# EDGAR Filing Document

**Accession Number:** 0001954139
**File Stem:** 0001669191-23-000247
**Filing Date:** 2023-3
**Character Count:** 151017
**Document Hash:** e9ed83dc8ab2b85637b7a022b9f980b1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001669191-23-000247.hdr.sgml**: 20230314

**ACCESSION NUMBER**: 0001669191-23-000247

**CONFORMED SUBMISSION TYPE**: C/A

**PUBLIC DOCUMENT COUNT**: 8

**FILED AS OF DATE**: 20230314

**DATE AS OF CHANGE**: 20230314

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fierce & Kind Ltd.
- **CENTRAL INDEX KEY:** 0001954139
- **IRS NUMBER:** 872523565
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** C/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-31324
- **FILM NUMBER:** 23731644

**BUSINESS ADDRESS:**
- **STREET 1:** 4901 MORENA BLVD
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92117
- **BUSINESS PHONE:** 7737181098

**MAIL ADDRESS:**
- **STREET 1:** 4901 MORENA BLVD
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92117

## Ex-99

html![](offeringpage.jpg)

### Attached PDF Documents

**Attachment 1:** `offeringstatement.pdf`

# Offering Statement for Fierce & Kind Ltd.

('Fierce & Kind,' 'we,' 'our,' or the 'Company')

This document is generated by a website that is operated by Netcapital Systems LLC ('Netcapital'), which is not a registered broker-dealer. Netcapital does not give investment advice, endorsement, analysis or recommendations with respect to any securities. All securities listed here are being offered by, and all information included in this document are the responsibility of, the applicable issuer of such securities. Netcapital has not taken any steps to verify the adequacy, accuracy or completeness of any information. Neither Netcapital nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy or completeness of any information in this document or the use of information in this document.

All Regulation CF offerings are conducted through Netcapital Funding Portal Inc. ('Portal'), an affiliate of Netcapital, and a FINRA/SEC registered funding-portal. For inquiries related to Regulation CF securities activity, contact Netcapital Funding Portal Inc.:

**Paul Riss:**

paul@netcapital.com

Netcapital and Portal do not make investment recommendations and no communication, through this website or in any other medium, should be construed as a recommendation for any security offered on or off this investment platform. Equity crowdfunding investments in private placements, Regulation A, D and CF offerings, and start-up investments in particular are speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investments through equity crowdfunding tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Additionally, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns. In the most sensible investment strategy for start-up investing, start-ups should only be part of your overall investment portfolio. Further, the start-up portion of your portfolio may include a balanced portfolio of different start-ups. Investments in startups are highly illiquid and those investors who cannot hold an investment for the long term (at least 5-7 years) should not invest.

The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company's control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

## The Company

**1. What is the name of the issuer?**

Fierce & Kind Ltd.

4901 Morena Blvd

San Diego, CA 92117

## Eligibility

**2. The following are true for Fierce & Kind Ltd.:**

- Organized under, and subject to, the laws of a State or territory of the United States or the District of Columbia.
- Not subject to the requirement to file reports pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934.
- Not an investment company registered or required to be registered under the Investment Company Act of 1940.
- Not ineligible to rely on this exemption under Section 4(a)(6) of the Securities Act as a result of a disqualification specified in Rule 503(a) of Regulation Crowdfunding. (For more information about these disqualifications, see Question 30 of this Question and Answer format).
- Has filed with the Commission and provided to investors, to the extent required, the ongoing annual reports required by Regulation Crowdfunding during the two years immediately preceding the filing of this offering statement (or for such shorter period that the issuer was required to file such reports).
- Not a development stage company that (a) has no specific business plan or (b) has indicated that its business plan is to engage in a merger or acquisition with an unidentified company or companies.

**3. Has the issuer or any of its predecessors previously failed to comply with the ongoing reporting requirements of Rule 202 of Regulation Crowdfunding?**

No.

## Directors, Officers and Promoters of the Company

**4. The following individuals (or entities) represent the company as a director, officer or promoter of the offering:**

*Name*

Cynthia Smith

*Principal occupation and employment responsibilities during at least the last three (3) years with start and ending dates*

| Start Date | End Date | Company | Position / Title |
| --- | --- | --- | --- |
| 07/08/2018 | Present | Imagine Learning | Sr. Director, Global Programs |
| 07/01/2018 | 08/01/2021 | BookheadEd Learning, LLC | VP, International Business Development |
| 08/26/2021 | Present | Fierce & Kind Ltd. | Chief Operations Officer |

Bio: Cyndi Smith has a Master's Degree in Education and Social Policy from Northwestern University. She started her career journey in education, by volunteering at an adult literacy organization in Chicago. There she worked one-on-one with adults, while also managing a research project, testing an early IBM software program designed to improve literacy. As an educator, Cyndi has always seen education as one of the most powerful ways to change one's future and open opportunities for all. Learning with and from her Chicago community, Smith was exposed to what vast disparities look like within the small geographic area - where some of the country's both successful and under-supported high schools are within 10 miles of each other. Cyndi's mission has always been working to find solutions to bring the highest quality and equitable education access to all students. As a teacher in the Chicago school system, Cyndi worked with the understanding, both community experience and diversified policy development are needed to close the gap in student access to high-quality education all deserve. After finishing her teaching credentials, Cyndi became the founding teacher of an alternative high school in Chicago, IL. The mission of the school was to reduce the dropout rate by engaging community centers to bring students back to school, block by block. She helped establish the foundation of the new school, which continues to serve the community on the north side of Chicago. From there, she continued teaching English for another 10 years in Colorado and then back in the Chicago suburbs, earning the Presidential Scholar Teaching Award in 2008. In addition to her role at People's Spirit, Cyndi leads the international division of an education technology company, working with schools and governments around the world to improve student learning and opportunity. LinkedIn: https://www.linkedin.com/in/cyndi-smith-b592376/

**Name**

Basem Harb

***Principal occupation and employment responsibilities during at least the last three (3) years with start and ending dates***

| Start Date | End Date | Company | Position / Title |
| --- | --- | --- | --- |
| 08/26/2021 | Present | Fierce & Kind Ltd. | Founder & CEO |
| 04/01/2016 | Present | La Jolla YMCA | Member of Board of Directors |
| 09/01/2006 | Present | OneSphere | CEO |

Bio: A successful entrepreneur and executive in the technology space, Harb has proven experience in business execution. Harb finds success in building successful technical, sales, and marketing teams, while also creating businesses that deploy assets globally. From his first venture, CSG Visual (launched while still a student at UC San Diego), to the most current venture, the overriding goal has been to uncover and grow market opportunities. As a seasoned executive, Harb finds passion in working with younger business colleagues, working to help them uncover and develop their natural skills and career growth. A refugee from war-torn Palestine, Basem understands first-hand how global power dynamics converge to deny indigenous and BIPoC communities equity, and access to equity, in society. A social activist from the age of 15, Basem's passion for impacting the lives of communities affected by war, poverty, and underrepresentation has been a critical underpinning of his life. Oppressive stigmas, and overt and subtle racism, have undermined the ability of BIPoC communities to access the promise of potential, which should be promised to all. He now turns his attention to helping historically excluded communities to change stigmas, promote access, and build generational equity by empowering fellow members of BIPoC communities to engage with and participate in meaningful change to help create new futures. LinkedIn: https://www.linkedin.com/in/samharb/

## **Principal Security Holders**

5. Provide the name and ownership level of each person, as of the most recent practicable date, who is the beneficial owner of 20 percent or more of the issuer’s outstanding voting equity securities, calculated on the basis of voting power. To calculate total voting power, include all securities for which the person directly or indirectly has or shares the voting power, which includes the power to vote or to direct the voting of such securities. If the person has the right to acquire voting power of such securities within 60 days, including through the exercise of any option, warrant or right, the conversion of a security, or other arrangement, or if securities are held by a member of the family, through corporations or partnerships, or otherwise in a manner that would allow a person to direct or control the voting of the securities (or share in such direction or control - as, for example, a co-trustee) they should be included as being “beneficially owned.” You should include an explanation of these circumstances in a footnote to the “Number of and Class of Securities Now Held.” To calculate outstanding voting equity securities, assume all outstanding options are exercised and all outstanding convertible securities converted.

### Basem Harb

| Securities: | 9,500,000 |
| --- | --- |
| Class: | Common Stock |
| Voting Power: | 95.0% |

## Business and Anticipated Business Plan

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

For the people who care about creating a more equitable world and the companies they support, Fierce & Kind Ltd./People’s Spirit is a brand that aims to make a difference because we are owned by the people, and we plan to give to the social justice causes that improve people’s lives. We want to present a different way to participate as a consumer. We are an employee and customer-owned spirits and lifestyle company devoted to creating financial and social equity for underrepresented communities. We offer high-quality spirits direct to consumers with plans for the opportunity to own shares of the company. We plan to donate 25% of any future profits to the Fierce & Kind Foundation, a non-profit organization that works with local and national organizations to provide funding with the goal of making a difference in building community and small BIPOC businesses. Our plan is for social activists and allies to build their own wealth by buying shares in the company while supporting meaningful causes.

Fierce & Kind currently has 5 employees.

## 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.

**7. Material factors that make an investment in Fierce & Kind Ltd. speculative or risky:**

1. We face risks related to health epidemics and other outbreaks, which could significantly disrupt the Company's operations and could have a material adverse impact on us. The outbreak of pandemics and epidemics could materially and adversely affect the Company's business, financial condition, and results of operations. If a pandemic occurs in areas in which we have material operations or sales, the Company's business activities originating from affected areas, including sales, materials, and supply chain related activities, could be adversely affected. Disruptive activities could include the temporary closure of facilities used in the Company's supply chain processes, restrictions on the export or shipment of products necessary to run the Company's business, business closures in impacted areas, and restrictions on the Company's employees' or consultants' ability to travel and to meet with customers, vendors or other business relationships. The extent to which a pandemic or other health outbreak impacts the Company's results will depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of a virus and the actions to contain it or treat its impact, among others. Pandemics can also result in social, economic, and labor instability which may adversely impact the Company's business. If the Company's employees or employees of any of the Company's vendors, suppliers or customers become ill or are quarantined and in either or both events are therefore unable to work, the Company's operations could be subject to disruption. The extent to which a pandemic affects the Company's results will depend on future developments that are highly uncertain and cannot be predicted.
2. The Company may never receive a future equity financing, or undergo a liquidity event such as a sale of the Company or an initial public offering (IPO). If a liquidity event does not occur, such as a sale of the Company or an IPO, the purchasers could be left holding Company securities in perpetuity. The Company's securities have numerous transfer restrictions and will likely be highly illiquid, with potentially no secondary market on which to sell them. The securities have only a minority of voting rights and do not provide the ability to direct the Company or its actions.
3. Future fundraising may affect the rights of investors. In order to expand, the Company is raising funds, and may raise additional funds in the future, either by offerings of securities or through borrowing from banks or other sources. The terms of future capital raising, such as loan agreements, may include covenants that give creditors greater rights over the financial resources of the Company.
4. Our ability to succeed depends on how successful we will be in our fundraising efforts. We rely on investment funds in order to use resources to build the necessary tech and business infrastructure to be successful in the long-term. In the event of competitors being better capitalized than we are, that would give them a significant advantage in marketing and operations.
5. We are dependent on general economic conditions. Potential customers may be less willing to invest in innovation and forward-looking improvements if they are facing an economic downturn. This may temporarily reduce our market size. Furthermore, a global crisis might make it harder to diversify.
6. We generated no revenue for the year ended December 31, 2021 and do not currently have any material recurring sources of revenues, making it difficult to predict when we will be profitable. We expect to incur significant research and development costs for the foreseeable future. We may not be able to successfully market our products and services in the future that will generate significant revenues. In addition, any revenues that we may generate may be insufficient for us to become profitable.
7. Our financial statements include a going-concern qualification in our independent accountant's review report, which expresses substantial doubt about our ability to continue as a going concern. We have operated at a loss since inception. Our ability to operate profitably is dependent upon, among other things, obtaining additional financing for our operations. These factors, among others, raise substantial doubt about our ability to continue as a going concern. The accompanying financial statements do not include any adjustments that take into consideration the uncertainty of our ability to continue operations.

1. 8. The Company has the right to extend the Offering deadline. The Company may extend the Offering deadline beyond what is currently stated herein. This means that your investment may continue to be held in escrow while the Company attempts to raise the maximum offering amount even after the Offering deadline stated herein is reached. Your investment will not be accruing interest during this time and will simply be held until such time that Offering is closed, at which time it will be released to the Company to be used as set forth herein. Upon or shortly after release of such funds to the Company, the Securities will be issued and distributed to you.
2. 9. No governmental agency has reviewed the Company's offering and no state or federal agency has passed upon either the adequacy of the disclosure contained herein or the fairness of the terms of this offering.
3. 10. Any valuation at this stage is difficult to assess. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment. In addition, there may be additional classes of equity with rights that are superior to the class of equity being sold.
4. 11. The Company does not anticipate paying any cash dividends for the foreseeable future. The Company currently intends to retain future earnings, if any, for the foreseeable future, to repay indebtedness and to support its business. The Company does not intend in the foreseeable future to pay any dividends to holders of its shares of common stock.
5. 12. The failure to attract and retain key employees could hurt our business, and our management does not have extensive experience in the operation of businesses such as ours. Our success also depends upon our ability to attract and retain numerous highly qualified employees. Our failure to attract and retain skilled management and employees may prevent or delay us from pursuing certain opportunities. If we fail to successfully fill many management roles, fail to fully integrate new members of our management team, lose the services of key personnel, or fail to attract additional qualified personnel, it will be significantly more difficult for us to achieve our growth strategies and success.
6. 13. We are highly dependent on the services of our founder. Our future business and results of operations depend in significant part upon the continued contributions of our CEO and founder. If we lose those services or if they fail to perform in their current position, or if we are not able to attract and retain skilled employees in addition to our CEO and the current team, this could adversely affect the development of our business plan and harm our business. In addition, the loss of any other member of the board of directors or executive officers could harm the Company's business, financial condition, cash flow and results of operations.
7. 14. Our management may not be able to control costs in an effective or timely manner. The Company's management anticipates it can use reasonable efforts to assess, predict and control costs and expenses. However, implementing our business plan may require more employees, capital equipment, supplies or other expenditure items than management has predicted. Likewise, the cost of compensating employees and consultants or other operating costs may be higher than management's estimates, which could lead to sustained losses.
8. 15. Start-up investing is risky. Investing in early-stage companies is very risky, highly speculative, and should not be made by anyone who cannot afford to lose their entire investment. Unlike an investment in a mature business where there is a track record of revenue and income, the success of a startup or early-stage venture often relies on the development of a new product or service that may or may not find a market. Before investing, you should carefully consider the specific risks and disclosures related to both this offering type and the Company.
9. 16. Your shares are not easily transferable. You should not plan on being able to readily transfer and/or resell your security. Currently there is no market or liquidity for these shares and the Company does not have any plans to list these shares on an exchange or other secondary market. At some point the Company may choose to do so, but until then you should plan to hold your investment for a significant period of time before a liquidation event occurs.
10. 17. You may only receive limited disclosure. While the Company must disclose certain information, since the Company is at an early-stage they may only be able to provide limited information about its business plan and operations because it does not have fully developed operations or a long history. The Company may also only be obligated to file information periodically regarding its business, including

financial statements. A publicly listed company, in contrast, is required to file annual and quarterly reports and promptly disclose certain events - through continuing disclosure that you can use to evaluate the status of your investment.

18. Our future growth depends to a large extent on our ability to effectively anticipate and adapt to customer requirements and offer services that meet customer demands. If we are unable to attract customers and/or retain customers, our business, results of operations and financial condition may be materially adversely affected.
19. 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.

You should not rely on the fact that our Form C, and if applicable Form D is accessible through the U.S. Securities and Exchange Commission's EDGAR filing system as an approval, endorsement or guarantee of compliance as it relates to this Offering.

20. Neither the Offering nor the Securities have been registered under federal or state securities laws, leading to an absence of certain regulation applicable to the Company.

The securities being offered have not been registered under the Securities Act of 1933 (the "Securities Act"), in reliance on exemptive provisions of the Securities Act. Similar reliance has been placed on apparently available exemptions from securities registration or qualification requirements under applicable state securities laws. No assurance can be given that any offering currently qualifies or will continue to qualify under one or more of such exemptive provisions due to, among other things, the adequacy of disclosure and the manner of distribution, the existence of similar offerings in the past or in the future, or a change of any securities law or regulation that has retroactive effect. If, and to the extent that, claims or suits for rescission are brought and successfully concluded for failure to register any offering or other offerings or for acts or omissions constituting offenses under the Securities Act, the Securities Exchange Act of 1934, or applicable state securities laws, the Company could be materially adversely affected, jeopardizing the Company's ability to operate successfully. Furthermore, the human and capital resources of the Company could be adversely affected by the need to defend actions under these laws, even if the Company is ultimately successful in its defense.

21. The Company has the right to extend the Offering Deadline, conduct multiple closings, or end the Offering early.

The Company may extend the Offering Deadline beyond what is currently stated herein. This means that your investment may continue to be held in escrow while the Company attempts to raise the Minimum Amount even after the Offering Deadline stated herein is reached. While you have the right to cancel your investment up to 48 hours before an Offering Deadline, if you choose to not cancel your investment, your investment will not be accruing interest during this time and will simply be held until such time as the new Offering Deadline is reached without the Company receiving the Minimum Amount, at which time it will be returned to you without interest or deduction, or the Company receives the Minimum Amount, at which time it will be released to the Company to be used as set forth herein. Upon or shortly after release of such funds to the Company, the Securities will be issued and distributed to you. If the Company reaches the target offering amount prior to the Offering Deadline, they may conduct the first of multiple closings of the Offering prior to the Offering Deadline, provided that the Company gives notice to the investors of the closing at least five business days prior to the closing (absent a material change that would require an extension of the Offering and reconfirmation of the investment commitment). Thereafter, the Company may conduct additional closings until the Offering Deadline. The Company may also end the Offering early; if the Offering reaches its target offering amount after 21-calendar days but before the deadline, the Company can end the Offering with 5 business days' notice. This means your failure to participate in the Offering in a timely manner, may prevent you from being able to participate - it also means the Company may limit the amount of capital it can raise during the Offering by ending it early.

22. *The Company's management may have broad discretion in how the Company uses the net proceeds of the Offering.*

Despite that the Company has agreed to a specific use of the proceeds from the Offering, the Company's management will have considerable discretion over the allocation of proceeds from the Offering. You may not have the opportunity, as part of your investment decision, to assess whether the proceeds are being used appropriately.

23. *The Securities issued by the Company will not be freely tradable until one year from the initial purchase date. Although the Securities may be tradable under federal securities law, state securities regulations may apply, and each Investor should consult with his or her attorney.*

You should be aware of the long-term nature of this investment. There is not now and likely will not be a public market for the Securities. Because the Securities offered in this Offering have not been registered under the Securities Act or under the securities laws of any state or non-United States jurisdiction, the Securities have transfer restrictions and cannot be resold in the United States except pursuant to Rule 501 of Regulation CF. It is not currently contemplated that registration under the Securities Act or other securities laws will be affected. Limitations on the transfer of the shares of Securities may also adversely affect the price that you might be able to obtain for the shares of Securities in a private sale. Investors should be aware of the long-term nature of their investment in the Company. Investors in this Offering will be required to represent that they are purchasing the Securities for their own account, for investment purposes and not with a view to resale or distribution thereof.

24. *Investors will not be entitled to any inspection or information rights other than those required by Regulation CF.*

Investors will not have the right to inspect the books and records of the Company or to receive financial or other information from the Company, other than as required by Regulation CF. Other security holders of the Company may have such rights. Regulation CF requires only the provision of an annual report on Form C and no additional information - there are numerous methods by which the Company can terminate annual report obligations, resulting in no information rights, contractual, statutory or otherwise, owed to Investors. This lack of information could put Investors at a disadvantage in general and with respect to other security holders.

25. *The shares of Securities acquired upon the Offering may be significantly diluted as a consequence of subsequent financings.*

Company equity securities will be subject to dilution. Company intends to issue additional equity to future employees and third-party financing sources in amounts that are uncertain at this time, and as a consequence, holders of Securities will be subject to dilution in an unpredictable amount. Such dilution may reduce the purchaser's economic interests in the Company.

26. The amount of additional financing needed by Company will depend upon several contingencies not foreseen at the time of this Offering. Each such round of financing (whether from the Company or other investors) is typically intended to provide the Company with enough capital to reach the next major corporate milestone. If the funds are not sufficient, Company may have to raise additional capital at a price unfavorable to the existing investors. The availability of capital is at least partially a function of capital market conditions that are beyond the control of the Company. There can be no assurance that the Company will be able to predict accurately the future capital requirements necessary for success or that additional funds will be available from any source. Failure to obtain such financing on favorable terms could dilute or otherwise severely impair the value of the investor's Company securities.

27. *There is no present public market for these Securities and we have arbitrarily set the price.*

The offering price was not established in a competitive market. We have arbitrarily set the price of the Securities with reference to the general status of the securities market and other relevant factors. The Offering price for the Securities should not be considered an indication of the actual value of the Securities and is not based on our net worth or prior earnings. We cannot assure you that the Securities could be resold by you at the Offering price or at any other price.

28. In addition to the risks listed above, businesses are often subject to risks not foreseen or fully appreciated by the management. It is not possible to foresee all risks that may affect us. Moreover, the Company cannot predict whether the Company will successfully effectuate the Company's current business plan. Each prospective Investor is encouraged to carefully analyze the risks and merits of an investment in the Securities and should take into consideration when making such analysis, among other, the Risk Factors discussed above.

29. THE SECURITIES OFFERED INVOLVE A HIGH DEGREE OF RISK AND MAY RESULT IN THE LOSS OF YOUR ENTIRE INVESTMENT. ANY PERSON CONSIDERING THE PURCHASE OF THESE SECURITIES SHOULD BE AWARE OF THESE AND OTHER FACTORS SET FORTH IN THIS OFFERING STATEMENT AND SHOULD CONSULT WITH HIS OR HER LEGAL, TAX AND FINANCIAL ADVISORS PRIOR TO MAKING AN INVESTMENT IN THE SECURITIES. THE SECURITIES SHOULD ONLY BE PURCHASED BY PERSONS WHO CAN AFFORD TO LOSE ALL OF THEIR INVESTMENT.

## The Offering

Fierce & Kind Ltd. ('Company') is offering securities under Regulation CF, through Netcapital Funding Portal Inc. ('Portal'). Portal is a FINRA/SEC registered funding portal and will receive cash compensation equal to 4.9% of the value of the securities sold through Regulation CF. Investments made under Regulation CF involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest.

The Company plans to raise between $10,000 and $1,069,999 through an offering under Regulation CF. Specifically, if we reach the target offering amount of $10,000, we may conduct the first of multiple or rolling closings of the offering early if we provide 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). Oversubscriptions will be allocated on a first come, first served basis. Changes to the offering, material or otherwise, occurring after a closing, will only impact investments which have yet to be closed.

In the event The Company fails to reach the offering target of $10,000, any investments made under the offering will be cancelled and the investment funds will be returned to the investor.

### **8. What is the purpose of this offering?**

The proceeds from this offering are planned to primarily be used for acquiring inventory, marketing & promotion, hiring & compensating staff, research & formulation of spirits, and general & administrative expenses.

### **9. How does the issuer intend to use the proceeds of this offering?**

| Uses | If Target Offering Amount Sold | If Maximum Amount Sold |
| --- | --- | --- |
| Intermediary Fees | $490 | $52,430 |
| Marketing and Promotion | $4,510 | $250,000 |
| Hiring & Compensation (Sales, Marketing, Logistics) | $0 | $225,000 |
| Inventory (Aged Distilled Spirits) | $5,000 | $380,000 |
| General & Administrative | $0 | $77,000 |
| Research & Formulation | $0 | $85,569 |
| Total Use of Proceeds | $10,000 | $1,069,999 |

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

In entering into an agreement on the Netcapital Funding Portal to purchase securities, both investors and Fierce & Kind Ltd. must agree that a transfer agent, which keeps records of our outstanding Common Stock (the 'Securities'), will issue digital Securities in the investor's name (a paper certificate will not be printed). Similar to other online investment accounts, the transfer agent will give investors access to a web site to see the number of Securities that they own in our company. These Securities will be issued to investors after the deadline date for investing has passed, as long as the targeted offering amount has been reached. The transfer agent will record the issuance when we have received the purchase proceeds from the escrow agent who is holding your investment commitment.

#### 11. How can an investor cancel an investment commitment?

You may cancel an investment commitment for any reason until 48 hours prior to the deadline identified in the offering by logging in to your account with Netcapital, browsing to the Investments screen, and clicking to cancel your investment commitment. Netcapital 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.

#### 12. Can the Company perform multiple closings or rolling closings for the offering?

If we reach the target offering amount prior to the offering deadline, we may conduct the first of multiple closings of the offering early, if we provide notice about the new offering deadline at least five business days prior (absent a material change that would require an extension of the offering and reconfirmation of the investment commitment). Thereafter, we may conduct additional closings until the offering deadline. We will issue Securities in connection with each closing. Oversubscriptions will be allocated on a first come, first served basis. Changes to the offering, material or otherwise, occurring after a closing, will only impact investments which have yet to be closed.

## Ownership and Capital Structure

## The Offering

13. Describe the terms of the securities being offered.

We are issuing Securities at an offering price of $1.35 per share.

14. Do the securities offered have voting rights?

The Securities are being issued with voting rights. However, so that the crowdfunding community has the opportunity to act together and cast a vote as a group when a voting matter arises, a record owner will cast your vote for you. Please refer to the record owner agreement that you sign before your purchase is complete.

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

You are giving your voting rights to the record owner, who will vote the Securities on behalf of all investors who purchased Securities on the Netcapital crowdfunding portal.

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

Any provision of the terms of the Securities being offered may be amended, waived or modified by written consent of the majority owner(s) of the Company. We may choose to modify the terms of the Securities before the offering is completed. However, if the terms are modified, and we deem it to be a material change, we need to contact you and you will be given the opportunity to reconfirm your investment. Your reconfirmation must be completed within five business days of receipt of the notice of a material change, and if you do not reconfirm, your investment will be canceled and your money will be returned to you.

## Restrictions on Transfer of the Securities 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:

- to the issuer;
- to an accredited investor;
- as part of an offering registered with the U.S. Securities and Exchange Commission; or
- to a member of the family of the purchaser or the equivalent, to a trust controlled by the purchaser, to a trust created for the benefit of a member of the family of the purchaser or the equivalent, or in connection with the death or divorce of the purchaser or other similar circumstance.

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

The term “member of the family of the purchaser or the equivalent” includes a child, stepchild, grandchild, parent, stepparent, grandparent, spouse or spousal equivalent, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law of the purchaser, and includes adoptive relationships. The term “spousal equivalent” means a cohabitant occupying a relationship generally equivalent to that of a spouse.

## Description of Issuer’s Securities

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

# Securities

| Class of Security | Amount Authorized | Amount Outstanding | Voting Rights | Other Rights |
| --- | --- | --- | --- | --- |
| Common Stock | 20,000,000 | 10,000,000 | Yes |  |

# Options, Warrants and Other Rights

None.

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

None of the Company's existing debt is convertible into equity, and there are no warrants, options or other convertible instruments outstanding.

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

The Company has granted a perpetual waiver of the transfer restrictions listed in the Company's corporate bylaws for all Securities sold in this Offering.

20. **How could the exercise of rights held by the principal owners identified in Question 5 above affect the purchasers of Securities being offered?**

The Company's bylaws can be amended by the shareholders of the Company, and directors can be added or removed by shareholder vote. As minority owners, you are subject to the decisions made by the majority owners. The issued and outstanding common stock gives management voting control of the Company. As a minority owner, you may be outvoted on issues that impact your investment, such as the issuance of additional shares, or the sale of debt, convertible debt or assets of the Company.

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

The price of the Securities was determined solely by the management and bears no relation to traditional measures of valuation such as book value or price-to-earnings ratios. We expect that any future valuation will take the same approach.

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

As the holder of a majority of the voting rights in the Company, our majority shareholders may make decisions with which you disagree, or that negatively affect the value of your investment in the Company, and you will have no recourse to change those decisions. Your interests may conflict with the interests of other investors, and there is no guarantee that the Company will develop in a way that is advantageous to you. For example, the majority shareholders may decide to issue additional shares to new investors, sell convertible debt instruments with beneficial conversion features, or make decisions that affect the tax treatment of the Company in ways that may be unfavorable to you. Based on the risks described above, you may lose all or part of your investment in the securities that you purchase, and you may never see positive returns.

**23. What are the risks to purchasers associated with corporate actions including:**

- additional issuances of securities,
- issuer repurchases of securities,
- a sale of the issuer or of assets of the issuer or
- transactions with related parties?

The issuance of additional shares of our common stock will dilute your ownership. As a result, if we achieve profitable operations in the future, our net income per share will be reduced because of dilution, and the market price of our common stock, if there is a market price, could decline as a result of the additional issuances of securities. If we repurchase securities, so that the above risk is mitigated, and there are fewer shares of common stock outstanding, we may not have enough cash available for marketing expenses, growth, or operating expenses to reach our goals. If we do not have enough cash to operate and grow, we anticipate the market price of our stock would decline. A sale of our company or of the assets of our company may result in an entire loss of your investment. We cannot predict the market value of our company or our assets, and the proceeds of a sale may not be cash, but instead, unmarketable securities, or an assumption of liabilities. In addition to the payment of wages and expense reimbursements, we may need to engage in transactions with officers, directors, or affiliates. By acquiring an interest in the Company, you will be deemed to have acknowledged the existence of any such actual or potential related party transactions and waived any claim with respect to any liability arising from a perceived or actual conflict of interest. In some instances, we may deem it necessary to seek a loan from related parties. Such financing may not be available when needed. Even if such financing is available, it may be on terms that are materially averse to your interests with respect to dilution of book value, dividend preferences, liquidation preferences, or other terms. No assurance can be given that such funds will be available or, if available, will be on commercially reasonable terms satisfactory to us. If we are unable to obtain financing on reasonable terms, we could be forced to discontinue our operations. We anticipate that any transactions with related parties will be vetted and approved by executives(s) unaffiliated with the related parties.

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

| Creditor(s): | Notes payable |
| --- | --- |
| Amount Outstanding: | $40,449 |
| Interest Rate: | 0.0% |
| Maturity Date: | Payable On Demand |
| Other Material Terms: |  |

**25. What other exempt offerings has Fierce & Kind Ltd. conducted within the past three years?**

| Date of Offering: | 09/2021 |
| --- | --- |
| Exemption: | Section 4(a)(2) |
| Securities Offered: | Common Stock |
| Amount Sold: | $6,211 |
| Use of Proceeds: | Issuance of founder shares. |

26. Was or is the issuer or any entities controlled by or under common control with the issuer a party to any transaction since the beginning of the issuer's last fiscal year, or any currently proposed transaction, where the amount involved exceeds five percent of the aggregate amount of capital raised by the issuer in reliance on Section 4(a)(6) of the Securities Act during the preceding 12-month period, including the amount the issuer seeks to raise in the current offering, in which any of the following persons had or is to have a direct or indirect material interest:
1. any director or officer of the issuer;
2. any person who is, as of the most recent practicable date, the beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power;
3. if the issuer was incorporated or organized within the past three years, any promoter of the issuer; or
4. any immediate family member of any of the foregoing persons.

No.

## Financial Condition of the Issuer

27. Does the issuer have an operating history?

Yes.

28. Describe the financial condition of the issuer, including, to the extent material, liquidity, capital resources and historical results of operations.

People's Spirit, Inc. ("the Company") is a corporation organized under the state of California. The Company offers alcoholic spirits. Subsequent to its incorporation on August 26, 2021, the Company amended its articles of incorporation and reorganized as a public benefit corporation, and changed its name to Fierce & Kind, LTD. Under the Company's articles of incorporation, the total number of shares the Company shall have the authority to issue is 20 million shares of common stock. As of the date of the filing of this offering, 10 million shares of common stock are issued and outstanding. During 2022 the Company conducted a 10-1 stock split, effectively increasing the number of shares outstanding from 1 million to 10 million. During the same period, the Company issued a series of notes payable in exchange for cash amounting to $40,449. These notes do not have a maturity date, and carry no interest. For the year ended December 31, 2021, the company did not generate revenue, and incurred operating expenses of $6,211, resulting in a net loss of $6,211. The Company's operations in 2021 were financed by paid in capital provided by its founders. During the same period, the Company issued 1 million shares of its common stock in exchange for $6,211 in paid in capital. With this raise, Fierce & Kind Ltd. plans to use the proceeds primarily for acquiring inventory, marketing and promotion, hiring and compensating staff, research and formulation of spirits, and general and administrative expenses.

## Financial Information

29. Include the financial information specified by regulation, covering the two most recently completed fiscal years or the period(s) since inception if shorter.

See attachments:

CPA Review Report:

reviewletter.pdf

30. With respect to the issuer, any predecessor of the issuer, any affiliated issuer, any director, officer, general partner or managing member of the issuer, any beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated in the same form as described in Question 6 of this Question and Answer format, any promoter connected with the issuer in any capacity at the time of such sale, any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with such sale of securities, or any general partner, director, officer or managing member of any such solicitor, prior to May 16, 2016:

1. Has any such person been convicted, within 10 years (or five years, in the case of issuers, their predecessors and affiliated issuers) before the filing of this offering statement, of any felony or misdemeanor:
1. in connection with the purchase or sale of any security?
2. involving the making of any false filing with the Commission?
3. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities?

2. Is any such person subject to any order, judgment or decree of any court of competent jurisdiction, entered within five years before the filing of the information required by Section 4A(b) of the Securities Act that, at the time of filing of this offering statement, restrains or enjoins such person from engaging or continuing to engage in any conduct or practice:
1. in connection with the purchase or sale of any security?;
2. involving the making of any false filing with the Commission?
3. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities?

3. Is any such person subject to a final order of a state securities commission (or an agency or officer of a state performing like functions); a state authority that supervises or examines banks, savings associations or credit unions; a state insurance commission (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the U.S. Commodity Futures Trading Commission; or the National Credit Union Administration that:
1. at the time of the filing of this offering statement bars the person from:
1. association with an entity regulated by such commission, authority, agency or officer?
2. engaging in the business of securities, insurance or banking?
3. engaging in savings association or credit union activities?

2. constitutes a final order based on a violation of any law or regulation that prohibits fraudulent, manipulative or deceptive conduct and for which the order was entered within the 10-year period ending on the date of the filing of this offering statement?

4. Is any such person subject to an order of the Commission entered pursuant to Section 15(b) or 15B(c) of the Exchange Act or Section 203(e) or (f) of the Investment Advisers Act of 1940 that, at the time of the filing of this offering statement:
1. suspends or revokes such person's registration as a broker, dealer, municipal securities dealer, investment adviser or funding portal?
2. places limitations on the activities, functions or operations of such person?
3. bars such person from being associated with any entity or from participating in the offering of any penny stock?

If Yes to any of the above, explain:

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

1. any scienter-based anti-fraud provision of the federal securities laws, including without limitation Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act, Section 15(c)(1) of the Exchange Act and Section 206(1) of the Investment Advisers Act of 1940 or any other rule or regulation thereunder?
2. Section 5 of the Securities Act?
6. Is any such person suspended or expelled from membership in, or suspended or barred from association with a member of, a registered national securities exchange or a registered national or affiliated securities association for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade?
7. Has any such person filed (as a registrant or issuer), or was any such person or was any such person named as an underwriter in, any registration statement or Regulation A offering statement filed with the Commission that, within five years before the filing of this offering statement, was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is any such person, at the time of such filing, the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued?
8. Is any such person subject to a United States Postal Service false representation order entered within five years before the filing of the information required by Section 4A(b) of the Securities Act, or is any such person, at the time of filing of this offering statement, subject to a temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property through the mail by means of false representations?

Fierce & Kind Ltd. answers 'NO' to all of the above questions.

## Other Material Information

31. In addition to the information expressly required to be included in this Form, include: any other material information presented to investors; and such further material information, if any, as may be necessary to make the required statements, in the light of the circumstances under which they are made, not misleading.

The following is a transcript of a video which will be displayed on the Portal's offering page for the Company. Fierce & Kind is a real special venture for me! After starting three technology companies, this is the venture that comes from my heart, speaks to all my sensibilities about who I am and what I hope for our world. The significance of creating a spirits company goes to the very beginning of my story. On a really cold December night, my parents were christening their new home with best friends on an equally cold floor. A bottle of good whiskey sat between them and after hours of laughter, my mother went into labor. They rushed her to a hospital in Jerusalem and, well, that's how I came into this world - best friends, laughter, and damn good whiskey! I think I've just always had a good sense about stunning spirits and the friends they bring together. And no small coincidence, my name means 'to smile' and the story continues a few years later with my family coming to America as displaced people. Growing up I had a very keen sense of what it's like to be 'the other', marginalized, and a target of hate and physical violence. And you learn at that young age that its upon each of us to try and create the change that we want to see and try and create better outcomes for our families and our society as a whole. Our social and economic activism matters. And in 2022, more than ever, consumers of all stripes want to align with brands that align with their own personal values. Consumers want to engage with brands that reflect their concerns, their priorities, and that make an impact. Fierce & Kind gives those consumers a new way to participate and make their own impact. To support community work that builds social, political, economic, and climate justice for historically excluded communities. When I started my career as a teacher, my one objective was change - I wanted to find a way to challenge a system that very obviously and unfairly favored some over others. I'm excited to tackle that challenge from a new angle with Fierce & Kind. Our goal of this capital campaign is

to empower prospective investors to build a better future, while giving consumers the choice to make a difference with every purchase they make. The spirits industry is an exciting place to be - it's all about growth. Not just the growth in overall sales over the past couple years, but growth in the options you have when you go to purchase, growth in the skills of mixologists to create new experiences for us, all ways that lead to what we love about spirits - the growth of our human connections when we share a drink together. I'm really excited about Fierce & Kind because it gives me the opportunity to support causes that I care about. Being able to purchase shares in a company that's in a high growth market excites me because it gives me the opportunity to participate in both building my future as well as the futures of others at the same time. Basem and Cindy want to take a meaningful part of the value they create and want to give it back in areas such as housing, food insecurity, and other opportunities that exist in communities all around the world. When I first heard about Fierce & Kind the first thing I thought was what a great opportunity for people who haven't necessarily been included. I've been a CFO for multiple startup companies and typically it's venture capitalists and accredited investors who have the opportunity to invest in promising young startups. I'm very excited that many new folks will be able to invest in promising companies like Fierce & Kind and support Basem and Cindy as they take their company to the next level to be able to give back to so many communities in need. Fierce & Kind has come to me in a very interesting time in my life. I'm proud to be on this team and excited about the work that will change the spirits industry and expand the concepts of entrepreneurship and social responsibility. So raise your glass to all the people who carry the good causes forward and to the inevitable successes ahead. Preferably, your glass will be filled with Fierce & Kind and ideally you will own what's in it. It's about time that we own what we consume! Things can change; together, we can make them change. Invest in us so we can invest back in you.

The following documents are being submitted as part of this offering:

**Governance:**

| Certificate of Incorporation: | certificateofincorporation.pdf |
| --- | --- |
| Corporate Bylaws: | corporatebylaws.pdf |

**Opportunity:**

| Offering Page JPG: | offeringpage.jpg |
| --- | --- |

**Financials:**

| Additional Information: | otherfinancial.pdf |
| --- | --- |

## Ongoing Reporting

**32. The issuer will file a report electronically with the Securities & Exchange Commission annually and post the report on its web site, no later than 120 days after the end of each fiscal year covered by the report:**

Once posted, the annual report may be found on the issuer's web site at: https://www.fiercenkind.com

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

- the issuer is required to file reports under Section 13(a) or Section 15(d) of the Exchange Act;
- the issuer has filed at least one annual report pursuant to Regulation Crowdfunding and has fewer than 300 holders of record and has total assets that do not exceed $10,000,000;
- the issuer has filed at least three annual reports pursuant to Regulation Crowdfunding;
- the issuer or another party repurchases all of the securities issued in reliance on Section 4(a)(6) of the Securities Act, including any payment in full of debt securities or any complete redemption of

redeemable securities; or

- the issuer liquidates or dissolves its business in accordance with state law.

**Attachment 2:** `reviewletter.pdf`

# **PEOPLE'S SPIRIT, INC.**

Unaudited Financial Statements For The Year Ended December 31, 2021

Jason M. Tyra
CPA PLLC

# INDEPENDENT ACCOUNTANT'S REVIEW REPORT

To Management
People's Spirit, Inc.
San Diego, CA

We have reviewed the accompanying financial statements of People's Spirit, Inc. (a corporation), which comprise the balance sheets as of December 31, 2021, and the related statements of income, changes in shareholders' equity, and cash flows for the years then ended, and the related notes to the financial statements. A review includes primarily applying analytical procedures to management's financial data and making inquiries of company management. A review is substantially less in scope than an audit, the objective of which is the expression of an opinion regarding the financial statements as a whole. Accordingly, We do not express such an opinion.

# Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement whether due to fraud or error.

# Accountant's Responsibility

Our responsibility is to conduct the review engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. Those standards require us to perform procedures to obtain limited assurance as a basis for reporting whether We are aware of any material modifications that should be made to the financial statements for them to be in accordance with accounting principles generally accepted in the United States of America. We believe that the results of Our procedures provide a reasonable basis for Our conclusion.

# Accountant's Conclusion

Based on Our review, We are not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in accordance with accounting principles generally accepted in the United States of America.

# Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note B, certain conditions raise an uncertainty about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note B. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our conclusion is not modified with respect to this matter.

A handwritten signature in black ink, appearing to read 'Jason M. Tyra'.

Jason M. Tyra, CPA, PLLC
Dallas, TX
October 25, 2022

1700 Pacific Avenue, Suite 4710
Dallas, TX 75201
(P) 972-201-9008
(F) 972-201-9008
info@tyracpa.com
www.tyracpa.com

# PEOPLE'S SPIRIT, INC.
BALANCE SHEET
DECEMBER 31, 2021

# ASSETS

CURRENT ASSETS

Cash

$ -

TOTAL ASSETS

$ -

# LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES

Accounts Payable

TOTAL LIABILITIES

-

SHAREHOLDERS' EQUITY

Common Stock (10,000,000 shares authorized;
1,000,000 issued; no par value)

Additional Paid in Capital

Retained Deficit

6,211

(6,211)

TOTAL SHAREHOLDERS' EQUITY

-

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

$ -

See Independent Accountant's Review Report and accompanying notes, which are an integral part of these financial statements. (Unaudited) 1

# PEOPLE'S SPIRIT, INC.
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2021

Operating Expense

| Legal & Professional | 5,988 |
| --- | --- |
| General & Administrative | 133 |
| Rent | 90 |

6,211

Net Loss from Operations

(6,211)

Other Income (Expense)

-

Net Loss

$(6,211)

Net Loss Per Share

Weighted average common shares outstanding - Basic

1,000,000

Net Loss per share

$(0.006)

See Independent Accountant's Review Report and accompanying notes, which are an integral part of these financial statements. (Unaudited)

2

# PEOPLE'S SPIRIT, INC.
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2021

Cash Flows From Operating Activities

| Net Loss For The Period | $(6,211) |
| --- | --- |

| Net Cash Flows From Operating Activities | (6,211) |
| --- | --- |

Cash Flows From Financing Activities

| Increase in Additional Paid In Capital | 6,211 |
| --- | --- |

| Net Cash Flows From Financing Activities | 6,211 |
| --- | --- |

Cash at Beginning of Period

| Net Increase In Cash | - |
| --- | --- |

| Cash at End of Period | $ - |
| --- | --- |

See Independent Accountant's Review Report and accompanying notes, which are an integral part of these financial statements. (Unaudited)

3

# **PEOPLE'S SPIRIT, INC.**  
 **STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY**  
 **FOR THE YEAR ENDED DECEMBER 31, 2021**

|  | Common Stock |  | Additional Paid in Capital | Retained Deficit | Total Shareholders' Equity |
| --- | --- | --- | --- | --- | --- |
|  | Number | Amount |  |  |  |
| Balance at August 26, 2021 (Inception) | - | $ - | $ - | $ - | $ - |
| Issuance of Stock | 1,000,000 | - | 6,211 |  | 6,211 |
| Net Loss |  |  |  | (6,211) | (6,211) |
| Balance at December 31, 2021 | 1,000,000 | $ - | $6,211 | $(6,211) | $ - |

See Independent Accountant's Review Report and accompanying notes, which are an integral part of these financial statements. (Unaudited)

4

# PEOPLE'S SPIRIT, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)  
DECEMBER 31, 2021---

# **NOTE A- ORGANIZATION AND NATURE OF ACTIVITIES**

People's Spirit, Inc. ('the Company') is a corporation organized under the state of California. The Company offers alcoholic spirits.

Subsequent to the period, the Company amended its articles of incorporation and reorganized as a public-benefit corporation, had its Company name changed to Fierce & Kind, LTD.

# **NOTE B- GOING CONCERN MATTERS**

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue in operation for the foreseeable future. However, management has identified the following conditions and events that created an uncertainty about the ability of the Company to continue as a going concern. The Company sustained a net operating loss in 2021 of $6,211.

The following describes management's plans that are intended to mitigate the conditions and events that raise substantial doubt about the Company's ability to continue as a going concern. The Company plans to raise funds to continue operations through a Reg CF offering and continue to contribute personal funds to maintain operations in the event of a shortfall of cash. The Company's ability to meet its obligations as they become due is dependent upon the success of management's plans, as described above.

These conditions and events create an uncertainty about the ability of the Company to continue as a going concern through October 21, 2023 (one year after the date that the financial statements are available to be issued). The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

# **NOTE C- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

# Basis of Presentation

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ('US GAAP'). The Company's fiscal year ends December 31.

# Significant Risks and Uncertainties

The Company is subject to customary risks, but not limited to, the need for protection of intellectual property, dependence on key personnel, costs of services provided by third parties, the need to obtain additional financing, and limited operating history.

The Company currently has no developed products for commercialization and there can be no assurance that the Company's research and development will be successfully commercialized. Developing and commercializing a product requires significant capital, and based on the current operating plan, the Company expects to continue to incur operating losses as well as cash outflows from operations in the near term.

5

# PEOPLE'S SPIRIT, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)---

### Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Changes in estimates are recorded in the period they are made. Actual results could differ from those estimates.

### Cash and Cash Equivalents

Cash and cash equivalents include all cash balances, and highly liquid investments with maturities of three months or less when purchased.

### Rent

The Company currently occupies storage space on a needed basis under a month-to-month lease agreement.

### Advertising

The Company records advertising expenses in the year incurred.

### Equity Based Compensation

The Company accounts for stock options issued to employees under ASC 718 (Stock Compensation). Under ASC 718, share-based compensation cost to employees is measured at the grant date, based on the estimated fair value of the award, and is recognized as an item of expense ratably over the employee's requisite vesting period. The Company has elected early adoption of ASU 2018-07, which permits measurement of stock options at their intrinsic value, instead of their fair value. An option's intrinsic value is defined as the amount by which the fair value of the underlying stock exceeds the exercise price of an option. In certain cases, this means that option compensation granted by the Company may have an intrinsic value of $0.

The Company measures compensation expense for its non-employee stock-based compensation under ASC 505 (Equity). The fair value of the option issued or committed to be issued is used to measure the transaction, as this is more reliable than the fair value of the services received. The fair value is measured at the value of the Company's common stock on the date that the commitment for performance by the counterparty has been reached or the counterparty's performance is complete. The fair value of the equity instrument is charged directly to expense and credited to additional paid-in capital.

### Income Taxes

In December 2017, the Tax Cuts and Jobs Act (the 'Tax Act') was enacted into law and the new legislation contains several key tax provisions that affected the Company, including a reduction of the corporate income tax rate to 21% effective January 1, 2018, among others. The Company is required to recognize the effect of the tax law changes in the period of enactment, such as determining the transition tax, remeasuring deferred tax assets and liabilities, as well as reassessing the net realizability of our deferred tax assets and liabilities. The tax rate change had no impact to the Company's net loss as the Company

6

# PEOPLE'S SPIRIT, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)

has not incurred a tax liability or expense for the year ended December 31, 2021 and has a full valuation allowance against its net deferred tax assets.

The Company applies ASC 740 Income Taxes ('ASC 740'). Deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial statement reported amounts at each period end, based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The provision for income taxes represents the tax expense for the period, if any and the change during the period in deferred tax assets and liabilities. ASC 740 also provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. A tax benefit from an uncertain position is recognized only if it is 'more likely than not' that the position is sustainable upon examination by the relevant taxing authority based on its technical merit.

The Company is subject to tax filing requirements as a corporation in the federal jurisdiction of the United States. The Company sustained a net operating loss during the year ended December 31, 2021. Net operating losses will be carried forward to reduce taxable income in future years. Due to management's uncertainty as to the timing and valuation of any benefits associated with the net operating loss carryforwards, the Company has elected to recognize an allowance to account for them in the financial statements, but has fully reserved it. Under current law, net operating losses may be carried forward indefinitely.

The Company is subject to franchise and income tax filing requirements in the State of California.

#### Net Income Per Share

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

#### Recently Adopted Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board, or FASB, or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.

In November 2015, the FASB issued ASU (Accounting Standards Update) 2015-17, *Balance Sheet Classification of Deferred Taxes*, or ASU 2015-17. The guidance requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. For all entities other than public business entities, the guidance becomes effective for financial statements issued for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted for all entities as of the beginning of an interim or annual reporting period. The adoption of ASU 2015-17 had no material impact on the Company's financial statements and related disclosures.

7

# PEOPLE'S SPIRIT, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)

In November 2016, the FASB issued ASU 2016-18, *Statement of Cash Flows (Topic 230), Restricted Cash*, or ASU 2016-18. The amendments of ASU 2016-18 were issued to address the diversity in classification and presentation of changes in restricted cash and restricted cash equivalents on the statement of cash flows which is currently not addressed under Topic 230. ASU 2016-18 would require an entity to include amounts generally described as restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning of period and end of period total amounts on the statement of cash flows. This guidance is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2018 for non-public entities. Early adoption is permitted, and the standard must be applied retrospectively. The adoption of ASU 2016-18 had no material impact on the Company's financial statements and related disclosures.

In May 2014, the FASB issued ASU, 2014-09-*Revenue from Contracts with Customers (Topic 606)*, or ASU 2014-09, and further updated through ASU 2016-12, or ASU 2016-12, which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount to which an entity expects to be entitled to when products are transferred to customers. This guidance is effective for annual reporting periods, and interim periods within those years, beginning December 15, 2018 for non-public entities. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The adoption of ASU 2014-09 had no material impact on the Company's financial statements and related disclosures.

In February 2016, the FASB issued ASU 2016-02, *Leases (Topic 842)*, or ASU 2016-02, which supersedes the guidance in ASC 840, *Leases*. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. This guidance is effective for annual reporting periods beginning after December 15, 2019 for non-public entities. The adoption of ASU 2016-02 had no material impact on the Company's financial statements and related disclosures.

In March 2016, the FASB issued ASU 2016-09, *Improvements to Employee Share-based Payment Accounting*, or ASU 2016-09. ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some of the areas of simplification apply only to non-public companies. This guidance was effective on December 31, 2016 for public entities. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted for an entity in any interim or annual period for which financial statements have not been issued or made available for issuance. An entity that elects early adoption must adopt all amendments in the same period. The adoption of ASU 2016-09 had no material impact on the Company's financial statements and related disclosures.

In May 2017, the FASB issued ASU 2017-09, *Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting*, or ASU 2017-09, which clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. This guidance is effective for

8

# PEOPLE'S SPIRIT, INC.
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)

annual reporting periods, and interim periods within those years, beginning after December 15, 2017, for both public entities and non-public entities. Early adoption is permitted. The adoption of ASU 2017-09 had no material impact on the Company's financial statements and related disclosures.

# NOTE D- EQUITY

Under the Company's original articles of incorporation, the Company is authorized to issue up to 10,000,000 shares of no-par value Common Stock.

Common Stock: Common shareholders have the right to vote on certain items of Company business at the rate of one vote per share of stock.

As of December 31, 2021, the number of shares issued and outstanding by class was as follows:

| Common Stock | 1,000,000 |
| --- | --- |

During 2022, the company amended and restated their articles of incorporation to increased the number of authorized common shares to 20,000,000 at $0.0001 par value.

# NOTE E- FAIR VALUE MEASUREMENTS

Fair value is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based on the highest and best use of the asset or liability. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The Company uses valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized as follows:

- *Level 1* - Observable inputs, such as quoted prices for identical assets or liabilities in active markets;
- *Level 2* - Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly, such as quoted prices for similar assets or liabilities, or market-corroborated inputs; and
- *Level 3* - Unobservable inputs for which there is little or no market data which require the reporting entity to develop its own assumptions about how market participants would price the assets or liabilities.

The valuation techniques that may be used to measure fair value are as follows:

*Market approach* - Uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

*Income approach* - Uses valuation techniques to convert future amounts to a single present amount based on current market expectations about those future amounts, including present value techniques, option-pricing models, and excess earnings method.

*Cost approach* - Based on the amount that currently would be required to replace the service capacity of an asset (replacement cost).

9

# PEOPLE'S SPIRIT, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)---

# NOTE F- CONCENTRATIONS OF RISK

Financial instruments that potentially subject the Company to credit risk consist of cash and cash equivalents. The Company places its cash and cash equivalents with a limited number of high-quality financial institutions and at times may exceed the amount of insurance provided on such deposits.

# NOTE G- SUBSEQUENT EVENTS

Management considered events subsequent to the end of the period but before October 25, 2022, the date that the financial statements were available to be issued.

In 2022, the company issued a series of notes payable in exchange for cash amounting to $40,449.

10

**Attachment 3:** `certificateofincorporation.pdf`

For Office Use Only

-FILED-

File No.: BA20221000170

Date Filed: 10/14/2022

### AMENDED AND RESTATED
ARTICLES OF INCORPORATION

### OF
PEOPLE'S SPIRIT, INC.
A CALIFORNIA BENEFIT CORPORATION

The undersigned hereby certify that:

1. He is the Chief Executive Officer and Secretary of People's Spirit, Inc., a California benefit corporation, with California Entity Number 4783444.
2. The Articles of Incorporation of the corporation are amended and restated to read in full as follows:

### ARTICLE I

The name of the corporation is Fierce & Kind Ltd.

### ARTICLE II

- The purpose of the corporation is to engage in any lawful act or activity for which a corporation may be organized under the General Corporation Law of California other than the banking business, the trust company business or the practice of a profession permitted to be incorporated by the California Corporations Code.
- This corporation is a benefit corporation as contemplated by the California Corporations Code as the same exists or may hereafter be amended, or any successor provisions, that is intended to operate in a responsible and sustainable manner and to produce a public benefit or benefits and is to be managed in a manner that balances the shareholders' pecuniary interests, the best interests of those materially affected by the corporation's conduct, and the public benefits identified in these Amended and Restated Articles of Incorporation. If the California Corporations Code is amended to alter or further define the management and operation of benefit corporations, then this corporation shall be managed and operated in accordance with the California Corporations Code, as so amended.
- In addition to being authorized to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of California (other than as set forth above), this corporation's specific public benefit purpose shall be to drive economic equity in underserved communities by contributing to programming around education and entrepreneurship, health and well-being, and social justice.

SMRH:4873-7495-9139.7

-1-

B1166-1298 10/14/2022 5:00 PM Received by California Secretary of State

### ARTICLE III

The corporation is authorized to issue one class of stock to be designated "Common Stock." The total number of shares of Common Stock that the corporation is authorized to issue is 20,000,000, with a par value of $0.0001 per share. Upon the effective date of these Amended and Restated Articles of Incorporation, each one (1) outstanding share of the Company's Common Stock shall be recapitalized and reconstituted as ten (10) shares of the Company's Common Stock.

### ARTICLE IV

The business and affairs of the corporation shall be managed by or under the direction of the board of directors. In furtherance and not in limitation of the powers conferred by statute, except as provided in Section 212 of the California Corporations Code, the board of directors is expressly authorized to make, repeal, alter, amend and rescind any or all of the bylaws of the corporation. The number of directors of the corporation shall be determined in the manner set forth in the bylaws of the corporation. Elections of directors need not be by written ballot unless a shareholder demands election by ballot at the applicable meeting of the shareholders and before the voting begins or unless the bylaws of the corporation shall so require.

### ARTICLE V

To the fullest extent permitted by law, a director of the corporation shall not be personally liable to the corporation or its shareholders for monetary damages for breach of fiduciary duty as a director. If the California Corporations Code or any other law of the State of California is amended after approval by the shareholders of this Article V to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director of the corporation shall be eliminated or limited to the fullest extent permitted by the California Corporations Code as so amended.

Any repeal or modification of the foregoing provisions of this Article V by the shareholders of the corporation shall not adversely affect any right or protection of a director of the corporation existing at the time of, or increase the liability of any director of the corporation with respect to any acts or omissions of such director occurring prior to, such repeal or modification.

### ARTICLE VI

To the fullest extent permitted by applicable law, the corporation is authorized to provide indemnification of (and advancement of expenses to) directors, officers and agents of the corporation (and any other persons to which the California Corporations Code permits the corporation to provide indemnification) through bylaw provisions, agreements with such agents or other persons, vote of shareholders or disinterested directors or otherwise, in excess of the indemnification and advancement otherwise permitted by Section 317 of the California Corporations Code. For the avoidance of doubt, and notwithstanding the foregoing, in no event is the corporation authorized to indemnify (or otherwise eliminate or limit the personal liability of) directors, officers and agents of the corporation for acts or omissions or transactions (i) from which

SMRH:4873-7495-9139.7

-2-

B1166-1299 10/14/2022 5:00 PM Received by California Secretary of State

a director may not be relieved of liability as set forth in Section 204(a)(10) of the California Corporations Code; (ii) to the extent indemnity (or any other limitation of liability) is expressly prohibited by Section 317 of the California Corporations Code; or (iii) to the extent otherwise prohibited by any applicable law.

Any amendment, repeal or modification of the foregoing provisions of this Article VI shall not adversely affect any right or protection of any director, officer or other agent of the corporation existing at the time of such amendment, repeal or modification.

### ARTICLE VII

Except as otherwise provided in these Amended and Restated Articles of Incorporation, the corporation reserves the right to amend, alter, change or repeal any provision contained in these Amended and Restated Articles of Incorporation, in the manner now or hereafter prescribed by statute, and to add or insert other provisions authorized by the laws of the State of California at the time in force, in the manner now or hereafter prescribed by law, and all rights, preferences and privileges of whatsoever nature conferred upon shareholders, directors or any other persons whomsoever by and pursuant to these Amended and Restated Articles of Incorporation in its present form or as hereafter amended are granted subject to the rights reserved in this Article VII.

***

3. The foregoing amendment and restatement of Articles of Incorporation has been adopted and approved by the board of directors of the corporation.
4. The foregoing amendment and restatement of Articles of Incorporation has been approved by the required vote of shareholders in accordance with Sections 902 and 903 of the California Corporations Code, as well as Section 14601(d) of the California Corporations Code made applicable by Section 14603 of the California Corporations Code.
5. The total number of outstanding shares of each class entitled to vote with respect to the foregoing amendment and restatement of Articles of Incorporation is one million (1,000,000) shares of Common Stock, and each share of Common Stock is entitled to one (1) vote. No other shares of the Company's capital stock were issued and outstanding as of immediately prior to the filing of these Amended and Restated Articles of Incorporation.
6. The percentage vote required of the Common Stock (which represents all of the shares of each class entitled to vote) in order to approve the foregoing amendment and restatement of Articles of Incorporation is sixty-six and two-thirds percent (66 2/3%) or more.
7. The number of shares of Common Stock voting in favor of the foregoing amendment and restatement of Articles of Incorporation is one million (1,000,000), which represents one hundred percent (100%) of the shares of Common Stock issued and outstanding as of immediately prior to the filing of these Amended and Restated Articles of Incorporation.

[Remainder of Page Intentionally Left Blank]

SMRH:4873-7495-9139:7

-3-

B1166-1300 10/14/2022 5:00 PM Received by California Secretary of State

I further declare, under penalty of perjury, under the laws of the State of California, that the matters set forth in this Certificate are true and correct as of my own knowledge.

Date: September 22, 2022

Sam Harb, Chief Executive Officer and Secretary

SMRH:4873-7495-9139.7

-4-

B1166-1301 10/14/2022 5:00 PM Received by California Secretary of State

# **AMENDED AND RESTATED
ARTICLES OF INCORPORATION
OF
PEOPLE'S SPIRIT, INC.
A CALIFORNIA BENEFIT CORPORATION**

The undersigned hereby certify that:

1. He is the Chief Executive Officer and Secretary of People's Spirit, Inc., a California benefit corporation, with California Entity Number 4783444.
2. The Articles of Incorporation of the corporation are amended and restated to read in full as follows:

# **ARTICLE I**

The name of the corporation is People's Spirit, Inc.

# **ARTICLE II**

The address of the corporation's registered office in the State of California is 4901 Morena Blvd., Ste. 206, San Diego, CA 92117. The name and address of its registered agent is David Lizerbram at 3180 University Ave., Ste. 260, San Diego, CA 92104.

# **ARTICLE III**

- This corporation is a benefit corporation as contemplated by the General Corporation Law of California as the same exists or may hereafter be amended (the "CGCL"), or any successor provisions, that is intended to operate in a responsible and sustainable manner and to produce a public benefit or benefits and is to be managed in a manner that balances the stockholders' pecuniary interests, the best interests of those materially affected by the corporation's conduct, and the public benefits identified in these Amended and Restated Articles of Incorporation. If the CGCL is amended to alter or further define the management and operation of benefit corporations, then this corporation shall be managed and operated in accordance with the CGCL, as so amended.
- In addition to being authorized to engage in any lawful act or activity for which corporations may be organized under the CGCL, this corporation's specific public benefit purpose shall be to drive economic equity in underserved communities by contributing to programming around education and entrepreneurship, health and well-being, and social justice.

SMRH:4873-7495-9139.1
060222

-1-

80NB-CW80NB

# ARTICLE IV

The corporation is authorized to issue one class of stock to be designated '*Common Stock*.' The total number of shares of Common Stock that the corporation is authorized to issue is 20,000,000, with a par value of $0.0001 per share. Upon the effective date of these Amended and Restated Articles of Incorporation, each one (1) outstanding share of the Company's Common Stock shall be recapitalized and reconstituted as ten (10) shares of the Company's Common Stock.

# ARTICLE V

The business and affairs of the corporation shall be managed by or under the direction of the board of directors. In furtherance and not in limitation of the powers conferred by statute, the board of directors is expressly authorized to make, repeal, alter, amend and rescind any or all of the bylaws of the corporation. The number of directors of the corporation shall be determined in the manner set forth in the bylaws of the corporation. Elections of directors need not be by written ballot unless the bylaws of the corporation shall so provide.

# ARTICLE VI

To the fullest extent permitted by law, a director of the corporation shall not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director. If the CGCL or any other law of the State of California is amended after approval by the stockholders of this Article VI to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director of the corporation shall be eliminated or limited to the fullest extent permitted by the CGCL as so amended.

Any repeal or modification of the foregoing provisions of this Article VI by the stockholders of the corporation shall not adversely affect any right or protection of a director of the corporation existing at the time of, or increase the liability of any director of the corporation with respect to any acts or omissions of such director occurring prior to, such repeal or modification.

# ARTICLE VII

To the fullest extent permitted by applicable law, the corporation is authorized to provide indemnification of (and advancement of expenses to) directors, officers and agents of the corporation (and any other persons to which the CGCL permits the corporation to provide indemnification) through bylaw provisions, agreements with such agents or other persons, vote of stockholders or disinterested directors or otherwise, in excess of the indemnification and advancement otherwise permitted by Section 317 of the CGCL.

Any amendment, repeal or modification of the foregoing provisions of this Article VII shall not adversely affect any right or protection of any director, officer or other agent of the corporation existing at the time of such amendment, repeal or modification.

SMRH-4873-7495-9139.1  
060222

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## ARTICLE VIII

Except as otherwise provided in this Amended and Restated Articles of Incorporation, the corporation reserves the right to amend, alter, change or repeal any provision contained in this Amended and Restated Articles of Incorporation, in the manner now or hereafter prescribed by statute, and to add or insert other provisions authorized by the laws of the State of California at the time in force, in the manner now or hereafter prescribed by law, and all rights, preferences and privileges of whatsoever nature conferred upon stockholders, directors or any other persons whomsoever by and pursuant to this Amended and Restated Articles of Incorporation in its present form or as hereafter amended are granted subject to the rights reserved in this Article VIII.

***

3. The foregoing amendment and restatement of Articles of Incorporation has been adopted by the board of directors of the corporation.

4. The foregoing amendment and restatement of Articles of Incorporation has been duly approved by the required vote of the shareholders of this corporation in accordance with Sections 902 and 903 of the California Corporations Code.

*[Remainder of Page Intentionally Left Blank]*

SMRH:4873-7495-9139.1
060222

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80NB-CW80NB

I further declare, under penalty of perjury, under the laws of the State of California, that the matters set forth in this Certificate are true and correct as of my own knowledge.

Date: June 6, 2022

DocuSigned by:  
EBBC019064444D9

Sam Harb, Chief Executive Officer and Secretary

Signature Page to Amended and Restated Articles of Incorporation of People's Spirit, Inc.

FILED
Secretary of State
State of California
4783444
Filing Number
08/26/2021
Filing Date

# ARTICLES OF INCORPORATION OF A GENERAL STOCK
CORPORATION

# ARTICLE 1

Corporate Name

The name of the corporation is: People's Spirit, Inc.

# ARTICLE 2

Business Address

The street address and mailing address of the Corporation is:

4901 Morena Blvd., Ste. 206
San Diego, CA 92117

# ARTICLE 3

Initial Agent for Service of Process

The name and address of the initial agent for service of process is:

David Lizerbram
3180 University Ave., Ste. 260
San Diego, CA 92104

# ARTICLE 4

Shares

The corporation is authorized to issue only one class of shares of stock. The total number of shares which this corporation is authorized to issue is: 10,000,000.

# ARTICLE 5

Purpose Statement

The purpose of the corporation is to engage in any lawful act or activity for which a corporation may be organized under the General Corporation Law of California other than the banking business, the trust company business or the practice of a profession permitted to be incorporated by the California Corporations Code.

Articles of Incorporation - 1
People's Spirit, Inc.

4783444

# ARTICLE 6
Additional Statements

The corporation does indemnify any of the directors from any liability regarding the corporation, the affairs of the corporation and monetary damages, unless the person fraudulently and intentionally violated the law and/or maliciously conducted acts to damage and/or defraud the corporation, or as otherwise provided under applicable California statute.

\_\_\_\_\_  
Signature

David Lizerbram, Incorporator

Articles of Incorporation - 2
People's Spirit, Inc.

**Attachment 4:** `corporatebylaws.pdf`

BYLAWS

FIERCE & KIND LTD

a California Corporation

# FIERCE & KIND LTD

\*\*\*\*\*

## BYLAWS

\*\*\*\*\*

### ARTICLE 1

#### Shareholders

1.1 **Annual Meetings.** An annual meeting of shareholders for the purposes of electing directors and transacting such other business as may come before it shall be held at such date and time as shall be designated from time to time by the Board of Directors or the President.

1.2 **Special Meetings.** Special meetings of shareholders, for any purpose or purposes, may be held at any time upon call of the Chairman of the Board of Directors, if any, the President, the Secretary, or a majority of the Board of Directors. A special meeting of shareholders shall be called by the President or the Secretary upon the written request, stating the date and time and the purpose or purposes of the meeting, of shareholders who together own as of record 50% of the outstanding stock of all classes entitled to vote at such meeting.

1.3 **Place of Meetings.** Meetings of the shareholders may be held at such place, either within or without the State of California, as may be determined by the Board of Directors. The Board of Directors may in its sole discretion determine that the meeting shall not be held at any place but may instead be held solely by means of remote communication. As to any such meeting by remote communication authorized by the Board of Directors in its sole discretion, and subject to such guidelines and procedures as the Board of Directors may adopt for such meeting, shareholders and proxyholders not physically present at such meeting of the shareholders shall be entitled to (i) participate in such meeting of the shareholders and (ii) be deemed present in person and vote at such meeting of the shareholders whether such meeting is to be held at a designated place or solely by means of remote communication, provided that (A) the Corporation shall implement reasonable measures to verify that each person deemed present and permitted to vote at the meeting by means of remote communication is a shareholder or proxyholder, (B) the Corporation shall implement reasonable measures to provide shareholders and proxyholders a reasonable opportunity to participate in the meeting and to vote on matters submitted to the shareholders, including an opportunity to read or hear the proceedings substantially concurrently with such proceedings, and (C) if any shareholder or proxyholder votes or takes other action at the meeting by means of remote communication, a record of such vote or other action shall be maintained by the Corporation.

1.4 **Notice of Meeting.** Except as otherwise provided by law or the Articles of Incorporation, notice given in writing or by electronic transmission of each meeting of shareholders shall be given not less than 10 (or, if sent by third-class mail, 30) nor more than 60 days before the date of the meeting to each shareholder entitled to vote at such meeting, such notice to specify the date and time, the place (if any), the purpose or purposes of the meeting and the means of remote communications, if any, by which shareholders and proxyholders may be deemed to be present in person and vote at such meeting. Without limiting the manner by which notice otherwise may be given to shareholders, any notice shall be effective if given by a form of electronic transmission consented to (in a manner consistent with the California Corporations Code) by the shareholder to whom the notice is given, and such notice shall be deemed to be

Fierce & Kind Ltd. Bylaws

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given at the time, if delivered by electronic mail when directed to an electronic mail address at which the shareholder has consented to receive notice, and if delivered by any other form of electronic transmission when directed to the shareholder. Notice of the date and time, the place (if any), and purpose of any meeting of shareholders may be waived (1) in writing signed by the person entitled to notice thereof or (2) by electronic transmission made by the person entitled to notice, either before or after such meeting. Notice will be waived by any shareholder by his attendance thereat in person, by remote communication, or by proxy, except when the shareholder attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Any shareholder so waiving notice of such meeting shall be bound by the proceedings of any such meeting in all respects as if due notice thereof had been given.

1.5 **Quorum.** Except as otherwise provided by law or in the Articles of Incorporation or these Bylaws, at any meeting of shareholders, the holders of a majority of the outstanding shares of each class of stock entitled to vote thereat shall be present or represented by proxy in order to constitute a quorum for the transaction of any business, except that in no event shall a quorum consist of less than one-third of the shares entitled to vote at the meeting. In the absence of a quorum, a majority in interest of the shareholders present or the Chairman of the meeting may adjourn the meeting from time to time in the manner provided in Section 1.6 of these Bylaws until a quorum shall attend.

1.6 **Adjournments.** Any meeting of shareholders, annual or special, may adjourn from time to time to reconvene at the same or some other place and notice need not be given of any such adjourned meeting if the time and place thereof are announced at the meeting at which the adjournment is taken. At the adjourned meeting, the Corporation may transact any business, which might have been transacted at the original meeting. If the adjournment is for more than 30 days, or if after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each shareholder of record entitled to vote at the meeting.

1.7 **Organization.** The Chairman of the Board of Directors, if any, or in his or her absence the President, or in their absence any Vice President, shall call to order meetings of shareholders and shall act as Chairman of the meeting. The Board of Directors or, if the Board of Directors fails to act, the shareholders, may appoint any shareholder, director or officer of the Corporation to act as Chairman of any meeting in the absence of the Chairman of the Board of Directors, the President, and the Secretary. The Secretary of the Corporation shall act as secretary of all meetings of shareholders, but, in the absence of the Secretary, the Chairman of the meeting may appoint any other person to act as secretary at the meeting.

1.8 **Voting.** Except as otherwise provided by law or in the Articles of Incorporation or these Bylaws and except for the election of directors, at any meeting duly called and held at which a quorum is present, a majority of the votes cast at such meeting upon a given question by the holders of the outstanding shares of stock of all classes of stock of the Corporation entitled to vote thereon who are present in person or by proxy shall decide such question. At any meeting duly called and held for the election of directors at which a quorum is present, those directors receiving a plurality of the votes cast by the holders (acting as such) of shares of stock of the Corporation entitled to elect directors as a class shall be elected.

1.9 **Actions Without a Meeting.** Unless otherwise provided in the Articles of Incorporation or these Bylaws, any action required or permitted to be taken at any meeting of shareholders may be taken without a meeting, without prior notice and without a vote, if a

Fierce & Kind Ltd. Bylaws

Page 3 of 10

consent thereto in writing or by electronic transmission, setting forth the action so taken, shall be signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted, and such writing or writings or electronic transmission or transmissions are filed with the minutes of proceedings of the shareholders. Such filing shall be in paper form if the minutes are maintained in paper form and shall be in electronic form if the minutes are maintained in electronic form.

## ARTICLE II

### Board of Directors

2.1 **Number and Terms of Office.** The business and affairs of the Corporation shall be managed by or under the direction of a board of not less than one (1) nor more than four (4) directors; provided, however, that (1) before shares are issued, the number may be one, (2) so long as the Corporation has only one shareholder, the number may be one, and (3) so long as the Corporation has only two shareholders, the number may be two.

2.2 **Increase and Decrease Member of the Board.** The Board of Directors, by resolution adopted by vote of a majority of the then authorized number of directors, may increase or decrease the number of directors as provided in Section 2.1. The directors shall be elected by the holders of shares entitled to vote thereon at the annual meeting of shareholders and each shall serve until the next succeeding annual meeting of shareholders and until his or her respective successor is elected and qualified.

2.3 **Qualification of Directors.** Directors need not be shareholders of the Corporation.

2.4 **Removal.** At any meeting of the shareholders, any director or directors may be removed from office, without assignment of any reason, by a majority vote of the shares or class of shares, as the case may be, which elected the director or directors to be removed, provided however, that if less than all directors are to be removed, no individual director shall be removed if the number of votes cast against her or his removal would be sufficient, if cumulatively voted at any election of the entire board, to elect one or more directors.

When any director or directors are removed, new directors may be elected at the same meeting of the stockholders for the unexpired term of the director or directors removed. If the stockholders fail to elect persons to fill the unexpired term or terms of the director or directors removed, these unexpired terms shall be considered vacancies on the board to be filled by remaining directors.

2.5 **Resignations.** Any director of the Corporation, or any member of any committee, may resign at any time by giving written notice to the Board of Directors, the President, or the Secretary of the Corporation. Any such resignation shall take effect at the time specified therein or, if the time be not specified therein, then upon receipt thereof. The acceptance of such resignation shall not be necessary to make it effective.

2.6 **Vacancies.** Unless otherwise provided in the Articles of Incorporation, any vacancy in the Board of Directors through death, resignation, removal, disqualification or other cause, may be filled at any time by a majority of the directors then in office. If the number of directors then in office is less than a quorum, election of the new director or directors shall be by (1) the unanimous written consent of the directors then in office, (2) the affirmative vote of a majority of the directors then in office at a meeting held pursuant to notice or waivers of notice

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complying with Section 307 or (3) a sole remaining director then office. The person so chosen shall hold office until his or her successor shall have been elected and qualified; or if, the person so chosen is a director elected to fill a vacancy, he or she shall (subject to the provisions of this Article II), hold office for the unexpired term of his or her predecessor.

2.7 Chairman of the Board. The directors may elect one of their members to be Chairman of the Board of Directors. The Chairman shall be subject to the control of, and may be removed as Chairman, by the Board of Directors. He or she shall perform such duties as may from time to time be assigned to him or her by the Board of Directors.

# 2.8 Meetings.

(a) Annual meetings of the Board of Directors may be held without notice immediately following the annual meeting of shareholders.

(b) Regular meetings of the Board of Directors may be held without notice and held at times fixed by resolution of the Board of Directors.

(c) Special meetings of the Board of Directors shall be held at such time and place as shall be designated in the notice of the meeting, whenever called by the Chairman of the Board of Directors, if any, the President, Secretary or any two directors then in office.

2.9 Notices of Special Meetings. The Secretary, or in his or her absence, any other officer of the Corporation, shall give each director notice of the date and time and the place (if any) of the holding of special meetings of the Board of Directors by telephone, including a voice messaging system or other system or technology designed to record or communicate messages, facsimile, telegraph, or by electronic mail or other electronic means, during normal business hours at least 48 hours before the date and time of the meeting, or sent in writing to each director by first-class mail, charges prepaid, at least four days before the date of the meeting. Notice of any meeting may be waived in writing at any time before director attends the meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Unless otherwise stated in the notice thereof, any and all business may be transacted at any meeting without specification of such business in the notice.

2.10 Quorums and Organization of Meetings. A majority of the total number of members of the Board of Directors as constituted from time to time shall constitute a quorum for the transaction of business, but a quorum shall not be less than one-third the authorized number of directors nor less than two, whichever is larger, unless the authorized number of directors is one, in which case one director constitutes a quorum. If at any meeting of the Board of Directors (whether or not adjourned from a previous meeting) there shall be less than a quorum present, a majority of those present may adjourn the meeting to another date and time. If the meeting is adjourned for more than 24 hours, notice of an adjournment to another time or place shall be given prior to the time of the adjourned meeting to the directors who were not present at the time of the adjournment. Except as otherwise provided by law or in the Articles of Incorporation or these Bylaws, a majority of the Directors present at any meeting at which a quorum is present may decide any question brought before such meeting. Meetings shall be presided over by the Chairman of the Board of Directors, if any, or in his or her absence by the President, or in the absence of both, by such other person as the directors may select. The Secretary of the Corporation shall act as secretary of the meeting, but in his or her absence the Chairman of the meeting may appoint any person to act as secretary of the meeting.

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2.11 Committees. The Board of Directors, by a resolution or resolutions adopted by a majority of the members of the whole Board, may appoint an Executive Committee, an Audit Committee, and any other committees as it may deem appropriate. Each committee shall consist of at least two members of the Board of Directors. Each committee shall have and may exercise any and all powers as are conferred or authorized by the resolution appointing it. A majority of each committee may determine its action and may fix the time and place of its meetings, unless provided otherwise by the Board of Directors. The Board of Directors shall have the power at any time to fill vacancies in, to change the size of membership of, and to discharge any committee.

Each committee shall keep a written record of its acts and proceedings and shall submit that record to the Board of Directors at each regular meeting and at any other times as requested by the Board of Directors. Failure to submit the record, or failure of the Board to approve any action indicated therein will not, however, invalidate the action to the extent it has been carried out by the Corporation prior to the time the record of such action was, or should have been, submitted to the Board of Directors as provided.

2.12 Action Without Meeting. Unless otherwise restricted by the Articles of Incorporation or these Bylaws, any action required or permitted to be taken at any meeting of the Board of Directors or of any committee thereof may be taken without a meeting, if all members of the Board of Directors or committee, as the case may be, consent thereto in writing or by electronic transmission, and such writing or writings or electronic transmission or transmissions are filed with the minutes of proceedings of the Board of Directors or committee. Such filings shall be in paper form if the minutes are maintained in paper form and shall be in electronic form if the minutes are maintained in electronic form. The Board of Directors or any committee designated by the Board of Directors may take any action required or permitted to be taken by them without a meeting unless otherwise prohibited by law or the Articles of Incorporation.

2.13 Remote Communications. Nothing contained in these Bylaws shall be deemed to restrict the powers of members of the Board of Directors, or any committee designated by the Board of Directors, to participate in a meeting of the Board of Directors, or committee, by means of conference telephone or similar remote communications equipment by means of which all persons participating in the meeting can hear each other, and participation in a meeting by such means shall constitute presence in person at such meeting.

## ARTICLE III

### Officers

3.1 Executive Officers. The executive officers of the Corporation shall be a President and a Secretary, each of whom shall be elected by the Board of Directors. The Board of Directors may elect or appoint such other officers (including a controller, treasurer, Vice President or assistant secretaries) as it may deem necessary or desirable. Each officer shall hold office for such term as may be prescribed by the Board of Directors from time to time. Any person may hold at one time two or more offices.

3.2 Powers and Duties. The Chairman of the Board of Directors, if any, or in his or her absence, the President, or in his or her absence, the Secretary, shall preside at all meetings of the shareholders and of the Board of Directors. The President shall be the chief executive officer of the Corporation. In the absence of the President, the Secretary, and in the absence of the Secretary, a Vice President appointed by the President or, if the President fails to make such appointment, by the Board of Directors, shall perform all the duties of the President. Each of the

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officers and agents of the Corporation shall have such powers and authority and shall perform such duties in the management of the business and affairs of the Corporation as generally pertain to their respective offices, as well as such powers and authorities and such other duties as from time to time may be prescribed by the Board of Directors.

3.3 **Term.** The principal officers shall be chosen annually by the Board of Directors at the first meeting of the directors following the shareholders' annual meeting, or as soon as is conveniently possible. Subordinate officers may be elected from time to time as the Board of Directors may in its sole discretion determine. Each officer shall serve until his or her successor shall have been chosen and duly qualified, or until his or her death, resignation or removal.

3.4 **Resignations.** Any officer of the Corporation may resign at any time by giving written notice to the Board of Directors, the President, or the Secretary of the Corporation. Any such resignation shall take effect at the time specified therein or, if the time be not specified therein, then upon receipt thereof. The acceptance of such resignation shall not be necessary to make it effective.

3.5 **Removals.** The Board of Directors, by a vote of not less than a majority of the entire Board of Directors at any meeting thereof or by written consent, at any time, may, to the extent permitted by law, remove with or without cause from office or terminate the employment of any officer, with or without cause.

3.6 **Vacancies.** Unless otherwise provided in the Articles of Incorporation, any vacancy in the office of any officer through death, resignation, removal, disqualification or other cause, may be filled at any time by a majority of the directors then office (even though less than a quorum remains) or, in the case of any vacancy in the office of any director, by the shareholders, and, subject to the provisions of this Article III, the person so chosen shall hold office until his successor shall have been elected and qualified; or if, the person so chosen is a director elected to fill a vacancy, he shall (subject to the provisions of this Article III hold office for the unexpired term of his predecessor.

## ARTICLE IV

### Capital Stock

4.1 **Common Stock.** The Corporation shall authorize one class of common stock, no par value.

4.1.1 **Common Stock.** The Common Shareholders shall have the exclusive right to vote for the election of directors and on all other matters requiring action by the shareholders or submitted to the shareholders for action, except as may be determined as to a particular series of Preferred Stock by the directors prior to issuance of any shares of that series or as may otherwise be required by law, and each share of Common Stock shall entitle the holder thereof to one vote.

The holders of the Common Stock shall be entitled to receive, to the extent permitted by law, such dividends as may from time to time be declared by the directors.

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Upon any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of the Common Stock shall be entitled to receive the net assets of the Corporation, after the Corporation shall have satisfied or made provision for its debts and obligations and for payment to the holders of shares of any class or series having preferential rights to receive distributions of the net assets of the Corporation.

4.2 **Stock Certificates.** The certificates representing shares of each class and series of the capital stock of the Corporation shall be in such form as shall be prescribed by law and approved from time to time by the Board of Directors. The certificates shall be signed by the President or Vice President and by the Secretary, an Assistant Secretary or Treasurer or an Assistant Treasurer.

4.3 **Transfer of Shares.** Shares of each class or series of the capital stock of the Corporation on the books of the Corporation may only be transferred by the holder of such shares or by his duly authorized attorney, upon the surrender to the Corporation or its transfer agent of the certificate, properly endorsed, representing such stock.

4.4 **Fixing Record Date.** In order that the Corporation may determine the shareholders entitled to notice of or to vote at any meeting of shareholders or any adjournment thereof or to express consent to corporate action in writing without a meeting, or entitled to receive payment of any dividend or other distribution or allotment of any rights, or entitled to exercise any rights in respect of any change, conversion, or exchange of stock, or for the purpose of any other lawful action, the Board of Directors may fix, in advance, a record date, which unless otherwise provided by law, shall not be more than 60 nor less than 10 days before the date of such meeting, nor more than 60 days prior to any other action.

4.5 **Lost Certificates.** The Board of Directors or any transfer agent of the Corporation may direct a new certificate or certificates representing stock of the Corporation to be issued in place of any certificate or certificates theretofore issued by the Corporation, which have been alleged to have been lost, stolen or destroyed, upon the making of an affidavit of that fact by the person claiming the certificate or certificates. The Board of Directors (or any transfer agent of the Corporation authorized to do so by a resolution of the Board of Directors) may, in its discretion and as a condition precedent to the issuance thereof, require the owner of such lost, stolen or destroyed certificate or certificates, or his legal representative, to give the Corporation a bond in such sum as the Board of Directors (or any transfer agent so authorized) shall direct to indemnify the Corporation against any claim that may be made against the Corporation with respect to the certificate or certificates alleged to have been lost, stolen or destroyed or the issuance of such new certificate or certificates, and such requirement may be general or confined to specific instances.

## ARTICLE V

### General Provisions

5.1 **Corporate Seal.** The corporate seal shall have inscribed thereon the name of the Corporation, the year of its organization, and the words 'Corporate Seal' and 'California'.

5.2 **Fiscal Year.** The fiscal year of the Corporation shall be on December 31 or such date as otherwise determined by the Board of Directors.

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5.3 Notices and Waivers Thereof. Except as otherwise provided by law, these Bylaws or the Articles of Incorporation, whenever by law or under the provisions of the Articles of Incorporation or these Bylaws notice is required to be given by any director or shareholder, it will not be construed to require personal notice, but such notice may be given in writing, by mail or courier service, addressed to such director or shareholder, at the address of such director or shareholder as it appears on the records of the Corporation, with postage thereon prepaid, and such notice will be deemed to be given at the time when the same is deposited in the United States mail. Notice to directors may also be given by telephone, facsimile, electronic mail, electronic transmission or similar medium of communication or as otherwise may be permitted by these Bylaws. If such notice is delivered to a director by electronic mail, such notice shall be deemed given when directed to the electronic mail address provided by such director, and if such notice is delivered by any other electronic transmission, such notice shall be deemed given when directed to such director.

Whenever any notice is required to be given by law or under the provisions of the Articles of Incorporation or these Bylaws, a waiver thereof, in writing, signed by the person or persons entitled to such notice, or a waiver by electronic transmission by the person entitled to such notice, whether before or after the time of the event for which notice is to be given, will be deemed equivalent to such notice. Attendance of a person at a meeting will constitute a waiver of notice of such meeting, except when the person attends a meeting for the express purpose of objecting, at the time of the meeting, to the transaction of any business because the meeting is not lawfully called or convened.

5.4 Stock of Other Corporations or Other Interests. Unless otherwise ordered by the Board of Directors, the President, the Secretary, and such attorneys or agents of the Corporation as may be from time to time authorized by the Board of Directors or the President shall have full power and authority on behalf of the Corporation to attend and to act and vote in person or by proxy at any meeting of the holders of securities of any Corporation or other entity in which the Corporation may own or hold shares or other securities, and at such meetings shall possess and may exercise all the rights and powers incident to the ownership of such shares or other securities which the Corporation, as the owner or holder thereof, might have possessed and exercised if present. The President, Secretary, or such attorneys or agents may also execute and deliver on behalf of the Corporation powers of attorney, proxies, consents, waivers and other instruments relating to the shares or securities owned or held by the Corporation.

5.5 Indemnification of Officers and Directors. The Corporation shall have the power to indemnify any person to the fullest extent permitted under Section 317 of the California Corporations Code or any successor provision or statute, as may from time to time be amended, including the advancement of any expenses (including attorneys' fees) incurred or to be incurred by any officer or director in defending any civil, criminal, administrative or investigative action, suit or proceeding prior to the final disposition of such action, suit or proceeding.

## ARTICLE VI

### Amendments

The holders of shares entitled at the time to vote for the election of directors shall have the power to adopt, amend, or repeal the Bylaws of the Corporation by vote of not less than a majority of such shares, and, except as otherwise provided by law, the Board of Directors shall have power equal in all respects to that of the shareholders to adopt, or repeal the Bylaws of the Corporation by vote of not less than a majority of the entire Board of Directors. However, any

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bylaw adopted by the shareholders may be amended or repealed only by vote of the holders of a majority of the shares entitled at the time to vote for the election of directors, and not by the Board of Directors.

## ARTICLE VII

### Provisions of Law

The Bylaws of the Corporation shall be subject to such provisions of the statutory and common laws of the State of California as may be applicable to corporations organized under the laws of the State of California. References herein to provisions of law shall be deemed to be references to the aforesaid provisions of law unless otherwise explicitly stated. All references in these Bylaws to such provisions of law shall be construed to refer to such provisions as from time to time amended.

## ARTICLE VIII

### Articles of Incorporation

The Bylaws of the Corporation shall be subject to the Articles of Incorporation of the Corporation. All references in these Bylaws to the Articles of Incorporation shall be construed to mean the Articles of Incorporation of the Corporation as from time to time amended.

Adopted: August 26, 2021

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**Attachment 5:** `otherfinancial.pdf`

# Record Ownership and Voting Agreement

This Record Ownership and Voting Agreement (this “Agreement”) is entered into as of the date of electronic consent by the parties using the website www.netcapital.com (the “Portal”), by and among NetCapital Funding Portal Inc., a Delaware corporation (“NetCapital”), MG Teixeira Inc, a Connecticut corporation (the “Record Owner”), and the undersigned investor (“Investor”).

The Record Owner has agreed to open and maintain the Account (as defined below) for Investor and to provide other services to Investor in connection with the Account. This Agreement sets out, among other things, the terms under which the Record Owner will provide those services to Investor and the arrangements that will apply in connection with those services.

In consideration of the mutual promises herein made and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

## 1. Interpretation

### 1.1 Definitions

In this Agreement:

- • “Account” means the account opened by the Record Owner and consisting of the beneficial interests in any Shares that were offered for sale by the Issuer on the Portal and purchased by Investor.
- • “Account Balance” means, in relation to the Account, the number of Shares of each Issuer beneficially owned by Investor, including all of Investor’s rights to and interest in the balance from time to time on that Account.
- • “Business Day” means a weekday that is not a federal holiday.
- • “Escrow Agent” means Boston Private Bank and Trust Company.
- • “Fees” means the fees and charges referred to in clause 5.1 of this Agreement.
- • “Issuer” means each issuer of the Shares.
- • “Shares” means the beneficial interests in the uncertificated shares of common stock or preferred stock or the units of convertible debt, limited liability company membership interests or limited partnership interests that were beneficially purchased by Investor on the Portal.
- • “Termination Date” means the date on which this Agreement is terminated by the Record Owner or by Investor as permitted hereunder.
- • “Transfer Agent” means Equity Stock Transfer LLC, or a successor transfer agent.
- • “Withdrawal Date” means the date referred to in clause 2.2 of this Agreement.

### 1.2. Headings

The headings in this Agreement do not affect its interpretation.

### 1.3. Singular and plural

References to the singular include the plural and vice versa.

## 2. Account

### 2.1. Opening Account

The Record Owner shall open and maintain the Account for the beneficial interests in the Shares beneficially held by Investor.

### 2.2. Deposits and withdrawals

The balance of Investor's Account shall reflect the Shares beneficially held by Investor. A deposit of Shares is made into Investor's Account when the Escrow Agent sends payment funds to the Issuer or a seller of Shares, as the case may be, and the Record Owner receives a record from the Transfer Agent of the number of Shares that Investor beneficially holds. A withdrawal occurs when the Record Owner receives notice from the Transfer Agent that the Shares have been beneficially sold or transferred.

### 2.3. Reports

Reports relating to deposits into and withdrawals from the Account and the Account Balance will be available to Investor daily by means of a section on the Portal to which Investor may log in.

## 3. Services of the Record Owner

### 3.1. General

Investor and the Record Owner understand and agree that the Record Owner will be the legal but not the beneficial owner of the Shares.

### 3.2. Ownership of Securities

The Record Owner will be the sole holder of legal title to the Shares while Investor will hold beneficial ownership of the Shares. The Record Owner will be the sole record holder of the Shares on the books and records of the Issuer. The sole dispositive record of Investor's beneficial ownership of the Shares will be in the books and records of the Transfer Agent. Investor shall be entitled to all proceeds of the sale of Shares, net of fees and commissions.

### 3.3. Voting of Securities

Prior to the Withdrawal Date, at every meeting of the equity or interest holders of the Issuer called with respect to any matter, and at every adjournment or postponement thereof, and on every action or approval by written consent or resolution of the equity or interest holders of the Issuer, Investor agrees that the Record Owner shall vote Investor's Shares, in the event Investor's Shares contain voting rights, in a manner reasonably determined to be in the best interest of Investor.

### 3.4. Insurance

The Record Owner and Investor understand and agree that the Record Owner may maintain insurance in support of the Record Owner's obligations under this Agreement, including covering any loss of the Shares. In the event that the Record Owner elects to reduce, cancel or not to renew such insurance, the Record Owner may give Investor prior written notice as follows: in the case of a reduction, the Record Owner may endeavor to provide such notice at least 30 days prior to the effective date of the reduction; and in the event of a cancellation or expiration of the insurance without renewal, the Record Owner may provide such notice at least 30 days prior to the last day of insurance coverage. Investor acknowledges that any such insurance is held for the Record Owner's benefit and not for the benefit of Investor, and that Investor may not submit any claim under the terms of such insurance.

### 3.5. Notice of Changes

The Record Owner may notify Investor promptly in writing of the following: (i) the Record Owner receives notice of any claim against the Account other than a claim for payment of safe custody or administration permitted by this Agreement; (ii) the Record Owner otherwise fails to comply with any of the provisions of this Agreement; or (iii) any of the Record Owner's representations and warranties in clause 4 shall cease to be true and correct.

## 4. Obligations of the Portal

NetCapital shall notify or cause to be notified each Issuer of Shares of the identity of the Record Owner of the Shares of such Issuer.

## 5. Representations and Warranties

### 5.1 Investor's representations

Investor represents and warrants that:

- Investor is the beneficial owner of the Shares;
- Investor has all necessary authority, powers, consents, licenses and authorizations and has taken all necessary action to enable Investor lawfully to enter into and perform Investor's duties and obligations under this Agreement; and
- This Agreement and the obligations created under it are binding upon Investor and enforceable against Investor in accordance with its terms (subject to applicable principles of equity) and do not and will not violate the terms of the

rules or any order, charge or agreement by which Investor is bound.

## 5.2 The Record Owner's representations and warranties

The Record Owner represents and warrants to Investor that:

- this Agreement has been duly authorized, executed and delivered on the Record Owner's behalf and constitutes the Record Owner's legal, valid and binding obligation; and
- the execution, delivery and performance of this Agreement by the Record Owner does not and will not violate any agreement by which the Record Owner is bound.

## 6. Fees and Expenses

### 6.1 Fees

The Record Owner's fees will be paid in accordance with the fee agreement that has been executed by the Portal and the Record Owner. There are no fees payable by the Investor.

## 7. Scope of Responsibility

### 7.1 Exclusion of liability

The Record Owner may use reasonable care in the performance of its duties under this Agreement and will only be responsible for any loss or damage suffered by Investor as a direct result of any gross negligence, fraud or willful misconduct on the Record Owner's part in the performance of the Record Owner's duties, and in which case the Record Owner's liability will not exceed the aggregate market value of the Shares at the time of such gross negligence, fraud or willful misconduct.

### 7.2 Force majeure

Neither the Record Owner nor any of the Record Owner's directors, employees, agents or affiliates shall incur any liability to Investor if, by reason of any provision of any present or future law or regulation of any governmental or regulatory authority or stock exchange, or by reason of any act of God or war or terrorism, pandemic or other circumstances beyond the Record Owner's control, the Record Owner is prevented or forbidden from, or would be subject to any civil or criminal penalty on account of, or are delayed in, doing or performing any act or thing which by the terms of this Agreement it is provided shall be done or performed and accordingly the Record Owner does not do that thing or does that thing at a later time than would otherwise be required.

### 7.3 Exculpation in respect of offering documents

The Record Owner and its officers, directors, employees, agents and sub-record owners, if any, shall not be responsible or liable in any manner for any recitals, statements, representations or warranties made by any person other than the Record Owner including, but not limited to, statements contained in any material relating to

the offering and sale of Shares.

## 8. Termination

### 8.1 Method

The Record Owner may terminate this Agreement by giving not less than 60 Business Days' prior written notice to Investor and the Portal, provided that the Record Owner may terminate this Agreement immediately on written notice in the event that any of the statements set out in clause 4.1(a)-(c) become untrue. Clauses 6, 7.2 and 9 shall survive termination of this Agreement.

Investor may terminate this Agreement by giving not less than 60 Business Days' prior written notice to the Record Owner and the Portal in the event that the Record Owner is found, in a final determination not subject to appeal, to have committed an act of gross negligence or willful misconduct in respect of its duties as Record Owner hereunder.

### 8.2 Existing rights

Termination shall not affect rights and obligations then outstanding under this Agreement, which shall continue to be governed by this Agreement until all obligations have been fully performed.

### 8.3 Website

Effective upon the Termination Date, Investor's use of the Website will automatically be terminated and Investor will be permitted no further access to the Website until Investor has purchased other Shares.

## 9. Notices and Recordkeeping

### 9.1 Form

A notice or other communication given to Investor under or in connection with this Agreement may be given using the contact information Investor provided to the Portal.

### 9.2 Method of transmission

Any notice or other communication required to be in writing may be delivered by email, receipt confirmed, to the Portal or the Record Owner at the following email addresses:

If to the Record Owner:

MG Teixeira Inc
mannyteixeria@gmail.com

If to the Portal:

Netcapital Funding Portal Inc

## 10. General

### 10.1 No advice

The Record Owner’s duties and obligations under this Agreement do not include providing Investor with investment advice. In asking the Record Owner to open and maintain the Account, Investor does so in reliance upon Investor’s own judgment and the Record Owner shall not owe to Investor any duty to exercise any judgment on Investor’s behalf as to the merits or suitability of any deposits into, or withdrawals from, an Account.

### 10.2 Assignment

This Agreement is for the benefit of and binding upon the parties and their respective heirs, successors and assigns. Investor may not assign, transfer or encumber, or purport to assign, transfer or encumber, Investor’s right, title or interest in relation to any Account or any right or obligation under this Agreement or any part of any of the foregoing unless the Record Owner otherwise agrees in writing.

### 10.3 Amendments

Any amendment to this Agreement must be agreed in writing and be signed by all parties hereto. Unless otherwise agreed, an amendment will not affect any legal rights or obligations that may already have arisen.

### 10.4 Partial invalidity

If any of the clauses (or part of a clause) of this Agreement becomes invalid or unenforceable in any way, the validity of the remaining clauses (or part of a clause) will not in any way be affected or impaired.

### 10.5 Entire agreement

This document represents the entire agreement of the parties, and supersedes any previous agreements and understandings among the parties relating to the subject matter of this Agreement.

### 10.6 Joint and several liability

Investor’s responsibilities under this Agreement are joint and several if applicable.

### 10.7 Counterparts

This Agreement may be executed in any number of counterparts each of which when

executed and delivered is an original, but all the counterparts together constitute the same agreement.

### 10.8 Governing Law and Jurisdiction

This Agreement is governed by and construed in accordance with the laws of the State of Delaware without regard to its conflicts of laws principles. The parties agree that the United States District Court for the Delaware shall have sole and exclusive jurisdiction to determine any issues arising under this Agreement, and all Parties to this Agreement agree to submit to personal jurisdiction in Wilmington, Delaware, for the purpose of resolving any issue arising under or related to this Agreement.

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

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** Fierce & Kind Ltd.

**Legal Status:** Corporation

**Jurisdiction of Incorporation/Organization:** CA

**Date of Organization:** 08-26-2021

**Physical Address:** 4901 Morena Blvd, San Diego, CA, 92117

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

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

**Intermediary Name:** NetCapital Funding Portal Inc.

**Intermediary CIK:** 0001669191

**Intermediary File Number:** 007-00035

**Intermediary CRD Number:** 283596

### Offering Information

**Compensation to Intermediary:** Up to 4.9% of amount raised for a successful offering and a listing fee of up to $10,000

**Financial Interest in Issuer:** None.

**Type of Security Offered:** Common Stock

**Number of Securities Offered:** 7408

**Price per Security:** $1.35

**Method for Determining Price:** The price of the Securities was determined solely by the management and bears no relation to traditional measures of valuation such as book value or price-to-earnings ratios. We expect that any future valuation will take the same approach.

**Target Offering Amount:** $10,000.80

**Oversubscription Accepted:** Yes

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

**Maximum Offering Amount:** $1,069,999.20

**Deadline to Reach Target Amount:** 04-21-2023

### Annual Report Disclosure Requirements

**Current Number of Employees:** 5

**Total Assets (Most Recent Fiscal Year):** $0.00

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

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $0.00

**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):** $0.00

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

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

**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):** $-6,211.00

**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, 1V, PR, VI

### Signatures

**Issuer:** Fierce & Kind Ltd.

**Signature:** Basem Harb

**Title:** Principal Executive Officer

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**Signature:** Basem Harb

**Title:** Principal Executive Officer

**Date:** 03-14-2023

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**Signature:** Basem Harb

**Title:** Principal Financial Officer

**Date:** 03-14-2023

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**Signature:** Cynthia Smith

**Title:** Principal Accounting Officer

**Date:** 03-14-2023

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**Signature:** Basem Harb

**Title:** Board Member

**Date:** 03-14-2023

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**Signature:** Cynthia Smith

**Title:** Board Member

**Date:** 03-14-2023