# EDGAR Filing Document

**Accession Number:** 0001967809
**File Stem:** 0001670254-23-000226
**Filing Date:** 2023-3
**Character Count:** 318409
**Document Hash:** 8b4efabb3140ee4589b489277f59e7e6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001670254-23-000226.hdr.sgml**: 20230310

**ACCESSION NUMBER**: 0001670254-23-000226

**CONFORMED SUBMISSION TYPE**: C

**PUBLIC DOCUMENT COUNT**: 14

**FILED AS OF DATE**: 20230310

**DATE AS OF CHANGE**: 20230310

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Antelope Recovery, LLC
- **CENTRAL INDEX KEY:** 0001967809
- **IRS NUMBER:** 884056661

**FILING VALUES:**
- **FORM TYPE:** C
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-31967
- **FILM NUMBER:** 23722111

**BUSINESS ADDRESS:**
- **STREET 1:** 1035 PEARL STREET
- **STREET 2:** STE. 313
- **CITY:** BOULDER
- **STATE:** CO
- **ZIP:** 80302
- **BUSINESS PHONE:** 6282664770

**MAIL ADDRESS:**
- **STREET 1:** 1035 PEARL STREET
- **STREET 2:** STE. 313
- **CITY:** BOULDER
- **STATE:** CO
- **ZIP:** 80302

## Ex-99

### Attached PDF Documents

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

# Form C

## Cover Page

Name of issuer:

Antshore Recovery, LLC

Legal status of issuer:

Form: Limited Liability Company
Availability of Interparcelon Organization: CO
Date of organization: 9/6/2020

Physical address of issuer:

1233 Pearl Street
Ste. 313
Boulder CO 80302

Website of issuer:

www.antshorecreep.com

Name of intermediary through which the offering will be conducted:

Wehunder Portal LLC

CA number of intermediary:

000/870294

SEC file number of intermediary:

007-00033

CFO number, if applicable, of intermediary:

283003

Amount of compensation to be paid to the intermediary whether in a dollar amount or a percentage of the offering amount, or a credit from accounts if the event amount is not available at the time of the filing, for conducting the offering, including the amount of offer or and any other fees associated with the offering.

15% of the offering amount upon a successful fundraiser, and be entitled to reimbursement for out-of-pocket third party expenses if pays or incurs on behalf of the issuer in connection with the offering.

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

No

Type of security offered:

☐ Common Stock
☐ Preferred Stock
☐ Debt
☐ Other

If Other, describe the security offered:

Simple Agreement for Future Equity (SAFE)

Target number of securities to be offered:

10,000

Price:

$1.00000

Method for redeeming price:

The rated portion of the total principal value of $50,000 interests will be sold in increments of $1 each investment is convertible to one unit as described under item 13.

Target offering amount:

$50,000.00

Overvalued/losses allocated:

☐ Yes
☐ No

If yes, describe how overvalued/losses will be allocated:

☐ Pre-vests bonds
☐ First-come, first-served bonds
☐ Other

If other, describe how overvalued/losses will be allocated:

As determined by the issuer

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

$390,000.00

Deadline to reach the target offering amount:

4/30/2024

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

Current number of employees:

1

|  | Most recent fiscal year-end | Prior fiscal year-end |
| --- | --- | --- |
| Total Assets | $279.64 | $0.00 |
| Cash & Cash Equivalents | $279.64 | $0.00 |
| Accounts Receivable | $0.00 | $0.00 |
| Dividends | $0.00 | $0.00 |
| Long-term Debt | $0.00 | $0.00 |
| Retirement Funds | $1,831.00 | $0.00 |
| Cash & Cash Equivalents | $675.00 | $0.00 |
| Taxes Paid | $0.00 | $0.00 |
| Net Income | ($16,833.00) | $0.00 |

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

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

## Offering Statement

Required to each question in each paragraph of this plan, for both each question and any order, but not any instructions therein, in their entirety. If disclosure is required in any question is requested, there is no need for any questions, it is not necessary to report the disclosure. If a question or order of questions is inapplicable on the response is available elsewhere in the form, either way, like it is inapplicable, include a new reference to the response disclosure or order for questions of action of questions.

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

# THE COMPANY

A Name of Issuer
Asterique Recovery, LLC

# COMPANY ELIGIBILITY

2. Check this box to certify that all of the following statements are true for the issuer:
- Organized under, and subject to, the laws of a State or territory of the United States or the District of Columbia.
- Not subject to the requirement to file reports pursuant to Section 13 or Section 10(a) of the Securities Exchange Act of 1934.
- Not an investment company registered or required to be registered under the Investment Company Act of 1940.
- Not responsible to rely on the exemption under section 4(a)(4) of the Securities Act as a result of a disqualification specified in Rule 105(a) of Regulation Crowdfunding.
- Has filed with the Commission and provided for inaction, to the extent required, the ongoing annual reports required by Regulation Crowdfunding during the two years immediately preceding the filing of this offering statement (or for such shorter period that the issuer was required to file such reports).
- Not a development stage necessary that can be its specific business plan or (to) has indicated that its business plan is to engage in a merger or acquisition with an uncontrolled company or companies.

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

3. Has the issuer or any of its predecessors previously failed to comply with the ongoing reporting requirements of Rule 105 of Regulation Crowdfunding?

☐ Yes ☑ No

# DIRECTORS OF THE COMPANY

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

| Director | Principal Occupation | Main Director | Year Joined as Director |
| --- | --- | --- | --- |
| Shelby Robbins | CEO | Asterique Recovery | 2020 |
| Robert Macnaughton | Executive Coach | Self-employed | 2022 |

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

# OFFICERS OF THE COMPANY

5. Indicate the following information about each officer (and any person) notifying a similar status or performing a similar function of the issuer:

| Officer | Business Name | Year Joined |
| --- | --- | --- |
| Shelby Robbins | CEO | 2022 |

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

INSTRUCTION TO QUESTION 5: The purpose of the question 1. Are there official names, specialties, or members, or other members of the board, or any other person who is not a member of the board, or any other person who is not a member of the board, or any other person who is not a member of the board, or any other person who is not a member of the board, or any other person who is not a member of the board, or any other person who is not a member of the board, or any other person who is not a member of the board, or any other person who is not a member of the board, or any other person who is not a member of

# PRINCIPAL SECURITY HOLDERS

6. Indicate the name and ownership level of each person, as of the most recent year's and/or date, where the benefit of a year of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power.

| Name of holder | No. and Class of Securities New York | % of Voting Power Paid by Offering |
| --- | --- | --- |
| Shelby Robbins | None | 99.0 |

INSTRUCTION TO QUESTION 6: The above information must be provided on or before the last year from 20 days prior to the last of the following month.

The document must be prepared, in which, of an entity for which the person should be notified by the or above the voting power, which is not only one or more of the other being issued to the person's right to a party, being issued to the person's right to a party, being issued to the person's right to a party, being issued to the person's right to a party, being issued to the person's right to a party, being issued to the person's right to a party, being issued to the person's right to a party, being issued to the person's right to a party, being issued to the person's right to a party, being issued to the person's right to a party, being issued

# BUSINESS AND ANTICIPATED BUSINESS PLAN

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

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

INSTRUCTION TO QUESTION 7: If the issuer is a member of the issuer, the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided

The information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided by the issuer and the information is provided

# RISK FACTORS

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

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

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

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

8. Discuss the multiple factors that occur as investment in the issuer (prescription or other):

The Company might not sell enough securities in this offering to meet its operating needs and fulfill its plans, in which case the Company might need to

reduce sales & marketing, engineering, or other expenses. Were recruiting revenue to decrease, further cuts would be needed and hurt the Company's ability to meet its goals. Even if the Company raises the entire round successfully, we may need to raise more capital in the future in order to continue. Even if we do make successful offerings(s) in the future, the terms of that offering might result in your investment in the company being worth less because of the terms of future investment rounds.

As a startup organization, the company is still very dependent on its co-founders. If anything catastrophic were to happen to the company's founding team, the future of the company may be compromised. The Founder/ CEO Shelby Robbins is the only full-time employee. All other founders have additional work obligations. Each of these obligations may result in diminished time being committed to Antelope Recovery and potentially repaid company performance.

The Company relies on Web Services for testing and other third-party technology vendors such as Strips, Nares, and Google for payments and financial services. Any interruption in the availability of these vendors could have material negative impact on our ability to deliver service to users, as well as the profitability of these operations. Interruptions could occur due to both internet outages as well as policy changes or terms violations according to these third parties. The prospect of increased regulation and/or internet censorship may create excess challenges to our users and service offerings. Our long-term vision is to extract all third-party hosting requirements in order to become independently sustainable.

Breaches of the Company's platform and systems may materially affect client adoption and subject the Company to significant negative reputational, legal or operational consequences. Antelope's user privacy has never been compromised to also due to a focus on encryption and security, but 100% security cannot be guaranteed. Cyber crimes are becoming increasingly common and aggressive which brings parallel because in risk.

We may be subject to future governmental regulations. Aspects of our business and our products may be regulated at the local, state, and federal levels. Our products may be subject to scale, error and Federal environmental laws and regulations, including those relating to the handling and storage of hazardous materials. We and our products may also be subject to significant governmental regulation relating to labor conditions, safety to the workplace, healthcare and other human resource issues. The nature and scope of future legislation, regulations and programs cannot be predicted. While we anticipate that we and our products will be in compliance with all applicable governmental regulations, there still may be risks that such laws and regulations may change with respect to present or future operations. Such additional costs would increase the cost of investments and operations and decrease the demand for products and services. We and our products will be ultimately responsible for compliance with such regulations and for obtaining and maintaining all required permits and licenses. Such compliance may be time consuming and costly, and such expenses may materially affect our future ability to break even or generate profits.

The Company has made certain assumptions about the healthcare marketplace in order to create financial projections for the business. There is risk associated with the accuracy of these projections due to continuous changes in technology, now feature introductions by competitors, changes in user preferences and shifts in user demographics. In order to mitigate this risk, the Company has taken great care to ensure the reliability and course quality of key assumptions used in the business plan. The company diligently reassesses publicly available information and initiatives of competitors, changes in the marketplace and changes in user preferences. We pride ourselves on being innovative and ahead of the curve whenever possible.

The Company is a modern driven business that is focused on providing a product that is both safe and provides emergency healthcare to teens. As a result, the Company may make decisions based on considerations other than strictly, increasing short-term profit and may initially result in the product costs. These decisions will likely reduce the amount of revenue available to the Company to operate and grow, and a treasury to return to investors, which may further increase the chances of the investment and potential loss of any investment.

The company currently has more liabilities than assets so investors are unlikely to be retained any capital should the company close down.

Due to the volume and sensitivity of the personal information and data we manage and the nature of our products, the security features of our platform and information systems are critical. If our security measures, some of which are managed by third parties, are breached or fail, unauthorized persons may be able to obtain access to sensitive user data. If we or our third-party service providers, business partners, or third-party apps with which our users choose to share their data were to experience a breach of systems compromising our users' sensitive data, our brand and reputation could be adversely affected, use of our products and services could decrease, and we could be exposed to a risk of loss, litigation, and regulatory proceedings. Depending on the nature of the information compromised, in the event of a data breach or other unauthorized access to our user data, we may also have obligations to notify users about the incident and we may need to provide some form of remedy, such as a subscription to a credit monitoring service, for the individuals affected by the incident. A growing number of legislative and regulatory bodies have adopted consumer notification requirements in the event of unauthorized access to or acquisition of certain types of personal data.

The success of the Company will depend on its ability to compete for and retain additional qualified key personnel to enhance the growth. The Company's business would be adversely affected if it were unable to recruit qualified personnel when necessary or if it were to lose the services of certain key personnel and it were unable to resite suitable replacements in a timely manner. Finding and hiring such replacements, if any, could be costly and might require the Company to grant significant equity awards or incentive compensation, which could have a material adverse effect on the Company's financial results and on your investment. The loss, through untimely death, usually injures to continue or otherwise, of any such persons could have a materially adverse effect on the Company and its business.

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

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

PRODUCTION OF THE COMPANY IS A real, practical, and professional, and it is a key, but not a major, or a major. The company is a major, and it is a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major, or a major

## The Offering

### USE OF FUNDS

1. What is the purpose of the offering?

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

2. How does the issue stand to use the proceeds of this offering?

Funds: $50,000

List of: Adding the minimum funding amount gives us the ability to open our business. We will spend that money in the following ways:

90% towards hiring clinicians full-time for program development and achieving licensure in the state of CO

2.5% licensure application fees, and discharge health record fee.
7.5% Wefunder fee.

# **$250,000**

Affecting our maximum fundraiser target about us to not only open our doors but to begin building parts of the program that are more innovative including different types of technology tools to support our therapists, animal and nature based therapy programs, 4 months of nursing.

45% towards licensure and program development (a team of 4 clinicians dedicated to policy setting and program creation for launch in 80 days time).

22.5% towards launching the first beta cohort of 15 clients (paying clinical team for 2 months of runway, our Electronic Health records, and marketing).

22% towards improving program after the 1st launch and expanding the program to 30 clients on month 4 (clinical fee's and marketing fee's).

7.5% Wefunder fee

INSTRUCTIONS TO QUESTION 13. In case you prefer a successful, detailed description of your knowledge of your work, we have been a very good, but we believe that we are not to be able to get the work. We are not to be able to get the work. We are not to be able to get the work. We are not to be able to get the work.

# **DELIVERY & CANCELLATIONS**

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

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

2. How can an investor cancel an investment commitment?

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

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

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

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

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

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

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

Within five business days of cancellation of an offering by the Company, the Company will give each investor notification of the cancellation, disclose the reason for the cancellation, identify the refund amount the investor will receive, and refund the investor's funds.

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

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

## Ownership and Capital Structure

# **THE OFFERING**

1. Does the tie terms of the securities being offered?

To view a copy of the SAFE you will purchase, please see

Appendix B, Investor Contracts.

The main terms of the SAFE's are provided below.

The SAFE's. We are offering securities in the form of a Simple Agreement for

Return Equity ("SAFE"),

which provides investors the right to preferred units in the Company ("Preferred Units"),

when and if the Company sponsors an equity offering that involves Preferred Units, on the standard terms offered to other investors.

Commonly Preferred Units. Based on our SAFE's, when we engage in an offering of equity interests involving preferred units.

Investors will receive a number of shares of preferred units calculated using the method that results in the greater number of preferred units.

1. The total value of the investor's investment, divided by

1. the price of preferred units issued to new investors multiplied by

2. the discount rate (95%) or

2. if the valuation for the company is more than $5,000,000.00 (the "Valuation

Cap"), the amount invested by the investor divided by the quotient of

1. the Valuation Cap divided by

2. the total amount of the Company's capitalization at that time.
3. for investors up to the first $80,000.00 of the securities, investors will receive

the investment.

A RESEARCH LAB OF BLANK/ANALOG AND A DISEASE RISK OF INCOME

Additional Statement for Materials, Inc. For purposes of action (1) above, the Company's capitalization calculated as of immediately prior to the Equity Financing and (without double-counting, in each case calculated on an as-converted to Common Unit basis);

- Includes all shares of Capital Unit issued and outstanding;

- Includes all Converting Securities;

- Includes all (1) issued and outstanding Options and (2) Promised Options; and

- Includes the Unissued Option Pool, except that any increase to the Unissued Option Pool in connection with the Equity Financing shall only be included to the extent that the number of Promised Options exceeds the Unissued Option Pool prior to such increase.

Liquidity Form. If the Company has an initial public offering or is acquired by, merged with, or otherwise taken over by another company or new owners prior to investors in the SAAF's receiving preferred units, investors will receive:

- payments equal to the greater of (1) the Purchase Amount (the "Cash-Out Amount") or (2) the amount payable on the number of shares of Common Units equal to the Purchase Amount divided by the Liquidity Price (the "Conversion Amount").

Liquidity Form. As a Liquidity Event or Dissolution Event, this Safe is intended to operate the standard non-participating Preferred Units. The Investor's right to receive its Cash-Out Amount is:

1. Owner or payment of outstanding indebtedness and creditor claims, including contractual claims for payment and convertible promissory notes (by the extent such convertible promissory notes are not actually or notionally converted into a deposit limit);

2. On par with payments for other Sales and/or Preferred Units, and if the applicable Proceeds are insufficient to permit full payments to the investor and such other Sales and/or Preferred Units, the applicable Proceeds will be distributed pro rata to the investor and such other Sales and/or Preferred Units in proportion to the full payments that would otherwise be due, and better to payments for Common Unit.

### Securities Issued by the SPV

Instead of issuing its securities directly to investors, the Company has decided to issue its securities to the SPV, which will then issue interests in the SPV to investors. The SPV has been formed by Wefunder Admin, LLC and is a co-owner with the Company of the securities being offered in this offering. The Company's use of the SPV is intended to allow investors in the SPV to achieve the same economic exposure, voting power, and ability to assert state and Federal law rights, and receive the same disclosures, as if they had invested directly in the Company. The Company's use of the SPV will not result in any additional fees borne charged to investors.

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

### Voting Rights

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

### Proxy to the Lead Investor

The SPV securities have voting rights. With respect to those voting rights, the investor and his, her, or its transferees or assignees (collectively, the "Investor"), through a power of attorney, granted by investor in the Investor Agreement, has appointed or will appoint the Lead Investor as the Investor's true and lawful proxy and attorney (the "Proxy") with the power to act alone and with full power of substitution, on behalf of the Investor to: (1) vote all securities related to the Company purchased in an offering hosted by Wefunder Portal, and (2) execute, in connection with such voting power, any instrument or document that the Lead Investor determines is necessary and appropriate in the exercise of his or her authority. Such Proxy will be irrevocable by the Investor unless and until a successor lead investor ("Replacement Lead Investor") takes the place of the Lead Investor. Upon notice that a Replacement Lead Investor has taken the place of the Lead Investor, the Investor will have five (5) calendar days to revoke the Proxy. If the Proxy is not revoked within the 5-day time period, it shall remain in effect.

### Restriction on Transferability

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

14. Do the securities offered have voting rights?

☐ Yes
☑ No

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

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

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

Any provision of this Safe may be amended, waived or modified by written consent of the Company and either:

1. the investor or
A. the majority-in-interest of all then-outstanding Safes with the same "Peak Money Valuation Cap" and "Discount Rate" as this Safe Lead Sales (except one in both of such terms will be considered to be the same with respect to each term(s)) provided that with respect to clause (b):
A. the Purchase Amount may not be amended, waived or modified in this manner;
B. the consent of the investor and each holder of such Safes must be solicited (cover if not assigned); and
C. such amendment, waiver or modification (made of such holders in the same manner "Majority-in-interest" refers to the holders of the applicable group of Safes whose Safes have a total Purchase Amount greater than 50% of the total Purchase Amount of all of such applicable group of Safes.

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

A. Wefunder Portal may amend the terms of an investment contract, provided that the amended terms are more favorable to the investor than the original terms; and

B. Wefunder Portal may reduce the amount of an investor's investment if the reason for the reduction is that the Company's offering is oversubmitted.

### RESTRICTIONS ON TRANSFER OF THE SECURITIES BEING OFFERED:

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

1. in the name;
2. in an authorized manner;
3. as part of an offering registered with the U.S. Securities and Exchange Commission; or
4. in a statement of the family of the purchaser or the agent there is a trust amended by the purchaser, or a trust owned by the holder of a member of the family of the purchaser or the agent, or in connection with the death or absence of the purchaser or other similar circumstances.

NOTE: The term "succeeded investor" means any person who comes within any of the companies, set forth in Rule 5(b)(2) of Regulation D, or who the seller reasonably believes, comes within any of such categories, at the time of the sale of the securities to that person.

The term "member of the family of the purchaser or the equivalent" includes a child, classchild, grandchild, parent, disapparent, grandparent, spouse or spousal equivalent, sibling,

mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law of the purchaser, and includes education relationships. The term "special equivalent" means a consistent occupying relationship generally equivalent to that of a spouse.

# DESCRIPTION OF ISSUER'S SECURITIES

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

|  | Securities (or Amount) Authorized | Securities (or Amount) Outstanding | Voting Rights |
| --- | --- | --- | --- |
| Class of Security | This is an LLC with no issued units. |  |  |

# Securities Reserved for
Issuance upon Exercise or Conversion

Warrants:

Options:

Describe any other rights:

If the S&FE consents, investors will received preferred units, which have a liquidation preference over common units. The company has not yet authorized any units.

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

The holders of a majority-in-interest of voting rights in the Company could limit the investor's rights in a material way. For example, those interest holders could vote to change the terms of the agreements governing the Company's operations or cause the Company to engage in additional offerings (including potentially a public offering).

These changes could result in further limitations on the voting rights the investor will have as an owner of equity in the Company, for example by diluting those rights or lending them to certain types of events or consents.

To the extent applicable, in cases where the rights of holders of convertible debt, S&F&S, or other outstanding options or warrants are exercised, or if new awards are granted under our equity compensation plans, an investor's interests in the Company may be diluted. This means that the pro-rata portion of the Company represented by the investor's securities will decrease, which could also decrease, the investor's voting and/or economic rights. In addition, as discussed above, if a majority-in-interest of holders of securities with voting rights cause the Company to issue additional equity, an investor's interest will typically also be diluted.

Based on the risk that an investor's rights could be limited, diluted or otherwise qualified, the investor could lose all in part of his or her investment in the securities in this offering, and may never see positive returns.

Additional risks related to the rights of other security holders are discussed below, in Question 23.

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

No.

20. How could the exercise of right's help by the principal shareholders identified in Question 9 above affect the purchases of the securities being offered?

As holders of a majority-in-interest of voting rights in the Company, the **untholders** may make decisions with which the investor disagrees, or that negatively affect the value of the investor's securities in the Company, and the investor will have to exclusive to change these decisions. The investor's interests may conflict with those of other investors, and there is no guarantee that the Company will develop in a way that is optimal for its advantageous to the investor.

For example, the **untholders** may change the terms of the operating agreement for the company, change the terms of securities issued by the Company, change the management of the Company, and even force out minority holders of securities. The **untholders** may make changes that affect the tax treatment of the Company in ways that are enforceable to you but favorable to them. They may change in an arrangement in an offering, and/or to register excess of the Company's securities in a way that negatively affects the value of the securities the investor owns. Other holders of securities of the Company may also have access to more information than the investor, leaving the investor at a disadvantage with respect to any decisions regarding the securities he or she owns.

The **untholders** have the right to redeem their securities at any time. **Unitholders** could decide to have the Company to redeem their **securities** at a time that is not favorable to the investor and is damaging to the Company. Investors' exit may affect the value of the Company and/or its volatility.

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

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

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

The initial amount invested in a S&F is determined by the investor, and we do not guarantee that the S&F will be converted into any particular number of **units**. As discussed in Question 13, when we engage in an offering of equity interests involving **Preferred Units**, investors may receive a number of **Preferred Units** calculated as either (1) the total value of the investor's investment, divided by the price of the **Preferred Unit** being issued to new investors, or (2) if the valuation for the company is more than the Valuation Cap, the amount invested divided by the quotient of (a) the Valuation Cap divided by (b) the total amount of the Company's capitalization at that time.

Because there will likely be no public market for our securities prior to an initial public offering or similar liquidity event, the price of the **Preferred Units** that investors will receive, and/or the total value of the Company's capitalization, will be determined by our **management**. Among the factors we may consider in determining the price of **Preferred Units** are generally market conditions, our financial information, market valuations of other companies that we believe to be comparable to us, estimates of our business potential, the present state of our development and other factors deemed relevant.

In the future, we will perform valuations of our **units** that take into account, as applicable, factors such as the following:

- unrelated third party valuations;
- the price at which we sell other securities in light of the relative rights, preferences and privileges of those securities;
- our results of operations, financial position and capital resources;
- current business conditions and procedures;
- the marketability or lack thereof of the securities;
- the hiring of key personnel and the experience of our management;
- the introduction of new products;
- the risk inherent in the development and expansion of our products;
- our stage of development and material risks related to our business;
- the likelihood of achieving a liquidity event, such as an initial public offering or a

lack of our company given the prevailing market conditions and the results and history of our business.

- Industry trends and competitive environment;

- trends in consumer spending, including consumer confidence;

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

- the general economic outlook.

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

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

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

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

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

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

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

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

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

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

Transactions with related parties. The investor should be aware that there will be occasions when the Company may encounter potential conflicts of interest in its operations. On any issue involving conflicts of interest, the executive management of the Company may attempt to then good faith (utypical) as to the Company's best interests. The Company may engage in transactions with affiliates, subsidiaries or other related parties, which may be on terms which are not a single, but will be in all cases consistent with the claims of the management of the Company to its unitholders. By acquiring an interest in the Company, the investor will be deemed to have acknowledged the existence of any such actual or potential conflicts of interest and to have proved any claim with respect to any liability arising from the existence of any such conflict of interest.

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

Note:

EXAMPLE 24. If you are not a member of the issuer, you may have a position in the company's business.

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

Offering Data Exemption Security Tax Amount Sold Use of Proceeds No exempt offerings.

26. Who is in the issuer or any entities controlled by or under common control with the issuer's party to any transaction over the beginning of the issuer's last fiscal year or any currently employed transaction, where the amount involved exceeds the percent of the aggregate amount of capital raised by the issuer's balance on business (outside of the securities Act) during the preceding 12 month period, including the amount the issuer seeks to raise in the current offering or which any of the following amounts had or is to have a direct or indirect redistribution:

1. any director or officer of the issuer;
2. any person who is, as of the most recent applicable date, the beneficial owner of its parent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power;
3. if the issuer was incorporated or organized within the past three years, any promoter of the issuer;
4. or any immediate family member of any of the Company's owners;
☐ Yes
☐ No

INSTRUCTIONS: For the information below, the issuer must be in full force and in no charge to any financial institution, management or accounting operating any material or purposes of performance or any other or similar business, management or related debt.

The issuer must be responsible for the payment of the security fee and be determined by a plan that is to meet the 17th day period for the offering of the offering, and must meet the same conditions described in the document at the time of the date of the date of the date.

The issuer must be responsible for the payment of the security fee and be determined by a plan that is to meet the 17th day period for the offering of the offering, and must meet the same conditions described in the document at the time of the date of the date.

The issuer must be responsible for the payment of the security fee and be determined by a plan that is to meet the 17th day period for the offering of the offering, and must meet the same conditions described in the document at the time of the date of the date.

FINANCIAL CONDITION OF THE

# ISSUER

27. Does the issuer have an operating history?

28. Describe the financial condition of the issuer, including, in the event material, liquidity capital, insurance and historical results of operations.

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

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

### Overview

Essential market healthcare for teens.

### Milestones

Antelope Recovery, LLC was incorporated in the State of Colorado in September 2022.

Since then, we have:

- Growing market, in the US, 10 million teens need IOP, and 90% are currently unable to access it.

- Now is the time. Telematch regulations have transformed post-COVID, opening the door for change.

- The founding team has 40+ years of experience in healthcare.

The Company is subject to risks and uncertainties common to early-stage companies. Given the Company's limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future.

### Historical Results of Operations

Our company was organized in September 2022 and has limited operations upon which prospective investors may base an evaluation of its performance.

- America & Data Bases. For the period ended December 31, 2022, the Company had revenues of $1.931. Our gross margin was $5.04%.

- Japan. As of December 31, 2022, the Company had total assets of $279.64, including $279.64 in cash.

- Belgium. The Company has had net losses of $16,833 for 2022.

- Canada. The Company's liabilities totaled $0 for 2022.

### Liquidity & Capital Resources

After the conclusion of this offering, should we hit our minimum funding target, our projected runway is 3 months before we need to raise further capital.

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

We will likely require additional financing in excess of the proceeds from the offering to order to perform operations over the lifetime of the Company. We plan to raise capital in 2 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, this not possible to adequately protect whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity represents the potential of less than the maximum amount of securities offered in this offering is told. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.

### Runway & Short/Mid Term Expenses

Antelope Recovery, LLC cash in hand is $1,500, as of February 2023. Over the last three months, revenues have averaged $2,200/month, cost of goods sold has averaged $675/month, and operational expenses have averaged $2,375/month, for an average burn rate of $640 per month. Our intent is to be profitable in 1 month.

There are currently no material changes or trends in Antelope Recovery's finances or operations that have occurred since the date that the company's financial move.

We intend to launch a beta-IOP program with 10 teens one month after receiving funding. We expect the beta cohort will bring in over $100,000 in revenue. Most IOP programs charge over $1,000 per day for services per teen as calculated politically by insurance companies such as kaiser, active, and blue cross blue shield. We will grow our capacity to take clients by 10 additional kids each month, with the expectation of having the program 75% filled. We need a minimum of $50,000 to launch a beta program.

We are not currently profitable. We need a minimum of $10,000 to reach a point of profitability and we expect to reach that point three months after receiving funds. Currently, our profitability is dependent on our ability to achieve licensure in the state of Colorado and pay for staff expenses, and insurance fees.

We currently have a parent program product available to the public that costs $400, as well as a small teen group that costs $400 per teen. These two products are carrying up through short-term burn throughout the campaign. Additionally, our team is using a dynamic equity model, taking pro, to bootstrap our way through this pro need round.

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

ANTHROPSON INDEPENDENT. The discussion and review must be taken into account and must be reviewed. The financial information is not to be used to determine the impact of the financial situation and the financial situation. The financial situation is not to be used to determine the impact of the financial situation and the financial situation. The financial situation is not to be used to determine the impact of the financial situation and the financial situation.

# FINANCIAL INFORMATION

28. Include financial statements covering the two main currently completed fiscal years in the period of three months. / Please

Refer to Appendix C, Financial Statements

I. Wally, Editor, and/or

(1) the financial statements of Antelope Recovery, LLC included in this Form are true and complete in all material respects; and

(2) the financial information of Antelope Recovery, LLC included in this Form

reflects accessible the information reported on the tax return for American Reserves, LLC filed for the most recently completed fiscal year.

Shelby Robbins
CEO

## STAKEHOLDER ELIGIBILITY

(1) With respect to the issuer, any combination of the issuer, any affiliated issuer, any director, officer, general partner or managing member of the issuer, any specific issuer of (it) secured or more of the issuer's capital by voting equity securities, any promoter connected with the issuer or any issuer(s) or the time of such sale, any person that has been or will be paid (directly or indirectly) representation for securities of purchasers in connection with such sale of securities, or any general partner, director, officer or managing member of any such issuer, prior to May 16, 2016.

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

1. In connection with the purchase or sale of any security [☐ Yes] [☐ No]
2. Involving the making of any false filing with the Commission [☐ Yes] [☐ No]
3. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities issuer, investment adviser, for other period or paid solicitor of purchasers of securities [☐ Yes] [☐ No]

(3) In any such person subject to any strict judgment or decree of any court of competent jurisdiction, whether or not the issuer or the filing of this information reported by Section 4(a) of the Securities Act (the) at the time of filing of this offering statement, relevant or insure such person from company or community to interest in any conduct or practice:

1. In connection with the purchase or sale of any security [☐ Yes] [☐ No]
2. Involving the making of any false filing with the Commission [☐ Yes] [☐ No]
3. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities issuer, investment adviser, for other period or paid solicitor of purchasers of securities [☐ Yes] [☐ No]

(4) In any such person subject to a final order of a state securities commission (or an agency or officer of a state performing the functions), a state authority that authorizes or examines banks, savings associations or credit unions, a state securities commission (or an agency or officer of a state performing the functions), an appropriate federal banking agency, the U.S. Community Futures Trading Commission, or the National Credit Union, administered that:

1. at the time of the filing of this offering statement from the person from:
   a. association with an entity (available for such commission, authority, name or office) [☐ Yes] [☐ No]
   b. company in the business of securities, insurance or notaries [☐ Yes] [☐ No]
   c. company in foreign association or credit union activities [☐ Yes] [☐ No]
2. constitutes a true value based on a violation of any law or regulation that prohibits fraudulent, manipulative or deceptive conduct and for which the order was entered within the 10-year period ending on the date of the filing of this offering statement [☐ Yes] [☐ No]

(5) In any such person subject to an order of the Commission entered pursuant to Section 4(a) of the Exchange Act or Section 2002(a) or (b) of the Investment Advisers Act of 1948 (the) at the time of the filing of this offering statement:

1. suspends or revicts such person's registration as a broker, dealer, municipal securities issuer, investment adviser or funding agent [☐ Yes] [☐ No]
2. places for business of the activities, functions or operations of such person [☐ Yes] [☐ No]
3. bans such person from voting associated with any entity or from participating in the offering of any party itself [☐ Yes] [☐ No]

(6) In any such person subject to any order of the Commission entered within five years before the filing of this offering statement (the) at the time of the filing of this offering statement, unless the person to cease and desist from committing or causing a violation or failure to cease or desist:

1. any interest based on fiscal provision of the federal securities laws, including a fiscal limitation Section 11(a)(1) of the Securities Act, Section 1002 of the Exchange Act, Section 1001 of the Exchange Act and Section 1001 of the Investment Advisers Act of 1948 or any other rule or regulation thereunder [☐ Yes] [☐ No]
2. Section 5 of the Securities Act [☐ Yes] [☐ No]

(7) In any such person suspended or expelled from membership in, or suspended or burned from association with a member of, a registered business securities exchange or a registered national or affiliated securities association for any act or omission to act (excluding conduct, investment, without and equitable purposes of trade):

[☐ Yes] [☐ No]

(8) Has any such person filed (as a registered or issuer) or was any such person or was any such person named as an independent, non-regulated, independent or Regulated A offering statement filed with the Commission that, within five years before the filing of this offering statement, was the subject of a refusal under, stop order, or order suspending the Regulation A exemption, or is any such person, at the time of such filing, the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued):

[☐ Yes] [☐ No]

(9) In any such person subject to a United States Postal Service false representation order entered within five years before the filing of this information required by Section 4(a)(3) of the Securities Act, or, in any such person, at the time of filing of this offering statement, subject to a temporary revocation order or preliminary objection with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property through the military review of false representations):

[☐ Yes] [☐ No]

If you would have answered "No" to any of these questions and the conviction, order, judgment, decree, suspension, expulsion or bar occurred or been issued after May 16, 2016, then you are NOT eligible to rely on this exemption under Section 4(a)(3) of the Securities Act.

INSTRUCTIONS TO QUESTION 1: If you under whose or similar law it is or do not in connection with the conduct or use of any other, then that the Rule 1 of the Securities Act is amended, and/or applicable, and/or authority, and/or public for in the case or application for a tax, which is not a final determination of the law.

The reason you ought to be able to do with respect to your writing or any official (or other) or other business in the official name of the official (or other) or the title of the name or (if not, otherwise, or not) with the name by which you have no consent of the official (or other) or the name of your name.

## OTHER MATERIAL INFORMATION

1. In addition to the information expressly required to be included in this form, we can:

1. (1) any other material information presented to investors; and
2. (2) such further material information, if any, is being be necessary to make the required statements, in the light of the circumstances under which they are made, not knowledge.

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

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

The Lead Investor can quit at any time or can be removed by Wefunder Inc. for cause or pursuant to a note of investors as detailed in the Lead Investor Agreement. In the event the Lead Investor quits or is removed, the Company will choose a Successor Lead Investor who must be approved by Wefunder Inc. The identity of the Successor Lead Investor will be disclosed to investors, and those that have a Proxy in effect can choose to either leave such Proxy in place or

receive such Proxy during a 3-day period beginning with notice of the replacement of the Lead Investor

The Lead Investor will not receive any compensation for his or her services to the SPV. The Lead Investor may receive compensation if, in the future, Wefunder Advisors LLC forms a fund ("fund") for estimated investors for the purpose of investing in a non-Regulation Crowdfunding offering of the Company. In such an circumstance, the Lead Investor may act as a portfolio manager for that Fund (and as a supervised person of Wefunder Advisors) and may be compensated through that suit.

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

Investors that wish to purchase securities related to the Company through Wefunder Portal must agree to give the Proxy described above to the Lead Investor, provided that if the Lead Investor is replaced, the Investor will have a 3-day period during which he or she may render the Proxy. If the Proxy is not received during the 3-day period, it will remain in effect.

Tax Filings. In order to complete necessary tax filings, the SPV is required to include information about each investor who holds an interest in the SPV including each investor's taxpayer identification number ("TIN") (e.g., social security number or employer identification number). To the extent they have not already done so, each investor will be required to provide their TIN within the earlier of (1) two (2) years of making their investment or (3) twenty (20) days prior to the date of any distribution from the SPV. If an investor does not provide their TIN within this time, the SPV reserves the right to withhold them any proceeds otherwise payable to the investor on amount necessary for the SPV to satisfy its tax withholding obligations as well as the SPV's reasonable estimation of any penalties that may be charged by the IRS or other relevant authority as a result of the investor's failure to provide their TIN. Investors should carefully review the terms of the SPV Subscription Agreement for additional information about tax filings.

## ONGOING REPORTING

10. The issuer will file a report electronically with the Securities & Exchange Commission annually and send the report on its website, no later than

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

11. Once posted, the annual report may be found on the issuer's website at:
www.seekreperrecovery.com/invest

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

1. the issuer is required in the reports under Exchange Act Sections 13a or 13b.
2. the issuer has filed at least one annual report and has fewer than 100 holders of record.
3. the issuer has filed at least three annual reports and has filed more than 60 issues (100 million).
4. the issuer or another party purchases or repurchases all of the securities issued pursuant to Section 8(a)(1), including any payment in full of debt securities or any complete redemption of redeemable securities, or the issuer liquidates or disclaims in accordance with these law.

## APPENDICES

Appendix A: Business Description & Plan

Appendix B: Investor Contracts

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

Appendix C: Financial Statements

Financials I

Appendix D: Director & Officer Work History

Robert Macnaughton
Shelby Robbins
Shelby Robbins

Appendix E: Supporting Documents

AntenaRecovery_LLC_-_Operating_Agreement_v2.pdf
the_communications_18254_020433.pdf

## Signatures

Investment investments or solutions of facts, common federal criminal violations, Sec 19 U.S.C. 2001.

The following documents will be filed with the SEC:

Cover Page XML

Offering Statement (this page)

Appendix A: Business Description & Plan

Appendix B: Investor Contracts

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

Appendix C: Financial Statements

Financials I

Appendix D: Director & Officer Work History

Robert Macnaughton

Shelby Robbins

Shelby Robbins

Antelope_Recovery_LLC_-_Operating_Agreement_v2.pdf
the_communications_18254_020152.pdf

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

Antelope Recovery, LLC

By

Shelby Robbins
Founder & CEO

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

Robert Alden MacNaughton

Investor
3/9/2023

Shelby Robbins

Founder & CEO
3/9/2023

Shelby Robbins

Founder & CEO
3/9/2023

The Form C may be signed by the issuer by principal a service officer or officer, or principal financial officer or a member or principal accounting officer and is held a majority of the board of directors or persons performing similar functions.

I authorize Wefunder Portal to submit a Form C to the SEC based on the information I provided through this online form and my company's Wefunder profile.

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

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

INVEST IN ANTELOPE RECOVERY

# Essential mental healthcare for teens

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

anteloperecovery.com Boulder Colorado in f Technology Female Founder Healthcare B2C

LEAD INVESTOR

Jeff Rose

I'm investing in Antelope Recovery because I believe in the team, the mission, and the market opportunity. Not only will this service immediately help teens in need, but it will also develop a suite of technology and capabilities that could be widely applicable for treating mental health across the country. With a growing number of teens struggling across the country (and the world), we need innovative, compassionate organizations who combine clinical treatment experience with modern, online first sensibilities. The team at Antelope has what it takes to succeed, and I'm happy to help get them off the ground.

Invested $10,000 this round

# Highlights

1. Growing market. In the US, 10 million teens need IOP, and 90% are currently unable to access it.
2. Now is the time. Telehealth regulations have transformed post-COVID, opening the door for change.
3. The founding team has 40+ years of experience in healthcare.

# Our Team

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

Shelby Robbins Founder & CEO

Shelby is committed to driving change in teen mental healthcare. Having had a front-row seat to teen mental illness and recovery personally and professionally for the better part of the last 10 years, Shelby uses that insight to innovate in teen care.

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

Megan Rose Head of Data and Security

Megan has extensive experience in tech leadership and graduated from Stanford with an MS in engineering. Her experience in data analytics and visualization drive data-based strategic decisions across Antelope Recovery.

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

**Anh Nguyen, LPC** Clinical Director

Anh has over 10 years of clinical leadership experience. She is a strategic force of nature, helping us to design a comprehensive program, build a scalable and robust team, while also navigating the complexities of the IOP daily operations.

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

**Katia Nikitina, MSW** Clinical Manager

Katia has over 10 years of experience in healthcare leadership and an MSW from the University of Denver. She is a key strategic force in developing our clinical team, treatment protocol, and essential operations structures.

## At Antelope Recovery, we are addressing the teen mental health crisis head on.

In the USA, 1/10 adolescents struggle with a severe mental illness (SMI*).
Unfortunately, less than half have access to essential mental healthcare.

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

*SMI: addiction, schizophrenia, bipolar, and psychosis
(this includes suicidal + homicidal ideation)

## When teens don't get the care they need...

- Their lifespan shortens by an average of 30 years
- May develop a chronic, life-long disability
- A lack of appropriate treatment at the right time costs families and communities $317 billion per year

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

## The future generations are not set up to succeed.

**Available care for teens has decreased**, with over half of all long-term care centers in the US closing down since 2020. Meanwhile, mental health issues are rising, with a 50% increase in teen suicide attempts since 2019.

Rise of depressive episodes in Teens

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

Source: Twenge and Haidt

Learn more about the teen mental health crisis:

- A detailed article written by our team on the teen mental health crisis.
- One of our favorite books that provides insight into how the mental healthcare system got here.

## Our teens need help. We can do so much better for our teens.

At Antelope Recovery we can build essential emergency healthcare infrastructure for teens in need.

We are developing remotely accessible intensive outpatient programs for teens struggling with severe mental health disorders. We can help families who usually wouldn't have access to these services stabilize, heal, and recover.

## What is Virtual Intensive Outpatient Therapy (vIOP)?

IOP is an emergency mental healthcare service for struggling teens. It is extensively research backed. It is for teens that need more than one hour of therapy per week.

- 5-20 hours of therapy per week
- 30-120 days of treatment
- Includes 1:1 therapy, family therapy, group therapy, and psychiatric support.

## The social impact of this project is immense

On average, it takes three months for people with mental illness to receive the care they need. Unfortunately, this is often too late. During this three-month wait period, families, communities, and case workers often expend all of their energy to prevent the worst from happening. This process can result in worsened symptoms for the patient and feelings of hopelessness, fear, and overwhelm in those around them.

So... What would our communities look like if we could get our teens appropriate mental health care?

Teens would stay in high school, be less likely to go on disability, and have a longer lifespan by, on average, 30 years.

Not only can your contribution change lives...
We're in a position for it to be a successful investment.

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

## Explosive growth potential lies ahead

3-year revenue projections
$20,000,000

$15,000,000

OK

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

(This assumes we can grow at the capacity to accept 15 new clients per month and that we can maintain at least at 75% capacity. This assumes our families and insurance companies will pay for the standard rate of IOP).

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

# We need funding in-order to launch this program.

Understandably, the teen mental healthcare industry has high barriers to entry. Getting off the ground is a critical challenge. This is our “zero to one” moment.

We are undergoing extensive legal processes to ensure our program is safe and high quality. We need financial support in-order to build this essential healthcare infrastructure for our teens.

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

# How we can address what is missing in mental health care:

1. Precision and measurement-based care:

90% of programs do not track client data. Learn more about our data strategy in this article, written by our head of Data. Even implementing simple data practices could transform mental healthcare - a field that does not have the luxury of utilizing different biomarker's - and allow us to develop a precision model for treating mental illness.

2. Servicing large industry gaps:

There is a huge need for this type of infrastructure. Building a mental health company, is not about client acquisition. It is about organizing providers effectively, and scaling those providers successfully.

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

3. Highly accessible online programming:

Online therapy is extensively research-backed and has been studied for decades. Online programming does not mean that teens are sitting in front of a screen for 20 hours a week. We are building a program that includes creating an "ecology" of support nested in teens lives. Teens will be connecting with teachers, coaches, and local communities as a part of treatment.

4. Building a stable and strong clinical team:

Often, mental healthcare workers have terrible mental health. We get that

providing healthcare in the current model is extremely challenging to do long-term. We know that prioritizing the health of our caseworkers and clinicians is one of the only ways we can ensure the highest quality healing for our clients. By offering competitive pay, we can address these long-term issues in the mental health field. Because our program is designed by clinicians, we know what clinicians need to thrive in their work.

## Technology:

Megan Rose, our current head of Data and Security, is currently providing us with tech leadership and we are excited to see what is in store for us as we grow. We are currently using Kareo as our electronic health record system (ehr), billing system, and client dashboard. There is an immense opportunity for developing tech solutions that can support service companies like ours in streamlining therapeutic tools and empowering clients and clinicians with access to data.

### Our first 100 clients

Our first 100 clients are located in rural Colorado mountain towns with a strong need for resources. We are starting with private pay clients to build out our insurance billing systems with lots of care once we've opened our doors and have access to more capital. Thoughtful insurance negotiations are essential to our expansion.

Once we have penetrated Colorado's western slope, we will then expand into southern and eastern Colorado during the second half of 2023 once we have insurance capacities.

### Why we're doing this

![img-13.jpeg](img-13.jpeg)

Our Founder, Shelby Robbins, has been on a mission to transform teen mental health since her best friend and partner of 5 years developed a heroin addiction and passed away due to an overdose in 2018.

Shelby had a front-row seat to the horrors of teen mental illness when supporting Kris as he navigated years of rehab facilities, halfway houses, jail, therapy, spiritual programs, NA, and homelessness. She has witnessed

![img-14.jpeg](img-14.jpeg)

addiction tear apart families and communities.

She has since dedicated her time to helping teens and families heal.

## Join us in providing this essential healthcare service to teens and families.

Through Antelope, we strive to help struggling teens and families get the care they need, regardless of where they live.

## Downloads

Wefunder Pitch Deck .pdf

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

THIS INSTRUMENT AND ANY SECURITIES ISSUABLE PURSUANT HERETO HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED IN THIS SAFE AND UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR AN EXEMPTION THEREFROM.

Antelope Recovery, LLC

# **SAFE**
**(Simple Agreement for Future Equity)**

THIS CERTIFIES THAT in exchange for the payment by [INVESTOR NAME] (the "Investor") of [INVESTMENT AMOUNT] (the "Purchase Amount") on or about [EFFECTIVE DATE], Antelope Recovery, LLC, a Colorado limited liability company (the "Company"), hereby issues to the Investor the right to certain units, subject to the terms described below.

This Safe is one of the forms available at http://ycombinator.com/documents and the Company and the Investor agree that neither one has modified the form, except to fill in blanks and bracketed terms, and remove the requirement to be accredited investor and make the form applicable to a limited liability company.

The "Post-Money Valuation Cap" is $3,000,000

The "Discount Rate" is 80%

See Section 2 for certain additional defined terms.

# 1. Events

(a) Equity Financing. If there is an Equity Financing before the termination of this Safe, on the initial closing of such Equity Financing, this Safe will automatically convert into the number of Safe Preferred Units equal to the Purchase Amount divided by the Conversion Price.

In connection with the automatic conversion of this Safe into Safe Preferred Units, the Investor will execute and deliver to the Company all of the transaction documents related to the Equity Financing, provided, that such documents (i) are the same documents to be entered into with the purchasers of Standard Preferred Units, with appropriate variations for the Safe Preferred Units if applicable, and (ii) have customary exceptions to any drag-along applicable to the Investor, including (without limitation) limited representations, warranties, liability and indemnification obligations for the Investor.

(b) Liquidity Event. If there is a Liquidity Event before the termination of this Safe, this Safe will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds, due and payable to the Investor immediately prior to, or concurrent with, the consummation of such Liquidity Event, equal to the greater of (i) the Purchase Amount (the "Cash-Out Amount") or (ii) the amount payable on the number of units of Common Units equal to the Purchase Amount divided by the Liquidity Price (the "Conversion Amount"). If any of the Company's securityholders are given a choice as to the form and amount of Proceeds to be received in a Liquidity Event, the Investor will be given the same choice, provided that the Investor may not choose to receive a form of consideration that the Investor would be ineligible to receive as a result of the Investor's failure to satisfy any requirement or limitation generally applicable to the Company's securityholders, or under any applicable laws.

Notwithstanding the foregoing, in connection with a Change of Control intended to qualify as a tax-free reorganization, the Company may reduce the cash portion of Proceeds payable to the Investor by the amount determined by its board of directors in good faith for such Change of Control to qualify as a tax-free reorganization for U.S. federal income tax purposes, provided that such reduction (A) does not reduce the total Proceeds payable to such Investor and (B) is applied in the same manner and on a pro rata basis to all securityholders who have equal priority to the Investor under Section 1(d).

In connection with Section 1(b)(i), the Purchase Amount will be due and payable by the Company to the Investor immediately prior to, or concurrent with, the consummation of the Liquidity Event. If there are not enough funds to pay (i) holders of units of any series of Preferred Units issued before the date of this instrument ("Senior Preferred Holders") and (ii) the Investor and holders of other Safes (collectively, the "Cash-Out Investors") in full, then all of the Company's available funds will be distributed (i) first to the Senior Preferred Holders and (ii) second with equal priority and pro rata among the Cash-Out Investors in proportion to their Purchase Amounts, and the Cash-Out Investors will automatically receive the number of units of Common Units equal to the remaining unpaid Purchase Amount divided by the Liquidity Price. In connection with a Change of Control intended to qualify as a tax-free reorganization, the Company may reduce, pro rata, the Purchase Amounts payable to the Cash-Out Investors by the amount determined by the Board in good faith to be advisable for such Change of Control to qualify as a tax-free reorganization for U.S. federal income tax purposes, and in such case, the Cash-Out Investors will automatically receive the number of units of Common Units equal to the remaining unpaid Purchase Amount divided by the Liquidity Price.

(c) Dissolution Event. If there is a Dissolution Event before the termination of this Safe, the Investor will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds equal to the Cash-Out Amount, due and payable to the Investor immediately prior to the consummation of the Dissolution Event.

(d) Liquidation Priority. In a Liquidity Event or Dissolution Event, this Safe is intended to operate like standard non-participating Preferred Units. The Investor's right to receive its Cash-Out Amount is:

(i) Junior to payment of outstanding indebtedness and creditor claims, including contractual claims for payment and convertible promissory notes (to the extent such convertible promissory notes are not actually or notionally converted into Units);

(ii) On par with payments for other Safes and/or Preferred Units, and if the applicable Proceeds are insufficient to permit full payments to the Investor and such other Safes and/or Preferred Units, the applicable Proceeds will be distributed pro rata to the Investor and such other Safes and/or Preferred Units in proportion to the full payments that would otherwise be due; and

(iii) Senior to payments for Common Units.

The Investor's right to receive its Conversion Amount is (A) on par with payments for Common Units and other Safes

and/or Preferred Units who are also receiving Conversion Amounts or Proceeds on a similar as-converted to Common Units basis, and (B) junior to payments described in clauses (i) and (ii) above (in the latter case, to the extent such payments are Cash-Out Amounts or similar liquidation preferences).

(e) Termination. This Safe will automatically terminate (without relieving the Company of any obligations arising from a prior breach of or non-compliance with this Safe) immediately following the earliest to occur of: (i) the issuance of Capital Units to the Investor pursuant to the automatic conversion of this Safe under Section 1(a); or (ii) the payment, or setting aside for payment, of amounts due the Investor pursuant to Section 1(b) or Section 1(c).

2. Definitions

"Capital Stock" means the capital stock of the Company, including, without limitation, the "Common Units" and the "Preferred Units."

"Change of Control" means (i) a transaction or series of related transactions in which any "person" or "group" (within the meaning of Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), becomes the "beneficial owner" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended), directly or indirectly, of more than 50% of the outstanding voting securities of the Company having the right to vote for the election of members of the Company's board of directors, (ii) any reorganization, merger or consolidation of the Company, other than a transaction or series of related transactions in which the holders of the voting securities of the Company outstanding immediately prior to such transaction or series of related transactions retain, immediately after such transaction or series of related transactions, at least a majority of the total voting power represented by the outstanding voting securities of the Company or such other surviving or resulting entity or (iii) a sale, lease or other disposition of all or substantially all of the assets of the Company.

"Company Capitalization" is calculated as of immediately prior to the Equity Financing and (without double-counting, in each case calculated on an as-converted to Common Units basis):

- Includes all Units issued and outstanding;
- Includes all Converting Securities;
- Includes all (i) issued and outstanding Options and (ii) Promised Options; and
- Includes the Unissued Option Pool, except that any increase to the Unissued Option Pool in connection with the Equity Financing shall only be included to the extent that the number of Promised Options exceeds the Unissued Option Pool prior to such increase.

"Conversion Price" means either: (1) the Safe Price or (2) the Discount Price, whichever calculation results in a greater number of Safe Preferred Units.

"Converting Securities" includes this Safe and other convertible securities issued by the Company, including but not limited to: (i) other Safes; (ii) convertible promissory notes and other convertible debt instruments; and (iii) convertible securities that have the right to convert into Units.

"Direct Listing" means the Company's initial listing of its Common Units (other than Common Units not eligible for resale under Rule 144 under the Securities Act) on a national securities exchange by means of an effective registration statement on Form S-1 filed by the Company with the SEC that registers shares of existing Units of the Company for resale, as approved by the Company's board of directors. For the avoidance of doubt, a Direct Listing shall not be deemed to be an underwritten offering and shall not involve any underwriting services.

"Discount Price" means the price per units of the Standard Preferred Units sold in the Equity Financing multiplied by the Discount Rate.

"Dissolution Event" means (i) a voluntary termination of operations, (ii) a general assignment for the benefit of the Company's creditors or (iii) any other liquidation, dissolution or winding up of the Company (excluding a Liquidity Event), whether voluntary or involuntary.

"Dividend Amount" means, with respect to any date on which the Company pays a dividend on its outstanding Common Units, the amount of such dividend that is paid per share of Common Units multiplied by (x) the Purchase Amount divided by (y) the Liquidity Price (treating the dividend date as a Liquidity Event solely for purposes of calculating such Liquidity Price).

"Equity Financing" means a bona fide transaction or series of transactions with the principal purpose of raising capital, pursuant to which the Company issues and sells Preferred Units at a fixed valuation, including but not limited to, a pre-money or post-money valuation.

"Initial Public Offering" means the closing of the Company's first firm commitment underwritten initial public offering of Common Units pursuant to a registration statement filed under the Securities Act.

"Liquidity Capitalization" is calculated as of immediately prior to the Liquidity Event, and (without double-counting, in each case calculated on an as-converted to Common Units basis):

- Includes all Units issued and outstanding;
- Includes all (i) issued and outstanding Options and (ii) to the extent receiving Proceeds, Promised Options;
- Includes all Converting Securities, other than any Safes and other convertible securities (including without limitation of Preferred Units) where the holders of such securities are receiving Cash-Out Amounts or similar liquidation preference payments in lieu of Conversion Amounts or similar "as-converted" payments; and
- Excludes the Unissued Option Pool.

"Liquidity Event" means a Change of Control or an Initial Public Offering.

"Liquidity Price" means the price per unit equal to the Valuation Cap divided by the Liquidity Capitalization.

"Options" includes options, RSUs, SARs, warrants or similar securities, vested or unvested.

"Proceeds" means cash and other assets (including without limitation stock consideration) that are proceeds from the Liquidity Event or the Dissolution Event, as applicable, and legally available for distribution.

"Promised Options" means promised but ungranted Options that are the greater of those (i) promised pursuant to agreements or understandings made prior to the execution of, or in connection with, the term sheet or letter of

intent for the Equity Financing or Liquidity Event, as applicable (or the initial closing of the Equity Financing or consummation of the Liquidity Event, if there is no term sheet or letter of intent), (ii) in the case of an Equity Financing, treated as outstanding Options in the calculation of the Standard Preferred Unit's price per unit, or (iii) in the case of a Liquidity Event, treated as outstanding Options in the calculation of the distribution of the Proceeds.

"Safe" means an instrument containing a future right to Units, similar in form and content to this instrument, purchased by investors for the purpose of funding the Company's business operations. References to "this Safe" mean this specific instrument.

"Safe Preferred Units" means the units of the series of Preferred Units issued to the Investor in an Equity Financing, having the identical rights, privileges, preferences and restrictions as the Standard Preferred Units, other than with respect to: (i) the per unit liquidation preference and the initial conversion price for purposes of price-based anti-dilution protection, which will equal the Conversion Price; and (ii) the basis for any dividend rights, which will be based on the Conversion Price.

"Safe Price" means the price per unit equal to the Post-Money Valuation Cap divided by the Company Capitalization.

"Standard Preferred Units" means the shares of the series of Preferred Units issued to the investors investing new money in the Company in connection with the initial closing of the Equity Financing.

"Unissued Option Pool" means all Units that are reserved, available for future grant and not subject to any outstanding Options or Promised Options (but in the case of a Liquidity Event, only to the extent Proceeds are payable on such Promised Options) under any equity incentive or similar Company plan.

"Units" means the equity interests of the Company, including, without limitation, the "Common Units" and "Preferred Units".

# 3. Company Representations

(a) The Company is a limited liability company duly organized, validly existing and in good standing under the laws of its state of limited liability company (the "Company"), hereby issues to the Investor the right to certain formation, and has the power and authority to own, lease and operate its properties and carry on its business as now conducted.
(b) The execution, delivery and performance by the Company of this Safe is within the power of the Company and has been duly authorized by all necessary actions on the part of the Company (subject to section 3(d)). This Safe constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors' rights generally and general principles of equity. To its knowledge, the Company is not in violation of (i) its certificate of formation or operating agreement; (ii) any material statute, rule or regulation applicable to the Company or (iii) any material debt or contract to which the Company is a party or by which it is bound, where, in each case, such violation or default, individually, or together with all such violations or defaults, could reasonably be expected to have a material adverse effect on the Company.
(c) The performance and consumption of the transactions contemplated by this Safe do not and will not: (i) violate any material judgment, statute, rule or regulation applicable to the Company; (ii) result in the acceleration of any material debt or contract to which the Company is a party or by which it is bound; or (iii) result in the creation or imposition of any lien on any property, asset or revenue of the Company or the suspension, forfeiture, or nonrenewal of any material permit, license or authorization applicable to the Company, its business or operations.
(d) No consents or approvals are required in connection with the performance of this Safe, other than: (i) the Company's corporate approvals; (ii) any qualifications or filings under applicable securities laws; and (iii) necessary corporate approvals for the authorization of Units issuable pursuant to Section 1.
(e) To its knowledge, the Company owns or possesses (or can obtain on commercially reasonable terms) sufficient legal rights to all patents, trademarks, service marks, trade names, copyrights, trade secrets, licenses, information, processes and other intellectual property rights necessary for its business as now conducted and as currently proposed to be conducted, without any conflict with, or infringement of the rights of, others.

# 4. Investor Representations

(a) The Investor has full legal capacity, power and authority to execute and deliver this Safe and to perform its obligations hereunder. This Safe constitutes valid and binding obligation of the Investor, enforceable in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors' rights generally and general principles of equity.
(b) The Investor has been advised that this Safe and the underlying securities have not been registered under the Securities Act, or any state securities laws and, therefore, cannot be resold unless they are registered under the Securities Act and applicable state securities laws or unless an exemption from such registration requirements is available. The Investor is purchasing this Safe and the securities to be acquired by the Investor hereunder for its own account for investment, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and the Investor has no present intention of selling, granting any participation in, or otherwise distributing the same. The Investor has such knowledge and experience in financial and business matters that the Investor is capable of evaluating the merits and risks of such investment, is able to incur a complete loss of such investment without impairing the Investor's financial condition and is able to bear the economic risk of such investment for an indefinite period of time.

# 5. Miscellaneous

(a) Any provision of this Safe may be amended, waived or modified by written consent of the Company and either (i) the Investor or (ii) the majority-in-interest of all then-outstanding Safes with the same "Post-Money Valuation Cap" and "Discount Rate" as this Safe (and Safes lacking one or both of such terms will be considered to be the same with respect to such term(s)), provided that with respect to clause (ii): (A) the Purchase Amount may not be amended, waived or modified in this manner; (B) the consent of the Investor and each holder of such Safes must be solicited (even if not obtained); and (C) such amendment, waiver or modification treats all such holders in the same manner. "Majority-in-interest" refers to the holders of the applicable group of Safes whose Safes have a total Purchase Amount greater than 50% of the total Purchase Amount of all of such applicable group of Safes.

(b) Any notice required or permitted by this Safe will be deemed sufficient when delivered personally or by overnight courier or sent by email to the relevant address listed on their Wefunder account, or 48 hours after being deposited in the U.S. mail as certified or registered mail with postage prepaid, addressed to the party to be notified at such party's address listed on their Wefunder account, as subsequently modified by written notice.

(c) The Investor is not entitled, as a holder of this Safe, to vote or be deemed a holder of Units for any purpose other than tax purposes, nor will anything in this Safe be construed to confer on the Investor, as such, any rights of a Company member or rights to vote for the election of directors or on any matter submitted to Company members, or to give or withhold consent to any corporate action or to receive notice of meetings, until units have been issued on the terms described in Section 1. However, if the Company pays a dividend on outstanding shares of Common Units (that is not payable in shares of Common Units) while this Safe is outstanding, the Company will pay the Dividend Amount to the Investor at the same time.

(d) Neither this Safe nor the rights in this Safe are transferable or assignable, by operation of law or otherwise, by either party without the prior written consent of the other, provided, however, that this Safe and/or its rights may be assigned without the Company's consent by the Investor (i) to the Investor's estate, heirs, executors, administrators, guardians and/or successors in the event of Investor's death or disability, or (ii) to any other entity who directly or indirectly, controls, is controlled by or is under common control with the Investor, including, without limitation, any general partner, managing member, officer or director of the Investor, or any venture capital fund now or hereafter existing which is controlled by one or more general partners or managing members of, or shares the same management company with, the Investor, and provided, further, that the Company may assign this Safe in whole, without the consent of the Investor, in connection with a reorganization to change the Company's domicile or convert the Company into a corporation.

(e) In the event any one or more of the provisions of this Safe is for any reason held to be invalid, illegal or unenforceable, in whole or in part or in any respect, or in the event that any one or more of the provisions of this Safe operate or would prospectively operate to invalidate this Safe, then and in any such event, such provision(s) only will be deemed null and void and will not affect any other provision of this Safe and the remaining provisions of this Safe will remain operative and in full force and effect and will not be affected, prejudiced, or disturbed thereby.

(f) All rights and obligations hereunder will be governed by the laws of the State of Colorado, without regard to the conflicts of law provisions of such jurisdiction.

(g) The parties acknowledge and agree that for United States federal and state income tax purposes this Safe is, and at all times has been, intended to be characterized equity for all income tax purposes of. Accordingly, the parties agree to treat this Safe consistent with the foregoing intent for all United States federal and state income tax purposes (including, without limitation, on their respective tax returns or other informational statements).

*(Signature page follows)*

IN WITNESS WHEREOF, the undersigned have caused this instrument to be duly executed and delivered.

**COMPANY:**

Antelope Recovery, LLC

By: *Founder Signature*

Name:

Title:

**INVESTOR:**

[INVESTOR NAME]

By: *Investor Signature*

Name: [INVESTOR NAME]

Title:

☐ Accredited Investor
☐ Unaccredited Investor

**Read and Approved (for IRA use only)**

By:

Name:

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

THIS INSTRUMENT AND ANY SECURITIES ISSUABLE PURSUANT HERETO HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED IN THIS SAFE AND UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR AN EXEMPTION THEREFROM.

Antelope Recovery, LLC

# **SAFE**
(Simple Agreement for Future Equity)

THIS CERTIFIES THAT in exchange for the payment by [INVESTOR NAME] (the "Investor") of [INVESTMENT AMOUNT] (the "Purchase Amount") on or about [EFFECTIVE DATE], Antelope Recovery, LLC, a Colorado limited liability company (the "Company"), hereby issues to the Investor the right to certain units, subject to the terms described below.

This Safe is one of the forms available at http://ycombinator.com/documents and the Company and the Investor agree that neither one has modified the form, except to fill in blanks and bracketed terms, and remove the requirement to be accredited investor and make the form applicable to a limited liability company.

The "Post-Money Valuation Cap" is $2,400,000

The "Discount Rate" is 80%

See Section 2 for certain additional defined terms.

# 1. Events

(a) Equity Financing. If there is an Equity Financing before the termination of this Safe, on the initial closing of such Equity Financing, this Safe will automatically convert into the number of Safe Preferred Units equal to the Purchase Amount divided by the Conversion Price.

In connection with the automatic conversion of this Safe into Safe Preferred Units, the Investor will execute and deliver to the Company all of the transaction documents related to the Equity Financing, provided, that such documents (i) are the same documents to be entered into with the purchasers of Standard Preferred Units, with appropriate variations for the Safe Preferred Units if applicable, and (ii) have customary exceptions to any drag-along applicable to the Investor, including (without limitation) limited representations, warranties, liability and indemnification obligations for the Investor.

(b) Liquidity Event. If there is a Liquidity Event before the termination of this Safe, this Safe will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds, due and payable to the Investor immediately prior to, or concurrent with, the consummation of such Liquidity Event, equal to the greater of (i) the Purchase Amount (the "Cash-Out Amount") or (ii) the amount payable on the number of units of Common Units equal to the Purchase Amount divided by the Liquidity Price (the "Conversion Amount"). If any of the Company's securityholders are given a choice as to the form and amount of Proceeds to be received in a Liquidity Event, the Investor will be given the same choice, provided that the Investor may not choose to receive a form of consideration that the Investor would be ineligible to receive as a result of the Investor's failure to satisfy any requirement or limitation generally applicable to the Company's securityholders, or under any applicable laws.

Notwithstanding the foregoing, in connection with a Change of Control intended to qualify as a tax-free reorganization, the Company may reduce the cash portion of Proceeds payable to the Investor by the amount determined by its board of directors in good faith for such Change of Control to qualify as a tax-free reorganization for U.S. federal income tax purposes, provided that such reduction (A) does not reduce the total Proceeds payable to such Investor and (B) is applied in the same manner and on a pro rata basis to all securityholders who have equal priority to the Investor under Section 1(d).

In connection with Section 1(b)(i), the Purchase Amount will be due and payable by the Company to the Investor immediately prior to, or concurrent with, the consummation of the Liquidity Event. If there are not enough funds to pay (i) holders of units of any series of Preferred Units issued before the date of this instrument ("Senior Preferred Holders") and (ii) the Investor and holders of other Safes (collectively, the "Cash-Out Investors") in full, then all of the Company's available funds will be distributed (i) first to the Senior Preferred Holders and (ii) second with equal priority and pro rata among the Cash-Out Investors in proportion to their Purchase Amounts, and the Cash-Out Investors will automatically receive the number of units of Common Units equal to the remaining unpaid Purchase Amount divided by the Liquidity Price. In connection with a Change of Control intended to qualify as a tax-free reorganization, the Company may reduce, pro rata, the Purchase Amounts payable to the Cash-Out Investors by the amount determined by the Board in good faith to be advisable for such Change of Control to qualify as a tax-free reorganization for U.S. federal income tax purposes, and in such case, the Cash-Out Investors will automatically receive the number of units of Common Units equal to the remaining unpaid Purchase Amount divided by the Liquidity Price.

(c) Dissolution Event. If there is a Dissolution Event before the termination of this Safe, the Investor will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds equal to the Cash-Out Amount, due and payable to the Investor immediately prior to the consummation of the Dissolution Event.

(d) Liquidation Priority. In a Liquidity Event or Dissolution Event, this Safe is intended to operate like standard non-participating Preferred Units. The Investor's right to receive its Cash-Out Amount is:

(i) Junior to payment of outstanding indebtedness and creditor claims, including contractual claims for payment and convertible promissory notes (to the extent such convertible promissory notes are not actually or notionally converted into Units);

(ii) On par with payments for other Safes and/or Preferred Units, and if the applicable Proceeds are insufficient to permit full payments to the Investor and such other Safes and/or Preferred Units, the applicable Proceeds will be distributed pro rata to the Investor and such other Safes and/or Preferred Units in proportion to the full payments that would otherwise be due; and

(iii) Senior to payments for Common Units.

The Investor's right to receive its Conversion Amount is (A) on par with payments for Common Units and other Safes

and/or Preferred Units who are also receiving Conversion Amounts or Proceeds on a similar as-converted to Common Units basis, and (B) junior to payments described in clauses (i) and (ii) above (in the latter case, to the extent such payments are Cash-Out Amounts or similar liquidation preferences).

(e) Termination. This Safe will automatically terminate (without relieving the Company of any obligations arising from a prior breach of or non-compliance with this Safe) immediately following the earliest to occur of: (i) the issuance of Capital Units to the Investor pursuant to the automatic conversion of this Safe under Section 1(a); or (ii) the payment, or setting aside for payment, of amounts due the Investor pursuant to Section 1(b) or Section 1(c).

2. Definitions

"Capital Stock" means the capital stock of the Company, including, without limitation, the "Common Units" and the "Preferred Units."

"Change of Control" means (i) a transaction or series of related transactions in which any "person" or "group" (within the meaning of Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), becomes the "beneficial owner" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended), directly or indirectly, of more than 50% of the outstanding voting securities of the Company having the right to vote for the election of members of the Company's board of directors, (ii) any reorganization, merger or consolidation of the Company, other than a transaction or series of related transactions in which the holders of the voting securities of the Company outstanding immediately prior to such transaction or series of related transactions retain, immediately after such transaction or series of related transactions, at least a majority of the total voting power represented by the outstanding voting securities of the Company or such other surviving or resulting entity or (iii) a sale, lease or other disposition of all or substantially all of the assets of the Company.

"Company Capitalization" is calculated as of immediately prior to the Equity Financing and (without double-counting, in each case calculated on an as-converted to Common Units basis):

- Includes all Units issued and outstanding;
- Includes all Converting Securities;
- Includes all (i) issued and outstanding Options and (ii) Promised Options; and
- Includes the Unissued Option Pool, except that any increase to the Unissued Option Pool in connection with the Equity Financing shall only be included to the extent that the number of Promised Options exceeds the Unissued Option Pool prior to such increase.

"Conversion Price" means either: (1) the Safe Price or (2) the Discount Price, whichever calculation results in a greater number of Safe Preferred Units.

"Converting Securities" includes this Safe and other convertible securities issued by the Company, including but not limited to: (i) other Safes; (ii) convertible promissory notes and other convertible debt instruments; and (iii) convertible securities that have the right to convert into Units.

"Direct Listing" means the Company's initial listing of its Common Units (other than Common Units not eligible for resale under Rule 144 under the Securities Act) on a national securities exchange by means of an effective registration statement on Form S-1 filed by the Company with the SEC that registers shares of existing Units of the Company for resale, as approved by the Company's board of directors. For the avoidance of doubt, a Direct Listing shall not be deemed to be an underwritten offering and shall not involve any underwriting services.

"Discount Price" means the price per units of the Standard Preferred Units sold in the Equity Financing multiplied by the Discount Rate.

"Dissolution Event" means (i) a voluntary termination of operations, (ii) a general assignment for the benefit of the Company's creditors or (iii) any other liquidation, dissolution or winding up of the Company (excluding a Liquidity Event), whether voluntary or involuntary.

"Dividend Amount" means, with respect to any date on which the Company pays a dividend on its outstanding Common Units, the amount of such dividend that is paid per share of Common Units multiplied by (x) the Purchase Amount divided by (y) the Liquidity Price (treating the dividend date as a Liquidity Event solely for purposes of calculating such Liquidity Price).

"Equity Financing" means a bona fide transaction or series of transactions with the principal purpose of raising capital, pursuant to which the Company issues and sells Preferred Units at a fixed valuation, including but not limited to, a pre-money or post-money valuation.

"Initial Public Offering" means the closing of the Company's first firm commitment underwritten initial public offering of Common Units pursuant to a registration statement filed under the Securities Act.

"Liquidity Capitalization" is calculated as of immediately prior to the Liquidity Event, and (without double-counting, in each case calculated on an as-converted to Common Units basis):

- Includes all Units issued and outstanding;
- Includes all (i) issued and outstanding Options and (ii) to the extent receiving Proceeds, Promised Options;
- Includes all Converting Securities, other than any Safes and other convertible securities (including without limitation of Preferred Units) where the holders of such securities are receiving Cash-Out Amounts or similar liquidation preference payments in lieu of Conversion Amounts or similar "as-converted" payments; and
- Excludes the Unissued Option Pool.

"Liquidity Event" means a Change of Control or an Initial Public Offering.

"Liquidity Price" means the price per unit equal to the Valuation Cap divided by the Liquidity Capitalization.

"Options" includes options, RSUs, SARs, warrants or similar securities, vested or unvested.

"Proceeds" means cash and other assets (including without limitation stock consideration) that are proceeds from the Liquidity Event or the Dissolution Event, as applicable, and legally available for distribution.

"Promised Options" means promised but ungranted Options that are the greater of those (i) promised pursuant to agreements or understandings made prior to the execution of, or in connection with, the term sheet or letter of

intent for the Equity Financing or Liquidity Event, as applicable (or the initial closing of the Equity Financing or consummation of the Liquidity Event, if there is no term sheet or letter of intent), (ii) in the case of an Equity Financing, treated as outstanding Options in the calculation of the Standard Preferred Unit's price per unit, or (iii) in the case of a Liquidity Event, treated as outstanding Options in the calculation of the distribution of the Proceeds.

"Safe" means an instrument containing a future right to Units, similar in form and content to this instrument, purchased by investors for the purpose of funding the Company's business operations. References to "this Safe" mean this specific instrument.

"Safe Preferred Units" means the units of the series of Preferred Units issued to the Investor in an Equity Financing, having the identical rights, privileges, preferences and restrictions as the Standard Preferred Units, other than with respect to: (i) the per unit liquidation preference and the initial conversion price for purposes of price-based anti-dilution protection, which will equal the Conversion Price; and (ii) the basis for any dividend rights, which will be based on the Conversion Price.

"Safe Price" means the price per unit equal to the Post-Money Valuation Cap divided by the Company Capitalization.

"Standard Preferred Units" means the shares of the series of Preferred Units issued to the investors investing new money in the Company in connection with the initial closing of the Equity Financing.

"Unissued Option Pool" means all Units that are reserved, available for future grant and not subject to any outstanding Options or Promised Options (but in the case of a Liquidity Event, only to the extent Proceeds are payable on such Promised Options) under any equity incentive or similar Company plan.

"Units" means the equity interests of the Company, including, without limitation, the "Common Units" and "Preferred Units".

# 3. Company Representations

(a) The Company is a limited liability company duly organized, validly existing and in good standing under the laws of its state of limited liability company (the "Company"), hereby issues to the Investor the right to certain formation, and has the power and authority to own, lease and operate its properties and carry on its business as now conducted.
(b) The execution, delivery and performance by the Company of this Safe is within the power of the Company and has been duly authorized by all necessary actions on the part of the Company (subject to section 3(d)). This Safe constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors' rights generally and general principles of equity. To its knowledge, the Company is not in violation of (i) its certificate of formation or operating agreement; (ii) any material statute, rule or regulation applicable to the Company or (iii) any material debt or contract to which the Company is a party or by which it is bound, where, in each case, such violation or default, individually, or together with all such violations or defaults, could reasonably be expected to have a material adverse effect on the Company.
(c) The performance and consumption of the transactions contemplated by this Safe do not and will not: (i) violate any material judgment, statute, rule or regulation applicable to the Company; (ii) result in the acceleration of any material debt or contract to which the Company is a party or by which it is bound; or (iii) result in the creation or imposition of any lien on any property, asset or revenue of the Company or the suspension, forfeiture, or nonrenewal of any material permit, license or authorization applicable to the Company, its business or operations.
(d) No consents or approvals are required in connection with the performance of this Safe, other than: (i) the Company's corporate approvals; (ii) any qualifications or filings under applicable securities laws; and (iii) necessary corporate approvals for the authorization of Units issuable pursuant to Section 1.
(e) To its knowledge, the Company owns or possesses (or can obtain on commercially reasonable terms) sufficient legal rights to all patents, trademarks, service marks, trade names, copyrights, trade secrets, licenses, information, processes and other intellectual property rights necessary for its business as now conducted and as currently proposed to be conducted, without any conflict with, or infringement of the rights of, others.

# 4. Investor Representations

(a) The Investor has full legal capacity, power and authority to execute and deliver this Safe and to perform its obligations hereunder. This Safe constitutes valid and binding obligation of the Investor, enforceable in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors' rights generally and general principles of equity.
(b) The Investor has been advised that this Safe and the underlying securities have not been registered under the Securities Act, or any state securities laws and, therefore, cannot be resold unless they are registered under the Securities Act and applicable state securities laws or unless an exemption from such registration requirements is available. The Investor is purchasing this Safe and the securities to be acquired by the Investor hereunder for its own account for investment, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and the Investor has no present intention of selling, granting any participation in, or otherwise distributing the same. The Investor has such knowledge and experience in financial and business matters that the Investor is capable of evaluating the merits and risks of such investment, is able to incur a complete loss of such investment without impairing the Investor's financial condition and is able to bear the economic risk of such investment for an indefinite period of time.

# 5. Miscellaneous

(a) Any provision of this Safe may be amended, waived or modified by written consent of the Company and either (i) the Investor or (ii) the majority-in-interest of all then-outstanding Safes with the same "Post-Money Valuation Cap" and "Discount Rate" as this Safe (and Safes lacking one or both of such terms will be considered to be the same with respect to such term(s)), provided that with respect to clause (ii): (A) the Purchase Amount may not be amended, waived or modified in this manner; (B) the consent of the Investor and each holder of such Safes must be solicited (even if not obtained); and (C) such amendment, waiver or modification treats all such holders in the same manner. "Majority-in-interest" refers to the holders of the applicable group of Safes whose Safes have a total Purchase Amount greater than 50% of the total Purchase Amount of all of such applicable group of Safes.

(b) Any notice required or permitted by this Safe will be deemed sufficient when delivered personally or by overnight courier or sent by email to the relevant address listed on their Wefunder account, or 48 hours after being deposited in the U.S. mail as certified or registered mail with postage prepaid, addressed to the party to be notified at such party's address listed on their Wefunder account, as subsequently modified by written notice.

(c) The Investor is not entitled, as a holder of this Safe, to vote or be deemed a holder of Units for any purpose other than tax purposes, nor will anything in this Safe be construed to confer on the Investor, as such, any rights of a Company member or rights to vote for the election of directors or on any matter submitted to Company members, or to give or withhold consent to any corporate action or to receive notice of meetings, until units have been issued on the terms described in Section 1. However, if the Company pays a dividend on outstanding shares of Common Units (that is not payable in shares of Common Units) while this Safe is outstanding, the Company will pay the Dividend Amount to the Investor at the same time.

(d) Neither this Safe nor the rights in this Safe are transferable or assignable, by operation of law or otherwise, by either party without the prior written consent of the other, provided, however, that this Safe and/or its rights may be assigned without the Company's consent by the Investor (i) to the Investor's estate, heirs, executors, administrators, guardians and/or successors in the event of Investor's death or disability, or (ii) to any other entity who directly or indirectly, controls, is controlled by or is under common control with the Investor, including, without limitation, any general partner, managing member, officer or director of the Investor, or any venture capital fund now or hereafter existing which is controlled by one or more general partners or managing members of, or shares the same management company with, the Investor, and provided, further, that the Company may assign this Safe in whole, without the consent of the Investor, in connection with a reorganization to change the Company's domicile or convert the Company into a corporation.

(e) In the event any one or more of the provisions of this Safe is for any reason held to be invalid, illegal or unenforceable, in whole or in part or in any respect, or in the event that any one or more of the provisions of this Safe operate or would prospectively operate to invalidate this Safe, then and in any such event, such provision(s) only will be deemed null and void and will not affect any other provision of this Safe and the remaining provisions of this Safe will remain operative and in full force and effect and will not be affected, prejudiced, or disturbed thereby.

(f) All rights and obligations hereunder will be governed by the laws of the State of Colorado, without regard to the conflicts of law provisions of such jurisdiction.

(g) The parties acknowledge and agree that for United States federal and state income tax purposes this Safe is, and at all times has been, intended to be characterized equity for all income tax purposes of. Accordingly, the parties agree to treat this Safe consistent with the foregoing intent for all United States federal and state income tax purposes (including, without limitation, on their respective tax returns or other informational statements).

*(Signature page follows)*

IN WITNESS WHEREOF, the undersigned have caused this instrument to be duly executed and delivered.

**COMPANY:**

Antelope Recovery, LLC

By: *Founder Signature*

Name:

Title:

**INVESTOR:**

[INVESTOR NAME]

By: *Investor Signature*

Name: [INVESTOR NAME]

Title:

☐ Accredited Investor
☐ Unaccredited Investor

**Read and Approved (for IRA use only)**

By:

Name:

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

# Antelope Recovery I EB (THE "SPV"),
a series of Wefunder SPV, LLC, a Delaware limited
liability company (the "LLC")

# Subscription Agreement

[INVESTMENT
AMOUNT]

[INVESTMENT DATE]

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

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

1. The information on the Wefunder website about the Company, I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that none of Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC, nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;
2. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;
3. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "LLC Agreement"), which sets forth certain specific terms of the SPV;
4. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;
5. The LLC Agreement, which sets forth other terms applicable to each SPV;
6. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;
7. The Wefunder Investor Agreement; and
8. The Wefunder Terms of Service.

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

# Subscription Agreement

# SCOPE OF AGREEMENT AND INVESTOR ELIGIBILITY
REPRESENTATIONS

A. This agreement ("Agreement") applies to each investment in a series ("SPV") of Wefunder SPV, LLC (the "LLC"). Each series is a separate pool of assets from every other series. Each SPV will invest all of its assets in securities issued by a single company ("Company") as set forth in the applicable series appendix ("Series Appendix") to the Wefunder SPV, LLC limited liability company agreement (LLC Agreement). The terms of the Company securities to be purchased by the SPV are summarized in an appendix ("Terms Appendix") attached to this Agreement.
B. Each SPV is formed by and operated by Wefunder Admin, LLC on behalf of the Company in whose securities that SPV invests.
C. Important information about the Company, about the related SPV, and more generally about investments through the Wefunder website, is available through the Wefunder website. The Investor should review that information, and all relevant Company Information (as defined below), carefully before making an investment in any SPV.
D. Each SPV will offer membership interests ("Interests") in that SPV pursuant to Regulation Crowdfunding under the U.S. Securities Act of 1933, as amended (the "Securities Act").
E. You hereby agree that each time you make an investment in any SPV, you will be deemed to have entered into this Agreement, and will be deemed to have made each representation and covenant contained in this Agreement.
F. Except as the context otherwise requires, any reference in this Subscription Agreement to:

1. a "SPV" shall mean "The LLC acting solely on behalf of and for the account of the SPV";
2. "Investor" and "you" shall mean a person (whether individually, jointly with another person, or through his or her individual retirement account) who has agreed to invest, or has invested, in any SPV; and
3. "Company Information" means:

a. The information on the Wefunder website about the Company. I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that neither Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC (together, the "Wefunder entities," nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;
b. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;
c. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "LLC Agreement"), which sets forth certain specific terms of the SPV;
d. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;
e. The LLC Agreement, which sets forth other terms applicable to each SPV;
f. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;
g. The Wefunder Investor Agreement; and
h. The Wefunder Terms of Service.

INVESTOR'S REPRESENTATIONS AND COVENANTS

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

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

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

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

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

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

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

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

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

2.1. The Investor is acquiring the Interest for its own account, for investment purposes only and not with an intent to resell or distribute the Interest (or any distributions received from the SPV in whole or in part), and the Investor agrees that it will not sell or otherwise transfer the Interest unless in compliance with Regulation Crowdfunding and other applicable securities laws, and with the terms and conditions of this Agreement.
2.2. The Investor's investment in the Interest is consistent with the investment purposes, objectives and cash flow requirements of the Investor and will not adversely affect the Investor's overall need for diversification and liquidity.
2.3. The Investor has all requisite power, authority and capacity to acquire and hold the Interest and to execute, deliver and comply with the terms of each of the instruments required to be executed and delivered by the Investor in connection with the Investor's subscription for the Interest, including without limitation this Subscription Agreement, and such execution, delivery and compliance does not conflict with, or constitute a default under, any instruments governing the Investor, any law, regulation or order, or any agreement or other undertaking to which the Investor is a party or by which the Investor may be bound. If the Investor is an entity, the person executing and delivering each of such instruments on behalf of the Investor has all requisite power, authority and capacity to execute and deliver such instruments, and, upon request by the SPV, will furnish to the SPV a true and correct copy of any instruments governing the Investor, including all amendments thereto. The signature on each of such instruments is genuine and each of such instruments constitutes a legal, valid and binding obligation of the Investor enforceable against the Investor in accordance with its terms.
2.4. The Wefunder Parties are each hereby authorized and instructed to accept and execute any instructions in respect of the Interest given by the Investor in written or electronic form. The Wefunder Parties may rely conclusively upon and shall incur no liability in respect of any action take upon any notice, consent, request, instructions or other instrument believed in good faith to be genuine or to be signed by properly authorized persons of the Investor.
2.5. Pursuant to the requirements of Treas. Reg. § 301.6109-1(c), the Investor has provided, or agrees to provide upon the earlier of (i) two years of an acquisition of an Interest or (ii) twenty (20) days before any distribution is to be made from the SPV, his, her or its taxpayer identification number (e.g., social security number or employer identification number) under penalties of perjury and has or will attest that the Internal Revenue Service has not notified the Investor that he, she or it is subject to backup withholding.

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

3.1. The Investor understands that the SPV will not register as an investment company under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act"), nor will it make a public offering of its securities within the United States.
3.2. The Investor understands that the value of all investments in any SPV made through individual retirement accounts ("IRAs") must be less than \(25\%\) of the value of the SPV's assets.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

a. to facilitate the acceptance, management and administration of the Investor's subscription for an Interest on an on-going basis;
b. for any other specific purposes where the Investor has given specific consent to do so;
c. to carry out statistical analysis, market research, and tracking of investment performance over time;
d. to comply with legal or regulatory requirements applicable to the SPV and any Administrator or the Investor, including, but not limited to, in connection with anti-money laundering and similar laws;
e. for disclosure or transfer to third parties including the Investor's financial adviser (where appropriate), regulatory bodies, auditors, technology providers or to the SPV, any Administrator, any Lead Investor, and their delegates or their duly appointed agents and any of their respective related, associated or affiliated companies for the purposes specified above;
1. If the contents thereof are relevant to any issue in any action, suit or proceeding to which the LLC, the SPV, any Administrator, any Lead Investor, or their affiliates are a party or by which they are or may be bound;
g. for other legitimate business of the LLC, the SPV, any Administrator, or any Lead Investor.

5.2. The Investor acknowledges and agrees that it will provide additional information or take such other actions as may be necessary or advisable for the SPV or any Administrator (in the sole judgment of the SPV and/or any Administrator) to comply with any disclosure and compliance policies, related legal process or appropriate requests (whether formal or informal) or otherwise.
5.3. The Investor agrees and consents to disclosure by the LLC, the SPV and any of their agents, including any Administrator or any Lead Investor, to relevant third parties of information pertaining to the Investor in respect of disclosure and compliance policies or information requests related thereto. Without limiting the generality of the foregoing, the Investor agrees that information about the Investor may be provided to the Company in whose securities a SPV will or proposes to invest.
5.4. The Investor authorizes the LLC, the SPV, any Administrator, and each SPV service provider to disclose the Investor's nonpublic personal information to comply with regulatory and contractual requirements applicable to the SPV and its investments. Any such disclosure shall be permitted notwithstanding any privacy policy or similar restrictions regarding the disclosure of the Investor's nonpublic personal information.

# 6. Key Risk Factors

6.1. The Investor understands that investment in a SPV may involve a complete loss of the Investor's investment. In this regard, the Investor understands that such venture investments involve a high degree of risk, and that many or most venture company investments lose money. An Investor may ultimately receive cash, securities, or a combination of cash and securities (and in many cases nothing at all). If the Investor receives securities, the securities may not be publicly traded, and may not have any significant value.
6.2. The Investor understands and agrees that the Interests are subject to restrictions on transfer and cannot be redeemed. Instead, an Investor typically must hold his or her Interest in a SPV until the SPV has sold or otherwise disposed of its investments and the SPV distributes its investments to the investors in the SPV (a "Liquidation Event"). An Investor typically will not receive any distributions until such a Liquidation Event (and may not receive anything even upon a Liquidation Event), which may not occur for many years. The Investor must therefore bear the economic risk of holding their investment for an indefinite period of time.

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

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

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

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

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

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

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

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

# 7. Compliance With Anti-Money Laundering Laws.

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

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

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

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

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

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

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

# 8. Regulatory Provisions

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

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

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

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

# 9. Miscellaneous Provisions

# 9.1. Indemnification

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

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

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

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

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

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

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

9.4. **Power of Attorney** The Investor hereby appoints each of the Company and Wefunder Admin, LLC as its true and lawful representative and attorney-in-fact, in its name, place and stead to make, execute, sign, acknowledge, swear to and file:

9.4.1. a Certificate of Formation of the LLC and any amendments required under the Delaware Act
9.4.2. the LLC Agreement and any duly adopted amendments;
9.4.3. any and all instruments, certificates and other documents that may be deemed necessary or desirable to effect the winding-up and termination of the LLC or the SPV (including a Certificate of Cancellation of the Certificate of Formation); and
9.4.4. any business certificate, fictitious name certificate, related amendment or other instrument or document of any kind necessary or desirable to accomplish the LLC's or the SPV's business, purpose and objectives or required by any applicable U.S., state, local or other law.

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

# 9.5. Confidentiality

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

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

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

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

9.6. Amendments. Neither this Subscription Agreement nor any term hereof may be supplemented, changed, waived, discharged or terminated except with the written consent of the Investor and the Company on behalf of the relevant SPV. For the sake of clarity, the restriction on the Company in the preceding sentence applies solely to the form of this Subscription Agreement applicable to SPVs that have had a closing, and does not prevent the Company from changing the form and content of this Subscription Agreement for use in offerings of SPVs that have not had a closing.

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

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

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

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

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

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

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

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

SPV

Antelope Recovery I EB, as series of Wefunder SPV, LLC
By: Wefunder Admin, LLC, its Manager

By: Founder Signature

Date:

Name: Nicholas Tommarello

Title: Chief Executive Officer

Investor

[INVESTOR NAME]

By: Investor Signature

Date:

CONTACT INFORMATION:

Name: [INVESTOR NAME]

Mailing Address:

City:

Country:

E-mail:

# TERMS APPENDIX FOR THE PURCHASE OF Antelope
Recovery, LLC SECURITIES BY Antelope Recovery I EB,
A SERIES OF WEFUNDER SPV, LLC, A DELAWARE
LIMITED LIABILITY COMPANY

**Type of Security:** Future Equity

**Terms** $2.4M valuation cap and 20% discount

To view a copy of the contract, please see **Appendix B, Investor Contracts** of
the Form C. The latest Form C or C/A filing be found here:
https://www.sec.gov/cgi-bin/srch-edgar?text=%28FORM-
TYPE%3DC%2FA+or+FORM-
TYPE%3DC%29+and+CIK%3D0001967809&first=2016

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

# **Antelope Recovery I (THE "SPV"),**
a series of Wefunder SPV, LLC, a Delaware limited
liability company (the "LLC")

# Subscription Agreement

**[INVESTMENT AMOUNT]**

**[INVESTMENT DATE]**

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

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

1. The information on the Wefunder website about the Company, I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that none of Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC, nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;
2. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;
3. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "**LLC Agreement**"), which sets forth certain specific terms of the SPV;
4. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;
5. The LLC Agreement, which sets forth other terms applicable to each SPV;
6. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;
7. The Wefunder Investor Agreement; and
8. The Wefunder Terms of Service.

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

# Subscription Agreement

# SCOPE OF AGREEMENT AND INVESTOR ELIGIBILITY
REPRESENTATIONS

A. This agreement ("Agreement") applies to each investment in a series ("SPV") of Wefunder SPV, LLC (the "LLC"). Each series is a separate pool of assets from every other series. Each SPV will invest all of its assets in securities issued by a single company ("Company") as set forth in the applicable series appendix ("Series Appendix") to the Wefunder SPV, LLC limited liability company agreement (LLC Agreement). The terms of the Company securities to be purchased by the SPV are summarized in an appendix ("Terms Appendix") attached to this Agreement.
B. Each SPV is formed by and operated by Wefunder Admin, LLC on behalf of the Company in whose securities that SPV invests.
C. Important information about the Company, about the related SPV, and more generally about investments through the Wefunder website, is available through the Wefunder website. The Investor should review that information, and all relevant Company Information (as defined below), carefully before making an investment in any SPV.
D. Each SPV will offer membership interests ("Interests") in that SPV pursuant to Regulation Crowdfunding under the U.S. Securities Act of 1933, as amended (the "Securities Act").
E. You hereby agree that each time you make an investment in any SPV, you will be deemed to have entered into this Agreement, and will be deemed to have made each representation and covenant contained in this Agreement.
F. Except as the context otherwise requires, any reference in this Subscription Agreement to:

1. a "SPV" shall mean "The LLC acting solely on behalf of and for the account of the SPV";
2. "Investor" and "you" shall mean a person (whether individually, jointly with another person, or through his or her individual retirement account) who has agreed to invest, or has invested, in any SPV; and
3. "Company Information" means:

a. The information on the Wefunder website about the Company. I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that neither Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC (together, the "Wefunder entities," nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;
b. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;
c. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "LLC Agreement"), which sets forth certain specific terms of the SPV;
d. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;
e. The LLC Agreement, which sets forth other terms applicable to each SPV;
f. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;
g. The Wefunder Investor Agreement; and
h. The Wefunder Terms of Service.

INVESTOR'S REPRESENTATIONS AND COVENANTS

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

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

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

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

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

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

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

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

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

2.1. The Investor is acquiring the Interest for its own account, for investment purposes only and not with an intent to resell or distribute the Interest (or any distributions received from the SPV in whole or in part), and the Investor agrees that it will not sell or otherwise transfer the Interest unless in compliance with Regulation Crowdfunding and other applicable securities laws, and with the terms and conditions of this Agreement.
2.2. The Investor's investment in the Interest is consistent with the investment purposes, objectives and cash flow requirements of the Investor and will not adversely affect the Investor's overall need for diversification and liquidity.
2.3. The Investor has all requisite power, authority and capacity to acquire and hold the Interest and to execute, deliver and comply with the terms of each of the instruments required to be executed and delivered by the Investor in connection with the Investor's subscription for the Interest, including without limitation this Subscription Agreement, and such execution, delivery and compliance does not conflict with, or constitute a default under, any instruments governing the Investor, any law, regulation or order, or any agreement or other undertaking to which the Investor is a party or by which the Investor may be bound. If the Investor is an entity, the person executing and delivering each of such instruments on behalf of the Investor has all requisite power, authority and capacity to execute and deliver such instruments, and, upon request by the SPV, will furnish to the SPV a true and correct copy of any instruments governing the Investor, including all amendments thereto. The signature on each of such instruments is genuine and each of such instruments constitutes a legal, valid and binding obligation of the Investor enforceable against the Investor in accordance with its terms.
2.4. The Wefunder Parties are each hereby authorized and instructed to accept and execute any instructions in respect of the Interest given by the Investor in written or electronic form. The Wefunder Parties may rely conclusively upon and shall incur no liability in respect of any action take upon any notice, consent, request, instructions or other instrument believed in good faith to be genuine or to be signed by properly authorized persons of the Investor.
2.5. Pursuant to the requirements of Treas. Reg. § 301.6109-1(c), the Investor has provided, or agrees to provide upon the earlier of (i) two years of an acquisition of an Interest or (ii) twenty (20) days before any distribution is to be made from the SPV, his, her or its taxpayer identification number (e.g., social security number or employer identification number) under penalties of perjury and has or will attest that the Internal Revenue Service has not notified the Investor that he, she or it is subject to backup withholding.

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

3.1. The Investor understands that the SPV will not register as an investment company under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act"), nor will it make a public offering of its securities within the United States.
3.2. The Investor understands that the value of all investments in any SPV made through individual retirement accounts ("IRAs") must be less than \(25\%\) of the value of the SPV's assets.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

a. to facilitate the acceptance, management and administration of the Investor's subscription for an Interest on an on-going basis;
b. for any other specific purposes where the Investor has given specific consent to do so;
c. to carry out statistical analysis, market research, and tracking of investment performance over time;
d. to comply with legal or regulatory requirements applicable to the SPV and any Administrator or the Investor, including, but not limited to, in connection with anti-money laundering and similar laws;
e. for disclosure or transfer to third parties including the Investor's financial adviser (where appropriate), regulatory bodies, auditors, technology providers or to the SPV, any Administrator, any Lead Investor, and their delegates or their duly appointed agents and any of their respective related, associated or affiliated companies for the purposes specified above;
1. If the contents thereof are relevant to any issue in any action, suit or proceeding to which the LLC, the SPV, any Administrator, any Lead Investor, or their affiliates are a party or by which they are or may be bound;
g. for other legitimate business of the LLC, the SPV, any Administrator, or any Lead Investor.

5.2. The Investor acknowledges and agrees that it will provide additional information or take such other actions as may be necessary or advisable for the SPV or any Administrator (in the sole judgment of the SPV and/or any Administrator) to comply with any disclosure and compliance policies, related legal process or appropriate requests (whether formal or informal) or otherwise.
5.3. The Investor agrees and consents to disclosure by the LLC, the SPV and any of their agents, including any Administrator or any Lead Investor, to relevant third parties of information pertaining to the Investor in respect of disclosure and compliance policies or information requests related thereto. Without limiting the generality of the foregoing, the Investor agrees that information about the Investor may be provided to the Company in whose securities a SPV will or proposes to invest.
5.4. The Investor authorizes the LLC, the SPV, any Administrator, and each SPV service provider to disclose the Investor's nonpublic personal information to comply with regulatory and contractual requirements applicable to the SPV and its investments. Any such disclosure shall be permitted notwithstanding any privacy policy or similar restrictions regarding the disclosure of the Investor's nonpublic personal information.

# 6. Key Risk Factors

6.1. The Investor understands that investment in a SPV may involve a complete loss of the Investor's investment. In this regard, the Investor understands that such venture investments involve a high degree of risk, and that many or most venture company investments lose money. An Investor may ultimately receive cash, securities, or a combination of cash and securities (and in many cases nothing at all). If the Investor receives securities, the securities may not be publicly traded, and may not have any significant value.
6.2. The Investor understands and agrees that the Interests are subject to restrictions on transfer and cannot be redeemed. Instead, an Investor typically must hold his or her Interest in a SPV until the SPV has sold or otherwise disposed of its investments and the SPV distributes its investments to the investors in the SPV (a "Liquidation Event"). An Investor typically will not receive any distributions until such a Liquidation Event (and may not receive anything even upon a Liquidation Event), which may not occur for many years. The Investor must therefore bear the economic risk of holding their investment for an indefinite period of time.

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

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

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

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

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

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

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

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

# 7. Compliance With Anti-Money Laundering Laws.

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

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

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

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

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

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

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

# 8. Regulatory Provisions

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

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

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

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

# 9. Miscellaneous Provisions

# 9.1. Indemnification

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

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

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

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

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

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

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

9.4. **Power of Attorney** The Investor hereby appoints each of the Company and Wefunder Admin, LLC as its true and lawful representative and attorney-in-fact, in its name, place and stead to make, execute, sign, acknowledge, swear to and file:

9.4.1. a Certificate of Formation of the LLC and any amendments required under the Delaware Act
9.4.2. the LLC Agreement and any duly adopted amendments;
9.4.3. any and all instruments, certificates and other documents that may be deemed necessary or desirable to effect the winding-up and termination of the LLC or the SPV (including a Certificate of Cancellation of the Certificate of Formation); and
9.4.4. any business certificate, fictitious name certificate, related amendment or other instrument or document of any kind necessary or desirable to accomplish the LLC's or the SPV's business, purpose and objectives or required by any applicable U.S., state, local or other law.

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

# 9.5. Confidentiality

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

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

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

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

9.6. Amendments. Neither this Subscription Agreement nor any term hereof may be supplemented, changed, waived, discharged or terminated except with the written consent of the Investor and the Company on behalf of the relevant SPV. For the sake of clarity, the restriction on the Company in the preceding sentence applies solely to the form of this Subscription Agreement applicable to SPVs that have had a closing, and does not prevent the Company from changing the form and content of this Subscription Agreement for use in offerings of SPVs that have not had a closing.

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

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

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

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

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

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

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

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

SPV

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

By: Founder Signature

Date:

Name: Nicholas Tommarello

Title: Chief Executive Officer

Investor

[INVESTOR NAME]

By: Investor Signature

Date:

CONTACT INFORMATION:

Name: [INVESTOR NAME]

Mailing Address:

City:

Country:

E-mail:

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

**Type of Security:** Future Equity

**Terms** $3M valuation cap and 20% discount

To view a copy of the contract, please see **Appendix B, Investor Contracts** of
the Form C. The latest Form C or C/A filing be found here:
https://www.sec.gov/cgi-bin/srch-edgar?text=%28FORM-
TYPE%3DC%2FA+or+FORM-
TYPE%3DC%29+and+CIK%3D0001967809&first=2016

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

DocuSign Envelope ID: 4509D9E2-A19B-49E2-87FB-C84180D1EA0C

# **ANTELOPE RECOVERY LLC**

# **Financial Statements**

**Year Ended December, 2022**

**(With Accountant’s Review Report Thereon)**

DocuSign Envelope ID: 4509D9E2-A19B-49E2-87FB-C84180D1EA0C

5900 Balcones Dr STE 100
Austin, TX 78735
850-583-2996

Salem
Certified Public Accountants, LLC

# ANTELOPE RECOVERY LLC.

Year Ended December, 2022

# Table of Contents

|  | Pages |
| --- | --- |
| Independent Accountant's Review Report | 4 |
| Financial Statements: |  |
| Profit and Loss Statement | 5 |
| Balance Sheet | 6 |
| Statement of Cash Flows | 7 |
| Statement of Member's Equity | 8 |
| Notes to the Consolidated Financial Statements | 9 |

Page 2 of 10

DocuSign Envelope ID: 4509D9E2-A19B-49E2-87FB-C84180D1EA0C

5900 Balcones Dr STE 100

Austin, TX 78735

850-583-2996

Salem
Certified Public Accountants, LLC

# INDEPENDENT ACCOUNTANT'S REVIEW REPORT

Page 3 of 10

DocuSign Envelope ID: 4509D9E2-A19B-49E2-87FB-C84180D1EA0C

5900 Balcones Dr STE 100

Austin, TX 78735

850-583-2996

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

To whom it may concern;

We have reviewed the accompanying financial statements of Antelope Recovery LLC, which comprise of a profit & loss, balance sheet and a statement of cash flows as of December 31 2022. A review includes primarily applying analytical procedures to the management’s financial data and making inquiries of company management. A review is substantially less in scope in comparison to an audit, the objective of which is to express an opinion regarding the financial statements as a whole.

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. We have performed a review in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the American Institute of Certified Public Accountants. We did not audit the financial statements. Those standards require us to perform procedures to obtain limited assurance as a basis for reporting whether we are aware of any material modifications that should be made to the financial statements for them to be in accordance with accounting principles generally accepted in the United States of America. Accordingly, we do not express an opinion on these financial statements. Based on our review, we are not aware of any material modifications that should be made to the financial statements for them to be in accordance with accounting principles generally accepted in the United States of America.

DocuSigned by:  
A4278CB3A96B424...

Khaled Salem II, CPA

065.052110

Email: cpasalemkhaled@gmail.com

Page 4 of 10

DocuSign Envelope ID: 4509D9E2-A19B-49E2-87FB-C84180D1EA0C

5900 Balcones Dr STE 100

Austin, TX 78735

850-583-2996

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

# **ANTELOPE RECOVERY LLC**

# **Profit & Loss**

**September 7, 2022 - December 31, 2022**

| Ordinary Income/Expense |  |
| --- | --- |
| Income | 1,931.00 |
| Gross Profit | 1,931.00 |
| Expense |  |
| Partner Payments | 4,950.00 |
| Event Expenses | 247.80 |
| Continuing Education | 200.00 |
| Advertising & Promotion | 1,750.00 |
| Bank & Service Fees |  |
| Bank Fees | 45.00 |
| Merchant Fees | 71.78 |
| Total Bank & Service Fees | 116.78 |
| Meals & Entertainment | 25.00 |
| Office Expenses |  |
| Computer & Internet | 2,440.03 |
| Office Supplies | 125.22 |
| Total Office Expenses | 2,565.25 |
| Payroll Expenses |  |
| Contract Labor | 325.00 |
| Total Payroll Expenses | 325.00 |
| Professional Fees |  |
| Speakers | 558.00 |
| Accounting | 210.40 |
| Legal | 1,555.00 |
| Total Professional Fees | 2,323.40 |
| Rent | 5,675.00 |
| Supplies | 80.00 |
| Taxes, Licenses & Permits | 506.07 |
| Total Expense | 18,764.30 |
| Net Ordinary Income | -16,833.30 |
| Net Income | -16,833.30 |

DocuSigned by:  
A4278C63A96B424

Khaled Salem II, CPA

065.052110

Email: cpasalemkhaled@gmail.com

Page 5 of 10

DocuSign Envelope ID: 4509D9E2-A19B-49E2-87FB-C84180D1EA0C

5900 Balcones Dr STE 100

Austin, TX 78735

850-583-2996

Salem

Certified Public Accountants, LLC

# ANTELOPE RECOVERY LLC

# Balance Sheet

|  | Dec 31, 22 |
| --- | --- |
| ASSETS |  |
| Current Assets |  |
| Checking/Savings |  |
| Chase Checking - 3070 | 279.64 |
| Total Checking/Savings | 279.64 |
| Total Current Assets | 279.64 |
| TOTAL ASSETS | 279.64 |
| LIABILITIES & EQUITY |  |
| Equity |  |
| Katia | 2,420.00 |
| Anh Dao | 396.00 |
| Shelby | 2,406.38 |
| Robert | 11,890.56 |
| Net Income | -16,833.30 |
| Total Equity | 279.64 |
| TOTAL LIABILITIES & EQUITY | 279.64 |

DocuSigned by:

A4278CB3A06B424

Khaled Salem II, CPA

065.052110

Email: cpasalemkhaled@gmail.com

Page 6 of 10

DocuSign Envelope ID: 4509D9E2-A19B-49E2-87FB-C84180D1EA0C

5900 Balcones Dr STE 100

Austin, TX 78735

850-583-2996

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

# **ANTELOPE RECOVERY LLC**

# **Statement of Cash Flows**

**December 31$^{st}$2022**

| OPERATING ACTIVITIES |  |
| --- | --- |
| Net Income | -16,833.30 |
| Net cash provided by Operating Activi... | -16,833.30 |
| FINANCING ACTIVITIES |  |
| Katla | 2,420.00 |
| Anh Dao | 396.00 |
| Shelby | 2,406.38 |
| Robert | 11,890.56 |
| Net cash provided by Financing Activi... | 17,112.94 |
| Net cash increase for period | 279.64 |
| Cash at end of period | 279.64 |

DocuSigned by:

A4278CB3A96B424

Khaled Salem II, CPA

065.052110

Email: cpasalemkhaled@gmail.com

Page 7 of 10

DocuSign Envelope ID: 4509D9E2-A19B-49E2-87FB-C84180D1EA0C

5900 Balcones Dr STE 100
Austin, TX 78735
850-583-2996

Salem
Certified Public Accountants, LLC

# ANTELOPE RECOVERY LLC
Statement of Members Equity
Year Ended - December 31st 2022

| Member's Equity, Beginning of Year | $ - |
| --- | --- |
| Net Income (Loss) | $ - |
| Member's Equity, End of Year | $ - |

DocuSigned by:  
A4278CB3A96B424  
Khaled Salem II, CPA

065.052110

Email: cpasalemkhaled@gmail.com

Page 8 of 10

DocuSign Envelope ID: 4509D9E2-A19B-49E2-87FB-C84180D1EA0C

5900 Balcones Dr STE 100
Austin, TX 78735
850-583-2996

Salem
Certified Public Accountants, LLC

# NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT

# Summary of Significant Accounting Policies

# The Company

The consolidated financial statements have been prepared to present the financial position and results of operations of the following related entities (collectively, the “Company”). The financial statement only includes information from inception September 7, 2022 through December 31,2022.

Antelope Recovery LLC was incorporated in the State of Colorado in September 2022.

There is only one manager-member (Owns 100% of the equity) while the rest of the staff are “participants” and no voting

power. Antelope Recovery’s mission is redesigning teen mental health care to increase access and improve clinical outcomes. The company’s offers comprehensive online treatment options and makes it affordable for clients to receive appropriate care in a timely fashion.

# Fiscal Year

The Company operates on a December 31st year-end.

# Principles of Consolidation and Basis of Accounting

The accompanying consolidated financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States (“GAAP”) as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”).

Page 9 of 10

DocuSign Envelope ID: 4509D9E2-A19B-49E2-87FB-C84180D1EA0C

5900 Balcones Dr STE 100
Austin, TX 78735
850-583-2996

Salem
Certified Public Accountants, LLC

Use of Estimates

The preparation of the financial statement in conformity with accounting principles generally accepted in the United States of America requires the use of management's estimates. These estimates are subjective in nature and involve judgments that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at fiscal year-end. Actual results could differ from those estimates.

Risks and Uncertainties

The Company has a limited operating history. The Company's business and operations are sensitive to general business and economic conditions in the United States. A host of factors beyond the Company's control could cause fluctuations in these conditions. Adverse conditions may include, recession, downturn or otherwise, local competition or changes in consumer taste. These adverse conditions could affect the Company's financial condition and the results of its operations.

Cash and Cash Equivalents

The Company considers all highly liquid financial instruments purchased with maturities of three months or less to be cash equivalents. As of December 31, 2022, the Company held no cash equivalents.

DocuSigned by:  
A4278C03A960424...

Khaled Salem II, CPA

065.052110

Email: cpasalemkhaled@gmail.com

Page 10 of 10

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

Contact

www.linkedin.com/in/
robertmacnaughton (LinkedIn)
integralcenter.org (Company)
integrallife.com/ (Company)

Top Skills

Public Speaking
Product Management
Online Advertising

# Robert MacNaughton

Executive Coach & Facilitator
Boulder, Colorado, United States

## Summary

Robert MacNaughton is an executive coach and facilitator who specializes in balancing interpersonal development alongside individual performance. Robert supports leaders in resolving the gaps between their vision, roadmap, team alignment, and sustainable execution. Robert founded the Integral Center in Boulder, Colorado in association with renowned philosopher Ken Wilber, which hosted an international community of thought leaders, practitioners, and "evolutionaries." As its CEO, Robert led five profit centers (Holocratically-governed), supervising over 100 contractors, teachers, facilitators, and community leaders in over 25 cities globally.

## Experience

Neuberg, Gore & Associates
Executive Coach & Senior Expert
March 2019 - Present (4 years 1 month)
Boulder, San Francisco, New York

Neuberg, Gore & Associates helps startup CEOs and their leadership teams build the mindsets and leadership skills to scale their companies. The executive coaching firm's team members support the next generation of business leaders through one-on-one and team coaching programs.

Integral Centered Leadership
Founder & Lead Trainer
May 2019 - Present (3 years 11 months)
Boulder, Colorado, United States

Relational leadership trainings for a growth-oriented culture. Integral Centered Leadership offers programs, services, and content for leaders in all domains--business, family, community, self, etc--to help them gain more self-awareness, productivity, relational skillfulness, and perspectival fluidity.

- Dignities & Disasters Podcast
- Aletheia ~ Integral Circling® Intensive
- Phronēsis ~ Leadership Training and Facilitator Certification

Page 1 of 3

- The List ~ 7 Week Productivity Accelerator

## The Argonauts

### Facilitator

January 2021 - January 2022 (1 year 1 month)

The global community for innovators, executives, and entrepreneurs committed to creating lasting impact on our world.

## The Integral Center

### CEO & Co-Founder

December 2011 - December 2018 (7 years 1 month)

Boulder, Colorado

The Integral Center in Boulder Colorado has been an internationally recognized training company pioneering relational leadership development, while also hosting a “community as practice” home for Boulder and beyond within its 14,000 sqft facility. Robert has been a lead teacher, facilitator, operational director, and torch-bearer since inception--designing and leading in-person weekend trainings, online programs, and an annual conference. Robert will be nostalgically pulling the arrows out of his back for years to come.

## Impact Hub Boulder

### Board Director

May 2017 - November 2018 (1 year 7 months)

Boulder, Colorado

## Integral Life, Inc

### Director of Marketing

June 2008 - February 2012 (3 years 9 months)

Boulder, Colorado

## Integral Institute

### IT Director and Training A/V Director

May 2005 - June 2008 (3 years 2 months)

Boulder, Colorado

## Flatirons Web Design

### Principle Web Developer

July 1998 - August 2001 (3 years 2 months)

Boulder, Colorado

Front/Back-end web development

Page 2 of 3

IBM Global Services
Tier 2 Network Administrator
September 2000 - May 2001 (9 months)

Quintessa Computer Consulting
Founder
January 1994 - July 1999 (5 years 7 months)
Atlanta, Georgia

Computer consulting, repair, sales, development, & integration for commercial
and consumer clients in Atlanta Georgia.

# Education

Naropa University
BA, Music, Yoga · (2003 - 2005)

University of Colorado Boulder
Electrical & Computer Engineering · (1998 - 2001)

The Westminster Schools
· (1986 - 1998)

Page 3 of 3

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

Contact

www.linkedin.com/in/
shelbyrobbins1 (LinkedIn)

Top Skills

Public Speaking
Leadership
Customer Service

Certifications

Generating Transformative Change
(GTC Program)
Motivational Interviewing
Massage And Bodywork Therapist
Integral Circling Facilitator
STAGES Essentials for
Psychotherapy and Coaching

# Shelby Robbins

Co-Founder/CEO @AntelopeRecovery
Boulder, Colorado, United States

## Summary

As the founder of Antelope Recovery, I am working with a compassionate and fast growth team whose mission is redesigning teen mental health care to increase access and improve clinical outcomes. Our focus is to make behavioral health care healthier. We do this by making it easier for providers by offering comprehensive online treatment options, and making it affordable for clients to receive appropriate care in a timely fashion. My passion is to build an organization that has a positive and transformative effect on the field of teen behavioral health and ultimately the entire healthcare ecosystem.

## Experience

Antelope Recovery

Chief Executive Officer

March 2022 - Present (1 year 1 month)

Boulder, Colorado, United States

Antelope Recovery is redesigning teen recovery to become more accessible and affordable for clients, through virtual outpatient programming.

Fire Mountain Residential Treatment Center

Direct Counseling Manager

March 2020 - October 2021 (1 year 8 months)

Estes Park, Colorado, United States

- Hired, trained, and led a resilient/adaptable team of 20 Direct Care Counselors to provide emergency mental health care for teens
- Scaled team Direct Care team as part of 2020 growth plan through hiring 5 new counselors, and advancing number of direct reports from 15 to 20
- Expanded EMR processes and introduced Notion as a project management software to improve hiring processes

Page 1 of 3

- Partnered with outside trainers to support team in delivering higher quality care.
- Increased efficiency across departments through implementing monthly, targeted, cross department goals and streamlined reports

# Shelby Robbins Coaching

# Personal Coach

November 2015 - October 2021 (6 years)

Boulder, Colorado, United States

- Built full-time coaching practice through strategic planning and development, built the brand, marketing, system development, and sourcing clients to create a robust client portfolio
- Supported clients through utilization of active life planning, goal setting, strategy, working through life transitions, emotional crisis, communication strategy, and personal decision making
- Managed and developed WordPress website to increase traffic, sales, and life span of the average customer
- Developed efficiency to business operations and systems, which included CRM tracking/reporting, onboarding, accounting, marketing, and closure conversations
- Closed a successful business which reflected five years at 30 clients per week to pursue new and exciting endeavors in mental health and clinical program management

# District of Squamish

# Youth Program Coordinator

November 2012 - March 2014 (1 year 5 months)

Squamish, British Columbia, Canada

- Utilized expertise in outreach, cross-company coordination, connecting those with minimal education and resources, public speaking, grant writing, volunteer coordination, program development, and facilitation skills to manage non-profit youth programs for Squamish, and partnership with a local non-profit, The Hot Spot

Page 2 of 3

• Developed and implemented afterschool programs for youth in Squamish in coordination with the local high school and non-profit, The Hot Spot

• Created a legal spray-paint wall in collaboration with local youth, non-profits, property owners, and local government

Colorado Department of Public Health and Environment

Youth Partner for Public Health

December 2009 - May 2012 (2 years 6 months)

Denver, Colorado, United States

• Provided feedback, recommendations, and input to local stakeholders and council members on policies that impact teens

• Presented a case so teens could access confidential healthcare at the 2012 Colorado state healthcare conference

• Increased ability to access diverse youth populations in the state through increasing outreach efforts, adjusting the interview process, and increasing accessibility.

# Education

Naropa University

Bachelor's degree, Somatic and Cognitive Psychology · (2017 - 2019)

University of Denver

Master of Arts - MA, Clinical Psychology · (2022)

Quest University Canada

Bachelor's Degree, Clinical Psychology · (2012 - 2014)

Peak to Peak Charter School

High School · (2009 - 2012)

Page 3 of 3

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

In the USA, 10 million adolescents struggle
with severe mental illness (SMI*).
Unfortunately, 90% of them do not have
access to mental healthcare.

*SMI: addiction, schizophrenia, bipolar, and psychosis
(this includes suicidal + homicidal ideation)

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

# When teens don't get the care they need...

- Their lifespan shortens by an average of 30 years
- May develop a chronic, life-long disability
- A lack of appropriate treatment at the right time costs families and communities $317 billion per year

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

# The future generations are not set up to succeed.

**Available care for teens has decreased**, with over half of all long-term care centers in the US closing down since 2020. Meanwhile, mental health issues are rising, with a 50% increase in teen suicide attempts since 2019.

Rise of depressive episodes in Teens

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

Source: Twenge and Haidt

Our teens need your help.

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

We can do  
SO MUCH BETTER  
for our teens

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

Antelope Recovery will provide remotely accessible intensive outpatient programs (IOP) for teens struggling with severe mental health disorders.

We help families, who wouldn't usually have access to these services, stabilize, heal, and recover.

In-person care is unrealistic for our healthcare system to provide for rural and frontier counties. Our program fills a critical missing gap in our healthcare system.

# What is intensive outpatient (IOP)?

Between 5-20 hours of therapy per week

Between 30-120 total days of treatment

This includes family therapy, individual therapy, and group therapy.

This is for teens who need more than one session of therapy a week to heal. This is for teens who are truly struggling.

# The social impact of this project is immense

On average, it takes three months for people with mental illness to receive the care they need. Unfortunately, this is often too late. During this three-month wait period, families, communities, and case workers often expend all of their energy to prevent the worst from happening. This process can result in worsened symptoms for the patient and feelings of hopelessness, fear, and overwhelm in those around them.

So... What would our communities look like if we could get our teens appropriate mental health care?

Teens would stay in high school, be less likely to go on disability, and have a longer lifespan by, on average, 30 years.

Not only will your contribution change lives... we're in a position for it to be a significantly successful investment.

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

# Explosive growth potential lies ahead

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

$16.2M
2025 Year-End
Run Rate

# How you will get a return on your investment:

- Your participation at this very early stage of our company is handled by a SAFE (Simple Agreement for Future Equity). These will convert your investment to stock at a later date if the company raises a "priced round" from major investors. At this point, you are a shareholder owning equity, and you earn a return if the value of that stock goes up over time, and you are able to sell it.
- **Dividends &/or share buybacks:** We have the potential to become highly profitable in a way that supports stock buybacks & potentially substantial dividends
- **Sale of the business:** If the right partner wants to buy at an attractive price, we're definitely going to consider it.

**Bonus:** Your investment in Antelope can be exempt from capital gains under the Small Business Stock Gains Exclusion, IRS code Section 1202.

# We need funding **now** to launch our program!

Understandably, the teen mental health care industry has high barriers to entry. Getting off the ground is a critical challenge. This is our 'zero to one' moment.

We are undergoing extensive licensure and legal processes to ensure our program is safe and high-quality. We can't accept clients until this is completed.

This moment is crucial for our company and we want you to be a part of it! So, let's join forces to build an incredible service for our teenagers.

# Where is my money going once I invest?

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

$250,000 gives us the essential capital needed to open our doors.

Our program is cutting edge...

We're leveraging what works and are building what's crucially missing.

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

# How we're addressing what's missing in mental healthcare:

## **Precision care model:**

Measuring outcomes, standardizing treatment protocols, and adjusting risks.

## **Servicing large industry gaps:** *Rural, Indigenous, and Hispanic families*

Evolving mental healthcare from just a social movement to an essential healthcare service, as it should be.

## **Highly accessible and effective online programming:**

From a dangerously limited location-based service to 'anywhere, anytime'.

## **Robust and sustainable clinical team:** *Real health for healthcare providers*

From underpaid, high-turnover working conditions to top-talent care providers with competitive compensation and benefits for their own mental health.

# Precision care-we focus on results:

90% of mental health programs do not track client data. In addition, most programs that measure outcomes do not utilize standardized, risk-adjusted procedures. Thus, collected data is only relevant to a single practitioner.

## Tracking client data allows us to:

- Create a standardized treatment protocol
- Implement feedback throughout every layer of the business
- Improve treatment outcomes for the client
- Minimize therapist burnout

# Filling the gaps and mental health deserts:

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

In Colorado, we are lacking in mental health resources. As a result, we do not have enough programs to treat the teens who need help.

Source: Colorado Rural Health Center

Key:

- ● Acute Treatment Unit
- ● Community Mental Health
- ● Centers
- ● Residential Inpatient Treatment

*Las Animas county is as large as Connecticut and does not have a mental health facility

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

Online therapy is extensively research-backed and has been studied for decades.

Online programming doesn't mean teens sit in front of a screen for 20 hours a week. We are building a program that includes creating an 'ecology' of support nested into teens' lives. Teens will be connecting with teachers, coaches, and local communities as a part of treatment. Therapeutic missions outside of screen time are an essential aspect of the program. (btw: no other online programs are currently offering this kind of care...)

# Antelope is addressing the mental health labor crisis head-on.

## **Often, mental health care workers have terrible mental health.**

This field is currently suffering a labor crisis. In-part, this is because mental healthcare workers are suffering from burnout, and healthcare companies have failed to support their essential staff.

It is nearly impossible to care for teens when you are making minimum wage, answering crisis-calls on a 24-7 line, and suffering severe personal costs for the sake of your job.

We get that providing mental healthcare in the current model, is extremely challenging to do long-term for anyone. We know that prioritizing the health of our caseworkers and clinicians, is one of the only ways we can ensure the highest quality healing for our clients.

By offering competitive pay, low case-loads, and robust clinical support, we can address these long term issues in the mental health field.

Our program is designed by clinicians-we know what clinicians need in-order to thrive in their work.

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

A bright future with Antelope Recovery!

# Our first 100 clients

Our first 100 clients are located in rural Colorado mountain towns, where there is a strong need for resources. We are starting with private pay clients, so that we can build out our insurance billing systems with lots of care, once we've opened our doors and have access to more capital. Thoughtful insurance negotiations are essential to our expansion.

Once we have penetrated Colorado's western slope, we will then expand into southern and eastern Colorado during the second half of 2023 once we have insurance capacities.

We have the potential to create a new future for 10 million teens in the US who have an SMI*.

There is a huge pool of potential clients. The hard part of this business is not about client acquisition, it is about structuring our providers and scaling. Once we open our doors, we will be enabled to provide these 10 million teens with life saving care. Both the social impact and financial gain would be huge.

# 1-Year Roadmap

Q4'22

- Pre-seed WeFunder campaign: $250,000+
- Achieve licensure for our intensive outpatient program in Colorado

Q1 + Q2 2023

- Launch our beta IOP with 15 clients
- Grow the IOP to take 50 clients

Q3 2023

- Achieve accreditation (allowing us to take insurance)
- Multi-state growth strategy and needs assessment complete

Q4 2023

- Grow clinical capacity to 150 clients
- Onboard additional states

# Every Teen Should Have Access to Life Saving Care

1-2 years:

- Next states to onboard:
  - Based on forthcoming needs-assessments we're looking into: Wyoming, N+S Dakotas, New Mexico, Oklahoma, Nevada, Kentucky, Montana, Texas, et al
- Future program development
  - Tribal, Military, & Hispanic programming (high insurance ROIs + grant opportunities)
  - Additional diagnostic-specific programming

3-5 years:

- Every teen in the US has access to high-quality IOP care as needed (licensed in every state)
- Onboard young adult populations (ages 18-25)

The Big Goal:

- Successful stepped-care systems to impact mental healthcare at every stage-from acute needs to effective harm-reduction education

# Progress to Date

1. Essential Team built

- Clinical Director
- Head of Data + Security
- 3 clinical staff
- Head of accounts and referrals
- 1 Strategy + growth adviser
- 1 Clinical adviser
- 9+ informal advisers

2. Product development

- Colorado IOP licensure in progress
- Community referral processes in progress
- Tech + Data platform development in progress (Kareo + Snowflake)

3. Harm reduction + community outreach

- Parent education program and fall teen groups launched
- Strong social media presence on multiple platforms

# Our 'Why'

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

Our Founder, Shelby Robbins, has been on a mission to transform teen mental health since her best friend and partner of 5 years developed a heroin addiction and passed away due to an overdose in 2018.

Shelby had a front-row seat to the horrors of teen mental illness when supporting Kris as he navigated years of rehab facilities, halfway houses, jail, therapy, spiritual programs, NA, and homelessness. She has witnessed addiction tear apart families and communities.

She has since dedicated her time to helping teens and families heal.

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

Join us in providing this essential health care service to
Colorado teens and families.

Your investment dollars will come back to you
as we grow and expand.

Through Antelope Recovery we'll be able to help struggling teens
and families get the care they need, regardless of where they live.

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

# OPERATING AGREEMENT
of
ANTELOPE RECOVERY LLC

This Operating Agreement (the “Agreement”) is made and entered into this 2nd day of September 2022 (the “Execution Date”) between Shelby Ann Robbins and Robert MacNaughton (hereinafter referred to individually as a “Member” and collectively as the “Members”).

# BACKGROUND

A. The Members wish to associate themselves as Members of a limited liability company.
B. The terms and conditions of this Agreement will govern the Members within the limited liability company.
C. The Members desire to divide the equity ownership of the Company in general accordance with the principles of Slicing Pie Handbook: Perfectly Fair Equity Splits for Bootstrapped Startups, (Published September 21, 2016 ISBN-10: 0692584625, ISBN-13: 978-0692584620) Mike Moyer (the "Book") by creating a Participant Risk Fund and tracking Member Input as described in the Book and this Agreement.

IN CONSIDERATION OF and as a condition of the Members entering into this Agreement and other valuable consideration, the receipt and sufficiency of which is acknowledged, the parties to this Agreement agree as follows:

# 1. Definitions

1.1. For the purpose of this Agreement, the following terms are defined as follows:

1.1.1. "Agreement" or "Operating Agreement" means this Operating Agreement.
1.1.2. "The Act" means the Colorado Limited Liability Company Act.
1.1.3. "The Book" means Slicing Pie Handbook: Perfectly Fair Equity Splits for Bootstrapped Startups by Mike Moyer.
1.1.4. "Claw Back Transaction" means any transaction enumerated under Section 23.4 that occurs within one (1) year of a Good Reason resigning Member's Effective Date and entitles such Member to the full consideration Member would have received had Member not resigned.
1.1.5. "Company" means Antelope Recovery LLC.

1.1.6. "Effective Date" means the date on which the Company receives written notice of a Member, Manager's, or Participant's dissociation, resignation, termination or withdrawal.
1.1.7. "Equity" means all or part ownership of the Company.
1.1.8. "Execution Date" means the date that this Agreement is signed by the Members.
1.1.9. "For Cause" means the circumstances that justify a Member's or Participant's termination from the Company in accordance with Section 21.3.
1.1.10. "Good Reason" means the circumstances that justify a Member's or Participant's resignation from the Company in accordance with Section 21.2.
1.1.11. "GRR Value" or "Good Reason Resignation Value" means the value of a Member's or Participant's aggregate Member or Participant Inputs reduced by the gross amount of compensation paid as severance to the Member or Participant, if any, if the Member or Participant resigns with Good Reason.
1.1.12. "Input" or "Input Contribution" means any individual Member's or Participant's time, effort, and other resource contributions made to acquire an interest in the Company during the existence of the Participant Risk Fund.
1.1.13. "Manager" or "Risk Leader" means Shelby Ann Robbins.
1.1.14. "Member(s)" means Shelby Ann Robbins; Robert MacNaughton; and/or, each Party who is subsequently admitted to the Company as a Member pursuant to this Agreement, other than a Party who ceases to be a Member of the Company pursuant to this Agreement.
1.1.15. "Member Inputs" or "Participant Inputs" means all Input Contributions made to the Company by each Member or Participant during the time that the Participant Risk Fund is in existence.
1.1.16. "Net Profits or Losses" means the net profits or losses of the Company as determined by generally accepted accounting principles.

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1.1.17. "Offer Letter" means the contract that defines the terms of each Manager's, Member's, or Participant's compensation, rights, duties, obligations, and responsibilities to the Company. The terms of each party's Offer Letter supersede the terms found in this Agreement.
1.1.18. "Operation of Law" means rights or duties that are cast upon a party by the law, without any act or agreement on the part of the individual including, but not limited to, an assignment for the benefit of creditors, a divorce, or a bankruptcy.
1.1.19. "Participant" means a Member or nonmember who is engaged via an Offer Letter to make Input Contributions to the Company in exchange for either, in the Company's sole discretion, a future cash payment or Share in the Company upon the occurrence of the Participant Risk Fund Lock. Nonmember Participants are not parties to this Operating Agreement and are not entitled to vote on Company matters.
1.1.20. "Participant Risk Fund" means the account and method of allocating \(100\%\) of the equity in the Company based on the relative, theoretical value of Input Contributions at any given time.
1.1.21. "Participant Risk Fund Calculation Sheet", or "Grunt Fund Calculation Sheet" in The Book, means the spreadsheet used to account for Member Inputs and Participant Inputs located at https://thepieslicer.com/home/27796 as of the Execution Date.
1.1.22. "Participant Risk Fund Lock", or "Grunt Fund Split" in The Book, means the time at which the Company shall cease accepting Member Inputs and Participant Inputs and each Member and Participant's respective share of the Company's dynamic equity shall be calculated upon the occurrence of the events in Section 12.
1.1.23. "Partnership Representative" means Shelby Ann Robbins.
1.1.24. "Post-Split Agreement" means any separate agreement made after the Participant Risk Fund Lock, including modification of the Company's Articles of Organization or Incorporation.
1.1.25. "Principal Office" means the office whether inside or outside the State of Colorado where the executive or management of the Company maintain their primary office.

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1.1.26. "Principal Place of Business" means the location of the Principal Office or such other place as the Members may from time to time designate.
1.1.27. "Resignation Value" means the actual fair market value of a Member's or Participant's aggregate Member or Participant Inputs, other than time and without respect to any multiplier, as of the date(s) of contribution to the Company, if the Member or Participant resigns without Good Reason.
1.1.28. "Share" or "Member Share" means a Member's or Participant's percentage of the equity of the Company as of the Participant Risk Fund Lock and is equal to the quotient of such Member's or Participant's Inputs divided by the Total Inputs.
1.1.29. "Simple Majority" means over fifty (50%) of all Members in accordance with Section 8.
1.1.30. "Supermajority" means seventy-five percent (75%) of all Members in accordance with Section 8.
1.1.31. "Total Inputs" means the aggregate total of all Inputs provided to the Company by all Members and Participants during the time that the Participant Risk Fund is in existence.

## 2. Formation

2.1. The Members formed a Limited Liability Company (the "Company") in accordance with the laws of the State of Colorado. The rights and obligations of the Members will be as stated in the Act except as otherwise provided here.

## 3. Name

3.1. The name of the Company is Antelope Recovery LLC.

## 4. Purpose

4.1. The Company is organized for the conduct of any or all lawful affairs for which a limited liability company may be organized under the Act.

## 5. Term

5.1. The Company will continue until terminated as provided in this Agreement or may dissolve under conditions provided in the Act.

## 6. Place of Business

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6.1. The Principal Office of the Company will be located at 1035 Pearl Street, Suite 313, Boulder, CO 80302, US or such other place as the Members may from time to time designate.

## 7. Participant Risk Fund

7.1. The Members hereby create a Participant Risk Fund (a “Participant Risk Fund”) for the purpose of allocating 100% of the equity ownership in the Company among the Members and Participants on such date as the Participant Risk Fund Lock under Section 12 occurs. Until the Participant Risk Fund Lock occurs, the Equity is dynamic and will vary according to each Member’s or Participant’s relative Inputs at any given time in general accordance with the Book. As set forth on the Participant Risk Fund Calculation Sheet, all Equity in the Company will be allocated pursuant to the Participant Risk Fund provided for by this Agreement.

7.2. The Members and Participants shall participate in the Participant Risk Fund by providing each Member’s or Participant’s time, efforts, and other resources to the Company during the existence of the Participant Risk Fund (“Inputs”). Inputs shall be precisely defined, tracked and valued (including, respective to each Member or Participant) as set forth in the Participant Risk Fund Calculation Sheet, located at https://thepieslicer.com/home/27796. Input Contributions not tracked in the Participant Risk Fund Calculation Sheet by a Member or Participant shall not be counted for purposes of the Participant Risk Fund.

## 8. Voting

8.1. Each Member will have a single proportional vote on any matter.

8.2. The weight that an individual Member’s vote is granted shall be calculated in accordance with Section 12.3 so that the weight is consistent with the Member’s Share at the time of said vote.

8.3. Nonmember Participants are not entitled to vote on Company matters.

## 9. Nature of Interest

9.1. A Member’s or Participant’s interest in the Company will be considered personal property and will at no time be considered real property.

## 10. Interest on Input Contributions

10.1. No borrowing charge or loan interest will be due or payable to any Member or Participant on his or her Input Contribution(s) inclusive of any agreed additional contributions.

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## 11. Operating Procedures Before Participant Risk Fund Lock

11.1. Notwithstanding anything to the contrary in this Agreement, in order for any of the following transactions to be authorized while the Participant Risk Fund is in existence, the relative dynamic equity of the Members will be determined in accordance with the terms of Section 12.3 no less than thirty (30) days prior to the proposed consummation of any such transaction. The Members shall have one vote to approve or disapprove of the consummation of any such transaction in accordance with Section 8, and further, as voting upon such matter is governed by default state law, as the case may be. The required voting majority and the respective transactions this Section 11 applies to are:

11.1.1. Upon the affirmative Supermajority votes of the Members in accordance with Section 8, a sale of all or substantially all of the assets of the Company;
11.1.2. Upon the affirmative unanimous votes of the Members in accordance with Section 8, any merger, reorganization, recapitalization or related or similar transaction in which any person or group of persons other than Members will, after the consummation of such transaction, hold 51% or more of the equity interests or assets of the Company.

11.2. Should the Participant Risk Fund Lock occur under any of the aforementioned circumstances in this Section 11, the proceeds shall be distributed in the following priority:

11.2.1. First to satisfy any outstanding debt (promissory notes, etc.);
11.2.2. Second to any third-party equity interest holders (convertible notes, SAFE Agreements, etc.);
11.2.3. Third to the Members and Participants in accordance with Section 12 below.

## 12. Operating Procedures After Participant Risk Fund Lock

12.1. Following the Participant Risk Fund Lock, the Members shall enter into such separate agreement(s) (including modification of the Company's Articles of Organization or Incorporation, as the case may be) (the "Post-Split Agreement(s)") as may affect the operation, governance, ownership restriction, and such other related matters as such Members may agree regarding the Company following the Participant Risk Fund Lock.
12.2. The Participant Risk Fund shall cease accepting Inputs from the Members and Participants and each Member's and Participant's Share of the Equity of the

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Company shall be calculated upon the earliest to occur of any of the following events (the occurrence of any such event being the “Participant Risk Fund Lock”):

12.2.1. The affirmative consent of a Simple Majority of the Members in accordance with Section 8;
12.2.2. The day prior to the effective date of any agreement in which any person who is not a Member invests (via equity or convertible debt) in the company an amount in excess of $1,000,000.00;
12.2.3. The final day of any six (6) month period of profitability, including the payment of established market salaries to the Members regardless if the Member takes the salary;
12.2.4. The day before the date on which the Company's assets or equity interests are sold or on which the Company liquidates; or,
12.2.5. December 31, 2023.

12.3. At and as of the Participant Risk Fund Lock:

12.3.1. All Inputs provided to the Company by the Members and Participants during the time that the Participant Risk Fund is in existence shall be aggregated (such total being the "Total Inputs").
12.3.2. All Inputs provided to the Company by each Member and Participant during the time that the Participant Risk Fund is in existence shall be aggregated (such total for each Member and Participant being each respective Member's or Participant's "Member Inputs" or "Participant Inputs").
12.3.3. Each Member's or Participant's Share of the Company as of the Participant Risk Fund Lock shall be equal to the quotient of such Member's or Participant's Inputs divided by the Total Inputs (such quotient constituting each Member's or Participant's "Share").

12.4. Upon the determination of each Member’s or Participant’s Share, the Equity of the Company shall be distributed forthwith as follows:

12.4.1. The respective percentage interests of the Company shall be modified as of the date of the Participant Risk Fund Lock so that each Member’s or Participant’s share of (x) profit and (y) loss shall be equal to such Member’s or Participant’s Share.

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12.4.2. Each Member's capital account shall be increased upon the Participant Risk Fund Lock only in accordance with Section 704(b) of the Internal Revenue Code of 1986, as amended.

12.5. Each Member's or Participant's Equity shall vest immediately and in full upon the Participant Risk Fund Lock unless otherwise agreed.
12.6. The Members and Participants acknowledge and agree that the Participant Risk Fund is not intended and shall not under any circumstance be used to calculate any accrued debt or money owed in any manner by any Member or Participant to any other Member, Participant, or to the Company.
12.7. The Members and Participants acknowledge and agree that the Participant Risk Fund is not intended and shall not under any circumstance be used to establish or calculate the fair market value of the Company; a Member's Inputs; a Participant's Inputs; a Member's Share; or, a Participant's Share.

# 13. Management

13.1. Management of the Company is vested in the following manager (the "Manager" or "Risk Leader") until such time as a Manager is removed by the Members or resigns from the position:

| Manager & Risk Leader | Manager Address |
| --- | --- |
| Shelby Ann Robbins |  |

13.2. Management compensation will be as follows:

| Manager & Risk Leader | Compensation |
| --- | --- |
| Shelby Ann Robbins | The Manager shall be entitled to reasonable compensation for Input Contributions. |

13.3. The duties and responsibilities of the Manager will include the following, subject only to terms of this Agreement and the requirements of applicable law, the Manager shall have the full and complete authority, power and discretion to manage and control the business, properties and affairs of the Company, including the right and duty, for Company purposes:

13.3.1. To oversee and manage operations of the Company;

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13.3.2. To delegate various operational responsibilities to other persons, including Members and Participants of the Company;
13.3.3. To retain outside contractors, vendors and suppliers in connection with the operations of the Company;
13.3.4. To employ legal counsel, accountants, managing agents and other experts to perform services for the Company;
13.3.5. To purchase liability and other insurance to protect the Company's property and business;
13.3.6. To invest and reinvest Company reserves in time deposits, short-term instruments, commercial paper, money market funds or other instruments;
13.3.7. To open bank accounts in the name of the Company, having such signatory or signatories as the Manager shall determine; and,
13.3.8. To undertake and perform such other acts that the Manager deems necessary or appropriate in connection with the business, properties and affairs of the Company.

13.4. The Members may remove one or more Manager(s) under the following conditions: The Manager may be removed at any time, with or without cause, upon the affirmative consent of a Simple Majority of the Members in accordance with Section 8.
13.5. The Manager may withdraw as Manager under the following conditions: The Manager may resign at any time by giving written notice to the Members. The resignation of the Manager shall take effect upon delivery of such notice or at a later date specified therein. Unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective. The resignation of the Manager who is also a Member shall not affect the Manager's Membership Interest and shall not constitute resignation by that Member.
13.6. The Manager may be added to the Company, under the following conditions: An additional Manager may be added at any time upon the affirmative consent of a Simple Majority of the Members in accordance with Section 8.
13.7. All Members will be consulted, and the advice and opinions of the Members will be obtained as much as is practicable. However, the Manager will have management and control of the day-to-day business of the Company for the purposes stated in this Agreement. All matters outside the day-to-day business of the Company will be decided by the Members as outlined elsewhere in this Agreement.

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13.8. In addition to day-to-day management tasks and any other duties and responsibilities already identified in this Agreement, the Manager's duties will include keeping, or causing to be kept, full and accurate business records for the Company according to the Book, accepted accounting practices, and overseeing the preparation of any reports considered reasonably necessary to keep the Members informed of the business performance of the Company.
13.9. The Manager will not be liable to the Members or Participants for any action or failure to act resulting in loss or harm to the Company except in the case of gross negligence or willful misconduct.
13.10. Subject to Section 15 of this Agreement, the Manager may engage in activities with other business entities where the Manager is or may become a member or manager. A transaction between the Company and another company in which the Manager has a financial interest will not be void for this reason alone. The transaction will be valid only where it has been fully disclosed to the Members of the Company and upon the Simple Majority votes of the Members in accordance with Section 8.
13.11. The Manager will devote such time and attention to the business of the Company as required performing Manager's duties and responsibilities for the conduct of the Company's business.

# 14. Authority to Bind Company

14.1. Only the following individuals have authority to bind the Company in contract:

14.1.1. Only the Manager may bind the Company in contracts;
14.1.2. Any Member may bind the Company in contracts upon receiving the prior, written consent of the Manager, which consent may be by general delegation of the authority to bind the Company to such categories of contracts as specified in such delegation.

# 15. Duty of Loyalty

15.1. No Participant, Member, or Manager will engage in any business, venture, or transaction, whether directly or indirectly, that might be competitive with the business of the Company or that would be in direct conflict of interest to the Company without the affirmative consent of a Simple Majority of the votes cast.
15.2. Termination of any Participant, Member, or Manager for conflicts of interest will be deemed "For Cause" and the offending Participant, Member, or Manager may be treated accordingly by the remaining Members.

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# 16. Ownership of Intellectual Property

16.1. Excluding any patents that are expressly licensed to the Company, any and all intellectual property and related material (the "Intellectual Property") including any related work in progress that is developed or produced under this Agreement, will be the sole property of the Company. The use of the Intellectual Property by Company will not be restricted in any manner. The Members or Participants may not use the Intellectual Property for any purpose other than the business of the Company except with the prior unanimous written consent of the Members in accordance with Section 8.
16.2. Each Member or Participant will be responsible for any and all damages resulting from the unauthorized use of the Intellectual Property. To the extent applicable, under the United States Copyright Act all work created under this Agreement at all stages shall be and shall remain the sole and exclusive property of Antelope Recovery LLC.
16.3. Upon the expiry or termination of this Agreement as it applies to any Member or Participant, the Member or Participant will return to the Company any property, documentation, records, or Confidential Information which is the property of the Company.

# 17. Member Meetings

17.1. Member meetings will be held at the following location, or any other location that the Manager may from time to time designate: The Company's Principal Place of Business, or at any other place designated by the Manager. Members may attend in person or electronically.
17.2. Any impending Member meeting will require not less than three (3), nor more than a thirty (30) day notice be given to all Members.
17.3. Any Manager may call a meeting, provided that appropriate notice has been provided to the other Members.
17.4. Only the Members must be present at a meeting for any decisions to be binding.

# 18. Admission of New Members to this Agreement and the Participant Risk Fund

18.1. Additional, new Members shall be added to this Agreement only upon the affirmative consent of a Supermajority of the Members in accordance with Section 8.
18.2. If a new Member is added to this Agreement, such Member's Inputs shall begin at zero Inputs and increase only in accordance with the terms of the Participant Risk Fund Calculation Sheet and the Member's Offer Letter.

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18.3. Additional, new Nonmember Participants shall be added to the Participant Risk Fund only upon the written consent of the Manager ("Risk Leader"). If a new Participant is added to the Participant Risk Fund, such Participant's Inputs shall begin at zero Inputs and increase only in accordance with the terms of the Participant Risk Fund Calculation Sheet and the Participant's Offer Letter.
18.4. New Members and Participants agree to be bound by all applicable covenants, terms, and conditions of this Agreement, inclusive of all current and future amendments. Further, a new Member or Participant will execute such documents as are needed to effect the admission of the new Member or Participant.
18.5. Any new Member or Participant will receive such business interest in the Company as determined by the Members.

# 19. Cash Contributions

19.1. Any Member or Participant cash Input contribution (other than time) shall require the consent of a Simple Majority of the Members in accordance with Section 8.

# 20. Member Contribution Agreements

20.1. The Company shall maintain agreements in the form of Offer Letters with each Member or Participant specifying initial proposed function for which Member or Participant shall be responsible, along with the primary roles of such function.

# 21. Dissociation of Members or Participants from Participant Risk Fund

21.1. Except as specifically excepted by any employment or other agreement between any Member or Participant and the Company, the following provisions shall apply during the period beginning on the Effective Date and ending on the date on which the Participant Risk Fund Lock occurs.
21.2. Good Reason: For purposes of this Agreement, the term "Good Reason" shall mean a Member's or Participant's resignation from the Company only under any of the following circumstances:

21.2.1. A reduction in regular compensation paid to the Member or Participant of at least \(33\%\) unless the regular compensation of all Members and Participants is reduced by the same percentage;
21.2.2. A significant change in title or responsibilities;
21.2.3. The death of the Member or Participant;
21.2.4. The total or partial disability of the Member or Participant.

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21.3. For Cause: For purposes of this Agreement, the term "For Cause" shall mean a Member's or Participant's termination from the Company only under any of the following circumstances:

21.3.1. The conviction of a Member or Participant for any felony, or the commission by any Member or Participant of an illegal act which brings disrepute to the Company;
21.3.2. The Member's or Participant's habitual neglect of the primary duties assigned to the Member or Participant by the Company or incompetent performance of such duties, provided that the Member or Participant shall be given a fifteen (15) day period in which to rectify any such issues which are communicated to the Member or Participant by the Company in a written notice;
21.3.3. Any other activity which has been reasonably determined by the Company to be harmful to the Company, provided that the Member or Participant shall be given a fifteen (15) day period in which to rectify any such issues which are communicated to the Member or Participant by the Company in a written notice;
21.3.4. The Member's or Participant's willful disobedience or willful failure to carry out the duties assigned to such Member or Participant by the Company.

# 22. Resignation Without Good Reason

22.1. If a Member or Participant resigns from the Company without Good Reason, then as of the Effective Date, such Member's or Participant's Inputs other than time shall be aggregated to determine the actual fair market value of the Member's or Participant's Inputs, other than time and without respect to any multiplier, as of the date(s) of contribution to the Company, (such resulting value being the "Resignation Value").
22.2. The value of the resigning Member's or Participant's Inputs for all purposes of determining the Member's or Participant's Share shall be equal to the Resignation Value.
22.3. Notwithstanding any other term of this Agreement, at any time following the resigning Member's or Participant's resignation without Good Reason, the Company shall have the option (but not the requirement) in its sole discretion to pay to the Member or Participant in certified or other readily available funds an amount equal to the Resignation Value, and in such event the resigning Member's or Participant's entire Share shall be extinguished for all purposes.

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22.4. In consideration of the fact that a resigning Member or Participant will be entitled (in the sole discretion of the Company) to either retain an equity interest in the Company or be paid the Resignation Value, each Member or Participant agrees that in the event of such Member's or Participant's resignation without Good Reason, such Member or Participant shall execute and deliver to the Company as of the Effective Date of such Member's or Participant's resignation, a confidentiality and non-solicitation agreement in form and substance reasonably acceptable to the Company for the protection of the Company's legitimate business interests.
22.5. A resigning Member or Participant shall lose all current or future rights as an owner of Equity in the Company as of the Effective Date of resignation, except that a resigning Member or Participant shall retain such economic rights and obligations of the Share such Member or Participant retains.

# 23. Resignation With Good Reason and Termination Without Good Reason

23.1. If a Member or Participant resigns from the Company with Good Reason or is terminated without Good Reason, then as of the Effective Date of such event, such Member's or Participant's Inputs shall be aggregated as of the Effective Date of such event in accordance with the Participant Risk Fund Calculation Sheet, reduced by the gross amount of compensation paid to the Member or Participant without respect to any multiplier, if any, as severance (such resulting value being the "GRR Value").
23.2. The value of the Member's or Participant's Inputs for all purposes of determining the Member's or Participant's Share shall be equal to the GRR Value.
23.3. Notwithstanding any other term of this Agreement, at any time following the Member's or Participant's resignation with Good Reason or termination without Good Reason, the Company shall have the option (but not the requirement) in its sole discretion to pay to the Member or Participant in certified or other readily available funds an amount equal to the greater of the GRR Value or the fair market value of the Member's or Participant's Share, and in such event the Member's or Participant's entire Equity interest in the Company shall be extinguished for all purposes.
23.4. In the event that the Company terminates a Member without Good Reason and purchases a Member's Share and pays to the Member the GRR Value under Section 23.1, within one (1) year and prior to the closing of a Claw Back Transaction such Member shall be entitled to the full amount of consideration that would have been allocable to such Member's Share (or the Share that would have been distributed to the Member as a result of the value of the Member's Inputs) as a result of such Claw Back Transaction minus any cash payments received by the Member. For the avoidance of doubt, the Member's right to Claw Back lapses one (1) year from the date of payment to said Member. The Company and a Member

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may agree to waive its/their rights under this Section 23.4. For purposes of this Section 23.4, a “Claw Back Transaction” shall be any of the following:

23.4.1. A sale of greater than \(50\%\) of the Company's equity interests;
23.4.2. A sale of equity to the public;
23.4.3. A sale of substantially all of the Company's assets; or,
23.4.4. A merger in which the Company's equity interests following the merger represent less than \(20\%\) of the total equity interests of the newly merged Company.

23.5. A Member or Participant resigning with Good Reason or terminated without Good Reason shall lose all of such Member’s rights as a Member of the Company or as a Participant as of the Effective Date of the event, except that the Member or Participant shall retain such economic rights and obligations of the Share that such Member or Participant retains.

# 24. Termination With Good Reason

24.1. In the event that a Member or Participant is terminated from the Company For Cause, the terms of Section 22 shall apply. The Effective Date of any For Cause termination shall be the date on which written notice is delivered to the terminated Member or Participant.

# 25. Decision to Terminate

25.1. The decision to terminate a Member For Cause shall be made by the affirmative Supermajority consent of the Members in accordance with Section 8.
25.2. The decision to terminate a Participant For Cause shall be made by the affirmative Simple Majority consent of the Members in accordance with Section 8.

# 26. Buyout Agreement

26.1. In the event of a Member’s or Participant’s interest in the Company becoming for sale, due to any reason, the Company has a right of first purchase on the interest upon the Simple Majority written consent of the remaining Members. If the Company does not choose to purchase a Member or Participant’s interest in the Company then the remaining Members or a Member may purchase the interest.

# 27. Assignment of Interest

27.1. A Member or Participant may not assign or otherwise transfer their financial interest in the Company to another party without the prior, unanimous written

15

consent of the Members in accordance with Section 8. If the Members approve, then the assigning Member or Participant and the assignee or transferee forfeits any duties and rights arising from a Member's or Participant's status as a Member or Participant and those duties and rights will not be passed to the assignee or transferee. Obligations of the assignee or transferee to contribute in the same manner as the original Member are not negated by this forfeiture.

27.2. Exception for Certain Transfers. Notwithstanding anything to the contrary contained elsewhere in this Section, the transfer of any or all of a Member's Interest during the Member's lifetime or on the Member's death by will or intestacy to: (i) the Member's spouse or domestic partner; (ii) the Member's lineal descendants or antecedents, siblings, aunts, uncles, cousins, nieces and nephews (including adoptive relationships and step relationships), and their spouses or domestic partners; (iii) the lineal descendants or antecedents, siblings, cousins, aunts, uncles, nieces and nephews of Member's spouse or domestic partner (including adoptive relationships and step relationships), and their spouses or domestic partners; and, (iv) a trust or other similar estate planning vehicle for the benefit of the Member or any such person, shall be exempt from the provisions of this Section; provided that, in each such case, the transferee agrees in writing to receive and surrender all voting rights under Section 8 above and hold the Membership Interest so transferred subject to all of the provisions of this Agreement, including but not limited to this Section, and there shall be no further transfer of such Membership Interest except in accordance with the terms of this Section; and provided further, that without the prior written consent of the Company, which may be withheld in the sole discretion of the Manager, no more than three transfers may be made pursuant to this Section, including all transfers by the Member and all transfers by any assignee or transferee. For purposes of this Agreement, a person will be deemed to be a "domestic partner" of another person if the two persons: (1) reside in the same residence and plan to do so indefinitely; (2) have resided together for at least three years; (3) are each at least 18 years of age and mentally competent to consent to contract; (4) are not blood relatives any closer than would prohibit legal marriage in the state in which they reside; (5) are financially interdependent, as demonstrated to the reasonable satisfaction of the Company; and, (6) have each been the sole spouse equivalent of the other for the year prior to the transfer and plan to remain so indefinitely; provided that a person will not be considered a domestic partner if he or she is married to another person or has any other spouse equivalent.

# 28. Dissolution

28.1. The Company may be dissolved by the unanimous affirmative vote of the Members in accordance with Section 8 in accordance with Section 8 above. The Company will also be dissolved on the occurrence of events specified in the Act.

16

28.2. Upon Dissolution of the Company and liquidation of Company property, and after payment of all selling costs and expenses, the liquidator will distribute the Company assets in accordance with the terms of Section 11.2 supra.
28.3. The claims of each priority group will be satisfied in full before satisfying any claims of a lower priority group. Any excess of Company assets after liabilities or any insufficiency in Company assets in resolving liabilities under this Section 28.3 will be resolved by the Members in proportion to each Member's respective Share in the Company as set out in this Agreement.

# 29. Records

29.1. The Company will at all times maintain accurate records of the following:

29.1.1. Information regarding the status of the business and the financial condition of the Company.
29.1.2. A copy of the Company federal, state, and local income taxes for each year (promptly after becoming available).
29.1.3. Name and last known business, residential, or mailing address of each Member and Manager, as well as the date that person became a Member or Manager.
29.1.4. A copy of this Agreement and any articles or Articles of Organization, as well as all amendments, together with any executed copies of any written powers of attorney pursuant to which this Agreement, articles or certificate, and any amendments have been executed.
29.1.5. The cash, property, and services contributed to the Company by each Member, along with a description and value, and any contributions that have been agreed to be made in the future.

29.2. Each Member or Participant has the right to demand, within a reasonable period of time, a copy of any of the above documents for any purpose reasonably related to their interest as a Member of the Company, at the Company's expense.
29.3. The Manager has the right to examine the above documents for any purpose reasonably related to his or her position as Manager of the Company.

# 30. Books of Account

30.1. Accurate and complete books of account of the transactions of the Company will be kept and at all reasonable times be available and open to inspection and

17

examination by any Member. The books of account will be kept on the cash basis method of accounting.

# 31. Banking and Company Funds

31.1. The funds of the Company will be placed in such investments and banking accounts as will be designated by the Manager. All withdrawals from these accounts will be made by the duly authorized agent or agents of the Members as agreed by the Member. Company funds will be held in the name of the Company and will not be commingled with those of any other person or entity.

# 32. Audit

32.1. Only the Members (excluding Nonmember Participants) will have the right to request an audit of the Company books. The cost of the audit will be borne by the Company. The audit will be performed by an accounting firm acceptable to all the Members. Not more than one (1) audit will be required by any or all of the Members for any fiscal year.

# 33. Fiscal Year End

33.1. The fiscal year end of the Company is the 31st day of December.

# 34. Tax Treatment

34.1. This Company is intended to be treated as partnership for the purposes of Federal and State income tax.
34.2. The Partnership Representative and Company's representative under the Code will be Shelby Ann Robbins (the "Partnership Representative"). The Partnership Representative will prepare, or cause to be prepared, all tax returns and reports for the Company and make any related elections that the Members deem advisable.
34.3. A Partnership Representative may voluntarily withdraw from the position of Partnership Representative or can be appointed or replaced by the Simple Majority vote of the Members. In the event of a withdrawal of the Partnership Representative from the Company, the remaining Members will appoint a successor as soon as practicable.
34.4. The Members are authorized, upon the advice of the Company's tax counsel, to amend this Section 34.

# 35. Annual Report

35.1. As soon as practicable after the close of each fiscal year, the Company will furnish to each Member an annual report showing a full and complete account of

18

the condition of the Company including all information as will be necessary for the preparation of each Member's income or other tax returns. This report will consist of at least:

35.1.1. A copy of the Company's Federal income tax returns for that fiscal year;
35.1.2. Supporting income statement;
35.1.3. A balance sheet;
35.1.4. A cash flow statement; and,
35.1.5. A breakdown of the profit and loss attributable to each Member.

# 36. Goodwill

36.1. The goodwill of the Company will be assessed at an amount to be determined by appraisal using generally accepted accounting procedures.

# 37. Governing Law

37.1. The Members submit to the jurisdiction of the courts of the State of Colorado for the enforcement of this Agreement or any arbitration award or decision arising from this Agreement.

# 38. Mediation and Arbitration

38.1. In the event a dispute arises out of or in connection with this Agreement, the parties will attempt to resolve the dispute through friendly consultation. If the dispute is not resolved within a thirty (30) day period, then any or all outstanding issues may be submitted to mediation in accordance with any statutory rules of mediation. If mediation is not successful in resolving the entire dispute or is unavailable within a thirty (30) day period, any outstanding issues will be submitted to final and binding arbitration in accordance with the laws of the State of Colorado. The arbitrator's award will be final, and judgment may be entered upon it by any court having jurisdiction within the State of Colorado.

# 39. Force Majeure

39.1. A Member or Participant will be free of liability to the Company where the Member or Participant is prevented from executing their obligations under this Agreement in whole or in part due to force majeure, such as earthquake, typhoon, flood, fire, and war or any other unforeseen and uncontrollable event where the Member or Participant has communicated the circumstance of the event to any and all other Members and where the Member or Participant has taken any and all

19

appropriate action to satisfy his duties and obligations to the Company and to mitigate the effects of the event.

## 40. Forbidden Acts

40.1. No Member or Participant may do any act in contravention of this Agreement.
40.2. No Member or Participant may permit, intentionally or unintentionally, the assignment of express, implied or apparent authority to a third party that is not a Member of the Company.
40.3. No Member or Participant may do any act that would make it impossible to carry on the ordinary business of the Company.
40.4. No Member or Participant will have the right or authority to bind or obligate the Company to any extent with regard to any matter outside the intended purpose of the Company.
40.5. No Member or Participant may confess a judgment against the Company.
40.6. Any violation of the above forbidden acts is grounds for termination of the offending Member or Participant For Cause and may be treated accordingly by the remaining Members.

## 41. Indemnification

41.1. All Members and Participants will be indemnified and held harmless by the Company from and against any and all claims of any nature, whatsoever, arising out of a Member's or Participant's participation in Company affairs. A Member or Participant will not be entitled to indemnification under this Section 41.1 for liability arising out of gross negligence or willful misconduct of the Member or Participant or the breach by the Member or Participant of any provisions of this Agreement.

## 42. Liability

42.1. A Member, Participant, or any employee will not be liable to the Company or to any other Member or Participant for any mistake or error in judgment or for any act or omission believed in good faith to be within the scope of authority conferred or implied by this Agreement or the Company. The Member, Participant, or employee will be liable only for any and all acts and omissions involving intentional wrongdoing.

## 43. Liability Insurance

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43.1. The Company may acquire insurance on behalf of any Member, Participant, employee, agent, or other person engaged in the business interest of the Company against any liability asserted against them or incurred by them while acting in good faith on behalf of the Company.

## 44. Life Insurance

44.1. The Company will have the right to acquire life insurance on the lives of any or all Members or Participants, whenever it is deemed necessary by the Company. Each Member or Participant will cooperate fully with the Company in obtaining any such policies of life insurance.

## 45. Actions Requiring Simple Majority Consent

45.1. The following actions will require the affirmative Simple Majority consent of the Members in accordance with Section 8 by the Members:

45.1.1. Incurring Company liabilities over $1,000.

45.1.2. Incurring a single transaction expense over $1,000.

45.1.3. The sale of any Company asset with a fair market value over $1,000.

45.1.4. Hiring an employee with an annual compensation over $1,000.

45.1.5. Firing any employee.

45.1.6. Assignment of ownership rights of Company property.

45.1.7. Endangering the ownership or possession of Company property.

45.1.8. Assignment of check signing authority.

45.1.9. Releasing any Company claim except for payment in full.

45.1.10. Execution, modification and termination of leases, agreements with contractors, vendors and suppliers, and other documents and instruments relating to the operations of the Company.

45.1.11. Borrowing funds for and on behalf of the Company and executing all documents and instruments required for such purpose.

45.1.12. Prepaying, refinancing, amending, modifying, or extending any loan agreements, mortgages, or deeds in trust that may affect any

21

asset of the Company and, in connection therewith, executing for and on behalf of the Company any extensions, renewals, modifications, or terminations thereof.

45.1.13. Acquiring by purchase, articles of agreement for deed, deeds in trust, leases and other means, any real or personal property, whether tangible or intangible, from any person or entity.

45.1.14. Owning, mortgaging, encumbering, financing, constructing, rehabilitating, improving, operating, maintaining, trading, exchanging, selling, conveying, licensing, or assigning any real or personal property.

### 46. Amendment of Operating Agreement

46.1. This Agreement may only be amended with unanimous written consent of all Members.

### 47. Title to Company Property

47.1. Title to all Company property will remain in the name of the Company. No Member, Participant, or group thereof will have any ownership interest in Company property in whole or in part.

### 48. Representation Concerning Individual Advice

48.1. The parties acknowledge and agree that Sentient Law, Ltd. (“Company’s Counsel”) has prepared this Agreement on behalf of, and in the course of representing, the Company. The parties further acknowledge and agree:

48.1.1. That they have been advised by the Company’s Counsel that a conflict exists among their individual interests, and that they should seek the advice of independent legal counsel;

48.1.2. That they have had the opportunity to seek the advice of independent legal counsel;

48.1.3. That they have been advised by the Company’s Counsel that this Agreement may have tax consequences for each of them, and that they should seek the advice of independent tax counsel;

48.1.4. That they have had the opportunity to seek the advice of independent tax counsel; and,

22

48.1.5. That they have received no representations from the Company's Counsel about the tax consequences of the Agreement for them individually.

## 49. Right of First Refusal/Drag-Along Rights and Tag-Along Rights

49.1. Right of First Refusal. In the event any Member or Members propose to sell, exchange or otherwise transfer Equity of the Company to any third party in one or a series of transactions, the Member or Members shall have the right of first refusal to purchase such Equity on the same terms as the proposed third-party transferee (a "ROFR Sale").

49.2. Drag-Along Rights. Notwithstanding any other terms and conditions of this Agreement, in the event any Member or Members holding a majority of the issued and outstanding Equity of the Company (the "Majority Members") propose to sell, exchange or otherwise transfer more than fifty percent (50%) of the issued and outstanding Equity of the Company (a "Majority Interest") to any third party in one or a series of transactions (a "Drag-Along Sale"), the Majority Members shall have the right to compel each of the other Members (each, a "Drag-Along Member") to participate in any such transfer on a pro rata basis. The Majority Members shall exercise their rights pursuant to this Section 49.2 by delivering written notice (the "Drag-Along Notice") to the Company and each Drag-Along Member at least fifteen (15) days prior to the closing date of a Drag-Along Sale. The Drag-Along Notice shall describe in reasonable detail (i) the amount of Equity to be sold by the Majority Members, (ii) the identity of the third-party purchaser, (iii) the proposed date, time and location of the closing of the Drag-Along Sale, (iv) the purchase price and other material terms and conditions of the transfer, and (v) a copy of any form of agreement to be executed in connection therewith. The consideration to be received by the Drag-Along Members shall be the same form and amount of consideration for each unit of outstanding Equity to be received by the Majority Members and the terms and conditions of the transfer shall be the same as those upon which the Majority Members transfer their Equity. Each Drag-Along Member shall take all actions as may be reasonably necessary to consummate the Drag-Along Sale, including entering into agreements and delivering certificates and instruments, in each case consistent with the agreements being entered into and the certificates being delivered by the Majority Members.

49.3. Tag-Along Rights. In the event the Majority Members propose to sell, exchange or otherwise transfer a Majority Interest to any third party in one or a series of transactions and have not elected to exercise their rights under Sections 49.1 or 49.2, then each of the other Members (each, a "Tag-Along Member") shall be permitted to participate in the Tag-Along Sale at the same price and on the same terms as the Majority Members. Prior to the consummation of the Tag-Along Sale under this Section 49.3, the Majority Members shall deliver to the Company and each Tag-Along Member a written notice ("Tag-Along Notice") at least fifteen

23

(15) days prior to the closing date of the sale (a “Tag-Along Sale”). The Tag-Along Notice shall describe in reasonable detail (i) the amount of Equity to be purchased by the third-party purchaser, (ii) the identity of the third-party purchaser, (iii) the proposed date, time and location of the closing of the Tag-Along Sale, (iv) the purchase price and other material terms and conditions of the transfer, and (v) a copy of any form of agreement to be executed in connection therewith. Each Tag-Along Member shall exercise its rights under this Section 49.3 by delivering to the Majority Members a written notice stating its election to do so and specifying the amount of Equity to be transferred no later than ten (10) days after receipt of the Tag-Along Notice. The Majority Members and each Tag-Along Member shall have the right to transfer under this Section 49.3 the amount of Equity equal to the product of (x) the aggregate amount of Equity the third party purchaser proposes to buy as stated in the Tag-Along Notice and (y) a fraction (A) the numerator of which is equal to the amount of Equity then held by either the Majority Member or such Tag-Along Member, as the case may be, and (B) the denominator of which is equal to the total amount of Equity held by all of the Members. Each Tag-Along Member shall take all actions as may be reasonably necessary to consummate the Tag-Along Sale, including entering into agreements and delivering certificates and instruments, in each case consistent with the agreements being entered into and the certificates being delivered by the Majority Members.

## 50. Miscellaneous

50.1. Time is of the essence in this Agreement.

50.2. This Agreement may be executed in counterparts.

50.3. Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement. Words in the singular mean and include the plural and vice versa. Words in the masculine gender include the feminine gender and vice versa. Words in a neutral gender include the masculine gender and the feminine gender and vice versa.

50.4. If any term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties’ intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result.

50.5. THE TERMS OF THIS AGREEMENT COMBINED WITH EACH MEMBER’S OFFER LETTER COMPRISE THE ENTIRE AGREEMENT BETWEEN THE PARTIES. All negotiations and understandings have been included in this Agreement or the Member’s Offer Letter. Statements or representations that may have been made by any party to this or any other

24

Agreement in the negotiation stages may in some way be inconsistent with the final written Agreements. All such statements have no force or effect in respect to this Agreement. Only the written terms of this Agreement and each Member's Offer Letter will bind the parties.

**50.6.** This Agreement and the terms and conditions contained in this Agreement apply to and are binding upon the Member's successors, assigns, executors, administrators, beneficiaries, and representatives.

**50.7.** Any notices or delivery required here will be deemed completed when delivered electronically (via email or facsimile), hand-delivered, delivered by agent, or seven (7) days after being placed in the post, postage prepaid, to the parties at the addresses contained in this Agreement or as the parties may later designate in writing.

**50.8.** All of the rights, remedies and benefits provided by this Agreement will be cumulative and will not be exclusive of any other such rights, remedies and benefits allowed by law.

**IN WITNESS WHEREOF** the parties have duly affixed their signatures under hand and seal as of the Execution Date.

**MEMBERS**

**SHELBY ANN ROBBINS**

**RAM**

**ROBERT MACNAUGHTON**

25

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

Here is what I drafted up to share with friends and family. Please make it your own!

Hi friends and family!

I wanted to let you know some exciting news: The startup I've been working on is launching a WeFunder campaign today, opening the doors to friends and family who want to invest in the company. You may not know a ton about the company or about crowdfunding, so please read ahead if you want to learn more! Or you can visit our WeFunder page here:

https://wefunder.com/antelope

### **What is Antelope Recovery?**

I am part of the founding team at a startup called Antelope Recovery. I started working with the team a few months ago to provide some guidance on data analysis, and I ended up falling in love with their mission: Addressing the teen mental health crisis in our country. As a teen, I struggled with mental health issues and am very excited to be a part of something that could help teens like me. Which is why I decided to jump in head first as Antelope's Head of Data and Security.

As you may know, there is a mental health crisis in our country today, and teenagers are at the forefront. Issues such as anxiety, depression, self-harm and suicide are rising among American teens. According to a 2019 study, major depressive episodes and suicide rates rose 60% since 2007. Today, the greatest threat to teens is not drunk driving or smoking - it's mental health. And unfortunately adequate treatment can be hard to find, especially in rural areas.

Enter Antelope: We specialize in treating teens with addiction and mental health disorders, specifically teens in rural areas. However, mental illness affects the entire family - often in recovery, the entire family goes through a transformation so that healing can occur. For that reason, we provide mental health support to teens and their families through three different programs: intensive outpatient/ regular outpatient, teen groups, and parent courses.

I'm proud to say the company is made up of amazing, talented, and dedicated people and I truly believe we will be successful.

Please visit www.anteloperecovery.com to learn more!

### **What is WeFunder?**

Starting in May of 2016, thanks to a new law called Regulation Crowdfunding, it became legal for everyone to invest small amounts of money in the startups they believed in. From 1933 to 2016, it was illegal to make an investment in a private company unless you were an accredited investor. Thanks to the change in law, platforms like WeFunder were formed and now you can

invest in private companies at as little as $100. We wanted to run this campaign to give people who believe in our mission a real chance to partake in its success. To learn more about WeFunder itself, please visit here: https://help.wefunder.com/#/investor/getting-started-for-investors

That was a long email, so I'll leave it at that. The WeFunder page has a lot of information such as investment terms, our pitch, information about our team, and more. Feel free to reach out to me with any questions, and please do forward this along to anyone you think might be interested.

Thanks for reading!

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

## Can you vouch for John Doe?

John has applied to raise funding for Company Name on Wefunder and provided your name as a personal reference.

Quote goes here

Wefunder has raised hundreds of millions for startups that later went on to raise over $5 billion in follow-on funding from venture capitalists.

Can you vouch for John?

VOUCH FOR JOHN

LEARN MORE

### About Wefunder

We help anyone invest as little as $100 in the startups they believe in. We're also a Public Benefit Corporation with a mission to keep the American dream alive. We aim to help 20,000 founders get off the ground by 2029.

Unsubscribe | About | Education

Wefunder Inc. runs wefunder.com and is the parent company of Wefunder Advisors LLC and Wefunder Portal LLC. Wefunder Advisors is an exempt reporting adviser that advises SPVs used in Reg D offerings. Wefunder Portal is a funding portal (CRD #283503) that operates sections of wefunder.com where some Reg Crowdfunding offerings are made. Wefunder, Inc. operates sections of wefunder.com where some Reg A offerings are made. Wefunder, Inc. is not regulated as either a broker-dealer or funding portal and is not a member of FINRA.

Company Name is testing the waters to evaluate investor interest. No money or other consideration is being solicited; if sent, it will not be accepted. No offer to buy securities will be accepted. No part of the purchase price will be received until a Form C is filed and, then, only through Wefunder. Any indication of interest has no obligation or commitment of any kind.

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

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** Antelope Recovery, LLC

**Legal Status:** Limited Liability Company

**Jurisdiction of Incorporation/Organization:** CO

**Date of Organization:** 09-06-2022

**Physical Address:** 1035 Pearl Street, Boulder, CO, 80302

**Issuer Website:** www.anteloperecovery.com

**Is there a Co-Issuer?:** Yes

**Intermediary Name:** Wefunder Portal LLC

**Intermediary CIK:** 0001670254

**Intermediary File Number:** 007-00033

**Intermediary CRD Number:** 283503

### Offering Information

**Compensation to Intermediary:** 7.5% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.

**Financial Interest in Issuer:** No

**Type of Security Offered:** Other

**Other Description of Security:** Simple Agreement for Future Equity (SAFE)

**Number of Securities Offered:** 50000

**Price per Security:** $1.00

**Method for Determining Price:** Pro-rated portion of the total principal value of $50,000; interests will be sold in increments of $1; each investment is convertible to one unit as described under Item 13.

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

**Oversubscription Accepted:** Yes

**Oversubscription Allocation Type:** Other

**Description of Oversubscription:** As determined by the issuer

**Maximum Offering Amount:** $250,000.00

**Deadline to Reach Target Amount:** 04-29-2024

### Annual Report Disclosure Requirements

**Current Number of Employees:** 1

**Total Assets (Most Recent Fiscal Year):** $279.64

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

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $279.64

**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):** $0.00

**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):** $1,931.00

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

**Cost of Goods Sold (Most Recent Fiscal Year):** $675.00

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

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

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

**Net Income (Most Recent Fiscal Year):** $-16,833.00

**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, RHODE ISLAND, SOUTH CAROLINA, SOUTH DAKOTA, TENNESSEE, TEXAS, UTAH, VERMONT, VIRGINIA, WASHINGTON, WEST VIRGINIA, WISCONSIN, WYOMING, B5, GU, PR, VI, 1V

### Signatures

**Issuer:** Antelope Recovery, LLC

**Signature:** Shelby Robbins

**Title:** Founder & CEO

---

**Signature:** Shelby Robbins

**Title:** Founder & CEO

**Date:** 03-09-2023

---

**Signature:** Shelby Robbins

**Title:** Founder & CEO

**Date:** 03-09-2023