# EDGAR Filing Document

**Accession Number:** 0002061879
**File Stem:** 0001213900-25-117789
**Filing Date:** 2025-12
**Character Count:** 329314
**Document Hash:** cfc16cd8d2fee2700f5c2e67a53efba3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-117789.hdr.sgml**: 20251203

**ACCESSION NUMBER**: 0001213900-25-117789

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

**PUBLIC DOCUMENT COUNT**: 11

**FILED AS OF DATE**: 20251203

**DATE AS OF CHANGE**: 20251203

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Meridian Veterinary Investors, Inc.
- **CENTRAL INDEX KEY:** 0002061879
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE [6500]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 332463674
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 1-A/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 024-12600
- **FILM NUMBER:** 251546278

**BUSINESS ADDRESS:**
- **STREET 1:** 3811 TURTLE CREEK BOULEVARD, SUITE 875
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75219
- **BUSINESS PHONE:** (214) 651-4000

**MAIL ADDRESS:**
- **STREET 1:** 3811 TURTLE CREEK BOULEVARD, SUITE 875
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75219

## Part

**An offering statement pursuant to Regulation A relating to these securities has been filed with the Securities and Exchange Commission. Information contained in this Preliminary Offering Circular is subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted before the offering statement filed with the Commission is qualified. This Preliminary Offering Circular shall not constitute an offer to sell or the solicitation of an offer to buy nor may there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful before registration or qualification under the laws of any such state. We may elect to satisfy our obligation to deliver a Final Offering Circular by sending you a notice within two business days after the completion of our sale to you that contains the URL where the Final Offering Circular or the offering statement in which such Final Offering Circular was filed may be obtained.**

PRELIMINARY OFFERING CIRCULAR - SUBJECT TO COMPLETION – Dated: December 2, 2025

**MERIDIAN VETERINARY INVESTORS, INC.**

3811 Turtle Creek Boulevard, Suite 875

Dallas, Texas 75219

Registrant's telephone number, including area code: (214) 651-4000

www.meridianvetre.com

Meridian Veterinary Investors, Inc. (herein referred to as "we," "us," "our," "Meridian" and the "Company") is offering up to 7,500,000 shares of our common stock (each a "Share") at $10.00 per Share, for gross proceeds of up to $75,000,000 ("Maximum Offering Amount"). For more information on the securities offered hereby, please see the item titled "Securities Being Offered." The minimum investment established for each investor is $1,000. The sale of Shares will commence once this Offering Circular, as amended from time-to-time, is qualified by the Securities and Exchange Commission ("SEC").

We have engaged DealMaker Securities LLC ("DealMaker" or "Broker") to act as the broker of record in connection with this Offering. The Broker does not purchase any securities from the issuer with a view to sell those for the issuer as part of the distribution of the security. The maximum fees payable to Broker and its affiliates is four and fifty-seven hundredths percent (4.57%) of the Maximum Offering Amount.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Price of Common Stock** | **Price to<br> Public** | **Underwriting<br> Discount and<br> Commissions [1]** | **Proceeds to<br> Issuer [2]** | **Proceeds to<br> Other<br> Persons** |
| Per Share | $10.00 | $0.457 | $9.55 | $0.00 |
| Total Maximum | $75000000 | $3427500 | $71575250 | $0.00 |

---

(1) DealMaker
 is engaged for administrative and compliance related services in connection with this Offering.
 The Broker does not purchase any securities from the issuer with a view to sell those for
 the issuer as part of the distribution of the security. The Broker and its affiliates will
 receive a one-time setup payment of $25,750, and a monthly payment of $2,000 up to a maximum
 of $6,000 for total accountable expenses expected to be incurred of $31,750. Upon the commencement
 of the Offering, there are monthly fees payable to Broker affiliates of $2,000 not to exceed
 $18,000. The Company and Broker have agreed that the maximum amount of cash commissions and
 other forms of underwriting fees paid by the investors, if fully subscribed, in the aggregate
 will be $3,424,750, four and fifty-seven hundredths percent (4.57%) of the gross proceeds. Please
 see "Plan of Distribution" for additional information. We also expect to incur
 expenses relating to this offering in addition to the fees due to DealMaker and its affiliates,
 including, but not limited to, legal, accounting, marketing, travel, printing and other miscellaneous
 expenses, which are not included in the foregoing table. See "Use of Proceeds"
 for more detail.

(2) There
 is no minimum offering amount and no provision to escrow or return investor funds if any
 minimum number of shares is not sold. All investor funds will be held in a segregated Company
 account until the investor's subscription is accepted by the Company, at which time
 such funds will become available for the Company's use. We will conduct separate closings,
 which closings may be conducted on a rolling basis. Closings will occur promptly after receiving
 investor funds, as determined by the Company, in its sole discretion.

**Generally, no sale may be made to you in this offering if the aggregate purchase price you pay is more than ten percent (10%) of the greater of your annual income or net worth. Different rules apply to accredited investors and non-natural persons. Before making any representation that your investment does not exceed applicable thresholds, we encourage you to review Rule 251(d)(2)(i)(C) of Regulation A. For general information on investing, we encourage you to refer to www.investor.gov.**

RULE 251(D)(3)(I)(F) DISCLOSURE. RULE 251(D)(3)(I)((F) PERMITS REGULATION A OFFERINGS TO CONDUCT ONGOING CONTINUOUS OFFERINGS OF SECURITIES FOR MORE THAN THIRTY (30) DAYS AFTER THE QUALIFICATION DATE IF: (1) THE OFFERING WILL COMMENCE WITHIN TWO (2) DAYS AFTER THE QUALIFICATION DATE; (2) THE OFFERING WILL BE MADE ON A CONTINUOUS AND ONGOING BASIS FOR A PERIOD THAT MAY BE IN EXCESS OF THIRTY (30) DAYS OF THE INITIAL QUALIFICATION DATE; (3) THE OFFERING WILL BE IN AN AMOUNT THAT, AT THE TIME THE OFFERING CIRCULAR IS QUALIFIED, IS REASONABLY EXPECTED TO BE OFFERED AND SOLD WITHIN THREE (3) YEARS FROM THE INITIAL QUALIFICATION DATE; AND (4) THE SECURITIES MAY BE OFFERED AND SOLD ONLY IF NOT MORE THAN THREE (3) YEARS HAVE ELAPSED SINCE THE INITIAL QUALIFICATION DATE OF THE OFFERING, UNLESS A NEW OFFERING CIRCULAR IS SUBMITTED AND FILED BY THE COMPANY PURSUANT TO RULE 251(D) (3)(I)((F) WITH THE SEC COVERING THE REMAINING SECURITIES OFFERED UNDER THE PREVIOUS OFFERING; THEN THE SECURITIES MAY CONTINUE TO BE OFFERED AND SOLD UNTIL THE EARLIER OF THE QUALIFICATION DATE OF THE NEW OFFERING CIRCULAR OR THE ONE HUNDRED EIGHTY (180) CALENDAR DAYS AFTER THE THIRD ANNIVERSARY OF THE INITIAL QUALIFICATION DATE OF THE PRIOR OFFERING CIRCULAR. THE COMPANY INTENDS TO OFFER THE SHARES DESCRIBED HEREIN ON A CONTINUOUS AND ONGOING BASIS PURSUANT TO RULE 251(D)(3)(I)(F). THE COMPANY INTENDS TO COMMENCE THE OFFERING IMMEDIATELY AND NO LATER THAN TWO (2) DAYS FROM THE INITIAL QUALIFICATION DATE. THE COMPANY REASONABLY EXPECTS TO OFFER AND SELL THE SECURITIES STATED IN THIS OFFERING CIRCULAR WITHIN ONE (1) YEAR FROM THE INITIAL QUALIFICATION DATE.

Our common stock is not now listed on any national securities exchange, quotation system or the Nasdaq stock market and there is no market for our securities. There is no guarantee, and it is unlikely, that an active trading market will develop in our securities.

Provided that an investor purchases shares in the amount of the minimum investment ($1,000), there is no minimum number of shares that needs to be sold in order for funds to be released to the Company and for this Offering to close, which may mean that the Company does not receive sufficient funds to cover the cost of this Offering. The Offering will terminate at the earlier of (1) the date at which the Maximum Offering Amount has been sold, (2) the date that is twelve months from the date of this Offering Statement being re-qualified by the Commission, or (3) the date at which the Offering is earlier terminated by the company in its sole discretion, which may happen at any time. The Company anticipates that it will hold its initial closing on some date after the date of qualification and will hold additional closings at various times thereafter in the Company's discretion.

This offering is being made pursuant to Tier 2 of Regulation A (Regulation A Plus), following the Form 1-A Offering Circular disclosure format.

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

**This offering is highly speculative, and these securities involve a high degree of risk and should be considered only by persons who can afford the loss of their entire investment. See "Risk Factors."**

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [SUMMARY INFORMATION](#a_001) | 1 |
| [ABOUT THIS CIRCULAR](#a_002) | 3 |
| [INDUSTRY AND MARKET DATA](#a_003) | 3 |
| [TAX CONSIDERATIONS](#a_004) | 3 |
| [RISK FACTORS](#a_005) | 4 |
| [SPECIAL INFORMATION REGARDING FORWARD LOOKING STATEMENTS](#a_006) | 8 |
| [DILUTION](#a_007) | 8 |
| [PLAN OF DISTRIBUTION](#a_008) | 8 |
| [USE OF PROCEEDS](#a_009) | 13 |
| [DESCRIPTION OF BUSINESS](#a_010) | 14 |
| [DESCRIPTION OF PROPERTY](#a_011) | 15 |
| [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#a_012) | 15 |
| [DIRECTORS, EXECUTIVE OFFICERS, AND SIGNIFICANT EMPLOYEES](#a_013) | 21 |
| [COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS](#a_014) | 22 |
| [SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITYHOLDERS](#a_015) | 22 |
| [INTEREST OF MANAGEMENT AND OTHERS IN CERTAIN TRANSACTIONS](#a_016) | 22 |
| [SECURITIES BEING OFFERED](#a_017) | 23 |
| [ERISA CONSIDERATIONS](#a_018) | 25 |
| [EXPERTS](#a_019) | 26 |
| [WHERE YOU CAN FIND ADDITIONAL INFORMATION](#a_020) | 26 |
| [FINANCIAL STATEMENTS](#a_021) | F-1 |

---

i

**SUMMARY INFORMATION**

This summary highlights some of the information in this Offering Circular. It is not complete and may not contain all of the information that you may want to consider. To understand this offering fully, you should carefully read the entire Offering Circular, including the section entitled "Risk Factors" and the exhibits, before making a decision to invest in our securities. Unless otherwise noted or unless the context otherwise requires, the terms "we," "us," "our," "Meridian" and the "Company" refer to Meridian Veterinary Investors, Inc. together with its wholly owned subsidiaries. In instances where we refer emphatically to "Meridian Veterinary Investors, Inc." or where we refer to a specific subsidiary of ours by name, we are referring only to that specific legal entity. "Offering Statement" refers to the Company's Form 1-A, including Part I, Part II and Part III, filed with the SEC and amended from time to time. "Offering Circular" refers to this Offering Circular comprising Part II of the Offering Statement. You are encouraged to contact the Company if any information is unclear.

<u>The Company</u>

The Company was incorporated on November 14, 2024, under the laws of the State of Delaware. Rights of our stockholders are governed by the Delaware General Corporation Law, our Certificate of Incorporation ("Certificate") and our bylaws, copies of each of which are included as exhibits to the Offering Statement. The Company was formed to (i) acquire or develop specialty and emergency veterinary hospitals and other veterinary pet wellness related projects ("Project Investments") through the Project Companies for investment purposes (with any development expected to consist of either the ground-up development of a new Project or the re-development of existing improvements and conversion into a Project), (ii) lease each Project to a highly qualified veterinary specialty hospital operator or animal care facility operator (the "Operator"), or, in the case of an existing leased Project, assume the relevant lease or leases, and (iii) obtain a return on each Project Investment for the Company through distributions of available cash flow derived from the rent payments under such lease and realize capital appreciation upon the eventual sale, exchange, refinancing, recapitalization or other disposition of each such Project.

We are an "emerging growth company" as defined in the Jumpstart Our Business Startups Act, or the JOBS Act, and, as such, may elect to comply with certain reduced reporting requirements should we register our securities with the SEC after this offering.

Our corporate address is 3811 Turtle Creek Boulevard, Suite 875, Dallas, Texas, and our telephone number is (214) 651-4000.

<u>Capitalization</u>

The Company has 10,000,000 Shares of Common Stock authorized pursuant its Certificate of Incorporation. As of the date of this Offering Circular, the Company has issued one share to each of the Company's Directors, which the Company will reacquire after issuing Shares in this offering. Assuming all offered Shares are sold, following this offering, the Company will have 7,500,000 Shares issued and outstanding. The Company has not issued any options, warrants or other rights to buy Shares.

<u>Use of Proceeds</u>

In general, the Company will use net proceeds from the offering for offering expenses, Project Investments and operations. See "Use of Proceeds" for more detail.

<u>Going Concern</u>

The consolidated financial statements included in this Offering Circular have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge our liabilities in the normal course of business for the foreseeable future.

The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Our ability to raise additional capital through the future issuances of debt or equity is unknown. The obtainment of additional financing, the successful development of the Company's contemplated plan of operations, or our attainment of profitable operations are necessary for the Company to continue operations. The ability to successfully resolve these factors raise substantial doubt about the Company's ability to continue as a going concern. The consolidated financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties.

<u>Risks</u>

You should carefully read the section titled "Risk Factors" and the other information included in this Offering Circular for a discussion of facts that you should consider before deciding to invest in our Shares.

<u>The Offering</u>

This offering circular relates to the sale of up to 7,500,000 Shares of our Common Stock at a price of $10.00 per Share, for gross proceeds of up to $75,000,000, assuming all Shares are sold. There is no offering minimum investment amount that must be achieved prior to accepting funds from investors. Notwithstanding the foregoing, the Offering is made subject to withdrawal, cancellation, or modification by the Company without notice and solely at the Company's discretion. The Company reserves the right to reject any subscription or to allot to any prospective investor less than the number of Shares subscribed for such prospective investor. The minimum investment amount established for each investor is $1,000. We may conduct separate closings, which closings may be conducted on a rolling basis.

The sale of Shares will commence once this Offering Circular, as amended, is qualified by the SEC. This offering shall be terminated upon (i) the date which is three years from the date this Offering Circular or amendment thereof, as applicable, is qualified by the SEC; provided that, the Company has filed annual amendments with the SEC to update its financial statements, or (ii) the sale of the Maximum Offering Amount of Shares for the offering. Notwithstanding the foregoing, we may amend, rescind, or terminate this offering at any time, in our sole discretion, and will amend or supplement this Offering Circular as appropriate.

*We have engaged DealMaker to act as the broker of record in connection with this Offering. The Broker does not purchase any securities from the issuer with a view to sell those for the issuer as part of the distribution of the security. The maximum fees payable to Broker and its affiliates is four and fifty-seven hundredths percent (4.57%) of the Maximum Offering Amount.* 

In order to subscribe to purchase the shares, a prospective investor must visit our investor portal maintained by Novation Solutions, Inc. (o/a DealMaker ("DealMaker")), an affiliate of Broker, at www.invest.Meridian.com and complete a subscription agreement and send payment by wire transfer, ACH, or credit card, in accordance with the instructions provided within the portal. Investors must answer certain questions to determine compliance with the investment limitation set forth in Regulation A Rule 251(d)(2)(i)(C) under the Securities Act, which states that in offerings such as this one, where the securities will not be listed on a registered national securities exchange upon qualification, the aggregate purchase price to be paid by an investor who is a natural person for the securities cannot exceed ten percent (10%) of the greater of the investor's annual income or net worth, unless the purchaser is an accredited investor. In the case of an investor who is not a natural person, revenues or net assets for the investors' most recently completed fiscal year are used instead.

**ABOUT THIS CIRCULAR**

We have prepared this Offering Circular to be filed with the SEC for our offering of securities. The Offering Circular includes exhibits that provide more detailed descriptions of the matters discussed in this Offering Circular.

You should rely only on the information contained in this Offering Circular and its exhibits. We have not authorized any person to provide you with any information different from that contained in this Offering Circular. The information contained in this Offering Circular is complete and accurate only as of the date of this Offering Circular, regardless of the time of delivery of this Offering Circular or sale of our shares. This Offering Circular contains summaries of certain other documents, but reference is hereby made to the full text of the actual documents for complete information concerning the rights and obligations of the parties thereto. All documents and agreements relating to this offering, if readily available to us, will be made available to a prospective investor or its representatives upon request.

**INDUSTRY AND MARKET DATA**

The industry and market data used throughout this Offering Circular have been obtained from our own research, surveys or studies conducted by third parties and industry or general publications. Industry publications and surveys generally state that they have obtained information from sources believed to be reliable, but do not guarantee the accuracy and completeness of such information. We believe that each of these studies and publications is reliable. We have not engaged any person or entity to provide us with industry or market data.

**TAX CONSIDERATIONS**

No information contained herein, nor in any prior, contemporaneous or subsequent communication should be construed by a prospective investor as legal or tax advice. We are not providing any tax advice as to the acquisition, holding or disposition of the securities offered herein. In making an investment decision, investors are strongly encouraged to consult their own tax advisor to determine the U.S. Federal, state and any applicable foreign tax consequences relating to their investment in our securities. This written communication is not intended to be "written advice," as defined in Circular 230 published by the U.S. Treasury Department.

**RISK FACTORS**

*Any investment in our common stock involves a high degree of risk. Investors should carefully consider the risks described below and all of the information contained in this Offering Circular before deciding whether to purchase our common stock. Our business, financial condition or results of operations could be materially adversely affected by these risks if any of them actually occur. Some of these factors have affected our financial condition and operating results in the past or are currently affecting us. This Offering Circular also contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the risks described below and elsewhere in this Offering Circular. In addition to the other information provided in this Offering Circular, you should carefully consider the following risk factors in evaluating our business and before purchasing any of our common stock. Material risks identified by the Company are discussed in this section; however, discussion may not include all risks applicable to an investment in Shares to the extent such risks have not been contemplated by the Company.*

*<u>Risks Related to this Offering and our Common Stock</u>*

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

You should be prepared to hold this investment indefinitely. There is no established market for these securities and there may never be one. As a result, if you decide to sell these securities in the future, you may not be able to find a buyer. Investors should assume that they may not be able to liquidate their investment or be able to pledge their shares as collateral.

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

Investors in this offering may at some point have the option of paying for their investment with a credit card, which is not usual in the traditional investment markets. Transaction fees charged by your credit card company or cryptocurrency exchange service and interest charged on unpaid card balances (which can reach over twenty-five percent (25%) in some states) add to the effective purchase price of the shares you buy. The cost of using a credit card may also increase if you do not make the minimum monthly card payments and incur late fees. Using a credit card is a relatively new form of payment for securities and will subject you to other risks inherent in this form of payment, including that, if you fail to make credit card payments (e.g. minimum monthly payments), you risk damaging your credit score and payment by credit card may be more susceptible to abuse than other forms of payment. Moreover, where a third-party payment processor is used, your recovery options in the case of disputes may be limited. The increased costs due to credit card processing fees and interest may reduce the return on your investment.

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

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

 ****

 ****

***We may need additional capital, and the sale of additional Shares or other equity securities could result in additional dilution to our stockholders.***

We may require additional capital and may require additional cash resources due to changed business conditions or other future developments. If our resources are insufficient to satisfy our cash requirements, we may seek to sell additional equity or debt securities or obtain a credit facility. The sale of additional equity securities could result in additional dilution to our stockholders. The incurrence of additional indebtedness would result in increased debt service obligations and could result in operating and financing covenants that would restrict our operations. We cannot assure you that financing will be available in amounts or on terms acceptable to us, if at all.

***Because our management will have broad discretion and flexibility in how the net proceeds from this offering are used, we may use the net proceeds in ways in which you disagree.***

The intended use of proceeds from this offering is more particularly described in the Section titled "Use of Proceeds;" however, such description is not binding and the actual use of proceeds may differ from the description contained therein. Accordingly, our management will have significant discretion and flexibility in applying the net proceeds of this offering. You will be relying on the judgment of our management with regard to the use of these net proceeds, and you will not have the opportunity, as part of your investment decision, to assess whether the net proceeds are being used appropriately. It is possible that the net proceeds will be invested in a way that does not yield a favorable, or any, return for us. The failure of our management to use such funds effectively could have a material adverse effect on our business, financial condition, operating results and cash flow.

***The offering price of our Shares from the Company has been arbitrarily determined.***

Our management has determined the Shares offered by the Company. The price of the Shares we are offering was arbitrarily determined based upon the illiquidity and volatility of our common stock, our current financial condition and the prospects for our future cash flows and earnings, and market and economic conditions at the time of the offering. The offering price for the common stock sold in this offering may be more or less than the fair market value for our common stock.

***The best efforts structure of this offering may yield insufficient gross proceeds to fully execute our business plan.***

Shares are being offered on a best efforts basis. We are not required to sell any specific number or dollar amount of common stock, but will use our best efforts to sell the Shares offered by us. As a "best efforts" offering, there can be no assurance that the offering contemplated by this Offering Circular will result in any proceeds being made available to us.

***We may not register or qualify our securities with any state agency pursuant to blue sky regulations.***

The holders of our shares of common stock and persons who desire to purchase them in the future should be aware that there may be significant state law restrictions upon the ability of investors to resell our shares. We currently do not intend to and may not be able to qualify securities for resale in states which require shares to be qualified before they can be resold by our shareholders.

***We may experience investment delays.***

 ****

There may be a delay between the time an investor's subscription is accepted by the Company and the time the proceeds of this offering are invested in a Project. During these periods, the Company may invest these proceeds in short-term certificates of deposit, money-market funds, or other liquid assets with FDIC-insured, SIPC-insured, and/or NCUA-insured banking institutions, which will not yield a return as high as the anticipated return to be earned on a Project.

***Shares are expected to be offered under an offering exemption, and if it were later determined that such exemption was not available, purchasers would be entitled to rescind their purchase agreements.***

Shares are being offered to prospective investors pursuant to Tier 2 of Regulation A under the Securities Act. Unless the sale of Shares should qualify for such exemption the investors might have the right to rescind their purchase of Shares. Since compliance with these exemptions is highly technical, it is possible that if an investor were to seek rescission, such investor would succeed. A similar situation prevails under state law in those states where Shares may be offered without registration. If a number of investors were to be successful in seeking rescission, the Company would face severe financial demands that could adversely affect the Company and, thus, the non-rescinding investors. Inasmuch as the basis for relying on exemptions is factual, depending on the Company's conduct and the conduct of persons contacting prospective investors and making the Offering, the Company will not receive a legal opinion to the effect that this Offering is exempt from registration under any federal or state law. Instead, the Company will rely on the operative facts as documented as the Company's basis for such exemptions.

***Non-compliance with certain securities regulations may result in the liquidation and winding up of the Company.***

 ****

We are not registered and will not be registered as an investment company under the Investment Company Act of 1940, as amended ("Investment Company Act"), and none of our management will not be registered as an investment adviser under the Investment Advisers Act of 1940, as amended ("Investment Advisers Act"), and thus the interests do not have the benefit of the protections of the Investment Company Act or the Investment Advisers Act. We have taken the position that the Loans are not "securities" within the meaning of the of the Investment Company Act or the Investment Advisers Act, and thus our assets will comprise of less than forty percent (40%) investment securities under the Investment Company Act and our management will not be advising with respect to securities under the Investment Advisers Act. This position, however, is based upon applicable law that is inherently subject to judgments and interpretation. If we were to be required to register under the Investment Company Act or our management were to be required to register under the Investment Advisers Act, it could have a material and adverse impact on the results of operations and expenses of the Company or cause us to cease operations as currently contemplated.

***There may be deficiencies with our internal controls that require improvements.***

 ****

As a Tier 2 issuer, we will not need to provide a report on the effectiveness of our internal controls over financial reporting, and we will be exempt from the auditor attestation requirements concerning any such report so long as we are a Tier 2 issuer. We do not know whether our internal control procedures are effective and therefore there is a greater likelihood of undiscovered errors in our internal controls or reported financial statements as compared to issuers that have conducted such evaluations.

<u>Risks Related to our Business</u>

***Since we have no operating history, it is difficult for potential investors to evaluate our business.***

Our lack of operating history may hinder our ability to successfully meet our objectives and makes it difficult for potential investors to evaluate our business or prospective operations. As an early-stage company, we are subject to all the risks inherent in the financing, expenditures, operations, complications and delays inherent in a newer business. Accordingly, our business and success face risks from uncertainties faced by developing companies in a competitive environment. There can be no assurance that our efforts will be successful or that we will ultimately be able to attain profitability.

***Our independent registered public accounting firm has expressed substantial doubt about our ability to continue as a going concern.***

Our historical financial statements have been prepared under the assumption that we will continue as a going concern. Our independent registered public accounting firm has expressed substantial doubt in our ability to continue as a going concern. Our ability to continue as a going concern is dependent upon our ability to obtain additional equity financing or other capital, attain further operating efficiencies, reduce expenditures, and, ultimately, generate more revenue. The doubt regarding our potential ability to continue as a going concern may adversely affect our ability to obtain new financing on reasonable terms or at all. Additionally, if we are unable to continue as a going concern, our stockholders may lose some or all of their investment in the Company.

***We depend heavily on personnel leased to us by Meridian, and turnover of such personnel could harm our business.***

Our future business and results of operations depend in significant part upon the personnel leased to us by Meridian. If we lose their services or if they fail to perform in their current positions, or if we are not able to attract and retain skilled personnel to replace the leased employees as needed, our business could suffer. We do not have any key person insurance.

***We may change our investment strategy without stockholder consent, which may result in riskier investments than our current investments.***

 ****

We may change our investment strategy and guidelines at any time without the consent of our stockholders, which could result in our making investments that are different from, and possibly riskier than, the investments described in this prospectus. A change in our investment strategy or guidelines may increase our exposure to interest rate and real estate market fluctuations.

***We expect to face competition, often from companies with greater resources and experience than we have.***

We will face competition if the sourcing and acquisition of Projects. Many of our competitors and potential competitors have substantially greater financial, technological, managerial and research and development resources and experience than we have. Some of these competitors and potential competitors have more experience than we have. If we are unable to compete successfully, we may be unable to grow and sustain our revenue.

***Current global financial conditions have been characterized by increased volatility which could negatively impact our business, prospects, liquidity and financial condition.***

Current global financial conditions and recent market events have been characterized by increased volatility and the resulting tightening of the credit and capital markets has reduced the amount of available liquidity and overall economic activity. We cannot guaranty that debt or equity financing, the ability to borrow funds or cash generated by Project Investments will be available or sufficient to meet or satisfy our initiatives, objectives or requirements.

***We intend to grow the size of our organization, and we may experience difficulties in managing any growth we may achieve.***

As our development plans and strategies develop, we expect to need additional managerial, operational, financial, accounting, legal, and other resources. Future growth would impose significant added responsibilities on members of management. Our management may not be able to accommodate those added responsibilities, and our failure to do so could prevent us from effectively managing future growth, if any, and successfully growing our company.

***If we fail to comply with government laws and regulations it could have a materially adverse effect on our business.***

We may be subject to federal, state and local laws and regulations that are extremely complex. We will exercise care in structuring our operations to comply in all material respects with applicable laws to the extent possible. The laws, rules and regulations applicable to our operations are complex and subject to interpretation. In the event of a determination that we are in violation of such laws, rules or regulations, or if further changes in the regulatory framework occur, any such determination or changes could have a material adverse effect on our business. There can be no assurance however that we will not be found in noncompliance in any particular situation.

***We may not maintain sufficient insurance coverage for the risks associated with our business operations.***

Risks associated with our business and operations include, but are not limited to, claims for wrongful acts committed by our officers, directors, and other representatives, the loss of key personnel, risks posed by natural disasters, and risks of lawsuits from our employees. Any of these risks may result in significant losses. We cannot provide any assurance that our insurance coverage is sufficient to cover any losses that we may sustain, or that we will be able to successfully claim our losses under our insurance policies on a timely basis or at all. If we incur any loss not covered by our insurance policies, or the compensated amount is significantly less than our actual loss or is not timely paid, our business, financial condition and results of operations could be materially and adversely affected.

***Our ability to service our indebtedness will depend on our ability to generate cash in the future.***

Our ability to make payments on our indebtedness, if any, will depend on our ability to generate cash in the future. If we are unable to service our debt obligations, fund our other liquidity needs and maintain compliance with our financial and other covenants, we could be forced to curtail our operations, our creditors could accelerate our indebtedness and exercise other remedies and we could be required to pursue one or more alternative strategies, such as selling assets or refinancing or restructuring our indebtedness. However, such alternatives may not be feasible or adequate.

***The geographic concentration of the properties underlying our investments may increase our risk of loss.***

We have not established any limit upon the geographic concentration of properties comprising our Project Investments. As a result, such properties may be overly concentrated in certain geographic areas, and we may experience losses as a result. A worsening of economic conditions in these states could have an adverse effect on our business.

**SPECIAL INFORMATION REGARDING FORWARD LOOKING STATEMENTS**

Some of the statements in this Offering Circular are "forward-looking statements." These forward-looking statements involve certain known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. These factors include, among others, the factors set forth above under "Risk Factors." The words "believe," "expect," "anticipate," "intend," "plan," and similar expressions identify forward-looking statements. We caution you not to place undue reliance on these forward-looking statements.

We undertake no obligation to update and revise any forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements in this document to reflect any future or developments. However, the Private Securities Litigation Reform Act of 1995 is not available to us as a non-reporting issuer. Further, Section 27A(b)(2)(D) of the Securities Act and Section 21E(b)(2)(D) of the Exchange Act expressly state that the safe harbor for forward looking statements does not apply to statements made in connection with an initial public offering.

**DILUTION**

We have issued one Share to each of the Company's Directors at par value, which is redeemable by the Company at par value once it has issued Shares in this offering. This amount is compared to the $10.00 per Share offered to investors. While this price discrepancy is expected to result in no or de minimis dilution for investors, all investors purchasing from the Company in this offering will experience dilution from future issuances.

**PLAN OF DISTRIBUTION**

We are offering up to 7,500,000 Shares in the Company at a price per Share of $10.00, for maximum offering proceeds of up to $75,000,000, minus direct shares, if all offered Shares are sold. There is no minimum offering amount and no provision to escrow or return investor funds if any minimum number of Shares are not sold. All investor funds will be kept in a segregated Company account until the investor is accepted by the Company. The minimum investment established for each investor is $1,000.

All investor funds will be held in a segregated Company account until the investor's subscription is accepted by the Company, at which time such funds will become available for the Company's use. We will conduct separate closings, which closings may be conducted on a rolling basis. Closings will occur promptly after receiving investor funds, but no less frequently than every 30 days.

The sale of Shares will commence within two calendar days from when the Offering Circular, as amended, is qualified by the SEC. The offering will terminate on the earliest to occur of (i) the date subscriptions for the maximum offering amount have been accepted, (ii) the date which is three years from the date our Offering Statement, as amended, is initially qualified by the Commission, or (iii) any earlier date on which we elect to terminate Notwithstanding the foregoing, we may amend, rescind or terminate this offering at any time, in our sole discretion, and will amend or supplement this offering circular as appropriate.

**<u>Agreement with DealMaker Securities, LLC</u>**

We have engaged DealMaker, a broker-dealer registered with the Commission and a member of FINRA, to provide the administrative and compliance related functions in connection with this offering, and as broker-dealer of record. The Broker does not purchase any securities from the issuer with a view to sell those for the issuer as part of the distribution of the security. Such services shall not include providing any investment advice or any investment recommendations to any investor. The aggregate fees payable to the Broker and its affiliates are described below.

**<u>Administrative and Compliance Related Functions</u>**

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

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

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

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

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

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

● Providing a dedicated account manager, who shall be identified open execution of this Agreement;

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

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

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

● Providing white-labeled platform customization to capture investor acquisition through the Broker's platform's analytic and communication tools;

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

● Consulting with the Company on selection of webhosting services;

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

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

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

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

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

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

For these services, we have agreed to pay Broker:

● A one-time $20,750 setup payment for accountable expenses for the provision of compliance services and pre-offering analysis; and

● A four and fifty-seven hundredths' percent (4.57%) commission for investors sold in the Offering.

The maximum compensation to be paid to Broker is $3,448,250 for its services described above, if the offering is fully subscribed.

**<u>Technology Services</u>**

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

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

For these services, we have agreed to pay DealMaker:

● A one-time $5,000 setup payment and monthly payment of $2,000 for a period of up to three months (a total of $6,000) for accountable expenses for infrastructure for the self-directed roadshow;

● A $2,000 monthly hosting, maintenance, marketing, and advisory fee, to a maximum of $18,000.

The aggregate fees payable to the Broker and its affiliates, including the fees described above and additional fees described in the agreement relating to technology services will not exceed $3,448,250, four and fifty-seven hundredths percent (4.57%) of the Maximum Offering Amount. We have also agreed to pay directly to third parties not affiliated with Broker, all third-party costs, including, but not limited to, charges payable to payment processors, interchange networks, banks, and other vendors.

The Broker has not investigated the desirability or advisability of investment in the Common Stock, nor approved, endorsed or passed upon the merits of purchasing the Common Stock. Under no circumstances will the Broker recommend the Company's securities or provide investment advice to any prospective investor, or make any securities recommendations to investors. The Broker does not purchase any securities from the Company with a view to sell those for the Company as part of the distribution of the security. Broker is not distributing any Offering Circulars or making any oral representations concerning this Offering Circular or this offering. Based upon Broker's anticipated limited role in this offering, it has not and will not conduct extensive due diligence of this offering and no investor should rely on the involvement of Broker in this offering as any basis for a belief that it has done extensive due diligence. Broker does not expressly or impliedly affirm the completeness or accuracy of the Offering Statement and/or Offering Circular presented to investors by the Company. All inquiries regarding this offering should be made directly to the Company. Notwithstanding the forgoing, Novation Solutions, Inc., an affiliate of the Broker, as defined herein, has been retained to facilitate subscription and investment for the offering through its portal, for which it will be paid a fee.

<u>Investor Suitability Standards</u>

Our Shares are being offered and sold only to "qualified purchasers" (as defined in Regulation A under the Securities Act). "Qualified purchasers" include: (i) "accredited investors" under Rule 501(a) of Regulation D and (ii) all other investors so long as their investment in any of the interests of our company does not represent more than ten percent (10%) of the greater of their annual income or net worth (for natural persons), or ten percent (10%) of the greater of annual revenue or net assets at fiscal year-end (for non-natural persons). We reserve the right to reject any investor's subscription in whole or in part for any reason, including if we determine in our sole and absolute discretion that such investor is not a "qualified purchaser" for purposes of Regulation A.

For an individual potential investor to be an "accredited investor" for purposes of satisfying one of the tests in the "qualified purchaser" definition, the investor must be a natural person who has:

&nbsp;&nbsp;&nbsp;&nbsp;1. an individual net worth, or joint net worth with the person's
spouse, that exceeds $1,000,000 at the time of the purchase, excluding the value of the primary residence of such person and the mortgage
on that primary residence (to the extent not underwater), but including the amount of debt that exceeds the value of that residence and
including any increase in debt on that residence within the prior 60 days, other than as a result of the acquisition of that primary
residence; or

&nbsp;&nbsp;&nbsp;&nbsp;2. earned income exceeding $200,000 in each of the two most
recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in
the current year.

If the investor is not a natural person, different standards apply. See Rule 501 of Regulation D for more details. For purposes of determining whether a potential investor is a "qualified purchaser," annual income and net worth should be calculated as provided in the "accredited investor" definition under Rule 501 of Regulation D.

In addition to the foregoing, each prospective investor must represent in writing that they meet, among other things, all of the following requirements:

● The prospective investor has received, reviewed, and understands this Offering Circular and its exhibits, including our operating agreement;

● The prospective investor understands that an investment in interests involves substantial risks;

● The prospective investor's overall commitment to non-liquid investments is, and after their investment in interests will be, reasonable in relation to their net worth and current needs;

● The prospective investor has adequate means of providing for their financial requirements, both current and anticipated, and has no need for liquidity in this investment;

● The prospective investor can bear the economic risk of losing their entire investment in interests;

● The prospective investor has such knowledge and experience in business and financial matters as to be capable of evaluating the merits and risks of an investment in interests; and

● Except as set forth in the subscription agreement, no representations or warranties have been made to the prospective investor by the Company or any partner, agent, employee, or affiliate thereof, and in entering into this transaction the prospective investor is not relying upon any information, other than that contained in the offering statement of which this offering circular is a part, including its exhibits.

If you live outside the United States, it is your responsibility to fully observe the laws of any relevant territory or jurisdiction outside the United States in connection with any purchase, including obtaining required governmental or other consent and observing any other required legal or other formalities.

We will be permitted to make a determination that the subscribers of Shares in this offering are qualified purchasers in reliance on the information and representations provided by the subscriber regarding the subscriber's financial situation. Before making any representation that your investment does not exceed applicable federal thresholds, we encourage you to review Rule 251(d)(2)(i)(C) of Regulation A. For general information on investing, we encourage you to refer to http://www.investor.gov. We may accept or reject any subscription, in whole or in part, for any reason or no reason at all.

An investment in our Shares may involve significant risks. Only investors who can bear the economic risk of the investment for an indefinite period of time and the loss of their entire investment should invest in our Shares.

<u>How to Subscribe</u>

The offering will be conducted using the online subscription processing platform of Novation Solutions Inc. O/A DealMaker ("Technology Provider"), an affiliate of the Broker, through our website at http://invest.meridianvetre.com/ whereby investors in the offering will receive, review, execute, and deliver subscription agreements electronically. Payment of the purchase price for the Shares will be made through a third-party processor by ACH debit transfer or wire transfer or credit card to an account designated by us. In order to invest, you will be required to subscribe to the offering via the Company's website integrating DealMaker's technology and agree to the terms of the offering, subscription agreement, and any other relevant exhibit attached thereto.

The Technology Provider is not participating as an underwriter or placement agent of this offering and will not solicit any investments, recommend our securities, provide investment advice to any prospective investor, or distribute this offering circular or other offering materials to potential investors. All inquiries regarding this offering should be made directly to us.

Investors may subscribe by tendering funds via wire, credit or debit card, or ACH only; checks will not be accepted. Investors will subscribe via the Company's website and investor funds will be processed via DealMaker's integrated payment solutions. Funds will be held in the Company's payment processor account until the Broker has reviewed the proposed subscription, and the Company has accepted the subscription. Funds released to the Company's bank account will be net funds (investment less payment for processing fees and a holdback equivalent to five percent (5%) for 90 days).

Investors will be required to complete a subscription agreement in order to invest. Any potential investor will have time to review the subscription agreement, along with their counsel, prior to making any final investment decision. The subscription agreement that investors will execute in connection with the offering provides that subscribers waive the right to a jury trial of any claim they may have against us arising out of or relating to the Agreement, excluding any claim under federal securities laws. If the Company opposed a jury trial demand based on the waiver, a court would determine whether the waiver was enforceable given the facts and circumstances of that case in accordance with applicable case law. Broker will review all subscription agreements completed by investors. After Broker has completed its review of a subscription agreement for an investment in the Company, and the Company has elected to accept the investor into the offering, the funds may be released to the Company.

The Company maintains the right to accept or reject subscriptions in whole or in part, for any reason or for no reason, including, but not limited to: in the event that an investor fails to provide all necessary information, even after further requests from the Company, in the event an investor fails to provide requested follow up information to complete background checks or fails background checks, and in the event the Company receives oversubscriptions in excess of the maximum offering amount. Investors will be required to agree to indemnify our Company for misrepresentations of the investor within the subscription agreement or supplemental disclosures. Nonetheless, we may not require, and are not requiring, investors to waive any claims or remedies they may have against our Company under the Securities Act or Exchange Act. Once an investor's interests have been issued, the investor will become a shareholder of our Company.

<u>Additional Information Regarding this Offering Circular</u>

We have not authorized anyone to provide you with information other than as set forth in this Offering Circular. Except as otherwise indicated, all information contained in this Offering Circular is given as of the date of this Offering Circular. Neither the delivery of this Offering Circular nor any sale made hereunder shall under any circumstances create any implication that there has been no change in our affairs since the date hereof.

From time to time, we may provide an "Offering Circular supplement" that may add, update or change information contained in this Offering Circular. We must also file annual amendments while this offering is active to update our financial statements and material disclosures. Any statement that we make in this Offering Circular will be modified or superseded by any inconsistent statement made by us in a subsequent Offering Circular supplement or amendment. The Offering Statement we filed with the SEC includes exhibits that provide more detailed descriptions of the matters discussed in this Offering Circular. You should read this Offering Circular and the related exhibits filed with the SEC and any Offering Circular supplement together with additional information contained in our annual reports, semiannual reports and other reports and information statements that we will file periodically with the SEC.

The offering statement and all amendments, supplements and reports that we have filed or will file in the future can be read on the SEC website at www.sec.gov.

**USE OF PROCEEDS**

The following table illustrates the amount of net proceeds to be received by the Company on the sale of the Shares offered hereby and the intended uses of such proceeds over an approximate 12 month period. It is possible that we may not raise the entire $7,500,000 in Shares being offered through this Offering Circular. In such case, we will reallocate the use of proceeds as the Board of Directors deems to be in the best interests of the Company in order to effectuate its business plan. The intended use of proceeds are as follows:

***Capital Sources and Uses***

 ****

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **100%** | **75%** | **50%** | **25%** |
|  ***Gross Offering Proceeds*** | $75000000 | 56250000 | 37500000 | 18750000 |
| *Offering Costs (1)* | $34275000 | 2570625 | 1713750 | 856875 |
| *Payment Processing (2)* | $1500000 | 1125000 | 750000 | 375000 |
| **Use of Net Proceeds:** | $708075250 | 52544000 | 35012750 | 17481500 |
| *Project Investments* | $68025000 | 51018750 | 34012500 | 16556500 |
| *Ongoing legal and accounting fees* | $375000 | 375000 | 375000 | 375000 |
| *Working Capital (3)* | $1675250 | 1550250 | 625250 | 550000 |

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<u>Notes:</u>

&nbsp;&nbsp;&nbsp;&nbsp;(1) DealMaker is engaged for administrative
 and compliance related services in connection with this Offering, and to act as broker of record. The Broker and its affiliates will
 receive certain fees for consulting, transfer agent and technology services. In addition, we will incur additional fees relating
 to this offering, including, but not limited to, marketing, accounting and legal fees. *The Broker and its affiliates will receive a maximum cash compensation equal to four and fifty-seven hundredths percent (4.57%) of the Maximum Offering Amount, if the Offering is fully subscribed.* 

(2) Payment
 Processing cost is the cost presented by third-parties that are not the Broker or affiliates that charge for the processing of the
 payments from the investors to the Company. This cost is estimated at two percent (2%) of the gross amount raised.

(3) Working capital includes such things as investment in technology, marketing, payroll, sales development, operations, repayment for Company financing arrangements as they come due, legal and accounting fees related to this offering, ongoing fees related to this offering, insurance costs, and other typical operating costs. Proceeds from the sales of properties acquired through these raise proceeds may be put into operations or redeployed toward Project Investments.

The allocation of the use of proceeds among the categories of anticipated expenditures represents management's best estimates based on the current status of the Company's proposed operations, plans, investment objectives, capital requirements, and financial conditions. Future events, including changes in economic or competitive conditions of our business plan or the completion of less than the total offering, may cause the Company to modify the above-described allocation of proceeds. The Company's use of proceeds may vary significantly in the event any of the Company's assumptions prove inaccurate. We reserve the right to change the allocation of net proceeds from the offering as unanticipated events or opportunities arise.

**DESCRIPTION OF BUSINESS**

**Organization**

The Company was incorporated in Delaware on November 14, 2024.

Meridian Veterinary Investors Inc. is a special purpose vehicle ("SPV") established to facilitate investor aggregation for Regulation A fundraising. If sufficient funds are raised after a successful crowdfunding round under Regulation A, the SPV currently plans to invest, subject to the approval of the SPV's Board of Directors, available proceeds in Meridian Veterinary Holdings, LLC ("Holdings"). Holdings, if together with such invested proceeds, has sufficient capital otherwise available, desires to acquire a specialty veterinary hospital located in Chicago, Illinois, or other identified property, on behalf of all of its investors. Historic financial information on such veterinary hospital is attached as Exhibit 8.1.

There is currently no trading market for our securities, and none is likely to develop in the near future. We qualify as an Emerging Growth Company under the JOBS Act, which will entitle us to reduced reporting obligations for a limited period of time in the future should we become subject to the reporting requirement under the Exchange Act.

Our principal executive offices are located at 3811 Turtle Creek Boulevard, Suite 875, Dallas, Texas 75219 and our telephone number is (214) 651-4000.

**Business Operations**

We were formed to (i) acquire or develop specialty and emergency veterinary hospitals and other related pet wellness projects ("Project Investments") through the Project Companies for investment purposes (with any development expected to consist of either the ground-up development of a new Project or the re-development of existing improvements and conversion into a Project), (ii) lease each Project to a highly qualified veterinary specialty hospital operator or animal care facility operator (the "Operator"), or, in the case of an existing leased Project, assume the relevant lease or leases, and (iii) obtain a return on each Project Investment for the Company through distributions of available cash flow derived from the rent payments under such lease and realize capital appreciation upon the eventual sale, exchange, refinancing, recapitalization or other disposition of each such Project.

**Intellectual Property**

We do not own any intellectual property as of the date of this Offering Circular.

**Compensation for "Leasing" of Employees**

We do not have any employees and that any personnel providing services to us will be provided by Meridian Realty Advisors' employees at no cost to the Company pursuant to a Loaned Employee Agreement attached as Exhibit 7.1 Meridian Realty Advisors agrees, in light of potential economic benefits, including fees, it may derive from the success of the Project Companies, to compensate its employees for their time in assisting us and the Company.

**Reports to Security Holders**

We are required to keep appropriate books of the business at our principal offices. The books will be maintained for both tax and financial reporting purposes on a basis that permits the preparation of financial statements in accordance with GAAP. For financial reporting purposes and tax purposes, the fiscal year and the tax year are the calendar year, unless otherwise determined by our Board of Directors in accordance with the Internal Revenue Code. We will file with the SEC periodic reports as required by applicable securities laws.

Under the Securities Act, we must update this Offering Circular upon the occurrence of certain material events. We will file updated Offering Circulars and Offering Circular supplements with the SEC. We are also subject to the informational reporting requirements of the Exchange Act that are applicable to Tier 2 companies whose securities are offered pursuant to Regulation A, and accordingly, we will file annual reports, semiannual reports and other information with the SEC. We will provide such documents and periodic updates electronically through the SEC's EDGAR system at www.sec.gov. We will provide holders with copies via email or paper copies at any time upon request.

**Transfer Agent**

We have engaged DealMaker Transfer Agent LLC as our transfer agent.

**Bankruptcy, Receivership, Etc.**

Not applicable.

**Legal Proceedings**

We are not aware of any pending or threatened legal proceedings in which we are involved.

**Reclassification, Merger, Consolidation, Etc.**

Not applicable.

**DESCRIPTION OF PROPERTY**

The Company does not currently own any real property and shares its corporate offices with Meridian Realty Advisors at 3811 Turtle Creek Boulevard, Suite 875, Dallas, Texas 75219. We believe that all such property has been adequately maintained, is generally in good condition, and is suitable and adequate for our business.

**MANAGEMENT'S DISCUSSION AND ANALYSIS**

**OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

**Overview**

Since its formation on November 14, 2024, our Company has been engaged primarily in formulating its business plan and developing the financial, offering and other materials to begin fundraising. We are considered to be a development stage company, since we are devoting substantially all of our efforts to establishing our business and planned principal operations have not commenced.

**Operating Results**

We have not generated any revenues. We do not intend to generate revenues for at least three months after the offering commences.

**Liquidity and Capital Resources**

As of November 25, 2025, our Company did not have cash or cash equivalents or assets that can be liquidated. We do not currently have any significant capital commitments, except the agreement to repay Meridian Realty Advisors' for offering expenses incurred on our behalf which will be repaid through offering proceeds. Our sole source of capital until we make Project Investments that generate revenues are planned to be monies raised through this offering.

**Plan of Operations**

We have not commenced operations, are not capitalized and have no assets or liabilities. We intend to fund our first Project Investment within 6 months after the offering commences. The number of Project Investments that the Company will be able to finance over its first 12 months will depend on the amount we are able to raise in this offering.

We believe that the proceeds from this offering will satisfy our cash requirements for more than the next 12 months to implement the foregoing plan of operations.

**Prior History of Meridian Realty Advisors, Sponsor and its Affiliates**

Meridian Realty Advisors, LLC ("Meridian Realty Advisors"), which was formed in 1994, is a full-service real estate investment management and advisory company in Dallas, Texas. Meridian Realty Advisors has sponsored programs that have invested in real estate assets including multi-family, retail shopping centers, for-sale condominiums and townhomes, office buildings and senior living. Since its inception, Meridian Realty Advisors has participated in the acquisition and disposition of more than $1 billion in real estate assets and portfolios and currently manages an investment portfolio with an aggregate value in excess of $250 million. In combination with its various investment partners, Meridian Realty Advisors has placed over $350 million of equity into its sponsored real estate ventures, which have acquired and developed real estate assets in 14 states throughout the United States.

Meridian Realty Advisors has completed the ground up development of 25 human healthcare facilities with an estimated completed value of $400 million. Meridian Realty Advisors has an additional 4 healthcare facilities in Texas, Colorado, and Tennessee. In 2017, Meridian Realty Advisors completed a 64-unit high-rise beachfront condominium project along the Gulf Coast of Florida with an estimated completed value of $70 million. Meridian has recently completed the construction of a 98-unit assisted living and memory care facility located in Clear Lake, Texas. The Clear Lake project was completed for a total cost of $25 million. Construction on a 100-unit assisted living and memory care facility located in Nashville, Tennessee, was completed and opened in 2022 and is now currently under contract to be sold.

Meridian Realty Advisors has syndicated and co-invested in approximately 15 equity and note offerings since March 1997, through which Meridian and its affiliates raised approximately $65 million of equity and subordinated debt. All 17 of these programs have been completed. The 15 offerings consist of twelve-note programs, two limited liability company unit offerings and one preferred member equity unit/note combination offering. The note offerings generally raised between $1 million and $4 million. Nine of the twelve closed note offerings returned all principal balance of such notes and all accrued interest and other amounts due under the terms of the notes. The remaining three note offerings did not provide a full repayment of principal to noteholders, with one returning an aggregate (through distributions and return of capital) of approximately 87% of the noteholders' principal investment, another returning 50% of the noteholders' principal investment (solely through interest payments) and a third returning 57% of the noteholders' principal investment (solely through interest payments).

**<u>VETERINARY SPECIALTY HOSPITAL TRACK RECORD</u>**

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| | |
|:---|:---|
| **Metric** | **Amount/Description** |
| Total real estate acquisitions and dispositions since inception | > $1.0 billion |
| Current assets under management (AUM) | > $250 million |
| Aggregate equity invested (with partners) | > $350 million |
| States with sponsored real estate ventures | 14 |
| Human healthcare facilities developed (ground-up) | 25 facilities; estimated completed value ≈ $650 million |
| Notable development | 64-unit beachfront condominium (Florida, completed 2017; estimated completed value ≈ $70 million) |
| Assisted living/memory care | 98-unit project in Clear Lake, Texas (completed; total cost ≈ $25 million); 100-unit project in Nashville, Tennessee (completed 2022; currently under contract to be sold) |

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 **<u>Note Offerings — Repayment Detail</u>**

 ****

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| | | |
|:---|:---|:---|
| **Note Program Outcome** | **Count** | **Investor Repayment Detail** |
| Full repayment (principal and all accrued interest) | 9 | Returned all principal and all accrued interest and other amounts due |
| Partial repayment | 3 | One returned ≈ 87% of principal (through distributions and return of capital); one returned 50% of principal (solely through interest payments); one returned 57% of principal (solely through interest payments) |

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 **<u>Veterinary Specialty Hospital Transactions — Prior Projects (Sponsor/Affiliates)</u>**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Market** | **Vehicle** | **Acquisition/Start** | **Total<br> Project Cost** | **Status/Outcome** | **Operator/Lease** |
| Wheat Ridge, Colorado | Affiliates of Sponsor | Equity investment May 2016; sold March 2018 | ≈$15 million | Renovation/expansion to 37,000 sf hospital; sold at favorable price; positive financial outcome to equity investors | Veritas Veterinary Partners |
| Dallas, Texas | Texas Veterinary Specialty Hospital Investors, LLC | Offering closed Apr 2017 ($4,475,000 raised); construction Oct 2017–Feb 2019 | ≈ $11.5 million | Completed; 100% leased | MedVet Associates, LLC; long-term lease |
| Chicago, Illinois | MV Chicago, LLC | Offering closed Jan 2018 ($8.4 million raised); construction Q1 2018–Jun 2019 | ≈ $23.4 million | Completed; 100% leased | MedVet; triple net lease; primary term 15 years |

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 **<u>Fund I — Veterinary Specialty and Emergency Hospitals Program</u>**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Program** | **Structure** | **Offering Period** | **Capital<br> Commitments** | **Initial Closing** | **Strategy** |
| **Fund I** | Pledge fund | Through Oct 31, 2020 (closed) | $20,000,000 (minimum met) | Nov 15, 2018 | Acquire, construct, renovate, develop, and exit veterinary specialty and emergency hospitals and animal care facilities |

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 **<u>Fund I Investments</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Market/Asset** | **Vehicle** | **Acquisition/Completion** | **Purchase<br> Price/Total<br> Cost** | **Rent Status** | **Operator/Lease<br> Terms** | **Notes** |
| Austin, Texas (to-be-built) | Meridian Austin Pathway, LLC | Lease executed Sep 2019; construction Dec 2019–Oct 2020 | Total cost ≈ $8.8 million | 100% leased | Pathway Veterinary Alliance LLC; 15-year lease | Specialty and ER hospital |
| Grapevine, Texas | Meridian MVC Grapevine, LLC | Acquired Dec 16, 2019 | Purchase price ≈ $12,825,000 | 100% leased | MedVet Associates, LLC; Veterinary Specialists of North America, LLC (Compassion First) | Two medical office buildings; 26,929 sf; 3.15 acres |
| Sugar Land, Texas | Meridian MVC Sugar Land, LLC | Acquired Dec 30, 2019 | Purchase price ≈ $4,800,000; renovation ≈ $2,700,000; additional oncology renovation ≈ $435,000 | 100% leased | Lakefield Veterinary Group, Inc.; master lease | Renovation/expansion to ≈ 18,650 sf; added ORs, MRI suite upgrades, radiosurgery program |
| Dallas, Texas (Trinity Mills) | Meridian MVC Trinity Mills, LLC | Acquired Jun 8, 2020 | Purchase price ≈ $13,500,000 | 100% leased | Multiple specialty practices; absolute net leases | 39,887 sf; tenants include Mars/VCA, Compassion First, IDEXX Laboratories |
| Lewisville, Texas | Meridian MVC BP-Lewisville, LLC | Acquired Sep 15, 2020 | Purchase price ≈ $7,050,000 | 100% leased | BluePearl Operations, LLC; triple net lease | 17,578 sf; ≈ 7 years remaining primary term; two 5-year extensions |
| Mansfield, Texas | Meridian MVC Pathway-Mansfield, LLC | Anticipated acquisition on/before Nov 16, 2020; expansion completed Mar 2024 | Purchase price ≈ $5,250,000 | 100% leased | Pathway Vet Alliance, LLC; triple net lease; 10-year primary term; two 5-year extensions | Existing 7,394 sf building plus ≈ 14,000 sf expansion |

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 **<u>Fund II — Veterinary Specialty and Emergency Hospitals Program</u>**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Program** | **Structure** | **Offering Period** | **Capital<br> Commitments** | **Initial Closing** | **Strategy** |
| Fund II | Program substantially similar to Fund I | Ended Sep 1, 2023 (closed) | $50,000,000 (minimum met) | Jul 19, 2021 | Acquire, construct, renovate, develop, and exit veterinary specialty and emergency hospitals and animal care facilities |

---

 **<u>Fund II Investments</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Market/Asset** | **Vehicle** | **Acquisition/Completion** | **Purchase Price/Total Cost** | **Rent Status** | **Operator/Lease Terms** | **Notes** |
| Albuquerque, New Mexico | Meridian MVC Pathway Albuquerque, LLC | Acquired Sep 30, 2021 | Purchase price ≈ $3,825,000 | 100% leased | Thrive Pet Healthcare (f/k/a Pathway Vet Specialists) | 16,182 sf hospital on 1.35 acres |
| Mesquite (Dallas), Texas | Meridian MVC BP Mesquite, LLC | Acquired Dec 17, 2021 | Purchase price ≈ $3,000,000 | 100% leased | BluePearl Pet Hospitals | 7,018 sf; option to acquire adjacent 1.5-acre tract for ≈ 12,000 sf expansion |
| San Antonio, Texas (CeeGee) | MVC Pathway San Antonio, LLC | Lease executed Feb 2022; construction Sep 2022–Feb 2024 | Building purchase ≈ $3,700,000; total estimated project cost ≈ $18.1 million | 100% leased; relocation completed Feb 2024 | Thrive Pet Healthcare; 15-year lease | Advanced equipment (MRI, CT, X-ray, C-Arm, Ultrasound); existing facility at 8503 Broadway previously ≈ 9,000 sf |
| Scottsdale, Arizona | MVC Pathway Scottsdale, LLC | Lease executed Nov 2023; construction commenced Jun 2024; est. completion Dec 2025 | Building purchase ≈ $6,550,000; total estimated project cost ≈ $16.45 million | 100% leased | Thrive Pet Healthcare; 15-year lease | ≈ 22,500 sf; expansion adjacent to existing Pathway facility |
| Plano, Texas | Meridian MVC Custer Road Associates, LLC | Purchased Nov 2024 | 10225 Custer Road; 9,308 sf on 2.8 acres | 100% leased | VCA (Animal Diagnostic Clinic) and Ethos Veterinary Health (Dallas Veterinary Surgical Center; Emergency Animal Hospital of Collin County) | Specialty and ER services; potential expansion on excess land |
| Atlanta, Georgia | Meridian MVC MedVet Atlanta, LLC | Purchased October 2025 | Building purchase ≈ $7,140,000; total estimated project cost ≈ $16.150 million | 100% leased | MedVet Associates, LLC; 18-year NNN lease | Specialty Vet Hospital; 26,533sf |

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The performance projections for the current opportunity are informed by Meridian Realty Advisors' prior activities and experience in relevant asset classes, including veterinary specialty and emergency hospitals. While we believe that the instant opportunity's performance projections are informed by Meridian Realty Advisor's prior performance experiences, prior performance cannot be a guarantee of future profitability.

**Trends**

According to the Strategic Insights for the Pet Industry – Pet Owners 2023 and Beyond and the APPA National Pet Owners Survey, reports authored by the American Pet Products Association, Inc. ("APPA"), the United States population of companion animals is approximately 207 million, including about 184 million dogs and cats. APPA estimates that approximately $136.8 billion was spent in the United States on pets in 2022 for veterinary care, supplies, medicine and boarding and grooming. Preliminary calculations indicate approximately $143.6 billion was spent in 2023, with a projected $150.6 billion of spending on pets in 2024. The survey indicated that the ownership of pets is widespread. Currently, sixty-three percent (63%) of U.S. households have pets which means 180 million adult consumers live in 86.9 million households that own a pet. Specifically, 65 million households had at least one dog and 47 million households had at least one cat. Potential investors can access the APPA study at https://www.americanpetproducts.org/docs/default-source/admin/appa-soi-2024_preview.pdf?sfvrsn=e30aff4b_1

The Company believes that the size and prevalence of companion animals in the United States provides a unique investment opportunity in the animal healthcare industry. In particular, the Company's interest in pursuing real estate investments tied to veterinary specialty services is due to many compelling factors with respect to the animal healthcare industry. These factors include (i) a significantly higher specialty practice revenue model and higher expected EBITDA margin versus general veterinary practices, (ii) a larger market capture rate for specialty services and emergency care facilities of 15-25 miles compared to 2-3 miles for general practices, and (iii) greater average annual practice revenue growth rates. In 2021 only six percent (6%) of all veterinary practices nationally were veterinary specialty hospitals but these specialty hospitals accounted for nearly fourteen percent (14%) of the estimated $49 billion in total veterinary service revenues. Specialty service revenues have grown at an average annual rate of approximately eleven and one-third percent (11.3%).

In addition, there is a growing awareness among pet owners of pet health and the availability of preventative care and veterinary specialty services. Technological advances are being made in animal healthcare on pace with such advances in human healthcare and, as a result, more sophisticated diagnostic testing, imaging, equipment and treatments are available for companion animals. These new and increasingly complex procedures and diagnostic tests (including laboratory testing and advanced imaging) and pharmaceuticals are gaining wider acceptance as pet owners are exposed to these previously unconsidered treatment programs through their exposure with this technology in human healthcare, and through literature and marketing programs sponsored by large pharmaceutical and pet nutrition companies. Veterinary specialists provide advanced medicine and high-quality care particularly in surgery, oncology, neurology, cardiology, dermatology and internal medicine. Pet owners consider their pets to be members of the family so they are increasingly seeking more advanced care than can be provided by general practitioners. As the increased "humanization" of pets continues, the Company believes growth in the veterinary specialty services industry should expand further with an increased pet population penetration rate and anticipated spend per pet.

Currently, veterinary specialty practice visits account for approximately four and eight-tenths percent (4.8%) of all veterinary visits, which compares to human specialist visits at approximately fifty-three percent (53%) of all human medicine visits. the Company believes that the veterinary specialty services industry is poised for significant growth in the coming years should pet visit levels converge with human visit levels even slightly. Veterinary specialty medicine is also expected to grow naturally with human population growth as the number of pets per human in the United States has remained at approximately 0.6 per person. Advanced healthcare for pets will result in longer and healthier lives for pets and further fuel the expected overall revenue growth in veterinary specialty services.

The Company also believes that currently expensive medical procedures will become more affordable as companion animal health insurance continues to evolve. In addition, even as treatments available in veterinary medicine become more complex, prices for veterinary services typically remain a low percentage of a pet owner's income, facilitating payment at the time of service. Unlike the human healthcare industry, providers of veterinary services are not dependent on third-party payers to collect fees for services. As such, providers of veterinary services typically do not have the problems of extended payment collection cycles or pricing pressures from third-party payers faced by human healthcare providers.

Historically and in many markets, the "condo" model of veterinary specialty services has been typical. In the condo model, a group of individual specialists operate separately, but in close proximity to one another. These practices have separate operational, accounting and other systems as well as personnel. As veterinarians are now graduating with greater debt loads, a startup practice which entails significant costs has become less desirable for young veterinarians than joining an existing practice that offers starting salaries at an average of $105,000 per year. Further, there has been a long-term shift in the demographics and ownership aspirations of graduating veterinarians, with approximately eighty percent (80%) of veterinary school enrollment now female in what was historically a male dominated industry. Fewer than fifty percent (50%) of the female graduates have aspirations of owning a practice. In addition, young veterinarians show a growing trend to pursue post-graduate training. These two fundamental changes support the growth of specialized companion animal healthcare in a corporate platform environment.

The Company believes that the facts and trends outlined above, together with the fragmented existing specialty services market, indicate a shift away from the condo model to a single practice model that provides multiple discipline specialty services in a single facility. There are several veterinary specialty service providers in the United States that operate specialty and emergency clinics that depend on referrals from the community of general practitioners. This model provides a platform for operational efficiency, a collaborative approach to animal healthcare, on-site proximity to a variety of specialists and access to advanced medicine through affiliated practices in numerous markets. Many such specialty service providers offer educational opportunities through internships and residency programs, grooming new veterinarian school graduates for the future. Veterinarians practicing in a single-facility multi-discipline specialty practice are allowed to focus on animal healthcare with a significantly reduced administrative burden. Furthermore, the Company believes that a focus on client and referral partner experience at the facility level, through communication and improved patient outcomes, will drive increasing revenues.

The practice of veterinary medicine is subject to seasonal fluctuation. In particular, demand for veterinary services is significantly higher during the warmer months because pets spend a greater amount of time outdoors, where they are more likely to be injured and are more susceptible to disease and parasites. In addition, use of veterinary services may be affected by levels of infestation of fleas, heartworms and ticks, and the number of daylight hours.

The availability of advanced healthcare for companion animals has also resulted in significant increases in the average lifespan of dogs and cats. The increased lifespan comes with the usual maladies of aging and the need for additional medical treatments.

The facts and trends described above have been obtained through research from multiple sources including APPA, Association of American Veterinary Medical Colleges, Specialty Veterinary Partners and American Veterinary Medical Association publications, Felsted Veterinary Consultants, Inc., IBIS World Research, University of California; specialty and emergency salaries; Nationwide Purdue Veterinary Price Index (2015-2017) and US Bureau of Labor Statistics.

**DIRECTORS, EXECUTIVE OFFICERS, AND SIGNIFICANT EMPLOYEES**

Our Board of Directors is elected annually by our shareholders. The Board of Directors elects our executive officers annually.

Our directors and executive officers as of the date of this Agreement are as follows:

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| | | | |
|:---|:---|:---|:---|
| **Name** | **Position** | **Age** | **Term of Office** |
| Curtis R. Boisfontaine, Jr. | President, Director | 66 | December, 2024 – Present |
| David K. Ronck | Secretary, Treasurer, Director | 66 | December, 2024 – Present |

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**Curtis R. Boisfontaine,** has been active in the real estate investment industry since 1984. From 1984-1988 he was associated with the Dallas, Texas based Preston Carter Company, a local property management and investment sales firm. From 1988-1991, he was employed by Landmark Land Company as Executive Vice President and Director of real estate acquisitions for Landmark Land Company's Affiliate, Oak Tree Capital, Inc. From 1991 to the 1994, he has served as Chief Executive Officer of Dallas-based Hampton Real Estate Group and as President of Meridian Capital Corporation. Mr. Boisfontaine formed Meridian Realty Advisors, L.P. ("Meridian") in 1994 and has served as its President and CEO since its formation. Mr. Boisfontaine completed his formal education in 1981 at Tulane University where he studied economics.

**David K. Ronck,** is a Certified Public Accountant in the State of Texas and has been involved in the real estate industry since 1985. From 1985 through 1990 he served as Chief Financial Officer with The Cambridge Companies, Senior Vice President of Finance at Bright Realty Corporation and as a Senior Asset Manager with the J. E. Robert Companies. In late 1990, Mr. Ronck assumed the position of Chief Operating Officer of Gordon Investment Corporation's U.S. real estate subsidiary, and held that position until joining Meridian in 1995, where he serves as President of Meridian Realty Advisors, L.P. Mr. Ronck, who is the President of MRA, Inc., began his career as an accountant with the accounting firm of Arthur Andersen & Co., and holds a Bachelor of Science degree in Accounting from Oklahoma State University.

**Board Committees**

We have not established any committees of the Board of Directors.

**Family Relationships**

There are no familial relationships between any of our officers and directors.

**Director or Officer Involvement in Certain Legal Proceedings**

Our current directors and executive officers have not at any time in the past five (5) years been convicted in a criminal proceeding (excluding traffic violations and other minor offenses) and no petition under the federal bankruptcy laws or any state insolvency law was filed by or against, or a receiver, fiscal agent or similar officer was appointed by a court for the business or property of any such officers or directors, or any partnership in which they were a general partner at or within two years before the time of such filing, or any corporation or business association of which he was an executive officer at or within two years before the time of such filing.

**Code of Ethics**

We have not adopted a Code of Ethics.

**COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS**

As of the date of this offering circular, we have not paid any compensation to our officers and directors and do not intend to pay any such compensation in the near future. Our officers and directors will receive compensation from Meridian for their services to Meridian and its subsidiaries. Notwithstanding the foregoing, we may reimburse Meridian for employee time should our leased employees spend significant time on our operations.

**SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITYHOLDERS**

As of the date of this Offering Circular, we have issued one Share to each Director, representing one hundred percent (100%) of our outstanding Shares, which will be redeemed by the Company upon issuing Shares in this Offering.

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

Except as described herein (or within the section entitled Executive Compensation of this prospectus), none of the following parties (each a "Related Party") has, since inception to the period ended August 13, 2025, had any material interest, direct or indirect, in any transaction with us or in any presently proposed transaction that has or will materially affect us:

● any of our directors or officers;

● any nominee for election as a director;

● any person who beneficially owns, directly or indirectly, shares carrying more than ten percent (10%) of the voting rights attached to our outstanding shares of common stock; or

● any member of the immediate family (including spouse, parents, children, siblings and in- laws) of any of the above persons.

Meridian and/or its affiliates have paid for all of the Company's offering expenses, which will be reimbursed by the Company.

The Company has issued one Share to each Director at par value.

**Conflicts of Interest**

The investors must rely on the general fiduciary standards and other duties that may apply to our management to prevent unfairness by any of the aforementioned in a transaction with the Company.

There may be conflicts of interests between the Company, its management and investors. Our officers and directors are officers and/or directors of Meridian and may serve as management for its SPEs. Investors will have no right to participate in such entities or have any rights to the assets or operations of Meridian or its SPEs or any other entities owned or managed by our management. To the extent our management is required to spend time on management of such entities, they may not be able to devote full-time to the Company's operations. Our management will try to balance our interests with their duties to other entities. However, to the extent that such persons take actions that are more favorable to other entities than to us, these actions could have a negative impact on our financial performance and, consequently, on distributions to our investors and the value of our interests.

Certain legal, accounting and other advisors of the Company may also serve as representatives or agents of Meridian, or affiliates. As a result, conflicts of interests could arise and in such cases, such representatives or agents may have to withdraw from representation of the Company if such conflicts cannot be resolved.

The Company does not have any formal policies in place to resolve conflicts of interest.

**SECURITIES BEING OFFERED**

The following description is a summary of the material rights of shareholders. Shareholder rights are dictated via the Company's Certificate of Incorporation and Bylaws, each as amended from time to time. The foregoing documents have been filed as exhibits to this Offering Statement.

None of our securities are currently listed or quoted for trading on any national securities exchange or national quotation system.

<u>Common Stock</u>

We are authorized to issue 10,000,000 Shares of Common Stock. As of the date of this Offering Circular, the Company has issued one share to each Director.

Each Share entitles the holder to one vote, either in person or by proxy, at meetings of shareholders. The holders are not permitted to vote their shares cumulatively. Shareholders may take action by written consent.

Holders of our common stock have no pre-emptive rights or other subscription rights, conversion rights, redemption or sinking fund provisions. Upon our liquidation, dissolution or winding up provisions, the holders of our common stock will be entitled to share ratably in the net assets legally available for distribution to shareholders after the payment of all of our debts and other liabilities.

To the extent that funds are legally available, holders of common stock may receive up to an eight percent (8%) target dividend, if and when declared by the Board of Directors. We have not paid any dividends to common shareholders since our inception.

<u>Disclosure of commission position on indemnification for securities liabilities</u>

The Company's Bylaws and Certificate, subject to the provisions of Delaware Law, contain provisions which allow the corporation to indemnify its officers and directors against liabilities and other expenses incurred as the result of defending or administering any pending or anticipated legal issue in connection with service to the Company if it is determined that person acted in good faith and in a manner which he or she reasonably believed was in the best interest of the Company. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers and controlling persons, we have been advised that in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Securities Act of 1933 and, therefore, may be unenforceable.

<u>Dividends</u>

We have not paid any dividends to date. To the extent that funds are legally available, holders of common stock may receive up to an eight percent (8%) target dividend, if and when declared by the Board of Directors.

**Important Provisions of Delaware Law and Our Certificate And Bylaws**

The following is a summary of important provisions of the DGCL, our Certificate and our bylaws, copies of each of which are available upon request. See "Available Information."

<u>The Board of Directors</u>

Our bylaws provide that the number of directors of our company may be established by our board of directors but may not be fewer than the minimum number permitted under the DGCL (currently, one) nor more than five. Any vacancy will be filled, at any regular meeting or at any special meeting called for that purpose, by a majority of the remaining directors, except that a vacancy resulting from an increase in the number of directors may be filled by a majority of our entire board of directors.

<u>Removal of Directors</u>

<u>Liability and Indemnification of Officers and Directors</u>

Delaware law permits a Delaware corporation to include in its Certificate a provision limiting the liability of its directors and officers to the corporation and its stockholders for money damages except for liability resulting from (1) actual receipt of an improper benefit or profit in money, property or services or (2) active and deliberate dishonesty established by a final judgment and that is material to the cause of action. Our Certificate contain such a provision that eliminates directors' and officers' liability to the maximum extent permitted by Delaware law.

Our Certificate authorize us, to the maximum extent permitted by Delaware law, to indemnify any present or former director or officer or any individual who, while our director and at our request, serves or has served another corporation, real estate investment trust, partnership, joint venture, trust, employee benefit plan or other enterprise as a director, officer, partner or trustee, from and against any claim or liability to which that person may become subject or which that person may incur by reason of his status as a present or former director or officer of ours and to pay or reimburse their reasonable expenses in advance of final disposition of a proceeding. Our bylaws obligate us, to the maximum extent permitted by Delaware law, to indemnify any present or former director or officer or any individual who, while our director and at our request, serves or has served another corporation, real estate investment trust, partnership, joint venture, trust, employee benefit plan or other enterprise as a director, officer, partner or trustee and who is made a party to the proceeding by reason of his service in that capacity from and against any claim or liability to which that person may become subject or which that person may incur by reason of his or her status as a present or former director or officer of ours and to pay or reimburse their reasonable expenses in advance of final disposition of a proceeding. The Certificate and bylaws also permit us to indemnify and advance expenses to any person who served a predecessor of ours in any of the capacities described above and any employee or agent of ours or a predecessor of ours.

<u>Business Combinations</u>

Because we are incorporated in Delaware, we are governed by the provisions of Section 203 of the Delaware General Company Law, which generally, subject to certain exceptions, prohibits a Delaware corporation from engaging in any of a broad range of business combinations with any "interested" stockholder for a period of three years following the date on which the stockholder became an "interested" stockholder.

A person is not an interested stockholder under the statute if the board of directors approved in advance the transaction by which he otherwise would have become an interested stockholder. However, in approving a transaction, the board of directors may provide that its approval is subject to compliance, at or after the time of approval, with any terms and conditions determined by the board.

A business combination between the Company and an interested stockholder must be approved by the affirmative vote of at least two-thirds of the votes entitled to be cast by holders of voting stock of the corporation other than shares of voting stock held by the interested stockholder with whom or with whose affiliate the business combination is to be effected or held by an affiliate or associate of the interested stockholder.

<u>Amendment to Our Certificate</u>

Our Certificate generally may be amended only by the affirmative vote of the holders of not less than a majority vote of all of the votes entitled to be cast on the matter.

<u>Advance Notice of Director Nominations and New Business</u>

Our bylaws provide that with respect to an annual meeting of stockholders, nominations of persons for election to our board of directors and the proposal of business to be considered by stockholders may be made only (i) pursuant to our notice of the meeting, (ii) by our board of directors or (iii) by a stockholder of record who is entitled to vote at the meeting and who has complied with the advance notice procedures of our bylaws. With respect to special meetings of stockholders, only the business specified in our notice of the meeting may be brought before the meeting. Nominations of persons for election to our board of directors at a special meeting may be made only (i) pursuant to our notice of the meeting, (ii) by the board of directors or (iii) provided that the board of directors has determined that directors will be elected at the meeting, by a stockholder who is entitled to vote at the meeting and who has complied with the advance notice provisions of our bylaws.

<u>Anti-Takeover Effect of Certain Provisions of Delaware Law and Our Charter and Bylaws</u>

The business combination provisions, and the advance notice provisions of our bylaws could delay, defer or prevent a transaction or a change in the control of us that might involve a premium price for holders of our common stock or otherwise be in their best interest.

**ERISA CONSIDERATIONS**

Each respective member that is an employee benefit plan or trust (an "ERISA Plan") within the meaning of, and subject to, the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"), or an individual retirement account ("IRA") or Keogh Plan subject to the Internal Revenue Code, should consider the matters described below in determining whether to invest in the Company.

In addition, ERISA Plan fiduciaries must give appropriate consideration to, among other things, the role that an investment in the Company plays in such ERISA Plan's portfolio, taking into consideration (i) whether the investment is reasonably designed to further the ERISA Plan's purposes, (ii) an examination of the risk and return factors, (iii) the portfolio's composition with regard to diversification, (iv) the liquidity and current return of the total portfolio relative to the ERISA Plan's objectives and (v) the limited right of members to withdraw all or any part of their capital accounts or to transfer their interests in the Company.

If the assets of the Company were regarded as "plan assets" of an ERISA Plan, an IRA, or a Keogh Plan, our Manager of the Company would be a "fiduciary" (as defined in ERISA) with respect to such plans and would be subject to the obligations and liabilities imposed on fiduciaries by ERISA. Moreover, other various requirements of ERISA would also be imposed on the Company. In particular, any rule restricting transactions with "parties in interest" and any rule prohibiting transactions involving conflicts of interest on the part of fiduciaries would be imposed on the Company which may result in a violation of ERISA unless the Company obtained an appropriate exemption from the Department of Labor allowing the Company to conduct its operations as described herein.

Regulations adopted by the Department of Labor (the "Plan Regulations") provides that when a Plan invests in another entity, the Plan's assets include both the equity interest and an undivided interest in each of the underlying assets of the entity, unless it is established that, among other exceptions, the equity participation in the entity by "benefit plan investors" is not "significant." The Pension Protection Act of 2006 amended the definition of "benefit plan investors" to include only plans and plan asset entities (i.e., entities that are themselves deemed to hold plan assets by virtue of investments in them by plans) that are subject to part 4 of Title I of ERISA or section 4975 of the Internal Revenue Code. This new definition excludes governmental, church, and foreign benefit plans from consideration as benefit plan investors.

Under the Plan Regulations, participation by benefit plan investors is "significant" on any date if, immediately after the last acquisition, twenty-five percent (25%) or more of the value of any class of equity interests in the entity is held by benefit plan investors. The Company intends to limit the participation in the Company by benefit plan investors to the extent necessary so that participation by benefit plan investors will not be "significant" within the meaning of the Plan Regulations. Therefore, it is not expected that the Company assets will constitute "plan assets" of plans that acquire interests.

It is the current intent of the Company to limit the aggregate investment by benefit plan investors to less than twenty-five percent (25%) of the value of the members' membership interests so that equity participation of benefit plan investors will not be considered "significant." The Company reserves the right, however, to waive the twenty-five percent (25%) limitation.

ACCEPTANCE OF SUBSCRIPTIONS ON BEHALF OF INDIVIDUAL RETIREMENT ACCOUNTS OR OTHER EMPLOYEE BENEFIT PLANS IS IN NO RESPECT A REPRESENTATION BY OUR COMPANY OR ITS OFFICERS, DIRECTORS, OR ANY OTHER PARTY THAT THIS INVESTMENT MEETS ALL RELEVANT LEGAL REQUIREMENTS WITH RESPECT TO INVESTMENTS BY ANY PARTICULAR PLAN. THE PERSON WITH INVESTMENT DISCRETION SHOULD CONSULT WITH HIS OR HER ATTORNEY AND FINANCIAL ADVISERS AS TO THE PROPRIETY OF SUCH AN INVESTMENT IN LIGHT OF THE CIRCUMSTANCES OF THAT PARTICULAR PLAN AND CURRENT TAX LAW.

**EXPERTS**

Our financial statements for the period from inception to the date of this Agreement included in this offering circular have been audited by SetApart Accountancy Corp., as stated in its report appearing herein. Such financial statements have been so included in reliance upon the report of such firm given upon its authority as an expert in accounting and auditing.

**WHERE YOU CAN FIND ADDITIONAL INFORMATION**

We have filed with the SEC an offering statement on Form 1-A under the Securities Act with respect to the interests offered by this Offering Circular. This Offering Circular does not contain all of the information included in the Offering Statement, portions of which are omitted as permitted by the rules and regulations of the SEC. For further information pertaining to us and the interests to be sold in this offering, you should refer to the offering statement and its exhibits. Whenever we make reference in this offering circular to any of our contracts, agreements or other documents, the references are not necessarily complete, and you should refer to the exhibits attached to the offering statement for copies of the actual contract, agreement or other document filed as an exhibit to the offering statement or such other document, each such statement being qualified in all respects by such reference. Upon the qualification of this offering, we will be subject to the informational requirements of Tier 2 of Regulation A and will be required to file annual reports, semi-annual reports, current reports and other information with the SEC. We anticipate making these documents publicly available, free of charge, on our website as soon as reasonably practicable after filing such documents with the SEC.

You can read the Offering Statement and our future filings with the SEC over the Internet at the SEC's website at www.sec.gov. You may also read and copy any document we file with the SEC at its public reference facility at 100 F Street, N.E., Room 1580, Washington, D.C. 20549. You may also obtain copies of the documents at prescribed rates by writing to the Public Reference Section of the SEC. Please call the SEC at 1-800-SEC-0330 for further information on the operation of the public reference facilities.

We will answer inquiries from potential investors concerning the interests, the Company and other matters relating to the offer and sale of the Shares under this Offering Circular. We will afford the potential investors the opportunity to obtain any additional information to the extent we possess such information or can acquire such information without unreasonable effort or expense that is necessary to verify the information in this Offering Circular.

Requests and inquiries regarding this offering circular should be directed to:

**Meridian Veterinary Investors, Inc.**

3811 Turtle Creek Boulevard, Suite 875

Dallas, Texas 75219

Email: dronck@meridiancap.com

We will provide requested information to the extent that we possess such information or can acquire it without unreasonable effort or expense.

**MERIDIAN VETERINARY INVESTORS INC.**

**Audited Financial Statements**

**AS OF AND FOR THE PERIOD ENDED**

**November 14, 2024 (Inception Date)**

**Index to Financial Statements**

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| | |
|:---|:---|
|  | **Page** |
| [INDEPENDENT AUDITORS' REPORT](#fin1_001) | F-2 |
| FINANCIAL STATEMENTS: |  |
| &nbsp;&nbsp;&nbsp;[Balance Sheet](#fin1_002) | F-4 |
| &nbsp;&nbsp;&nbsp;[Statement of Operations](#fin1_003) | F-5 |
| &nbsp;&nbsp;&nbsp;[Statement of Changes in Stockholders' Equity](#fin1_004) | F-6 |
| &nbsp;&nbsp;&nbsp;[Statement of Cash Flows](#fin1_005) | F-7 |
| &nbsp;&nbsp;&nbsp;[Notes to Financial Statements](#fin1_006) | F-8 |

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![](image_001.jpg)

**INDEPENDENT AUDITORS' REPORT**

To the Board of Directors

Meridian Veterinary Investors Inc.

Wilmington, Delaware

**Opinion**

We have audited the financial statements of Meridian Veterinary Investors Inc., which comprise the balance sheet as of November 14, 2024 (Inception Date), and the related statement of operations, changes in stockholders' equity, and cash flows for the period ended November 14, 2024 (Inception Date) and the related notes to the financial statements (collectively, the "financial statements").

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Meridian Veterinary Investors Inc. as of November 14, 2024 (Inception Date), and the results of its operations and its cash flows for the period ended November 14, 2024 (Inception Date) in accordance with accounting principles generally accepted in the United States of America.

**Going Concern**

As discussed in Note 8, certain conditions indicate that the Company may be unable to continue as a going concern. The accompanying financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

**Basis for Opinion**

We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Meridian Veterinary Investors Inc. and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

**Responsibilities of Management for the Financial Statements**

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America and for 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.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Meridian Veterinary Investors Inc.'s ability to continue as a going concern for a period of twelve months from the date of issuance of these financial statements.

**Auditor's Responsibilities for the Audit of the Financial Statements**

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users made on the basis of these financial statements.

In performing an audit in accordance with GAAS, we:

● Exercise professional judgment and maintain professional skepticism throughout the audit.

● Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

● Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Meridian Veterinary Investors Inc.'s internal control. Accordingly, no such opinion is expressed.

● Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

● Conclude whether, in our judgment, there are conditions or events considered in the aggregate that raise substantial doubt about Meridian Veterinary Investors Inc.'s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.

**Other Matter – Special Purpose Vehicle**

The financial statements presented in this report are those of a Special Purpose Vehicle (SPV) and are intended to reflect the financial position and performance of the SPV itself on a stand-alone basis.

![](image_002.jpg)

January 02, 2025

Los Angeles, California

**MERIDIAN VETERINARY INVESTORS INC.**

**Balance Sheet**

---

| | |
|:---|:---|
| **As Of Inception** | **November 14,<br> 2024** |
| **(USD $ in Dollars)** |  |
| **ASSETS** |  |
| **Current Assets:** |  |
| Cash & Cash Equivalents | $- |
| **Total Current Assets** | **-** |
| **Total Assets** | $**-** |
| **LIABILITIES AND STOCKHOLDER'S EQUITY** |  |
| **Total Liabilities** | $**-** |
| **STOCKHOLDER'S EQUITY** |  |
| Common Stock |  |
| Accumulated Profit/(Deficit) | - |
| **Total Stockholder's Equity** | **-** |
| **Total Liabilities and Stockholder's Equity** | $**-** |

---

*See accompanying notes to financial statements.*

 

 

**MERIDIAN VETERINARY INVESTORS INC.**

**Statement of Operations**

 

---

| | |
|:---|:---|
| **For The Period Ended** | **November 14,<br> 2024** |
| (USD $ in Dollars) |  |
| Net Revenue | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| Cost Of Goods Sold | - |
| **Gross Profit/(Loss)** | **-** |
| **Operating Expenses** |  |
| General And Administrative | - |
| **Total Operating Expenses** | **-** |
| **Net Operating Income/(Loss)** | **-** |
| Interest Expense |  |
| Other Income/(Loss) | - |
| **Income/(Loss) Before Provision For Income Taxes** | **-** |
| Provision/(Benefit) For Income Taxes | - |
| **Net Income/(Net Loss)** | $**-** |

---

*See accompanying notes to financial statements.*

**MERIDIAN VETERINARY INVESTORS INC.**

**Statement of Changes in Stockholders' Equity**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Common Stock** | **Common Stock** | | |
| <br>**(USD $ in Dollars)** | **Shares** | **Amount** | **Accumulated**<br>**Profit/(Deficit)** | **Total Stockholder's**<br>**Equity** |
| **Balance—As of Inception November 14, 2024** |  | $**-** | $**-** | $**-** |
| Issuance of Common Stock |  |  |  |  |
| Net Income/(Loss) |  | - | - | **-** |
| **Balance—November 14, 2024** |  | $**-** | $**-** | $**-** |

---

 

*See accompanying notes to financial statements.*

 

**MERIDIAN VETERINARY INVESTORS INC.**

**Statement of Cash Flows**

 

---

| | |
|:---|:---|
| **For The Period Ended** | **November 14,<br> 2024** |
| (USD $ in Dollars) |  |
| **CASH FLOW FROM OPERATING ACTIVITIES** |  |
| Net Income/(Loss) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| **Net Cash Provided By/(Used In) Operating Activities** | **-** |
| **CASH FLOW FROM INVESTING ACTIVITIES** |  |
| **Net Cash Provided By/(Used In) Investing Activities** | **-** |
| **CASH FLOW FROM FINANCING ACTIVITIES** |  |
| **Net Cash Provided By/(Used In) Financing Activities** | **-** |
| **Change In Cash and Cash Equivalents** | **-** |
| Cash and Cash Equivalents—Beginning of The Period | - |
| **Cash and Cash Equivalents—End of the Period** | $**-** |
| **SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION** |  |
| Cash Paid During The Year For Interest | $- |

---

*See accompanying notes to financial statements.* 

 

 

**MERIDIAN VETERINARY INVESTORS INC.**

**Notes to Financial Statements**

**As Of And For The Period Ended November 14, 2024 (Inception Date)**

 

1. NATURE OF OPERATIONS

Meridian Veterinary Investors Inc. was formed on November 14, 2024, as a Delaware Corporation. The financial statements of Meridian Veterinary Investors Inc. (which may be referred to as the "Company", "we", "us", or "our") are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The Company's headquarters are located in Dallas, Texas.

Meridian Veterinary Investors Inc. is a special purpose vehicle (''SPV'') established to facilitate investor aggregation for Regulation A fundraising. After a successful crowdfunding round under Regulation A, the SPV will purchase securities of Meridian Veterinary Holdings, LLC which in turn will acquire a specialty veterinary hospital located in Chicago, Illinois, on behalf of the investors.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The summary of significant accounting policies is presented to assist in understanding the Company's financial statements. The accounting policies conform to accounting principles generally accepted in the United States of America ("GAAP" and "US GAAP").

**<u>Basis of Presentation</u>**

The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America ("US GAAP"). The Company has adopted the calendar year as its basis of reporting.

**<u>Use of Estimates</u>**

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

**<u>Cash and Cash Equivalents</u>**

Cash and cash equivalents include all cash in banks. The Company's cash is deposited in demand accounts at financial institutions that management believes are creditworthy. The Company's cash and cash equivalents in bank deposit accounts, at times, may exceed federally insured limits. As of November 14, 2024, the Company's cash and cash equivalents did not exceed FDIC-insured limits.

**<u>Revenue Recognition</u>**

The Company is currently pre-revenue and will follow the provisions and the disclosure requirements described in ASU 2014-09, also referred to as Topic 606. Revenue recognition, according to Topic 606, is determined using the following steps:

1) Identification of the contract, or contracts, with the customer: the Company determines the existence of a contract with a customer when the contract is mutually approved; the rights of each party in relation to the services to be transferred can be identified, the payment terms for the services can be identified, the customer has the capacity and intention to pay and the contract has commercial substance.

2) Identification of performance obligations in the contract: Performance obligations consist of a promised in a contract (written or oral) with a customer to transfer to the customer either a good or service (or a bundle of goods or services) that is distinct or a series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer.

3) Recognition of revenue when, or how, a performance obligation is met: Revenues are recognized when or as control of the promised goods or services is transferred to customers.

**MERIDIAN VETERINARY INVESTORS INC.**

**Notes to Financial Statements**

**As Of And For The Period Ended November 14, 2024 (Inception Date)**

 

**<u>Income Taxes</u>**

The Company is a C corporation for income tax purposes. The Company accounts for income taxes under the liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not that the deferred tax asset will not be realized. The Company records interest, net of any applicable related income tax benefit, on potential income tax contingencies as a component of income tax expense. The Company records tax positions taken or expected to be taken in a tax return based upon the amount that is more likely than not to be realized or paid, including in connection with the resolution of any related appeals or other legal processes. Accordingly, the Company recognizes liabilities for certain unrecognized tax benefits based on the amounts that are more likely than not to be settled with the relevant taxing authority. The Company recognizes interest and/or penalties related to unrecognized tax benefits as a component of income tax expense.

**<u>Concentration of Credit Risk</u>**

The Company maintains its cash with a major financial institution located in the United States of America which it believes to be creditworthy. Balances are insured by the Federal Deposit Insurance Corporation up to $250,000. At times, the Company may maintain balances in excess of the federally insured limits.

**<u>Fair Value of Financial Instruments</u>**

The carrying value of the Company's financial instruments included in current assets and current liabilities (such as cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to the short-term nature of such instruments).

The inputs used to measure fair value are based on a hierarchy that prioritizes observable and unobservable inputs used in valuation techniques. These levels, in order of highest to lowest priority, are described below:

 ****

***Level 1***—Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities.

 ****

***Level 2***—Observable prices that are based on inputs not quoted on active markets but corroborated by market data.

 ****

***Level 3***—Unobservable inputs reflecting the Company's assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

**<u>Subsequent Events</u>**

The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated through January 02, 2025, which is the date the financial statements were issued.

**MERIDIAN VETERINARY INVESTORS INC.**

**Notes to Financial Statements**

**As Of And For The Period Ended November 14, 2024 (Inception Date)**

3. STOCKHOLDERS' EQUITY

The Company is authorized to issue 10,000,000 shares of Common Stock at a par value of $0.0001 per share. As of November 14, 2024, no shares of Common Stock have been issued and are outstanding.

4. DEBT

The company has no debt outstanding as of November 14, 2024.

5. RELATED PARTY

There are no related party transactions as of November 14, 2024.

6. INCOME TAXES

The provision for income for the period ended November 14, 2024, is as follows:

---

| | |
|:---|:---|
| **For The Period Ended November 14,** | **2024** |
| Net Operating Loss | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| Valuation Allowance | - |
| **Net Provision for Income Tax** | $**-** |

---

Significant components of the Company's deferred tax assets and liabilities as of November 14, 2024, are as follows:

---

| | |
|:---|:---|
| **As of November 14,** | **2024** |
| Net Operating Loss | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| Valuation Allowance | - |
| **Total Deferred Tax Asset** | $**-** |

---

The company is a new entity formed on November 14, 2024, and does not currently have any taxable income or deferred tax assets. As the company generates future taxable income, it will assess the possibility of utilizing Net Operating Loss (NOL) carryforwards for tax purposes. The federal net operating loss carryforward is subject to an 80% limitation on taxable income, does not expire, and will carry on indefinitely. However, since the company is in its initial stages, it's too early to determine if sufficient taxable income will be generated to benefit from future tax deductions related to potential deferred tax assets.

The company recognizes the impact of a tax position in its financial statements only if it's more likely than not to be sustained upon examination by tax authorities based on the technical merits of the position. As of its inception date (November 14, 2024), the company has no prior operations and, consequently, no unrecognized tax benefits or accrued interest and penalties related to uncertain tax positions.

**MERIDIAN VETERINARY INVESTORS INC.**

**Notes to Financial Statements**

**As Of And For The Period Ended November 14, 2024 (Inception Date)**

7. COMMITMENTS AND CONTINGENCIES

**<u>Contingencies</u>**

The Company's operations are subject to various local and state regulations. Failure to comply with one or more of those regulations could result in fines, restrictions on its operations, or loss of permits that could result in the Company ceasing operations.

**<u>Litigation and Claims</u>**

From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As of November 14, 2024, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of the Company's operations.

8. GOING CONCERN

The Company has recently commenced operations and will incur significant additional costs to generate revenues sufficient to sustain operations. The Company might not have sufficient liquid assets to fulfill its obligations in the near future. These matters raise substantial doubt over the Company's ability to continue as a going concern. Over the next twelve months, the Company intends to fund its operations from the proposed Regulation Crowdfunding campaign, additional debt, and/or equity financing as deemed necessary. There are no assurances that management will be able to raise capital on terms acceptable to the Company. If the Company is unable to obtain sufficient amounts of additional capital, the Company may be required to reduce the scope of development, which may harm the operations, financial condition, and operating results. These financial statements do not include any adjustments resulting from these uncertainties.

9. SUBSEQUENT EVENTS

Subsequent to November 14, 2024 (Inception Date), the Company issued 500 shares of common stock with par value of $0.0001 at a strike price of $1.00 per share. As of the date these financials were available to be issued, the Company had 500 shares of common stock issued and outstanding.

**MERIDIAN VETERINARY INVESTORS, INC.**

**Audited Financial** **Statements**

**FOR THE PERIOD NOVEMBER 14, 2024 (INCEPTION DATE)**

**THROUGH DECEMBER 31, 2024**

**Index to Financial Statements**

---

| | |
|:---|:---|
|  | **Page** |
| [INDEPENDENT AUDITORS' REPORT](#fin2_001) | F-14 |
| FINANCIAL STATEMENTS: |  |
| &nbsp;&nbsp;&nbsp;[Balance Sheet](#fin2_002) | F-16 |
| &nbsp;&nbsp;&nbsp;[Statement of Operations](#fin2_003) | F-17 |
| &nbsp;&nbsp;&nbsp;[Statement of Changes in Stockholders' Deficit](#fin2_004) | F-18 |
| &nbsp;&nbsp;&nbsp;[Statement of Cash Flows](#fin2_005) | F-19 |
| &nbsp;&nbsp;&nbsp;[Notes to Financial Statements](#fin2_006) | F-20 |

---

![](image_001.jpg)

**INDEPENDENT AUDITORS' REPORT**

To the Board of Directors

Meridian Veterinary Investors, Inc.

Wilmington, Delaware

**Opinion**

We have audited the financial statements of Meridian Veterinary Investors, Inc., which comprise the balance sheet as of period from the inception date through December 31, 2024 and the related statements of operations, changes in stockholders' equity, and cash flows for the period from November 14, 2024 through December 31, 2024 and the related notes to the financial statements (collectively, the "financial statements").

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Meridian Veterinary Investors, Inc. as of period from the inception date through December 31, 2024 and the results of its operations and its cash flows for the period from November 14, 2024 through December 31, 2024 in accordance with accounting principles generally accepted in the United States of America.

**Going Concern**

As discussed in Note 7, certain conditions indicate that the Company may be unable to continue as a going concern. The accompanying financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

**Basis for Opinion**

We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Meridian Veterinary Investors, Inc. and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

**Responsibilities of Management for the Financial Statements**

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America and for 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.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Meridian Veterinary Investors, Inc.'s ability to continue as a going concern for a period of twelve months from the date of issuance of these financial statements.

**Auditor's Responsibilities for the Audit of the Financial Statements**

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users made on the basis of these financial statements.

In performing an audit in accordance with GAAS, we:

● Exercise professional judgment and maintain professional skepticism throughout the audit.

● Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

● Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Meridian Veterinary Investors, Inc.'s internal control. Accordingly, no such opinion is expressed.

● Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

● Conclude whether, in our judgment, there are conditions or events considered in the aggregate that raise substantial doubt about Meridian Veterinary Investors, Inc.'s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.

![](image_002.jpg)

October 16, 2025

Los Angeles, California

**MERIDIAN VETERINARY INVESTORS, INC.**

**Balance Sheet**

---

| | |
|:---|:---|
| **As of** | **31-Dec-24** |
| (USD $ in Dollars) |  |
| **ASSETS** |  |
| Current Assets: |  |
| &nbsp;&nbsp;&nbsp;Cash | $- |
| &nbsp;&nbsp;&nbsp;Deferred Offering Cost | 30809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Current Assets** | **30809** |
| **Total Assets** | $**30809** |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |
| Current Liabilities: |  |
| &nbsp;&nbsp;&nbsp;Accounts Payable | $8783 |
| &nbsp;&nbsp;&nbsp;Due to Related party | 22027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Current Liabilities** | **30809** |
| **Total Liabilities** | **30809** |
| **STOCKHOLDERS' Deficit** |  |
| Common Stock |  |
| Additional Paid in Capital |  |
| Accumulated Deficit | - |
| **Total Stockholders' Deficit** | - |
| **Total Liabilities and Stockholders' Deficit** | $**30809** |

---

*See accompanying notes to financial statements.*

**MERIDIAN VETERINARY INVESTORS INC.**

**Statement of Operations**

---

| | |
|:---|:---|
|  | **31-Dec-24** |
| (USD $ in Dollars) |  |
| &nbsp;&nbsp;&nbsp;Net Revenue | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;Cost of Goods Sold | - |
| &nbsp;&nbsp;&nbsp;**Gross Profit/ (Loss)** | **-** |
| **Operating Expenses** |  |
| &nbsp;&nbsp;&nbsp;General and Administrative |  |
| &nbsp;&nbsp;&nbsp;Selling and Marketing | - |
| &nbsp;&nbsp;&nbsp;**Total Operating Expenses** | **-** |
| **Net Operating Loss** | **-** |
| &nbsp;&nbsp;&nbsp;Interest Expense |  |
| &nbsp;&nbsp;&nbsp;Other Loss/(Income) | - |
| &nbsp;&nbsp;&nbsp;**Loss Before Provision for Income Taxes** | **-** |
| &nbsp;&nbsp;&nbsp;Provision/(Benefit) for Income Taxes | - |
| **Net Pofit / (Loss)** | $**-** |

---

*See accompanying notes to financial statements.*

**MERIDIAN VETERINARY INVESTORS, INC.**

**Statement of Changes in Stockholders' Deficit**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Common Stock** | **Common Stock** | | | |
| <br>**(USD)** | **Shares** | **Amount** | **Additional**<br>**Paid In**<br>**Capital** |<br>**Accumulated**<br>**Deficit** | **Total**<br>**Stockholders'**<br>**Deficit** |
| **Balance—November 14, 2024** |  | $**-** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| Common stock |  |  |  |  |  |
| APIC |  |  |  |  |  |
| Net Income / (Loss) |  | - | - | - | - |
| **Balance—December 31, 2024** |  | **-** | $**-** | $**-** | $**-** |

---

*See accompanying notes to financial statements.*

**MERIDIAN VETERINARY INVESTORS, INC.**

**Statement of Cash Flows**

---

| | |
|:---|:---|
|  | **31-Dec-24** |
| (USD $ in Dollars) |  |
| **CASH FLOW FROM OPERATING ACTIVITIES** |  |
| &nbsp;&nbsp;&nbsp;Net (Gain) / Loss | $&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;***Adjustments to Reconcile Net loss to Net Cash Used in Operating Activities*** |  |
| &nbsp;&nbsp;&nbsp;**Changes in Operating Assets and Liabilities:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts Payable | 8783 |
| **Net Cash Used In Operating Activities** | **8783** |
| **CASH FLOW FROM INVESTING ACTIVITIES** |  |
| **Net Cash Used in Investing Activities** | **-** |
| **CASH FLOW FROM FINANCING ACTIVITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowing on Shareholder Loans | 22027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred Offering Cost | (30809) |
| **Net Cash Provided by Financing Activities** | **(8783)** |
| **Change in Cash** | **-** |
| Cash —Beginning of The Period | - |
| **Cash —End of The Period** | $**-** |
| **SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION** |  |
| Cash Paid for Interest | $- |
| Cash paid for the tax | $- |

---

*See accompanying notes to financial statement*

**MERIDIAN VETERINARY INVESTORS, INC.**

**Notes to Financial Statements**

**AS OF December 31, 2024, AND FOR THE PERIOD FROM November 14, 2024, THROUGH December 31, 2024**

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

Meridian Veterinary Investors, Inc. was formed on November 14, 2024, as a Delaware Corporation. The financial statements of Meridian Veterinary Investors, Inc. (which may be referred to as the "Company", "we", "us", or "our") are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The Company's headquarters are located in Dallas, Texas.

The Company is a special purpose vehicle (SPV) formed to facilitate investors in fundraising. Subject to a successful crowdfunding round, the Company intends to use the proceeds to purchase securities of Meridian Veterinary Holdings, LLC. Meridian Veterinary Holdings, LLC plans to use those funds to pursue one or more potential acquisitions, including a specialty veterinary hospital located in Chicago, Illinois, on behalf of the investors.

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

The summary of significant accounting policies is presented to assist in understanding the Company's financial statements. The accounting policies conform to accounting principles generally accepted in the United States of America ("GAAP" and "US GAAP").

**<u>Basis of Presentation</u>**

The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America ("US GAAP"). The Company has adopted the calendar year as its basis of reporting.

**<u>Use of Estimates</u>**

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

**<u>Cash</u>**

Cash includes all cash in banks. The Company's cash in bank deposit accounts, at times, may exceed federally insured limits. As of December 31, 2024, the Company's cash did not exceed FDIC-insured limits.

**<u>Revenue Recognition</u>**

The Company has not recognized any revenue for the period from November 14, 2024, through December 31, 2024, and is considered pre-revenue. However, the Company has adopted ASC 606, Revenue from Contracts with Customers ("Topic 606"), and will apply the following revenue recognition policy when revenue-generating activities commence.

Under Topic 606, revenue is recognized in accordance with the following five steps:

-Identify the contract(s) with a customer.

-Identify the performance obligations in the contract.

-Determine the transaction price.

-Allocate the transaction price to the performance obligations.

-Recognize revenue when (or as) the Company satisfies a performance obligation by transferring control of the promised goods or services to the customer.

**MERIDIAN VETERINARY INVESTORS, INC.**

**Notes to Financial Statements**

**AS OF December 31, 2024, AND FOR THE PERIOD FROM November 14, 2024, THROUGH December 31, 2024**

**<u>Income Taxes</u>**

The Company is a C corporation for income tax purposes. The Company accounts for income taxes under the liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not that the deferred tax asset will not be realized. The Company records interest, net of any applicable related income tax benefit, on potential income tax contingencies as a component of income tax expense. The Company records tax positions taken or expected to be taken in a tax return based upon the amount that is more likely than not to be realized or paid, including in connection with the resolution of any related appeals or other legal processes. Accordingly, the Company recognizes liabilities for certain unrecognized tax benefits based on the amounts that are more likely than not to be settled with the relevant taxing authority. The Company recognizes interest and/or penalties related to unrecognized tax benefits as a component of income tax expense.

**<u>Concentration of Credit Risk</u>**

The Company maintains its cash with a major financial institution located in the United States of America which it believes to be creditworthy. Balances are insured by the Federal Deposit Insurance Corporation up to $250,000. At times, the Company may maintain balances in excess of the federally insured limits.

**<u>Fair Value of Financial Instruments</u>**

The carrying value of the Company's financial instruments included in current assets and current liabilities (such as cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximates fair value due to the short-term nature of such instruments.

The inputs used to measure fair value are based on a hierarchy that prioritizes observable and unobservable inputs used in valuation techniques. These levels, in order of highest to lowest priority, are described below:

***Level 1***—Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities.

***Level 2***—Observable prices that are based on inputs not quoted on active markets but corroborated by market data.

***Level 3***—Unobservable inputs reflecting the Company's assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

**<u>Related Party</u>**

The Company identifies related party transactions in accordance with ASC 850, Related Party Disclosures. Related parties include entities under common ownership or control, key management personnel, significant shareholders, and their immediate family members.

The Company evaluates all transactions with related parties to determine whether the terms are consistent with those that would be available in an arm's length transaction. All related party transactions are reviewed and approved by management or the board of directors (as applicable), and material balances or transactions are disclosed in the financial statements.

**MERIDIAN VETERINARY INVESTORS, INC.**

**Notes to Financial Statements**

**AS OF December 31, 2024, AND FOR THE PERIOD FROM November 14, 2024, THROUGH December 31, 2024**

Related party balances are classified as current or noncurrent on the balance sheet based on the expected timing of settlement and are measured in accordance with the Company's accounting policies for similar non-related party transactions.

**<u>Deferred Offering Cost</u>**

Equity issuance costs are costs directly attributable to the issuance of equity securities, including common stock and/or preferred stock. These costs generally include underwriting fees, legal fees, accounting fees, printing and filing fees, and other costs associated with the issuance of equity securities. Such costs are initially capitalized as deferred offering costs when incurred, and upon completion, these are charged against the proceeds of the offering.

**<u>Subsequent Events</u>**

The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated through October 16, 2025, which is the date the financial statements were issued.

**3.** **STOCKHOLDERS' EQUITY** 

The Company is authorized to issue 10,000,000 shares of Common Stock at a par value of $0.0001 per share. As of December 31, 2024, no shares are issued and are outstanding.

**4.** **RELATED PARTY TRANSACTIONS** 

The Company received funding from Meridian Veterinary Capital LLC, an entity under common ownership and therefore considered a related party. These funds were provided to support the Company's Regulation A offering and were used primarily to cover legal and advisory fees related to the syndication process.

The related party payable is non-interest-bearing, unsecured, and has no stated repayment terms. However, management expects to settle the liability within the next twelve months and has therefore classified the balance as a current liability. As of December 31, 2024, the total amount payable to Meridian Veterinary Capital LLC was $22,027.

The transaction was not conducted at arm's length, and no formal agreement exists governing the terms of repayment.

**5.** **INCOME TAXES** 

The provision for income for the following periods ended is as follows:

---

| | |
|:---|:---|
|  | **December 31,<br> 2024** |
| Net Operating Loss | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| Valuation Allowance | - |
| **Net Provision For Income Tax** | $**-** |

---

**MERIDIAN VETERINARY INVESTORS, INC.**

**Notes to Financial Statements**

**AS OF December 31, 2024, AND FOR THE PERIOD FROM November 14, 2024, THROUGH December 31, 2024**

Significant components of the Company's deferred tax assets and liabilities are as follows:

---

| | |
|:---|:---|
| **As of** | **December 31,<br> 2024** |
| Net Operating Loss | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| Valuation Allowance | - |
| **Total Deferred Tax Asset** | $- |

---

Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. On the basis of this evaluation, the Company has determined that it is more likely than not that the Company will not recognize the benefits of the federal and state net deferred tax assets, and, as a result, full valuation allowance has been set against its net deferred tax assets as of December 31, 2024. The amount of the deferred tax asset to be realized could be adjusted if estimates of future taxable income during the carry-forward period are reduced or increased.

For the fiscal period ending December 31, 2024, the Company had no federal cumulative net operating loss ("NOL") carryforwards. Utilization of some of the federal and state NOL carryforwards to reduce future income taxes will depend on the Company's ability to generate sufficient taxable income prior to the expiration of the carryforwards. The federal net operating loss carryforward is subject to an 80% limitation on taxable income, does not expire, and will carry on indefinitely.

The Company recognizes the impact of a tax position in the financial statements if that position is more likely than not to be sustained on a tax return upon examination by the relevant taxing authority, based on the technical merits of the position. As of December 31, 2024, the Company had no unrecognized tax benefits.

The Company recognizes interest and penalties related to income tax matters in income tax expense. As of December 31, 2024, the Company had no accrued interest and penalties related to uncertain tax positions.

**6.** **COMMITMENTS AND CONTINGENCIES** 

**<u>Contingencies</u>**

The Company's operations are subject to various local and state regulations. Failure to comply with one or more of those regulations could result in fines, restrictions on its operations, or loss of permits that could result in the Company ceasing operations.

**<u>Litigation and Claims</u>**

From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As of December 31, 2024, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of the Company's operations.

**7.** **GOING CONCERN** 

The Company has recently commenced operations and will incur significant additional costs to generate revenues sufficient to sustain operations. The Company might not have sufficient liquid assets to fulfil its obligations in the near future. These matters raise substantial doubt over the Company's ability to continue as a going concern. Over the next twelve months, the Company intends to fund its operations from the proposed Regulation Crowdfunding campaign, additional debt, and/or equity financing as deemed necessary. There are no assurances that management will be able to raise capital on terms acceptable to the Company. If the Company is unable to obtain sufficient amounts of additional capital, the Company may be required to reduce the scope of development, which may harm the operations, financial condition, and operating results. These financial statements do not include any adjustments resulting from these uncertainties.

**8.** **SUBSEQUENT EVENT** 

The Company evaluated subsequent events from the balance sheet date through the date these financial statements were issued, and no events were identified that require adjustment to or disclosure in the financial statements.

**MERIDIAN VETERINARY INVESTORS, INC.**

**Audited Financial Statements**

**AS OF May 31, 2025, AND FOR THE PERIOD FROM JANUARY 1, 2025 THROUGH MAY 31, 2025**

**Index to Financial Statements**

---

| | |
|:---|:---|
|  | **Page** |
| [INDEPENDENT AUDITORS' REPORT](#fin3_001) | F-26 |
| FINANCIAL STATEMENTS: |  |
| &nbsp;&nbsp;&nbsp;[Balance Sheet](#fin3_002) | F-28 |
| &nbsp;&nbsp;&nbsp;[Statement of Operations](#fin3_003) | F-29 |
| &nbsp;&nbsp;&nbsp;[Statement of Changes in Stockholders' Deficit](#fin3_004) | F-30 |
| &nbsp;&nbsp;&nbsp;[Statement of Cash Flows](#fin3_005) | F-31 |
| &nbsp;&nbsp;&nbsp;[Notes to Financial Statements](#fin3_006) | F-32 |

---

![](image_001.jpg)

**INDEPENDENT AUDITORS' REPORT**

To the Board of Directors

Meridian Veterinary Investors, Inc.

Wilmington, Delaware

**Opinion**

We have audited the financial statements of Meridian Veterinary Investors, Inc., which comprise the balance sheet as of May 31, 2025 and the related statements of operations, changes in stockholders' equity, and cash flows for the period from January 1, 2025 through May 31, 2025 and the related notes to the financial statements (collectively, the "financial statements").

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Meridian Veterinary Investors, Inc. as of May 31, 2025 and the results of its operations and its cash flows for the period from January 1, 2025 through May 31, 2025 in accordance with accounting principles generally accepted in the United States of America.

**Going Concern**

As discussed in Note 7, certain conditions indicate that the Company may be unable to continue as a going concern. The accompanying financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

**Basis for Opinion**

We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Meridian Veterinary Investors, Inc. and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

**Responsibilities of Management for the Financial Statements**

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America and for 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.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Meridian Veterinary Investors, Inc.'s ability to continue as a going concern for a period of twelve months from the date of issuance of these financial statements.

**Auditor's Responsibilities for the Audit of the Financial Statements**

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users made on the basis of these financial statements.

In performing an audit in accordance with GAAS, we:

● Exercise professional judgment and maintain professional skepticism throughout the audit.

● Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

● Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Meridian Veterinary Investors, Inc.'s internal control. Accordingly, no such opinion is expressed.

● Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

● Conclude whether, in our judgment, there are conditions or events considered in the aggregate that raise substantial doubt about Meridian Veterinary Investors, Inc.'s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.

![](image_002.jpg)

July 30, 2025

Los Angeles, California

**MERIDIAN VETERINARY INVESTORS, INC.**

**Balance Sheet**

---

| | |
|:---|:---|
| **As of** | **May 31,<br> 2025** |
| (USD $ in Dollars) |  |
| **ASSETS** |  |
| Current Assets: |  |
| &nbsp;&nbsp;&nbsp;Cash | $250 |
| &nbsp;&nbsp;&nbsp;Deferred Offering Cost | 128138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Current Assets** | **128388** |
| **Total Assets** | $**128388** |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |
| Current Liabilities: |  |
| &nbsp;&nbsp;&nbsp;Accounts Payable | $- |
| &nbsp;&nbsp;&nbsp;Due to Related party | 129520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Current Liabilities** | **129520** |
| **Total Liabilities** | **129520** |
| **STOCKHOLDERS' Deficit** |  |
| Common Stock ($0.0001 par value, 10,000,000 shares authorized as of May 31, 2025; 500 shares outstanding as of May 31, 2025 | 0 |
| Additional Paid in Capital | 500 |
| Subscription Receivable | (250) |
| Accumulated Deficit | (1382) |
| **Total Stockholders' Deficit** | **(1132)** |
| **Total Liabilities and Stockholders' Deficit** | $**128388** |

---

*See accompanying notes to financial statements.*

**MERIDIAN VETERINARY INVESTORS INC.**

**Statement of Operations**

 

---

| | |
|:---|:---|
|  | **For the<br> Period from<br> January 1,<br> 2025 through<br> May 31,<br> 2025** |
| (USD $ in Dollars) |  |
| &nbsp;&nbsp;&nbsp;Net Revenue | $- |
| &nbsp;&nbsp;&nbsp;Cost of Goods Sold | - |
| &nbsp;&nbsp;&nbsp;**Gross Profit/ (Loss)** | **-** |
| **Operating Expenses** |  |
| &nbsp;&nbsp;&nbsp;General and Administrative | 1382 |
| &nbsp;&nbsp;&nbsp;Selling and Marketing | - |
| &nbsp;&nbsp;&nbsp;**Total Operating Expenses** | **1382** |
| **Net Operating Loss** | **(1382)** |
| &nbsp;&nbsp;&nbsp;Interest Expense |  |
| &nbsp;&nbsp;&nbsp;Other Loss/(Income) | - |
| &nbsp;&nbsp;&nbsp;**Loss Before Provision for Income Taxes** | **(1382)** |
| &nbsp;&nbsp;&nbsp;Provision/(Benefit) for Income Taxes | - |
| **Net Loss** | $**(1382)** |

---

*See accompanying notes to financial statements.*

**MERIDIAN VETERINARY INVESTORS, INC.**

**Statement of Changes in Stockholders' Deficit**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Common Stock** | **Common Stock** | | | | |
| <br>**(USD)** | **Shares** | **Amount** | **Additional Paid In**<br>**Capital** | **Subscription**<br>**Receivable** | **Accumulated**<br>**Deficit** | **Total Stockholders'**<br>**Deficit** |
| **Balance—January 1, 2025** | **-** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $**-** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| Issuance of stock | 500 | 0 | 500 | (250) | **-** | 250 |
| Net Loss | - | - | - | - | (1382) | (1382) |
| **Balance—May 31, 2025** | **500** | **0** | $**500** | $**(250)** | $**(1382)** | $**(1132)** |

---

*See accompanying notes to financial statements.*

**MERIDIAN VETERINARY INVESTORS, INC.**

**Statement of cash flows**

---

| | |
|:---|:---|
|  | **For the<br> Period from**<br>**January 1,<br> 2025<br> through**<br>**May 31,<br> 2025** |
| (USD $ in Dollars) |  |
| **CASH FLOW FROM OPERATING ACTIVITIES** |  |
| &nbsp;&nbsp;&nbsp;Net Loss | $(1382) |
| &nbsp;&nbsp;&nbsp;***Adjustments to Reconcile Net loss to Net Cash Used in Operating Activities*** |  |
| &nbsp;&nbsp;&nbsp;**Changes in Operating Assets and Liabilities:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts Payable | (8783) |
| **Net Cash Used In Operating Activities** | **(10164)** |
| **CASH FLOW FROM INVESTING ACTIVITIES** |  |
| **Net Cash Used in Investing Activities** | **-** |
| **CASH FLOW FROM FINANCING ACTIVITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowing on Shareholder Loans | 107494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred Offering Cost | (97329) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceed from Issuance of stock | 250 |
| **Net Cash Provided by Financing Activities** | **10415** |
| **Change in Cash** | **250** |
| Cash —Beginning of The Period | - |
| **Cash —End of The Period** | $**250** |
| **SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION** |  |
| Cash Paid for Interest | $- |
| Cash paid for the tax | $- |

---

*See accompanying notes to financial statement*

**MERIDIAN VETERINARY INVESTORS, INC.**

**Notes to Financial Statements**

**AS OF May 31, 2025, AND FOR THE PERIOD FROM JANUARY 1, 2025, THROUGH MAY 31, 2025**

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

Meridian Veterinary Investors, Inc. was formed on November 14, 2024, as a Delaware Corporation. The financial statements of Meridian Veterinary Investors, Inc. (which may be referred to as the "Company", "we", "us", or "our") are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The Company's headquarters are located in Dallas, Texas.

The Company is a special purpose vehicle (SPV) formed to facilitate investors in fundraising. Subject to a successful crowdfunding round, the Company intends to use the proceeds to purchase securities of Meridian Veterinary Holdings, LLC. Meridian Veterinary Holdings, LLC plans to use those funds to pursue one or more potential acquisitions, including a specialty veterinary hospital located in Chicago, Illinois, on behalf of the investors.

&nbsp;&nbsp;&nbsp;&nbsp;**2.** **SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** 

The summary of significant accounting policies is presented to assist in understanding the Company's financial statements. The accounting policies conform to accounting principles generally accepted in the United States of America ("GAAP" and "US GAAP").

**<u>Basis of Presentation</u>**

The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America ("US GAAP"). The Company has adopted the calendar year as its basis of reporting.

**<u>Use of Estimates</u>**

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

**<u>Cash</u>**

Cash includes all cash in banks. The Company's cash in bank deposit accounts, at times, may exceed federally insured limits. As of May 31, 2025, the Company's cash did not exceed FDIC-insured limits.

**<u>Revenue Recognition</u>**

The Company has not recognized any revenue for the period from January 1, 2025, through May 31, 2025, and is considered pre-revenue. However, the Company has adopted ASC 606, Revenue from Contracts with Customers ("Topic 606"), and will apply the following revenue recognition policy when revenue-generating activities commence.

Under Topic 606, revenue is recognized in accordance with the following five steps:

-Identify the contract(s) with a customer.

-Identify the performance obligations in the contract.

-Determine the transaction price.

-Allocate the transaction price to the performance obligations.

-Recognize revenue when (or as) the Company satisfies a performance obligation by transferring control of the promised goods or services to the customer.

**MERIDIAN VETERINARY INVESTORS, INC.**

**Notes to Financial Statements**

**AS OF May 31, 2025, AND FOR THE PERIOD FROM JANUARY 1, 2025, THROUGH MAY 31, 2025**

**<u>Income Taxes</u>**

The Company is a C corporation for income tax purposes. The Company accounts for income taxes under the liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not that the deferred tax asset will not be realized. The Company records interest, net of any applicable related income tax benefit, on potential income tax contingencies as a component of income tax expense. The Company records tax positions taken or expected to be taken in a tax return based upon the amount that is more likely than not to be realized or paid, including in connection with the resolution of any related appeals or other legal processes. Accordingly, the Company recognizes liabilities for certain unrecognized tax benefits based on the amounts that are more likely than not to be settled with the relevant taxing authority. The Company recognizes interest and/or penalties related to unrecognized tax benefits as a component of income tax expense.

**<u>Concentration of Credit Risk</u>**

The Company maintains its cash with a major financial institution located in the United States of America which it believes to be creditworthy. Balances are insured by the Federal Deposit Insurance Corporation up to $250,000. At times, the Company may maintain balances in excess of the federally insured limits.

**<u>Fair Value of Financial Instruments</u>**

The carrying value of the Company's financial instruments included in current assets and current liabilities (such as cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximates fair value due to the short-term nature of such instruments.

The inputs used to measure fair value are based on a hierarchy that prioritizes observable and unobservable inputs used in valuation techniques. These levels, in order of highest to lowest priority, are described below:

***Level 1***—Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities.

***Level 2***—Observable prices that are based on inputs not quoted on active markets but corroborated by market data.

***Level 3***—Unobservable inputs reflecting the Company's assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

**<u>Related Party</u>**

The Company identifies related party transactions in accordance with ASC 850, Related Party Disclosures. Related parties include entities under common ownership or control, key management personnel, significant shareholders, and their immediate family members.

The Company evaluates all transactions with related parties to determine whether the terms are consistent with those that would be available in an arm's length transaction. All related party transactions are reviewed and approved by management or the board of directors (as applicable), and material balances or transactions are disclosed in the financial statements.

Related party balances are classified as current or noncurrent on the balance sheet based on the expected timing of settlement and are measured in accordance with the Company's accounting policies for similar non-related party transactions.

**MERIDIAN VETERINARY INVESTORS, INC.**

**Notes to Financial Statements**

**AS OF May 31, 2025, AND FOR THE PERIOD FROM JANUARY 1, 2025, THROUGH MAY 31, 2025**

**<u>Deferred Offering Cost</u>**

Equity issuance costs are costs directly attributable to the issuance of equity securities, including common stock and/or preferred stock. These costs generally include underwriting fees, legal fees, accounting fees, printing and filing fees, and other costs associated with the issuance of equity securities. Such costs are initially capitalized as deferred offering costs when incurred, and upon completion, these are charged against the proceeds of the offering.

**<u>Subsequent Events</u>**

The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated through July 30, 2025, which is the date the financial statements were issued.

**3.** **STOCKHOLDERS' EQUITY** 

The Company is authorized to issue 10,000,000 shares of Common Stock at a par value of $0.0001 per share. As of May 31, 2025, 500 shares of Common Stock have been issued and are outstanding.

**4.** **RELATED PARTY TRANSACTIONS** 

The Company received funding from Meridian Veterinary Capital LLC, an entity under common ownership and therefore considered a related party. These funds were provided to support the Company's Regulation A offering and were used primarily to cover legal and advisory fees related to the syndication process.

The related party payable is non-interest-bearing, unsecured, and has no stated repayment terms. However, management expects to settle the liability within the next twelve months and has therefore classified the balance as a current liability. As of May 31, 2025, the total amount payable to Meridian Veterinary Capital LLC was $129,520.

The transaction was not conducted at arm's length, and no formal agreement exists governing the terms of repayment.

**5.** **INCOME TAXES** 

The provision for income for the following periods ended is as follows:

---

| | |
|:---|:---|
|  | **For the<br> Period from January 1,<br> 2025<br> through<br> May 31, <br> 2025** |
| Net Operating Loss | $(290) |
| Valuation Allowance | 290 |
| **Net Provision For Income Tax** | $**-** |

---

**MERIDIAN VETERINARY INVESTORS, INC.**

**Notes to Financial Statements**

**AS OF May 31, 2025, AND FOR THE PERIOD FROM JANUARY 1, 2025, THROUGH MAY 31, 2025**

Significant components of the Company's deferred tax assets and liabilities are as follows:

---

| | |
|:---|:---|
| **As of** | **May 31,<br> 2025** |
| Net Operating Loss | $(290) |
| Valuation Allowance | 290 |
| **Total Deferred Tax Asset** | $**-** |

---

Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. On the basis of this evaluation, the Company has determined that it is more likely than not that the Company will not recognize the benefits of the federal and state net deferred tax assets, and, as a result, full valuation allowance has been set against its net deferred tax assets as of May 31, 2025. The amount of the deferred tax asset to be realized could be adjusted if estimates of future taxable income during the carry-forward period are reduced or increased.

For the fiscal period ending May 31, 2025, the Company had federal cumulative net operating loss ("NOL") carryforwards of $1,382. Utilization of some of the federal and state NOL carryforwards to reduce future income taxes will depend on the Company's ability to generate sufficient taxable income prior to the expiration of the carryforwards. The federal net operating loss carryforward is subject to an 80% limitation on taxable income, does not expire, and will carry on indefinitely.

The Company recognizes the impact of a tax position in the financial statements if that position is more likely than not to be sustained on a tax return upon examination by the relevant taxing authority, based on the technical merits of the position. As of May 31, 2025, the Company had no unrecognized tax benefits.

The Company recognizes interest and penalties related to income tax matters in income tax expense. As of May 31, 2025, the Company had no accrued interest and penalties related to uncertain tax positions.

**6.** **COMMITMENTS AND CONTINGENCIES** 

**<u>Contingencies</u>**

The Company's operations are subject to various local and state regulations. Failure to comply with one or more of those regulations could result in fines, restrictions on its operations, or loss of permits that could result in the Company ceasing operations.

**<u>Litigation and Claims</u>**

From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As of May 31, 2025, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of the Company's operations.

**7.** **GOING CONCERN** 

The Company has recently commenced operations and will incur significant additional costs to generate revenues sufficient to sustain operations. The Company might not have sufficient liquid assets to fulfil its obligations in the near future. These matters raise substantial doubt over the Company's ability to continue as a going concern. Over the next twelve months, the Company intends to fund its operations from the proposed Regulation Crowdfunding campaign, additional debt, and/or equity financing as deemed necessary. There are no assurances that management will be able to raise capital on terms acceptable to the Company. If the Company is unable to obtain sufficient amounts of additional capital, the Company may be required to reduce the scope of development, which may harm the operations, financial condition, and operating results. These financial statements do not include any adjustments resulting from these uncertainties.

**8.** **SUBSEQUENT EVENT** 

The Company evaluated subsequent events from the balance sheet date through the date these financial statements were issued, and no events were identified that require adjustment to or disclosure in the financial statements.

**EXHIBITS**

The following exhibits are filed with this Offering Circular:

---

| | |
|:---|:---|
| **Exhibit** | **Description** |
| 4.1 | [Form of Subscription Agreement](ea026736901ex4-1_meridian.htm) |
| 7.1 | [Loaned Employee Agreement](ea026736901ex7-1_meridian.htm) |
| 8.1 | [Meridian MV Chicago, LLC Audited Financials](ea026736901ex8-1_meridian.htm) |
| 9.1 | [Letter of Intent to Purchase the Property](ea026736901ex9-1_meridian.htm) |

---

**SIGNATURES**

Pursuant to the requirements of Regulation A, the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form 1-A and has duly caused this offering statement to be signed on its behalf by the undersigned, thereunto duly authorized, on December 2, 2025.

---

| | | |
|:---|:---|:---|
|  | **Meridian Veterinary Investors, Inc.** | **Meridian Veterinary Investors, Inc.** |
| December 2, 2025 | By: | */s/ David K. Ronck* |
|  | Name: | David K. Ronck |
|  | Title: | Chief Financial Officer, Secretary and Treasurer |

---

Pursuant to the requirements of the Securities Act of 1933, this Offering Circular has been signed by the following persons in the capacities and on the date indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| */s/ Curtis R. Boisfontaine, Jr.* | President, Director | December 2, 2025 |
| */s/ David K. Ronck* | Director | December 2, 2025 |

---

## Ex1A-4

**Exhibit 4.1**

THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES OR BLUE SKY LAWS AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE ACT AND STATE SECURITIES OR BLUE SKY LAWS. THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION ("SEC"), ANY STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON THE MERITS OF THIS OFFERING OR THE ADEQUACY OR ACCURACY OF THE SUBSCRIPTION AGREEMENT OR ANY OTHER MATERIALS OR INFORMATION MADE AVAILABLE TO INVESTOR IN CONNECTION WITH THIS OFFERING. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

THIS INVESTMENT INVOLVES A HIGH DEGREE OF RISK. THIS INVESTMENT IS SUITABLE ONLY FOR PERSONS WHO CAN BEAR THE ECONOMIC RISK FOR AN INDEFINITE PERIOD OF TIME AND WHO CAN AFFORD TO LOSE THEIR ENTIRE INVESTMENT. FURTHERMORE, INVESTORS MUST UNDERSTAND THAT SUCH INVESTMENT IS ILLIQUID AND IS EXPECTED TO CONTINUE TO BE ILLIQUID FOR AN INDEFINITE PERIOD OF TIME. NO PUBLIC MARKET EXISTS FOR THE SECURITIES, AND NO PUBLIC MARKET IS EXPECTED TO DEVELOP FOLLOWING THIS OFFERING.

THE COMPANY MAY NOT BE OFFERING THE SECURITIES IN EVERY STATE. THE OFFERING MATERIALS DO NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY STATE OR JURISDICTION IN WHICH THE SECURITIES ARE NOT BEING OFFERED.

THE INFORMATION PRESENTED IN THE OFFERING MATERIALS WAS PREPARED BY THE COMPANY SOLELY FOR THE USE BY PROSPECTIVE INVESTORS IN CONNECTION WITH THIS OFFERING. NO REPRESENTATIONS OR WARRANTIES ARE MADE AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED IN ANY OFFERING MATERIALS, AND NOTHING CONTAINED IN THE OFFERING MATERIALS IS OR SHOULD BE RELIED UPON AS A PROMISE OR REPRESENTATION AS TO THE FUTURE PERFORMANCE OF THE COMPANY. NEITHER THE DELIVERY NOR THE PURCHASE OF THE SECURITIES SHALL, UNDER ANY CIRCUMSTANCES, CREATE ANY IMPLICATION THAT THERE HAS BEEN NO CHANGE IN THE AFFAIRS OF THE COMPANY SINCE THE DATE OF THE OFFERING MATERIALS.

**SUBSCRIPTION AGREEMENT**

To: Meridian Veterinary Investors, Inc. <br> 3811 Turtle Creek Boulevard, Suite 875 <br> Dallas, Texas 75219

Ladies and Gentlemen:

The undersigned ("**Investor**") hereby subscribes for the dollar amount ("**Subscription Amount**") of Shares (defined below) of Meridian Veterinary Investors, Inc., a Delaware corporation (the "**Company**") as indicated on the signature page hereto.

WHEREAS, the Company is offering up to 7,500,000 shares of its common stock (the "**Shares**") for proceeds up to $75,000,000 , pursuant to its Form 1-A, as amended and/or supplemented from time to time ("**Offering Statement**"), filed with the Securities and Exchange Commission ("**SEC**") under Tier II of Regulation A promulgated under the Securities Act of 1933, as amended (the "**Securities Act**").

NOW, THEREFORE, it is agreed as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Shares will be held by the Investor as indicated on the signature page and Subscriber Information Page hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. To induce the Company to accept this subscription, the Investor hereby agrees and represents that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Concurrent with the execution hereof, the Investor authorizes the Company to request the Subscription Amount from the Investor's bank or other financial institution. The Investor has transferred funds equal to the Subscription Amount to the Company concurrently with submitting this Subscription Agreement, unless otherwise agreed by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Within five (5) days after receipt of a written request from the Company, the Investor shall provide such information and execute and deliver such documents as the Company may reasonably request to comply with any and all laws and ordinances to which the Company may be subject, including the securities laws of the United States or any other applicable jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company has entered into, and from time to time may enter into, separate subscription agreements with other investors for the sale of Shares to such other investors. The sale of Shares to such other investors and this sale of the Shares shall be separate sales and this Subscription Agreement and the other subscription agreements shall be separate agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company may elect at any time to close all or any portion of this offering on various dates (each a "Closing Date").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Investor understands the meaning and legal consequences of, and that the Company intends to rely upon, the representations and warranties contained in Sections 2, 3, 4 and 5 hereof, and the Investor hereby agrees to indemnify and hold harmless the Company and each and any manager, member, officer, employee, agent or affiliate thereof from and against any and all loss, damage or liability due to or arising out of a breach of any representation or warranty of the Investor. The representations, warranties and covenants made by Investor herein shall survive the closing or termination of this Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Investor hereby represents and warrants that the Investor is a "qualified purchaser," as defined in Regulation A under the Securities Act, meaning Investor is an "accredited investor" as defined in Rule 501 of Regulation D under the Securities Act and indicated on the U.S. Accredited Investor Certificate attached hereto, or the Subscription Amount does not represent more than 10% of the greater of Investor's annual income or net worth (for natural persons), or ten percent (10%) of the greater of annual revenue or net worth at fiscal year-end (for non-natural persons), with net worth calculated in the same manner as for accredited investors under Rule 501 of Regulation D under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The Investor hereby further represents, warrants, acknowledges and agrees, which representations and warranties will be true and correct as of Investor's Closing Date, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The information provided by the Investor to the Company via this Subscription Agreement or otherwise is true and correct in all respects as of the date hereof and the Investor hereby agrees to promptly notify the Company and supply corrective information to the Company if, prior to the consummation of its investment in the Company, any of such information becomes inaccurate or incomplete.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Investor, if an individual, is over 18 years of age (or older if required by Investor's state in order to purchase securities), and the address set forth above is the true residence and domicile of the Investor, and the Investor has no present intention of becoming a resident or domiciliary of any other state or jurisdiction. If a corporation, trust, partnership or other entity, the Investor has its principal place of business at the address set forth on the signature page.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If Investor is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended), Investor hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any invitation to subscribe for the Shares or any use of this Subscription Agreement, including (i) the legal requirements within its jurisdiction for the purchase of the Shares, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale, or transfer of the Shares. Investor's subscription and payment for and continued beneficial ownership of the Shares will not violate any applicable securities or other laws of Investor's jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Investor has had an opportunity to ask questions of and receive answers from the Company, or a person or persons acting on its behalf, concerning the Company and the terms and conditions of this investment, and all such questions have been answered to the full satisfaction of the Investor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Except as set forth in this Subscription Agreement, no representations or warranties have been made to the Investor by the Company or any partner, agent, employee or affiliate thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Investor has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of an investment in the Company and making an informed investment decision with respect thereto. The Investor has consulted its own advisers with respect to its proposed investment in the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The Investor is not making this subscription in any manner as a representative of a charitable remainder unitrust or a charitable remainder trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Investor has the financial ability to bear the economic risk of the Investor's investment, including a complete loss thereof, has adequate means for providing for its current needs and possible contingencies and has no need for liquidity in its investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Investor acknowledges and understands that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The
 Shares are a speculative investment and involve a substantial degree of risk;

(ii) The
 Company does not have a significant financial or operating history;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The
 Shares are being offered pursuant to Regulation A under the Securities Act and have not been registered or qualified under any state
 blue sky or securities law; and

(iv) Any
 federal income tax treatment which may be currently available to the Investor may be lost through adoption of new laws or regulations,
 amendments to existing laws or regulations or changes in the interpretations of existing laws and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The Investor has carefully reviewed and understands the Company's Offering Statement, as amended or supplemented, and exhibits included therewith, including the "Risk Factors" contained in the Offering Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) The Investor represents and warrants that (i) the Shares are to be purchased with funds that are from legitimate sources in connection with its regular business activities and which do not constitute the proceeds of criminal conduct; (ii) the Shares are not being acquired, and will not be held, in violation of any applicable laws; (iii) the Investor is not listed on the list of Specially Designated Nationals and Blocked Persons maintained by the United States Office of Foreign Assets Control ("OFAC"); and (iv) the Investor is not a senior foreign political figure, or any immediate family member or close associate of a senior foreign political figure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) If the Investor is an individual retirement account, qualified pension, profit sharing or other retirement plan, or governmental plans or units (all such entities are herein referred to as a "Retirement Trust"), the Investor represents that the investment in the Company by the Retirement Trust has been authorized by the appropriate person or persons and that the Retirement Trust has consulted its counsel with respect to such investment and the Investor represents that it has not relied on any advice of the Company or its affiliates in making its decision to invest in the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Neither the execution and delivery of this Agreement nor the fulfillment of or compliance with the terms and provisions hereof, will conflict with, or result in a breach or violation of any of the terms, conditions or provisions of, or constitute a default under, any contract, agreement, mortgage, indenture, lease, instrument, order, judgment, statute, law, rule or regulation to which Investor is subject.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Investor has carefully reviewed all of the Company's SEC filings filed by the Company since the Company's Offering Statement was qualified by the SEC and understands the information contained therein. Investor acknowledges that the Company's SEC filings, including but not limited to the Offering Statement, are available free of charge at the SEC's web site at <u>www.sec.gov</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Investor has all requisite power and authority to (i) execute and deliver this Agreement, and (ii) to carry out and perform its obligations under the terms of this Agreement. This Agreement has been duly authorized, executed and delivered and constitutes the legal, valid and binding obligation of Investor, enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or other laws relating to or affecting the enforcement of creditors' rights generally in effect from time to time and by general principles of equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Investor acknowledges and agrees that there is no ready public market for the Shares and that there is no guarantee that a market for their resale will ever exist. The Company has no obligation to list any of the Shares on any market or take any steps (including registration under the Securities Act or the Securities Exchange Act of 1934, as amended (the "Exchange Act") with respect to facilitating trading or resale of the Shares. Investor must bear the economic risk of this investment indefinitely and Investor acknowledges that Investor is able to bear the economic risk of losing Investor's entire investment in the Shares. Investor also understands that an investment in the Company involves significant risks and has taken full cognizance of and understands all of the risk factors relating to the purchase of Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Investor has accurately answered all questions on and completed the signature page hereto and each other schedule and exhibit attached hereto, which are made a part hereof by reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) It is understood that this subscription is irrevocable by Investor but is not binding on the Company until accepted by the Company by signature of its authorized representative on the acceptance page hereto. The Company may accept or reject this subscription in whole or in part. In the event of rejection of this subscription in its entirety, or in the event the sale of the Shares (or any portion thereof) to Investor is not consummated for any reason, this Subscription Agreement shall have no force or effect with respect to the rejected subscription (or portion thereof), except for Section 2(d) hereof, which shall remain in force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) The Company reserves the right to request such information as is necessary to verify the identity of the Investor. The Investor shall promptly on demand provide such information and execute and deliver such documents as the Company may request to verify the accuracy of the Investor's representations and warranties herein or to comply with the USA PATRIOT Act of 2001, as amended (the "Patriot Act"), certain anti-money laundering laws or any other law or regulation to which the Company may be subject (the "Relevant Legislation"). In addition, by executing this Subscription Agreement the Investor authorizes the Company to provide the Company's legal counsel and any other appropriate third party with information regarding the Investor's account, until the authorization is revoked by the Investor in writing to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The Company represents and warrants to the Investor that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company is duly formed and validly existing in good standing as a corporation under the laws of the State of Delaware and has all requisite power and authority to carry on its business as now conducted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The execution, delivery and performance by the Company of this Subscription Agreement have been authorized by all necessary action on behalf of the Company, and this Subscription Agreement is a legal, valid and binding agreement of the Company, enforceable against the Company in accordance with its terms. The Shares, when so issued, sold and delivered against payment therefor in accordance with the provisions of this Subscription Agreement, will be duly and validly issued, fully paid and non-assessable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Notwithstanding anything contained in this Subscription Agreement, Investor is not being asked to waive, and is not waiving any right to bring a claim against the Company under the Securities Act, Securities Exchange Act of 1934 or similar state law; however, the Company may rely on the representations contained in this Subscription Agreement in defense of such claims, if applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. By executing this Subscription Agreement, Investor's execution of this Agreement will also serve as Investor's approval of the Company's Bylaws and Certificate of Incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Miscellaneous.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural, as the identity of the person or persons or entity or entities may require.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Subscription Agreement is not transferable or assignable by Investor without the prior written consent of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The representations, warranties and agreements contained herein shall be deemed to be made by and be binding upon Investor and its heirs, executors, administrators and successors and shall inure to the benefit of the Company and its successors and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) None of the provisions of this Subscription Agreement may be waived, changed or terminated orally or otherwise, except as specifically set forth herein or except by a writing signed by the Company and Investor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The invalidity, illegality or unenforceability of one or more of the provisions of this Subscription Agreement in any jurisdiction shall not affect the validity, legality or enforceability of the remainder of this Subscription Agreement in such jurisdiction or the validity, legality or enforceability of this Subscription Agreement, including any such provision, in any other jurisdiction, it being intended that all rights and obligations of the parties hereunder shall be enforceable to the fullest extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) This Subscription Agreement constitutes the entire agreement between the Investor and the Company with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings, if any, relating to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The terms and provisions of this Subscription Agreement are intended solely for the benefit of each party hereto and their respective successors and assigns, and it is not the intention of the parties to confer, and no provision hereof shall confer, third-party beneficiary rights upon any other person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) This Subscription Agreement may be executed in any number of counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) No failure or delay by any party in exercising any right, power or privilege under this Subscription Agreement shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Notice, requests, demands and other communications relating to this Subscription Agreement and the transactions contemplated herein shall be in writing and shall be deemed to have been duly given if and when (a) delivered personally, on the date of such delivery; or (b) mailed by registered or certified mail, postage prepaid, return receipt requested, on the third day after the posting thereof; or (c) emailed, telecopied or cabled, on the date of such delivery to the respective parties at the addresses set forth on the signature page hereto with respect to the Investor and above with respect to the Company. The Company will not accept notice by email or other electronic communication.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) THE COMPANY WILL NOT BE LIABLE TO INVESTOR FOR ANY LOST PROFITS OR SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, EVEN IF INVESTOR TELLS THE COMPANY IT MIGHT INCUR THOSE DAMAGES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Investor agrees that the Company may deliver all notices, tax reports and other documents and information to Investor by email or another electronic delivery method chosen by the Company. Investor agrees to tell the Company right away if Investor changes its email address or home mailing address so the Company can send information to the new address.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Each of the parties hereto agrees that the transaction consisting of this Agreement (and, to the extent permitted under applicable law, each related agreement) may be conducted by electronic means. Each party agrees, and acknowledges that it is such party's intent, that if such party signs this Agreement (or, if applicable, related agreement) using an electronic signature, it is signing, adopting, and accepting this Agreement or such closing document and that signing this Agreement or such related agreement using an electronic signature is the legal equivalent of having placed its handwritten signature on this Agreement or such related agreement on paper. The use of electronic signatures and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce Act and any other applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) The interpretation, performance and enforcement of this Agreement shall be governed by the laws of the State of Delaware as applied to contracts executed in and performed wholly within the State of Delaware, without reference to principles of conflict of laws.

[**SIGNATURE PAGE FOLLOWS**]

**MERIDIAN VETERINARY INVESTORS, INC.**

**SUBSCRIPTION AGREEMENT SIGNATURE PAGE**

The undersigned, desiring to purchase Shares of common stock of Meridian Veterinary Investors, Inc. by executing this signature page, hereby executes, adopts and agrees to all terms, conditions and representations of the Subscription Agreement.

(a) EITHER (i) The undersigned is an accredited investor (as that term is defined in Regulation D under the Securities Act because the undersigned meets the criteria set forth in the following paragraph(s) of Appendix A attached hereto: ☐

OR (ii) The amount set forth in paragraph (b) above (together with any previous investments in the Securities pursuant to this offering) does not exceed 10% of the greater of the undersigned's net worth or annual income for all investments in this offering. ☐

(b) The Securities being subscribed for will be owned by, and should be recorded on the Company's books as follows:

---

| | | |
|:---|:---|:---|
| Full legal name of Subscriber (including middle name(s), for individuals): | Number of securities: **Shares** |  |
|  | Aggregate Subscription Price: **$___ USD** |  |
|  | **<u>TYPE OF OWNERSHIP:</u>** |  |
| (Name of Subscriber) | If the Subscriber is individual: | If the Subscriber is not an individual: |
| By: |  |  |
| (Authorized Signature) | ☐ Individual |  |
|  | ☐ Joint Tenant |  |
| (Official Capacity or Title, if the Subscriber is not an individual) |  |  |
|  | ☐ Tenants in Common |  |
|  | ☐ Community Property |  |
| (Name of individual whose signature appears above if different than the name of the Subscriber printed above.) | If interests are to be jointly held: |  |
|  | Name of the Joint Subscriber: |  |
| (Subscriber's Residential Address, including Province/State and Postal/Zip Code) | Social Security Number of the Joint Subscriber: |  |
| Taxpayer Identification Number (Telephone Number) | Check this box if the securities will be held in a custodial account: ☐ |  |
|  | Type of account: |  |
|  | EIN of account: |  |
| **<u>(Offline Investor)</u>** | Address of account provider: |  |
| (E-Mail Address) |  |  |

---

**ACCEPTANCE**

The Company hereby accepts the subscription as set forth above on the terms and conditions contained in this Subscription Agreement.

---

| | | |
|:---|:---|:---|
| Dated as of: |  |  |
|  | By: | **Meridian Veterinary Investors, Inc.** |
|  |  | _____________________ |
|  |  | Its: |

---

U.S. ACCREDITED INVESTOR CERTIFICATE

The Investor hereby represents and warrants that that the Investor is an Accredited Investor, as defined by Rule 501 of Regulation D under the Securities Act of 1933, and Investor meets at least one (1) of the following criteria (initial all that apply) or that Investor is an unaccredited investor and meets none of the following criteria (initial as applicable):

☐ The Investor is a natural person (individual) whose own net worth, taken together with the net worth of the Investor's spouse or spousal equivalent, exceeds US$1,000,000, excluding equity in the Investor's principal residence unless the net effect of his or her mortgage results in negative equity, the Investor should include any negative effects in calculating his or her net worth.

☐ The Investor is a natural person (individual) who had an individual income in excess of US$200,000 (or joint income with the Investor spouse or spousal equivalent in excess of US$300,000) in each of the two previous years and who reasonably expects a gross income of the same this year.

☐ The Investor is an entity as to which all the equity owners are Accredited Investors. If this paragraph is initialed, the Investor represents and warrants that the Investor has verified all such equity owners' status as an Accredited Investor.

☐ The Investor is either (i) a corporation, (ii) an organization described in Section 501(c)(3) of the Internal Revenue Code, (iii) a trust, or (iv) a partnership, in each case not formed for the specific purpose of acquiring the securities offered, and in each case with total assets in excess of US$5,000,000.

☐ The Investor is not an Accredited Investor and does not meet any of the above criteria.

---

| | |
|:---|:---|
| DATED: |  |
| INVESTOR: | (Print Full Name of Entity or Individual) |
|  | By: |
|  | (Signature) |
|  | Name: |
|  | (If signing on behalf of entity) |
|  | Title: |
|  | (If signing on behalf of entity) |

---

**AML Certificate**

By executing this document, the client certifies the following:

**If an Entity:**

1. I am the of the Entity, and as such have knowledge of the matters certified to herein;

2. the Entity has not taken any steps to terminate its existence, to amalgamate, to continue into any other jurisdiction or to change its existence in any way and no proceedings have been commenced or threatened, or actions taken, or resolutions passed that could result in the Entity ceasing to exist;

3. the Entity is not insolvent and no acts or proceedings have been taken by or against the Entity or are pending in connection with the Entity, and the Entity is not in the course of, and has not received any notice or other communications, in each case, in respect of, any amalgamation, dissolution, liquidation, insolvency, bankruptcy or reorganization involving the Entity, or for the appointment of a receiver, administrator, administrative receiver, trustee or similar officer with respect to all or any of its assets or revenues or of any proceedings to cancel its certificate of incorporation or similar constating document or to otherwise terminate its existence or of any situation which, unless remedied, would result in such cancellation or termination;

4. the Entity has not failed to file such returns, pay such taxes, or take such steps as may constitute grounds for the cancellation or forfeiture of its certificate of incorporation or similar constating document;

5. **if required, the documents uploaded to the DealMaker portal** are true certified copies of the deed of trust, articles of incorporation or organization, bylaws and other constating documents of the Entity including copies of corporate resolutions or by-laws relating to the power to bind the Entity;

6. The Client is the following type of Entity:

7. The names and personal addresses as applicable for the entity in **Appendix 1** are accurate.

**All subscribers:**

Dealmaker Account number: (Offline Investor)

If I elect to submit my investment funds by an electronic payment option offered by DealMaker, I hereby agree to be bound by DealMaker's Electronic Payment Terms and Conditions (the "Electronic Payment Terms"). I acknowledge that the Electronic Payment Terms are subject to change from time to time without notice.

Notwithstanding anything to the contrary, an electronic payment made hereunder will constitute unconditional acceptance of the Electronic Payment Terms, and by use of the credit card or ACH/EFT payment option hereunder, I: (1) authorize the automatic processing of a charge to my credit card account or debit my bank account for any and all balances due and payable under this agreement; (2) acknowledge that there may be fees payable for processing my payment; (3) acknowledge and agree that I will not initiate a chargeback or reversal of funds on account of any issues that arise pursuant to this investment and I may be liable for any and all damages that could ensue as a result of any such chargebacks or reversals initiated by myself.

---

| | |
|:---|:---|
| DATED: |  |
| INVESTOR: | (Print Full Name of Investor) |
|  | By: |
|  | (Signature) |
|  | Name of Signing Officer (if Entity): |
|  | Title of Signing Officer (if Entity): |

---

**Appendix 1 - Subscriber Information**

**<u>For the Subscriber</u>**

**<u>and Joint Holder (if applicable)</u>**

---

| | | | |
|:---|:---|:---|:---|
| Name | Address | Date of Birth (if an Individual) | Taxpayer Identification Number |

---

**<u>For a Corporation or entity other than a Trust</u> (Insert names and addresses below or attach a list)**

&nbsp;&nbsp;&nbsp;&nbsp;1. One
Current control person of the Organization:

---

| | | | |
|:---|:---|:---|:---|
| Name | Address | Date of Birth | Taxpayer Identification Number |

---

&nbsp;&nbsp;&nbsp;&nbsp;2. Unless
the entity is an Estate or Sole Proprietorship, list the Beneficial owners of, or those exercising direct or indirect control or direction
over, more than 25% of the voting rights attached to the outstanding voting securities or the Organization:

---

| | | | |
|:---|:---|:---|:---|
| Name | Address | Date of Birth | Taxpayer Identification Number |

---

**<u>For a Trust</u> (Insert names and addresses or attach a list)**

&nbsp;&nbsp;&nbsp;&nbsp;1. Current
trustees of the Organization:

---

| | | | |
|:---|:---|:---|:---|
| Name | Address | Date of Birth | Taxpayer Identification Number |

---

## Ex1A-7

**Exhibit 7.1**

**LOANED EMPLOYEE AGREEMENT**

This LOANED EMPLOYEE AGREEMENT ("Agreement") is made and entered into as of ______________, 2025 (the "Effective Date"), by and between Meridian Realty Advisors, L.P. (the "Loaning Company") and Meridian Veterinary Investors, Inc. ("MVI") (together, the "Parties" and each individually a "Party"). In consideration of the mutual covenants and conditions in this Agreement, and for other good and valuable consideration, MVI and Loaning Company hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. Special Employment.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Scope of Work.</u> Loaning Company agrees to provide and loan the services of the Employees to MVI to perform, for and on behalf of MVI, the services, functions, projects and activities described in **Exhibit A**, attached hereto and incorporated into this Agreement (the "Work"). The specific Employees to be provided to MVI may change from time-to-time, and any change in Employees shall be confirmed by the Parties in writing. When the Employees are performing the Work for MVI, the Employees shall be under the supervision and direction of MVI and its management or supervisory personnel. MVI shall determine the precise tasks, services, assignments and means of the Work that the Employees will perform pursuant to this Agreement. The Employees shall perform the Work in compliance with all applicable laws, rules and regulations as well as all policies and procedures of MVI and Loaning Company. MVI may cancel any assignment and cease use of any Employee at any time at MVI's discretion. Loaning Company shall use commercially reasonable efforts to replace Employees at MVI's request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Work Schedule.</u> The Parties agree that the Employees shall perform the Work for MVI pursuant to a schedule agreed to by the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Responsibilities of MVI.</u> MVI shall be solely responsible for providing the Employees with materials, supplies, tools and equipment necessary or appropriate for the Employees to perform the Work. The Parties understand and agree that all correspondence, documents, email, communications, products or other materials, whether in electronic or hard copy format, shall be the exclusive property of MVI and shall be subject to MVI's document retention, management and other applicable policies and procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. Compensation, Benefits, and Other Employment-Related Responsibilities.** At all times relevant to this Agreement, the Employees shall remain regular full-time employees of Loaning Company and shall be deemed "loaned employees" or "borrowed servants" within the meaning of applicable law. The Employees shall remain on Loaning Company's payroll, shall remain subject to Loaning Company's personnel policies, rules, regulations, and procedures. Loaning Company shall remain responsible for keeping and maintaining the personnel files and payroll and other employment records of the Employees. The Parties further agree to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Compensation; Tax Obligations.</u> Loaning Company shall be the employer of record of the Employees and shall be responsible for the payment of all salary, wages or other forms of compensation to the Employees, including any compensation for performing the Work. Loaning Company shall comply with all rules and regulations governing reporting, payment and withholding of applicable federal, state and local taxes for salary, wages or other compensation paid to Employee, including but not limited to: (i) federal income tax withholding; (ii) state and local income tax withholding; (iii) social security, FICA and Medicare tax withholding, as well as the employer component of FICA and Medicare tax; (iv) Federal Unemployment Tax Act (FUTA) obligations; and (v) applicable state unemployment tax obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Insurance and Fringe Benefits.</u> Loaning Company shall be responsible for providing each Employee with the opportunity to participate in the same health insurance, retirement programs, vacation and other leave benefits, disability insurance and other fringe benefit programs that Loaning Company provides to other employees of Loaning Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Workers' Compensation.</u> Loaning Company agrees that it shall be solely responsible for, and shall procure and maintain, at its sole cost and expense, workers' compensation insurance or self-insurance for the Employees in accordance with the requirements of applicable state law. The Parties agree that MVI shall not be responsible for procuring or maintaining any workers' compensation insurance or self-insurance for the Employees for the Work performed under this Agreement. Loaning Company acknowledges and agrees that, as the Employees' employer for insurance purposes, Loaning Company and its workers' compensation insurance provider shall be solely responsible for administrating any claims made by or filed with respect to the Employees, and Loaning Company shall be liable for the entire cost of workers' compensation benefits that may be awarded and payable to the Employees on account of any illness or injury suffered by the Employees in the course of and arising out of the Employees' performance of the Work under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>MVI's Financial Responsibility.</u> MVI's sole financial responsibility with respect to the Employees shall be to make the payments to Loaning Company described in Section 3 below. The Parties understand and agree that MVI shall not be treated or recognized as the employer of any Employee for purposes of wage & hour, tax, fringe benefits, or insurance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. Payments.** In conisdeation of other benefits derived by Loaning Company, MVI shall bear no costs of the Employees' services for the Work provided to MVI by Loaning Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. Term of Agreement; Termination.** This Agreement shall commence on the Effective Date written above and shall continue in effect for a period of one (1) year until the first anniversary of the Effective Date (the "Term"), unless terminated earlier by either Party in accordance with this Section 4. Upon expiration of the Term, this Agreement shall automatically renew for additional consecutive one (1) year terms unless either party notifies the other party, in writing, of its intention not to renew at least thirty (30) days prior to the expiration of the then current term. During the Term of this Agreement (including any renewal term), either party may terminate this Agreement, with or without cause, at any time upon thirty (30) days' prior written notice given to the other party. In the event of any early termination or non-renewal of this Agreement, (a) the parties shall work together to conclude the services of Employees in a manner that causes the least disruption to MVI's customers, and (b) Loaning Company shall be compensated for all Total Monthly Compensation Costs for services provided to MVI by the Employees for the Work through the termination date or the expiration date of the current term, whichever occurs first.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. Insurance; Indemnification.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Loaning Company Indemnification Duties.</u> During the Term of this Agreement (including any renewal term), Loaning Company agrees that it shall indemnify, protect, defend and hold harmless MVI, and its agents, directors, managers, partners, employees, successors and assigns (the "MVI Indemnified Parties") from and against any and all claims, liabilities, costs, penalties and expenses, including, without limitation, attorneys' fees and costs, incurred in connection with any workers' compensation claim, investigation or proceeding asserted against any MVI Indemnified Party arising out of or in any way related to any illness or injury suffered by any Employee in the course of and arising out of such Employee's performance of the Work under this Agreement. Loaning Company further agrees that it shall indemnify, defend, protect and hold harmless the MVI Indemnified Parties, from and against any and all losses, claims, liabilities, damages, costs, demands, penalties and expenses, including, without limitation, attorneys' fees and costs, of every nature arising out of any breach of Loaning Company's obligations under this Agreement, except where such breach is caused solely by the negligence, recklessness or willful misconduct of MVI or as otherwise provided or limited by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>MVI Indemnification Duties.</u> During the Term of this Agreement (including any renewal term), MVI agrees that it shall indemnify, defend, protect and hold harmless Loaning Company and its agents, directors, managers, partners, employees, successors and assigns (the "Loaning Company Indemnified Parties") from and against any and all losses, claims, liabilities, damages, costs, demands, penalties and expenses, including, without limitation, attorneys' fees and costs, of every nature arising out of (i) any breach of MVI's obligations under this Agreement or (ii) any act or omission of any Employee in performing the Work for MVI under this Agreement, except (1) where caused by the sole negligence, recklessness or willful misconduct of Loaning Company, (2) as otherwise provided by Section 5(a) above, or (3) as otherwise provided or limited by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Survival of Duties.</u> The Parties understand and agree that their obligations and duties under this Section 5 shall survive the termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. Ownership of Work Product.** The Parties agree that all inventions, developments or improvements made by the Employees in the scope of the Employees' performance of the Work for MVI, either alone or in conjunction with others, at any time or at any place during the term of the Employees' performance of the Work, whether or not reduced to writing or practice during such term, which relate to the business in which MVI is engaged or in which MVI intends to engage shall be subject to the policies and procedures of both MVI and Loaning Company with respect to intellectual property and to any existing agreement between the Employees and Loaning Company. The Parties further agree that all copyrightable work made by the Employees, in the scope of such Employees' performance of the Work for MVI, is intended to be "work made for hire" as that term is defined in Section 101 of the Copyright Act of 1976, as amended and shall be the property of MVI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. Notices.** Any notices required or permitted by this Agreement shall be in writing and shall be deemed given at the time it is hand-delivered or upon actual receipt via email or certified U.S. Mail, return receipt requested, and addressed to the party to whom it is directed as set forth below. Either Loaning Company or MVI may change its above contact information by written notice to the other in compliance with the notice requirements of this Section 7.

---

| | |
|:---|:---|
| If to Loaning Company: | If to MVI: |
| Meridian Realty Advisors, LP | Meridian Veterinary Investors, Inc. |
| Attn: David K. Ronck | Attn: Curt Boisfontaine |
| 3811 Turtle Creek Blvd., Ste 875 | 3811 Turtle Creek Blvd., Ste 875 |
| Dallas, Texas 75219 | Dallas, Texas 75219 |
| (214) 533-7007 | (214) 543-5243 |
| dronck@meridiancap.com | curt@meridiancap.com |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. Miscellaneous Provisions.** This Agreement, including the attached **Exhibit A**, constitutes the entire agreement between the Parties pertaining to the subject matter contained herein, and supersedes any other oral or written agreements or understandings between the Parties pertaining to the subject matter of this Agreement. No representations regarding the Parties' relationship, or any obligations to each other, have been made or survive except as set forth or described in this Agreement and the attached **Exhibit A**. This Agreement cannot be amended, supplemented or modified, and no provision may be waived, except by a written instrument signed by both Parties. In the event either Party violates, attempts to violate or purports to violate any of the provisions of this Agreement, the failure of the other Party at any time to enforce any of its rights or remedies with respect thereto shall not constitute a waiver by that Party of any of its rights or remedies to enforce this Agreement, either with respect to the same violation or any further violations of any of the provisions of this Agreement. This Agreement shall inure to the benefit of, and shall be binding upon, the Parties hereto and their respective successors and assigns. The Parties agree that this Agreement shall not be construed to create any third-party beneficiaries. This Agreement is for the sole benefit of the Parties and no other person or entity shall be entitled to rely upon or receive any benefit from this Agreement or any of its terms. This Agreement shall be construed and enforced in accordance with the laws of the State of Texas, without giving effect to the principles of conflicts of law. The Parties hereby confer exclusive venue and personal jurisdiction upon a state or federal court in Dallas County, Texas, to determine any dispute or matters arising out of or related to this Agreement or any breach hereof. The section headings in this Agreement are provided for convenience only and will not affect the construction or interpretation of this Agreement. All references to "section" or "sections" refer to the corresponding section or sections of this Agreement unless otherwise specified. All words used in this Agreement will be construed to be of such gender or number as the circumstances require. Unless otherwise expressly provided, the word "including" does not limit the preceding words or terms.

**IN WITNESS WHEREOF**, each of the Parties has executed this Agreement through their duly authorized officer or representative as of the Effective Date written above.

**LOANING COMPANY**

---

| | |
|:---|:---|
| By: | /s/ David K. Ronck |
| Name: | David K. Ronck |
| Title: | President |
| Date: | 11/18/2025 |
| **MVI** | **MVI** |
| By: | /s/ Curtis R. Boisfontaine, Jr. |
| Name: | Curtis R. Boisfontaine, Jr. |
| Title: | President |
| Date: | 11/18/2025 |

---

**<u>EXHIBIT A</u>**

**Loaned Employee Statement of Work**

---

| | | | |
|:---|:---|:---|:---|
| Employee: | Miles Blanton | Employee: | Carter Boisfontaine |
| Position: | Controller | Position: | Director of Capital Markets |
| Work Description: | Accounting & Investor Relations | Work Description: | responsible for the company's fund raising efforts |
| Employee: | David Ronck | Employee: | Curt Boisfontaine |
| Position: | Secretary / Treasurer | Position: | President |
| Work Description: | oversee day to day operations | Work Description: | oversee day to day operations |

---

## Ex1A-8

**Exhibit 8.1**

**MERIDIAN MV CHICAGO, LLC**

**Audited Financial** **statementS**

**Years Ended December 31, 2023 and 2022**

*(Expressed in United States Dollars)*

 

 

 

 

 

 

 

 

**Index to Financial Statements**

---

| | |
|:---|:---|
|  | **Page** |
| [INDEPENDENT AUDITORS' REPORT](#f_001) | F-2 |
| FINANCIAL STATEMENTS: |  |
| &nbsp;&nbsp;&nbsp;[Balance Sheets](#f_002) | F-4 |
| &nbsp;&nbsp;&nbsp;[Statements of Operations](#f_003) | F-5 |
| &nbsp;&nbsp;&nbsp;[Statements of Changes in Members' Equity](#f_004) | F-6 |
| &nbsp;&nbsp;&nbsp;[Statements of Cash Flows](#f_005) | F-7 |
| &nbsp;&nbsp;&nbsp;[Notes to Financial Statements](#f_006) | F-8 |

---

![](ex8-1_001.jpg)

**INDEPENDENT AUDITORS' REPORT**

To the Board of Members of

Meridian MV Chicago, LLC

Dallas, Texas

**Opinion**

We have audited the financial statements of Meridian MV Chicago, LLC (the "Company,"), which comprise the balance sheets as of December 31, 2023 and 2022, and the related statements of operations, changes in members' equity, and cash flows for the years then ended, and the related notes to the financial statements.

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023 and 2022, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

**Responsibilities of Management for the Financial Statements**

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

In preparing the consolidated financial statements, management is required to evaluate whether there are conditions or events considered in the aggregate that raise substantial doubt about the Company's ability to continue as a going concern for a period of twelve months from the date of issuance of these financial statements.

**Auditor's Responsibilities for the Audit of the Financial Statements**

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and, therefore, is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users made on the basis of these consolidated financial statements.

In performing an audit in accordance with GAAS, we:

● Exercise professional judgment and maintain professional skepticism throughout the audit.

![](ex8-1_001.jpg)

● Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements.

● Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.

● Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the consolidated financial statements.

● Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.

![](ex8-1_002.jpg)

January 29, 2025

Los Angeles, California

**Meridian MV Chicago, LLC**

**Balance Sheets**

**For The Years Ended December 31, 2023 and 2022**

---

| | | |
|:---|:---|:---|
| **As of December 31,** | **2023** | **2022** |
| (USD $ in Dollars) |  |  |
| **ASSETS** |  |  |
| **Current Assets:** |  |  |
| Cash & Cash Equivalents | $523557 | $379942 |
| Accounts Receivable | 59128 | 58500 |
| **Total Current Assets** | **582685** | **438442** |
| Property and Equipment, net | 14061124 | 14794160 |
| Land | 3436860 | 3436860 |
| **Total Assets** | $**18080669** | $**18669462** |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| **Current Liabilities:** |  |  |
| Accounts Payable | $264914 | $86770 |
| Loans and Promissory Notes, current portion | 483800 | 488301 |
| Other Current Liabilities | 227631 | 268615 |
| **Total Current Liabilities** | **976345** | **843686** |
| Loans and Promissory Notes, net of current portion | 16727352 | 17146679 |
| **Total Liabilities** | **17703697** | **17990365** |
| **MEMBERS' EQUITY** |  |  |
| Members' Equity | 420938 | 723063 |
| Syndication Costs | (43966) | (43966) |
| **Total Members' Equity** | **376972** | **679097** |
| **Total Liabilities And Members' Equity** | $**18080669** | $**18669462** |

---

*See accompanying notes to financial statements.*

**Meridian MV Chicago, LLC**

**Statements of Operations**

**For The Years Ended December 31, 2023 and 2022**

---

| | | |
|:---|:---|:---|
| **For Fiscal Year Ended December 31,** | **2023** | **2022** |
| (USD $ in Dollars) |  |  |
| **Revenue** |  |  |
| Rental Income | $2204473.00 | $2196605.00 |
| **Expenses** |  |  |
| Depreciation and Amortization | 797508 | 797566 |
| Interest Expense | 665940 | 684070 |
| Property Operating Costs | 113005 | 179098 |
| Management Fees | 50004 | 50004 |
| Legal and Accounting | 8579 | 9850 |
| General and Administrative | 61768 | 34348 |
| **Total Expenses** | **1696804** | **1754936** |
| **Net Income** | $**507669** | $**441669** |

---

*See accompanying notes to financial statements.*

**Meridian MV Chicago, LLC**

**Statements of Changes in Members' Equity**

**For The Years Ended December 31, 2023 and 2022**

---

| | |
|:---|:---|
| **(in , $US)** | |
| **Balance—December 31, 2021** | $**1145764** |
| Capital Distribution | (864370) |
| Net Income | 441669 |
| **Balance—December 31, 2022** | $**723063** |
| Capital Distribution | (809794) |
| Net Income | 507669 |
| **Balance—December 31, 2023** | $**420938** |

---

*See accompanying notes to financial statements.*

 

 

**Meridian MV Chicago, LLC**

**Statements Of Cash Flows**

**For The Years Ended December 31, 2023 and 2022**

---

| | | |
|:---|:---|:---|
| **As of December 31,** | **2023** | **2022** |
| (USD $ in Dollars) |  |  |
| **CASH FLOW FROM OPERATING ACTIVITIES** |  |  |
| Net Income | $507669 | $441669 |
| ***Adjustments to reconcile net income to net cash provided by operating activities:*** |  |  |
| Depreciation and Amortization | 797508 | 797566 |
| ***Changes in operating assets and liabilities:*** |  |  |
| Accounts Receivable | (628) | 42722 |
| Accounts Payable | 178144 | 3845 |
| Other Current Liabilities | (40983) | (28764) |
| **Net Cash Provided By Operating Activities** | **1441710** | **1257038** |
| **CASH FLOW FROM INVESTING ACTIVITIES** |  |  |
| Purchases of Property and Equipment | - | - |
| **Net Cash Used In Investing Activities** | **-** | **-** |
| **CASH FLOW FROM FINANCING ACTIVITIES** |  |  |
| Capital Distribution | (809794) | (864370) |
| Borrowing on Promissory Notes and Loans | (488301) | (471740) |
| **Net Cash Used In Financing Activities** | **(1298095)** | **(1336110)** |
| **Change In Cash and Cash Equivalents** | **143615** | **(79073)** |
| Cash and Cash Equivalents—Beginning Of Year | 379942 | 459015 |
| **Cash and Cash Equivalents—End Of Year** | $**523557** | $**379942** |
| **SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION** |  |  |
| Cash Paid During The Year For Interest | $665940 | $684070 |

---

*See accompanying notes to financial statements.*

**Meridian MV Chicago, LLC**

**Notes to Financial Statements**

**For The Years Ended December 31, 2023 And 2022**

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

Meridian MV Chicago, LLC was formed on October 25, 2017, in the State of Texas. The financial statements of Meridian MV Chicago, LLC (which may be referred to as the "Company", "we", "us", or "our") are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The Company's headquarters are located in Dallas, Texas.

Meridian MV Chicago, LLC is a Texas limited liability company formed for the sole purpose of acquiring, renovating, leasing, and eventually selling or liquidating a 65,000-square-foot, state-of-the-art veterinary specialty hospital.

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

The summary of significant accounting policies is presented to assist in understanding the Company's financial statements. The accounting policies conform to accounting principles generally accepted in the United States of America ("GAAP" and "US GAAP").

**<u>Basis of Presentation</u>**

The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with US GAAP and the Company has adopted the calendar year as its basis for reporting.

**<u>Use of Estimates</u>**

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

**<u>Cash and Cash Equivalents</u>**

Cash and cash equivalents include all cash in banks, cash on hand, and all highly liquid investments with original maturities of three months or less at the time of purchase. As of December 31, 2023, the Company's cash & cash equivalents exceeded FDIC-insured limits by $47,657, while as of December 31, 2022, the Company's cash & cash equivalents did not exceed FDIC-insured limits.

**<u>Concentration of Credit Risk</u>**

The Company is subject to concentrations of credit risks primarily from cash, cash equivalents, and notes receivable. At various times during the years, the Company may have bank deposits in excess of Federal Deposit Insurance Corporation insurance limits. Management believes any credit risk is low due to the overall financial strength of the financial institutions. Accounts receivable consist of uncollateralized receivables from customers/clients primarily located throughout the United States of America.

**<u>Accounts Receivable</u>**

Accounts receivable are carried net of allowance for expected credit losses. The allowance for expected credit losses is increased by provision charged to expense and reduced by accounts charged off, net of recoveries. The allowance is maintained at a level considered adequate to provide for potential account losses based on management's evaluation of the anticipated impact on the balance of current economic conditions, changes in character and size of the balance, past and expected future loss experience, and other pertinent factors.

**Meridian MV Chicago, LLC**

**Notes to Financial Statements**

**For The Years Ended December 31, 2023 And 2022**

In June 2016, the FASB issued ASU No. 2016-13, "Financial Instrument – Credit Losses.". This ASU, and the related ASUs issued subsequently by the FASB, introduce a new model for recognizing credit loss on financial assets not accounted for at fair values through net income, including loans, debt securities, trade receivables, net investment in leases, and available-for-sale debt securities. The new ASU broadens the information that an entity must consider in developing estimates of expected credit losses and requires an entity to estimate credit losses over the life of an exposure based on historical information, current information, and reasonable supportable forecasts.

The Company adopted this ASU on January 1, 2023, using the modified retrospective approach. The adoption of this ASU did not have a material impact on financial statements. As of December 31, 2023, and 2022, the Company determined that no allowance for expected credit loss was necessary.

**<u>Property and Equipment</u>**

Property and equipment are stated at cost. Expenditures for additions, major renewals, and betterments are capitalized, and expenditures for maintenance and repairs are charged against income as incurred. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in statements of operations.

Depreciation and amortization of property and equipment are computed using the straight-line method over the estimated useful lives of the respective assets. Leasehold improvements are amortized on a straight-line basis over either the useful life of the improvement or the remainder of the related lease term, whichever is shorter.

Estimated useful lives for property and equipment are as follows:

---

| | |
|:---|:---|
| **Category** | **Useful Life** |
| Buildings | 40 years |
| Furniture and Fixtures | 15 years |
| Equipment | 5-7 years |

---

**<u>Impairment of Long-Lived Assets</u>**

Long-lived assets, including property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. An impairment loss is recorded in the period in which it is determined that the carrying amount is not recoverable. The determination of recoverability is made based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. The measurement of the impairment for long-lived assets is based on the asset's estimated fair value. No such impairment was recorded for the year ended December 31, 2023 and 2022.

**<u>Rental Income – Lessor Accounting</u>**

All leases on our properties are classified as noncancelable operating leases, and the related rental income is recognized on a straight-line basis over the terms of the related leases. Differences between rental income earned and amounts due per the respective lease agreements are capitalized or charged, as applicable, to accrued rents and accounts receivable. Recoveries from tenants for taxes, insurance, and other operating expenses are recognized as revenues in the period the corresponding costs are incurred. We combine lease and non-lease components in lease contracts, which include combining base rent, recoveries, and percentage rents into a single line item, Rental, within the statements of operations.

**Meridian MV Chicago, Llc**

**Notes to Financial Statements**

**For The Years Ended December 31, 2023 And 2022**

**<u>Income Taxes</u>**

The Company has been organized as a limited liability company and has elected to be taxed as a partnership, which is not a tax-paying entity for federal income tax purposes, and therefore, no provision for federal income taxes is reflected in its records. The income or loss of the limited liability company is passed through to the members and reported on their individual income tax returns.

**<u>Fair Value of Financial Instruments</u>**

The carrying value of the Company's financial instruments included in current assets and current liabilities (such as cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to the short-term nature of such instruments).

The inputs used to measure fair value are based on a hierarchy that prioritizes observable and unobservable inputs used in valuation techniques. These levels, in order of highest to lowest priority, are described below:

***Level 1*** — Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities.

***Level 2*** — Observable prices that are based on inputs not quoted on active markets but corroborated by market data.

***Level 3*** — Unobservable inputs reflecting the Company's assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

**<u>Subsequent Events</u>**

The Company considers events or transactions that occur after the balance sheet date, but prior to the issuance of the financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated through January 29, 2025, which is the date the financial statements were available to be issued.

**<u>Recently Issued and Adopted Accounting Pronouncements</u>**

The FASB issues ASUs to amend the authoritative literature in ASC. There have been a number of ASUs to date that amend the original text of ASC. Management believes that those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to us, or (iv) are not expected to have a significant impact on our financial statements.

**Meridian MV Chicago, LLC**

**Notes to financial statements**

**For The Years Ended December 31, 2023 and 2022**

**3.** **DETAILS OF CERTAIN ASSETS AND LIABILITIES** 

Accounts receivable comprise primarily of trade receivables, while accounts payable comprise primarily of trade payables. Other current liabilities comprise accrued expenses.

**4.** **PROPERTY AND EQUIPMENT** 

Property and equipment consist of:

---

| | | |
|:---|:---|:---|
| **As of Year Ended December 31,** | **2023** | **2022** |
| Buildings | $20918059 | $20918059 |
| **Property and Equipment, at cost** | **20918059** | **20918059** |
| Accumulated depreciation | (6856935) | (6123899) |
| **Property and Equipment, net** | $**14061124** | $**14794160** |

---

Depreciation expenses for the years ended December 31, 2023, and 2022 were $733,036 and $733,094, respectively.

**5.** **MEMBERS' EQUITY** 

The ownership percentages of the members as of December 31, 2023 are as follows:

---

| | |
|:---|:---|
| **Member's Name** | **Ownership Percentage** |
| Clements Family Investments, LLC | 11.9% |
| James Carry | 6.0% |
| Paramount Investments | 6.0% |
| Clariot New Albany, LLC | 6.0% |
| Others | 70.1% |
| **Total** | **100.0%** |

---

**6.** **DEBT** 

The Company had outstanding term loans/ notes payables with varying maturities. Details of loans outstanding are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | | **As of December 31,** | **As of December 31,** |
| <br>**Instrument Type** | **Maturity**<br>**year** | **Effective**<br>**Interest Rate** | **2023** | **2022** |
| Promisory note |  |  | $17211152 | $17634980 |
|  |  |  | **17211152** | **17634980** |
| Less: Debt Issuance Costs |  |  | - | - |
| Total Notes Payable, net |  |  | **17211152** | **17634980** |
| Less: Current Portion, net | 2044 | 3.7% | (483800) | (488301) |
| **Notes Payable, net** |  |  | $**16727352** | $**17146679** |

---

**Meridian MV Chicago, LLC**

**Notes to Financial Statements**

**For The Years Ended December 31, 2023 and 2022**

As of December 31, 2023, the maturities of long-term borrowings are as follows:

---

| | |
|:---|:---|
| **As of December 31,** | **2023** |
| 2024 | 483800 |
| 2025 | 504267 |
| 2026 | 523671 |
| 2027 | 543822 |
| 2028 | 563119 |
| Thereafter | 14592473 |
| **Total Maturities Of Long-Term Borrowings** | **17211152** |
| Less: Current Portion of Long-Term Borrowings | (483800) |
| **Long-Term Borrowings** | $**16727352** |

---

**7.** **RELATED PARTY TRANSACTIONS** 

In 2023 and 2022, Meridian Realty Advisors, L.P., a related party through common ownership, provided services to the Company. During both years ended December 31, 2023, and 2022, the Company incurred expenses in the amount of $50,004, which is included in management fees in the statements of income and comprehensive income.

**8.** **COMMITMENTS AND CONTINGENCIES** 

**<u>Contingencies</u>**

The Company's operations are subject to various local, state, and federal regulations. Failure to comply with these requirements may result in fines, penalties, restrictions on operations, or loss of permits, which will have an adverse impact on the Company's operations and might result in an outflow of economic resources.

**<u>Litigation and Claims</u>**

From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As of December 31, 2023 and December 31, 2022 there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of the Company's operations.

**9.** **SUBSEQUENT EVENTS** 

The Company has evaluated subsequent events that occurred after December 31, 2023, through January 29, 2025, which is the issuance date of these financial statements.

There have been no events or transactions during this time which would have a material effect on these financial statements.

**Meridian MV Chicago, LLC**

**Balance Sheet**

**As of December 31, 2023**

---

| | |
|:---|:---|
| **ASSETS** | |
| Partnership - Checking I | $204956 |
| Operating Account | $201602 |
| Escrow - Tax | $96055 |
| Escrow - Replacement Reserve | $20944 |
| &nbsp;&nbsp;&nbsp;**Total Cash and Cash Equivalents** | $**523557** |
| Accounts Receivable - Other | $59128 |
| &nbsp;&nbsp;&nbsp;**Total Accounts Receivable** | $**59128** |
| Land | $3436860 |
| Land Basis Adjustment | $522633 |
| Buildings | $20804548 |
| Buildings Improvement | $113511 |
| Buildings Basis Adjustment | $3161474 |
| Accumulated Depreciation | $(7418808) |
| &nbsp;&nbsp;&nbsp;**Total Fixed Assets** | $**20620218** |
| Syndication Costs | $43966 |
| Loan Costs | $451306 |
| Accumulated Amortization - Loan | $(279380) |
| Capitalized Leasing Costs | $50814 |
| Accumulated Amortization - Capital Lease | $(9147) |
| &nbsp;&nbsp;&nbsp;**Total Other Assets** | $**257559** |
| **TOTAL ASSETS** | $**21460462** |
| **LIABILITIES** |  |
| Prepaid Rent Liability | $190113 |
| Accounts Payable - Other | $74801 |
| &nbsp;&nbsp;&nbsp;**Total Accounts Payable** | $**264914** |
| Accrued Property Taxes | $164000 |
| Accrued Interest Expense | $55819 |
| &nbsp;&nbsp;&nbsp;**Total Accrued Expenses** | $**219819** |
| Security Deposit Payable | $7813 |
| &nbsp;&nbsp;&nbsp;**Total Other Liabilities** | $**7813** |
| Bank Loan Payable | $17383078 |
| &nbsp;&nbsp;&nbsp;**Total Notes Payable** | $**17383078** |
| **EQUITY** |  |
| Retained Earnings | $(330093) |
| Equity - Outside Interest | $3584838 |
| Current Year Income/Loss | $330093 |
| &nbsp;&nbsp;&nbsp;**Total Equity** | $**3584838** |
| **TOTAL LIABILITIES & EQUITY** | $**21460462** |

---

**Meridian MV Chicago, LLC**

**Profit & Loss**

**As of December 31, 2023**

---

| | | |
|:---|:---|:---|
|  | **MTD** | **YTD** |
| **REVENUE** | | |
| **Revenue** | | |
| Rental Income | 176027 | 2087135 |
| Rental Income - Additional | 14715 | 178069 |
| Rental Income - Pass Through Adj. Prior Year | (60731) | (60731) |
|  | **130010** | **2204473** |
| **EXPENSES** |  |  |
| **Payroll Expenses** |  |  |
| **Administrative and Office** |  |  |
| Bank Fees | 516 | 6696 |
|  | **516** | **6696** |
| **Travel** |  |  |
| Meals | 0 | 110 |
|  | **0** | **110** |
| **Insurance** |  |  |
| Liability Insurance | 573 | 4333 |
|  | **573** | **4333** |
| **Management Fees** |  |  |
| Asset Management Fees | 4167 | 50004 |
|  | **4167** | **50004** |
| **Professional Fees** |  |  |
| Accounting Fees | 0 | 8150 |
| Professional Fees | 0 | 24515 |
| Legal Expense | 0 | 429 |
| Registered Agents Fees | 0 | 429 |
|  | **0** | **33523** |
| **Repairs & Maintenance** |  |  |
| **Utilities & Services** |  |  |
| Water | 1141 | 9736 |
|  | **1141** | **9736** |
| **OSHA Safety** |  |  |
| **Janitorial** |  |  |
| **Computer & Telephone** |  |  |
| Software Support | 0 | 7154 |
| Computer Software | 300 | 3450 |
|  | **300** | **10604** |
| **Taxes & Fees** |  |  |
| Annual Filing Fees | 0 | 77 |
|  | **(9794)** | **77** |
| **Real Estate Taxes** |  |  |
| Property Taxes | (47731) | 103269 |
|  | **(47731)** | **103269** |
| **Miscellaneous** |  |  |
| Bad Debt Expense | 0 | 4 |
| Charitable Contributions | 0 | 15000 |
|  | **0** | **15004** |
| **Rent Expense** |  |  |
| **Total Operating Expenses** | **(50827)** | **233356** |
| **EBITDA** | **180837** | **1971116** |
| Bank Interest | 55819 | 665940 |
|  | 55819 | 665940 |
| **EBTDA** | **125018** | **1305177** |
| Depreciation Expense | 75918 | 908579 |
| Amortization Expense | 5542 | 66505 |
|  | **81460** | **975084** |
| **NET INCOME(LOSS)** | **43558** | **330093** |

---

**Meridian MV Chicago, LLC**

**Profit & Loss - Trailing 12 Months**

**As of December 31, 2023**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **01-2023** | **02-2023** | **03-2023** | **04-2023** | **05-2023** | **06-2023** | **07-2023** | **08-2023** | **09-2023** | **10-2023** | **11-2023** | **12-2023** | **Total** |
| **REVENUE** | | | | | | | | | | | | | |
| **Revenue** | | | | | | | | | | | | | |
| Rental Income | 171774 | 171774 | 171774 | 171774 | 171940 | 171940 | 176027 | 176027 | 176027 | 176027 | 176027 | 176027 | 2087135 |
| Rental Income - Additional | 18287 | 18287 | 14087 | 14087 | 14087 | 14087 | 14087 | 14087 | 14087 | 14087 | 14087 | 14715 | 178069 |
| Rental Income - Pass Through Adj. Prior Year | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (60731) | (60731) |
|  | **190061** | **190061** | **185860** | **185860** | **186026** | **186026** | **190113** | **190113** | **190113** | **190113** | **190113** | **130010** | **2204473** |
| **EXPENSES** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Payroll Expenses** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Administrative and Office** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Bank Fees | 481 | 458 | 463 | 485 | 510 | 494 | 508 | 504 | 488 | 1266 | 524 | 516 | 6696 |
|  | **481** | **458** | **463** | **485** | **510** | **494** | **508** | **504** | **488** | **1266** | **524** | **516** | **6696** |
| **Travel** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Meals | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 110 | 0 | 0 | 0 | 0 | 110 |
|  | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **110** | **0** | **0** | **0** | **0** | **110** |
| **Insurance** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Liability Insurance | 380 | 380 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 333 | 573 | 4333 |
|  | **380** | **380** | **333** | **333** | **333** | **333** | **333** | **333** | **333** | **333** | **333** | **573** | **4333** |
| **Management Fees** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Asset Management Fees | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 50004 |
|  | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **50004** |
| **Professional Fees** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Accounting Fees | 0 | 0 | 0 | 8150 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8150 |
| Professional Fees | 0 | 0 | 0 | 0 | 0 | 0 | 23329 | 0 | 0 | 0 | 1186 | 0 | 24515 |
| Legal Expense | 0 | 0 | 0 | 0 | 0 | 429 | 0 | 0 | 0 | 0 | 0 | 0 | 429 |
| Registered Agents Fees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 429 | 0 | 0 | 0 | 429 |
|  | **0** | **0** | **0** | **8150** | **0** | **429** | **23329** | **0** | **429** | **0** | **1186** | **0** | **33523** |
| **Repairs & Maintenance** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Utilities & Services** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Water | 907 | 907 | 753 | 753 | 753 | 753 | 753 | 753 | 753 | 753 | 753 | 1141 | 9736 |
|  | **907** | **907** | **753** | **753** | **753** | **753** | **753** | **753** | **753** | **753** | **753** | **1141** | **9736** |
| **OSHA Safety** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Janitorial** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Computer & Telephone** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Software Support | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7154 | 0 | 7154 |
| Computer Software | 250 | 250 | 250 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 3450 |
|  | **250** | **250** | **250** | **300** | **300** | **300** | **300** | **300** | **300** | **300** | **7454** | **300** | **10604** |
| **Taxes & Fees** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Annual Filing Fees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 77 | 0 | 0 | 77 |
|  | **0** | **0** | **0** | **9794** | **0** | **0** | **0** | **0** | **0** | **77** | **0** | **(9794)** | **77** |
| **Real Estate Taxes** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Property Taxes | 17000 | 17000 | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | (47731) | 103269 |
|  | **17000** | **17000** | **13000** | **13000** | **13000** | **13000** | **13000** | **13000** | **13000** | **13000** | **13000** | **(47731)** | **103269** |
| **Miscellaneous** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Bad Debt Expense | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 |
| Charitable Contributions | 0 | 0 | 0 | 5000 | 0 | 0 | 0 | 0 | 10000 | 0 | 0 | 0 | 15000 |
|  | **0** | **0** | **1** | **5000** | **0** | **0** | **0** | **0** | **10000** | **0** | **0** | **0** | **15004** |
| **Rent Expense** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Total Operating Expenses** | **23186** | **23163** | **18967** | **41983** | **19063** | **19477** | **42391** | **19168** | **29471** | **19897** | **27418** | **(50827)** | **233356** |
| **EBITDA** | **166875** | **166899** | **166893** | **143878** | **166963** | **166550** | **147722** | **170945** | **160643** | **170216** | **162695** | **180837** | **1971116** |
| Bank Interest | 57286 | 51613 | 57013 | 55063 | 56794 | 54798 | 56494 | 56365 | 54441 | 56077 | 54177 | 55819 | 665940 |
|  | 57286 | 51613 | 57013 | 55063 | 56794 | 54798 | 56494 | 56365 | 54441 | 56077 | 54177 | 55819 | 665940 |
| **EBTDA** | **109589** | **115286** | **109880** | **88814** | **110169** | **111752** | **91228** | **114580** | **106202** | **114139** | **108519** | **125018** | **1305177** |
| Depreciation Expense | 75696 | 75696 | 75696 | 75696 | 75696 | 75696 | 75696 | 75696 | 75696 | 75696 | 75696 | 75918 | 908579 |
| Amortization Expense | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 66505 |
|  | **81239** | **81239** | **81239** | **81239** | **81239** | **81239** | **81239** | **81239** | **81239** | **81239** | **81239** | **81460** | **975084** |
| **NET INCOME(LOSS)** | **28351** | **34047** | **28642** | **7576** | **28930** | **30513** | **9989** | **33342** | **24964** | **32901** | **27280** | **43558** | **330093** |

---

**Meridian MV Chicago, LLC**

**Summary Trial Balance**

**As of December 31, 2023**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Account Name** | **Beg. Balance** | **Debits** | **Credits** | **End Balance** |
| Partnership - Checking I | $227106 | $1001551 | $1023702 | $204956 |
| Operating Account | $36388 | $3821017 | $3655803 | $201602 |
| Escrow - Tax | $108450 | $168633 | $181028 | $96055 |
| Escrow - Replacement Reserve | $7997 | $12947 | $- | $20944 |
| &nbsp;&nbsp;&nbsp;**Total Cash and Cash Equivalents** | $**379942** | $**5004147** | $**4860532** | $**523557** |
| Accounts Receivable | $(16504) | $2804646 | $2978255 | $(190113) |
| Accounts Receivable - Other | $58500 | $628 | $- | $59128 |
| &nbsp;&nbsp;&nbsp;**Total Accounts Receivable** | $**41996** | $**2805274** | $**2978255** | $**(130985)** |
| Land | $3436860 | $- | $- | $3436860 |
| Land Basis Adjustment | $522633 | $- | $- | $522633 |
| Buildings | $20804548 | $- | $- | $20804548 |
| Buildings Improvement | $113511 | $- | $- | $113511 |
| Buildings Basis Adjustment | $3161474 | $- | $- | $3161474 |
| Accumulated Depreciation | $(6510229) | $- | $908579 | $(7418808) |
| &nbsp;&nbsp;&nbsp;**Total Fixed Assets** | $**21528797** | $**-** | $**908579** | $**20620218** |
| Syndication Costs | $43966 | $- | $- | $43966 |
| Loan Costs | $451306 | $- | $- | $451306 |
| Accumulated Amortization - Loan | $(214908) | $- | $64472 | $(279380) |
| Capitalized Leasing Costs | $50814 | $- | $- | $50814 |
| Accumulated Amortization - Capital Lease | $(7114) | $- | $2033 | $(9147) |
| &nbsp;&nbsp;&nbsp;**Total Other Assets** | $**324064** | $**-** | $**66505** | $**257559** |
| **TOTAL ASSETS** | $**22274798** | $**8351480** | $**9355929** | $**21270349** |
| Accounts Payable - Other | $70266 | $122241 | $126776 | $74801 |
| &nbsp;&nbsp;&nbsp;**Total Accounts Payable** | $**70266** | $**838672** | $**843207** | $**74801** |
| Accrued Property Taxes | $203400 | $207885 | $168485 | $164000 |
| Accrued Interest Expense | $57402 | $795093 | $793510 | $55819 |
| &nbsp;&nbsp;&nbsp;**Total Accrued Expenses** | $**260802** | $**1002977** | $**961994** | $**219819** |
| Security Deposit Payable | $7813 | $- | $- | $7813 |
| &nbsp;&nbsp;&nbsp;**Total Other Liabilities** | $**7813** | $**-** | $**-** | $**7813** |
| Bank Loan Payable | $17871380 | $569058 | $80756 | $17383078 |
| &nbsp;&nbsp;&nbsp;**Total Notes Payable** | $**17871380** | $**569058** | $**80756** | $**17383078** |
| Retained Earnings | $- | $2087135 | $1757042 | $(330093) |
| Equity - Outside Interests | $565050 | $507412 | $330093 | $387732 |
| Meridian Chicago Vet Investors, LLC | $3499488 | $302381 | $- | $3197107 |
| Current Year Income/Loss | $- | $3547144 | $3877237 | $330093 |
| &nbsp;&nbsp;&nbsp;**Total Equity** | $**4064538** | $**6444072** | $**5964372** | $**3584838** |
| **TOTAL LIABILITIES & EQUITY** | $**22274798** | $**8854778** | $**7850329** | $**21270349** |
| Rental Income | $- | $5566 | $2092701 | $2087135 |
| Rental Income - Additional | $- | $- | $178069 | $178069 |
| Rental Income - Pass Through Adj. Prior Year | $- | $60731 | $- | $(60731) |
| &nbsp;&nbsp;&nbsp;**Total Revenue** | $**-** | $**66297** | $**2270770** | $**2204473** |
| Bank Fees | $- | $6696 | $- | $6696 |
| Meals | $- | $110 | $- | $110 |
| Liability Insurance | $- | $4427 | $93 | $4333 |
| Asset Management Fees | $- | $50004 | $- | $50004 |
| Accounting Fees | $- | $8150 | $- | $8150 |
| Professional Fees | $- | $24515 | $- | $24515 |
| Legal Expense | $- | $429 | $- | $429 |
| Registered Agents Fees | $- | $429 | $- | $429 |
| Water | $- | $10044 | $308 | $9736 |
| Software Support | $- | $7154 | $- | $7154 |
| Computer Software | $- | $3450 | $- | $3450 |
| Annual Filing Fees | $- | $77 | $- | $77 |
| Property Taxes | $- | $164000 | $60731 | $103269 |
| Bad Debt Expense | $- | $5 | $0 | $4 |
| Charitable Contributions | $- | $15000 | $- | $15000 |
| Bank Interest | $- | $2201480 | $1535540 | $665940 |
| Depreciation Expense | $- | $908579 | $- | $908579 |
| Amortization Expense | $- | $66505 | $- | $66505 |
| &nbsp;&nbsp;&nbsp;**Total Expenses** | $**-** | $**3480847** | $**1606467** | $**1874380** |
| **NET INCOME** | $**-** | $**(3414550)** | $**664303** | $**330093** |

---

**Meridian MV Chicago, LLC**

**Cash Flow Statement**

**For the Period Ending December 31, 2023**

---

| | | |
|:---|:---|:---|
|  | **Month to Date** | **Year to Date** |
| **Operating Activities, Cash Flows Provided by or Used in:** | | |
| &nbsp;&nbsp;&nbsp;Net Income | 43558 | 330093 |
| &nbsp;&nbsp;&nbsp;Depreciation and Amortization | 81460 | 975084 |
| &nbsp;&nbsp;&nbsp;Decrease (Increase) in Accounts Receivable | (6194) | 172981 |
| &nbsp;&nbsp;&nbsp;Increase (Decrease) in Accounts Payable | 62446 | 4535 |
| &nbsp;&nbsp;&nbsp;Increase (Decrease) in Accrued Expenses | (46089) | (40983) |
| **Net Cash Flows From Operating Activities** | 135181 | 1441709 |
| **Investing Activities, Cash Flows Provided by or Used in:** |  |  |
| **Financing Activities, Cash Flows Provided by or Used in:** |  |  |
| &nbsp;&nbsp;&nbsp;Contributions/(Distributions) | 320299 | (479700) |
| &nbsp;&nbsp;&nbsp;Loans | (41679) | (488301) |
| **Net Cash Flows from Financing Activities** | 278620 | (968001) |
| **Net Increase (Decrease) in Cash and Cash Equivalents:** | **413801** | **473708** |
| **Cash at Beginning** | 439849 | 379942 |
| **Cash at End** | 523557 | 523557 |
|  | 83708 | 143615 |

---

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Property Name:** | **Property Name:** | **Meridian MV Chicago, LLC** | **Meridian MV Chicago, LLC** | **Meridian MV Chicago, LLC** | **Meridian MV Chicago, LLC** | **Loan #** | **00529033840-78573** | **00529033840-78573** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** |  | **Tenant In** | **Renewal Options<br> Notes** |
| **Rent Roll As of Date** | **Rent Roll As of Date** | **06/30/25** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Building Square Footage** | **Building Square Footage** | **Building Square Footage** | **64718** | **64718** |  | **Possession <br> of Space,**<br> **Open for** | **Comments (Rent**<br> **Increases**, |
| **Occupany Status<br> Vacant / Occupied / Down** | **Unit # / Suite #** | **Tenant Name** | **Lease Type - use drop down** | **Tenant Type - use drop down** | **Square Footage** | **% of Total Square Footage** | **Base Monthly Rent** | **Monthly Reimbursement** | **Other Income** | **Common Area Maintenance Charges** | **Real Estate Taxes (Paid by Tenant)** | **Other Charges** | **Security<br> Deposit<br> provided by<br> Tenant to<br> Landlord** | **Lease Start Date** | **Move-In Date** | **Lease Expiration Date** | **Business and Paying Rent (Yes / No)** | **Extention Options, CAMS, % of Sales, etc.)** |
| Occupied | Bldg 1 | MedVet Associates | NNN | Office | 60968 | 94.206% | $171759.08 | $13800.00 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $- | $13800.00 | $- | $- | 07/01/19 | 07/01/19 | 06/30/34 | YES | Annual escalation at 2.50%; two (2) five year extensions. |
| Occupied | Bldg 1 | Pathway Vet Alliance | NNN | Office | 3750 | 5.794% | $8798.14 | $2503.00 | $- | $903.00 | $1200.00 | $400.00 | $7812.50 | 05/13/19 | 05/13/19 | 04/30/29 | YES | Annual escalation at 2.00%; two (2) five year extensions. |
|  |  | **TOTALS** |  |  | **64718** | **100.000%** | $**180557.22** | $**16303.00** | $**-** | $**903.00** | $**15000.00** | $**400.00** | $**7812.50** |  |  |  |  |  |

---

**Meridian MV Chicago, LLC**

**Balance Sheet**

**As of December 31, 2024**

---

| | |
|:---|:---|
| **ASSETS** | |
| Partnership - Checking I | $11081 |
| Operating Account | $412031 |
| Escrow - Tax | $37334 |
| Escrow - Replacement Reserve | $33891 |
| &nbsp;&nbsp;&nbsp;**Total Cash and Cash Equivalents** | $**494337** |
| Accounts Receivable - Other | $58500 |
| &nbsp;&nbsp;&nbsp;**Total Accounts Receivable** | $**58500** |
| Land | $3436860 |
| Land Basis Adjustment | $522633 |
| Buildings | $20804548 |
| Buildings Improvement | $113511 |
| Buildings Basis Adjustment | $3161474 |
| Accumulated Depreciation | $(8118664) |
| &nbsp;&nbsp;&nbsp;**Total Fixed Assets** | $**19920362** |
| Syndication Costs | $43966 |
| Loan Costs | $451306 |
| Accumulated Amortization - Loan | $(343852) |
| Capitalized Leasing Costs | $50814 |
| Accumulated Amortization - Capital Lease | $(11180) |
| &nbsp;&nbsp;&nbsp;**Total Other Assets** | $**191054** |
| **TOTAL ASSETS** | $**20664252** |
| **LIABILITIES** |  |
| Accounts Payable | $77 |
| Prepaid Rent Liability | $194875 |
| Accounts Payable - Other | $34699 |
| &nbsp;&nbsp;&nbsp;**Total Accounts Payable** | $**229651** |
| Accrued Property Taxes | $156000 |
| Accrued Interest Expense | $53726 |
| &nbsp;&nbsp;&nbsp;**Total Accrued Expenses** | $**209726** |
| Security Deposit Payable | $7813 |
| &nbsp;&nbsp;&nbsp;**Total Other Liabilities** | $**7813** |
| Bank Loan Payable | $16877995 |
| &nbsp;&nbsp;&nbsp;**Total Notes Payable** | $**16877995** |
| **EQUITY** |  |
| Retained Earnings | $(590803) |
| Equity - Outside Interest | $3339069 |
| Current Year Income/Loss | $590803 |
| &nbsp;&nbsp;&nbsp;**Total Equity** | $**3339069** |
| **TOTAL LIABILITIES & EQUITY** | $**20664252** |

---

**Meridian MV Chicago, LLC**

**Profit & Loss**

**As of December 31, 2024**

---

| | | |
|:---|:---|:---|
|  | **MTD** | **YTD** |
| **REVENUE** | | |
| **Revenue** | | |
| Rental Income | 180385 | 2138806 |
| Rental Income - Additional | 12916 | 171500 |
| Rental Income - Pass Through Adj. Prior Year | (17626) | (17626) |
|  | **175675** | **2292680** |
| **EXPENSES** |  |  |
| **Payroll Expenses** |  |  |
| **Administrative and Office** |  |  |
| Bank Fees | 519 | 6146 |
| Administrative Expense | 750 | 6750 |
|  | **1269** | **12896** |
| **Travel** |  |  |
| Meals | 0 | 4755 |
|  | **0** | **4755** |
| **Insurance** |  |  |
| Liability Insurance | 765 | 4735 |
|  | **765** | **4735** |
| **Management Fees** |  |  |
| Asset Management Fees | 4167 | 50004 |
|  | **4167** | **50004** |
| **Professional Fees** |  |  |
| Accounting Fees | 0 | 13875 |
| Professional Fees | 0 | 3675 |
| Consulting Fees | 5000 | 5000 |
| Legal Expense | 0 | 27241 |
| Registered Agents Fees | 0 | 449 |
|  | **5000** | **50240** |
| **Repairs & Maintenance** |  |  |
| **Utilities & Services** |  |  |
| Water | (849) | 10765 |
|  | **(849)** | **10765** |
| **OSHA Safety** |  |  |
| **Janitorial** |  |  |
| **Computer & Telephone** |  |  |
| Software Support | 0 | 6698 |
| Computer Software | 300 | 3600 |
|  | **300** | **10298** |
| **Taxes & Fees** |  |  |
| Annual Filing Fees | 77 | 77 |
|  | **(11496)** | **77** |
| **Real Estate Taxes** |  |  |
| Property Taxes | (4626) | 138374 |
|  | **(4626)** | **138374** |
| **Miscellaneous** |  |  |
| Bad Debt Expense | 0 | 2 |
| Charitable Contributions | 0 | 5000 |
|  | **0** | **5002** |
| **Rent Expense** |  |  |
| **Total Operating Expenses** | **(5470)** | **287146** |
| **EBITDA** | **181145** | **2005534** |
| Bank Interest | 53726 | 648370 |
|  | 53726 | 648370 |
| **EBTDA** | **127419** | **1357165** |
| Depreciation Expense | 58483 | 699856 |
| Amortization Expense | 5542 | 66505 |
|  | **64025** | **766361** |
| **NET INCOME(LOSS)** | **63395** | **590803** |

---

**Meridian MV Chicago, LLC**

**Profit & Loss - Trailing 12 Months**

**As of December 31, 2024**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **01-2024** | **02-2024** | **03-2024** | **04-2024** | **05-2024** | **06-2024** | **07-2024** | **08-2024** | **09-2024** | **10-2024** | **11-2024** | **12-2024** | **Total** |
| **REVENUE** | | | | | | | | | | | | | |
| **Revenue** | | | | | | | | | | | | | |
| Rental Income | 176027 | 176027 | 176027 | 176027 | 176195 | 176195 | 180385 | 180385 | 180385 | 180385 | 180385 | 180385 | 2138806 |
| Rental Income - Additional | 14087 | 14087 | 14490 | 14490 | 14490 | 14490 | 14490 | 14490 | 14490 | 14490 | 14490 | 12916 | 171500 |
| Rental Income - Pass Through Adj. Prior Year | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (17626) | (17626) |
|  | **190113** | **190113** | **190517** | **190517** | **190685** | **190685** | **194875** | **194875** | **194875** | **194875** | **194875** | **175675** | **2292680** |
| **EXPENSES** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Payroll Expenses** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Administrative and Office** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Bank Fees | 506 | 530 | 495 | 487 | 513 | 493 | 507 | 529 | 517 | 520 | 530 | 519 | 6146 |
| Administrative Expense | 0 | 0 | 0 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 6750 |
|  | **506** | **530** | **495** | **1237** | **1263** | **1243** | **1257** | **1279** | **1267** | **1270** | **1280** | **1269** | **12896** |
| **Travel** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Meals | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4755 | 0 | 0 | 4755 |
|  | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **4755** | **0** | **0** | **4755** |
| **Insurance** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Liability Insurance | 333 | 333 | 367 | 367 | 367 | 367 | 367 | 367 | 367 | 367 | 367 | 765 | 4735 |
|  | **333** | **333** | **367** | **367** | **367** | **367** | **367** | **367** | **367** | **367** | **367** | **765** | **4735** |
| **Management Fees** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Asset Management Fees | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 50004 |
|  | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **50004** |
| **Professional Fees** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Accounting Fees | 0 | 0 | 0 | 0 | 13875 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13875 |
| Professional Fees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3675 | 0 | 0 | 0 | 0 | 3675 |
| Consulting Fees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5000 | 5000 |
| Legal Expense | 0 | 5713 | 0 | 20054 | 0 | 0 | 0 | 0 | 1475 | 0 | 0 | 0 | 27241 |
| Registered Agents Fees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 449 | 0 | 0 | 0 | 449 |
|  | **0** | **5713** | **0** | **20054** | **13875** | **0** | **0** | **3675** | **1924** | **0** | **0** | **5000** | **50240** |
| **Repairs & Maintenance** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Utilities & Services** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Water | 753 | 753 | 1123 | 1123 | 1123 | 1123 | 1123 | 1123 | 1123 | 1123 | 1123 | (849) | 10765 |
|  | **753** | **753** | **1123** | **1123** | **1123** | **1123** | **1123** | **1123** | **1123** | **1123** | **1123** | **(849)** | **10765** |
| **OSHA Safety** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Janitorial** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Computer & Telephone** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Software Support | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6698 | 0 | 6698 |
| Computer Software | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 3600 |
|  | **300** | **300** | **300** | **300** | **300** | **300** | **300** | **300** | **300** | **300** | **6998** | **300** | **10298** |
| **Taxes & Fees** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Annual Filing Fees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 77 | 77 |
|  | **0** | **0** | **0** | **11573** | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **(11496)** | **77** |
| **Real Estate Taxes** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Property Taxes | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | 13000 | (4626) | 138374 |
|  | **13000** | **13000** | **13000** | **13000** | **13000** | **13000** | **13000** | **13000** | **13000** | **13000** | **13000** | **(4626)** | **138374** |
| **Miscellaneous** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Bad Debt Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Charitable Contributions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5000 | 0 | 0 | 0 | 5000 |
|  | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **5000** | **0** | **0** | **0** | **5002** |
| **Rent Expense** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Total Operating Expenses** | **19060** | **24797** | **19452** | **51821** | **34095** | **20200** | **20214** | **23911** | **27148** | **24982** | **26935** | **(5470)** | **287146** |
| **EBITDA** | **171053** | **165317** | **171065** | **138695** | **156590** | **170485** | **174661** | **170964** | **167727** | **169893** | **167939** | **181145** | **2005534** |
| Bank Interest | 55695 | 52000 | 55413 | 53514 | 55164 | 53279 | 54868 | 54758 | 52838 | 54532 | 52583 | 53726 | 648370 |
|  | 55695 | 52000 | 55413 | 53514 | 55164 | 53279 | 54868 | 54758 | 52838 | 54532 | 52583 | 53726 | 648370 |
| **EBTDA** | **115358** | **113316** | **115652** | **85181** | **101426** | **117206** | **119793** | **116206** | **114888** | **115361** | **115356** | **127419** | **1357165** |
| Depreciation Expense | 58307 | 58307 | 58307 | 58307 | 58307 | 58307 | 58307 | 58307 | 58307 | 58307 | 58307 | 58483 | 699856 |
| Amortization Expense | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 66505 |
|  | **63849** | **63849** | **63849** | **63849** | **63849** | **63849** | **63849** | **63849** | **63849** | **63849** | **63849** | **64025** | **766361** |
| **NET INCOME(LOSS)** | **51510** | **49468** | **51803** | **21332** | **37577** | **53357** | **55944** | **52358** | **51040** | **51512** | **51507** | **63395** | **590803** |

---

**Meridian MV Chicago, LLC**

**Summary Trial Balance**

**As of December 31, 2024**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Account Name** | **Beg. Balance** | **Debits** | **Credits** | **End Balance** |
| Partnership - Checking I | $204956 | $853000 | $1046875 | $11081 |
| Operating Account | $201602 | $3223805 | $3013376 | $412031 |
| Escrow - Tax | $96055 | $196617 | $255338 | $37334 |
| Escrow - Replacement Reserve | $20944 | $14026 | $1079 | $33891 |
| &nbsp;&nbsp;&nbsp;**Total Cash and Cash Equivalents** | $**523557** | $**4287448** | $**4316669** | $**494337** |
| Accounts Receivable | $(190113) | $2496227 | $2500989 | $(194875) |
| Accounts Receivable - Other | $59128 | $628 | $1257 | $58500 |
| &nbsp;&nbsp;&nbsp;**Total Accounts Receivable** | $**(130985)** | $**2496856** | $**2502246** | $**(136375)** |
| Land | $3436860 | $- | $- | $3436860 |
| Land Basis Adjustment | $522633 | $- | $- | $522633 |
| Buildings | $20804548 | $- | $- | $20804548 |
| Buildings Improvement | $113511 | $- | $- | $113511 |
| Buildings Basis Adjustment | $3161474 | $- | $- | $3161474 |
| Accumulated Depreciation | $(7418808) | $- | $699856 | $(8118664) |
| &nbsp;&nbsp;&nbsp;**Total Fixed Assets** | $**20620218** | $**-** | $**699856** | $**19920362** |
| Syndication Costs | $43966 | $- | $- | $43966 |
| Loan Costs | $451306 | $- | $- | $451306 |
| Accumulated Amortization - Loan | $(279380) | $- | $64472 | $(343852) |
| Capitalized Leasing Costs | $50814 | $- | $- | $50814 |
| Accumulated Amortization - Capital Lease | $(9147) | $- | $2033 | $(11180) |
| &nbsp;&nbsp;&nbsp;**Total Other Assets** | $**257559** | $**-** | $**66505** | $**191054** |
| **TOTAL ASSETS** | $**21270349** | $**7301813** | $**8102785** | $**20469377** |
| Accounts Payable | $- | $727930 | $728007 | $77 |
| Accounts Payable - Other | $74801 | $76375 | $36273 | $34699 |
| &nbsp;&nbsp;&nbsp;**Total Accounts Payable** | $**74801** | $**804304** | $**764280** | $**34776** |
| Accrued Property Taxes | $164000 | $164000 | $156000 | $156000 |
| Accrued Interest Expense | $55819 | $650463 | $648370 | $53726 |
| &nbsp;&nbsp;&nbsp;**Total Accrued Expenses** | $**219819** | $**814463** | $**804370** | $**209726** |
| Security Deposit Payable | $7813 | $- | $- | $7813 |
| &nbsp;&nbsp;&nbsp;**Total Other Liabilities** | $**7813** | $**-** | $**-** | $**7813** |
| Bank Loan Payable | $17383078 | $505084 | $- | $16877995 |
| &nbsp;&nbsp;&nbsp;**Total Notes Payable** | $**17383078** | $**505084** | $**-** | $**16877995** |
| Retained Earnings | $- | $2586594 | $1995791 | $(590803) |
| Equity - Outside Interests | $387732 | $627897 | $693958 | $453792 |
| Meridian Chicago Vet Investors, LLC | $3197107 | $311830 | $- | $2885276 |
| Current Year Income/Loss | $- | $3017140 | $3607943 | $590803 |
| &nbsp;&nbsp;&nbsp;**Total Equity** | $**3584838** | $**6543461** | $**6297692** | $**3339069** |
| **TOTAL LIABILITIES & EQUITY** | $**21270349** | $**8667313** | $**7866341** | $**20469377** |
| Rental Income | $- | $- | $2138806 | $2138806 |
| Rental Income - Additional | $- | $3228 | $174728 | $171500 |
| Rental Income - Pass Through Adj. Prior Year | $- | $17626 | $- | $(17626) |
| &nbsp;&nbsp;&nbsp;**Total Revenue** | $**-** | $**20854** | $**2313534** | $**2292680** |
| Bank Fees | $- | $6146 | $- | $6146 |
| Meals | $- | $4755 | $- | $4755 |
| Liability Insurance | $- | $4735 | $- | $4735 |
| Asset Management Fees | $- | $50004 | $- | $50004 |
| Accounting Fees | $- | $13875 | $- | $13875 |
| Professional Fees | $- | $3675 | $- | $3675 |
| Consulting Fees | $- | $5000 | $- | $5000 |
| Legal Expense | $- | $27241 | $- | $27241 |
| Registered Agents Fees | $- | $449 | $- | $449 |
| Administrative Expense | $- | $6750 | $- | $6750 |
| Water | $- | $12737 | $1972 | $10765 |
| Software Support | $- | $6698 | $- | $6698 |
| Computer Software | $- | $3600 | $- | $3600 |
| Annual Filing Fees | $- | $77 | $- | $77 |
| Property Taxes | $- | $156000 | $17626 | $138374 |
| Bad Debt Expense | $- | $2 | $- | $2 |
| Charitable Contributions | $- | $5000 | $- | $5000 |
| Bank Interest | $- | $1911608 | $1263238 | $648370 |
| Depreciation Expense | $- | $699856 | $- | $699856 |
| Amortization Expense | $- | $66505 | $- | $66505 |
| &nbsp;&nbsp;&nbsp;**Total Expenses** | $**-** | $**2996286** | $**1294409** | $**1701877** |
| **NET INCOME** | $**-** | $**(2975431)** | $**1019125** | $**590803** |

---

**Meridian MV Chicago, LLC**

**Cash Flow Statement**

**For the Period Ending December 31, 2024**

---

| | | |
|:---|:---|:---|
|  | **Month to Date** | **Year to Date** |
| **Operating Activities, Cash Flows Provided by or Used in:** | | |
| &nbsp;&nbsp;&nbsp;Net Income | 63395 | 590803 |
| &nbsp;&nbsp;&nbsp;Depreciation and Amortization | 64025 | 766361 |
| &nbsp;&nbsp;&nbsp;Decrease (Increase) in Accounts Receivable | 183719 | 5390 |
| &nbsp;&nbsp;&nbsp;Increase (Decrease) in Accounts Payable | 12494 | (40025) |
| &nbsp;&nbsp;&nbsp;Increase (Decrease) in Accrued Expenses | (3483) | (10093) |
| **Net Cash Flows From Operating Activities** | 320149 | 1312436 |
| **Investing Activities, Cash Flows Provided by or Used in:** |  |  |
| **Financing Activities, Cash Flows Provided by or Used in:** |  |  |
| &nbsp;&nbsp;&nbsp;Contributions/(Distributions) | (11573) | (836573) |
| &nbsp;&nbsp;&nbsp;Loans | (43325) | (505084) |
| **Net Cash Flows from Financing Activities** | (54898) | (1341657) |
| **Net Increase (Decrease) in Cash and Cash Equivalents:** | **265252** | **(29220)** |
| **Cash at Beginning** | 229085 | 523557 |
| **Cash at End** | 494337 | 494337 |
|  | 265252 | (29220) |

---

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Property Name:** | **Property Name:** | **Meridian MV Chicago, LLC** | **Meridian MV Chicago, LLC** | **Meridian MV Chicago, LLC** | **Meridian MV Chicago, LLC** | **Loan #** | **00529033840-78573** | **00529033840-78573** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** |  |  | **Renewal** |
| **Rent Roll As of Date** | **Rent Roll As of Date** | **06/30/25** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Building Square Footage** | **Building Square Footage** | **Building Square Footage** | **64718** | **64718** |  | **Tenant In<br> Possession<br> of Space,<br> Open for** | **Options<br> Notes<br> Comments<br> (Rent<br> Increases,** |
| **Occupany Status<br> Vacant / Occupied / Down** | **Unit # / Suite #** | **Tenant Name** | **Lease Type - use drop down** | **Tenant Type - use drop down** | **Square Footage** | **% of Total Square Footage** | **Base Monthly Rent** | **Monthly Reimbursement** | **Other Income** | **Common Area Maintenance Charges** | **Real Estate Taxes (Paid by Tenant)** | **Other Charges** | **Security<br> Deposit<br> provided by <br> Tenant to<br> Landlord** | **Lease Start Date** | **Move-In Date** | **Lease Expiration Date** | **Business and Paying Rent (Yes / No)** | **Extention Options, CAMS, % of Sales, etc.)** |
| Occupied | Bldg 1 | MedVet Associates | NNN | Office | 60968 | 94.206% | $171759.08 | $13800.00 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $- | $13800.00 | $- | $- | 07/01/19 | 07/01/19 | 06/30/34 | YES | Annual escalation at 2.50%; two (2) five year extensions. |
| Occupied | Bldg 1 | Pathway Vet Alliance | NNN | Office | 3750 | 5.794% | $8798.14 | $2503.00 | $- | $903.00 | $1200.00 | $400.00 | $7812.50 | 05/13/19 | 05/13/19 | 04/30/29 | YES | Annual escalation at 2.00%; two (2) five year extensions. |
|  |  | **TOTALS** |  |  | **64718** | **100.000%** | $**180557.22** | $**16303.00** | $**-** | $**903.00** | $**15000.00** | $**400.00** | $**7812.50** |  |  |  |  |  |

---

**Meridian MV Chicago, LLC**

**Balance Sheet**

**As of September 30, 2025**

---

| | |
|:---|:---|
| **ASSETS** | |
| Partnership - Checking I | $67047 |
| Operating Account | $298631 |
| Escrow - Tax | $80150 |
| Escrow - Replacement Reserve | $42522 |
| &nbsp;&nbsp;&nbsp;**Total Cash and Cash Equivalents** | $**488350** |
| Accounts Receivable - Other | $58500 |
| &nbsp;&nbsp;&nbsp;**Total Accounts Receivable** | $**58500** |
| Land | $3436860 |
| Land Basis Adjustment | $522633 |
| Buildings | $20804548 |
| Buildings Improvement | $113511 |
| Buildings Basis Adjustment | $3161474 |
| Accumulated Depreciation | $(8497543) |
| &nbsp;&nbsp;&nbsp;**Total Fixed Assets** | $**19541483** |
| Syndication Costs | $43966 |
| Loan Costs | $451306 |
| Accumulated Amortization - Loan | $(392206) |
| Capitalized Leasing Costs | $50814 |
| Accumulated Amortization - Capital Lease | $(12704) |
| &nbsp;&nbsp;&nbsp;**Total Other Assets** | $**141175** |
| **TOTAL ASSETS** | $**20229508** |
| **LIABILITIES** |  |
| Accounts Payable | $471 |
| Prepaid Rent Liability | $204302 |
| Accounts Payable - Other | $12103 |
| &nbsp;&nbsp;&nbsp;**Total Accounts Payable** | $**216876** |
| Accrued Property Taxes | $206494 |
| Accrued Interest Expense | $51333 |
| &nbsp;&nbsp;&nbsp;**Total Accrued Expenses** | $**257827** |
| Security Deposit Payable | $7813 |
| &nbsp;&nbsp;&nbsp;**Total Other Liabilities** | $**7813** |
| Bank Loan Payable | $16488071 |
| &nbsp;&nbsp;&nbsp;**Total Notes Payable** | $**16488071** |
| **EQUITY** |  |
| Equity - Outside Interest | $2689069 |
| Current Year Income/Loss | $569853 |
| &nbsp;&nbsp;&nbsp;**Total Equity** | $**3258921** |
| **TOTAL LIABILITIES & EQUITY** | $**20229508** |

---

**Meridian MV Chicago, LLC**

**Profit & Loss**

**As of September 30, 2025**

---

| | | |
|:---|:---|:---|
|  | **MTD** | **YTD** |
| **REVENUE** | | |
| **Revenue** | | |
| Rental Income | 184851 | 1637207 |
| Rental Income - Additional | 16303 | 143101 |
|  | **201154** | **1780308** |
| **EXPENSES** |  |  |
| **Payroll Expenses** |  |  |
| **Administrative and Office** |  |  |
| Advertising Expense | 0 | 17458 |
| Bank Fees | 503 | 4881 |
| Administrative Expense | 750 | 6750 |
|  | **1253** | **29089** |
| **Travel** |  |  |
| **Insurance** |  |  |
| Liability Insurance | 400 | 3533 |
|  | **400** | **3533** |
| **Management Fees** |  |  |
| Asset Management Fees | 4167 | 37503 |
|  | **4167** | **37503** |
| **Professional Fees** |  |  |
| Accounting Fees | 0 | 9200 |
| Professional Fees | 3038 | 67449 |
| Registered Agents Fees | 471 | 471 |
|  | **3509** | **77120** |
| **Repairs & Maintenance** |  |  |
| Repairs & Maintenance | 0 | 995 |
|  | **0** | **995** |
| **Utilities & Services** |  |  |
| Water | 903 | 8570 |
|  | **903** | **8570** |
| **OSHA Safety** |  |  |
| **Janitorial** |  |  |
| **Computer & Telephone** |  |  |
| Computer Software | 300 | 2700 |
|  | **300** | **2700** |
| **Taxes & Fees** |  |  |
| State Income Taxes | 0 | 18186 |
|  | **0** | **18186** |
| **Real Estate Taxes** |  |  |
| Property Taxes | 15000 | 131000 |
|  | **15000** | **131000** |
| **Miscellaneous** |  |  |
| Bad Debt Expense | 0 | 0 |
| Charitable Contributions | 0 | 1250 |
|  | **0** | **1250** |
| **Rent Expense** |  |  |
| **Total Operating Expenses** | **25532** | **309947** |
| **EBITDA** | **175622** | **1470362** |
| Bank Interest | 51333 | 471752 |
|  | 51333 | 471752 |
| **EBTDA** | **124289** | **998610** |
| Depreciation Expense | 42098 | 378878 |
| Amortization Expense | 5542 | 49879 |
|  | **47640** | **428757** |
| **NET INCOME(LOSS)** | **76649** | **569853** |

---

**Meridian MV Chicago, LLC**

**Profit & Loss - Trailing 12 Months**

**As of September 30, 2025**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **10-2024** | **11-2024** | **12-2024** | **01-2025** | **02-2025** | **03-2025** | **04-2025** | **05-2025** | **06-2025** | **07-2025** | **08-2025** | **09-2025** | **Total** |
| **REVENUE** | | | | | | | | | | | | | |
| **Revenue** | | | | | | | | | | | | | |
| Rental Income | 180385 | 180385 | 180385 | 180385 | 180385 | 180385 | 180385 | 180557 | 180557 | 184852 | 184851 | 184851 | 2178361 |
| Rental Income - Additional | 14490 | 14490 | 12916 | 14490 | 14490 | 16303 | 16303 | 16303 | 16303 | 16303 | 16303 | 16303 | 184997 |
| Rental Income - Pass Through Adj. Prior Year | 0 | 0 | (17626) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (17626) |
|  | **194875** | **194875** | **175675** | **194875** | **194875** | **196688** | **196688** | **196860** | **196860** | **201155** | **201154** | **201154** | **2345733** |
| **EXPENSES** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Payroll Expenses** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Administrative and Office** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Advertising Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17458 | 0 | 0 | 0 | 0 | 17458 |
| Bank Fees | 520 | 530 | 519 | 522 | 562 | 544 | 551 | 560 | 556 | 543 | 541 | 503 | 6450 |
| Administrative Expense | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 9000 |
|  | **1270** | **1280** | **1269** | **1272** | **1312** | **1294** | **1301** | **18768** | **1306** | **1293** | **1291** | **1253** | **32908** |
| **Travel** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Meals | 4755 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4755 |
|  | **4755** | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **4755** |
| **Insurance** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Liability Insurance | 367 | 367 | 765 | 367 | 367 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 5033 |
|  | **367** | **367** | **765** | **367** | **367** | **400** | **400** | **400** | **400** | **400** | **400** | **400** | **5033** |
| **Management Fees** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Asset Management Fees | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 4167 | 50004 |
|  | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **4167** | **50004** |
| **Professional Fees** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Accounting Fees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9200 | 0 | 0 | 0 | 0 | 9200 |
| Professional Fees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 29729 | 11487 | 12037 | 11158 | 3038 | 67449 |
| Consulting Fees | 0 | 0 | 5000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5000 |
| Registered Agents Fees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 471 | 471 |
|  | **0** | **0** | **5000** | **0** | **0** | **0** | **0** | **38929** | **11487** | **12037** | **11158** | **3509** | **82120** |
| **Repairs & Maintenance** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Repairs & Maintenance | 0 | 0 | 0 | 0 | 805 | 0 | 0 | 190 | 0 | 0 | 0 | 0 | 995 |
|  | **0** | **0** | **0** | **0** | **805** | **0** | **0** | **190** | **0** | **0** | **0** | **0** | **995** |
| **Utilities & Services** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Water | 1123 | 1123 | (849) | 1123 | 1123 | 903 | 903 | 903 | 903 | 903 | 903 | 903 | 9967 |
|  | **1123** | **1123** | **(849)** | **1123** | **1123** | **903** | **903** | **903** | **903** | **903** | **903** | **903** | **9967** |
| **OSHA Safety** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Janitorial** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Computer & Telephone** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Software Support | 0 | 6698 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6698 |
| Computer Software | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 3600 |
|  | **300** | **6998** | **300** | **300** | **300** | **300** | **300** | **300** | **300** | **300** | **300** | **300** | **10298** |
| **Taxes & Fees** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| State Income Taxes | 0 | 0 | (11573) | 0 | 0 | 0 | 18186 | 0 | 0 | 0 | 0 | 0 | 6613 |
| Annual Filing Fees | 0 | 0 | 77 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 77 |
|  | **0** | **0** | **(11496)** | **0** | **0** | **0** | **18186** | **0** | **0** | **0** | **0** | **0** | **6690** |
| **Real Estate Taxes** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Property Taxes | 13000 | 13000 | (4626) | 13000 | 13000 | 15000 | 15000 | 15000 | 15000 | 15000 | 15000 | 15000 | 152374 |
|  | **13000** | **13000** | **(4626)** | **13000** | **13000** | **15000** | **15000** | **15000** | **15000** | **15000** | **15000** | **15000** | **152374** |
| **Miscellaneous** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Bad Debt Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Charitable Contributions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1250 | 0 | 0 | 1250 |
|  | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **0** | **1250** | **0** | **0** | **1250** |
| **Rent Expense** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Total Operating Expenses** | **24982** | **26935** | **(5470)** | **20229** | **21074** | **22065** | **40257** | **78657** | **33563** | **35351** | **33219** | **25532** | **356394** |
| **EBITDA** | **169893** | **167939** | **181145** | **174646** | **173801** | **174623** | **156431** | **118203** | **163297** | **165804** | **167935** | **175622** | **1989339** |
| Bank Interest | 54532 | 52583 | 53726 | 54500 | 48737 | 53803 | 51961 | 53552 | 51585 | 53283 | 52997 | 51333 | 632593 |
|  | 54532 | 52583 | 53726 | 54500 | 48737 | 53803 | 51961 | 53552 | 51585 | 53283 | 52997 | 51333 | 632593 |
| **EBTDA** | **115361** | **115356** | **127419** | **120146** | **125064** | **120820** | **104470** | **64651** | **111712** | **112521** | **114938** | **124289** | **1356746** |
| Depreciation Expense | 58307 | 58307 | 58483 | 42098 | 42098 | 42098 | 42098 | 42098 | 42098 | 42098 | 42098 | 42098 | 553974 |
| Amortization Expense | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 5542 | 66505 |
|  | **63849** | **63849** | **64025** | **47640** | **47640** | **47640** | **47640** | **47640** | **47640** | **47640** | **47640** | **47640** | **620479** |
| **NET INCOME(LOSS)** | **51512** | **51507** | **63395** | **72506** | **77424** | **73180** | **56830** | **17011** | **64072** | **64881** | **67299** | **76649** | **736267** |

---

**Meridian MV Chicago, LLC**

**Summary Trial Balance**

**As of September 30, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Account Name** | **Beg. Balance** | **Debits** | **Credits** | **End Balance** |
| Partnership - Checking I | $11081 | $1088000 | $1032034 | $67047 |
| Operating Account | $412031 | $2304187 | $2417588 | $298631 |
| Escrow - Tax | $37334 | $123322 | $80506 | $80150 |
| Escrow - Replacement Reserve | $33891 | $8631 | $- | $42522 |
| &nbsp;&nbsp;&nbsp;**Total Cash and Cash Equivalents** | $**494337** | $**3524141** | $**3530127** | $**488350** |
| Accounts Receivable | $(194875) | $1780308 | $1789735 | $(204302) |
| Accounts Receivable - Other | $58500 | $- | $- | $58500 |
| &nbsp;&nbsp;&nbsp;**Total Accounts Receivable** | $**(136375)** | $**1780308** | $**1789735** | $**(145802)** |
| Land | $3436860 | $- | $- | $3436860 |
| Land Basis Adjustment | $522633 | $- | $- | $522633 |
| Buildings | $20804548 | $- | $- | $20804548 |
| Buildings Improvement | $113511 | $- | $- | $113511 |
| Buildings Basis Adjustment | $3161474 | $- | $- | $3161474 |
| Accumulated Depreciation | $(8118664) | $- | $378878 | $(8497543) |
| &nbsp;&nbsp;&nbsp;**Total Fixed Assets** | $**19920362** | $**-** | $**378878** | $**19541483** |
| Syndication Costs | $43966 | $- | $- | $43966 |
| Loan Costs | $451306 | $- | $- | $451306 |
| Accumulated Amortization - Loan | $(343852) | $- | $48354 | $(392206) |
| Capitalized Leasing Costs | $50814 | $- | $- | $50814 |
| Accumulated Amortization - Capital Lease | $(11180) | $- | $1525 | $(12704) |
| &nbsp;&nbsp;&nbsp;**Total Other Assets** | $**191054** | $**-** | $**49879** | $**141175** |
| **TOTAL ASSETS** | $**20469377** | $**5711765** | $**6155935** | $**20025207** |
| Accounts Payable | $77 | $599008 | $599403 | $471 |
| Accounts Payable - Other | $34699 | $34699 | $12103 | $12103 |
| &nbsp;&nbsp;&nbsp;**Total Accounts Payable** | $**34776** | $**635281** | $**613080** | $**12574** |
| Accrued Property Taxes | $156000 | $80506 | $131000 | $206494 |
| Accrued Interest Expense | $53726 | $473665 | $471272 | $51333 |
| &nbsp;&nbsp;&nbsp;**Total Accrued Expenses** | $**209726** | $**554171** | $**602272** | $**257827** |
| Security Deposit Payable | $7813 | $- | $- | $7813 |
| &nbsp;&nbsp;&nbsp;**Total Other Liabilities** | $**7813** | $**-** | $**-** | $**7813** |
| Bank Loan Payable | $16877995 | $389923 | $- | $16488071 |
| &nbsp;&nbsp;&nbsp;**Total Notes Payable** | $**16877995** | $**389923** | $**-** | $**16488071** |
| Equity - Outside Interests | $453792 | $404316 | $- | $49477 |
| Meridian Chicago Vet Investors, LLC | $2885276 | $245685 | $- | $2639592 |
| Current Year Income/Loss | $- | $2028433 | $2598285 | $569853 |
| &nbsp;&nbsp;&nbsp;**Total Equity** | $**3339069** | $**2678433** | $**2598285** | $**3258921** |
| **TOTAL LIABILITIES & EQUITY** | $**20469377** | $**4257808** | $**3813637** | $**20025207** |
| Rental Income | $- | $1972 | $1639179 | $1637207 |
| Rental Income - Additional | $- | $3944 | $147045 | $143101 |
| &nbsp;&nbsp;&nbsp;**Total Revenue** | $**-** | $**5916** | $**1786224** | $**1780308** |
| Advertising Expense | $- | $17458 | $- | $17458 |
| Bank Fees | $- | $4881 | $- | $4881 |
| Liability Insurance | $- | $3932 | $398 | $3533 |
| Asset Management Fees | $- | $37503 | $- | $37503 |
| Accounting Fees | $- | $9200 | $- | $9200 |
| Professional Fees | $- | $67449 | $- | $67449 |
| Registered Agents Fees | $- | $471 | $- | $471 |
| Administrative Expense | $- | $6750 | $- | $6750 |
| Repairs & Maintenance | $- | $995 | $- | $995 |
| Water | $- | $10542 | $1972 | $8570 |
| Computer Software | $- | $2700 | $- | $2700 |
| State Income Taxes | $- | $18186 | $- | $18186 |
| Property Taxes | $- | $131000 | $- | $131000 |
| Bad Debt Expense | $- | $0 | $- | $0 |
| Charitable Contributions | $- | $1250 | $- | $1250 |
| Bank Interest | $- | $1281443 | $809691 | $471752 |
| Depreciation Expense | $- | $378878 | $- | $378878 |
| Amortization Expense | $- | $49879 | $- | $49879 |
| &nbsp;&nbsp;&nbsp;**Total Expenses** | $**-** | $**2022517** | $**812061** | $**1210456** |
| **NET INCOME** | $**-** | $**(2016601)** | $**974163** | $**569853** |

---

**Meridian MV Chicago, LLC**

**Cash Flow Statement**

**For the Period Ending September 30, 2025**

---

| | | |
|:---|:---|:---|
|  | **Month to Date** | **Year to Date** |
| **Operating Activities, Cash Flows Provided by or Used in:** | | |
| &nbsp;&nbsp;&nbsp;Net Income | 76649 | 569853 |
| &nbsp;&nbsp;&nbsp;Depreciation and Amortization | 47640 | 428757 |
| &nbsp;&nbsp;&nbsp;Decrease (Increase) in Accounts Receivable | 0 | 9427 |
| &nbsp;&nbsp;&nbsp;Increase (Decrease) in Other Operating Current Assets | 0 | 0 |
| &nbsp;&nbsp;&nbsp;Increase (Decrease) in Other Assets | 0 | 0 |
| &nbsp;&nbsp;&nbsp;Increase (Decrease) in Inventory | 0 | 0 |
| &nbsp;&nbsp;&nbsp;Increase (Decrease) in Accounts Payable | 1774 | (22202) |
| &nbsp;&nbsp;&nbsp;Increase (Decrease) in Accrued Expenses | 13336 | 48102 |
| &nbsp;&nbsp;&nbsp;Increase (Decrease) in Other Liabilities | 0 | 0 |
| **Net Cash Flows From Operating Activities** | 139399 | 1033937 |
| **Investing Activities, Cash Flows Provided by or Used in:** |  |  |
| &nbsp;&nbsp;&nbsp;Capital Expenditures | 0 | 0 |
| &nbsp;&nbsp;&nbsp;Investments | 0 | 0 |
| &nbsp;&nbsp;&nbsp;Construction in Process | 0 | 0 |
| **Net Cash Flows from Investing Activities** | 0 | 0 |
| **Financing Activities, Cash Flows Provided by or Used in:** |  |  |
| &nbsp;&nbsp;&nbsp;Contributions/(Distributions) | 0 | (650000) |
| &nbsp;&nbsp;&nbsp;Loans | (43325) | (389923) |
| &nbsp;&nbsp;&nbsp;Other Cash Flows From Financing Activities | 0 | 0 |
| **Net Cash Flows from Financing Activities** | (43325) | (1039923) |
| **Net Increase (Decrease) in Cash and Cash Equivalents:** | **96075** | **(5986)** |
| **Cash at Beginning** | 392276 | 494337 |
| **Cash at End** | 488350 | 488350 |
|  | 96075 | (5986) |

---

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Property Name:** | **Property Name:** | **Meridian MV Chicago, LLC** | **Meridian MV Chicago, LLC** | **Meridian MV Chicago, LLC** | **Meridian MV Chicago, LLC** | **Loan #** | **00529033840-78573** | **00529033840-78573** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** | **All columns must be completed for all units** |  | **Renewal** |
| **Rent Roll As of Date** | **Rent Roll As of Date** | **09/30/25** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Commercial Rent Roll** | **Building Square Footage** | **Building Square Footage** | **Building Square Footage** | **64718** | **64718** |  | **Tenant In<br> Possession<br> of Space,<br> Open for** | **Options<br> Notes<br> Comments<br> (Rent<br> Increases,** |
| **Occupany Status<br> Vacant / Occupied / Down** | **Unit # / Suite #** | **Tenant Name** | **Lease Type - use drop down** | **Tenant Type - use drop down** | **Square Footage** | **% of Total Square Footage** | **Base Monthly Rent** | **Monthly Reimbursement** | **Other Income** | **Common Area Maintenance Charges** | **Real Estate Taxes (Paid by Tenant)** | **Other Charges** | **Security<br> Deposit<br> provided by<br> Tenant to<br> Landlord** | **Lease Start Date** | **Move-In Date** | **Lease Expiration Date** | **Business and Paying Rent (Yes / No)** | **Extention Options, CAMS, % of Sales, etc.)** |
| Occupied | Bldg 1 | MedVet Associates | NNN | Office | 60968 | 94.206% | $176053.06 | $13800.00 | $- | $- | $13800.00 | $- | $- | 07/01/19 | 07/01/19 | 06/30/34 | YES | Annual escalation at 2.50%; two (2) five year extensions. |
| Occupied | Bldg 1 | Pathway Vet Alliance | NNN | Office | 3750 | 5.794% | $8798.14 | $2503.00 | $- | $903.00 | $1200.00 | $400.00 | $7812.50 | 05/13/19 | 05/13/19 | 04/30/29 | YES | Annual escalation at 2.00%; two (2) five year extensions. |
|  |  | **TOTALS** |  |  | **64718** | **100.000%** | $**184851.20** | $**16303.00** | $**-** | $**903.00** | $**15000.00** | $**400.00** | $**7812.50** |  |  |  |  |  |

---

## Ex1A-9

**Exhibit 9.1**

**Meridian Veterinary Holdings, LLC**

**3811 Turtle Creek Boulevard, Suite 875**

**Dallas, Texas 75219**

**<u>VIA EMAIL DELIVERY</u>**

jprindt@meridiancap.com

July 15, 2025

Mr. J.P. Rindt

Meridian MV Chicago, LLC

3811 Turtle Creek Boulevard, Ste 875

Dallas, Texas 75219

Re: Letter of Intent to Purchase the approximately 64,718 Gross Square Feet of Related Improvements on approximately 2.45 acres of land located at 3305 n California Ave, Chicago, IL 60618 (the "<u>Property</u>").

Dear J.P.:

We are pleased to present to you this offer outlining the basic terms under which Meridian Veterinary Holdings, LLC or its designee ("<u>Buyer</u>") would be willing to purchase the referenced property (the "<u>Property</u>") from Meridian MV Chicago, LLC ("<u>Seller</u>"). The terms of this non-binding letter of intent ("<u>Letter of Intent</u>") are as follows:

1.  **<u>Purchase Price.</u>** The purchase price (the " <u>Purchase Price</u> ") payable by Buyer
 to Seller at closing for a 100% fee simple interest in the Property and related improvements,
 free and clear of any liens and encumbrances, shall be [Thirty Two Million Five Hundred Thousand
 and 00/100s Dollars ($32,500,000.00).] The Purchase Price shall be payable in cash and assumption
 of existing debt (if Buyer so chooses) at Closing.

2.  **<u>The Contract.</u>** Following execution of this Letter of Intent by both parties, Buyer's
 counsel will prepare a draft contract of Sale (the " <u>Contract</u> ") for Seller's
 review and approval within fifteen (15) days of a fully executed Letter of Intent. The terms
 of such Contract shall be in substantial conformity with the Letter of Intent, which shall
 contain such other terms and conditions, including but not limited to, representations, warranties
 and covenants as are customarily included in contracts for the sale for improved property.

3.  **<u>Earnest Money.</u>** Within three (3) business days of Buyer and Seller executing the Contract,
 Buyer will deposit earnest money of [Three Hundred Twenty Five Thousand and no/100 Dollars
 ($325,000.00)] (" <u>Earnest Money</u> ") with Commonwealth Title of Dallas, Inc
 ("Title Company"), attn. Hailey Curran as the escrow agent. The Earnest Money
 shall be applied, together with interest thereon, to the Purchase Price at Closing. Following
 the expiration of the Feasibility Period (defined below), the Earnest Money shall be non-refundable
 except for Seller's breach, and applicable to the Purchase Price at Closing.

**MedVet Chicago LOI**

**Page 1 of 5**

4.  **<u>Feasibility Period.</u>** Buyer shall have a sixty (60) day period commencing on the effective date
 of the Contract (the " <u>Feasibility Period</u> ") during which Buyer may evaluate
 the Property, including but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Performing all necessary building
studies, environmental inspections and other required inspections and review.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Pursuing/confirming that all
necessary permits, zoning, environmental reviews, licenses, etc., that are necessary for the Property and its use are in place as required.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Seller will provide the following
items, provided they are in Seller's possession or reasonable control: Lease Agreements, Operating and Financial Statements, Property
Condition Reports, Building Plans, Existing Soil Reports, Environmental Reports, copies of any CC&R's (Codes Covenants &
Restrictions) and any governmental correspondence or other documents and notices relates to use, zoning, or any other regulatory matters.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Obtaining a title commitment and a survey

5.  **<u>Feasibility Extension.</u>** Upon the expiration of the Feasibility Period,
Buyer shall have the right and option, at its sole discretion, to extend the Feasibility Period for one (1) period of sixty (60) days
(the " <u>Extension</u> "). Such option shall be exercised by the Buyer giving written notice prior to the end of the current
Feasibility Period together with payment of [ One Hundred Thousand and 00/100s ($100,000.00)] (the " <u>Additional Earnest Money</u> ") for the sixty (60) day extensions granted. All Additional Earnest Money shall be added
to the Earnest Money and shall be fully refundable until the expiration of the Feasibility Period and applicable to the Purchase Price
at Closing.

6.  **<u>Title and Survey.</u>** Seller shall pay the premium for a standard coverage title insurance
 policy written by Commonwealth Title of Dallas, Inc. Any additional premium for a required
 survey endorsement will be at Buyer's sole cost and expense. Within fifteen (15) days
 of execution of the contract, Seller shall deliver to Buyer a title commitment with all attachments
 and a copy of the most recent survey (the " <u>Survey</u> ") of the Property in
 Seller's possession. Seller shall also deliver an Affidavit to the Title Company, in
 form and substance reasonably satisfactory to the Title Company, stating no changes or other
 matters shown by the Survey have changed since the Survey was prepared. If Buyer, Buyer's
 lender or the Title Company requires a new Survey for any reason, then Buyer shall pay for
 the cost of the new Survey.

7.  **<u>Termination.</u>** If, during the Feasibility Period, for any reason whatsoever, Buyer elects not to proceed
 with the transaction, Buyer shall have the right to terminate the Contract whereupon the
 Earnest Money together with any interest earned thereon, shall be returned to Buyer, the
 Contract shall be void and the parties shall have no further obligations or recourse against
 each other. If at any time during the Feasibility Period, Buyer makes the determination that
 it will not have raised sufficient funds from its Reg A+ offering, Buyer may terminate the
 Contract and receive a full refund of any and all Earnest Money deposited as part of the
 planned transaction.

**MedVet Chicago LOI**

**Page 2 of 5**

8.  **<u>Closing.</u>** The Closing Date will be the later of thirty (30) days after Buyer completes its Feasibility
 Period, including any Extensions or the date upon which Buyer has raised sufficient funds
 from its Reg A+ offering to close the purchase. Buyer and Seller shall each be responsible
 for 50% of the Escrow closing costs. Buyer and Seller shall each be responsible for its own
 legal expenses.

9.  **<u>Commissions.</u>** Seller shall be responsible for the payment of any brokerage commissions to Seller and Buyer's
 agents, pursuant to a separate agreement.

10.  **<u>Assignment.</u>** Buyer, at its sole discretion, shall have the right to assign all rights in the Contract
 or acquire title in the name of an affiliated designee, provided that Buyer shall remain
 obligated under the Contract notwithstanding such assignment. To the extent required by Seller,
 Buyer and Seller shall cooperate with each other to affect a tax deferred exchange in accordance
 with Section 1031 of the IRS Code, as amended, provided that such cooperation shall be at
 no cost or liability to the cooperating party and neither party shall be required to accept
 title to any property other than the Property, expend any additional amounts of money above
 those amounts required pursuant to this Agreement, or extend the Closing Date.

11.  **<u>Hazardous Substances.</u>** The Purchase Price is premised upon the assumption that Buyer will be
 responsible for all costs for a Phase I environmental assessment on the Property. Seller
 represents and warrants to the best of its knowledge that there are no hazardous materials
 present on the Property. Buyer or Seller will have the right to terminate the Contract during
 the Feasibility Period or any Extension should any hazardous materials be found. If any hazardous
 materials are found, and a Phase II assessment is called for in the Phase I assessment, Seller
 shall have the option to either (i) permit, at its sole cost and expense, the Phase II assessment
 to occur, or (ii) terminate the Contract.

12.  **<u>Confidentiality.</u>** Buyer and Seller will keep the terms of this Letter of Intent, the proposed transaction
 and all information relating to the Property confidential, and shall not disclose any such
 information without the express written consent of the other party hereto, except that either
 party may disclose such information to its officers, directors, employees, counsel, accountants,
 and others who need to review such information in order to evaluate a potential acquisition
 of the Property by Buyer, or as otherwise required by law. The provisions of this paragraph
 are intended and shall be legally binding upon the Buyer and Seller.

13.  **<u>Legal Effect.</u>** A transaction of this type involves terms and conditions which have not yet
 been agreed upon, and this letter is not intended to be a complete or definitive statement
 of all the terms and conditions of the proposed transaction, but contemplates and is subject
 to the negotiation and execution of a definitive the Contract by the parties hereto. Except
 as provided in Paragraphs 4 concerning Property Information and Due Diligence, and Paragraph
 12 concerning Confidentiality, neither Buyer nor Seller will be legally bound in any manner
 unless and until the Contract has been executed by both parties.

14.  **<u>Seller's Representations and Warranties.</u>** As described in Section 2, Seller acknowledges
that the Contract will contain representations and warranties by Seller such as but not limited to as follows: (i) there are no pending
citations for code violations on the Property; (ii) there is no current, or pending litigation with regard to liens or claims against
the Property; (iii) Seller has good and marketable title subject only to matters of record; (iv) Seller shall not solicit or accept any
offers nor engage in any discussions concerning the sale of the Property; (v) there are no contracts or agreements affecting title to
the Property except as provided to Buyer, and all documents provided by Seller to Buyer, before and after the Due Diligence period are
true and complete.

**MedVet Chicago LOI**

**Page 3 of 5**

If you agree with the forgoing terms, please execute this Letter of Intent and return it to the undersigned no later than [___________, 2025]. All of the agreements referenced herein will require complete execution of the Contract in order to be binding.

We look forward to working with you to successfully complete this transaction in an expeditious manner.

Sincerely,

**Meridian Veterinary Holdings, LLC**

By:   <br> Name: David K. Ronck <br> Its: Authorized Representative

AGREED AND ACCEPTED, this day of ______, 2025

---

| | |
|:---|:---|
| **MERIDIAN MVC CHICAGO, LLC** | **MERIDIAN MVC CHICAGO, LLC** |
| By: |  |
| Name: | Curtis R. Boisfontaine, Jr. |
| Its: | Manager |

---

**MedVet Chicago LOI**

**Page 4 of 5**

**Exhibit A**

**MedVet Chicago LOI**

**Page 5 of 5**

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

## FORM 1-A

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

### Item 1. Issuer Information

**Exact name of issuer:** Meridian Veterinary Investors, Inc.

**Jurisdiction of Incorporation/Organization:** DE

**Year of Incorporation:** 2024

**CIK:** 0002061879

**I.R.S. Employer Identification Number:** 33-2463674

**Primary Standard Industrial Classification Code:** 6512

**Total number of full-time employees:** 0

**Total number of part-time employees:** 0

**Address of Principal Executive Offices:** 3811 Turtle Creek Boulevard, Suite 875, Dallas, TX 75219

**Company Phone:** 214-651-4000

**Person to contact:** Marc B. Minor, Esq.

### Financial Statements

**Balance Sheet Information**

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

**Statement of Comprehensive Income Information**

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

**Auditor Information**

| Metric          | Amount                           |
|:---|:---|
| Name of Auditor | SetApart Accountancy Corporation |

### Outstanding Securities

| Class   |   Outstanding |     CUSIP | Publicly Traded   |
|:---|---:|---:|:---|
| none    |             0 | 000000000 | none              |

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

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

### Item 4. Summary Information Regarding the Offering

**Tier:** Tier2

**Financial Statement Status:** Audited

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

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

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

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

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

**Was there any solicitation of interest?** No

**Are there any resale securities by affiliates of the issuer?** No

**Offering Amounts**

| Description                                                     | Amount       |
|:---|:---|
| Number of securities offered                                    | 7500000      |
| Number of securities outstanding                                | 2            |
| Price per security                                              | $10.00       |
| Issuer's aggregate offering price                               | $75000000.00 |
| Aggregate offering price of securities held by security holders | $0.00        |
| Aggregate price of securities offered concurrently              | $0.00        |
| Total aggregate offering price                                  | $75000000.00 |

**Anticipated Fees**

| Service Provider   | Name                             | Fees       |
|:---|:---|:---|
| Auditor            | SetApart Accountancy Corporation | $16500.00  |
| Legal              | Thompson Hine LLP                | $122000.00 |
| Promoters          | None                             | $0.00      |

**Estimated Net Proceeds to the Issuer:** $71479500.00

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

AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, DC, PR, A0, A1, A2, A3, A4, A5, A6, A7, A8, A9, B0, Z4

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

**Name of Such Issuer:** Meridian Veterinary Investors, Inc.

**Title of Securities Issued:** Common Stock

**Total Amount of Securities Issued:** 2

**Amount of such securities sold by principal security holders:** 0

**Aggregate consideration:** 0

**Basis for aggregate consideration:** —

**Securities Act Exemption:** These interests were issued in a private sale under 4(a)(2) of the Securities Act.