# EDGAR Filing Document

**Accession Number:** 0001819713
**File Stem:** 0001665160-23-000153
**Filing Date:** 2023-1
**Character Count:** 32762
**Document Hash:** ceacd782a26b268c64916e5e5efe4a4b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001665160-23-000153.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001665160-23-000153

**CONFORMED SUBMISSION TYPE**: C/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Boaz Bikes, Inc
- **CENTRAL INDEX KEY:** 0001819713
- **IRS NUMBER:** 862041645
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** C/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-31222
- **FILM NUMBER:** 23562485

**BUSINESS ADDRESS:**
- **STREET 1:** 1600 CLAY AVE
- **STREET 2:** UNIT 138
- **CITY:** DETROIT
- **STATE:** MI
- **ZIP:** 48211
- **BUSINESS PHONE:** 5106982462

**MAIL ADDRESS:**
- **STREET 1:** 7600 CHRYSLER DR. UNIT 101
- **STREET 2:** UNIT 101
- **CITY:** DETROIT
- **STATE:** MI
- **ZIP:** 48211

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Boaz Bike LLC
- **DATE OF NAME CHANGE:** 20200730

### Attached PDF Documents

**Attachment 1:** `offeringmemoformc.pdf`

## **Offering Memorandum: Part II of Offering Document (Exhibit A to Form C)**

Boaz Bikes Inc
7600 Chrysler Dr. Unit 101
Detroit, MI 48211
https://www.boazbikes.com/

Up to $3,799,996.34 in Common Stock at $1.94
Minimum Target Amount: $9,998.76

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.

# Company:

Company: Boaz Bikes Inc

Address: 7600 Chrysler Dr. Unit 101, Detroit, MI 48211

State of Incorporation: DE

Date Incorporated: February 03, 2021

# Terms:

Equity

Offering Minimum: $9,998.76 | 5,154 shares of Common Stock

Offering Maximum: $3,799,996.34 | 1,958,761 shares of Common Stock

Type of Security Offered: Common Stock

Purchase Price of Security Offered: $1.94

Minimum Investment Amount (per investor): $248.32

# Voting Rights of Securities Sold in this Offering

Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the "CEO"), or his or her successor, as the Subscriber's true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

# Investment Incentives and Bonuses*

# Time Based:

Friends and Family Early Birds

Invest within the first 72 hours and receive 25% Bonus Shares.

Super Early Bird Bonus

Invest within the first week and receive 20% Bonus Shares.

Early Bird Bonus

Invest within the first two weeks and receive 15% Bonus Shares.

First Two Months Early Bird Bonus

Invest within the first two months and receive 10% Bonus Shares.

# Amount Based:

Tier 1 | $500

Invest $500 and receive a $50 credit off future rides

Tier 2 | $1,000

Invest $1,000 and receive Tier 1+ a free Boaz branded investor t-shirt.

Tier 3 | $5,000

Invest $5,000 and receive Tier 2 + free rides all year.

Tier 4 | $10,000

Invest $10,000 and receive Tier 3 + virtual meet and greet with the entire team & tour of our facility.

Tier 5 | $20,000

Invest $20,000 and receive Tier 4 + a free scooter.

### **Loyalty Bonus:**

Past investors receive 10% bonus shares.

*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement. Bonus shares from perks will not be granted if an investor submits multiple investments that, when combined, meet the perk requirement. All perks occur when the offering is completed.*

### **The 10% StartEngine Owners' Bonus**

Boaz Bikes will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $1.94 / share, you will receive 110 shares Common Stock, meaning you'll own 110 shares for $194. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.

Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any). Eligible investors will also receive the Owner's Bonus and the loyalty bonus for past Investors in addition to the aforementioned bonus.

## **The Company and its Business**

### *Company Overview*

Boaz Bikes, Inc ('Boaz Bikes') is a Corporation organized under the laws of the state of Delaware and is a Revolutionary eco-conscious micro-mobility company that is moving people around more safely.

Boaz Bikes inc was initially organized as Boaz Bike LLC, a Texas limited liability company on 12/31/2018 and converted to a Delaware corporation on 2/3/2021.

The Company's business model consists of renting and selling dockless scooters which are designed to cater to the everyday consumer and traveler. Our products are sold across states as well as direct-to-consumer businesses online. We also obtain permits through the city to offer scooters for rental. Users download our app to rent the scooters by the minute. Currently, in one city we offer weekly rentals and we also offer direct-to-consumer sales. We ran two pilots that introduced two new revenue streams in

2022 and we plan to add those pilots to our Arizona markets by the end of 2022.

The Company received the right to use the logo Trademarked in the U.S. trademark granted to boaz bikes, filed with the USPTO on 06/18/2019. In addition to this, Boaz Bikes has developed a mobile app.

*Competitors and Industry*

**INDUSTRY**

The Electric Scooter Market is expected to grow at a CAGR of 30.3% from 2021 to 2028 to reach $677.2 billion by 2028. By volume, this market is expected to grow at a CAGR of 23.5% from 2021 to 2028 to reach 238.1 million units by 2028.

https://www.prnewswire.com/news-releases/global-electric-scooter-markets-report-2021-2028---increasing-efforts-by-oems-to-produce-lightweight-bikes--increasing-trend-towards-connected-e-bikes-301402099.html#:~:text=The%20Electric%20Scooter%20Market%20is,238.1%20million%20units%20by%202028

https://www.globenewswire.com/news-release/2021/10/18/2315377/28124/en/Electric-Scooter-Markets-Global-Forecast-to-2028-Increasing-Investments-by-Ride-hailing-Companies-in-the-Micromobility-Space.html

**COMPETITORS**

We are a scooter company on a national level that is owned by the people and created for the people.

As a patent-pending product on our new model vehicle, we believe this will give us a fighting chance we need to go up against the bigger and more funded players. We've developed software that allows us to station vehicles in hot spots all around the city that are updated in real-time.

This gives us the advantage of shifting vehicles all throughout the day to spots that will get us more rentals. We also believe that the new pilots that we are currently working on will give us an advantage in the future.

The Company has several major competitors in the shared scooter market. Some of the top competitors in our industry include Bird, Lime, and Spin. Lime is the industry leader and the Company's primary competition in the shared scooter industry. Bird also owns a significant market share, they were the first movers in the industry and the second shared scooter company to go public. Spin are direct competitors backed by Ford but with similar expansion goals. Lime is currently valued at over $2B. Despite the present competitive landscape, the Company stands out in the shared scooter industry because we are able to scale and be profitable in small to midsize markets that our competitors are currently not focused on. This strategy allows us to be the first movers in markets and build brand loyalty years before our competitors try to penetrate.

*Current Stage and Roadmap*

**CURRENT STAGE**

The Company's products are currently on the market and generating sales. We believe that our team is made up of innovative and first movers in the industry. We are also patent-pending on our new model vehicle which we believe will give us the fighting chance we need against the bigger and more funded players.

As of today, we've developed software that allows us to station vehicles in hot spots all around the city that is updated in real-time. We believe that this gives us the advantage of shifting vehicles all throughout the day to spots that will help us obtain more rentals.

**FUTURE ROADMAP**

We have several new pilots planned that we are currently working on that we believe will give us an

advantage in the future. We believe, within the next 5 years, we will be the leader in the scooter industry because we are developing the next generation of scooters and solving pain points our competitors are not, which will give us a competitive advantage and brand loyalty for years to come.

## The Team

### Officers and Directors

**Name:** Emil Nnani

Emil Nnani 's current primary role is with the Issuer.

Positions and offices currently held with the issuer:

- **Position:** CEO & Director
  **Dates of Service:** December, 2018 - Present
  **Responsibilities:** General day-to-day operations. Salary: $7,000/mo, Equity: 62.5%

Other business experience in the past three years:

- **Employer:** Errand Driver
  **Title:** CEO
  **Dates of Service:** January, 2016 - January, 2019
  **Responsibilities:** Running the company

**Name:** Christiana Winfrey

Christiana Winfrey 's current primary role is with the Issuer.

Positions and offices currently held with the issuer:

- **Position:** COO
  **Dates of Service:** December, 2018 - Present
  **Responsibilities:** Overseeing operations across all markets. Salary: 40k annual; Retains a 3% interest in company.

Other business experience in the past three years:

- **Employer:** Self Employed
  **Title:** Consultancy Work
  **Dates of Service:** January, 2012 - Present
  **Responsibilities:** Self-employed/ Consultancy

**Name:** Cory Smith

Cory Smith 's current primary role is with the Issuer.

Positions and offices currently held with the issuer:

- **Position:** CFO
  **Dates of Service:** January, 2019 - Present
  **Responsibilities:** Handling all of the financials for the company. Salary: 24k (annual); Retains a 2% interest in company.

Other business experience in the past three years:

• Employer: Fabric

Title: Director of Revenue Operations

Dates of Service: August, 2001 - Present

Responsibilities: Drive lead and revenue growth via operational strategy/execution, own all revenue forecasting, develop and monitor KPIs that define success and inform future business decisions

Other business experience in the past three years:

• Employer: Northspyre

Title: Vice President of Revenue Operations and Finance

Dates of Service: August, 2020 - March, 2021

Responsibilities: Align operational strategies with financial goals, Helped drive 37% ARR growth over a 4-month period, Identified new product and upsell opportunities: created workflows and meetings necessary to connect Marketing, Customer Success (CS), and Product with the Sales Team to define a cohesive growth strategy, Developed growth initiatives that also minimized cash burn by reallocating spend from non-performing areas without disrupting operations - Own operational model and metrics to ensure sufficient staff/resources are deployed across the Go to Market Team in order to hit our revenue goals while also allowing for the flexibility to reallocate resources quickly and efficiently - Design dashboards/metrics (e.g. ARR, CAC, LTV/CAC, ACV, conversion rates, upsells, churn, retention, activities per outcome, etc...) that define performance and drive strategic decisions while instilling increased transparency and accountability

Other business experience in the past three years:

• Employer: Redline

Title: Head of Strategic Finance

Dates of Service: April, 2017 - April, 2019

Responsibilities: Responsible for forecasting, budgeting, and analyzing P&L variances

Name: Tim Holmgren

Tim Holmgren's current primary role is with the Issuer.

Positions and offices currently held with the issuer:

• Position: CTO

Dates of Service: August, 2021 - Present

Responsibilities: Overseeing the tech team and handling all day to day tech problems. Salary: 48k (annual); Retains a 3% interest in company.

Other business experience in the past three years:

• Employer: Aftr

Title: CTO

Dates of Service: March, 2019 - May, 2021

Responsibilities: Create and implement technology strategies • Align the company's technology resources with the organization's short- and long-term goals • Identify what technologies can be used to improve the company's products and services • Create and oversee high-level KPIs for IT department • Manage the department's budget

Other business experience in the past three years:

• Employer: Newmeister

Title: Founder

Dates of Service: February, 2016 - September, 2020

Responsibilities: Created and promoted Newsmeister, a daily 3 minute news quiz

## Risk Factors

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

These are the risks that relate to the Company:

### *Uncertain Risk*

An investment in the Company (also referred to as 'we', 'us', 'our', or 'Company') involves a high degree of risk and should only be considered by those who can afford the loss of their entire investment. Furthermore, the purchase of any of the shares should only be undertaken by persons whose financial resources are sufficient to enable them to indefinitely retain an illiquid investment. Each investor in the Company should consider all of the information provided to such potential investor regarding the Company as well as the following risk factors, in addition to the other information listed in the Company's Form C. The following risk factors are not intended, and shall not be deemed to be, a complete description of the commercial and other risks inherent in the investment in the Company.

### *Our business projections are only projections*

There can be no assurance that the Company will meet our projections. There can be no assurance that the Company will be able to find sufficient demand for our product, that people think it's a better option than a competing product, or that we will be able to provide the service at a level that allows the Company to make a profit and still attract business.

### *Any valuation at this stage is difficult to assess*

The valuation for the offering was established by the Company. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment.

### *Terms of subsequent financings may adversely impact your investment*

We will likely need to engage in common equity, debt, or preferred stock financings in the future, which may reduce the value of your investment in the Common Stock. Interest on debt securities could increase costs and negatively impact operating results. Preferred stock could be issued in series from time to time with such designation, rights, preferences, and limitations as needed to raise capital. The terms of preferred stock could be more advantageous to those investors than to the holders of Common Stock. In addition, if we need to raise more equity capital from the sale of Common Stock, institutional or other investors may negotiate terms that are likely to be more favorable than the terms of your investment, and possibly a lower purchase price per share.

### *Management Discretion as to Use of Proceeds*

Our success will be substantially dependent upon the discretion and judgment of our management team with respect to the application and allocation of the proceeds of this Offering. The use of proceeds described below is an estimate based on our current business plan. We, however, may find it necessary or advisable to re-allocate portions of the net proceeds reserved for one category to another, and we will have broad discretion in doing so.

### *Projections: Forward Looking Information*

Any projections or forward looking statements regarding our anticipated financial or operational performance are hypothetical and are based on management's best estimate of the probable results of our operations and will not have been reviewed by our independent accountants. These projections will

be based on assumptions which management believes are reasonable. Some assumptions invariably will not materialize due to unanticipated events and circumstances beyond management's control. Therefore, actual results of operations will vary from such projections, and such variances may be material. Any projected results cannot be guaranteed.

# ***The amount raised in this offering may include investments from company insiders or immediate family members***

Officers, directors, executives, and existing owners with a controlling stake in the company (or their immediate family members) may make investments in this offering. Any such investments will be included in the raised amount reflected on the campaign page.

# ***Developing new products and technologies entails significant risks and uncertainties***

We are currently in the research and development stage and have only manufactured a prototype for our Boaz Bikes Model 3. Delays or cost overruns in the development of our Model 3 and failure of the product to meet our performance estimates may be caused by, among other things, unanticipated technological hurdles, difficulties in manufacturing, changes to design and regulatory hurdles. Any of these events could materially and adversely affect our operating performance and results of operations.

# ***Minority Holder; Securities with Voting Rights***

The security type that an investor is buying has voting rights attached to them. However, you will be part of the minority shareholders of the Company and have agreed to appoint the Chief Executive Officer of the Company (the 'CEO'), or his or her successor, as your voting proxy. You are trusting in management discretion in making good business decisions that will grow your investments. Furthermore, in the event of a liquidation of our company, you will only be paid out if there is any cash remaining after all of the creditors of our company have been paid out.

# ***You are trusting that management will make the best decision for the company***

You are trusting in management discretion. You are buying securities as a minority holder, and therefore must trust the management of the Company to make good business decisions that grow your investment.

# ***This offering involves 'rolling closings,' which may mean that earlier investors may not have the benefit of information that later investors have.***

Once we meet our target amount for this offering, we may request that StartEngine instruct the escrow agent to disburse offering funds to us. At that point, investors whose subscription agreements have been accepted will become our investors. All early-stage companies are subject to a number of risks and uncertainties, and it is not uncommon for material changes to be made to the offering terms, or to companies' businesses, plans or prospects, sometimes on short notice. When such changes happen during the course of an offering, we must file an amended to our Form C with the SEC, and investors whose subscriptions have not yet been accepted will have the right to withdraw their subscriptions and get their money back. Investors whose subscriptions have already been accepted, however, will already be our investors and will have no such right.

# ***Our new product could fail to achieve the sales projections we expected***

Our growth projections are based on an assumption that with an increased advertising and marketing budget our products will be able to gain traction in the marketplace at a faster rate than our current products have. It is possible that our new products will fail to gain market acceptance for any number of reasons. If the new products fail to achieve significant sales and acceptance in the marketplace, this could materially and adversely impact the value of your investment.

# ***We are competing against other recreational activities***

Although we are a unique company that caters to a select market, we do compete against other recreational activities. Our business growth depends on the market interest in the Company over other activities.

# ***We have pending patent approval's that might be vulnerable***

One of the Company's most valuable assets is its intellectual property. The Company's intellectual property such as patents, trademarks, copyrights, Internet domain names, and trade secrets may not be

registered with the proper authorities. We believe one of the most valuable components of the Company is our intellectual property portfolio. Due to the value, competitors may misappropriate or violate the rights owned by the Company. The Company intends to continue to protect its intellectual property portfolio from such violations. It is important to note that unforeseeable costs associated with such practices may invade the capital of the Company due to its unregistered intellectual property.

# ***The cost of enforcing our trademarks and copyrights could prevent us from enforcing them***

Trademark and copyright litigation has become extremely expensive. Even if we believe that a competitor is infringing on one or more of our trademarks or copyrights, we might choose not to file suit because we lack the cash to successfully prosecute a multi-year litigation with an uncertain outcome; or because we believe that the cost of enforcing our trademark(s) or copyright(s) outweighs the value of winning the suit in light of the risks and consequences of losing it; or for some other reason. Choosing not to enforce our trademark(s) or copyright(s) could have adverse consequences for the Company, including undermining the credibility of our intellectual property, reducing our ability to enter into sublicenses, and weakening our attempts to prevent competitors from entering the market. As a result, if we are unable to enforce our trademark(s) or copyright(s) because of the cost of enforcement, your investment in the Company could be significantly and adversely affected.

# ***COVID Shutdown Risk***

Majority of our revenue come from shared rentals. Another covid wave could shut cities down and some cities will halt operations from scooter operators. Though unlikely another shut down could slow expansion efforts!

# ***The Company currently has Outstanding Convertible Notes that will mature in the next year and may affect your investment.***

The Company has a series of Convertible Notes that will mature over the next year. The first matures on January 1, 2023, and the Company currently plans for this note, which is in the amount of $337,500.00, to convert to Common Stock at this time.

# ***The current state of the U.S. and global economy has affected the market and this Offering is a down-round of financing and reflects those changes in the Market over the past few months.***

A down round is a financing in which a company sells shares of its capital stock at a price per share that is less than the price per share it sold shares for in earlier financing. Due to inflation, the ongoing concerns of a recession have affected the valuations of scooter companies. We have lowered our valuation due to the market and valuation of our competitors.

# Ownership and Capital Structure; Rights of the Securities

## Ownership

The following table sets forth information regarding beneficial ownership of the company's holders of 20% or more of any class of voting securities as of the date of this Offering Statement filing.

| Stockholder Name | Number of Securities Owned | Type of Security Owned | Percentage |
| --- | --- | --- | --- |
| Emil Nnani | 6,339,000 | Common Stock | 63.13% |

## The Company's Securities

The Company has authorized Common Stock, Convertible Notes 2019, Convertible Notes from 2020, and Safe notes from 2021. As part of the Regulation Crowdfunding raise, the Company will be offering up to 1,958,761 of Common Stock.

### *Common Stock*

The amount of security authorized is 20,000,000 with a total of 10,041,261 outstanding.

### *Voting Rights*

One vote per share. Please see voting rights of securities sold in this offering below.

### *Material Rights*

## Voting Rights of Securities Sold in this Offering

**Voting Proxy.** Each Subscriber shall appoint the Chief Executive Officer of the Company (the 'CEO'), or his or her successor, as the Subscriber's true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

### *Convertible Notes 2019*

The security will convert into Shares and the terms of the Convertible Notes 2019 are outlined below:

**Amount outstanding:** $337,500.00

**Maturity Date:** January 01, 2023

**Interest Rate:** 8.0%

**Discount Rate:** 0.0%

**Valuation Cap:** $9,500,000.00

**Conversion Trigger:** equity financing round of $2M or more

### *Material Rights*

There are no material rights associated with Convertible Notes 2019.

### *Convertible Notes from 2020*

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

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Is this an amendment?** Yes

**Nature of Amendment:** Issuer is extending their end date and had minor page updates

**Name of Issuer:** Boaz Bikes Inc

**Legal Status:** Corporation

**Jurisdiction of Incorporation/Organization:** DE

**Date of Organization:** 02-03-2021

**Physical Address:** 7600 Chrysler Dr. Unit 101, Detroit, MI, 48211

**Issuer Website:** https://www.boazbikes.com/

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

**Intermediary Name:** StartEngine Capital, LLC

**Intermediary CIK:** 0001665160

**Intermediary File Number:** 007-00007

### Offering Information

**Compensation to Intermediary:** up to 9% percent

**Financial Interest in Issuer:** Three percent (3%) of securities of the total amount of investments raised in the offering, along the same terms as investors.

**Type of Security Offered:** Common Stock

**Number of Securities Offered:** 5154

**Price per Security:** $1.94

**Method for Determining Price:** N/A

**Target Offering Amount:** $9,998.76

**Oversubscription Accepted:** Yes

**Oversubscription Allocation Type:** Other

**Description of Oversubscription:** At issuer's discretion, with priority given to StartEngine Owners

**Maximum Offering Amount:** $3,799,996.34

**Deadline to Reach Target Amount:** 03-01-2023

### Annual Report Disclosure Requirements

**Current Number of Employees:** 30

**Total Assets (Most Recent Fiscal Year):** $798,455.00

**Total Assets (Prior Fiscal Year):** $309,911.00

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $106,767.00

**Cash & Cash Equivalents (Prior Fiscal Year):** $24,899.00

**Accounts Receivable (Most Recent Fiscal Year):** $0.00

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

**Short-Term Debt (Most Recent Fiscal Year):** $0.00

**Short-Term Debt (Prior Fiscal Year):** $0.00

**Long-Term Debt (Most Recent Fiscal Year):** $673,367.00

**Long-Term Debt (Prior Fiscal Year):** $424,229.00

**Revenues/Sales (Most Recent Fiscal Year):** $576,970.00

**Revenues/Sales (Prior Fiscal Year):** $130,979.00

**Cost of Goods Sold (Most Recent Fiscal Year):** $223,799.00

**Cost of Goods Sold (Prior Fiscal Year):** $30,672.00

**Taxes Paid (Most Recent Fiscal Year):** $761.00

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

**Net Income (Most Recent Fiscal Year):** $97,031.00

**Net Income (Prior Fiscal Year):** $-32,245.00

**Jurisdictions Offered:**

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

### Signatures

**Issuer:** Boaz Bikes Inc

**Signature:** Emil Nnani

**Title:** CEO and Director

---

**Signature:** Emil Nnani

**Title:** CEO and Director

**Date:** 01-27-2023

---

**Signature:** Cory Smith

**Title:** CFO

**Date:** 01-27-2023