# EDGAR Filing Document

**Accession Number:** 0001850978
**File Stem:** 0001670254-25-000659
**Filing Date:** 2025-6
**Character Count:** 299353
**Document Hash:** 2715edd18a6a6f925911a5898a3bd3ae
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001670254-25-000659.hdr.sgml**: 20250618

**ACCESSION NUMBER**: 0001670254-25-000659

**CONFORMED SUBMISSION TYPE**: C

**PUBLIC DOCUMENT COUNT**: 23

**FILED AS OF DATE**: 20250618

**DATE AS OF CHANGE**: 20250617

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EndoSound, Inc.
- **CENTRAL INDEX KEY:** 0001850978

**ORGANIZATION NAME:**
- **EIN:** 851432309
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** C
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-36044
- **FILM NUMBER:** 251054780

**BUSINESS ADDRESS:**
- **STREET 1:** 4640 S. MACADAM AVE.
- **STREET 2:** SUITE 200
- **CITY:** PORTLAND
- **STATE:** OR
- **ZIP:** 97239
- **BUSINESS PHONE:** (503) 887-1980

**MAIL ADDRESS:**
- **STREET 1:** 4640 S. MACADAM AVE. STE 200
- **STREET 2:** SUITE 200
- **CITY:** PORTLAND
- **STATE:** OR

## Ex-99

### Attached PDF Documents

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

# Form C

---

## Cover Page

**Name of issuer:**
ENDOSOUND, INC.

**Legal status of issuer:**
Form: Corporation
Jurisdiction of Incorporation/Organization: DE
Date of organization: 6/17/2016

**Physical address of issuer:**
4640 S. Macadam Ave. Ste 200
Portland OR 97239

**Website of issuer:**
https://endosound.com

**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

Amount of compensation to be paid to the intermediary, whether as a dollar amount or a percentage of the offering amount, or a good faith estimate if the exact amount is not available at the time of the filing, for conducting the offering, including the amount of referral and any other fees associated with the offering:

6.5% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.

Any other direct or indirect interest in the issuer held by the intermediary, or any arrangement for the intermediary to acquire such an interest:

No

Type of security offered:

☐ Common Stock
☐ Preferred Stock
☐ Debt
☑ Other

If Other, describe the security offered:

Convertible Note

Target number of securities to be offered:

50,000

Price:

$1.000000

Method for determining price:

Pro-rated portion of the total principal value of $50,000; interests will be sold in increments of $1; each investment is convertible to one share of stock as described under Item 13.

Target offering amount:

$50,000.00

Oversubscriptions accepted:

☑ Yes
☐ No

If yes, disclose how oversubscriptions will be allocated:

☐ Pro-rata basis
☐ First-come, first-served basis
☑ Other

If other, describe how oversubscriptions will be allocated:

As determined by the issuer

Maximum offering amount (if different from target offering amount):

$1,235,000.00

Deadline to reach the target offering amount:
4/30/2026

NOTE: If the sum of the investment commitments does not equal or exceed the target offering amount at the offering deadline, no securities will be sold in the offering, investment commitments will be cancelled and committed funds will be returned.

Current number of employees:
10

|  | Most recent fiscal year-Prior fiscal |  |
| --- | --- | --- |
|  | end: | year-end: |
| Total Assets: | $905,616.00 | $2,080,299.00 |
| Cash & Cash Equivalents: | $422,660.00 | $1,356,366.00 |
| Accounts Receivable: | $89,009.00 | $28,414.00 |
| Current Liabilities: | $1,805,222.00 | $486,570.00 |
| Non-Current Liabilities: | $0.00 | $0.00 |
| Revenues/Sales: | $1,541,507.00 | $1,551,500.00 |
| Cost of Goods Sold: | $301,574.00 | $0.00 |
| Taxes Paid: | $0.00 | $0.00 |
| Net Income: | ($2,627,439.00) | ($3,400,147.00) |

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:
ENDOSOUND, INC.

## COMPANY ELIGIBILITY

2. ☐ Check this box to certify that all of the following statements are true for the issuer.

- Organized under, and subject to, the laws of a State or territory of the United States or the District of Columbia.
- Not subject to the requirement to file reports pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934.
- Not an investment company registered or required to be registered under the Investment Company Act of 1940.
- Not ineligible to rely on this exemption under Section 4(a)(6) of the Securities Act as a result of a disqualification specified in Rule 503(a) of Regulation Crowdfunding.
- Has filed with the Commission and provided to investors, to the extent required, the ongoing annual reports required by Regulation Crowdfunding during the two years immediately preceding the filing of this offering statement (or for such shorter period that the issuer was required to file such reports).
- Not a development stage company that (a) has no specific business plan or (b) has indicated that its business plan is to engage in a merger or acquisition with an unidentified company or companies.

INSTRUCTION TO QUESTION 2: If any of these statements are not true, then you are NOT eligible to rely on this exemption under Section 4(a)(6) of the Securities Act.

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

# 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 |
| --- | --- | --- | --- |
| Scott S Corbett | Chief Technology Officer | EndoSound, Inc. | 2020 |
| Stephen Steinberg | Executive | Boca Raton Regional Hospital | 2020 |
| Morris Sandler | Entrepreneur & Board Member | Entrepreneur & Board Member | 2021 |
| Brian Tinkham | Executive | GI Windows | 2022 |
| Nicholas Puro | Executive | BNM Bank Corp | 2023 |
| William Rhodes | Executive | Advisor - Board Member | 2023 |

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 |
| --- | --- | --- |
| Scott S Corbett | Chief Technology Officer | 2020 |
| Scott Clayton Aldrich Jr | CEO | 2023 |
| Stephen Steinberg | Chief Medical Officer | 2020 |
| Josh Cohn | Chief Commercial Officer | 2021 |
| Paul Henwood | Chief Operating Officer | 2023 |

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

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 |
| --- | --- | --- |
| Stephen Steinberg | 6067109.0 Common & Preferred | 41.2 |

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

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to

lose your entire investment.

In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document.

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:

Regulatory Risk: EndoSound's products are subject to extensive regulation by the U.S. Food and Drug Administration (FDA) and other regulatory bodies. There can be no assurance that the Company's devices will continue to receive necessary regulatory clearances or approvals in a timely manner, or at all for subsequent product submissions. Failure to obtain such approvals could delay or prevent further commercialization and materially impact the Company's prospects.

Early-Stage Company Risk: EndoSound is an early-stage company with a limited operating history and limited revenues. There is no assurance that the Company will achieve profitability or generate positive cash flow. Investors may lose part or all of their investment.

Market Adoption and Competition: The Company's devices must achieve broad market acceptance among healthcare providers and institutions. The medical device industry is highly competitive, with established players having greater financial and marketing resources. Failure to gain market traction or respond to competitive pressures could adversely affect business performance.

Manufacturing and Supply Chain Risks: EndoSound's products will need to be manufactured to precise standards at scale. Delays, cost overruns, quality control issues, or supply chain disruptions could hinder product delivery and commercial success.

Economic and Market Conditions: Unfavorable macroeconomic conditions, including rising interest rates, inflation, or market volatility, could impair investor appetite.

impact capital availability, and delay product adoption in healthcare institutions with constrained budgets.

Legal and Compliance Risks: Healthcare and medical device companies operate in a complex legal and regulatory environment. Non-compliance with applicable laws, including those related to FDA regulations, HIPAA, or anti-kickback statutes, could result in significant fines, sanctions, or litigation.

Financing and Liquidity Risk: Substantial capital is required to fund research and development, clinical testing, regulatory processes, and commercialization. Future fundraising efforts may dilute existing investors and there can be no assurance that additional capital will be available on favorable terms or at all.

Dependence and growth of Key Personnel: The Company is highly dependent on the continued services of its executive team and key technical personnel. Our future success depends on the efforts of a small management team. The loss of services of the members of the 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.

Stephen Steinberg is a part-time officer. As such, it is likely that the company will not make the same progress as it would if that were not the case.

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.

# The Offering

## USE OF FUNDS

9. What is the purpose of this offering?

The Company intends to use the net proceeds of this offering for working capital and general corporate purposes, which includes the specific items listed in Item 10 below. While the Company expects to use the net proceeds from the Offering in the manner described above, it cannot specify with certainty the particular uses of the net proceeds that it will receive from this Offering. Accordingly, the Company will have broad discretion in using these proceeds.

10. How does the issuer intend to use the proceeds of this offering?

If we raise: $50,000

Use of Proceeds: 52% towards Gen2 Product Release, 19% on Sales and Marketing Efforts, 16% on General and Administrative costs and 6.5% on inventory, 6.5% Wefunder fee

If we raise: $1,235,000

Use of Proceeds: 35% on Sales and Marketing Efforts, 29% towards Gen2 Product Release, 14% on inventory and, 15.5% on General and Administrative costs, 6.5% Wefunder fee. Raising our maximum would allow us to complete our Gen2 product and begin to commercialize it in the United States.

INSTRUCTION TO QUESTION 10: An issuer must provide a reasonably detailed description of any intended use of proceeds, such that investors are provided with an adequate amount of information to understand how the offering proceeds will be used. If an issuer has identified a range of possible uses, the issuer should identify and describe each probable use and the factors the issuer may consider in allocating proceeds among the potential uses. If the issuer will accept proceeds in excess of the target offering amount, the issuer must describe the purpose, method for allocating oversubscriptions, and intended use of the excess proceeds with similar specificity. Please include all potential uses of the proceeds of the offering, including any that may apply only in the case of oversubscriptions. If you do not do so, you may later be required to amend your Form C. Wefunder is not responsible for any failure by you to describe a potential use of offering proceeds.

## DELIVERY &amp; CANCELLATIONS

11. How will the issuer complete the transaction and deliver securities to the investors?

Book Entry and Investment in the Co-Issuer. Investors will make their investments by investing in interests issued by one or more co-issuers, each of which is a special purpose vehicle (“SPV”). The SPV will invest all amounts it receives from investors in securities issued by the Company. Interests issued to investors by the SPV will be in book entry form. This means that the investor will not receive a certificate representing his or her investment. Each investment will be recorded in the books and records of the SPV. In addition, investors’ interests in the investments will be recorded in each investor’s “Portfolio” page on the Wefunder platform. All references in this Form C to an Investor’s investment in the Company (or similar phrases) should be interpreted to include investments in a SPV.

12. How can an investor cancel an investment commitment?

NOTE: Investors may cancel an investment commitment until 48 hours prior to the deadline identified in these offering materials.

The intermediary will notify investors when the target offering amount has been met. If the issuer reaches the target offering amount prior to the deadline identified in the offering materials, it may close the offering early if it provides notice about the new offering deadline at least five business days prior to such new offering deadline (absent a material change that would require an extension of the offering and reconfirmation of the investment commitment).

If an investor does not cancel an investment commitment before the 48-hour period prior to the offering deadline, the funds will be released to the issuer upon closing of the offering and the investor will receive securities in exchange for his or her investment.

If an investor does not reconfirm his or her investment commitment after a material change is made to the offering, the investor's investment commitment will be cancelled and the committed funds will be returned.

An Investor's right to cancel. An Investor may cancel his or her investment commitment at any time until 48 hours prior to the offering deadline.

If there is a material change to the terms of the offering or the information provided to the Investor about the offering and/or the Company, the Investor will be provided notice of the change and must re-confirm his or her investment commitment within five business days of receipt of the notice. If the Investor does not reconfirm, he or she will receive notifications disclosing that the commitment was cancelled, the reason for the cancellation, and the refund amount that the investor is required to receive. If a material change occurs within five business days of the maximum number of days the offering is to remain open, the offering will be extended to allow for a period of five business days for the investor to reconfirm.

If the Investor cancels his or her investment commitment during the period when cancellation is permissible, or does not reconfirm a commitment in the case of a material change to the investment, or the offering does not close, all of the Investor's funds will be returned within five business days.

Within five business days of cancellation of an offering by the Company, the Company will give each investor

the Company, the Company will give each investor notification of the cancellation, disclose the reason for the cancellation, identify the refund amount the Investor will receive, and refund the Investor's funds.

The Company's right to cancel. The Investment Agreement you will execute with us provides the Company the right to cancel for any reason before the offering deadline.

If the sum of the investment commitments from all investors does not equal or exceed the target offering amount at the time of the offering deadline, no securities will be sold in the offering, investment commitments will be cancelled and committed funds will be returned.

# Ownership and Capital Structure

## THE OFFERING

13. Describe the terms of the securities being offered.

Convertible note with $45,000,000.00 valuation cap; 20.000% discount; 5.0% interest. See exact security attached as Appendix B, Investor Contracts.

Type of Security: Convertible Promissory Notes ("Notes").

Amount to be Offered: The goal of the raise is $1,235,000.00

Valuation Cap: $45,000,000.00

Discount Rate: 80%

Maturity Date: 8 months from the Effective Date.

Interest Rate: 5.0%. Interest shall commence with the date of the convertible note and shall continue on the outstanding principal amount until paid in full or converted. Interest shall be computed on the basis of a year of 365 days for the actual number of days elapsed. All unpaid interest and principal shall be due and payable upon request of the Majority Holders on or after the Maturity Date.

## Conversion and Repayment

(a) Conversion Upon Qualified Financing Conversion upon a Qualified Financing. In the event that the Company issues and sells its equity securities to investors (the "Investors") while this Note remains outstanding in an equity financing with total proceeds to the Company of not less than $1000000 (excluding the conversion of the Notes or other

convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)) (a “Qualified Financing”), then the outstanding principal amount of this Note and any unpaid accrued interest shall automatically convert in whole without any further action by the Holder into Equity Securities sold in the Qualified Financing at a conversion price equal to the lesser of (i) the price paid per share for Equity Securities by the Investors in the Qualified Financing multiplied by 0.8, and (ii) the quotient resulting from dividing $45000000 by the number of outstanding shares of common stock of the Company immediately prior to the Qualified Financing (assuming conversion of all securities convertible into common stock and exercise of all outstanding options and warrants, but excluding the shares of equity securities of the Company issuable upon the conversion of the Notes or other convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)). The issuance of Equity Securities pursuant to the conversion of this Note shall be upon and subject to the same terms and conditions applicable to Equity Securities sold in the Qualified Financing.

Notwithstanding this paragraph, if the conversion price of the Notes as determined pursuant to this paragraph (the "Conversion Price") is less than the price per share at which Equity Securities are issued in the Qualified Financing, the Company may, solely at its option, elect to convert this Note into shares of a newly created series of preferred stock having the identical rights, privileges, preferences and restrictions as Equity Securities issued in the Qualified Financing, and otherwise on the same terms and conditions, other than with respect to (if applicable): (i) the per share liquidation preference and the conversion price for purposes of price-based anti-dilution protection, which will equal the Conversion Price; and (ii) the per share dividend, which will be the same percentage of the Conversion Price as applied to determine the per share dividends of the Investors in the Qualified Financing relative to the purchase price paid by the Investors.

(b) Conversion upon a Change of Control. If the Company consummates a Change of Control (as defined in the Convertible Note) while this Note remains outstanding, the Company shall repay the Holder in cash in an amount equal to the outstanding principal amount of this Note plus any unpaid accrued interest on the original principal. For purposes of this Note, a "Change of Control" means (i) a consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, other than any such consolidation, merger or reorganization in which the shares of capital stock of the Company immediately prior to such consolidation, merger or reorganization continue to represent a majority of the voting power of the surviving entity immediately after such consolidation, merger or reorganization; (ii) any transaction or series of related transactions to which the Company is a party in which in excess of 50% of the Company's voting power is transferred; or (iii) the sale or transfer of all or substantially all of the Company's assets, or the exclusive license of all or substantially all of the Company's material intellectual property; provided that a Change of Control shall not

include any transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by the Company or any successor, indebtedness of the Company is cancelled or converted or a combination thereof. The Company shall give the Holder notice of a Change of Control not less than 10 days prior to the anticipated date of consummation of the Change of Control. Any repayment pursuant to this paragraph in connection with a Change of Control shall be subject to any required tax withholdings, and may be made by the Company (or any party to such Change of Control or its agent) following the Change of Control in connection with payment procedures established in connection with such Change of Control.

(c) Procedure for Conversion. Procedure for Conversion. In connection with any conversion of this Note into capital stock, the Holder shall surrender this Note to the Company and deliver to the Company any documentation reasonably required by the Company (including, in the case of a Qualified Financing, all financing documents executed by the Investors in connection with such Qualified Financing). The Company shall not be required to issue or deliver the capital stock into which this Note may convert until the Holder has surrendered this Note to the Company and delivered to the Company any such documentation. Upon the conversion of this Note into capital stock pursuant to the terms thereof, in lieu of any fractional shares to which the Holder would otherwise be entitled, the Company shall pay the Holder cash equal to such fraction multiplied by the price at which this Note converts.

(d) Interest Accrual. If a Change of Control or Qualified Financing is consummated, all interest on this Note shall be deemed to have stopped accruing as of a date selected by the Company that is up to 10 days prior to the signing of the definitive agreement for the Change of Control or Qualified Financing.

## Senior Indebtedness

The indebtedness evidenced by this Note is subordinated in right of payment to the prior payment in full of any Senior Indebtedness in existence on the date of this Note or hereafter incurred. "Senior Indebtedness" shall mean, unless expressly subordinated to or made on a parity with the amounts due under this Note, all amounts due in connection with (i) indebtedness of the Company to banks or other lending institutions regularly engaged in the business of lending money (excluding venture capital, investment banking or similar institutions and their affiliates, which sometimes engage in lending activities but which are primarily engaged in investments in equity securities), and (ii) any such indebtedness or any debentures, notes or other evidence of indebtedness issued in exchange for such Senior Indebtedness, or any indebtedness arising from the satisfaction of such Senior Indebtedness by a guarantor.

# Securities Issued by the SPV

Instead of issuing its securities directly to investors, the Company has decided to issue its securities to the SPV, which will then issue interests in the SPV to investors. The SPV is formed concurrently with the filing of the Form C. Given this, the SPV does not have any financials to report. The SPV is managed by Wefunder Admin, LLC and is a co-issuer with the Company of the securities being offered in this offering. The Company's use of the SPV is intended to allow investors in the SPV to achieve the same economic exposure, voting power, and ability to assert State and Federal law rights, and receive the same disclosures, as if they had invested directly in the Company. While the Issuer may be required to pay an annual administrative fee for the maintenance of the SPV, investors should note the Company's use of the SPV will not result in any additional fees being charged to investors.

The SPV has been organized and will be operated for the sole purpose of directly acquiring, holding and disposing of the Company's securities, will not borrow money and will use all of the proceeds from the sale of its securities solely to purchase a single class of securities of the Company. As a result, an investor investing in the Company through the SPV will have the same relationship to the Company's securities, in terms of number, denomination, type and rights, as if the investor invested directly in the Company.

# Voting Rights

If the securities offered by the Company and those offered by the SPV have voting rights, those voting rights may be exercised by the investor or his or her proxy. The applicable proxy is the Lead Investor, if the Proxy (described below) is in effect.

# Proxy to the Lead Investor

The SPV securities have voting rights. With respect to those voting rights, the investor and his, her, or its transferees or assignees (collectively, the "Investor"), through a power of attorney granted by Investor in the Investor Agreement, has appointed or will appoint the Lead Investor as the Investor's true and lawful proxy and attorney (the "Proxy") with the power to act alone and with full power of substitution, on behalf of the Investor to: (i) vote all securities related to the Company purchased in an offering hosted by Wefunder Portal, and (ii) execute, in connection with such voting power, any instrument or document that the Lead Investor determines is necessary and appropriate in the exercise of his or her authority. Such

Proxy will be irrevocable by the Investor unless and until a successor lead investor (“Replacement Lead Investor”) takes the place of the Lead Investor. Upon notice that a Replacement Lead Investor has taken the place of the Lead Investor, the Investor will have five (5) calendar days to revoke the Proxy. If the Proxy is not revoked within the 5-day time period, it shall remain in effect.

## Restriction on Transferability

The SPV securities are subject to restrictions on transfer, as set forth in the Subscription Agreement and the Limited Liability Company Agreement of Wefunder SPV, LLC, and may not be transferred without the prior approval of the Company, on behalf of the SPV.

14. Do the securities offered have voting rights?
☐ Yes
☑ No

15. Are there any limitations on any voting or other rights identified above?

See the above description of the Proxy to the Lead Investor.

16. How may the terms of the securities being offered be modified?

Any term of this Note may be amended or waived with the written consent of the Company and the Holder. In addition, any term of this Note may be amended or waived with the written consent of the Company and the Majority Holders. Upon the effectuation of such waiver or amendment with the consent of the Majority Holders in conformance with this paragraph, such amendment or waiver shall be effective as to, and binding against the holders of, all of the Notes, and the Company shall promptly give written notice thereof to the Holder if the Holder has not previously consented to such amendment or waiver in writing; provided that the failure to give such notice shall not affect the validity of such amendment or waiver.

Pursuant to authorization in the Investor Agreement between each Investor and Wefunder Portal, Wefunder Portal is authorized to take the following actions with respect to the investment contract between the Company and an investor:

A. Wefunder Portal may amend the terms of an investment contract, provided that the amended terms are more favorable to the investor than the original terms; and
B. Wefunder Portal may reduce the amount of an investor’s investment if the reason for the reduction is that the

Company's offering is oversubscribed.

# RESTRICTIONS ON TRANSFER OF THE SECURITIES BEING OFFERED:

The securities being offered 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:

1. to the issuer;
2. to an accredited investor;
3. as part of an offering registered with the U.S. Securities and Exchange Commission; or
4. 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.

NOTE: The term "accredited investor" means any person who comes within any of the categories set forth in Rule 501(a) of Regulation D, or who the seller reasonably believes comes within any of such categories, at the time of the sale of the securities to that person.

The term "member of the family of the purchaser or the equivalent" includes a 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 purchaser, and includes adoptive relationships. The term "spousal equivalent" means a cohabitant occupying a relationship generally equivalent to that of a spouse.

# 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 | 21,000,000 | 8,892,830 | Yes ☑ |
| Series Seed Preferred | 2,000,000 | 1,950,898 | Yes ☑ |
| Series A Preferred | 4,100,000 | 3,898,468 | Yes ☑ |

# Securities Reserved for Issuance upon Exercise or Conversion

| Class of Security Warrants: | Total Pool: | Issued: |
| --- | --- | --- |
| Options: | 4,491,341 | 3,569,321 |

## Describe any other rights:

The Company has three classes of stock outstanding: (i) Common Stock, (ii) Series Seed Preferred Stock, and (iii) Series A Preferred Stock.

The Common Stock has standard, limited, special rights. The Common Stock has the right to designate 2 of the 6 board members.

The Series Seed Preferred Stock and the Series A Preferred Stock generally have similar rights. Each class has the right to designate 1 of the 6 board members. The Series Seed and Series A are both standard non-participating preferred, with one-times liquidation preferences. Each class of preferred stock also has standard class voting rights. The preferred stock has broad-based weighted average antidilution protection. Neither of the classes of preferred has redemption rights. Both classes of preferred stock have standard information rights, participation rights, and registration rights.

18. How may the rights of the securities being offered be materially limited, diluted or qualified by the rights of any other class of security identified above?

The holders of a majority-in-interest of voting rights in the Company could limit the Investor's rights in a material way. For example, those interest holders could vote to change the terms of the agreements governing the Company's operations or cause the Company to engage in additional offerings (including potentially a public offering). These changes could result in further limitations on the voting rights the Investor will have as an owner of equity in the Company, for example by diluting those rights or limiting them to certain types of events or consents. To the extent applicable, 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 equity, an Investor's interest will typically also be diluted. Based on the risk that an Investor's rights could be limited, diluted or otherwise qualified, the Investor could lose all or part of his or her investment in the securities in this offering, and may never see positive returns. Additional risks related to the rights of other security holders are discussed below, in Question 20.

19. Are there any differences not reflected above between the securities being offered and each other class of security of the issuer?

No.

20. How could the exercise of rights held by the principal shareholders identified in Question 6 above affect the purchasers of the securities being offered?

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.

21. How are the securities being offered being valued? Include examples of methods for how such securities may be valued by the issuer in the future, including during subsequent corporate actions.

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 Convertible Note is determined by the investor, and we do not guarantee that the Convertible Note will be converted into any particular number of shares. As discussed in Question 13, when we engage in an offering of equity involving Stock, Investors may receive a number of shares of Preferred Stock calculated as either the conversion price equal to the lesser

of (i) 80% of the price paid per share for Equity Securities by the Investors in the Qualified Financing or (ii) the price equal to the quotient of the valuation cap of $45,000,000.00 (the "Valuation Cap") divided by the aggregate number of outstanding shares of the Company's stock as of immediately prior to the initial closing of the Qualified Financing (assuming full conversion or exercise of all convertible and exercisable securities then outstanding, but excluding the shares of equity securities of the Company issuable upon the conversion of the Notes or any other debt). 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 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 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 units 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
- 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
- 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

22. What are the risks to purchasers of the securities relating to minority ownership in the issuer?

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.

23. What are the risks to purchasers associated with corporate actions, including additional issuances of securities, issuer repurchases of securities, a sale of the issuer or of assets of the issuer or transactions with related parties?

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 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.

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

## Convertible Note

Issue date 06/09/25
Amount $565,000.00
Interest rate 5.0% per annum
Discount rate 20.0%
Valuation cap $60,000,000.00
Maturity date 12/31/25

## Convertible Note

Issue date 06/09/25
Amount $700,000.00
Outstanding principal plus interest $700,000.00 as of 06/10/25
Interest rate 5.0% per annum
Discount rate 20.0%
Valuation cap $60,000,000.00
Maturity date 12/31/25

## Convertible Note

Issue date 06/09/25
Amount $600,000.00
Outstanding principal plus interest $600,000.00 as of 06/10/25
Interest rate 5.0% per annum
Discount rate 20.0%
Valuation cap $60,000,000.00
Maturity date 12/31/25

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 |
| --- | --- | --- | --- | --- |
| 3/2023 | Regulation D, Rule 506(b) | Convertible Note | $1,300,000 | General operations |
| 5/2024 | Regulation D, Rule 506(b) | Preferred stock | $5,110,910 | General operations |
| 6/2025 | Regulation | Convertible | $600,000 | General |

| 6/2025 | Regulation D, Rule 506(b) | Convertible Note | $500,000 | General operations |
| --- | --- | --- | --- | --- |
| 6/2025 | Regulation D, Rule 506(b) | Convertible Note | $565,000 | General operations |
| 6/2025 | Regulation D, Rule 506(b) | Convertible Note | $700,000 | 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 | Scott Corbett |
| --- | --- |
| Amount Invested | $105,420.00 |
| Transaction type | Priced round |
| Issue date | 06/24/21 |
| Relationship | Co-founder & Chief Technology Officer |
| Name | Stephen Steinberg, MD |
| Amount Invested | $105,398.00 |
| Transaction type | Priced round |
| Issue date | 06/24/21 |
| Relationship | Co-founder & Chief Medical Officer |

| Name | Scott Corbett |
| --- | --- |
| Amount Invested | $700,000.00 |
| Transaction type | Convertible note |

| Issue date | 06/09/25 |
| --- | --- |
| Outstanding principal plus interest | $700,000.00 as of |
| Interest rate | 5.0% per annum |
| Discount rate | 20.0% |
| Maturity date | 12/31/25 |
| Valuation cap | $60,000,000.00 |
| Relationship | Co-founder, Chief Technology Officer |

| Name | Stephen Steinberg |
| --- | --- |
| Amount Invested | $600,000.00 |
| Transaction type | Convertible note |
| Issue date | 06/09/25 |
| Outstanding principal plus interest | $600,000.00 as of |
| Interest rate | 5.0% per annum |
| Discount rate | 20.0% |
| Maturity date | 12/31/25 |
| Valuation cap | $60,000,000.00 |
| Relationship | Co-founder, Chief Medical Officer |

In 2024, certain executive officers and employees of the Company elected to defer a portion of their salaries. Deferred compensation at December 31, 2024 amounted to $128,332 and is reported within accrued expenses in the accompanying balance sheet.

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

EndoSound Inc. ("the Company") is headquartered in Portland, Oregon and provides access to endoscopic ultrasound technology for the diagnosis and treatment of various disorders of the digestive tract. The Company was founded in 2016 as a Florida Limited Liability Company ("LLC"). In June 2020, the Company converted from an LLC to EndoSound, Inc., a Delaware corporation.

The Company has been developing its technology since inception and there have been no product sales through 2023. The Company received its 510(k) clearance from the Food and Drug Association ("FDA") in December 2023 at which point, product sales commenced.

## Milestones

ENDOSOUND, INC. was incorporated in the State of Delaware in June 2020.

Since then, we have:

- Awarded Breakthrough Device designation and FDA-cleared
- Performed 600+ clinical procedures with a 95%+ clinical acceptance rate
- Major GI Company paid $5M for licensing agreement
- Raised $12M+ to date from GeoMedTech, AGA GI Fund, strategic partners, and founders
- Significant IP with 10 awarded patents and 10 patent pending
- Hybrid go-to-market model: $40K system sale + $650 recurring revenue
- GI Innovation of the Year 2022 - American Society for Gastrointestinal Endoscopy (ASGE)

## Historical Results of Operations

- Revenues &amp; Gross Margin. For the period ended December 31, 2024, the Company had revenues of $1,541,507 compared to the year ended December 31, 2023, when the Company had revenues of $1,551,500. Our gross margin was 80.44% in fiscal year 2024, and 100.0% in 2023.
- Assets. As of December 31, 2024, the Company had total assets of $905,616, including $422,660 in cash. As of December 31, 2023, the Company had $2,080,299 in total assets, including $1,356,366 in cash.
- Net Loss. The Company has had net losses of $2,627,439 and net losses of $3,400,147 for the fiscal years ended December 31, 2024 and December 31, 2023, respectively.
- Liabilities. The Company's liabilities totaled $1,805,222 for the fiscal year ended December 31, 2024 and $486,570 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 $6,866,728 in equity and $3,165,000 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 3 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

ENDOSOUND, INC. cash in hand is $184,000, as of June 2025. Over the last three months, revenues have averaged $58,672/month, cost of goods sold has averaged $18,234/month, and operational expenses have averaged $159,463/month, for an average burn rate of $119,025 per month. Our intent is to be profitable in 18 months.

There have not been any material changes to EndoSounds finances or operations since December 31, 2024. As was true at the end of fiscal year 2024, the company continues to raise money into its convertible note while pursuing revenue growth and launch of its Gen2 product.

EndoSound expects its revenues in the next 6 months to be approximately $500K. As EndoSound develops its Gen2 product, expenses will be more heavily weighted to R&amp;D expenses but then diversify to greater Sales and Marketing expenditures. The company's expenses over the next 6 months amount to ~$1.12M.

EndoSound is not yet profitable. If the company was fully funded and could scale its projects and operations, it could be profitable in Q4 2026. This would require an approximate $3.5M in funding. In order for that to happen, it would require $5.1M in revenue in that same period. This is what is in the current forecasted revenue models.

EndoSound is actively working on attaining a lead for its Series B round. In the meantime, the company continues to

Series B round. In the meantime, the company continues to be successful in raising money into its convertible note, bridge round through existing investors and high net worth individuals in order to sustain its operations.

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, Scott Clayton Aldrich Jr, certify that:

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

Scott Clayton Aldrich Jr
CEO

STAKEHOLDER ELIGIBILITY

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

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

i. in connection with the purchase or sale of any security? ☐ Yes ☑ No
ii. involving the making of any false filing with the Commission? ☐ Yes ☑ No
iii. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities? ☐ Yes ☑ No

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

i. in connection with the purchase or sale of any security? ☐ Yes ☑ No
ii. involving the making of any false filing with the Commission? ☐ Yes ☑ No
iii. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities? ☐ Yes ☑ No

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

i. at the time of the filing of this offering statement bars the person from:

A. association with an entity regulated by such commission, authority, agency or officer? ☐ Yes ☑ No
B. engaging in the business of securities, insurance or banking? ☐ Yes ☑ No
C. engaging in savings association or credit union activities? ☐ Yes ☑ No

ii. constitutes a final order based on a violation of any law or regulation that prohibits fraudulent, manipulative or deceptive conduct and for which the order was entered within the 10-year period ending on the date of the filing of this offering statement? ☐ Yes ☑ No

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

i. suspends or revokes such person's registration as a broker, dealer, municipal securities dealer, investment adviser or funding portal? ☐ Yes ☑ No
ii. places limitations on the activities, functions or operations of such person? ☐ Yes ☑ No
iii. bars such person from being associated with any entity or from participating in the offering of any penny stock? ☐ Yes ☑ No

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

i. any scienter-based anti-fraud provision of the federal securities laws, including without limitation Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act, Section 15(c)(1) of the Exchange Act and Section 206(1) of the Investment Advisers Act of 1940 or any other rule or regulation thereunder? ☐ Yes ☑ No
ii. Section 5 of the Securities Act? ☐ Yes ☑ No

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

☐ Yes ☑ No

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

☐ Yes ☑ No

(8) Is any such person subject to a United States Postal Service false representation order entered within five years before the filing of the information required by Section 4A(b) of the Securities Act, or is any such person, at the time of filing of this offering statement, subject to a temporary restraining order or preliminary injunction with respect

a temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property through the mail by means of false representations?

☐ Yes ☑ No

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

INSTRUCTIONS TO QUESTION 30: Final order means a written directive or declaratory statement issued by a federal or state agency, described in Rule 503(a)(3) of Regulation Crowdfunding, under applicable statutory authority that provides for notice and an opportunity for hearing, which constitutes a final disposition or action by that federal or state agency.

No matters are required to be disclosed with respect to events relating to any affiliated issuer that occurred before the affiliation arose if the affiliated entity is not (i) in control of the issuer or (ii) under common control with the issuer by a third party that was in control of the affiliated entity at the time of such events.

# 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 Lead Investor. As described above, each Investor that has entered into the Investor Agreement will grant a power of attorney to make voting decisions on behalf of that Investor to the Lead Investor (the "Proxy"). The Proxy is irrevocable unless and until a Successor Lead Investor takes the place of the Lead Investor, in which case, the Investor has a five (5) calendar day period to revoke the Proxy. Pursuant to the Proxy, the Lead Investor or his or her successor will make voting decisions and take any other actions in connection with the voting on Investors' behalf.

The Lead Investor is an experienced investor that is chosen to act in the role of Lead Investor on behalf of Investors that have a Proxy in effect. The Lead Investor will be chosen by the Company and approved by Wefunder Inc. and the identity of the initial Lead Investor will be disclosed to Investors before Investors make a final investment decision to purchase the securities related to the Company.

The Lead Investor can quit at any time or can be removed by Wefunder Inc. for cause or pursuant to a vote of investors as detailed in the Lead Investor Agreement. In the event the Lead Investor quits or is removed, the Company will choose a Successor Lead Investor who must be approved by Wefunder Inc. The identity of the Successor Lead Investor will be disclosed to Investors, and those that have a Proxy in effect can choose to either leave such Proxy in place or revoke such Proxy during a 5-day period beginning with notice of the replacement of the Lead Investor.

The Lead Investor will not receive any compensation for his or her services to the SPV. The Lead Investor may receive compensation if, in the future, Wefunder Advisors LLC forms a fund ("Fund") for accredited investors 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 Fund (and as a supervised person of Wefunder Advisors) and may be compensated through that role.

Although the Lead Investor may act in multiple roles with respect to the Company's offerings and may potentially be compensated for some of its services, the Lead Investor's goal is to maximize the value of the Company and therefore maximize the value of securities issued by or related to the Company. As a result, the Lead Investor's interests should always be aligned with those of Investors. It is, however, possible that in some limited circumstances the Lead Investor's interests could diverge from the interests of Investors, as discussed in section 8 above.

Investors that wish to purchase securities related to the Company through Wefunder Portal must agree to give the Proxy described above to the Lead Investor, provided that if the Lead Investor is replaced, the Investor will have a 5-day period during which he or she may revoke the Proxy. If the Proxy is not revoked during this 5-day period, it will remain in effect.

Tax Filings. In order to complete necessary tax filings, the SPV is required to include information about each investor who holds an interest in the SPV, including each investor's taxpayer identification number ("TIN") (e.g., social security number or employer identification number). To the extent they have not already done so, each investor will be required to provide their TIN within the earlier of (i) two (2) years of making their investment or (ii) twenty (20) days prior to the date of any distribution from the SPV. If an investor does not provide their TIN within this time, the SPV reserves the right to withhold from any proceeds

otherwise payable to the Investor an amount necessary for the SPV to satisfy its tax withholding obligations as well as the SPV's reasonable estimation of any penalties that may be charged by the IRS or other relevant authority as a result of the investor's failure to provide their TIN. If applicable, the Company may also be required to pay Wefunder certain fees for the preparation of tax filings. Such fees and the Company's obligation to deliver required tax documents are further specified in the related Tax Services Agreement ("TSA").

Investors should carefully review the terms of the SPV Subscription Agreement for additional information about tax filings.

Potential Dissolution of the SPV. The Company has agreed that it will pay an administrative fee and / or certain tax fees to Wefunder, in addition to delivering required tax information in the manner prescribed by the TSA, where applicable. Failure to pay such fees or provide Wefunder with required tax information could result in the dissolution of the SPV (an "SPV Dissolution Event"). Subsequent to an SPV Dissolution Event, the securities held by the SPV would be distributed directly and proportionally to the individual investors. This could create administrative complexities, as investors would need to manage the securities themselves rather than having them held and administered by the SPV. Additionally, the unplanned distribution of securities may not align with investors' intended investment strategy or asset allocation.

Upon an SPV Dissolution Event, the Investor hereby consents to and agrees to accept direct assignment of the SPV's rights and obligations under any investment agreements between the SPV and the Company that is located in the Form C or C/A offering materials. The Investor acknowledges they will be bound by all terms and conditions of such agreements as if they were an original party thereto.

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.

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:

https://endosound.com/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 B: Investor Contracts**
- SPV Subscription Agreement
- Cooley Go Convertible Note
- **Appendix C: Financial Statements**
- Financials 1
- **Appendix D: Director &amp; Officer Work History**
- Brian Tinkham
- Josh Cohn
- Morris Sandler
- Nicholas Puro
- Paul Henwood
- Scott Clayton Aldrich Jr
- Scott S. Corbett

Scott S Corbett
Stephen Steinberg
William Rhodes
Appendix E: Supporting Documents
ttw_communications_169032_132522.pdf

# Signatures

Intentional misstatements or omissions of facts constitute federal criminal violations. See 18 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

SPV Subscription Agreement

Cooley Go Convertible Note

Appendix C: Financial Statements

Financials 1

Appendix D: Director &amp; Officer Work History

Brian Tinkham

Josh Cohn

Morris Sandler

Nicholas Puro

Paul Henwood

Scott Clayton Aldrich Jr

Scott S Corbett

Stephen Steinberg

William Rhodes

Appendix E: Supporting Documents

ttw_communications_169032_132522.pdf

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 Form C and has duly caused this Form to be signed on its behalf by the duly authorized undersigned.

ENDOSOUND, INC.

By

Scott Aldrich Jr

Chief Executive Officer

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 Form C and Transfer Agent Agreement has been signed by the following persons in the capacities and on the dates indicated.

Scott Aldrich Jr

Chief Executive Officer

6/16/2025

William E. Rhodes, III

Director

6/16/2025

Scott S Corbett III

CTO

6/16/2025

Stephen Steinberg
Chairman BOD
6/16/2025

Morris Sandler
Director
6/16/2025

Nicholas Puro
Director
6/17/2025

The Form C 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 Form C 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 Form C 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`

# Breaking the Sound Barrier: Greater Access to Critical Technology for GI Care

Endosound

INVEST IN ENDOSOUND

Transforming Standard Endoscopes into Ultrasound Powerhouses - Advancing Early GI Disease Detection

endosound.com Portland, OR  in

## Highlights

Awarded Breakthrough Device designation and FDA-cleared

2. Performed 600+ clinical procedures with a 95%+ clinical acceptance rate
3. Major GI Company paid $5M for licensing agreement
4. Raised $12M+ to date from GeoMedTech, AGA GI Fund, strategic partners, and founders
5. Significant IP with 10 awarded patents and 10 patent pending
6. Hybrid go-to-market model: $40K system sale + $650 recurring revenue
7. GI Innovation of the Year 2022 - American Society for Gastrointestinal Endoscopy (ASGE)
8. Expanding into a $20.1B global market across gastrointestinal diagnostics and echo-endoscopy

## Featured Investors

|  | Chris Oubre |  | Follow | Invested $10,000 |
| --- | --- | --- | --- | --- |

Chris brings over 28 years of leadership experience in healthcare management, operations, and information services. His career has been defined by a commitment to building high-performing teams that drive scalable, efficient healthcare platforms. As Co-Founder,

President, and COO of MetaPhy Health, Chris has helped shape the company's strategic vision and operational execution. Prior to founding MetaPhy, he served as the first Chief Information Officer at Covenant Surgical Partners, later transitioning into the role of Chief Operating Officer. In addition to his executive roles, Chris is an active investor and operating partner in several early-stage healthcare ventures. His investment in EndoSound stems from a deep belief in the transformative potential of its technology in the GI space.

"I've been fortunate to work with and invest in a number of early-stage healthcare companies, and I've seen what both success and failure look like. I invested in EndoSound because of the measurable impact it's already had in GI. The team is well-positioned to advance this technology, and as someone who understands the operational needs of surgery centers, I know how critical it is to expand service lines and improve efficiency. Moving EUS into the ASC setting achieves both."

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

Morris Sandler in

Follow

Invested $600,000

Mr. Sandler is a successful entrepreneur, strategist, Board Member, capital raiser and executive leader. He has four decades of experience in financial services and venture capital. Mr. Sandler is a builder of more than 50 early-stage companies and helped finance over $275 million in equity.

"An investment into EndoSound was an easy decision for me. My initial investment was modest and was to support a dear friend I have known for over 40 years, the Co-Founder of EndoSound, Dr. Steve Steinberg. I've had the pleasure of seeing Steve's dream of democratizing EUS go from the back of a napkin, to FDA cleared and commercially available. For decades, I've seen first-hand what successful teams and companies look like. EndoSound has continued to demonstrate success, hit major milestones and I continue to invest at every opportunity because of the credibility they have earned along the way and the incredible impact they are making on the GI community."

Bora Gumustop, MD

Follow

Invested $100,000

1

Dr. Bora Gumustop is a practicing Interventional Gastroenterologist. He is the co-inventor and co-founder of the Beacon Endoscopic Ultrasound needle that was acquired by Medtronic, then Covidien, in 2013.

"As the co-inventor of the Beacon Endoscopic needle, I know the hard work that is required for an early-stage company to get a product from bench to bedside. The EndoSound mission resonated with me immediately and that is why I was so excited about investing. I'm excited to see how they continue to disrupt the market and gain market share."

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

Matthew McDonald, DO in

Follow

Invested $25,000

1

Dr. McDonald is a Bariatric Surgeon who practices in Albany, New York.

"For smaller hospitals and ASC's, traditional EUS equipment is expensive and the cost to acquire is prohibitive. The EVS is a fraction of the cost of traditional systems and is creating greater access to this critical procedure. The best part about this is how both patients and providers will benefit from this while the overall cost of healthcare is reduced"

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

Chris Oubre
Syndicate Lead

Follow

Invested $20,000

1

"I'm thrilled to share that I've joined EndoSound as an Investor and Senior Executive Advisor! EndoSound is pioneering innovation in the endoscopic ultrasound (EUS) space, bringing cutting-edge

technology to transform GI procedures. After spending the past several months working closely with the senior leadership team, I'm confident that the clinical, operational, and financial impact of their solution will redefine how we think about EUS. Excited to support EndoSound's mission to improve outcomes and advance care in Gastroenterology. The journey ahead is promising!"

# Our Team

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

## Scott Aldrich Jr Chief Executive Officer

Scott is a seasoned medtech leader with 20+ years in GI devices. He led strategy and commercialization at MotusGI, Mauna Kea, and Pentax Medical, scaling innovative products from concept to market.

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

## Stephen Steinberg Founder &amp; Chief Medical Officer

Dr. Steinberg is a GI pioneer with 40+ years of experience, thousands of EUS procedures, and 30 years in academic medicine. A KOL and the co-inventor, he's helped shape the future of gastrointestinal diagnostics.

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

## Scott Corbett Founder &amp; Chief Technology Officer

A veteran biomedical engineer with 30+ years in ultrasound, 19 patents, and 3 medtech startups. Co-inventor and former engineering lead at GE, Tyco Healthcare, and Sonivate.

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

## Josh Cohn Chief Commercial Officer

18-years medtech sales leader and former National Sales Director at PENTAX Medical. A proven EUS strategist with deep industry ties, he's led disruptive launches and now drives EndoSound's commercial growth.

# Problem: Access to this Critical Technology

## What is EUS and why is it so impactful?

Endoscopic Ultrasound (EUS) is a medical procedure that combines standard white light camera view (endoscopy) and ultrasound imaging. EUS is the gold standard for diagnosing complex gastrointestinal (GI) conditions. We provide gastroenterologists with an advanced ultrasound imaging system that enables detection of potentially life-threatening disease such as pancreatic disease, liver disease, and submucosal tumors. But despite its clinical value, most hospitals and surgery centers don't have it.

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

The problem is access. EUS should be available to everyone on every upper Endoscopy (ECD) procedure. Until now, that

on every upper Endoscopy (EUS) procedure. Until now, that was not possible.

Access to this critical technology is the problem

|  | $450-500k / system severely limiting access |
| --- | --- |
|  | Legacy devices have been linked to multiple FDA recalls |
|  | One system in a room that can't easily be moved |

Insufficient access can lead to delayed diagnosis

Legacy EUS platforms require significant capital investment and ongoing maintenance which drives high costs. Providers can miss out on offering high-value care because the legacy EUS technology is too expensive which limits access. Patients can often face delayed diagnoses.

In addition, cleaning gastrointestinal (GI) endoscopes is a challenge and legacy EUS scopes are notoriously difficult to clean. The FDA has issued several recalls related to EUS scopes due to potential contamination and infection risks**.

# Solution: Making Advanced GI Imaging Scalable and Affordable

EndoSound® has developed a breakthrough way to deliver high-quality gastrointestinal diagnostics-without high-end

costs. Instead of requiring clinics to purchase a $450,000 legacy system, the FDA-cleared EndoSound Vision System (TM) (EVS (TM)) retrofits existing endoscopes with advanced ultrasound imaging at a fraction of the price.

![img-8.jpeg](img-8.jpeg)
Cleared 10 Issued Patents

![img-9.jpeg](img-9.jpeg)

## Affordable

- Increased access -&gt; grow into - 3,250 ASC sites, 4,000 hospitals
- Global expansion to the 4.7B people without access

## Increased Safety

Single use disposable design

## Superior flexibility

Can outfit EVERY room in a hospital or ASC and easily be transported

The EndoSound Vision System platform combines video-guided endoscopy and ultrasound into a single, real-time diagnostic view-supporting more accurate, minimally invasive exams that can be performed in outpatient and ambulatory settings. Its portable, compact design allows use in hospitals, Ambulatory Surgery Centers (ASC), and even rural care centers, making it one of the most flexible imaging solutions in the GI field.

By substantially removing costs and creating far greater access, EndoSound Vision System for the first time unlocks the potential of Echo-EGD.

The clinical and economic impact is substantial: The EndoSound Vision System is uniquely qualified to make Echo-EGD standard of care. Echo-EGD defined as diagnostic

Echo-EGD standard of care. Echo-EGD, defined as diagnostic upper GI endoscopy enhanced with ultrasound, has been shown to identify pancreatic disease in 40% of dyspepsia patients and changes management in 25% of cases with a higher diagnostic yield than standard upper GI endoscopy alone.

![img-10.jpeg](img-10.jpeg)

Using the EndoSound Vision System as a first line diagnostic has the potential to shorten the diagnostic timeline from ~10 weeks to just 2, while saving an estimated $4,600 in insurance costs and over $1,100 in patient out-of-pocket expenses per episode of care.

## Early Traction

EndoSound launched a controlled market release with select

hospitals and ambulatory surgery centers. To date, the EndoSound Vision System has been used in over 600 procedures. The company has begun onboarding additional clinical sites and is building a growing U.S. pipeline, with high international demand in Latin America (LATAM), Europe, the Middle East, and Africa (EMEA).

![img-11.jpeg](img-11.jpeg)

![img-12.jpeg](img-12.jpeg)

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

# Revenue Model

EndoSound generates revenue through a hybrid model: a one-time capital sale of $40,000 of the EndoSound Vision System, plus ongoing per-procedure revenue of $650 from single-use disposables. In addition to the standard EUS billing codes that pay facilities and physicians, the EndoSound Vision System disposables have been granted an add-on payment, CMS Code C1606, that covers the EndoSound Vision System disposables to attach our ultrasound device to GI scopes. Add-on C codes are granted for new technology that have been shown to meet significant unmet needs. This economic picture makes adoption of the EndoSound Vision System highly favorable for clinics and hospitals.

With high margins on disposables, each clinical site becomes a compounding source of revenue, making the business both scalable and capital-efficient.

$40,000 Capital Cost

$650 / Procedure

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

# Total Market Potential

EndoSound sits at the center of three rapidly expanding healthcare segments: GI diagnostics, Echo-EGD, and global access to affordable imaging. In the U.S. and LATAM alone, millions of upper endoscopies are performed annually, yet most facilities lack access to advanced ultrasound due to cost and complexity. With a scalable, low-cost device, EndoSound can bridge that gap-offering a complete diagnostic exam for a fraction of the cost.

Beyond GI, the EndoSound Vision System platform has the potential to expand across the body-reaching liver, lung, pancreas, and other ultrasound-driven indications. Combined, these markets represent a $20.1B total opportunity, with a $7.6B serviceable market and a $1.9B obtainable segment at current pricing and reach. With global growth, ASC adoption, and future clinical expansion, EndoSound is positioned to redefine diagnostic imaging access on a global scale.

2024 TARGETED

- US/LATAM
- Hospital/ASCs

2025 EXPANDED

- US/LATAM
- EU
- Initial Echo-EGD

2026 FULL

- US &amp; LATAM
- EU
- ROW
- Echo-EGD Expansion
- ERCP Other Indication
- Expansion

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

# Use of Funds

This Wefunder raise is part of a larger $8M round aimed at scaling EndoSound’s commercial growth. Funds will help expand sales and distribution in the U.S. and LATAM, increase production of our FDA-cleared system and single-use components, and support ongoing clinical work and regulatory approvals for future indications.

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

# Be Part of Medtech That's Already Changing Patient Lives

EndoSound is FDA-cleared, revenue-generating, and already used in 600+ real-world procedures. With early traction, 95% clinical acceptance, and a $20.1B market opportunity, this is your chance to join a company Breaking the Sound Barrier in GI Care.

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

* For instance, some forms of liver disease are reaching epidemic levels in the U.S., yet often go undetected because there are few symptoms until it's too late. Imaging and blood tests are key to diagnosis, but they are frequently overlooked, according to NIDDK.

** Examples include FDA recalls of Pentax ultrasound gastroscopes (e.g., EG-3870UTK), Olympus EUS endoscopes due to contamination risks, and Fujifilm's EG-530UT models, all of which were flagged for design-related reprocessing or infection control issues.

# Downloads

- [EVS White Paper]
- [EchoEGD]
- [EndoSound Procedural Insight]

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

EndoSound I (THE "SPV"), a series of Wefunder SPV, LLC, a Delaware limited liability company (the "LLC")

# Subscription Agreement

## [INVESTMENT AMOUNT]

## [INVESTMENT DATE]

EndoSound I (the "SPV"), a series of Wefunder SPV, LLC (the "LLC"), is a special purpose vehicle that will invest all of its assets in securities issued by ENDOSOUND, INC. (the "Company"). By making an investment in the SPV through the Wefunder website, I understand and agree to the representations set forth below.

I have reviewed the following information and documents in connection with this Subscription Agreement:

1. The information on the Wefunder website about the Company. I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that none of Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC, nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;

2. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;

3. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "LLC Agreement"), which sets forth certain specific terms of the SPV;

4. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;

5. The LLC Agreement, which sets forth other terms applicable to each SPV;

6. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;

7. The Wefunder Investor Agreement; and

8. The Wefunder Terms of Service.

By making an investment in the SPV through the Wefunder website, I agree to be bound by this Subscription Agreement and the terms of the other agreements listed above with respect to my investment in the SPV.

# Subscription Agreement

## SCOPE OF AGREEMENT AND INVESTOR ELIGIBILITY REPRESENTATIONS

A. This agreement ("Agreement") applies to each investment in a series ("SPV") of Wefunder SPV, LLC (the "LLC"). Each series is a separate pool of assets from every other series. Each SPV will invest all of its assets in securities issued by a single company ("Company") as set forth in the applicable series appendix ("Series Appendix") to the Wefunder SPV, LLC limited liability company agreement ("LLC Agreement"). The terms of the Company securities to be purchased by the SPV are summarized in an appendix ("Terms Appendix") attached to this Agreement.

B. Each SPV is formed by and operated by Wefunder Admin, LLC on behalf of the Company in whose securities that SPV invests.

C. Important information about the Company, about the related SPV, and more generally about investments through the Wefunder website, is available through the Wefunder website. The Investor should review that information, and all relevant Company Information (as defined below), carefully before making an investment in any SPV.

D. Each SPV will offer membership interests ("Interests") in that SPV pursuant to Regulation Crowdfunding under the U.S. Securities Act of 1933, as amended (the "Securities Act").

E. You hereby agree that each time you make an investment in any SPV, you will be deemed to have entered into this Agreement, and will be deemed to have made each representation and covenant contained in this Agreement.

F. Except as the context otherwise requires, any reference in this Subscription Agreement to:

1. a "SPV" shall mean "The LLC acting solely on behalf of and for the account of the SPV";

2. "Investor" and "you" shall mean a person (whether individually, jointly with another person, or through his or her individual retirement account) who has agreed to invest, or has invested, in any SPV; and

3. "Company Information" means:

a. The information on the Wefunder website about the Company. I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that neither Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC (together, the "Wefunder entities," nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;

b. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;

c. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "LLC Agreement"), which sets forth certain specific terms of the SPV;

d. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;

e. The LLC Agreement, which sets forth other terms applicable to each SPV;

f. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;

g. The Wefunder Investor Agreement; and

h. The Wefunder Terms of Service.

INVESTOR'S REPRESENTATIONS AND COVENANTS

## 1. Investor's Review of Information and Investment Decision

1.1. The Investor has carefully read and understands the Company Information. The Investor acknowledges that it has made an independent decision to invest indirectly in the Company through the SPV and that, in making its decision to invest in a SPV, the Investor has relied solely upon the Company Information, any other relevant information on the Wefunder website, and independent investigations made by the Investor. The Investor understands that no representations or warranties have been made to the Investor by the LLC, the relevant SPV, any administrator appointed from time to time with respect to the SPV (the "Administrator"), any lead investor appointed from time to time with respect to the SPV (the "Lead Investor"), or any partner, member, officer, employee, agent, affiliate or subsidiary of any of them regarding the Company.

1.2. The Investor has been provided an opportunity to request additional information concerning the Company and the offering through the Ask A Question feature on wefunder.com.

1.3. The Investor understands and agrees that neither Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC, any of their affiliates, nor any director, manager, officer, shareholder, member, employee or agent of Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or any of their affiliates (each, a "Wefunder Party," and collectively, "Wefunder Parties") shall be liable in connection with any information or omission of information contained in materials prepared or supplied by the Company. Such materials may include, but are not limited to, information provided by the Company in the Form C related to the offering, information available through the Wefunder website, and materials distributed to the Investor by the SPV on behalf of a Company.

1.4. The Investor represents and agrees that no Wefunder Party has recommended or suggested any investment in a SPV, or any investment related to a Company, to the Investor.

1.5. Investor understands that no Wefunder Party is an adviser to Investor, and that Investor is not an advisory or other client of any Wefunder Party.

1.6. The Investor is not relying on any Wefunder Party or any other person or entity with respect to the legal, accounting, business, investment, pension, tax or other economic considerations involved in this investment other than the Investor's own advisers that are not affiliated with any of the foregoing persons.

1.7. The Investor has such knowledge and experience in financial and business matters that the Investor is capable of evaluating the merits and risks of the Investor's investment in the SPV and is able to bear such risks. The Investor has obtained, in the Investor's judgment, sufficient information to evaluate the merits and risks of such investment. The Investor has evaluated the risks of investing in the SPV, understands there are substantial risks of loss incidental to the purchase of an Interest and has determined that the Interest is a suitable investment for the Investor and consistent with the general investment objectives of the Investor.

## 2. Investor's Representations Related To Investment in a SPV.

2.1. The Investor is acquiring the Interest for its own account, for investment purposes only and not with an intent to resell or distribute the Interest (or any distributions received from the SPV in whole or in part), and the Investor agrees that it will not sell or otherwise transfer the Interest unless in compliance with Regulation Crowdfunding and other applicable securities laws, and with the terms and conditions of this Agreement.

2.2. The Investor's investment in the Interest is consistent with the investment purposes, objectives and cash flow requirements of the Investor and will not adversely affect the Investor's overall need for diversification and liquidity.

2.3. The Investor has all requisite power, authority and capacity to acquire and hold the Interest and to execute, deliver and comply with the terms of each of the instruments required to be executed and delivered by the Investor in connection with the Investor's subscription for the Interest, including without limitation this Subscription Agreement, and such execution, delivery and compliance does not conflict with, or constitute a default under, any instruments governing the Investor, any law, regulation or order, or any agreement or other undertaking to which the Investor is a party or by which the Investor may be bound. If the Investor is an entity, the person executing and delivering

each of such instruments on behalf of the Investor has all requisite power, authority and capacity to execute and deliver such instruments, and, upon request by the SPV, will furnish to the SPV a true and correct copy of any instruments governing the Investor, including all amendments thereto. The signature on each of such instruments is genuine and each of such instruments constitutes a legal, valid and binding obligation of the Investor enforceable against the Investor in accordance with its terms.

2.4. The Wefunder Parties are each hereby authorized and instructed to accept and execute any instructions in respect of the Interest given by the Investor in written or electronic form. The Wefunder Parties may rely conclusively upon and shall incur no liability in respect of any action taken upon any notice, consent, request, instructions or other instrument believed in good faith to be genuine or to be signed by properly authorized persons of the Investor.

2.5. Pursuant to the requirements of Treas. Reg. § 301.6109-1(c), the Investor has provided, or agrees to provide upon the earlier of (i) two years of an acquisition of an Interest or (ii) twenty (20) days before any distribution is to be made from the SPV, his, her or its taxpayer identification number (e.g., social security number or employer identification number) under penalties of perjury and has or will attest that the Internal Revenue Service has not notified the Investor that he, she or it is subject to backup withholding.

# 3. The Manager Has The Right To Reject Any Subscription, In Whole Or In Part.

3.1. The Investor understands that the SPV will not register as an investment company under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act"), nor will it make a public offering of its securities within the United States.

3.2. The Investor understands that the value of all investments in any SPV made through individual retirement accounts ("IRAs") must be less than 25% of the value of the SPV's assets.

3.3. If the Investor is investing in a SPV through an employee benefit plan of any kind, including an individual retirement account (the "Plan"), and an individual or entity (the "Fiduciary") has entered into this Agreement on behalf of the Plan, the Fiduciary hereby makes the following representations, warranties, and covenants:

i. The Fiduciary is a fiduciary of the Plan who is authorized to invest Plan assets or is acting at the direction of a Plan fiduciary authorized to invest Plan assets. The Fiduciary has determined that an investment in the Fund is consistent with the Fiduciary's responsibilities to the Plan under Employee Retirement Income Security Act of 1974, as amended ("ERISA") or other applicable law, and is qualified to make such investment decision. The Fiduciary is authorized to make all representations, covenants and agreements set forth in this Agreement about and on behalf of the Investor, and the Fiduciary hereby agrees that, except for the representations, covenants and agreements contained in this section 3.3. all representations, covenants and agreements contained in this Agreement are made on behalf of the Investor who is investing through the Plan.

ii. The execution and delivery of this Subscription Agreement, and the investment contemplated hereby has been duly authorized by all appropriate and necessary parties pursuant to the provisions of the instrument or instruments governing the Plan and any related trust; and (B) will not violate, and is not otherwise inconsistent with, the terms of such instrument or instruments.

iii. The Fiduciary acknowledges that the assets of the Fund will be invested in accordance with the Company Information related to that Fund.

iv. The Plan's purchase and holding of an Interest will not constitute a non-exempt transaction prohibited under ERISA, Section 4975 of the Internal Revenue Code (the "Code"), or any similar laws or other federal, state, local, foreign or other laws or regulations applicable to the Plan and its investments. None of the Wefunder entities nor any of their affiliates, agents, or employees: (A) exercises any authority or control with respect to the management or disposition of assets of the Plan used to purchase an Interest, (B) renders investment advice for a fee (pursuant to an agreement or understanding that such advice will serve as a primary basis for investment decisions and that such advice will be based on the particular investment needs of the Plan), with respect to such assets of the Plan, or has the authority to do so, or (C) is an employer maintaining or contributing to, or any of whose employees are covered by, the Plan.

v. The Fiduciary understands and agrees to the fee arrangements described in the Company Information.

vi. The Fiduciary understands and agrees that, to prevent the assets of the SPV from being treated as "plan assets" for purposes of ERISA and Section 4975 of the Code, the Investor may be prohibited from purchasing or acquiring an Interest or may be required to redeem its Interest or a portion thereof.

3.4. The Investor acknowledges that the SPV and any Administrator, on the SPV's behalf, may not accept any investment from an Investor if the Investor cannot truthfully make the representations contained herein.

# 4. The Correctness And Accuracy Of All Information Provided By Investor To The LLC Or The SPV.

4.1. The Investor confirms that all information and documentation provided to the LLC, the SPV, and any Administrator, including, but not limited to, all information regarding the Investor's identity, taxpayer identification number, the source of the funds to be invested in the SPV, and the Investor's eligibility to invest in offerings under Regulation Crowdfunding, is true, correct and complete. Should any such information change or no longer be accurate, the Investor agrees and covenants that they will promptly notify the Wefunder Parties of such changes via the wefunder.com platform. The Investor agrees and covenants that he, she or it will maintain accurate and up-to-date contact information (including email and mailing address) on the wefunder.com platform and will promptly update such information in the event it changes or is no longer accurate.

4.2. The representations, warranties, agreements, undertakings and acknowledgments made by the Investor in this Subscription Agreement will be relied upon by the LLC, the SPV, and any Administrator in determining the Fund's compliance with federal and state securities laws, and shall survive the Investor's admission as a Member of the SPV.

4.3. All information that the Investor has provided to the LLC, the SPV, and any Administrator concerning the knowledge and experience of financial, tax and business matters of the Investor is correct and complete.

# 5. The Wefunder Parties' Right To Use Investor Information.

5.1. The Investor agrees and consents to the Wefunder Parties, their delegates and their duly authorized agents and any of their respective related, associated or affiliated companies obtaining, holding, using, disclosing and processing the Investor's data:

a. to facilitate the acceptance, management and administration of the Investor's subscription for an Interest on an on-going basis;

b. for any other specific purposes where the Investor has given specific consent to do so;

c. to carry out statistical analysis, market research, and tracking of investment performance over time;

d. to comply with legal or regulatory requirements applicable to the SPV and any Administrator or the Investor, including, but not limited to, in connection with anti-money laundering and similar laws;

e. for disclosure or transfer to third parties including the Investor's financial adviser (where appropriate), regulatory bodies, auditors, technology providers or to the SPV, any Administrator, any Lead Investor, and their delegates or their duly appointed agents and any of their respective related, associated or affiliated companies for the purposes specified above;

f. if the contents thereof are relevant to any issue in any action, suit or proceeding to which the LLC, the SPV, any Administrator, any Lead Investor, or their affiliates are a party or by which they are or may be bound;

g. for other legitimate business of the LLC, the SPV, any Administrator, or any Lead Investor.

5.2. The Investor acknowledges and agrees that it will provide additional information or take such other actions as may be necessary or advisable for the SPV or any Administrator (in the sole judgment of the SPV and/or any Administrator) to comply with any disclosure and compliance policies, related legal process or appropriate requests (whether formal or informal) or otherwise.

5.3. The Investor agrees and consents to disclosure by the LLC, the SPV and any of their agents, including any Administrator or any Lead Investor, to relevant third parties of information pertaining to the Investor in respect of disclosure and compliance policies or information requests related thereto. Without limiting the generality of the foregoing, the Investor agrees that information about the Investor may be provided to the Company in whose securities a SPV will or proposes to invest.

5.4. The Investor authorizes the LLC, the SPV, any Administrator, and each SPV service provider to disclose the Investor's nonpublic personal information to comply with regulatory and contractual requirements applicable to the SPV and its investments. Any such disclosure shall be permitted notwithstanding any privacy policy or similar restrictions regarding the disclosure of the Investor's nonpublic personal information.

## 6. Key Risk Factors

6.1. The Investor understands that investment in a SPV may involve a complete loss of the Investor's investment. In this regard, the Investor understands that such venture investments involve a high degree of risk, and that many or most venture company investments lose money. An Investor may ultimately receive cash, securities, or a combination of cash and securities (and in many cases nothing at all). If the Investor receives securities, the securities may not be publicly traded, and may not have any significant value.

6.2. The Investor understands and agrees that the Interests are subject to restrictions on transfer and cannot be redeemed. Instead, an Investor typically must hold his or her Interest in a SPV until the SPV has sold or otherwise disposed of its investments and the SPV distributes its investments to the investors in the SPV (a "Liquidation Event"). An Investor typically will not receive any distributions until such a Liquidation Event (and may not receive anything even upon a Liquidation Event), which may not occur for many years. The Investor must therefore bear the economic risk of holding their investment for an indefinite period of time.

6.3. The Investor understands and agrees that the Interests: (a) have not been registered under the Securities Act or any other law of the United States, or under the securities laws of any state or other jurisdiction, and therefore an Interest cannot be resold, pledged, assigned or otherwise disposed of unless it is so registered or an exemption from registration is available; and (b) can only be transferred as permitted under Regulation Crowdfunding and subject to the terms and conditions of this Agreement.

6.4. The Investor understands that no guarantees have been made to the Investor about future performance or financial results of the SPV, and an investment in the SPV may result in a gain or loss upon termination or liquidation of the SPV. It is possible that the investors in a SPV will have "phantom income," which could require them to pay taxes on their investment in a SPV even though the SPV does not distribute any income (or does not distribute sufficient income to pay the taxes).

6.5. The Investor understands and agrees that the SPV was formed by and is operated by Wefunder Admin, LLC on behalf of the Company. Investors will have no right to manage or influence the management of any SPV or of the LLC.

6.6. The Investor understands the Issuer may be required to pay an administrative fee for maintenance and operation of the SPV. Failure of the Issuer to pay such a fee could result in the dissolution of the SPV (an "SPV Dissolution Event"). Subsequent to an SPV Dissolution Event, the securities held by the SPV would be distributed directly and proportionally to the individual investors. The Investor understands that dissolution of the SPV pursuant to an SPV Dissolution Event could create administrative complexities, as investors would need to manage the securities themselves rather than having them held and administered by the SPV. Additionally, the unplanned distribution of securities may not align with investors' intended investment strategy or asset allocation. Upon an SPV Dissolution Event, the Investor hereby consents to and agrees to accept direct assignment of the SPV's rights and obligations under any investment agreements between the SPV and the Issuer that is located in the Form C or C/A offering materials. The Investor acknowledges they will be bound by all terms and conditions of such agreements as if they were an original party thereto.

6.7. The Investor understands and agrees that the Company may appoint a Lead Investor and that, if appointed, pursuant to a power of attorney granted by the Investor in the Investor Agreement, the Lead Investor will exercise voting authority on behalf of the Investor with respect to the SPV securities the Investor owns.

6.8. The Investor represents that he or she has read and understands the risk factors contained in the Company Information. The Investor understands and agrees that each Company is solely responsible for providing risk factors, conflicts of interest, and other disclosures that investors should consider when investing in securities issued by that Company (including through a SPV), and that the Wefunder Parties have no ability to assure, and have not in any way assured, that any or all such risk factors, conflicts of interest and other disclosures have been presented fully and fairly, or have been presented at all.

6.9. The Investor understands that any privacy statements, reports or other communications regarding the SPV and the Investor's investment in the SPV (including annual and other updates, and tax documents) will be delivered via electronic means, including through wefunder.com. The Investor hereby consents to electronic delivery as described in the preceding sentence. In so consenting, the Investor acknowledges that email messages are not secure and may contain computer viruses or other defects, may not be accurately replicated on other systems, or may be intercepted, deleted or interfered with, with or without the knowledge of the sender or the intended recipient. The Investor also acknowledges that an email from the Wefunder Parties may be accessed by recipients other than the Investor and may be interfered with, may contain computer viruses or other defects and may not be successfully replicated on other systems. No Wefunder Party gives any warranties in relation to these matters.

6.10. The Investor understands and agrees that if he, she or it does not provide a valid taxpayer identification number under penalties of perjury, and attest that the Investor has not been notified by the Internal Revenue Service that he, she or it is subject to backup withholding, the SPV will be required to withhold from any proceeds otherwise payable to the Investor an amount necessary to satisfy the SPV's backup withholding obligations.

6.11. The Investor understands and agrees that if he, she or it does not provide a valid taxpayer identification number to the SPV, the SPV will withhold from any proceeds otherwise payable to the Investor an amount necessary for the SPV to satisfy its tax withholding obligations with respect to such amount. The SPV may also withhold any other amounts representing the SPV's reasonable estimation of penalties that may be charged by the Internal Revenue Service or any other taxing authority as a result of the Investor's failure to provide a valid taxpayer identification number.

6.12. The Investor understands that the Issuer may be required to pay to Wefunder certain fees for the rendering of tax services and may be required to furnish Wefunder with certain tax documents in connection with these services. These obligations are specified in the Tax Services Agreement ("TSA"), where applicable. The Investor further understands and agrees that failure by the Issuer to pay such fees or failure to deliver required tax documents in the manner prescribed in the TSA, may each constitute an SPV Dissolution Event, the consequences of which are detailed in Section 6.6.

7. Compliance With Anti-Money Laundering Laws.

7.1. The Investor represents and warrants that the Investor's investment was not directly or indirectly derived from illegal activities, including any activities that would violate U.S. Federal or State laws or any laws and regulations of other countries.

7.2. The Investor acknowledges that U.S. Federal law, regulations and Executive Orders administered by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC") may prohibit the SPV, any Administrator, or any Lead Investor from, among other things, engaging in transactions with, and the provision of services to, persons on the list of Specially Designated Nationals and Blocked Persons and persons, foreign countries and territories that are the subject of U.S. sanctions administered by OFAC (collectively, the "OFAC Maintained Sanctions").

7.3. The Investor acknowledges that the SPV prohibits the investment of funds by any persons or entities that are (i) the subject of OFAC Maintained Sanctions, (ii) acting, directly or indirectly, in contravention of any applicable laws and regulations, including anti-money laundering regulations or conventions, or on behalf of persons or entities subject to an OFAC Maintained Sanction, (iii) acting, directly or indirectly, for a senior foreign political figure, any member of a senior foreign political figure's immediate family or any close associate of a senior foreign political figure, unless the SPV, after being specifically notified by the Investor in writing that it is such a person, conducts further due diligence, and determines that such investment shall be permitted, or (iv) acting, directly or indirectly, for a foreign shell bank (such persons or entities in (i) - (iv) are collectively referred to as "Prohibited Persons"). The Investor represents and warrants that it is not, and is not acting directly or indirectly on behalf of, a Prohibited Person.

7.4. To the extent the Investor has any beneficial owners, (i) it has carried out thorough

due diligence to establish the identities of such beneficial owners, (ii) based on such due diligence, the Investor reasonably believes that no such beneficial owners are Prohibited Persons, (iii) it holds the evidence of such identities and status and will maintain all such evidence for at least five years from the date of the liquidation or termination of the SPV, and (iv) it will make available such information and any additional information requested by the SPV that is required under applicable regulations.

7.5. The Investor acknowledges and agrees that the SPV or any Administrator may "freeze the account" of the Investor, including, but not limited to, by suspending distributions from the SPV to which the Investor would otherwise be entitled, if necessary to comply with anti-money laundering statutes or regulations.

7.6. The Investor acknowledges and agrees that the SPV and/or any Administrator, in complying with anti-money laundering statutes, regulations and goals, may file voluntarily and/or as required by law suspicious activity reports ("SARs") or any other information with governmental and law enforcement agencies that identify transactions and activities that the SPV or any Administrator or their agents reasonably determine to be suspicious, or is otherwise required by law. The Investor acknowledges that the LLC, the SPV, and any Administrator are prohibited by law from disclosing to third parties, including the Investor, any filing or the substance of any SARs.

7.7. The Investor agrees that, upon the request of the LLC, the SPV, or any Administrator, it will provide such information as the LLC, the SPV, or any Administrator requires to satisfy applicable anti-money laundering laws and regulations, including, without limitation, background documentation about the Investor

## 8. Regulatory Provisions

8.1. The Investor understands that no federal or state agency has passed upon the Interests or made any findings or determination as to the fairness of this investment.

8.2. The Investor certifies that the information contained in the executed copy of Form W-9 submitted to the SPV (if any) and/or the taxpayer identification provided to the SPV is correct. The Investor agrees to provide such other documentation as the SPV determines may be necessary for the SPV to fulfill any tax reporting and/or withholding requirements.

8.3. The Investor understands and agrees that the Company may cause the SPV to make an election under Section 754 of the Internal Revenue Code (the "Code") or an election to be treated as an "electing investment partnership" for purposes of Section 743 of the Code. If the SPV elects to be treated as an electing investment partnership, the Investor shall cooperate with the SPV to maintain that status and shall not take any action that would be inconsistent with such election. Upon request, the Investor shall provide the SPV with any information necessary to allow the SPV to comply with (a) its obligations to make tax basis adjustments under Section 734 or 743 of the Code and (b) its obligations as an electing investment partnership.

8.4. The Investor consents to receive any Schedule K-1 (Partner's Share of Income, Deductions, Credits, etc.) from the SPV electronically via email, the Internet and/or another electronic reporting medium in lieu of paper copies. The Investor agrees that it will confirm this consent electronically at a future date in a manner set forth by the Company at such time and as required by the electronic receipt consent rules set forth by the Internal Revenue Service. The Investor may request a paper copy of the Investor's Schedule K-1 by contacting Wefunder Inc. at support@wefunder.com or such other email address as specified on the wefunder.com platform. Requesting a paper copy will not constitute a withdrawal of the Investor's consent to receive reports or other communications, including Schedule K-1, electronically. The Investor may withdraw its consent for electronic delivery or change its contact preferences for such delivery at any time by writing to support@wefunder.com or such other email address as specified on the wefunder.com platform. Such withdrawal will take effect promptly after receipt, unless otherwise agreed upon. Upon receipt of a withdrawal request, the SPV will confirm the withdrawal and the date on which it takes effect in writing (either electronically or on paper). A withdrawal of consent does not apply to a statement that was furnished electronically before the date on which the withdrawal of consent takes effect. The SPV will cease providing information electronically upon termination of the SPV. Notwithstanding the Investor's consent to receive materials electronically, the Investor still may be required to print and attach its Schedule K-1 to a federal, state or local tax return.

## 9. Miscellaneous Provisions

### 9.1. Indemnification

9.1.1. The Investor agrees to indemnify and hold harmless the LLC, the SPV, any Administrator, any Lead Investor, or any partner, member, officer, employee, agent, affiliate or subsidiary of any of them, and each other person, if any, who controls, is controlled by, or is under common control with, any of the foregoing, within the meaning of Section 15 of the Securities Act, and their respective officers, directors, partners, members, shareholders, owners, employees and agents (collectively, the "Indemnified Parties") against any and all loss, liability, claim, damage and expense whatsoever (including all expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) arising out of or based upon (i) any false representation or warranty made by the Investor, or breach or failure by the Investor to comply with any covenant or agreement made by the Investor, in this Subscription Agreement or in any other document furnished by the Investor to any of the foregoing in connection with this transaction, or (ii) any action for securities law violations instituted by the Investor that is finally resolved by judgment against the Investor.

9.1.2. The Investor also agrees to indemnify each Indemnified Party for any and all costs, fees and expenses (including legal fees and disbursements) in connection with any damages resulting from the Investor's misrepresentation or misstatement contained herein, or the assertion of the Investor's lack of proper authorization from the beneficial owner to enter into this Subscription Agreement or perform the obligations thereof.

9.1.3. The Investor agrees to indemnify and hold harmless each Indemnified Party from and against any tax, interest, additions to tax, penalties, reasonable attorneys' and accountants' fees and disbursements, together with interest on the foregoing amounts at a rate determined by the SPV or any Administrator computed from the date of payment through the date of reimbursement, arising from the failure to withhold and pay over to the U.S. Internal Revenue Service or the taxing authority of any other jurisdiction any amounts computed, as required by applicable law, with respect to the income or gains allocated to or amounts distributed to the Investor with respect to its Interest during the period from the Investor's acquisition of the Interest until the Investor's transfer of the Interest in accordance with this Agreement, the LLC Agreement, and Regulation Crowdfunding.

9.1.4. If for any reason (other than the willful misfeasance or gross negligence of the entity that would otherwise be indemnified) the foregoing indemnification is unavailable to, or is insufficient to hold such Indemnified Party harmless, then the Investor shall contribute to the amount paid or payable by the Indemnified Party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect not only the relative benefits received by the Investor on the one hand and the Indemnified Parties on the other but also the relative fault of the Investor and the Indemnified Parties, as well as any relevant equitable considerations.

9.1.5. The reimbursement, indemnity and contribution obligations of the Investor under this section shall be in addition to any liability that the Investor may otherwise have, and shall be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of the Indemnified Parties.

9.2. **Limitation of Liability.** The LLC is a Delaware "multi-series" limited liability company. As a multi-series limited liability company, the LLC may operate multiple series with the benefit of segregation of assets and liabilities among each of its series pursuant to the Delaware Limited Liability Company Act, as amended (the "Delaware Act"). Accordingly, the Investor hereby agrees that the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a series (including the SPV) shall be enforceable against the assets of that series only and not against the LLC generally or the assets of any other series. In addition, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the LLC generally, or any particular series, shall be enforceable against the assets of any other series.

9.3. **Counsel.** The Investor understands that Morrison &amp; Foerster LLP serves as legal counsel on certain matters to Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC and Wefunder Advisors, LLC and not to the SPV or any Investor by virtue of its investment in the SPV, and that no independent counsel has been retained to represent the SPV or Investors in the SPV. The Investor also understands that Morrison &amp; Foerster LLP has not independently verified any factual assertions made in the Company Information or on the Wefunder website and is not responsible for the SPV's compliance with its investment program or applicable law.

9.4. **Power of Attorney.** The Investor hereby appoints each of the Company and Wefunder Admin, LLC as its true and lawful representative and attorney-in-fact, in its name,

place and stead to make, execute, sign, acknowledge, swear to and file:

9.4.1. a Certificate of Formation of the LLC and any amendments required under the Delaware Act

9.4.2. the LLC Agreement and any duly adopted amendments;

9.4.3. any and all instruments, certificates and other documents that may be deemed necessary or desirable to effect the winding-up and termination of the LLC or the SPV (including a Certificate of Cancellation of the Certificate of Formation); and

9.4.4. any business certificate, fictitious name certificate, related amendment or other instrument or document of any kind necessary or desirable to accomplish the LLC's or the SPV's business, purpose and objectives or required by any applicable U.S., state, local or other law.

This power of attorney is coupled with an interest, is irrevocable, and shall survive and shall not be affected by the subsequent death, disability, incompetence, termination, bankruptcy, insolvency or dissolution of the Investor; provided, however, that this power of attorney will terminate upon the substitution of another SPV member for all of the Investor's investment in the LLC or the SPV or upon the liquidation or termination of the LLC or the SPV. The Investor hereby waives any and all defenses that may be available to contest, negate or disaffirm the actions of the LLC, the SPV, and any Administrator taken in good faith under this power of attorney.

## 9.5. Confidentiality.

9.5.1. The Investor agrees that the Company Information and all financial statements (if any), tax reports (if any), portfolio valuations (if any), private placement memoranda (if any), reviews or analyses of potential or actual investments (if any), reports or other materials prepared or produced by the SPV and/or any Administrator and all other documents and information concerning the affairs of the SPV and/or the Fund's investments, including, without limitation, information about the Company, and/or the persons directly or indirectly investing in the SPV (collectively, the "Confidential Information") that the Investor may receive pursuant to or in accordance with the use of the Wefunder website, an investment in one or more SPVs, or otherwise as a result of its ownership of an Interest in the SPV, constitute proprietary and confidential information about the SPV, any Administrator, and/or any Lead Investor (the "Affected Parties").

9.5.2. The Investor acknowledges that the Affected Parties derive independent economic value from the Confidential Information not being generally known and that the Confidential Information is the subject of reasonable efforts to maintain its secrecy. The Investor further acknowledges that the Confidential Information is a trade secret, the disclosure of which is likely to cause substantial and irreparable competitive harm to the Affected Companies or their respective businesses. The Investor shall not reproduce any of the Confidential Information or portion thereof or make the contents thereof available to any third party other than a disclosure on a need-to-know basis to the Investor's legal, accounting or investment advisers, auditors and representatives (collectively, "Advisers"), except to the extent compelled to do so in accordance with applicable law (in which case the Investor shall promptly notify the SPV of the Investor's obligation to disclose any Confidential Information) or with respect to Confidential Information that otherwise becomes publicly available other than through breach of this provision by the Investor.

9.5.3. To the fullest extent permitted by law, the Investor agrees not to request disclosure or inspection of any such information after the Investor is notified (whether in response to the Investor's request for information or otherwise) that the SPV has determined not to disclose such information.

9.5.4. The Investor agrees that the LLC, the SPV, and the SPV service providers would be subject to potentially irreparable injury as a result of any breach by the Investor of the covenants and agreements set forth in this Item 9.5, and that monetary damages would not be sufficient to compensate or make whole the LLC, the SPV, and the SPV services providers for any such breach. Accordingly the Investor agrees that the LLC, the SPV, and the SPV service providers shall be entitled to equitable and injunctive relief, on an emergency, temporary, preliminary and/or permanent basis, to prevent any such breach or the continuation thereof.

9.6. Amendments. Neither this Subscription Agreement nor any term hereof may be

supplemented, changed, waived, discharged or terminated except with the written consent of the Investor and the Company on behalf of the relevant SPV. For the sake of clarity, the restriction on the Company in the preceding sentence applies solely to the form of this Subscription Agreement applicable to SPVs that have had a closing, and does not prevent the Company from changing the form and content of this Subscription Agreement for use in offerings of SPVs that have not had a closing.

9.7. **Assignability and Transferability.** This Subscription Agreement is not transferable or assignable by the Investor without the prior written consent of the Company on behalf of the SPV, and any transfer or assignment in violation of this provision shall be null and void. The Interests in the SPV being acquired by Investor herein may only be transferred by Investor in compliance with Regulation Crowdfunding and the terms and conditions of this Agreement. If Investor seeks to transfer the Interests, Investor shall first give written notice to the Company and Wefunder Admin, LLC, including the number of Interests that Investor desires to transfer, the proposed price, the name and contact information of the proposed buyer, and any other information that the Company or Wefunder Admin, LLC may reasonably request. To the extent possible, such notice shall be provided through the Wefunder.com website. Any transfer of Interests shall be subject to execution by Investor and the proposed transferee of appropriate documentation, as may be required by the Company or Wefunder Admin, LLC, in their discretion. Investor further acknowledges that pursuant to the LLC Agreement, Wefunder Admin, LLC (as Series Manager of the SPV), may impose additional restrictions on or prohibit the Transfer of Interests for any reason or no reason, in its sole discretion.

9.8. **Repurchase.** In the event that the SPV or any Administrator determines that it is likely that within twelve (12) months the securities of the SPV or the Company will be held of record by a number of persons that would require the SPV or the Company to register a class of its equity securities under the Securities Exchange Act of 1934, as amended ("Exchange Act"), as required by Section 12(g) or 15(d) thereof, the SPV shall have the option to repurchase the Interests from each Investor to the extent necessary to avoid the requirement to register a class of its securities under the Exchange Act. Such repurchase of Interests shall be for the greater of (i) the purchase price of the Interests, or (ii) the fair market value of the Interests, as determined by an independent appraiser of securities chosen by the Administrator. Any such repurchase may only occur with the consent of Wefunder Admin, LLC, as Series Manager of the SPV.

9.9. **Governing Law:** Consent to Jurisdiction. Notwithstanding the place where this Subscription Agreement may be executed by any of the parties hereto, the parties expressly agree that all the terms and provisions hereof shall be construed under the laws of the State of Delaware. Any action or proceeding brought by the SPV or any SPV service provider against one or more investors in the SPV relating in any way to this Subscription Agreement or the LLC Agreement may, and any action or proceeding brought by any other party against the SPV or any SPV service provider relating in any way to this Subscription Agreement or the Company Information shall, be brought and enforced in the state courts of the State of Delaware located in Wilmington or (to the extent subject matter jurisdiction exists therefore) in the courts of the United States located in the District of Delaware; and the Investor and the SPV irrevocably submit to the jurisdiction of both such state and federal courts in respect of any such action or proceeding. The Investor and the SPV irrevocably waive, to the fullest extent permitted by law, any objection that they may now or hereafter have to laying the venue of any such action or proceeding in the courts of the State of Delaware located in Wilmington or in the courts of the United States located in the District of Delaware and any claim that any such action or proceeding brought in any such court has been brought in an inconvenient forum.

9.10. **Severability.** If any provision of this Subscription Agreement is invalid or unenforceable under any applicable law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such applicable law. Any provision hereof that may be held invalid or unenforceable under any applicable law shall not affect the validity or enforceability of any other provisions hereof, and to this extent the provisions hereof shall be severable.

9.11. **Headings.** The headings in this Subscription Agreement are for convenience of reference only, and shall not limit or otherwise affect the meaning hereof.

9.12. **General.** This Subscription Agreement shall be binding upon the Investor and the legal representatives, successors and assigns of the Investor, shall survive the admission of the Investor as a member of a SPV, and shall, if the Investor consists of more than one person, be the joint and several obligation of all such persons.

[Remainder of page intentionally left blank. Signature page follows.]

The undersigned have executed this instrument as of the date first above written.

SPV

EndoSound I, as series of Wefunder SPV, LLC
By: Wefunder Admin, LLC, its Manager

By: Wefunder Signature
Date:

Name: Nicholas Tommarello
Title: Chief Executive Officer

Investor

[INVESTOR NAME]

By: Investor Signature
Date:

CONTACT INFORMATION:

Name: [INVESTOR NAME]

Mailing Address:

City:

Country:

E-mail:

# TERMS APPENDIX FOR THE PURCHASE OF ENDOSOUND, INC. SECURITIES BY EndoSound I. A SERIES OF WEFUNDER SPV. LLC. A DELAWARE LIMITED LIABILITY COMPANY

Type of Security: Convertible Note

Terms $45M valuation cap and 20% discount

{ To view a copy of the contract, please see <b>Appendix B, Investor Contracts</b> of the Form C. The latest Form C or C/A filing be found here:<br/>
<a target='blank' href="https://www.sec.gov/cgi-bin/srch-edgar?text=%28FORM-TYPE%3DC%2FA+or+FORM-TYPE%3DC%29+and+CIK%3D0001850978&amp;first=2016">https://www.sec.gov/cgi-bin/srch-edgar?text=%28FORM-TYPE%3DC%2FA+or+FORM-TYPE%3DC%29+and+CIK%3D0001850978&amp;first=2016</a> }

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

THIS NOTE AND THE SECURITIES ISSUABLE UPON THE CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATES IN THE UNITED STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

## CONVERTIBLE PROMISSORY NOTE

Note Series:
Date of Note: [EFFECTIVE DATE]
Principle Amount of Note: $[INVESTMENT AMOUNT]

For value received ENDOSOUND, INC., a corporation (the "Company"), promises to pay to the undersigned holder or such party's assigns (the "Holder") the principal amount set forth above with simple interest on the outstanding principal amount at the rate of 5.0% per annum. Interest shall commence with the date hereof and shall continue on the outstanding principal amount until paid in full or converted. Interest shall be computed on the basis of a year of 365 days for the actual number of days elapsed. All unpaid interest and principal shall be due and payable upon request of the Majority Holders on or after 2026-02-17T22:38:52.724Z (the "Maturity Date").

## 1. BASIC TERMS.

a. Series of Notes. This convertible promissory note (the "Note") is issued as part of a series of notes designated by the Note Series above (collectively, the "Notes") and issued in a series of multiple closings to certain persons and entities (collectively, the "Holders"). The Company shall maintain a ledger of all Holders.

b. Payments. All payments of interest and principal shall be in lawful money of the United States of America and shall be made pro rata among all Holders. All payments shall be applied first to accrued interest, and thereafter to principal.

c. Prepayment. The Company may not prepay this Note prior to the Maturity Date without the consent of the Holders of a majority of the outstanding principal amount of the Notes (the "Majority Holders").

## 2. CONVERSION AND REPAYMENT.

a. Conversion upon a Qualified Financing. In the event that the Company issues and sells shares of its equity securities ("Equity Securities") to investors (the "Investors") while this Note remains outstanding in an equity financing with total proceeds to the Company of not less than $1000000 (excluding the conversion of the Notes or other convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)) (a "Qualified Financing"), then the outstanding principal amount of this Note and any unpaid accrued interest shall automatically convert in whole without any further action by the Holder into Equity Securities sold in the Qualified Financing at a conversion price equal to the lesser of (i) the price paid per share for Equity Securities by the Investors in the Qualified Financing multiplied by 0.8, and (ii) the quotient resulting from dividing $4500000.0 by the number of outstanding shares of common stock of the Company immediately prior to the Qualified Financing (assuming conversion of all securities convertible into common stock and exercise of all outstanding options and warrants, but excluding the shares of equity securities of the Company issuable upon the conversion of the Notes or other convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)). The issuance of Equity Securities pursuant to the conversion of this Note shall be upon and subject to the same terms and conditions applicable to Equity Securities sold in the Qualified Financing. Notwithstanding this paragraph, if the conversion price of the Notes as determined pursuant to this paragraph (the "Conversion Price") is less than the price per share at which Equity Securities are issued in the Qualified Financing, the Company may, solely at its option, elect to convert this Note into shares of a newly created series of preferred stock having the identical rights, privileges, preferences and restrictions as Equity Securities issued in the Qualified Financing, and otherwise on the same terms and conditions, other than with respect to (if applicable): (i) the per share liquidation preference and the conversion price for purposes of price-based anti-dilution protection, which will equal the Conversion Price; and (ii) the per share dividend, which will be the same percentage of the Conversion Price as applied to determine the per share dividends of the Investors in the Qualified Financing relative to the purchase price paid by the Investors.

b. Change of Control. If the Company consummates a Change of Control (as defined below) while this Note remains outstanding, the Company shall repay the Holder in cash in an amount equal to the outstanding principal amount of this Note plus any unpaid accrued interest on the original principal, plus (ii) a repayment premium

equal to 50% of the outstanding principal amount of this Note; provided, however, that upon the written election of the Holder made not less than five days prior to the Change of Control, the Company shall convert the outstanding principal balance of this Note and any unpaid accrued interest into shares of the Company's Common Stock at a conversion price equal to the quotient resulting from dividing $4500000.0 by the number of outstanding shares of Common Stock of the Company immediately prior to the Change of Control (assuming conversion of all securities convertible into Common Stock and exercise of all outstanding options and warrants, but excluding the shares of equity securities of the Company issuable upon the conversion of Notes or other convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)). For purposes of this Note, a "Change of Control" means (i) a consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, other than any such consolidation, merger or reorganization in which the shares of capital stock of the Company immediately prior to such consolidation, merger or reorganization continue to represent a majority of the voting power of the surviving entity immediately after such consolidation, merger or reorganization; (ii) any transaction or series of related transactions to which the Company is a party in which in excess of 50% of the Company's voting power is transferred; or (iii) the sale or transfer of all or substantially all of the Company's assets, or the exclusive license of all or substantially all of the Company's material intellectual property; provided that a Change of Control shall not include any transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by the Company or any successor, indebtedness of the Company is cancelled or converted or a combination thereof. The Company shall give the Holder notice of a Change of Control not less than 10 days prior to the anticipated date of consummation of the Change of Control. Any repayment pursuant to this paragraph in connection with a Change of Control shall be subject to any required tax withholdings, and may be made by the Company (or any party to such Change of Control or its agent) following the Change of Control in connection with payment procedures established in connection with such Change of Control.

c. Procedure for Conversion. In connection with any conversion of this Note into capital stock, the Holder shall surrender this Note to the Company and deliver to the Company any documentation reasonably required by the Company (including, in the case of a Qualified Financing, all financing documents executed by the Investors in connection with such Qualified Financing). The Company shall not be required to issue or deliver the capital stock into which this Note may convert until the Holder has surrendered this Note to the Company and delivered to the Company any such documentation. Upon the conversion of this Note into capital stock pursuant to the terms hereof, in lieu of any fractional shares to which the Holder would otherwise be entitled, the Company shall pay the Holder cash equal to such fraction multiplied by the price at which this Note converts.

d. Interest Accrual. If a Change of Control or Qualified Financing is consummated, all interest on this Note shall be deemed to have stopped accruing as of a date selected by the Company that is up to 10 days prior to the signing of the definitive agreement for the Change of Control or Qualified Financing.

3. REPRESENTATIONS AND WARRANTIES

a. Representations and Warranties of the Company: The Company hereby represents and warrants to the Holder as follows:

i. Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Oregon. The Company has the requisite corporate power to own and operate its properties and assets and to carry on its business as now conducted and as proposed to be conducted. The Company is duly qualified and is authorized to do business and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes such qualification necessary, except for those jurisdictions in which failure to do so would not have a material adverse effect on the Company or its business (a "Material Adverse Effect").

ii. Corporate Power. The Company has all requisite corporate power to issue this Note and to carry out and perform its obligations under this Note. The Company's Board of Directors (the "Board") has approved the issuance of this Note based upon a reasonable belief that the issuance of this Note is appropriate for the Company after reasonable inquiry concerning the Company's financing objectives and financial situation.

iii. Authorization. All corporate action on the part of the Company, the Board and the Company's stockholders necessary for the issuance and delivery of this Note has been taken. This Note constitutes a valid and binding obligation of the Company enforceable in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency, the relief of debtors and, with respect to rights to indemnity, subject to federal and state securities laws. Any securities issued upon conversion of this Note (the "Conversion Securities"), when issued in compliance with the provisions of this Note, will be validly issued, fully paid, nonassessable, free of any liens or encumbrances and issued in compliance with all applicable federal and securities laws.

iv. Governmental Consents. All consents, approvals, orders or authorizations of, or registrations, qualifications, designations, declarations or filings with, any

governmental authority required on the part of the Company in connection with issuance of this Note has been obtained.

v. Compliance with Laws. To its knowledge, the Company is not in violation of any applicable statute, rule, regulation, order or restriction of any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of its business or the ownership of its properties, which violation of which would have a Material Adverse Effect.

vi. Compliance with Other Instruments. The Company is not in violation or default of any term of its certificate of incorporation or bylaws, or of any provision of any mortgage, indenture or contract to which it is a party and by which it is bound or of any judgment, decree, order or writ, other than such violation(s) that would not have a Material Adverse Effect. The execution, delivery and performance of this Note will not result in any such violation or be in conflict with, or constitute, with or without the passage of time and giving of notice, either a default under any such provision, instrument, judgment, decree, order or writ or an event that results in the creation of any lien, charge or encumbrance upon any assets of the Company or the suspension, revocation, impairment, forfeiture or nonrenewal of any material permit, license, authorization or approval applicable to the Company, its business or operations or any of its assets or properties. Without limiting the foregoing, the Company has obtained all waivers reasonably necessary with respect to any preemptive rights, rights of first refusal or similar rights, including any notice or offering periods provided for as part of any such rights, in order for the Company to consummate the transactions contemplated hereunder without any third party obtaining any rights to cause the Company to offer or issue any securities of the Company as a result of the consummation of the transactions contemplated hereunder.

vii. No "Bad Actor" Disqualification. The Company has exercised reasonable care to determine whether any Company Covered Person (as defined below) is subject to any of the "bad actor" disqualifications described in Rule 506(d)(1)(i) through (viii), as modified by Rules 506(d)(2) and (d)(3), under the Act ("Disqualification Events"). To the Company's knowledge, no Company Covered Person is subject to a Disqualification Event. The Company has complied, to the extent required, with any disclosure obligations under Rule 506(e) under the Act. For purposes of this Note, "Company Covered Persons" are those persons specified in Rule 506(d)(1) under the Act; provided, however, that Company Covered Persons do not include (a) any Holder, or (b) any person or entity that is deemed to be an affiliated issuer of the Company solely as a result of the relationship between the Company and any Holder.

viii. Offering. Assuming the accuracy of the representations and warranties of the Holder contained in subsection (b) below, the offer, issue and sale of this Note and the Conversion Securities (collectively, the "Securities") are and will be exempt from the registration and prospectus delivery requirements of the Act, and have been registered or qualified (or are exempt from registration and qualification) under the registration, permit or qualification requirements of all applicable state securities laws.

ix. Use of Proceeds. The Company shall use the proceeds of this Note solely for the operations of its business, and not for any personal, family or household purpose.

b. Representations and Warranties of the Holder. The Holder hereby represents and warrants to the Company as of the date hereof as follows:

i. Purchase for Own Account. The Holder is acquiring the Securities solely for the Holder's own account and beneficial interest for investment and not for sale or with a view to distribution of the Securities or any part thereof, has no present intention of selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the same, and does not presently have reason to anticipate a change in such intention.

ii. Information and Sophistication. Without lessening or obviating the representations and warranties of the Company set forth in subsection (a) above, the Holder hereby: (A) acknowledges that the Holder has received all the information the Holder has requested from the Company and the Holder considers necessary or appropriate for deciding whether to acquire the Securities, (B) represents that the Holder has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Securities and to obtain any additional information necessary to verify the accuracy of the information given the Holder and (C) further represents that the Holder has such knowledge and experience in financial and business matters that the Holder is capable of evaluating the merits and risk of this investment.

iii. Ability to Bear Economic Risk. The Holder acknowledges that investment in the Securities involves a high degree of risk, and represents that the Holder is able, without materially impairing the Holder's financial condition, to hold the Securities for an indefinite period of time and to suffer a complete loss of the Holder's investment.

iv. Further Limitations on Disposition. Without in any way limiting the representations set forth above, the Holder further agrees not to make any

disposition of all or any portion of the Securities unless and until:

1. There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or
2. The Holder shall have notified the Company of the proposed disposition and furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and if reasonably requested by the Company, the Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration under the Act or any applicable state securities laws; provided that no such opinion shall be required for dispositions in compliance with Rule 144 under the Act, except in unusual circumstances.
3. Notwithstanding the provisions of paragraphs (1) and (2) above, no such registration statement or opinion of counsel shall be necessary for a transfer by the Holder to a partner (or retired partner) or member (or retired member) of the Holder in accordance with partnership or limited liability company interests, or transfers by gift, will or intestate succession to any spouse or lineal descendants or ancestors, if all transferees agree in writing to be subject to the terms hereof to the same extent as if they were the Holders hereunder.

v. No "Bad Actor" Disqualification. The Holder represents and warrants that neither (A) the Holder nor (B) any entity that controls the Holder or is under the control of, or under common control with, the Holder, is subject to any Disqualification Event, except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Act and disclosed in writing in reasonable detail to the Company. The Holder represents that the Holder has exercised reasonable care to determine the accuracy of the representation made by the Holder in this paragraph, and agrees to notify the Company if the Holder becomes aware of any fact that makes the representation given by the Holder hereunder inaccurate.

vi. Foreign Investors. If the Holder is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended (the "Code"), the Holder hereby represents that he, she or it has satisfied itself as to the full observance of the laws of the Holder's jurisdiction in connection with any invitation to subscribe for the Securities or any use of this Note, including (A) the legal requirements within the Holder's jurisdiction for the purchase of the Securities, (B) any foreign exchange restrictions applicable to such purchase, (C) any governmental or other consents that may need to be obtained, and (D) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Securities. The Holder's subscription, payment for and continued beneficial ownership of the Securities will not violate any applicable securities or other laws of the Holder's jurisdiction.

vii. Forward-Looking Statements. With respect to any forecasts, projections of results and other forward-looking statements and information provided to the Holder, the Holder acknowledges that such statements were prepared based upon assumptions deemed reasonable by the Company at the time of preparation. There is no assurance that such statements will prove accurate, and the Company has no obligation to update such statements.

## 4. EVENTS OF DEFAULTS

a. If there shall be any Event of Default (as defined below) hereunder, at the option and upon the declaration of the Majority Holders and upon written notice to the Company (which election and notice shall not be required in the case of an Event of Default under subsection (ii) or (iii) below), this Note shall accelerate and all principal and unpaid accrued interest shall become due and payable. The occurrence of any one or more of the following shall constitute an "Event of Default":

i. The Company fails to pay timely any of the principal amount due under this Note on the date the same becomes due and payable or any unpaid accrued interest or other amounts due under this Note on the date the same becomes due and payable;

ii. The Company files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; or

iii. An involuntary petition is filed against the Company (unless such petition is dismissed or discharged within 60 days under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee or assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of the Company).

b. In the event of any Event of Default hereunder, the Company shall pay all reasonable attorneys' fees and court costs incurred by the Holder in enforcing and collecting this Note.

## 5. MISCELLANEOUS PROVISIONS

a. Waivers. The Company hereby waives demand, notice, presentment, protest and notice of dishonor.

b. Further Assurances. The Holder agrees and covenants that at any time and from time to time the Holder will promptly execute and deliver to the Company such further instruments and documents and take such further action as the Company may reasonably require in order to carry out the full intent and purpose of this Note and to comply with state or federal securities laws or other regulatory approvals.

c. Transfers of Notes. This Note may be transferred only upon its surrender to the Company for registration of transfer, duly endorsed, or accompanied by a duly executed written instrument of transfer in form satisfactory to the Company. Thereupon, this Note shall be reissued to, and registered in the name of, the transferee, or a new Note for like principal amount and interest shall be issued to, and registered in the name of, the transferee. Interest and principal shall be paid solely to the registered holder of this Note. Such payment shall constitute full discharge of the Company's obligation to pay such interest and principal.

d. Market Standoff. To the extent requested by the Company or an underwriter of securities of the Company, each Holder and any permitted transferee thereof shall not, without the prior written consent of the managing underwriters in the IPO (as hereafter defined), offer, sell, make any short sale of, grant or sell any option for the purchase of, lend, pledge, otherwise transfer or dispose of (directly or indirectly), enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership (whether any such transaction is described above or is to be settled by delivery of Securities or other securities, in cash, or otherwise), any Securities or other shares of stock of the Company then owned by such Holder or any transferee thereof, or enter into an agreement to do any of the foregoing, for up to 180 days following the effective date of the registration statement of the initial public offering of the Company (the "IPO") filed under the Securities Act. For purposes of this paragraph, "Company" includes any wholly owned subsidiary of the Company into which the Company merges or consolidates. The Company may place restrictive legends on the certificates representing the shares subject to this paragraph and may impose stop transfer instructions with respect to the Securities and such other shares of stock of each Holder and any transferee thereof (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. Each Holder and any transferee thereof shall enter into any agreement reasonably required by the underwriters to the IPO to implement the foregoing within any reasonable timeframe so requested. The underwriters for any IPO are intended third party beneficiaries of this paragraph and shall have the right, power and authority to enforce the provisions of this paragraph as though they were parties hereto.

e. Amendment and Waiver. Any term of this Note may be amended or waived with the written consent of the Company and the Holder. In addition, any term of this Note may be amended or waived with the written consent of the Company and the Majority Holders. Upon the effectuation of such waiver or amendment with the consent of the Majority Holders in conformance with this paragraph, such amendment or waiver shall be effective as to, and binding against the holders of, all of the Notes, and the Company shall promptly give written notice thereof to the Holder if the Holder has not previously consented to such amendment or waiver in writing; provided that the failure to give such notice shall not affect the validity of such amendment or waiver.

f. Governing Law. This Note shall be governed by and construed under the laws of the State of Oregon, as applied to agreements among Oregon residents, made and to be performed entirely within the State of Oregon, without giving effect to conflicts of laws principles.

g. Binding Agreement. The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Note, expressed or implied, is intended to confer upon any third party any rights, remedies, obligations or liabilities under or by reason of this Note, except as expressly provided in this Note.

h. Counterparts; Manner of Delivery. This Note may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

i. Titles and Subtitles. The titles and subtitles used in this Note are used for convenience only and are not to be considered in construing or interpreting this Note.

j. Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (iii) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications

to a party shall be sent to the party's address in their Wefunder account at such other address(es) as such party may designate by 10 days' advance written notice to the other party hereto.

k. Expenses. The Company and the Holder shall each bear its respective expenses and legal fees incurred with respect to the negotiation, execution and delivery of this Note and the transactions contemplated herein.

l. Delays or Omissions. It is agreed that no delay or omission to exercise any right, power or remedy accruing to the Holder, upon any breach or default of the Company under this Note shall impair any such right, power or remedy, nor shall it be construed to be a waiver of any such breach or default, or any acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or character by the Holder of any breach or default under this Note, or any waiver by the Holder of any provisions or conditions of this Note, must be in writing and shall be effective only to the extent specifically set forth in writing and that all remedies, either under this Note, or by law or otherwise afforded to the Holder, shall be cumulative and not alternative. This Note shall be void and of no force or effect in the event that the Holder fails to remit the full principal amount to the Company within five calendar days of the date of this Note.

m. Entire Agreement. This Note constitutes the full and entire understanding and agreement between the parties with regard to the subjects hereof, and no party shall be liable or bound to any other party in any manner by any representations, warranties, covenants and agreements except as specifically set forth herein.

n. Exculpation among Holders. The Holder acknowledges that the Holder is not relying on any person, firm or corporation, other than the Company and its officers and Board members, in making its investment or decision to invest in the Company.

o. Senior Indebtedness. The indebtedness evidenced by this Note is subordinated in right of payment to the prior payment in full of any Senior Indebtedness in existence on the date of this Note or hereafter incurred. "Senior Indebtedness" shall mean, unless expressly subordinated to or made on a parity with the amounts due under this Note, all amounts due in connection with (i) indebtedness of the Company to banks or other lending institutions regularly engaged in the business of lending money (excluding venture capital, investment banking or similar institutions and their affiliates, which sometimes engage in lending activities but which are primarily engaged in investments in equity securities), and (ii) any such indebtedness or any debentures, notes or other evidence of indebtedness issued in exchange for such Senior Indebtedness, or any indebtedness arising from the satisfaction of such Senior Indebtedness by a guarantor.

p. Broker's Fees. Each party hereto represents and warrants that no agent, broker, investment banker, person or firm acting on behalf of or under the authority of such party hereto is or will be entitled to any broker's or finder's fee or any other commission directly or indirectly in connection with the transactions contemplated herein. Each party hereto further agrees to indemnify each other party for any claims, losses or expenses incurred by such other party as a result of the representation in this subsection being untrue.

q. California Corporate Securities Law. THE SALE OF THE SECURITIES WHICH ARE THE SUBJECT OF THIS NOTE HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR TO SUCH QUALIFICATION OR IN THE ABSENCE OF AN EXEMPTION FROM SUCH QUALIFICATION IS UNLAWFUL. PRIOR TO ACCEPTANCE OF SUCH CONSIDERATION BY THE COMPANY, THE RIGHTS OF ALL PARTIES TO THIS NOTE ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED OR AN EXEMPTION FROM SUCH QUALIFICATION BEING AVAILABLE.

r. Severability. If one or more provisions of this Note are held to be unenforceable under applicable law, such provision shall be deemed amended to achieve an effect that is as near as possible to that provided by the original provision and the legality, validity and enforceability of the remaining provisions of this Note shall not be affected and this Agreement shall be enforceable in accordance with its terms.

[Signature pages follow]

IN WITNESS WHEREOF, the parties have executed this agreement as of [EFFECTIVE DATE].

Investment Amount: $[INVESTMENT AMOUNT]

**COMPANY:**
ENDOSOUND, INC.
*Founder Signature*
Name: Josh Cohn
Title: Chief Commercial Officer

**Read and Approved (For IRA Use Only):**
**SUBSCRIBER**

By:
By: *Investor Signature*
Name: [INVESTOR NAME]
Title:

The Subscriber is an "accredited investor" as that term is defined in Regulation D promulgated by the Securities and Exchange Commission under the Securities Act.

Please indicate Yes or No by checking the appropriate box:
☐ Accredited
☐ Not Accredited

SIGNATURE PAGE

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

KBF CERTIFIED PUBLIC ACCOUNTANTS - AUDIT, LLP

# ENDOSOUND, INC.

Financial Statements
December 31, 2024 and 2023

With Independent Accountant’s Review Report

EndoSound, Inc.
Table of Contents
December 31, 2024 and 2023

Independent Accountant's Review Report 1

Balance Sheets
December 31, 2024 and 2023 2

Statements of Operations
Years Ended December 31, 2024 and 2023 3

Statements of Changes in Stockholders' Equity (Deficit)
Years Ended December 31, 2024 and 2023 4

Statements of Cash Flows
Years Ended December 31, 2024 and 2023 5

Notes to Financial Statements 6

KBF CERTIFIED PUBLIC ACCOUNTANTS - AUDIT, LLP

# INDEPENDENT ACCOUNTANT'S REVIEW REPORT

To The Board of Directors and Stockholders
EndoSound, Inc.:

We have reviewed the accompanying financial statements of EndoSound, Inc., which comprise the balance sheets as of December 31, 2024 and 2023 and the related statements of operations, changes in stockholders' equity (deficit), and cash flows for the years then ended, and the related notes to the financial statements. 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 these 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 engagement 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 EndoSound, Inc. and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our reviews.

## 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 accordance with accounting principles generally accepted in the United States of America.

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

The accompanying financial statements have been prepared assuming that the company will continue as a going concern. As discussed in Note 3 to the financial statements, the company has suffered recurring losses from operations, has a net capital deficiency, and has stated that substantial doubt exists about the company's ability to continue as a going concern. Management's evaluation of the events and conditions and management's plans regarding these matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our conclusion is not modified with respect to this matter.

KBF CPAs - Audit, LLP

KBF CPAs - Audit, LLP
Lake Oswego, Oregon

June 4, 2025

| 400 Spectrum Center Drive Suite 250 Irvine, CA 92618 (949) 529-3900 | 5285 Meadows Road Suite 420 Lake Oswego, OR 97035 (503) 963-4720 | 12750 High Bluff Drive Suite 160 San Diego, CA 92130 (858) 465-1510 | 601 Union Street Suite 1710 Seattle, WA 98101 (206) 496-1515 |
| --- | --- | --- | --- |

EndoSound, Inc.
Balance Sheets
December 31, 2024 and 2023

|  | 2024 | 2023 |
| --- | --- | --- |
| Assets |  |  |
| Current assets: |  |  |
| Cash and cash equivalents | $422,660 | $1,356,366 |
| Accounts receivable, net | 89,009 | 28,414 |
| Inventory | 235,919 | 541,441 |
| Prepaid expenses | 45,941 | 57,306 |
| Total current assets | 793,529 | 1,983,527 |
| Property and equipment, net | 106,008 | 92,356 |
| Other assets | 6,079 | 4,416 |
| Total assets | $905,616 | $2,080,299 |
| Liabilities and Stockholders' Equity (Deficit) |  |  |
| Current liabilities: |  |  |
| Accounts payable | $131,021 | $482,090 |
| Accrued expenses | 133,250 | 4,480 |
| Convertible notes payable | 1,540,951 | - |
| Total liabilities | 1,805,222 | 486,570 |
| Stockholders' equity: |  |  |
| Series Seed-1 preferred stock, $0.00001 par value; 2,000,000 shares authorized; 1,950,898 shares issued and outstanding (aggregate liquidation preference of $1,755,808) | 20 | 20 |
| Series A preferred stock, $0.00001 par value; 4,100,000 shares authorized; 3,898,468 shares issued and outstanding (aggregate liquidation preference of $5,110,892) | 39 | 39 |
| Common stock, $0.00001 par value; 21,000,000 shares authorized; 8,892,830 and 8,824,080 shares issued and outstanding as of December 31, 2024 and 2023 | 89 | 88 |
| Additional paid-in capital | 7,406,068 | 7,271,965 |
| Accumulated deficit | (8,305,822) | (5,678,383) |
| Total stockholders' equity (deficit) | (899,606) | 1,593,729 |
| Total liabilities and stockholders' equity (deficit) | $905,616 | $2,080,299 |

See accompanying notes and independent accountant's review report.

# EndoSound, Inc.
## Statements of Operations
### Years Ended December 31, 2024 and 2023

|  | 2024 | 2023 |
| --- | --- | --- |
| Revenues: |  |  |
| License revenue | $943,000 | $1,500,000 |
| Product revenue | 593,427 | - |
| Other revenue | 5,080 | 51,500 |
| Total revenues | 1,541,507 | 1,551,500 |
| Cost of revenues | 301,574 | - |
| Gross margin | 1,239,933 | 1,551,500 |
| Operating expenses: |  |  |
| Sales and marketing | 1,002,672 | 805,222 |
| General and administrative | 1,826,344 | 1,580,001 |
| Research and development | 896,397 | 2,426,802 |
| Total operating expenses | 3,725,413 | 4,812,025 |
| Loss from operations | (2,485,480) | (3,260,525) |
| Other income (expense): |  |  |
| Interest expense, net | (163,162) | (26,715) |
| Other income, net | 116,559 | 37,643 |
| Total other income (expense), net | (46,603) | 10,928 |
| Loss before taxes | (2,532,083) | (3,249,597) |
| Income tax expense | (95,356) | (150,550) |
| Net loss | $(2,627,439) | $(3,400,147) |

See accompanying notes and independent accountant's review report.

EndoSound, Inc.
Statements of Changes in Stockholders' Equity (Deficit)
Years Ended December 31, 2024 and 2023

|  | Series Seed-1 Preferred Stock |  | Series A Preferred Stock |  | Common Stock |  | Additional Paid-in Capital | Accumulated Deficit | Total Stockholders' Equity (Deficit) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | Shares | Amount | Shares | Amount | Shares | Amount |  |  |  |
| Balances, January 1, 2023 | 1,950,898 | $20 | - | $ - | 8,620,238 | $86 | $2,146,451 | $(2,278,236) | $(131,679) |
| Stock-based compensation expense | - | - | - | - | - | - | 98,034 | - | 98,034 |
| Conversion of convertible notes and accrued interest into Series A preferred stock and common stock | - | - | 1,040,732 | 10 | 200,718 | 2 | 1,364,399 | - | 1,364,411 |
| Issuance of Series A preferred stock, net of $83,857 issuance costs | - | - | 2,857,736 | 29 | - | - | 3,662,613 | - | 3,662,642 |
| Exercise of stock options | - | - | - | - | 1,562 | - | 468 | - | 468 |
| Net loss | - | - | - | - | - | - | - | (3,400,147) | (3,400,147) |
| Balances, December 31, 2023 | 1,950,898 | 20 | 3,898,468 | 39 | 8,822,518 | 88 | 7,271,965 | (5,678,383) | 1,593,729 |
| Stock-based compensation expense | - | - | - | - | - | - | 115,744 | - | 115,744 |
| Exercise of stock options | - | - | - | - | 70,312 | 1 | 18,359 | - | 18,360 |
| Net loss | - | - | - | - | - | - | - | (2,627,439) | (2,627,439) |
| Balances, December 31, 2024 | 1,950,898 | $20 | 3,898,468 | $39 | 8,892,830 | $89 | $7,406,068 | $(8,305,822) | $(899,606) |

See accompanying notes and independent accountants review report.

# EndoSound, Inc.
## Statements of Cash Flows
## Years Ended December 31, 2024 and 2023

|  | 2024 | 2023 |
| --- | --- | --- |
| Cash flows from operating activities: |  |  |
| Net loss | $(2,627,439) | (3,400,147) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| Depreciation | 69,587 | 39,590 |
| Stock-based compensation expense | 115,744 | 98,034 |
| Non-cash interest expense | 27,041 | 32,882 |
| Accretion of convertible notes | 138,910 | - |
| Change in allowance for credit losses | 43,000 | - |
| Changes in operating assets and liabilities: |  |  |
| Accounts receivable | (103,595) | (28,414) |
| Inventory | 305,522 | (112,520) |
| Prepaid expenses and other assets | 9,702 | (10,240) |
| Accounts payable | (351,069) | 48,385 |
| Accrued expenses | 128,770 | 4,475 |
| Net cash used in operating activities | (2,243,827) | (3,327,955) |
| Cash flows from investing activities: |  |  |
| Purchases of property and equipment | (83,239) | (40,321) |
| Net cash used in investing activities | (83,239) | (40,321) |
| Cash flows from financing activities: |  |  |
| Proceeds from issuance of convertible notes payable | 1,375,000 | 550,000 |
| Proceeds from issuance of Series A preferred stock | - | 3,746,499 |
| Financing costs incurred in issuance of Series A preferred stock | - | (83,857) |
| Proceeds from exercise of stock options | 18,360 | 468 |
| Net cash provided by financing activities | 1,393,360 | 4,213,110 |
| Net increase (decrease) in cash and cash equivalents | (933,706) | 844,834 |
| Cash and cash equivalents, beginning of year | 1,356,366 | 511,532 |
| Cash and cash equivalents, end of year | $422,660 | 1,356,366 |
| Supplemental cash flow information: |  |  |
| Cash paid for income taxes | $98,218 | 151,795 |
| Non-cash information: |  |  |
| Conversion of convertible notes and accrued interest into Series A preferred stock and common stock | $ - | 1,364,411 |

See accompanying notes and independent accountant's review report.

EndoSound, Inc.
Notes to Financial Statements
December 31, 2024 and 2023

## (1) Organization

EndoSound Inc. (“the Company”) is headquartered in Portland, Oregon and provides access to endoscopic ultrasound technology for the diagnosis and treatment of various disorders of the digestive tract. The Company was founded in 2016 as a Florida Limited Liability Company (“LLC”). In June 2020, the Company converted from an LLC to EndoSound, Inc., a Delaware corporation.

The Company has been developing its technology since inception and there have been no product sales through 2023. The Company received its 510(k) clearance from the Food and Drug Association (“FDA”) in December 2023 at which point, product sales commenced.

The accompanying financial statements are intended to reflect the results of the Company’s operations, financial position, changes in stockholders’ equity, and cash flows in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

## (2) Summary of Significant Accounting Policies

### (a) Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. Significant estimates requiring management judgment include revenue recognition, inventory valuation, and stock compensation. This process may result in actual results differing from those estimated amounts used in the preparation of the financial statements. Management considers many factors in developing these estimates and assumptions and must apply judgment in this process. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that represents its best estimate. Actual results could differ materially from those estimates.

### (b) Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of less than three months at the date of purchase to be cash equivalents.

### (c) Inventory

Inventory is stated at the lower of cost or net realizable value, using a specific identification method. The Company periodically reviews its inventory for slow-moving, damaged, or obsolete items and provides allowances to reduce such items identified to their net recoverable amounts, as necessary.

### (d) Property and Equipment

Property and equipment are stated at cost, net of depreciation, and are depreciated using the straight-line method over the estimated useful lives of the assets. Useful lives of property and equipment being depreciated are as follows:

| Computer equipment | 3 years |
| --- | --- |
| Laboratory equipment | 2-5 years |

### (e) Recoverability and Impairment of Long-Lived Assets

The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. If there is an indicator of impairment, the Company prepares an estimate of future undiscounted net cash flows

6

EndoSound, Inc.
Notes to Financial Statements
December 31, 2024 and 2023

to be derived from the use of the assets and the eventual disposition. If the carrying amount exceeds the estimate of future undiscounted cash flows, the Company then calculates the impairment as the excess of the carrying value of the asset group over the estimate of its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary and appropriate. There were no impairment charges recorded during the years ended December 31, 2024 and 2023.

## (f) Revenue Recognition

The Company accounts for revenue in accordance with Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers through the following steps:

1) Identify the contract(s) with the customer;
2) Identify the performance obligation(s) in the contract;
3) Determine the transaction price;
4) Allocate the transaction price to the performance obligation(s) in the contract; and
5) Recognize revenue when or as the Company satisfies the performance obligation(s).

The Company's performance obligations are the sale of products to customers, primarily health clinics and surgery centers. The Company satisfies the performance obligation upon shipment of the product to the customer and recognizes revenue when control of the product is transferred to the customer, generally upon shipment of the product. Shipping fees that are billed to the customers are recognized in revenue, and the costs associated with such fees are recorded in cost of revenues in the statements of operations. There were no product sales in 2023 as the Company has been developing its technology and product from inception through 2023 (see Note 1). The Company made its first product sales in 2024.

The Company has licensed intellectual property to another party for the development of future products. The Company recognized $943,000 and $1,500,000 in license revenue from this arrangement during the years ended December 31, 2024 and 2023, respectively.

## (g) Concentration Risk

The financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company maintains its cash balances in large financial institutions and generally maintains balances in accounts below the federal insurance limits.

The Company generally does not require collateral or other security to support accounts receivable. Credit risk associated with accounts receivable is periodically reviewed by management, and if required, an allowance for expected credit losses is established.

Accounts determined to be uncollectible are written off against the allowance for credit losses after all means of collection have been exhausted and the potential for recovery is remote. As of December 31, 2024 and 2023, the allowance for credit losses was $43,000 and $0, respectively.

No customers that purchase products from the Company exceeded 10% of the Company's total sales.

Purchases from two suppliers comprised 73% of total inventory purchased for the year ended December 31, 2024. Purchases from three suppliers comprised 93% of total inventory purchased for the year ended December 31, 2023.

7

EndoSound, Inc.
Notes to Financial Statements
December 31, 2024 and 2023

## (h) Research and Development Costs

Research and development costs consist primarily of prototype materials, cost of testing trials, compensation and related costs for personnel and outside consultants, and are related to the enhancement and development of the Company's products. Expenditures for research and development are expensed as incurred.

## (i) Income Taxes

Deferred tax assets and liabilities are recognized for the estimated future tax effects attributable to temporary differences between the carrying costs of assets and liabilities for income tax reporting and financial statement purposes. The Company provides a valuation allowance against net deferred tax assets unless, based upon available evidence, it is more likely than not that the deferred tax assets will be realized.

The Company recognizes and measures the tax benefit from uncertain tax positions only if it is more likely than not that the tax position will be sustained, based solely on its technical merits, with the taxing authority having full knowledge of all relevant information. The Company records liabilities for unrecognized tax benefits from uncertain tax positions as discrete tax adjustments in the first period that the more likely than not threshold is not met.

It is the Company's policy to record interest and penalties related to uncertain tax positions as a component of income tax expense.

## (j) Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with ASC 718, Compensation - Stock Compensation. This standard requires that all stock-based compensation be recognized as an expense in the financial statements and that such cost be measured at the fair value of the award. The fair value of stock options is estimated on the date of grant using the Black-Scholes option-pricing model, which requires the input of subjective assumptions, including the risk-free interest rate, expected term, expected stock price volatility, and dividend yield.

Estimated volatilities are based on the historical volatilities over the expected term of the stock options of comparable companies whose shares are publicly traded. The expected term represents the period of time the stock options are expected to be outstanding and is based on the "simplified method." Under the simplified method, the expected term of an option is presumed to be the mid-point between the vesting date and the end of the contractual term. The risk-free interest rate is based on the U.S. Treasury bond rates in effect during the corresponding period of grant with a similar contractual term as the expected term of the grant. The Company accounts for forfeitures as they occur.

The following table summarizes the assumptions used for estimating the fair value of stock options granted during the years ending December 31:

|  | 2024 | 2023 |
| --- | --- | --- |
| Weighted average expected term (years) | 5.41 | 5.72 |
| Risk-free interest rate | 3.97% - 4.35% | 4.23% - 4.25% |
| Dividend yield | 0% | 0% |
| Volatility | 44.49% - 46.50% | 79.61% - 79.65% |

8

EndoSound, Inc.
Notes to Financial Statements
December 31, 2024 and 2023

## (k) Recent Accounting Pronouncements

In December 2023, the FASB issued Accounting Standards Update ("ASU") No. 2023-09, *Income Taxes (Topic 740): Improvements to Income Tax Disclosures*. This ASU requires entities other than public business entities to provide qualitative disclosure about specific categories of reconciling items and individual jurisdictions that result in a significant difference between the statutory tax rate and the effective tax rate. The amendment also requires all entities to disclose on an annual basis the amount of income taxes paid (net of refunds received) disaggregated: (1) by federal (national), state, and foreign taxes, and (2) by individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received).

This ASU also includes certain other amendments to improve the effectiveness of income tax disclosures, such as requiring that all entities disclose the following information:

1. Income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign.
2. Income tax expense (or benefit) from continuing operations disaggregated by federal (national), state, and foreign.

The amendments are effective for annual periods beginning after December 15, 2025 with early adoption permitted for annual financial statement that have not yet been issued or made available for issuance. The Company is evaluating the implications the adoption of this standard will have on the financial statements.

## (3) Liquidity and Capital Resources

Given the current stage of the Company and the financial resources required to develop its product lines, the Company has incurred recurring losses from operations and negative operating cash flows since inception. The Company believes that its future success depends on its ability to raise additional capital financing, increasing product sales and managing expenses to generate sufficient profits and positive cash flows from operations to sustain ongoing operations. An inability by the Company to either raise additional capital financing or generate demand for its products sufficient to achieve profitability could have a material adverse impact on the Company's financial position, results of operations, and liquidity, and ultimately on its ability to continue as a going concern. Until the point at which it achieves positive cash flows, the Company is dependent on equity and debt financing to support operations which may or may not be available in the future.

The accompanying financial statements have been prepared in conformity with generally accepted accounting principles which consider continuation of the Company as a going concern. Due to the Company's significant operating and cash flow losses to date, there is substantial doubt about the Company's ability to continue as a going concern without additional capital financing. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Management believes that they have the ability to take the necessary steps to ensure the Company will continue to raise the necessary financing and ultimately achieve positive cash flow and profitability. However, there is no guarantee that such financing will be available or that profitability will be achieved or sustained or that cash flows will be sufficient to fund obligations as they come due.

9

EndoSound, Inc.
Notes to Financial Statements
December 31, 2024 and 2023

## (4) Inventory

The following table summarizes the Company's inventory balances as of December 31:

|  | 2024 | 2023 |
| --- | --- | --- |
| Raw materials | $ - | $20,985 |
| Finished goods | 235,919 | 520,456 |
|  | $235,919 | $541,441 |

## (5) Property and Equipment

Property and equipment consists of the following at December 31:

|  | 2024 | 2023 |
| --- | --- | --- |
| Computer equipment | $21,016 | $19,277 |
| Laboratory equipment | 151,322 | 143,822 |
| Devices - consigned | 74,000 | - |
|  | 246,338 | 163,099 |
| Less: Accumulated depreciation | (140,330) | (70,743) |
|  | $106,008 | $92,356 |

Depreciation expense was $69,587 and $39,590 for the years ended December 31, 2024 and 2023, respectively.

## (6) Contingencies

The Company may be periodically involved in legal proceedings and claims in the ordinary course of operations. The Company does not believe they are a party to any legal proceedings that would be expected to have a material adverse effect on the Company's financial position or results of operations.

## (7) Convertible Notes

In March 2022 and January 2023, the Board of Directors authorized the issuance of convertible promissory notes to several investors for total gross proceeds of $750,000 and $550,000, respectively, in anticipation of the closing of the Company's Series A preferred stock financing. The notes accrued interest at 8% per annum with a maturity date of December 31, 2023.

In April 2023, the outstanding convertible promissory notes and accrued interest were converted into 1,040,732 shares of Series A preferred stock and 200,718 shares of common stock.

In February 2024, the Board of Directors authorized the issuance of convertible promissory notes ("2024 Notes) with an aggregate principal amount of up to $5,000,000, which may be increased to $10,000,000. The notes bear interest at 5% per annum and have a maturity date of June 30, 2025, with all principal and interest paid at the maturity date. If a qualified financing occurs prior to the maturity date, the convertible notes automatically convert into the equity of that financing at a price per share equal to 80% of the price per share paid by the new investors. The outstanding balance was $1,375,000 in principal and $27,041 in accrued interest.

10

EndoSound, Inc.
Notes to Financial Statements
December 31, 2024 and 2023

The conversion discount associated with the 2024 Notes carries an obligation to issue a variable number of shares for a fixed monetary amount. The Company has accounted for the 2024 Notes as stock-settled debt, and is accreting the carrying amount of the 2024 Notes to the settlement amount. As of December 31, 2024, the Company has recorded $138,910 in interest expense related to the 2024 Note accretion, and is included with convertible notes payable on the accompanying balance sheet.

## (8) Equity Incentive Plan

In 2020, the Company established the Equity Incentive Plan ("2020 Plan"), as amended, which covers employees, directors, officers, consultants, agents, advisors, and independent contractors of the Company. The Company may grant shares of common stock in the form of incentive stock options, nonqualified stock options, stock awards, restricted stock, or stock units. A total of 4,491,341 shares of common stock were reserved and approved for issuance under the 2020 Plan. Options granted under the 2020 plan generally vest over a period of 12 to 48 months from the vesting commencement date, which may precede the grant date, and each option, if not exercised or forfeited, expires on the tenth anniversary of the grant date. Stock-based compensation expense for time-based stock options is recognized over the vesting term using the straight-line method. The condition for vesting of these awards is based on continued employment. As of December 31, 2024, 755,708 stock options remain available for future grant under the 2020 Plan.

Stock based compensation expense that has been included in the accompanying statements of operations amounted to $115,744 and $98,034 for the years ended December 31, 2024 and 2023, respectively. Approximately $185,000 in stock-based compensation costs related to stock options outstanding at December 31, 2024 is expected to be recognized over a weighted average period of 1.21 years subject to adjustment for forfeitures. The Company accounts for forfeitures as they occur.

The Company's stock option activity was as follows for the years ended December 31, 2024 and 2023:

|  | Options | Weighted average exercise price | Weighted average remaining contractual life (in years) |
| --- | --- | --- | --- |
| Outstanding at January 1, 2023 | 1,652,262 | $0.20 | 8.57 |
| Granted | 522,209 | 0.31 |  |
| Exercised | (1,562) | 0.30 |  |
| Forfeited | (3,438) | 0.30 |  |
| Outstanding at December 31, 2023 | 2,169,471 | 0.23 | 7.95 |
| Granted | 1,518,600 | 0.26 |  |
| Exercised | (70,312) | 0.27 |  |
| Forfeited | (48,438) | 0.31 |  |
| Outstanding at December 31, 2024 | 3,569,321 | $0.24 | 8.03 |
| Exercisable at December 31, 2024 | 1,918,750 | $0.22 | 6.99 |

The weighted average grant date fair value of options granted during the years ended December 31, 2024 and 2023 was $0.11 and $0.22, respectively. The total intrinsic value of options exercised during the years

11

# EndoSound, Inc.
## Notes to Financial Statements
## December 31, 2024 and 2023

ended December 31, 2024 and 2023 was $1,771 and $16, respectively. At December 31, 2024 and 2023, a total of 1,918,750 and 1,407,893 options were exercisable with an intrinsic value of $77,261 and $133,727, respectively. The intrinsic value is calculated as the difference between the fair value of the Company's common stock and the exercise price of the stock option.

### (9) Income Taxes

Income tax expense consists of the following for the years ended December 31:

|  | 2024 | 2023 |
| --- | --- | --- |
| Current: |  |  |
| Federal | $ - | $ - |
| State | 1,056 | 550 |
| Foreign | 94,300 | 150,000 |
| Total current tax expense | 95,356 | 150,550 |
| Deferred |  |  |
| Federal | - | - |
| State | - | - |
| Foreign | - | - |
| Total deferred tax expense | - | - |
| Total income tax expense | $95,356 | $150,550 |

The following is a reconciliation of the expected statutory federal income tax expense to actual income tax expense for the years ended December 31:

|  | 2024 | 2023 |
| --- | --- | --- |
| Tax computed at federal statutory rate | $(534,085) | $(713,916) |
| State tax, net of federal tax benefit | (7,182) | (4,480) |
| Permanent items and other | 141,900 | 50,351 |
| Research and Development Credits | - | (137,139) |
| Foreign Withholding Tax | 94,300 | 150,000 |
| Foreign Tax Credits | (94,300) | (150,000) |
| Valuation allowance | 494,723 | 955,734 |
| Total income tax expense | $95,356 | $150,550 |

# EndoSound, Inc.
## Notes to Financial Statements
## December 31, 2024 and 2023

Significant components of the Company's deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows:

|  | 2024 | 2023 |
| --- | --- | --- |
| Deferred tax assets: |  |  |
| Accrued Expenses | $41,218 | $1,487 |
| Net Operating Losses | 855,477 | 469,361 |
| Capitalized Research Expenses | 634,232 | 551,153 |
| Research Credit | - | 137,139 |
| Foreign Tax Credit | 492,404 | 398,104 |
| Nonqualified Stock Option | 61,786 | 40,911 |
| Total deferred tax assets | 2,085,117 | 1,598,155 |
| Deferred tax liabilities: |  |  |
| Fixed assets | (3,589) | (11,350) |
| Total deferred tax liabilities | (3,589) | (11,350) |
| Total Net Deferred Tax Assets | 2,081,528 | 1,586,805 |
| Less: Valuation Allowance | (2,081,528) | (1,586,805) |
| Net deferred taxes | $ - | $ - |

The Company's income tax expense recorded for the years ended December 31, 2024 and 2023 relates to minimum state income taxes and foreign withholding taxes. The Company provided a full valuation allowance on the net deferred tax asset, consisting primarily of net operating loss carryforwards and research and development tax credit, foreign tax credit and capitalized research expenses because management has not determined that it is more-likely-than-not that the Company will earn income sufficient to realize the deferred tax assets during the carryforward period. The valuation allowance increased by approximately $495,000 and $970,000 during the years ended December 31, 2024 and 2023, respectively.

As of December 31, 2024, the Company has federal, state and local net operating loss carryforwards available of approximately $3,983,000, $334,000 and $33,000 respectively, to offset future taxable income. If not utilized, state and local net operating loss carryforwards will begin to expire in 2035 and 2025, respectively. All of the federal net operating loss carry forwards indefinitely. In addition, the amount of net operating losses generated in taxable periods beginning after December 31, 2017, that the Company is permitted to deduct in any taxable year is limited to 80% of the Company's taxable income in such year, where taxable income is determined without regard to the net operating loss deduction itself. For taxable years after 2017, unused net operating losses may be carried forward indefinitely.

Utilization of net operating losses, credit carryforwards, and certain deductions may be subject to a substantial annual limitation due to ownership change limitations provided by the Internal Revenue Code of 1986, as amended, and similar state provisions. The tax benefits related to future utilization of federal and state net operating losses, tax credit carryforwards, and other deferred tax assets may be limited or lost if cumulative changes in ownership exceeds 50% within any three-year period. Additional limitations on the use of these tax attributes could occur in the event of possible disputes arising in examinations from various taxing authorities. Any net operating loss or credit carryforwards that will expire prior to utilization as a result of such limitations will be removed from deferred tax assets.

EndoSound, Inc.
Notes to Financial Statements
December 31, 2024 and 2023

The Company has recorded no uncertain tax positions related to federal and state research and development tax credits at December 31, 2024. Due to the valuation allowance recorded against the Company's deferred tax assets, none of the total unrecognized tax benefits as of December 31, 2024 would reduce the effective tax rate if recognized. At December 31, 2024, the Company has not accrued interest and penalties related to uncertain tax positions. The Company does not expect any significant increases or decreases to its unrecognized tax benefits within the next twelve months.

## (10) Stockholders' Equity

The Company's amended articles of incorporation authorize the issuance of Series Seed-1 convertible preferred stock ("Series Seed-1"), Series A convertible preferred stock ("Series A", collectively with Series Seed-1, the "Preferred Stock"), and common stock. The Series Seed-1 and Series A original issuance prices are $0.90 and $1.311, respectively.

In April 2023, the Company issued 2,857,736 shares of Series A preferred stock for total net proceeds of $3,662,642. The Company also converted outstanding convertible notes and related accrued interest to 1,040,732 shares of Series A preferred stock and 200,718 shares of common stock. See Note 7.

The rights, preferences, privileges and other matters relating to its outstanding stock are as follows:

### (a) Voting

On any matter presented to the stockholders of the Company for their action or consideration at any meeting of stockholders of the Company (or by written consent of stockholders in lieu of meeting), each holder of outstanding shares of Preferred Stock, together with the holders of common stock as a single class, shall be entitled to cast the number of votes equal to the number of whole shares of common stock into which the shares of Preferred Stock held by such holder are convertible as of the record date for determining stockholders entitled to vote on such matter. Common stockholders are entitled to one vote for each share of common stock held.

### (b) Dividends

The holders of Preferred Stock and common stock are eligible for dividends when and if declared by the Board of Directors, out of legally available funds, pro rata according to the number of shares of common stock held and Preferred Stock held on an as-converted basis.

### (c) Liquidation

In the event of any voluntary or involuntary liquidation, dissolution, or winding up of the Company or any deemed liquidation event, the holders of Preferred Stock then outstanding shall be entitled to be paid out of the available proceeds before any payment shall be made to the holders of common stock by reason of their ownership thereof, an amount per share equal to the greater of (i) the original issuance prices, plus any dividends declared but unpaid thereon, or (ii) such amount per share as would have been payable had all shares of Preferred Stock been converted into common stock immediately prior to such liquidation, dissolution, winding up or deemed liquidation event. If upon any such liquidation, dissolution or winding up of the Company or deemed liquidation event, the assets of the Company available for distribution to its stockholders shall be insufficient to pay the holders of Preferred Stock the full amount, the holders of Preferred Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full.

14

EndoSound, Inc.
Notes to Financial Statements
December 31, 2024 and 2023

After the preferential distribution to the holders of Preferred Stock, any remaining assets shall be distributed pro rata to the holders of common stock.

## (d) Conversion

Each share of Preferred Stock is convertible, at the option of the holder, at any time, and without the payment of additional consideration by the holder, into such number of fully paid and non-assessable shares of common stock as is determined by dividing the applicable original issuance prices by the applicable conversion price. As of December 31, 2024, the conversion price of Preferred Stock is equal to the original issuance prices and accordingly, the Preferred Stock converts to common stock on a one-for-one basis.

In the event of a liquidation, dissolution or winding up of the Company or a deemed liquidation event, the conversion rights shall terminate at the close of business on the last full day preceding the date fixed for the payment of any such amounts distributable on such event to the holders of Preferred Stock.

Conversion is mandatory upon one of the following events:

- the closing of a sale of shares of common stock to the public in an underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933; or,
- by vote of the majority holders of the then outstanding shares of Preferred Stock.

## (11) Employee Benefit Plan

The Company maintains a 401(k) Plan for the benefit of its employees. Employees are eligible to participate in the plan the next pay period following the date the eligibility requirements are met. The employer may make discretionary contributions. There were no discretionary contributions made during the years ended December 31, 2024 and 2023. Generally, employees can defer up to 100% of their compensation into the plan, not to exceed the maximum amount allowed by law.

## (12) Related Party Transactions

In 2024, certain executive officers and employees of the Company elected to defer a portion of their salaries. Deferred compensation at December 31, 2024 amounted to $128,332 and is reported within accrued expenses in the accompanying balance sheet.

## (13) Subsequent Events

The Company has evaluated subsequent events through June 4, 2025, the date the financial statements were available for issuance.

Under the 2024 Notes agreement (see Note 7), the Company issued six additional convertible notes totaling $440,000 between January and May 2025. These additional notes were issued to certain executive officer and existing stockholders of the Company.

15

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

Page 1 of 2

# Contact

www.linkedin.com/in/brian-tinkham-58b0329 (LinkedIn)
www.giwindows.com (Company)

# Top Skills

- Medical Devices
- Market Development
- Product Launch

# Brian Tinkham

President &amp; Chief Executive Officer at GI Windows Surgical Boston, Massachusetts, United States

# Summary

Innovating in healthcare to reduce aggregate delivery costs and extend life for patients.

# Experience

## GI Windows

13 years 6 months

## President &amp; Chief Executive Officer

August 2018 - Present (6 years 11 months)
Greater Boston Area

## Board Member

January 2012 - Present (13 years 6 months)

GI Windows is a clinical stage company developing a novel medical device, designed to change the paradigm of surgical anastomoses and bypass.

GI Windows is creating a paradigm shift to make surgery less invasive, by leveraging the natural orifice in the body.

## Algeness

### Board Member

January 2019 - Present (6 years 6 months)
Greater Boston Area

## Medtronic

Vice President, New Technologies

## FNDU Surgical, Fujifilm Corporation

### Board Member

January 2016 - December 2018 (3 years)
Boston, Massachusetts

## Medtronic

4 years 10 months

Vice President, Sales, GI Solutions &amp; Advance Ablation

August 2017 - August 2018 (1 year 1 month)

Vice President, New Technologies, GI Solutions
November 2013 - August 2017 (3 years 10 months)

Vice President of Sales, GI Solutions &amp; Advance Ablation
August 2017 - 2017 (less than a year)

Beacon Endoscopic
3 years 11 months

Board Member
January 2010 - November 2013 (3 years 11 months)
Acquired by Covidien

Co-Founder
January 2010 - November 2013 (3 years 11 months)
Acquired by Covidien

Mauna Kea Technologies
Vice President, Sales &amp; Marketing
May 2008 - January 2011 (2 years 9 months)

Boston Scientific
Global Marketing Manager
2001 - 2008 (7 years)
Sales, Marketing, Market Development

E&amp;J Gallo Winery
Marketing Manager
1995 - 2001 (6 years)
International Sales, Sales Management, Marketing Manager

---

Education

D'Amore-McKim School of Business at Northeastern University

University of Massachusetts Dartmouth

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

Page 1 of 2

# Contact

www.linkedin.com/in/josh-cohn-236b623 (LinkedIn)

## Top Skills

- Team Building
- Business Strategy
- Strategy

## Languages

- Spanish
- English

# Josh Cohn

Chief Commercial Officer
Charlotte, North Carolina, United States

## Summary

Experienced Chief Commercial Officer with a 17 year demonstrated history of working in the medical device industry. Skilled in Sales, Medical Devices, Disposables, Strategic Planning, and Business Development. Teams I have led have consistently ranked #1 in revenue, #1 in percent to plan and #1 in conversion dollars per year.

## Experience

### EndoSound

**Chief Commercial Officer (CCO)**
June 2021 - Present (4 years 1 month)
Charlotte, NC

Responsible for the implementation of a pre and post commercialization Sales and Marketing strategy, designed to ensure the integrated commercial success of the organization

### Ambu A/S

**Market Development Manager**
March 2020 - July 2021 (1 year 5 months)
Mid-Atlantic

Responsibilities include helping lead the commercialization and launch of GI divisions full line of single-use scopes. Focused on partnering with key opinion leaders, forming centers of excellence and building a presence in societies focused on GI.

### PENTAX Medical Americas

12 years 9 months

### National Sales Director

July 2018 - March 2020 (1 year 9 months)
Charlotte, North Carolina

### Regional Sales Director

August 2011 - July 2018 (7 years)
Southeast

Territory Manager
July 2007 - August 2011 (4 years 2 months)
Charlotte, North Carolina

Welcomemat Services
Marketing Account Manager
March 2005 - July 2007 (2 years 5 months)

---

Education

University of North Carolina at Charlotte
Bachelor of Science (BS), International Business (1999 - 2004)

Charlotte Catholic High School
(1996 - 1999)

Page 2 of 2

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

Page 1 of 4

Contact

www.linkedin.com/in/morris-sandler-4980493 (LinkedIn)

Top Skills

Energy

Renewable Energy

Start-ups

# Morris Sandler

Board Member

New York, New York, United States

## Summary

Morris Sandler is a successful entrepreneur, strategist, capital raiser and leader of companies. He has four decades of experience in financial services, venture capital, green energy and telecommunications.

He was instrumental in building an international telecom startup over a six-year period into a publicly traded company with a market capitalization exceeding $2 billion. He has also raised and invested $275 million in equity into 20+ start-up companies, which provided an aggregate total return of over 300% to investors.

For the last 19 years, he has focused his efforts on start-up companies in green energy, smart grid and renewables. His involvement in these sectors included Founding a $320 million Waste to Energy Project and serving as Interim CEO and Adviser for a Geothermal Energy Producer. He was also Interim Chairman of the Board of EnergyGrid Networks, Inc., a startup smart grid services Company that partners with Utility clients to design, build, operate and/or finance Smart Grid Networks; and an Adviser to Millennium Reign Energy, a startup Hydrogen Generation Company.

He has extensive international experience in building businesses and capital raising in Europe, Asia, the Middle East, and Latin America. He holds an MBA from the University of Chicago and a BA from Cornell University.

Experience

EndoSound
Board Member
February 2020 - Present (5 years 5 months)
Endosound, Inc is developing ground breaking technology to enable expanding access to endoscopic ultrasound technology around the world.

Self Employed
Serial Entrepreneur/Investor
2001 - Present (24 years)
Greater New York City Area

As Managing Partner, founded, managed and advised several private energy and telecommunications start-up ventures:
- Renewable Energy: RePlanter Energy LLC, developer of $320m Waste to Energy project in Guatemala
- Geothermal Energy: Interim CEO and advisor for a newly formed Geothermal Energy Producer that acquired prospects to produce 2,500 Megawatts of Geothermal Power
- Smart Grid: Interim Board Chairman of EnergyGrid Networks, Inc., a Smart Grid Utility Services Company that partners with Utility clients to design, build, operate and/or finance Smart Grid Networks and Former Board Member of Power Grid Communications, Inc., an unregulated investment of First Energy Corporation (NYSE: FE)
- Private Equity Fund: Structured and marketed a $300m-500m private equity fund with the objective of acquiring small and mid-sized companies to be held for the long term. Ultimately the project was funded in Europe.

Global Wireless
Chairman of the Board, CEO and Founder
1997 - 2001 (4 years)
Designed the business strategy and operated a start-up, facilities-based wireless data operator offering specialized business-to-business security applications in Latin America and Asia
- Recruited a full management team totaling over 40 employees, including senior executives from Motorola, Nextel, Booz Allen and Global TeleSystems Group, Inc.

Page 2 of 4

- Established strategic joint ventures in Argentina, Mexico, China (3 ventures), the Philippines; and Thailand with frequency allocations covering more than 250 million people
- Raised $40 million in four private equity financings
- Executed exit through a sale to the technology provider

## Global Telesystems

Co-Founder, EVP of Strategy &amp; Board Member
1990 - 1996 (6 years)

Formulated the early-stage strategy and directed initial corporate development, financing and operational activities for a high growth provider of telecommunications services, primarily in emerging Europe. Businesses included the first pan-European fiber network; the second largest and most profitable international telephony and internet services providers in Russia; the largest satellite communications and ISP networks in the former Central Europe; thirteen cellular franchises in the region; and facilitated what has become the catalyst in making the world flat by providing global telecommunications inter-connectivity via satellite to the major engineering and technology centers of India.

- Established and/or acquired 20+ separate ventures in Europe, the former Soviet Union and Asia, generating $250+ million in revenue, 1,200+ employees. Achieved a public market cap exceeding $2 billion in less than 6 years
- Recruited the senior management team and led a series of private equity financings and a public offering that together raised over $230 million

## Alan B. Slifka &amp; Co. Halcyon Partnerships

Senior Principal
1984 - 1990 (6 years)
Greater New York City Area

Responsible for financial operations and marketing activities of this money management firm specializing in corporate-event investing and distressed securities. Conceived and marketed the firm's initial offshore partnership interests through an affiliation with a global money center bank, doubling the firm's funds and providing the foundation for growth to over $1 billion.

## Griffis Sandler &amp; Company

Partner
1984 - 1990 (6 years)
Stamford, CT

Page 3 of 4

Co-founded a private merchant banking and strategic development firm focused on funding and adding value to start-up companies through the hands-on involvement of its partners. Portfolio companies included:

- A financial services company serving the healthcare industry (exit through sale to equity investor)
- A mobile hazardous waste incineration company (exit to NYSE company)

Served as sole advisor to the Royal Canadian Mint for the worldwide distribution of Canada® Maple Leaf® gold bullion coin. Canada's unique precious metal investment product.

## Goldman Sachs

J. Aron
1976 - 1984 (8 years)

Vice President - Director of Marketing for the J. Aron Division (1981-1984)
J. Aron &amp; Company, Vice President - Director of Investment Marketing (1976-1981)

Led the global product development, marketing and trading of complex precious metals-related financial products sold to governments, institutions, and high net worth clients worldwide.

- Conceived and executed a plan to have the U.S. Mint introduce a U.S gold bullion coin program and led the successful negotiation of the single largest commercial transaction in the history of the U.S. Mint ($1.4 billion)
- Managed the firm's Futures Commission-Merchant activities
- Conceived and implemented the creation of a politically neutral gold investment product; convinced the Canadian Government to produce and market the "Gold Maple Leaf", an official legal-tender gold bullion coin. This coin has become the leading global gold bullion investment vehicle, generating billions of dollars in revenue and foreign exchange and hundreds of new jobs in Canada

## Education

Cornell University
BA, Economics

The University of Chicago Booth School of Business
MBA, Finance &amp; Marketing

Page 4 of 4

**Attachment 9:** `document_9.pdf`

Page 1 of 3

Contact

www.linkedin.com/in/nicholas-puro-ba49542a (LinkedIn)

Top Skills

Mergers

Venture Capital

Portfolio Management

# Nicholas Puro

Investor, Board Member and C-Suite Executive

North Miami Beach, Florida, United States

# Summary

Private Equity Experience

Mr. Puro is CEO of BNM Bank Corp and a partner at MidAtlantic Fund, a private equity investor and family office. Venture Partner at GEO MedTech Venture Fund, a medtech venture investor. Previously, Mr. Puro was a partner in the Edelson Funds, a series of private equity funds investing in early-stage companies for 10 major corporate limited partners including 3M, AT&amp;T, Colgate-Palmolive, Imation, Ford Motor, Reed Elsevier, UPS, and Viacom. Portfolio companies operated businesses in computer software and hardware, telecom, internet, biotech, medical devices, alternative energy, outsourcing, education systems and entertainment. 10 of the Funds' portfolio companies each reached market capitalization of between $1 billion and $60 billion in the public markets. In total, 30+ portfolio companies completed IPOs including Blackboard, Celgene, Chinadotcom, Global Pharmaceuticals, NeuroMedical Systems, Oxford GlycoSciences, Oxford Molecular, and Websense. 30+ more portfolio companies were successfully sold to companies including 3M, Applied Digital Sciences, Cable &amp; Wireless, Cincinnati Bell, Kodak, HERA (Hydro-Quebec/Shell JV), Viacom, Jostens, Mallinckrodt, and W.R. Grace.

# Entrepreneurial Experience

CEO of Techderm, a cosmetic device company, and of Periotech, a periodontal device company, CFO and Chief Strategy Officer of Propel Orthodontics, a medical device company (purchased by Dentsply Sirona). President of medical device manufacturer, Temptime Corp. (purchased by Zebra Technologies), President of China Opportunity Acquisition Corp. a special purpose acquisition company that successfully acquired a major specialty steel company in China in March 2009, CFO and Chief Strategy Officer of Sndr, a secure enterprise communication and file sharing platform that protects information and data from internal and external threats, President, COO and CFO, MultiVir Inc., a clinical stage tumor suppressor immunotherapy company focused on oncology and a

member of the board of directors of InMarket Solution, a marketing company and TnA Therapeutics, a clinical stage drug development company.

## Legal Experience

Prior to commencing his career in venture capital, Mr. Puro was a leading venture capital attorney performing transactional work for many of the largest and respected venture capital funds on the East Coast.

## Experience

**BNM Bank Corp**
Chief Executive Officer
January 2024 - Present (1 year 6 months)
Cayman Islands

**MidAtlantic Fund**
Partner
November 2012 - Present (12 years 8 months)
Greater New York City Area

**Geo MedTech Ventures**
Venture Partner
January 2023 - Present (2 years 6 months)
Luxembourg

**MultiVir Inc.**
President, Chief Operating Officer and Chief Financial Officer
January 2014 - June 2020 (6 years 6 months)
MultiVir is a leading clinical stage tumor suppressor immunotherapy company focused on viral gene therapies for oncology.

**CRN Wireless**
CEO
February 2012 - February 2013 (1 year 1 month)

**Blackboard**
Investor
2000 - 2011 (11 years)

Page 2 of 3

Page 3 of 3

## TEMPTIME Corporation

**President**
August 2005 - October 2010 (5 years 3 months)
Morris Plains, NJ

Medical device manufacturer

## Edelson Funds

**Partner**
September 1996 - June 2008 (11 years 10 months)
New York, New York, United States

Series of 5 venture capital investment funds with over 100 investments in life sciences and technology

## Education

Fordham University School of Law
JD

Seton Hall University
BS, Accounting

**Attachment 10:** `document_10.pdf`

Page 1 of 4

Contact

www.linkedin.com/in/paul-henwood-78a3424 (LinkedIn)

Top Skills

Product Marketing

Competitive Analysis

Manufacturing

# Paul Henwood

Specializing in growing early- and mid-stage technology companies
Redmond, Washington, United States

## Summary

Paul is an experienced technology leader who grows early- or mid-stage companies to maximum success. He creates balanced value for all stakeholders including customers, owners, employees, suppliers, the community and the environment. He believes that the best success is achieved when all pull together and coalesce into a complementary ecosystem. While achieving this dynamic can be more challenging, it ultimately builds lasting value that all involved recognize and thus become more motivated and committed together, resulting in the highest shareholder value.

Paul specializes in assembling highly competent and effective teams tailored to the needs of the enterprise. There is no more important element or predictor in a company's success than the quality of the team that drives it, and Paul is especially skilled in this area and understands and acts on that premise.

Paul has systematically built expertise in all the areas of technology business, starting as a young engineer with hands-on experience in manufacturing and engineering with complex medical devices. He transitioned into technical management in a variety of startups in increasing roles of Operations management before shifting to a technical sales and marketing role for Metron, a laser metrology firm. This firm was also his first transition into a CEO role, which led to the recent President &amp; CEO position with MicroConnex. This experience developed deep functional awareness of how technology companies operate and the skills to guide them to success, which he used extremely effectively in the successful company sale to a strategic buyer.

He actively mentors others in the community and supports their professional and personal growth. He is the proud father of two teenage girls and keeps quite active in the outdoors every chance he gets, including cycling and hiking, and enjoying horseback riding with their three horses.

Page 2 of 4

# Experience

## EndoSound
Chief Operating Officer
September 2022 - Present (2 years 10 months)
Portland, Oregon

## Whooshh Innovations
Chief Product Officer
October 2020 - May 2022 (1 year 8 months)
Seattle, Washington, United States

## Carlisle Interconnect Technologies
Director, MicroConnex
April 2019 - July 2020 (1 year 4 months)
Snoqualmie, Washington, United States

## MicroConnex
President &amp; CEO
August 2010 - April 2019 (8 years 9 months)
MicroConnex is a specialty Flexible Printed Circuit Board manufacturer and Laser Micromachining and thin film deposition services provider that had languished despite significant industry demand. Paul addressed numerous fundamental issues, recruited a highly skilled management and technical staff, modernized most business and technical processes, implemented robust quality systems and attracted significant leading customers. He grew the staff from 30 to about 80 people, increased revenue 5x with an 8-year CAGR of 24%. Paul led a process of selling the company with a specialty investment banker culminating in a successful liquidity event to a strategic buyer for a high EBITDA multiple in 2019, and stayed with the company through the transition.

## Metron Systems, Inc.
President &amp; CEO
August 2008 - July 2010 (2 years)

## Metron Systems Inc.
VP Sales and Marketing
April 2006 - July 2008 (2 years 4 months)
Successfully sold $2.5M in non-contact 3D Laser Scanning Metrology systems

Page 3 of 4

## Bally Gaming Systems

### Director of Manufacturing

2003 - 2006 (3 years)

- Manufactured $2M of optical MP21 Blackjack and Baccarat Systems
- Established 3rd party high-volume automated casino chip manufacturing

## Harris Corporation

### Director of Manufacturing

1999 - 2002 (3 years)

- Manufactured $2M of early production Point-To-Multipoint 40Ghz communication systems
- Managed multi-site Test Engineering group for Point-to-Point digital microwave radio links for cell tower back-haul and Point-to-Multipoint broadband wireless systems

## Inroad, Inc.

### Director Of Manufacturing

1998 - 1999 (1 year)

Seattle, Washington, United States

Created and managed manufacturing for wearable voice-activated thin-client computer for warehouse picking applications. Directed consultant engineering staff at Stratos Product Development and managed contract manufacturer Solectron.

## CacheFlow, Inc. (Now BlueCoat Systems, Inc.)

### Manufacturing Manager

1997 - 1998 (1 year)

- Managed manufacturing for an Internet Appliance start-up company and relocated operations to Palo Alto

## Virtual I/O

### Production Manager

1994 - 1997 (3 years)

- Manufactured $20M of virtual reality goggles, managed staff of 140 for three-shift operations

## Siemens Medical Systems, Ultrasound Group

### Transducer/Manufacturing Test Engineer

1984 - 1994 (10 years)

Page 4 of 4

# Education

University of Washington

Bachelor's degree, Electrical and Electronics Engineering (1983 - 1986)

**Attachment 11:** `document_11.pdf`

Page 1 of 5

# Contact

www.linkedin.com/in/scottaldrichjr (LinkedIn)

## Top Skills

- Multi-site Teams
- Leadership
- Operational Planning

# Scott Aldrich Jr.

Chief Executive Officer @ EndoSound | Medical Device Strategy, Commercialization

North Reading, Massachusetts, United States

## Summary

A Medical Device executive leader, Mr. Aldrich has significant commercial and operations experience, having launched and sold many advanced and disruptive products in both the US and international markets. He has a proven track record of commercial success, specifically in leading marketing, operations, sales and strategy functions.

## Experience

### EndoSound

**Chief Executive Officer**

February 2024 - Present (1 year 5 months)

Portland, Oregon, United States

- Board-appointed CEO driving transformation from R&amp;D to full commercialization
- Secured $1.8M in Bridge/Series B funding, leading all investor relations and presentations
- Developed and executed strategic business plans aligned with mission, funding, and market opportunity, driving product development resulting in two FDA clearances and four new product launches
- Built and scaled a high-performing commercial organization with a data-driven go-to-market strategy, while optimizing third-party logistics and manufacturing for quality, compliance, and efficiency
- Defined company vision, mission, and strategic goals, implementing a company-wide MBO process and revitalizing company culture to foster teamwork, communication, execution, and data-driven results
- Restructured communication and meeting cadence for significantly improved project management efficiency, and successfully executed retrenchment strategies, preserving capital and extending runway through strategic financing

### Independent Consultant

Medical Device Strategy, Commercialization, Operations, Leadership Consultant

June 2023 - February 2024 (9 months)
Boston, Massachusetts, United States

## Motus GI Holdings, Inc.
3 years 11 months

## Vice President, Commercial &amp; Strategy
January 2023 - July 2023 (7 months)
Boston, Massachusetts, United States / Hefa, Israel

Led enterprise-wide commercial transformation, integrating sales leadership with marketing strategy initiatives

## Vice President, Global Marketing &amp; Strategy
September 2019 - January 2023 (3 years 5 months)
Boston, Massachusetts, United States

Motus GI, (NASDAQ: MOTS) is a medical technology company, with subsidiaries in the U.S. and Israel, dedicated to improving clinical outcomes and enhancing the cost-efficiency of colonoscopy.

- Assisted in raise of $22M in strategic financing, actively managing investor relations
- Scaled next-gen platform commercially, driving turnaround and securing four FDA clearances, CE Mark, and EU MDR
- Built a 25-hospital US customer base within nine months
- Spearheaded corporate and product rebranding, shifting to a commercial focus
- Led annual company-wide objective setting and prioritization
- Co-created 1- and 3-year strategic vision with others in Executive Leadership Team
- Developed M&amp;A/partnership criteria, leading assessments and engagements
- Navigated pandemic market challenges to inform US strategies
- Fostered global team collaboration with the Israel team

## Dutch Ophthalmic USA
Director of Marketing
July 2018 - September 2019 (1 year 3 months)
Exeter, New Hampshire

Director of Marketing for Dutch Ophthalmic US, where Scott was responsible for marketing and operations for their (~$40m revenue) ophthalmic surgery portfolio of products.

-Drove $40M revenue, aligning sales, marketing, and operations, restructuring teams for new revenue
-Developed/executed all traditional marketing (launches, messaging, collateral, analysis, tools) and launched digital leads
-Achieved 17% revenue growth in five months via cross-selling, realignment, and service contracts
-Implemented sales analytics, forecasting, and pipeline management, improving company culture via planning and communication
-Increased dye GPM by 11% via branding/pricing, launching inside sales and ensuring compliance

## Mauna Kea Technologies
3 years 4 months

### Director of Marketing &amp; Customer Experience
August 2017 - June 2018 (11 months)
Boston, MA / Paris, France

Director of Marketing at Mauna Kea Technologies (EPA: MKEA), creator of the Cellvizio® system, a breakthrough imaging technology changing the way gastroenterologists diagnose and treat cancer and other diseases. Scott was responsible for developing and leading the company's Marketing vision and strategy. In this roles he managed a team internationally and domestically.

- Led global marketing strategy and execution across US and France teams
- Drove global expansion into multiple cancer specialties, beyond Upper GI focus
- Secured favorable reimbursement through coding, coverage, and advocacy
- Collaborated with Gastroenterology Tri-Society on reimbursement initiatives
- Spearheaded key operational projects: analytics, compensation, pricing, agile marketing, and VOC
- Empowered sales team through comprehensive medical education (CME) programs
- Cultivated and leveraged KOL relationships for education, research, &amp; clinical studies
- Directed all marketing communications: collateral, website, PR, and social media

## Head of Product Management
March 2015 - July 2017 (2 years 5 months)
Boston, MA / Paris, France

Page 3 of 5

As Head of Product Management Scott oversaw all product lifecycle management of clinical portfolio globally with registration in 40 countries. He drove customer-focused innovation for the Cellvizio system while also leading downstream marketing efforts and market expansion initiatives.

- Globally managed clinical portfolio lifecycle across 40 countries
- Established Sales Advisory Board &amp; Indication Review Committee for R&amp;D strategy
- Led global innovation and R&amp;D strategy
- Transformed sales to consignment model, boosting consumption, ASP (15%), and GPM (6%)
- Drove 100+ clinical publications in FY2015
- Penetrated new surgical market, generating ~$500K in revenue
- Soft-launched Cellvizio F800 for research and surgical indications
- Secured improved reimbursement coverage from CMS and private payers

## Pentax Medical Company
7 years 9 months

## Product Manager, Americas - Advanced Imaging
November 2011 - February 2015 (3 years 4 months)
Montvale, NJ / Boston, MA

As Product Manager, Americas - Advanced Imaging franchise, Scott was in charge of the Product Marketing for all endoscopic ultrasound, confocal endomicroscopy, pulmonary and urology franchise products across Americas. This included forecasting, new product launch, promotions, and line rationalization.

## Territory Manager
June 2007 - November 2011 (4 years 6 months)
Mid-Atlantic / New England

As a Territory Manager, Scott was responsible for dollar volume sales of flexible endoscopes, service contracts, and lab software to gastroenterologists, pulmonologists, anesthesiologists, otolaryngologists, urologists, and general surgeons. He held territories in New England, as well as, the mid-Atlantic and showed the ability to attain revenue objectives by hitting goals each year.

## Anheuser-Busch
Contemporary Marketing Team
September 2006 - June 2007 (10 months)

Page 4 of 5

Shasta Partners
Investment Banking Associate
October 2005 - September 2006 (1 year)

---

## Education

Amherst College
BA, Psychology (2001 - 2005)

Belmont Hill School
(1994 - 2001)

Page 5 of 5

**Attachment 12:** `document_12.pdf`

Page 1 of 2

# Contact

www.linkedin.com/in/scott-corbett-4b72585 (LinkedIn)

## Top Skills

- Startups
- Medical Devices
- Ultrasound

## Languages

- German

# Scott Corbett

CTO, Biomedical Entrepreneur
Portland, Oregon, United States

## Summary

- Forty year history in the biomedical engineering field.
- Senior executive as President or VP of small startups.
- Co-founder of multiple biomedical companies in the Seattle and Portland area.
- Technical expertise in acoustics, medical ultrasound, sensors, electrical/mechanical packaging and interconnect technology.
- Experience with strategic planning, patent creation, management and technical due-diligence.
- Experience leading technology and product development teams.
- Intuitive manager with excellent people and communication skills.
- Inventor or co-inventor of over 20 patents in medical device, sensor, micromachining and electronic interconnect arenas.

Specialties: Medical Devices, Ultrasound, laser technology, cochlear implants, patents, technical and corporate management

## Experience

### EndoSound

Chief Technology Officer
March 2018 - Present (7 years 4 months)
Portland, Oregon

### MicroConnex

Owner/Co-Founder
1994 - April 2019 (25 years)

MicroConnex manufactures flex circuit interconnect devices used in a wide variety of electronic devices including medical equipment, computers, military and hand-held.

### Sonivate Medical

Chief Technology Officer
2007 - March 2018 (11 years)
Beaverton, Oregon

Sonivate Medical is developing a finger worn ultrasound probe. The probe solves existing ergonomic problems of traditional probes, is easier to learn to use and operate and opens up new uses for ultrasound. We plan on having our first product in the market by first quarter 2013.

## Advanced Cochlear Systems

### President and CEO

1995 - 2006 (11 years)

Advanced Cochlear worked on developing a new cochlear implant technology. We funded through NIH and through private investors. We have wound down the development effort and are looking to license or partner with implant manufacturers.

## PI Medical

### President

1992 - 1994 (2 years)

PI Medical was the precursor to MicroHelix, which is now owned by St. Jude Medical. We development interconnect systems for neuroprosthetic devices and were heavily funded by the NIH.

## Education

### Penn State University

M.S., Acoustics · (1979 - 1982)

### Occidental College

B.A., Physics · (1973 - 1977)

Page 2 of 2

**Attachment 13:** `document_13.pdf`

Page 1 of 1

Contact

www.linkedin.com/in/stephen-steinberg-ba821420 (LinkedIn)

# Stephen Steinberg

Director Center for Advanced Therapeutic Endoscopy, Boca Regional Hospital

Boca Raton, Florida, United States

# Experience

Boca Raton Regional Hospital

Director, Center for Advanced Therapeutic Endoscopy (CATE), Boca Raton Florida

October 2011 - Present (13 years 9 months)

Boca Raton, Florida, United States

**Attachment 14:** `document_14.pdf`

Page 1 of 8

# Contact

www.linkedin.com/in/bill-rhodes-7a32451 (LinkedIn)

# Top Skills

- Biotechnology
- Medical Devices
- Lifesciences

# Languages

- German (Limited Working)
- English (Native or Bilingual)

# Patents

- Glycine Toxicants
- Higher Alcohol Toxicants Effective Against Insects
- Polyoxyethelene Derivatives as Antipruritic Ectoparasiticide
- Alkanol Amide Toxicants
- Polyoxyethylene Derivatives as Antipruritic Ectoparasiticide

# Bill Rhodes

Chair Of The Board Of Directors at Nodexus, Inc. and Chair Of The Board Of Directors at GENincode plc
Bonita Springs, Florida, United States

# Summary

I retired from Becton Dickinson and Co., a global medical device company, as an Executive Officer and Worldwide President of BD Biosciences, a US$1.4 billion division with 3000 associates. I provide corporate advisory services and sit on the Boards of both public and private medical and healthcare companies in the US, Germany, The Netherlands, Belgium and the UK.

I also work closely with my alma mater, Cornell University, and the Weill Cornell Medical College (now Weill Cornell Medicine), as a Clinical Instructor and Senior Executive in Residence.

I have led and managed diverse teams of senior executives to achieve outstanding revenue and earnings growth in highly competitive markets, am skilled in understanding complex scientific technologies used in clinical diagnostics, medical devices and life sciences research, and have successfully valued, structured, negotiated and closed numerous large and small mergers, acquisitions and divestitures.

# Experience

GEN inCode Predictive Genetics
Chairman Of The Board
December 2020 - Present (4 years 7 months)
Oxford, England, United Kingdom

GEN inCode (LSE: GENI) products combine genetic and clinical data to assess patient risk and provide healthcare practitioners with advanced clinical information to evaluate and predict the onset of cardiovascular disease. These products help inform patients of their health risk enabling them to make behavioral or 'lifestyle' changes while providing doctors with greater genetic insight and clinical information to determine the most effective treatment pathway (precision medicine). GEN inCode's molecular tests combine

clinical algorithms and artificial intelligence to provide advanced patient risk assessment to predict disease onset.

## Nodexus Inc.

### Chairman of the Board

November 2021 - Present (3 years 8 months)
San Jose, California, United States

Nodexus offers enabling tools to detect, characterize, and dispense single cells of interest from complex heterogeneous samples into multiple microtiter well-plate formats up to and including 384 well plates. The company is commercializing the NX OneTM, an integrated, “one-click” platform that is the highest-efficiency, lowest-cost integrated benchtop system for single-cell analysis, sorting, and dispensing. This patented technology makes single-cell isolation widely adoptable for any lab performing bioprocessing, gene editing, cancer biology workflows, and more.

## Inso Biosciences

### Member Board of Directors

December 2024 - Present (7 months)
Ithaca, New York, United States

Inso Bio’s vision is to democratize biology and genomics by offering unique and innovative tools that can bring low-cost workflow automation to every lab. The company’s microfluidic pillar-based cartridges and associated instrumentation will help create a future of faster turnarounds performed on smaller machines, ultimately helping clinicians and scientists realize the full potential of genomics right at their fingertips.

## EndoSound

### Member Board of Directors

January 2023 - Present (2 years 6 months)
Portland, Oregon, United States

EndoSound, Inc., is a privately-held company based in Portland, Oregon with additional offices in Boca Raton, Florida. EndoSound is dedicated to expanding access to endoscopic ultrasound technology around the world. With its patented design, EndoSound transforms any flexible upper endoscope into a fully functional EUS scope.

## Third Day Advisors LLC

### Managing Partner

January 2013 - Present (12 years 6 months)
Bonita Springs, Florida

Page 2 of 8

Page 3 of 8

Third Day Advisors LLC was formed to provide advisory services to healthcare and life sciences companies in the areas of corporate M&amp;A and strategy development.

## Cornell University

12 years 5 months

## Senior Executive in Residence

February 2013 - Present (12 years 5 months)

Ithaca, New York and Manhattan, New York campuses

As SEIR, I support Cornell University's McGovern Family Center for Venture Development in Life Sciences to identify technologies under development at both the Ithaca and Weill Cornell Medical College campuses that can be targeted for spin-out and incubation. I mentor the entrepreneurs leading these new ventures, and help them to secure venture and angel financing.

## Venture Consultant, Blackstone LaunchPad

May 2016 - September 2018 (2 years 5 months)

Ithaca, New York Area

I worked with Entrepreneurship at Cornell and the Blackstone LaunchPad, to mentor and advise Cornell undergraduate and graduate students interested in forming new business ventures.

## Weill Cornell Medicine

### Clinical Instructor

September 2013 - Present (11 years 10 months)

Manhattan, New York

I was appointed a Clinical Instructor at Weill Cornell Medicine, in the Department of Healthcare Policy and Research. The Department is committed to advancing scholarly research, strengthening medical education, and improving healthcare to the community, while helping to increase the efficiency and effectiveness of our medical system. I will work with faculty to develop new programs and relationships with medical device and diagnostics companies who require objective analyses of the comparative cost effectiveness and economic benefit of their new and contemplated products.

## Cayuga Venture Fund

### Advisory Board member

January 2013 - Present (12 years 6 months)

Ithaca, New York

I serve on the Advisory Board of Cayuga Venture Fund, based in Ithaca, New York. Since 1994, CVF has been working to create and establish a thriving

community of leading edge, high tech start-up companies in Ithaca and upstate New York by providing the necessary capital and other resources they need to grow and prosper.

## OncoDNA

### Member Board Of Directors

July 2021 - July 2024 (3 years 1 month)
Frasnes-lez-Gosselies, Walloon Region, Belgium

OncoDNA is a genomic and theranostic company specializing in precision medicine for the treatment of cancer and genetic diseases. The Group offers a unique portfolio that combines NGS services, biomarker testing, data interpretation software, and clinical decision support tools. OncoDNA is headquartered in Belgium, and its entities - Biosequence and IntegraGen - are based in Spain, France and the United States.

## OpGen, Inc.

### Chairman Of The Board

April 2020 - April 2024 (4 years 1 month)
Gaithersburg, Maryland and Holzgerlingen, Germany

OpGen, Inc. (NASDAQ: OPGN) is harnessing the power of bioinformatics and genomic analysis to provide complete solutions for infection prevention and treatment. Merging on April 1, 2020 with Curetis NV (EURONEXT: CURE), where I had been the Chairman of the Supervisory Board from 2015, OpGen is now well positioned to become a world leader in multiplexed molecular infectious disease diagnostics. In addition, with the combination of the Acuitas Lighthouse® Knowledgebase and the Ares Genetics curated database of AMR markers (the world's largest), we are developing disruptive technologies aimed to shift the paradigm for diagnosing and managing infectious diseases.

## Altaris Capital Partners, LLC

### Operating Partner

January 2017 - December 2023 (7 years)
Greater New York City Area

As an Operating Partner and member of their Operating Network, I worked together with the Altaris Capital Partners principals to source, evaluate, acquire and build companies in the life sciences and IVD spaces.

## CytoSMART Technologies B.V.

### Chairman Of The Supervisory Board

May 2020 - March 2022 (1 year 11 months)
Eindhoven, North Brabant, Netherlands

Page 4 of 8

CytoSMART is an innovator in kinetic live-cell imaging. Combining compact and fast imaging hardware with powerful image analysis algorithms supported by cloud computing. Automation in time-lapse microscopy and image based cell counting to generate high-quality and robust data. The company was acquired by Axios Biosystems in March, 2022.

## Omega Diagnostics Group

### Non Executive Director

March 2013 - February 2022 (9 years)

Alva, Scotland

I joined the Board of Omega Diagnostics plc (LSE: ODX) in 2013 as a Non Executive Director. From 2018 through 2021 I served as Interim Chairman. Upon finding a permanent Chair in February 2021, I stepped back into my NED role, and in 2022 retired from the Board after 9 years of service. Omega is a dynamic, leading AIM-listed publicly traded diagnostics company with products for food intolerance assessment and infectious diseases diagnostics, and has developed, together with Australia's Burnet Institute, a handheld, simple and robust test for CD4 testing in AIDS patients.

## Paramit Corporation

### Board Member

September 2014 - August 2021 (7 years)

Morgan Hill, California

Paramit is a leading, FDA-registered contract manufacturer of complex medical devices and research instruments, committed to serving medical device and life science instrument manufacturers. The company was acquired by Tecan in August, 2021 for US $1 billion.

## Curetis Group

### Chairman of the Supervisory Board

November 2015 - April 2020 (4 years 6 months)

Amsterdam Area, Netherlands

Curetis NV (EURONEXT: CURE) is the parent company of Holzgerlingen, Germany-based Curetis AG and Vienna, Austria-based Ares Genetics. Curetis is a young, dynamic molecular diagnostics company with a fast, highly multiplexed sample to answer laboratory instrument solution, the Unyvero system, for the diagnosis of infectious disease and improved use of antibiotics. This technology can be used with all sample types, from tissue to blood. Ares Genetics has the world's most comprehensive curated database of AMR gene

Page 5 of 8

markers and uses NGS and AI to improve infectious disease diagnosis and antibiotic management.

## Linden Capital Partners
### Operating Partner
January 2013 - April 2016 (3 years 4 months)
Greater Chicago Area

Linden Capital is a leading private equity firm focused on leveraged acquisitions in the healthcare sector. I was the Operating Partner responsible for working with the Linden team of specialists to source opportunities in life sciences and diagnostics.

## BD
14 years 4 months

### Senior Vice President, Corporate Strategy and Development, Executive Officer
September 2011 - January 2013 (1 year 5 months)
Franklin Lakes, New Jersey

I was BD's SVP Corporate Strategy and Development, responsible for the creation of business and market strategies enabling company-wide growth; I also led all aspects of global M&amp;A activities. At that time BD was an US$8 billion world leader in medical devices, diagnostics and life sciences products.

### Worldwide President, BD Biosciences
January 2009 - September 2011 (2 years 9 months)
Franklin Lakes, New Jersey

I was the Worldwide President, BD Biosciences, which is one of the three business segments that comprise Becton Dickinson. The segment had revenues in 2010 of US$1.35 billion, with about 3000 associates around the world.

## President
October 2003 - December 2008 (5 years 3 months)
San Jose, California

BDB Cell Analysis is the largest business unit of BD Biosciences. with principal locations in San Jose and San Diego, California. It is the world's leading developer and supplier of flow cytometry-based life sciences research and clinical instrumentation and reagents, with sales in excess of US$1.0 billion and over 1500 employees worldwide.

### Vice President Business Development
October 1998 - October 2003 (5 years 1 month)
Page 6 of 8

Franklin Lakes, New Jersey

I led BD's business development function, responsible for managing the corporate venture capital fund, BD Ventures, as well as all M&amp;A activity, from target identification through deal closing, including both acquisitions and divestitures.

## Pfizer Medical Technologies Group

Corporate Director, Business Development and Technology Assessment

1993 - 1998 (5 years)

Directed merger and acquisition activity and new technology licensing for medical device division of Pfizer

## William-James Company

President

January 1984 - June 1993 (9 years 6 months)

Westfield, New Jersey

Biomedical consulting company serving biotech, pharma, medical diagnostic and device industries

## Becton Dickinson

Corporate Manager, Immunotechnology

1980 - 1983 (3 years)

Paramus, New Jersey

I was responsible for creating the business plan for a new clinical business unit, as well as the identification and licensing of novel monoclonal antibody reagents to be developed, marketed and sold by that business.

## Ortho Pharmaceuticals

Manager, Biological Development

1977 - 1980 (3 years)

Raritan, New Jersey

Responsible for launching series of novel anti-T cell antigen monoclonal antibodies for in vitro research use; wrote IND and managed clinical trials for new monoclonal anti-T cell antibody for treating acute T cell mediated renal rejection

## Reed and Carnrick Pharmaceuticals

Laboratory Manager, Medical Entomology

1975 - 1977 (2 years)

Kenilworth, New Jersey

Page 7 of 8

Developed only large-scale lab culture system in the US for maintaining human body lice and scabies, and used these to develop novel model systems for testing new compounds as human ectoparasiticides.

---

## Education

**Cornell University**

BS, Entomology · (September 1972 - June 1975)

**Seton Hall University**

MS International Business, Business · (1994 - 1996)

Page 8 of 8

**Attachment 15:** `document_15.pdf`

EndoSound

# Revolutionizing Endoscopic Ultrasound in Ambulatory Surgical Centers: The EVSTM Advantage

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

Stuart Akerman, MD
Gastroenterologist
Digestive Health Centers
Plano, TX

Endoscopic ultrasound (EUS) has long been a valuable diagnostic and therapeutic tool in gastroenterology, traditionally confined to hospital settings due to high costs and technical requirements. This white paper introduces the

EndoSound Vision SystemTM (EVSTM), a groundbreaking solution that makes EUS accessible and profitable for Ambulatory Surgical Centers (ASCs) and smaller hospitals. By addressing traditional barriers to EUS adoption in outpatient settings, EVS is poised to transform the landscape of advanced endoscopy, improving patient care, physician satisfaction, and ASC profitability.

# Background: EUS in Gastroenterology

Endoscopic ultrasound (EUS) has been a cornerstone of advanced gastroenterology for over three decades. This hybrid technique combines endoscopy with high-frequency ultrasound, allowing for detailed imaging of the gastrointestinal tract and adjacent structures. EUS has proven invaluable for:

- Diagnosis and staging of gastrointestinal cancers
- Evaluation of submucosal lesions
- Assessment of pancreaticobiliary disorders
- Guided fine-needle aspiration (FNA) and biopsy procedures
- Therapeutic interventions such as pseudocyst drainage and celiac plexus neurolysis

Despite its clinical utility, EUS has primarily been confined to hospital-based settings due to several limiting factors.

EndoSound

# Traditional Barriers to EUS in ASCs

Historically, several factors have prevented the widespread adoption of EUS in the ASC:

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

High Capital Costs: Traditional EUS systems require substantial upfront investment, often exceeding $200,000 for the ultrasound hardware alone.

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

Additional Scope Requirements: Conventional EUS systems necessitate the purchase of specialized echoendoscopes, which can cost over $80,000 each. This represents a significant additional expense beyond the ultrasound hardware.

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

Extensive Training: The complexity of traditional EUS systems demands extensive training for endoscopy technicians, increasing operational costs and potential scheduling difficulties

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

Space Constraints: Many ASCs lack the physical space to accommodate bulky EUS equipment, limiting their ability to offer this service.

These barriers have effectively relegated EUS to larger hospital settings, limiting access for patients and potentially increasing healthcare costs.

# The EVS Solution

The EVS represents a paradigm shift in EUS technology, specifically designed to overcome the traditional barriers to ASC adoption. Key advantages include:

1. Low Capital Cost: The EVS is offered at a fraction of the cost of traditional EUS systems, making it accessible to a wider range of healthcare providers.
2. Compatibility with Existing Endoscopes: Unlike traditional systems, EVS works with standard endoscopes already in use at ASCs. This eliminates the need for additional expensive echoendoscopes, allowing for immediate implementation regardless of the current scope vendor.

EndoSound

3. High-Quality Imaging: Despite its cost-effectiveness, EVS provides high-resolution ultrasound images comparable to those produced by many traditional systems.
4. Minimal Additional Training: The system's user-friendly interface and compatibility with existing endoscopes minimize the learning curve for endoscopy technicians.

Compact Design: The EVS's small footprint allows for easy integration into existing ASC environments without requiring additional space. Additionally, it can be easily moved between rooms and can potentially be shared across facilities due to its compact size.

# Financial Benefits for ASCs

Implementing the EVS can drive significant financial benefits for ASCs:

1. Expanded Procedure Offerings: ASCs can now offer EUS procedures, attracting new patients and retaining existing ones who would otherwise be referred to hospitals.
2. Increased Revenue: EUS procedures are reimbursed at the higher end of the EGD CPT code table, providing a new revenue stream for ASCs.
3. Improved Utilization: The addition of EUS can help optimize underutilized ASC capacity, increasing overall procedure volume and profitability. As the EVS works directly with your existing equipment, setup and room turnover is minimal, allowing EUS exams to be performed within the standard block schedule without delay.

Physician Satisfaction: By enabling gastroenterologists to perform advanced procedures in the ASC setting, the EVS can improve physician satisfaction and potentially attract new practitioners to the facility. Existing physicians may find the need for increased block time to accommodate wider use of the EVS, in addition to scheduling additional EGD and Colonoscopies to fill their additional block time.

# Case Study: Realizing the EVS Advantage

To illustrate the real-world impact of the EVS, consider the following case study from a current user:

An established gastroenterologist implemented the EVS in his ASC practice, with the following results:

- Pre-Implementation (2023):
- 112 EUS cases performed over 8.5 months in a hospital endoscopy suite.
- Post-Implementation (2024):

EndoSound

- 96 EUS procedures performed at the hospital endoscopy suite
- 88 EUS cases performed at the ASC using the EVS

- Total EUS Volume:

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

With EUS now available at the ASC, more patients were scheduled for expanded indications including chronic abdominal pain and diarrhea, pancreatic cancer screenings, pancreatic cyst surveillance, dilated bile ducts, small gastric submucosal lesions, and others.

## Case Study: Key Outcomes:

1. Practice Growth through EUS availability and Echo-Endoscopy:
- The physician didn't simply shift volume but significantly expanded his EUS practice.
- This was partially accomplished by scheduling more patients with EUS, a term called Echo-Endoscopy meaning “Ultrasound-Enhanced Endoscopy”.
- Using EUS in conjunction with regular EGD has the potential to enhance diagnostic yield and data from this case study confirms that result.
- Additional volume was created when Partner physicians were able to efficiently refer their own patients for EUS with the EUS physician for exams at their own ASC

2. ASC Revenue Boost:
- EUS procedures code with higher reimbursement
- Increased volume of EGD and colonoscopy procedures on days allocated for EUS. When physicians schedule EUS exams, they will often perform additional EGD and colonoscopy cases to fill out their schedule.

3. Improved Efficiency: The EVS allowed for efficient scheduling and performance of EUS procedures in the ASC setting.
4. Enhanced Patient Experience: Patients benefited from the convenience and typically lower costs associated with ASC-based procedures.1

This case study demonstrates that implementing EVS can be a win-win situation for gastroenterologists, ASCs, and patients alike.

1 https://www.medicare.gov/procedure-price-lookup/cost/43259

EndoSound

# A New Paradigm for EUS

The introduction of the EVS has the potential to create a new standard for EUS delivery, aligning it more closely with common procedures like EGD and colonoscopy. This shift promises several key benefits:

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

# Conclusion

The EVS represents a significant advancement in making endoscopic ultrasound more accessible, efficient, and profitable in the ASC setting. By addressing the traditional barriers to EUS adoption, this innovative technology opens new possibilities for gastroenterologists, ASCs, and patients alike. As demonstrated in the case study, implementing EVS can lead to practice growth, increased ASC profitability, and improved patient care. Furthermore, with Echo-Endoscopy the practice used ultrasound with a standard EGD to drive more clinical results and increase volume.

The future of EUS lies in its broader adoption in outpatient settings, aligning with the ongoing shift towards value-based care. The EVS is at the forefront of this transformation, promising to revolutionize the delivery of advanced endoscopic services in gastroenterology.

EndoSound

Further Information:

|  | Stuart Akerman, MD - Tutorial (Using EVS) |
| --- | --- |
|  | EndoSound Vision System Clinical Case Video |

**Attachment 16:** `document_16.pdf`

EndoSound

# The Evolution and Promise of Echo-EGD: Enhancing Standard Endoscopy with Ultrasound

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

# Stephen Steinberg, MD

Interventional Gastroenterologist

Chief Medical Officer

EndoSound Inc.

When a patient presents with abdominal pain or dyspepsia, physicians may choose from a variety of diagnostic tests to uncover the underlying cause. While standard EGD (esophagogastroduodenoscopy) is frequently utilized, Echo-EGD, which enhances traditional endoscopy with ultrasound, holds the

promise of greater diagnostic accuracy. It should be noted that Echo-EGD is distinguished from typical EUS indications, namely abnormalities noted on prior endoscopy or imaging for further evaluation.

The choice between standard EGD and Echo-EGD depends on the indication. The follow-up and/or evaluation of lesions such as Barrett's, gastric ulcers, etc. are common EGD indications. However, there is also significant overlap i.e. patients referred for diagnostic evaluation of abdominal pain or dyspeptic symptoms which there is a significant percentage of patients. Of the 8 million EGDs performed annually in the United States, many patients could fall into the diagnostic category and could benefit from the enhanced visualization that Echo-EGD provides. Indeed, many of these patients come to EUS after EGD and other diagnostic testing has been uninformative.

Standard EGD (Figure 1a) only visualizes the inner lining of the upper digestive tract. Adding ultrasound (Echo-EGD, or Echo-Endoscopy) allows physicians to visualize both the digestive tract lining and the surrounding tissues and organs during a single examination (Figure 1b).

![img-1.jpeg](img-1.jpeg)
Figure 1. (a) Illustration on left is of organs seen with standard EGD. (b) Illustration on right is of organs examined with Echo-EGD. This comprehensive view can improve diagnostic accuracy and potentially reduce the need for follow-up imaging.

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

EndoSound

# Compelling Clinical Data

Echo-EGD is not a new concept. There are significant data dating back to 2000 showing clinical benefits (Table 1). Echo-EGD has not been widely adopted, primarily due to the high costs of traditional endoscopic ultrasound (EUS) systems and their limitations in the hospital setting. However, with new technology like the EndoSound Vision SystemTM (EVSTM), which can convert any endoscope into an EUS device at a lower price point, Echo-EGD has become more feasible.

| Title | Authors and Reference | Implications for Echo-EGD (EE) |
| --- | --- | --- |
| EUS to detect evidence of pancreatic disease in patients with persistent or nonspecific dyspepsia | Sahai et al., Gastrointest Endosc 2000;52:153-9. | EE demonstrated that 40% (51/156) of dyspepsia patients had evidence of pancreatic disease |
| An assessment of the potential value of endoscopic ultrasound as a cost-minimizing tool in dyspeptic patients with persistent symptoms | Sahai et al., Endoscopy 2001; 33: 662-667 | Dyspepsia evaluation had a lower cost with EE based approach |
| EUS in the management of uninvestigated dyspepsia | Lee et al., Gastrointest Endosc 2002; 56: 842-848 | EE changed management in 25% of dyspepsia patients |
| EUS compared with endoscopy plus transabdominal US in the initial diagnostic evaluation of patients with upper abdominal pain | Chang et al., Gastrointest Endos 2010; 72: 967-74 | 38% of patients with upper abdominal pain had a diagnosis made (66/172) (38%); of those 48% were EE based |
| Endosonography For Right-sided and Acute Upper Intestinal Misery: the EFRAIM study | Jung et al., United European Gastro Journal 1(5) 329-334 | 223 patients with abdominal pain. EE had a higher diagnostic yield than the combination of transabdominal US and EGD (62.3 vs. 50.7%; p = 0.001). |

Table 1. Echo-EGD clinical publications

# Why Echo-EGD Matters:

- In the US approximately 8 million standard EGDs are performed annually
- Many of these are performed for diagnostic indications (e.g. abdominal pain, and/or dyspepsia) and these patients could benefit from the enhanced diagnostic capabilities where pathology was identified in as many as 35% of patients (Sahai et al., 2000).
- Clinical evidence suggests that Echo-EGD as a first line diagnostic could be more effective in discovery of disease or the causes of the patient's presentation.
- Lastly, the procedure can be safely performed in ambulatory surgical centers (ASCs), and because of the introduction of the EVS, access to care can be improved and costs are reduced.

EndoSound

# Echo-EGD: Time and Money

![img-3.jpeg](img-3.jpeg)
Figure 2. Comparison between patient flow on right with standard EGD first and Echo-EGD on left side. Both time and money are saved with Echo-EGD.

When a patient comes in with abdominal pain and/or dyspepsia, they face two potential diagnostic paths - and the difference in both time and money is striking.

Standard EGD ("Traditional Approach") (Figure 2 right side), often involves a multi-step diagnostic journey:

- Week 1: Patient presents with upper abdominal pain
- Week 2: Initial EGD (Insurance cost: $2,000, Patient cost: $400)
- Week 5: Additional imaging like CT or MRI (Insurance cost: $2,000, Patient cost: $600)
- Week 10: Hospital-based EUS (Insurance cost: $1,700, Patient cost: $340)

The standard EGD patient flow may stretch over 10 weeks, with total costs reaching $5,700* for insurance and $1,340* for the patient. The process requires multiple appointments, procedures, and recovery periods.

With Echo-EGD (Figure 2, left side), patients can benefit because it offers a streamlined diagnostic process. After the initial presentation of upper abdominal pain, by week 2, patients can receive a comprehensive examination that costs insurance $1,100 and the patient just $200. Clearly a more simplified path. This single procedure combines traditional endoscopy with ultrasound imaging, leading to a diagnosis within two weeks. Total cost: $1,320.*

*Cost estimates based on CMS, Google search. Actual costs could be higher or lower in your state and clinic

EndoSound

The Bottom Line: In this example, the difference is clear - Echo-EGD saves:

- 8 weeks of diagnostic time
- $4,600 in insurance costs
- $1,120 in patient out-of-pocket expenses
- Multiple medical visits and procedures

These numbers are based on CMS national averages and are likely much higher for private payers. Finally, this change in patient flow has the potential to reduce healthcare costs and improve patient's lives.

Beyond the numbers, this represents less time spent uncertain, fewer medical procedures, and a more efficient path to treatment for patients seeking answers about their health.

As noted by Dr. Leonardo Sosa at IHU de Strasbourg, France, in his textbook titled Pancreatic Endoscopic Ultrasound: Current Practice and Clinical Applications 1st Edition, he states that the EVS is a:

“new and revolutionary upper endoscopy solution [that] offers the promise of “democratizing” internal sonography while performing EGD, making Echo-EGD [or Echo-Endoscopy] widely available to all patients with upper digestive symptoms. One could imagine a time when internal sonography will maximize the diagnostic yield of every upper endoscopy, providing visualization of luminal features and at the same time, adjacent, extra-luminal structures. This new device will probably increase the number of second-intention EUS worldwide for precision diagnostics and it will compete with tomography and abdominal ultrasound.”

The EVS enables physicians to perform Echo-EGD in the ASC, making this powerful diagnostic tool accessible to all patients with upper digestive symptoms. This innovation could transform standard endoscopy patient pathways by integrating enhanced imaging earlier in the diagnostic process. Revised clinical algorithms that incorporate Echo-EGD more frequently can deliver significant benefits to all stakeholders-reducing diagnostic timelines for patients, lowering overall healthcare costs for insurers, and creating more efficient workflows for providers.

**Attachment 17:** `document_17.pdf`

EndoSound

EndoSound Insights: The value of Echo-EGD, EUS-enhanced standard endoscopy

Case Study: Windsock diverticulum

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

Brian S. Lim, MD, MCR, FACP, FACG, FASGE, AGAF
Gastroenterologist
United Medical Doctors

Introduction: Echo-EGD, which I define as diagnostic EGD enhanced with ultrasound, is perhaps ideal to maximize the find rate. Today, it is more accessible than ever and with it comes the promise to improve patient care and reduce healthcare spending.

We believe that Echo-EGD is more possible and necessary than ever because:

- There are 8 million EGDs performed annually in the U.S.
- A significant portion could benefit from a more comprehensive exam compared to standard EGD.
- It can often reduce the need for additional cross-sectional studies such as CT or MR.
- Echo-EGD can be performed in the ASC.

High equipment costs have confined EUS mainly to hospital settings, limiting access. The EndoSound Vision SystemTM (EVSTM) technology transforms any endoscope into a fully functioning EUS system. EVS is cost-effective and opens new possibilities for Echo-EGD across care settings.

Below I describe a case where Echo-EGD with EVS helped achieve a definitive diagnosis.

## Patient History

A 50-year-old male with reflux and dysphagia was found to have a subepithelial lesion in the second part of the duodenum during EGD. The patient was referred for EUS for further investigation.

## The Procedure

A subepithelial lesion was identified in the second portion of duodenum (Figure 1). Proximal to this lesion, there was a diverticulum with a large opening (Figure 2). To have an optimal angle for endosonography based on the endoscopic location of the lesion, the ultrasound probe was placed at 7 o'clock position (Figure 3). EUS confirmed that the "subepithelial lesion" seen on EGD was the outer portion of a windsock-like diverticulum. Water infusion in duodenal lumen resulted in water flowing into the inner part of diverticulum on EUS (Figures 4, 5). Figure 5 shows the sonographic image of a windsock diverticulum as seen on EUS with the picture of an actual windsock inserted for comparison.

EndoSound

![img-1.jpeg](img-1.jpeg)
Figure 1. Subepithelial lesion

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

![img-3.jpeg](img-3.jpeg)
Figure 3. Ultrasound probe

![img-4.jpeg](img-4.jpeg)
Figure 4. EUS pre-water infusion

![img-5.jpeg](img-5.jpeg)
Figure 5. EUS post-water infusion

## Conclusion

Confirmation of a windsock diverticulum masquerading as a subepithelial lesion was achieved by performing EUS with EVS. Even though this case was a referral from another gastroenterologist, it could have easily been an Echo-EGD case should the lesion have been found by an endosonographer with access to EVS at the time of initial EGD. This, in turn, would have enabled the delivery of efficient care cost-effectively. Another advantage of EVS compared to traditional EUS scopes is that the probe placement can be tailored to the location of the lesion viewed endoscopically. In our case, the lesion was in 7 o'clock position and thus the probe was placed at 7 o'clock position accordingly. Lastly, the forward viewing scope orientation reduced the risk of accidentally entering the diverticulum and causing perforation - a complication occasionally seen with side-viewing endoscopes.

This shift in approach may lead to changes in our patient flow. Specifically, we may now opt for Echo-EGD as a first-line investigation, bypassing other imaging modalities and streamlining the diagnostic process (Sahai et al., 2000). More recently, additional data supports this approach that Echo-EGD is a viable option for patient care (Chang et al., 2010). By making EUS capabilities more accessible and affordable, we are not just introducing new technology - we are revolutionizing the standard of care in endoscopy.

## References:

Sahai et al., Gastrointest Endosc 2000;52:153-9. EUS to detect evidence of pancreatic disease in patients with persistent or nonspecific dyspepsia.

Chang et al., Gastrointest Endosc 2010; 72: 967-74. EUS compared with endoscopy plus transabdominal US in the initial diagnostic evaluation of patients with upper abdominal pain.

**Attachment 18:** `document_18.pdf`

From: Elizabeth Ettling
Date: Tue, May 20, 2023 07:09:47
Subject: Important Message from EndoSound
To:
Cc: Scott Aldrich

Hello everyone, I hope you are enjoying spring so far. Please see a message below from Scott Aldrich. Best wishes, Elizabeth

Dear EndoSound Shareholders,

We're excited to share a major milestone in our journey. We recently received a letter of interest from a major GI strategic for a Series B Lead [Please be aware that information is confidential and should not be shared]. Though non-binding, we have been progressing rapidly through a diligence process that we hope to wrap up soon in Q3. To further aid our continued bridge funding efforts, and to this potential Series B, we're launching a crowdfunding campaign under Regulation Crowdfunding (Reg CF), and we'd love for you to be part of it. The bridge funding will allow us to begin to ramp up our progress in the market and on Gen2 development. Our founders have already committed another $300K to help launch our campaign. We have significant interest in this new crowdfunding approach as it unlocks a new demographic of potential investors within our extensive networks. We are targeting a $500K raise but think we can far exceed that.

We're hosting the campaign on WeFunder, and it will go to full launch on June 16th. You're invited to join our exclusive soft launch phase, giving our most valued supporters priority access before we open to the general public. You can make a reservation and preview the campaign now here: ENDOSOUND.

What Is Reg CF?

Reg CF (short for Regulation Crowdfunding) is a way for private companies like ours to raise capital from both accredited and non-accredited investors through SEC-registered online platforms. It gives our supporters, customers, and community - the opportunity to own a piece of the future we're building.

Why we're doing this

We believe that those who believe in us should have the chance to invest in us. Reg CF allows us to grow not just with capital, but with the backing of a true community of believers. Whether you're a longtime supporter or a new friend, this is their chance to come on board in a whole new way.

How you can help

1. Invest - Even a small investment can make a big difference. The minimum to invest is $250 and takes less than 5 minutes.
2. Share - Spread the word to your network. The more eyes on this, the better!
3. Engage - Ask questions, give feedback, and be part of the conversation.

This is more than fundraising. It's about improving patient care and access to a critical technology. Help us spread the message.

If you have any questions or want to talk more about the opportunity, don't hesitate to reach out.

We will also be holding an investor update call on Tuesday, June 3rd at 7:00pm ET to inform everyone of the significant milestones we continue to achieve. Here is the zoom link to that meeting: (https://us02web.zoom.us)/84546515870?owd=REBKSVA77a0fTSfQ57eclC4rWnJvKq.1)

An invitation will be coming to that meeting shortly including dial-in information.

Let's build the future together,

Scott Aldrich Jr
Chief Executive Officer

EndoSound is "testing the waters" to gauge investor interest in an offering under Regulation Crowdfunding. No money or other consideration is being solicited. If sent, it will not be accepted. No offer to buy securities will be accepted. No part of the purchase price will be received until a Form C is filed and only through Wefunder's platform. Any indication of interest involves no obligation or commitment of any kind.

**Attachment 19:** `document_19.pdf`

Paul,

It was great seeing you at DDW and I am glad we got a chance to briefly catch up at the Wake reception. More importantly, I am so happy to hear how well you are doing.

I know we did not have a chance to catch up at DDW around the investment opportunity at EndoSound but I wanted to offer up some additional time for you if you wanted to discuss further. In the meantime I thought I would go ahead and send you some details.

EndoSound's Wefunder campaign is now live! You're invited to join our exclusive soft launch phase, giving our most valued supporters priority access before we open to the general public. With limited availability and high demand expected, this special opportunity ensures you can secure your spot before we sell out. Check out our Wefunder page and make a reservation here:

Invest in EndoSound: We transform standard GI scopes into ultrasound powerhouses-fueled by simplicity and savings | Wefunder. Home of the Community Round

--

Josh Cohn

Chief Commercial Officer

Cell:

EndoSound is "testing the waters" to gauge investor interest in an offering under Regulation Crowdfunding. No money or other consideration is being solicited. If sent, it will not be accepted. No offer to buy securities will be accepted. No part of the purchase price will be received until a Form C is filed and only through Wefunder's platform. Any indication of interest involves no obligation or commitment of any kind.

**Attachment 20:** `document_20.pdf`

Hi Everyone,

As you know, we are extending exclusive reservations to the EndoSound Community Round on Wefunder. We're really pumped about the momentum we've been seeing (with minimal outreach to Friends &amp; Family, we already have over $75,000 through Reservations), and wanted to make sure that you didn't miss out on this unique opportunity.

Here are some of the EndoSound Family in the lab (Pictured L-R: Peter, Scott A, Josh, Steve (co-founder), Sam, Patrick):

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

We recognize many people aren't familiar with Regulation Crowdfunding (Reg CF), which is why we're hosting a live call for all of you who want to learn more about our Community Round, the investment opportunity, and how the process works.

Please join us on June 4th or June 5th for a brief presentation and live Q&amp;A. We look forward to the discussion and addressing any questions you might have. **IMPORTANT**: you will receive invites for June 4th and 5th. You only need to attend ONE session.

If you haven't seen our Wefunder page yet, check it out here: [Invest in EndoSound: Transforming Standard Endoscopes into Ultrasound Powerhouses - Advancing Early GI Disease Detection | Wefunder. Home of the Community Round](Invest in EndoSound: Transforming Standard Endoscopes into Ultrasound Powerhouses - Advancing Early GI Disease Detection | Wefunder. Home of the Community Round).

Best regards,

Josh Cohn and the EndoSound Team

EndoSound is "testing the waters" to gauge investor interest in an offering under Regulation Crowdfunding. No money or other consideration is being solicited. If sent, it will not be accepted. No offer to buy securities will be accepted. No part of the purchase price will be received until a Form C is filed and only through Wefunder's platform. Any indication of interest involves no obligation or commitment of any kind.

**Attachment 21:** `document_21.pdf`

EndoSound

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

# LET YOUR COMMUNITY INVEST

# WEFUNDER

The Next Era of EUS - EndoSound, the EVS and Crowdfunding

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

EndoSound

# Agenda

- What is a Community Round?
- Why WeFunder
- Who is it a good fit for?
- EndoSound Technology - How, What and Why
- Next Steps
- Q &amp; A

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

EndoSound

# What is a Community Round?

- Normally when startups raise capital, they use Regulation D
- Accredited investors only
- Private solicitation
- Regulation Crowdfunding (Reg CF) changes both of those two things
- Unaccredited AND accredited investors
- Ability to publicly promote, run a marketing campaign

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

EndoSound

# What is a Community Round?

- Can raise up to $5M per year
- Average raise on Wefunder is $400K
- Can be part of a larger round - an “allocation” for your customers and community to invest (e.g.) alongside VCs
- There are a number of Regulation Crowdfunding platforms. Wefunder is the biggest

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

EndoSound

# Wefunder's Mission

- Wefunder is a Public Benefit Corporation (PBC), not a C Corp
- Allowing everyone to invest, not just the most wealthy
- Building stronger connections between investors and founders - community around startups
- Consumer facing is the sweet spot (although not limited to B2C)

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

EndoSound

# Why a Bridge Round?

- Recently received a letter of interest from a major GI strategic for a Series B Lead.
- Bridge through Regulation Crowdfunding (Reg CF) - WeFunder
- Goal: Runway to be in a position of strength in further a raise
- Discussions with VCs and Strategics ongoing
- Allow time to for the markets to open up
- Further M&amp;A and IPOs
- Allow EndoSound to continue its current trajectory
- Maximize shareholder value in an exit pathway
- Turn our most passionate customers and supporters into investors and owners

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

Endofound

# History of Demonstrated Success

- FDA Breakthrough Device Designation - 2021
FDA Clearance: December 2023

- Robust IP Portfolio (10 Issued + 10 Pending)

- AGA Innovation of the Year 2022
ASGE Innovation of the Year 2022

- Significant market traction with early commercial progress and milestones attained

- Transitional Pass Through (TPT) code awarded starting July 1, 2024

- ~$12M Raised to Date (non-dilutive $5M by Major GI)
- Series A funding by lead investor Geo Med Tech Ventures with investment from the AGA Opportunity Fund

ENDOSOUND

EndoSound

ENDOSOUND VISION SYSTEM (EVS)

# Unmet Needs of Existing EUS

## LEGACY EUS SYSTEMS

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

### HIGH COST

**CAPITAL:**
- $450,000 limits availability

**MAINTENANCE:**
- Costly and burdensome

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

### SAFETY CONCERNS

**FDA RECALL**
- Design flaw (elevator)
- Risk of infection

![img-9.jpeg](img-9.jpeg)

### LIMITED FLEXIBILITY

**FOOTPRINT:**
- Bulky-large scopes and scanners
- Not portable

![img-10.jpeg](img-10.jpeg)

### TECHNOLOGY
- Advanced imaging capabilities
- Minimally invasive
- Critical technology

![img-11.jpeg](img-11.jpeg)

ENDOSOUND VISION SYSTEM (EVS)

EndoSound

# The Next Era of EUS

EndoSound Vision System addresses all significant drawbacks to current legacy systems, providing a massive runway to capture and expand the market.

# ENDOSOUND VISION SYSTEM

![img-12.jpeg](img-12.jpeg)

## AFFORDABLE
- Site of care expansion
- Worldwide market access

![img-13.jpeg](img-13.jpeg)

## INCREASED SAFETY
- Decreased infection risk
- FDA Breakthrough Device

![img-14.jpeg](img-14.jpeg)

## SUPERIOR FLEXIBILITY
- Portable
- Multi-functional
- Point-of-care Ultrasound

![img-15.jpeg](img-15.jpeg)

## TECHNOLOGY
- Advanced imaging capabilities
- Minimally invasive
- Critical technology

![img-16.jpeg](img-16.jpeg)

EndoSound

# How it Works

EndoSound Vision System

- The adaptive design of the EndoSound Vision System allows providers to easily convert existing flexible video gastroscopes from all major endoscope manufacturers into ultrasound endoscopes, delivering new accessibility to EUS at a fraction of the cost of conventional platforms.

EndoSound Animation Link - How it works

EndoSound

ENDOSOUND VISION SYSTEM (EVS)

# Expanding the Standard of Care

EndoSound Vision System adds significant value across the spectrum of facilities offering endoscopy, from large teaching institutions to remote hospitals to ASCs

| Ambulatory Surgery Centers (ASCs) | 97% Do Not Have EUS | ● New Service Line ● More Affordable location for Payers, Patients ● More Efficient for Physicians |
| --- | --- | --- |
| Hospitals | 80% Do Not Have EUS | ● Hospitals without EUS New service line ● Hospitals with EUS Expanded capacity |

EVS not only covers gaps in the legacy technologies...

EndoSound

# ...but unlocks Echo-Endoscopy

Echo-Endoscopy adds ultrasound to a standard upper GI scope procedure, collecting more diagnostic information

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

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

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

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

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

25 Years of research shows the benefits of Upper Endoscopy (EGD) enhanced by ultrasound (ECHO-ENDOSCOPY) leads to:

- Earlier diagnosis
- Lower costs
- Fewer tests
- Better healthcare

ENDOSOUNDS DISRUPTIVE TECHNOLOGY IN SIZE, SAFETY AND PRICING MAKE ECHO-ENDOSCOPY FEASIBLE, UNLOCKING A SUBSTANTIAL OPPORTUNITY

8,000,000 Annual USA EGD'S

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

20% CAPTURE (80% potential)

$1.04B / yr.

Endofound

# Combined Vision: Market Size

![img-6.jpeg](img-6.jpeg)
Initial Market Entry

![img-7.jpeg](img-7.jpeg)
Market Disruption
(Echo-Endoscopy)

![img-8.jpeg](img-8.jpeg)
$19B

$7.2B TAM
$1.8B SOM

## Key Focus Areas:

### US
- Migration of procedures from Hospital to ASC
- Growth in Hospital offerings
- Echo-Endoscopy

### Global
- Large, underserved markets (emerging markets)
- Global health equity

### Indication Expansion
- Growth to all ultrasound in the body

TAM - Total Addressable Market | SAM - Serviceable Addressable Market | SOM - Serviceable Obtainable Market

EndoSound

# Funding History

| Stage | Investors | Amount | Valuation (Pre-) |
| --- | --- | --- | --- |
| Founders | Self Funded | $750,000 | N/A |
| Seed | Friends & Family | $1,725,000 | $9,000,000 |
| Series A | Led By: Geo MedTech Ventures | $5,000,000 | $17,000,000 |
| Series B | TBD | $8,000,000 | TBD |

Additional:

| Licensing | Licensing and Royalty Fee | $5,000,000 | (Non-dilutive) |
| --- | --- | --- | --- |
| Total Funding To Date ~ $12M |  |  |  |

Terms of Bridge Round

EndoSound

# To be posted on WeFunder Site at Go Live

![img-9.jpeg](img-9.jpeg)

Endofound

# SUMMARY

- FDA Cleared - First significant innovation in Endoscopic Ultrasound in over 2 decades
- Moves procedures away from high-cost hospitals to lower cost surgery centers
- Lowers costs for patients, facilities and payers
- Echo-Endoscopy offers dramatic domestic and global expansion market opportunities
- Better patient experience / better physician experience

Endesound

# Next Steps

More information will be forthcoming

If interested please email me directly

This is more than fundraising. It's about creating a movement - and many of you have been with us from the ground up. Help us spread the message.

Endosound

# Q &amp; A

Josh Cohn
Chief Commercial Officer
(C): 201.248.0674
(E): Cohn@endosound.com

# THANK YOU

Testing the waters legal disclosure.

We are 'testing the waters' to gauge investor interest in an offering under Regulation Crowdfunding. No money or other consideration is being solicited. If sent, it will not be accepted. No offer to buy securities will be accepted. No part of the purchase price will be received until a Form C is filed and only through Wefunder's platform. Any indication of interest involves no obligation or commitment of any kind.

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

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** ENDOSOUND, INC.

**Legal Status:** Corporation

**Jurisdiction of Incorporation/Organization:** DE

**Date of Organization:** 06-17-2016

**Physical Address:** 4640 S. Macadam Ave. Ste 200, Portland, OR, 97239

**Issuer Website:** https://endosound.com

**Is there a Co-Issuer?:** Yes

**Intermediary Name:** Wefunder Portal LLC

**Intermediary CIK:** 0001670254

**Intermediary File Number:** 007-00033

**Intermediary CRD Number:** 283503

### Offering Information

**Compensation to Intermediary:** 6.5% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.

**Financial Interest in Issuer:** No

**Type of Security Offered:** Other

**Other Description of Security:** Convertible Note

**Number of Securities Offered:** 50000

**Price per Security:** $1.00

**Method for Determining Price:** Pro-rated portion of the total principal value of $50,000; interests will be sold in increments of $1; each investment is convertible to one share of stock as described under Item 13.

**Target Offering Amount:** $50,000.00

**Oversubscription Accepted:** Yes

**Oversubscription Allocation Type:** Other

**Description of Oversubscription:** As determined by the issuer

**Maximum Offering Amount:** $1,235,000.00

**Deadline to Reach Target Amount:** 04-30-2026

### Annual Report Disclosure Requirements

**Current Number of Employees:** 10

**Total Assets (Most Recent Fiscal Year):** $905,616.00

**Total Assets (Prior Fiscal Year):** $2,080,299.00

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $422,660.00

**Cash & Cash Equivalents (Prior Fiscal Year):** $1,356,366.00

**Accounts Receivable (Most Recent Fiscal Year):** $89,009.00

**Accounts Receivable (Prior Fiscal Year):** $28,414.00

**Short-Term Debt (Most Recent Fiscal Year):** $1,805,222.00

**Short-Term Debt (Prior Fiscal Year):** $486,570.00

**Long-Term Debt (Most Recent Fiscal Year):** $0.00

**Long-Term Debt (Prior Fiscal Year):** $0.00

**Revenues/Sales (Most Recent Fiscal Year):** $1,541,507.00

**Revenues/Sales (Prior Fiscal Year):** $1,551,500.00

**Cost of Goods Sold (Most Recent Fiscal Year):** $301,574.00

**Cost of Goods Sold (Prior Fiscal Year):** $0.00

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

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

**Net Income (Most Recent Fiscal Year):** $-2,627,439.00

**Net Income (Prior Fiscal Year):** $-3,400,147.00

**Jurisdictions Offered:**

ALABAMA, ALASKA, ARIZONA, ARKANSAS, CALIFORNIA, COLORADO, CONNECTICUT, DELAWARE, DISTRICT OF COLUMBIA, FLORIDA, GEORGIA, HAWAII, IDAHO, ILLINOIS, INDIANA, IOWA, KANSAS, KENTUCKY, LOUISIANA, MAINE, MARYLAND, MASSACHUSETTS, MICHIGAN, MINNESOTA, MISSISSIPPI, MISSOURI, MONTANA, NEBRASKA, NEVADA, NEW HAMPSHIRE, NEW JERSEY, NEW MEXICO, NEW YORK, NORTH CAROLINA, NORTH DAKOTA, OHIO, OKLAHOMA, OREGON, PENNSYLVANIA, RHODE ISLAND, SOUTH CAROLINA, SOUTH DAKOTA, TENNESSEE, TEXAS, UTAH, VERMONT, VIRGINIA, WASHINGTON, WEST VIRGINIA, WISCONSIN, WYOMING, B5, GU, PR, VI, 1V

### Signatures

**Issuer:** ENDOSOUND, INC.

**Signature:** Scott Aldrich Jr

**Title:** Chief Executive Officer

---

**Signature:** Scott Aldrich Jr

**Title:** Chief Executive Officer

**Date:** 06-16-2025

---

**Signature:** William E. Rhodes, III

**Title:** Director

**Date:** 06-16-2025

---

**Signature:** Scott S Corbett III

**Title:** CTO

**Date:** 06-16-2025

---

**Signature:** Stephen Steinberg

**Title:** Chairman BOD

**Date:** 06-16-2025

---

**Signature:** Morris Sandler

**Title:** Director

**Date:** 06-16-2025

---

**Signature:** Nicholas Puro

**Title:** Director

**Date:** 06-17-2025