# EDGAR Filing Document

**Accession Number:** 0001966212
**File Stem:** 0001746059-23-000050
**Filing Date:** 2023-2
**Character Count:** 82573
**Document Hash:** e5677fd1833a742d4aa234b813ad204c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001746059-23-000050.hdr.sgml**: 20230217

**ACCESSION NUMBER**: 0001746059-23-000050

**CONFORMED SUBMISSION TYPE**: C

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20230217

**DATE AS OF CHANGE**: 20230217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SoulFully Vegan, LLC
- **CENTRAL INDEX KEY:** 0001966212
- **IRS NUMBER:** 852793081
- **STATE OF INCORPORATION:** CT

**FILING VALUES:**
- **FORM TYPE:** C
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-31827
- **FILM NUMBER:** 23641735

**BUSINESS ADDRESS:**
- **STREET 1:** 182 HAWKS NEST CIR
- **CITY:** MIDDLETOWN
- **STATE:** CT
- **ZIP:** 06457
- **BUSINESS PHONE:** (860) 502-0036

**MAIL ADDRESS:**
- **STREET 1:** 182 HAWKS NEST CIR
- **CITY:** MIDDLETOWN
- **STATE:** CT
- **ZIP:** 06457

### Attached PDF Documents

**Attachment 1:** `soulfully_offmo.pdf`

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

## OFFERING MEMORANDUM

facilitated by

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

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# SoulFully Vegan, LLC

## FORM C

### OFFERING MEMORANDUM

#### Purpose of This Form

A company that wants to raise money using Regulation Crowdfunding must give certain information to prospective investors, so investors will have a basis for making an informed decision. The Securities and Exchange Commission, or SEC, has issued regulations at 17 CFR §227.201 listing the information companies must provide. This form - Form C - is the form used to provide that information.

Each heading below corresponds to a section of the SEC's regulations under 17 CFR §227.201.

#### (A) The Company

| Name of Company | SoulFully Vegan, LLC |
| --- | --- |
| State of Organization | CT |
| Date of Formation | 03/17/2021 |
| Entity Type | Limited Liability Company |
| Street Address | 182 Hawks Nest Cir, Middletown CT, 06457 |
| Website Address | soulfullyvegan.com |

#### (B) Directors and Officers of the Company

| Key Person | Calvin Vaughan |
| --- | --- |
| Position with the Company | Title Owner First Year 2020 |
| Other business experience (last three years) | Top Shelf Auto, 2005 - Present - Automotive, Home and Commerical property film installation |

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| Key Person | Allison Vaughan |
| --- | --- |
| Position with the Company | Title Owner/Creative Director First Year 2020 |
| Other business experience (last three years) | Previous Employer: Trinity Health of New England - Regional Coordinator, Medical Education: 2016 - 2020. During this role, I negotiated Educational Affiliation Agreements for the largest Catholic Healthcare institution in the nation. |

# (C) Each Person Who Owns 20% or More of the Voting Power

| Name of Holder | % of Voting Power (Prior to Offering) |
| --- | --- |
| Calvin Vaughan | 49% |
| Allison Vaughan | 51% |

# (D) The Company's Business and Business Plan

# About Us

We're SoulFully Vegan, a Vegan truck and brand committed to cooking and delivering healthy vegan favorites. Our promise is to offer a reminder of good times and comfort, without sacrificing taste for health.

- SoulFully Vegan, founded by Allison and husband Calvin, is a healthful and delicious vegan food trailer that offers 100% vegan comfort food that is just as filling as it is delicious. Although our menu may appear superficial (burgers, fries, milkshakes), we provide our customers cuisine that is rooted in American culture, but offers a Caribbean flare, using many traditional herbs and spices.
- More than anything, our burgers have a "meaty" taste non-meat eaters oftentimes miss. Because of this, our customer market is wide, and includes people young and old, from the city, suburb and country. SoulFully Vegan has served all kinds of people and that's what we love most about us, everyone is welcome.
- Our 100% vegan food truck has competed favorably against new and existing plant-based competitors in Connecticut, a state with a thriving plant-based food industry. We are amongst the top and most sought-after plant-based food truck services in the state. One that offers and takes much pride in the food we sell; authentic food that we would serve to our friends and family and being very matter of fact.
- We also have a very strong social media presence which has given us quite a competitive advantage. Additionally, SoulFully Vegan's customer experience is extremely important as

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an effective way of distinguishing our truck from others and gives us yet another competitive edge. We love what we do.

#### The Team

Allison Vaughan, Co-Founder & CEO

Calvin Vaughan , Co-Founder & CEO

#### Our Mission

Making healthier food choices shouldn't mean denying ourselves the enjoyment of delicious food.

- Our aim is simple. SoulFully Vegan will provide a one in a kind menu selection, ambiance, and service that creates a sense of a sophistication, quality, yet casual food truck experience.

#### Have You Seen Us?

We believe no one should have to choose between healthy and delicious. SoulFully Vegan combines great taste with healthy plant-based food served with soulful flare.

- • The Big E
- • City of Middletown CT Juneteenth Festival
- • Greater Hartford Food Truck Festival
- • Harbor Park Car Show
- • Camp Oakdale Food Truck Festival
- • Hempfest 2021
- • Waterbury Hospital Food Truck Fridays
- • Connecticut Day Break
- • Middlesex Hospital Employee Servicing Event
- • UCONN Stores Welcome Back Event
- • Wesleyan University Film Festival
- • Wadsworth Atheneum End of Summer Bash
- • New England, MA Food Truck Festival
- • Southern CT State University Homecoming Weekend
- • Freedom Rally at the CT State Capital

For more information, please refer to the Page View included with this filing.

#### (E) Number of Employees

The Company currently has 1 employees. The Company may hire or discharge employees in the future to meet its objectives.

#### (F) Risks of Investing

A crowdfunding investment involves risk. **YOU SHOULD NOT INVEST ANY FUNDS IN THIS OFFERING UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT.** In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. Please review the Educational Materials for risks that are common to many of the companies on the MainVest platform.

THESE SECURITIES ARE OFFERED UNDER AN EXEMPTION FROM REGISTRATION UNDER FEDERAL LAW. THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE 'SEC') HAS NOT

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MADE AN INDEPENDENT DETERMINATION THAT THESE SECURITIES ARE EXEMPT FROM REGISTRATION. THE SEC HAS NOT PASSED UPON THE MERITS OF THE SECURITIES OR THE TERMS OF THE OFFERING, AND HAS NOT PASSED UPON THE ACCURACY OR COMPLETENESS OF THE OFFERING DOCUMENTS OR LITERATURE.

THESE SECURITIES HAVE NOT BEEN RECOMMENDED OR APPROVED BY ANY FEDERAL OR STATE SECURITIES COMMISSION OR REGULATORY AUTHORITY. FURTHERMORE, THESE AUTHORITIES HAVE NOT PASSED UPON THE ACCURACY OR ADEQUACY OF THIS DOCUMENT.

Please refer to Appendix A for additional risks to consider when investing in this offering.

# **(G) Target Offering Amount and Offering Deadline**

| Target Offering Amount | $50,000 |
| --- | --- |
| Offering Deadline | April 17, 2023 |

If the sum of the investment commitments does not equal or exceed the Target Offering Amount as of the Offering Deadline, no securities will be sold in the offering, investment commitments will be canceled, and all committed funds will be returned. The Company may extend the Offering Deadline and shall treat such an extension as a material change to the original offer and provide Investors with notice and opportunity to reconfirm their investment in accordance with Section (K) of this Memorandum.

# **(H) Commitments that Exceed the Target Offering Amount**

| Will the Company accept commitments that exceed the Target Offering Amount? | Yes |
| --- | --- |
| What is the maximum you will accept in this Offering? | $75,000 |
| If Yes, how will the Company deal with the oversubscriptions? | We will accept subscriptions on a first-come, first-served basis. |

# **(I) How the Company Intends to Use the Money Raised in the Offering**

The Company is reasonably sure it will use the money raised in the offering as follows:

| Use | Amount (Minimum) | Amount (Maximum) |
| --- | --- | --- |
| New commercial food trailer | $40,000 | $50,000 |
| Wrap for trailer | $5,000 | $10,000 |
| Marketing | $1,625 | $9,937 |
| Mainvest Compensation | $3,375 | $5,063 |
| TOTAL | $50,000 | $75,000 |

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The amounts listed estimates and are not intended to be exact description of the Company's expenditures. Exact allocation and use of funds may vary based upon legitimate business expenditures and economic factors.

#### (I) The Investment Process

To Invest

- Review this Form C and the Campaign Page
- If you decide to invest, enter an amount and press the Invest button
- Follow the instructions

TO CANCEL YOUR INVESTMENT

Send an email to info@mainvest.com no later than 48 hours before the Offering Deadline or go to the dashboard for your user account to cancel manually. In your email, include your name and the name of the Company.

Other Information on the Investment Process

- Investors may cancel an investment commitment until 48 hours prior to the Offering Deadline.
- MainVest will notify investors when and if the Target Offering Amount has been raised.
- If the Company reaches the Target Offering Amount before the Offering Deadline, it may close the offering early if it provides notice about the new Offering Deadline at least five business days before such new Offering Deadline, absent a material change that would require an extension of the offering and reconfirmation of the investment commitment.
- If an investor does not cancel an investment commitment before the 48-hour period before the Offering Deadline, the funds will be released to the Company upon closing of the offering and the investor will receive securities in exchange for his or her investment.

For additional information about the investment and cancellation process, see the Educational Materials.

#### (K) Material Changes

In the event the issuer undergoes a material change, the Investor will be notified of such change. The investor will have five (5) business days from the receipt of such notice to reconfirm their investment. IF AN INVESTOR DOES NOT RECONFIRM HIS OR HER INVESTMENT COMMITMENT WITHIN FIVE (5) DAYS OF THE NOTICE OF MATERIAL CHANGE BEING SENT, THE INVESTOR'S INVESTMENT COMMITMENT WILL BE CANCELLED, THE COMMITTED FUNDS WILL BE RETURNED, AND THE INVESTOR WILL NOT BE ISSUED ANY OF THE SECURITIES REFERENCED IN THIS OFFERING.

Explanation

A "material change" means a change that an average, careful investor would want to know about before making an investment decision. If a material change occurs after you make an investment commitment but before the Offering closes, then the Company will notify you and ask whether you want to invest anyway. If you do not affirmatively choose to invest, then your commitment will be cancelled, your funds will be returned to you, and you will not receive any securities.

#### (L) Price of the Securities

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The Company is offering “securities” in the form of revenue sharing notes, which we refer to as “Notes.” The Notes are being offered at their face amount. For example, you will pay $1,000 for a Note with a face amount of $1,000.

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## (M) Terms of the Securities

### Overview

The Company is offering “securities” in the form of revenue sharing notes, which we refer to as the “Notes.” The Terms of the Notes are set forth in the Revenue Share Agreement accompanying this Form C in Appendix A. Copies of the Note and Revenue Sharing Agreement are attached to this Form C.

### Summary of Terms

| Revenue Percentage 1 | 3.5 - 5.2% 2 |
| --- | --- |
| Payment Deadline | 2028-12-31 |
| Maximum Payment Multiple 3 - Early Investors - All Other Investors | 1.7 x 1.5 x |
| Sharing Start Date | The first day after disbursement that the company has revenues greater than one ($1) dollar |
| First Payment Date | The last day of the calendar quarter ending not less than 90 days after the Sharing Start Date |
| Seniority | Subordinated |
| Securitization | Unsecured |
| Accrual Rate | 3.76% |

$^{1}$ as defined in the note agreement included in Appendix A

$^{2}$ The rate of revenue sharing is calculated on a linear scale with a minimum rate of 3.5% and a maximum rate of 5.2% and is rounded to the nearest 1/10th percent. The final rate is based on the amount raised and is calculated after the offering has successfully closed. As the amount raised in the offering increases, the rate of revenue sharing increases. For example, a hypothetical offering could result in the following revenue sharing percentages, depending on the amount raised:

| Amount Raised | Revenue Sharing Percentage |
| --- | --- |
| $50,000 | 3.5% |
| $56,250 | 3.9% |
| $62,500 | 4.3% |
| $68,750 | 4.8% |
| $75,000 | 5.2% |

$^{3}$ To reward early participation, the investors who contribute the first $15,000.0 raised in the offering will receive a 1.7x cap. Investors who contribute after $15,000.0 has been raised in the offering will receive a 1.5x cap.

### Your Right to Payments under the Note

Your right to payments under the Note is set forth in the Note, together with a separate document

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called the Revenue Sharing Agreement. Copies of the Note and Revenue Sharing Agreement are attached to this Form C. Additionally, general terms are outlined below and in the Company's offering page.

# Obligation to Contribute Capital

Once you pay for your Note, you will have no obligation to contribute more money to the Company, and you will not be personally obligated for any debts of the Company. However, under some circumstances you could be required by law to return some or all of a distribution you receive from the Company.

# No Right to Transfer

You should plan to hold the Notes until maturity. The Notes will be illiquid (meaning you might not be able to sell them) for at least four reasons:

- The Revenue Sharing Agreement prohibits the sale or other transfer of Notes without the Company's consent.
- If you want to sell your Note the Company will have the first right of refusal to buy it, which could make it harder to find a buyer.
- Even if a sale were permitted, there is no ready market for Notes, as there would be for a publicly-traded stock.
- By law, for a period of one year you won't be allowed to transfer the Investor Shares except (i) to the Company itself, (ii) to an "accredited" investor, (iii) to a family or trust, or (iii) in a public offering of the Company's shares.

# Security

The Notes are not secured by any assets of the Company or any assets of persons associated with the Company.

# Modification of Terms of Notes

The terms of the Notes and the Revenue Sharing Agreement may be modified or amended with the consent of Investors holding 50% of the Notes, measured by the total amount outstanding under each Note.

# Other Classes of Securities

| Name of Security | Limited Liability Company Interests |
| --- | --- |
| Number of Shares Outstanding | N/A |
| Describe Voting Rights of These Securities, Including Any Limitations on Voting Rights | N/A |
| How these securities differ from the revenue sharing notes being offered to investors | Limited Liability Company Interests are an equity interest, whereas Revenue Sharing Notes are a debt obligation of the Company. |

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## Dilution of Rights

The Company has the right to create additional classes of securities, both equity securities and debt securities (e.g., other classes of promissory notes). Some of these additional classes of securities could have rights that are superior to those of the Notes. For example, the Company could issue promissory notes that are secured by specific property of the Company.

## The People Who Control the Company

Each of these people owns 20% or more of the total voting power of the Company:

| Name of Holder | % of Voting Power (Prior to Offering) |
| --- | --- |
| Calvin Vaughan | 49% |
| Allison Vaughan | 51% |

## How the Exercise of Voting Rights Could Affect You

You will receive payments with respect to your Note only if the Company makes enough money to pay you, or, if the Company does not make enough money to pay you, if there is enough value in the collateral the Company pledged as security for the Notes.

The people with voting rights control the Company and make all the decisions about running its business. If they make good business decisions, it is more likely you will be paid. If they make poor business decisions, it is less likely you will be paid. For example, if they hire too many people and/or try to expand too quickly, the business could be harmed. The people with voting rights could also decide to file for bankruptcy protection, making it more difficult for you to be paid.

## How the Notes are Being Valued

The Notes are being valued at their face value. We don't anticipate that we'll ever need to place a value on the Notes in the future.

## (N) The Funding Portal

The Company is offering its securities through MainVest, Inc., which is a 'Funding Portal' licensed by the Securities and Exchange Commission and FINRA. MainVest Inc.'s Central Index Key (CIK) number is 0001746059, their SEC File number is 007-00162, and their Central Registration Depository (CRD) number is 298384.

## (O) Compensation of the Funding Portal

Upon successful funding of the Offering, the Funding Portal will receive as the 'Revenue Securement Fee'; 4.5% of the amount of the Offering raised by In-Network Users of the Platform plus 9.0% of the amount of the Offering raised by all other investors. 'In-Network Users' means a user of Mainvest.com who who have utilized the Company's specified in-network link on the Site.

## (P) Indebtedness of the Company

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The Company has no indebtedness outside of the debt the Company is expecting to raise through regulation crowdfunding on MainVest.

(Q) Other Offerings of Securities within the Last Three Years

The Company has not made any offerings with other third-party regulation crowdfunding companies in the past three years.

(R) Transactions Between the Company and “Insiders”

The Company has not entered into any business transactions, including stock Purchases, salaries, property rentals, consulting arrangements, guaranties, or other agreements with any individual identified in Section 227.201 (r)(1)-(4) of Regulation Crowdfunding during the 12 months preceding this Offering.

(S) The Company’s Financial Condition

Historical milestones

SoulFully Vegan has been operating since May 2021 - present and has since achieved the following milestones:

- Opened location in Middletown, CT
- Achieved revenue of $153k in 2021, which then grew to $256k in 2022.

Historical financial performance is not necessarily predictive of future performance.

Other outstanding debt or equity

As of 1/17/2023, SoulFully Vegan has debt of $0 outstanding and a cash balance of $5,000. SoulFully Vegan may require additional funds from alternate sources at a later date.

(T) The Company’s Financial Statements

Please see Appendix B for historical financial statements.

Pro Forma Income Statement

In order to illustrate its future earning potential, the Company has provided a summary of its - year financial forecast. The forecast has been developed by the Company using reasonable best efforts based on their understanding of the industry and market they wish to enter. Please refer to Section (F) of this Offering Memorandum for a list of the risks associated with an investment in the Company and utilizing any pro forma provided by the Company for making investment decisions.

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|  | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
| --- | --- | --- | --- | --- | --- |
| Gross Sales | $325,000 | $357,500 | $393,250 | $432,575 | $454,204 |
| Cost of Goods Sold | $110,000 | $121,000 | $133,100 | $146,410 | $153,730 |
| Gross Profit | $215,000 | $236,500 | $260,150 | $286,165 | $300,474 |
| EXPENSES |  |  |  |  |  |
| Rent | $200 | $200 | $200 | $200 | $200 |
| Marketing & Advertising | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 |
| Cost of Labor | $30,000 | $30,000 | $30,000 | $30,000 | $30,000 |
| Memberships & Subscriptions | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Insurance | $6,000 | $6,150 | $6,303 | $6,460 | $6,621 |
| Office Expenses | $2,000 | $2,050 | $2,101 | $2,153 | $2,206 |
| Payroll Expenses | $4,000 | $4,400 | $4,840 | $5,324 | $5,590 |
| T&E | $4,000 | $4,100 | $4,202 | $4,307 | $4,414 |
| Supplies & Materials | $40,000 | $41,000 | $42,025 | $43,075 | $44,151 |
| Vehicle Expenses | $10,000 | $10,250 | $10,506 | $10,768 | $11,037 |
| Operating Profit | $112,800 | $132,350 | $153,973 | $177,878 | $190,255 |

#### (U) Disqualification Events

Neither The Company nor any individual identified by Section 227.503(a) of Regulation Crowdfunding is the subject of a disqualifying event as defined by Section 227.503 of Regulation Crowdfunding.

##### Explanation

A company is not allowed to raise money using Regulation Crowdfunding if certain designated people associated with the Company (including its directors or executive officers) committed certain prohibited acts (mainly concerned with violations of the securities laws) on or after May 16, 2016. (You can read more about these rules in the Educational Materials.) This item requires a company to disclose whether any of those designated people committed any of those prohibited acts before May 16, 2016.

#### (V) Updates on the Progress of the Offering

To track the investment commitments we've received in this Offering, click to see the Progress Bar.

#### (W) Annual Reports for the Company

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The Company will file a report with the Securities and Exchange Commission annually and post the report on our website no later than 120 days after the end of each fiscal year. It's possible that at some point, the Company will not be required to file any more annual reports. We will notify you if that happens.

# **(X) Our Compliance with Reporting Obligations**

The Company has never raised money using Regulation Crowdfunding before, and therefore has never been required to file any reports.

# **(Y) Other Information Prospective Investors Should Know About**

The Issuer may offer 'Perks' as a means of showing appreciation to investors for supporting small community businesses. The offering of 'Perks' by issuers is done purely on a voluntary basis and have no influence upon the terms of the Offering. As such, Investor 'Perks' are not contractual conditions governed by 'the Note' and are not enforceable under 'the Note'.

# **Additional Information Included in the Form C**

|  | Most recent fiscal year-end (tax returns) | Prior fiscal year-end (tax returns) |
| --- | --- | --- |
| Total Assets | $19,479.57 | $0 |
| Cash & Cash Equivalents | $4,887.95 | $0 |
| Accounts Receivable | $0 | $0 |
| Short-term Debt | $344.00 | $0 |
| Long-term Debt | $0 | $0 |
| Revenues/Sales | $122,946.22 | $0 |
| Cost of Goods Sold | $20,216.84 | $0 |
| Taxes Paid | $0 | $0 |
| Net Income | $6,146.28 | $0 |

Jurisdictions in which the Company intends to offer the securities:

AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, B5, GU, PR, VI, 1V

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**Attachment 2:** `soulfully_appxa.pdf`

# APPENDIX A: INVESTMENT RISKS

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## YOU MIGHT LOSE YOUR MONEY

When you buy a certificate of deposit from a bank, the Federal government (through the FDIC) guarantees you will get your money back. Buying a Note is not like that at all. The ability of SoulFully Vegan to make the payments you expect, and ultimately to give you your money back, depends on a number of factors, including many beyond our control.

## LIMITED SERVICES

SoulFully Vegan operates with a very limited scope, offering only particular services to potential clients, making them vulnerable to changes in customer preferences.

## LACK OF ACCOUNTING CONTROLS

Larger companies typically have in place strict accounting controls. Smaller companies typically lack these controls, exposing themselves to additional risk.

## COMPETITION

The market in which we operate is highly competitive and could become increasingly competitive with new entrants in the market. SoulFully Vegan competes with many other businesses, both large and small, on the basis of quality, price, location, and customer experience. Changes in customer preference away from SoulFully Vegan's core business or the inability to compete successfully against the with other competitors could negatively affect SoulFully Vegan's financial performance.

## RELIANCE ON MANAGEMENT

As a securities holder, you will not be able to participate in SoulFully Vegan's management or vote on and/or influence any managerial decisions regarding SoulFully Vegan. Furthermore, if the founders or other key personnel of SoulFully Vegan were to leave SoulFully Vegan or become unable to work, SoulFully Vegan (and your investment) could suffer substantially.

## FINANCIAL FORECASTS RISKS

The financial forecasts provided by us herein are reasonable forecasts by us based upon assumption of stable economic conditions and other various assumptions regarding operations. The validity and accuracy of these assumptions will depend in large part on future events over which SoulFully Vegan and the key persons will have no control. Changes in assumptions or their underlying facts could significantly affect the forecasts. To the extent that the assumed events do not occur, the outcome may vary significantly from the projected outcomes. Consequently, there can be no assurance that the actual operating results will correspond to the forecasts provided herein. Additionally, SoulFully Vegan is a newly established entity and therefore has no operating history from which forecasts could be projected with.

## INABILITY TO SELL YOUR INVESTMENT

The law prohibits you from selling your securities (except in certain very limited circumstances) for 12 months after you acquire them. Even after that one-year period, a host of Federal and State securities laws may limit or restrict your ability to sell your securities. Even if you are permitted to sell, you will likely have difficulty finding a buyer because there will be no established market. Given these factors, you should be prepared to hold your investment for its full term.

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## THE COMPANY MIGHT NEED MORE CAPITAL

SoulFully Vegan might need to raise more capital in the future to fund/expand operations, buy property and equipment, hire new team members, market its services, pay overhead and general administrative expenses, or a variety of other reasons. There is no assurance that additional capital will be available when needed, or that it will be available on terms that are not adverse to your interests as an investor. If SoulFully Vegan is unable to obtain additional funding when needed, it could be forced to delay its business plan or even cease operations altogether.

## CHANGES IN ECONOMIC CONDITIONS COULD HURT SOULFULLY VEGAN

Factors like global or national economic recessions, changes in interest rates, changes in credit markets, changes in capital market conditions, declining employment, changes in real estate values, changes in tax policy, changes in political conditions, and wars and other crises, among other factors are unpredictable and could negatively affect SoulFully Vegan's financial performance or ability to continue to operate. In the event SoulFully Vegan ceases operations due to the foregoing factors, it can not guarantee that it will be able to resume operations or generate revenue in the future.

## NO REGISTRATION UNDER SECURITIES LAWS

The Notes will not be registered with the SEC or the securities regulator of any State. Hence, neither SoulFully Vegan nor the Notes will be subject to the same degree of regulation and scrutiny as if they were registered.

## INCOMPLETE OFFERING INFORMATION

Title III does not require us to provide you with all the information that would be required in some other kinds of securities offerings, such as a public offering of shares (for example, publicly-traded firms must generally provide investors with quarterly and annual financial statements that have been audited by an independent accounting firm). Although Title III does require extensive information, it is possible that you would make a different decision if you had more information.

## LACK OF ONGOING INFORMATION

SoulFully Vegan will be required to provide some information to investors for at least 12 months following the offering. However, this information is far more limited than the information that would be required of a publicly-reporting company; and SoulFully Vegan is allowed to stop providing annual information in certain circumstances.

## UNINSURED LOSSES

Although SoulFully Vegan will carry some insurance, SoulFully Vegan may not carry enough insurance to protect against all risks to the business. Additionally, there are some kinds of risks that are very difficult or impossible to insure against, at least at a reasonable cost. Therefore, SoulFully Vegan could incur an uninsured loss that could damage its business.

## CHANGES IN LAWS

Changes in laws or regulations, including but not limited to zoning laws, environmental laws, tax laws, consumer protection laws, securities laws, antitrust laws, and health care laws, could negatively affect SoulFully Vegan's financial performance or ability to continue to operate. Specifically, any additional regulation on the industry could significantly negatively affect the

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business.

#### CONFLICT OF INTEREST WITH COMPANIES AND THEIR MANAGEMENT

In many ways, your interests and the interests of SoulFully Vegan's management will coincide: you both want SoulFully Vegan to be as successful as possible. However, your interests might be in conflict in other important areas, including these: You might want SoulFully Vegan to act conservative to make sure they are best equipped to repay the Note obligations, while SoulFully Vegan might prefer to spend aggressively to invest in the business. You would like to keep the compensation of managers low, while managers want to make as much as they can.

#### FUTURE INVESTORS MIGHT HAVE SUPERIOR RIGHTS

If SoulFully Vegan needs more capital in the future and takes on additional debt or other sources of financing, the new investors might have rights superior to yours. For example, they might have the right to be paid before you are, to receive larger distributions, to have a greater voice in management, or otherwise.

#### THE COMPANY IS NOT SUBJECT TO THE CORPORATE GOVERNANCE REQUIREMENTS OF THE NATIONAL SECURITIES EXCHANGES

Any company whose securities are listed on a national stock exchange (for example, the New York Stock Exchange) is subject to a number of rules about corporate governance that are intended to protect investors. For example, the major U.S. stock exchanges require listed companies to have an audit committee made up entirely of independent members of the board of directors (i.e., directors with no material outside relationships with SoulFully Vegan or management), which is responsible for monitoring SoulFully Vegan's compliance with the law. SoulFully Vegan will not be required to implement these and other investor protections.

#### YOU HAVE A LIMITED UPSIDE

Notes include a maximum amount you can receive. You cannot receive more than that even if SoulFully Vegan is significantly more successful than your initial expectations.

#### YOU DO HAVE A DOWNSIDE

Conversely, if SoulFully Vegan fails to generate enough revenue, you could lose some or all of your money.

#### PAYMENTS AND RETURN ARE UNPREDICTABLE

Because your payments are based on the revenue of SoulFully Vegan, and the revenue of SoulFully Vegan can go up or down (or even disappear altogether) unpredictably, it is impossible to predict how much you will receive and when. And because the payments are unpredictable, so is your ultimate return.

#### THE NOTES ARE UNSECURED AND UNINSURED

The Notes are not secured by any collateral, nor are they guaranteed or insured by the FDIC or any other entity.

#### SUBORDINATION

The Notes shall be subordinated to all indebtedness of SoulFully Vegan to banks, commercial

4

finance lenders, leasing and equipment financing institutions, and/or other institutions regularly engaged in the business of lending money.

#### LACK OF GUARANTY

The Notes are not personally guaranteed by any of the founders or any other person.

#### LIMITATION OF INDIVIDUAL RIGHTS IN EVENT OF DEFAULT

In the event of a default under the Notes, you will not be able to enforce your rights individually (for example, by bringing a lawsuit). Instead, a representative will be appointed according to the procedures set forth in the Note Indenture. It's possible that you will not like the representative, or that the representative will do things you believe are wrong or misguided. If an event of default has occurred and a representative has been appointed, all of the representative's reasonable expenses must be paid before any further payments are made with respect to the Notes.

#### COVID-19 IMPACT

The ongoing COVID-19 pandemic may impact the Company's ability to generate revenue and/or continue operations. If operations are ceased due to COVID-19 restrictions, the Company can not guarantee that it will resume operations in the future.

5

**Attachment 3:** `soulfully_appxb.pdf`

# APPENDIX B:
FINANCIAL STATEMENTS
(Unaudited)

1

# SoulFully Vegan Profit and Loss

January - December 2021

|  | Total |
| --- | --- |
| Income |  |
| Sales | 122,941.66 |
| Services | 5.00 |
| Total Income | $122,946.66 |
| Cost of Goods Sold |  |
| Cost of goods sold | 20,159.20 |
| Supplies & materials | 57.64 |
| Total Cost of goods sold | $20,216.84 |
| Total Cost of Goods Sold | $20,216.84 |
| Gross Profit | $102,729.82 |
| Expenses |  |
| Advertising & marketing | 1,534.47 |
| Social media | 26.48 |
| Website ads | 184.88 |
| Total Advertising & marketing | $1,745.83 |
| Commissions & fees | 836.00 |
| Contract labor | 30,095.00 |
| General business expenses | 1,000.00 |
| Bank fees & service charges | 9.55 |
| Continuing education | 106.00 |
| Event Fee | 3,281.63 |
| Total General business expenses | $4,397.18 |
| Insurance | 20.00 |
| Meals | 791.12 |
| Meals with clients | 133.82 |
| Travel meals | 36.79 |
| Total Meals | $961.73 |
| Office expenses | 883.99 |
| Merchant account fees | 461.93 |
| Office supplies | 211.53 |
| Shipping & postage | 57.26 |
| Software & apps | 450.89 |
| Total Office expenses | $2,065.60 |
| Repairs & maintenance | 2,167.50 |
| Supplies | 12,036.34 |
| Supplies & materials | 32,963.08 |
| Total Supplies | $44,999.42 |
| Travel | 1,055.65 |
| Uncategorized Expense | 53.18 |

| Total Expenses | $88,397.09 |
| --- | --- |
| Net Operating Income | $14,332.73 |
| Other Expenses |  |
| Home office | 35.79 |
| Repairs & maintenance | 326.44 |
| Total Home office | $362.23 |
| Other Miscellaneous Expense | 383.70 |
| Vehicle expenses | 0.00 |
| Parking & tolls | 75.78 |
| Vehicle gas & fuel | 4,378.44 |
| Vehicle repairs | 986.30 |
| Total Vehicle expenses | $5,440.52 |
| Total Other Expenses | $6,186.45 |
| Net Other Income | -$6,186.45 |
| Net Income | $8,146.28 |

Wednesday, Feb 15, 2023 01:43:51 PM GMT-8 - Accrual Basis

# SoulFully Vegan

## Balance Sheet

As of December 31, 2021

|  | TOTAL |
| --- | --- |
| ASSETS |  |
| Current Assets |  |
| Bank Accounts |  |
| PayBack Business Checking | 4,877.95 |
| Total Bank Accounts | $4,877.95 |
| Accounts Receivable |  |
| Accounts Receivable (A/R) | 5.00 |
| Total Accounts Receivable | $5.00 |
| Other Current Assets |  |
| Uncategorized Asset | 480.00 |
| Total Other Current Assets | $480.00 |
| Total Current Assets | $5,362.95 |
| Fixed Assets |  |
| Long-term office equipment | 0.00 |
| Photo & video equipment | 25.15 |
| Total Long-term office equipment | 25.15 |
| Tools, machinery, and equipment | 3,091.47 |
| Vehicles | 11,000.00 |
| Total Fixed Assets | $14,116.62 |
| TOTAL ASSETS | $19,479.57 |
| LIABILITIES AND EQUITY |  |
| Liabilities |  |
| Current Liabilities |  |
| Other Current Liabilities |  |
| Short-term business loans | -344.00 |
| Total Other Current Liabilities | $ -344.00 |
| Total Current Liabilities | $ -344.00 |
| Total Liabilities | $ -344.00 |
| Equity |  |
| Opening balance equity | -97.88 |
| Owner draws | -8,384.03 |
| Retained Earnings | 0.00 |
| Net Income | 28,305.48 |
| Total Equity | $19,823.57 |
| TOTAL LIABILITIES AND EQUITY | $19,479.57 |

Accrual Basis Wednesday, February 15, 2023 04:18 PM GMT-05:00

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# SoulFully Vegan

## Statement of Cash Flows

January - December 2021

|  | TOTAL |
| --- | --- |
| OPERATING ACTIVITIES |  |
| Net Income | 28,305.48 |
| Adjustments to reconcile Net Income to Net Cash provided by operations: | 0.00 |
| Accounts Receivable (A/R) | -5.00 |
| Uncategorized Asset | -480.00 |
| Short-term business loans | -344.00 |
| Total Adjustments to reconcile Net Income to Net Cash provided by operations: | -829.00 |
| Net cash provided by operating activities | $27,476.48 |
| INVESTING ACTIVITIES |  |
| Long-term office equipment:Photo & video equipment | -25.15 |
| Tools, machinery, and equipment | -3,091.47 |
| Vehicles | -11,000.00 |
| Net cash provided by investing activities | $ -14,116.62 |
| FINANCING ACTIVITIES |  |
| Opening balance equity | -97.88 |
| Owner draws | -8,384.03 |
| Net cash provided by financing activities | $ -8,481.91 |
| NET CASH INCREASE FOR PERIOD | $4,877.95 |
| CASH AT END OF PERIOD | $4,877.95 |

Wednesday, February 15, 2023 04:49 PM GMT-05:00

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# SoulFully Vegan Profit and Loss

January - December 2022

|  | Total |
| --- | --- |
| Income |  |
| Sales | 225,359.94 |
| Services | 0.00 |
| Total Income | $225,359.94 |
| Cost of Goods Sold |  |
| Cost of goods sold | 53,531.41 |
| Supplies & materials | 38,172.24 |
| Total Cost of goods sold | $91,703.65 |
| Total Cost of Goods Sold | $91,703.65 |
| Gross Profit | $133,656.29 |
| Expenses |  |
| Advertising & marketing | 2,533.90 |
| Social media | 1,146.16 |
| Website ads | 6.38 |
| Total Advertising & marketing | $3,686.44 |
| Building & property rent | 185.45 |
| Contract labor | 18,649.93 |
| Entertainment with clients | 170.00 |
| General business expenses | 132.55 |
| Bank fees & service charges | 1,117.00 |
| Continuing education | 79.97 |
| Event Fee | 22,702.80 |
| Memberships & subscriptions | 693.80 |
| Total General business expenses | $24,726.12 |
| Insurance | 3,387.24 |
| Legal & accounting services | 425.00 |
| Meals | 53.23 |
| Meals with clients | 298.32 |
| Total Meals | $351.55 |
| Office expenses | 553.10 |
| Merchant account fees | 767.70 |
| Office supplies | 41.33 |
| Shipping & postage | 259.05 |
| Software & apps | 384.10 |
| Total Office expenses | $2,005.28 |
| Payroll expenses | 7,444.65 |
| Wages | 238.34 |
| Total Payroll expenses | $7,682.99 |
| Repairs & maintenance | 2,692.24 |

| Supplies | 18,764.37 |
| --- | --- |
| Supplies & materials | 19,407.87 |
| Total Supplies | $38,172.24 |
| Taxes paid | 0.00 |
| Payroll taxes | 2,562.19 |
| Property taxes | -38.70 |
| Total Taxes paid | $2,523.49 |
| Travel | 0.00 |
| Hotels | 1,836.26 |
| Total Travel | $1,836.26 |
| Utilities | 92.86 |
| Phone service | 48.95 |
| Total Utilities | $141.81 |
| Total Expenses | $106,636.04 |
| Net Operating Income | $27,020.25 |
| Other Expenses |  |
| Vehicle expenses | 3,615.90 |
| Vehicle gas & fuel | 2,876.91 |
| Vehicle repairs | 129.16 |
| Total Vehicle expenses | $6,621.97 |
| Total Other Expenses | $6,621.97 |
| Net Other Income | -$6,621.97 |
| Net Income | $20,398.28 |

Tuesday, Feb 14, 2023 09:25:56 AM GMT-8 - Accrual Basis

# SoulFully Vegan

## Balance Sheet

As of December 31, 2022

|  | TOTAL |
| --- | --- |
| ASSETS |  |
| Current Assets |  |
| Bank Accounts |  |
| PayBack Business Checking | 8,713.04 |
| PayBack Business Checking | 15,898.60 |
| PayBack Business | 2,065.69 |
| Total Bank Accounts | $26,677.33 |
| Accounts Receivable |  |
| Accounts Receivable (A/R) | 5.00 |
| Total Accounts Receivable | $5.00 |
| Other Current Assets |  |
| Uncategorized Asset | 480.00 |
| Total Other Current Assets | $480.00 |
| Total Current Assets | $27,162.33 |
| Fixed Assets |  |
| Long-term office equipment | 0.00 |
| Photo & video equipment | 25.15 |
| Total Long-term office equipment | 25.15 |
| Tools, machinery, and equipment | 3,112.73 |
| Vehicles | 11,000.00 |
| Total Fixed Assets | $14,137.88 |
| TOTAL ASSETS | $41,300.21 |
| LIABILITIES AND EQUITY |  |
| Liabilities |  |
| Current Liabilities |  |
| Other Current Liabilities |  |
| Connecticut Department of Revenue Services Payable | 0.00 |
| Lines of credit | -315.00 |
| Short-term business loans | -10,012.95 |
| Total Other Current Liabilities | $ -10,327.95 |
| Total Current Liabilities | $ -10,327.95 |
| Total Liabilities | $ -10,327.95 |
| Equity |  |
| Opening balance equity | 10,143.64 |
| Owner draws | -11,688.03 |
| Retained Earnings | 28,305.48 |
| Net Income | 24,867.07 |
| Total Equity | $51,628.16 |
| TOTAL LIABILITIES AND EQUITY | $41,300.21 |

Accrual Basis Wednesday, February 15, 2023 04:19 PM GMT-05:00

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# SoulFully Vegan

## Statement of Cash Flows

January - November, 2022

|  | TOTAL |
| --- | --- |
| OPERATING ACTIVITIES |  |
| Net Income | 21,859.37 |
| Adjustments to reconcile Net Income to Net Cash provided by operations: | 0.00 |
| Accounts Receivable (A/R) | 0.00 |
| Connecticut Department of Revenue Services Payable | 0.00 |
| Lines of credit | -280.00 |
| Short-term business loans | -8,877.44 |
| Total Adjustments to reconcile Net Income to Net Cash provided by operations: | -9,157.44 |
| Net cash provided by operating activities | $12,701.93 |
| INVESTING ACTIVITIES |  |
| Tools, machinery, and equipment | -21.26 |
| Net cash provided by investing activities | $ -21.26 |
| FINANCING ACTIVITIES |  |
| Opening balance equity | 10,241.52 |
| Owner draws | -3,304.00 |
| Net cash provided by financing activities | $6,937.52 |
| NET CASH INCREASE FOR PERIOD | $19,618.19 |
| Cash at beginning of period | 4,877.95 |
| CASH AT END OF PERIOD | $24,496.14 |

Wednesday, February 15, 2023 04:50 PM GMT-05:00

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I, Allison Vaughan, certify that:

1. The financial statements of SoulFully Vegan, LLC included in this Form are true and complete in all material respects; and
2. The tax return information of SoulFully Vegan, LLC included in this Form reflects accurately the information reported on the tax return for SoulFully Vegan, LLC for the fiscal year ended 2021 (most recently available as of the Date of this Form C).

Signature Allison Vaughan

Name: Allison Vaughan

Title: Owner

1

**Attachment 4:** `soulfully_rsn.pdf`

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

## INVESTMENT AGREEMENT

facilitated by

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

1

# INVESTMENT AGREEMENT

This is an Investment Agreement, by and between **SoulFully Vegan, LLC** (the “Company”) and the purchaser identified on the Investor Information Sheet (“Purchaser”).

## BACKGROUND

Purchaser wishes to purchase a Revenue Sharing Note issued by the Company through www.Mainvest.com (the “Site”). NOW, THEREFORE, acknowledging the receipt of adequate consideration and intending to be legally bound, the parties hereby agree as follows:

### 1. Defined Terms

Capitalized terms that are not otherwise defined in this Investment Agreement have the meanings given to them in the Company’s Form C and its attachments, all available at the Site. In this Investment Agreement, we refer to the Form C and its attachments as the “Disclosure Document.” We sometimes refer to the Company using terms like “we” or “us,” and to Purchaser using terms like “you” or “your.”

### 2. Purchase of Note

Subject to the terms and conditions of this Investment Agreement, the Company hereby agrees to sell to you, and you hereby agree to purchase from the Company, a promissory note as described in the Disclosure Document, in the amount set forth on the Investor Information Sheet. We refer to your promissory note as the “Note.”

### 3. No Right to Cancel

You do not have the right to cancel your subscription or change your mind. Once you sign this Investment Agreement, you are obligated to purchase the Note, no matter what, even if the Offering is over-subscribed and the amount of your Note is reduced.

### 4. Our Right to Reject Investment

In contrast, we have the right to reject your subscription for any reason or for no reason, in our sole discretion. If we reject your subscription, any money you have given us will be returned to you.

### 5. Your Promises

You promise that:

#### 5.1. Accuracy of Information

All of the information you have given to us, whether in this Investment Agreement, at the Site, or otherwise, is accurate and we may rely on it. If any of the information you have given to us changes before we accept your subscription, you will notify us immediately. If any of the information you have given to us is inaccurate and we are harmed as a result, you will indemnify us, meaning you will pay any damages.

#### 5.2. Review of Information

You have read and understand the Disclosure Document. Without limiting that sentence, you have read and understand the Note and the Revenue Sharing Agreement.

#### 5.3. Risks

2

You understand all the risks of investing, including the risk that you could lose all your money. Without limiting that statement, you have reviewed and understand all the risks listed in the Educational Materials at the Site and in the Disclosure Document.

#### 5.4. No Representations

Nobody has made any promises or representations to you, except the information in the Disclosure Document. Nobody has guaranteed any financial outcome of your investment.

#### 5.5. Opportunity to Ask Questions

You have had the opportunity to ask questions about the Company and the investment. All your questions have been answered to your satisfaction.

#### 5.6. Your Legal Power to Sign and Invest

You have the legal power to sign this Investment Agreement and purchase the Note.

#### 5.7. No Government Approval

You understand that no state or federal authority has reviewed this Investment Agreement or the Note or made any finding relating to the value or fairness of the investment.

#### 5.8. No Transfer

You understand that under the terms of the Revenue Sharing Agreement, the Note may not be transferred without our consent. Also, securities laws limit transfer of the Note. Finally, there is currently no market for the Note, meaning it might be hard to find a buyer. As a result, you should be prepared to hold the Note through its maturity.

#### 5.9. No Advice

We have not provided you with any investment, financial, or tax advice. Instead, we have advised you to consult with your own legal and financial advisors and tax experts.

#### 5.10. Tax Treatment

We have not promised you any particular tax outcome from buying or holding the Note.

#### 5.11. Acting On Your Own Behalf

You are acting on your own behalf in purchasing the Note, not on behalf of anyone else.

#### 5.12. Investment Purpose

You are purchasing the Note solely as an investment, not with an intent to re-sell or “distribute” any part of it.

#### 5.13. Anti-Money Laundering Laws

Your investment will not, by itself, cause the Company to be in violation of any “anti-money laundering” laws, including, without limitation, the United States Bank Secrecy Act, the United States Money Laundering Control Act of 1986, and the United States International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001.

#### 5.14. Additional Information

3

At our request, you will provide further documentation verifying the source of the money used to purchase the Note.

#### 5.15. Disclosure

You understand that we may release confidential information about you to government authorities if we determine, in our sole discretion after consultation with our lawyer, that releasing such information is in the best interest of the Company or if we are required to do so by such government authorities.

#### 5.16. Additional Documents

You will execute any additional documents we request if we reasonably believe those documents are necessary or appropriate and explain why.

#### 5.17. No Violations

Your purchase of the Note will not violate any law or conflict with any contract to which you are a party.

#### 5.18. Enforceability

This Investment Agreement is enforceable against you in accordance with its terms.

#### 5.19. No Inconsistent Statements

No person has made any oral or written statements or representations to you that are inconsistent with the information in this Investment Agreement and the Disclosure Materials.

#### 5.20. Financial Forecasts

You understand that any financial forecasts or projections are based on estimates and assumptions we believe to be reasonable but are highly speculative. Given the industry, our actual results may vary from any forecasts or projections.

#### 5.21. Notification

If you discover at any time that any of the promises in this section 5 are untrue, you will notify us right away.

#### 5.22. Additional Promises by Individuals

If you are a natural person (not an entity), you also promise that:

##### 5.22.1. U.S. Citizen or Resident

You are a citizen or permanent resident (green card) of the United States.

##### 5.22.2. Financial Wherewithal

You can afford this investment, even if you lose your money. You don't rely on this money for your current needs, like rent or utilities.

##### 5.22.3. Anti-Terrorism and Money Laundering Laws

None of the money used to purchase the Note was derived from or related to any activity

4

that is illegal under United States law, and you are not on any list of “Specially Designated Nationals” or known or suspected terrorists that has been generated by the Office of Foreign Assets Control of the United States Department of Treasury (“OFAC”), nor are you a citizen or resident of any country that is subject to embargo or trade sanctions enforced by OFAC.

## 6. Confidentiality

The information we have provided to you about the Company, including the information in the Disclosure Document, is confidential. You will not reveal such information to anyone or use such information for your own benefit, except to purchase the Note.

## 7. Re-Purchase of Note

If we decide that you provided us with inaccurate information or have otherwise violated your obligations, or if required by any applicable law or regulation related to terrorism, money laundering, and similar activities, we may (but shall not be required to) repurchase your Note for an amount equal to the principal amount outstanding.

## 8. Governing Law

Your relationship with us shall be governed by Massachusetts law, without taking into account principles of conflicts of law.

## 9. Arbitration

### 9.1. Right to Arbitrate Claims

If any kind of legal claim arises between us as a result of your purchase of the Note, either of us will have the right to arbitrate the claim, rather than use the courts. There are only three exceptions to this rule. First, we will not invoke our right to arbitrate a claim you bring in Small Claims Court or an equivalent court, if any, so long as the claim is pending only in that court. Second, we have the right to seek an injunction in court if you violate or threaten to violate your obligations. Third, disputes arising under the Note or the Revenue Sharing Agreement will be handled in the manner described in the Revenue Sharing Agreement.

### 9.2. Place of Arbitration; Rules

All arbitration will be conducted in Massachusetts unless we agree otherwise in writing in a specific case. All arbitration will be conducted before a single arbitrator in accordance with the rules of the American Arbitration Association.

### 9.3. Appeal of Award

Within thirty (30) days of a final award by the single arbitrator, you or we may appeal the award for reconsideration by a three-arbitrator panel. If you or we appeal, the other party may cross-appeal within thirty (30) days after notice of the appeal. The panel will reconsider all aspects of the initial award that are appealed, including related findings of fact.

### 9.4. Effect of Award

Any award by the individual arbitrator that is not subject to appeal, and any panel award on appeal, shall be final and binding, except for any appeal right under the Federal Arbitration Act, and may be entered as a judgment in any court of competent jurisdiction.

5

### 9.5. No Class Action Claims

NO ARBITRATION SHALL PROCEED ON A CLASS, REPRESENTATIVE, OR COLLECTIVE BASIS. No party may join, consolidate, or otherwise bring claims for or on behalf of two or more individuals or unrelated corporate entities in the same arbitration unless those persons are parties to a single transaction. An award in arbitration shall determine the rights and obligations of the named parties only, and only with respect to the claims in arbitration, and shall not (i) determine the rights, obligations, or interests of anyone other than a named party, or resolve any claim of anyone other than a named party, or (ii) make an award for the benefit of, or against, anyone other than a named party. No administrator or arbitrator shall have the power or authority to waive, modify, or fail to enforce this paragraph, and any attempt to do so, whether by rule, policy, arbitration decision or otherwise, shall be invalid and unenforceable. Any challenge to the validity of this paragraph shall be determined exclusively by a court and not by the administrator or any arbitrator. If this paragraph shall be deemed unenforceable, then any proceeding in the nature of a class action shall be handled in court, not in arbitration.

### 10. Consent to Electronic Delivery

You agree that we may deliver all notices, tax reports and other documents and information to you by email or another electronic delivery method we choose. You agree to tell us right away if you change your email address or home mailing address so we can send information to the new address.

### 11. Notices

All notices between us will be electronic. You will contact us by email at the address indicated on the Company Signature Page below. We will contact you by email at the email address below. Either of us may change our email address by notifying the other (by email). Any notice will be considered to have been received on the day it was sent by email, unless the recipient can demonstrate that a problem occurred with delivery. You should designate our email address as a “safe sender” so our emails do not get trapped in your spam filter.

### 12. Limitations on Damages

WE WILL NOT BE LIABLE TO YOU FOR ANY LOST PROFITS OR SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, EVEN IF YOU TELL US YOU MIGHT INCUR THOSE DAMAGES. This means that at most, you can sue us for the amount of your investment. You can’t sue us for anything else.

### 13. Waiver of Jury Rights

IN ANY DISPUTE WITH US, YOU AGREE TO WAIVE YOUR RIGHT TO A TRIAL BY JURY. This means that any dispute will be heard by an arbitrator or a judge, not a jury.

### 14. Miscellaneous Provisions

#### 14.1. No Transfer

You may not transfer your rights or obligations.

#### 14.2. Right to Legal Fees

If we have a legal dispute with you, the losing party will pay the costs of the winning party, including reasonable legal fees.

#### 14.3. Headings

6

The headings used in this Investment Agreement (e.g., the word “Headings” in this paragraph), are used only for convenience and have no legal significance.

#### 14.4. No Other Agreements

This Investment Agreement and the Exhibits attached hereto are the only agreements between us.

#### 14.5 Electronic Signature

You will sign this Investment Agreement electronically, rather than physically.

7

# COMPANY SIGNATURE PAGE

Intending to be bound by this Investment Agreement and the Exhibits attached hereto, the Company has executed this document:

Signature: Allison Vaughan
Name: Allison Vaughan
Title: Owner
Date: 02/17/2023
Email Address: soulfullyveganct@gmail.com

8

# INVESTOR INFORMATION SHEET

*If Purchaser is an entity*

Name of Purchaser: ____________________ Name of Affiliated Person: ____________________

Email Address: ____________________ Title: ____________________

Mailing Address: ____________________ State of Organization: ____________________

____________________
____________________

# ADDITIONAL TERMS

Investment Amount: ____________________

Revenue Percentage: ____________________

Principal Amount: ____________________

Purchaser Percentage: ____________________

# INVESTOR SIGNATURE

Signature: ____________________

Date: ____________________

9

# EXHIBIT A

## REVENUE SHARING NOTE

THIS REVENUE SHARING NOTE (THE “NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD OR TRANSFERRED WITHOUT THE CONSENT OF THE COMPANY AND COMPLYING WITH SECURITIES LAWS.

THIS NOTE REPRESENTS THE OBLIGATION OF **SoulFully Vegan, LLC** (THE “COMPANY”) AND WAS ISSUED PURSUANT TO (i) AN OFFERING MEMORANDUM FILED WITH THE SEC IN CONJUNCTION WITH THE COMPANY’S FORM C, AND (ii) THE INVESTMENT AGREEMENT, WHICH ARE AVAILABLE FOR REVIEW AT WWW.MAINVEST.COM (THE “SITE”).

CAPITALIZED TERMS THAT ARE NOT OTHERWISE DEFINED IN THIS NOTE HAVE THE MEANINGS GIVEN TO THEM IN THOSE DOCUMENTS.

| Issuer | SoulFully Vegan, LLC |
| --- | --- |
| Maximum Payment Multiple 2 - Early Investors - All Other Investors | 1.7 x 1.5 x |
| Revenue Percentage 1 | 3.5 - 5.2% |
| Payment Frequency | Quarterly |
| Sharing Start Date | The first day after disbursement that the company has revenues greater than one ($1) dollar |
| First Payment Date | The last day of the calendar quarter ending not less than 90 days after the Sharing Start Date |
| Seniority | Subordinated |
| Securitization | Unsecured |
| Maturity Date | 12/31/2028 |
| Accrual Rate | 3.76% |

$^{1}$ The rate of revenue sharing is calculated on a linear scale with a minimum rate of 3.5% and a maximum rate of 5.2% and is rounded to the nearest 1/10th percent. The final rate is based on the amount raised and is calculated after the offering has successfully closed. As the amount raised in the offering increases, the rate of revenue sharing increases.

$^{2}$ To reward early participation, the investors who contribute the first $15,000.0 raised in the offering will receive a 1.7x cap. Investors who contribute after $15,000.0 has been raised in the offering will receive a 1.5x cap.

10

**Attachment 5:** `soulfully_pitch.pdf`

_No text found in this document._

**Attachment 6:** `soulfully_page.pdf`

2/17/23, 1:39 PM

Invest in SoulFully Vegan | Food Truck in CT

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SoulFully Vegan

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CT 06457

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Discussion

This is a preview. It will become public when you start accepting investment.

Early Investor Bonus: The investment multiple is increased to 1.7x for the next $15,000 invested.

This is a preview. It will become public when you start accepting investment.

THE PITCH

SoulFully Vegan is seeking investment to expand our customer-centric Vegan offerings.

This is a preview. It will become public when you start accepting investment.

ABOUT US

We're SoulFully Vegan, a Vegan truck and brand committed to cooking and delivering healthy vegan favorites. Our promise is to offer a reminder of good times and comfort, without sacrificing taste for health.

SoulFully Vegan, founded by Allison and husband Calvin, is a healthful and delicious vegan food trailer that offers 100% vegan comfort food that is just as filling as it is delicious. Although our menu may appear superficial (burgers, fries, milkshakes), we provide our customers cuisine that is rooted in American culture, but offers a Caribbean flare, using many traditional herbs and spices.

More than anything, our burgers have a "meaty" taste non-meat eaters oftentimes miss. Because of this, our customer market is wide, and includes people young and old, from the city, suburb and country. SoulFully Vegan has served all kinds of people and that's what we love most about us, everyone is welcome.

Our 100% vegan food truck has competed favorably against new and existing plant- based competitors in Connecticut, a state with a thriving plant-based food industry. We are amongst the top and most sought-after plant-based food truck services in the state. One that offers and takes much pride in the food we sell; authentic food that we would serve to our friends and family and being very matter of fact.

We also have a very strong social media presence which has given us quite a competitive advantage. Additionally, SoulFully Vegan's customer experience is extremely important as an effective way of distinguishing our truck from others and gives us yet another competitive edge. We love what we do.

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TASTE TESTING THE FAMOUS SPICY PB&J

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SoulFully Vegan is rolling out a Spicy PB&J Vegan Burger for the largest fair in the Northeast, the 2022 Big E.

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OUR MISSION

Making healthier food choices shouldn't mean denying ourselves the enjoyment of delicious food.

Our aim is simple. SoulFully Vegan will provide a one in a kind menu selection, ambiance, and service that creates a sense of a sophistication, quality, yet casual food truck experience.

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HAVE YOU SEEN US?

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Invest in SoulFully Vegan | Food Truck in CT

We believe no one should have to choose between healthy and delicious. SoulFully Vegan combines great taste with healthy plant-based food served with soulful flare.

The Big E

City of Middletown CT Juneteenth Festival

Greater Hartford Food Truck Festival

Harbor Park Car Show

Camp Oakdale Food Truck Festival

Hempfest 2021

Waterbury Hospital Food Truck Fridays

Connecticut Day Break

Middlesex Hospital Employee Servicing Event

UCONN Stores Welcome Back Event

Wesleyan University Film Festival

Wadsworth Atheneum End of Summer Bash

New England, MA Food Truck Festival

Southern CT State University Homecoming Weekend

Freedom Rally at the CT State Capital

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PRESS

Soulfully Vegan food truck rolls into Middletown

Husband and wife's hot dogs, burgers and fries made from Beyond Meat are winning over...

A Spicy PB&J Vegan Burger? Don't knock it till you try it at The Big E

The meatless burger topped with jalapeño jelly, peanut butter and vegan oat milk cheese was a big hit at The Big E Media Food Preview event on Aug. 25.

Connecticut vendors win FoodiE Awards at The Big E

Connecticut was well-represented in The Big E's first annual FoodiE Awards this year, as...

SoulFully Vegan Middletown, CT 06457 - Menu, 28 Reviews and 14 Photos - Restaurantji

Latest reviews, photos and 3 3/4 ratings for SoulFully Vegan at 22 Old Church St in Middletown - view the â menu, â %hours, â i, phone number, â address and map.

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THE TEAM

Allison Vaughan

Co-Founder & CEO

Calvin Vaughan

Co-Founder & CEO

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OUR PRODUCTS

Previous

Next

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SAMPLE MENU

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6,500 people

Social Media Followers

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Data Room

Intended Use of Funds

Target Raise

Maximum Raise

New commercial food trailer $40,000

Wrap for trailer $5,000

Marketing $1,625

https://mainvest.com/boulfully-vegan

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Invest in SoulFully Vegan | Food Truck in CT

Mainvest Compensation $3,375
Total $50,000
Financial Forecasts
Year 1 Year 2 Year 3 Year 4 Year 5
Gross Sales $325,000 $357,500 $393,250 $432,575 $454,204
Cost of Goods Sold $110,000 $121,000 $133,100 $146,410 $153,730
Gross Profit $215,000 $236,500 $260,150 $286,165 $300,474

EXPENSES

Rent $200 $200 $200 $200 $200
Marketing & Advertising $5,000 $5,000 $5,000 $5,000 $5,000
Cost of Labor $30,000 $30,000 $30,000 $30,000 $30,000
Memberships & Subscriptions $1,000 $1,000 $1,000 $1,000 $1,000
Insurance $6,000 $6,150 $6,303 $6,460 $6,621
Office Expenses $2,000 $2,050 $2,101 $2,153 $2,206
Payroll Expenses $4,000 $4,400 $4,840 $5,324 $5,590
T&E $4,000 $4,100 $4,202 $4,307 $4,414
Supplies & Materials $40,000 $41,000 $42,025 $43,075 $44,151
Vehicle Expenses $10,000 $10,250 $10,506 $10,768 $11,037
Operating Profit $112,800 $132,350 $153,973 $177,878 $190,255

This information is provided by SoulFully Vegan. Mainvest never predicts or projects performance, and has not reviewed or audited this financial forecast. Please see below for additional risk disclosures.

Documents

Investor Agreement
2021 Balance Sheet
2021 Income Statement
2022 Balance Sheet
2022 Income Statement
MxCC Business Proposal.pdf
Investment Round Status
Target Raise $50,000
Maximum Raise $75,000
Amount Invested $0
Investors 0
Investment Round Ends April 17th, 2023
Summary of Terms
Legal Business Name SoulFully Vegan, LLC
Investment Structure Revenue Sharing Note
Early Investor Bonus
Investment multiple for the first $15,000 invested
1.7x
Investment Multiple 1.5x
Business's Revenue Share 3.5%-5.2%
Minimum Investment Amount $100
Repayment Schedule Quarterly
Securitization None
Maturity Date December 31st, 2028
Financial Condition
Historical milestones

SoulFully Vegan has been operating since May 2021 - present and has since achieved the following milestones:

Opened location in Middletown, CT

Achieved revenue of $153k in 2021, which then grew to $256k in 2022.

Historical financial performance is not necessarily predictive of future performance.

Other outstanding debt or equity

As of 1/17/2023, SoulFully Vegan has debt of $0 outstanding and a cash balance of $5,000. SoulFully Vegan may require additional funds from alternate sources at a later date.

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# Risk Factors

# You Might Lose Your Money

When you buy a certificate of deposit from a bank, the Federal government (through the FDIC) guarantees you will get your money back. Buying a Note is not like that at all. The ability of SoulFully Vegan to make the payments you expect, and ultimately to give you your money back, depends on a number of factors, including many beyond our control.

# Limited Services

SoulFully Vegan operates with a very limited scope, offering only particular services to potential clients, making them vulnerable to changes in customer preferences.

# Lack of Accounting Controls

Larger companies typically have in place strict accounting controls. Smaller companies typically lack these controls, exposing themselves to additional risk.

# Competition

The market in which we operate is highly competitive and could become increasingly competitive with new entrants in the market. SoulFully Vegan competes with many other businesses, both large and small, on the basis of quality, price, location, and customer experience. Changes in customer preference away from SoulFully Vegan's core business or the inability to compete successfully against the with other competitors could negatively affect SoulFully Vegan's financial performance.

# Reliance on Management

As a securities holder, you will not be able to participate in SoulFully Vegan's management or vote on and/or influence any managerial decisions regarding SoulFully Vegan. Furthermore, if the founders or other key personnel of SoulFully Vegan were to leave SoulFully Vegan or become unable to work, SoulFully Vegan (and your investment) could suffer substantially.

# Financial Forecasts Risks

The financial forecasts provided by us herein are reasonable forecasts by us based upon assumption of stable economic conditions and other various assumptions regarding operations. The validity and accuracy of these assumptions will depend in large part on future events over which SoulFully Vegan and the key persons will have no control. Changes in assumptions or their underlying facts could significantly affect the forecasts. To the extent that the assumed events do not occur, the outcome may vary significantly from the projected outcomes. Consequently, there can be no assurance that the actual operating results will correspond to the forecasts provided herein. Additionally, SoulFully Vegan is a newly established entity and therefore has no operating history from which forecasts could be projected with.

# Inability to Sell Your Investment

The law prohibits you from selling your securities (except in certain very limited circumstances) for 12 months after you acquire them. Even after that one-year period, a host of Federal and State securities laws may limit or restrict your ability to sell your securities. Even if you are permitted to sell, you will likely have difficulty finding a buyer because there will be no established market. Given these factors, you should be prepared to hold your investment for its full term.

# The Company Might Need More Capital

SoulFully Vegan might need to raise more capital in the future to fund/expand operations, buy property and equipment, hire new team members, market its services, pay overhead and general administrative expenses, or a variety of other reasons. There is no assurance that additional capital will be available when needed, or that it will be available on terms that are not adverse to your interests as an investor. If SoulFully Vegan is unable to obtain additional funding when needed, it could be forced to delay its business plan or even cease operations altogether.

# Changes in Economic Conditions Could Hurt SoulFully Vegan

Factors like global or national economic recessions, changes in interest rates, changes in credit markets, changes in capital market conditions, declining employment, changes in real estate values, changes in tax policy, changes in political conditions, and wars and other crises, among other factors are unpredictable and could negatively affect SoulFully Vegan's financial performance or ability to continue to operate. In the event SoulFully Vegan ceases operations due to the foregoing factors, it can not guarantee that it will be able to resume operations or generate revenue in the future.

# No Registration Under Securities Laws

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The Notes will not be registered with the SEC or the securities regulator of any State. Hence, neither SoulFully Vegan nor the Notes will be subject to the same degree of regulation and scrutiny as if they were registered.

Incomplete Offering Information

Title III does not require us to provide you with all the information that would be required in some other kinds of securities offerings, such as a public offering of shares (for example, publicly-traded firms must generally provide investors with quarterly and annual financial statements that have been audited by an independent accounting firm). Although Title III does require extensive information, it is possible that you would make a different decision if you had more information.

Lack of Ongoing Information

SoulFully Vegan will be required to provide some information to investors for at least 12 months following the offering. However, this information is far more limited than the information that would be required of a publicly-reporting company; and SoulFully Vegan is allowed to stop providing annual information in certain circumstances.

Uninsured Losses

Although SoulFully Vegan will carry some insurance, SoulFully Vegan may not carry enough insurance to protect against all risks to the business. Additionally, there are some kinds of risks that are very difficult or impossible to insure against, at least at a reasonable cost. Therefore, SoulFully Vegan could incur an uninsured loss that could damage its business.

Changes in Laws

Changes in laws or regulations, including but not limited to zoning laws, environmental laws, tax laws, consumer protection laws, securities laws, antitrust laws, and health care laws, could negatively affect SoulFully Vegan's financial performance or ability to continue to operate. Specifically, any additional regulation on the industry could significantly negatively affect the business.

Conflict of Interest With Companies and Their Management

In many ways, your interests and the interests of SoulFully Vegan's management will coincide: you both want SoulFully Vegan to be as successful as possible. However, your interests might be in conflict in other important areas, including these: You might want SoulFully Vegan to act conservative to make sure they are best equipped to repay the Note obligations, while SoulFully Vegan might prefer to spend aggressively to invest in the business. You would like to keep the compensation of managers low, while managers want to make as much as they can.

Future Investors Might Have Superior Rights

If SoulFully Vegan needs more capital in the future and takes on additional debt or other sources of financing, the new investors might have rights superior to yours. For example, they might have the right to be paid before you are, to receive larger distributions, to have a greater voice in management, or otherwise.

The Company is Not Subject to the Corporate Governance Requirements of the National Securities Exchanges

Any company whose securities are listed on a national stock exchange (for example, the New York Stock Exchange) is subject to a number of rules about corporate governance that are intended to protect investors. For example, the major U.S. stock exchanges require listed companies to have an audit committee made up entirely of independent members of the board of directors (i.e., directors with no material outside relationships with SoulFully Vegan or management), which is responsible for monitoring SoulFully Vegan's compliance with the law. SoulFully Vegan will not be required to implement these and other investor protections.

You Have a Limited Upside

Notes include a maximum amount you can receive. You cannot receive more than that even if SoulFully Vegan is significantly more successful than your initial expectations.

You Do Have a Downside

Conversely, if SoulFully Vegan fails to generate enough revenue, you could lose some or all of your money.

Payments and Return Are Unpredictable

Because your payments are based on the revenue of SoulFully Vegan, and the revenue of SoulFully Vegan can go up or down (or even disappear altogether) unpredictably, it is impossible to predict how much you will receive and when. And because the payments are unpredictable, so is your

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ultimate return.

# The Notes Are Unsecured and Uninsured

The Notes are not secured by any collateral, nor are they guaranteed or insured by the FDIC or any other entity.

# Subordination

The Notes shall be subordinated to all indebtedness of SoulFully Vegan to banks, commercial finance lenders, leasing and equipment financing institutions, and/or other institutions regularly engaged in the business of lending money.

# Lack of Guaranty

The Notes are not personally guaranteed by any of the founders or any other person.

# Limitation of Individual Rights in Event of Default

In the event of a default under the Notes, you will not be able to enforce your rights individually (for example, by bringing a lawsuit). Instead, a representative will be appointed according to the procedures set forth in the Note Indenture. It's possible that you will not like the representative, or that the representative will do things you believe are wrong or misguided. If an event of default has occurred and a representative has been appointed, all of the representative's reasonable expenses must be paid before any further payments are made with respect to the Notes.

# COVID-19 Impact

The ongoing COVID-19 pandemic may impact the Company's ability to generate revenue and/or continue operations. If operations are ceased due to COVID-19 restrictions, the Company can not guarantee that it will resume operations in the future.

This information is provided by SoulFully Vegan. Mainvest never predicts or projects performance, and has not reviewed or audited this information. For additional information, review the official Form C filing with the Securities and Exchange Commission on the EDGAR website.

This is a preview. It will become public when you start accepting investment.

# Investor Discussion

# About Us

# Blog

# FAQ

# Write For Us

# Referral Program

# Business Resources

# Support Center

# Educational Materials

# Contact Us

# Terms of Service

# Privacy Policy

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

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** SoulFully Vegan, LLC

**Legal Status:** Limited Liability Company

**Jurisdiction of Incorporation/Organization:** CT

**Date of Organization:** 03-17-2021

**Physical Address:** 182 HAWKS NEST CIR, MIDDLETOWN, CT, 06457

**Issuer Website:** http://soulfullyvegan.com

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

**Intermediary Name:** MainVest, Inc.

**Intermediary CIK:** 0001746059

**Intermediary File Number:** 007-00162

### Offering Information

**Compensation to Intermediary:** MainVest will be paid Four and one half (4.5) Percent of the amount of the Offering raised by "In-Network Users" of the Platform plus Nine (9) Percent of the amount of the Offering raised by all other investors.

**Financial Interest in Issuer:** MainVest, Inc. owns no interest in the Company, directly or indirectly, and will not acquire an interest as part of the Offering, nor is there any arrangement for MainVest, Inc. to acquire an interest.

**Type of Security Offered:** Debt

**Price per Security:** $1.00

**Method for Determining Price:** The Notes are being valued at their face value. We don't anticipate that we'll ever need to place a value on the Notes in the future.

**Target Offering Amount:** $50,000.00

**Oversubscription Accepted:** Yes

**Oversubscription Allocation Type:** First-come, first-served basis

**Maximum Offering Amount:** $75,000.00

**Deadline to Reach Target Amount:** 04-17-2023

### Annual Report Disclosure Requirements

**Current Number of Employees:** 2.00

**Total Assets (Most Recent Fiscal Year):** $19,479.57

**Total Assets (Prior Fiscal Year):** $0.00

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $4,887.95

**Cash & Cash Equivalents (Prior Fiscal Year):** $0.00

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

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

**Short-Term Debt (Most Recent Fiscal Year):** $344.00

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

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

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

**Revenues/Sales (Most Recent Fiscal Year):** $122,946.22

**Revenues/Sales (Prior Fiscal Year):** $0.00

**Cost of Goods Sold (Most Recent Fiscal Year):** $20,216.84

**Cost of Goods Sold (Prior Fiscal Year):** $0.00

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

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

**Net Income (Most Recent Fiscal Year):** $6,146.00

**Net Income (Prior Fiscal Year):** $0.00

**Jurisdictions Offered:**

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

### Signatures

**Issuer:** SoulFully Vegan, LLC

**Signature:** Allison Vaughan

**Title:** Owner and CoFounder

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**Signature:** Allison Vaughan

**Title:** Owner and CoFounder

**Date:** 02-17-2023