# EDGAR Filing Document

**Accession Number:** 0001820469
**File Stem:** 0001670254-25-000642
**Filing Date:** 2025-6
**Character Count:** 120759
**Document Hash:** daaf7b38075214cfc10a61ca995ffabe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001670254-25-000642.hdr.sgml**: 20250606

**ACCESSION NUMBER**: 0001670254-25-000642

**CONFORMED SUBMISSION TYPE**: C-AR

**PUBLIC DOCUMENT COUNT**: 10

**CONFORMED PERIOD OF REPORT**: 20241231

**FILED AS OF DATE**: 20250606

**DATE AS OF CHANGE**: 20250606

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Groomit Inc.
- **CENTRAL INDEX KEY:** 0001820469

**ORGANIZATION NAME:**
- **EIN:** 844294485
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** C-AR
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-26783
- **FILM NUMBER:** 251029644

**BUSINESS ADDRESS:**
- **STREET 1:** 1091 YONKERS AVE
- **STREET 2:** YONKERS
- **CITY:** YONKERS
- **STATE:** NY
- **ZIP:** 10704
- **BUSINESS PHONE:** 5106982462

**MAIL ADDRESS:**
- **STREET 1:** 1091 YONKERS AVE
- **STREET 2:** YONKERS
- **CITY:** YONKERS
- **STATE:** NY
- **ZIP:** 10704

## Ex-99

### Attached PDF Documents

**Attachment 1:** `document_1.pdf`

# Annual Report

## Cover Page

Name of issuer:
Groomit Inc.

Legal status of issuer:
Form: Corporation
Jurisdiction of Incorporation/Organization: DE
Date of organization: 1/1/2020

Physical address of issuer:
1091 Yonkers Ave
Yonkers NY 10704

Website of issuer:
http://www.groomit.me

Name of intermediary through which the offering will be conducted:
Wefunder Portal LLC

CIK number of intermediary:
0001670254

SEC file number of intermediary:
007-00033

CRD number, if applicable, of intermediary:
283503

Current number of employees:
20

|  | Most recent fiscal year-Prior fiscal |  |
| --- | --- | --- |
|  | end: | year-end: |
| Total Assets: | $1,768,737.00 | $2,030,611.00 |
| Cash & Cash Equivalents: | $10,405.00 | $76,565.00 |
| Accounts Receivable: | $1,071.00 | $0.00 |
| Current Liabilities: | $2,776,274.00 | $1,585,148.00 |
| Non-Current Liabilities: | $3,974,342.00 | $3,785,178.00 |
| Revenues/Sales: | $7,401,985.00 | $5,888,841.00 |
| Cost of Goods Sold: | $3,745,308.00 | $3,191,034.00 |
| Taxes Paid: | $0.00 | $0.00 |
| Net Income: | ($1,809,015.00) | ($1,798,829.00) |

Select the jurisdictions in which the issuer intends to offer the securities:

AL, AK, AZ, AR, CA, CO, CT, DE, DC, 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, BS, GU, PR, VI, 1V

## Offering Statement

Respond to each question in each paragraph of this part. Set forth each question and any notes, but not any instructions thereto, in their entirety. If disclosure in response to any question is responsive to one or more other questions, it is not necessary to repeat the disclosure. If a question or series of questions is inapplicable or the response is available elsewhere in the Form, either state that it is inapplicable, include a cross-reference to the responsive disclosure, or omit the question or series of questions.

Be very careful and precise in answering all questions. Give full and complete answers so that they are not misleading under the circumstances involved. Do not discuss any future performance or other anticipated event unless you have a reasonable basis to believe that it will actually occur within the foreseeable future. If any answer requiring significant information is materially inaccurate, incomplete or misleading, the Company, its management and principal shareholders may be liable to investors based on that information.

# THE COMPANY

1. Name of issuer:
Groomit Inc.

3. Has the issuer or any of its predecessors previously failed to comply with the ongoing reporting requirements of Rule 202 of Regulation Crowdfunding?
☑ Yes ☐ No

Reason for failure to comply:
Delayed filing

# DIRECTORS OF THE COMPANY

4. Provide the following information about each director (and any persons occupying a similar status or performing a similar function) of the issuer.

| Director | Principal Occupation | Main Employer | Year Joined as Director |
| --- | --- | --- | --- |
| Lars Rissmann | COO | Groomit | 2020 |
| Anna Zege | VP Quality Control | Groomit | 2020 |
| Faez Kapadia | VP | Groomit | 2025 |
| Sohel Kapadia | CEO | Groomit | 2020 |

For three years of business experience, refer to Appendix D: Director &amp; Officer Work History.

# OFFICERS OF THE COMPANY

5. Provide the following information about each officer (and any persons occupying a similar status or performing a similar function) of the issuer.

| Officer | Positions Held | Year Joined |
| --- | --- | --- |
| Lars Rissmann | Vice President | 2020 |
| Faez Kapadia | VP | 2025 |
| Sohel Kapadia | President | 2020 |

For three years of business experience, refer to Appendix D: Director &amp; Officer Work History.

INSTRUCTION TO QUESTION 5: For purposes of this Question 5, the term officer means a president, vice president, secretary, treasurer or principal financial officer, comptroller or principal accounting officer, and any person that routinely performing similar functions.

# PRINCIPAL SECURITY HOLDERS

6. Provide the name and ownership level of each person, as of the most recent practicable date, who is the beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power.

| Name of Holder | No. and Class of Securities Now Held | % of Voting Power Prior to Offering |
| --- | --- | --- |
| Anna Zege | 2087000.0 Common Stock | 34.57 |
| Sohel Kapadia | 2087000.0 Common Stock | 34.57 |

INSTRUCTION TO QUESTION 6: The above information must be provided as of a date that is no more than 120 days prior to the date of filing of this offering statement.

To calculate total voting power, include all securities for which the person directly or indirectly has or shares the voting power, which includes the power to vote or to direct the voting of such securities. If the person has the right to acquire voting power of such securities within 60 days, including through the exercise of any option, warrant or right, the conversion of a security, or other arrangement, or if securities are held by a member of the family, through corporations or partnerships, or otherwise in a manner that would allow a person to direct or control the voting of the securities (or share in such direction or control - as, for example, a co-trustee) they should be included as being "beneficially owned." You should include an explanation of these circumstances in a footnote to the "Number of and Class of Securities Now Held." To calculate outstanding voting equity securities, assume all outstanding options are exercised and all outstanding convertible securities converted.

# BUSINESS AND ANTICIPATED BUSINESS PLAN

7. Describe in detail the business of the issuer and the anticipated business plan of the issuer.

For a description of our business and our business plan, please refer to the attached Appendix A, Business Description &amp; Plan

INSTRUCTION TO QUESTION 7: Wefunder will provide your company's Wefunder profile as an appendix (Appendix A) to the Form C in PDF format. The submission will include all Q&amp;A items and "read more" links in an un-collapsed format. All videos will be transcribed.

This means that any information provided in your Wefunder profile will be provided to the SEC in response to this question. As a result, your company will be potentially liable for misstatements and omissions in your profile under the Securities Act of 1933, which requires you to provide material information related to your business and anticipated business plan. Please

review your Wefunder profile carefully to ensure it provides all material information, is not false or misleading, and does not omit any information that would cause the information included to be false or misleading.

# RISK FACTORS

The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature.

These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.

8. Discuss the material factors that make an investment in the issuer speculative or risky:

Someone else copies the same business model and offers better incentives to pet groomers and less pricing to users

We may not able to manage supply (recruiting of pet groomers) and demand (not able to get awareness and users on platform)

Change &amp; updates of state regulations like independent contractors/employee and new implementation licensing of groomers could impact our business and affect our unit economics.

The existing markets revenue may remain flat or growth could slow down, and we may not able to open additional market due to lack of funds.

The company has significant liabilities of varying maturities which will eventually need to be repaid. Future investor funds or operating capital could be used to repay those debts.

The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company's assets or profits and have no voting rights or ability to direct the Company or its actions.

Our future success depends on the efforts of a small

management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.

INSTRUCTION TO QUESTION 8: Avoid generalized statements and include only those factors that are unique to the issuer. Discussion should be tailored to the issuer's business and the offering and should not repeat the factors addressed in the legends set forth above. No specific number of risk factors is required to be identified.

# Ownership and Capital Structure

## DESCRIPTION OF ISSUER'S SECURITIES

17. What other securities or classes of securities of the issuer are outstanding? Describe the material terms of any other outstanding securities or classes of securities of the issuer.

| Class of Security | Securities (or Amount) Authorized | Securities (or Amount) Outstanding | Voting Rights |
| --- | --- | --- | --- |
| Common Stock | 10,000,000 | 6,036,459 | Yes ☑ |

| Class of Security | Securities Reserved for Issuance upon Exercise or Conversion |
| --- | --- |
| Warrants: | Total Pool: Issued: |
| Options: | Total Pool: Issued: |

24. Describe the material terms of any indebtedness of the issuer:

| Loan |  |
| --- | --- |
| Lender | Pradeep Patel |
| Issue date | 07/18/17 |
| Amount | $100,000.00 |
| Outstanding principal plus interest | $100,000.00 as of 07/30/20 |
| Interest rate | 12.0% per annum |

Maturity date 12/31/21

Current with payments Yes

Pradeep Patel

## Loan

Lender Komal

Issue date 11/17/21

Amount $250,000.00

Outstanding principal plus interest $282,000.00 as of 12/30/24

Interest rate 12.0% per annum

Maturity date 12/31/25

## Loan

Lender Itria

Issue date 09/07/23

Amount $100,000.00

Outstanding principal plus interest $29,166.00 as of 12/30/24

Interest rate 15.0% per annum

Maturity date 09/08/25

Current with payments Yes

## Loan

Lender Sajeda

Issue date 09/30/23

Amount $300,000.00

Outstanding principal plus interest $307,500.00 as of 12/30/24

Interest rate 15.0% per annum

Maturity date 12/31/25

## Loan

Issue date 01/29/24

Amount $226,250.00

Outstanding principal plus interest $131,229.00 as of 12/30/24

Interest rate 15.0% per annum

Maturity date 11/18/25

Reason for late payments Re-negotiated Terms

## Loan

| Issue date | 03/28/24 |
| --- | --- |
| Amount | $150,000.00 |
| Outstanding principal plus interest | $97,203.00 as of 12/30/24 |
| Interest rate | 15.0% per annum |
| Maturity date | 01/30/26 |

## Loan

| Issue date | 06/12/24 |
| --- | --- |
| Amount | $150,000.00 |
| Outstanding principal plus interest | $120,486.00 as of 12/30/24 |
| Interest rate | 15.0% per annum |
| Maturity date | 05/29/26 |
| Current with payments | Yes |

## Loan

| Issue date | 09/05/24 |
| --- | --- |
| Amount | $150,000.00 |
| Outstanding principal plus interest | $131,403.00 as of 12/30/25 |
| Interest rate | 15.0% per annum |
| Maturity date | 08/29/26 |
| Current with payments | Yes |

## Loan

| Issue date | 12/30/24 |
| --- | --- |
| Amount | $150,000.00 |
| Outstanding principal plus interest | $148,960.00 as of 12/30/24 |
| Interest rate | 15.0% per annum |
| Maturity date | 12/31/26 |
| Current with payments | Yes |

## Convertible Note

| Issue date | 12/29/20 |
| --- | --- |

| Amount | $400,000.00 |
| --- | --- |
| Interest rate | 6.0% per annum |
| Valuation cap | $6,500,000.00 |
| Maturity date | 12/30/28 |

| Convertible Note |  |
| --- | --- |
| Issue date | 12/30/20 |
| Amount | $235,028.00 |
| Interest rate | 6.0% per annum |
| Valuation cap | $5,300,000.00 |
| Maturity date | 12/31/28 |

| Convertible Note |  |
| --- | --- |
| Issue date | 05/19/21 |
| Amount | $40,000.00 |
| Interest rate | 6.0% per annum |
| Valuation cap | $5,300,000.00 |
| Maturity date | 05/20/28 |

| Convertible Note |  |
| --- | --- |
| Issue date | 08/23/21 |
| Amount | $316,582.00 |
| Interest rate | 6.0% per annum |
| Valuation cap | $5,300,000.00 |
| Maturity date | 08/24/28 |

| Convertible Note |  |
| --- | --- |
| Issue date | 07/21/22 |
| Amount | $1,000,000.00 |
| Interest rate | 5.0% per annum |
| Valuation cap | $10,600,000.00 |
| Maturity date | 07/22/28 |

| Convertible Note |  |
| --- | --- |
| Issue date | 09/22/22 |
| Amount | $1,000,000.00 |
| Interest rate | 6.0% per annum |
| Valuation cap | $10,600,000.00 |

Maturity date 09/23/28

## Convertible Note

Issue date 02/22/23

Amount $50,000.00

Interest rate 6.0% per annum

Valuation cap $5,300,000.00

Maturity date 02/23/28

## Convertible Note

Issue date 03/10/23

Amount $10,800.00

Interest rate 6.0% per annum

Valuation cap $15,900,000.00

Maturity date 03/11/28

## Convertible Note

Issue date 03/29/23

Amount $250,000.00

Interest rate 6.0% per annum

Valuation cap $10,600,000.00

Maturity date 03/30/28

## Convertible Note

Issue date 09/06/23

Amount $50,000.00

Interest rate 6.0% per annum

Valuation cap $15,900,000.00

Maturity date 09/07/28

INSTRUCTION TO QUESTION 24: name the creditor, amount owed, interest rate, maturity date, and any other material terms.

25. What other exempt offerings has the issuer conducted within the past three years?

| Offering Date | Exemption | Security Type | Amount Sold | Use of Proceeds |
| --- | --- | --- | --- | --- |
| 12/2019 | Section 4(a)(2) | Convertible Note | $800,000 | General operations |

| 12/2020 | Section 4(a)(2) | Convertible Note | $400,000 | General operations |
| --- | --- | --- | --- | --- |
| 12/2020 | Section 4(a)(2) | Convertible Note | $235,028 | General operations |
| 2/2021 | Regulation Crowdfunding | SAFE | $234,394 | General operations |
| 5/2021 | Section 4(a)(2) | Convertible Note | $40,000 | General operations |
| 8/2021 | Section 4(a)(2) | Convertible Note | $316,582 | General operations |
| 7/2022 | Section 4(a)(2) | Convertible Note | $1,000,000 | General operations |
| 9/2022 | Section 4(a)(2) | Convertible Note | $1,000,000 | General operations |
| 2/2023 | Section 4(a)(2) | Convertible Note | $50,000 | General operations |
| 3/2023 | Section 4(a)(2) |  | $10,800 | General operations |
| 3/2023 | Section 4(a)(2) | Convertible Note | $10,800 | General operations |
| 3/2023 | Section 4(a)(2) | Convertible Note | $250,000 | General operations |
| 9/2023 | Section 4(a)(2) | Convertible Note | $50,000 | General operations |

26. Was or is the issuer or any entities controlled by or under common control with the issuer a party to any transaction since the beginning of the issuer's last fiscal year, or any currently proposed transaction, where the amount involved exceeds five percent of the aggregate amount of capital raised by the issuer in reliance on Section 4(a)(6) of the Securities Act during the preceding 12- month period, including the amount the issuer seeks to raise in the current offering, in which any of the following persons had or is to have a direct or indirect material interest:

1. any director or officer of the issuer;
2. any person who is, as of the most recent practicable date, the beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power;
3. if the issuer was incorporated or organized within the past three years, any promoter of the issuer;
4. or any immediate family member of any of the foregoing persons.

☑ Yes
☐ No

For each transaction specify the person, relationship to issuer, nature of interest in transaction, and amount of interest.

| Name | Friends & Family |
| --- | --- |
| Amount Invested | $800,000.00 |
| Transaction type | Convertible note |
| Issue date | 12/30/19 |
| Interest rate | 3.0% per annum |
| Maturity date | 01/01/21 |
| Converted | Yes |
| Valuation cap | $5,300,000.00 |
| Relationship | Friends & Family |

| Name | Basir Kapadia |
| --- | --- |
| Amount Invested | $235,028.00 |
| Transaction type | Convertible note |
| Issue date | 12/30/20 |
| Interest rate | 6.0% per annum |
| Maturity date | 12/31/28 |
| Valuation cap | $5,300,000.00 |
| Relationship | Father of Sohel |

| Name | Samir Kapadia |
| --- | --- |
| Amount Invested | $40,000.00 |
| Transaction type | Convertible note |
| Issue date | 05/19/21 |
| Interest rate | 6.0% per annum |
| Maturity date | 05/20/28 |
| Valuation cap | $5,300,000.00 |
| Relationship | Brother of Sohel |

| Name | Basir Kapadia |
| --- | --- |
| Amount Invested | $50,000.00 |
| Transaction type | Convertible note |
| Issue date | 02/22/23 |
| Interest rate | 6.0% per annum |
| Maturity date | 02/23/28 |
| Valuation cap | $5,300,000.00 |
| Relationship | Father of Sohel |

| Name | Red Mobile |
| --- | --- |
| Amount Invested | $10,800.00 |
| Transaction type | Other |
| Issue date | 03/10/23 |
| Relationship | Friend |

$10,800 in convertible debt at $3 a share which has 6% yearly interest

| Name | Sajeda |
| --- | --- |
| Amount Invested | $300,000.00 |
| Transaction type | Loan |
| Issue date | 09/30/23 |
| Outstanding principal plus interest | $307,500.00 as of 12/30/24 |
| Interest rate | 15.0% per annum |
| Maturity date | 12/31/25 |
| Relationship | Family |

INSTRUCTIONS TO QUESTION 26: The term transaction includes, but is not limited to, any financial transaction, arrangement or relationship (including any indebtedness or guarantee of indebtedness) or any series of similar transactions, arrangements or relationships.

Beneficial ownership for purposes of paragraph (2) shall be determined as of a date that is no more than 120 days prior to the date of filing of this offering statement and using the same calculation described in Question 6 of this Question and Answer format.

The term "member of the family" includes any child, stepchild, grandchild, parent, stepparent, grandparent, spouse or spousal equivalent, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law of the person, and includes adoptive relationships. The term "spousal equivalent" means a cohabitant occupying a relationship generally equivalent to that of a spouse.

Compute the amount of a related party's interest in any transaction without regard to the amount of the profit or loss involved in the transaction. Where it is not practicable to state the approximate amount of the interest, disclose the approximate amount involved in the transaction.

# FINANCIAL CONDITION OF THE ISSUER

27. Does the issuer have an operating history?
☑ Yes
☐ No

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

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

You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis. Overview

Groomit Inc. and its 100% operating subsidiary Groom It For Pets LLC (the "Company") are in the business of in-home pet grooming through their mobile platform which connects pet owners and groomers. By connecting owners and groomers directly, the Company offers top quality services which are all conveniently performed in the comfort of pet owners' homes.

## Milestones

Groomit Inc. was incorporated in the State of Delaware in January 2020.

Since then, we have:

- Over 140,000 pets groomed generating lifetime revenues of $24 million+
- 4.8/5.0 customer satisfaction rating over 35,000+ verified reviews with a 70% repeat customers rate.
- Nationwide reach with 120+ groomers and 80+ vans servicing 10,000+ zip codes across 17 states.
- Empower Groomers with profit sharing result in above market earnings, attracting 5,000+ applicants.
- 8.4x annual return on ad spend with 100K monthly website visits and 10,000+ app downloads per month.
- In-house, custom-built CRM enables leadership to track and maximize the value of customer data.
- Experienced team led by Sohel Kapadia, a technology and

telecom industry veteran.

## Historical Results of Operations

- Revenues &amp; Gross Margin. For the period ended December 31, 2024, the Company had revenues of $7,401,985 compared to the year ended December 31, 2023, when the Company had revenues of $5,888,841. Our gross margin was 49.4% in fiscal year 2024, and 45.81% in 2023.
- Assets. As of December 31, 2024, the Company had total assets of $1,768,737, including $10,405 in cash. As of December 31, 2023, the Company had $2,030,611 in total assets, including $76,565 in cash.
- Net Loss. The Company has had net losses of $1,809,015 and net losses of $1,798,829 for the fiscal years ended December 31, 2024 and December 31, 2023, respectively.
- Liabilities. The Company's liabilities totaled $6,750,616 for the fiscal year ended December 31, 2024 and $5,370,326 for the fiscal year ended December 31, 2023.

## Related Party Transaction

Refer to Question 26 of this Form C for disclosure of all related party transactions.

## Liquidity &amp; Capital Resources

To-date, the company has been financed with $1,576,250 in debt and $4,152,410 in convertibles.

After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 6 months before we need to raise further capital.

We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don't have any other sources of capital in the immediate future.

We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 6 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.

## Runway &amp; Short/Mid Term Expenses

Groomit Inc. cash in hand is $150,000, as of May 2025

Oroomit Inc. cash in hand is $150,000, as of May 2023. Over the last three months, revenues have averaged $700,000/month, cost of goods sold has averaged $650,000/month, and operational expenses have averaged $280,000/month, for an average burn rate of $230,000 per month. Our intent is to be profitable in 2 months.

Since the date of our financials, our Q1 of 2025 has seen close to 30% growth compared to Q1 of 2024. We have also taken capital into the company through debt and convertible debt issuances.

Over the next 6 months we expect close to $5M in revenue, incur approximately $3.5M in COGS, and $1.5M in OpEx.

We are not yet profitable. We believe we’ll need approximately $2M in capital to reach profitability by end of Q4 2025.

For additional sources of capital outside of this Wefunder offering, we have good relations with credit institutions and can also rely on our friends and family who have helped us previously.

All projections in the above narrative are forward-looking and not guaranteed.

**INSTRUCTIONS TO QUESTION 28:** The discussion must cover each year for which financial statements are provided. For issuers with no prior operating history, the discussion should focus on financial milestones and operational, liquidity and other challenges. For issuers with an operating history, the discussion should focus on whether historical results and cash flows are representative of what investors should expect in the future. Take into account the proceeds of the offering and any other known or pending sources of capital. Discuss how the proceeds from the offering will affect liquidity, whether receiving these funds and any other additional funds is necessary to the viability of the business, and how quickly the issuer anticipates using its available cash. Describe the other available sources of capital to the business, such as lines of credit or required contributions by shareholders. References to the issuer in this Question 28 and these instructions refer to the issuer and its predecessors, if any.

# FINANCIAL INFORMATION

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

Refer to Appendix C, Financial Statements

I, Faez Kapadia, certify that:

(1) the financial statements of Groomit Inc. included in this

Form are true and complete in all material respects; and
(2) the financial information of Groomit Inc. included in this
Form reflects accurately the information reported on the
tax return for Groomit Inc. filed for the most recently
completed fiscal year.

Faez Kapadia
VP

# OTHER MATERIAL INFORMATION

31. In addition to the information expressly required to be included in this Form, include:
- (1) any other material information presented to investors; and
- (2) such further material information, if any, as may be necessary to make the required statements, in the light of the circumstances under which they are made, not misleading.

The Company is using the services of XX as part of its offering. XX is comprised of XX Investments, LLC, XX Team LLC, and the Lead Investors who provide services on behalf of XX Team LLC. The services of XX are available to companies that offer securities through Wefunder Portal LLC and to investors who invest in such companies through Wefunder Portal, but XX is not affiliated with Wefunder Portal or its affiliates.

XX Investments is the Company's transfer agent and also acts as custodian, paying agent, and proxy agent on behalf of all investors that enter into the Custodial and Voting Agreement with XX Investments through the Wefunder Portal website ("Investors"). XX Investments holds legal title to the securities the Company issues through Wefunder Portal (which are uncertificated) on behalf of Investors. Investors, in turn, hold the beneficial interests in the Company's securities. XX Investments keeps track of each Investor's beneficial ownership interest and makes any distributions to the Investors (or other parties, as directed by the Investors).

In addition to the above services, at the direction of XX Team, XX Investments votes the securities and take any other actions in connection with such voting on behalf of the Investors. XX Investments acts at the direction of XX Team, because XX Team holds a power of attorney from each Investor that has entered into the Investor Agreement to make voting decisions on behalf of that Investor. XX

to make voting decisions on behalf of that investor. XX Investments will not charge Investors for its services. XX Investments does charge the Company $1,000/year for services; however, those fees may be paid by Wefunder Inc. on behalf of the Company.

As noted, XX Team holds a power of attorney from each Investor that has entered into the Investor Agreement to make voting decisions on behalf of that Investor. Pursuant to the power of attorney, XX Team will make voting decisions and then direct XX Investments to vote and take any other actions in connection with the voting on Investors' behalf. XX Team will act, with respect to the Company, through our Lead Investor, who is a representative of XX Team. As compensation for its voting services, each Investor authorizes XX Investments to distribute to XX Team 10% of any distributions the Investor would otherwise receive from the Company. XX Team will share its compensation with our Lead Investor. XX Team, through our Lead Investor, may also provide consulting services to the Company and may be compensated for these services by the Company; although, fees owed by the Company may be paid by Wefunder Inc. XX Team will share its consulting compensation with our Lead Investor.

The Lead Investor is an experienced investor that we choose to act in the role of Lead Investor, both on behalf of the Company and on behalf of Investors. As noted, the Lead Investor will be a representative of XX Team and will share in compensation that XX Team receives from the Company (or Wefunder Inc. on the Company behalf) or from Investors. The Lead Investor will be chosen by the Company and approved by Wefunder Inc., and the identity of the Lead Investor must be disclosed to Investors before Investors make a final investment decision to purchase the Company's securities. Investors will receive disclosure regarding all fees that may be received by the Lead Investor. In addition to the fees described above, the Lead Investor may receive compensation if, in the future, Wefunder Advisors LLC forms a special purpose vehicle ("SPV") for the purpose of investing in a non-Regulation Crowdfunding offering of the Company. In such a circumstance, the Lead Investor may act as a portfolio manager for that SPV (and as a supervised person of Wefunder Advisors) and may be compensated through that role. Although the Lead Investor may act in multiple roles and be compensated from multiple parties, the Lead Investor's goal is to maximize the value of the Company and therefore maximize the value of the Company's securities. As a result, the Lead Investor's interests should always be aligned with those of the Investors.

Investors that wish to purchase the Company's securities through Wefunder Portal must agree to (1) hire XX Investments to serve as custodian, paying agent, and proxy agent with respect to the Company's securities; (2) give a power of attorney to XX Team to make all voting decisions with respect to the Company's securities; and (3) direct XX Investments to share 10% of the Investor's distribution from the Company with XX Team. The Company may waive these requirements for certain investors with whom the Company has a pre-existing relationship.

The XX arrangement described above is intended to benefit the Company by allowing the Company to reflect one investor of its capitalization table (XX Investments) and by simplifying the voting process with respect to the Company's securities by having one entity (XX Team), through one person (the Lead Investor), make all voting decisions and having one entity (XX Investments) carry out XX Team's voting instruments and any take any related actions. The XX arrangement also is intended to benefit Investors by providing the services of an experienced Lead Investor (acting on behalf of XX Team) who is expected to make value-maximizing decisions regarding Investors' securities. XX Team (acting through the Lead Investor) may further benefit both the Company and Investors by providing consulting services to the Company that are intended to maximize both the value of the Company's business and also the value of its securities.

INSTRUCTIONS TO QUESTION 30: If information is presented to investors in a format, media or other means not able to be reflected in text or portable document format, the issuer should include:

(a) a description of the material content of such information;
(b) a description of the format in which such disclosure is presented; and
(c) in the case of disclosure in video, audio or other dynamic media or format, a transcript or description of such disclosure.

# ONGOING REPORTING

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

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

33. Once posted, the annual report may be found on the issuer's website at:

http://www.groomit.me/invest

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

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

## APPENDICES

- **Appendix A: Business Description &amp; Plan**
- **Appendix C: Financial Statements**
- Financials 1
- **Appendix D: Director &amp; Officer Work History**
- Anna Zege
- Faez Kapadia
- Lars Rissmann
- Sohel Kapadia
- **Appendix E: Supporting Documents**
- Add new Form C attachment (admin only)

Signatures

Intentional misstatements or omissions of facts constitute federal criminal violations. See 15 U.S.C. 1001.

The issuer certifies that it has established means to keep accurate records of the holders of the securities it would offer and sell through the intermediary's platform.

The following documents will be filed with the SEC:

Cover Page XML

Offering Statement (this page)

Appendix A: Business Description &amp; Plan

Appendix B: Investor Contracts

- Early Bird SAFE (Simple Agreement for Future Equity)
- SAFE (Simple Agreement for Future Equity)

Appendix C: Financial Statements

- Financials 1

Appendix D: Director &amp; Officer Work History

- Anna Zege
- Faez Kapadia
- Lars Rissmann
- Sohel Kapadia

Appendix E: Supporting Documents

Pursuant to the requirements of Sections 4(a)(6) and 4A of the Securities Act of 1933 and Regulation Crowdfunding (§ 227.100 et seq.), the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Annual Report and has duly caused this Form to be signed on its behalf by the duly authorized undersigned.

Groomit Inc.

By

**Faez KAPADIA**

VP

Pursuant to the requirements of Sections 4(a)(6) and 4A of the Securities Act of 1933 and Regulation Crowdfunding (§ 227.100 et seq.), this Annual Report and Transfer Agent Agreement has been signed by the following persons in the capacities and on the dates indicated.

## Faez KAPADIA

VP
6/5/2025

## Anna Zege

Founder
6/5/2025

## Lars Rissmann

COO
6/5/2025

The Annual Report must be signed by the issuer, its principal executive officer or officers, its principal financial officer, its controller or principal accounting officer and at least a majority of the board of directors or persons performing similar functions.

I authorize Wefunder Portal to submit a Annual Report to the SEC based on the information I provided through this online form and my company’s Wefunder profile.

As an authorized representative of the company, I appoint Wefunder Portal as the company’s true and lawful representative and attorney-in-fact, in the company’s name, place and stead to make, execute, sign, acknowledge, swear to and file a Annual Report on the company’s behalf. This power of attorney is coupled with an interest and is irrevocable. The company hereby waives any and all defenses that may be available to contest, negate or disaffirm the actions of Wefunder Portal taken in good faith under or in reliance upon this power of attorney.

^{}[]

**Attachment 2:** `document_2.pdf`

# Fuel the Future of Pet Grooming

![img-0.jpeg](img-0.jpeg)

![img-1.jpeg](img-1.jpeg)

![img-2.jpeg](img-2.jpeg)

![img-3.jpeg](img-3.jpeg)

PITCH VIDEO

INVESTOR PANEL

## INVEST IN GROOMIT

Groomit is the most trusted on-demand app connecting pet owners with professional groomers

groomit.me

Yonkers, NY

in

f

@

#

d

Marketplace

SaaS

## Highlights

1.  $24,000,000+ In Cumulative Revenue With 140,000+ Pets Groomed And Growing ~50% YoY.

75 000+ Verified Reviews With 4.8/5.0 Customer Satisfaction Rating And A 70%

2 35,000+ Verified Reviews With 4.8/5.0 Customer Satisfaction Rating And A 70% Repeat Customers Rate.

3 10,000+ Zip Codes Across 17 States Serviced By 120+ Groomers And 80+ Vans.

4 5,000+ Groomer Applicants Due To Attractive Profit Sharing Compensation Demonstrating Scalability.

5 100,000+ Website Visits And 10,000+ App Downloads Per Month Generate an 8.4x Annual ROAS.

6 Team Led by Sohel Kapadia; Scaled A Telecom Company From 0 to 10M customers, generating $250M LTR.

7 1 of 1 Company In ~$2.5B Pet Care Market With A ~7% CAGR.

# Our Team

![img-4.jpeg](img-4.jpeg)

## Sohel Kapadia CEO

Built and successfully exited a tech enabled telecom business with 10M+ customers

Impossible to find a reliable groomer for in-home grooming on my schedule. Very inconvenient for pet owners to get dogs groomed in an unfamiliar environment. Groomit cares for the quality of groomings, convenience for pet parents, and comfort for pets.

![img-5.jpeg](img-5.jpeg)

## Lars Rissmann Chief Operating Officer

Scaled customer relationships to 5M+ users internationally

![img-6.jpeg](img-6.jpeg)

## Anna Zege Co-Founder - Product Quality Lead

Business strategist with intimate knowledge of the pet industry

Jun Hyuk Seo Chief Technology Officer

Senior Software Engineer with expertise in building enterprise systems

# Transform Your Pet's Grooming Experience with Groomit: Same-Day Service at Your Doorstep

## Our Story:
Redefining Grooming, One Pet at a Time

Dear Investors,

Groomit was founded in 2016 to make pet grooming more convenient, personalized, and stress-free-starting with in-home appointments where pets feel most comfortable. In 2021, we expanded our offering by launching a fleet of in-house built mobile grooming vans, giving us the ability to serve more cities and meet the growing demand for quality pet care at home.

What began as a local service has evolved into a nationwide, tech-powered platform, connecting pet parents with vetted, insured groomers through our easy-to-use mobile app.

Groomit Our Story

| 2018 Launch in NYC | Groomit begins with a bold mission-to make pet grooming stress-free and convenient by offering in-home grooming services in New York City. The concept quickly gains traction among busy pet parents. |
| --- | --- |
| 2021 - 23 Mobile Expansion | We introduced our first mobile grooming vans, enabling us to serve new urban and suburban markets with on-demand convenience. Over the next two years, we scaled to 70 vans and expanded into 17 states, transforming Groomit into a nationwide platform for professional pet care. |
| 2024 Profitable Growth, Without Expansion | We paused van production to focus on profitability and system optimization. Despite no new vans, revenue grew from $6M to $8M, driven by improved retention, smarter operations, and the launch of recurring booking flows-proving Groomit can scale efficiently with the right infrastructure. |
| 2025 Fleet Expansion Resumes | Entering our next growth phase, we aim to double our fleet to 150 vans. By the end of Q1, we've already added 20 vans-positioning us to meet surging demand while upholding service quality. |
| Today Trusted Nationwide | Groomit now operates in 17 states, with 80+ active vans and a loyal customer base. We've groomed over 140,000 pets with a 4.7-star average rating and a 95%+ appointment completion rate. We continue to redefine pet care-powered by professionals, supported by technology, and loved by families across the country. |

# Where We Are Today

12. **17 states** of operation and growing month-over-month.
13. **80+ mobile grooming vans** live &amp; active across key metro areas.
14. **140,000+ pets groomed** with a focus on comfort &amp; care.
15. **4.8-star average rating** based on over 40,000 verified reviews.
16. **95% appointment completion rate**, proving reliability and consistency.
17. **$10 million+ annual run rate** achieved through recurring, high-value bookings.
18. **600%+ revenue growth** since our last Wefunder campaign.

# Where We're Headed

250+

vans by 2026 to meet increasing demand in current and new markets.

## $25M+

annual revenue projected by 2026, driven by rapid expansion and market penetration.

## $325M+

potential valuation, fueled by strategic growth, consolidation, or acquisition opportunities.

## 150+

vans already committed by investors to be added to the platform for 2025-2026

## The Problem We're Solving

Pet grooming isn't just about looking good-it's essential for a pet's health and well-being. But the traditional grooming industry is outdated, inefficient, and full of friction-for both pet owners and groomers.

## For Pet Owners

1

2

Long wait times:
Appointments at salons often book out weeks in advance

Stressful experiences:
Pets endure car rides, cage confinement, and noisy environments

3
Lack of trust and consistency:
Finding a reliable groomer is difficult, and service quality varies widely

4
Limited flexibility:
Salon hours and mobile van routes don't adapt to busy lifestyles

For Groomers

1
Low pay:
Many earn below industry standards with little control over their income

2
High startup costs:
Buying a van or opening a salon is financially out of reach for most

3
No business tools:
Independent groomers struggle with scheduling, client comm., &amp; payment processing

4
Limited career growth:
Most have few opportunities to scale beyond working job-to-job

The pet care industry has evolved-but grooming has been left behind. Groomit is changing that.

# Our Solution:
Grooming That Works for Everyone

Groomit reinvents pet grooming by combining convenience, technology, and quality into one seamless experience-benefiting both pet owners and grooming professionals.

## For Pet Owners

1. **At-home or mobile grooming**
Pets stay relaxed in familiar surroundings, reducing stress

2. **Same-day &amp; flexible bookings:**
Appointments are available when customers need them, even last-minute

3. **Personalized care:**
Groomers are matched to pets based on breed, temperament, and service needs

4. **Transparent pricing:**
Instant quotes based on pet type and location-no hidden fees

## For Groomers

1. **Higher earnings:**
Groomit groomers earn an average of $117 per booking-3x the industry standard

2. **Business-in-a-box:**
Our platform handles bookings, payments, route optimization, and customer communication

3. **Flexible work model:**
Choose your house, locations

4. **Fully equipped vans provided at no cost**

Choose your hours, locations, and service types

at no cost.

Groomit removes the biggest barrier to entrepreneurship, empowering groomers to run their own mobile business.

# Proven Success in Growth Market.

We have grown from $350,000 in revenue in 2018 to a $10 million annual run rate in 2024, expanding from New York City to operating across 17 states with 80+ mobile grooming vans. Our traction speaks for itself:

- 140,000+ pets groomed with a 95% appointment completion rate
- 70% repeat customer rate
- 4.8/5 rating from over 40,000 reviews

![img-7.jpeg](img-7.jpeg)

Groomit featured in NY Times, July 2020

# What Sets Groomit Apart:

Groomit isn't just another grooming company-we've built an entire ecosystem that empowers professionals, delights customers, and scales nationally. Here's how we're different:

## 8+ Years of Operational Expertise:

We've been perfecting our model since 2016, with real-world insights that new entrants simply don't have. Our proprietary matching algorithm connects pets with the ideal groomer based on breed, temperament, and service needs-creating better outcomes and stronger retention.

## Groomer-Centric Business Model:

Unlike traditional salons that limit earning potential, Groomit puts groomers in control. We empower them with:

- No-cost access to vans
- Flexible scheduling
- Average earnings of $117 per booking (3x the industry standard)

## Dynamic, Transparent Pricing:

Our platform provides instant quotes based on pet type, location, and service selected. No surprises. No negotiations. Just clear pricing that builds customer trust and simplifies bookings.

## Trusted Nationwide Reputation:

With 40,000+ verified reviews and a 4.8/5 rating, customers know what to expect-and that consistency drives our 70% repeat customer rate. Quality is built into every touchpoint.

## Scalable, In-House Made Fleet Model:

We design and manage our own custom mobile grooming vans, allowing us to scale cost-effectively and maintain high quality. Our in-house fleet strategy enables us to expand into new markets faster and with better margins than competitors reliant on third-party infrastructure.

## Proprietary Tech Stack:

### Our app powers:

- Seamless customer booking and rebooking
- AI-optimized groomer scheduling and routing
- Automated payments and customer communication
- Full-service backend for groomers to manage their business

## Superior Economics:

- $245 average revenue per booking
- $112 gross profit per booking
- $117 average groomer earnings (3x industry standard)
- 8.4x annual return on ad spend

- $80 average customer acquisition cost
- 3.25x average bookings per user

# Key Metrics Overview

| 90mins Average Appointment Length | $117 (3x industry standard) Groomer Earnings |
| --- | --- |
| 8.4x 2.14x in the first month annual return on ad spend | 70% Bookings from repeat users |
| $245 average revenue per booking | $80 ave. customer acquisition cost |
| $112 gross profit per booking | 3.25x average bookings per user |

![img-0.jpeg](img-0.jpeg)

Forward-looking statements are not guaranteed.

# Massive, Untapped Market.

The U.S. pet care industry is booming-and grooming is one of its fastest-growing segments. As more pet owners treat their dogs and cats like family, demand for high-quality, convenient grooming services is surging.

# The Market at a Glance

- $10.2 billion U.S. pet grooming market (2023)
- Projected to reach $15.8 billion by 2029
- 65 million dogs and 47 million cats in U.S. households
- Over 70% of pet owners say they prefer at-home or mobile care over traditional salons
- Industry dominated by outdated salons, underinvested franchises, and fragmented independents

and fragmented independents

65M Dogs
45M Cats
Ownership in US

61.6M
pet owners prefer at-home or mobile care.

10.2 B
2029
US Pet Grooming Market

7.14 B
2029
Serviceable Obtainable Market

9%
Annual Growth Rate

## Why Now

- Consumers want convenience, flexibility, and personalization-and they're willing to pay for it.
- Pet ownership is rising, especially among millennials and Gen Z, who prefer tech-enabled, on-demand services.
- Groomers are leaving traditional jobs in search of independence, better pay, and flexibility-a workforce shift Groomit is built to support.

Seasoned Leadership Team

www.industrydocuments.ucsf.edu/docs/lnkx0191

![img-1.jpeg](img-1.jpeg)
**Sohel Kapadia**
Co-founder
Built and successfully exited a tech enabled telecom business with 10M+ customers

![img-2.jpeg](img-2.jpeg)
**Lars Rissmann**
COO
Scaled customer relationships to 5M+ users internationally

![img-3.jpeg](img-3.jpeg)
**Anna Zege**
President &amp; Co-founder
Business strategist with intimate knowledge of the pet industry

![img-4.jpeg](img-4.jpeg)
**Jun Hyuk Seo**
CTO
Senior Software Engineer with expertise in building enterprise systems

# The Investment Opportunity

We're not just building a company-we're building a movement powered by our community. You believed in Groomit early on, and now, before we open

our doors to institutional investors, we're offering you this special opportunity to own a piece of what you helped create.

This isn't just a raise-it's our way of saying thank you.

## We're Opening $650,000 to:

- Give back to our community by offering up to 1% ownership before our larger institutional raise
- Drive bookings and scale to a fleet of 250+ vans nationwide
- Recruit top grooming talent and strengthen logistics for rapid expansion
- Accelerate customer growth through performance marketing and local outreach

## The Offer:

- Valuation: $65 million - exclusive to our exclusive to our community
- 1% of the company available in this round
- Offered at a discount to our current benchmarked internal valuation of $100M+
- Campaign capped at $650,000 - limited access, reserved for early believers

## Where We're Headed:

- Projecting 25M revenue run rate in 2026
- Projected valuation of $325M+ based on scalable economics and market demand

Forward-looking statements are not guaranteed.

Join us in transforming the pet grooming industry and creating a future where quality pet care is just a tap away, convenient for pet owners and rewarding for grooming professionals.

# Real Reviews from Real Bookings

## Reviews

See what our customers say about us!

![img-5.jpeg](img-5.jpeg)

![img-6.jpeg](img-6.jpeg)

![img-7.jpeg](img-7.jpeg)

# Downloads

- Groomit Pitchdeck.pdf

**Attachment 3:** `document_3.pdf`

2024 REPORT

# Groomit

![img-0.jpeg](img-0.jpeg)

LETTER

# Dear investors,

2024 was a year of operational strength and strategic discipline. Despite limited funding, we grew revenue from $6M to $8M by increasing fulfillment efficiency, improving retention through seamless booking flows, and enhancing margins with well-placed policy changes-all without adding new vans.

While van procurement delays and constrained marketing budgets limited our growth pace, we maintained high ROAS and laid the foundation for scalable customer acquisition.

Looking ahead to 2025, we're focused on growth. With your continued support, we aim to double our fleet to nearly 150 vans, unlocking new markets and increasing our service capacity dramatically. This expansion, combined with our strong unit economics and maturing retention strategies, positions us for breakout growth.

Thank you for believing in our mission. The best is yet to come.

# We need your help!

Fuel Scalable GrowthAdditional capital will let us scale our marketing-turning high ROAS into aggressive customer acquisition and market dominance.

## Expand Fleet Faster

Funding will unblock van procurement delays, allowing us to grow capacity and meet demand in more regions.

## Attract and Retain Top Talent

Investment enables us to offer competitive compensation and reduce groomer turnover, improving service quality and fulfillment.

## Accelerate Product Enhancements

With investor backing, we can continue optimizing our platform, improving retention flows, and compounding recurring revenue.

Sincerely,

*Faez KAPADIA*

VP

*Anna Zege*

Founder

*Sohel Kapadia*

COO

# How did we do this year?

| REPORT CARD |
| --- |

![img-1.jpeg](img-1.jpeg)

## The Good

Revenue up $6M→$8M without new vans via optimized fulfillment.

Seamless app flows &amp; retention offers drove recurring bookings.

Introduced strategic policies that increased profitability margins without disrupting operational flow or customer experience.

## The Bad

Marketing was efficient but underfunded, limiting our ability to aggressively pursue larger customer segments.

Unexpected Van maintenance costs slightly affected margins.

Delays in van procurement slowed fleet expansion plans.

# 2024 At a Glance

January 1 to December 31

![img-2.jpeg](img-2.jpeg)

$7,401,985 +26%

Revenue

![img-3.jpeg](img-3.jpeg)

-$1,809,015

Net Loss

IOU!

100% 2008 2015 2016 2017 2018

$2,776,274 +75%

Short Term Debt

$826,250

Raised in 2024

![img-4.jpeg](img-4.jpeg)

$150,000

Cash on Hand

As of 05/14/25

INCOME BALANCE NARRATIVE

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

You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis. Overview

Groomit Inc. and its 100% operating subsidiary Groom It For Pets LLC (the "Company") are in the business of in-home pet grooming through their mobile platform which connects pet owners and groomers. By connecting owners and groomers directly, the Company offers top quality services which are all conveniently performed in the comfort of pet owners' homes.

# Milestones

Groomit Inc. was incorporated in the State of Delaware in January 2020.

Since then, we have:

- Over 140,000 pets groomed generating lifetime revenues of $24 million+
- 4.8/5.0 customer satisfaction rating over 35,000+ verified reviews with a 70% repeat customers rate.
- Nationwide reach with 120+ groomers and 80+ vans servicing 10,000+ zip codes across 17 states.
- Empower Groomers with profit sharing result in above market earnings, attracting 5,000+ applicants.
- 8.4x annual return on ad spend with 100K monthly website visits and 10,000+ app downloads per month.
- In-house, custom-built CRM enables leadership to track and maximize the value of customer data.
- Experienced team led by Sohel Kapadia, a technology and telecom industry veteran.

# Historical Results of Operations

- Revenues &amp; Gross Margin. For the period ended December 31, 2024, the Company had revenues of $7,401,985 compared to the year ended December 31, 2023, when the Company had revenues of $5,888,841. Our gross margin was 49.4% in fiscal year 2024, and 45.81% in 2023.
- Assets. As of December 31, 2024, the Company had total assets of $1,768,737, including $10,405 in cash. As of December 31, 2023, the Company had $2,030,611 in total assets, including $76,565 in cash.
- Net Loss. The Company has had net losses of $1,809,015 and net losses of $1,708,820 for the fiscal years ended December 31, 2024 and December 31,

$1,798,829 for the fiscal years ended December 31, 2024 and December 31, 2023, respectively.

- **Liabilities.** The Company’s liabilities totaled $6,750,616 for the fiscal year ended December 31, 2024 and $5,370,326 for the fiscal year ended December 31, 2023.

## Related Party Transaction

Refer to Question 26 of this Form C for disclosure of all related party transactions.

## Liquidity &amp; Capital Resources

To-date, the company has been financed with $1,576,250 in debt and $4,152,410 in convertibles.

After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 6 months before we need to raise further capital.

We plan to use the proceeds as set forth in this Form C under “Use of Funds”. We don’t have any other sources of capital in the immediate future.

We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 6 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.

## Runway &amp; Short/Mid Term Expenses

Groomit Inc. cash in hand is $150,000, as of May 2025. Over the last three months, revenues have averaged $700,000/month, cost of goods sold has averaged $650,000/month, and operational expenses have averaged $280,000/month, for an average burn rate of $230,000 per month. Our intent is to be profitable in 2 months.

Since the date of our financials, our Q1 of 2025 has seen close to 30% growth compared to q1 of 2024. We have also taken capital into the company through debt and convertible debt issuances.

Over the next 6 months we expect close to $5M in revenue, incur approximately $3.5M in COGS, and $1.5M in OpEx.

We are not yet profitable. We believe we'll need approximately $2M in capital to reach profitability by end of Q4 2025.

For additional sources of capital outside of this Wefunder offering, we have good relations with credit institutions and can also rely on our friends and family who have helped us previously.

All projections in the above narrative are forward-looking and not guaranteed.

Net Margin: -24% Gross Margin: 49% Return on Assets: -102% Earnings per Share: -$0.30

Revenue per Employee: $370,099 Cash to Assets: 1% Revenue to Receivables: 691,128

Debt Ratio: 382%

📷 Groomit_Inc_Reviewed_Financial_Statements_YE_12.31.24_23_1_.pdf

We ♥ Our 103 Investors

# Thank You For Believing In Us

| Jerry Levine | William Greenberg | Muhan Zhang | Roberto Ramirez... | Jacob Severn | Tan Quan Nguyen |
| --- | --- | --- | --- | --- | --- |
| Brian Belley | Joshua Gordon | Rukhaiyaben... | Saleem Elmasri | Joshua Stout | Alejandra Rubiera |
| Badal Haider | Pepe Tovar | Adam Stant | Nick Murray | Luke Podsiadlo | Sadikmohmad... |
| David Eitches | Kiran Lingam | Lucia Salcedo | Vanessa Vaughan | Andrew Parker | Ismael Wrixen |
| Anders Alexander | Jordan Sellers | Ronald Knecht | Kara Holmes | David Weathers | Zainab Lakhi |
| Adam Musa | Saul Gewer | Firozkhan Pathan | My Country Mobile... | Caroline Croydon | John Peck |
| Greg Travis | Stefan Hedtmann | Chelsea Calvin | Mohammed Dawood | Fredi Rissmann | Mohmadsharif Tai |
| Mohammad Zabair | Peter M. Cafaro | Latricia Bullock | Mayrene Dominguez... | Jeziel Nova | Peter Vlahos |
| Alonso Zaragoza | Yelena Weissman | Scott Reinhardt | Gill Charles | Terry Mitchell | Jignesh Vavadiya |
| Max Marchione | Sakil Kapadia | Jacobus Dirk... | Twiching General... | Andreas Maerki | Linda Deng |
| Anna Ochoa | My Country Mobile Pt... | Saad Shari | Ben Hays | Ameyo Laetitia Attila | Suzanne Lanctot |
| Melissa Bacchus | Volkan Eren | Magnus Eitches | Basir Kapadia | William Gangware | Joseph Farber |
| Maria Tovar | Tino Patel | Mahmadshakil... | Princess Verlyndia... | Sabrina Casseus | Lisa Marie Scafuta |
| Yuan Liu | Venkata Pilla | Johnny Webster | Monica Kapoor | Monica R Myers | Abdullah Alkulaib |
| Sara Puls | Saad Nanabawa | Nick M | Myrna Perez |  |  |

# Thank You!

From the Groomit Team

![img-5.jpeg](img-5.jpeg)

## Sohel Kapadia

CEO

Built and successfully exited a tech enabled telecom business with 10M+ customers

![img-6.jpeg](img-6.jpeg)

## Lars Rissmann in

Chief Operating Officer

Scaled customer relationships to 5M+ users internationally

![img-7.jpeg](img-7.jpeg)

# Anna Zege

Co-Founder - Product Quality Lead
Business strategist with intimate
knowledge of the pet industry

![img-8.jpeg](img-8.jpeg)

# Jun Hyuk Seo

Chief Technology Officer
Senior Software Engineer with expertise in building enterprise systems

# Details

## The Board of Directors

| Director | Occupation | Joined |
| --- | --- | --- |
| Lars Rissmann | COO @ Groomit | 2020 |
| Anna Zege | VP Quality Control @ Groomit | 2020 |
| Faez Kapadia | VP @ Groomit | 2025 |
| Sohel Kapadia | CEO @ Groomit | 2020 |

## Officers

| Officer | Title | Joined |
| --- | --- | --- |
| Lars Rissmann | Vice President | 2020 |
| Faez Kapadia | VP | 2025 |
| Sohel Kapadia | President | 2020 |

## Voting Power

| Holder | Securities Held | Voting Power |
| --- | --- | --- |
| Anna Zege | 2,087,000 Common Stock | 34.6% |
| Sohel Kapadia | 2,087,000 Common Stock | 34.6% |

## Past Equity &amp; Loan Fundraises

| Date | Amount | Security | Exemption |
| --- | --- | --- | --- |
| 07/2017 | $100,000 |  | Section 4(a)(2) |
| 12/2019 | $800,000 |  | Section 4(a)(2) |
| 12/2020 | $400,000 |  | Section 4(a)(2) |
| 12/2020 | $235,028 |  | Section 4(a)(2) |
| 02/2021 | $234,394 |  | 4(a)(6) |
| 05/2021 | $40,000 |  | Section 4(a)(2) |
| 08/2021 | $316,582 |  | Section 4(a)(2) |
| 11/2021 | $250,000 |  | Section 4(a)(2) |
| 07/2022 | $1,000,000 |  | Section 4(a)(2) |
| 09/2022 | $1,000,000 |  | Section 4(a)(2) |
| 02/2023 | $50,000 |  | Section 4(a)(2) |
| 03/2023 | $10,800 |  | Section 4(a)(2) |
| 03/2023 | $10,800 |  | Section 4(a)(2) |
| 03/2023 | $250,000 |  | Section 4(a)(2) |
| 09/2023 | $50,000 |  | Section 4(a)(2) |
| 09/2023 | $100,000 |  | Section 4(a)(2) |
| 10/2023 | $300,000 |  | Section 4(a)(2) |
| 01/2024 | $226,250 |  | Section 4(a)(2) |
| 03/2024 | $150,000 |  | Section 4(a)(2) |
| 06/2024 | $150,000 |  | Section 4(a)(2) |
| 09/2024 | $150,000 |  | Section 4(a)(2) |
| 12/2024 | $150,000 |  | Section 4(a)(2) |

The use of proceeds is to fund general operations.

## Convertible Note Outstanding

| Issued | Amount | Interest | Discount | Valuation Cap | Maturity |
| --- | --- | --- | --- | --- | --- |
| 12/31/2019 | $800,000 | 3.0% |  | $5,300,000 | 01/01/2021 |
| 12/30/2020 | $400,000 | 6.0% |  | $6,500,000 | 12/30/2028 |
| 12/31/2020 | $235,028 | 6.0% |  | $5,300,000 | 12/31/2028 |

| 12/31/2020 | $255,020 1 | 6.0% | $5,300,000 | 12/31/2020 |
| --- | --- | --- | --- | --- |
| 05/20/2021 | $40,000 2 | 6.0% | $5,300,000 | 05/20/2028 |
| 08/24/2021 | $316,582 3 | 6.0% | $5,300,000 | 08/24/2028 |
| 07/22/2022 | $1,000,000 4 | 5.0% | $10,600,000 | 07/22/2028 |
| 09/23/2022 | $1,000,000 5 | 6.0% | $10,600,000 | 09/23/2028 |
| 02/23/2023 | $50,000 6 | 6.0% | $5,300,000 | 02/23/2028 |
| 03/11/2023 | $10,800 7 | 6.0% | $15,900,000 | 03/11/2028 |
| 03/30/2023 | $250,000 8 | 6.0% | $10,600,000 | 03/30/2028 |
| 09/07/2023 | $50,000 9 | 6.0% | $15,900,000 | 09/07/2028 |

## Outstanding Debts

| Lender | Issued | Amount | Oustanding | Interest | Maturity | Current? |
| --- | --- | --- | --- | --- | --- | --- |
| Pradeep Patel 9 | 07/19/2017 | $100,000 | $100,000 9 | 12.0% | 12/31/2021 | Yes |
| Komal | 11/18/2021 | $250,000 | $282,000 9 | 12.0% | 12/31/2025 |  |
| Itria | 09/08/2023 | $100,000 | $29,166 9 | 15.0% | 09/08/2025 | Yes |
| Sajeda | 10/01/2023 | $300,000 | $307,500 9 | 15.0% | 12/31/2025 |  |
|  | 01/30/2024 | $226,250 | $131,229 9 | 15.0% | 11/18/2025 |  |
|  | 03/29/2024 | $150,000 | $97,203 9 | 15.0% | 01/30/2026 |  |
|  | 06/13/2024 | $150,000 | $120,486 9 | 15.0% | 05/29/2026 | Yes |
|  | 09/06/2024 | $150,000 | $131,403 9 | 15.0% | 08/29/2026 | Yes |
|  | 12/31/2024 | $150,000 | $148,960 9 | 15.0% | 12/31/2026 | Yes |

## Related Party Transactions

None.

## Capital Structure

| Class of Security | Securities (or Amount) Authorized | Securities (or Amount) Outstanding | Voting Rights |
| --- | --- | --- | --- |
| Common Stock | 10,000,000 | 6,036,459 | Yes |
| Warrants: | 0 |  |  |
| Options: | 0 |  |  |

## Form C Risks:

The company has significant liabilities of varying maturities which will eventually need to be repaid. Future investor funds or operating capital could be used to repay those debts.

The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have

no rights to the Company's assets or profits and have no voting rights or ability to direct the Company or its actions.

Someone else copies the same business model and offers better incentives to pet groomers and less pricing to users.

The existing markets revenue may remain flat or growth could slow down, and we may not be able to open additional market due to lack of funds.

Change &amp; updates of state regulations like independent contractors/employee and new implementation licensing of groomers could impact our business and affect our unit economics.

We may not be able to manage supply (recruiting of pet groomers) and demand (not able to get awareness and users on platform).

Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.

## Description of Securities for Prior Reg CF Raise

**Additional issuances of securities.** Following the Investor's investment in the Company, the Company may sell interests to additional investors, which will dilute the percentage interest of the Investor in the Company. The Investor may have the opportunity to increase its investment in the Company in such a transaction, but such opportunity cannot be assured. The amount of additional financing needed by the Company, if any, will depend upon the maturity and objectives of the Company. The declining of an opportunity or the inability of the Investor to make a follow-on investment, or the lack of an opportunity to make such a follow-on investment, may result in substantial dilution of the Investor's interest in the Company.

**Issuer repurchases of securities.** The Company may have authority to repurchase its securities from shareholders, which may serve to decrease any liquidity in the market for such securities, decrease the percentage interests held by other similarly situated investors to the Investor, and create pressure on the Investor to sell its securities to the Company concurrently.

**A sale of the issuer or of assets of the issuer.** As a minority owner of the Company, the Investor will have limited or no ability to influence a potential sale of the Company or a substantial portion of its assets. Thus, the Investor will rely upon the executive management of the Company and the Board of Directors of the Company to manage the Company so as to maximize value for shareholders. Accordingly, the success of the Investor's investment in the Company will depend in large part upon the skill and expertise of the executive management of the Company and the Board of Directors of the Company. If the Board Of Directors of the Company authorizes a sale of all or a part of the Company, or a disposition of a substantial portion of the Company's assets, there can be no guarantee that the value received by the Investor, together with the fair market estimate of the value remaining in the Company, will be equal to or exceed the value of the Investor's initial investment in the Company.

**Transactions with related parties.** The Investor should be aware that there will be occasions when the Company may encounter potential conflicts of interest in its operations. On any issue involving conflicts of interest, the executive management and Board of Directors of the

Involving conflicts of interest, the executive management and Board of Directors of the Company will be guided by their good faith judgement as to the Company's best interests. The Company may engage in transactions with affiliates, subsidiaries or other related parties, which may be on terms which are not arm's-length, but will be in all cases consistent with the duties of the management of the Company to its shareholders. By acquiring an interest in the Company, the Investor will be deemed to have acknowledged the existence of any such actual or potential conflicts of interest and to have waived any claim with respect to any liability arising from the existence of any such conflict of interest.

## Minority Ownership

An Investor in the Company will likely hold a minority position in the Company, and thus be limited as to its ability to control or influence the governance and operations of the Company.

The marketability and value of the Investor's interest in the Company will depend upon many factors outside the control of the Investor. The Company will be managed by its officers and be governed in accordance with the strategic direction and decision-making of its Board Of Directors, and the Investor will have no independent right to name or remove an officer or member of the Board Of Directors of the Company.

Following the Investor's investment in the Company, the Company may sell interests to additional investors, which will dilute the percentage interest of the Investor in the Company. The Investor may have the opportunity to increase its investment in the Company in such a transaction, but such opportunity cannot be assured.

The amount of additional financing needed by the Company, if any, will depend upon the maturity and objectives of the Company. The declining of an opportunity or the inability of the Investor to make a follow-on investment, or the lack of an opportunity to make such a follow-on investment, may result in substantial dilution of the Investor's interest in the Company.

## Exercise of Rights Held by Principal Shareholders

As holders of a majority-in-interest of voting rights in the Company, the shareholders may make decisions with which the Investor disagrees, or that negatively affect the value of the Investor's securities in the Company, and the Investor will have no recourse to change these decisions. The Investor's interests may conflict with those of other investors, and there is no guarantee that the Company will develop in a way that is optimal for or advantageous to the Investor. For example, the shareholders may change the terms of the articles of incorporation for the company, change the terms of securities issued by the Company, change the management of the Company, and even force out minority holders of securities. The shareholders may make changes that affect the tax treatment of the Company in ways that are unfavorable to you but favorable to them. They may also vote to engage in new offerings and/or to register certain of the Company's securities in a way that negatively affects the value of the securities the Investor owns. Other holders of securities of the Company may also have access to more information than the Investor, leaving the Investor at a disadvantage with respect to any decisions regarding the securities he or she owns. The shareholders have the right to redeem their securities at any time. Shareholders could decide to force the Company to redeem their securities at a time that is not favorable to the Investor and is damaging to the Company. Investors' exit may affect the value of the Company and/or its viability. In cases where the rights of holders of convertible debt, SAFES, or other outstanding options or

warrants are exercised, or if new awards are granted under our equity compensation plans, an Investor's interests in the Company may be diluted. This means that the pro-rata portion of the Company represented by the Investor's securities will decrease, which could also diminish the Investor's voting and/or economic rights. In addition, as discussed above, if a majority-in-interest of holders of securities with voting rights cause the Company to issue additional stock, an Investor's interest will typically also be diluted.

## Restrictions on Transfer

The securities offered via Regulation Crowdfunding may not be transferred by any purchaser of such securities during the one year period beginning when the securities were issued, unless such securities are transferred:

- to the issuer;
- to an accredited investor ☐
- as part of an offering registered with the U.S. Securities and Exchange Commission; or
- to a member of the family of the purchaser or the equivalent, to a trust controlled by the purchaser, to a trust created for the benefit of a member of the family of the purchaser or the equivalent, or in connection with the death or divorce of the purchaser or other similar circumstance.

## Valuation Methodology for Prior Reg CF Raise

The offering price for the securities offered pursuant to this Form C has been determined arbitrarily by the Company, and does not necessarily bear any relationship to the Company's book value, assets, earnings or other generally accepted valuation criteria. In determining the offering price, the Company did not employ investment banking firms or other outside organizations to make an independent appraisal or evaluation. Accordingly, the offering price should not be considered to be indicative of the actual value of the securities offered hereby.

The initial amount invested in a SAFE is determined by the investor, and we do not guarantee that the SAFE will be converted into any particular number of shares of Preferred Stock. As discussed in Question 13, when we engage in an offering of equity interests involving Preferred Stock, Investors may receive a number of shares of Preferred Stock calculated as either (i) the total value of the Investor's investment, divided by the price of the Preferred Stock being issued to new Investors, or (ii) if the valuation for the company is more than the Valuation Cap, the amount invested divided by the quotient of (a) the Valuation Cap divided by (b) the total amount of the Company's capitalization at that time. Because there will likely be no public market for our securities prior to an initial public offering or similar liquidity event, the price of the Preferred Stock that Investors will receive, and/or the total value of the Company's capitalization, will be determined by our board of directors. Among the factors we may consider in determining the price of Preferred Stock are prevailing market conditions, our financial information, market valuations of other companies that we believe to be comparable to us, estimates of our business potential, the present state of our development and other factors deemed relevant. In the future, we will perform valuations of our stock (including both common stock and Preferred Stock) that take into account, as applicable, factors such as the following:

- unrelated third party valuations;

the price at which we sell other securities in light of the relative rights, preferences and privileges of those securities;

our results of operations, financial position and capital resources;

current business conditions and projections;

the marketability or lack thereof of the securities;

the hiring of key personnel and the experience of our management;

the introduction of new products;

the risk inherent in the development and expansion of our products;

our stage of development and material risks related to our business;

the likelihood of achieving a liquidity event, such as an initial public offering or a sale of our company given the prevailing market conditions and the nature and history of our business; industry trends and competitive environment;

trends in consumer spending, including consumer confidence;

overall economic indicators, including gross domestic product, employment, inflation and interest rates; and

the general economic outlook.

We will analyze factors such as those described above using a combination of financial and market-based methodologies to determine our business enterprise value. For example, we may use methodologies that assume that businesses operating in the same industry will share similar characteristics and that the Company's value will correlate to those characteristics, and/or methodologies that compare transactions in similar securities issued by us that were conducted in the market.

## Company

Groomit Inc.

Delaware Corporation

Organized January 2020

20 employees

1091 Yonkers Ave

Yonkers NY 10704 http://www.groomit.me

## Business Description

Refer to the Groomit profile.

## EDGAR Filing

The Securities and Exchange Commission hosts the official version of this annual report on their EDGAR web site. It looks like it was built in 1989.

## Compliance with Prior Annual Reports

Groomit has previously not complied with the reporting requirements under Rule 202 of Regulation Crowdfunding.

Delayed filing

## All prior investor updates

You can refer to the company's updates page to view all updates to date. Updates are for investors only and will require you to log in to the Wefunder account used to make the investment.

Show Less &gt;

**Attachment 4:** `document_4.pdf`

GROOMIT INC.

FINANCIAL STATEMENTS

YEARS ENDED DECEMBER 31, 2024 &amp; 2023

# GROOMIT INC.
## FINANCIAL STATEMENTS
## DECEMBER 31, 2024 &amp; 2023

### INDEX TO FINANCIAL STATEMENTS

|  | Page |
| --- | --- |
| Independent Accountant’s Review Report | 2 - 3 |
| Balance Sheets as of December 31, 2024 and 2023 | 4 - 5 |
| Statements of Operations and Members’ Deficit for the years ended December 31, 2024 and 2023 | 6 |
| Statements of Cash Flows for the years ended December 31, 2024 and 2023 | 7 |
| Notes to Financial Statements | 8 - 15 |
| Supplemental Schedules of Operating Expenses for the years ended December 31, 2024 and 2023 | 16 |

MALHOTRA &amp; PATEL, LLC
CPAs &amp; CONSULTANTS
960 Holmdel Road, Suite 2-02
Holmdel, NJ 07733
Tel: (732) 817-1400    Fax: (732) 817-1401
E-mail: info@amcocpa.com

# INDEPENDENT ACCOUNTANT'S REVIEW REPORT

To the Board of Directors and Stockholders of
**GROOMIT INC.**

We have reviewed the accompanying financial statements of Groomit Inc. (the "Company") which comprise of balance sheets as of December 31, 2024 and 2023, and the related statements of operations and accumulated deficits and statements of cash flows for the years then ended. A review includes primarily applying analytical procedures to management’s financial data and making inquiries of Company management. A review is substantially less in scope than an audit, the objective of which is the expression of an opinion regarding the financial statements as a whole. Accordingly, we do not express such an opinion.

## Management's Responsibility 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; this includes 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.

## Accountant's Responsibility

Our responsibility is to conduct the review engagements in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. Those standards require us to perform procedures to obtain limited assurance as a basis for reporting whether we are aware of any material modifications that should be made to the financial statements for them to be in accordance with accounting principles generally accepted in the United States of America. We believe that the results of our procedures provide a reasonable basis for our conclusion.

We are required to be independent of Groomit Inc. and to meet our other ethical responsibilities, in accordance with relevant ethical requirements related to our review.

## Accountant's Conclusion

Based on our reviews, we are not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in conformity with accounting principles generally accepted in the United States of America.

2

# Supplementary Information

The accompanying supplementary information included on page 16 is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from, and relates directly to, the underlying accounting and other records used to prepare the financial statements. The supplementary information for the years ended December 31, 2024 and 2023 has been subjected to the review procedures applied in our reviews of the basic financial statements. We are not aware of any material modifications that should be made to the supplementary information. We have not audited the supplementary information, and do not express an opinion on such information.

![img-0.jpeg](img-0.jpeg)

Holmdel, New Jersey
May 12, 2025

GROOMIT INC.
BALANCE SHEETS
DECEMBER 31, 2024 2023

|  | ASSETS |  |
| --- | --- | --- |
| Current Assets |  |  |
| Cash and cash equivalents | $10,405 | $76,565 |
| Credit cards receivable | 40,040 | 21,851 |
| Due from affiliates | 45,202 | 58,710 |
| Other current assets | 38,860 | 36,229 |
| Total Current Assets | 134,507 | 193,355 |
| Goodwill, net of amortization | 1,634,230 | 1,837,256 |
| TOTAL ASSETS | $1,768,737 | $2,030,611 |

See Independent Accountant's Review Report and notes to financial statements

GROOMIT INC.
BALANCE SHEETS
DECEMBER 31,
2024
2023

LIABILITIES AND STOCKHOLDERS' EQUITY

| Current Liabilities |  |  |
| --- | --- | --- |
| Accounts payable and accrued expenses | $760,920 | $385,291 |
| Customer advances | 118,861 | - |
| Van security deposits payable | 73,234 | 48,149 |
| Promissory notes payable | 282,000 | 255,500 |
| Promissory notes payable, affiliate | 307,500 | 303,500 |
| Term loans payable | 462,704 | 29,166 |
| Term loan payable, affiliate | 231,547 | 223,178 |
| Sales and payroll taxes payable | 91,247 | 76,749 |
| Accrued interest | 448,260 | 263,615 |
| Total Current Liabilities | 2,776,274 | 1,585,148 |
| Long-term Liabilities |  |  |
| Convertible notes payable | 3,778,600 | 3,717,800 |
| Term loan payable | 195,743 | 67,378 |
| Total Long Term Liabilities | 3,974,342 | 3,785,178 |
| Total Liabilities | 6,750,616 | 5,370,326 |
| Commitments & Contingencies (Notes 4, 5, and 6) |  |  |
| Stockholder's Equity |  |  |
| Common stock | 1,000,000 | 1,000,000 |
| Paid-in-capital | 1,573,431 | 1,406,580 |
| Treasury stock | (850,000) | (850,000) |
| Accumulated deficit | (6,705,311) | (4,896,295) |
| Total stockholder's equity | (4,981,880) | (3,339,715) |
| TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY | $1,768,737 | $2,030,611 |

See Independent Accountant's Review Report and notes to financial statements

GROOMIT INC.
STATEMENTS OF OPERATIONS AND ACCUMULATED DEFICIT
FOR THE YEARS ENDED DECEMBER 31, 2024 2023

| Revenue, net of promotions and discounts | $7,401,985 | $5,888,841 |
| --- | --- | --- |
| Cost of Revenue |  |  |
| Groomers' services cost | 3,679,051 | 3,123,221 |
| Grooming and pet supplies | 66,258 | 67,813 |
| Total Cost of Revenues | 3,745,308 | 3,191,034 |
| Excess of Revenue over Cost | 3,656,677 | 2,697,807 |
| Operating Expenses | 4,820,605 | 3,989,699 |
| Loss from Operations | (1,163,928) | (1,291,892) |
| Other Expenses |  |  |
| Interest expense | 436,561 | 282,582 |
| Depreciation and amortization | 208,526 | 224,355 |
| Total Other Expenses | 645,087 | 506,937 |
| Net Loss before Taxes | (1,809,015) | (1,798,829) |
| Income Tax Expense |  |  |
| Net Loss | (1,809,015) | (1,798,829) |
| Accumulated deficit - beginning | (4,896,295) | (3,097,466) |
| Accumulated deficit - ending | $(6,705,311) | $(4,896,295) |

See Independent Accountant's Review Report and notes to financial statements

See Independent Accountant's Review Report and notes to financial statements

# GROOMIT INC.
## STATEMENTS OF CASH FLOWS
### FOR THE YEARS ENDED DECEMBER 31, 2024

| Cash Flows from Operating Activities | 2024 | 2023 |
| --- | --- | --- |
| Net Loss | $(1,809,015) | $(1,798,829) |
| Adjustments to reconcile net loss to net cash used in operating activities |  |  |
| Depreciation and amortization | 203,026 | 224,355 |
| Accrued interest payable | 197,014 | 267,115 |
| Changes in assets and liabilities |  |  |
| (Increase)/Decrease in credit card receivable | (18,189) | 129,381 |
| (Increase)/Decrease in other current assets | (2,631) | 21,912 |
| Increase in accounts payable and accrued expenses | 375,629 | 181,258 |
| Increase in van security deposits payable | 25,085 | 48,149 |
| Increase in customer advances | 118,861 | - |
| Increase in sales and payroll taxes payable | 14,498 | 41,610 |
| Net Cash Used in Operating Activities | (895,722) | (885,049) |
| Cash Flows from Financing Activities |  |  |
| Proceeds/(Repayment) from term loan payable, net | 561,903 | (340,456) |
| Proceeds from term loan payable, affiliate | - | 223,178 |
| Proceeds from convertible notes payable | 60,800 | 320,120 |
| Proceeds from promissory notes payable | 26,500 | 255,500 |
| Proceeds from promissory notes payable, affiliate | - | 300,000 |
| Proceeds from subscription of capital | 166,851 | 138,500 |
| Purchase of treasury stock | - | (4,000) |
| Due from affiliates, net | 13,508 | (54,611) |
| Net Cash Provided by Financing Activities | 829,562 | 838,231 |
| Net Decrease in Cash | (66,160) | (46,818) |
| Cash and Cash Equivalents - beginning | 76,565 | 123,383 |
| Cash and Cash Equivalents - ending | $10,405 | $76,565 |
| Supplemental disclosures of cash flow information: |  |  |
| Interest Paid | $61,272 | $212,261 |

7

GROOMIT INC.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 AND 2023

# NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

## 1. Organization and Nature of Business

Groomit Inc. and its 100% operating subsidiary Groom It For Pets LLC (the “Company”) are in the business of in-home pet grooming through their mobile platform which connects pet owners and groomers. By connecting owners and groomers directly, the Company offers top quality services which are all conveniently performed in the comfort of pet owners’ homes.

The financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

The financial statements include the accounts of Groomit, Inc. and its operating subsidiary which is considered as a disregarded entity. All significant intercompany transactions and balances have been eliminated in the financial statements.

## 2. Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company reduces credit risk by placing its temporary cash with major financial institutions domestically. At times, such amounts may exceed federally insured limits.

## 3. Cash and Cash Equivalents

Cash and cash equivalents include cash in banks and money market funds as well as other highly liquid investments with an original maturity of three months or less.

## 4. Business Combinations

The Company accounted for its business acquisitions using the acquisition method of accounting. The fair value of the net assets acquired, and liabilities assumed, and the results of the acquired business are included in the financial statements from the acquisition date forward. Any excess of the purchase consideration over the identified fair value of the assets and liabilities acquired is recognized as goodwill. Goodwill acquired in business combinations is assigned to the reporting unit expected to benefit from the combination as of the acquisition date. The Company estimated the fair value of the acquired assets and liabilities as of the date of the acquisition based on information available at that time. The initial valuation of these tangible and identifiable assets and liabilities is subject to further management review and may change between the preliminary allocation and final allocation.

See Independent Accountant’s Review Report

GROOMIT INC.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 AND 2023

# NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

## 5. Revenue Recognition

The Company accounts for revenue with customers by applying the requirements of ASC 606, which include the following steps:

- Identification of the contract with the customer;
- Identification of the performance obligations in the contract;
- Determination of the transaction price;
- Allocation of the transaction price to the performance obligations in the contract; and
- Recognition of revenue when, or as, the Company satisfies a performance obligation.

The Company recognizes revenue when it satisfies a performance obligation by delivering service to a customer. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.

The majority of the Company’s revenue originates from contracts with customers with a single performance obligation to provide pet grooming services to the customer. The Company’s standard payments are processed through online card payment system at the time services are rendered.

The Company’s revenue is reported as the determinable transaction price, net of sales incentives and allowances, and any sales tax collected from a customer.

## 6. Goodwill and Impairment of Long-Lived Assets

In February 2014, the FASB issued ASU 2014-02, Intangibles - Goodwill and Other (FASB ASC Topic 350). Under the amendments in this update, an entity that elects the accounting alternative within GAAP should amortize goodwill on a straight-line basis over 10 years, or less than 10 years if the entity demonstrates that another useful life is more appropriate. An entity that elects this accounting alternative is required to make an accounting policy decision to test goodwill for impairment at either the entity level or the reporting unit level. Goodwill must be tested for impairment when a triggering event occurs that indicates that the fair value of an entity (or a reporting unit) may be below its carrying amount. If it is determined that the fair value of the reporting unit is less than the book value, the recorded goodwill is impaired to its implied fair value with a charge to operating expenses.

Effective January 1, 2023, the Company elected to adopt this accounting alternative. An entity that elects this accounting alternative is required to make an accounting policy decision to test goodwill for impairment at either the entity level or the reporting unit level. As of December 31, 2024, management concluded that no further impairment was present.

See Independent Accountant’s Review Report

GROOMIT INC.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 AND 2023

# NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

## 7. Web development costs

In accordance with FASB ASC 350, Website Development Costs, website development is segregated into three stages or activities. During the initial, or planning stage, all related costs are expensed as incurred. The second phase is the development of the site, which include costs incurred for web application and infrastructure, as well as graphics development. Costs incurred during the second phase are capitalized and then amortized when the website is ready for its intended use. Stage three consists of costs incurred for post-implementation work, such as security, training and administration. Such costs incurred during this phase are expensed as incurred. Expenditures for additional upgrades and features once the website is launched are capitalized if the upgrades and enhancements furnish additional functionality; otherwise, such costs are expensed as incurred.

Website development costs which have been capitalized are being amortized, using the straight-line method, over an estimated useful life of five years.

## 8. Leases

The Company’s operating leases are included within operating lease right-to-use (“ROU”) assets, account payable and accrued expenses, and operating lease liabilities on the combined balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The operating lease ROU asset also includes any lease payments made in advance and is reduced by lease incentives received. As most leases do not provide an implicit rate, the Company uses its risk-free return rate at commencement date in determining the present value of lease payments. Lease terms include options to extend the lease when it is reasonably certain that the Company will exercise that option.

The company’s operating leases are either no more than one year long or are month-to-month. Therefore, the adoption of ASC 842 has had no significant effect on the company’s financial statements.

## 9. Income Taxes

The Company accounts for income taxes pursuant to the asset and liability method which requires deferred income tax assets and liabilities to be computed annually for differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

See Independent Accountant’s Review Report

GROOMIT INC.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 AND 2023

## NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

*Income Taxes (continued)*

The Company recognizes and measures its unrecognized tax benefits in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, Income Taxes. Under that guidance, the Company assesses the likelihood, based on their technical merit, that tax positions will be sustained upon examination based on the facts, circumstances, and information available at the end of each period. The measurement of unrecognized tax benefits is adjusted when new information is available or when an event occurs that requires a change. Management has evaluated the Company’s tax positions and has concluded that the Company has taken no uncertain tax positions that require any adjustment to the financial statements for the years ended December 31, 2024 and 2023.

### 10. Use of Estimates

Management uses estimates and assumptions in preparing the financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported revenues and expenses. Actual results could differ from those statements.

### 11. Subsequent events

The Company has evaluated subsequent events through May 13, 2025, the date on which these financial statements were available to be issued. There were no material subsequent events that required recognition or additional disclosure in these financial statements.

## NOTE 2. GOODWILL

Goodwill is being amortized over a period of ten (10) years and consisted of the following as of December 31, 2024 and 2023:

|  | 2024 | 2023 |
| --- | --- | --- |
| Opening Goodwill | $2,047,507 | $2,047,507 |
| Add: Additions during the year | - | - |
| Less: Accumulated Amortization | (415,002) | (210,251) |
| Closing Goodwill, net | $1,632,505 | $1,837,256 |

Amortization expense at December 31, 2024 and 2023 was $204,751.

## NOTE 3. DUE FROM AFFILIATES

Due from Affiliates represents non-interest bearing advances to its affiliates. The advances are short term receivables between the company and its affiliates. For the years ended December 31, 2024 and 2023 the balance receivable was $45,202 and $58,710 respectively.

See Independent Accountant’s Review Report

GROOMIT INC.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 AND 2023

# NOTE 4. TERM LOANS PAYABLE

(a) The Company, from time to time, has borrowed monies from a finance company at different terms and maturity dates as listed below. Payments for these loans are due weekly, which include principal and interest. For the years ended December 31, 2024 and 2023, the following was the principal amount due:

| Loan Date | Loan Amount | Installments | Weekly Installment amount | Balance at December 31, 2024 | Balance at December 31, 2023 |
| --- | --- | --- | --- | --- | --- |
| April 26, 2022 | $300,000 | 96-weekly | $3,875 | $ - | $12,169 |
| September 19, 2023 | 100,000 | 96-weekly | 1,312 | 29,166 | 84,375 |
| January 30, 2024 | 226,250 | 96-weekly | 3,333 | 131,229 |  |
| March 29, 2024 | 150,000 | 96-weekly | 2,031 | 97,203 |  |
| June 13, 2024 | 150,000 | 108-weekly | 1,933 | 120,486 |  |
| September 6, 2024 | 150,000 | 104-weekly | 1,947 | 131,403 |  |
| December 31, 2024 | 150,000 | 104-weekly | 1,947 | 148,960 |  |
|  | $1,226,250 |  |  | $658,447 | $96,544 |

As of December 31, 2024, maturities in aggregate for the future years are summarized as follows:

Year ending December 31:
2025
Thereafter

Amount
$462,704
195,743

(b) On June 15, 2023, the Company borrowed $250,000 from a third-party lender against part of its future revenues guaranteed by the Company, its members, and its affiliates. The loan was payable in eighteen monthly installments of $10,000 including interest with a balloon payment of $132,168 due on November 1, 2024.

The Company defaulted on the loan and made only three (3) payments of $10,000 during the year 2023 leaving a principal balance of $223,178 payable at December 31, 2023.

On October 1, 2024, the company renegotiated the loan wherein the company’s affiliate assumed the note from the third-party lender for balance due of $223,178.

The new terms of the loan with the affiliate called for a total balance of $290,132 payable over twenty-four (24) equal monthly installments of $12,089 starting October 1, 2024 which includes interest at 15% per annum.

The company had defaulted on the payments to its affiliate. Total due on this loan including interest through December 31, 2024 was $231,547.

See Independent Accountant’s Review Report

GROOMIT INC.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 AND 2023

## NOTE 5. CONVERTIBLE PROMISSORY NOTES PAYABLE

Starting December 30, 2020, the Company issued convertible promissory notes to its members and other third parties for cash proceeds aggregating to an approximate amount of $3,800,000. The notes accrued interest at various rates ranging from simple interest of 5% to 6% per annum and had an original maturity date of thirty-six months from the issuance date which has been extended for another thirty six months. Per the agreement, the option to repay the Notes monetarily or by conversion to stock is at the discretion of the Note holder.

The Company, at the option of the note holder, will convert the exercised portion of the outstanding principal and interest of the note holder into voting shares for $1 per share at a premium value ranging from $2 - $5 per share as per their agreement.

The Convertible Promissory Note are not deemed equity and are classified as a liability on the Company’s balance sheets.

Interest recognized for the years ended December 31, 2024 and 2023 amounted to $188,395 and $183,734 respectively.

## NOTE 6. PROMISSORY NOTES PAYABLE

(a) On November 18, 2021, the Company signed a promissory note with Komal of USA LLC in the amount of $250,000. The note provides for an interest rate of 12% per annum payable monthly, interest only. The principal amount together with any accrued and unpaid interest thereon is due and payable on December 31, 2025.

Interest for the years ended December 31, 2024 and 2023 amounted to $30,000 each year. The principal balance and unpaid interest due on this note at December 31, 2024 and 2023 was $282,000 and $255,500 respectively.

(b) On October 10, 2023, the Company signed a promissory note with Sajeda Kapadia, person related to the Officer of the Company, in the amount of $300,000. The note provides for an interest rate of 15% per annum payable monthly, interest only. The principal amount together with any accrued and unpaid interest thereon is due and payable on December 31, 2025.

Interest for the years ended December 31, 2024 and 2023 amounted to $45,000 and $11,250 respectively. The principal balance and unpaid interest due on this note at December 31, 2024 and 2023 was $307,500 and $303,500 respectively.

## NOTE 7. INCOME TAXES

Groomit Inc. and its 100% owned subsidiary Groom It For Pets LLC, which is considered as a disregarded entity for income tax purposes file a combined income tax return. The company utilizes the accrual method of accounting and file as a “C” Corporation for federal and state tax purposes.

See Independent Accountant’s Review Report

GROOMIT INC.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 AND 2023

# NOTE 7. INCOME TAXES (continued)

The Company's provision for income taxes reflects the application of federal and state statutory rates to the Company's income before taxes. For the years ended December 31, 2024 and 2023, the Company's effective tax rate was 28% each year. Components of the provision for income taxes is as follows:

The provision for income taxes for years December 31, 2024 and 2023 are summarized as follow:

|  | 2024 | 2023 |
| --- | --- | --- |
| Current |  |  |
| Federal | $ - | $ - |
| State | - | - |
| Total provision for income taxes | $ - | $ - |

The Deferred Taxes are summarized as follows:

|  | 2024 | 2023 |
| --- | --- | --- |
| Deferred Tax Assets |  |  |
| Federal | $379,100 | 377,754 |
| State | 126,367 | 125,918 |
| Total Gross Deferred Tax Asset | 505,467 | 503,672 |
| Less: Federal Liabilities on deferred state tax benefits | (26,500) | (26,400) |
| Net Deferred Tax Asset | 478,967 | 477,272 |
| Valuation Allowance | (478,967) | (477,272) |
| Net Deferred Tax Asset | $ - | - |

Realization of deferred tax assets is dependent upon the generation of future taxable income. As required by ASC 740 Income Taxes, the Company evaluated the positive and negative evidence bearing upon its ability to realize the deferred tax assets as of December 31, 2024 and 2023. As a result of the fact that the Company has incurred tax losses from inception, the Company has determined that it was more likely than not that the Company would not realize the benefits of federal and state net deferred tax assets. Accordingly, a full valuation allowance was established against the net deferred tax assets as of December 31, 2024 and 2023.

Changes in the valuation allowance for deferred tax assets during the years ended December 31, 2024 and 2023 were as follows:

|  | 2024 | 2023 |
| --- | --- | --- |
| Opening Valuation Allowance | $1,299,562 | $822,290 |
| Increases recorded to Income Tax Provision | 478,967 | 477,272 |
| Closing Valuation Allowance | $1,778,529 | $1,299,562 |

See Independent Accountant's Review Report

GROOMIT INC.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 AND 2023

# NOTE 8. RELATED PARTY TRANSACTIONS

(a) The Company has leased Mobile-grooming Vans from businesses that are related or affiliates of the Company. It has a Profit-sharing Agreement with each of the van vendors who charge commission per grooming service provided through the vans.

Commissions paid to vendors related or affiliated to company for the years ended December 31, 2024 and 2023 was $679,824 and $572,099 respectively.

(b) The company also rents an office from an affiliate on a month-to-month lease. The rent expense on this lease for the years ended December 31, 2024 and 2023 was $140,000 and $120,000 respectively.

(c) As noted in NOTE 5 above, the company has issued several convertible promissory notes to its members and affiliates of the company. Balance payable on these convertible notes amounted to $725,028 as at December 31, 2024 and 2023.

(d) As noted in NOTE 6 above, the company has issued a promissory note to a person related to the officer of the company. Balance payable on these convertible notes amounted to $300,000 as at December 31, 2024 and 2023.

See Independent Accountant's Review Report

**Attachment 5:** `document_5.pdf`

Page 1 of 2

# Contact

www.linkedin.com/in/anna-zege-8ab4a428 (LinkedIn)

## Top Skills

- Wealth Management
- Estate Planning Strategies
- Retirement Planning Services

# Anna Zege

Cofounder at Groomit for Pets, LLC
New York, New York, United States

## Experience

Groomit for Pets, LLC
Cofounder
February 2017 - Present (8 years 5 months)
Greater New York City Area

## Zegzy Baby (Formely Haute Doggy Style)

Founder and CEO
July 2010 - Present (15 years)
New York, NY

- Founder and operator of retail company selling high-end line of canine fashion apparel.
- Design apparel line, source and purchase all materials and coordinate with production facility.
- Handle all marketing and sales.
- Conduct sales online and through third party retail stores.

## AXA Advisors

Financial Professional
March 2014 - April 2017 (3 years 2 months)
Greater New York City Area

AXA Advisors, LLC (NY, NY), member SIPC. AXA Network, LLC; AXA Network Insurance Agency of California, LLC in CA; AXA Network Insurance Agency of Utah, LLC in UT; AXA Network of Puerto Rico, Inc. in PR. EOE M/F/D/V.

## RJS Realty Acquisitions

Real Estate Analyst Internship
June 2008 - August 2008 (3 months)
New York, NY

- Worked with real estate agents to identify potential multi-tenant commercial properties for acquisition.
- Analyzed commercial properties for potential acquisition, performed market valuations and due diligence review.

- Worked with commercial leasing agents to market properties to prospective tenants.
- Worked with management agents to reduce property expenses and increase cash flow.

## Cecil Grace Foundation
Personal Assistant/Researcher and editor
November 2007 - May 2008 (7 months)
New York, NY

- Assisted in the compilation, drafting and editing of diet and nutrition book.
- Conducted research on numerous diet and nutrition regimens.
- Assisted in planning and coordinating fundraising events for children's educational charity.

## Boss Models
Runway and Print Advertising Model
January 2006 - January 2007 (1 year 1 month)
New York

## Education
New York University
Economics, Economics · (2004 - 2008)

Page 2 of 2

**Attachment 6:** `document_6.pdf`

Page 1 of 1

# Contact

www.linkedin.com/in/mohamed-kapadia-76857a206 (LinkedIn)

## Top Skills

- Business Consulting
- Microsoft PowerPoint
- Microsoft Excel

# Mohamed Kapadia

Vice president of Groomit for Pets.
*White Plains, New York, United States*

## Summary

Graduate from Fordham University with a degree in Finance. Vice President of Groomit, leading the creation of an innovative tech platform connecting dog owners and groomers. Expertise in financial analysis, strategic planning, and business development, driving the success and growth of the marketplace.

## Experience

### Groomit for Pets, LLC

**Vice President of Finance And Operations**
January 2022 - Present (3 years 5 months)
*Yonkers, New York, United States*

Plan, direct, coordinate, and oversee operations activities in the organization, ensuring development and implementation of efficient operations and cost-effective systems to meet current and future needs of the organization.

### Groomit for Pets

**Head Of Supply Chain Management**
January 2020 - January 2022 (2 years 1 month)
*Yonkers, New York, United States*

Manage supply relationships with 100+ groomers. Helping to keep track of groomer appointment preparations.

## Education

### Fordham University

Bachelor of Business Administration - BBA, Finance · (2020 - 2024)

**Attachment 7:** `document_7.pdf`

Page 1 of 4

# Contact

www.linkedin.com/in/larsrissmann (LinkedIn)
www.myblack011.com (Company)
www.blackwireless.com (Company)
larsrissmann.brandyourself.com/ (Personal)

# Top Skills

Telecommunications
Wireless
Business Development

# Languages

German
English

# Certifications

Digital Marketing - SEO - SEM
Digital Marketing

# Lars R.

COO &amp; Co-Founder Groomit for Pets - eCommerce - StartUps - Mobile Applications
New York City Metropolitan Area

# Summary

Dynamic career reflecting over 15 years of executive experience and record-breaking performance greatly increasing profits for industry leaders. Results-driven, multilingual professional who spurs new business through excellent customer service and establishing long-term partnerships with key clients to increase channel revenue. Outstanding tenure with a history showcasing promotions to positions handling additional authority and responsibility. Consistently exceeds all personal and corporate quotas in highly competitive environments. Self-starter with a track record that demonstrates motivation, focus, and the creativity to achieve both personal and corporate goals.

# Experience

## Groomit for Pets

### Chief Operations Officer

February 2017 - Present (8 years 5 months)
New York, New York

Working with CEO, executive team and investors to define and execute growth strategies

- Business Development, Marketing, Sales
- Recruiting and team building
- Financing and Venture Capitalist
- UX Design and app development

## Lebara

### Sales Representative - East USA

April 2015 - August 2016 (1 year 5 months)
Greater New York City Area

- Developing strategy, tactics, sales plans and profit targets
- Plan and execute innovative direct marketing and sales activities

- Ensured strong client relations and prompt inventory by accurately managing all supply chain and customer service aspects of the region
- Developed innovative and successful local and national market level initiatives and promotions to build brand development and recognition
- Leveraged consultative sales strengths to identify opportunities, nurture relationships and close deals
- Developed lasting relationships with contacts at which prove to be an excellent referral source

## Black Wireless
### Director of Sales and Business Development
August 2014 - April 2015 (9 months)

- Continuously improve processes to successfully manage Business Development, Marketing, &amp; Account Management teams &amp; have increased online revenues by over 120%
- Streamlined day-to-day operations of the E-Commerce Platform
- Managing Social Media &amp; Online Marketing Platform &amp; Budget
- Develop and grow relationships with key distribution and carrier partners
- Plan and execute direct marketing and sales activities to develop sales
- Maintain and develop new and existing clients through planned individual account support
- Provide strategic leadership in Internet Marketing; including SEO of blog posts, website content, email strategy, and landing page optimization, resulting in a 300% - 500% increase in engagement across the board.
- Strategically analyze market conditions and perform competitive analysis and market research on consumer pain points and further craft compelling copy for marketing materials including white papers, data sheets, case studies, and product sheets for senior management to be integrated into key campaign development.

## Mox Telecom America Inc.
14 years 5 months

### Director of Sales America
June 2006 - July 2014 (8 years 2 months)

- Identifying and reporting on business opportunities in target markets
- Maximizing new business development opportunities
- Developing strategy, tactics, sales plans and profit targets
- Lead and developed a team of tenured sales professionals resulting in consistently exceeding sales quotas
- Plan and execute innovative direct marketing and sales activities

Page 2 of 4

- Implemented highly successful technology solutions for streamlining new product introduction, product lifecycle management, VOIP rollouts and back office integration
- Lead and developed a team of tenured sales professionals resulting in consistently exceeding sales quotas by generating over $xxxxx in net profit
- Ensured strong client relations and prompt inventory by accurately managing all supply chain and customer service aspects of the region
- Developed innovative and successful local and national market level initiatives and promotions to build brand development and recognition
- Developed and promoted three sales representatives into management roles - including two new college recruits
- Exceeded corporate and personal quotas on a consistent basis, breaking prior records and earning numerous incentive awards
- Leveraged consultative sales strengths to identify opportunities, nurture relationships and close deals
- Developed lasting relationships with contacts at which prove to be an excellent referral source
- Worked with the service departments to create procedures to increase customer service and improve customer satisfaction and loyalty

## Director of Sales Germany

March 2000 - May 2006 (6 years 3 months)

### Ratingen / Germany

- Developing strategy, tactics, sales plans and profit targets while under strict budget constraints and always exceeding expectations
- Developed innovative and successful local and national market level initiatives and promotions to build brand recognition
- Identifying and reporting on business opportunities in target markets
- Representing the business at conferences, trade fairs and networking events
- Ensured strong client relations and prompt inventory by accurately managing all supply chain

## Debitel AG

### Sales Representative

May 1998 - February 2000 (1 year 10 months)

- Managed closing duties, including restocking items and reconciliation of the cash drawer
- Collaborated with other team members on special projects
- Set up in Store events &amp; promotions

Page 3 of 4

Wallwitz GmbH
Gross und Aussenhandelskaufmann
September 1995 - August 1998 (3 years)
Apprenticeship Sales &amp; Distribution
http://en.wikipedia.org/wiki/Apprenticeship

---

Education

Ashford University
In Progress, Business Administration and Management, General · (2013)

Hoehere Handelssschule (Business)
Fachhochschulreife, Business/Commerce, General · (1993 - 1995)

Page 4 of 4

**Attachment 8:** `document_8.pdf`

Page 1 of 2

# Contact

www.linkedin.com/in/sohel-kapadia-3a256b3a (LinkedIn)
www.sdicard.com (Company)

# Top Skills

- Business Development
- Management
- Telecommunications

# Sohel Kapadia

Serial Entrepreneur - Telecommunications - MVNO - Real Estate - Pet Grooming on demand
Yonkers, New York, United States

# Summary

Serial Entrepreneur build up multiple telecommunications companies, exceeding over 10 millions monthly users. Grossing over $100 million over decades. Developed multiple mobile phone and on demand service apps.

# Experience

Groomit for Pets, LLC
9 years 6 months

Cofounder groomit
January 2016 - Present (9 years 6 months)

Co-Founder
July 2017 - Present (8 years)
Greater New York City Area

Fisk Management LLC
owner/managing member
September 2011 - Present (13 years 10 months)
Greater New York City Area

Luxury Home Developments

Groomit for Pets
Co-Founder
May 2017 - Present (8 years 2 months)
Greater New York City Area

Groomit is an app Based on demand service, offering in home pet grooming in real time. Convenient at your time &amp; your place.

Black Wireless
CEO
January 2013 - September 2020 (7 years 9 months)
Greater New York City Area

Black Wireless is a prepaid wireless service, providing low cost wireless service like talk, text, data and international calling. For more info check www.blackwireless.com

## SDI Telecom

CEO

January 2014 - July 2019 (5 years 7 months)

Greater New York City Area

SDI Telecom buys and sells wholesale termination to catering SDI Retail Customers in USA. We have over 100 direct interconnections.

## Black011 B2B Solutions

CEO

January 2011 - July 2019 (8 years 7 months)

Greater New York City Area

Black011 B2B Solution is a web portal that connects over 30.000 Retail Locations in USA with our Platform. Black011 has over 1 million monthly users. We offer multiple services like Mobile Sim Cards, Pay International Bills, Mobile Bills, International Top Ups and International Long Distance Services.

## SDI-Sohel Distributors

CEO

January 1996 - July 2019 (23 years 7 months)

Greater New York City Area

SDI was found to cater for all immigrants in USA to make international calls on prepaid basis.

SDI Network with indirect and direct distribution channels reach over 100.000 nationwide locations and service over 10 million monthly users.

---

## Education

Navsari

Bachelor's degree, Mathematics · (1990 - 1992)

Page 2 of 2

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

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** Groomit Inc.

**Legal Status:** Corporation

**Jurisdiction of Incorporation/Organization:** DE

**Date of Organization:** 01-01-2020

**Physical Address:** 1091 Yonkers Ave, Yonkers, NY, 10704

**Issuer Website:** http://www.groomit.me

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

### Annual Report Disclosure Requirements

**Current Number of Employees:** 20

**Total Assets (Most Recent Fiscal Year):** $1,768,737.00

**Total Assets (Prior Fiscal Year):** $2,030,611.00

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $10,405.00

**Cash & Cash Equivalents (Prior Fiscal Year):** $76,565.00

**Accounts Receivable (Most Recent Fiscal Year):** $1,071.00

**Accounts Receivable (Prior Fiscal Year):** $0.00

**Short-Term Debt (Most Recent Fiscal Year):** $2,776,274.00

**Short-Term Debt (Prior Fiscal Year):** $1,585,148.00

**Long-Term Debt (Most Recent Fiscal Year):** $3,974,342.00

**Long-Term Debt (Prior Fiscal Year):** $3,785,178.00

**Revenues/Sales (Most Recent Fiscal Year):** $7,401,985.00

**Revenues/Sales (Prior Fiscal Year):** $5,888,841.00

**Cost of Goods Sold (Most Recent Fiscal Year):** $3,745,308.00

**Cost of Goods Sold (Prior Fiscal Year):** $3,191,034.00

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

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

**Net Income (Most Recent Fiscal Year):** $-1,809,015.00

**Net Income (Prior Fiscal Year):** $-1,798,829.00

### Signatures

**Issuer:** Groomit Inc.

**Signature:** Faez KAPADIA

**Title:** VP

---

**Signature:** Faez KAPADIA

**Title:** VP

**Date:** 06-05-2025

---

**Signature:** Anna Zege

**Title:** Founder

**Date:** 06-05-2025

---

**Signature:** Lars Rissmann

**Title:** COO

**Date:** 06-05-2025