our company enters into a purchase agreement or purchase option agreement with a seller, it is possible that the agreement will not close, even if sufficient funds are raised in an offering to fund the purchase. Funds from a series' offering will be held in escrow and will be returned to investors without interest if the asset purchase agreement or purchase option agreement fails to close.

Additional details on the acquisition method for each underlying asset can be found in the "Series Offering Table" and in the "Use of Proceeds" section for each respective series.

[**Table of Contents**](#toc)

***Art Purchase Option Agreements***

As of the date of this offering circular, the company has entered into the following purchase option agreements:

&nbsp;&nbsp;&nbsp;&nbsp;· On December 13, 2022, Freeport Holdings Series,
LLC entered into an Art Purchase Option Agreement for the Series Warhol AWMICKEY Asset. To complete the acquisition, the Series will provide
consideration of $700,000. Upon closing, the seller will provide the Series with a Bill of Sale for the artwork documenting the transfer
of ownership. The Art Purchase Option Agreement will expire in nine months if the Series is not able to raise the full amount of its offering.

&nbsp;&nbsp;&nbsp;&nbsp;· On December 13, 2022, Freeport Holdings Series,
LLC entered into an Art Purchase Option Agreement for the Series Warhol AWMARILYN Asset. To complete the acquisition, the Series
will provide consideration of $475,000. Upon closing, the seller will provide the Series with a Bill of Sale for the artwork documenting
the transfer of ownership. The Art Purchase Option Agreement will expire in nine
months if the Series is not able to raise the full amount of its offering.

&nbsp;&nbsp;&nbsp;&nbsp;· On December 13, 2022, Freeport Holdings Series,
LLC entered into an Art Purchase Option Agreement for the Series Warhol AWDEAN Asset. To complete the acquisition, the Series will
provide consideration of $175,000. Upon closing, the seller will provide the Series with a Bill of Sale for the artwork documenting the
transfer of ownership. The Art Purchase Option Agreement will expire in nine months
if the Series is not able to raise the full amount of its offering.

&nbsp;&nbsp;&nbsp;&nbsp;· On December 13, 2022, Freeport Holdings Series,
LLC entered into an Art Purchase Option Agreement for the Series Warhol AWJAGGER Asset. To complete the acquisition, the Series
will provide consideration of $200,000. Upon closing, the seller will provide the Series with a Bill of Sale for the artwork documenting
the transfer of ownership. The Art Purchase Option Agreement will expire in nine
months if the Series is not able to raise the full amount of its offering.

&nbsp;&nbsp;&nbsp;&nbsp;· On December 13, 2022, Freeport Holdings Series,
LLC entered into an Art Purchase Option Agreement for the Series Warhol AWSHOES Asset. To complete the acquisition, the Series
will provide consideration of $300,000. Upon closing, the seller will provide the Series with a Bill of Sale for the artwork documenting
the transfer of ownership. The Art Purchase Option Agreement will expire in nine
months if the Series is not able to raise the full amount of its offering.

The form of each Purchase Option Agreement is included as Exhibit 6.1 to our Offering Statement, of which this Offering Circular is part.

**Asset Liquidity**

The amount of time that a series will hold and manage all its assets will vary depending on the type of assets being acquired by the series. Liquidity for investors would be obtained through distributions to investors as well as by transferring their shares in a series.

It is the company's intention to have its securities quoted on an ATS. Currently, no trading market exists and there are no assurances that any will develop.

While the company will seek to cause a Monetization Event, including but not limited to the following: (i) a final sale or (ii) exit of disposition of the assets as designated by each series respectively, there is no guarantee that such Monetization Event will be achieved. However, if a Monetization Event occurs, each member or record holder will receive its allocable share of the final sale proceeds (net of the Management Fee and other expenses) from the sale in a manner as described under "Securities Being Offered—Liquidation Rights" below,

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**Allocations of Expenses**

The Managing Member will be responsible for Operating Expenses and any indemnification payments. We do not expect the series to have any expenses other than the Management Fee paid to the Managing Member.

**Tax Matters**

Our company intends to elect for each series of shares in the company to be taxed as a "C" corporation under Subchapter C of the Internal Revenue Code of 1986, as amended, and expects that each series will be treated as a corporation for all federal and state tax purposes. Thus, each series of shares will be taxed at regular corporate rates on its income, including any gain from the sale or exchange of the assets that will be held by each series, before making any distributions to shareholders.

**Collectible Artwork Market**

***Overview***

 ****

Freeport offers users exposure to the opportunities presented by both direct investment exposure in fine art and the greater fine art market. This market is composed of auction houses, advisors, dealers, galleries, museums, public institutions, and additional participants in the expanding network of fine art that Deloitte has valued at an estimated $1.7 trillion total. As global wealth continues to climb, so does investment and interest in the fine art and collectibles market. Traditionally, unaccredited investors have been unable to take advantage of the opportunities that are available in the blue chip fine-art market, although recent increases in consumers' interest in digital art has allowed for more investment opportunities in fine art and collectibles.

Global markets have shifted tastes towards asset diversification following market volatilities seen since the beginning of COVID-19. According to Deloitte, 67% of wealth managers expect increased transparency and regulation in the art market.

***Industry Overview and Market Opportunity***

In 2021, the art market experienced a resurgence of growth in the wake of COVID-19, with buyers returning to auction houses, galleries, and purchasing art online at unprecedented rates. According to *The Art Market 2022* report by UBS and Art Basel, the US art market experienced 33% sales growth in 2021 with a total of $28.0 billion worth of total art sold.

According to Arts Economics (2022), 88% of high net-worth collectors purchased fine art in 2021, 80% purchased decorative art, and 52% purchased other collectibles. Despite this, the report demonstrates that 54% of art purchased by high net worth (HNW) collectors is sold for above $100,000. While this art is often inaccessible to consumers due to high pricing, HNW investors can take advantage of the investment opportunities that exist in the growing art market and more often than not choose to do so. According to Deloitte, $1.48 trillion out of $1.7 trillion of the fine art market could be contributed to ultra-high net worth individuals in 2020. This data suggests that 87% of the value of all fine art and collectibles are owned only by a select few.

According to UBS and Art Basel, 35% of art dealers sold to new buyers online, and 57% and 32% in 2019 and 2020 respectively. Additionally, 56% of surveyed HNW collectors planned to purchase digital art in 2022. Many of these opportunities come in the form of new art mediums and digital technologies that seek to transform the nature of the way humans share art.

***The Future of the Collectible Artwork Market***

Over the past several years, the art market has become increasingly digital and fractionalized. While Freeport Holdings Series, LLC is not offering investment in Non-Fungible Tokens (NFTs), we believe that the growth in popularity of NFTs proves that demand exists for digital art, especially in spaces where communities develop around the artwork. In 2021, NFTs became recognized by major auction houses as forms of legitimate digital art; Sotheby's and Christie's sold $230 million in NFTs in 2021 according to Deloitte and Art Basel. Outside of major auction houses, NFTs have become recognized as digital art by many consumers, who purchased $4.6 million of NFTs in 2019 and grew to $11.1 billion in 2021 according to data from NonFungible.com and Arts Economics. The art NFT market saw high liquidity in 2021, with the time between purchase and resale for art NFTs averaging at just 33 days. After the sale of Beeple's *Everydays: The First 5000 Days* for $69.3 million in March 2021, serious collectors have continued to explore NFTs as a medium of fine art.

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According to UBS and Art Basel, there were 130,696 buyers of art NFTs and 84,182 sellers of art NFTs in 2021 who transacted $2.57 billion worth of art NFTs. Consumers have demonstrated their clear interest in the purchase of digital fine art. By harvesting the power of technology, many new digital-art collectors can now interact with their art in new ways including through the emergence of online communities surrounding digital art projects across the globe. These communities, comprising anywhere from two people to two million, communicate via digital platforms such as Twitter, Discord, and Telegram. Community members and dealers alike prefer the ability to share their art online, who according to Arts Economics (2022) plan to utilize strategies such as social media, digital art fairs, and online exhibition tools to continue to engage with participants in the fine art market in new and innovative ways.

Investors in the art market have also experienced an emerging trend of fractionalization of high value artwork, among other alternative assets, through the advancement of technology and policy. Companies that have distinguished themselves in this emerging space include Masterworks, Otis, Pacaso, and Rally Rd. who offer unaccredited investors access to investments in fine art, collectibles, real estate, and classic cars respectively. Through Regulation A offerings, these firms have been able to expand the possibilities of legal, securitized investments in asset classes previously only available to high net worth individuals. According to publicly available data from Masterworks, the company has acquired approximately $500 million worth of fine art and onboarded over 400,000 users. As of September 2022, Masterworks launches a new offering to investors on average every six days. The rapid demand for fine art on Masterworks' platform as well as other collectibles on Rally Rd. demonstrates consumers' demand for fractionalized exposure to important cultural artifacts.

**Member Liquidity Access Benefit**

As a benefit available to investors, we intend to allow each, as a Member of the series limited liability company into which they have invested, to borrow funds from the series out of any deferred fees paid by that particular series to Freeport Technologies for up to one year after the close of this offering. Upon request for liquidity from the series, our Manager will determine the access fee and payback period.

Each liquidity request by a Member will require the Member to lock shares in the series as collateral. If the liquidity is not repaid at or before the due date, then shares will remain locked and unable to trade until the liquidity is repaid. If liquidity still has not been repaid and a share liquidation event takes place due to the sale of physical artwork, an amount equaling the value of the liquidity owed to the pool may be forfeited to the series and will be deducted from any return of capital or profits owed to the Member at time of share liquidation, if any. Any Member that may partake in this program will not be held personally liable for any funds borrowed. Full terms of use and details of the program will live on www.freeport.app. Access to liquidity may be offered by a partner financial entity in the future.

**Experiential Passes**

Freeport Technologies plans to offer a limited number of experiential passes to potential investors of Freeport Holdings Series, LLC affiliated series. These Freeport passes will be sold as unique digital certificates, with varying designs and degrees of rarity.

Holders of Freeport passes may from time to time be offered different digital experiences, such as custom frames for displaying assets, unique gallery views, access to community discussion channels, and first notice to offerings on the platform, but no such notice is guaranteed.

Freeport passes do not represent or guarantee:

- An ownership interest in any Freeport Holdings Series, LLC affiliated series

- An ownership interest in any of Freeport's underlying assets

- A right to any distributions of any kind made by Freeport

- A right to participate in future offerings issued by Freeport

**Employees**

Currently, the company does not have any employees.

**Intellectual Property**

The company does not own any patents, copyrights or trademarks.

**Litigation**

Neither the company nor its executive officers are not currently a party to any legal proceedings.

**Government Regulation**

The company's operations are not subject to specific government regulations.

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**THE COMPANY'S PROPERTY**

We do not own or lease any real estate, office space or significant tangible assets.

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**MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION**

**Overview**

**Emerging Growth Company**

Upon the completion of our initial offering, we may elect to become a public reporting company under the Exchange Act. We will qualify as an "emerging growth company" under the JOBS Act. As a result, we will be permitted to, and intend to, rely on exemptions from certain disclosure requirements. For so long as we are an emerging growth company, we will not be required to:

● have an auditor report on our internal controls over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act;

● comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor's report providing additional information about the audit and the financial statements (i.e., an auditor discussion and analysis);

● submit certain executive compensation matters to shareholder advisory votes, such as "say-on-pay" and "say-on-frequency;" and

● disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the CEO's compensation to median employee compensation.

In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

We will remain an "emerging growth company" for up to five years, or until the earliest of (i) the last day of the first fiscal year in which our total annual gross revenues exceed $1.07 billion, (ii) the date that we become a "large accelerated filer" as defined in Rule 12b-2 under the Exchange Act, which would occur if the market value of our interests that is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter or (iii) the date on which we have issued more than $1.07 billion in non-convertible debt during the preceding three year period.

**Operating Results**

**Liquidity and Capital Resources**

As of June 30, and September 30, 2022, our company had $0 in cash on hand. The company, through each series will have minimal operating expenses, and believes that we will have sufficient funding from the proceeds raised in each series offering to implement the plan of operations. Our operations have to date been financed by our parent entity, Abstract Ventures. There is no expectation of reimbursement for amounts paid by Abstract Ventures except for the amounts raised under "Other Offering Expenses" identified in the use of proceeds for each series.

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**Plan of Operations**

No series of our company has commenced operations, is capitalized or has any assets. We intend for each series to start operations at the time of the closing of each applicable offering.

All assets and liabilities related to each underlying asset that have been incurred to date and will be incurred until the closing of each offering are the responsibility of our company or our Manager and responsibility for any assets or liabilities related to each underlying asset will not transfer to the applicable series until such time as a closing has occurred.

Each series intends to generate revenues, if at all, as described in the "The Company's Business" section of this Offering Circular based on the nature of the assets. For instance, we anticipate that, in the future, a series that invests in assets that are revenue generating may generate enough revenues to distribute dividends to shareholders within twelve months from commencing its operations. However, we do not anticipate that any of our current series will generate revenue until a liquidation or sale of some of its underlying assets. See "The Company's Business—Operating Expenses" for additional information regarding the payment of Operating Expenses.

We believe that the proceeds from the offerings will satisfy our cash requirements for the next six months to implement the foregoing plan of operations.

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**DIRECTORS, EXECUTIVE OFFICERS AND SIGNIFICANT EMPLOYEES**

**The Manager**

Our company operates under the direction of Freeport Services, LLC, our Manager. In addition, other affiliated service providers, such as Freeport Curation, LLC, the Curator, and Freeport Technologies, LLC, provide services to the company. Each of these entities is wholly owned by Abstract Ventures.

**Directors, Executive Officers and Key Employees of Abstract Ventures.**

The following table sets forth the name and position of each of the current executive officers and directors of Abstract Ventures, the sole member of our Manager.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **Position** | **Age** | **Term of Office (Beginning)** | **Approximate hours per week for part-time employees** |
| **Executive Officers** | **Executive Officers** | **Executive Officers** | **Executive Officers** | **Executive Officers** |
| Colin Johnson | CEO | 35 | December 2021 | Full-time |
| Jeffrey Kaplan | COO | 36 | March 2022 | Full-time |
| David Lumley | CTO | 34 | June 2022 | Full-time |
| **Directors** | **Directors** | **Directors** | **Directors** | **Directors** |
| Colin Johnson |  | 35 | December 2021 |  |
| Scot McClintic |  | 35 | September 2022 |  |
| Kathryn Carpenter |  | 35 | September 2022 |  |

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***Colin Johnson, CEO and Director***

Colin Johnson is a marketing & fintech veteran, having worked at Apple in the Bay Area for nearly 5 years on the Apple Pay marketing team as a Manager (2017-2021). While there he owned marketing relationships with all of the major North American banks as well as product marketing for Apple Cash. Before Apple, he worked at American Express (2014-2017) as a Senior Manager of Partner Marketing, working on the digital partnerships and development team to bring technology and finance more in line. He is a graduate of Princeton University where he studied English & Environmental studies and was born and raised in Trenton, New Jersey.

***Jeffrey Kaplan, COO***

Jeffrey (Jeff) Kaplan has spent most of his 15-year career in strategic and financial development. Most recently from 2019 to 2022, Jeff served as the Vice President of Finance and Strategy for Penn Interactive (PI), the interactive gaming arm of Penn Entertainment (formerly Penn National Gaming). During his time at PI, Jeff oversaw consistent revenue growth and was instrumental in developing the integrated media strategy which the company is now deploying. Prior to his time at PI, Jeff spent nearly 4 years (2015-2019) at Comcast/NBCUniversal on the Strategic Development team building new, adjacent growth businesses for the company. Jeff is a graduate of the University of Pittsburgh where he received a Bachelor of Science in Business Administration and received a certificate in Leadership and Ethics.

***David Lumley, CTO***

David has spent the last 5 years as a Principal Engineer at Clearbit. During this time he built products, led teams, and worked directly with the CTO and executive team to ensure Clearbit's architecture is scalable, secure, and compliant (both SOC2 and GDPR/CCPA). His background is in product development, and he has degrees in IT (majoring in Software Engineering) and MultiMedia (majoring in Interactive Entertainment) from Griffith University, Australia.

 ***Scot McClintic, Director***

Scot has a variety of experience spanning multiple industries, including gaming, media and entertainment, private equity, and renewable energy. Since 2021, Scot has served as the Chief Product Officer for Fanatics Betting and Gaming, the interactive gaming arm of Fanatics. Prior to Fanatics, Scot spent 1 year at PaySafe as their SVP, iGaming Product & Strategy, helping the company launch new products. From 2019-2020, Scot was the VP, and Head of Barstool Sportsbook & Casino for Penn Entertainment (formerly Penn National Gaming). From 2018-2019, Scot served as the Principal responsible for Strategic Development and M&A at Comcast Corporation, where he helped the company enter new growth businesses. Scot holds a Master of Business Administration from the Fuqua School of Business at Duke University and received his Bachelor of Science in Economics from The College of New Jersey.

 ***Kathryn Carpenter, Director***

Kathryn Carpenter is a clean energy professional with a focus on finance and new ventures. Kathryn most recently founded Cecilia Energy, a clean tech startup seeking to unlock the potential of hydrogen as a clean energy fuel, where she has worked since 2021. Prior to Cecilia Energy, Kathryn served as a Partner with Sidewalk Infrastructure Partners, where she focused on urban infrastructure projects. From 2011-2021, Kathryn worked for Capital Dynamics, holding the title of Director in her latest post. At Capital Dynamics, Kathryn was responsible for the evaluation, investment, and operations of clean energy infrastructure projects. Kathryn graduated from the University of Florida with a Bachelor's degree in Finance.

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**MANAGEMENT COMPENSATION**

**Compensation of Executive Officers**

We do not currently have any employees nor do we currently intend to hire any employees who will be compensated directly by our company. All compensated individuals reside within Abstract Ventures, which benefits from payments received from its wholly owned subsidiaries, Freeport Services, LLC, Freeport Curation, LLC, and Freeport Technologies, LLC.

The following table sets forth the form of compensation and the recipient of such compensation together with the determination of the amount and the estimated amount.

---

| | | | |
|:---|:---|:---|:---|
| **Offering Stage** | **Form of Compensation and Expense Reimbursement** | **Determination of Amount** | **Compensated Entity** |
| *Asset Acquisition* | Sourcing Fee | 10% of the acquisition price of the collectible asset | Freeport Curation, LLC |
| *Offering of Securities* | Platform Fee | 10% of the acquisition price of the collectible asset | Freeport Technologies, LLC |
| *Operation of the Series* | Management Fee | 1.5% of the outstanding value of the securities of the series, determined and paid on an annual basis in the form of equity of the series. | Freeport Services, LLC |
| *Asset Disposition* | Disposition Fee | 10% of the asset sale price reduced by the initial acquisition price and expenses associated with the sale of the asset | Freeport Curation, LLC |

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Our Manager will also receive its pro rata distribution based on the percent equity of the series it owns at the time of the asset disposition and winding up of a series.

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**SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITYHOLDERS**

Upon designation of each series, the Manager was granted a share in each series and became the initial member holding 100% of the then-outstanding shares of each series. During the operations of each series, our Manager will receive shares as payment of the Management Fee.

At the closing of each offering, our Manager or its affiliates may purchase shares sold in each offering for the same price as all other investors. Our Manager may sell its shares from time to time after the closing of each offering in its sole discretion. Any future sales would be based upon our Manager's potential need for capital, market prices of the shares at the time of a proposed sale and other factors that a reasonable investor might consider in connection with the sale of securities similar to the shares.

As of the date of this Offering Circular, the Manager owns the following securities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Title of Class** | **Number of <br> Shares <br> Owned** | **Number of <br> Shares <br> Acquirable<sup>(1)</sup>** | **Percent of <br> Outstanding <br> Interests <br> Owned** | **Percent of <br> Outstanding <br> Interests <br> Acquirable <sup>(1)</sup>** |
| Series Warhol AWMICKEY Interests | 1 | 2502 | 100% | 20% |
| Series Warhol AWMARILYN Interests | 1 | 2502 | 100% | 20% |
| Series Warhol AWDEAN Interests | 1 | 2502 | 100% | 20% |
| Series Warhol AWJAGGER Interests | 1 | 2502 | 100% | 20% |
| Series Warhol AWSHOES Interests | 1 | 2502 | 100% | 20% |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) Based
 upon issuance of interests for the Management Fee over a 15 year period.

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**INTEREST OF MANAGEMENT AND OTHERS IN CERTAIN TRANSACTIONS**

The following includes a summary of transactions since our inception, or any currently proposed transaction, in which we were or are to be a participant and the amount involved exceeded or exceeds the lesser of $120,000 or one percent of the average of our total assets at year-end for the last two completed fiscal years, and in which any related person had or will have a direct or indirect material interest (other than compensation described under "Compensation of Directors and Executive Officers"). We believe the terms obtained or consideration that we paid or received, as applicable, in connection with the transactions described below were comparable to terms available or the amounts that would be paid or received, as applicable, in arm's-length transactions.

**Agreement with Manager**

On November 22, 2022, the company entered into a services agreement with Freeport Services LLC to act as Manager to the company and each series. Under the terms of the agreement, the Manager is responsible for all day-to-day operations of each series. As compensation, the Manager will receive equity in each series equal to 1.5% of the outstanding equity in each series on an annual basis. The agreement is provided as Exhibit 6.2 to our Offering Statement, of which this Offering Circular is part.

**Agreement with Curator**

On November 22, 2022, the company entered into a services agreement with Freeport Curation LLC to act as Curator to the company and each series. Under the terms of the agreement, the Curator is responsible for sourcing the assets that may be acquired by a series, and sourcing purchasers for the art from the series. As compensation, the Curator will receive a procurement charge of 10% of the price of the specific art asset, and disposition charge of 10% of the profits when the art asset is sold to a third-party. The agreement is provided as Exhibit 6.3 to our Offering Statement, of which this Offering Circular is part.

**Agreement with Technologies**

On November 22, 2022, the company entered into a services agreement with Freeport Technologies LLC to act as technology service provider to the company and each series. Under the terms of the agreement, Technologies is responsible for software services related to the offer and sale of securities by each series, and development and execution of digital experiences for investors. As compensation, Technologies will receive a platform charge of 10% of the price of the specific art asset, payment of which may be deferred by one year. The agreement is provided as Exhibit 6.4 to our Offering Statement, of which this Offering Circular is part.

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**SECURITIES BEING OFFERED**

*The following is a summary of the principal terms of, and is qualified by reference to, the operating agreement, of form of which attached hereto as Exhibit 2.2, and the subscription agreements, a form of which is attached hereto as Exhibit 4.1, relating to the purchase of the shares offered hereby. The operating agreement will be executed prior to qualification. Capitalized terms used in this summary that are not defined shall have the meanings ascribed thereto in the operating agreement.*

 

**Description of Shares**

Our company is a series limited liability company formed pursuant to Section 18-215 of the LLC Act. The purchase of the shares offered hereby is an investment only in the particular series and not an investment in our company as a whole. In accordance with the LLC Act, any series of shares established by our company will be a separate series of limited liability company shares of our company and not in a separate legal entity. We have not issued, and will not issue, any class of shares entitled to any preemptive, preferential or other rights that are not otherwise available to the holders purchasing shares in connection with the offerings.

Title to the underlying assets will be held by, or for the benefit of, the applicable series. We intend that each series will own its own underlying assets, which will be collectible artwork. An investor who invests in an offering will not have any indirect interest in any asset other than the underlying assets related to the applicable series unless the investor also participates in a separate offering associated with that other underlying asset.

Section 18-215(b) of the LLC Act provides that, if certain conditions are met (including that certain provisions are in the formation and governing documents of the series limited liability company, and if the records maintained for any such series account for the assets associated with such series separately from the assets of the limited liability company, or any other series), then the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular series shall be enforceable only against the assets of such series and not against the assets of the limited liability company generally or any other series. Accordingly, our company expects our Manager to maintain separate, distinct records for each series and its associated assets and liabilities. As such, the assets of a series include only the artwork associated with that series and other related assets (e.g., cash reserves). As noted in the "Risk Factors" section, the limitations on inter-series liability provided by Section 18-215(b) have never been tested in federal bankruptcy courts and it is possible that a bankruptcy court could determine that the assets of one series should be applied to meet the liabilities of the other series or the liabilities of our company generally where the assets of such other series or of our company generally are insufficient to meet our company's liabilities.

Section 18-215 of the LLC Act provides that a series established in accordance with Section 18-215(b) may carry on any lawful business, purpose or activity, other than the business of banking, and has the power and capacity to, in its own name, contract, hold title to assets (including real, personal and intangible property), grant liens and security shares, and sue and be sued. We intend for each series to conduct its business and enter into contracts in its own name to the extent such activities are undertaken with respect to a particular series and title to the relevant underlying assets will be held by, or for the benefit of, the relevant series.

All of the shares offered by this Offering Circular will be duly authorized and validly issued. Upon payment in full of the consideration payable with respect to the shares, as determined by our Managing Member, the holders of the shares will not be liable to our company to make any additional capital contributions (except for the return of distributions under certain circumstances as required by Sections 18-215, 18-607 and 18-804 of the LLC Act). Holders of the shares offered hereby have no conversion, exchange, sinking fund, redemption or appraisal rights, no pre-emptive rights to subscribe for any shares and no preferential rights to distributions.

Each series will use the proceeds of its offerings to pay certain fees and expenses related to the acquisition of the asset and services for the offering. We intend to use a portion of the proceeds from the closing of each offering to acquire the underlying asset for a series. We will only conduct a closing of each series offering when raising the full amount of funding being sought to acquire the underlying asset and pay the fees and expenses.

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An investor in each offering will acquire an ownership interest only in the applicable series and not, for the avoidance of doubt, in (i) our company, (ii) any other series of shares, (iii) our Manager or the Curator, or (iv) any underlying asset owned by any series. Although our shares will not immediately be listed on a stock exchange and a liquid market in our shares cannot be guaranteed, we intend to have our securities quoted on an ATS. Currently, no trading market exists and there are no assurances that any will develop.

 ***Explanatory Note Regarding Tokens***

As noted above in this offering circular, we intend for the shares to be represented by tokens. The tokens themselves do not create new rights, or include any other rights beyond those provided by ownership of the shares.

The tokens issued as part of the sale and distribution of our shares will be recorded on a blockchain digital ledger. Currently, blockchain allows for the share ownership to be represented in a visual format that may enhance the ownership experience. While we may not be able to create additional functionality, as future use cases become available, we will inform investors through the contact information provided with their subscription for the shares.

**No Redemption Provisions**

No series of our shares are redeemable, except as necessary in order to avoid the assets of our company being deemed "plan assets" under ERISA.

**No Registration Rights**

There are no registration rights in respect of any series of our shares.

**Limited Voting Rights**

Our Manager is not required to hold an annual meeting of Members. The Series Operating Agreement provides that meetings of interest holders may be called by our Manager. The Manager is not required to request the votes of Members except for when Members are requested to vote for removal of the Manager for cause, with cause being defined as: (1) have engaged in fraud, gross negligence, or willful misconduct, (2) the conviction of the applicable Manger of a felony, (3) a material violation by the applicable Manager of any applicable law that has a material adverse effect on the business of the company, or the bankruptcy or insolvency of the Manager.

When entitled to vote on a matter, each Member will be entitled to one vote per share held by it on all matters submitted to a vote of the Members of an applicable series or of the Members of all series of our company, as applicable. The removal of our Manager for cause must be approved by two-thirds of the votes that may be cast by all Members in any series of our company. All other matters to be voted on by the Members must be approved by a majority of the votes cast by all Members in any series of our company present in person or represented by proxy.

**Liquidation Rights**

The Series Operating Agreement provides that each series shall remain in existence until a final distribution of the assets of the series to Members, or an entry of a decree of judicial dissolution of our company.

In connection with the liquidation of a series as part of a final distribution of assets, whether as a result of the dissolution of our company or the termination of such series, all property and distributable cash in excess of that required to discharge liabilities that are contingent, conditional or unmatured, shall be distributed as follows:

● First, payment of accrued and unpaid fees, costs, and liabilities, applicable taxes, and any costs related to the transfer or disposition of the asset, which, for the avoidance of doubt, includes the Disposition Fee; and

● Second, to the Members pro rata based on the percent ownership of the series (which, for the avoidance of doubt, will include the Manager as they will have received shares for its management);

**Transfer Restrictions**

Each series of our shares are subject to restrictions on transferability. A holder of shares may not transfer, assign or pledge its shares without the consent of our Manager. Our Manager may withhold consent in its sole discretion. If our shares become tradable via an ATS, this transfer restriction will no longer apply.

Additionally, any transferees will be required to agree to adhere to the terms of the Operating Agreement and applicable Series Operating Agreement.

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**Agreement to be Bound by the Operating Agreement; Power of Attorney**

By purchasing shares, the investor will be admitted as a Member of our company and will be bound by the provisions of, and deemed to be a party to, the Operating Agreement and applicable Series Operating Agreement. Pursuant to the operating agreement, each Member grants to our Manager a power of attorney to, among other things, execute and file documents required for our qualification, continuance or dissolution. The power of attorney also grants our Manager ember the authority to make certain amendments to, and to execute and deliver such other documents as may be necessary or appropriate to carry out the provisions or purposes of, the Operating Agreement and applicable Series Operating Agreement.

**Waiver of Right to Trial by Jury**

Our subscription agreement that investors will execute when investing a series of our company also provides that subscribers waive the right to a jury trial of any claim they may have against us arising out of or relating to the subscription agreement. This jury trial waiver also applies to claims arising under federal securities laws.

If we opposed a jury trial demand based on the waiver, a court would determine whether such waiver was enforceable given the facts and circumstances of that case in accordance with applicable case law. Meaning that if either jury trial waiver provision is not permitted by applicable law, an action could proceed under the terms of the subscription agreement with a jury trial. Furthermore, no condition, stipulation or provision of either agreement serves as a waiver by any holder of our shares or by us of compliance with any substantive provision of the federal securities laws and the rules and regulations promulgated under those laws.

[**Table of Contents**](#toc)

**ONGOING REPORTING AND SUPPLEMENTS TO THIS OFFERING CIRCULAR**

We will be required to make annual and semi-annual filings with the SEC. We will make annual filings on Form 1-K, which will be due by the end of April each year and will include audited financial statements for the previous fiscal year. We will make semi-annual filings on Form 1-SA, which will be due by September 28 each year, which will include unaudited financial statements for the six months to June 30. We will also file a Form 1-U to announce important events such as the loss of a senior officer, a change in auditors or certain types of capital-raising. We will be required to keep making these reports unless we file a Form 1-Z to exit the reporting system, which we will only be able to do if we have less than 300 shareholders of record and have filed at least one Form 1-K.

At least every 12 months, we will file a post-qualification amendment to the offering statement of which this Offering Circular forms a part, to include the company's recent financial statements.

We may supplement the information in this Offering Circular by filing a Supplement with the SEC.

All these filings will be available on the SEC's EDGAR filing system. You should read all the available information before investing.

[**Table of Contents**](#toc)

FINANCIAL STATEMENTS

FREEPORT HOLDINGS SERIES LLC as of June 30, 2022 and for the

initial period June 17, 2022 to June 30, 2022

[**Table of Contents**](#toc)

**FREEPORT HOLDINGS SERIES LLC**

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **Page** |
| **[Independent Auditor's Report](#b_001)** | F-3 |
| **Financial Statements** |  |
| &nbsp;&nbsp;&nbsp;[Balance Sheet](#b_003) | F-5 |
| &nbsp;&nbsp;&nbsp;[Statement of Operations](#b_004) | F-6 |
| &nbsp;&nbsp;&nbsp;[Statement of Changes in Member's Equity](#b_005) | F-7 |
| &nbsp;&nbsp;&nbsp;[Statement of Cash Flows](#b_006) | F-8 |
| &nbsp;&nbsp;&nbsp;[Notes to the Financial Statements](#b_007) | F-9 |

---

[**Table of Contents**](#toc)

**INDEPENDENT AUDITOR'S REPORT**

**FINANCIAL STATEMENTS**

*Your Vision Our Focus*

![](image_003.jpg)

**<u>Independent Auditors' Report</u>**

To the Member of

Freeport Holdings Series LLC

***Opinion***

We have audited the financial statements of Freeport Holdings Series LLC (the "Company"), which comprise the balance sheet as of June 30, 2022, and the related statements of operations, changes in members' equity, and cash flows for the period from June 17, 2022 to June 30, 2022, and the related notes to the financial statements.

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2022, and the results of its operations and its cash flows for the period from June 17, 2022 to June 30, 2022 in accordance with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

 **

***Substantial Doubt About the Entity's Ability to Continue as a Going Concern***

 **

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has a limited operating history and has stated that substantial doubt exists about the Company's ability to continue as a going concern. Management's evaluation of the events and conditions and management's plans regarding these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified with respect to this matter.

 ****

***Responsibilities of Management for the Financial Statements***

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for one year after the date that the financial statements are issued.

![](image_004.jpg)

[**Table of Contents**](#toc)

***Auditor's Responsibilities for the Audit of the Financial Statements***

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:

● Exercise professional judgment and maintain professional skepticism throughout the audit.

● Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

● Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Freeport Holdings Series LLC's internal control. Accordingly, no such opinion is expressed.

● Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

● Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Freeport Holdings Series LLC's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.

Dallas, Texas

December 14, 2022

[**Table of Contents**](#toc)

**FREEPORT HOLDINGS SERIES LLC**

**BALANCE SHEET**

---

| | |
|:---|:---|
|  | **June 30,**<br>**2022** |
| **Assets** |  |
| **Total assets** | $- |
| **Liabilities and Member's Equity** |  |
| **Member's equity:** |  |
| **Additional paid-in capital** | $2944 |
| **Retained earnings** | (2944) |
| **Total member's equity** | $- |
| **Total liabilities and member's equity** | $- |

---

See accompanying notes to the Consolidated Financial Statements.

[**Table of Contents**](#toc)

**FREEPORT HOLDINGS SERIES LLC**

**STATEMENT OF OPERATIONS**

---

| | |
|:---|:---|
|  | **For the<br> initial period ended<br> June 30,**<br>**2022** |
| **Revenue** | $- |
| **Operating expenses:** |  |
| &nbsp;&nbsp;&nbsp;General and administrative | 2944 |
| **Total operating expenses** | $2944 |
| **Operating loss** | $(2944) |
| **Net loss** | $(2944) |

---

See accompanying notes to the Consolidated Financial Statements.

[**Table of Contents**](#toc)

**FREEPORT HOLDINGS SERIES LLC**

**STATEMENT OF CHANGES IN MEMBER'S EQUITY**

---

| | | | |
|:---|:---|:---|:---|
|  | **Additional<br> Paid-in<br> Capital** | **Retained<br> Earnings** | **Member's<br> Equity** |
| **Balance as of June 1, 2022** | $**-** | $**-** | $**-** |
| Expenses Paid by Parent | 2944 |  | 2944 |
| Net loss |  | (2944) | (2944) |
| **Balance as of June 30, 2022** | $**2944** | $**(2944)** | $**-** |

---

See accompanying notes to the Consolidated Financial Statements.

[**Table of Contents**](#toc)

**FREEPORT HOLDINGS SERIES LLC**

**STATEMENT OF CASH FLOWS**

---

| | |
|:---|:---|
|  | **For the<br> initial period ended<br> June 30,**<br>**2022** |
| **Cash flows from operating activities:** |  |
| Net loss | $(2944) |
| Net cash used in operating activities | (2944) |
| **Cash flows from financing activities:** |  |
| Contributions from Parent | 2944 |
| Net cash provided by financing activities | $2944 |
| **Change in cash and cash equivalents** | $- |
| Cash and cash equivalents at the beginning of the year | - |
| Cash and cash equivalents at the end of the year | $- |

---

See accompanying notes to the Financial Statements.

[**Table of Contents**](#toc)

**FREEPORT HOLDINGS SERIES LLC**

**NOTES TO FINANCIAL STATEMENTS**

**Note 1. Organization and Basis of Presentation**

Freeport Holding Series LLC (the Company) was organized under the laws of the State of Delaware on June 17, 2022 with the principal business objective of supporting the launch of Series LLCs that will issue securities on the Freeport platform.

**Basis of Presentation**

This summary of significant accounting policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America (GAAP) and have been consistently applied in the preparation of the financial statements.

**Going Concern**

The accompanying financial statements have been prepared in conformity with GAAP, which contemplate continuation of the Company as a going concern, which is dependent upon the Company's ability to obtain sufficient financing or establish itself as a profitable business. During the approximately one-half_month ended June 30, 2022, the Company had no operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management's plans with respect to operations include raising additional capital through sales of equity or debt securities as may be necessary to pursue such business plans and sustain operations until such time as the Company can merge with or be acquired by another entity. However, there can be no assurance that management will be successful in obtaining additional funding or in attaining profitable operations. Additionally, the Company relies entirely on its parent Company, Abstract Ventures, Inc., for funding and support of current cash requirements. Abstract currently has no revenue itself and is therefore dependent on raising capital through issuance of debt and/or equity. The financial statements do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should the Company be unable to continue in operation.

**Note 2. Summary of Significant Accounting Policies**

**Use of Estimates**

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.

**Cash and Cash Equivalents**

The Company considers all highly liquid debt instruments and other short-term investments with maturity of three months or less, when purchased, to be cash equivalents. There were no cash or cash equivalents as of June 30, 2022.

**Fair Value of Financial Instruments**

The carrying amount reported in the accompanying balance sheets for prepaid expenses approximate fair value because of the immediate or short-term maturity of these financial instruments. The Company does not utilize derivative instruments.

[**Table of Contents**](#toc)

ASC 820, *Fair Value Measurements and Disclosures*, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2 Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 Inputs that are both significant to the fair value measurement and unobservable.

**Income Taxes**

The Company is a limited liability company treated as a partnership for federal and state income tax purposes with all income tax liabilities and/or benefits of the Company being passed through to the member. As such, no recognition of federal or state income taxes for the Company or its subsidiaries that are organized as limited liability companies have been provided for in the accompanying consolidated financial statements. Any uncertain tax position taken by the member is not an uncertain position of the Company.

**Recently Issued Accounting Standards**

There were recently issued accounting standard updates most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on our statements of financial position, results of operations or cash flows.

**Note 3. Members' Deficit / Related Party Transactions**

The Company's startup expenses were funded by a related entity, Abstract Ventures, Inc., which paid for the organizational costs as well as legal fees thereon. There were no other transactions for the period.

**Note 4. Subsequent Events**

The Company has evaluated subsequent events from the balance sheet through the date of this filing and determined there were no events to disclose.

[**Table of Contents**](#toc)

FINANCIAL STATEMENTS

FREEPORT HOLDINGS SERIES LLC as of September 30, 2022

[**Table of Contents**](#toc)

**FREEPORT HOLDINGS SERIES LLC**

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **Page** |
| **Financial Statements** **(Unaudited)** |  |
| &nbsp;&nbsp;&nbsp;[Balance Sheet](#c_003) | F-13 |
| &nbsp;&nbsp;&nbsp;[Statement of Operations](#c_004) | F-14 |
| &nbsp;&nbsp;&nbsp;[Statement of Changes in Member's Equity](#c_005) | F-15 |
| &nbsp;&nbsp;&nbsp;[Statement of Cash Flows](#c_006) | F-16 |
| &nbsp;&nbsp;&nbsp;[Notes to the Financial Statements](#c_007) | F-17 |

---

[**Table of Contents**](#toc)

**FREEPORT HOLDINGS SERIES LLC**

**BALANCE SHEET (UNAUDITED)**

---

| | |
|:---|:---|
|  | **September 30,**<br>**2022** |
| **Assets** |  |
| **Total assets** | $- |
| **Liabilities and Member's Equity** |  |
| **Member's equity:** |  |
| **Additional paid-in capital** | $2944 |
| **Retained earnings** | (2944) |
| **Total member's equity** | $- |
| **Total liabilities and member's equity** | $- |

---

See accompanying notes to the Consolidated Financial Statements.

[**Table of Contents**](#toc)

**FREEPORT HOLDINGS SERIES LLC**

**STATEMENT OF OPERATIONS (UNAUDITED)**

---

| | |
|:---|:---|
|  | **For the <br> three months ended<br> September 30,**<br>**2022** |
| **Revenue** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| **Operating expenses:** |  |
| &nbsp;&nbsp;&nbsp;General and administrative | - |
| **Total operating expenses** | $- |
| **Operating loss** | $- |
| **Net loss** | $- |

---

See accompanying notes to the Consolidated Financial Statements.

[**Table of Contents**](#toc)

**FREEPORT HOLDINGS SERIES LLC**

**STATEMENT OF CHANGES IN MEMBER'S EQUITY (UNAUDITED)**

---

| | | | |
|:---|:---|:---|:---|
|  | **Additional<br> Paid-in<br> Capital** | **Retained<br> Earnings** | **Member's<br> Equity** |
| **Balance as of June 30, 2022** | $**2944** | $**(2944)** | $**-** |
| **Balance as of September 30, 2022** | $**2944** | $**(2944)** | $**-** |

---

See accompanying notes to the Consolidated Financial Statements.

[**Table of Contents**](#toc)

**FREEPORT HOLDINGS SERIES LLC**

**STATEMENT OF CASH FLOWS (UNAUDITED)**

---

| | |
|:---|:---|
|  | **For the <br> three months ended <br> September 30,**<br>**2022** |
| **Cash flows from operating activities:** |  |
| Net loss | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| Net cash used in operating activities |  |
| **Cash flows from financing activities:** |  |
| Contributions from Parent | - |
| Net cash provided by financing activities | $- |
| **Change in cash and cash equivalents** | $- |
| Cash and cash equivalents at the beginning of the year | - |
| Cash and cash equivalents at the end of the year | $- |

---

See accompanying notes to the Financial Statements.

[**Table of Contents**](#toc)

**FREEPORT HOLDINGS SERIES LLC**

**NOTES TO FINANCIAL STATEMENTS**

**Note 1. Organization and Basis of Presentation**

Freeport Holding Series LLC (the Company) was organized under the laws of the State of Delaware on June 17, 2022 with the principal business objective of supporting the launch of Series LLCs that will issue securities on the Freeport platform.

**Basis of Presentation**

This summary of significant accounting policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America (GAAP) and have been consistently applied in the preparation of the financial statements.

**Going Concern**

The accompanying financial statements have been prepared in conformity with GAAP, which contemplate continuation of the Company as a going concern, which is dependent upon the Company's ability to obtain sufficient financing or establish itself as a profitable business. During the 3 months ended September 30, 2022, the Company had no operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management's plans with respect to operations include raising additional capital through sales of equity or debt securities as may be necessary to pursue such business plans and sustain operations until such time as the Company can merge with or be acquired by another entity. However, there can be no assurance that management will be successful in obtaining additional funding or in attaining profitable operations. Additionally, the Company relies entirely on its parent Company, Abstract Ventures, Inc., for funding and support of current cash requirements. Abstract currently has no revenue itself and is therefore dependent on raising capital through issuance of debt and/or equity. The financial statements do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should the Company be unable to continue in operation.

**Note 2. Summary of Significant Accounting Policies**

**Use of Estimates**

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.

**Cash and Cash Equivalents**

The Company considers all highly liquid debt instruments and other short-term investments with maturity of three months or less, when purchased, to be cash equivalents. There were no cash or cash equivalents as of September 30, 2022.

**Fair Value of Financial Instruments**

The carrying amount reported in the accompanying balance sheets for prepaid expenses approximate fair value because of the immediate or short-term maturity of these financial instruments. The Company does not utilize derivative instruments.

[**Table of Contents**](#toc)

ASC 820, *Fair Value Measurements and Disclosures*, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2 Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 Inputs that are both significant to the fair value measurement and unobservable.

**Income Taxes**

The Company is a limited liability company treated as a partnership for federal and state income tax purposes with all income tax liabilities and/or benefits of the Company being passed through to the member. As such, no recognition of federal or state income taxes for the Company or its subsidiaries that are organized as limited liability companies have been provided for in the accompanying consolidated financial statements. Any uncertain tax position taken by the member is not an uncertain position of the Company.

**Recently Issued Accounting Standards**

There were recently issued accounting standard updates most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on our statements of financial position, results of operations or cash flows.

**Note 3. Members' Deficit / Related Party Transactions**

The Company's startup expenses were funded by a related entity, Abstract Ventures, Inc., which paid for the organizational costs as well as legal fees thereon. There were no other transactions for the period.

**Note 4. Subsequent Events**

On November 2, 2022, the Company signed an agreement with Dalmore Group, LLC to provide broker-dealer services to support its securities offerings. The agreement commits the Company to a $5,000 upfront payment as well as a $10,000 consulting fee.

On November 23, 2022, the Company signed an agreement with Vertalo, Inc. to provide tokenization and transfer agent services to support its securities offerings and ongoing operations. The agreement commits the Company to a $75,000 upfront payment.

[**Table of Contents**](#toc)

**PART III – EXHIBITS**

**Exhibit Index**

---

| | |
|:---|:---|
| **[1.1](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex1-1.htm)** | **[Broker-Dealer Agreement\*](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex1-1.htm)** |
| **[2.1](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex2-1.htm)** | **[Certificate of Formation\*](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex2-1.htm)** |
| **[2.2](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex2-2.htm)** | **[Operating Agreement of Freeport Holdings Series, LLC\*](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex2-2.htm)** |
| **[2.3](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex2-3.htm)** | **[Form of Series Operating Agreement\*](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex2-3.htm)** |
| **[4.1](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex4-1.htm)** | **[Form of Subscription Agreement\*](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex4-1.htm)** |
| **[6.1](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex6-1.htm)** | **[Form of Purchase Option Agreement\*](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex6-1.htm)** |
| **[6.2](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex6-2.htm)** | **[Manager Agreement with Freeport Services, LLC\*](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex6-2.htm)** |
| **[6.3](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex6-3.htm)** | **[Curation Agreement with Freeport Curation, LLC\*](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex6-3.htm)** |
| **[6.4](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex6-4.htm)** | **[Technology Agreement with Freeport Technologies, LLC\*](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex6-4.htm)** |
| **[8.1](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex8-1.htm)** | **[Form of Escrow Agreement\*](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex8-1.htm)** |
| **[11.1](freeportholdings_ex11-1.htm)** | **[Consent of Auditor](freeportholdings_ex11-1.htm)** |
| **[12.1](freeportholdings_ex12-1.htm)** | **[Attorney Opinion](freeportholdings_ex12-1.htm)** |
| [13.1](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex13-1.htm) | [Testing the Waters Landing Page\*](http://www.sec.gov/Archives/edgar/data/1946910/000182912622020312/freeportholdings_ex13-1.htm) |
| [13.2](freeportholdings_ex13-2.htm) | [Testing the Waters Communications](freeportholdings_ex13-2.htm) |

---

 **\*** Previously filed

[**Table of Contents**](#toc)

**SIGNATURES**

Pursuant to the requirements of Regulation A, the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form 1-A and has duly caused this offering statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Moorestown, State of New Jersey, on January 24, 2023.

---

| | |
|:---|:---|
| **FREEPORT HOLDINGS SERIES, LLC** | **FREEPORT HOLDINGS SERIES, LLC** |
| By: Abstract Ventures, Inc., its Manager's Member | By: Abstract Ventures, Inc., its Manager's Member |
| *By:* | */s/ Colin Johnson* |
|  | Colin Johnson |
|  | Chief Executive Officer |

---

This offering statement has been signed by the following persons, in the capacities, and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **SIGNATURE** | **TITLE** | **DATE** |
| */s/ Colin Johnson* | Principal Executive Officer and Director of the | January 24, 2023 |
| Colin Johnson | Manager's Member |  |
| */s/ Jeffrey Kaplan* | Principal Financial Officer, Principal Accounting Officer | January 24, 2023 |
| Jeffrey Kaplan | of the Manager's Member |  |
| /s/ *Scot McClintic* | Director of the Manager's Member | January 24, 2023 |
| Scot McClintic |  |  |
| /s/ *Kathyrn Carpenter* | Director of the Manager's Member | January 24, 2023 |
| Kathyrn Carpenter |  |  |

---

## Ex1A-11

**Exhibit 11.1**

Your Vision Our Focus

 

![](ex11-1_001.jpg)

 

 

<u>Consent of Independent Public Accounting Firm</u>

We consent to the use in this Offering Circular of Freeport Series LLC. on Form 1-A pursuant to Regulation A, of our report dated December 14, 2022 relating to the financial statements of Freeport Series LLC appearing in this Offering Circular.

/s/ Turner, Stone & Company, L.L.P.

Dallas, Texas

January 24, 2023

 

 

 

 

 

 

 

![](ex11-1_002.jpg)

## Ex1A-12

**Exhibit 12.1**

![](ex12_001.jpg)

CrowdCheck Law LLP

700 12<sup>th</sup> Street NW, Suite 700

Washington, DC 20005

January 24, 2023

Manager

Freeport Holdings Series, LLC

1181 Nixon Dr. #1009

Moorestown, NJ 08057

To the Managing Member:

We are acting as counsel to Freeport Holdings Series LLC (the "Company") with respect to the preparation and filing of an offering statement on Form 1-A. The offering statement covers the contemplated sale of membership interests (the "Interests") in each of the applicable series of the Company (each, a "Series") as set forth on Schedule 1 hereto (each, an "Offering").

In connection with the opinion contained herein, we have examined the offering statement, the certificate of formation of the Company, its Limited Liability Company Agreement, and the Series Designation of each Series undertaking an Offering, as well as all other documents necessary to render an opinion. In our examination, we have assumed the legal capacity of all natural persons, the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as certified or photostatic copies and the authenticity of the originals of such copies.

We are opining herein as to the effect on the subject transactions only of the laws of the State of Delaware, and we express no opinion with respect to the applicability thereto, or the effect thereon, of the laws of any other jurisdiction, including federal law.

Based upon the foregoing, we are of the opinion that the Interests being sold pursuant to the offering statement have been authorized by all necessary series limited liability company actions of the Company and, when issued in the manner described in the offering statement, will be validly issued, fully paid and non-assessable.

No opinion is being rendered hereby with respect to the truth and accuracy, or completeness of the offering statement or any portion thereof.

We further consent to the use of this opinion as an exhibit to the offering statement.

Yours truly,

*/s/ CrowdCheck Law LLP*

AS

**SCHEDULE 1**

---

| | | | |
|:---|:---|:---|:---|
| **Series Name** | **Offering Price per Interest** | **Maximum Membership Interests** | **Maximum Offering Size** |
| Warhol AWICKEY | $85.25 | 10000 | $852500 |
| Warhol AWMARILYN | $57.98 | 10000 | $579800 |
| Warhol AWDEAN | $21.62 | 10000 | $216200 |
| Warhol AWJAGGER | $24.65 | 10000 | $246500 |
| Warhol AWSHOES | $36.77 | 10000 | $367700 |

---

## Ex1A-13

**Exhibit 13.2**

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0:03 I don't think this is like a giant truth bomb, but a lot of things are easier when you are wealthy.

0:09 You can buy things that other people just can't. And one of the huge asset classes that these multi-millionaires are buying is fine art.

0:17 Facts are, fine art has outperformed most asset classes, including the s& p 500 and even further. Folks who've had the opportunity to sell art by Andy Warhol have been lucky enough to fetch 212% of the percent auction estimates.

0:31 That's awesome for those people who can afford it and who can buy it, but what about the rest of us who don't have the money to do that?

0:38 Actually, now you can. Freeport is a platform for investors to safely, and most importantly, legally gain exposure to some of the rarest fine art that exists today, for a tiny fraction of that cost.

0:52 If you wanna invest like the rich you can with Freeport. If you wanna sign up for the wait list or learn more, check out freeport.app.

Details:

An affiliate of Freeport is anticipating making an offering of securities under Tier 2 of Regulation A. No money or other consideration is being solicited and, if sent in response, will not be accepted. No offer to buy securities can be accepted, and no part of the purchase price can be received, until an offering statement filed with the SEC has been qualified by the SEC. Any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of acceptance given after the date of qualification by the SEC or as stated in the offering materials relating to an investment opportunity, as applicable. An indication of interest involves no obligation or commitment of any kind. The actor in this video is an unpaid advisor of Freeport.

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**Freeport Webinar Recording**

**Jan 17 2023**

[TTW language displayed near end of presentation]

An affiliate of Freeport is anticipating making an offering of securities under Tier 2 of Regulation A. No money or other consideration is being solicited and, if sent in response, will not be accepted. No offer to buy securities can be accepted, and no part of the purchase price can be received, until an offering statement filed with the SEC has been qualified by the SEC. Any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of acceptance given after the date of qualification by the SEC or as stated in the offering materials relating to an investment opportunity, as applicable. An indication of interest involves no obligation or commitment of any kind.

**Alec Beckman:** [00:00:00] Hello. Hello. Thank you to everyone who is here. Looks like we have 16 people here right now. Uh, we can give it a few minutes before we formally begin, uh, but my name is Alec Beckman. I'm the head of consulting for Security Token Advisors, and very lucky to be joined today by the CEO of Freeport, Colin Johnson.

**Colin Johnson:** So, so happy to be here, Alec. Thank you for having me. Uh, super, super excited to have this discussion.

**Alec Beckman:** Absolutely. And really quick while, uh, why don't you tell everyone where you're, you're joining, uh, us from, uh,

**Colin Johnson:** I'm in, I'm in Atlanta currently. This is, this is, uh, where I currently reside. I was in San Francisco for five years before this, and uh, then I was on, you know, the East coast, back in New York City for quite a few years before that.

But, uh, loving Atlanta, these.

**Alec Beckman:** Perfect. I love it. So before we get into Freeport, and by the way, what I think we'll be discussing, [00:01:00] Freeport, how it started, where it is, where it's headed, uh, but before we talk about that, would love if you could give a quick background about yourself and, uh, and how you got into the position you are today.

**Colin Johnson:** Sure. Um, a quick background. All right. All right. Let's make it quick. So, I was at Apple for five years. Before getting into Freeport, uh, I managed product marketing for Apple Cash for the second half of that. For the first half, I managed our relationships with a lot of the big issuing banks in North America.

So every time Chase or TD Ameritrade, or Wells Fargo or anyone like that had to talk about Apple. , uh, that would come through me. Uh, so Apple for five years before Apple, I was at American Express. So I was on the digital partnerships and development team there doing similar things, uh, trying to make Amex cool for, for young kids again.

Uh, so we had a lot of partnerships with folks like Airbnb and Uber. Uh, I think McDonald's was one of them. Uh, but I've been in payments for a long time. Uh, and I've been in sort of FinTech or some elements of FinTech for quite a while. And I've also been interested in crypto, uh, for almost equally as. [00:02:00] So anyways, that's what I've been doing for the past 10 years or so.

**Alec Beckman:** Perfect. I love it. So why don't you tell us how the Project Freeport came about and what it is that you're building. .

**Colin Johnson:** Yeah. So, okay, two great questions. Uh, how it came about was a few different factors came together all at one point in time. So, uh, one, uh, crypto was doing incredibly well and there was a lot of focus on sort of the future and the potential of the future.

Um, two, I was sort of, you know, I was enjoying my time at Apple. I was actually on sort of a research group within Apple that was looking into different ways to, to integrate with blockchain. Uh, I won't give too much information on that, uh, but it looks like it wasn't. Going anywhere and that we weren't gonna implement a lot of the things that I thought we should be implementing.

Um, and then we also had this, this third thing happen, which was we've got a few partners who have been fantastic to early advisors, early investors, and they've been in the Warhol scene, let's just say, New York City for the past 30 years or so. Uh, and one of them actually came to me, Michael [00:03:00] Haber. Uh, he's like the owner of warhols.com and he said, um, Colin, I see all the stuff that's going on in the crypto space, right?

And we see that the art world is being kind of fundamentally disrupted by the crypto space. How can we take the cool art that we have and do something on the blockchain such that people are gonna absolutely love it and take advantage of kind of the fundamental underlying value that they already had access to?

Um, and when we did that and we sort of assessed the landscape, we said, well, no, you don't wanna. because that's gonna end up looking like a security and no one wants to deal in securities. Uh, and yet here we are today, uh, having a discussion about securitized tokens and why we ended up going to securities route.

Um, but that's, that's effectively how it started. Uh, I wanted to get into the crypto space was a huge fanatic. We had this opportunity sort of come to us wearing, you know, a lot of really, really important and, um, awesome historic paintings, uh, became available. And, uh, you know, Freeport was born to give a little more context as to what Freeport actually is.

And maybe some people have have guessed at this point in time. Um, but we allow for the fractional investing in fine art, uh, and we're doing that [00:04:00] fractional investing on the blockchain as opposed to, other folks who people may be familiar with, who do it off of the blockchain. We think that there's just a lot of added benefit, uh, to doing that on chain.

And we're not just, uh, we're not just concerned with the investment though at Freeport, right? So there's also all these other elements of collecting, like visualizing the actual artwork itself, having it be displayed in the 3D gallery, and we can get to that in a little bit. Um, and then building a lot of the web three utility into the underlying investment itself too.

So it's cool to. Uh, have equity shares in, in a portion of a painting, but it's even cooler to be able to interact with, uh, you know, what feels a lot more like ownership than some of the other, other players in this space have, have brought to life.

**Alec Beckman:** Sure, and I think that's a great segue into one of the points that I wanted to hear.

uh, here's straight from you. So I think people hear about blockchain and they hear about crypto, uh, and they get worried about the experience side of, of it. And I think, um, you know, one of the things that everyone wanted to know [00:05:00] leading up to this was what is your experience going to be like, uh, for users and for people that are actually gonna be investing in these

**Colin Johnson:** fractions of art?

Can I just say everyone is very justified and being concerned about user experience in the blockchain space because if you. Defi, you'll get kind of the interactivity on open C or other N F T platforms. We're not an N F T platform to be clear, but Web three generally has not really cared about the user experience because everyone has been so focused on like the underlying terminology and kind of, it's been a lot of nerds, frankly, proving to other nerds that, um, uh, they know how things work.

So you'll see a lot of the underlying guts in like infrastructure, right. When the internet was, was first invented, um, all the different protocols and things that came about to sort of, uh, uh, that were requirements for us to have the experience we have today that were much more technical. Like those are things that we no longer discuss.

Right. We don't even consider, um, what kind of like the fundamental like IP protocols are. Uh, today. The entire defi experience in the entire kind of web three experience [00:06:00] up until now has been about like really calling out the fundamentals and, and having this entire. Um, that people really just don't wanna interact with.

Normal people really don't wanna interact with. So, uh, we've, we've noticed that and those, a lot of us on the team are nerds and we've interacted with a lot of those platforms and protocols and love them. To be clear, not just hating on everyone. Um, we do think that it's really, really important that we simplify everything that we're doing for customers such that, Um, they fundamentally intuit exactly what it is they're getting on the benefit level rather than sort of on the like infrastructure level.

Um, so as far as what our experience is gonna look like, it'll be the simplest possible, and this is part of the reason we chose this, the tech stack that we did. It'll be the simplest possible K y C and a m l, just a few steps. Um, it's not going to require much effort whatsoever to set up an account.

Again, that should only be a few steps. Um, and we're gonna allow for the secondary trading environment to also just exist on the Freeport platform. Like we won't be sending people off to some, um, you know, centralized exchange. Everything is going to happen in Freeport and we're gonna make it very, very simple [00:07:00] and almost like a three-step process throughout the way.

Sure.

**Alec Beckman:** And you talk about the K Y C A M L experience, and for those of you who don't know, there are specific requirements in the securities industry, uh, and, and written into securities law by the S E C that people have to go through a process of. Knowing who exactly is purchasing an asset, uh, and also making sure that they're going through, uh, proper channels.

They're not money laundering. Uh, so that is what Colin is referring to there. So, speaking of which, I think, you know, people would love to get an understanding of what the process would look like, uh, to actually purchase fractions of the art. Um, would, do you have anything that we could show, or do you want to even just explain the process of, of what that would look like for an.

**Colin Johnson:** Sure. Yeah. The primary offering is gonna be relatively straightforward and similar to what people have, have likely seen in the, in the fractional ownership space. Um, so you'll log into the website, you'll set up an account, you'll select which of the five [00:08:00] assets that we're gonna be offering. Uh, in just three months now, actually, it's coming up soon.

Uh, which one you'd like to invest in. Um, and then you'll go through the process of selecting the number of shares or, or tokens in, in our case, we're gonna have 10,000 tokens for each asset. Um, but you'll need to buy a minimum of 10. So they're actually only gonna be 1000 lots. Uh, for each of the, and, uh, you might have mentioned this before and people probably got it from the header, but we're gonna have Warhols our, our first.

Offerings are actually gonna be Warhol paintings and there'll be a thousand lots of each. So people will be able to select the number of lots that they'd like to purchase during the initial offering. It'll be a 90 day window. We expect it to be a much, much shorter actual window. Um, cause Warhols are in high demand right now and there aren't that many pieces that that can be purchased.

So we expect it to actually close out and. Something like one to three days is, is kind of what we're hoping for, um, Sony, as people will be able to purchase the, the number of shares that they'd like. Once the actual offering closes out and it's fully sold out, um, then we'll shut it down. Um, we'll do a little bit of a background assessment and then we will issue the [00:09:00] shares, uh, to our users, and then we'll have a secondary market available as soon as we possibly can.

Uh, after that. .

**Alec Beckman:** Um, and so you've mentioned the Warhols and I think, uh, we can all assume that this is gonna go beyond there, but can you talk about some of the plans beyond, uh, the initial five assets that you're gonna be issuing?

**Colin Johnson:** Yeah, so we are incredibly lucky to have some of our early, uh, advisors and investors, uh, be, let's just say deep in the art world, uh, to, to have significant collections.

Um, so the first 50 or 60 million worth of assets we've already, uh, effectively locked down. Let's just say not contractually, but uh, , but we're feeling very, very good about that inbound. Um, and then after that we've actually, we've had requests from different types of, uh, of folks who have their own artwork.

So, uh, to give you one example, we've been chatting with Playboy, not for their, their nude artwork, but actually, uh, some other Warhols and pieces that they've had sort of hanging around, uh, the mansion and, and other places, uh, in their [00:10:00] offices. And they'd like to fraction. Their artwork going through this process that we've got as well.

So, uh, what we've found to be really interesting is we've set up our own sort of, um, inbound channel, right? Uh, or sorry, we, we've set up our own. , um, first 50 or 60 million worth of artwork that, that we'll be managing. But we've already started to see inbound actually from other gallery owners as well, for instance, who are really, really curious about, uh, bringing their artwork onto the blockchain, right?

Because no one has done this in kind of an effective manner until now. Or rather, a manner that doesn't require you to, to jump through a lot of mental hurdles to understand what's going on. Um, so, so we're really, really most excited about how we're going to have in. Art collections, uh, from people who just are excited to bring their assets on chain.

That's

**Alec Beckman:** great. And then where is this art going to actually be physically held? ?

**Colin Johnson:** Great question. So, uh, there's a vault. Uh, it, it's actually in Manhattan, in New York City, and it looks like. Uh, the Gring gets vault from Harry Potter, [00:11:00] right? So they have these train cars that move around on railroad tracks.

They're full of, uh, extremely expensive assets, pieces of art, statues, ceramics, stuff like that that, that a lot of very wealthy folks in, in New York City own. Um, so the artwork is there. Currently we're gonna be moving it from effectively one vault to another fault, uh, and it will be insured there and safely secure or, or safely, uh, stored there as.

Um, I will also say though, that our long-term goals are not to just keep it kind of hidden away forever, right? So we're already, um, you know, we've created this 3D virtual gallery that we can talk about in a second to display the art to the folks who are investing in it. And that's step one. Long-term, we'd really like to have the physical assets be visible, uh, and visible, I guess, by people who own, uh, a portion of the asset itself.

So that's kind of phase two of what we're up to here. Uh, but we also know that you need to be very, very focused as a. .

**Alec Beckman:** Sure. Um, and I know that we have some things that are prepared, uh, to show. I think this would probably be a good [00:12:00] time to get into some of that. So, um, would you, would you want me to share the, the slides that I have here?

**Colin Johnson:** Um, sure. I mean, I'm also happy to just hop right into the live gallery. Okay. Yeah. While I share my

**Alec Beckman:** screen here. Yeah.

**Colin Johnson:** Absolut. I will go ahead and do that. Let me see if I can allow this to happen. Uh, can you see that? Yes. Can you see my screen here? Okay. You see, uh, American Gothic. All right, so, so this is the actual gallery itself, and just so everyone's aware, you won't have to come into the gallery to purchase the artwork.

Uh, obviously we're not gonna make it that restrictive. Um, but what happens is after you purchase a piece of art, you'll then have the opportunity to display it in your gallery. And this is where I. we're doing something that's fundamentally different from a lot of the other folks who are in the fractional space or the fractional art space, is we're trying to bring the essence of sort of ownership of being a collector to life.

Um, so you can see here, for [00:13:00] instance, as I navigate around that, we've got American Gothic hanging on the wall. Uh, and when I go in and click onto that, and this is just sort of a personal or public gallery that's available right now, all these artworks are, are in the public domain to be clear. Um, and what we've done is we've given some depth to it, right?

So the whole gallery's obviously, So we decided to make the pieces themselves 3D as well, uh, which you can see as I, I click and move this around. On the left side, on the right side, you can see a lot of the details about the actual painting, right? So who, who painted it, what the story is behind it, and then also the number of shares owned.

To be super clear, this is all. Dummy data right now. So this is not real ownership data, um, but you can see the number of shares or tokens that you own, how long you've owned it for, uh, what the market cap is, what the total number of shares is gonna look like. Um, and then you see I've got the screen here, uh, as well as Napoleon.

This is one of my favorites just cuz it's gigantic and fills up an entire wall. Um, so this artwork is all gonna be customizable, right? So you can imagine. , once you've purchased, let's just say you've got fractions of the first five [00:14:00] Warhols, you'll be able to display them all on the wall here, right? And you'll be able, you'll be able to decide where one should live next to the other.

We have some customization options as well, um, to bring frames in, uh, to the equation. Uh, this is one of my favorites here, actually by Gustav Clems. Um, uh, and then we also have a leaderboard. So if you take a look at the bottom right here, uh, it's in a little bit of a beta right now. We've got, you know, three months before actual.

And as a reminder, this is just a product feature. Um, but you can see that the leaderboard is actually scoring at the moment. This is based upon people's NFT collections. So folks can actually come in and connect their wallets and display their NFTs, and they'll be able to do that alongside the pieces of fine art, um, that I just called out before.

Uh, and we're scoring those NFTs as it stands, right. Um, , I may or may not have, uh, put myself at the top here, but we won't worry about that. This is based upon the number of NFTs you have in the rarity, right? Um, in the future though, you could imagine us giving a score based upon how many Warhols you own or how many Basquiats you own, or Picassos, the [00:15:00] rarity of those Picassos and the, the sort of extent of your collection.

Um, so that's something we're gonna be building out more and more so that we have, again, an engaging sort of investor's experie. Um, where you can actually sort of visibly engage with your, with your artwork rather than just seeing it as kind of a, a token or, or a number on an exchange. Uh, and that we think is gonna be one of the key differentiators.

Perfect. I'll stop

**Alec Beckman:** sharing. Hey, no, thanks for sharing that with us and hopefully. , uh, for the audience that, you know, looked as cool to you as it did to me and, you know, it was something that you would want to get involved with. So really quickly, I'd like to segue and I see that there's a lot of audience questions and we'll definitely get to those.

We'll definitely leave time for those. Uh, but I wanna understand, and I think the audience would like to understand how you are actually utilizing the digital assets component. I know that you mentioned that it's important to you that it's on chain, uh, but I wanted to, to get a good understanding from you of what are those different benefits that you [00:16:00] can use by being on chain, uh, and why is it so important to

**Colin Johnson:** you and Freeport?

Definitely, definitely. So the most fundamental one, and I don't want to like go above people's heads here and get all like gushy, PCI philosopher, but um, fundamentally when you look at any, any of the blockchains that are out there, they have a certain amount of value that's locked on them, right? We call it T B l, to total value locked.

The more value that's, that's locked on blockchains. The more effective they are and the more efficient that we become as humans at transferring value around. Because a blockchain at the end of the day is really just like a standard software protocol. Sorry. It's not just that, but that's one of the elements that makes it really cool.

So when you have something like. Uh, like a token that represents ownership or represents, you know, investment equity in a Warhol, let's just say, uh, at some point in the future you'll be able to just swap that natively on the blockchain. Right. You'll also, you'll be able to, um, to give you an example, if we wanted to token gate access to a digital museum where there's some fine art hanging.

Um, we can do that. We can say that only someone who [00:17:00] owns a token of this Picasso, as one example, can get into this digital experience because they will also have connected whatever their digital experience is to the blockchain. So there's a very fundamental difference in having value that exists on a blockchain that has a shared set of different protocols and sort of software, um, you know, uh, development, then having a assets that exist off chain.

And we believe that assets that exist off of, uh, off of the blockchain are gonna start to feel hollow over. Um, because they won't have this interoperability. The value won't be swappable, you won't be able to integrate it with different types of defi utility. Um, and there's, there's like a whole plethora of things that haven't even been developed that we can't even imagine right now.

Just like when the internet first came out and people said, Y you know, it's gonna be, I think Bill Gates had a quote about how the first 10 years, um, people are going to, uh, over, they're, they're gonna guess that things are gonna be a lot crazier. And then the 10 years after that, people are going to, uh, underestimate the impact that the Internet's gonna have.

It'll be similar to that on blockchain. I just completely butchered that quote. Um, but that's, [00:18:00] that's kinda like the philosophical part, right. Let's talk. Like brass t tax immediately, right. So, um, as soon as, as soon as someone has assets that live, um, on the Freeport platform. Uh, to give you just one example, uh, one of the things that we're building in is the ability to stake those tokens and to access liquidity from those tokens.

We may not have this right at launch, but you know, it's, it's baked into our offering circular. So it's, it's coming at some point in time. Um, you'll be able to just stake those tokens and instantly. Loans out right in U S D C that go directly to your wallet. Now, if you wanted to, uh, take your piece of art that exists, you know, on your wall right now and take out, you know, some form of liquidity against that asset, you'd have to go to the bank.

You'd have to wait for a few weeks, you'd have to get an appraisal, all, all kinds of other stuff. Uh, with blockchain and having the tokens live on blockchain, we're able to tap into anyone any other sort of defi developer who's allowing for collateralized lending protocol. Um, complicated way of sending, of saying loans, we'll be able to sort of tap into that, um, their APIs or the different ecosystems that already exist out there to allow for that lending [00:19:00] to occur.

Um, so that was a, a long-winded way of saying loans will be really, really easy and efficient right on blockchain because people are, are building out that, that technology. As another example I just showed you our gallery, um, you could imagine a world in which that gallery gets updated and the frames get updated and there are.

Uh, forms of that gallery that can come into existence, that can benefit from NFTs, for instance, that people may either earn elsewhere or that we develop ourselves. And because the NFTs, again, live on this standard sort of protocol, um, on the Ethereum blockchain, we'll be able to easily integrate those experiences with everything that we're building.

So again, there, there're gonna be a multitude of use cases that won't be there exactly at launch, uh, but that are gonna propagate over time. Uh, and again, people are gonna start thinking that value that doesn't interact well with other form forms of value on the blockchain just starts to feel hollow.

Perfect.

**Alec Beckman:** So I'm gonna ask one last question before we get to some audience questions. And audience, I highly encourage you [00:20:00] to, to ask whatever questions are in here. I see we already have two. Um, you know, we, we should have time to cover, uh, a good deal of them. So last question before we get to that. Would love to understand what it takes to actually.

Or, you know, issue these, uh, securities or pieces of art on a blockchain and kind of what steps you had to take in order to make that happen.

**Colin Johnson:** Yeah, there are, uh, there are pretty good reasons, uh, for a lot of folks to not go the reggae route. I'll say that. Um, but at the end of the day, it made a lot of sense for us, right.

So, Uh, effectively what you have to do is you take whatever the asset is and let's, let's just talk reggae, uh, sort of top level. You take whatever the asset is, you give it to an llc, and then you issue shares in that llc, right? And it's almost like for people who aren't familiar, it's kind of like a mini i p o almost, right?

So you have this entity, the sole asset of the entity in our case is going to be the piece of art. And then you issue shares in that entity. And by virtue of issuing those [00:21:00] shares, what you've done is you've really kind of fractionalized. Ownership of whatever that underlying asset is. I wanna be clear, it's actually not technically ownership, cuz you're investing in an equity asset, but it's it's the same from a financial perspective, let's just say that.

So this entity has those shares. You need those shares to be registered somewhere. Right? So that's where a transfer comes into play. We've actually chosen to use vert as our transfer agent because they allow. The other forms of utility that I was mentioning before to occur in addition to being the transfer agent.

So they're sort of the, the ultimate system of record, let's just say. And then you also need to have an ATS for a secondary exchange. Right? And the ATS basically allows for order matching. When someone says, I want to buy something and someone else says I wanna sell something, the ATS allows for those two people to sort of connect.

Um, and there are ATSs that are actually s e c qualified, um, that, you know, you need to work with when you're, uh, going through the reggae process. And then there's also a broker. And you can think of broker dealers as, as sort of the people who used to be required on the stock market [00:22:00] floor when people were, were issuing trades.

Um, that, that sort of legacy requirement has, uh, moved into, into the future that we currently exist in. Uh, and broker dealer requirement as well to make sure that everything that you're doing, uh, from a sort of issuing and a trading perspective, um, is, is up to par, is up to snuff. So, uh, we've had to ensure.

We found all the right partners for those three elements of our tech stack. Um, and we found the right partners that would allow us to create Freeport, uh, as a seamless sort of, um, a seamless platform without needing to be pushed out to some other type of exchange or without needing to, uh, actually set up an account, let's just say, with a transferation or anything of that sort.

Um, and that's why I think it's gonna feel really magical at the end of the day because we have all of the s E C. , uh, tech fundamentals occurring on the backend, but then just the Freeport experience on the front end, right? Where it's as simple as possible to onboard, to purchase and then you actually get to engage, uh, with the assets that you've invested in, in a much [00:23:00] more tactile way.

Perfect.

**Alec Beckman:** So we have some questions from the audience here, and I think what we'll do is we'll start with Daniel and Scott's questions and then move into Zigs questions. By the way, Zig, great question. Um, and I think a lot of, uh, what we'll cover is under that Reggae Plus. We'll probably just get more granular and specific about what that is and what steps are being taken, uh, to be compliant through the s e c.

Uh, but the first question from Daniel is how are decisions about the use maintenance lending or disposition of the art?

**Colin Johnson:** Uh, yeah, great question. So we have full Freeport, we will have full managerial control over those decisions. Um, we've, we've looked at, and we may in the future implement a policy where, Uh, folks who invest will have the ability to vote on whether or not to accept, let's just say a buyout offer, which will be another fundamental aspect of Freeport.

Um, for now we just have it all in the manager's hands. And the reason for that is, [00:24:00] is twofold. One is, um, it's easier for the s e C to sort of regulate one body that's making decisions rather than, rather than multiple. Um, and the other. Uh, we don't want to get into some situations, especially early on before we've set up a, a sort of strong foundation and people understand the assets, where we have a lot of competing voices.

Um, and we end up in some sort of, you know, deadlock where, um, things can't get done to the benefit of our customers. So at the very start, we'll be the managers, but again, I mentioned this before, we're very much of the ethos of web three. We like the idea of customers being able. Um, to vote on whether or not an asset should be sold, for instance.

Um, but right now it's, it's just us and once we sort of, you know, tame the cat a little bit here, uh, I, I think we'll be in a better shape to, to make decisions like that.

**Alec Beckman:** Perfect question from Scott. Will there be a 90 day cool down period, otherwise known as a seasoning period after the offering closes and when the secondary market will.[00:25:00]

**Colin Johnson:** Uh, legally we won't have to do that. So legally with reggae, you do not have to have that, uh, that cool down period. That being said, um, we are creating something new here, right? So we're gonna have our primary issuance, we'll need to make sure that everything settles properly, that all the funds that sort of entered escrow are being managed properly.

So there will be a lag between when the primary issuance occurs and the, the secondary, uh, market opens up. Um, but it's not a legal sort of requirement that's gonna be, uh, an operational and technical, uh, sort of buffer. Sure.

**Alec Beckman:** Okay, so we will move into Zigs four questions. Uh, so the first one is, uh, is there a reason you elected to fractionalize ownership of an asset as opposed to housing a single or multiple assets in an S P V and have investors purchase shares in that SPV v.

Uh,

**Colin Johnson:** so that would be another, another [00:26:00] approach for sure. But as you saw, we are interested in bringing to. Uh, like the collectors aspect of this, right? So you, you saw that we're going to have a gallery where people are, are gonna be able to rearrange kind of the individual, um, the individual pieces that, that they've invested in.

Um, if we had something like an S P V or, or just like an art fund, which other people are doing, and I think some of the exchanges. May already have some art funds on them right now. Um, it becomes much harder to bring that collector's experience to life. So some folks who are familiar with Web three and, and NFTs, um, will know that there are these communities that are sort of fostered around whether or not someone owns an asset and people like to comment on other, other folks' collections, and they're very proud of the collections that they own.

it's hard to bring those elements to life. And we think those are some of the most fun elements of owning things, right, or, or of investing in things is that you can have a community. Um, actually when I describe Web three, uh, to friends and family and anyone else who will listen to me, uh, I [00:27:00] oftentimes will say what's cool about it is that you get to.

Combine all the fun aspects of investing and sort of making money. Oh, this is not a guarantee. You'll make money to be clear, but investing and making money with having fun. So, so a lot of elements are sort of gamified in web three or, or socialize in such a way that, uh, you take part in a community every day.

Um, and there's some degree of sort of fun in that, right? Of not just everyone owning everything, but of a select group of people owning a thing. And you're then able to relate to that select group of people. Um, so that just becomes harder to foster. An environment like that on an ongoing basis, if it's a purely, um, uh, I don't know, like broad spectrum investment vehicle.

Perfect.

**Alec Beckman:** Uh, so will you be providing a service for sole owners of artwork to offer it to investors for a control percentage of fractionalization determined by the owner?

**Colin Johnson:** So, uh, yeah, so we've looked into that. Um, effectively, yes, this is something that we'll [00:28:00] do in the future. It becomes harder when the original owner retains more than 20% of the asset, and I think if the original owner retains 10% or less.

Then they still are able to, um, trade on the secondary market if you, let's just say are the original owner and you want to retain more than 10%, and I believe there's a cool off period before you can actually sell your assets. But at the end of the day, yes, like we, we don't have to sell. Uh, if someone wants to come and give us a piece of art that, that they'd like to sell, uh, they don't have to sell the full thing.

But at the end of the day, um, we do have managerial control and we are always gonna be looking out for, for our customers, right? And, and ensuring that the customers who who invest are gonna get. The best possible outcome. Um, so there's not gonna be a, so to give you an example, there won't be a situation where someone can just hang a piece of art on their wall and have people give them 20% of the value and then they in perpetuity get to sort of hold that art on their wall.

Uh, and, and they just had access to that liquidity. Um, we'll always need to [00:29:00] have the ability to resell the asset, and this is critically important to us, such that we can make money for our investors. Um, so having that secondary moment of sale of commerce, as we call it, is, is gonna be. .

**Alec Beckman:** Great. So how are you ensuring, uh, or how are you assuring you are in compliance with the s e C regulations since it seems like a lot of regulation is forthcoming, and I think this is a great time to talk about what a Reggae Plus is, kind of what you're doing and some of the compliance measures that you have to take, uh, in order to satisfy those

**Colin Johnson:** requirements.

I love this question because it justifies the last nine months of work that we put in . Uh, so yeah, so we are taking a. That effectively, it doesn't guarantee that we're not going to be enforced upon by the S E C, but all the enforcement actions that are occurring are specifically occurring to organizations that did not go the route that we're taking.

So you can either choose to go the reggae route, and by the way, there are a bunch of, there's Reg D and there, there are a bunch of other approaches that you can take to securitize things. [00:30:00] Um, but we specifically chose the reggae route because we didn't want to deal with enforcement because we knew that it was coming.

This is even before ft. And a lot of other crazy thing, and like Tara and, and a bunch of other crazy stuff happened, we opted to go this route because we kind of saw the writing on the wall, um, that enforcement was coming and that the s e c could use the existing rules in place without needing to issue.

Uh, any new laws or any new policies, um, and we didn't want to end up in that camp right where we were just in some gray area with an offshore organization that was promising its customers, it was holding the assets somewhere like that's, that's the opposite of what Freeport is and stands for. So, um, because we chose to go the reggae route, we're very, very unlikely to be, I mean, it's almost impossible for us to be enforced upon so long as we.

Um, what was submitted in our offering, circular, right. Um, so that's, that's actually the benefit of going the reggae route is that we're not going to end up, there are a lot, I'll just say this, there are a lot of web three organizations right now that are looking at what they've done over the past year and a half or two years, and [00:31:00] are probably pretty concerned that s e c enforcement is coming because they opted not to go this route.

Um, a lot, a lot of the value to be frank, that has been created in web three has been through regulatory capture, and by that, People who are basically able to not follow, follow regulations and, and not pay both in time and money in order to follow those regulations. And therefore you can have really cool, uh, tokens that just accrue tons of value because, you know, they're, they're not having the, uh, the burden of those things.

And to some degree I can, like, I can respect that and like there's some argument that. Uh, web three and decentralization shouldn't be, um, as regulated because the code is almost regulation in and of itself as some other orgs. But, um, yeah, a a lot of the folks who opted not to go reggae are gonna be concerned, uh, currently.

Right. So what I would recommend for folks who are considering doing this, if there are any on this call, is um, at least do your research and chat with lawyers before you make a decision to, uh, to go [00:32:00] the reggae route or not to go the reggae route.

**Alec Beckman:** Sure. As timely and as difficult as the reggae plus, uh, route can be.

Uh, I think it's really cool and, and it's a, it's a testament to what Freeport is looking to do, and that's really opened it up to every investor. A lot of private investments. And one of the, I guess, big. , uh, preventative measures is that they're usually only available to accredited investors. I believe it was something along the lines of 98% of all private offerings last year were done under Reg D, which is only available to accredited investors.

Um, so just a testament to what Freeport is doing and trying to, to open it up, and that is, I think, part of the. Of using blockchain and using some of these cool tools, uh, and some of the, the new s e c guidelines, which are, uh, attempting to make it easier as a non-accredited investor to participate in, in some of these, uh, really cool offerings.

Um, yes. So, yeah, I Do you wanna add [00:33:00] anything onto that, Colin?

**Colin Johnson:** Uh, well, one of, yeah. I mean, one of the coolest parts of all of this is that like you can imagine a world where, um, all of the expensive. on Planet Earth is owned by like a few thousand people, which is pretty close to the case right now. Uh, maybe not a few thousand, but a pretty small pool of people.

And then you can imagine a world wherein, um, all of the art that's on earth is sort of, you know, people own equity in it. At least, I can't formally say ownership, but people own equity and are able to get exposure to this asset class. and it will be millions and millions of people, right? Like the entire American public, um, you know, that's over 18 years old that's able to legally purchase securities will be able to, uh, have access to this artwork.

Right? Uh, and that's, that's a much better world to live in, I think, uh, than one where it's just sort of tucked away and, and exclusively owned by the ultra rich.

**Alec Beckman:** Absolutely. And then the last, uh, question from Zig here, before we get into Florian's questions, uh, is there any recourse for investors on the.[00:34:00]

**Colin Johnson:** uh, any recourse for investors? Uh, that I think that assumes something bad happens. . Uh, so, um, it depends on, on, I guess, what they mean by, by that question. Uh, there there's a lot of, a lot of interpretations. Well, I think

**Alec Beckman:** one of the things that you brought up to me, uh, earlier when we, when we had a little run through was the insurance aspect on the, on the art, and just making sure, oh, yeah.

So

**Colin Johnson:** maybe you wanna, so, so the, the art is, the art is absolutely, um, is, is fully insured. Uh, that's actually part of the package and storing it in the gr it's fault style place, uh, where it's going to be, where it's going to be stored. Um, and then I would also say, One critical element is that we have the ability to remediate, right?

So if someone comes and seals your bored ape right now, uh, for, for those who maybe bored ape owners, you're kind of screwed, right? You're, you're a little bit. So l um, if for some reason you get hacked and someone takes the tokens, uh, your Freeport tokens, , which would be very, very difficult to do given the type of tokens [00:35:00] that they are.

We have the ability to remediate, right, to ensure that only the people who are getting, the only people who are getting paid out at the end of the day when the resale occurs are the people who are sort of the rightful owners. Um, and that's by virtue of some of the regulations that are in place and enforced by the S e c.

So, uh, remediation and sort of security in what we're doing relative to the rest of the, uh, cryptos sphere is just way, way. .

**Alec Beckman:** Mm-hmm. . Yeah. And one of the rules, by the way, written all the way back in 1940, uh, under the 40 Act, which is a little, you know, they couldn't have foreseen all the digitization of, of ownership.

Uh, but it's the abil, it's the notion that you can't physically lose a security. Uh, so all of the, the. One of the ways that we're using blockchain in this case, and one of the ways that Freeport is using it, uh, by using a transfer agent, by using broker dealers, by using these necessary parties, is to make sure that it satisfies all of these different rules that are laid out.

Um, so all of it is compliant, uh, [00:36:00] and I think Freeport has done a wonderful job of, of, you know, using compliance to their. . Um, so moving on really quickly to Florian's, uh, question. Are you, which by the way, uh, ties directly into what we were just talking about. Are you running the ATS and the BD as well, or are you partnering with

**Colin Johnson:** someone for that?

Uh, we are partnering, uh, with, with folks for that. So, uh, as far as I, I'll just give our secrets away here a little bit. So, so we're working with, uh, north Capital and Dal. Uh, who interestingly are also the folks that, um, rally Road uses off chain. Uh, but because of some of the technology that we're developing with, with vio, actually, uh, in conjunction with Vitello, uh, we can let them, uh, do trade matching off chain, uh, and then have it be sort of settled on chain.

So there's a really, really interesting, um, approach there and, and maybe a, a use case to be discussed at a later point in time. . [00:37:00] Um, uh, so yeah, so for the time being, we are not doing that. You could imagine a future, and I do imagine a future where regulation catches up and where decentralized exchanges actually allow for the transfer of reggae securitized tokens.

I think what's really holding it up currently is that. Uh, the owners on both sides need to be KY CD and any money transfer needs to, to go through a m l. Um, and also it's just a time thing, like people need to decide, they wanna put the effort in to build it. And Securitize tokens have not been the focus of the cool defi things that, that exist, although there are one or two networks that are coming.

Um, so yeah, so for the time being, we're certainly using other partners. Our other partners are fantastic and they're. Support us. But I do imagine, again, this future where, um, where regulation catches up to the state of technology and it, it could become much more peer-to-peer, let's just say. Amazing.

**Alec Beckman:** Um, so Florian also asked, would you expect market makers to participate to support liquidity?[00:38:00]

**Colin Johnson:** Uh, this is an excellent question. So liquidity is one of like the main benefits of getting into, uh, web three or, or, or one of the main benefits of tokenizing rather, let's just say, um, we are not going to use or not going to have any market makers at the outset. Um, I think that does start to get really, really interesting when we allow for LP and when the regulation gets there, as I just mentioned, with different defi protocols, um, such that the public can basically be the, the liquidity providers.

Um, it's a little bit more difficult to do at the scale we're starting with currently. Um, and I don't think the benefits get there until we're at, you know, let's call it our first 50 pieces or a hundred pieces. It's certainly something that's top of mind for us, right. Liquidity is good for everyone.

there, there's more volume, there's more sort of confidence in the actual underlying asset itself. Um, just more protections for investors and everyone feels better about a market with, with high, with high liquidity. Um, so it's certainly a topic that, uh, we'll be focusing on over time, [00:39:00] but it won't, we won't have market makers at the onset.

**Alec Beckman:** Perfect. And, uh, the last question from the audience, unless, uh, anyone else wants to put in anything, uh, have you already filed your one a.

**Colin Johnson:** Oh yeah. Uh, so we filed back in mid-December, uh, and we actually already have our first response from the s e c, so we're actually, we're well ahead of schedule. Um, now we put many, many months into making sure that our submission was, was kind of airtight, um, which is helpful, which I think is part of the reason that we got such a, such a positive response.

But yeah, we'll, we'll likely be approved and ready to launch. And I'm knocking on wood over here, and I'm not guaranteeing it, but likely approved and ready to launch. Uh, within the next two months, sorry, approved in the next two months, there's more to build, so ready to launch sometime around mid-April.

**Alec Beckman:** Perfect. Um, so really quickly, and I have a couple last wrap up questions, but I wanted to make sure that I was able [00:40:00] to share this disclaimer. , um, just for compliance purposes. Very important. Yes. So everybody in the audience can understand that, um, you know, what, what they're doing from a tier two, uh, of reg A standpoint.

And, um, just understanding, you know, just, or passing along the compliance requirements. And I'll keep this up for another second so everybody can read the, the very exciting text written in here. And .

**Colin Johnson:** One thing we're doing on our website, by the way, is at least with our terms, we have the full sort of terms and conditions, and then we have like a translation of the terms and conditions.

So it's like, hey, these are what the terms are, this is what they mean in like two or three sentences. We haven't tried to do that with this yet because we don't wanna, uh, test the waters too much. No, no pun intended there or pun intended there. Um, but yeah, like the thing, one thing to be aware of with, with anything reggae or, or anything s e c related.

Um, there are hurdles like this and [00:41:00] that over time we expect those hurdles to be lessened as we get better, and frankly, as the s e C gets better and better at understanding what the risks are. Um, and, and like this is the kind of thing that, uh, you wanna communicate to your customers that yes, there's all this language here and it's sort of this like required and obligatory language, but it really only means X, Y, or Z.

Um, so, so if you think through what this is actually saying, it's, it's not too.

**Alec Beckman:** Exactly. Um, so other than that, we do have these product hunt slides. I don't know if you want to go over them. I've got a couple more questions. What do you think, uh, you would wanna do, Colin?

**Colin Johnson:** I think so the product hunt, just so, so folks are aware, we launched the gallery feature on Product Hunt.

Uh, and that's the feature where you can actually kind of customize, um, customize the frames, customize the positioning of your artwork, see what it looks like to drop. Some fine masterworks, uh, of your in there. Um, but we kind of walked through a lot of the actual gallery itself there in real time. So, you know, we [00:42:00] probably don't need to, uh, to get too in depth here, but yeah, feel, feel free to flash through though.

Perfect. So, and we will be, we'll be doing another launch on Product Hunt when we properly actually have, have the assets a. Um, but we wanted to get the gallery out there just because it's a really fun, sort of interactive element to the overall experience of investing in artwork. Um, and so far it's proven to be a big hit.

Perfect.

**Alec Beckman:** Um, so last question, and I would just be remiss if I, if I didn't ask you. , um, you know, cause I've had the pleasure of working with the Freeport team, by the way, beyond Colin. They've got a wonderful team. Uh, all very sharp people, some of the smartest people in the industry. Uh, but I know that you also had some help.

Uh, so I would love to, to hear from you how you felt that our company Security Token Advisors has helped you, uh, with this whole process.

**Colin Johnson:** There's, uh, , SSTA was a very good investment for us. I'll just say [00:43:00] that. So there's, there's a navigation Pro problem, right? Once you decide, okay, uh, I'm gonna go the reggae route, uh, I think that this is what makes the most sense to us.

Um, and you've gone through all the legal legwork and all the, the sort of difficult decision. , that's kind of just the beginning, right? Then, then you get into this like, um, it can be treacherous at times, but it's, it's almost this, uh, this maze that you need to get through, right? And it's like, who's gonna be my transfer agent?

Who's going to be, uh, the ats? Who's going to be the broker dealer? Who's gonna accept the payments that, that I want to be accepted? Like, who's gonna manage K Y C and a, and like, which of these different partners are actually integrated with one another? All those question. Are difficult, there's not just like a master book anywhere.

Um, and s t a was super, super useful and fundamental in sort of fostering relationships with the different players, uh, that are gonna be in our tech stack. Um, uh, allowing us to know what can, and, or sorry, what is possible and what is not possible. And then we would push back and say, well, no, we need to make some new things possible.

Uh, [00:44:00] so I recommend everyone do that too, but without, without honestly ST's help, we probably would've taken. Month or month and a half to do all the things that, that we needed to get done just from a research perspective and from understanding who, who the partner should be to allow for a really excellent front end experience.

So, uh, I, I do recommend the crew and Alec did not pay me to say that. ..

**Alec Beckman:** Well, I appreciate that very much. Um, and I think the, the last question, well, really quickly, Scott had one last question, uh, which is, are these only going to be ETH based NFTs that can connect to the gallery?

**Colin Johnson:** Um, so first they're not NFTs.

Oh, sorry. Only got it. That can connect to the gallery. Um, so for right now, yes, if you wanna display your NFTs alongside the fine art, that's gonna be fractionally available via Freeport, uh, it's just Ethereum. Um, that may change at some point in the future. We're, we don't wanna make any promises, uh, as to, as to which.

Uh, pieces of art or digital art may be available, but what I will say [00:45:00] is we are building out the fundamental underlying infrastructure to allow people to, um, connect a wallet. And we can actually save the, sort of the contents of that wallet and then potentially connect another wallet and we can save those in our database.

So the way that we've structured it is such that we could, at some point in the future, allow for cross wallet N F T display. Um, and that sounds, I know, pretty appetizing to folks. We're not there at the moment. We need to make sure that we build out the best possible customer experience for, for our first collection.

But, um, we're thinking about it. I'll say that.

**Alec Beckman:** Perfect. And then the last thing that I wanted to hit, and thank you so much, Colin, for all of your time today and just the, the wonderful explanations, thank you to the audience for all these great questions. I hope that you were able to learn a lot about Freeport.

Uh, it's a very important project to the ecosystem. It's a very important project to me personally. Um, you know, I've, I've become very close with the team and I just see the vision that they're working. . Um, and so we wanted to put it out there and let the world know what's going on. [00:46:00] Uh, so the next, the, the final question really is how can people get involved?

Um, and I'm going to put this wait list on here right now and share it with everybody, but go ahead, Collin. Tell everybody how they can get involved.

**Colin Johnson:** That is a convenient little. Piece of customer experience there. Um, uh, so they can go to freeport.app. The easiest way to get involved is to go to freeport.app.

Add your name to the wait list. Uh, we'll be sending out communications there, especially as we get closer to launch. Promise not to spam you. Uh, they can also go follow us on Twitter. Um, we've been, you know, a bit more active there in, in recent days. We also have an Instagram account that's kind of fun if people are into the AI revolution.

Uh, we've been doing this thing where we, we take, you know, an old masterwork piece of art. We describe it, uh, we describe it to Dolly or mid journey or stable diffusion, depending on, you know, what we're interested in in that day, and we see what the. . So our Instagram has a lot of fun little comparisons between actual human artists and AI artists.

Um, so they [00:47:00] can follow us there, but both of those links are on freeport.app. So, so that's where I would start. And folks can also expect a, uh, an updated landing page that has the actual pieces of art coming soon. So don't mind, uh, the fact that it's relatively limited right now. Perfect.

**Alec Beckman:** So you heard Colin three months we're expecting the launch and just really looking forward to it.

Um, you know, feel free to reach out to me if you have any other questions or when I get connected with the team. Uh, I'll put my email into the chat. Colin, whatever information you wanna put into the chat, I think that'd be. . Uh, but this has been, this has been great. Any, uh, any last words you'd like to leave the audience with Colin?

**Colin Johnson:** No, uh, very, very happy to be here. So I guess I do have a few, uh, last words. , thank you for inviting us. Thank you for all the, the help that you've given us. If people are, um, curious about the space and about the difficulties that we've been through over the past nine months, they should feel free to reach out, [00:48:00] shoot me an email.

Uh, I'm happy to, to help other people moving into the space. I think. Competition is not the concern right now. The concern is navigating and sort of creating a world that, uh, that encourages customers to feel safe and secure in the web three space. So, um, yeah, feel free to reach out, visit us@freeport.app and uh, thanks for having us.

Perfect.

**Alec Beckman:** Thank you everyone. I hope you have a great night. Bye.

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

## FORM 1-A

### REGULATION A OFFERING STATEMENT
### UNDER THE SECURITIES ACT OF 1933

### Item 1. Issuer Information

**Exact name of issuer:** Freeport Holdings Series LLC

**Jurisdiction of Incorporation/Organization:** DE

**Year of Incorporation:** 2022

**CIK:** 0001946910

**I.R.S. Employer Identification Number:** 88-3850992

**Primary Standard Industrial Classification Code:** 7380

**Total number of full-time employees:** 0

**Total number of part-time employees:** 0

**Address of Principal Executive Offices:** 1181 Nixon Drive #1009, —, Moorestown, NJ 08057

**Company Phone:** 212-655-5091

**Person to contact:** Andrew Stephenson

### Financial Statements

**Balance Sheet Information**

| Metric                                   | Amount   |
|:---|:---|
| Cash and Cash Equivalents                | $0.00    |
| Investment Securities                    | $0.00    |
| Accounts and Notes Receivable            | $0.00    |
| Property, Plant and Equipment (PP&E)     | $0.00    |
| Total Assets                             | $0.00    |
| Accounts Payable and Accrued Liabilities | $0.00    |
| Long-Term Debt                           | $0.00    |
| Total Liabilities                        | $0.00    |
| Total Stockholders' Equity               | $0.00    |
| Total Liabilities and Equity             | $0.00    |

**Statement of Comprehensive Income Information**

| Metric                                    | Amount   |
|:---|:---|
| Total Revenues                            | $0.00    |
| Costs and Expenses Applicable to Revenues | $0.00    |
| Depreciation and Amortization             | $0.00    |
| Net Income                                | $0.00    |
| Earnings Per Share - Basic                | 0.00     |
| Earnings Per Share - Diluted              | 0.00     |

**Auditor Information**

| Metric          | Amount                          |
|:---|:---|
| Name of Auditor | Turner, Stone & Company, L.L.P. |

### Outstanding Securities

| Class                  |   Outstanding | CUSIP     | Publicly Traded   |
|:---|---:|:---|:---|
| Series Warhol AWMICKEY |             1 | 000000n/a | n/a               |
| n/a                    |             0 | 000000n/a | n/a               |
| n/a                    |             0 | 000000n/a | n/a               |

### Item 2. Issuer Eligibility
- [x] The issuer certifies that all of the statements in this part are true.

### Item 3. Application of Rule 262
- [x] The issuer certifies that it is not disqualified and has not been involved in any disqualifying event.

### Item 4. Summary Information Regarding the Offering

**Tier:** Tier2

**Financial Statement Status:** Audited

**Type of Securities Offered:** Equity (common or preferred stock)

**Is this a delayed or continuous offering?** Yes

**Was or is the offering to take place within one year after qualification?** Yes

**Was or is the offering to commence within two days after qualification?** No

**Is this a best efforts offering?** Yes

**Was there any solicitation of interest?** Yes

**Are there any resale securities by affiliates of the issuer?** No

**Offering Amounts**

| Description                                                     | Amount      |
|:---|:---|
| Number of securities offered                                    | 50000       |
| Number of securities outstanding                                | 5           |
| Price per security                                              | $45.25      |
| Issuer's aggregate offering price                               | $2262700.00 |
| Aggregate offering price of securities held by security holders | $0.00       |
| Aggregate price of securities offered concurrently              | $0.00       |
| Total aggregate offering price                                  | $2262700.00 |

**Anticipated Fees**

| Service Provider   | Name                            | Fees      |
|:---|:---|:---|
| Auditor            | Turner, Stone & Company, L.L.P. | $4000.00  |
| Legal              | CrowdCheck Law LLP              | $60000.00 |
| Promoters          |  |  |

**Estimated Net Proceeds to the Issuer:** $2163000.00

### Item 5. Jurisdictions in Which Securities are to be Offered

AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, DC, PR