# EDGAR Filing Document

**Accession Number:** 0001895865
**File Stem:** 0001746059-23-000073
**Filing Date:** 2023-3
**Character Count:** 197446
**Document Hash:** 09a9f509f6c7ee32f85d893120e6220e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001746059-23-000073.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001746059-23-000073

**CONFORMED SUBMISSION TYPE**: C

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Honeybee Collective LLC
- **CENTRAL INDEX KEY:** 0001895865
- **IRS NUMBER:** 873481714
- **STATE OF INCORPORATION:** CO

**FILING VALUES:**
- **FORM TYPE:** C
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-32060
- **FILM NUMBER:** 23765504

**BUSINESS ADDRESS:**
- **STREET 1:** 2255 SHERIDAN BLVD
- **CITY:** EDGEWATER
- **STATE:** CO
- **ZIP:** 80214
- **BUSINESS PHONE:** (443) 420-7489

**MAIL ADDRESS:**
- **STREET 1:** 2255 SHERIDAN BLVD
- **CITY:** EDGEWATER
- **STATE:** CO
- **ZIP:** 80214

### Attached PDF Documents

**Attachment 1:** `honeybee2_offmo.pdf`

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

## OFFERING MEMORANDUM

facilitated by

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

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# Honeybee Collective LLC

## FORM C

### OFFERING MEMORANDUM

#### Purpose of This Form

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

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

#### (A) The Company

| Name of Company | Honeybee Collective LLC |
| --- | --- |
| State of Organization | CO |
| Date of Formation | 07/08/2021 |
| Entity Type | Limited Liability Company |
| Street Address | 2255 Sheridan Blvd, Edgewater CO, 80214 |
| Website Address | honeybeecollective.com |

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

| Key Person | Katherine Myers |
| --- | --- |
| Position with the Company | Title First Year Director 2021 |
| Other business experience (last three years) | Health Programs Specialist (Colorado Access, Oct 2020 - Present) - In my role I am responsible for implementing and operationalizing population-based programs focused on individuals enrolled in Medicaid and Children’s Health Plan plus (CHP). I oversee daily general business operations associated with program execution, management and evaluation and coordinate programming across internal departments and external |

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stakeholders to ensure efficient operations. In this position, I design and develop programs that target measurable improvement in health engagement by using the social determinants of health as the foundation of all population-based programming.

- **Professional Sexuality Education Intern** (Chaska Cusco Aug 2019 - May 2020) - I was responsible for assisting in the development of a culturally appropriate comprehensive sexuality education (CSE) program for young women, ages 12-15, who are enrolled in the Chaska program, and was the lead evaluator to examine the effectiveness of the program on increasing the likelihood to engage in sexual risk reduction behaviors. As the lead evaluator for “An Evaluation of a Comprehensive Sexuality Education Program in Cusco, Peru”, I used appropriate research designs and evaluation criteria to assess the effectiveness of the comprehensive sexuality education program. I analyzed quantitative and qualitative data using STATA 16 and thematic analysis taking an ontological approach and used a social science perspective to understand factors associated with health and health behavior.

- **Professional HIV Resources Intern** (Denver Department of Public Health and Environment - Jun 2019 - Nov 2019) In this role, I assisted in restructuring the Denver HIV Resources Planning Council, a requirement of the Ryan White Part A Grant. I developed and implemented a recruitment plan for recruiting community members to serve on the Planning Council to fulfill representation requirements legislatively mandated by HRSA and

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assisted in coordinating the Planning Council and Restructure Workgroup meetings by executing administrative tasks and facilitating group bonding activities and group discussions. To address the immediate needs of the community, I created a consumer resource document communicating the comprehensive HIV resources of each agency the Office of HIV Resources contracts with and developed policies & procedures for updating and management.

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| Key Person | Sholeh Mirzai |
| --- | --- |
| Position with the Company | Title First Year Director 2021 |
| Other business experience (last three years) | Chief Merchandising Officer (goldbug, Sep 2021 - Present) Responsible for all merchandising functions for internal brands & private label. Director of Global & Regional Merchandising (Jansport & Eagle Creek Dec 2019 - Jun 2021) Head of Merchandising reporting into the President. Implement and manage all Merchandising functions for two brands. Responsible for global wholesale and ecomm merchandising, including segmentation, product briefing, margin and revenue goals as well as strategic planning and business development. Co-founder of Justice & Equity Council (internal diversity & inclusion group). Global Product Director-Accessories (Under Armour, Sep 2016 - Jun 2019) Responsible for growing full line of Accessories including headwear, backpacks, gloves, duffles and bedding YoY. Product creation for all global regions (US, LATAM, APAC and EMEA) as well as DTC and .com exclusives. Managed licensees and licensors for Accessories. Achieved margin growth YoY while reducing SKU counts and increasing SKU productivity. |

| Key Person | Erin Parkins |
| --- | --- |
| Position with the Company | Title First Year Director 2021 |
| Other business experience (last three years) | List any other titles and dates of positions held (with this business or other |

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employers) during the past three years with an indication of job responsibilities. For example:

- **Director, Product Marketing**
(Swing Education, Sep 2021 - Present)

Sets the strategic direction for Product Marketing at Swing Education and establishes processes and best practices to guide the team.

Works cross-functionally to bring new products to market and drive user engagement with our customer base.

Manages and mentors a team of Product Marketing Managers in:

- Data-driven market analysis, buyer persona development, market segmentation, and competitive positioning
- Development of compelling assets and sales enablement tools that demonstrate the differentiated value of our products
- Planning and executing product and feature launches
- Training and enabling sales teams to effectively position solutions to customers using consultative sales methodology

**Director of Product Marketing**

- (Turnitin, Feb 2019 - Feb 2021)

Sets the strategic direction for Product Marketing at Turnitin and establishes processes and best practices to guide the team.

Works cross-functionally to bring new products to market and drive user engagement with our customer base.

Manages and mentors a team of Product Marketing Managers in:

- Data-driven market analysis, buyer persona development, market

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segmentation, and competitive positioning

- Development of compelling assets and sales enablement tools that demonstrate the differentiated value of our products

- Planning and executing product and feature launches

- Training and enabling sales teams to effectively position solutions to customers using consultative sales methodology

# - • **Senior Manager, Product Marketing** (Turnitin, Apr 2018 - Feb 2019)

- Accelerated growth by developing and executing marketing strategies and campaigns targeted at new revenue streams

- Tailored core value propositions and promotional efforts for specific, strategic customer segments

- Collaborated with Product Marketing Manager to design and execute market development efforts that build a foundation for bringing new products to market

- Collaborated with sales and marketing leadership to plan and execute targeted, regional marketing campaigns to support new business acquisition in K-12 accounts, focusing on the largest targets across North America

- Developed sales enablement training and resources to support K-12 sales team with product positioning, regional events, and awareness of key market trends and initiatives

- Facilitated two-way communication between sales and marketing to support stronger collaboration and alignment of work towards common goals

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| Key Person | Christopher Becker |
| --- | --- |
| Position with the Company | Title First Year Director 2021 |
| Other business experience (last three years) | List any other titles and dates of positions held (with this business or other employers) during the past three years with an indication of job responsibilities. For example: Job Title ( Employer Name, Start Date - End Date ) - Description of the employer's principle business and this person's job responsibilities. Account Manager (Kaviar, February 2021 - September 2021) - Kaviar is a premium cannabis product manufacturing company. i was responsible for sales of Kaviar branded products to licensed dispensaries in Colorado. Director of Business Development (Think20 Labs, August 2019 - January 2021) - Think20 Labs is a licensed cannabis testing laboratory in Maryland and California. I was responsible for securing new accounts and identifying new business opportunities for the company. |

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

| Name of Holder | % of Voting Power (Prior to Offering) |
| --- | --- |
| Katherine Myers | 20% |
| Sholeh Mirzai | 20% |
| Erin Parkins | 20% |
| Christopher Becker | 20% |

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(D) The Company's Business and Business Plan

The Opportunity

We're raising money to expand distribution into New York

The Honeybee Collective products are currently distributed in 25 licensed Colorado dispensaries, where they are flying off the shelves. Sales are growing 24% month-over-month, with many stores doubling the size of their re-orders. We often get asked "When will you bring The Honeybee Collective to (insert state)?" So we're beginning our expansion into New York, which is predicted to be one of the biggest and most important legal weed markets in the world.

New York's legal weed market represents a huge opportunity in terms of culture and brand awareness, in addition to market size (projected to be $4.2 Billion per year by 2027). To quote Axel Bernabe, the chief of staff and senior policy director for the New York Office of Cannabis Management: "We have high tourism, a lot of brand visibility, a lot of money in the state. So whatever we decide to create in New York, whatever our dispensaries decide to carry, is actually going to impact consumption patterns globally."

What does my investment get me?

You're investing in a Crowd SAFE (Simple Agreement for Future Equity). "A Crowd SAFE is an investment contract between investors and companies looking to raise capital. Individuals make investments for the chance to earn a return-in the form of equity in the company or a cash payout-if the company is acquired, goes public, or sells all of its assets." (Republic.com) We've valued the company and its intellectual property at $5,000,000 based on our success in Colorado and our projections for growth in New York and beyond.

Tips for navigating The Honeybee Collective's equity portal:

- Check out the Data Room tab to review our:
  - Financial Projections
  - Risks for Investors
  - Offering Memorandum
  - Investor Agreement
- If you have any questions please post them in the Discussion tab, or call/ email Chris at 443-420-7489 or chris@honeybeecollective.com
- If you decide to invest, enter the amount and hit Invest

Our Manufacturing Partner

We have partnered with an amazing grower and producer, Hepworth Pura, to manufacture and distribute our products throughout New York. Hepworth Farms is an eighth generation family farm led by sisters by Gail and Amy Hepworth. Their farm grows food in addition to weed, and is renowned for its commitment to environmentally friendly practices. They've teamed up with Pura Cali, a company known for its quality, consistency, and professionalism, to launch products in New York. The combined Hepworth Pura team brings a wealth of operational expertise to the New York market and we are excited to have them as partners.

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# Our Business Model

We license our brand and product standards to growers in exchange for a royalty. The Honeybee Collective provides packaging, marketing, and sales services in exchange for that royalty. We help growers sell more products with better profits and lower upfront costs than establishing their own brands.

- Customers get consistent product that's been vetted for quality and sustainability
- Dispensaries get high-demand, easy to sell products with higher-than-average margins
- Growers get to focus on doing what they do best, growing great weed

# Our Customers

The Honeybee Collective is for everyday weed smokers who want their purchases to make them feel good inside and out

- They care about quality and consistency in their product
- They want to buy from a company that aligns with their values
- They want to support a company that gives back to the community
- They want their voice to matter

We make sustainable & convenient products for conscious, everyday weed smokers

# We Ask

Constant communication with daily weed smokers through surveys, social media, and in person events

# We Listen

Seeking to understand exactly what is missing in the market, what makes people happy, and how we can be a part of their everyday routine

# We Deliver

Brand & product developed and guided by consumer insights

# Our Products

Quality and convenience for the conscious consumer

- Flower grown using natural sunlight and environmentally-friendly practices
- Packaging that's endlessly recyclable or home compostable
- Products designed for the everyday weed smoker
- 10% of profits are reinvested back into the communities we operate in

# Who We Are

We started The Honeybee Collective because we all felt like there had to be a better way of doing business, one that respects workers and the environment. That's why we are:

- Employee-owned, for a more equitable future

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- Sustainable, for a happier planet and people

#### The Team

##### Sholeh Mirzai, Managing Partner, Product & Brand

Sholeh comes from a consumer packaged goods (CPG) background and has worked on industry and globally leading brands such as The North Face, Under Armour and JanSport. She brings deep expertise in brand strategy, product design, and business intelligence. Sholeh oversees product development and business strategy with a keen eye towards consumer-centricity.

##### Erin Parkins, Managing Partner, Marketing & Operations

Erin is a career team builder and marketing strategist and has worked in product marketing and sales in EdTech for over a decade. Her management skills, organization, and attention to detail are invaluable to our team and unmatched in the cannabis space. Erin ensures that our business operates efficiently and guides our communications and marketing activities.

##### Kate Myers, MPH, Managing Partner, Community & Culture

Kate is a thought leader in the community health world. She has significant experience in the non-profit space, both as a fundraiser and a board member at Chaska USA. Kate drives our consumer data collection, community development, and ensures the integrity of our philanthropic partnerships.

##### Chris Becker, Managing Partner, Revenue & Business Development

Chris has sold cannabis products & services in multiple states for operators such as Kaviar, StarBars, Curio, and Think20 Labs; he prides himself on bringing professionalism to cannabis sales. Chris leads our sales efforts with his natural ability to connect with purchasing managers and budtenders alike, enabling The Honeybee Collective to both open new accounts and drive sell-through in current accounts.

##### Suehiko Ono, Managing Partner, Legal & Manufacturing

Suehiko is an accomplished leader in the cannabis industry. Suehiko recently joined the New York enterprise, Hepworth Pura, and he is the Founder & former CEO of EOS Farms in Massachusetts, an 11-acre outdoor Adult Use cannabis farm, who led EOS from concept to $250k/month in wholesale revenues. Suehiko is action-oriented and can accomplish virtually anything he sets out to do. Suehiko has a J.D. from Columbia Law School and is a licensed New York Attorney. His focus at The Honeybee Collective is on sales, product manufacturing (compliance, quality, efficiency & consistency), and distribution.

##### Morgan Steiker, Managing Partner, Events & Partnerships

Morgan is a music and media specialist with 15 years of experience & relationships in the entertainment industry. At The Honeybee Collective Morgan drives new brand development, in-person event activations, and our New York specific marketing strategy.

Help us change the way business is done

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We're The Honeybee Collective, a cannabis brand on a mission to create community wealth and a sustainable future.

Deep Dive: Our Brand Pillars

Employee-Owned ☐ Community-Driven ☐ Sustainable

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

# (E) Number of Employees

The Company currently has 6 employees. The Company may hire or discharge employees in the future to meet its objectives.

# (F) Risks of Investing

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

THESE SECURITIES ARE OFFERED UNDER AN EXEMPTION FROM REGISTRATION UNDER FEDERAL LAW. THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE 'SEC') HAS NOT MADE AN INDEPENDENT DETERMINATION THAT THESE SECURITIES ARE EXEMPT FROM REGISTRATION. THE SEC HAS NOT PASSED UPON THE MERITS OF THE SECURITIES OR THE TERMS OF THE OFFERING, AND HAS NOT PASSED UPON THE ACCURACY OR COMPLETENESS OF THE OFFERING DOCUMENTS OR LITERATURE.

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

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

# (G) Target Offering Amount and Offering Deadline

| Target Offering Amount | $50,000 |
| --- | --- |
| Offering Deadline | August 30, 2023 |

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

# (H) Commitments that Exceed the Target Offering Amount

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| Will the Company accept commitments that exceed the Target Offering Amount? | Yes |
| --- | --- |
| What is the maximum you will accept in this Offering? | $618,000 |
| If Yes, how will the Company deal with the oversubscriptions? | We will accept subscriptions on a first-come, first-served basis. |

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

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

| Use | Amount (Minimum) | Amount (Maximum) |
| --- | --- | --- |
| Packaging | $30,000 | $162,900 |
| Marketing | $17,000 | $180,000 |
| Salaries | $0 | $180,000 |
| Legal | $0 | $9,750 |
| Accounting | $0 | $8,500 |
| Design | $0 | $8,250 |
| Professional Development | $0 | $12,000 |
| Investor Relations | $0 | $3,250 |
| Cash Reserves | $0 | $16,250 |
| Mainvest Compensation | $3,000 | $37,080 |
| TOTAL | $50,000 | $618,000 |

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

#### (J) The Investment Process

##### To Invest

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

##### TO CANCEL YOUR INVESTMENT

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

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#### Other Information on the Investment Process

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

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

#### (K) Material Changes

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

#### Explanation

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

#### (L) Price of the Securities

The Company is offering 'securities' in the form of a Crowdfunding Simple Agreement for Future Equity. The securities are being offered at a value of $1 per 1 Crowd SAFE.

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## (M) Terms of the Securities

### Overview

The Company is offering “securities” in the form of a Crowdfunding Simple Agreement for Future Equity (Crowd SAFE), the terms of which are attached as the Investment Agreement.

### Summary of Terms

| Minimum Amount of the Securities Offered | 50,000 |
| --- | --- |
| Total Amount of the Securities Outstanding after Offering (if Target Offering Amount met) | 50,000 |
| Maximum Amount of the Securities Offered | 618,000 |
| Total Amount of the Securities Outstanding after Offering (if Maximum Offering Amount met) | 618,000 |
| Price Per Security | $1.00 |
| Minimum Individual Purchase Amount | $100.00 |
| Voting Rights | See the description of the voting rights on Crowd Safe Agreement. |

The “Valuation Cap” is $5,000,000.

See Section 2 for certain additional defined terms.

### 1. Events

#### (a) Equity Financing

(i) If an Equity Financing occurs before this instrument terminates in accordance with Sections 1(b)-(d) (“First Equity Financing”), the Company shall notify the Investor of the closing of the First Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd SAFE without converting the Purchase Amount to Membership Interest; or (2) issue to the Investor a number of units of the CF Shadow Units of the Membership Interest (whether Class B Units or another class issued by the Company) sold in the First Equity Financing. The number of units of the CF Shadow Units of such Membership Interest shall equal (a) if the pre-money valuation of the Company is less than or equal to the Valuation Cap, the quotient obtained by dividing (x) the Purchase Amount by (y) the applicable Conversion Price (such applicable Conversion Price, the “First Equity Financing Price”); or (b) if the pre-money valuation of the Company is greater than the Valuation Cap, the quotient obtained by dividing the Purchase Amount by the SAFE Price (either the Conversion Price or the SAFE Price, as applicable, the “First Equity Financing Price”).

(ii) If the Company elects to continue the term of this Crowd SAFE past the First Equity Financing and another Equity Financing occurs before the termination of this Crowd SAFE in accordance with Sections 1(b)-(d) (each, a “Subsequent Equity Financing”), the Company shall notify the Investor of the closing of the Subsequent Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd SAFE without converting the Investor’s Purchase Amount to Membership Interest; or (2) issue to the Investor a number of shares of the CF Shadow Units of the Membership Interest (whether Class B Units or another class issued by the Company) sold in the Subsequent Equity Financing. The number of shares of the CF Shadow Units of such Membership Interest shall equal the quotient obtained by dividing (x) the Purchase Amount by (y) the First Equity Financing Price.

#### (b) Liquidity Event

(i) If there is a Liquidity Event before the termination of this instrument and before any Equity Financing, the Investor will, at its option, either (i) receive a cash payment equal to the Purchase Amount

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(subject to the following paragraph) or (ii) automatically receive from the Company a number of units of Membership Interest equal to the Purchase Amount divided by the Liquidity Price, if the Investor fails to select the cash option. In connection with this Section 1(b)(i), the Purchase Amount will be due and payable by the Company to the Investor immediately prior to, or concurrent with, the consummation of the Liquidity Event. If there are not enough funds to pay the Investor and holders of other Crowd SAFEs (collectively, the “**Cash-Out Investors**”) in full, then all of the Company’s available funds will be distributed with equal priority and pro rata among the Cash-Out Investors in proportion to their Purchase Amounts.

(ii) If there is a Liquidity Event after one or more Equity Financings have occurred but before the termination of this instrument, the Investor will, at its option, either (i) receive a cash payment equal to the Purchase Amount (as described in the foregoing paragraph) or (ii) automatically receive from the Company a number of units of the most recently issued Membership Interest (whether Class B Units or another class issued by the Company) equal to the Purchase Amount divided by the First Equity Financing Price, if the Investor fails to select the cash option. Units of Membership Interest granted in connection therewith shall have the same liquidation rights and preferences as the units of Membership Interest issued in connection with the Company’s most recent Equity Financing.

(c) **Dissolution Event.** If there is a Dissolution Event before this instrument terminates in accordance with Sections 1(a) or 1(b), subject to the preferences applicable to any class of Membership Interest, the Company will distribute its entire assets legally available for distribution with equal priority among the (i) Investors (on an as converted basis based on a valuation of Membership Interest as determined in good faith by the Company’s Managers at the time of Dissolution Event); (ii) all other holders of instruments sharing in the assets of the Company at the same priority as holders of Membership Interest upon a Dissolution Event; and (iii) all holders of Membership Interest.

(d) **Termination.** This instrument will terminate (without relieving the Company or the Investor of any obligations arising from a prior breach of or non-compliance with this instrument) upon the earlier to occur: (i) the issuance of CF Shadow Units to the Investor pursuant to Section 1(a) or Section 1(b); or (ii) the payment, or setting aside for payment, of amounts due to the Investor pursuant to Sections 1(b) or 1(c).

#### Obligation to Contribute Capital

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

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#### Other Classes of Securities

| Name of Security | Limited Liability Company Interests |
| --- | --- |
| Number of Shares Outstanding | 0 |
| Describe Voting Rights of These Securities, Including Any Limitations on Voting Rights | N/A |
| How these securities differ from the revenue sharing notes being offered to investors | Limited Liability Company Interests are an equity interest, whereas Revenue Sharing Notes are a debt obligation of the Company. |

#### Dilution of Rights

The Company has the right to create additional classes of securities, both equity securities and debt securities (e.g., other classes of promissory notes). Some of these additional classes of securities could have rights that are superior to those of the Crowd SAFE

#### The People Who Control the Company

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

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| Name of Holder | % of Voting Power (Prior to Offering) |
| --- | --- |
| Katherine Myers | 20% |
| Sholeh Mirzai | 20% |
| Erin Parkins | 20% |
| Christopher Becker | 20% |

#### How the Exercise of Voting Rights Could Affect You

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

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

#### How the Crowd SAFEs are Being Valued

The Company is offering “securities” in the form of equity via Crowd SAFEs. The Crowd SAFEs are being offered at a value of $1 per Crowd SAFE.

#### (N) The Funding Portal

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

#### (O) Compensation of the Funding Portal

Upon successful funding of the Offering, the Funding Portal will receive as the “Revenue Securement Fee”; 4% of the amount of the Offering raised by In-Network Users of the Platform plus 8% of the amount of the Offering raised by all other investors. “In-Network Users” means a user of Mainvest.com who who have utilized the Company’s specified in-network link on the Site.

#### (P) Indebtedness of the Company

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| Creditor | Amount | Interest Rate | Maturity Date | Other Important Terms |
| --- | --- | --- | --- | --- |
| Chris Becker | $72,000 | 5% | 09/01/2027 | No payments for first 3 years, interest only for additional 2 years. |
| Previous Crowdfunding Campaign | $241,800 | 12% | 01/01/2027 | Revenue Sharing Note |
| Kate Myers | $1,200 | 5% | 09/01/2027 |  |

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

December 2021 Rule 17CFR 227 (Regulation Crowdfunding) Revenue Sharing Notes $250,000
Please refer to the company's Form C/U dated March 3rd, 2022 for additional disclosures

#### (R) Transactions Between the Company and "Insiders"

On August 1, 2021 the Company signed a promissory note with its Director of Revenue & Partnerships and co-founder for a principal amount of $70,183. Interest accrues at 5% simple interest per annum and matures on August 1, 2027 when all principal and interest are due. There are no required payments prior to maturity.

On January 12, 2023 the Company signed a promissory note with its Director of Community Development & Philanthropy and co-founder for a principal amount of $1,200. Interest accrues at 5% simple interest per annum and matures on August 1, 2027 when all principal and interest are due. There are no required payments prior to maturity.

#### (S) The Company's Financial Condition

Forecasted milestones

The Honeybee Collective forecasts the following milestones:

- Sell $3.4 million in licensed products within one year of launch in New York
- Secure licensing agreement in 1 to 3 additional states in 2023

Notes to the Financial Statements

1. Summary of significant accounting policies a. Nature of operations

Honeybee Collective LLC (the Company) is a cannabis branding, marketing, and sales company.

The Company develops cannabis brands & products that it licenses to manufacturers in exchange for a royalty. Its signature brand, The Honeybee Collective, is currently distributed in 22 dispensaries in Colorado. The Company also brokers sales of other brands' cannabis products in exchange for a commission. The Company currently represents three clients in a brokerage capacity. The Company offers marketing services to companies in the cannabis space. The Company does not have any active marketing clients.

b. Basis of accounting

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The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification. The financial statements have been prepared on the accrual basis of accounting.

c. Use of estimates

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

d. Fair value measurements

Generally accepted accounting principles define fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price) and such principles also establish a fair value hierarchy that prioritizes the inputs used to measure fair value using the following definitions (from highest to lowest priority):

See independent accountant’s review report. The accompanying notes are an integral part of these financial statements.

• Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

• Level 2 - Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.

• Level 3 - Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable.

The fair values of assets approximate their carrying value due to the relatively short periods to maturity.

e. Income taxes

The Company is a limited liability company taxed as a pass through entity. The accompanying financials statements do not include a provision, benefit, liability, or refund receivable for federal and state income taxes because the members are taxed individually on their share of the limited liability company earnings.

f. Cash and cash equivalents

Cash and cash equivalents includes deposits at financial institutions.

g. Receivables

Under the terms of the Company’s intellectual property licensing contract, the Company is paid a

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Royalty that is due 15 days after the Licensee collects payment for the sale of The Honeybee Collective branded products. The licensee collects payment for product sales on terms ranging from COD to Net 90, with an average term agreement of 27 days. As a result, the Company typically expects Royalty payments around 45 days after the sale of its branded products.

The Company is paid a commission for brokerage services that is due on the 15th day of the month after a sale is completed.

See independent accountant’s review report. The accompanying notes are an integral part of these financial statements.

The Company charges a monthly retainer for marketing services that is due on the first day of the month prior to the commencement of services.

The Company recognizes payments due as bad debt when payments are 90+ days past due.

#### h. Revenue recognition

ASC Topic 606, “Revenue from Contracts with Customers” establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services.

The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: 1) identify the contract with a customer; 2) identify the performance obligations in the contract; 3) determine the transaction price; 4) allocate the transaction price to performance obligations in the contract; and 5) recognize revenue as the performance obligation is satisfied.

The Company recognizes revenue when it receives payment for royalties and services.

#### i. Comprehensive income

The Company does not have any comprehensive income items other than net income.

#### 2. Revenue sharing notes

During 2022, the Company participated in a crowdfunding raise through MainVest, Inc., a licensed Funding Portal that offers investments under Regulation Crowdfunding. The total crowdfunding raise totaled $241,105 in the form of unsecured debt with a payback that is tied to a revenue share rate of 3% and a maturity date of 1/1/2027.

During 2022, the Company received draws on the amount raised totaling $232,005, net of debt issuance costs of $9,100.

See independent accountant’s review report. The accompanying notes are an integral part of these financial statements.

Debt issuance costs are recorded as a deduction of the debt liability and amortized as interest expense over the life of the revenue sharing note.

#### 3. Related party transactions

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On August 1, 2021 the Company signed a promissory note with its Director or Revenue & Partnerships and co-founder for a principal amount of $70,183. Interest accrues at 5% simple interest per annum and matures on August 1, 2027 when all principal and interest are due. There are no required payments prior to maturity.

On January 12, 2023 the Company signed a promissory note with its Director of Community Development & Philanthropy and co-founder for a principal amount of $1,200. Interest accrues at 5% simple interest per annum and matures on August 1, 2027 when all principal and interest are due. There are no required payments prior to maturity.

#### 4. Commitments and contingencies

The Company is not currently involved with and does not know of any pending or threatening litigation against the Company.

#### 5. Going concern

These financial statements have been prepared on a going concern basis which contemplates the realization of assets and the payment of liabilities in the ordinary course of business. As shown in the accompanying financial statements, the Company has operated at a loss and relied on debt to finance its operations. Those factors and conditions create a substantial doubt about the Company's ability to continue as a going concern for the year following the date the financial statements are available to be issued. Management of the Company has evaluated these conditions and has proposed a plan to continue to raise funds via a crowdfunding campaign. The ability of the Company to continue as a going concern and meet its obligations as they become due is dependent on management's ability to successfully implement the plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

#### 6. Subsequent events

Management evaluated all activity of the Company through February 13, 2023 (the issuance date of the 11

See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

financial statements) and concluded that no subsequent events have occurred that would require recognition in the financial statements or disclosure in the related notes to the financial statements.

### (T) The Company's Financial Statements

Please see Appendix B for historical financial statements.

#### Pro Forma Income Statement

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

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|  | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
| --- | --- | --- | --- | --- | --- |
| Gross Sales | $340,000 | $640,000 | $1,400,000 | $2,500,000 | $5,000,000 |
| Cost of Goods Sold | $78,000 | $146,823 | $321,175 | $573,526 | $1,147,052 |
| Gross Profit | $262,000 | $493,177 | $1,078,825 | $1,926,474 | $3,852,948 |
| EXPENSES |  |  |  |  |  |
| Salaries | $120,000 | $225,882 | $494,116 | $882,350 | $1,764,700 |
| Insurance | $1,850 | $3,600 | $7,200 | $14,500 | $36,000 |
| Legal & Professional Fees | $85,250 | $18,575 | $45,250 | $47,250 | $50,275 |
| Marketing | $75,000 | $95,275 | $175,550 | $200,575 | $250,000 |
| Operating Profit | $-20,100 | $149,845 | $356,709 | $781,799 | $1,751,973 |

#### (U) Disqualification Events

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

#### Explanation

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

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

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

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

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

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

The Company has raised money using Regulation Crowdfunding before, however, has not been required to file any annual reports.

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

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

# Additional Information Included in the Form C

|  | Most recent fiscal year-end (tax returns) | Prior fiscal year-end (tax returns) |
| --- | --- | --- |
| Total Assets | $0 | $0 |
| Cash & Cash Equivalents | $0 | $0 |
| Accounts Receivable | $0 | $0 |
| Short-term Debt | $0 | $0 |
| Long-term Debt | $0 | $0 |
| Revenues/Sales | $0 | $0 |
| Cost of Goods Sold | $0 | $0 |
| Taxes Paid | $0 | $0 |
| Net Income | $0 | $0 |

Jurisdictions in which the Company intends to offer the securities:

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

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**Attachment 2:** `honeybee2_appxa.pdf`

# APPENDIX A: INVESTMENT RISKS

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CANNABIS IS ILLEGAL UNDER FEDERAL LAW. THIS MEANS THAT THE BUSINESS IS UNDER THREAT OF CRIMINAL LIABILITY AND ASSET FORFEITURE. INVESTORS MAY ALSO BE SUBJECT TO POTENTIAL CRIMINAL PENALTIES.

Because cannabis is federally illegal, investing in cannabis businesses could be found to violate the federal Controlled Substances Act. Not only can investors and company directors or management be indicted under federal law, all of the assets they contribute to a cannabis business (and even to an ancillary cannabis business), including real property, cash, equipment and other goods, could be subject to asset forfeiture because cannabis is still federally illegal.

There are conflicts in Federal and State regulations related to cannabis.

Federal regulation and enforcement may adversely affect the implementation of adult use/medical Cannabis laws and regulations may negatively impact our revenues and profits. The state laws conflict with the federal Controlled Substances Act, which makes cannabis use and possession illegal on a national level. If the federal government determines that such laws should be enforced strictly, it could cause significant financial damage to the Company and its shareholders.

Again, cannabis remains illegal under federal law. It is a Schedule I controlled substance. Even in those jurisdictions in which the use of medical cannabis has been legalized at the state level, its prescription is a violation of federal law. The United States Supreme Court has ruled in *United States v. Oakland Cannabis Buyers' Coop. and Gonzales v. Raich* that the federal government that has the right to regulate and criminalize cannabis, even for medical purposes. Therefore, Federal law criminalizing the use of cannabis trumps state laws that legalize its use for medicinal purposes. At present, the states are maintaining existing laws and passing new ones in this area. A change in the federal attitude towards enforcement could have a negative effect on the industry, potentially ending it entirely. Laws and regulations affecting the cannabis industry are constantly changing, which could detrimentally affect our proposed operations. Local, state, and federal cannabis laws and regulations are broad in scope and subject to evolving interpretations, which could require us to incur substantial costs associated with compliance or alter our business plan. In addition, violations of these laws, or allegations of such violations, could disrupt our business and result in a material adverse effect on our operations. In addition, it is possible that regulations may be enacted in the future that will be directly applicable to our business. We cannot predict the nature of any future laws, regulations, interpretations, or applications, nor can we determine what effect additional governmental regulations or administrative policies and procedures, when and if promulgated, could have on our business.

#### Banking Difficulties

The cultivation, sale, and use of cannabis are illegal under federal law. Therefore, many banks do not accept for deposit funds from the drug trade and therefore would not be able to do business with the Company. As such, the Company and its wholly owned entities may have trouble finding a bank willing to accept their business. There can be no assurance that banks currently or in the future will decide to do business with cannabis growers or retailers, or that in the absence of legislation state and federal banking regulators will not strictly enforce current prohibitions on banks handling funds generated from an activity that is illegal under federal law. This may make it difficult for the Company to open accounts, use the service of banks and otherwise transact business, which in turn may negatively affect the Company.

Despite rules issued by the United States Department of the Treasury mitigating the risk to banks that do business with cannabis companies permitted under state law, as well as guidance from

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the United States Department of Justice, banks remain wary to accept funds from businesses in the cannabis industry. Since the use of cannabis remains illegal under Federal law, there remains a compelling argument that banks may be in violation of Federal law when accepting for deposit, funds derived from the sale or distribution of cannabis. Consequently, businesses involved in the cannabis industry, including us, continue to have trouble establishing and maintaining banking relationships. An inability to open and maintain bank accounts may make it difficult for us and our customers to do business. In addition, our inability to maintain a bank account has resulted in our holding large sums of cash. Although we store our cash in a secure safe, we are exposed to a greater risk of theft.

#### THERE MAY BE DIFFICULTIES IN ADMINISTERING REPAYMENTS AND REPAYMENT MECHANISMS MAY VARY

Because banks may not be willing to do business with a cannabis entity for the reasons discussed above, any repayments owned under the Revenue Sharing Note will be fully administered by the Company and likely not processed by a financial institution. This means it is unlikely that the Company will be able to provide payments via Automated Clearing House (ACH) transfers, and may need to rely on other sources, such as personal checks and/or third party financial applications. This other sources may subject repayments to additional fees or risks, and will be subject to any applicable terms and conditions. To further clarify, repayments will not be processed by Mainvest or its affiliates. Instead, the Company will be responsible for facilitating all repayments and it is possible the Company may have difficulties in organizing and facilitating these future repayment obligations.

#### YOU MIGHT LOSE YOUR MONEY

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

#### LIMITED SERVICES

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

#### LACK OF ACCOUNTING CONTROLS

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

#### COMPETITION

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

#### RELIANCE ON MANAGEMENT

As a securities holder, you will not be able to participate in The Honeybee Collective's

3

management or vote on and/or influence any managerial decisions regarding The Honeybee Collective. Furthermore, if the founders or other key personnel of The Honeybee Collective were to leave The Honeybee Collective or become unable to work, The Honeybee Collective (and your investment) could suffer substantially.

#### FINANCIAL FORECASTS RISKS

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

#### INABILITY TO SELL YOUR INVESTMENT

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

#### THE COMPANY MIGHT NEED MORE CAPITAL

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

#### CHANGES IN ECONOMIC CONDITIONS COULD HURT THE HONEYBEE COLLECTIVE

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

#### NO REGISTRATION UNDER SECURITIES LAWS

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

4

## INCOMPLETE OFFERING INFORMATION

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

## LACK OF ONGOING INFORMATION

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

## UNINSURED LOSSES

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

## CHANGES IN LAWS

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

## CONFLICT OF INTEREST WITH COMPANIES AND THEIR MANAGEMENT

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

## FUTURE INVESTORS MIGHT HAVE SUPERIOR RIGHTS

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

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

Any company whose securities are listed on a national stock exchange (for example, the New York Stock Exchange) is subject to a number of rules about corporate governance that are

5

intended to protect investors. For example, the major U.S. stock exchanges require listed companies to have an audit committee made up entirely of independent members of the board of directors (i.e., directors with no material outside relationships with The Honeybee Collective or management), which is responsible for monitoring The Honeybee Collective's compliance with the law. The Honeybee Collective will not be required to implement these and other investor protections.

#### YOU DO HAVE A DOWNSIDE

Conversely, if The Honeybee Collective fails to generate enough revenue, you could lose some or all of your money.

#### PAYMENTS AND RETURN ARE UNPREDICTABLE

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

#### LACK OF GUARANTY

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

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

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

#### COVID-19 IMPACT

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

#### LIMITED OPERATING HISTORY

The Honeybee Collective is a newly established entity and has limited history for prospective investors to consider.

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**Attachment 3:** `honeybee2_appxb.pdf`

# Honeybee Collective LLC

Financial Statements and Report

December 31, 2022 and 2021

## Table of Contents

| Independent Accountant's Review Report | 2 |
| --- | --- |
| Balance Sheet | 4 |
| Statement of Income | 5 |
| Statement of Changes in Members' Equity | 6 |
| Statement of Cash Flows | 7 |
| Notes to the Financial Statements | 8 |

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

### Independent Accountant's Review Report

Honeybee Collective LLC Edgewater, CO

We have reviewed the accompanying financial statements of Honeybee Collective LLC (the company), which comprise the balance sheets as of December 31, 2022 and 2021, and the related statements of income, changes in members' equity, and cash flows for the years then ended, and the related notes to the financial statements. A review includes primarily applying analytical procedures to management's financial data and making inquiries of the company's management. A review is substantially less in scope than an audit, the objective of which is the expression of an opinion regarding the financial statements as a whole. Accordingly, we do not express such an opinion.

#### Management's Responsibility for the Financial Statements

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

#### Accountant's Responsibility

Our responsibility is to conduct the review engagements in accordance with *Statements on Standards for Accounting and Review Services* promulgated by the Accounting and Review Services Committee of the AICPA. Those standards require us to perform procedures to obtain limited assurance as a basis for reporting

2

whether we are aware of any material modifications that should be made to the financial statements for them to be in accordance with accounting principles generally accepted in the United States of America. We believe that the results of our procedures provide a reasonable basis for our conclusion.

*We are required to be independent of Honeybee Collective LLC (the Company) and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our reviews.*

### **Accountant's Conclusion**

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

### **Substantial Doubt About the Company's Ability to Continue as a Going Concern**

The accompanying financial statements have been prepared assuming that the company will continue as a going concern. As discussed in Note 5 to the financial statements, the company has operated at a loss and relied on debt to fund operations and has stated that substantial doubt exists about the company's ability to continue as a going concern. Management's evaluation of the events and conditions and management's plans regarding these matters are also described in Note 5. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our conclusion is not modified with respect to this matter.

Philip Debaugh, CPA

OWINGS MILLS, MD February 13, 2023

3

# **Honeybee Collective LLC**  
 **Balance Sheet (Unaudited)**  
 **As of December 31, 2022 and 2021**

|  | Note | 2022 | 2021 |
| --- | --- | --- | --- |
| Assets |  |  |  |
| Current Assets |  |  |  |
| Cash and cash equivalents | 1.f | $92,976 | $ - |
| Receivables | 1.g | 1,150 | - |
| Total Current Assets |  | 94,126 | - |
| Total Assets |  | 94,126 | - |
| Liabilities & Members' Equity |  |  |  |
| Liabilities |  |  |  |
| Noncurrent Liabilities |  |  |  |
| Revenue sharing notes | 2 | 232,005 | - |
| Related party debt, noncurrent | 3 | 71,383 | 71,383 |
| Total Noncurrent Liabilities |  | 303,388 | 71,383 |
| Total Liabilities |  | 303,388 | 71,383 |
| Members' Equity |  |  |  |
| Additional paid-in capital |  | 5,608 | - |
| Accumulated Deficit |  | (214,870) | (71,383) |
| Total Members' Equity |  | (209,262) | (71,383) |
| Total Liabilities & Members' Equity |  | $94,126 | $ - |

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See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

# **Honeybee Collective LLC**  
 Statement of Income (Unaudited)  
 For the years ended December 31, 2022 and 2021

|  | Note | 2022 | 2021 |
| --- | --- | --- | --- |
| Revenues |  | $6,395 | $ - |
| Gross Profit (Loss) |  | 6,395 | - |
| Operating Expenses |  |  |  |
| Salaries, payroll taxes and benefits |  | 64,790 | 19,695 |
| Supplies |  | 45,538 | 32,152 |
| Advertising and promotion |  | 30,964 | 9,045 |
| Legal and other professional fees and services |  | 5,379 | 5,804 |
| Other operating expense |  | 3,211 | 775 |
| Travel |  | - | 3,912 |
| Total Operating Expenses |  | 149,882 | 71,383 |
| Net Income (Loss) |  | $(143,487) | $(71,383) |

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See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

# **Honeybee Collective LLC**  
 Statement of Changes in Members' Equity(Unaudited)  
 For the years ended December 31, 2022 and 2021

|  | Additional Paid-In Capital | Accumulated Deficit | Total Members' Equity |
| --- | --- | --- | --- |
| Balance at January 1, 2021 | - | - | - |
| Net income (loss) | $ - | $(71,383) | $(71,383) |
| Balance at December 31, 2021 | - | (71,383) | (71,383) |
| Net income (loss) | - | (143,487) | (143,487) |
| Owner contributions | 5,608 | - | 5,608 |
| Balance at December 31, 2022 | $5,608 | $(214,870) | $(209,262) |

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See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

# **Honeybee Collective LLC**

# Statement of Cash Flows (Unaudited)

For the years ended December 31, 2022 and 2021

|  | 2022 | 2021 |
| --- | --- | --- |
| Cash Flows |  |  |
| Cash Flows From Operating Activities |  |  |
| Net income (loss) | $(143,487) | $(71,383) |
| (Increase) decrease in operating assets, net of effects of businesses acquired |  |  |
| Accounts receivable | (1,150) | - |
| Net Cash Provided by (Used in) Operating Activities | (144,637) | (71,383) |
| Cash Flows from Financing Activities |  |  |
| Proceeds from issuance of debt | 232,005 | - |
| Proceeds from issuance of related party debt | - | 71,383 |
| Owner contributions | 5,608 | - |
| Net Cash Provided by (Used in) Financing Activities | 237,613 | 71,383 |
| Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash | 92,976 | - |
| Cash, cash equivalents, and restricted cash at beginning of year | - | - |
| Cash, Cash Equivalents, and Restricted Cash at End of Year | $92,976 | $ - |

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See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

# Notes to the Financial Statements

# **Honeybee Collective LLC**  
Notes to the Financial Statements  
For the years ended December 31, 2022 and 2021

# **1. Summary of significant accounting policies**

# **a. Nature of operations**

Honeybee Collective LLC (the Company) is a cannabis branding, marketing, and sales company.

The Company develops cannabis brands & products that it licenses to manufacturers in exchange for a royalty. Its signature brand, The Honeybee Collective, is currently distributed in 22 dispensaries in Colorado. The Company also brokers sales of other brands' cannabis products in exchange for a commission. The Company currently represents three clients in a brokerage capacity. The Company offers marketing services to companies in the cannabis space. The Company does not have any active marketing clients.

# **b. Basis of accounting**

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ('GAAP') as detailed in the Financial Accounting Standards Board's Accounting Standards Codification. The financial statements have been prepared on the accrual basis of accounting.

# **c. Use of estimates**

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

# **d. Fair value measurements**

Generally accepted accounting principles define fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price) and such principles also establish a fair value hierarchy that prioritizes the inputs used to measure fair value using the following definitions (from highest to lowest priority):

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See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

# **Honeybee Collective LLC**
Notes to the Financial Statements
For the years ended December 31, 2022 and 2021

- Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.
- Level 2 - Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.
- Level 3 - Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable.

The fair values of assets approximate their carrying value due to the relatively short periods to maturity.

**e. Income taxes**

The Company is a limited liability company taxed as a pass through entity. The accompanying financial statements do not include a provision, benefit, liability, or refund receivable for federal and state income taxes because the members are taxed individually on their share of the limited liability company earnings.

**f. Cash and cash equivalents**

Cash and cash equivalents includes deposits at financial institutions.

**g. Receivables**

Under the terms of the Company's intellectual property licensing contract, the Company is paid a Royalty that is due 15 days after the Licensee collects payment for the sale of The Honeybee Collective branded products. The licensee collects payment for product sales on terms ranging from COD to Net 90, with an average term agreement of 27 days. As a result, the Company typically expects Royalty payments around 45 days after the sale of its branded products.

The Company is paid a commission for brokerage services that is due on the 15th day of the month after a sale is completed.

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See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

# **Honeybee Collective LLC**  
Notes to the Financial Statements  
For the years ended December 31, 2022 and 2021

The Company charges a monthly retainer for marketing services that is due on the first day of the month prior to the commencement of services.

The Company recognizes payments due as bad debt when payments are 90+ days past due.

# **h. Revenue recognition**

ASC Topic 606, 'Revenue from Contracts with Customers' establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers. Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services.

The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: 1) identify the contract with a customer; 2) identify the performance obligations in the contract; 3) determine the transaction price; 4) allocate the transaction price to performance obligations in the contract; and 5) recognize revenue as the performance obligation is satisfied.

The Company recognizes revenue when it receives payment for royalties and services.

# **i. Comprehensive income**

The Company does not have any comprehensive income items other than net income.

# **2. Revenue sharing notes**

During 2022, the Company participated in a crowdfunding raise through MainVest, Inc., a licensed Funding Portal that offers investments under Regulation Crowdfunding. The total crowdfunding raise totaled $241,105 in the form of unsecured debt with a payback that is tied to a revenue share rate of 3% and a maturity date of 1/1/2027.

During 2022, the Company received draws on the amount raised totaling $232,005, net of debt issuance costs of $9,100.

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See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

# **Honeybee Collective LLC**  
Notes to the Financial Statements  
For the years ended December 31, 2022 and 2021

Debt issuance costs are recorded as a deduction of the debt liability and amortized as interest expense over the life of the revenue sharing note.

### 3. Related party transactions

On August 1, 2021 the Company signed a promissory note with its Director or Revenue & Partnerships and co-founder for a principal amount of $70,183. Interest accrues at 5% simple interest per annum and matures on August 1, 2027 when all principal and interest are due. There are no required payments prior to maturity.

On January 12, 2023 the Company signed a promissory note with its Director of Community Development & Philanthropy and co-founder for a principal amount of $1,200. Interest accrues at 5% simple interest per annum and matures on August 1, 2027 when all principal and interest are due. There are no required payments prior to maturity.

### 4. Commitments and contingencies

The Company is not currently involved with and does not know of any pending or threatening litigation against the Company.

### 5. Going concern

These financial statements have been prepared on a going concern basis which contemplates the realization of assets and the payment of liabilities in the ordinary course of business. As shown in the accompanying financial statements, the Company has operated at a loss and relied on debt to finance its operations. Those factors and conditions create a substantial doubt about the Company's ability to continue as a going concern for the year following the date the financial statements are available to be issued. Management of the Company has evaluated these conditions and has proposed a plan to continue to raise funds via a crowdfunding campaign. The ability of the Company to continue as a going concern and meet its obligations as they become due is dependent on management's ability to successfully implement the plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

### 6. Subsequent events

Management evaluated all activity of the Company through February 13, 2023 (the issuance date of the

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See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

# **Honeybee Collective LLC**  
Notes to the Financial Statements  
For the years ended December 31, 2022 and 2021

financial statements) and concluded that no subsequent events have occurred that would require recognition in the financial statements or disclosure in the related notes to the financial statements.

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See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

**Attachment 4:** `honeybee2_safeagmt.pdf`

THIS INSTRUMENT HAS BEEN ISSUED PURSUANT TO SECTION 4(A)(6) OF THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND NEITHER IT NOR ANY SECURITIES ISSUABLE PURSUANT HERETO HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES MAY NOT BE OFFERED, SOLD, OR OTHERWISE TRANSFERRED, PLEDGED, OR HYPOTHECATED EXCEPT AS PERMITTED BY RULE 501 OF REGULATION CROWDFUNDING UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR EXEMPTION THEREFROM.

IF THE INVESTOR LIVES OUTSIDE THE UNITED STATES, IT IS THE INVESTOR’S RESPONSIBILITY TO FULLY OBSERVE THE LAWS OF ANY RELEVANT TERRITORY OR JURISDICTION OUTSIDE THE UNITED STATES IN CONNECTION WITH ANY PURCHASE OF THE SECURITIES, INCLUDING OBTAINING REQUIRED GOVERNMENTAL OR OTHER CONSENTS OR OBSERVING ANY OTHER REQUIRED LEGAL OR OTHER FORMALITIES. THE COMPANY RESERVES THE RIGHT TO DENY THE PURCHASE OF THE SECURITIES BY ANY FOREIGN PURCHASER.

# **Honeybee Collective, LLC**

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

# **Series 2023**

THIS CERTIFIES THAT in exchange for the payment by [Investor Name] (the “Investor”, and together with all other Series 2019 Crowd SAFE holders, “Investors”) of $[_______] (the “Purchase Amount”) on or about [Date of Crowd SAFE], Honeybee Collective, LLC, a Colorado limited liability company (the “Company”), hereby issues to the Investor the right to certain Class B Units of the Company’s Membership Interest (defined below), subject to the terms set forth below.

The “Valuation Cap” is $5,000,000.

See Section 2 for certain additional defined terms.

# **1. Events**

# **(a) Equity Financing.**

(i) If an Equity Financing occurs before this instrument terminates in accordance with Sections 1(b)-(d) (“First Equity Financing”), the Company shall notify the Investor of the closing of the First Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd SAFE without converting the Purchase Amount to Membership Interest; or (2) issue to the Investor a number of units of the CF Shadow Units of the Membership Interest (whether Class B Units or another class issued by the Company) sold in the

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First Equity Financing. The number of units of the CF Shadow Units of such Membership Interest shall equal (a) if the pre-money valuation of the Company is less than or equal to the Valuation Cap, the quotient obtained by dividing (x) the Purchase Amount by (y) the applicable Conversion Price (such applicable Conversion Price, the “First Equity Financing Price”); or (b) if the pre-money valuation of the Company is greater than the Valuation Cap, the quotient obtained by dividing the Purchase Amount by the SAFE Price (either the Conversion Price or the SAFE Price, as applicable, the “**First Equity Financing Price**”).

(ii) If the Company elects to continue the term of this Crowd SAFE past the First Equity Financing and another Equity Financing occurs before the termination of this Crowd SAFE in accordance with Sections 1(b)-(d) (each, a “**Subsequent Equity Financing**”), the Company shall notify the Investor of the closing of the Subsequent Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd SAFE without converting the Investor’s Purchase Amount to Membership Interest; or (2) issue to the Investor a number of shares of the CF Shadow Units of the Membership Interest (whether Class B Units or another class issued by the Company) sold in the Subsequent Equity Financing. The number of shares of the CF Shadow Units of such Membership Interest shall equal the quotient obtained by dividing (x) the Purchase Amount by (y) the First Equity Financing Price.

# (b) **Liquidity Event.**

(i) If there is a Liquidity Event before the termination of this instrument and before any Equity Financing, the Investor will, at its option, either (i) receive a cash payment equal to the Purchase Amount (subject to the following paragraph) or (ii) automatically receive from the Company a number of units of Membership Interest equal to the Purchase Amount divided by the Liquidity Price, if the Investor fails to select the cash option. In connection with this Section 1(b)(i), the Purchase Amount will be due and payable by the Company to the Investor immediately prior to, or concurrent with, the consummation of the Liquidity Event. If there are not enough funds to pay the Investor and holders of other Crowd SAFEs (collectively, the “**Cash-Out Investors**”) in full, then all of the Company’s available funds will be distributed with equal priority and pro rata among the Cash-Out Investors in proportion to their Purchase Amounts.

(ii) If there is a Liquidity Event after one or more Equity Financings have occurred but before the termination of this instrument, the Investor will, at its option, either (i) receive a cash payment equal to the Purchase Amount (as described in the foregoing paragraph) or (ii) automatically receive from the Company a number of units of the most recently issued Membership Interest (whether Class B Units or another class issued by the Company) equal to the Purchase Amount divided by the First Equity Financing Price, if the Investor fails to select the cash option. Units of Membership Interest granted in connection therewith shall have the same liquidation rights and preferences as the units of Membership Interest issued in connection with the Company’s most recent Equity Financing.

(c) **Dissolution Event.** If there is a Dissolution Event before this instrument terminates in accordance with Sections 1(a) or 1(b), subject to the preferences applicable to any class of Membership Interest, the Company will distribute its entire assets legally available for distribution with equal priority among the (i) Investors (on an as converted basis based on a valuation of

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Membership Interest as determined in good faith by the Company’s Managers at the time of Dissolution Event); (ii) all other holders of instruments sharing in the assets of the Company at the same priority as holders of Membership Interest upon a Dissolution Event; and (iii) all holders of Membership Interest.

(d) **Termination.** This instrument will terminate (without relieving the Company or the Investor of any obligations arising from a prior breach of or non-compliance with this instrument) upon the earlier to occur: (i) the issuance of CF Shadow Units to the Investor pursuant to Section 1(a) or Section 1(b); or (ii) the payment, or setting aside for payment, of amounts due to the Investor pursuant to Sections 1(b) or 1(c).

## 2. *Definitions*

“**CF Shadow Units**” shall mean units of Membership Interest that are identical in all respects to the units of Membership Interest (whether Class B or another class issued by the Company) issued in the relevant Equity Financing (e.g., if the Company sells Class B Units in an Equity Financing, the CF Shadow Units would be Class B Units), except that:

(i) CF Shadow Units holders shall have no voting rights and shall not be entitled to vote on any matter that is submitted to a vote or for the consent of the Members of the Company;

(ii) Each of the CF Shadow Units holders shall enter into a proxy agreement, in the form of Exhibit A attached hereto, appointing the Intermediary as its irrevocable proxy with respect to any matter to which CF Shadow Units holders are entitled to vote by law. Entering into such proxy agreement is a condition of receiving CF Shadow Units and such agreement provides that the Intermediary will vote with the majority of the holders of the relevant class of the Company’s Membership Interest on any matters to which the proxy agreement applies; and

(iii) CF Shadow Units holders have no information or inspection rights, except with respect to such rights deemed not waivable by laws.

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

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“Conversion Price” means (i) with respect to a conversion pursuant to Section 1(a), the lowest price per unit of the securities sold in the Equity Financing; and (ii) with respect to a conversion pursuant to Section 1(b), the quotient resulting from dividing (x) the Company’s current valuation immediately prior to the closing of the Liquidity Event by (y) the Fully Diluted Capitalization immediately prior to the closing of the Liquidity Event.

“Dissolution Event” means (i) a voluntary termination of operations; (ii) a general assignment for the benefit of the Company’s creditors; (iii) the commencement of a case (whether voluntary or involuntary) seeking relief under Title 11 of the United States Code (the “Bankruptcy Code”); or (iv) any other liquidation, dissolution, or winding up of the Company (excluding a Liquidity Event), whether voluntary or involuntary.

“Equity Financing” shall mean the next sale (or series of related sales) by the Company of its Equity Securities to one or more third parties following the date of this instrument from which the Company receives gross proceeds of not less than $1,000,000 cash or cash equivalent (excluding the conversion of any instruments convertible into or exercisable or exchangeable for Membership Interest, such as SAFEs or convertible promissory notes) with the principal purpose of raising capital.

“Equity Securities” shall mean Membership Interest or any securities convertible into, exchangeable for, or conferring the right to purchase (with or without additional consideration) Membership Interest, except in each case, (i) any security granted, issued, and/or sold by the Company to any director, officer, employee, advisor, or consultant of the Company in such capacity for the primary purpose of soliciting or retaining his, her, or its services, (ii) any convertible promissory notes issued by the Company, and (iii) any SAFEs issued.

“Federal Cannabis Laws” shall mean any U.S. federal laws, civil, criminal, or otherwise, as such relate, either directly or indirectly, to the cultivation, harvesting, production, distribution, sale, and possession of cannabis, marijuana, or related substances or products containing or relating to the same, including, without limitation, the Controlled Substances Act, 21 U.S.C. ch. 13; the prohibition on drug trafficking under 21 U.S.C. § 841(a), *et seq.*; the conspiracy statute under 18 U.S.C. § 846; the prohibition on aiding and abetting the conduct of an offense under 18 U.S.C. § 4; the prohibition on being an accessory after the fact to criminal conduct under 18 U.S.C. § 3; federal money laundering statutes under 18 U.S.C. §§ 1956, 1957, and 1960; and the regulations and rules promulgated under any of the foregoing.

“Fully Diluted Capitalization” shall mean the aggregate number of issued and outstanding units of Membership Interest, assuming full conversion or exercise of all convertible and exercisable securities then outstanding, including shares of convertible Class A Units and all outstanding vested or unvested options or warrants to purchase Membership Interest, but excluding (i) the issuance of all units of Membership Interest reserved and available for future issuance under any of the Company’s existing equity incentive plans, (ii) convertible promissory notes issued by the Company, (iii) any SAFEs, and (iv) any equity securities that are issuable upon conversion of any outstanding convertible promissory notes or SAFEs.

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“**Liquidity Capitalization**” means the number, as of immediately prior to the Liquidity Event, of units of the Membership Interest (on an as-converted basis) outstanding, assuming exercise or conversion of all outstanding vested and unvested options, warrants and other convertible securities, but excluding: (i) units of Membership Interest reserved and available for future grant under any equity incentive or similar plan; (ii) any SAFEs; and (iii) convertible promissory notes.

“**Liquidity Event**” means a Change of Control.

“**Liquidity Price**” means the price per unit equal to the Valuation Cap divided by the Liquidity Capitalization.

“**Regulation CF**” means Regulation Crowdfunding promulgated under the Securities Act.

“**SAFE**” means any simple agreement for future equity (or other similar agreement), including a Crowd SAFE, which is issued by the Company for bona fide financing purposes and which may convert into Membership Interest in accordance with its terms.

“**SAFE Price**” means the price per unit equal to the Valuation Cap divided by the Fully Diluted Capitalization.

Any terms capitalized herein that are not defined here shall have the meaning provided in the Company’s Operating Agreement.

### 3. *Company Representations*

(a) The Company is a limited liability company duly organized, validly existing, and in good standing under the laws of the state of its organization, and has the power and authority to own, lease, and operate its properties and carry on its business as now conducted.

(b) The execution, delivery, and performance by the Company of this instrument is within the power of the Company and, other than with respect to the actions to be taken when equity is to be issued to the Investor, has been duly authorized by all necessary actions on the part of the Company. This instrument constitutes a legal, valid, and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as limited by bankruptcy, insolvency, or other laws of general application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity. To the knowledge of the Company, it is not in violation of (i) its current Operating Agreement; (ii) any material statute, rule, or regulation applicable to the Company, excluding Federal Cannabis Laws; or (iii) any material indenture or contract to which the Company is a party or by which it is bound, where, in each case, such violation or default, individually, or together with all such violations or defaults, could reasonably be expected to have a material adverse effect on the Company.

(c) The performance and consummation of the transactions contemplated by this instrument do not and will not: (i) violate any material judgment, statute, rule or regulation applicable to the Company, excluding Federal Cannabis Laws; (ii) result in the acceleration of any

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material indenture or contract to which the Company is a party or by which it is bound; or (iii) result in the creation or imposition of any lien upon any property, asset, or revenue of the Company or the suspension, forfeiture, or nonrenewal of any material permit, license, or authorization applicable to the Company, its business, or operations.

(d) No consents or approvals are required in connection with the performance of this instrument, other than: (i) the Company’s managerial approvals; (ii) any qualifications or filings under applicable securities laws; and (iii) necessary managerial approvals for the authorization of shares of CF Shadow Units issuable pursuant to Section 1.

(e) The Company shall, prior to the conversion of this instrument, reserve from its authorized but unissued units of Membership Interest for issuance and delivery upon the conversion of this instrument, such number of units of the Membership Interest as necessary to effect the conversion contemplated by this instrument, and, from time to time, will take all steps necessary to amend its Operating Agreement to provide sufficient authorized numbers of units of the Membership Interest issuable upon the conversion of this instrument. All such units shall be duly authorized, and when issued upon any such conversion, shall be validly issued; fully paid; and non-assessable, free and clear of all liens, security interests, charges, and other encumbrances or restrictions on sale and free and clear of all preemptive rights, except encumbrances or restrictions arising under federal or state securities laws.

(f) The Company is (i) not required to file reports pursuant to §§ 13 or 15(d) of the Securities Exchange Act of 1934 (the “Exchange Act”); (ii) not an investment company as defined in § 3 of the Investment Company Act of 1940, and is not excluded from the definition of investment company by §§ 3(b) or 3(c) of such act; (iii) not disqualified from selling securities under Rule 503(a) of Regulation CF; (iv) not barred from selling securities under § 4(a)(6) of the Securities Act due to a failure to make timely annual report filings; (vi) not planning to engage in a merger or acquisition with an unidentified company or companies; and (vii) organized under, and subject to, the laws of a state or territory of the U.S. or the District of Columbia.

#### **4. Investor Representations**

(a) The Investor has full legal capacity, power, and authority to execute and deliver this instrument and to perform its obligations hereunder. This instrument constitutes a valid and binding obligation of the Investor, enforceable in accordance with its terms, except as limited by bankruptcy, insolvency, or other laws of general application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity.

(b) The Investor has been advised that this instrument and the underlying securities have not been registered under the Securities Act or any state securities laws and are offered and sold hereby pursuant to § 4(a)(6) of the Securities Act. The Investor understands that neither this instrument nor the underlying securities may be resold or otherwise transferred unless they are registered under the Securities Act and applicable state securities laws or pursuant to Rule 501 of Regulation CF, in which case certain state transfer restrictions may apply.

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(c) The Investor is purchasing this instrument and the securities to be acquired by the Investor hereunder for its own account for investment, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and the Investor has no present intention of selling, granting any participation in, or otherwise distributing the same. Each Investor understands that the securities have not been, and will not be, registered under the Securities Act or any state securities laws, by reason of specific exemptions under the provisions thereof which depend upon, among other things, the bona fide nature of the investment intent and the accuracy of each Investor’s representations as expressed herein.

(d) The Investor acknowledges, and is purchasing this instrument in compliance with, the investment limitations set forth in Rule 100(a)(2) of Regulation CF, promulgated under § 4(a)(6)(B) of the Securities Act.

(e) The Investor acknowledges that the Investor has received all the information the Investor has requested from the Company and the Investor considers necessary or appropriate for deciding whether to acquire this instrument and the underlying securities, and the Investor represents that the Investor has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of this instrument and the underlying securities and to obtain any additional information necessary to verify the accuracy of the information given to the Investor. In deciding to purchase this instrument, the Investor is not relying on the advice or recommendations of the Company or of Mainvest, Inc. and the Investor has made its own independent decision that an investment in this instrument and the underlying securities is suitable and appropriate for the Investor. The Investor understands that no federal or state agency has passed upon the merits or risks of an investment in this instrument and the underlying securities or made any finding or determination concerning the fairness or advisability of this investment.

(f) The Investor understands and acknowledges that as a Crowd SAFE investor, the Investor shall have no voting, information, or inspection rights, aside from any disclosure requirements the Company is required to make under relevant securities regulations.

(g) The Investor understands that no public market now exists for any of the securities issued by the Company, and that the Company has made no assurances that a public market will ever exist for this instrument and the securities to be acquired by the Investor hereunder.

(h) If the Investor is not a U.S. person (as defined by § 7701(a)(30) of the Internal Revenue Code of 1986, as amended), the 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 this instrument, including (a) the legal requirements within its jurisdiction for the purchase of this instrument; (b) any foreign exchange restrictions applicable to such purchase; (c) any governmental or other consents that may need to be obtained; and (d) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, conversion, redemption, sale, or transfer of this instrument. The Investor’s subscription and payment for and continued beneficial ownership of this instrument and the underlying securities will not violate any applicable securities or other laws of the Investor’s jurisdiction, excluding Federal Cannabis Laws. The Investor acknowledges that the Company has taken no action in foreign jurisdictions with respect to this instrument and the underlying securities.

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(i) Each Investor further acknowledges that it has read, understood, and had ample opportunity to ask Company questions about its business plans, “Risk Factors,” and all other information presented in the Company’s Form C and the offering documentation filed with the SEC.

(j) Each Investor represents that the Investor understands the substantial likelihood that the Investor will suffer a **TOTAL LOSS** of all capital invested, and that Investor is prepared to bear the risk of such total loss.

### 5. *Transfer Restrictions.*

(a) The Investor hereby agrees that it will not, without the prior written consent of the managing underwriter: (A) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell; grant any option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any units of Membership Interest or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Membership Interest (whether such units or any such securities are then owned by the Investor or are thereafter acquired); or (B) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities; whether any such transaction described in clause (A) or (B) above is to be settled by delivery of Membership Interest or other securities, in cash, or otherwise.

(b) The foregoing provisions of Section 5(a) will: (x) not apply to the transfer of any units to any trust for the direct or indirect benefit of the Investor or the immediate family of the Investor, provided that the trustee of the trust agrees to be bound in writing by the restrictions set forth herein, and provided further that any such transfer will not involve a disposition for value; and (y) be applicable to the Investor only if all managers of the Company are subject to the same restrictions and the Company uses commercially reasonable efforts to obtain a similar agreement from all members individually owning more than 5% of the outstanding Membership Interest or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Membership Interest.

(c) Without in any way limiting the representations and warranties set forth in Section 4 above, the Investor further agrees not to make any disposition of all or any portion of this instrument or the underlying securities unless and until the transferee has agreed in writing for the benefit of the Company to make the representations and warranties set out in Section 4 and the undertaking set out in Section 5(a) and:

(i) There is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or

(ii) The Investor shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition and, if reasonably requested by the Company, the Investor shall have

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furnished the Company with an opinion of counsel reasonably satisfactory to the Company that such disposition will not require registration of such shares under the Securities Act.

(d) The Investor agrees that it shall not make any disposition of this instrument or any underlying securities to any of the Company’s competitors, as determined by the Company in good faith.

(e) The Investor understands and agrees that the Company will place the legend set forth below or a similar legend on any book entry or other forms of notation evidencing this Crowd SAFE and any certificates evidencing the underlying securities, together with any other legends that may be required by state or federal securities laws, the Company’s operating agreement, any other agreement between the Investor and the Company or any agreement between the Investor and any third party:

THIS INSTRUMENT HAS BEEN ISSUED PURSUANT TO SECTION 4(A)(6) OF THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND NEITHER IT NOR ANY SECURITIES ISSUABLE PURSUANT HERETO HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES MAY NOT BE OFFERED, SOLD, OR OTHERWISE TRANSFERRED, PLEDGED, OR HYPOTHECATED EXCEPT AS PERMITTED BY RULE 501 OF REGULATION CROWDFUNDING UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR EXEMPTION THEREFROM.

## 6. *Miscellaneous*

(a) The Investor agrees to take any and all actions determined in good faith by the Company’s managers to be advisable to reorganize this instrument and any units of Membership Interest issued pursuant to the terms of this instrument into a special purpose vehicle or other entity designed to aggregate the interests of holders of Crowd SAFEs.

(b) Any provision of this instrument may be amended, waived, or modified only upon the written consent of either (i) the Company and the Investor, or (ii) the Company and the majority of the Investors (calculated based on the Purchase Amount of each Investors Crowd SAFE).

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

(d) The Investor is not entitled, as a holder of this instrument, to vote or receive distributions or be deemed the holder of Membership Interest for any purpose, nor will anything contained herein be construed to confer on the Investor, as such, any of the rights of a member of the Company or any right to vote for the election of managers or upon any matter submitted to

01350759-1

9

members at any meeting thereof, or to give or withhold consent to any company action or to receive notice of meetings, or to receive subscription rights or otherwise until units have been issued upon the terms described herein.

(e) Neither this instrument nor the rights contained herein may be assigned, by operation of law or otherwise, by either party without the prior written consent of the other; *provided, however*, that this instrument and/or the rights contained herein may be assigned without the Company’s consent by the Investor to any other entity who directly or indirectly, controls, is controlled by, or is under common control with the Investor, including, without limitation, any general partner, managing member, officer, or director of the Investor, or any venture capital fund now or hereafter existing which is controlled by one or more general partners or managing members of, or shares the same management company with, the Investor; and *provided, further*, that the Company may assign this instrument in whole, without the consent of the Investor, in connection with a reorganization to change the Company’s domicile.

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

(g) All securities issued under this instrument may be issued in whole or fractional parts.

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

(i) Any dispute, controversy, or claim arising out of, relating to, or in connection with this instrument, including the breach or validity thereof, shall be determined by final and binding arbitration administered by the American Arbitration Association (the “AAA”) under its Commercial Arbitration Rules and Mediation Procedures (“**Commercial Rules**”). The award rendered by the arbitrator shall be final, non-appealable, and binding on the parties and may be entered and enforced in any court having jurisdiction. There shall be one arbitrator agreed to by the parties within twenty (20) days of receipt by respondent of the request for arbitration or, in default thereof, appointed by the AAA in accordance with its Commercial Rules. The place of arbitration shall be Denver, Colorado. Except as may be required by law or to protect a legal right, neither a party nor the arbitrator may disclose the existence, content, or results of any arbitration without the prior written consent of the other parties.

*(Signature page follows)*

01350759-1

10

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

**Honeybee Collective LLC**

By: ________________________________________________________________________

Name: Chris Becker ________________________________________________________

Title: Manager ____________________________________________________________

Address: 2255 Sheridan Blvd, Unit C258, Englewood, CO 80214

Date: ______________________________________________________________________

Email: chris@honeybeecollective.com ____________________________________

**INVESTOR:**

By: ________________________________________________________________________

Name: ______________________________________________________________________

Title: ______________________________________________________________________

Address: _________________________________________________________________

Date: ______________________________________________________________________

Email: _____________________________________________________________________

01350759-1

11

# Exhibit A - CF Shadow Units Proxy

## Irrevocable Proxy

Reference is hereby made to a certain Crowdfunding Simple Agreement for Future Equity (the “*Crowd SAFE*”) dated [date] between Honeybee Collective LLC, a Colorado limited liability company (the “*Company*”) and [investor name] (“*Member*”). In connection with a conversion of Member’s investment in the Crowd SAFE into Membership Interest of CF Shadow Units (as defined in the Crowd SAFE) pursuant to the Crowd SAFE, the Member and Mainvest, Inc. (the “*Intermediary*”) as another holder of Membership Interest of CF Shadow Units hereby agree as follows:

### 1. Grant of Irrevocable Proxy.

a. With respect to all of the units of Membership Interest of CF Shadow Units owned by the Member as of the date of this Irrevocable Proxy or any subsequent date (the “*Units*”), Member hereby grants to Intermediary an irrevocable proxy under C.R.S. § 7-80-706(2) to vote the Units in any manner that the Intermediary may determine in its sole and absolute discretion. For the avoidance of doubt, the Intermediary, as the holder (“*Holder*”) of the irrevocable proxy (rather than the Member) will vote the Units with respect to all member meetings and other actions (including actions by written consent in lieu of a meeting) on which holders of Units may be entitled to vote. The Intermediary hereby agrees to vote all Units consistently with the majority of the class of Membership Interest on which the CF Shadow Units is based. This proxy revokes any other proxy granted by the Member at any time with respect to the Units.

b. The Intermediary shall have no duty, liability, or obligation whatsoever to the Member arising out of the Intermediary’s exercise of this irrevocable proxy. The Member expressly acknowledges and agrees that (i) the Member will not impede the exercise of the Intermediary’s rights under this irrevocable proxy and (ii) the Member waives and relinquishes any claim, right, or action the Member might have, as a member of the Company or otherwise, against the Intermediary or any of its affiliates or agents (including any directors, officers, managers, members, and employees) in connection with any exercise of the irrevocable proxy granted hereunder.

c. This irrevocable proxy shall expire as to those Units on the earlier of (i) the date that such Units are converted into Membership Units, other than CF Shadow Units, of the Company or (ii) the date that such Units are converted to cash or a cash equivalent, but shall continue as to any Units not so converted.

### 2. Legend.

The Member agrees to permit an appropriate legend on certificates evidencing the Units or any transfer books or related documentation of ownership reflecting the grant of the irrevocable proxy contained in the foregoing Section 1.

### 3. Representations and Warranties.

The Member represents and warrants to the Intermediary as follows:

01350759-1

Exhibit A

a. The Member has all the necessary rights, power, and authority to execute, deliver, and perform his, her, or its obligations under this Irrevocable Proxy. This Irrevocable Proxy has been duly executed and delivered by the Member and constitutes such Member's legal and valid obligation enforceable against the Member in accordance with its terms.

b. The Member is the record owner of the Units listed under the name on this Exhibit A, and the Member has plenary voting and dispositive power with respect to such Units; the Member owns no other units of Membership Interest of the Company; there are no proxies, voting trusts, or other agreements or understandings to which such Member is a party or bound by and which expressly require that any of the Units be voted in any specific manner other than pursuant to this Irrevocable Proxy; and the Member has not entered into any agreement or arrangement inconsistent with this Irrevocable Proxy.

**4. Equitable Remedies.** The Member acknowledges that irreparable damage would result if this Irrevocable Proxy is not specifically enforced and that, therefore, the rights and obligations of the Intermediary may be enforced by a decree of specific performance issued by arbitration pursuant to the Crowd SAFE, and appropriate injunctive relief may be applied for and granted in connection therewith. Such remedies shall, however, not be exclusive and shall be in addition to any other remedies that the Intermediary may otherwise have available.

**5. Defined Terms.** All terms defined in this Irrevocable Proxy shall have the meaning defined herein. All other terms will be interpreted in accordance with the Crowd SAFE.

**6. Amendment.** Any provision of this instrument may be amended, waived, or modified only upon the written consent of the (i) the Member and (ii) the Intermediary.

# **7. Assignment.**

a. In the event the Member wishes to transfer, sell, hypothecate, or otherwise assign any Units, the Member hereby agrees to require, as a condition of such action, that the counterparty or counterparties thereto must enter into a proxy agreement with the Intermediary substantially identical to this Irrevocable Proxy.

b. The Intermediary may transfer its rights as Holder under this instrument after giving prior written notice to the Member.

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

01350759-1

*Exhibit A*

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

**INVESTOR:**

By: ____________________

Name: ____________________

Date: ____________________

**INTERMEDIARY:**

**Mainvest, Inc.**

By: ____________________

Name: ____________________

Title: ____________________

Date: ____________________

01350759-1

*Exhibit A*

**Attachment 5:** `honeybee2_vidtrans.pdf`

0:00  
my name is Chalet mirzai I am one of the  
0:02  
co-founders of the honeybee Collective  
0:04  
based in Denver Colorado so I would best  
0:08  
describe the honeybee Collective  
0:10  
um in you know this is how we describe  
0:12  
it on our packaging on our website  
0:14  
um is really our our kind of three main  
0:17  
points of our business are  
0:19  
um employee-owned Community Driven and  
0:22  
sustainable and those are the pillars  
0:24  
that we really stand behind in  
0:25  
everything that we do with the honeybee  
0:27  
Collective whether that's our product  
0:29  
our packaging the way we've structured  
0:32  
the business as an employee-owned  
0:33  
company the way we Source you know  
0:36  
sun-grown cannabis we really strive for  
0:39  
our packaging to be a sustainable  
0:42  
um and recycle endlessly recyclable or  
0:44  
compostable as possible and then  
0:46  
Community Driven really points to how we  
0:49  
reach out to our community to our

0:51  
consumers for feedback on what they're  
0:53  
looking for in a company what they're  
0:55  
looking for in a product where they  
0:56  
might want to find our product  
0:58  
um even our name the honeybee collector  
0:59  
div came from a survey that we put out  
1:02  
to potential new consumers to see you  
1:05  
know what name resonated best with them  
1:07  
and you know they started telling back  
1:08  
the story of what honeybee Collective  
1:10  
means to them so that that became our  
1:12  
name what we're really trying to do with  
1:14  
the honeybee Collective is to fill a gap  
1:17  
that we're seeing in the industry of  
1:19  
creating products for the consumer based  
1:21  
off of what the consumer wants not what  
1:23  
we're just assuming that they want so  
1:25  
you know we've solicited several surveys  
1:28  
to ask for feedback everything from  
1:31  
um you know how they you know what what  
1:33  
size packaging they might want what kind  
1:35  
of products they utilize the most where

1:38  
they're purchasing their products um how  
1:40  
might you know the shopping experience  
1:42  
be made better for them more  
1:44  
approachable more accessible  
1:46  
um so I think that's one of the areas  
1:48  
that makes us unique is that we're  
1:49  
really looking at it from a consumer  
1:50  
driven lens  
1:52  
um we are also really pushing on  
1:54  
sustainability both from a product and a  
1:56  
packaging point of view so we are  
1:58  
sourcing Sun grown cannabis which which  
2:00  
is really great quality but also is a  
2:04  
lot more environmentally friendly to be  
2:05  
growing something Outdoors rather than  
2:07  
indoors with a lot of light and a lot of  
2:10  
um chemicals and things like that  
2:13  
um and then our packaging we really you  
2:15  
know looked for it to be as sustainable  
2:17  
as possible we went with aluminum and  
2:20  
compostable tubes the compostable tubes  
2:23  
we wanted them to be home compostable so

2:25

that anyone could compost them it didn't

2:27

have to be a um a big compostable stream

2:30

that maybe your city doesn't have

2:31

available to you and then aluminum is

2:34

the most recyclable and it's endlessly

2:36

recyclable and it can be thrown into

2:38

most recycling bins at home most

2:40

commercial recycling centers will take

2:42

aluminum so those are a couple of things

2:44

that we we really wanted to aim to have

2:47

in our products because our consumers

2:48

told us that that was really important

2:50

for them was that as they're consuming

2:52

cannabis they want to make sure that

2:53

it's going to be as sustainable as

2:55

possible

**Attachment 6:** `honeybee2_page.pdf`

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Invest in The Honeybee Collective | Cannabis Business in Denver, CO

The Honeybee Collective is not accepting investment.

View investment opportunities on Mainvest

Edit Profile Watch this investment opportunity Share

Women-led Woman-owned Employee-owned

The Honeybee Collective

Cannabis Business

Denver, CO

View Website

Connect with us

The Honeybee Collective previously received $241,800 of investment through Mainvest.

Profile

Data Room

Updates 15

Discussion

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THE PITCH

The Honeybee Collective is seeking investment to expand distribution into New York.

HELP US CHANGE THE WAY BUSINESS IS DONE

We're The Honeybee Collective, a cannabis brand on a mission to create community wealth and a sustainable future.

WHO WE ARE

We started The Honeybee Collective because we all felt like there had to be a better way of doing business, one that respects workers and the environment. That's why we are:

- Employee-owned, for a more equitable future

- Community-driven, for lasting impact

- Sustainable, for a happier planet and people

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

We make sustainable & convenient products for conscious, everyday weed smokers

We Ask

Constant communication with daily weed smokers through surveys, social media, and in person events

We Listen

Seeking to understand exactly what is missing in the market, what makes people happy, and how we can be a part of their everyday routine

We Deliver

Brand & product developed and guided by consumer insights

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

REAL QUOTES FROM REAL PEOPLE

Quotes from May 2021 survey. Illustration by Brian "Box" Brown.

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

The Opportunity

We're raising money to expand distribution into New York

The Honeybee Collective products are currently distributed in 25 licensed Colorado dispensaries, where they are flying off the shelves. Sales are growing 24% month-over-month, with many stores doubling the size of their re-orders. We often get asked "When will you bring The Honeybee

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Collective to (insert state)?" So we're beginning our expansion into New York, which is predicted to be one of the biggest and most important legal weed markets in the world.

New York's legal weed market represents a huge opportunity in terms of culture and brand awareness, in addition to market size (projected to be $4.2 Billion per year by 2027). To quote Axel Bernabe, the chief of staff and senior policy director for the New York Office of Cannabis Management: "We have high tourism, a lot of brand visibility, a lot of money in the state. So whatever we decide to create in New York, whatever our dispensaries decide to carry, is actually going to impact consumption patterns globally."

What does my investment get me?

You're investing in a Crowd SAFE (Simple Agreement for Future Equity). "A Crowd SAFE is an investment contract between investors and companies looking to raise capital. Individuals make investments for the chance to earn a return-in the form of equity in the company or a cash payout-if the company is acquired, goes public, or sells all of its assets." (Republic.com) We've valued the company and its intellectual property at $5,000,000 based on our success in Colorado and our projections for growth in New York and beyond.

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

Tips for navigating The Honeybee Collective's equity portal:

Check out the Data Room tab to review our:

Financial Projections

Risks for Investors

Offering Memorandum

Investor Agreement

If you have any questions please post them in the Discussion tab, or call/ email Chris at 443-420-7489 or chris@honeybeecollective.com

If you decide to invest, enter the amount and hit Invest

Thank you for supporting our mission to create community wealth and a sustainable future

# OUR CUSTOMERS

The Honeybee Collective is for everyday weed smokers who want their purchases to make them feel good inside and out

They care about quality and consistency in their product

They want to buy from a company that aligns with their values

They want to support a company that gives back to the community

They want their voice to matter

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

WE SURVEYED OVER 1200 DAILY WEED SMOKERS AND ASKED:

# OUR PRODUCTS

Quality and convenience for the conscious consumer

Flower grown using natural sunlight and environmentally-friendly practices

Packaging that's endlessly recyclable or home compostable

Products designed for the everyday weed smoker

10% of profits are reinvested back into the communities we operate in

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

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

# Our Business Model

We license our brand and product standards to growers in exchange for a royalty. The Honeybee Collective provides packaging, marketing, and sales services in exchange for that royalty. We help growers sell more products with better profits and lower upfront costs than establishing their own brands.

Customers get consistent product that's been vetted for quality and sustainability

Dispensaries get high-demand, easy to sell products with higher-than-average margins

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Growers get to focus on doing what they do best, growing great weed

# THE TEAM

Sholeh Mirzai

Managing Partner, Product & Brand

Sholeh comes from a consumer packaged goods (CPG) background and has worked on industry and globally leading brands such as The North Face, Under Armour and JanSport. She brings deep expertise in brand strategy, product design, and business intelligence. Sholeh oversees product development and business strategy with a keen eye towards consumer-centricity.

Erin Parkins

Managing Partner, Marketing & Operations

Erin is a career team builder and marketing strategist and has worked in product marketing and sales in EdTech for over a decade. Her management skills, organization, and attention to detail are invaluable to our team and unmatched in the cannabis space. Erin ensures that our business operates efficiently and guides our communications and marketing activities.

Kate Myers, MPH

Managing Partner, Community & Culture

Kate is a thought leader in the community health world. She has significant experience in the non-profit space, both as a fundraiser and a board member at Chaska USA. Kate drives our consumer data collection, community development, and ensures the integrity of our philanthropic partnerships.

Chris Becker

Managing Partner, Revenue & Business Development

Chris has sold cannabis products & services in multiple states for operators such as Kaviar, StarBars, Curio, and Think20 Labs; he prides himself on bringing professionalism to cannabis sales. Chris leads our sales efforts with his natural ability to connect with purchasing managers and budtenders alike, enabling The Honeybee Collective to both open new accounts and drive sell-through in current accounts.

Suehiko Ono

Managing Partner, Legal & Manufacturing

Suehiko is an accomplished leader in the cannabis industry. Suehiko recently joined the New York enterprise, Hepworth Pura, and he is the Founder & former CEO of EOS Farms in Massachusetts, an 11-acre outdoor Adult Use cannabis farm, who led EOS from concept to $250k/ month in wholesale revenues. Suehiko is action-oriented and can accomplish virtually anything he sets out to do. Suehiko has a J.D. from Columbia Law School and is a licensed New York Attorney. His focus at The Honeybee Collective is on sales, product manufacturing (compliance, quality, efficiency & consistency), and distribution.

Morgan Steiker

Managing Partner, Events & Partnerships

Morgan is a music and media specialist with 15 years of experience & relationships in the entertainment industry. At The Honeybee Collective Morgan drives new brand development, in-person event activations, and our New York specific marketing strategy.

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Our Manufacturing Partner

We have partnered with an amazing grower and producer, Hepworth Pura, to manufacture and distribute our products throughout New York. Hepworth Farms is an eighth generation family farm led by sisters by Gail and Amy Hepworth. Their farm grows food in addition to weed, and is renowned for its commitment to environmentally friendly practices. They've teamed up with Pura Cali, a company known for its quality, consistency, and professionalism, to launch products in New York. The combined Hepworth Pura team brings a wealth of operational expertise to the New York market and we are excited to have them as partners.

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

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Deep Dive: Our Brand Pillars

Employee-Owned 🍴 Community-Driven 🍴 Sustainable

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

PLASTIC WASTE IS A HUGE PROBLEM IN THE CANNABIS INDUSTRY

Illustration by Brian "Box" Brown

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PRESS

Employee-Owned Cannabis Collective Crowdfunds To Avoid Wall Street

Some cannabis companies, like Colorado's employee-owned Honeybee Collective, are rethinking traditional funding avenues, opting out of the private equity, going public or venture capital gauntlet and turning to crowdfunding instead.

Honeybee Collective's Cannabis Packaging Takes A Refillable Route

Dieline is a global package design community and showcase of package design inspiration. We cover industry news, sustainable packaging news, design trends, and host our own packaging conferences, package design events, and Dieline packaging design awards.

Meet Honeybee Collective, the consumer-centric cannabis brand creating a buzz in the industry - MJBI

Cannabis news: The latest company creating a buzz in the industry, Honeybee Collective, talks to us about its unique business model.

Updates

FEBRUARY 6TH, 2023

First Repayment & Expansion News

Hi Friends,

Thanks to your support, The Honeybee Collective brand is now distributed in 22 dispensaries in Colorado and we anticipate expanding into two new markets this year! Your investment enabled us to do what many people told us was impossible. Together we're creating a new way of doing business that respects workers and the environment, and we couldn't have done it without you.

This month we'll be sending you your first revenue-sharing check. Checks will be mailed by February 21st so keep an eye on your mailbox.

We've been asked a few times "when will there be another chance to invest in The Honeybee Collective?" We're excited to announce that we're launching another crowdfunding campaign later this month to support our multi-state expansion. This round we're raising equity instead of debt, and as a current debt holder you'll have the option to convert your position to equity to become an owner alongside our employees. More information on the raise will be coming soon.

Looking for other ways to support The Honeybee Collective? Check out the dispensary finder on our website to find your local dispensary stocking The Honeybee Collective. You can now purchase our merch and hemp products on our sister site honeybeecannaco.com. And we always appreciate you liking and sharing our messages on Instagram, Twitter, LinkedIn, and Facebook.

The Honeybee Collective

Sholeh, Andrea, Kate, Erin, and Chris

Investor Exclusive

AUGUST 18TH, 2022

Investors Meeting and Payback Update

Hi Honeybee Investors,

You should have received an email from Mainvest today clarifying some questions around investment payback timing and process. We wanted to follow up with more info to make sure everything is as clear as possible. You will be receiving annual payouts each January based on our revenues and your investment level. Mainvest will be managing the process of payment calculation and the checks will come directly from The Honeybee

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Collective. Our first payout date will be January, 2024 and we will send an update once the checks are in the mail so you can be on the lookout for them.

We will also be hosting our first Investor update meeting this September! We have so much exciting news to share about our distribution, community investments and next steps on The Honeybee Collective journey. Erin, Kate, Sholeh and Chris will be on the call to answer questions, chat and get to know you all. We will host two options for investors to join: Thursday September 22, 6-7pm MST and Friday September 23, 12-1pm MST. Be on the look out for those invites soon. In the meantime, if you have any questions you can submit them here to be answered during our meeting or feel free to reach out to us via email at any time, we love hearing from you.

With Gratitude,

The Honeybee Collective

erin@honeybeecollective.com

kate@honeybeecollective.com

sholeh@honeybeecollective.com

chris@honeybeecollective.com

AUGUST 1ST, 2022

We're Growing! 😊🌱

Hello Honeybee Investors,

The Honeybee Collective has been hard at work since closing our fundraising round with you all. We hired our first full-time employee-owner to lead up sales and business development (you can follow Dre on Instagram here). We also launched our product line on April 21 and are currently available in 7 dispensaries across Colorado including Colorado's first cannabis bar. Make sure to check us out at one of these locations.

We are also excited to announce we are now available through delivery which was a key business goal from our inception. Our full menu can be shopped here and delivered straight to your door if you live in Denver or Aurora, CO.

We also recently hosted our first community fundraising event, Blunts and Bingo Brunch. With the generosity of our community, we raised $1077 that will be used to stock fridges throughout Denver with Denver Community Fridges, and had a great time yelling "BINGO!".

Overall, there has been great reception to our product in the market so far, and we have also been growing our instagram following as well as building our online community, The Hive, through our website. With these launches and increased distribution, we are excited to announce that our investors will start seeing their first repayments at the beginning of 2023.

We know we couldn't have gotten this far without you, and we are honored to have you along for the ride as we continue to grow.

With Gratitude,

The Honeybee Collective

MAY 2ND, 2022

Sold Out & Restocked!

We are thrilled to announce that our initial product drop on 4/21 sold out in just 6 days! World of Weed Dispensary has been restocked with our pre-packaged flower - AND they picked up our newest product: 10 Pack Joints.

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Tell your friends! Having folks ask for The Honeybee Collective by name is a great way to ensure dispensaries continue to stock our products.

Convenient & sharable 10 pack J's from The Honeybee Collective:

Sustainably grown flower

100% recyclable

10% of our profits are reinvested back into the community

For this round of 10 Pack J's we selected 3 strains from a lovely farm in Western Colorado that uses all organic inputs and natural sunlight to grow their plants:

PEACE - Critical Mass

Earthy & skunky

POWERFUL smoke

Perfect for movie night or counting sheep

PAUSE - Gorilla Cookies

Strong aroma with a chocolate palette

Smooth & balanced

Anytime smoke

PARTY - Golden Ticket

Sweet & sour taste & smell

Creative & uplifting energy

Pairs well with big adventures

Thank you all for your support!

- The Honeybee Collective

P.S. Yesterday was International Workers Day & we are honored that Jackie Bryant (Managing Editor at San Diego Magazine) wrote about our business model in her CannaBitch newsletter. Check out the article: Is a better way possible? On May Day we dream of more for cannabis workers.

APRIL 21ST, 2022

Honeybee Collective Limited Launch

Tell everyone you know! The Honeybee Collective is excited to announce that a limited release of our sustainably grown flower will be available beginning this afternoon at World of Weed Dispensary 5433 Quebec St, Commerce City, CO 80022.

On the menu:

5 gram sustainably grown flower tins

40% more flower

100% recyclable/ upcycle-able

10% of profits reinvested back into the community

For this limited release we selected 3 special strains from a high-altitude greenhouse:

PEACE - Bubba Kush

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Piney & earthy aroma

Smooth smoke

Perfect for chilling out & relaxing

PAUSE - GMO

Funky!

Complex flavor profile

Great "anytime" smoke. As in anytime you want to be giggling like the first time you smoked.

PARTY - MAC

Bright and uplifting citrus notes

Tropical flavors on top with an earthy undertone

Mentally stimulating & bursting with energy

Thank you for supporting our mission to create community wealth and a sustainable future! Your investment is creating a cleaner and more equitable cannabis industry.

With Gratitude,

The Honeybee Collective 🍋

Erin, Kate, Sholeh, & Chris

MARCH 6TH, 2022

We Did It!

Thanks to all 203 of our investors, we have hit our fundraising goal! We are so grateful that you have chosen to join us on our mission to build community wealth and a sustainable future within the cannabis industry. 🌍

But this is just the beginning 🍋 With your support we are gearing up to launch our first ever product line here in Colorado this spring and our new website will be going live within the next couple weeks. Please make sure to join The Hive to stay up to date on our progress and take part in our surveys. If you'd like to rep your investment with The Honeybee Collective, you can check out our merch here.

And for those of you that have been patiently awaiting your t-shirts & sweatshirts, they will be going out in the next week.

Thank you again for believing in our mission, we couldn't have done this without you.

🍋❤️🍜,

The Honeybee Collective

FEBRUARY 20TH, 2022

Forbes: "Employee-Owned Cannabis Collective Crowdfunds To Avoid Wall Street"

High Friends,

The Honeybee Collective was featured in Forbes this week!

From the article: "Investing is critical for building community and generational wealth, yet often restricted to accredited investors, who are already wealthy by definition (must have household wealth $1M or above). Crowdfunding is open to all, making it a more equitable approach to investing. For many of our investors, including two of our founders, investing in The Honeybee Collective is their very first investment. Crowdfunding provides a way for people to become familiar with investing and start building wealth no matter their income."

You can read the full article here: https://www.forbes.com/sites/jacquelinebryant/2022/02/17/employee-owned-cannabis-collective-crowdfunds-

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to-avoid-wall-street/?sh=61a4969bceb9

Thanks to our community of 155 investors who have committed $168,150 to date! With your help we're creating a new business model that respects workers and the environment.

We've got 10 days left to raise another $81,850 - You can invest from $100 to $10,000 on our Mainvest campaign page, here:
https://mainvest.com/b/the-honeybee-collective-edgewater

Already invested? Don't forget to Join The Hive and follow us on Instagram to stay up-to-date on fun events, giveaways, and an opportunity to help us determine how 10% of our profits are reinvested back into the community.

Thank you,

The Honeybee Collective

Erin, Sholeh, Kate, & Chris

FEBRUARY 11TH, 2022

Podcasts, Parties and More!

Hello Everyone!

There's only 19 days left to invest in The Honeybee Collective! Here's a quick update on what we've been up to:

First, thank you to the 139 people who have invested with us. Your support for our mission means the world to us.

The Honeybee Collective was recently featured on several podcasts highlighting our mission of employee-ownership, sustainability, and building community wealth. We shouted out our amazing investors and chatted more about why we chose to crowdfund instead of going the traditional investor route. Check out the interviews here:

Send Us Flowers:

https://www.youtube.com/watch?v=75hjAjhKD28

Mile High Sessions:

https://www.instagram.com/p/CZ2CTaZASIW/

Gramp's Place:

https://anchor.fm/gramps-place/episodes/Episode-22---Chris-Becker-of-The-Honeybee-Collective-Joins-Gramps-To-Talk-About-Their-New-Brand--Upcoming-Launch-e1d07du

For those investors patiently waiting for t-shirts and sweatshirts, we wanted to apologize that the global supply chain issue has reared its head and we just found out our order was cancelled with our original vendor. But rest assured, we will be finding a new vendor and shipping those out to you ASAP.

If you're in or near Denver, we will be hosting an investor education party on Saturday, February 26 from 11 am to 2 pm. More details to follow soon - we would love to see you there!

Please continue to share our campaign with your friends and family to help us hit our goal of $250,000, we are only $91,000 away from our goal! https://mainvest.com/b/the-honeybee-collective-edgewater

Thank you,

Chris, Erin, Kate, and Sholeh

JANUARY 30TH, 2022

"Meet Honeybee Collective, the consumer-centric cannabis brand creating a buzz in the industry"

Hi friends,

Exciting news: we've now raised $143,150 from 112 individuals!

The Honeybee Collective was recently profiled by MJ Brand Insights, a prestigious cannabis industry publication. Check out the article here:
https://mjbrandinsights.com/meet-honeybee-collective-the-consumer-centric-cannabis-brand-creating-a-buzz-in-the-industry/

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Want to help us reach out $250,000 campaign goal? Please share our Mainvest page with your friends & family: https://mainvest.com/b/the-honeybee-collective-edgewater

Thank you,

Chris, Erin, Kate, and Sholeh

JANUARY 25TH, 2022

An in-depth discussion w/ Honeybee co-founder Chris Becker

Hi friends,

Thanks to your support, The honeybee Collective has raised $142,150! We're well on our way to reaching our $250,000 campaign goal. Tell your friends to get in before it's too late!

Curious to learn more about The Honeybee Collective? Check out this episode of the Gramps place Podcast featuring one of our co-founders, Chris Becker, discussing our unique business model.

https://open.spotify.com/episode/6q3R88o0NxDuKqxz74bliJ?si=CFf1UnBRSzqVtG_oZ82J-Q

Thank you,

Chris, Erin, Kate, and Sholeh

P.S. Here's a sneak peak of our fully recyclable packaging that your investment helped us secure 🙏

JANUARY 12TH, 2022

Did you hear the news?!?

Thanks to your support, our crowdfunding campaign is breaking records and got featured in several publications! Check out the reporting below from Broccoli Magazine, Green Market Report, Street Insider, Marijuana Moment, Market Screener, and Yahoo Finance.

Want to help us meet our $250k goal? Please share this link with your friends and family and let them know you're making history with us! Since re-opening our investment round on Monday, we've received another $15,600 from 30 investors. There's still time for more investors to participate, but don't delay.

Gratefully,

The Honeybee Collective

Erin, Sholeh, Kate, and Chris

https://www.thebroccolireport.com/p/suing-cbd-and-smelling-garlic

https://www.greenmarketreport.com/the-daily-hit-january-5-2021/

https://www.marijuanamoment.net/federal-cannabis-monopoly-ends-with-dea-approved-harvests-newsletter-january-5-2022/

https://finance.yahoo.com/news/employee-owned-community-wealth-focused-143500207.html

https://www.marketscreener.com/news/latest/Employee-Owned-Community-Wealth-Focused-Cannabis-Startup-Isquo-The-Honeybee-Collective-Raises-10--37472360/

https://www.streetinsider.com/Investor+Brand+Network/CannabisNewsBreaks+%E2%80%93+The+Honeybee+Collective+Breaks+Record+to+Rais

JANUARY 10TH, 2022

Invest in the future of sustainable cannabis

Hi Friends,

We're excited to announce that our record breaking crowdfunding campaign has re-opened & is accepting new investments.

https://mainvest.com/b/the-honeybee-collective-edgewater

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Thanks to everyone who has helped us raise $107,000 of our $250,000 campaign goal. Tell your friends! Your investments broke the record for most money raised in 48 hours on the Mainvest platform & got featured on StreetInsider.com:

https://www.streetinsider.com/Investor+Brand+Network/CannabisNewsBreaks+%E2%80%93+The+Honeybee+Collective+Breaks+Record+to+Raise+

Be on the lookout for more exciting announcements over the coming weeks.

Gratefully,

Chris

DECEMBER 30TH, 2021

Happy New Year!

Our first year as a cannabusiness is coming to a close and we can't help but feel warm and fuzzy inside. Thanks to your support, we're on our way to creating a new kind of cannabis brand: one that deeply listens to its community and acts on their behalf across the business.

This last month has been busy for us: designing and ordering recyclable and compostable packaging, identifying sustainable cannabis grow partners to work with, and raising capital through crowdfunding. We're proudly on track to launch our first products in Colorado this February and we couldn't have done it without you.

Check out a sneak peak of our packaging renderings

For those of you in the $250+ and $500+ investment ranges, we'd love to send out your t-shirts and sweatshirts. Please email sholeh@honeybeecollective.com with your shirt size and mailing address and we'll get those out to you in the new year.

As we head into 2022, we are excited to open our second round of funding starting January 8th with a goal to get to $250K by March 1st. If you weren't able to invest in our first round or have friends who would like to invest, make sure to follow our Mainvest page as we will be relaunching shortly. In the meantime, you can also Join the Hive for more info and follow us on Instagram.

Cheers to a happy and healthy 2022!

With gratitude,

Chris, Erin, Kate & Sholeh

DECEMBER 3RD, 2021

We've hit our minimum!

So what's next?

First, let us express our gratitude to our community for believing in us & our mission. Your supportive comments have warmed our hearts & energized us through this process. Thanks to you, we've now hit our minimum investment target of $100,000 in less than 72 hours!!!

We've had some questions about our maximum investment amount and why we're capped at $107,000...

Crowdfunding laws prevent a company from raising more than $107,000 unless they've been incorporated for at least 6 months. Our 6 month birthday is on January 7th, 2022. On January 8th our investment maximum will increase to $250,000, which is our ultimate goal with this round.

We had NO IDEA that we'd hit our minimum so quickly. We are humbled by your faith in us & filled with excitement for the journey ahead.

For anyone considering making an investment after we've hit our $107,000 current max, you haven't missed your chance. Keep an eye on this page, join the watchlist, and we'll send a reminder on January 8th, 2022 - when our goal will increase to $250,000 and investment opportunities will reopen.

In the meantime, you can Join the Hive on our website and follow us on Instagram to stay updated.

👍 - The Honeybee Collective

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DECEMBER 2ND, 2021

Thank You For Making Us #1! 🍋. 💜

Hello Hive!

We just wanted to send out a very humbling and heartfelt THANK YOU to all our initial investors. Because of you, The Honeybee Collective officially has the highest 48 hour investment raise total in Mainvest's history!

Thank you for believing in our mission to build community wealth and a sustainable future.

-The Honeybee Collective

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

Data Room

Intended Use of Funds

Target Raise

Maximum Raise

Packaging $30,000

Marketing $17,000

Mainvest Compensation $3,000

Total $50,000

Financial Forecasts

Year 1 Year 2 Year 3 Year 4 Year 5

Gross Sales $340,000 $640,000 $1,400,000 $2,500,000 $5,000,000

Cost of Goods Sold $78,000 $146,823 $321,175 $573,526 $1,147,052

Gross Profit $262,000 $493,177 $1,078,825 $1,926,474 $3,852,948

EXPENSES

Salaries $120,000 $225,882 $494,116 $882,350 $1,764,700

Insurance $1,850 $3,600 $7,200 $14,500 $36,000

Legal & Professional Fees $85,250 $18,575 $45,250 $47,250 $50,275

Marketing $75,000 $95,275 $175,550 $200,575 $250,000

Operating Profit $-20,100 $149,845 $356,709 $781,799 $1,751,973

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

Documents

Offering Memorandum

Investor Agreement

2021 Balance Sheet

2021 Income Statement

2022 Balance Sheet

2022 Income Statement

Appendix B - Reviewed Financial Statements and Report.pdf

Investment Round Status

Target Raise $50,000

Maximum Raise $618,000

Amount Invested $0

Investors 0

Investment Round Ends January 4th, 2023

Summary of Terms

Legal Business Name Honeybee Collective LLC

Minimum Investment Amount $100

Description of Securities

The intent of this term sheet ("Term Sheet") is to describe certain key terms of an equity investment in Honeybee Collective, LLC. This Term Sheet is not intended to be a binding agreement between the potential investor and the Company. For a complete description, investors should review the Form C and CrowdSAFE.

Key Terms:

Valuation Cap - $5,000,000

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CrowdSAFEs Available in Offering - 50,000
Price Per CrowdSAFE - $1.00
Minimum investment amount - $100 (100 CrowdSAFEs)
Target Offering Amount - $50,000
Maximum Offering Amount - $618,000

The Company is offering to Investors an opportunity to purchase CrowdSAFEs in the Company. The minimum investment amount per Investor is $100.00 or 100 CrowdSAFE

Financial Condition
Forecasted milestones

The Honeybee Collective forecasts the following milestones:

Sell $3.4 million in licensed products within one year of launch in New York

Secure licensing agreement in 1 to 3 additional states in 2023

Notes to the Financial Statements

1. Summary of significant accounting policies a. Nature of operations

Honeybee Collective LLC (the Company) is a cannabis branding, marketing, and sales company.

The Company develops cannabis brands & products that it licenses to manufacturers in exchange for a royalty. Its signature brand, The Honeybee Collective, is currently distributed in 22 dispensaries in Colorado. The Company also brokers sales of other brands' cannabis products in exchange for a commission. The Company currently represents three clients in a brokerage capacity. The Company offers marketing services to companies in the cannabis space. The Company does not have any active marketing clients.

b. Basis of accounting

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") as detailed in the Financial Accounting Standards Board's Accounting Standards Codification. The financial statements have been prepared on the accrual basis of accounting.

c. Use of estimates

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

d. Fair value measurements

Generally accepted accounting principles define fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price) and such principles also establish a fair value hierarchy that prioritizes the inputs used to measure fair value using the following definitions (from highest to lowest priority):

See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

- Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.
- Level 2 - Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.
- Level 3 - Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable.

The fair values of assets approximate their carrying value due to the relatively short periods to maturity.

e. Income taxes

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The Company is a limited liability company taxed as a pass through entity. The accompanying financials statements do not include a provision, benefit, liability, or refund receivable for federal and state income taxes because the members are taxed individually on their share of the limited liability company earnings.

f. Cash and cash equivalents

Cash and cash equivalents includes deposits at financial institutions.

g. Receivables

Under the terms of the Company's intellectual property licensing contract, the Company is paid a Royalty that is due 15 days after the Licensee collects payment for the sale of The Honeybee Collective branded products. The licensee collects payment for product sales on terms ranging from COD to Net 90, with an average term agreement of 27 days. As a result, the Company typically expects Royalty payments around 45 days after the sale of its branded products.

The Company is paid a commission for brokerage services that is due on the 15th day of the month after a sale is completed.

See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

The Company charges a monthly retainer for marketing services that is due on the first day of the month prior to the commencement of services.

The Company recognizes payments due as bad debt when payments are 90+ days past due.

h. Revenue recognition

ASC Topic 606, "Revenue from Contracts with Customers" establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers. Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services.

The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: 1) identify the contract with a customer; 2) identify the performance obligations in the contract; 3) determine the transaction price; 4) allocate the transaction price to performance obligations in the contract; and 5) recognize revenue as the performance obligation is satisfied.

The Company recognizes revenue when it receives payment for royalties and services.

i. Comprehensive income

The Company does not have any comprehensive income items other than net income.

2. Revenue sharing notes

During 2022, the Company participated in a crowdfunding raise through MainVest, Inc., a licensed Funding Portal that offers investments under Regulation Crowdfunding. The total crowdfunding raise totaled $241,105 in the form of unsecured debt with a payback that is tied to a revenue share rate of 3% and a maturity date of 1/1/2027.

During 2022, the Company received draws on the amount raised totaling $232,005, net of debt issuance costs of $9,100.

See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

Debt issuance costs are recorded as a deduction of the debt liability and amortized as interest expense over the life of the revenue sharing note.

3. Related party transactions

On August 1, 2021 the Company signed a promissory note with its Director or Revenue & Partnerships and co-founder for a principal amount of $70,183. Interest accrues at 5% simple interest per annum and matures on August 1, 2027 when all principal and interest are due. There are no required payments prior to maturity.

On January 12, 2023 the Company signed a promissory note with its Director of Community Development & Philanthropy and co-founder for a principal amount of $1,200. Interest accrues at 5% simple interest per annum and matures on August 1, 2027 when all principal and interest are due. There are no required payments prior to maturity.

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4. Commitments and contingencies

The Company is not currently involved with and does not know of any pending or threatening litigation against the Company.

5. Going concern

These financial statements have been prepared on a going concern basis which contemplates the realization of assets and the payment of liabilities in the ordinary course of business. As shown in the accompanying financial statements, the Company has operated at a loss and relied on debt to finance its operations. Those factors and conditions create a substantial doubt about the Company's ability to continue as a going concern for the year following the date the financial statements are available to be issued. Management of the Company has evaluated these conditions and has proposed a plan to continue to raise funds via a crowdfunding campaign. The ability of the Company to continue as a going concern and meet its obligations as they become due is dependent on management's ability to successfully implement the plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

6. Subsequent events

Management evaluated all activity of the Company through February 13, 2023 (the issuance date of the 11

See independent accountant's review report. The accompanying notes are an integral part of these financial statements.

financial statements) and concluded that no subsequent events have occurred that would require recognition in the financial statements or disclosure in the related notes to the financial statements.

Risk Factors

CANNABIS IS ILLEGAL UNDER FEDERAL LAW. THIS MEANS THAT THE BUSINESS IS UNDER THREAT OF CRIMINAL LIABILITY AND ASSET FORFEITURE. INVESTORS MAY ALSO BE SUBJECT TO POTENTIAL CRIMINAL PENALTIES.

Because cannabis is federally illegal, investing in cannabis businesses could be found to violate the federal Controlled Substances Act. Not only can investors and company directors or management be indicted under federal law, all of the assets they contribute to a cannabis business (and even to an ancillary cannabis business), including real property, cash, equipment and other goods, could be subject to asset forfeiture because cannabis is still federally illegal.

There are conflicts in Federal and State regulations related to cannabis.

Federal regulation and enforcement may adversely affect the implementation of adult use/medical Cannabis laws and regulations may negatively impact our revenues and profits. The state laws conflict with the federal Controlled Substances Act, which makes cannabis use and possession illegal on a national level. If the federal government determines that such laws should be enforced strictly, it could cause significant financial damage to the Company and its shareholders.

Again, cannabis remains illegal under federal law. It is a Schedule I controlled substance. Even in those jurisdictions in which the use of medical cannabis has been legalized at the state level, its prescription is a violation of federal law. The United States Supreme Court has ruled in United States v. Oakland Cannabis Buyers' Coop. and Gonzales v. Raich that the federal government that has the right to regulate and criminalize cannabis, even for medical purposes. Therefore, Federal law criminalizing the use of cannabis trumps state laws that legalize its use for medicinal purposes. At present, the states are maintaining existing laws and passing new ones in this area. A change in the federal attitude towards enforcement could have a negative effect on the industry, potentially ending it entirely. Laws and regulations affecting the cannabis industry are constantly changing, which could detrimentally affect our proposed operations. Local, state, and federal cannabis laws and regulations are broad in scope and subject to evolving interpretations, which could require us to incur substantial costs associated with compliance or alter our business plan. In addition, violations of these laws, or allegations of such violations, could disrupt our business and result in a material adverse effect on our operations. In addition, it is possible that regulations may be enacted in the future that will be directly applicable to our business. We cannot predict the nature of any future laws, regulations, interpretations, or applications, nor can we determine what effect additional governmental regulations or administrative policies and procedures, when and if promulgated, could have on our business.

Banking Difficulties

The cultivation, sale, and use of cannabis are illegal under federal law. Therefore, many banks do not accept for deposit funds from the drug trade and therefore would not be able to do business with the Company. As such, the Company and its wholly owned entities may have trouble finding a bank willing to accept their business. There can be no assurance that banks currently or in the future will decide to do business with cannabis growers or retailers, or that in the absence of legislation state and federal banking regulators will not strictly enforce current prohibitions on banks handling funds generated from an activity that is illegal under federal law. This may make it difficult for the Company to open accounts, use the service of banks and otherwise transact business, which in turn may negatively affect the Company.

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Despite rules issued by the United States Department of the Treasury mitigating the risk to banks that do business with cannabis companies permitted under state law, as well as guidance from the United States Department of Justice, banks remain wary to accept funds from businesses in the cannabis industry. Since the use of cannabis remains illegal under Federal law, there remains a compelling argument that banks may be in violation of Federal law when accepting for deposit, funds derived from the sale or distribution of cannabis. Consequently, businesses involved in the cannabis industry, including us, continue to have trouble establishing and maintaining banking relationships. An inability to open and maintain bank accounts may make it difficult for us and our customers to do business. In addition, our inability to maintain a bank account has resulted in our holding large sums of cash. Although we store our cash in a secure safe, we are exposed to a greater risk of theft.

THERE MAY BE DIFFICULTIES IN ADMINISTERING REPAYMENTS AND REPAYMENT MECHANISMS MAY VARY

Because banks may not be willing to do business with a cannabis entity for the reasons discussed above, any repayments owned under the Revenue Sharing Note will be fully administered by the Company and likely not processed by a financial institution. This means it is unlikely that the Company will be able to provide payments via Automated Clearing House (ACH) transfers, and may need to rely on other sources, such as personal checks and/or third party financial applications. This other sources may subject repayments to additional fees or risks, and will be subject to any applicable terms and conditions. To further clarify, repayments will not be processed by Mainvest or its affiliates. Instead, the Company will be responsible for facilitating all repayments and it is possible the Company may have difficulties in organizing and facilitating these future repayment obligations.

You Might Lose Your Money

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

Limited Services

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

Lack of Accounting Controls

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

Competition

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

Reliance on Management

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

Financial Forecasts Risks

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

Inability to Sell Your Investment

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

The Company Might Need More Capital

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

Changes in Economic Conditions Could Hurt The Honeybee Collective

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

No Registration Under Securities Laws

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

Incomplete Offering Information

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

Lack of Ongoing Information

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

Uninsured Losses

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

Changes in Laws

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

Conflict of Interest With Companies and Their Management

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

Future Investors Might Have Superior Rights

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

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

Any company whose securities are listed on a national stock exchange (for example, the New York Stock Exchange) is subject to a number of rules about corporate governance that are intended to protect investors. For example, the major U.S. stock exchanges require listed companies to have an audit committee made up entirely of independent members of the board of directors (i.e., directors with no material outside relationships with The

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Honeybee Collective or management), which is responsible for monitoring The Honeybee Collective's compliance with the law. The Honeybee Collective will not be required to implement these and other investor protections.

You Do Have a Downside

Conversely, if The Honeybee Collective fails to generate enough revenue, you could lose some or all of your money.

Payments and Return Are Unpredictable

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

Lack of Guaranty

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

Limitation of Individual Rights in Event of Default

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

COVID-19 Impact

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

Limited Operating History

The Honeybee Collective is a newly established entity and has limited history for prospective investors to consider.

This information is provided by The Honeybee Collective. Mainvest never predicts or projects performance, and has not reviewed or audited this information. For additional information, review the official Form C filing with the Securities and Exchange Commission on the EDGAR website. This is a preview. It will become public when you start accepting investment.

Investor Discussion

This discussion is exclusively available to the business owners and investors.

I'd love for this business to...

My favorite part about this is...

Please tell me more about...

Tracie M. Mitchellville, MD 7 days ago

Hi, I received my payout, however, you guys probably spent more sending me that than the payout itself. Is it possible to defer payouts until a minimum payout amount can be achieved. This will lower your costs and time.

Reply

Sholeh M. Lakewood, CO 5 days ago The Honeybee Collective Entrepreneur

Hi Tracie, Thanks for the feedback. We will let Mainvest know as it would be great to be able to rollover or defer payments in the future but right now we are obligated to make payouts each year, regardless of size.

Reply

Christine M. Mundelein, IL 24 days ago

Just got my repayment check. Thanks, guys! :)

Reply

Chris B. Lakewood, CO about 17 hours ago The Honeybee Collective Entrepreneur

Thank you Christine! We appreciate your support.

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Reply

Jill B. Crown Point, IN 28 days ago

Received my check today in the mail . Thank you

Reply

Chris B. Lakewood, CO about 17 hours ago The Honeybee Collective Entrepreneur

Excellent. Thank you, Jill!

Reply

Randy W. Faucett, MO 8 months ago

When will Q2 payments happen?

Reply

Sholeh M. Lakewood, CO 7 months ago The Honeybee Collective Entrepreneur

We will be paying out annually starting January 2023. Check out our latest investor update email for more details

Reply

aimee a. Strasburg, CO about 1 year ago

I invested because I believe in The Honeybee Collective is moving in the right direction in the cannabis industry. Is also run by a team of truly authentic and forward thinking folks. Much success to you and us.

Christa G. Tigard, OR about 1 year ago

I love to support local business.

James M. Lakewood, NJ about 1 year ago

I invested because this is an established business and has a strong future in the field. this is a good chance to get in and enjoy the returns. come to NJ, my state, and get in on the opportunities.

Dr. Margo J. Denver, CO about 1 year ago

I love the mission and what The Honeybee Collective stands for! Cannabis safety is important for all of us users.

Mills C. Baltimore, MD about 1 year ago

I invested because I believe in the mission of the firm and the founders!

Sholeh M. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks for backing our vision, Mills!

Ken M. Evergreen Park, IL about 1 year ago

Looking forward to visiting your location soon

Sholeh M. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks for the investment and support, Ken

Kim B. Weimar, CA about 1 year ago

I invested because i believe in the business and Michele Kirstein.

Sholeh M. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

We appreciate the support, Kim!

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Chelsea K. Norwalk, CT about 1 year ago

First investment! Looks like an exciting company to be a part of.

Sholeh M. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

We love a first time investor here at The Honeybee Collective!

Kj A. Miami, FL about 1 year ago

I had to give some support to the honeybee collective. I believe in what they're doing and I would be a fool to miss out on the ride they're taking.

Sholeh M. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks for believing in us, KJ! Glad to have you along for the ride!

Phillip M. Oakland, CA about 1 year ago

I invested because I like to support small businesses and to make a profit too, in time.

Sholeh M. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks for the support, Phillip!

Bryan H. Pueblo, CO about 1 year ago

New to crypto currencies, stocks, bonds, etf's and just investing in general.

Sholeh M. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

We love first time investors!

Lisa L. Dublin, CA about 1 year ago

I invested because I believe in these ladies and have known them a long time- I support dreams and small business like I breathe

Sholeh M. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks for the small business support, Lisa!

Lilli K. Alameda, CA about 1 year ago

Woohoo!

Sholeh M. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Our thoughts exactly!

James M. Lakewood, NJ about 1 year ago

I invested because Well as a very old hippie, I'm so happy that pot is legal in some states. I live in New Jersey and can't wait until the committee finally gets off its ass and lets some outlets open here.

Sholeh M. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks for the investment, James!

Kj A. Miami, FL about 1 year ago

I invested because I believe Marijuana has health benefits and I want to support the future

Sholeh M. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

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We couldn't agree more, KJ. Thanks for the support!

Gregory G. San Francisco, CA about 1 year ago

Best wishes on this kick ass company!!

Sholeh M. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks for such a kick ass investment, Greg!

Susie P. Castro Valley, CA about 1 year ago

I invested because I believe in Erin Parkins and want to support her in this venture and we are Family!

Suzanne P. Centennial, CO about 1 year ago

💞💞🍋🍜💞

Sholeh M. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks for your support, Suzanne ❤️🍋

Robert D. Holladay, UT about 1 year ago

I invested because I'm super proud of Erin for having guts and taking risk in starting a model company

Erin P. Evergreen, CO about 1 year ago The Honeybee Collective Entrepreneur

Thank you so much for your support!

ROILYN M. Columbia, MD about 1 year ago

I invested because I have been burned attempting to be in the medical cannabis industry, this is a way for me to support the small farmer and participate. I believe in true equity in the legal cannabis market for all. And I met Chris Becker a few times, I support his vision.

Chris B. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Thank you, Roilyn! Your support means the world to us.

Jennifer E. Cameron Park, CA about 1 year ago

This is my first time investing. Excited to see all of the good that will come of your success!

Chris B. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks Jennifer! We're loving how many people are investing with us as their first investment. It's an honor, much appreciated.

DOUGLAS P. Castro Valley, CA about 1 year ago

Happy to support this business!

Erin P. Evergreen, CO about 1 year ago The Honeybee Collective Entrepreneur

Thank you so much Doug!

Chris B. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks to everyone who has helped us raise $107,000 of our $250,000 campaign goal! Your investments broke the record for most money raised in 48 hours on the Mainvest platform and got acknowledged by StreetInsider.com:
https://www.streetinsider.com/Investor+Brand+Network/CannabisNewsBreaks+%E2%80%93+The+Honeybee+Collective+Breaks+Record+to+Rais

Kayley H. Livermore, CA about 1 year ago

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My first time investing! Good luck guys!!

Chris B. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks so much Kayley!

Robert W N. Carrollton, MS about 1 year ago

Will the offering be increased so additional investors can participate?

Chris B. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Yes, investing will reopen on January 8th when our goal will raise to $250k. Thanks for asking & Happy New Year!

Josh S. Westminster, MD over 1 year ago

I've known Chris Becker for at least 20 yrs. he's always been a genuine savvy guy. He helped facilitate the purchase of my first home and has been a great friend throughout the years. I believe in Chris and the team at honeybee collective

Chris B. Lakewood, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks brother - Happy New Year!

Barbara N. New York, NY over 1 year ago

You had me at "research-backed local living wage to all employees, a 4-day work week, and unlimited PTO". YES! Supporting your business model of being employee-owned. It's the way towards a more equitable future.

Erin P. Evergreen, CO about 1 year ago The Honeybee Collective Entrepreneur

Thank you Barbara!

James M. Lakewood, NJ over 1 year ago

I invested because I think that the more people see what pot can do, the more they will appreciate it. Plus my 2 grandsons live in CO and might be your customers, lol.

Erin P. Evergreen, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks so much James!

Andrew S. Mt Pleasant, MI over 1 year ago

I am excited for this opportunity to participate in a company and people I believe in. I can't wait to see what we can build together.

Erin P. Evergreen, CO about 1 year ago The Honeybee Collective Entrepreneur

Thank you Andrew!

Suria S. Oakland, CA over 1 year ago

I invested because I believe in the mission and I support my friend in her business endeavors that will ultimately better the community.

Erin P. Evergreen, CO about 1 year ago The Honeybee Collective Entrepreneur

Thanks so much Suria!

Jonathan D. Traverse City, MI over 1 year ago

If I invest $500, do I receive both at t-shirt and a hoodie?

Sholeh M. Lakewood, CO over 1 year ago The Honeybee Collective Entrepreneur

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Hi Jonathan, Thanks for the question. Investors at the $250 level will receive a t-shirt only and those at the $500+ level will receive a hoodie only as a thank you from the team.

Alexandra S. Lakewood, CO over 1 year ago

I invested because Sholeh and Chris are the most hardworking and capable people I know, the business values and mission are aligned with my own, and the cannabis industry is worth investing in for its incredible growth potential.

Sholeh M. Lakewood, CO over 1 year ago The Honeybee Collective Entrepreneur

Thanks so much for your support, Alex!

Olivia R. Hayward, CA over 1 year ago

I believe in their vision and goals.

Sholeh M. Lakewood, CO over 1 year ago The Honeybee Collective Entrepreneur

Thanks for believing in us and our mission, Olivia!

Tracie M. Mitchellville, MD over 1 year ago

I invested because Im looking to make money and I am impressed with the due diligence and provided data analytics.

Erin P. Evergreen, CO over 1 year ago The Honeybee Collective Entrepreneur

Thank you for your support Tracie!!

Corrine B. Bradford, MA over 1 year ago

I invested because I support small businesses.

Erin P. Evergreen, CO over 1 year ago The Honeybee Collective Entrepreneur

We love to hear it, thank you Corrine!

Jonathon R. Baltimore, MD over 1 year ago

I invested because of the unique value proposition combined with a skilled and senior leadership team. This is a sound investment.

Erin P. Evergreen, CO over 1 year ago The Honeybee Collective Entrepreneur

Thank you for your vote of confidence and your investment!

Sholeh M. Lakewood, CO over 1 year ago The Honeybee Collective Entrepreneur

Thanks for the support, Jonathan!

Michelle K. Manteca, CA over 1 year ago

I invested because I believe in this new business model, but i believe in my niece even more.

Erin P. Evergreen, CO over 1 year ago The Honeybee Collective Entrepreneur

Thank you!!

Carolyn O. Manteca, CA over 1 year ago

I invested because I read my granddaughters mission statement and it sounds like a real good investment.

Erin P. Evergreen, CO over 1 year ago The Honeybee Collective Entrepreneur

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Thank you so much for your support!

Erin P. Evergreen, CO over 1 year ago The Honeybee Collective Entrepreneur

I invested because I'm passionate about wealth equality and sustainability.

Sholeh M. Lakewood, CO over 1 year ago The Honeybee Collective Entrepreneur

Thanks for all your commitments to The Honeybee Collective, we couldn't be doing this without you!

Brittney A. Concord, CA over 1 year ago

I was happy to invest knowing they care about their product, the customers, and the investors. Looking forward to seeing this business grow!

Erin P. Evergreen, CO over 1 year ago The Honeybee Collective Entrepreneur

Thank you so much Brittney!

Barbara P. Hayward, CA over 1 year ago

I invested because I believe in Honeybee's vision.

Erin P. Evergreen, CO over 1 year ago The Honeybee Collective Entrepreneur

Thank you for your support!

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

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** Honeybee Collective LLC

**Legal Status:** Limited Liability Company

**Jurisdiction of Incorporation/Organization:** CO

**Date of Organization:** 07-08-2021

**Physical Address:** 2255 SHERIDAN BLVD, EDGEWATER, CO, 80214

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

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

**Intermediary Name:** MainVest, Inc.

**Intermediary CIK:** 0001746059

**Intermediary File Number:** 007-00162

### Offering Information

**Compensation to Intermediary:** MainVest will be paid Four (4) Percent of the amount of the Offering raised by "In-Network Users" of the Platform plus Eight (8) Percent of the amount of the Offering raised by all other investors.

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

**Type of Security Offered:** Other

**Other Description of Security:** Simple Agreement for Future Equity (SAFE)

**Number of Securities Offered:** 50000

**Price per Security:** $1.00

**Method for Determining Price:** Securities will be sold in increments of $1.00; each investment is convertible to equity subject to the terms described in 227.201(m) of the offering memorandum.

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

**Oversubscription Accepted:** Yes

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

**Maximum Offering Amount:** $618,000.00

**Deadline to Reach Target Amount:** 08-30-2023

### Annual Report Disclosure Requirements

**Current Number of Employees:** 6.00

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

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

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

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

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

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

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

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

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

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

**Revenues/Sales (Most Recent Fiscal Year):** $0.00

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

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

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

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

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

**Net Income (Most Recent Fiscal Year):** $0.00

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

**Jurisdictions Offered:**

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

### Signatures

**Issuer:** Honeybee Collective LLC

**Signature:** Christopher Becker

**Title:** Managing Member

---

**Signature:** Christopher Becker

**Title:** Managing Member

**Date:** 03-27-2023