# EDGAR Filing Document

**Accession Number:** 0001748441
**File Stem:** 0001641172-25-018041
**Filing Date:** 2025-7
**Character Count:** 265041
**Document Hash:** ccc50b82e9cd8bde1cebf4035fea54c1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-018041.hdr.sgml**: 20250707

**ACCESSION NUMBER**: 0001641172-25-018041

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

**PUBLIC DOCUMENT COUNT**: 8

**FILED AS OF DATE**: 20250707

**DATE AS OF CHANGE**: 20250707

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MODE MOBILE, INC.
- **CENTRAL INDEX KEY:** 0001748441
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 473902362
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 1-A POS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 024-12419
- **FILM NUMBER:** 251108953

**BUSINESS ADDRESS:**
- **STREET 1:** ONE EAST ERIE STREET
- **STREET 2:** SUITE 525
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60611
- **BUSINESS PHONE:** 847-999-8739

**MAIL ADDRESS:**
- **STREET 1:** ONE EAST ERIE STREET
- **STREET 2:** SUITE 525
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60611

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Nativ Mobile, LLC
- **DATE OF NAME CHANGE:** 20180730

## Part

*<u>Explanatory Note</u>. This Post-Qualification Amendment amends the Offering Statement of Mode Mobile, Inc. filed with the SEC on July 2, 2024, and is being filed to (i) reduce the bonus shares available to investors in this offering to 20% down from 100% (and simultaneously increasing the number of shares being offered for cash consideration); (ii) remove certain equity perks; and (iii) include the financial statements that would be required by Form 1–A as of the date of this Post-Qualification Amendment, as well as to update and/or replace information contained in the Offering Statement.*

**OFFERING CIRCULAR**

**DATED JULY 7, 2025**

**Mode Mobile, Inc.**

One East Erie Street, Suite 525

Chicago, IL 60611

www.modemobile.com

**Up to**

**286,691,411** **shares of Class AAA Common Stock<sup>(1)</sup>**

**Including up to 105,186,441 Bonus Shares<sup>(7)</sup> and 28,863,891 shares to be sold by selling**

**securityholders<sup>(5)</sup>**

We are offering, on a "best efforts" basis, a maximum of 286,691,411 shares of Class AAA Common Stock, composed of 152,641,079 shares to be offered directly for cash consideration of up to $40,081,624.50, a maximum of 105,186,441 shares to be issued as "Bonus Shares" for no additional cash consideration to eligible investors in this offering based on certain criteria, and 28,863,891 shares to be sold by selling stockholders for up to $7,500,000.00, the proceeds from which will be received directly by the selling securityholders, and not by us.<sup>(5)</sup>

Each purchaser of Class AAA Common Stock is limited to up to one Bonus Share for each Class AAA Common Stock purchased for $0.30 per share. See "Plan of Distribution" for further details.

The minimum investment in this offering is $999.90, or 3,333 shares of Class AAA Common Stock; however, the Company may accept subscriptions for a lower amount in its sole discretion.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Price Per Share to**<br> **the Public** | **Underwriting**<br> **Discounts and** <br> **Commissions, per** <br> **share<sup>(2)</sup>** | **Proceeds to Company**<br> **Before**<br> **Expenses** | **Proceeds to other**<br> **persons <sup>(5)</sup>** |
| Per Share of Class AAA Common Stock<sup>(4)</sup> | $0.300 | $0.01500 | $0.28500 | $0.30 |
| Investor Fee Per Share<sup>(3)</sup> | $0.006 |  |  |  |
| Per Share Plus Investor Fee | $0.306 | $0.01530 | $0.29070 | $0.30 |
| Total Maximum <sup>(8)</sup> | $48533256.99<sup>(6)</sup> | $2, 426662.85 | $38216594.14 | $7500000.00 |

---

(1) The Company is offering up to 152,641,079 shares
 of Class AAA Common Stock directly to investors (the "Cash Shares") for up to a maximum of $40,081,624.50, plus
 up to 105,186,441 of additional shares of Class AAA Common Stock eligible to be issued as Bonus Shares to eligible investors
 at no additional charge based certain criteria. Additionally, 28,863,891 shares of Class AAA Common Stock are being offered by selling
 stockholders of the Company for up to $7,500,000.00, the proceeds from which will be received directly by the selling securityholders,
 and not by our Company. See "Plan of Distribution and Selling Securityholders" for further details.

&nbsp;&nbsp;&nbsp;&nbsp;(2) The Company
 has engaged DealMaker Securities, LLC, member FINRA/SIPC ("DealMaker" or "Dealmaker Securities"), as broker-dealer
 of record, to perform broker-dealer administrative and compliance related functions in connection with this Offering, but not for
 underwriting or placement agent services. DealMaker and its affiliates have already received a monthly fee of $5,000 up to a maximum
 of $45,000 after the Offering commencement, and a $5,000 accountable expense up to $15,000 prior to the Offering commencement .
 Once the Commission has qualified the Offering Statement and this Offering commences, DealMaker will receive a cash commission equal
 to five percent (5.0%) of the amount raised in the Offering based on its sales. There is also a budgeted fee of $330,000 for media
 management and supplementary services on a case-by-case basis, but not to exceed the total. See "Plan of Distribution and Selling
 Security Holders" for more details. In the case of a fully subscribed offering in which all investments are made through DealMaker,
 the maximum amount the Company would pay DealMaker Securities is $2,816,662.85 in commissions, expense reimbursements, and fees.
 To the extent that the Company's officers and directors make any communications in connection with the Offering they intend
 to conduct such efforts in accordance with an exemption from registration contained in Rule 3a4-1 under the Securities Exchange Act
 of 1934, as amended (the "Exchange Act"), and, therefore, none of them is required to register as a broker-dealer.

(3) Investors
 will be responsible for a transaction fee equal to two percent (2.0%) of the purchase price for shares of Class AAA Common Stock
 paid at the time of investment (the "Investor Fee"). Broker will receive commissions on the Investor Fee. If fully subscribed,
 this would represent a maximum commission of $47,581.62. See Plan of Distribution and for additional discussion of this Investor
 Fee. We note that the Investor Fee will only be based on the purchase price for shares in this Offering, and therefore will not be
 affected by any Bonus Shares investors receive in this Offering.

(4) Does
 not include effective discount that would result from the issuance of Bonus Shares. For details of the effective discount, see "Plan
 of Distribution and Selling Securityholders"

(5) Shares
 of Class AAA Common Stock will be sold by selling securityholders of the Company only after the Company has received aggregate gross
 proceeds $5 million as a part of this Offering, which has already been met. This amount represents proceeds that will be received
 directly by the selling securityholders listed in this Offering Circular. See "Plan of Distribution and Selling Securityholders"
 for more information. Shares will be sold in proportion with the Cash Shares so that at no point will the selling securityholder
 shares be greater than 30% of the value of the Class AAA Common Stock issued in this Offering.

(6) The total maximum gross offering proceeds that the
 Company may receive in this Offering is $41,033,256.99 (which includes the Investor Fee). The remainder of this total represents
 the maximum offering proceeds that selling securityholders in this Offering may receive ($7,500,000).

(7) Each purchaser of Class AAA Common Stock is limited to
 up to one Bonus Share for each Class AAA Common Stock purchased for $0.30 per share. Investors will be eligible for Bonus Shares
 regardless of whether shares are purchased from the Company or from Selling Stockholders. See "Plan of Distribution and Selling
 Securityholders" for further details, including the eligibility criteria to receive Bonus Shares in this Offering. We note
 that purchasing shares of Class AAA Common Stock on this offering is a requirement to receive Bonus Shares. Even if investors, existing
 stockholders of our Company or Mode Mobile users and/or members meet the criteria set forth in "Plan of Distribution and Selling
 Securityholders", such as signing up for membership, attending webinars, entering sweepstakes, redeeming rewards points,
 or making referrals, they will not receive any Bonus Shares unless they purchase shares of Class AAA Common Stock for cash in this
 Offering Circular.

(8) The
 following table shows the amount and value of shares sold in this Offering to date:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Share Price** | **Gross Proceeds** | **Total Shares Sold (Including Bonus Shares)** | **Total Cash Shares Sold** | **Selling Securityholder Shares Sold** | **Maximum Shares** | **Offering Circular Supplement** |
| $0.25 | $6523056.25 | 44813688 | 26092225 | 461165 | 300000000 | Initial |
| $0.26 | $36174158.28 | 219168477 | 139131378 | 28402726 | 288461538 | [Number 5](https://www.sec.gov/Archives/edgar/data/1748441/000149315224047447/form253g2.htm) |
| $0.30 | $2302785.47 | 12382748 | 7675952 | 0 | 249107257 | [Number 8](https://www.sec.gov/Archives/edgar/data/1748441/000164117225008128/form253g2.htm) |
| **Total** | $**45000000.00** | **276364913** | **172899555** | **28863891** | **N/A** | **N/A** |

---

The Company is selling shares of Class AAA Common Stock.

The Offering will terminate at the earlier of the date at which the maximum offering amount has been sold or the date at which the offering is earlier terminated by the Company at its sole discretion. At least every 12 months after this Offering has been qualified by the United States Securities and Exchange Commission, the Company will file a post-qualification amendment to include the Company's recent financial statements. The Offering covers an amount of securities that we reasonably expect to offer and sell within two years, although the Offering Statement of which this Offering Circular forms a part may be used for up to three years and 180 days under certain conditions.

This Offering does not have a minimum offering amount. The Company will not utilize a third-party escrow account for this offering, and all funds tendered by investors will be held in a segregated account until investor subscriptions are accepted by the Company and reviewed by DealMaker Securities. Once investor subscriptions are accepted by the Company and reviewed by DealMaker Securities, funds will be deposited into an account controlled by the Company.

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

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

This Offering is inherently risky. See "Risk Factors" on page 6.

Sales of these securities commenced on approximately July 25, 2024.

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

---

| | |
|:---|:---|
| [SUMMARY](#Z_001) | 4 |
| [RISK FACTORS](#Z_002) | 6 |
| [DILUTION](#Z_003) | 11 |
| [USE OF PROCEEDS TO ISSUER](#Z_004) | 16 |
| [OUR BUSINESS](#Z_005) | 16 |
| [THE COMPANY'S PROPERTY](#Z_006) | 18 |
| [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#Z_007) | 18 |
| [DIRECTORS, EXECUTIVE OFFICERS AND SIGNIFICANT EMPLOYEES](#Z_008) | 21 |
| [COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS](#Z_009) | 23 |
| [SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITY HOLDERS](#Z_010) | 24 |
| [INTEREST OF MANAGEMENT AND OTHERS IN CERTAIN TRANSACTIONS](#Z_011) | 24 |
| [SECURITIES BEING OFFERED](#Z_012) | 25 |
| [PLAN OF DISTRIBUTION AND SELLING SECURITY HOLDERS](#Z_013) | 35 |
| [FINANCIAL STATEMENTS](#f_001) | F-1 |
| [INDEX TO EXHIBITS](#RMa_001) | 43 |

---

**Implications of Being an Emerging Growth Company**

The Company is not subject to the ongoing reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act") because it is not registering its securities under the Exchange Act. Rather, it will be subject to the more limited reporting requirements under Regulation A, including the obligation to electronically file:

● annual reports (including disclosure relating to the company's business operations for the preceding three fiscal years, or, if in existence for less than three years, since inception, related party transactions, beneficial ownership of the issuer's securities, executive officers and directors and certain executive compensation information, management's discussion and analysis ("MD&A") of the issuer's liquidity, capital resources, and results of operations, and two years of audited financial statements),

● semi-annual reports (including disclosure primarily relating to the issuer's interim financial statements and MD&A) and

● current reports for certain material events.

In addition, at any time after completing reporting for the fiscal year in which this offering statement was qualified, if the securities of each class to which this offering statement relates are held of record by fewer than 300 persons and offers or sales are not ongoing, the company may immediately suspend the Company's ongoing reporting obligations under Regulation A.

If and when the Company becomes subject to the ongoing reporting requirements of the Exchange Act, as an issuer with less than $1.07 billion in total annual gross revenues during its last fiscal year, it will qualify as an "emerging growth company" under the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act") and this status will be significant. An emerging growth company may take advantage of certain reduced reporting requirements and is relieved of certain other significant requirements that are otherwise generally applicable to public companies. In particular, as an emerging growth company it:

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

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

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

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

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

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

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

Under the JOBS Act, the company may take advantage of the above-described reduced reporting requirements and exemptions for up to five years after the company's initial sale of common equity pursuant to a registration statement declared effective under the Securities Act of 1933, as amended, or such earlier time should it no longer meet the definition of an emerging growth company. Note that this offering, while a public offering, is not a sale of common equity pursuant to a registration statement, since the offering is conducted pursuant to an exemption from the registration requirements. In this regard, the JOBS Act provides that the Company would cease to be an "emerging growth company" if the Company has more than $1.07 billion in annual revenues, has more than $700 million in market value of its common stock held by non-affiliates, or issues more than $1 billion in principal amount of non-convertible debt over a three-year period.

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

**SUMMARY**

The following summary of certain information contained in this Offering Circular is not intended to be complete in itself. The summary does not provide all the information necessary for you to make an investment decision. You are encouraged to review the more detailed information in the remainder of the Offering Circular.

As used in this Offering Circular, unless the context otherwise requires, the terms "Company", "Mode", "we", "our" and "us" refer to Mode Mobile, Inc. and Current (Gibraltar) Limited on a consolidated basis, unless the context indicates otherwise.

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

**Mode Mobile Company Overview**

Mode Mobile, Inc. was founded in 2015 as a Limited Liability Company with a mission to provide people around the world with income and saving opportunities through their everyday mobile activities. Mode Mobile was previously known as Nativ Mobile, Inc. before it changed its name to Mode Mobile, Inc. in 2022. Prior to that, the Company was originally founded as Nativ Mobile, LLC before a name change and conversion a Delaware corporation in 2021. The Company aims to unlock the full potential of the world's most accessible income-generating asset, the smartphone, currently sitting untapped in the pockets of over 7 billion global consumers. These consumers spend 4 trillion hours per year on their smartphones and we believe this presents a massive opportunity to turn people's phones into income streams, just like Uber and Airbnb did with cars and homes. At Mode, we enable customers to earn and save money directly from the things they already do – like playing games, listening to music, watching videos, and even charging and unlocking their phones.

**Selected Risks Associated With The Business**

Our business is subject to a number of risks and uncertainties, including those highlighted in the section titled "Risk Factors" immediately following this summary. These risks include, but are not limited to, the following:

● We have a limited operating history upon which to evaluate our performance and have not yet generated profits or net income.

● We are constantly updating and advancing our technology and there is no guarantee that we will be able to find a product-market fit that will allow us to see consistent profits.

● We conducted a token offering, through our Gibraltar-based subsidiary, which may open us up to future regulatory action or litigation.

● We will be required to raise additional capital in order to continue to develop our technology and commercial ready versions of our product.

● We rely on a small management team to execute our business plan.

● We may need to raise additional capital, which might not be available or might be available only on terms unfavorable to us or our investors.

● There is no current market for any shares of the Company's stock.

● The auditor included a "going concern" note in its audit report.

**Offering Terms**

---

| | |
|:---|:---|
| **Securities Offered by the Company** | Maximum of 152,641,079 shares of Class AAA Common Stock at $0.30 per share for up to $40,081,624.50, plus up to 105,186,441 additional shares of Class AAA Common Stock eligible to be issued as Bonus Shares for no additional consideration. See "Plan of Distribution and Selling Securityholders" for more information on the eligibility criteria to receive Bonus Shares, which will only be offered to investors in this Offering. |
| **Securities Offered by Selling Securityholders** | Maximum of 28,863,891 shares of Class AAA Common Stock for up to $7,500,000 to be received by the selling securityholders. |
| **Minimum Investment** | The minimum investment in this offering is $999.90 or 3,333 shares of Class AAA Common Stock. |
| **Securities outstanding before the Offering (as of December 31, 2025):** |  |
| Class AAA Common Stock | 91172203 |
| Class A Common Stock | 646825014 |
| Class B Common Stock <sup>(1)</sup> | 230450400 |
| Class C Common Stock | 10993629 |
| Series Seed Preferred Stock | 353712906 |
| **Securities outstanding after the Offering (assuming the maximum number of shares of Class AAA Common Stock are sold in this offering).<sup>(2)</sup>** |  |
| Class AAA Common Stock | 384105522 |
| Class A Common Stock | 646825014 |
| Class B Common Stock<sup>(1)</sup> | 230450400 |
| Class C Common Stock | 10993629 |
| Series Seed Preferred Stock | 353712906 |
| **Use of Proceeds** | The proceeds of this Offering will be used for product development, payroll, marketing, and general overhead. See the "Use of Proceeds" section of this Offering Circular for further details. |

---

(1) Includes up to 209,713,228 shares issuable upon the exercise of options for Class B Common Stock

(2) Assumes all 152,641,079 of Class AAA Common Stock offered for cash by the Company are sold, plus to the maximum of 105,186,441 Bonus Shares are issued in this Offering. Additionally, assumes all 28,863,891 shares of Class AAA Common Stock are sold by selling stockholders in this Offering. These shares of Class AAA Common Stock would be newly issued as a result of conversion by the following holders: 16,385,810 shares of Class A Common Stock, 7,214,959 shares of Series Seed Preferred Stock, and options exercisable for 1,399,230 shares of Class B Common Stock. This would therefore have the effect of reducing the number of issued and outstanding Class A Common Stock, Series Seed Preferred Stock, and Class B Common Stock by those amounts.

The SEC requires that we identify risks that are specific to our business and financial condition. We are still subject to all the same risks that all companies in our 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.

**RISK FACTORS**

**<u>Risks Related to Our Company</u>**

**We have a limited operating history upon which to evaluate our performance and have generated minimal profits and net income.**

While we were first organized in 2015, we still have a limited operating history and have yet to consistently generate operating profits or net income. We have been generating revenue since 2020, but we also continue to iterate on our products and technology and as such, cannot guarantee that our prior operating history will be indicative of our future operating results, or future products will be able to consistently generate revenue and operating profits.

 **Our audited consolidated financial statements for the fiscal years ended December 31, 2024 and 2023, have been prepared on a going concern basis.**

 ****

The Company has suffered recurring losses from operations and, as of December 31, 2024, had a net capital deficiency that raises substantial doubt about its ability to continue as a going concern. The Company's ability to continue as a going concern in the next twelve months following the date of the consolidated financial statements is dependent upon its ability to produce revenues and/or obtain financing sufficient to meet current and future obligations and deploy such to produce profitable operating results.

**If the Company cannot raise sufficient funds, it will not succeed.** 

The Company may receive up to a maximum of approximately $45 million from the sale of Class AAA Common Stock in this Offering, with additional proceeds going to selling securityholders. Even if the maximum amount is raised, the Company is likely to need additional funds in the future in order to grow, and if it cannot raise those funds for whatever reason, including reasons relating to the Company itself or to the broader economy, it may not survive. If the Company manages to raise only the minimum amount of funds sought, it will have to find other sources of funding for some of the plans outlined in "Use of Proceeds."

**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.

**Our subsidiary conducted a token offering which may open us up to future regulatory action or litigation.**

In 2018, our Gibraltar-based subsidiary, Current (Gibraltar) Limited, conducted and completed a security token offering where we offered $CRNC tokens to investors in consideration for their investments, the proceeds of which are to be used to build out a rewards earning system. The token offering was conducted pursuant to the registration exemption under Rule 506(b) of Regulation D. There is a chance that the rewards earning system may never be completed, and as a result, the holders of the $CRNC token may pursue litigation against us, and may seek damages to recoup the amount invested in the Company in this offering. Additionally, if the SEC or other regulatory bodies determine that the token offering constituted the sale of securities without compliance with applicable exemptions, the Company may face regulatory enforcement actions, fines, and legal proceedings. Such actions could result in significant financial and reputational harm, as well as diversion of management resources to address regulatory compliance matters. Investors should be aware that regulatory scrutiny and legal challenges in the cryptocurrency space are ongoing, and adverse regulatory outcomes could materially and adversely affect the Company's operations and financial condition. The Company may also be required to undertake remedial measures, cease certain activities, or restructure its operations to comply with securities laws, which could further impact its business and financial performance.

**The Company depends on key personnel and faces challenges recruiting needed personnel.**

The Company's future success depends on the efforts of a small number of key personnel. These key personnel include our Chief Executive Officer, Dan Novaes, and our Chief Technology Officer, Kiran Panesar. In addition, due to its limited financial resources and the specialized expertise required across marketing, business development, and product development, it may not be able to recruit the individuals needed for its business needs. There can be no assurance that the Company will be successful in attracting and retaining the personnel the Company requires to operate and be innovative.

**Competitors may be able to call on more resources than the Company.** 

While the Company believes that its platform and product are unique, it is not the only way that its customers and user base can earn supplemental income. Additionally, competitors may replicate our business ideas and produce directly competing products. These competitors may be better capitalized than us, which would give them a significant advantage.

**Our new products and services could fail to achieve the market acceptance.**

Our future success is partially based on an assumption that our new products will be able to gain traction in the marketplace. It is possible that these new products will fail to gain market acceptance for any number of reasons. If our products fail to achieve significant traction and acceptance in the marketplace, this could materially and adversely impact the value of your investment.

**Expansion of our platform to a larger number of users will pose challenges.**

As the number of customers using our platform grows, we will face challenges associated with managing our growth. For example, we may need to license rights from content developers. There is no guarantee that we will be able to license such rights at prices that are advantageous to the Company.

**The Company is vulnerable to hackers and cyber-attacks.**

As an internet-based business, we may be vulnerable to hackers who may access the data of the users of our platform. Further, any significant disruption in service on Mode Mobile or in its computer systems could reduce the attractiveness of the platform and result in a loss of investors and users interested in using our platform. Further, we rely on a third-party technology provider to provide some of our back-up technology. Any disruptions of services or cyber-attacks either on our technology provider or on Mode Mobile could harm our reputation and materially negatively impact our financial condition and business.

**Any breach of our users' data could impose liability upon the Company.**

If we or third parties with which we do business were to fall victim to successful cyber-attacks or experience other cybersecurity incidents, including the loss of individually identifiable customer or other sensitive data, we may incur substantial costs and suffer other negative consequences, which may include liability for harms caused to our users from such a breach, or increased cybersecurity and other insurance premiums.

**Risks Associated with the Company's Acquisition Strategy**

**We may fail to realize potential benefits from future acquisitions, which could adversely affect our business, financial condition, and results of operations.**

Our growth strategy may include acquiring complementary technologies, services, products, and other assets. We may not be able to successfully integrate acquired assets or realize the anticipated benefits of such acquisitions. The successful integration of acquired assets requires significant time and resources, and we may incur significant costs with such integration. Additionally, the process of integrating acquired assets may disrupt our existing operations and relationships with employees, customers, and vendors, potentially resulting in the loss of key personnel, customers, or vendors.

**We may not be able to identify or complete suitable acquisitions.**

Our ability to continue to grow through asset acquisitions depends upon, among other things, our ability to identify suitable acquisition candidates, negotiate acceptable acquisition terms, and obtain any required financing. We compete with other potential acquirers for the same targets, which may increase acquisition costs or prevent us from acquiring assets we target. If we are unable to identify or complete suitable acquisitions, we may not be able to achieve our desired rate of growth.

**Our acquisitions may result in significant costs, including unexpected or additional costs.**

Any potential acquisition may result in significant costs, including costs relating to professional services fees, financing costs, and costs of integrating acquired assets. In addition, we may face challenges in integrating technological operations and platforms. If we are unable to manage these costs effectively or if we face greater-than-anticipated costs, our acquisitions may not yield the financial benefits we expect.

**We may incur indebtedness to finance our acquisitions.**

Acquisition costs may be in excess of the funds we are seeking to raise in this Offering. As a result, we may be required to incur indebtedness, which could adversely impact our credit ratings, limit our ability to obtain additional financing, increase our borrowing costs, and limit our flexibility to plan for, or react to, changes in our business or market conditions.

**We may fail to conduct sufficient due diligence or to accurately assess the value of acquisition targets.**

We may face challenges in conducting adequate due diligence on acquisition targets, particularly in competitive bidding situations where time constraints limit our investigation. As a result, we may not accurately assess the value of acquisition targets or identify issues that could result in financial loss, increased costs, or other adverse consequences that could harm our business, financial condition, or operating results.

**Acquisitions may result in dilutive issuances of our equity securities.**

We may issue equity securities to finance our acquisitions, which may result in dilution to our stockholders. In addition, if the acquired assets do not generate the financial results we expect, impairment charges could adversely affect our financial performance.

**<u>Risks Related to the Securities in this Offering</u>**

**There is no current market for any shares of the Company's stock.**

There is no formal marketplace for the resale of the Company's Class AAA Common Stock being sold in this Offering. Investors should assume that they may not be able to liquidate their investment for some time or be able to pledge their shares as collateral. The Company currently has no plans to list any of its shares on any OTC or similar exchange. It is also unlikely that the Company will ever go public or get acquired by a bigger company. That means the money you paid for these securities could be tied up for a long time.

**We have not set a minimum offering amount for this Offering.**

We have not set a minimum offering amount for this Offering and funds received will not be deposited into a third-party escrow account prior to their release to the Company. This means that we will accept and have access to funds as they are received, but we may never raise enough to execute the business plan or even cover the costs of the Offering.

**Our Company is controlled by few shareholders.**

A substantial majority of the Company's outstanding voting securities are held by one shareholder, who can therefore exert significant control over the Company. There are no guarantees that the position of this shareholder will always coincide with the opinion and interests of the other shareholders of the Company.

**Investors in this Offering are purchasing Securities with No Voting Rights.**

The Class AAA Common Stock that we are offering to investors in this offering has no voting rights. This means that you will have no rights in dictating on how the Company will be run. You are trusting in management discretion in making good business decisions that will grow your investment.

**The Company has issued and outstanding shares of preferred stock with rights superior to those of the Class AAA Common Stock being offered in this Offering, including a liquidation preference.**

The Company has Series Seed Preferred Stock issued and outstanding that entitles its holders to a liquidation preference in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company or certain other events (such as, but not limited to, a merger, reorganization or consolidation). In such an event, the holders of shares of Series Seed Preferred Stock then outstanding will be entitled to be paid out of the assets of the Company available for distribution to its stockholders before any payment will be made to the holders of any classes of the Company's Common Stock by reason of their ownership thereof, an amount per share equal to the greater of (i) the Series Seed Original Issue Price (which is currently is $0.01345679), plus any dividends declared but unpaid thereon, or (ii) such amount per share as would have been payable had all shares of Series Seed Preferred Stock been converted into Common Stock immediately prior to such event. As such, it is possible that, in such a liquidation event, investors in this Offering would not receive any distributions of cash or other assets from the Company. See "Securities Being Offered" for more information on the liquidation preference.

**Our potential issuance of Bonus Shares may result in a discounted offering price being paid by certain investors in this Offering.**

Certain investors may be entitled to Bonus Shares in this Offering, which results in an effective discount on any shares purchased. These shares will immediately dilute the value of your shares. Therefore, the value of shares of investors who pay the full price in this Offering will be diluted by investments made by investors entitled to these shares, who will effectively pay less per share. Investors may also suffer immediate dilution if they qualify for a lesser amount of Bonus Shares than other investors, who will effectively pay less per share.

**There is fixed number of Bonus Shares, and therefore certain investors may not receive Bonus Shares even if they meet the criteria to receive Bonus Shares.**

We have authorized up to 105,186,441 shares of Class AAA Common Stock to be issued as Bonus Shares to investors in this Offering. The Company will not issue more Bonus Shares than this amount. It is possible that, prior to the Company raising the maximum offering amount in this offering of $47,581,624.50 it will have issued all 105,186,441 Bonus Shares. If that occurs, investors in this offering that meet the eligibility requirements to receive Bonus Shares will not receive them. As of the date of this offering circular, there are 1,721,083 Bonus Shares remaining that may be issued in this Offering.

**There is no guarantee of return on investment.** 

There is no assurance that a purchaser will realize a return on its investment or that it will not lose its entire investment. For this reason, you should not invest in this Offering if you are unable to withstand losing your entire investment. Each purchaser should read this Offering Circular and all exhibits carefully and should consult with its own attorney and business advisor prior to making any investment decision.

**The Company's management has discretion as to use of proceeds.**

The proceeds from this Offering will be used for the purposes described under "Use of Proceeds." The Company reserves the right to use the funds obtained from this Offering for other similar purposes not presently contemplated which it deems to be in the best interests of the Company and its investors in order to address changed circumstances or opportunities. As a result of the foregoing, the success of the Company will be substantially dependent upon the discretion and judgment of management with respect to application and allocation of the net proceeds of this Offering. Investors for the Class AAA Common Stock hereby will be entrusting their funds to the Company's management, upon whose judgment and discretion the investors must depend.

**The Company's future fundraising may affect the rights of investors.**

In order to expand, the Company is likely to raise funds again in the future, either by offerings of securities or through borrowing from banks or other sources. The terms of future capital raising, such as loan agreements, may include covenants that give creditors greater rights over the financial resources of the Company.

**Our valuation and the offering price of our Class AAA Common Stock have been established internally and are difficult to assess.** 

The Company has set the price of its Class AAA Common Stock at $0.30 per share, plus a 2% Investor Transaction Fee, see "Securities Being Offered" for further details on this fee. Valuations for companies at this stage are generally purely speculative. Our valuation has not been validated by any independent third party and may decrease precipitously in the future. It is a question of whether you, the investor, are willing to pay this price for a percentage ownership of a start-up company. The issuance of additional shares of Common Stock, or additional option grants may dilute the value of your holdings. You should not invest if you disagree with this valuation. See "Dilution" for more information.

**The Investor Transaction Fee may not count toward your cost basis for tax purposes.** 

The IRS and/or another relevant tax authority may consider the price of the share before including the Investor Transaction Fee as the cost basis for determining any gain or loss at a realization event. You should discuss with your tax advisor the appropriate way to determine the relevant tax obligation.

**The Company may fundraise at a price per share lower than offered to investors in this Offering.**

The Company may seek to raise additional capital in other offerings of its equity securities (including, but not limited to, offerings under Rule 506(c) of Regulation D). In any such offerings, the Company may offer shares of its Class AAA Common Stock at a price per share lower than what is available to investors in this Offering, and could also result in additional dilution to investors in this Offering.

**The subscription agreement that investors must sign to invest in this Offering has a forum selection provision that requires disputes be resolved in state or federal courts in the State of Delaware, regardless of convenience or cost to you, the investor.**

**Our Amended and Restated Certificate of Incorporation includes a forum selection clause, which could limit our stockholders' ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees or agents.**

Our Amended and Restated Certificate of Incorporation requires that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware will be the sole and exclusive forum for (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim for breach of a fiduciary duty owed by any of our directors, officers, employees or agents to us or our stockholders, (iii) any action asserting a claim arising pursuant to any provision of the Delaware General Company Law, our Amended and Restated Certificate of Incorporation, as amended or (iv) any action asserting a claim governed by the internal affairs doctrine, in each case subject to said Court of Chancery having personal jurisdiction over the indispensable parties named as defendants therein.

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

Investors in this Offering will be bound by the subscription agreement, which includes a provision under which investors waive the right to a jury trial of any claim they may have against the Company arising out of or relating to the agreement, including any claims made under the federal securities laws. By signing the agreement, the investor warrants that the investor has reviewed this waiver with his or her legal counsel, and knowingly and voluntarily waives the investor's jury trial rights following consultation with the investor's legal counsel.

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

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

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

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

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

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

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

**DILUTION**

Dilution means a reduction in value, control or earnings of the shares the investor owns.

**Immediate dilution**

An early-stage company typically sells its shares (or grants options over its shares) to its founders and early employees at a very low cash cost, because they are, in effect, putting their "sweat equity" into the Company. When the Company seeks cash investments from outside investors, like you, the new investors typically pay a much larger sum for their shares than the founders or earlier investors, which means that the cash value of your stake is diluted because each share of the same type is worth the same amount, and you paid more for your shares than earlier investors did for theirs.

The following table compares the price that new investors are paying for their shares with the effective cash price paid by existing shareholders, giving effect to full conversion of all outstanding stock options, and assuming that the shares are sold at $0.30 per share. The schedule presents shares and pricing as issued and reflects all transactions since inception, which gives investors a better picture of what they will pay for their investment compared to the Company's insiders than just including such transactions for the last 12 months, which is what the SEC requires.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |<br>**Date**<br>**Issued** |<br>**Issued**<br>**Shares** |  |<br>**Potential**<br>**Shares** |<br>**Total Issued**<br>**and Potential**<br>**Shares** | **Effective Cash Price**<br>**per Share at Issuance or**<br>**Potential**<br>**Conversion** |
| Class A Common Stock | 2021 | 646825014 |  | 0 | 646825014 | $-.000 |
| Class B Common Stock | 2021 | 20737172 |  | 0 | 20737172 | $0.00872 |
| Class C Common Stock | 2023 | 10993629 |  | 0 | 10993629 | $0.02600 |
| Series Seed Preferred Stock | 2021 | 353712906 | (1) | 0 | 353712906 | $0.00493 |
| Class AAA Common Stock | 2023-2024 | 91172203 |  | 0 | 91172203 | $0.07335 |
| Warrants for Class AAA Common Stock | 2023 | 0 |  | 3721875 | 3721875 | $0.01977 |
| <u>Options for Class B Common Stock</u> |  |  |  |  |  |  |
| $0.0069 Strike Price | 2023 | 0 |  | 201877519 | 201877519 | $0.00690 |
| $0.01 Strike Price | 2023-2024 | 0 |  | 7835709 | 7835709 | $0.01000 |
| Total Common Share Equivalents |  | 1123440924 |  | 213435103 | 1336876027 | $0.00781 |
| Shares already issued in this Offering |  | 247501022 | (2)(3) | 0 | 247501022 | $0.15151 |
| Investors in Class AAA Common Stock, assuming full amount raised |  | 10326498 |  | 0 | 10326498 | $0.25000 |
| Total After Inclusion of this Offering |  | 1381268444 |  | 213435103 | 1594703547 | $0.03168 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Assumes conversion of all Series Seed Preferred Stock to Class A Common Stock

(2) Does not include selling securityholders

(3) Approximately 276,364,913 shares have already been issued
 in this offering, 28,863,891 of which have been sold by selling securityholders.

The following table demonstrates the dilution that new investors will experience upon investment in the Company. The price per share in this table reflects the price of Class AAA Common Stock in the Offering of $0.30. This table uses the Company's audited net tangible book value as of December 31, 2024 of $10,540,831 which is derived from the net equity of the Company in the December 31, 2024 audited financial statements. This tangible net book value is then adjusted to contemplate conversion of all other convertible instruments outstanding at current that would provide proceeds to the Company, which assumes exercise of all warrants and stock options outstanding. While not every outstanding warrant or option may be exercised, we believe that it is important to identify the potential dilution that could occur upon the exercise of all existing securities issued by the Company. To further illustrate the dilution that investors may experience, the second and third tables illustrate dilution including authorized, but unissued stock options, and solely on the basis of outstanding equity securities, respectively.

The offering costs assumed in the following table includes up to $2,816,662.85 in commissions and other fees to Dealmaker Securities, LLC, as well as legal and accounting fees incurred for this Offering. The table presents three scenarios for the convenience of the reader: a $5 million raise from this Offering, a $16 million raise from this Offering, and a fully subscribed $47,581,625 million raise from this Offering.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **$5 million** |  | **$16 million** |  | **$40 million** |  |
| **On Basis of Full Conversion of Issued Instruments** | **Raise** |  | **Raise** | (1) | **Raise** | (1) |
| Price Per Share | $0.30 |  | $0.30 |  | $0.30 |  |
| New Shares Issued | 36474139 | (2) | 111411320 | (2) | 257827520 | (2) |
| Capital Raised | $5000000 |  | $16000000 |  | $40081625 |  |
| Less: Offering Costs | $(605500) |)(3) | $(1070500) |)(3) | $(1925530) | (3) |
| Net Offering Proceeds | $4394500 |  | $14929500 |  | $38156094 |  |
| Net Tangible Book Value Pre-Financing | $12080015 | (4) | $12080015 | (4) | $12080015 | (4) |
| Net Tangible Book Value Post-Financing | $16474515 |  | $27009915 |  | $50236109 |  |
| Shares Issued and Outstanding Pre-Financing | 1395246987 | (5)(6) | 1395246987 | (5)(6) | 1395246987 | (5)(6) |
| Post-Financing Shares Issued and Outstanding | 1373632930 | (7) | 1448570111 | (7) | 1594986311 | (7) |
| Net Tangible Book Value Per Share Prior To Offering | $0.01 |  | $0.01 |  | $0.01 |  |
| Increase/(Decrease) Per Share Attributable to New Investors | $0.00 |  | $0.01 |  | $0.02 |  |
| Net Tangible Book Value Per Share After Offering | $0.01 |  | $0.02 |  | $0.03 |  |
| Dilution Per Share To New Investors ($) | $0.29 |  | $0.28 |  | $0.27 |  |
| Dilution Per Share to New Investors (%) | 96.00 | % | 93.78 | % | 89.50 | % |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Excludes
 proceeds from selling securityholders

(2) The
 $5 million and $16 million scenarios are actuals as these amounts have already been hit in this Offering. The $40 million
 scenario assumes approximately $45 million of gross proceeds that have already been raised in this Offering, $7.5 million of which
 have gone to selling security holders. It also assumes that an additional $2,581,624 will be raised in this Offering at
 $0.30 per share and a maximum of 20% bonus shares.

(3) Assumes
 DealMaker costs, which include commission of 5%, less 2% investor transaction fee as well as $60,500 in fixed offering costs and
 a maximum of $390,000 paid for other services. Includes commissions paid on selling securityholders.

(4) Net
 Tangible Book Value is adjusted for conversion proceeds for the outstanding stock options and warrants discussed in (5). The Net
 Tangible Book Value without the adjustment is equal to $10,540,831.

(5) Assumes
 conversion of all issued preferred shares to common stock and conversion of 209,713,228 outstanding stock options (providing proceeds
 of $1,465,621 to net tangible book value) and conversion of 3,721,875 outstanding warrants (providing $73,563 to net tangible book
 value).

(6) Through
 December 31, 2024, 58,088,196 shares of Class AAA Common Stock have been sold in this Offering.

(7) Excludes
 58,088,196 shares of Class AAA Common Stock as these are already included in the Pre-Financing number as mentioned in (6)

The next table is the same as the previous, but adds in consideration of authorized but unissued stock options, presenting the fully diluted basis. This adds 37,549,600 pre-financing shares outstanding and is not adjusted for potential conversion proceeds on the hypothetical exercise of these options.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **On Basis of Full Conversion of Issued Instruments and Authorized but Unissued Stock Options** | **$5 million Raise** |  | **$16 million Raise** | (1) | **$40** **million Raise** | (1) |
| Price Per Share | $0.30 |  | $0.30 |  | $0.30 |  |
| New Shares Issued | 36474139 | (2) | 111411320 | (2) | 257827520 | (2) |
| Capital Raised | $5000000 |  | $16000000 |  | $40081625 |  |
| Less: Offering Costs | $(605500) |)(3) | $(1070500) |)(3) | $(1925530) |)(3) |
| Net Offering Proceeds | $4394500 |  | $14929500 |  | $38156094 |  |
| Net Tangible Book Value Pre-Financing | $12080015 | (4) | $12080015 | (4) | $12080015 | (4) |
| Net Tangible Book Value Post-Financing | $16474515 |  | $27009515 |  | $50236109 |  |
| Shares Issued and Outstanding Pre-Financing | 1432796587 | (5)(6) | 1432796587 | (5)(6) | 1432796587 | (5)(6) |
| Post-Financing Shares Issued and Outstanding | 1411182530 | (7) | 1486119711 | (7) | 1632535911 | (7) |
| Net Tangible Book Value Per Share Prior To Offering | $0.01 |  | $0.01 |  | $0.01 |  |
| Increase/(Decrease) Per Share Attributable to New Investors | $0.00 |  | $0.01 |  | $0.02 |  |
| Net Tangible Book Value Per Share After Offering | $0.01 |  | $0.02 |  | $0.03 |  |
| Dilution Per Share To New Investors ($) | $0.29 |  | $0.28 |  | $0.27 |  |
| Dilution Per Share to New Investors (%) | 96.11 | % | 93.94 | % | 89.74 | % |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Excludes proceeds from selling securityholders

(2) The $5 million and $16 million scenarios
 are actuals as these amounts have already been hit in this Offering. The $40 million scenario assumes approximately $45 million of
 gross proceeds that have already been raised in this Offering, $7.5 million of which have gone to selling security holders. It also
 assumes that an additional $2,581,624 will be raised in this Offering at $0.30 per share and a maximum of 20% bonus shares.

(3) Assumes DealMaker costs, which include commission
 of 5%, less 2% investor transaction fee as well as $60,500 in fixed offering costs and a maximum of $390,000 paid for other services. Includes
 commissions paid on selling securityholders.

(4) Net Tangible Book Value is adjusted for
 conversion proceeds for the outstanding stock options and warrants discussed in (5). The Net Tangible Book Value without the adjustment
 is equal to $10,540,831.

(5) Assumes conversion of all issued preferred
 shares to common stock and conversion of 209,713,228 outstanding stock options (providing proceeds of $1,465,621 to net tangible
 book value) and conversion of 3,721,875 outstanding warrants (providing $73,563 to net tangible book value) and conversion of authorized,
 but unissued stock options of 37,549,600 (no adjustment for proceeds contemplated in the calculations).

(6) Through December 31, 2024, 58,088,196 shares
 of Class AAA Common Stock have been sold in this Offering.

(7) Excludes 58,088,196 shares of Class AAA
 Common Stock as these are already included in the Pre-Financing number as mentioned in (6)

The final table is the same as the previous two, but removes the assumptions of conversion of options, and warrants and consideration of authorized but unissued stock options, instead only presenting issued shares (common shares, plus the assumption of conversion of all issued and outstanding preferred shares).

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **$5 million** |  | **$16 million** |  | **$40** **million** |  |
| **On Issued and Outstanding Basis** | **Raise** |  | **Raise** | (1) | **Raise** | (1) |
| Price Per Share | $0.30 |  | $0.30 |  | $0.30 |  |
| New Shares Issued | 36474139 | (2) | 111411320 | (2) | 257827520 | (2) |
| Capital Raised | $5000000 |  | $16000000 |  | $40081625 |  |
| Less: Offering Costs | $(605500) |)(3) | $(1070500) |)(3) | $(1925530) |)(3) |
| Net Offering Proceeds | $4394500 |  | $14929500 |  | $35654500 |  |
| Net Tangible Book Value Pre-Financing | $10540831 |  | $10540831 |  | $10540831 |  |
| Net Tangible Book Value Post-Financing | $14935331 |  | $25470331 |  | $48696925 |  |
| Shares Issued and Outstanding Pre-Financing | 1181811884 | (4)(5) | 1181811884 | (4)(5) | 1181811884 | (4)(5) |
| Post-Financing Shares Issued and Outstanding | 1160197827 | (6) | 1235135008 | (6) | 1381551208 | (6) |
| Net Tangible Book Value Per Share Prior To Offering | $0.00 |  | $0.00 |  | $0.00 |  |
| Increase/(Decrease) Per Share Attributable to New Investors | $0.00 |  | $0.01 |  | $0.02 |  |
| Net Tangible Book Value Per Share After Offering | $0.01 |  | $0.02 |  | $0.04 |  |
| Dilution Per Share To New Investors ($) | $0.29 |  | $0.28 |  | $0.26 |  |
| Dilution Per Share to New Investors (%) | 95.71 | % | 93.13 | % | 88.25 | % |

---

(1) Excludes proceeds from selling securityholders

(2) The $5 million and $16 million scenarios are actuals as these amounts
 have already been hit in this Offering. The $40 million scenario assumes approximately $45 million of gross
 proceeds that have already been raised in this Offering, $7.5 million of which have gone to selling security holders. It
 also assumes that an additional $2,581,624 will be raised in this Offering at $0.30 per share and a maximum of 20% bonus shares.

(3) Assumes DealMaker costs, which include commission of
 5%, less 2% investor transaction fee as well as $60,500 in fixed offering costs and a maximum of $390,000 paid for other services.
 Includes commissions paid on selling securityholders.

(4) Assumes conversion of all issued preferred shares to common stock

(5) Through December 31, 2024, 58,088,196 shares of Class AAA Common
 Stock have been sold in this Offering.

(6) Excludes 58,088,196 shares of Class AAA Common Stock as these are
 already included in the Pre-Financing number as mentioned in (5)

**Future Dilution**

Another important way of looking at dilution is the dilution that happens due to future actions by a company. The investor's stake in a company could be diluted due to the company issuing additional shares, whether as part of a capital-raising event, or issued as compensation to the company's employees or marketing partners. In other words, when the company issues more shares, the percentage of the company that you own will go down, even though the value of the company may go up. You will own a smaller piece of a larger company. This increase in number of shares outstanding could result from a stock offering (such as an initial public offering, another crowdfunding round, a venture capital round, or an angel investment), employees exercising stock options, or by conversion of certain instruments (e.g. convertible bonds, preferred shares or warrants) into stock.

If the company decides to issue more shares, an investor could experience value dilution, with each share being worth less than before, and control dilution, with the total percentage an investor owns being less than before. There may also be earnings dilution, with a reduction in the amount earned per share (though this typically occurs only if the company offers dividends, and most development stage companies do not pay dividends for some time).

The type of dilution that hurts early-stage investors most occurs when the company sells more shares in a "down round," meaning at a lower valuation than in earlier offerings. An example of how this might occur is as follows (numbers are for illustrative purposes only):

● In June 2014, Jane invests $20,000 for shares that represent 2% of a company valued at $1 million.

● In December, the company is doing very well and sells $5 million in shares to venture capitalists on a valuation (before the new investment) of $10 million. Jane now owns only 1.3% of the company, but her stake is worth $200,000.

● In June 2015, the company has run into serious problems, and in order to stay afloat, it raises $1 million at a valuation of only $2 million (the "down round"). Jane now owns only 0.89% of the company, and her stake is worth only $26,660.

If you are making an investment expecting to own a certain percentage of the company or expecting each share to hold a certain amount of value, it's important to realize how the value of those shares can decrease by actions taken by the company. Dilution can make drastic changes to the value of each share, ownership percentage, voting control, and earnings per share. In some cases, dilution can also completely wipe out the value of investments made by early investors, without any person being at fault.

Investors should understand how dilution works and the availability of anti-dilution protection.

**USE OF PROCEEDS TO THE ISSUER**

Please see the table below for a summary our intended use of proceeds from this Offering under various raise scenarios:

---

| | | | |
|:---|:---|:---|:---|
|  | | | **Maximum Offering** |
| **Total Gross Cash Proceeds** | $**5000000** | $**20000000** | $**47581625** |
| *To Selling Securityholders* | $*0* | $*4000000* | $*7500000* |
| *Commissions & Variable Expenses* | $*645000* | $*1410000* | $*2816663* |
| *Transaction Fee Charged To Investors* | $*-100000* | $*-400000* | $*-951632* |
| *Fixed Costs* | $*60500* | $*60500* | $*60500* |
| **Total Net Proceeds** | $**4394500** | $**14929500** | $**38156094** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Use of Net Proceeds** | **Amount** | **%** | **Amount** | **%** | **Amount** | **%** |
| *Payroll* | $1098625 | 25% | $1809875 | 25% | $9539024 | 25% |
| *Product Development* | $1098625 | 25% | $1809875 | 20% | $7631219 | 20% |
| *Marketing & Advertising* | $1098625 | 25% | $1809875 | 20% | $9539024 | 25% |
| *General & Administrative* | $1098625 | 25% | $1809875 | 15% | $5732414 | 15% |
| *Asset Acquisitions* | $0 | 0% | 2985900 | 20% | 5732414 | 15% |
| **Total Use of Proceeds** | $**4394500** |  | $**14929500** |  | $**38156094** |  |

---

Because the Offering is a "best efforts," we may close the Offering without sufficient funds for all the intended purposes set out above, or even to cover the costs of this Offering.

The above table assumes commissions and expenses payable to DealMaker, which, include commissions of 5% as well as $60,500 in fixed offering costs and a maximum of $390,000 paid for other services, less the 2% Investor Fee that will be paid by investors. The table above also includes commissions paid on shares sold by selling securityholders.

The Company reserves the right to change the above use of proceeds if management believes it is in the best interests of the Company.

**OUR BUSINESS**

**Company Operations & Product Overview**

Mode Mobile, Inc. was founded in 2015 as a Limited Liability Company by Dan Novaes, CEO, and Kiran Panesar, CTO, with a mission to provide people around the world with income and saving opportunities through their everyday mobile activities. Mode Mobile was previously known as Nativ Mobile, Inc. before a name change in 2022, and prior to that, was originally founded as Nativ Mobile, LLC before a name change in 2021. The Company aims to unlock the full potential of the world's most accessible income-generating asset, the smartphone, currently sitting untapped in the pockets of over 7 billion global consumers. These consumers spend 4 trillion hours per year on their smartphones and we believe this presents a massive opportunity to turn people's phones into income streams, just like Uber and Airbnb did with cars and homes. At Mode, we enable customers to earn and save money directly from the things they already do – like playing games, listening to music, watching videos, and even charging and unlocking their phones.

**Products**

The Company's Mode Earn App enables users the ability to earn rewards on a single platform for interacting with digital content on their smartphones. Mode Mobile drives user engagement and monetizes user activity primarily through digital marketing revenue from advertising partners. The Company shares a portion of generated revenue with users and also facilitates earnings and savings for users directly from advertising brands. Since 2019, Mode has generated over $75 million in revenue from advertisers and continues to grow annually.

Mode Mobile also offers the Mode EarnPhone which is a smartphone embedded with the Company's EarnOS software for a more integrated and enhanced earnings experience. The ModePhone's software is similar to the Mode Earn App, but includes more functionality and lives in the form of an Operating System. The Mode EarnPhone has all the specs one would want from a phone – like a triple lens camera, fingerprint and face ID, and a 6.52 inch HD screen, but unlike other smartphones, it was developed to make money for its user. The Mode EarnPhone is available at www.modephone.com and a variety of online retailers in the United States such as Amazon, Walmart, and Best Buy. We are currently growing our subscription channels, as well as partnerships with major telecom carriers, while also turning towards international expansion.

In 2023, the Company launched a new subscription software product, called the Mode Earn Club, whereby our users pay a monthly fee for access to our rewards ecosystem. In this new product, the Company keeps 100% of the subscription revenue and the user receives up to 100% faster earnings within EarnOS. This product is already generating revenue for the Company, but is still in beta phase and may change over time based on its performance with our existing user base and in the market.

**Trademarks**

The Company has protected its trademarks, which is a key part of its business operations and overall corporate strategy. A summary of its trademarks can be found below:

---

| | | | |
|:---|:---|:---|:---|
| **Name** | **Status** | **Number** | **Filing Date** |
| Earn As You Go | Live | 90072702 | July 24, 2020 |
| Earn As You Go: Activate Earn Mode | Live | 90072727 | July 24, 2020 |
| Earn OS | Live | 97021733 | September 10, 2021 |
| Earn UI | Live | 97023073 | September 21, 2021 |
| Mode Logo | Live | 90815642 | July 7, 2022 |
| The Phone that Pays | Live | 90823313 | July 12, 2021 |
| Earn Mode | Live | 97023080 | September 21, 2021 |
| Mode Earn App | Live | 97177172 | December 17, 2021 |
| Earn App | Live | 97177401 | December 17, 2021 |
| Mode Earn Phone | Live | 97178560 | December 17, 2021 |
| Mode Earn OS | Live | 97181074 | December 20, 2021 |

---

**Key Suppliers**

The Company sources its EarnPhone from Skyworth, a manufacturer based in China. The Company does not have an exclusive relationship with this supplier and can easily source new partners to manufacture the EarnPhone.

**Competition**

The market for rewards-based mobile apps continues to grow and evolve with numerous companies offering consumers the ability to earn cash-back and rewards for various online activities. Competitors include Fetch Rewards, Ibotta, Rakuten, and Swagbucks. Mode Mobile offers an integrated hardware and software solution, the Mode EarnPhone, that rewards users for everyday mobile activities on their smartphones.

While the majority of smartphone manufacturers do not offer an integrated rewards-based operating system like the EarnOS, we do also view smartphone manufacturers like Apple, Samsung, Nokia, and others as indirect competitors to the Mode EarnPhone.

**Customers**

Our customer base, since founding, consists of over 40,000,000 users spread across over 170 countries, who have downloaded the Mode Earn App or purchased the Mode EarnPhone. To date, our users and customers have earned and saved over $350,000,000 by interacting with our technology. The Company typically acquires customers by advertising on social media and search channels such as Google and Meta (Facebook and Instagram).

The Company also counts members of its Mode Earn Club as customers, each of which pay anywhere from $1 to $20 per month to be a member of the Club and earn additional savings and benefits.

The Company also sells its EarnPhone through certain third party retailers, which then sell the EarnPhone to their customers. These third-party retailers include BestBuy, Amazon, Walmart, Newegg, Adorama, Groupon, Mason, Dailysteals, eBay, Reebelo, and UnbeatableSale. The Company uses an in-house business development team, led by its CEO, to acquire new retailers and distribution channels.

The Company also views its advertising partners as customers. The Company has agreements with these advertising partners whereby the partners pay the Company based on how the Company's customers and users interact with various websites and mobile applications. No single advertising partner makes up more than 15% of the Company's advertising revenue.

**Current (Gibraltar) Limited & $CRNC Token Issuance**

The Company also has an affiliate, Current (Gibraltar) Limited ("CGL"), a Gibraltar company organized in 2018. The Company owns 100% of the voting shares of CGL however it has no economic interest it. CGL was organized to develop a rewards network and protocol, the purpose of which was intended to be used as a rewards distribution mechanism for Mode Mobile and its user base (the "$CRNC Network"). In order to build out this network, the Company, via CGL, conducted and completed a security token offering utilizing exemptions from registration under the Securities Act provided by Rule 506(b) of Regulation D and Regulation S to non-US investors. In that offering, CGL offered $CRNC tokens to investors in consideration for their investments. The proceeds from the token offering were approximately $26 million, which was to be used to build out the $CRNC Network. Due to a disclosed delay in delivering tokens to investors resulting from regulatory uncertainties associated with blockchain and cryptocurrency projects, the investments were executed pursuant to "Simple Agreement(s) for Future Tokens" ("SAFTs"), which, among other things, contemplated the Company delivering $CRNC tokens to investors in advance of the $CRNC Network launch.

The further buildout of the EARN'M Network (f/k/a $CRNC Network) will be carried out by a foundation established by CGL. In Q4 2024, the Company, through its affiliate, Current (Gibraltar) Limited, launched the $EARNM token (f/k/a $CRNC token) on various international cryptocurrency exchanges. The timing of the exchange launches corresponded with the completion of all aspects of the EARN'M ecosystem. Thus, all remaining obligations of the Company with respect to the $EARNM token have been satisfied. Further, and in support of the EARN'M ecosystem and the $EARNM token, the EARNM Foundation was established on or around March 18, 2025. Since that date, the EARNM Foundation, not the Company, has had full control over the governance and all other aspects of the future direction of the EARN'M ecosystem and the $EARNM token.

For purposes of clarification, while the EARNM foundation was established by CGL, it is not deemed a related party. This is because now that the EARN'M Network has launched, its operations have become vested in the foundation itself. The foundation's purpose is to allow stakeholders of the EARN'M Network to govern and direct the ecosystem without a centralized overseer like CGL. CGL had some level of oversight at the EARN'M Foundation's launch , however this oversight ceased once EARN'M stakeholders assume control of foundation governance.

The Company may engage with the foundation opportunistically as an advertising partner – i.e. to advertise Mode Mobile on the EARN'M Network, and vice versa. However, any relationship between the Company and the foundation (and/or CGL, the entity that established the foundation) in this capacity would be substantially the same as other third-party advertising-based partnerships of the Company. As of the date of this Annual Report, no written agreement is in place between the Company and CGL or the foundation to serve as an advertising partner. Finally, the EARN'M Network is a stand-alone separate rewards distribution system, and is completely distinct from the Mode Mobile point-based rewards system.

**Employees**

The Company currently has 55 team members (18 full-time employees and 37 full-time contractors), and 2 part-time contractors. These team members are spread out across 18 countries. Approximately 35% of the Company's team members are based in the United States and all of the Company's executive officers and directors are based in the United States.

**Regulation**

By virtue of handling our user's data, we are subject to numerous statutes related to data privacy, and additional legislation and regulation should be anticipated in every jurisdiction in which we operate. Example federal (US) and European statutes we could be subject to are:

*GDPR*

The EU-wide General Data Protection Regulation imposes onerous accountability obligations requiring data controllers and processors to maintain a record of their data processing and policies. It requires data controllers to implement more stringent operational requirements for processors and controllers of personal data, including, for example, transparent and expanded disclosure to data subjects (in a concise, intelligible and easily accessible form) about how their personal information is to be used, imposes limitations on retention of information, increases requirements pertaining to health data and pseudonymized (i.e., key-coded) data, introduces mandatory data breach notification requirements, and sets higher standards for data controllers to demonstrate that they have obtained valid consent for certain data processing activities. Fines for non-compliance with the GDPR will be significant—the greater of €20 million or 4% of global turnover.

*ePrivacy Directive*

The ePrivacy directive sets out the rules relating to the processing of personal data across public communications networks. This directive requires business to ensure consent requests are made and that consent is received from the user before the use of cookies is made. Businesses must communicate the privacy rules with accurate and specific information regarding the data contained in the cookie. Information must be communicated before the consent requests are made, in plain language. Organizations must ensure that users are able to withdraw consent in the same simple manner as the initial consent request.

*CRPA and CCPA*

The CRPA and CCPA define and establish various rights that consumers residing in California have over the privacy of their data along with the responsibilities of businesses when collecting personal information. It requires businesses that control the collection of consumers' personal information to inform them of the category, purpose and duration the business intends to retain such information. It lists the consumers' right to correct their data and have their data deleted. Customers may also exercise their right to limit the sale or sharing of their personal or sensitive personal information. Fines for non-compliance can range from $100 to $750 per consumer per incident. Additionally, in certain cases the California Privacy Protection Agency may impose administrative fines ranging from $2,500 to $7,500 for each violation.

**Acquisition Strategy**

The Company intends to make strategic acquisitions of assets over the coming 6-12 months as a part of its growth strategy. These acquisitions will likely include the Company acquiring specific complimentary assets, and/or acquiring key technology, know-how, and personnel. These acquisitions are likely to be undertaken with a mixture of both cash and stock. Potential targets include assets associated with businesses/apps in the rewards & loyalty space, gaming portfolios, launcher and lock screen products and other earnings-related verticals.

When reviewing potential acquisition targets, the Company plans to look for the following:

● Product compatibility

● Year over year revenue growth

● Current profitability

● Strong user growth and retention

● Attractive user acquisition metrics (ROAS, LTV/CAC ratio etc.)

The purpose of these acquisitions would be to further the Company's business, both in the form of acquiring new customers, acquiring more employees, and/or acquiring new technology.

**THE COMPANY'S PROPERTY**

Mode Mobile, Inc. is a fully remote, U.S.-based company and as such, does not have a central headquarters from which it conducts its operations. The Company has limited fixed assets consisting mostly of computer hardware used by employees. The Company's current mailing address is One East Erie Street, Suite 525, Chicago, IL 60611.

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

The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes included in this Offering Circular. The following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. The audited financials and overall financial discussion in this Offering cover the consolidated financials for both Mode Mobile, Inc., which was incorporated in 2015 and Current (Gibraltar) Limited, which was incorporated in 2018.

 **

***For the Fiscal Years Ending December 31, 2024 and 2023***

 **

Mode Mobile generated net revenues of $12,165,275 during the fiscal year ending December 31, 2024 compared to $8,226,428 during the fiscal year ending December 31, 2023, representing a 47.88% increase, which was the Company believes was primarily the result of increased sales and marketing activities, as well as additional revenues from new products, including the Mode Earn Club (which launched in 2023) and newsletter advertising revenue. The majority of the revenues the Company earned in both periods was earned through the Company's Mode Earn App, where Mode Mobile gets paid by advertising partners, brands, and other technology providers when Mode users interact with digital content on their smartphones. The Mode Earn Club is another growing driver of revenue in the business. The Company had costs of net revenues of $1,110,492 and $956,463, respectively, during the fiscal years ending December 31, 2024 and 2023. Cost of net revenues includes payment processing fees, EarnPhone hardware costs, website hosting, and revenue share payouts. The Company's gross margin for the fiscal year ending December 31, 2024 was 90.87% compared to 88.37% for the year ended December 31, 2023**.** The improvement in gross margin was primarily related to increased income in 2024 realized from the launch of new revenue streams in 2023, including the Mode EarnClub, as well as the Company's efforts to cut less profitable market and customer segments.

Operating expenses of the Company for both the years ended December 31, 2024 and 2023 primarily consisted of customer acquisition costs (i.e. sales and marketing) and employee and contractor compensation related to software development and general and administrative expenses. Operating expenses during the fiscal year ending December 31, 2024 amounted to $14,790,807, a 10.81% increase from $13,348,026 during the fiscal year ending December 31, 2023. Sales and marketing expenses consisted primarily of digital advertising costs on social media and search platforms such as Meta and Google, which totaled $5,842,705 during the fiscal year ending December 31, 2024 and $4,906,434 during the fiscal year ending December 31, 2023, or a 19.08% increase period over period. This increase in sales and marketing costs was related to the Company's decision to increase advertising spend to grow more profitable segments of its product line, including the Mode Earn App and Mode Earn Club, among others. Sales and marketing expenses also include rewards that are paid out to Mode Mobile users. Additionally, the Company recognized research and development expenses of $4,240,451 for the year ending December 31, 2024 versus $5,190,493 for the year ending December 31, 2023, which was an 18.30% decrease year over year. The decrease in research and development expenses was primarily driven by the Company hiring less contractor labor to assist with product development. General and administrative expenses consisted primarily of executive and operational payroll costs, professional services, and overhead expenses, which totaled $4,707,651 for the year ending December 31, 2024 versus $3,244,007 for the year ending December 31, 2023, representing a 45.12% increase. The increase across general and administrative expenses was primarily related to increased hiring across full-time hires and contractors, as well as additional operational expenses to support the Company's previously launched product offerings and planned future product development.

In addition to the above, the Company recognized total other income of $478,042 during the fiscal year ending 2024, versus $2,719,528 during the fiscal year ending 2023, which was a decrease of 82.42% period over period. Of the total other income recognized, the biggest driver of the decrease was related to approximately $465,000 in Employee Retention Credits received during 2023 that was not received in 2024, and a one-time $1, 6952,511 entry to other income in fiscal year 2023 that was the result of the Company removing all liability it has from the issuance of $CRNC (EARN'M) tokens, which was recorded as a gain.

As a result of the foregoing, the Company realized a net loss of $3,257,982 for the fiscal year ending December 31, 2024 – a 2.99% decrease in net loss compared to a net loss of $3,358,533 during the fiscal year ending December 31, 2023.

**Liquidity and Capital Resources**

As of December 31, 2024, Mode's cash-on-hand was $6,886,520 compared to $2,524,045 as of December 31, 2023. As of December 31, 2024, the Company had no outstanding debt, other than an accounts payable balance of $1,461,512 as of December 31, 2024, compared to an accounts payable balance of $783,483 as of December 31, 2023, an increase of 86.5% year over year. Additionally, the Company had an accrued expenses balance of $3,055,817 as of December 31, 2024. The Company also had accounts receivable of $2,528,982 as of December 31, 2024.

While the Company is generating revenues, the Company has recognized a net loss over the last two fiscal years, and continues to rely on investor financing to support its operations, including its Regulation A offering, which launched on July 24, 2024. The Company plans to continue leveraging Regulation A and other forms of equity crowdfunding to finance its operating losses as well support growth over the coming years.

As of the date of this Offering Circular, the Company has collected approximately $45,000,000 in gross proceeds from its ongoing Regulation A Offering that was initially qualified on July 25, 2024. Prior to the completion of an offering, offering costs are capitalized by the Company. The deferred offering costs are charged to additional paid-in capital or as a discount to debt, as applicable, upon the completion of an offering or to expense if the offering is not completed. As of December 31, 2024, the Company had capitalized $4,454,737 in deferred offering costs.

Subsequent to December 31, 2024, on January 24, 2025, the Company completed the purchase of an app from a Turkish entity, Eywin Bilgi Teknolojileri, for total cash consideration of $6,583,781 at closing date. The asset that was purchased is a lock screen app for Android OS that will be integrated into the Mode Mobile ecosystem.

Additionally, in April 2025, the Company received an investment of $3 million from a venture capital firm in the media industry in exchange for shares of Class AAA Common Stock. This investment was in the form of media credits, which Mode Mobile can use towards marketing.

**Trend Information**

Historically, the majority of the revenue the Company has earned has been through the Company's Mode Earn App, where Mode Mobile gets paid by advertising partners, brands, and other technology providers when Mode users interact with digital content on their smartphones. Mode Mobile has also generated minimal revenue from sales of the Mode EarnPhone. However, with the introduction of new products like the Mode Earn Club, the Company now has a more diverse mix of revenue streams with stronger gross margins. Throughout 2024, the Company continued to focus on scale and engagement, including investing in more profitable revenue initiatives, including Mode Earn Club and advertising sales revenue, as well as expanding into international markets. In 2025, the Company expects it will continue to grow revenue, gross margin, and ultimately reach a point of profitability. At the same time, the Company plans to invest more in our product quality, infrastructure costs, and expanded product offerings.

**DIRECTORS, EXECUTIVE OFFICERS AND SIGNIFICANT EMPLOYEES**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **Position** | **Age** | **Term in Office** | **Approximate hours per week for part-time employees** |
| **Executive Officers** |  |  |  |  |
| Dan Novaes | CEO | 36  | June 2015 to Present | Full-time |
| Kiran Panesar | CTO | 31  | June 2015 to Present | Full-time |
| Prakash Ramachandran | CFO | 60 | January 2024 to Present | Full-time |
| Justin Hines | General Counsel | 55 | December 2018 to Present | Full-time |
| Kathy DeKam | Chief People Officer | 64 | May 2021 to Present | Full-time |
| **Directors** |  |  |  |  |
| Dan Novaes | Director | 36 | June 2015 to Present |  |
| Ross Holdren | Director | 41 | February 2021 to Present | 1 |
| Mark Lawrence | Director | 39 | February 2021 to Present | 1 |

---

**Dan Novaes, CEO and Director**

Dan co-founded Mode Mobile with Kiran Panesar and has been CEO of the Company since June 2015. During that time, Dan has been responsible for setting the vision and direction for the Company, leading and inspiring a team of executives and managers, developing and executing strategic plans, and representing the organization to stakeholders and the public. Additionally, Dan has played a vital role in building relationships with key partners and vendors, ensuring the Mode Mobile brand is well represented, and the organization is compliant with all applicable laws and regulations. Dan has also been a driving force behind the culture of excellence that can be found throughout the organization and inspiring its team members to reach their highest potential. Dan has followed his entrepreneurial passion throughout his career. From an early age, he used his skills to establish a variety of businesses across international e-commerce, consumer products, and media. Dan is one of the youngest members of YPO and the Chicago Economic Club. He is a graduate of the Indiana Kelley School of Business. Prior to co-founding Mode Mobile, Dan was the co-founder and CEO of MobileX Labs, an application design and development company, from 2012 to 2015. Before then, he spent 10 years as the founder of Elekteks, a consumer electronics ecommerce retailer, and was the inventor of iFlask, the world's first "smart" flask.

**Kiran Panesar, CTO**

Kiran co-founded the Company with Dan Novaes and began as CTO in June 2015. Kiran is responsible for leading the development and implementation of technology strategies to ensure the success of the organization. He oversees the development of new technologies and systems that will enhance the users' experience, supports our engineering and product teams, while also focusing on costs and efficiency. Kiran has over 10 years software development experience and is a product and engineering leader with a passion for building cross-functional teams to solve problems. Kiran has a strong track record of successful product launches, including Instaliker, a project that helped millions of people boost their social media following. Before Mode Mobile, Kiran was the co-founder and CTO of MobileX Labs, an application design and development company, with tens of millions of monthly online users, where Kiran oversaw the building and maintenance of infrastructure. Prior to that, Kiran was a co–founder and Programmer for daptppt Designs, a software development company for iPhone and gaming applications.

**Prakash Ramachandran, CFO**

Prakash Ramachandran currently serves as the CFO at Mode Mobile and is responsible for overseeing the Company's financial & business operations functions, including developing & implementing financial plans, policies, and procedures, budgeting & forecasting, and overseeing accounting and financial reporting. Prior to working at Mode Mobile, Prakash served as CFO of Crownpeak Technology from June 2021 to 2023, a PE funded SaaS business. He helped to grow the company's revenue during his tenure, primarily through acquisition initiatives. Before that, Prakash worked as an EVP and CFO for Digital Reasoning, an AI and cognitive computing company from December 2015 to June 2021. During that time, he successfully secured two rounds of financing, oversaw an acquisition of a medium-sized healthcare technology company, and contributed to Digital Reasoning's acquisition by Smarsh, Inc. Prakash previously worked as the CFO for Polyera Corporation from 2011 to 2015, and held various VP and CFO positions in different organizations prior to that, showcasing diverse financial expertise. Prakash has a Bachelor of Commerce from Madras University and a Master of Science in Management from Stanford University Graduate School of Business. He is a Chartered Accountant from India as well as a Chartered Management Accountant of the U.K.

**Kathy DeKam, Chief People Officer**

Kathy joined Mode Mobile as Chief People Officer on May 4, 2021. During her time in that role, she has been responsible for overall strategic direction and management of all human resources activities to support the organization's goals and objectives. This has included performance management, talent acquisition, training and development, and team engagement. Additionally, she is responsible for fostering an open and inclusive culture, and supporting diversity and inclusion. Kathy leads the Company-wide OKR process and is responsible for leading the IT function, which includes technical support and maintenance for computer hardware, software, networks, systems integration, and development and adherence to IT policies and procedures

Before joining the Mode Mobile team, Kathy served from 2020 to 2021 as Chief People and Culture Officer at Qualifacts, a SaaS and web-based electronic health record company with 430+ employees in the U.S. and Peru and $70M+ annual revenue. Her role prior to that ran from 2015 to 2020, when she served as an EVP and Chief People and Culture Officer (5 ½ years) and Co-COO (1 ½ years) at Digital Reasoning, an artificial intelligence cognitive computing company with 180+ employees in the U.S., U.K. and Singapore and $38M+ annual revenue. While with Digital Reasoning, she participated in multiple capital fundraising events totaling $100M, and Smarsh's acquisition of the company. From 2011 to 2015, Kathy was the Director of Human Resources (3 ½ years) and Chief of Staff (6 months) at Video Gaming Technologies, a casino video game developer and manufacturing company with 650+ employees in the U.S. and Mexico and $65M annual revenue. She participated in Aristocrat's acquisition of Video Gaming Technologies, resulting in a company with a total of 6,000+ employees in 103 countries and $3B annual revenue. Kathy is also a U.S. Navy veteran with six years of service.

**Justin Hines, General Counsel & Secretary**

Judd joined Mode Mobile as General Counsel on December 3, 2018. In this role, Judd is responsible for corporate governance, corporate compliance, and legal risk management and ensuring the organization upholds the highest standards of professional excellence. Additionally, Judd monitors and reviews legal and regulatory developments to ensure compliance with all applicable laws and regulations, prepares, reviews, and negotiates contracts, agreements, and other legal documents, and advises on the Company's investment initiatives. Judd is an experienced attorney, with over 24 years of experience in legal, compliance, and investment advisory roles, including Senior Associate at Katten Muchin Rosenman , an AmLaw 100, global law firm. He holds a BA in American Studies from Fairfield University and a Juris Doctorate from Emory University School of Law. Prior to working at Mode Mobile, Judd served from 2014 to 2018 as General Counsel and Chief Compliance Officer at Hayden Royal, an investment banking and finance company with $3B under management. From 2010 to 2014 Judd was the Managing Director at Majestic Capital Advisors, an investment advisory services firm. Prior to that, Judd was a director from 2005 to 2010 with the Macquarie Group, a global financial services company with $600B under management.

**Ross Holdren, Director**

Ross has been on the Board of Directors for Mode Mobile since February, 2021. In addition to his role at Mode Mobile, Ross currently serves as the CEO of Dose, a position he has held since February 2019. Ross has also been on the Board of Directors of Dose since August 2018. Ross is also a Principal at Garland Capital Group, where he has been since July 2013. Ross holds a Bachelor of Science in Business Administration from College of Charleston and a Master in Business Administration from INSEAD.

**Mark Lawrence, Director**

Mark has been on the Board of Directors for Mode Mobile since February, 2021. In addition to his role at Mode Mobile, Mark is the Founder and CEO of SpotHero, a position he has held since October 2010. Mark holds a Bachelor of Science in Finance and a Bachelor of Arts in Spanish from Bradley University.

**COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS**

For the year ended December 31, 2024, the Company compensated its executive officers and directors as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name** | **Capacities in which<br> compensation was<br> received** | **Cash**<br> **Compensation** | **Other Compensation** |  | **Total**<br> **Compensation** |
| Dan Novaes | CEO, Director | $341630.12 | $— |  | $— |
| Kiran Panesar | CTO | $241560.51 | $— |  | $— |
| Justin Hines | General Counsel | $188056.20 | $— |  | $— |
| Kathy DeKam | Chief People Officer | $298543.68 | $— |  | $— |
| Prakash Ramachandran | CFO | $283542.10 | $153595.48 | (1) | $437137.58 |
| Ross Holdren | Director | $0 | $— |  | $0 |
| Mark Lawrence | Director | $0 | $— |  | $0 |

---

 

*(1) Mr. Ramachandran began his role on January 15, 2024. In 2024, he was granted 22,260,214 stock options under the Company's 2021 Plan, which are exercisable into shares of the Company's Class B Common Stock. This represents the cash value of those stock options, calculating by multiplying all granted options by a strike price of $0.0069.* 

For the year ended December 31, 2024, none of our Directors (3) received cash compensation for their services as Directors of the Company.

 ****

***2021 Equity Incentive Plan***

The Company has adopted the 2021 Equity Incentive Plan ("2021 Plan"), which provides for the grant of shares of stock options and restricted stock awards to employees, non-employee directors, and non-employee consultants. The number of shares authorized by the 2021 Plan was 243,000,000 shares of Class B Common Stock as of December 31, 2024. The options have a term of ten years. The amounts granted each calendar year to an employee or non-employee is limited depending on the type of award. Stock options comprise all of the awards granted since the 2021 Plan's inception. Stock options granted under the 2021 Plan typically vest between immediate and four-year periods. As of December 31, 2024, there were 37,549,600 shares of Class B Common Stock available for future issuance under the 2021 Plan, 209,713,228 options issued and outstanding, and 21,562,013 options already converted into Class B Common Stock.

**Employment Agreements with Executive Officers**

*Kiran Panesar Employment Agreement* 

The Company and Kiran Panesar are each party to an employment agreement dated April 1, 2019. Pursuant to the employment agreement, in exchange for Mr. Panesar's services as CTO, Mr. Panesar is entitled to a starting base salary of $150,000 per year, which may be increased each year based on his performance, as well as an annual bonus not to exceed 20% of the base salary then in effect under the agreement. The agreement renews each year on March 31, unless earlier terminated. The Company may terminate Mr. Panesar's employment for cause with 10 days notice, or without cause with 6 months' notice. If terminated without cause, Mr. Panesar will be entitled to all compensation otherwise due during that 6 month period. The agreement also contains customary indemnification provisions, whereby the Company agrees to indemnify Mr. Panesar against certain liabilities and expenses that he may become subject to in performance of his duties, subject to certain limitations.

A copy of the employment agreement between Kiran Panesar and the Company is filed as an exhibit to the offering statement of which this Offering Circular forms a part.

*Kathy DeKam Employment Agreement*

The Company and Kathy DeKam are each party to an employment agreement dated May 4, 2021. Pursuant to the employment agreement, in exchange for Ms. DeKam's services as Chief People Officer, Ms. DeKam is entitled to a starting base salary of $220,000 per year, which may be adjusted each year based on performance, as well as an annual bonus not to exceed 15% of the base salary then in effect under the agreement. Ms. DeKam is also eligible to receive revenue-linked bonuses depending on the revenues generated by the Company. Ms. DeKam also received a grant of 1,550,000 $CRNC Tokens, which will vest in equal installments over four years, as well as 52,891 options under the Company's 2021 Plan. Ms. DeKam's employment is "at-will", and either the Company or Ms. DeKam may terminate the agreement at any time for any reason – but if Ms. DeKam is terminated without cause, or resigns without "good reason", she shall be entitled to severance pay of 3 months' salary. The agreement contains certain customary non-disclosure provisions, whereby Ms. DeKam cannot disclose certain proprietary information of the Company, and also contains non-disparagement clauses. The agreement also contains customary indemnification provisions, whereby the Company agrees to indemnify Mr. DeKam against certain liabilities and expenses that he may become subject to in performance of her duties, subject to certain limitations.

A copy of the employment agreement between Kathy DeKam and the Company is filed as an exhibit to the offering statement of which this Offering Circular forms a part.

**SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITY HOLDERS**

The following information on the security ownership of management and others is as of December 31, 2024:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Title of Class** | **Name and address of beneficial owner** |  | **Amount and nature of beneficial ownership** | **Amount and nature of beneficial ownership acquirable** | **Percent of class <br> **(3)** |
| **Officers and Directors** |  |  |  |  |  |
| Class A Common Stock | Dan Novaes | (1) | 525371542 | 0 | 80.6% |
| Class A Common Stock | Kiran Panesar | (1) | 106698870 | 0 | 16.5% |
| Class B Common Stock | All Officers & Directors  | (1) | 0 | 55391746 | 20.7% |
| Class C Common Stock | All Other Officers & Directors | (1) | 0 | 225184 | 2.0% |
| **Other Significant Holders** |  |  |  |  |  |
| Series Seed Preferred Stock | Garland Fund I LLC | (1)(2) | 166115772 | 0 | 47.0% |

---

(1) The
 following address may be used for each holder: One East Erie Street, Suite 525, Chicago, IL 60611

(2) Garland
 Fund I LLC is controlled by Ross Holdren who also serves as a Director of the Company

(3) Based on 646,825,014 shares of Class A Common Stock, 268,000,000
 shares of Class B Common Stock, 10,993,629 shares of Class C Common Stock, and 353,712,906 shares of Series Seed Preferred Stock
 outstanding as of December 31, 2024.

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

The Company has employment agreements in place with certain of its executive officers, which are described in the "Compensation of Directors and Executive Officers" section of this Offering Circular.

As of the date of this Offering Circular, other than the agreements described above, the Company is not aware of any transactions with related parties that are required to be disclosed.

**SECURITIES BEING OFFERED**

**General**

The Company is offering 152,641,079 shares of Class AAA Common Stock directly, plus up to 105,186, 441 additional shares of Class AAA Stock eligible to be issued as Bonus Shares. 28,863,891 shares of Class AAA Common Stock are being offered by selling securityholders of the Company.

The following description summarizes important terms of our capital stock. This summary does not purport to be complete and is qualified in its entirety by the provisions of our Amended and Restated Certificate of Incorporation filed with the State of Delaware on May 16, 2024 (our "Amended and Restated Certificate of Incorporation") and our Bylaws, copies of which have been filed as Exhibits to the Offering Statement of which this Offering Circular is a part. For a complete description of our capital stock, you should refer to our Amended and Restated Certificate of Incorporation, and our Bylaws, and applicable provisions of the Delaware General Corporation Law.

Under our Amended and Restated Certificate of Incorporation, our authorized capital stock consists of:

3,005,150, 0000 shares of Common Stock, $0.0001 par value per share

● 2,125,000,000 shares designated as Class A Common Stock

● 268,000,000 shares designated as Class B Common Stock

● 12,150,000 shares designated as Class C Common Stock

● 600,000,000 shares designated as Class AAA Common Stock

388,800,000 shares of Preferred Stock, $0.0001 par value per share

● 388,800,000 shares designated as Series Seed Preferred Stock

**Class AAA Common Stock**

***Voting Rights***

The shares of Class AAA Common Stock have no voting rights of any kind, except as may be otherwise required by law.

***Conversion***

Each share of Class AAA Common Stock automatically converts into one (1) share of Class A Common Stock immediately upon the earlier of (x) the closing of a firmly underwritten public offering pursuant to an effective registration statement under the Securities Act covering the offer and sale of Common Stock for the account of the Company or (y) an election by the Board of Directors of the Company to effect any such conversion. Each share of Class B Common stock is convertible into one (1) share of Class AAA Common Stock at the option of the shareholder.

***Dividend Rights***

The Company will not declare, pay or set aside any dividends on shares of any other class or series of capital stock of the Company (other than dividends on shares of Common Stock payable in shares of Common Stock) unless (in addition to the obtaining of any consents required elsewhere in the Certificate of Incorporation) the holders of the Series Seed Preferred Stock then outstanding will first receive, or simultaneously receive, a dividend on each outstanding share of Series Seed Preferred Stock in an amount at least equal to (i) in the case of a dividend on Common Stock or any class or series that is convertible into Common Stock, that dividend per share of Series Seed Preferred Stock as would equal the product of (A) the dividend payable on each share of such class or series determined, if applicable, as if all shares of such class or series had been converted into Common Stock and (B) the number of shares of Common Stock issuable upon conversion of a share of Series Seed Preferred Stock, in each case calculated on the record date for determination of holders entitled to receive such dividend or (ii) in the case of a dividend on any class or series that is not convertible into Common Stock, at a rate per share of Series Seed Preferred Stock determined by (A) dividing the amount of the dividend payable on each share of such class or series of capital stock by the original issuance price of such class or series of capital stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to such class or series) and (B) multiplying such fraction by an amount equal to the Series Seed Original Issue Price.

***Liquidation Rights***

In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company or Deemed Liquidation Event, after the payment in full of all Preferred Liquidation Amounts (which equaled $4,759,840 as of December 31, 2023) required to be paid to the holders of shares of Series Seed Preferred Stock, the remaining assets of the Company available for distribution to its stockholders will be distributed among the holders of shares of Class A, Class B, Class C, and Class AAA Common Stock, pro rata based on the number of shares held by each such holder.

"Deemed Liquidation Event" is defined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;a) a
 merger, reorganization or consolidation

b) the
 sale, lease, transfer, exclusive license or other disposition by the Company or any subsidiary of the Company or all or substantially
 all of the assets or intellectual property of the Company and its subsidiaries

Additional information can be found in the Company's Amended and Restated Certificate of Incorporation.

**Class B Common Stock**

***Voting Rights***

The shares of Class B Common Stock have no voting rights of any kind, except as may be otherwise required by law.

***Conversion***

Each share of Class B Common Stock automatically converts into one (1) share of Class A Common Stock immediately upon the earlier of (x) the closing of a firmly underwritten public offering pursuant to an effective registration statement under the Securities Act covering the offer and sale of Common Stock for the account of the Company or (y) an election by the Board of Directors of the Company to effect any such conversion. Each share of Class C Common Stock is convertible into one (1) share of Class AAA Common Stock at the option of the shareholder.

***Dividend Rights***

The Company will not declare, pay or set aside any dividends on shares of any other class or series of capital stock of the Company (other than dividends on shares of Common Stock payable in shares of Common Stock) unless (in addition to the obtaining of any consents required elsewhere in the Certificate of Incorporation) the holders of the Series Seed Preferred Stock then outstanding will first receive, or simultaneously receive, a dividend on each outstanding share of Series Seed Preferred Stock in an amount at least equal to (i) in the case of a dividend on Common Stock or any class or series that is convertible into Common Stock, that dividend per share of Series Seed Preferred Stock as would equal the product of (A) the dividend payable on each share of such class or series determined, if applicable, as if all shares of such class or series had been converted into Common Stock and (B) the number of shares of Common Stock issuable upon conversion of a share of Series Seed Preferred Stock, in each case calculated on the record date for determination of holders entitled to receive such dividend or (ii) in the case of a dividend on any class or series that is not convertible into Common Stock, at a rate per share of Series Seed Preferred Stock determined by (A) dividing the amount of the dividend payable on each share of such class or series of capital stock by the original issuance price of such class or series of capital stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to such class or series) and (B) multiplying such fraction by an amount equal to the Series Seed Original Issue Price.

***Liquidation Rights***

In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company or Deemed Liquidation Event, after the payment in full of all Preferred Liquidation Amounts (which equaled $4,759,840 as of December 31, 2023) required to be paid to the holders of shares of Series Seed Preferred Stock, the remaining assets of the Company available for distribution to its stockholders will be distributed among the holders of shares of Class A, Class B, Class C, and Class AAA Common Stock, pro rata based on the number of shares held by each such holder.

"Deemed Liquidation Event" is defined as follows:

a) a
 merger, reorganization or consolidation

b) the
 sale, lease, transfer, exclusive license or other disposition by the Company or any subsidiary of the Company or all or substantially
 all of the assets or intellectual property of the Company and its subsidiaries

Additional information can be found in the Company's Amended and Restated Certificate of Incorporation.

**Class C Common Stock**

***Voting Rights***

The shares of Class C Common Stock have no voting rights of any kind, except as may be otherwise required by law.

***Conversion***

Each share of Class C Common Stock automatically converts into one (1) share of Class A Common Stock immediately upon the earlier of (x) the closing of a firmly underwritten public offering pursuant to an effective registration statement under the Securities Act covering the offer and sale of Common Stock for the account of the Company or (y) an election by the Board of Directors of the Company to effect any such conversion.

***Dividend Rights***

The Company will not declare, pay or set aside any dividends on shares of any other class or series of capital stock of the Company (other than dividends on shares of Common Stock payable in shares of Common Stock) unless (in addition to the obtaining of any consents required elsewhere in the Certificate of Incorporation) the holders of the Series Seed Preferred Stock then outstanding will first receive, or simultaneously receive, a dividend on each outstanding share of Series Seed Preferred Stock in an amount at least equal to (i) in the case of a dividend on Common Stock or any class or series that is convertible into Common Stock, that dividend per share of Series Seed Preferred Stock as would equal the product of (A) the dividend payable on each share of such class or series determined, if applicable, as if all shares of such class or series had been converted into Common Stock and (B) the number of shares of Common Stock issuable upon conversion of a share of Series Seed Preferred Stock, in each case calculated on the record date for determination of holders entitled to receive such dividend or (ii) in the case of a dividend on any class or series that is not convertible into Common Stock, at a rate per share of Series Seed Preferred Stock determined by (A) dividing the amount of the dividend payable on each share of such class or series of capital stock by the original issuance price of such class or series of capital stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to such class or series) and (B) multiplying such fraction by an amount equal to the Series Seed Original Issue Price.

 ****

***Liquidation Rights***

In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company or Deemed Liquidation Event, after the payment in full of all Preferred Liquidation Amounts (which equaled $4,759,840 as of December 31, 2023) required to be paid to the holders of shares of Series Seed Preferred Stock, the remaining assets of the Company available for distribution to its stockholders will be distributed among the holders of shares of Class A, Class B, Class C, and Class AAA Common Stock, pro rata based on the number of shares held by each such holder.

"Deemed Liquidation Event" is defined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) a
 merger, reorganization or consolidation

b) the
 sale, lease, transfer, exclusive license or other disposition by the Company or any subsidiary of the Company or all or substantially
 all of the assets or intellectual property of the Company and its subsidiaries

Additional information can be found in the Company's Amended and Restated Certificate of Incorporation.

**Class A Common Stock**

***Voting Rights***

The holders of the Company's Class A Common Stock are entitled to one vote for each share of such stock held at all meetings of stockholders (and written actions in lieu of meetings); provided, however, that, except as otherwise required by law, holders of Class A Common Stock, as such, will not be entitled to vote on any amendment to the Certificate of Incorporation that relates solely to the terms of one or more outstanding series of Preferred Stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to the Certificate of Incorporation.

Additionally, holders of Class A Common Stock, exclusively and as a separate class, will be entitled to elect all directors of the Company.

 ****

***Conversion Rights***

Each share of Class A Common stock is convertible into one (1) share of Class AAA Common Stock at the option of the shareholder.

 **

***Protective Provisions***

 **

The Company will not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without the written consent or affirmative vote of the holders of at least a majority of the then outstanding shares of Preferred Stock and Class A Common Stock, voting together as a single class on an as-converted to Common Stock basis, given in writing or by vote at a meeting, consenting or voting together as a class:

● purchase or redeem or pay or declare any dividend or make any distribution on, on any capital stock, other than (i) dividends or other distributions payable on the Common Stock solely in the form of additional shares of Common Stock, (ii) redemptions of or dividends or distributions on the Series Seed Preferred Stock as expressly provided herein and (iii) stock repurchased from former employees, officers, directors, consultants or other persons who performed services for the Company or any subsidiary in connection with the cessation of their employment/services at the lower of the original purchase price or the then current fair market value thereof, unless otherwise approved by the Board of Directors;

● create or hold capital stock in any subsidiary that is not a wholly-owned subsidiary (either directly or through one or more other subsidiaries); or

● permit any subsidiary of the Company to do any of the foregoing.

 **

***Dividend Rights***

 **

The dividend rights of holders of the Company's Class A Common Stock are identical to those of the Class AAA, Class B, and Class C Common Stock described above.

***Liquidation Rights***

 ****

The liquidation rights of holders of the Company's Class A Common Stock are identical to those of the Class AAA, Class B, and Class C Common Stock described above.

**Series Seed Preferred Stock**

***Voting Rights***

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 will 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. Except as provided by law or by the other provisions of the Certificate of Incorporation , holders of Preferred Stock will vote together with the holders of Common Stock as a single class.

***Protective Provisions***

 ****

The Company will not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without the written consent or affirmative vote of the holders of at least a majority of the then outstanding shares of Preferred Stock and Class A Common Stock, voting together as a single class on an as-converted to Common Stock basis, given in writing or by vote at a meeting, consenting or voting together as a class:

● purchase or redeem or pay or declare any dividend or make any distribution on, on any capital stock, other than (i) dividends or other distributions payable on the Common Stock solely in the form of additional shares of Common Stock, (ii) redemptions of or dividends or distributions on the Series Seed Preferred Stock as expressly provided herein and (iii) stock repurchased from former employees, officers, directors, consultants or other persons who performed services for the Company or any subsidiary in connection with the cessation of their employment/services at the lower of the original purchase price or the then current fair market value thereof, unless otherwise approved by the Board of Directors;

● create or hold capital stock in any subsidiary that is not a wholly-owned subsidiary (either directly or through one or more other subsidiaries); or

● permit any subsidiary of the Company to do any of the foregoing.

Additionally, at any time when at least 70,596,360 shares of Preferred Stock are outstanding (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Preferred Stock), the Company will not, either directly or indirectly by amendment, merger, consolidation or otherwise, without (in addition to any other vote required by law or the Certificate of Incorporation) the written consent or affirmative vote of the holders of at least a majority of the then outstanding shares of Preferred Stock, voting together as a single class on an as-converted to Common Stock basis, given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class, amend, alter or repeal any provision of the Certificate of Incorporation in a manner that substantially and disproportionately adversely affects the powers, preferences or special rights of the Preferred Stock (in addition to any other vote required by law or the Certificate of Incorporation) (it being understood that any increase in the authorized number of shares of Series Seed Preferred Stock, any authorization of any additional class or series of capital stock or any Deemed Liquidation Event will not constitute such an adverse effect).

Further, holders of Preferred Stock are entitled to certain anti-dilution rights, whereby the holders of Preferred Stock will be entitled to convert their shares of Preferred Stock into a greater number of shares of Common Stock if the Company makes certain dilutive issuances of additional shares of Common Stock of the Company. However, on May 7, 2024, holders of Preferred Stock agreed to waive these anti-dilution rights with respect to the sale or issuance of shares of the Company's capital stock in this Offering. See the "Conversion Rights" discussion further below for additional details.

***Dividend Rights***

 ****

The Company will not declare, pay or set aside any dividends on shares of any other class or series of capital stock of the Company (other than dividends on shares of Common Stock payable in shares of Common Stock) unless (in addition to the obtaining of any consents required elsewhere in the Certificate of Incorporation) the holders of the Series Seed Preferred Stock then outstanding will first receive, or simultaneously receive, a dividend on each outstanding share of Series Seed Preferred Stock in an amount at least equal to (i) in the case of a dividend on Common Stock or any class or series that is convertible into Common Stock, that dividend per share of Series Seed Preferred Stock as would equal the product of (A) the dividend payable on each share of such class or series determined, if applicable, as if all shares of such class or series had been converted into Common Stock and (B) the number of shares of Common Stock issuable upon conversion of a share of Series Seed Preferred Stock, in each case calculated on the record date for determination of holders entitled to receive such dividend or (ii) in the case of a dividend on any class or series that is not convertible into Common Stock, at a rate per share of Series Seed Preferred Stock determined by (A) dividing the amount of the dividend payable on each share of such class or series of capital stock by the original issuance price of such class or series of capital stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to such class or series) and (B) multiplying such fraction by an amount equal to the Series Seed Original Issue Price.

***Liquidation Rights***

 ****

In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company or Deemed Liquidation Event (as defined above), the holders of shares of Series Seed Preferred Stock then outstanding will be entitled to be paid out of the assets of the Company available for distribution to its stockholders before any payment will 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 Series Seed Original Issue Price (which is currently is $0.01345679), plus any dividends declared but unpaid thereon, or (ii) such amount per share as would have been payable had all shares of Series Seed 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 will be insufficient to pay the holders of shares of Series Seed Preferred Stock, the holders of shares of Series Seed Preferred Stock will 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.

***Conversion Rights***

 ****

Each share of Preferred Stock is convertible at the option of the holder, into shares of Class A Common Stock or shares of Class AAA Common Stock by dividing the "Original Issue Price" by the "Conversion Price", each of which were initially set at $0.01345679 per share. The Conversion Price is subject to adjustment in certain circumstances, including, but not limited to (i) the Company making certain issuances of shares of Common Stock for less per share than the Conversion Price then in effect; (ii) the Company effecting a stock split; and/or (iii) distributions or dividends paid in Common Stock to holders of the Company's Common Stock. However, on May 7, 2024, holders of a majority of the outstanding shares of Preferred Stock agreed to waive any rights with respect to adjustment to the Conversion Price as a result of the sale or issuance of shares of the Company's capital stock in this Offering.

Additionally, upon the sale by the Company of shares of its Common Stock in a firm-commitment underwritten public offering at a price per share equal to or greater than three times the Original Issue Price, or upon the vote of the majority of the holders of Preferred Stock of the Company and certain other key holders of the Company's equity securities, all shares of Preferred Stock must convert into shares of Common Stock.

The above descriptions of the terms of our authorized capital stock are only summaries, and are qualified by reference to the Company's Amended and Restated Certificate of Incorporation filed as an exhibit to the Offering statement of which this Offering circular forms a part.

**Warrants**

The Company has four outstanding warrants exercisable for a total of 3,375,000 shares of Class AAA Common Stock at an exercise price of $0.0069 per share. In each case, the exercise price of the warrants is subject to adjustment in the occurrence of certain events, including upon the Company making payments of dividends, stock splits of the Class AAA Common Stock, and certain business combination transactions. Each warrant has an exercise period of 10 years from the date of issuance, and will automatically terminate upon the expiration of this period. All outstanding warrants will expire in 2034.

A form of warrant, which has substantially the same terms of each of the outstanding warrants described above, has been filed as exhibit 3.5 to the offering statement of which this Offering Circular forms a part.

**Simple Agreement for Future Tokens (SAFTs)**

As discussed above, due to a delay in delivering $CRNC tokens to investors that purchased these tokens in the Company's 2018 side-by-side Regulation D and Regulation S offering of $CRNC tokens (conducted through CGL), the Company issued Simple Agreements for Future Tokens (SAFTs) to those investors, totaling approximately $26 million in value (equal to the proceeds from the $CRNC token offering). The form of SAFT entered into with these investors dictates that upon launch of the $CRNC Network, the Company will issue a number of $CRNC tokens based on when the SAFT Purchaser ("Purchaser") is willing to take receipt of the $CRNC tokens. This formula, also called a "Bonus Arrangement" in the SAFT, is an arrangement whereby the Company agrees to issue a larger allocation of $CRNC tokens to the Purchaser if the Purchaser agrees to accept a deferred delivery or distribution of the $CRNC tokens following the effective date of the SAFT. The longer the Purchaser is willing to delay receipt or distribution of $CRNC tokens after the Effective Date of the SAFT, the larger the Bonus (in the form of $CRNC tokens) the Purchaser will receive from the Company. For example, if a Purchaser agrees to a delayed delivery or distribution of: (a) six (6) months following the Effective Date, the Purchaser will receive a Bonus of 55%, (b) three (3) months following the Effective Date, the Purchaser will receive a Bonus of 40% and (c) if there is no delayed delivery or distribution following the Effective Date, the Purchaser will receive a Bonus of 25%.

Between August 2021 and October 2021, all $CRNC tokens due to be issued under the SAFTs (including any additional "Bonus" tokens) were issued to the Purchasers. As such, there are no longer any $CRNC tokens issuable pursuant to the SAFTs.

On account of the launch of the $CRNC Network being delayed longer than expected, the Company elected to pay the SAFT holders a royalty of $1,900,000 based on the Company's financial performance in 2021, which is described under "Management's Discussion And Analysis Of Financial Condition And Results Of Operations - Liquidity and Capital Resources - $CRNC Tokens Royalty". The Company proactively provided this royalty to offset any liability that may result from delay or an unforeseen failure to successfully launch the $CRNC Network. Additionally, around the same time as paying this royalty, the Company and the SAFE holders agreed to assign the SAFTs to CGL and as such, the Company has no further obligations to the SAFT holders, and would not face any direct liability if the $CRNC Network failed to launch. There is no also specific liability stated in the SAFT for CGL in the event the $CRNC Network is not launched (in fact, the SAFT requires each SAFT holder to expressly assume the risk that the $CRNC Network may never launch). Nonetheless, it is possible that SAFT holders could pursue litigation against CGL and/or the Company if the $CRNC Network is never launched - although it is not possible for the Company to predict what causes of action may be brought, or what the Company's or CGL's liability may be in such an event.

As described elsewhere in this Offering Circular, in connection with planned launch of the $CRNC Network and the creation of the foundation in Q3 2024, all obligations due from the Company to the Purchasers under the SAFTs will cease.

A copy of the form of SAFT entered into with the Purchasers described above if filed as exhibit 3.4 to the offering statement of which this Offering Circular forms a part.

**Provisions of Note in Our Amended and Restated Certificate of Incorporation** 

Pursuant to our Amended and Restated Certificate of Incorporation, to the fullest extent permitted by law, the sole and exclusive judicial forum for the following actions will be the Court of Chancery of the State of Delaware:

(1) Any derivative action or proceeding brought on behalf of the Company;

(2) Any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee of the Company to the Company or the Company's stockholders;

(3) Any action asserting a claim against the Company arising pursuant to any provision of the Delaware General Company Law or the Company's Amended and Restated Certificate of Incorporation or Bylaws;

(4) Any action to interpret, apply, enforce or determine the validity of the Company's Amended and Restated Certificate of Incorporation or the Bylaws; or

(5) Any action asserting a claim against the Company governed by the internal affairs doctrine.

Although we believe the provision benefits us by providing increased consistency in the application of Delaware law in the types of lawsuits to which it applies and in limiting our litigation costs, the forum selection provision may limit investors' ability to bring claims in judicial forums that they find favorable to such disputes and may discourage lawsuits with respect to such claims. The Company has adopted the provision to limit the time and expense incurred by its management to challenge any such claims. As a company with a small management team, this provision allows its officers to not lose a significant amount of time travelling to any particular forum so they may continue to focus on operations of the Company.

**Investors' Rights Agreement**

On February 25, 2021, the Company entered into an Investors' Rights Agreement with certain investors in the Company's Series Seed Preferred Stock and Class A Common Stock (each, an "Investor"), which was subsequently amended on May 7 2024, the material terms of which are summarized below.

*Registration Rights*

 

The Company agreed to not grant any registration rights to the holders of any class or series of stock of the Company, other than to the Investors, unless the Investors are simultaneously granted registration rights that are comparable to those granted to the holders of such other class or series of stock of the Company (with appropriate adjustments for economic terms). Upon the granting of registration rights to the Investors in connection with a bona fide material transaction by the Company with the principal purpose of raising capital from investors buying stock of the Company, these registration rights will terminate.

*Market Stand-Off*

 

The Investors agreed not to engage in certain transactions (like selling or transferring shares) without the managing underwriter's consent for a period of time after the commencement of the Company's first underwritten public offering of its Common Stock under the Securities Act (an "IPO") or an offering pursuant to an alternative registration of the Company's equities securities under the Securities Act. This period can last up to 180 days for an IPO and up to 90 days for other registrations of the Company's equity securities. These restrictions will apply to the Investors only if similar restrictions apply to all officers and directors of the Company. The underwriters have enforcement rights for these provisions

 

*Rights to Future Stock Issuances (Right of First Offer)*

 

If the Company proposes to offer or sell any equity securities of the Company (including rights, options, or warrants to purchase such equity securities, or securities convertible or exchangeable into such equity securities), it must first offer them to each "Major Investor". "Major Investor" means any Investor that, individually or together with such Investor's affiliates, holds at least 137,615 shares of Series Seed Preferred Stock and/or Common Stock (as adjusted for any stock split, stock dividend, combination, or other recapitalization or reclassification) or any other Investor that the Company has agreed in writing is a "Major Investor." Major Investors can elect to purchase such securities proportional to their existing ownership. This right does apply to shares issued in an IPO. These rights terminate immediately before an IPO of the Company, or when the Company becomes subject to Exchange Act reporting requirements.

However, on May 7, 2024, the Investors agreed to waive these pre-emptive rights with respect to the sale or issuance of shares of the Company's capital stock in this Offering.

The foregoing description of the Investors' Rights Agreement is intended to be a summary, and is qualified by reference to the full text of the Investors' Rights Agreement, as amended, filed as exhibit 3.2 the offering statement of which this Offering Circular forms a part.

**Series Seed Preferred Voting Agreement**

Also on February 25, 2021, the Company entered into a Voting Agreement with the same Investors described above, as well all other Series Seed Preferred Stockholders of the Company (collectively, the "Stockholders"), which was subsequently amended on May 7 2024, the material terms of which are summarized below.

*Board of Directors Votes*

 

Each Stockholder agreed to vote their shares to ensure that the size of the board of directors of the Company remains at three (3) directors. Additionally, subject to certain conditions, each Stockholder agreed to vote to elect (and re-elect) certain individuals designated by certain parties to the Company's board of directors, as follows:

*Founder Member Designee*. For so long as Dan Novaes owns at least 131,280,386 shares of Class A Common Stock of the Company (subject to appropriate adjustment for any stock splits, stock dividends, combinations, recapitalizations and the like), the Stockholders must vote to elect one (1) individual designated by Mr. Novaes be elected to the Board.

*Garland Designee*. For so long as Garland Fund I, LLC ("Garland") owns at least 83,057,886 shares of Series Seed Preferred Stock of the Company (subject to appropriate adjustment for any stock splits, stock dividends, combinations, recapitalizations and the like), the Stockholders must vote to elect one (1) individual designated by Garland to the Board.

*Independent Designee*. For so long as the Dan Novaes owns at least 262,560,771 shares of Class A Common Stock of the Company (subject to appropriate adjustment for any stock splits, stock dividends, combinations, recapitalizations and the like), the Stockholders must vote to elect one individual to the Board who is an Independent Director and (i) is mutually designated by Mr. Novaes and Garland or (ii) if Mr. Novaes and Garland cannot mutually consent to such designation within 10 days of a vacancy in such seat, such individual may be designated by the holders of a majority of the voting stock of the Company (other than shares of Common Stock issued upon the exercise of options), voting together as a single class on an as-converted basis.

*Vote to Increase Authorized Common Stock.*

 

Each Stockholder agreed to vote to increase the number of authorized shares of Common Stock from time to time to ensure that there will be sufficient shares of Common Stock available for conversion of all of the shares of Series Seed Preferred Stock outstanding at any given time.

*Drag Along*

 

The Stockholders also agreed that, in the event that (i) the holders of at least a majority of the shares of Common Stock that is then outstanding (other than shares of Common Stock issued upon the exercise of options) and the shares of Common Stock then issuable upon conversion of the outstanding shares of Series A Preferred Stock, Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock, voting together as a single class on an as-converted basis (the "Selling Investors"); and (ii) the Board of Directors approve a sale of securities representing more than 50% of the voting power of the Company, and such a sale requires stockholder approval, the Stockholders vote to approve such transaction, and will sell shares of the Company's stock as required to complete the transaction.

The foregoing description of the Voting Agreement is intended to be a summary, and is qualified by reference to the full text of the Voting Agreement, as amended, filed as exhibit 5 the offering statement of which this Offering Circular forms a part.

**Right of First Refusal and Co-Sale Agreement**

Also on February 25, 2021, the Company entered into a Right of First Refusal and Co-Sale Agreement with the same Investors described above, as well all other Series Seed Preferred Stockholders of the Company (collectively, the "Stockholders"), which was subsequently amended on May 7 2024, pursuant to which the Stockholders granted the Company a right of first refusal to purchase all or any portion of shares of the Company's capital stock that a Stockholder proposes to sell or transfer, at the same price and on the same terms and conditions as those offered to the proposed transferee. Additionally, certain "Major Investors" (as defined in the agreement) have a secondary right of first refusal, whereby if the Company declines to purchase the shares, the Major Investors will have the right to purchase those shares before the proposed transferee.

Additionally, if neither the Company nor the Major Investors exercise their right of first refusal, and the Stockholder decides to proceed with the sale or transfer of his or her capital stock to the proposed transferee, each respective Major Investor may elect to exercise a right of co-sale, and participate on a pro rata basis in the proposed Stockholder transfer on the same terms and conditions. The amount of shares that the Major Investor may include will be equal to the product obtained by multiplying (i) the aggregate number of shares of Common Stock proposed to be transferred by (ii) a fraction, the numerator of which is the number of shares of capital stock owned by such Major Investor immediately before consummation of the proposed transfer and the denominator of which is the total number of shares of capital stock owned, in the aggregate, by all participating investors immediately prior to the consummation of the transfer, plus the number of shares of capital stock held by the selling Stockholder.

Finally, each Stockholder agreed to a lock-up whereby, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the Company's initial public offering (the "IPO") and ending on the date specified by the Company and the managing underwriter (such period not to exceed 180 days), or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions, the Stockholder will not sell, otherwise transfer or dispose of, directly or indirectly, any shares of capital stock held immediately prior to the effectiveness of the registration statement for the IPO.

However, on May 7, 2024, the Stockholders agreed to waive foregoing rights of first refusal and co-sale and related with respect to the sale and issuance of capital stock of the Company sold or issued by the Company in this Offering.

The foregoing description of the Right of First Refusal and Co-Sale Agreement is intended to be a summary, and is qualified by reference to the full text of the Right of First Refusal and Co-Sale Agreement, as amended, filed as exhibit 3.3 the offering statement of which this Offering Circular forms a part.

**PLAN OF DISTRIBUTION AND SELLING SECURITY HOLDERS**

**Plan of Distribution**

The Company is directly offering up to 152,641,079 shares of Class AAA Common Stock, plus up to 105,186,441 additional shares of Class AAA Common Stock for Bonus Shares. The issuance of Bonus Shares for no cash consideration will occur on either invest.modemobile.com or via the Company's EarnOS app and will not be distributed by DealMaker Securities.

The Company has engaged DealMaker Securities, LLC as the broker-dealer of record to assist in the offering of its securities. DealMaker Securities is under no obligation to purchase any securities or arrange for the sale of any specific number or dollar amount of securities. The issuance of Bonus Shares for no cash consideration will occur on either invest.modemobile.com or via the Company's EarnOS app and will not be distributed by DealMaker Securities.

**Commissions and Discounts**

 ***DealMaker Securities***

The following table shows the total discounts and commissions payable to DealMaker Securities in connection with this Offering**:**

---

| | | |
|:---|:---|:---|
|  | Per Share | Maximum |
| Public Offering Price | $0.3000 | $47581624.50 |
| Commissions <sup>(1)</sup> | $0.0150 | $2426662.85 |
| Investor Fee <sup>(2)</sup> | $0.0060 | $951632.49 |
| Proceeds, before expenses, to us (or to selling stockholders, as applicable) | $0.2910 | $46106594.14 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Represents
 the 5.0% commissions payable to DealMaker on proceeds raised in this offering.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Investors
 will be responsible for a transaction fee equal to two percent (2.0%) of the purchase price
 for shares of Class AAA Common Stock paid at the time of investment (the "Investor
 Fee"). DealMaker will receive commissions on the Investor Fee. If fully subscribed,
 this would represent a maximum commission of $45,000.00.

**Bonus Shares for Certain Investors (Up to 20%)** 

Certain investors in this Offering are eligible to receive bonus shares of Class AAA Common Stock, which effectively gives them a discount on their investment. Those investors will receive, as part of their investment, additional shares for their shares purchased ("Bonus Shares"). The amount of Bonus Shares investors in this offering are eligible to receive and the criteria for receiving such Bonus Shares is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) *"Reserved" Shares.* Prior to the qualification by the SEC of the Company's offering, the Company will offer investors the opportunity
 to "reserve" shares through a reservation process on the DealMaker subscription processing platform. On our campaign
 page, the investor may select the "Reserve My Shares" button, which will bring the investor to a new page where the investor
 will indicate the amount of shares (and amount of money) he or she would like to reserve in the Company. The reservation is finalized
 by clicking the "Reserve My Shares" button. Investors who reserve shares in this manner will receive an additional 5%
 Bonus Shares on their actual investment once this offering is qualified by the SEC (rounded down to the nearest whole share). For
 example, if an investor reserves 4,000 shares, and subsequently confirms this reservation and purchases the 4,000 shares, such investor
 will receive an additional 200 shares of the Company's Class AAA Common Stock, for a total of 4,200 shares. The
 5% is stackable with the volume bonus tiers outlined in section (v) "Reserving" shares is simply an indication
 of interest. There is no binding commitment for investors that reserve shares in this manner to ultimately invest and purchase the
 shares reserved of the Company, or to purchase any shares of the Company whatsoever.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) *Existing Investors – Mode Mobile*. Individuals or entities
 that are existing investors of the Company prior to the qualification of this Offering Statement will be eligible to receive an additional
 10% Bonus Shares on the amount of shares they purchase for cash in this Offering.

(iii) *Webinar Attendees.* Individuals or entities that attend one
 of the Company's pre-announced investment webinars will be eligible to receive 5% Bonus Shares if they invest in the Offering.
 The investor is eligible if they sign up for the webinar and invest with the same email address and if attend the webinar for more
 than thirty minutes. The webinars will take place every two weeks (14 days) while this Offering is open and taking investments.

&nbsp;&nbsp;&nbsp;&nbsp;(v) *Investment Amount*. Investors will be eligible to receive one of the below bonuses based on the amount of their investment in this offering.
 The below table indicates the % of Bonus Shares eligible by tier:

---

| | |
|:---|:---|
| Investment Range | Bonus Shares |
| $2,500.00+ | 10% |
| $4,950.00+ | 15% |
| $9,950.00+ | 20% |

---

For example, if an investor invests $9,950.10 the investor will receive 33,167 shares of Class AAA Common Stock, and will receive an additional 6,633 Bonus Shares of Class AAA Common Stock, for a total of 39,800 shares. All bonus shares are rounded down to the nearest whole share.

Certain investors in this offering are eligible to receive Bonus Shares of Class AAA Common Stock without any cash consideration. The amount of Bonus Shares investors in this offering are eligible to receive and the criteria for receiving such Bonus Shares is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(ii) *New Mode Mobile Users.* Every individual will receive $15.00 or 50 shares of
 Class AAA Common Stock when they sign up for Mode Mobile as a user.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) *Mode Earn Club Members.* Individuals who sign up for the Company's Mode Earn Club and complete the onboarding process will earn
 $39.90 or 133 Bonus Shares of Class AAA Common Stock.

(iv) Mode Investor Club Members. Individuals who sign up for the Company's
Mode Investor Club and complete the onboarding process will earn $24.90 or 83 Bonus Shares of Class AAA Common Stock.

**Bonus Share Limits**

Investors in this Offering are eligible to receive any of the above Bonus Shares in any combination. However, for the categories of Bonus Shares that may only be received if an investor purchases shares with cash, the maximum amount of Bonus Shares that any one investor may receive is 20% of their cash investment amount. This means that investors can only ever receive, cumulatively among cash investment Bonus Shares (i.e. categories excluding non-payment categories), Bonus Shares equal to the number of shares they have purchased (i.e. double the amount of shares purchased for cash).

Additional limits are being placed on the categories of Bonus Shares that do not require any cash consideration. If an individual has not purchased any shares in the Offering, the individual may only receive only up to 12,000 shares of Class AAA Common Stock for no cash consideration.. For clarity, these shares will not count towards the 20% cash investment Bonus Shares limit described above.

Finally, the maximum number of Bonus Shares that will be issued in this Offering is 105,186,441, and under no circumstances will the Company issue more than 105,186,441 Bonus Shares. As such, it is possible that, prior to the Company raising the maximum offering amount in this offering of $47,581,624.50, it will have issued all 105,186,441 Bonus Shares. At such time as all 105,186,441 Bonus Shares have been issued, any new investors in this offering that meet the eligibility requirements to receive Bonus Shares will not receive them. Similarly, individuals will not be permitted to redeem Mode Mobile points for Bonus Shares after such time.

The issuance of Bonus Shares for no cash consideration will occur on either invest.modemobile.com or via the Company's EarnOS app. All investors who receive Bonus Shares for no cash consideration will be required to sign a Subscription Agreement, a form of which is included as Exhibit 4.1 to the Offering Statement of which this Offering Circular forms a part.

DealMaker Securities has not been engaged to assist in the distribution of the Bonus Shares, and will not receive any compensation related to the Bonus Shares.

**Non-Equity Perks**

The Company will grant investors the following non-equity perks based on how much they invest:

---

| | | | |
|:---|:---|:---|:---|
| **Investment Amount** | **Tier** | **Cost to Company** | **Approximate**<br> **Market Value** |
| $1,000+ | Bronze Savings Seminar | $50 | Up to $500 |
| $2,500+ | Silver Savings Seminar | $50 | Up to $1000 |
| $4,950+ | Gold Savings Seminar | $50 | Up To $2,500 |
| $9,950+ | Sapphire Savings Seminar | $50 | Up to $5,000 |
| $15,000+ | Platinum Savings Seminar | $50 | Up To $10,000 |

---

The seminars will cover a number of topics we believe our investors and customers would find beneficial. Topics would include how attendees can get access to discounted products and services, cashback offers, and financial education content. For the cashback offers, the Company enters into marketing arrangements by which the Company is paid by the other companies when a customer accepts a cashback offer. These relationships are disclosed to the customers during the seminar.

The following includes additional details of each seminar level:

---

| | | | |
|:---|:---|:---|:---|
| **Tier** | **Session Length** | **Educational Content** | **Offers** |
| Bronze Savings Seminar | 15 minutes | Household Savings | Discounted Products |
| Silver Savings Seminar | 30 minutes | Household Savings | Discounted Products |
| Gold Savings Seminar | 45 minutes | Retirement Planning | Cashback Offers |
| Sapphire Savings Seminar | 60 minutes | Retirement Planning | Cashback Offers |
| Platinum Savings Seminar | 75 minutes | Retirement Planning | Cashback Offers |

---

Each seminar will be pre-recorded and will be led by the Company's CEO, Dan Novaes and may include special guests from time to time. Investors will be emailed access links to the seminars within 1 month of their investment being confirmed by the Company. The above perks are non-transferable. The Company reserves the right to change the content of each seminar if management believes it is in the best interests of the Company.

The Market Value does not represent the cost to the Company and instead represents what someone may expect to pay for similar information and content if obtained in the open market.

Non-equity perks are cumulative, meaning that if someone invests $15,000 or more in the Offering, they will earn all of the above perks.

Additionally, for each investment in this Offering over $1,500, the Company will donate up to 2 Mode EarnPhones to a family or veteran in need though the Company's current charity partner, the Youngstown Community Foodbank. The investor has the option to keep one EarnPhone and donate one EarnPhone, or it can donate both. This perk comes with no equity value and the maximum cash cost to the Company for each EarnPhone is approximately $125. The Company books all costs from its giveaway and donation programs, including this one, as a part of operational marketing expenses and not an offering expense. This perk is limited to one per single investor. There is a limited supply of EarnPhones available. Once supplies of EarnPhones run out, each investment in this Offering over $1,500 will instead receive a lifetime subscription to the Mode Earn Club for 6 individuals of their choosing. The value of this perk is approximately $250 which is similar to the value of two Mode EarnPhones.

DealMaker Securities, LLC is a broker-dealer registered with the Commission and a member of FINRA that has been engaged to provide administrative and compliance related functions in connection with this offering, and as broker-dealer of record, but not for underwriting or placement agent services. Affiliates of DealMaker have also been engaged to provide technology services and marketing advisory services, specifically Novation Solutions Inc. O/A DealMaker and DealMaker Reach, LLC.

The aggregate compensation payable to DealMaker and its affiliates are described below.

---

| | |
|:---|:---|
| **a.)** | **Administrative and Compliance Related Functions** |

---

DealMaker will provide administrative and compliance related functions in connection with this offering, including

● Reviewing investor information, including identity verification, performing Anti-Money Laundering ("AML") and other compliance background checks, and providing the Company with information on an investor in order for the Company to determine whether to accept such investor into the offering;

● If necessary, discussions with us regarding additional information or clarification on a Company-invited investor;

● Coordinating with third party agents and vendors in connection with performance of services;

● Reviewing each investor's subscription agreement to confirm such investor's participation in the offering and provide a recommendation to us whether or not to accept the subscription agreement for the investor's participation;

● Contacting and/or notifying us, if needed, to gather additional information or clarification on an investor;

● Providing a dedicated account manager;

● Providing ongoing advice to us on compliance of marketing material and other communications with the public, including with respect to applicable legal standards and requirements;

● Reviewing and performing due diligence on the Company and the Company's management and principals and consulting with the Company regarding same;

● Consulting with the Company on best business practices regarding this raise in light of current market conditions and prior self-directed capital raises;

● Providing white labelled platform customization to capture investor acquisition through DealMaker's platform's analytic and communication tools

● Consulting with the Company on question customization for investor questionnaire;

● Consulting with the Company on selection of webhosting services;

● Consulting with the Company on completing template for the offering campaign page;

● Advising us on compliance of marketing materials and other communications with the public with applicable legal standards and requirements;

● Providing advice to the Company on preparation and completion of this Offering Circular;

● Advising the Company on how to configure our website for the offering working with prospective investors;

● Assisting the Company in the preparation of state, Commission and FINRA filings related to the Offering; and

● Working with Company personnel and counsel in providing information to the extent necessary.

Such services will not include providing any investment advice or any investment recommendations to any investor.

For these services, we have agreed to pay DealMaker a cash commission equal to five percent (5.0%) of the amount raised in the Offering not to exceed $2,295,000.00, if fully subscribed (which includes commissions on the Investor Fee charged to investors that invest via DealMaker).

---

| | |
|:---|:---|
| **b.)** | **Technology Services** |

---

The Company has also engaged Novation Solutions Inc. O/A DealMaker, an affiliate of DealMaker Securities to create and maintain the online subscription processing platform for the Offering.

After the qualification by the Commission of the Offering Statement of which this Offering Circular is a part, this Offering will be conducted using the online subscription processing platform of DealMaker through our website at invest.modemobile.com, whereby investors will receive, review, execute and deliver subscription agreements electronically as well as make payment of the purchase price through a third party processor by ACH debit transfer or wire transfer or credit card or Stablecoin to an account we designate. DealMaker is providing the back-end technology to process investments on our invest.modemobile.com website through its integrated payment solutions. There is no escrow established for this offering. We will hold closings upon the receipt of investors' subscriptions and our acceptance of such subscriptions.

Investors who are eligible to receive Bonus Shares through conversion of Mode Mobile points will be able to initiate this transaction via the Company's EarnOS app. Once the conversion is approved by the Company via the app, the investor will then be directed to DealMaker to sign their subscription agreement and claim their shares. A form of the Subscription Agreement is included as Exhibit 4.1 to the Offering Statement of which this Offering Circular forms a part.

---

| | |
|:---|:---|
| **c.)** | **Marketing and Advisory Services** |

---

The Company has also engaged DealMaker Reach, LLC ("Reach"), an affiliate of DealMaker Securities, for certain marketing advisory and consulting services, including some supplemental services on a case-by-case basis. DealMaker will consult and advise on the design and messaging on creative assets, website design and implementation, paid media and email campaigns, advise on optimizing the Company's campaign page to track investor progress, and advise on strategic planning, implementation, and execution of Company's capital raise marketing budget.

For these ongoing services, we have agreed to pay DealMaker compensation prior to the commencement of the Offering of $5,000 per month of accountable expenses up to a maximum of $15,000, which will be returned if not incurred. In addition, after the commencement of the Offering, $5,000 per month (not to exceed $45,000 in aggregate) while the Offering is ongoing.

For supplemental marketing services, DealMaker will receive as compensation a maximum of $330,000, which will be requested on a case-by-case basis as the Company requests for the placement of marketing advertisements.

The maximum compensation to be paid to DealMaker Securities and affiliates is $2,816,662.85 (5.80%) of the Offering proceeds.

**Subscription Procedures – DealMaker Securities** 

After the Offering Statement has been qualified by the Commission, the Company will accept tenders of funds to purchase the Common Stock. The Company may close on investments on a "rolling" basis (so not all investors will receive their shares on the same date). Investors may subscribe by tendering funds via wire, credit or debit card, or ACH only or Stablecoin only, and checks will not be accepted. Investors will subscribe via the Company's website and investor funds will be processed via DealMaker's integrated payment solutions. Funds will be held in the Company's payment processor account until DealMaker has reviewed the proposed subscription, and the Company has accepted the subscription. Funds released to the Company's bank account will be net funds (investment less payment for processing fees and a holdback equivalent to 5% for 90 days).

In order for an Investor to pay with Stablecoin, they will select the "Stablecoin" option at the payment screen and then press submit. They will then be redirected to the payment processor to connect their crypto wallet in order to process the payment. Once the payment is processed, the investor will then be taken back to the DealMaker checkout page and will receive a payment confirmation.

The Company will be responsible for payment processing fees. Upon each closing, funds tendered by investors will be made available to the Company and the selling stockholders for their use, as applicable.

In order to invest you will be required to subscribe to the offering via the Company's website, invest.modemobile.com, integrating DealMaker's technology and agree to the terms of the offering, Subscription Agreement, and any other relevant exhibit attached thereto.

Any investor that will be receiving Bonus Shares will also be required to subscribe to the offering via the Company's website integrating DealMaker's technology or via a separate electronic document signature technology employed by the Company. All investors that receive Bonus Shares will be required to agree to the terms of the offering, Subscription Agreement, and any other relevant exhibit attached thereto.

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

Any potential investor will have ample time to review the subscription agreement, along with their counsel, prior to making any final investment decision. DealMaker Securities will review all subscription agreements completed by the investor. After DealMaker Securities has completed its review of a subscription agreement for an investment in the Company, and the Company has elected to accept the investor into the offering, the funds may be released to the Company.

DealMaker Securities has not investigated the desirability or advisability of investment in the Common Stock, nor approved, endorsed or passed upon the merits of purchasing the Common Stock. DealMaker Securities is not participating as an underwriter and under no circumstance will it recommend the Company's securities or provide investment advice to any prospective investor, or make any securities recommendations to investors. DealMaker Securities is not distributing any Offering Circulars or making any oral representations concerning this Offering Circular or this offering. Based upon DealMaker Securities's anticipated limited role in this offering, it has not and will not conduct extensive due diligence of this offering and no investor should rely on the involvement of DealMaker Securities in this offering as any basis for a belief that it has done extensive due diligence. DealMaker Securities does not expressly or impliedly affirm the completeness or accuracy of the Offering Statement and/or Offering Circular presented to investors by the Company. All inquiries regarding this offering should be made directly to the Company.

***Investor Fee***

Investors that invest via DealMaker will be responsible for a 2.0% transaction fee applicable to the purchase amount paid by investors at the time of investment, which amounts to $20.00 for the minimum investment amount (the "Investor Fee"). Commissions are charged on the Investor Fee. This fee is not considered part of the cost basis of the subscribed Securities and will be remitted directly to the Company. All investments will have a maximum Investor Fee of $200.00, which represents the fee for a $10,000 investment.

**Selling Securityholders**

The selling shareholders set forth below will sell up to a maximum of 28,863,891 shares of Class AAA Common Stock. The selling shareholders have already sold the maximum number of shares they may sell in the offering, and no additional sales by selling securityholders will be made.

The following table sets forth the names of the selling shareholders, the number of shares of capital stock (on an as-converted basis to Common Stock basis) beneficially owned prior to this offering, the number of shares being offered in this offering and the number of shares of Capital Stock to be beneficially owned after this offering, assuming that all of the selling shareholder shares are sold in the offering.

Subscriptions for the Class AAA Common Stock will be applied between the selling shareholders on a pro rata basis, which means that at each closing in which selling shareholders are participating, a shareholder will be able to sell its "Pro Rata Portion" of the shares that the shareholder is offering (as set forth in the table below) of the number of securities being issued to investors. For example, if after raising $10,000,000 million, the Company holds a closing for $1 million in gross proceeds, the Company will issue shares and receive gross proceeds of $770,000 while each of the selling shareholders will receive their Pro Rata Portion of the remaining $230,000 in gross proceeds and will transfer their shares to investors in this Offering. Selling shareholders will not offer fractional shares and the shares represented by a shareholder's Pro Rata Portion will be determined by rounding down to the nearest whole share. At no point will the selling securityholder shares be greater than 30% of the value of the Class AAA Common Stock issued in this Offering.

The Company's Amended and Restated Certificate Incorporation allows for the optional conversion of any outstanding class of capital stock into Class AAA Common Stock at the sole discretion of the shareholder. As a part of this Offering, all shareholders listed in the below table have granted a power of attorney to the Company to convert their stock to Class AAA Common Stock if and when they sell some or all of their stock as a part of this Offering.

Dealmaker Securities received a 5% commission on sales of Class AAA Common Stock of the selling shareholders through DealMaker's platform prior to disbursement to the selling shareholder. The Company will not receive any of the proceeds from the sale of selling shareholder's shares in the Offering.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Selling Securityholder** | **Class of Stock Owned** | **Amount of Class AAA Common Stock Owned Prior to Offering (On An As-Converted Basis)** | **Amount Offered** | **Amount Owned After Offering (Assuming Sale of All Amount Offered)** | **Selling Security Holders Pro Rata Portion (1)** |
| Garland Fund I | Series Seed Preferred | 166115772 | 4421841 | 161693931 | 17.69% |
| ARG Capital (Palchak) | Series Seed Preferred | 4500036 | 119787 | 4380249 | 0.48% |
| Charlie Mires | Series Seed Preferred | 18661752 | 496758 | 18164994 | 1.99% |
| IU Ventures (Jason Whitney) | Series Seed Preferred | 18529398 | 493235 | 18036163 | 1.97% |
| Alan Matthew | Series Seed Preferred | 2382372 | 63416 | 2318956 | 0.25% |
| Dave Hoover | Series Seed Preferred | 2382372 | 63416 | 2318956 | 0.25% |
| Seth Boston | Series Seed Preferred | 4764744 | 126833 | 4637911 | 0.51% |
| Lon Chow | Series Seed Preferred | 952884 | 25365 | 927519 | 0.10% |
| M25 Ventures (Victor Gutwein) | Series Seed Preferred | 3811698 | 101464 | 3710234 | 0.41% |
| Pallasite Ventures (Bissonette) | Series Seed Preferred | 18529398 | 493235 | 18036163 | 1.97% |
| Scott Wald | Series Seed Preferred | 7147116 | 190249 | 6956867 | 0.76% |
| Robert Wald Trust | Series Seed Preferred | 1191186 | 31708 | 1159478 | 0.13% |
| Marin Wald Trust | Series Seed Preferred | 1191186 | 31708 | 1159478 | 0.13% |
| Weiland Street Capital | Series Seed Preferred | 6114690 | 162767 | 5951923 | 0.65% |
| George Colis | Series Seed Preferred | 9529488 | 253666 | 9275822 | 1.01% |
| Irma Tan | Series Seed Preferred | 952884 | 25365 | 927519 | 0.10% |
| Sarah Somers | Series Seed Preferred | 1429326 | 38047 | 1391279 | 0.15% |
| Chris D'Cruz | Series Seed Preferred | 2858814 | 76099 | 2782715 | 0.30% |
| Kiran Panesar | Class A Common | 106698870 | 2840221 | 103858649 | 11.36% |
| Dan Novaes | Class A Common | 525121542 | 13279317 | 511842225 | 53.12% |
| Justin Hines | Options for Class B Common Stock | 10382800 | 276380 | 10106420 | 1.11% |
| Kathy DeKam | Options for Class B Common Stock | 9506852 | 253063 | 9253789 | 1.01% |
| Nick McEvily | Options for Class B Common Stock | 50185818 | 400769 | 49785049 | 1.60% |
| San Phan | Options for Class B Common Stock | 5167190.00 | 68773 | 5098417 | 0.28% |
| Mark Lawrence | Options for Class B Common Stock | 4895964 | 130326 | 4765638 | 0.52% |
| Tim Wickey | Class A Common | 8335872 | 221893 | 8113979 | 0.89% |
| Michael Israel | Class A Common | 6668730 | 44379 | 6624351 | 0.18% |
| Dan Hoffer | Options for Class B Common Stock | 7247440 | 96460 | 7150980 | 0.39% |
| Josh Moyer | Options for Class B Common Stock | 8145444 | 173459 | 7971985 | 0.69% |
|  | **Total** | **1013401638** | **24999999** | **988401639** | **100.00%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) "Pro
 Rata Portion" represents that portion that a shareholder may sell in the Offering expressed as a percentage where the numerator
 is the amount offered by the shareholder divided by the total number of shares offered by all selling shareholders.

All of the aforementioned selling securityholders will be entering into an irrevocable power of attorney ("POA") with an individual, as attorney-in-fact, in which they will be directing the Company and the attorney-in-fact to take the actions necessary in connection with the Offering and the sale of shares. This includes the conversion of any of the above securities into Class AAA Common Stock and the signature of any required subscription agreements with each purchaser.

**Transfer Agent and Registrar**

Transfer Online, Inc. will serve as transfer agent to maintain shareholder information on a book-entry basis. We will not issue shares in physical or paper form. Instead, our shares will be recorded and maintained on our shareholder register.

**Provisions of Note in Our Subscription Agreement**

***Forum Selection Provision***

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

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

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

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

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

**MODE MOBILE, INC.**

****

<br> **AUDITED CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT**

**AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023**

---

| | |
|:---|:---|
| **Index to Financial Statements** | **Page** |
| [Independent Auditor's Report](#a_001) | F-2 |
| [Consolidated Balance Sheets as of the years ended December 31, 2024 and 2023](#a_002) | F-3 |
| [Consolidated Statements of Operations and Comprehensive Income/(Loss) for the years ended December 31, 2024 and 2023](#a_003) | F-4 |
| [Consolidated Statements of Changes in Stockholders' Equity for the years ended December 31, 2024 and 2023](#a_004) | F-5 |
| [Consolidated Statements of Cash Flows for the years ended December 31, 2024 and 2023](#a_006) | F-6 |
| [Notes to Consolidated Financial Statements](#a_005) | F-7 |

---

![](partii_001.jpg)

**INDEPENDENT AUDITOR'S REPORT**

April 22, 2025

To: Board of Directors, MODE MOBILE, INC. <br> Re: 2024-2023 Financial Statement Audit

We have audited the accompanying consolidated financial statements of MODE MOBILE, INC. (a corporation organized in Delaware) (the "Company"), which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of income, shareholders' equity/deficit, and cash flows for the calendar years ended December 31, 2024 and 2023, and the related notes to the consolidated financial statements.

**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.

**Auditor's Responsibility**

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit of the Company's financial statements in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion.

An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

**Going Concern**

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in the notes to the consolidated financial statements, the Company has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its 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 the notes to the financial statements. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified with respect to this matter.

**Opinion**

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the consolidated results of its operations, shareholders' equity/deficit and cash flows for the calendar years ended December 31, 2024 and 2023 in accordance with accounting principles generally accepted in the United States of America.

Sincerely,

---

| |
|:---|
| ![](partii_002.jpg) IndigoSpire CPA, PC |
| IndigoSpire CPA, PC |
| San José, CA |

---

 **MODE MOBILE, INC.**

 **CONSOLIDATED BALANCE SHEETS**

 **As of December 31, 2024 and 2023**

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2024** | **2023** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp; Cash and cash equivalents | $6886520 | $2524045 |
| &nbsp;&nbsp;&nbsp; Accounts receivable | 2528982 | 2019220 |
| &nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets | 532059 | 353429 |
| &nbsp;&nbsp;&nbsp; Subscription receivable | 332783 |  |
| &nbsp;&nbsp;&nbsp; Other receivables | 79371 | 79371 |
| &nbsp;&nbsp;&nbsp; Inventory | 230431 | 568833 |
| &nbsp;&nbsp;&nbsp; Deferred offering costs | 4454737 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current assets | 15044883 | 5544898 |
| Property, equipment and other asssets: |  |  |
| &nbsp;&nbsp;&nbsp; Property and equipment, net | 13277 | 8984 |
| &nbsp;&nbsp;&nbsp; Cryptocurrency assets | 12531 | 26384 |
| &nbsp;&nbsp;&nbsp; Nonfungible token assets | 51060 | 51060 |
|  | 76868 | 86428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | $15121751 | $5631326 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp; Accounts payable | $1461512 | $783483 |
| &nbsp;&nbsp;&nbsp; Accrued expenses and other current liabilities | 3055817 | 782070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 4517329 | 1565553 |
| Commitments and contingencies |  |  |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp; Preferred stock, $0.0001 par value, 388,800,000 shares authorized, 353,712,906 shares issued and outstanding as of both December 31, 2024 and December 31, 2023, liquidation preference of $4,759,840 as of both December 31, 2024 and December 31, 2023 | 35371 | 35371 |
| &nbsp;&nbsp;&nbsp; Class A common stock, $0.0001 par value, 2,125,000,000 shares authorized, 646,825,014 shares issued and outstanding as of both December 31, 2024 and December 31, 2023 | 64683 | 64683 |
| &nbsp;&nbsp;&nbsp; Class B common stock, $0.0001 par value, 268,000,000 shares authorized, 20,737,172 and 9,962,438 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively | 2073 | 996 |
| &nbsp;&nbsp;&nbsp; Class C common stock, $0.0001 par value, 12,150,000 shares authorized, 10,993,629 shares issued and outstanding as of both December 31, 2024 and December 31, 2023 | 1099 | 1099 |
| &nbsp;&nbsp;&nbsp; Class AAA common stock, $0.0001 par value, 600,000,000 shares authorized, 149,320,399 and 60,980,343 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively | 14932 | 6098 |
| &nbsp;&nbsp;&nbsp; Additional paid-in capital | 18212726 | 8426006 |
| &nbsp;&nbsp;&nbsp; Treasury stock | (150000) | (150000) |
| &nbsp;&nbsp;&nbsp; Accumulated deficit | (7576463) | (4318480) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total stockholders' equity | 10604422 | 4065773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities and stockholders' equity | $15121751 | $5631326 |

---

See accompanying independent auditor's report and notes, which are an integral part of these consolidated financial statements

**MODE MOBILE, INC.**

**CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME**

**As of December 31, 2024 and 2023**

---

| | | |
|:---|:---|:---|
|  | **Year Ended** | **Year Ended** |
|  | **December 31,** | **December 31,** |
|  | **2024** | **2023** |
| Net revenues | $12165275 | $8226428 |
| Cost of net revenues | 1110492 | 956463 |
| &nbsp;&nbsp;&nbsp; Gross profit | 11054783 | 7269964 |
|  | 90.87% | 88.37% |
| Operating expenses: |  |  |
| &nbsp;&nbsp;&nbsp; Sales and marketing | 5842705 | 4906434 |
| &nbsp;&nbsp;&nbsp; Research and development | 4240451 | 5190493 |
| &nbsp;&nbsp;&nbsp; General and administrative | 4707651 | 3244007 |
| &nbsp;&nbsp;&nbsp; Impairment of long-lived assets | - | 7092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total operating expenses | 14790807 | 13348026 |
| Loss from operations | (3736024) | (6078061) |
| Other income (expense), net: |  |  |
| &nbsp;&nbsp;&nbsp; Realized gains (losses) on cryptocurrency sales | 376905 | 623344 |
| &nbsp;&nbsp;&nbsp; Impairment of nonfungible token assets |  | (119139) |
| &nbsp;&nbsp;&nbsp; Other income | 101137 | 2215323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total other income (expense), net | 478042 | 2719528 |
| Provision for income taxes | - | - |
| Net loss | $(3257982) | $(3358533) |
| Weighted average common shares outstanding - basic and diluted | 777639951 | 694127771 |
| Net income (loss) per common share - basic and diluted | $(0.004) | $(0.005) |

---

See accompanying independent auditor's report and notes, which are an integral part of these consolidated financial statements

**MODE MOBILE, INC.**

**CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY**

**For the years ended December 31, 2024 and 2023**

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Series Seed** | **Series Seed** | **Common Stock** | **Common Stock** | **Common Stock** | **Common Stock** | **Common Stock** | **Common Stock** | **Common Stock** | **Common Stock** | | | | |
|  | **Preferred Stock** | **Preferred Stock** | **Class A** | **Class A** | **Class B** | **Class B** | **Class C** | **Class C** | **Class AAA** | **Class AAA** | | | | |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Additional**<br> **Paid-in**<br> **Capital** |<br> **Treasury**<br> **Stock** |<br> **Accumulated**<br> **Deficit** | **Total**<br> **Stockholders'**<br> **Equity** |
| **Balances at December 31, 2022** | 353712906 | $35371 | 646825014 | $64683 | 5301936 | $530 |  | $- |  | $- | $5321618 | $(150000) | $(959947) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4312255 |
| Issuance of Class C common shares pursuant to royalty liability |  |  |  |  |  |  | 10993629 | 1099 |  |  | 285956 |  |  | 287056 |
| Issuance of Class AAA common stock pursuant to Regulation CF offering |  |  |  |  |  |  |  |  | 60980343 | 6098 | 5138492 |  |  | 5144590 |
| Exercise of options |  |  |  |  | 4660502 | 466 |  |  |  |  | 4270 |  |  | 4736 |
| Stock-based compensation |  |  |  |  |  |  |  |  |  |  | 847243 |  |  | 847243 |
| Offering costs |  |  |  |  |  |  |  |  |  |  | (3171573) |  |  | (3171573) |
| Net loss | - | - | - | - | - | - | - | - | - | - | - | - | (3358533) | (3358533) |
| **Balances at December 31, 2023** | 353712906 | $35371 | 646825014 | $64683 | 9962438 | $996 | 10993629 | $1099 | 60980343 | $6098 | $8426006 | $(150000) | $(4318480) | $4065773 |
| Issuance of Class AAA common stock pursuant to Regulation CF offering |  |  |  |  |  |  |  |  | 88340056 | 8834 | 10487542 |  |  | 10496376 |
| Exercise of options |  |  |  |  | 10774734 | 1077 |  |  |  |  | 8405 |  |  | 9482 |
| Stock-based compensation |  |  |  |  |  |  |  |  |  |  | 775686 |  |  | 775686 |
| Offering costs |  |  |  |  |  |  |  |  |  |  | (1484912) |  |  | (1484912) |
| Net loss | - | - | - | - | - | - | - | - | - | - | - | - | (3257983) | (3257983) |
| **Balances at December 31, 2024** | 353712906 | $35371 | 646825014 | $64683 | 20737172 | $2073 | 10993629 | $1099 | 149320399 | $14932 | $18212726 | $(150000) | $(7576463) | $10604421 |

---

See accompanying independent auditor's report and notes, which are an integral part of these consolidated financial statements.

 **MODE MOBILE, INC.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

**For the years ended December 31, 2024 and 2023**

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2024** | **2023** |
| **Cash flows from operating activities:** |  |  |
| Net loss | $(3257982) | $(3358533) |
| Adjustments to reconcile net loss to net cash provided used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp; Depreciation and amortization | 5370 | 50100 |
| &nbsp;&nbsp;&nbsp; Realized gains on cryptocurrency sales | (376905) | (623344) |
| &nbsp;&nbsp;&nbsp; Loss on disposal of assets |  | 17944 |
| &nbsp;&nbsp;&nbsp; Bad debt | 103143 | 219102 |
| &nbsp;&nbsp;&nbsp; Impairment of nonfungible token assets |  | 119139 |
| &nbsp;&nbsp;&nbsp; Impairment expense |  | 7092 |
| &nbsp;&nbsp;&nbsp; Stock-based compensation | 775686 | 847243 |
| &nbsp;&nbsp;&nbsp; Forgiveness of royalty liability |  | (1612944) |
| &nbsp;&nbsp;&nbsp; Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable | (612905) | 427515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets | (178630) | 254989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventory | 338402 | (302534) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other receivables |  | (79371) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subscription receivable | (332783) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | 408211 | 195241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses and other current liabilities | 2273746 | 691308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash used in operating activities | (854646) | (3147054) |
| **Cash flows from investing activities:** |  |  |
| Proceeds from cryptocurrency sales | 660576 | 706250 |
| Purchase of property and equipment | (9663) | (17414) |
| Deposits | - | 1150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash provided by investing activities | 650913 | 689986 |
| **Cash flows from financing activities:** |  |  |
| Deferred offering costs | (4454737) | 214506 |
| Issuance of common stock, net of offering costs | 9011464 | 1973017 |
| Exercise of options | 9482 | 4736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash used in financing activities | 4566208 | 2192259 |
| **Net change in cash and cash equivalents** | 4362475 | (264809) |
| Cash and cash equivalents at beginning of period | 2524045 | 2788854 |
| Cash and cash equivalents at end of period | $6886520 | $2524045 |
| **Supplemental disclosure of cash flow information:** |  |  |
| Cash paid for income taxes | $- | $- |
| Cash paid for interest | $- | $- |
| **Supplemental disclosure of cash flow information:** |  |  |
| Issuance of Class C common shares pursuant to royalty liability | $- | $287056 |
| Purchase of cryptocurrency | $269818 | $- |

---

See accompanying independent auditor's report and notes, which are an integral part of these consolidated financial statements

M**ODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

**1.** **NATURE OF OPERATIONS** 

Mode Mobile, Inc. (collectively, the "Company" or "Mode Mobile") is a technology company that operates the Mode EarnOS enabling users the ability to earn rewards on a single platform for interacting with digital content on their smartphones. The Company also offers the Mode EarnPhone, a smartphone embedded with the Company's EarnOS software for a more integrated and enhanced earnings experience. The consolidated financial statements consist of the following entities (each an "Entity", collectively the "Entities"):

● Mode Mobile, Inc., a Delaware Corporation organized on April 23, 2015. Mode Mobile, Inc. is a holding company which owns 100% of Mode Mobile, LLC's membership interests. Mode Mobile, Inc. was previously known as Nativ Mobile Inc. before a name change on October 25, 2022 and prior to that, was known as Nativ Mobile, LLC before a name change on February 25, 2021.

● Mode Mobile, LLC, a Delaware Limited Liability Company organized on April 25, 2017 and is a 100% wholly owned subsidiary of Mode Mobile, Inc. Mode Mobile, LLC was organized to develop an earnings ecosystem where users would be rewarded for their time, attention and data. Mode Mobile, LLC was previously known as Current Mobile, LLC before a name change on February 4, 2022 and prior to that, was known as Current Media, LLC before a name change on March 10, 2021.

● Mode Phone, LLC, an Illinois Limited Liability Company organized on November 10, 2020 and is a 100% wholly owned subsidiary of Mode Mobile, Inc. Mode Phone, LLC was organized to build out and support the Company's smartphone business, which focuses on the marketing and distribution of the Mode Earn Phone.

● Current (Gibraltar) Limited ("CGL"), a Gibraltar Company organized on June 19, 2018. The Entity was organized to develop a rewards protocol, the purpose of which is intended to be used as a rewards distribution mechanism through a deep partnership with Mode Mobile and its user base. Mode Mobile, Inc has 100% voting rights and 0% economic rights to CGL.

The above entity structure has been in effect since February 25, 2021, on which date the Company consummated a corporate reorganization transaction (the "Reorganization") where, among other things, Mode Mobile, Inc. converted its corporate status from a limited liability company to a C-corporation and became a holding company for the Company's operating entities. Prior to the consummation of the corporate reorganization transaction, MobileX Labs, LLC, a now-defunct Indiana limited liability company formed in 2012, served as the entity through which all profits and losses ultimately flowed for tax purposes. On the effective date of the corporate reorganization, MobileX Labs, LLC was dissolved in accordance with applicable state law. The primary purpose of the corporate reorganization was to align the investments of the now-existing preferred stockholders into one single entity.

**2.** **SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** 

***Basis of Presentation***

The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America ("GAAP"). The Company's fiscal year is December 31.

The consolidated financial statements have been presented to reflect the capital structure per the Reorganization on a retroactive basis.

***Principles of Consolidation***

 ****

These consolidated financial statements include the accounts of Mode Mobile and its subsidiaries Mode Mobile, LLC, Mode Phone, LLC and CGL. All intercompany transactions and balances have been eliminated in consolidation.

The Company evaluates its relationships with other entities to identify whether they are variable interest entities ("VIE") as defined by Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 810, Consolidation ("ASC 810"), and to assess whether it is the primary beneficiary of such entities. If the determination is made that the Company is the primary beneficiary, then that entity is consolidated.

M**ODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

***Reverse Stock Split***

On February 28, 2023, the Board of Directors approved a 162-for-1 forward stock split of its issued and outstanding shares of common and preferred stock. Accordingly, all share and per share amounts for all periods presented in the accompanying consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this forward stock split.

***Use of Estimates***

The preparation of the Company's consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the valuations of common stock, amortization of performance obligation liabilities and valuation of cryptocurrency assets. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.

***Reclassifications***

Certain amounts were reclassified from prior year to conform with current year's presentation. Primarily, user redemptions previously included in cost of net revenues were reclassified to sales and marketing expenses.

***Concentrations of Credit Risk***

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in financial institutions, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. As of December 31, 2024 and 2023, the Company had not experienced losses on these accounts and held uninsured deposit amounts of $6,636,520 and $2,274,045 respectively.

***Cash and Cash Equivalents***

The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents.

***Fair Value Measurements***

Certain assets and liabilities of the Company are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:

● Level 1—Quoted prices in active markets for identical assets or liabilities.

● Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.

● Level 3—Unobservable inputs that are supported by little or no market activity that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.

The carrying values of the Company's assets and liabilities approximate their fair values.

M**ODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

***Accounts Receivable***

The Company's account receivables are due from customers primarily due to the Company's marketing revenue. The Company also maintains allowances for doubtful accounts for estimated losses resulting from the inability of the Company's customers to make payments. The Company periodically reviews these estimated allowances, including an analysis of the customers' payment history and creditworthiness, the age of the trade receivable balances and current economic conditions that may affect a customer's ability to make payments as well as historical collection trends for its customers as a whole. Based on this review, the Company specifically reserves for those accounts deemed uncollectible or likely to become uncollectible. When receivables are determined to be uncollectible, principal amounts of such receivables outstanding are deducted from the allowance. As of December 31, 2024 and 2023, there was a $674,623 and $764,438 allowance for doubtful accounts, respectively.

***Inventory***

 ****

The Company's inventory consists of finished goods pertaining to the Company's hardware phones. The inventory is valued at the lower of cost (weighted-average) or estimated net realizable value. Inventory balances are evaluated for excess quantities and obsolescence on a regular basis by analyzing estimated demand, inventory on hand, sales levels and other information and reduce inventory balances to net realizable value for excess and obsolete inventory based on this analysis. At the point of the write-down recognition, a new, lower cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis. Management believes there was no impairment of inventory as of both December 31, 2024 and 2023.

***Property and Equipment, Net***

Property and equipment are stated at cost less accumulated depreciation and amortization. Property and equipment consists of computer equipment, furniture and fixtures and office equipment, and depreciation expense is recognized using the straight-line method over the estimated useful life of five years for computer equipment, seven years for furniture and fixtures, and five to fifteen years for office equipment.

When assets are retired or otherwise disposed of, the cost, accumulated depreciation and amortization are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of operations in the period realized. Maintenance and repairs that do not enhance or extend the asset's useful life are charged to operating expenses as incurred.

The following is a summary of property and equipment:

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2024** | **2023** |
| Computer equipment | $19985 | $10322 |
| Less: Accumulated depreciation | (6708) | (1338) |
| &nbsp;&nbsp;&nbsp; Property and equipment, net | $13277 | $8984 |

---

Depreciation expense was $5,370 and $1,338 for the years ended December 31, 2024 and 2023 respectively.

 ****

***Impairment of Long-Lived Assets***

The Company evaluates the recoverability of the carrying value of long-lived assets held and used in its operations for impairment on at least an annual basis or whenever events or changes in circumstances indicate that their carrying value may not be recoverable. When such factors and circumstances exist, the Company compares the projected undiscounted future net cash flows associated with the related asset or group of assets over their estimated useful lives against their respective carrying amount. These projected future cash flows may vary significantly over time as a result of increased competition, changes in technology, fluctuations in demand, consolidation of its customers and reductions in average sales prices. If the carrying value is determined not to be recoverable from future operating cash flows, the asset is deemed impaired, and an impairment loss is recognized to the extent the carrying value exceeds the estimated fair value of the asset. The fair value of the asset or asset group is based on market value when available, or when unavailable, on discounted expected cash flows.

M**ODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

***Intangible Assets***

Intangible assets are amortized over the respective estimated lives, unless the lives are determined to be indefinite and reviewed for impairment whenever events or other changes in circumstances indicate that the carrying amount may not be recoverable. Impairment testing compares carrying values to fair values and, when appropriate, the carrying value of these assets is reduced to fair value. Impairment charges, if any, are recorded in the period in which the impairment is determined.

*Digital Assets – Cryptocurrencies and Nonfungible Tokens*

The Company initially records cryptocurrency and nonfungible tokens ("NFTs") when received at cost, and subsequently adjusts each reporting period to the lower of cost or fair value. The Company recognizes an impairment charge on these assets arising from decreases in market value based upon Level 2 inputs (see Note 4), being actively traded exchange's closing prices at each reporting date, whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Such impairment in the value of cryptocurrencies and NFTs are recorded in the consolidated statements of operations.

During the years ended December 31, 2024 and 2023, the Company recorded $0 and $119,139, respectively on impairment related to its NFTs.

The Company realizes gains and losses upon sale or transfer of cryptocurrencies and NFTs, and are recorded under other income (expense) in the consolidated statements of operations. The Company uses cryptocurrencies to convert cryptocurrency holdings to other cryptocurrencies and US dollars as needed to fund operations. The gains and losses recognized from non-cash transactions are reflected as adjustments to reconcile to operating cash flows in the consolidated statements of cash flows.

***Software Development Costs***

The Company expenses software development costs as incurred. Such software development costs have been reflected as a reduction to the SAFT performance obligation.

***Revenue Recognition***

The Company adopted ASU 2014-09, *Revenue from Contracts with Customers*, and its related amendments (collectively known as "ASC 606"), effective January 1, 2019 using the modified retrospective transition approach applied to all contracts. Therefore, the reported results for the years ended December 31, 2024 and 2023 reflect the application of ASC 606. Management determined that there were no retroactive adjustments necessary to revenue recognition upon the adoption of the ASU 2014-09. The Company determines revenue recognition through the following steps:

● Identification of a contract with a customer;

● Identification of the performance obligations in the contract;

● Determination of the transaction price;

● Allocation of the transaction price to the performance obligations in the contract; and

● Recognition of revenue when or as the performance obligations are satisfied.

Revenue is recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. As a practical expedient, the Company does not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between customer payment and the transfer of goods or services is expected to be one year or less.

The Company's Mode Earn App enables users the ability to earn rewards on a single platform for interacting with digital content on their smartphones. Mode Mobile drives user engagement and monetizes user activity primarily through digital marketing revenue from advertising partners (including ad networks, ad exchanges, and brand partners). The Company satisfies performance obligations and recognizes revenue over time.

The Company also generates revenue from proof-of-concept phone hardware sales. Control transfers at a point in time, and as such, revenue is recognized upon shipment. This includes the transfer of legal title, physical possession, the risks and rewards of ownership, and customer acceptance. For proof-of-concept subscriptions, control transfers over time, and as such, revenue is recognized on a straight-line basis.

M**ODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

Revenue by source consisted of the following for the years ended December 31, 2024 and 2023:

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2024** | **2023** |
| Advertising and software subscriptions | $10322289 | $7127559 |
| Other (including hardware) | 1842986 | 1098869 |
| Net revenues | $12165275 | $8226428 |

---

***Contract Balances***

The Company invoices customers based upon contractual billing schedules, and accounts receivable are recorded when the right to consideration becomes unconditional. Contract liabilities represent prepayments received in advance of performance obligations met.

As of December 31, 2024, the Company has deferred revenue of $37,774.

***Cost of Net Revenues***

Cost of net revenues includes hosting costs, as well as the product and related fulfillment costs of hardware products sold.

***Advertising and Promotion***

Advertising and promotional costs are expensed as incurred. Advertising costs were approximately $2,102,000 and $1,895,000 for the years ended December 31, 2024 and 2023, respectively, and are included in sales and marketing expenses in the consolidated statements of operations.

***Sales and Marketing***

Sales and marketing expenses include user redemptions on the Mode Earn App. The Company shares a portion of generated revenue with users and also facilitates earnings and savings for users directly from advertising brands. Monthly user redemption costs represent the dollar value of rewards redeemed by users that are paid out by the Company. Sales and marketing also include advertising costs, other marketing efforts for customer acquisition.

***Research and Development Costs***

Costs incurred in the research and development of the Company's technology and products are expensed as incurred.

***General and Administrative Expenses***

General and administrative expenses consist primarily of payroll and payroll-related benefits and taxes, professional services, administrative expenditures, and information technology.

***Accounting for Preferred Stock***

ASC 480, *Distinguishing Liabilities from Equity*, includes standards for how an issuer of equity (including equity shares issued by consolidated entities) classifies and measures on its consolidated balance sheet certain financial instruments with characteristics of both liabilities and equity.

Management is required to determine the presentation for the preferred stock as a result of the redemption and conversion provisions, among other provisions in the agreement. Specifically, management is required to determine whether the embedded conversion feature in the preferred stock is clearly and closely related to the host instrument, and whether the bifurcation of the conversion feature is required and whether the conversion feature should be accounted for as a derivative instrument. If the host instrument and conversion feature are determined to be clearly and closely related (both more akin to equity), derivative liability accounting under ASC 815, *Derivatives and Hedging*, is not required. Management determined that the host contract of the preferred stock is more akin to equity, and accordingly, liability accounting is not required by the Company. The Company has presented preferred stock within stockholders' equity.

M**ODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

Costs incurred directly for the issuance of the preferred stock are recorded as a reduction of gross proceeds received by the Company, resulting in a discount to the preferred stock. The discount is not amortized.

***Accounting for Equity Units***

Financial instruments issued by the Company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset. The Company's common shares are classified as equity instruments. Common shares issued for consideration other than cash are valued at the fair value of the assets received or the services rendered. If the fair value of the assets received or services rendered cannot be reliably measured, common shares issued for consideration will be valued at their fair value on the date of issuance.

***Stock-Based Compensation***

The Company measures all stock-based awards granted to employees and directors based on the fair value on the date of the grant and recognizes compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. The Company issues stock-based awards with only service-based vesting conditions and records the expense for these awards using the straight-line method. For awards with performance-based vesting conditions, the Company records the expense if and when the Company concludes that it is probable that the performance condition will be achieved.

The Company classifies stock-based compensation expense in its statement of operations in the same manner in which the award recipient's payroll costs are classified or in which the award recipient's service payments are classified.

The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model. The Company historically has been a private company and lacks company-specific historical and implied volatility information for its stock. Therefore, it estimates its expected stock price volatility based on the historical volatility of publicly traded peer companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded stock price. The expected term of the Company's stock options has been determined utilizing the "simplified" method for awards that qualify as "plain-vanilla" options. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Company has never paid cash dividends on common stock and does not expect to pay any cash dividends in the foreseeable future. The Company recognizes forfeitures as they occur as there is insufficient historical data to accurately determine future forfeitures rates. Determining the appropriate fair value of stock-based awards requires the input of subjective assumptions. The assumptions used in calculating the fair value of stock-based awards represent management's best estimates and involve inherent uncertainties and the application of management's judgment. As a result, if factors change and management uses different assumptions, stock-based compensation expense could be materially different for future awards.

The Company records an expense for stock issued for services as an expense based on the number of shares issued and fair value of the underlying stock issued to the recipient.

***Deferred Offering Costs***

The Company complies with the requirements of FASB ASC 340-10-S99-1 with regards to offering costs. Prior to the completion of an offering, offering costs are capitalized. The deferred offering costs are charged to additional paid-in capital or as a discount to debt, as applicable, upon the completion of an offering or to expense if the offering is not completed.

As of December 31, 2024 and 2023, the Company had capitalized $4,454,737 and $0 in deferred offering costs, respectively.

***Income Taxes***

The Company uses the liability method of accounting for income taxes as set forth in ASC 740, Income Taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is unlikely that the deferred tax assets will not be realized. The Company assesses its income tax positions and records tax benefits for all years subject to examination based upon the evaluation of the facts, circumstances and information available at the reporting date. In accordance with ASC 740-10, for those tax positions where there is a greater than 50% likelihood that a tax benefit will be sustained, the Company's policy will be to record the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where there is less than 50% likelihood that a tax benefit will be sustained, no tax benefit will be recognized.

M**ODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

***Leases***

 ****

On January 1, 2022, the Company adopted ASC 842, Leases, as amended, which supersedes the lease accounting guidance under Topic 840, and generally requires lessees to recognize operating and finance lease liabilities and corresponding right-of-use (ROU) assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from lease arrangements. The Company adopted the new guidance using a modified retrospective method. Under this method, the Company elected to apply the new accounting standard only to the most recent period presented, recognizing the cumulative effect of the accounting change, if any, as an adjustment to the beginning balance of retained earnings. Accordingly, prior periods have not been recast to reflect the new accounting standard. The cumulative effect of applying the provisions of ASC 842 had no material impact on accumulated deficit.

The Company elected transitional practical expedients for existing leases which eliminated the requirements to reassess existing lease classification, initial direct costs, and whether contracts contain leases. Also, the Company elected to present the payments associated with short-term leases as an expense in statements of operations. Short-term leases are leases with a lease term of 12 months or less. The adoption of ASC 842 had no impact on the Company's balance sheet.

***Net Loss per Share***

 ****

Net earnings or loss per share is computed by dividing net income or loss by the weighted-average number of common shares outstanding during the period, excluding shares subject to redemption or forfeiture. The Company presents basic and diluted net earnings or loss per share. Diluted net earnings or loss per share reflect the actual weighted average of common shares issued and outstanding during the period, adjusted for potentially dilutive securities outstanding. Potentially dilutive securities are excluded from the computation of the diluted net loss per share if their inclusion would be anti-dilutive. As all potentially dilutive securities are anti-dilutive as of December 31, 2024 and 2023, diluted net loss per share is the same as basic net loss per share. Potentially dilutive items included the following:

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2024** | **2023** |
| Series Seed convertible preferred stock | 353712906 | 353712906 |
| Stock options | 209713228 | 212564838 |
| Warrants | 3721875 | 812500 |
| Total potentially dilutive shares | 567148009 | 567090244 |

---

***Recently Adopted Accounting Pronouncements***

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures, which requires disclosure of incremental segment information on an annual and interim basis, primarily disclosure of significant segment expense categories and amounts for each reportable segment. The new standard is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-07 in the annual financial statements for year ended December 31, 2024, and for interim periods beginning in 2025. The adoption of ASU 2023-07 did not have a significant impact on the Company's consolidated financial statements.

Management does not believe that any other recently issued, but not yet effective, accounting standards could have a material effect on the accompanying consolidated financial statements. As new accounting pronouncements are issued, the Company will adopt those that are applicable under the circumstances.

**3.** **GOING CONCERN** 

The Company has evaluated whether there are certain conditions and events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the consolidated financial statements are issued.

M**ODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has net cash used in operating activities of $854,646 and $3,147,054 for the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024, the Company had an accumulated deficit of $7,576,463. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. The Company's ability to continue as a going concern for the next twelve months is dependent upon its ability to generate sufficient cash flows from operations to meet its obligations, which it has not been able to accomplish to date, and/or to obtain additional capital financing. No assurance can be given that the Company will be successful in these efforts. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities.

**4.** **CRYPTOCURRENCIES AND NFTs** 

Due to the lack of authoritative guidance under GAAP, the Company accounts for its holdings in cryptocurrency as intangible assets. As a result, the Company initially measures the cryptocurrency at cost. Since there is no limit on the useful life of the cryptocurrencies, they are classified as indefinite-lived intangible assets.

Indefinite-lived intangible assets are not subject to amortization, but rather are tested for impairment on an annual basis and more frequently if events or circumstances change that indicate that it is more likely than not that the asset is impaired. As a result, the Company recognizes decreases in the value of its holdings in cryptocurrency. Both Bitcoin and Ether are traded on exchanges in which there are observable prices in an active market. The Company considers quoted prices below its carrying cost to be an impairment indicator. The quoted price and observable prices are determined by the Company using a principal market analysis in accordance with ASC 820, *Fair Value Measurement*.

The Company considers each cryptocurrency as a separate unit of account when evaluating cryptocurrencies for impairment. The Company tracks the weighted average unit cost of each cryptocurrency received or purchased, when performing impairment testing and upon disposition either through sale or exchanged for goods or services.

The Company designates certain cryptocurrency transactions as fair value hedges to hedge volatility and market value risks for our cryptocurrencies. Fair value hedge amounts included in the assessment of hedge effectiveness are recognized in other income (expense), net, along with the offsetting gains and losses of the related hedged items.

*Cryptocurrencies*

 

Realized gains on cryptocurrency holdings were $376,905 and $623,344 for the years ended December 31, 2024, and 2023, respectively. The Company recorded no impairment charges against its cryptocurrency holdings in 2024 or 2023.

The indefinite lived intangible activity for the year ended December 31, 2024, are as follows:

---

| | |
|:---|:---|
|  | **Cryptocurrency<br> assets** |
| Balance at December 31, 2022 | $108583 |
| Purchase of cryptocurrency | 707 |
| Sales of cryptocurrency | (706250) |
| Realized gains on cryptocurrency sales | 623344 |
| Balance at December 31, 2023 | 26384 |
| Purchase of cryptocurrency | 269818 |
| Sales of cryptocurrency | (660576) |
| Realized gains on cryptocurrency sales | 376905 |
| Balance at December 31, 2024 | $12531 |

---

**MODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

*Nonfungible Token Assets*

 

The Company owns a portfolio of NFT assets that were first acquired in early 2022. The following is a summary of NFT activity for 2024:

---

| | |
|:---|:---|
|  | **Nonfungible**<br> **token assets** |
| Balance at December 31, 2023 | $51060 |
| Purchases of NFTs |  |
| Impairment | - |
| Balance at December 31, 2024 | $51060 |

---

**5.** **SAFT PERFORMANCE OBLIGATION LIABILITY** 

In 2018, the Company (via Nativ Mobile, LLC) conducted and completed a token offering pursuant to a side-by-side, U.S. Securities Act Regulation D and Regulation S offering where it offered $CRNC tokens to investors in consideration for their investments. Due to a disclosed delay in delivering tokens to investors, the investments were executed pursuant to "Simple Agreement(s) for Future Tokens" ("SAFTs"), which, among other things, contemplated the Company delivering $CRNC tokens to investors in advance of a network launch. The proceeds of this offering were contemplated to be used for the further buildout of the $CRNC Network, which was designed to serve as a robust earnings ecosystem for network participants (the "Project"). $CRNC tokens were designed to serve as the in-network currency for the $CRNC earnings ecosystem.

The initial SAFT proceeds of $26 million for developing the Project was recorded as a performance obligation liability, net of costs incurred in satisfying the performance obligations created in the token offering. The SAFTs do not provide the holder with a security interest in the issuing entity, Current (Gibraltar) Limited, or establish an economic or ownership right to the performance of specific assets, nor is there a form of partnership, joint venture, agency or any similar relationship between a token holder and the Company and/or other individuals or entities involved with the Project. The tokens do not pay interest and have no maturity date. The tokens confer only the right to services in the Project and confer no other rights of any form with respect to us including, but not limited to, any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property), or other financial or legal rights.

The Company evaluated the terms of the Company's $CRNC tokens and determined that, when sold, these tokens represent an obligation by the Company with counterparties that were determined to not be customers. Therefore, the Company determined that the tokens, when sold, are similar by analogy to debt securities under ASC 320, *Investments – Debt and Equity Securities ("ASC 320").* ASC 320 applies to all debt securities and defines a debt security as any security representing a creditor relationship. Based on its terms, the SAFT tokens are not debt securities in legal form, but are considered an obligation (as defined by FASB Concepts Statement No. 6, *Elements of Financial Statements)* of the Company as issuer, since the Company represented that the proceeds raised would be used to fund future development of the Project. Therefore, the Company considers the $CRNC token, when sold, as an obligation in accordance with ASC 320, which effectively creates a creditor relationship to holders of its tokens.

The Company has considered the costs to satisfy its performance obligations and determined that the Project represents a "funded software arrangement", and the parties who purchased tokens contributed towards the funding of the Project represent collaborators and not customers. Therefore, software development costs related to the Project were applied against the performance obligation.

The SAFT performance obligation liability was $0 as of both December 31, 2024 and 2023.

During the years ended December 31, 2024 and 2023, payments made on software development for performance obligations totaled $0 and $0, respectively, which were credited to operating expenses in the consolidated statements of operations.

On account of the delay in the launch of the Project by introducing $CRNC tokens into the Project ecosystem, the Company elected to pay investors a royalty based on the Company's financial performance in 2021. Based on what each individual investor elected to receive, the consideration paid to investors on account of the royalty were either additional $CRNC tokens or shares in the Company. The value of the royalty was $1,900,000 and the number of $CRNC tokens or Company shares an investor would receive was based on the original investment amount paid at the time of the execution of the SAFTs. Approximately 86% of investors elected to receive additional $CRNC tokens and 14% of investors elected to receive Company shares. Accordingly, the Company has recognized a royalty liability of $1,900,000 as of December 31, 2022. The liability will be released based on the ultimate distribution means, increasing the performance obligation for token issuances and recording paid-in capital for share issuances, when distribution occurs in 2023. In the year ended December 31, 2023, a total of $287,056 of the royalty was released in exchange of the issuance of 10,993,629 of the Company's shares of Class C common stock. During the year ended December 31, 2023, the Company determined that no further obligation existed, and as such recorded a gain on the royalty liability of $1,692,511 to other income in the consolidated statements of operations and comprehensive loss. As of December 31, 2024, the remaining balance of the royalty liability was $0.

**MODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

**6.** **STOCKHOLDERS' EQUITY** 

***Convertible Preferred Stock***

The Company has issued Series Seed convertible preferred stock. The Company's certificate of incorporation, as amended and restated, authorized the Company to issue a total of 388,800,000 shares of Preferred Stock, of which all are designated as Series Seed Preferred Stock. The Preferred Stock have a par value of $0.0001 per share.

The holders of the Preferred Stock have the following rights and preferences:

*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 a meeting), each holder of outstanding shares of Preferred Stock 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. Except as provided by law or by the other provisions of the Company's Amended and Restated Certificate of Incorporation, holders of Preferred Stock shall vote together with the holders of Common Stock as a single class and on an as converted to Common Stock basis.

The Company shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without the written consent or affirmative vote of at least a majority of the outstanding shares of Preferred Stock, voting together as a single class on an as-converted to Common Stock basis:

---

| |
|:---|
| purchase or pay or declare any dividend on any capital stock other than (i) dividends payable on the Common Stock solely in the form of additional shares of Common Stock, (ii) redemptions of dividends or distributions on the Series Seed Preferred stock and (iii) stock repurchased from former employees, officers, directors or others who performed services for the Company |
| create or hold capital stock in any subsidiary that is not a wholly-owned subsidiary |

---

At any time when at least 70,596,360 shares of Series Seed Preferred Stock remain outstanding, the Company shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, without the written consent or affirmative vote of at least a majority of the outstanding shares of Preferred Stock, voting together as a single class on an as-converted to Common Stock basis, amend, alter or repeal any provision of the Company's Amended and Restated Certificate of Incorporation or Bylaws of the Company in a manner that substantially and disproportionally adversely affects the powers, preferences or rights of the Series Seed Preferred Stock.

*Dividends*

The Company shall not declare, pay or set aside any dividends on shares of any other class or series of capital stock of the Company unless (in addition to the obtaining of any consents required elsewhere in the Company's Amended and Restated Certificate of incorporation) the holders of the Preferred Stock then outstanding shall first receive, or simultaneously receive, a dividend on each outstanding share of Preferred Stock as defined in the Company's Amended and Restated Certificate of Incorporation. The Preferred Stock dividend rates contain certain dilution protections.

**MODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

*Liquidation*

In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, the holders of shares of each series of Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Company available for distribution to its stockholders and, in the event of a deemed liquidation event, the holders of shares of each series of Preferred Stock then outstanding shall be entitled to be paid out of the consideration payable to stockholders in such deemed liquidation event or out of the available proceeds, as applicable, on a pari passu basis among each other, the greater of (i) an amount per share equal to one times the applicable Original Issue Price (as defined below), plus any dividends declared but unpaid thereon, payable before any payment shall be made to the holders of Common Stock by reason of their ownership thereof (the amounts payable pursuant to this clause (i) are hereinafter referred to as the "Preferred Liquidation Amounts"), or (ii) such amount per share as would have been payable had all shares of such series of Preferred Stock (and all shares of all other series of Preferred Stock that would receive a larger distribution per share if such series of Preferred Stock and all such other series of Preferred Stock were converted into Common 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 shares of Preferred Stock the full amount to which they shall be entitled, the holders of shares 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.

The Series Seed Original Issue Price is $0.01345679 per share, subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series Seed Preferred Stock. After payment of the Preferred Liquidation Amounts, remaining assets are distributed ratably to holders of Common Stock.

The liquidation preference as of both December 31, 2024 and 2023 was $4,759,840.

*Anti-Dilution Rights*

 

Holders of Series Seed Preferred Stock have the benefit of anti-dilution protective provisions that will be applied to adjust the number of shares of Common Stock issuable upon conversion of the shares of the Preferred Stock. If equity securities are subsequently issued by the Company at a price per share less than the conversion price of a series of Preferred Stock then in effect, the conversion price of the affected series of Preferred Stock will be adjusted using a broad-based, weighted-average adjustment formula as set out in the Company's Amended and Restated Certificate of Incorporation. Preferred Stock has certain protections against additional issuances of Common Stock.

*Conversion*

 

Each share of Series Seed Preferred Stock shall be convertible, at the option of the holder thereof, at any time and from time to time, and without the payment of additional consideration by the holder thereof, into such number of fully paid and non-assessable shares of Class A Common Stock as is determined by dividing the applicable original issue price by the applicable conversion price in effect at the time of conversion. The Series Seed conversion price is $0.01345679 per share.

Additionally, each share of Series Seed Preferred Stock will automatically convert into shares of Class A Common Stock (i) immediately prior to the closing at a price of at least 3 times the Series Seed Original Issue Price of a firm commitment underwritten public offering, registered under the Securities Act of 1933, as amended (the "Securities Act") or (ii) a vote or written consent of a majority of the outstanding shares of Preferred Stock, voting together as a single class on an as-converted to Common Stock basis, and a vote of the key holders of common stock, as defined in the Company's Amended Articles of Incorporation.

***Common Stock***

The Company authorized 2,125,000,000 shares of Class A Common Stock, 268,000,000 shares of Class B Common Stock, 12,150,000 shares of Class C Common Stock and 600,000,000 shares of Class AAA Common Stock at $0.0001 par value as of December 31, 2024.

The holders of the Class A common stock are entitled to one vote for each share of such stock held at all meetings of stockholders. There shall be no cumulative voting, and the holders of shares of Class B, Class C and Class AAA common stock shall not be entitled to vote. The holders of record of Class A Common Stock exclusively shall be entitled to elect all directors of the Company.

The Company shall not declare, pay or set aside any dividends on shares of any other class or series of capital stock of the Company unless (in addition to the obtaining of any consents required elsewhere in the Company's Amended and Restated Certificate of Incorporation) the holders of the Preferred Stock then outstanding shall first receive, or simultaneously receive, a dividend on each outstanding share of Preferred Stock as defined in the Company's Amended and Restated Certificate of Incorporation.

**MODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

Additionally, each share of Class B Common Stock, Class C Common Stock or Class AAA Common Stock will automatically convert into shares of Class A Common Stock (i) immediately prior to the closing of a firm commitment underwritten public offering, registered under the Securities Act of 1933, as amended (the "Securities Act") or (ii) upon election from the Company's board of directors..

During the years ended December 31, 2024 and 2023, option holders exercised 10,774,734 and 4,660,502 options for shares of Class B common stock for proceeds of $9,482 and $4,736, respectively.

During the year ended December 31, 2024, the Company issued 88,340,056 shares of Class AAA common stock for gross proceeds of $10,496,376 pursuant to various crowdfunding efforts, predominantly due to a Regulation A+ offering. In connection with the offering, the Company incurred $1,484,912 in offering costs. As of December 31, 2024, $332,783 of this offering was included as a subscription receivable on the consolidated balance sheet, which was received in January 2025.

As of both December 31, 2024 and 2023, there were 646,825,014 shares of Class A Common Stock issued and outstanding. As of December 31, 2024 and 2023 there were 20,737,172 and 9,962,438 shares of Class B Common Stock issued and outstanding, respectively. As of both December 31, 2024 and 2023 there were 10,993,629 shares of Class C Common Stock issued and outstanding. As of December 31, 2024 and 2023 there were and 149,320,399 shares of Class AAA Common Stock issued and outstanding, respectively.

**7.** **STOCK-BASED COMPENSATION** 

***2021 Stock Plan***

The Company has adopted the 2021 Equity Incentive Plan ("2021 Plan"), which provides for the grant of shares of stock options and restricted stock awards to employees, non-employee directors, and non-employee consultants. The number of shares authorized by the 2021 Plan was 243,000,000 shares as of December 31, 2024. The options have a term of ten years. The amounts granted each calendar year to an employee or non-employee is limited depending on the type of award. Stock options comprise all of the awards granted since the 2021 Plan's inception. Stock options granted under the 2021 Plan typically vest between immediate and four-year periods. As of December 31, 2024, there were 37,549,600 shares available for future issuance.

A summary of information related to stock options is as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Options** | **Weighted Average Exercise Price** | **Intrinsic Value** |
| Outstanding as of December 31, 2022 | 226757718 | $0.02 | $2494359 |
| Granted | 230071248 | $0.03 |  |
| Exercised |  | $0.01 |  |
| Forfeited | (244198271) | $0.01 |  |
| Outstanding as of December 31, 2023 | 212630695 | $0.03 | $5530000 |
| Granted | 32713753 | 0.01 |  |
| Exercised | (10609345) | 0.03 |  |
| Forfeited | (25021875) | 0.03 |  |
| Outstanding as of December 31, 2024 | 209713228 | $0.02 | $4910428 |
| Exercisable as of December 31, 2024 | 152122755 | $0.02 | $3042455 |
| Exercisable as of December 31, 2023 | 154239041 | $0.02 | $3084781 |

---

**MODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2024** | **2023** |
| Weighted average grant-date fair value of options granted during period | $1.00 | $0.02 |
| Weighted average duration (years) to expiration of outstanding options at period-end | 8.33 | 9.18 |

---

During the years ended December 31, 2024 and 2023, option holders exercised 10,774,734 and 4,660,502 options for shares of Class B common stock for proceeds of $9,482 and $4,736, respectively.

The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted to employees and directors:

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2024** | **2023** |
| Risk-free interest rate | 3.60%-4.80% | 3.60%-4.67% |
| Expected term (in years) | 5.06 | 5.63 |
| Expected volatility | 80.00% | 80.00% |
| Expected dividend yield | 0% | 0% |

---

The total grant-date fair value of the options granted during the years ended December 31, 2024 and 2023 was $327,138 and $4,579,425 respectively. Stock-based compensation expense for stock options of $755,686 and $847,243, respectively, was recognized under FASB ASC 718 for the years ended December 31, 2024 and 2023, respectively. Total unrecognized compensation cost related to non-vested stock option awards amounted to $3,122,619 as of December 31, 2024 and will be recognized over a weighted average period of 3.20 years as of December 31, 2024.

***Classification***

 ****

Stock-based compensation expense was classified in the consolidated statements of operations as follows:

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2024** | **2023** |
| Sales and marketing | $155137 | $169449 |
| Research and development | 387843 | 423621 |
| General and administrative | 232705 | 254173 |
|  | $775685 | $847243 |

---

**8.** **INCOME TAXES** 

Prior to February 25, 2021 (see Note 1), the Company was a limited liability company. Accordingly, taxable income and losses flowed to the members and the Company had no tax effects.

**MODE MOBILE, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**As of December 31, 2024 and 2023**

Deferred taxes are recognized for temporary differences between the basis of assets and liabilities for financial statements and income tax purposes. The differences relate primarily to net operating loss carryforwards and cash to accrual differences. As of December 31, 2024 and 2023, the Company had net deferred tax assets before valuation allowance of $2,602,378 and $1,996,554, respectively. The following table presents the deferred tax assets and liabilities by source:

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2024** | **2023** |
| Deferred tax assets: |  |  |
| Net operating loss carryforwards | $1776365 | $1785741 |
| Cash to accrual differences | 826013 | 210813 |
| Valuation allowance | (2602378) | (1996554) |
| Net deferred tax assets | $- | $- |

---

The Company recognizes deferred tax assets to the extent that it believes that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. The Company assessed the need for a valuation allowance against its net deferred tax assets and determined a full valuation allowance is required due to cumulative losses through December 31, 2023, and no history of generating taxable income. Therefore, valuation allowances of $2,602,378 and $1,996,554 were recorded as of December 31, 2024 and 2023, respectively. Valuation allowance increased by $605,825 and $893,227 during the years ended December 31, 2024 and 2023, respectively. Deferred tax assets were calculated using the Company's combined effective tax rate, which it estimated to be 28.0%. The effective rate is reduced to 0% for 2024 and 2023 due to the full valuation allowance on its net deferred tax assets.

The Company's ability to utilize net operating loss carryforwards will depend on its ability to generate adequate future taxable income. At December 31, 2024 and 2023, the Company had net operating loss carryforwards available to offset future taxable income in the amounts of $6,347,880 and $6,381,382, respectively. Pursuant to change in control rules associated with the merger, the Company may be at risk of losing the ability to utilize pre-merger net operating loss carryforwards.

The Company has evaluated its income tax positions and has determined that it does not have any uncertain tax positions. The Company will recognize interest and penalties related to any uncertain tax positions through its income tax expense.

The Company may in the future become subject to federal, state and local income taxation though it has not been since its inception, other than minimum state tax. The Company is not presently subject to any income tax audit in any taxing jurisdiction, though its 2021-2024 tax years remain open to examination.

**9.** **COMMITMENTS AND CONTINGENCIES** 

***Contingencies***

The Company may be subject to pending legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Company does not anticipate that the final outcome, if any, arising out of any such matters will have a material adverse effect on its business, financial condition or results of operations.

**10.** **SUBSEQUENT EVENTS** 

On January 24, 2025, the Company completed the purchase of an app from a Turkish entity, Eywin Bilgi Teknolojileri, for total cash consideration of $6,583,781 at closing date. The Company is evaluating the impact on the financial statements and the purchase price allocation.

As of April 22, 2025, the Company has collected $31,592,196 in gross receipts related to crowdfunding campaign exempt from registration under Regulation A, tier 2.

Additionally, in April 2025, the Company received an investment of $3 million from a venture capital firm in the media industry.

Management has evaluated subsequent events through April 22, 2025, the date the financial statements were available to be issued. Based on this evaluation, no additional material events were identified which require adjustment or disclosure in these consolidated financial statements.

**INDEX TO EXHIBITS**

---

| | |
|:---|:---|
| 1.1 | [Placement Agreement with DealMaker Securities (incorporated by reference to Exhibit 1.1 to the Company's Offering Statement on Form 1-A filed with the SEC on March 28, 2024)](https://www.sec.gov/Archives/edgar/data/1748441/000149315224011715/ex1-1.htm) |
| 2.1 | [Amended and Restated Certificate of Incorporation of Mode Mobile, Inc. (incorporated by reference to Exhibit 2.1 to the Company's Offering Statement on Form 1-A/A filed with the SEC on June 11, 2024)](https://www.sec.gov/Archives/edgar/data/1748441/000149315224023395/ex2-1.htm) |
| 2.2 | [Bylaws of Mode Mobile, Inc. (incorporated by reference to Exhibit 2.2 to the Company's Offering Statement on Form 1-A filed with the SEC on March 28, 2024)](https://www.sec.gov/Archives/edgar/data/1748441/000149315224011715/ex2-3.htm) |
| 3.1 | [Form of Selling Shareholder Irrevocable Power of Attorney (incorporated by reference to Exhibit 3.1 to the Company's Offering Statement on Form 1-A/A filed with the SEC on June 11, 2024)](https://www.sec.gov/Archives/edgar/data/1748441/000149315224023395/ex3-1.htm) |
| 3.2 | [Investors' Rights Agreement, as amended*†* (incorporated by reference to Exhibit 3.2 to the Company's Offering Statement on Form 1-A/A filed with the SEC on June 11, 2024)](https://www.sec.gov/Archives/edgar/data/1748441/000149315224023395/ex3-2.htm) |
| 3.3 | [Right of First Refusal and Co-Sale Agreement, as amended*†* (incorporated by reference to Exhibit 3.3 to the Company's Offering Statement on Form 1-A/A filed with the SEC on June 11, 2024)](https://www.sec.gov/Archives/edgar/data/1748441/000149315224023395/ex3-3.htm) |
| 3.4 | [Form of SAFT (incorporated by reference to Exhibit 3.4 to the Company's Offering Statement on Form 1-A filed with the SEC on March 28, 2024)](https://www.sec.gov/Archives/edgar/data/1748441/000149315224011715/ex3-4.htm) |
| 3.5 | [Form of Warrant for Class AAA Common Stock (incorporated by reference to Exhibit 3.5 to the Company's Offering Statement on Form 1-A filed with the SEC on March 28, 2024)](https://www.sec.gov/Archives/edgar/data/1748441/000149315224011715/ex3-5.htm) |
| 4.1 | [Form of Subscription Agreement (incorporated by reference to Exhibit 4.1 to the Company's Offering Statement on Form 1-A filed with the SEC on March 28, 2024)](https://www.sec.gov/Archives/edgar/data/1748441/000149315224011715/ex4-1.htm) |
| 5 | [Voting Agreement, as amended† (incorporated by reference to Exhibit 5 to the Company's Offering Statement on Form 1-A/A filed with the SEC on June 11, 2024)](https://www.sec.gov/Archives/edgar/data/1748441/000149315224011715/ex5.htm) |
| 6.1 | [Employment Agreement with Justin Hines (incorporated by reference to Exhibit 6.1 to the Company's Offering Statement on Form 1-A filed with the SEC on March 28, 2024)](https://www.sec.gov/Archives/edgar/data/1748441/000149315224011715/ex6-1.htm) |
| 6.2 | [Employment Agreement with Kathleen DeKam (incorporated by reference to Exhibit 6.2 to the Company's Offering Statement on Form 1-A filed with the SEC on March 28, 2024)](https://www.sec.gov/Archives/edgar/data/1748441/000149315224011715/ex6-2.htm) |
| 6.3 | [Employment Agreement with Kiran Panesar (incorporated by reference to Exhibit 6.3 to the Company's Offering Statement on Form 1-A filed with the SEC on March 28, 2024)](https://www.sec.gov/Archives/edgar/data/1748441/000149315224011715/ex6-3.htm) |
| 11\* | [Consent of Independent Auditor](ex11.htm) |
| 12\* | [Opinion of counsel as to the legality of the securities](ex12.htm) |
| 13 | [Testing the Waters Materials (incorporated by reference to Exhibit 13 to the Company's Offering Statement on Form 1-A/A filed with the SEC on June 11, 2024).](https://www.sec.gov/Archives/edgar/data/1748441/000149315224023395/ex13.htm) |

---

*\* Filed herewith*

*† Portions of the exhibit have been omitted.*

**SIGNATURES**

Pursuant to the requirements of Regulation A, the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form 1-A POS and has duly caused this Offering Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Chicago, Illinois on July 7, 2025.

---

| | |
|:---|:---|
| **Mode Mobile, Inc.** | **Mode Mobile, Inc.** |
| *By* | */s/ Dan Novaes* |
| Dan Novaes, Chief Executive Officer | Dan Novaes, Chief Executive Officer |
| Mode Mobile, Inc. | Mode Mobile, Inc. |
| Date: July 7, 2025 | Date: July 7, 2025 |

---

The following persons in the capacities and on the dates indicated have signed this Offering Statement.

---

| | |
|:---|:---|
| *By* | */s/ Dan Novaes* |
| Dan Novaes, Director, Principal Executive Officer, | Dan Novaes, Director, Principal Executive Officer, |
| Mode Mobile, Inc. | Mode Mobile, Inc. |
| Date: July 7, 2025 | Date: July 7, 2025 |
| *By* | */s/ Prakash Ramachandran* |
| Prakash Ramachandran, Principal Financial Officer, Principal Accounting Officer <br> Mode Mobile, Inc.  | Prakash Ramachandran, Principal Financial Officer, Principal Accounting Officer <br> Mode Mobile, Inc.  |
| Date: July 7, 2025 | Date: July 7, 2025 |
| By | */s/ Mark Lawrence* |
| Mark Lawrence, Director <br> Mode Mobile, Inc.  | Mark Lawrence, Director <br> Mode Mobile, Inc.  |
| Date: July 7, 2025 | Date: July 7, 2025 |

---

## Add

**Exhibit 11**

**CONSENT OF INDEPENDENT PUBLIC**

**ACCOUNTING FIRM**

June 27, 2025

Board of Directors

Mode Mobile, Inc.

We hereby consent to the inclusion in the Offering Circular (or other associated documents) filed under Regulation A tier 2 on Forms 1-A, 1-A POS or 1-K of our reports dated April 22, 2025, with respect to the balance sheets of Mode Mobile, Inc. as of December 31, 2024 and 2023 and the related statements of operations, shareholders' equity/deficit and cash flows for the calendar years ended December 31, 2024 and 2023 and the related notes to the financial statements.

![](ex11_001.jpg)

/s/ IndigoSpire CPA, PC

IndigoSpire CPA, PC

San José, CA

## Add

**Exhibit 12**

CrowdCheck Law LLP

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

Washington, DC 20005

July 2, 2025

Board of Directors

Mode Mobile, Inc.

One East Erie Street, Suite 525

Chicago, IL 60611

To the Board of Directors:

We are acting as counsel to Mode Mobile, Inc. (the "*Company*") with respect to the preparation and filing of an offering statement on Form 1-A. The offering statement covers (i) the sale by the Company of up to 152,641,079 shares of the Company's Class AAA Common Stock, par value $0.0001 per share (the "*Company Shares*"); (ii) the issuance by the Company of up to 105,186,441 shares of Class AAA Common Stock to be issued to eligible investors for no additional consideration (the "*Bonus Shares*"); and (iii) the sale by certain selling stockholders of the Company (the "*Selling Stockholders*") of up to 28,863,891 shares of Class AAA Common Stock held by such Selling Stockholders (the "*Selling Stockholder Shares*").

In connection with the opinion contained herein, we have examined the offering statement, the Company's Amended and Restated Certificate of Incorporation, the Company's bylaws, the resolutions of the Company's board of directors and stockholders, as well as all other documents necessary to render an opinion. In our examination, we have assumed the legal capacity of all natural persons, the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as certified or photostatic copies and the authenticity of the originals of such copies.

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

Based upon the foregoing, we are of the opinion that (i) the Company Shares and Bonus Shares are duly authorized and will be, when issued in the manner described in the offering statement, legally and validly issued, fully paid and non-assessable; and (ii) the Selling Stockholder Shares to be sold by the Selling Stockholders are validly issued, fully paid and nonassessable.

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

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

Yours truly,

---

| |
|:---|
| */s/ CrowdCheck Law LLP* |
| AS/GHA |

---

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

## FORM 1-A

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

### Item 1. Issuer Information

**Exact name of issuer:** Mode Mobile, Inc.

**Jurisdiction of Incorporation/Organization:** DE

**Year of Incorporation:** 2015

**CIK:** 0001748441

**I.R.S. Employer Identification Number:** 47-3902362

**Primary Standard Industrial Classification Code:** 7371

**Total number of full-time employees:** 17

**Total number of part-time employees:** 39

**Address of Principal Executive Offices:** ONE EAST ERIE STREET, SUITE 525, CHICAGO, IL 60611

**Company Phone:** 847-999-8739

**Person to contact:** Andrew Stephenson

### Financial Statements

**Balance Sheet Information**

| Metric                                   | Amount       |
|:---|:---|
| Cash and Cash Equivalents                | $6886520.00  |
| Investment Securities                    | $0.00        |
| Accounts and Notes Receivable            | $2528982.00  |
| Property, Plant and Equipment (PP&E)     | $13277.00    |
| Total Assets                             | $15121751.00 |
| Accounts Payable and Accrued Liabilities | $4517329.00  |
| Long-Term Debt                           | $0.00        |
| Total Liabilities                        | $4517329.00  |
| Total Stockholders' Equity               | $10604422.00 |
| Total Liabilities and Equity             | $15121751.00 |

**Statement of Comprehensive Income Information**

| Metric                                    | Amount       |
|:---|:---|
| Total Revenues                            | $12165275.00 |
| Costs and Expenses Applicable to Revenues | $1110492.00  |
| Depreciation and Amortization             | $0.00        |
| Net Income                                | $-3257982.00 |
| Earnings Per Share - Basic                | -0.00        |
| Earnings Per Share - Diluted              | -0.00        |

**Auditor Information**

| Metric          | Amount                      |
|:---|:---|
| Name of Auditor | Indigo Spire CPA Group, LLC |

### Outstanding Securities

| Class                       |   Outstanding | CUSIP     | Publicly Traded   |
|:---|---:|:---|:---|
| Class A Common Stock        |     646825014 | 000000N/A | N/A               |
| Series Seed Preferred Stock |     353712906 | 000000N/A | N/A               |
| N/A                         |             0 | 000000N/A | N/A               |

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

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

### Item 4. Summary Information Regarding the Offering

**Tier:** Tier2

**Financial Statement Status:** Audited

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

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

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

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

**Is this a best efforts offering?** Yes

**Was there any solicitation of interest?** Yes

**Are there any resale securities by affiliates of the issuer?** Yes

**Offering Amounts**

| Description                                                     | Amount       |
|:---|:---|
| Number of securities offered                                    | 286691411    |
| Number of securities outstanding                                | 91172203     |
| Price per security                                              | $0.26        |
| Issuer's aggregate offering price                               | $67449052.39 |
| Aggregate offering price of securities held by security holders | $7550947.61  |
| Aggregate price of securities offered concurrently              | $0.00        |
| Total aggregate offering price                                  | $75000000.00 |

**Anticipated Fees**

| Service Provider   | Name                        | Fees      |
|:---|:---|:---|
| Auditor            | Indigo Spire CPA Group, LLC | $25500.00 |
| Legal              | CrowdCheck Law, LLP         | $50000.00 |
| Promoters          |  |  |

**Estimated Net Proceeds to the Issuer:** $38906094.14

### Item 5. Jurisdictions in Which Securities are to be Offered

AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, DC, PR

### Item 6. Unregistered Securities Issued or Sold Within One Year

**Name of Such Issuer:** Mode Mobile, Inc.

**Title of Securities Issued:** Class AAA Common Stock

**Total Amount of Securities Issued:** 172899555

**Amount of such securities sold by principal security holders:** 21201148

**Aggregate consideration:** 26,092,225 shares sold at $0.25 per share for gross proceeds of $6,523,056.25, 139,131,378 shares sold at $0.26 per share for gross proceeds of $36,174,158.28, 10,829,535 shares sold at $0.30 per share for gross proceeds of $3,225,168

**Basis for aggregate consideration:** NA

**Securities Act Exemption:** Securities issued under Regulation A, Regulation D (Rule 506(c)), and Regulation S.