# EDGAR Filing Document

**Accession Number:** 0001960816
**File Stem:** 0001960816-23-000001
**Filing Date:** 2023-1
**Character Count:** 264088
**Document Hash:** 4a2d2f7a26e493184ed961da6d2b97b0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001960816-23-000001.hdr.sgml**: 20230120

**ACCESSION NUMBER**: 0001960816-23-000001

**CONFORMED SUBMISSION TYPE**: C

**PUBLIC DOCUMENT COUNT**: 10

**FILED AS OF DATE**: 20230120

**DATE AS OF CHANGE**: 20230119

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Dry Bar Unscripted, Inc.
- **CENTRAL INDEX KEY:** 0001960816
- **IRS NUMBER:** 921156322
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** C
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-31644
- **FILM NUMBER:** 23538632

**BUSINESS ADDRESS:**
- **STREET 1:** 2601 NORTH CANYON ROAD
- **CITY:** PROVO
- **STATE:** UT
- **ZIP:** 84604
- **BUSINESS PHONE:** 9092602509

**MAIL ADDRESS:**
- **STREET 1:** 2601 NORTH CANYON ROAD
- **CITY:** PROVO
- **STATE:** UT
- **ZIP:** 84604

### Attached PDF Documents

**Attachment 1:** `formc.pdf`

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

# **FORM C  
UNDER THE SECURITIES ACT OF 1933**

Name of issuer: Dry Bar Unscripted, Inc.

Legal status of issuer:

Form : Corporation

Jurisdiction of Incorporation/Organization: Delaware

Date of organization): November 9, 2022

Physical address of issuer: 2601 N Canyon Road, Provo, UT 84604

Website of issuer: invest.angel.com/unscripted

Is there a co-issuer?No

Name of intermediary through which the offering will be conducted: VAS Portal, LLC

CIK number of intermediary: 0001749383

SEC file number of intermediary: 007-00165

CRD number, if applicable e, of intermediary: 298941

Amount of compensation to be paid to the intermediary, whether as a dollar amount or a percentage of the offering amount, or a good faith estimate if the exact amount is not available at the time of the filing, for conducting the offering , including the amount of referral and any other fees associated with the offering :

7% of the amount actually raised to be paid in cash, and such number of securities of the same class offered under this offering equal to 1% of the total number issued in this offering, and reimbursement for any expenses incurred by the intermediary for third-party service providers in connection with the offering.

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

None

Type of security offered: Preferred Shares

Target number of securities to be offered: 500,000

Price (or method for determining price): $.50

Target offering amount: $250,000

Oversubscriptions accepted: Yes

If yes, disclose how oversubscriptions will be allocated: First-come, first-served basis

Maximum offering amount (if different from target offering amount): $5,000,000

Deadline to reach the target offering amount: February 16, 2023

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

Current number of employees: 0 _____

|  | Most Recent fiscal year-end | Prior fiscal year-end |
| --- | --- | --- |
| Total Assets | $65,638.00 | $0 |
| Cash & Cash Equivalents | $0 | $0 |
| Accounts Receivable | $0 | $0 |
| Debt | $59,638 | $0 |
| Revenues/Sales | $0 | $0 |
| Cost of Goods Sold | $0 | $0 |
| Taxes Paid | $0 | $0 |
| Net Income (Loss) | ($23,515) | $0 |

Using the list below, select the jurisdictions in which the issuer intends to offer the securities:

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

### **OPTIONAL QUESTION & ANSWER FORMAT FOR AN OFFERING STATEMENT**

Respond to each question in each paragraph of this part. Set forth each question and any notes, but not any instructions thereto, in their entirety. If disclosure in response to any question is responsive to one or more other questions, it is not necessary to repeat the disclosure. If a question or series of questions is inapplicable or the response is available elsewhere in the Form, either State that it is inapplicable, include a cross-reference to the responsive disclosure, or omit the question or series of questions. The term “issuer” in these questions and answers includes any “co-issuer” jointly offering or selling securities with the issuer in reliance on the exemption in Securities Act Section 4(a)(6) and in accordance with Securities Act Section 4A and Regulation Crowdfunding (§ 227.100 et seq.). Any information provided with respect to the issuer should also be separately provided with respect to any co-issuer.

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

## **THE COMPANY**

1. Name of issuer: Dry Bar Unscripted, Inc.

## **ELIGIBILITY**

2. ☑ Check this box to certify that all of the following statements are true for the issuer:

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

**INSTRUCTION TO QUESTION 2: If any of these statements is not true, then you are NOT eligible to rely on this exemption under Section 4(a)(6) of the Securities Act.**

3. Has the issuer or any of its predecessors previously failed to comply with the ongoing reporting requirements of Rule 202 of Regulation Crowdfunding ? No

## **DIRECTORS OF THE COMPANY**

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

Name: Zach Atherton Dates of Board Service: formation to present Principal Occupation:

See employment information and history below

List all positions and offices with the issuer held and the period of time in which the director served in the position or office:

**Dry Bar Unscripted, Inc.**

Position: President

Date’s of Service: 1/1/21 - Present

Responsibilities:

It was my responsibility to oversee the incorporation and creation of Dry Bar Unscripted and all activities necessary to create a Reg CF offering.

I filed to form the legal entity, and negotiated all licenses, partnerships, and agreements.

I oversaw the creation of all marketing materials in preparation for the crowdfunding offering, including the pitch video and torch video with Colin Mochrie.

I created the business model and organized the financial model to project the first 3 years of the company’s financial trajectory.

I organized the cap table and issued equity to contractors to create the necessary assets to get the company started.

I organized the team and partnerships that will execute the business plan at the conclusion of the Reg CF round.

It will be my job to produce and oversee the creation and distribution of improv comedy specials.

Business Experience: List the employers, titles and dates of positions held during past three years with an indication of job responsibilities: (My work history)

### **Harmon Brothers, LLC - Employer**

Employer’s principal business: Marketing

Job Title: Creative Director

Dates of Service: 2/2018 - Present

Responsibilities: As a creative director it was my job to oversee the pre-production, production, and post production of advertising campaigns for various clients.

This included sales and discovery calls, creative brainstorming, copywriting, organizing production teams, directing onset during production and offset during post-production, frequent client communication and final delivery.

### **ImprovBroadway - Employer**

Employer’s principal business: improv comedy theater/school

Job Title: Director

Dates of Service: 8/2014 - Present

Responsibilities: As director, it was my job to produce over 100 live improv comedy shows, over 200 comedy classes, and dozens of private corporate shows every year. I oversaw training, casting, ticketing, marketing, producing, and all experiential facets of the theater.

### **OFFICERS OF THE COMPANY**

5. Provide the following information about each officer (and any persons occupying a similar status or performing a similar function) of the issuer:

Name: Zachary Atherton - President

Title: _Dates of Service: 01/01/2021 - Present included above.

Responsibilities: See job description

# PRINCIPAL SECURITY HOLDERS

6. Provide the name and ownership level of each person, as of the most recent practicable date, who is the beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power.

| Name of Holder | No. and Class of Securities | % of Voting Power |
| --- | --- | --- |
| Zach Atherton | 6,250,000 Common Shares | 64.09% |

INSTRUCTION TO QUESTION 6: The above information must be provided as of a date that is no more than 120 days prior to the date of filing of this offering statement.

To calculate total voting power, include all securities for which the person directly or indirectly has or shares the voting power, which includes the power to vote or to direct the voting of such securities. If the person has the right to acquire voting power of such securities within 60 days, including through the exercise of any option, warrant or right, the conversion of a security, or other arrangement, or if securities are held by a member of the family, through corporations or partnerships, or otherwise in a manner that would allow a person to direct or control the voting of the securities (or share in such direction or control - as, for example, a co-trustee) they should be included as being 'beneficially owned.' You should include an explanation of these circumstances in a footnote to the 'Number of and Class of Securities Now Held.' To calculate outstanding voting equity securities, assume all outstanding options are exercised and all outstanding convertible securities converted.

# BUSINESS AND ANTICIPATED BUSINESS PLAN

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

Dry Bar Unscripted, Inc. is the spiritual sister channel of Dry Bar Comedy, LLC. It is licensed to use the 'Dry Bar' name and shares the same film studio and distributor Angel Studios.

For Phase 1, Dry Unscripted, Inc. will follow the same business plan as Dry Bar Comedy, LLC which is to produce and monetize comedy

Using the capital raised from a Reg CF campaign, we will produce dozens of improv comedy specials from improv comedy duos, trios, and teams from all around the world.

We will release these specials for free on all social media platforms with monetization (Facebook, Instagram, YouTube, etc.).

As we monetize our content and build an audience, we will identify our highest impact creators (the improv comedians with the highest views) and will create additional comedy content with them, growing their brand in tandem with Dry Bar Unscripted, Inc.

As we continue to grow our library of comedy specials, we will license out the content to various streaming services and networks.

This business plan proved to be very successful for Dry Bar Comedy and their library of stand up comedy specials. We believe we will find similar success doing the same for improv comedy specials.

As we grow through our Phase 1 plan, we will rolling out our phase 2 and 3 plans which include creating additional comedy content (sketch comedy, film, TV, original content) and building software that will connect comedians to their audiences and directly selling tickets to them for live events, cameos, and other entertainment services.

## RISK FACTORS

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

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

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

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

### **8. Discuss the material factors that make an investment in the issuer speculative or risky**

An investment in the Company involves a number of risks. Accordingly, an investment in the Company is suitable only for investors of substantial means who have no immediate need for liquidity of the amount invested and who can afford a risk of loss of all or a substantial part of such investment. Although the Officers and Board Members believe

that responsible returns can be achieved by investing in the Company, there can be no assurance that such returns will be realized or that an investor will receive a return of any of its capital contributions. In addition, potential investors should be aware that there will be occasions when the Officers and Board Members may encounter potential conflicts of interest in connection with the Company. Accordingly, the following considerations should be carefully evaluated before making an investment in the Company.

#### ***No Assurance of Adequate Capitalization***

Even if we generate the minimum amount of capital ($250,000) there is no guarantee that will be sufficient to build a business to a profitable level.

#### ***No Guarantee of Investment Returns***

No guarantee or representation is made that the Company’s business operations will be successful, or that its business objectives will be achieved. The Company may not achieve the profitability it desires, and therefore may be unable to distribute any return to its Members. A purchaser should therefore only invest in the Company if the purchaser can withstand a total loss of its investment. Past investment performance is not a guarantee of future results of the Company or any investment of the Company.

#### ***General Risks Associated with Business Ventures***

Any return on investment to the Members will depend upon the success of the business ventures entered into on behalf of the Company by the Officers. There generally will be little or no publicly available information regarding the status and prospects of such business ventures. Many decisions by the Officers regarding the business ventures of the Company will be dependent upon the ability of its Members and agents to obtain relevant information from non-public sources. The success of each such business venture will depend upon many factors beyond the Company’s control.

#### ***No Resale Market or Disposition of Shares***

While securities, such as the Shares, that are sold under Regulation CF are not “restricted” securities, various resale issues are inherent with such securities and presently there is no market for the resale of the Shares, nor do the Officers anticipate undertaking any of the necessary steps required to enable resale of the Shares, therefore, no such resale market is expected to develop. Although an Investor has the right to assign his/her interest in the profits of the Company with the consent of the Officers, no assignee of an Investor has the right to become a substituted Investor in place of his/her assignor, unless the Officers consent thereto in writing, which they are not obligated to do. For the foregoing reasons it is unlikely that the Investors will ever be able to sell the Shares they purchase.

#### ***No Withdrawal from Company***

Withdrawals of Members from the Company generally will not be permitted, although the Operating Agreement may specify certain circumstances under which a Member may be entitled, or required, to withdraw from the Company. A withdrawn Member may not be entitled to immediate payment for its Interest. Any withdrawal of a Member may reduce the amount of Company capital available for investment or other activities.

#### ***Potential Conflict of Interest***

One of the owners of Dry Bar Unscripted, Inc. is Harmon Brothers, LLC. None of the Members of Harmon Brothers, LLC own enough equity in Harmon Brothers, LLC, nor does Harmon Brothers, LLC own enough equity in Dry Bar Unscripted, Inc. to cause any Member of Harmon Brothers, LLC to be a beneficial owner of more than 20% of the voting equity of Dry Bar Unscripted, Inc., so none of them are disclosed in the ownership chart of this Form C.

However, some of the owners of Harmon Brothers, LLC (Neal, Jeffrey, and Daniel Harmon) are also owners of VAS Portal, LLC. We believe that because none of them are involved with the day-to-day operations of either Dry Bar Unscripted, Inc. or VAS Portal, LLC, that there is no conflict of interest, but we believe that it is still relevant information to make you, the investor, aware of.

# ***The Company's assumptions concerning future operations may not be realized.***

The Company’s goal is to produce a commercially profitable comedy channel. The Company’s projected results are dependent on the successful implementation of the Company’s business plan and strategies and are based on hypothetical assumptions and events over which the Company has only partial or no control.

Furthermore, as a comedy channel comprised of improv comedy content, the potential market may be smaller than more traditional comedy channels. The Company desires to obtain a wide acceptance and popularity, but we cannot guarantee this for Dry Bar Unscripted, Inc.

While management believes that its goals and objectives are reasonable and achievable, no assurance can be given that they will be realized. The revenue we could generate will vary greatly based on factors that we cannot quantify, including things such as ultimate cost of production, methods of distribution later negotiated, audience interest, general economic outlook, etc.

# ***Management will have broad discretion as to the use of the proceeds from the Offering.***

The Company’s management will have broad discretion as to the use of the net proceeds from the Offering for the purpose of producing content with Dry Bar Unscripted, Inc. Investors will be relying on the judgment of the Company’s management regarding the use of the proceeds for the purpose of producing content with Dry Bar Unscripted, Inc.

# ***Investors will own non-voting preferred shares and will have no ability to control or influence the business decisions of the Company.***

Investors in the offering will obtain non-voting preferred shares. As a result, current management will continue to have control of the business decisions and operations of the Company. It is possible that management will not make successful management decisions in all cases.

# ***The Company is a newly formed company and has no history upon which investors can evaluate the Company.***

The Company was recently formed for the purpose of developing, producing, and distributing improv comedy specials through the Dry Bar Unscripted brand. Accordingly, the Company has no operating history on which prospective investors may evaluate the Company’s business and prospects. The Company has no revenues and requires the net proceeds from the sale of Preferred Shares to fund development and production of improv comedy content with Dry Bar Unscripted, Inc. If and when production of the Series commences, no assurance can be given that Dry Bar Unscripted, Inc. will receive market acceptance when produced. The Company faces all of the risks inherent in a new business, including the expenses, difficulties, complications and delays frequently encountered in connection with the formation and commencement of operations, the production and distribution of a movie, and the competitive environment in which the Company intends to operate. The Company may not successfully address any of these risks. If the Company does not successfully address these risks, the Company’s business will be seriously harmed.

# ***Because the film and comedy business is highly speculative, the Company may never achieve profitability.***

The film industry is highly speculative and involves a substantial degree of risk. No assurance can be given of the economic success of any piece of content since the revenues derived from the production and distribution of said content primarily depend on its acceptance by the public, which cannot be predicted. The commercial success of comedy content also depends on the quality and acceptance of competing comedy channels and shows released into the marketplace at or near the same time, the availability of alternative forms of entertainment and leisure time activities, general economic conditions and other tangible and intangible factors, all of which can change and cannot be predicted with certainty. We have no control over what other films or shows or content is released at the same time as our content and thus we cannot know, but it is always possible that another company’s content may be more desirable than our own and we are unsuccessful in competing in the marketing. No assurance can be given that Dry Bar Unscripted, Inc. will appeal to the public or that other shows and films may not be more appealing and therefore reduce the demand to view content produced by Dry Bar Unscripted, Inc. Accordingly, there is a substantial risk that Dry Bar Unscripted, Inc. will not be commercially successful, in which case the Company may be unable to recoup costs associated with the production of content produced by Dry Bar Unscripted or realize revenues or profits from the sale of content produced by Dry Bar Unscripted, Inc.

*Dry Bar Unscripted, Inc. may not succeed if it receives unfavorable reviews.*

The financial success of a comedy channel, in large measure, depends on the reaction of the public, which is often influenced by professional reviewers or critics for newspapers, television and other media. It is impossible to judge in advance what the reaction of these reviewers and critics will be to Dry Bar Unscripted, Inc. To the extent that the content produced by Dry Bar Unscripted, Inc. receives unfavorable reviews from these reviewers and critics, its chances of success may be substantially diminished.

*The Company will have to rely on the services of professionals and other key personnel who may be difficult to replace and the loss of any such persons could adversely affect the Company’s business.*

If the Company is not able to retain the services of key personnel retained by management, there will be a material adverse effect on the Company. If any one of these individuals becomes incapacitated or otherwise becomes unavailable, a qualified successor would have to be engaged. The Company may elect to offer membership shares in the Company to key production personnel (such as producers, writers, actors, stunt coordinators and unit production managers) as a means of obtaining the best possible crew at the lowest up-front cost. Dry Bar Unscripted Inc.’s production and completion may be adversely affected if new personnel must be engaged, or if such personnel demand more favorable compensation. No assurance can be given that a qualified successor could be engaged. These professionals and key personnel also may be involved in other projects that may take them away from the production of content produced by Dry Bar Unscripted, Inc. and cause delays, all of which may increase the cost of production and decrease the likelihood of being able to complete the planned amount of content, which would have an adverse effect on the Company’s business and prospects.

*Most of our competitors, which include large and small studios and production companies, have significantly greater financial and marketing resources, as well as experience, than do we.*

We are a very small and unproven entity as compared to some of our competitors. We will compete with film studios, both large and small, production companies, independent producers, and agencies. Most of the major U.S. studios are part of large diversified corporate groups with a variety of other operations, including television networks and cable channels, that can provide both the means of distributing their products and stable sources of earnings that may allow them better to offset fluctuations in the financial performance of their operations. The major studios have more resources with which to compete for ideas, storylines and scripts. This may have a material adverse effect on our business, results of operations and financial condition. In addition, established smaller studios, production companies and agencies have significantly greater financial and marketing resources than do we. Many have sophisticated

websites and the ability to advertise in a wide variety of media. We will principally depend on the business contacts of our executive officers. There are no assurances that our approach will be successful.

# ***We may be required to raise additional capital to fully fund our business plan and expand our operations.***

Currently, we have no revenue-generating activities. The purpose of this offering is to raise up to $5,000,000 million towards our production budget and other crowdfunding and business administrative expenses. Even after taking account of the funds raised in this offering, we may need to raise additional funds to finalize the full production and execution of Dry Bar Unscripted, Inc. We may seek to sell common or preferred equity or convertible debt securities, enter into a credit facility or another form of third-party funding or seek other debt financing in order to fund the development of Dry Bar Unscripted. We may also consider raising additional capital in the future to expand our business, to pursue strategic investments, to take advantage of financing opportunities or for other reasons.

Additional capital may not be available at such times or in amounts as needed by us. Even if capital is available, it might be available only on unfavorable terms. Any additional equity or convertible debt financing into which we enter could be dilutive to our then existing members. Any future debt financing into which we enter may impose covenants upon us that restrict our operations, including limitations on our ability to incur liens or additional debt, pay dividends, repurchase our equity, make certain investments and engage in certain merger, consolidation, or asset sale transactions. Any debt financing or additional equity that we raise may contain terms that are not favorable to us or our members. If we raise additional funds through collaboration and licensing arrangements with third parties, it may be necessary to relinquish some rights to our produced content, or grant licenses on terms that are not favorable to us. If access to sufficient capital is not available as and when needed, our business will be materially impaired and we may be required to cease operations, curtail the acquisition, recycling or marketing of produced content, or we may be required to significantly reduce expenses, sell assets, seek a merger, or joint venture partner, file for protection from creditors or liquidate all our assets.

# ***The Company could potentially be found to have not complied with securities law in connection with its Regulation CF Offering related to “Testing the Waters.”***

Prior to filing their Offering Circular, the Company engaged in “testing the waters” permitted under Regulation CF, which allows issuers to communicate to determine whether there is interest in the offering. All communication sent is deemed to be an offer of securities for purposes of the antifraud provisions of federal securities laws. Although all requisite disclaimers were included and visible on the “Testing the Waters” page, it is possible that some of the communications may be found to not have included proper disclaimers required for “testing the waters”.

# ***Dry Bar Unscripted, Inc. is a long-term project.***

The development and production of even a single comedy special typically involves the passage of a significant amount of time, as does the development and production of a full library of comedy specials. As the Company’s business contemplates the production of Dry Bar Unscripted, a library of comedy content, it goes without saying that it may necessitate the passage of even more significant amount of time than it otherwise would for even one such production. One or more rounds of investor financing may continue for one or several years, attempts to sell the Series may take months to years (if they are ultimately even successful at all), production of the Series may extend for several months to years, and it may be even longer still before the show even makes it to air.

# ***There are numerous potential legal challenges.***

The entertainment industry is a notoriously litigious one, in which ownership and attribution claims are raised all the time with respect to original ideas. It would not be unheard of for one or more third parties to claim that they inspired

or helped come up with the concepts or even the idea behind the Series itself and thereafter threaten to or actually bring suit against the Company or one or more of the Officers or Board Members on the alleged basis that those persons or entities are due some measure of contribution or redress from the profits of the Company. In such an instance, even when the claims amount to nothing, they must still be litigated and/or settled before a distributor will allow the Series to be aired.

# ***We may not generate sufficient cash flow to make distributions to you.***

There is no assurance that we will ever have income sufficient to cover our expenses and have sufficient cash flow to make distributions to you. Even if we make distributions, there can be no assurance concerning the timing or amounts of the distributions. You may be required to bear the economic risk of the investment for an indefinite period of time. Ultimately, each investor's risk with respect to this offering includes the potential for a complete loss of their investment.

# ***Abandonment or Close of Production.***

The Officers and board members have the right to abandon production of Dry Bar Unscripted, Inc. at any time, for any reason whatsoever. In the case of such abandonment, the Members must be prepared for a loss, except to the extent that unspent amounts remain on account. Such amounts will be returned to the Members on a pro-rata basis. Losses may be decreased if abandonment of a given production occurs following the vesting of the Company's rights to participate in subsidiary revenue, or if prior merchandising or album income previously had been earned.

# ***Pandemic Related Risks.***

COVID-19 continues to affect all facets of the world economy. The Company's projects are subject to pandemic-related supply and demand disruptions. This includes the effects of the virus on our customers and vendors as well as the measures taken to mitigate the spread of the virus. The COVID-19 pandemic has also caused, and is likely to continue to cause, severe economic, market and other disruptions worldwide. We cannot assure that conditions in the bank lending, capital and other financial markets will not continue to deteriorate as a result of the pandemic, or that our access to capital and other sources of funding will not become constrained, which could adversely affect the availability and terms of future borrowings, renewals or refinancings.

# ***Unpredictability Of Decreased Monetization Or Demonetization On Digital Platforms***

As Dry Bar Unscripted, Inc. produces content to be released on various digital platforms such as Facebook, YouTube, Instagram, Tik Tok, etc. we have no control over the monetization practices and policies of any given platform. Even despite best efforts to abide by all community guidelines outlined in varying social platforms' terms of service, any digital platform may reduce the amount of monetization Dry Bar Unscripted, Inc.'s through changes to their algorithms or even demonetization entirely.

# ***Special Note Regarding Forward-Looking Statements.***

This Offering Circular may contain forward-looking statements relating to future events or the future performance of the Company or its operating companies. In some cases, you can identify forward-looking statements by terminology such as may, will, should, expect, plan, intend, anticipate, believe, estimate, predict, potential or continue, the negative of such terms or other comparable terminology. These statements are only predictions. Actual events or results may differ materially. In evaluating these statements, prospective investors should specifically consider various factors, including the risks outlined in this Risk Factors section of the Memorandum. These risk factors may cause actual events or results to differ materially from any forward-looking statement. Although the Officers believe that the

expectations reflected in the forward-looking statements are reasonable, future results, levels of activity, performance or achievements cannot be guaranteed. Moreover, neither the Company, the Board Members, the Officers nor any of their affiliates assume responsibility for the accuracy and completeness of the forward-looking statements. The Company, the Officers, the Officers and their affiliates are under no duty to update any of the forward-looking statements after the date of this Memorandum to conform such statements to actual results or to changes in expectations.

## THE OFFERING

9. What is the purpose of this offering ? Raise money for working capital to produce improved comedy specials for the platform.
10. How does the issuer intend to use the proceeds of this offering ?

| Use of Funds: | If Target Offering Amount is Sold | If Maximum Amount is Sold |
| --- | --- | --- |
| Portal Fees | $17,500 | $350,000 |
| Qualified Third Party and Processing Fees | $9,500 | $64,500 |
| Production | 213,000 | 4,075,500 |
| Marketing | $10,000 | $510,000 |
| Total: | $250,000 | $5,000,000 |

11. (a) Did the issuer make use of any written communication or broadcast script for testing the waters either (i) under the authorization of Rule 241 within 30 days of the initial filing of the offering statement, or (ii) under the authorization of Rule 206? If so, provide copies of the materials used.

See attached exhibits for all testing the waters communications.

(b) How will the issuer complete the transaction and deliver securities to the investors.

If the offering reaches the target offering amount prior to the deadline, we may elect to do an initial closing of the offering and then continue to raise funds up to the maximum amount up to the deadline or until the maximum is raised. Upon closing, a notice will be sent to each investor indicating the amount of securities purchased. The preferred units will not be certificated. Investors may access their investments in their applicable VAS Portal, LLC user account.

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

The investor may log into their Angel Funding account, navigate to their “My Investments” page, choose the commitment they want to cancel and then click the option to cancel. The option to cancel will only be visible when it is possible to cancel according to the cancellation provisions of Regulation Crowdfunding.

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

**The intermediary will notify investors when the target offering amount has been met.**

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

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

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

## OWNERSHIP AND CAPITAL STRUCTURE

### The Offering

*13. The following descriptions summarize important terms of our membership interests. This summary reflects our Operating Agreement and does not purport to be complete and is qualified in its entirety by the Operating Agreement, which have been filed as Exhibits to the Offering Statement of which this Offering Circular is a part. For a complete description of our membership interests, you should refer to our Operating Agreement and applicable provisions of the Delaware Limited Liability Company Act. Any capitalized terms used but not defined herein shall have their meanings as set forth in the Operating Agreement.*

#### General

The Company is offering 10,000,000 Preferred Stock in this offering.

The Company’s Operating Agreement provides that the membership interests of the Members in the Company shall be issued in unit increments (each, a “Share”). The Company is authorized to issue two classes of Shares to be designated “Preferred Shares”, and “Common Shares”. The minimum Capital Contribution of a Member

shall be $100 for Preferred Shares, subject in each case to acceptance of a lesser amount by the Officers in its sole and exclusive discretion. Preferred Shares shall be issued at a price per Share as determined from time to time in good faith by the Officers.

14. Voting Rights

The holders of Preferred Shares do not have voting rights.

Distribution Rights

The Officers shall have sole discretion regarding the amounts and timing of distributions of Available Funds to Members, including to decide to forego payment of distributions in order to provide for retention and establishment of reserves of, or payment to third parties of such funds as it deems necessary with respect to the reasonable business needs of the Company (which needs may include the payment or the making of provision for the payment when due of the Company's obligations, including but not limited to, present and anticipated debts and obligations, capital needs and expenses, the payment of any management or administrative fees and expenses, and reasonable reserves for contingencies); provided, however, that the Company shall be required to make distributions in the amounts and order as follows:

(a) Prior to making any distributions to the Common Shareholders, the Company shall first make distributions to the Preferred Shareholders until they have received a cumulative return of one hundred twenty percent (120%) of their initial capital contribution.

(b) Once the Preferred Shareholders have received a total of one hundred twenty percent (120%) of their initial capital contributions, the Company shall distribute all Profits in proportion to the Member's Membership Interest.

(c) For avoidance of doubt, the Members acknowledge and agree that the Officers and Board Members shall have sole discretion to pay all or any portion of the Company's debts and liabilities to its creditors (including to Members as loans or salary, each if applicable), prior to making any distributions.

15. Are there any limitations on any voting or other rights identified above? No

16. How may the terms of the securities being offered be modified? With the written consent of the holders of a majority of the outstanding shares of the class or series of stock affected by such modification.

Restrictions on Transfer of the Securities Being Offered

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

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

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

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

### Description of Issuer’s Securities

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

| Class of Security | Amount Authorized | Amount Outstanding | Voting Rights | Other Rights |
| --- | --- | --- | --- | --- |
| Common Shares | 25,000,000 | 9,751,178 | Yes | Traditional Common Stock |
| Preferred Shares | 10,100,000 | 0 | No | Preferred Return of 20% |

18. How may the rights of the securities being offered be materially limited, diluted or qualified by the rights of any other class of security identified above? Check with Fred. Preferred. Yes, we can (outlined in formation document)

19. Are there any differences not reflected above between the securities being offered and each other class of security of the issuer? No

20. How could the exercise of rights held by the principal shareholders identified in Question 6 above affect the purchasers of the securities being offered?

Because the investors in this offering do not control the day-to-day operations of the Company, the principal shareholders of the Company may make decisions that the investors do not approve of or that harm the interests of the investors.

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

There are several ways to value a company, and none of which are perfect and all of them involve a certain amount of guesswork. The same method can produce a different valuation if used by a different person.

**Liquidation Value** - the amount for which the assets of the company can be sold, minus the liabilities owed. The value for most startups lies in their potential, as many early stage companies do not have many assets.

**Book Value** - this is based on an analysis of the company's financial statements, usually looking at the company's balance sheet as prepared by its accountants. However, the balance sheet only looks at costs (i.e, what was paid for the asset), and does not consider whether the asset has increased in value over time. In addition, some intangible assets, such as patents, trademarks or tradenames, are very valuable but are not usually represented at their market value on the balance sheet.

**Earnings Approach** - this is based on what the investor will pay (the present value) for what the investor expects to obtain in the future (the future return), taking into account inflation, the lost opportunity to participate in other investments, the risk of not receiving the return, and so on.

However, predictions of the future are not certain and valuation of future returns is a best guess. Different methods of valuation produce a different answer as to what your investment is worth. Future investors (including people seeking to acquire the Company) may value the Company differently.

They may use a different valuation method, or different assumptions about the Company's business and its market. Different valuations may mean that the value assigned to your investment changes. It frequently happens that when a large institutional investor such as a venture capitalist or private equity firm makes an investment in a company, it values the company at a lower price than the initial investors did. If this happens, the value of the investment will go down.

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

As a minority interest holder, the investors in this offering cannot control any day-to-day decisions of the Company that might affect the value of their interest. As an investor in the Preferred Units, you will not have any rights in regard to the actions of the Company, including additional issuances of securities, company repurchase of securities, a sale of the Company or its significant assets, or company transactions with related parties. Investors in the Offering will hold minority, non-voting interests.

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

- additional issuances of securities

If additional issuances are made, the investors in this Offering may become diluted.

- issuer repurchases of securities

The company does not have the right to repurchase the securities unless the investor is attempting to transfer them.

- a sale of the issuer or of assets of the issuer or,

Because holders of Preferred Shares do not have the right to vote, the Common Shareholders may vote to sell without the investor's approval. The investors in this Offering have the right to receive a preferred return before the Common Shareholders receive any return.

- transactions with related parties?

As an investor in the Preferred Shares, you will not have any rights in regard to the actions of the Company, including company transactions with related parties.

24. Describe the material terms of any indebtedness of the issuer: N/A

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

26. Was or is the issuer or any entities controlled by or under common control with the issuer a party:
N/A

1. to any transaction since the beginning of the issuer's last fiscal year, or any currently proposed transaction, where the amount involved exceeds five percent of the aggregate amount of capital raised by the issuer in reliance on Section 4(a)(6) of the Securities Act during the preceding 12-month period, including the amount the issuer seeks to raise in the current offering, in which any of the following persons had or is to have a direct or indirect material interest: No any director or officer of the issuer;
2. any person who is, as of the most recent practicable date, the beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power;
3. if the issuer was incorporated or organized within the past three years, any promoter of the issuer; or
4. any immediate family member of any of the foregoing persons. If yes, for each such transaction, disclose the following :

<table><tr><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td></tr></table>

# INSTRUCTIONS TO QUESTION 26:

The term transaction includes, but is not limited to, any financial transaction, arrangement or relationship (including any indebtedness or guarantee of indebtedness) or any series of similar transactions, arrangements or relationships.

Beneficial ownership for purposes of paragraph (2) shall be determined as of a date that is no more than 120 days prior to the date of filing of this offering statement and using the same calculation described in Question 6 of this Question and Answer format.

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

Compute the amount of a related party's interest in any transaction without regard to the amount of the profit or loss involved in the transaction. Where it is not practicable to state the approximate amount of the interest, disclose the approximate amount involved in the transaction.

## FINANCIAL CONDITION OF THE ISSUER

27. Does the issuer have an operating history? No

28. Describe the financial condition of the issuer, including, to the extent material, liquidity, capital resources and historical results of operations. Cash in bank? Financial prospects? Any sales pending?

The company was formed 24 months ago and has received all operating expenses through shareholder contributions. There is currently no cash in the bank, financial prospects, or pending sales. We have a Distribution Agreement with Angel Studio that operates as follows:

- All revenues generated by content created by Dry Bar Unscripted, Inc. flows through Angel Studios.
- Angel Studios allocates 25% of gross revenues towards marketing Dry Bar Unscripted to new and existing audiences.
- Angel Studios recoups Dry Bar Unscripted for its per episode production costs.
- Any revenues left over are split 33.4% to Angel Studios and 66.6% to Dry Bar Unscripted

## INSTRUCTIONS TO QUESTION 28:

The discussion must cover each year for which financial statements are provided. Include a discussion of any known material changes or trends in the financial condition and results of operations of the issuer during any time period subsequent to the period for which financial statements are provided.

For issuers with no prior operating history, the discussion should focus on financial milestones and operational, liquidity and other challenges.

For issuers with an operating history, the discussion should focus on whether historical results and cash flows are representative of what investors should expect in the future.

Take into account the proceeds of the offering and any other known or pending sources of capital. Discuss how the proceeds from the offering will affect liquidity, whether receiving these funds and any other additional funds is necessary to the viability of the business, and how quickly the issuer anticipates using its available cash. Describe the other available sources of capital to the business, such as lines of credit or required contributions by shareholders.

References to the issuer in this Question 28 and these instructions refer to the issuer and its predecessors, if any.

## FINANCIAL INFORMATION

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

See attached Audited Financials

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

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

i. in connection with the purchase or sale of any security? No
ii. involving the making of any false filing with the Commission?

No

iii. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities?

No

2. Is any such person subject to any order, judgment or decree of any court of competent jurisdiction, entered within five years before the filing of the information required by Section 4A(b) of the Securities Act that, at the time of filing of this offering statement, restrains or enjoins such person from engaging or continuing to engage in any conduct or practice:

i. in connection with the purchase or sale of any security? No;
ii. involving the making of any false filing with the Commission?

No

iii. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities? No

3. Is any such person subject to a final order of a state securities commission (or an agency or officer of a state performing like functions); a state authority that supervises or examines banks, savings associations or credit unions; a state insurance commission (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the U.S. Commodity Futures Trading Commission; or the National Credit Union Administration that:

i. at the time of the filing of this offering statement bars the person from:
A. association with an entity regulated by such commission, authority, agency or officer?

No

B. engaging in the business of securities, insurance or banking?

No

C. engaging in savings association or credit union activities?

No

ii. constitutes a final order based on a violation of any law or regulation that prohibits fraudulent, manipulative or deceptive conduct and for which the order was entered within the 10-year period ending on the date of the filing of this offering statement? No

4. Is any such person subject to an order of the Commission entered pursuant to Section 15(b) or 15B(c) of the Exchange Act or Section 203(e) or (f) of the Investment Advisers Act of 1940 that, at the time of the filing of this offering statement:

i. suspends or revokes such person's registration as a broker, dealer, municipal securities dealer, investment adviser or funding portal ? No
ii. places limitations on the activities, functions or operations of such person?

No

iii. bars such person from being associated with any entity or from participating in the offering of any penny stock ? No

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

i. any scienter-based anti-fraud provision of the federal securities laws, including without limitation Section 17(a)(1) of the Securities Act, Section 10(b) of the

Exchange Act, Section 15(c)(1) of the Exchange Act and Section 206(1) of the Investment Advisers Act of 1940 or any other rule or regulation thereunder?

No

ii. Section 5 of the Securities Act? No

6. Is any such person suspended or expelled from membership in, or suspended or barred from association with a member of, a registered national securities exchange or a registered national or affiliated securities association for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade?

No

7. Has any such person filed (as a registrant or issuer), or was any such person or was any such person named as an underwriter in, any registration statement or Regulation A offering statement filed with the Commission that, within five years before the filing of this offering statement, was the subject of a refusal order, stop order, or order

suspending the Regulation A exemption, or is any such person, at the time of such filing, the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued?

No

8. Is any such person subject to a United States Postal Service false representation order entered within five years before the filing of the information required by Section 4A(b) of the Securities Act, or is any such person, at the time of filing of this offering

statement, subject to a temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property through the mail by means of false representations?

No

**If you would have answered “Yes” to any of these questions had the conviction, order, judgment, decree, suspension, expulsion or bar occurred or been issued after May 16, 2016, then you are NOT eligible to rely on this exemption under Section 4(a)(6) of the Securities Act.**

**INSTRUCTIONS TO QUESTION 30:** Final order means a written directive or declaratory statement issued by a federal or state agency, described in Rule 503(a)(3) of Regulation Crowdfunding, under applicable statutory authority that provides for notice and an opportunity for hearing, which constitutes a final disposition or action by that federal or state agency.

No matters are required to be disclosed with respect to events relating to any affiliated issuer that occurred before the affiliation arose if the affiliated entity is not (i) in control of the issuer or (ii) under common control with the issuer by a third party that was in control of the affiliated entity at the time of such events.

**OTHER MATERIAL INFORMATION (any other relevant info) lawsuits? Large sales?**

31. In addition to the information expressly required to be included in this Form, include:

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

**INSTRUCTIONS TO QUESTION 31: If information is presented to investors in a format, media or other means not able to be reflected in text or portable document format, the issuer should include**

a. a description of the material content of such information;
b. a description of the format in which such disclosure is presented; and
c. in the case of disclosure in video, audio or other dynamic media or format, a transcript or description of such disclosure.

## **ONGOING REPORTING**

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

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

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

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

1. the issuer is required to file reports under Section 13(a) or Section 15(d) of the Exchange Act;
2. The issuer has filed, since its most recent sale of securities pursuant to this part, at least one annual report pursuant to this section and has fewer than 300 holders of record;
3. The issuer has filed, since its most recent sale of securities pursuant to this part, the annual reports required pursuant to this section for at least the three most recent years and has total assets that do not exceed $10,000,000;
4. the issuer or another party repurchases all of the securities issued in reliance on Section 4(a)(6) of the Securities Act, including any payment in full of debt securities or any complete redemption of redeemable securities; or
5. the issuer liquidates or dissolves its business in accordance with state law.

**Attachment 2:** `articles2.pdf`

State of Delaware
Secretary of State
Division of Corporations
Delivered 05:44 PM 01/17/2023
FILED 05:44 PM 01/17/2023
SR 20230164038 - File Number 7129243

# AMENDED AND RESTATED
CERTIFICATE OF INCORPORATION
OF
DRY BAR UNSCRIPTED, INC.

(Pursuant to Sections 242 and 245 of the
General Corporation Law of the State of Delaware)

Dry Bar Unscripted, Inc., a corporation organized and existing under and by virtue of the provisions of the General Corporation Law of the State of Delaware (the “General Corporation Law”),

**DOES HEREBY CERTIFY:**

1. That the name of this corporation is Dry Bar Unscripted, Inc., and that this corporation was originally incorporated pursuant to the General Corporation Law on November 9, 2022 under the name “Dry Bar Unscripted, Inc.”

2. That the Board of Directors duly adopted resolutions proposing to amend and restate the Certificate of Incorporation of this corporation, declaring said amendment and restatement to be advisable and in the best interests of this corporation and its stockholders, and authorizing the appropriate officers of this corporation to solicit the consent of the stockholders therefor, which resolution setting forth the proposed amendment and restatement is as follows:

**RESOLVED**, that the Certificate of Incorporation of this corporation be amended and restated in its entirety to read as follows:

**FIRST:** The name of this corporation is “Dry Bar Unscripted, Inc.” (the “Corporation”).

**SECOND:** The address of the registered office of the Corporation in the State of Delaware is 300 Creek View Road, Suite 209, in the City of Newark, County of New Castle, 19711. The name of its registered agent at such address is Universal Registered Agents, Inc.

**THIRD:** The nature of the business or purposes to be conducted or promoted is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law.

**FOURTH:** The total number of shares of all classes of stock which the Corporation shall have authority to issue is (i) 25,000,000 shares of Common Stock, $0.00001 par value per share (“Common Stock”), and (ii) 10,100,000 shares of Preferred Stock, $0.00001 par value per share (“Preferred Stock”).

The following is a statement of the designations and the powers, privileges and rights, and the qualifications, limitations or restrictions thereof in respect of each class of capital stock of the Corporation.

# A. COMMON STOCK

1. General. The voting, dividend and liquidation rights of the holders of the Common Stock are subject to and qualified by the rights, powers and preferences of the holders of the Preferred Stock set forth herein.
2. Voting. The holders of the Common Stock are entitled to one vote for each share of Common Stock held at all meetings of stockholders (and written actions in lieu of meetings). There shall be no cumulative voting.

# B. PREFERRED STOCK

All shares of the authorized and unissued Preferred Stock of the Corporation are hereby designated "Series A Preferred Stock" with the following rights, preferences, powers, privileges and restrictions, qualifications and limitations. Unless otherwise indicated, references to "sections" or "subsections" in this Part B of this Article Fourth refer to sections and subsections of Part B of this Article Fourth.

# 1. Dividends.

The Corporation shall not declare, pay or set aside any dividends on shares of any other class or series of capital stock of the Corporation (other than dividends on shares of Common Stock payable in shares of Common Stock) unless (in addition to the obtaining of any consents required elsewhere in this Amended and Restated Certificate of Incorporation) the holders of any shares of Series A Preferred Stock then outstanding have received aggregate dividends (aggregated for each share across all distributions and dividends and liquidation payouts paid on each such share beginning on the date each such share is first issued by the Corporation) in an amount at least equal to 1.2x the applicable Original Issue Price of such share of Series A Preferred Stock (the "Series A Preferred Dividend"). After the Series A Preferred Dividend has been paid on each outstanding share of Series A Preferred Stock, then any dividends declared by the Corporation shall be paid out when and as declared pari passu to all holders of Common Stock and Preferred Stock (on an as-converted basis). The "Original Issue Price" shall mean, with respect to the Series A Preferred Stock, $0.50 per share, subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series A Preferred Stock.

# 2. Liquidation, Dissolution or Winding Up; Certain Mergers, Consolidations and Asset Sales.

2.1 Preferential Payments to Holders of Series A Preferred Stock. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of shares of Series A Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders or, in the case of a Deemed Liquidation Event (as defined below), out of the consideration payable to stockholders in such Deemed Liquidation Event or the Available Proceeds (as defined below), before any payment shall be made to the holders of Common Stock by reason of their ownership thereof, an amount per share equal to 1.2x the applicable Original Issue Price, minus any amounts that have been paid towards the Series A Preferred Dividend for such share (the "Series A Liquidation Amount") (for purposes of clarification, if the Series A Preferred Dividend has been paid in full, then the

Series A Liquidation Preference shall be zero). If upon any such liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of Series A Preferred Stock the full amount to which they shall be entitled under this Subsection 2.1, the holders of shares of Series A Preferred Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full.

2.2 Distribution of Remaining Assets. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, after the payment in full of all Series A Liquidation Amounts required to be paid to the holders of shares of Series A Preferred Stock, the remaining assets of the Corporation available for distribution to its stockholders or, in the case of a Deemed Liquidation Event, the consideration not payable to the holders of shares of Series A Preferred Stock pursuant to Section 2.1 or the remaining Available Proceeds, as the case may be, shall be distributed among the holders of the shares of Series A Preferred Stock and Common Stock, pro rata based on the number of shares held by each such holder, treating for this purpose all such securities as if they had been converted to Common Stock pursuant to the terms of this Amended and Restated Certificate of Incorporation immediately prior to such liquidation, dissolution or winding up of the Corporation. The aggregate amount which a holder of a share of Series A Preferred Stock is entitled to receive under Subsections 2.1 and 2.2 is hereinafter referred to as the "Series A Liquidation Amount."

# 2.1 Deemed Liquidation Events.

2.1.1 Definition. Each of the following events shall be considered a "Deemed Liquidation Event" unless the holders of at least a majority of the outstanding shares of Series A Preferred Stock (the "Requisite Holders") elect otherwise by written notice sent to the Corporation at least 15 days prior to the effective date of any such event:

(a) a merger or consolidation in which

(i) the Corporation is a constituent party or
(ii) a subsidiary of the Corporation is a constituent party and the Corporation issues shares of its capital stock pursuant to such merger or consolidation,

except any such merger or consolidation involving the Corporation or a subsidiary in which the shares of capital stock of the Corporation outstanding immediately prior to such merger or consolidation continue to represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the capital stock of (1) the surviving or resulting corporation; or (2) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following such merger or consolidation, the parent corporation of such surviving or resulting corporation; or

(b) (1) the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by the Corporation or any

subsidiary of the Corporation of all or substantially all the assets of the Corporation and its subsidiaries taken as a whole, or (2) the sale or disposition (whether by merger, consolidation or otherwise, and whether in a single transaction or a series of related transactions) of one or more subsidiaries of the Corporation if substantially all of the assets of the Corporation and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of the Corporation.

### 2.1.2 Effecting a Deemed Liquidation Event.

(a) The Corporation shall not have the power to effect a Deemed Liquidation Event referred to in Subsection 2.3.1(a)(i) unless the agreement or plan of merger or consolidation for such transaction (the “Merger Agreement”) provides that the consideration payable to the stockholders of the Corporation in such Deemed Liquidation Event shall be paid to the holders of capital stock of the Corporation in accordance with Subsections 2.1 and 2.2.

(b) In the event of a Deemed Liquidation Event referred to in Subsection 2.3.1(a)(ii) or 2.3.1(b), if the Corporation does not effect a dissolution of the Corporation under the General Corporation Law within ninety (90) days after such Deemed Liquidation Event, then (i) the Corporation shall send a written notice to each holder of Series A Preferred Stock no later than the ninetieth (90th) day after the Deemed Liquidation Event advising such holders of their right (and the requirements to be met to secure such right) pursuant to the terms of the following clause; (ii) to require the redemption of such shares of Series A Preferred Stock, and (iii) if the holders of at least a majority of the then outstanding shares of Series A Preferred Stock so request in a written instrument delivered to the Corporation not later than one hundred twenty (120) days after such Deemed Liquidation Event, the Corporation shall use the consideration received by the Corporation for such Deemed Liquidation Event (net of any retained liabilities associated with the assets sold or technology licensed, as determined in good faith by the Board of Directors of the Corporation), together with any other assets of the Corporation available for distribution to its stockholders, all to the extent permitted by Delaware law governing distributions to stockholders (the “Available Proceeds”), on the one hundred fiftieth (150th) day after such Deemed Liquidation Event, to redeem all outstanding shares of Series A Preferred Stock at a price per share equal to the Series A Liquidation Amount. Notwithstanding the foregoing, in the event of a redemption pursuant to the preceding sentence, if the Available Proceeds are not sufficient to redeem all outstanding shares of Series A Preferred Stock, the Corporation shall redeem a pro rata portion of each holder’s shares of Series A Preferred Stock to the fullest extent of such Available Proceeds, based on the respective amounts which would otherwise be payable in respect of the shares to be redeemed if the Available Proceeds were sufficient to redeem all such shares, and shall redeem the remaining shares as soon as it may lawfully do so under Delaware law governing distributions to stockholders. The provisions of Section 6 shall apply, with such necessary changes in the details thereof as are necessitated by the context, to the redemption of the Series A Preferred Stock pursuant to this Subsection 2.3.2(b). Prior to the distribution or redemption provided for in this Subsection 2.3.2(b), the Corporation shall not expend or dissipate the consideration received for such Deemed Liquidation Event, except to discharge expenses incurred in connection with such Deemed Liquidation Event or in the ordinary course of business.

2.1.3 Amount Deemed Paid or Distributed. The amount deemed paid or distributed to the holders of capital stock of the Corporation upon any such merger,

consolidation, sale, transfer, exclusive license, other disposition or redemption shall be the cash or the value of the property, rights or securities to be paid or distributed to such holders pursuant to such Deemed Liquidation Event.

2.1.4 Allocation of Escrow and Contingent Consideration. In the event of a Deemed Liquidation Event pursuant to Subsection 2.3.1(a)(i), if any portion of the consideration payable to the stockholders of the Corporation is payable only upon satisfaction of contingencies (the "Additional Consideration"), the Merger Agreement shall provide that (a) the portion of such consideration that is not Additional Consideration (such portion, the "Initial Consideration") shall be allocated among the holders of capital stock of the Corporation in accordance with Subsections 2.1 and 2.2 as if the Initial Consideration were the only consideration payable in connection with such Deemed Liquidation Event; and (b) any Additional Consideration which becomes payable to the stockholders of the Corporation upon satisfaction of such contingencies shall be allocated among the holders of capital stock of the Corporation in accordance with Subsections 2.1 and 2.2 after taking into account the previous payment of the Initial Consideration as part of the same transaction. For the purposes of this Subsection 2.3.4, consideration placed into escrow or retained as a holdback to be available for satisfaction of indemnification or similar obligations in connection with such Deemed Liquidation Event shall be deemed to be Initial Consideration.

# 3. Voting.

3.1 General. Shares of Series A Preferred Stock shall be deemed non-voting shares. On any matter presented to the stockholders of the Corporation for their action or consideration at any meeting of stockholders of the Corporation (or by written consent of stockholders in lieu of meeting), holders of outstanding shares of Series A Preferred Stock shall not be entitled to cast any votes per share of Series A Preferred Stock held by such holder. Holders of Series A Preferred Stock shall vote only on such matters as required by applicable law or otherwise required under this Certificate.
3.2 Election of Directors. The holders of record of the shares of Common Stock and of any other class or series of voting stock, exclusively and voting together as a single class, shall be entitled to elect the directors of the Corporation. At any meeting held for the purpose of electing a director, the presence in person or by proxy of the holders of a majority of the outstanding shares of the class or series entitled to elect such director shall constitute a quorum for the purpose of electing such director.
3.3 Series A Preferred Stock Protective Provisions. At any time when shares of Series A Preferred Stock are outstanding, the Corporation shall not amend, alter or repeal any provision of this Amended and Restated Certificate of Incorporation or Bylaws of the Corporation in a manner that adversely affects the powers, preferences or rights of the Series A Preferred Stock in a manner disproportionate to other classes of stock, either directly or indirectly by amendment, merger, consolidation or otherwise, without (in addition to any other vote required by law or this Amended and Restated Certificate of Incorporation) the written consent or affirmative vote of the Requisite Holders given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class, and any such act or transaction entered into without such consent or vote shall be null and void ab initio, and of no force or effect. For purposes of clarity, authorizing additional shares for issuance that dilute all classes of stock proportionately

shall not be deemed to adversely affect the Series A Preferred Stock disproportionate to other classes and thus will not require the consent of holders of Series A Preferred Stock.

# 4. Mandatory Conversion.

4.1 Trigger Events. Upon the closing of the sale of shares of Common Stock to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended, and in connection with such offering the Common Stock is listed for trading on the Nasdaq Stock Market's National Market, the New York Stock Exchange or another exchange or marketplace approved the Board of Directors (the time of such closing is referred to herein as the "Mandatory Conversion Time"), then (i) all outstanding shares of Series A Preferred Stock shall automatically be converted into shares of Common Stock, at the then effective conversion rate as calculated pursuant to Subsection 4.3, and (ii) such shares may not be reissued by the Corporation.

4.2 Procedural Requirements. All holders of record of shares of Series A Preferred Stock shall be sent written notice of the Mandatory Conversion Time and the place designated for mandatory conversion of all such shares of Series A Preferred Stock pursuant to this Section 5. Such notice need not be sent in advance of the occurrence of the Mandatory Conversion Time. Upon receipt of such notice, each holder of shares of Series A Preferred Stock in certificated form shall surrender his, her or its certificate or certificates for all such shares (or, if such holder alleges that such certificate has been lost, stolen or destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Corporation to indemnify the Corporation against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of such certificate) to the Corporation at the place designated in such notice. If so required by the Corporation, any certificates surrendered for conversion shall be endorsed or accompanied by written instrument or instruments of transfer, in form satisfactory to the Corporation, duly executed by the registered holder or by his, her or its attorney duly authorized in writing. All rights with respect to the Series A Preferred Stock converted pursuant to Subsection 5.1, including the rights, if any, to receive notices and vote (other than as a holder of Common Stock), will terminate at the Mandatory Conversion Time (notwithstanding the failure of the holder or holders thereof to surrender any certificates at or prior to such time), except only the rights of the holders thereof, upon surrender of any certificate or certificates of such holders (or lost certificate affidavit and agreement) therefor, to receive the items provided for in the next sentence of this Subsection 5.2. As soon as practicable after the Mandatory Conversion Time and, if applicable, the surrender of any certificate or certificates (or lost certificate affidavit and agreement) for Series A Preferred Stock, the Corporation shall (a) issue and deliver to such holder, or to his, her or its nominees, a certificate or certificates for the number of full shares of Common Stock issuable on such conversion in accordance with the provisions hereof and (b) pay cash as provided in Subsection 4.2 in lieu of any fraction of a share of Common Stock otherwise issuable upon such conversion and the payment of any declared but unpaid dividends on the shares of Series A Preferred Stock converted. Such converted Series A Preferred Stock shall be retired and cancelled and may not be reissued as shares of such series, and the Corporation may thereafter take such appropriate action (without the need for stockholder action) as may be necessary to reduce the authorized number of shares of Series A Preferred Stock accordingly.

4.3 Conversion Ratio. Each share of Series A Preferred Stock shall be convertible without the payment of additional consideration by the holder thereof into such number of fully paid and non-assessable shares of Common Stock as is determined by dividing the

applicable Original Issue Price by the Series A Conversion Price (as defined below) in effect at the time of conversion. The "Series A Conversion Price" shall initially be equal to the applicable Original Issue Price. Such initial Series A Conversion Price, and the rate at which shares of Series A Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided below.

4.3.1 Adjustment for Stock Splits and Combinations. If the Corporation shall at any time or from time to time after the Series A Original Issue Date effect a subdivision of the outstanding Common Stock, the Series A Conversion Price in effect immediately before that subdivision shall be proportionately decreased so that the number of shares of Common Stock issuable on conversion of each share of such series shall be increased in proportion to such increase in the aggregate number of shares of Common Stock outstanding. If the Corporation shall at any time or from time to time after the Series A Original Issue Date combine the outstanding shares of Common Stock, the Series A Conversion Price in effect immediately before the combination shall be proportionately increased so that the number of shares of Common Stock issuable on conversion of each share of such series shall be decreased in proportion to such decrease in the aggregate number of shares of Common Stock outstanding. Any adjustment under this subsection shall become effective at the close of business on the date the subdivision or combination becomes effective.

4.3.2 Adjustment for Certain Dividends and Distributions. In the event the Corporation at any time or from time to time after the Series A Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable on the Common Stock in additional shares of Common Stock, then and in each such event the Series A Conversion Price in effect immediately before such event shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the Series A Conversion Price then in effect by a fraction:

(1) the numerator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and
(2) the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution.

Notwithstanding the foregoing (a) if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Series A Conversion Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Series A Conversion Price shall be adjusted pursuant to this subsection as of the time of actual payment of such dividends or distributions; and (b) that no such adjustment shall be made if the holders of Series A Preferred Stock simultaneously receive a dividend or other distribution of shares of Common Stock in a number equal to the number of shares of Common Stock as they would have received if all outstanding shares of Series A Preferred Stock had been converted into Common Stock on the date of such event.

4.3.3 Adjustments for Other Dividends and Distributions. In the event the Corporation at any time or from time to time after the Series A Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in securities of the Corporation (other than a distribution of shares of Common Stock in respect of outstanding shares of Common Stock) or in other property and the provisions of Section 1 do not apply to such dividend or distribution, then and in each such event the holders of Series A Preferred Stock shall receive, simultaneously with the distribution to the holders of Common Stock, a dividend or other distribution of such securities or other property in an amount equal to the amount of such securities or other property as they would have received if all outstanding shares of Series A Preferred Stock had been converted into Common Stock on the date of such event.

4.3.4 Adjustment for Merger or Reorganization, etc. Subject to the provisions of Subsection 2.3, if there shall occur any reorganization, recapitalization, reclassification, consolidation or merger involving the Corporation in which the Common Stock (but not the Series A Preferred Stock) is converted into or exchanged for securities, cash or other property (other than a transaction covered by Subsections 4.4, 4.6 or 4.7), then, following any such reorganization, recapitalization, reclassification, consolidation or merger, each share of Series A Preferred Stock shall thereafter be convertible in lieu of the Common Stock into which it was convertible prior to such event into the kind and amount of securities, cash or other property which a holder of the number of shares of Common Stock of the Corporation issuable upon conversion of one share of Series A Preferred Stock immediately prior to such reorganization, recapitalization, reclassification, consolidation or merger would have been entitled to receive pursuant to such transaction; and, in such case, appropriate adjustment (as determined in good faith by the Board of Directors of the Corporation) shall be made in the application of the provisions in this Section 4 with respect to the rights and interests thereafter of the holders of the Series A Preferred Stock, to the end that the provisions set forth in this Section 4 (including provisions with respect to changes in and other adjustments of the Series A Conversion Price) shall thereafter be applicable, as nearly as reasonably may be, in relation to any securities or other property thereafter deliverable upon the conversion of the Series A Preferred Stock.

5. Redeemed or Otherwise Acquired Shares. Any shares of Series A Preferred Stock that are redeemed or otherwise acquired by the Corporation or any of its subsidiaries shall be automatically and immediately cancelled and retired and shall not be reissued, sold or transferred. Neither the Corporation nor any of its subsidiaries may exercise any voting or other rights granted to the holders of Series A Preferred Stock following redemption.
6. Waiver. Any of the rights, powers, preferences and other terms of the Series A Preferred Stock set forth herein may be waived on behalf of all holders of Series A Preferred Stock by the affirmative written consent or vote of the holders of at least a majority of the shares of Series A Preferred Stock then outstanding.
7. Notices. Any notice required or permitted by the provisions of this Article Fourth to be given to a holder of shares of Series A Preferred Stock shall be mailed, postage prepaid, to the post office address last shown on the records of the Corporation, or given by electronic communication in compliance with the provisions of the General Corporation Law, and shall be deemed sent upon such mailing or electronic transmission.

FIFTH: Subject to any additional vote required by this Amended and Restated Certificate of Incorporation or Bylaws, in furtherance and not in limitation of the powers conferred by statute, the Board of Directors is expressly authorized to make, repeal, alter, amend and rescind any or all of the Bylaws of the Corporation.

SIXTH: Subject to any additional vote required by this Amended and Restated Certificate of Incorporation, the number of directors of the Corporation shall be determined in the manner set forth in the Bylaws of the Corporation. Each director shall be entitled to one vote on each matter presented to the Board of Directors.

SEVENTH: Elections of directors need not be by written ballot unless the Bylaws of the Corporation shall so provide.

EIGHTH: Meetings of stockholders may be held within or without the State of Delaware, as the Bylaws of the Corporation may provide. The books of the Corporation may be kept outside the State of Delaware at such place or places as may be designated from time to time by the Board of Directors or in the Bylaws of the Corporation.

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

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

TENTH: To the fullest extent permitted by applicable law, the Corporation is authorized to provide indemnification of (and advancement of expenses to) directors, officers and agents of the Corporation (and any other persons to which General Corporation Law permits the Corporation to provide indemnification) through Bylaw provisions, agreements with such agents or other persons, vote of stockholders or disinterested directors or otherwise, in excess of the indemnification and advancement otherwise permitted by Section 145 of the General Corporation Law.

Any amendment, repeal or modification of the foregoing provisions of this Article Tenth shall not (a) adversely affect any right or protection of any director, officer or other agent of the Corporation existing at the time of such amendment, repeal or modification or (b) increase the liability of any director of the Corporation with respect to any acts or omissions of such director, officer or agent occurring prior to, such amendment, repeal or modification.

ELEVENTH: The Corporation renounces, to the fullest extent permitted by law, any interest or expectancy of the Corporation in, or in being offered an opportunity to participate in, any Excluded Opportunity. An "Excluded Opportunity" is any matter, transaction or interest

that is presented to, or acquired, created or developed by, or which otherwise comes into the possession of (i) any director of the Corporation who is not an employee of the Corporation or any of its subsidiaries, or (ii) any holder of Series A Preferred Stock or any partner, member, director, stockholder, employee, affiliate or agent of any such holder, other than someone who is an employee of the Corporation or any of its subsidiaries (collectively, the persons referred to in clauses (i) and (ii) are "Covered Persons"), unless such matter, transaction or interest is presented to, or acquired, created or developed by, or otherwise comes into the possession of, a Covered Person expressly and solely in such Covered Person's capacity as a director of the Corporation while such Covered Person is performing services in such capacity. Any repeal or modification of this Article Eleventh will only be prospective and will not affect the rights under this Article Eleventh in effect at the time of the occurrence of any actions or omissions to act giving rise to liability. Notwithstanding anything to the contrary contained elsewhere in this Amended and Restated Certificate of Incorporation, the affirmative vote of the holders of at least a majority of the shares of Series A Preferred Stock the outstanding, will be required to amend or repeal, or to adopt any provisions inconsistent with this Article Eleventh.

TWELFTH: Unless the Corporation consents in writing to the selection of an alternative forum, the Court of Chancery in the State of Delaware shall be the sole and exclusive forum for any stockholder (including a beneficial owner) to bring (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action asserting a claim of breach of fiduciary duty owed by any director, officer or other employee of the Corporation to the Corporation or the Corporation's stockholders, (iii) any action asserting a claim against the Corporation, its directors, officers or employees arising pursuant to any provision of the Delaware General Corporation Law or the Corporation's certificate of incorporation or bylaws or (iv) any action asserting a claim against the Corporation, its directors, officers or employees governed by the internal affairs doctrine, except for, as to each of (i) through (iv) above, any claim as to which the Court of Chancery determines that there is an indispensable party not subject to the jurisdiction of the Court of Chancery (and the indispensable party does not consent to the personal jurisdiction of the Court of Chancery within ten days following such determination), which is vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery, or for which the Court of Chancery does not have subject matter jurisdiction. If any provision or provisions of this Article Twelfth shall be held to be invalid, illegal or unenforceable as applied to any person or entity or circumstance for any reason whatsoever, then, to the fullest extent permitted by law, the validity, legality and enforceability of such provisions in any other circumstance and of the remaining provisions of this Article Twelfth (including, without limitation, each portion of any sentence of this Article Twelfth containing any such provision held to be invalid, illegal or unenforceable that is not itself held to be invalid, illegal or unenforceable) and the application of such provision to other persons or entities and circumstances shall not in any way be affected or impaired thereby.

THIRTEENTH: For purposes of Section 500 of the California Corporations Code (to the extent applicable), in connection with any repurchase of shares of Common Stock permitted under this Amended and Restated Certificate of Incorporation from employees, officers, directors or consultants of the Corporation in connection with a termination of employment or services pursuant to agreements or arrangements approved by the Board of Directors (in addition to any other consent required under this Amended and Restated Certificate of Incorporation), such repurchase may be made without regard to any "preferential dividends arrears amount" or "preferential rights amount" (as those terms are defined in Section 500 of the California Corporations Code). Accordingly, for purposes of making any calculation under California

Corporations Code Section 500 in connection with such repurchase, the amount of any “preferential dividends arrears amount” or “preferential rights amount” (as those terms are defined therein) shall be deemed to be zero (0).

\* \* \*

3. That the foregoing amendment and restatement was approved by the holders of the requisite number of shares of this corporation in accordance with Section 228 of the General Corporation Law.

4. That this Certificate of Incorporation, which restates and integrates and further amends the provisions of this Corporation’s Certificate of Incorporation, has been duly adopted in accordance with Sections 242 and 245 of the General Corporation Law.

**IN WITNESS WHEREOF**, this Amended and Restated Certificate of Incorporation has been executed by a duly authorized officer of this corporation on this 17th day of January, 2023.

By: /s/ Zack Atherton President

**Attachment 3:** `bylaws.pdf`

# Dry Bar Unscripted, Inc.

(a Delaware Corporation)

\* \* \* \* \*

## BYLAWS

(adopted by the Board of Directors on Nov 9th, 2022)

| Company Information |  |
| --- | --- |
| Company Name: | Dry Bar Unscripted, Inc. |
| 'State of Organization': | Delaware |
| 'Entity Type': | Corporation |
| 'Governing Law': | Any applicable statutes and regulations governing the existence and governance of entities of the Entity Type in the State of Organization. |

### ARTICLE I. OFFICES.

**1.1 Registered Office.** The registered office of the corporation in the State of Organization shall be fixed in the corporation's Certificate of Incorporation, as the same may be amended from time to time, and may be changed from time to time in the discretion of the Board of Directors or as the business of the corporation may require.

**1.2 Other Offices.** The corporation shall also have and maintain an office or principal place of business at such place as may be established by the Board of Directors where the corporation is qualified to do business, and may also have offices at such other places, both within and without the State of Organization, as the Board of Directors may from time to time determine or the business of the corporation may require.

### ARTICLE II. STOCKHOLDER MATTERS.

**2.1 Registered Stockholders.** The corporation shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive dividends, and to vote as such owner, and shall not be bound to recognize any equitable or other claim to or interest in such share or shares on the part of any other person whether or not it shall have express or other notice thereof, except as otherwise provided by the laws of the State of Organization.

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## 2.2 Stockholder Meetings.

1. **Time and Location.** Meetings of the stockholders of the corporation may be held at such place, either within or without the State of Organization, as may be determined from time to time by resolution of the Board of Directors. The Board of Directors may, in its sole discretion, determine that the meeting shall not be held at any place, but may instead be held solely by means of remote communication as provided under the Governing Law.
2. **Annual Meetings.** The annual meeting of the stockholders of the corporation, for the purpose of election of directors and for such other business as may lawfully come before it, shall be held on such date and at such time as may be designated from time to time by the Board of Directors.
3. **Special Meetings.**
   a. Special meetings of the stockholders of the corporation may be called, for any purpose or purposes, by (i) the Chairman of the Board of Directors, (ii) the Chief Executive Officer or President of the corporation, (iii) the Board of Directors pursuant to a resolution adopted by directors representing a quorum of the Board of Directors, or (iv) by the holders of shares entitled to cast not less than 50% of the votes at the meeting, and shall be held at such place, on such date, and at such time as the Board of Directors shall fix.
   b. If a special meeting is properly called by any person or persons other than the Chairman of the Board of Directors, the Chief Executive Officer or the President of the corporation, or the Board of Directors of the corporation, the request shall be in writing, specifying the general nature of the business proposed to be transacted, and shall be delivered personally or sent by certified or registered mail, return receipt requested, or by telegraphic or other facsimile transmission to the Chairman of the Board of Directors, the Chief Executive Officer, or the Secretary of the corporation. No business may be transacted at such special meeting otherwise than specified in such notice. The Board of Directors shall determine the time and place of such special meeting, which shall be held not less than thirty-five (35) nor more than one hundred twenty (120) days after the date of the receipt of the request. Upon determination of the time and place of the meeting, the officer receiving the request shall cause notice to be given to the stockholders entitled to vote at such meeting, in accordance with the provisions of these Bylaws. Nothing contained in this paragraph shall be construed as limiting, fixing, or affecting the time when a meeting of stockholders called by action of the Board of Directors may be held.
4. **Meeting Business.**
   a. Except as otherwise provided by statute, or by the Certificate of Incorporation or these Bylaws, in all matters other than the election of directors, the affirmative vote of a majority of shares present at the meeting and entitled to vote thereon shall be the duly authorized act of the stockholders, and directors shall be elected by a plurality of the votes of the shares present at the meeting and entitled to vote thereon. Except where otherwise provided by statute or by the Certificate of Incorporation or these Bylaws, the affirmative vote of the majority (plurality, in the case of the election of directors) of shares of such class or classes or series present at the meeting shall be the act of such class or classes or series.
   b. At each stockholder meeting, only such business that has been properly brought before the meeting shall be conducted. Business may be properly brought before the meeting (i) when such

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business has been identified in the corporation's notice of such stockholder meeting; (ii) by or at the direction of the Board of Directors; or (iii) by a Stockholder Motion brought by a stockholder entitled to vote on such matters in such meeting.

c. "Stockholder Motion" shall mean any motion to conduct business brought by a stockholder pursuant to the following procedure: (i) the stockholder has given notice of such motion in writing to the Secretary of the corporation in advance of the meeting and no more than 7 days after delivery of the meeting notice by the corporation.

5. Notice of Meetings.

a. Except as otherwise provided by law, all notices of each meeting of stockholders shall be in writing or electronic transmission and shall be given not less than ten (10) nor more than sixty (60) days before the date of the meeting to each stockholder entitled to vote at such meeting, such notice to specify the place (if any), date and time, and, in the case of special meetings, the purpose or purposes of the meeting, and the means of remote communications (if any) by which stockholders and proxyholders may be deemed to be present in person and vote at any such meeting.
b. Written notice of any meeting of stockholders, if mailed, is given when deposited in the United States mail, postage prepaid, directed to the stockholder at his address as it appears on the records of the corporation. Without limiting the manner by which notice otherwise may be given effectively to stockholders, any notice to stockholders may be given by electronic mail or other electronic transmission, in accordance with applicable provisions of the Governing Law. An affidavit of the secretary or an assistant secretary or of the transfer agent of the corporation that the notice has been given shall, in the absence of fraud, be prima facie evidence of the facts stated therein.
c. Notice of the time, place (if any), and purpose of any meeting of stockholders may be waived in writing, signed by the person entitled to notice thereof or by electronic transmission by such person, either before or after such meeting, and will be automatically waived by any stockholder in attendance thereat (whether in person, by remote communication (if allowed), or by proxy), except when the stockholder attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Any stockholder so waiving notice of such meeting shall be bound by the proceedings of any such meeting in all respects as if due notice thereof had been given.

6. Meeting Organization.

a. At every meeting of stockholders, the Chairman of the Board of Directors, or, if a Chairman has not been appointed or is absent, the Chief Executive Officer, or, if the Chief Executive Officer is absent, a chairman of the meeting chosen by a majority in interest of the stockholders entitled to vote, present in person or by proxy, shall act as chairman. The acting meeting chairman shall call each meeting to order, take votes, count results, and supervise all business at the meeting. The Secretary, or, in his or her absence, an Assistant Secretary directed to do so by the Chief Executive Officer, shall act as secretary of the meeting and shall take minutes of the meeting.
b. The Board of Directors shall be entitled to make such rules or regulations for the conduct of meetings of stockholders as it shall deem necessary, appropriate or convenient. Subject to such rules and regulations of the Board of Directors, if any, the chairman of the meeting shall have the

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right and authority to prescribe such rules, regulations and procedures and to do all such acts as, in the judgment of such chairman, are necessary, appropriate or convenient for the proper conduct of the meeting, including, without limitation, establishing an agenda or order of business for the meeting, rules and procedures for maintaining order at the meeting and the safety of those present, limitations on participation in such meeting to stockholders of record of the corporation and their duly authorized and constituted proxies and such other persons as the chairman shall permit, restrictions on entry to the meeting after the time fixed for the commencement thereof, limitations on the time allotted to questions or comments by participants and regulation of the opening and closing of the polls for balloting on matters which are to be voted on by ballot.

c. The date and time of the opening and closing of the polls for each matter upon which the stockholders will vote at the meeting shall be announced at the meeting. Unless and to the extent determined by the Board of Directors or the chairman of the meeting, meetings of stockholders shall not be required to be held in accordance with rules of parliamentary procedure.

# 7. Meeting Attendance; Quorum.

a. For purposes of these Bylaws, a stockholder shall be deemed to be present at a meeting if such stockholder is present in person, is present via remote communication (unless such remote attendance is expressly prohibited in the meeting notice), or is represented by duly authorized proxy at such meeting.
b. At all meetings of the stockholders, the presence of holders of a majority of the shares of stock issued and outstanding and entitled to vote thereat shall constitute a quorum, except as otherwise provided by statute or by the certificate of incorporation. No votes may be taken at any stockholder meeting without the presence of a quorum.
c. Where a separate vote by a class or classes or series is required, except where otherwise provided by the statute or by the Certificate of Incorporation or these Bylaws, the presences of holders of a majority of the outstanding shares of such class or classes or series entitled to vote thereat shall constitute a quorum entitled to take action with respect to that vote on that matter.
d. In the absence of a quorum, any meeting of stockholders may be adjourned, from time to time, either by the chairman of the meeting or by vote of the holders of a majority of the shares represented thereat, but no other business shall be transacted at such meeting.
e. The stockholders present at a duly called or convened meeting, at which a quorum is present, may continue to transact business until adjournment, notwithstanding the withdrawal of enough stockholders to leave less than a quorum.

# 8. Adjournment and Notice of Adjourned Meetings.

a. Any meeting of stockholders, whether annual or special, may be adjourned from time to time either by the chairman of the meeting or by the vote of the holders of a majority of the shares present. When a meeting is adjourned to another time or place, if any, notice need not be given of the adjourned meeting if the time and place, if any, thereof are announced at the meeting at which the adjournment is taken. At the adjourned meeting, the corporation may transact any business which might have been transacted at the original meeting pursuant to the Certificate of Incorporation, these Bylaws or applicable law. If the adjournment is for more than thirty (30) days or if after the adjournment a new record date is fixed for the adjourned meeting, a notice of

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the adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting.

9. Stockholder Action Without Meeting.

a. Unless otherwise provided in the Certificate of Incorporation, any action required by statute to be taken at any annual or special meeting of the stockholders, or any action which may be taken at any annual or special meeting of the stockholders, may be taken without a meeting, without prior notice and without a vote, if a consent in writing, or by electronic transmission setting forth the action so taken, shall be signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted.
b. Every written consent or electronic transmission shall bear the date of signature of each stockholder who signs the consent, and no written consent or electronic transmission shall be effective to take the corporate action referred to therein unless, within sixty (60) days of the earliest dated consent delivered to the corporation in the manner herein required, written consents or electronic transmissions signed by a sufficient number of stockholders to take action are delivered to the corporation by delivery to its registered office in the State of Organization, its principal place of business or an officer or agent of the corporation having custody of the book in which proceedings of meetings of stockholders are recorded. Delivery made to a corporation's registered office shall be by hand or by certified or registered mail, return receipt requested.
c. Prompt notice of the taking of the corporate action without a meeting by less than unanimous written consent shall be given to those stockholders who have not consented in writing or by electronic transmission and who, if the action had been taken at a meeting, would have been entitled to notice of the meeting if the record date for such meeting had been the date that written consents signed by a sufficient number of stockholders to take action were delivered to the corporation. If the action to which the stockholders consent is such as would have required the filing of a certificate under any section of the Governing Law if such action had been voted on by stockholders at a meeting thereof, then the certificate filed under such section shall state, in lieu of any statement required by such section concerning any vote of stockholders, that written consent has been given in accordance with the applicable section of the Governing Law.
d. An electronic mail, facsimile or other electronic transmission consenting to an action to be taken and transmitted by a stockholder or proxyholder, shall be deemed to be written, signed and dated for the purposes of this Section, provided that any such electronic mail, facsimile or other electronic transmission sets forth or is delivered with information from which the corporation can determine (i) that the electronic mail, facsimile or other electronic transmission was transmitted by the stockholder or proxyholder or by a person or persons authorized to act for the stockholder and (ii) the date on which such stockholder or proxyholder or authorized person or persons transmitted such electronic mail, facsimile or electronic transmission. The date on which such electronic mail, facsimile or electronic transmission is transmitted shall be deemed to be the date on which such consent was signed. No consent given by electronic mail, facsimile or other electronic transmission shall be deemed to have been delivered until such consent is reproduced in paper form and until such paper form shall be delivered to the corporation by delivery to its registered office in the State of Organization, its principal place of business or an officer or agent

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of the corporation having custody of the book in which proceedings of meetings of stockholders are recorded. Delivery made to a corporation's registered office shall be made by hand or by certified or registered mail, return receipt requested. Notwithstanding the foregoing limitations on delivery, consents given by electronic mail, facsimile or other electronic transmission may be otherwise delivered to the principal place of business of the corporation or to an officer or agent of the corporation having custody of the book in which proceedings of meetings of stockholders are recorded if, to the extent and in the manner provided by resolution of the board of directors of the corporation. Any copy, facsimile or other reliable reproduction of a consent in writing may be substituted or used in lieu of the original writing for any and all purposes for which the original writing could be used, provided that such copy, facsimile or other reproduction shall be a complete reproduction of the entire original writing.

### 2.3 Establishing a Record Date for Stockholder Matters.

1. In the event of any action or occurrence where it is necessary that the corporation determine the stockholders entitled to notice of or to vote at any meeting of stockholders or any adjournment thereof, or entitled to express consent to corporate action in writing without a meeting, or entitled to receive payment of any dividend or other distribution or allotment of any rights, or entitled to exercise any rights in respect of any change, conversion or exchange of stock or for the purpose of any other lawful action, a record date shall be established (the "Record Date"), as follows:
   a. The Board of Directors may fix a Record Date, which Record Date shall not be more than 60 nor less than 10 days before the date of the applicable meeting, nor more than 60 days prior to any other corporate action with respect to stockholders;
   b. If the Board of Directors does not fix a Record Date, the record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business on the day preceding the day on which notice is given, or, if notice is waived, at the close of business on the day preceding the day on which the meeting is held;
   c. If the Board of Directors does not fix a Record Date, the record date for determining stockholders entitled to consent to corporate action in writing without a meeting, when no prior action by the Board of Directors is necessary, shall be the day on which the first written consent (including consent by electronic mail or other electronic transmission as permitted by law) is delivered to the corporation; or
   d. If the Board of Directors does not fix a Record Date, the record date for determining stockholders for any other purpose shall be at the close of business on the day on which the Board of Directors adopts the resolution relating thereto.
2. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting, if such adjournment is for 30 days or less; provided, however, that the Board of Directors may fix a new record date for the adjourned meeting.

### 2.4 Stockholder Voting Process.

1. **Votes per Share.** Except as may be otherwise provided in the certificate of incorporation, each stockholder shall be entitled to one vote for each share of voting stock held by such stockholder.

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No person entitled to vote at an election for directors may cumulate votes to which such person is entitled.

2. **Record Date.** For the purpose of determining those stockholders entitled to vote at any meeting of the stockholders, except as otherwise provided by law, only parties in whose names shares stand on the stock records of the corporation on the Record Date shall be entitled to vote at any meeting of stockholders.
3. **Voting Rolls.** The Secretary shall prepare and make, at least ten (10) days before every meeting of stockholders, a complete list of the stockholders entitled to vote at said meeting, arranged in alphabetical order, showing the address of each stockholder and the number of shares registered in the name of each stockholder. Such list shall be open to the examination of any stockholder, for any purpose germane to the meeting, on a reasonably accessible electronic network, provided that the information required to gain access to such list is provided with the notice of the meeting, or during ordinary business hours, at the principal place of business of the corporation. In the event that the corporation determines to make the list available on an electronic network, the corporation may take reasonable steps to ensure that such information is available only to stockholders of the corporation. The list shall be open to examination of any stockholder during the time of the meeting as provided by law.
4. **Manner of Voting.** Every person entitled to vote or execute consents shall have the right to do so either in person, by remote communication (if allowed), or by an agent or agents authorized by a proxy granted in accordance with Governing Law. An agent so appointed need not be a stockholder.
5. **Joint Owners of Stock.** If shares or other securities having voting power stand of record in the names of two (2) or more persons, whether fiduciaries, members of a partnership, joint tenants, tenants in common, tenants by the entirety, or otherwise, or if two (2) or more persons have the same fiduciary relationship respecting the same shares, unless the Secretary is given written notice to the contrary and is furnished with a copy of the instrument or order appointing them or creating the relationship wherein it is so provided, their acts with respect to voting (including giving consent) shall have the following effect: (a) if only one votes, his or her act binds all; (b) if more than one votes, the act of the majority so voting binds all; (c) if more than one votes, but the vote is evenly split on any particular matter, each faction may vote the securities in question proportionally. If the instrument filed with the Secretary shows that any such tenancy is held in unequal interests, a majority or even-split shall be a majority or even-split in interest.
6. **Proxies.** Each stockholder entitled to vote at a meeting of stockholders or to express consent or dissent to corporate action in writing without a meeting may authorize another person or persons to act for such stockholder by an instrument in writing or by an electronic transmission permitted by law filed with the secretary of the corporation, but no such proxy shall be voted or acted upon after three years from its date, unless the proxy provides for a longer period. A proxy shall be deemed signed if the stockholder's name is placed on the proxy (whether by manual signature, typewriting, facsimile, electronic or telegraphic transmission or otherwise) by the stockholder or the stockholder's attorney-in-fact. The revocability of a proxy that states on its face that it is irrevocable shall be governed by applicable provisions of the Governing Law.

## 2.5 Stock Certificates.

1. **Form and Execution of Certificates.** The shares of the corporation shall be represented by certificates,

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or shall be uncertificated, as determined by the Board of Directors from time to time. Certificates for the shares of stock, if any, of the corporation shall be in such form as is consistent with the Certificate of Incorporation and applicable law. Every holder of shares of stock in the corporation represented by certificate shall be entitled to have a certificate signed by or in the name of the corporation by any two authorized officers, including but not limited to the Chief Executive Officer, the President, the Chief Financial Officer, any Vice President, the Treasurer or Assistant Treasurer or the Secretary or Assistant Secretary, certifying the number of shares owned by him or her in the corporation. Any or all of the signatures on the certificate may be facsimiles or electronic signatures. In case any officer, transfer agent, or registrar who has signed or whose facsimile or electronic signature has been placed upon a certificate shall have ceased to be such officer, transfer agent, or registrar before such certificate is issued, it may be issued with the same effect as if he or she were such officer, transfer agent, or registrar at the date of issue.

2. **Lost Certificates.** A new certificate or certificates shall be issued in place of any certificate or certificates theretofore issued by the corporation alleged to have been lost, stolen, or destroyed, upon the making of an affidavit of that fact by the person claiming the certificate of stock to be lost, stolen, or destroyed. The corporation may require, as a condition precedent to the issuance of a new certificate or certificates, the owner of such lost, stolen, or destroyed certificate or certificates, or the owner's legal representative, to agree to indemnify the corporation in such manner as it shall require or to give the corporation a surety bond in such form and amount as it may direct as indemnity against any claim that may be made against the corporation with respect to the certificate alleged to have been lost, stolen, or destroyed.

## **2.6. Dividends to Stockholders.**

1. **Declaration of Dividends.** Dividends upon the capital stock of the corporation, subject to the provisions of the Certificate of Incorporation and applicable law, if any, may be declared by the Board of Directors pursuant to law at any regular or special meeting. Dividends may be paid in cash, in property, or in shares of the capital stock, subject to the provisions of the Certificate of Incorporation and applicable law.
2. **Dividend Reserve.** Before payment of any dividend, there may be set aside out of any funds of the corporation available for dividends such sum or sums as the Board of Directors from time to time, in their absolute discretion, think proper as a reserve or reserves to meet contingencies, or for equalizing dividends, or for repairing or maintaining any property of the corporation, or for such other purpose as the Board of Directors shall think conducive to the interests of the corporation, and the Board of Directors may modify or abolish any such reserve in the manner in which it was created.

## **ARTICLE III. DIRECTORS.**

**3.1 Powers.** The business and affairs of the corporation shall be managed by or under the direction of the Board of Directors, except as may be otherwise provided by Governing Law or by the Certificate of Incorporation. The Board of Directors has authority to act on behalf of the corporation and to authorize officers to act on behalf of the corporation.

### **3.2 Number of Directors; Term of Office.**

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1. 1. **Size of Board.** The authorized number of directors of the corporation shall be fixed by the Board of Directors from time to time. Directors need not be stockholders unless so required by the Certificate of Incorporation. If for any cause, the directors shall not have been elected at an annual meeting, they may be elected as soon thereafter as convenient.
2. 2. **Term of Directors.** Subject to the rights of the holders of any class or series of stock to elect additional directors under specified circumstances, directors shall be elected at each annual meeting of stockholders. Directors may be elected to serve until the next annual meeting of stockholders, until his or her successor is duly elected and qualified, or until his or her death, resignation or removal (or any combination of the foregoing). No decrease in the number of directors constituting the Board of Directors shall shorten the term of any incumbent director.
3. 3. **Vacancies.** Unless otherwise provided in the Certificate of Incorporation, and subject to the rights of the holders of any class or series of stock to elect specific directors under specified circumstances, any vacancies on the Board of Directors resulting from death, resignation, disqualification, removal or other causes and any newly created directorships resulting from any increase in the number of directors may be filled by the affirmative vote of a majority of the directors then in office, even though less than a quorum of the Board of Directors remain, or by a sole remaining director, or by stockholders acting pursuant to a special meeting or written consent and entitled to elect a director to such vacant seat; *provided, however*, that whenever the holders of any class or classes of stock or series thereof are entitled to elect one or more directors by the provisions of the Certificate of Incorporation, vacancies and newly created directorships of such class or classes or series shall be filled by a majority of the directors elected by such class or classes or series thereof then in office, or by a sole remaining director so elected, or by such stockholders. Any director elected in accordance with the preceding sentence shall hold office for the remainder of the full term of the director for which the vacancy was created or occurred and until such director's successor shall have been elected and qualified. A vacancy in the Board of Directors shall be deemed to exist under this Bylaw in the case of the death, removal or resignation of any director.
4. 4. **Resignation.** Any director may resign at any time by delivering his or her notice in writing or by electronic transmission to the Secretary, such resignation to specify whether it will be effective at a particular time, upon receipt by the Secretary or at the pleasure of the Board of Directors. If no such specification is made, it shall be deemed effective at the pleasure of the Board of Directors. When one or more directors shall resign from the Board of Directors, effective at a future date, a majority of the directors then in office, including those who have so resigned, shall have power to fill such vacancy or vacancies, the vote thereon to take effect when such resignation or resignations shall become effective, and each Director so chosen shall hold office for the unexpired portion of the term of the Director whose place shall be vacated and until his successor shall have been duly elected and qualified.
5. 5. **Removal.** Subject to any limitations imposed by applicable law, the Board of Directors or any director may be removed from office at any time (i) with cause by the affirmative vote of the holders of a majority of the voting power of all then-outstanding shares of capital stock of the corporation entitled to vote generally at an election of directors or (ii) without cause by the affirmative vote of the holders of a majority of the voting power of all then-outstanding shares of capital stock of the corporation, entitled to elect such director.

### 3.3 Director Meetings.

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1. **Regular Meetings.** Unless otherwise restricted by the Certificate of Incorporation, regular meetings of the Board of Directors may be held at any time or date and at any place within or without the State of Organization which has been designated by the Board of Directors and publicized among all directors, either orally or in writing, including a voice-messaging system or other system designated to record and communicate messages, facsimile, or by electronic mail or other electronic means. No further notice shall be required for a regular meeting of the Board of Directors.
2. **Special Meetings.**
   a. Unless otherwise restricted by the Certificate of Incorporation, special meetings of the Board of Directors may be held at any time and place within or without the State of Organization whenever called by the Chairman of the Board, the Chief Executive Officer (if a director), the President (if a director), or any director.
   b. Notice of the time and place of all special meetings of the Board of Directors shall be orally or in writing, by telephone, including a voice messaging system or other system or technology designed to record and communicate messages, facsimile, telegraph or telex, or by electronic mail or other electronic means, during normal business hours, at least twenty-four (24) hours before the date and time of the meeting. If notice is sent by US mail, it shall be sent by first class mail, postage prepaid at least three (3) days before the date of the meeting. Notice of any meeting may be waived in writing or by electronic transmission at any time before or after the meeting and will be waived by any director by attendance thereat, except when the director attends the meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened.
3. **Remote Meeting Attendance.** Any member of the Board of Directors, or of any committee thereof, may participate in a meeting by means of conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other, and participation in a meeting by such means shall constitute presence in person at such meeting.
4. **Waiver of Notice.** The transaction of all business at any meeting of the Board of Directors, or any committee thereof, however called or noticed, or wherever held, shall be as valid as though a meeting had been duly held after regular call and notice, if a quorum be present and if, either before or after the meeting, each of the directors not present who did not receive notice shall sign a written waiver of notice or shall waive notice by electronic transmission. All such waivers shall be filed with the corporate records or made a part of the minutes of the meeting.
5. **Quorum and Voting.**
   a. Unless the Certificate of Incorporation requires a greater number, a quorum of the Board of Directors shall consist of a majority of the total number of directors then serving; *provided, however*, that such number shall never be less than one-third (1/3) of the total number of directors authorized except that when one director is authorized, then one director shall constitute a quorum. At any meeting, whether a quorum be present or otherwise, a majority of the directors present may adjourn from time to time until the time fixed for the next regular meeting of the Board of Directors, without notice other than by announcement at the meeting. If the Certificate of Incorporation provides that one or more directors shall have more or less than one vote per director on any matter, every reference in this Section to a majority or other proportion of the directors shall refer to a majority or other proportion of the votes of the directors.

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b. At each meeting of the Board of Directors at which a quorum is present, all questions, motions, resolutions, actions and business shall be determined by the affirmative vote of a majority of the directors present, unless a different vote be required by law, the Certificate of Incorporation or these Bylaws.
6. **Organization.** At every meeting of the directors, the Chairman of the Board of Directors, or, if a Chairman has not been appointed or is absent, the Chief Executive Officer (if a director), or if the Chief Executive Officer is not a director or is absent, the President (if a director), or if the President is not a director or is absent, the most senior Vice President (if a director) or, in the absence of any such person, a chairman of the meeting chosen by a majority of the directors present, shall preside over the meeting. The Secretary, or in his or her absence, any Assistant Secretary directed to do so by the Chief Executive Officer or President, shall act as secretary of the meeting and shall keep minutes of each meeting.
7. **Action Without Meeting.** Unless otherwise restricted by the Certificate of Incorporation or these Bylaws, any action required or permitted to be taken at any meeting of the Board of Directors or of any committee thereof may be taken without a meeting, if all members of the Board of Directors or committee, as the case may be, consent thereto in writing or by electronic transmission, and such writing or writings or transmission or transmissions are filed with the minutes of proceedings of the Board of Directors or committee. Such filing shall be in paper form if the minutes are maintained in paper form and shall be in electronic form if the minutes are maintained in electronic form.

### 3.4 Committees.

1. **Executive Committee.** The Board of Directors may appoint an Executive Committee to consist of one (1) or more members of the Board of Directors. The Executive Committee, to the extent permitted by law and provided in the resolution of the Board of Directors, shall have and may exercise all the powers and authority of the Board of Directors in the management of the business and affairs of the corporation, and may authorize the seal of the corporation to be affixed to all papers which may require it; but no such committee shall have the power or authority in reference to (i) approving or adopting, or recommending to the stockholders, any action or matter expressly required by the Governing Law to be submitted to stockholders for approval, or (ii) adopting, amending or repealing any Bylaw of the corporation.
2. **Other Committees.** The Board of Directors may, from time to time, appoint such other committees as may be permitted by law. Such other committees appointed by the Board of Directors shall consist of one (1) or more members of the Board of Directors and shall have such powers and perform such duties as may be prescribed by the resolution or resolutions creating such committees, but in no event shall any such committee have the powers denied to the Executive Committee in these Bylaws.
3. **Term.** The Board of Directors, subject to any requirements of any outstanding series of Preferred Stock and the provisions of this Section, may at any time increase or decrease the number of members of a committee or terminate the existence of a committee. The membership of a committee member shall terminate on the date of his or her death or voluntary resignation from the committee or from the Board of Directors. The Board of Directors may at any time for any reason remove any individual committee member and the Board of Directors may fill any committee vacancy created by death, resignation, removal or increase in the number of members of the committee. The Board of Directors may designate one or more directors as alternate members of any committee, who may replace any absent or

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disqualified member at any meeting of the committee, and, in addition, in the absence or disqualification of any member of a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not he or they constitute a quorum, may unanimously appoint another member of the Board of Directors to act at the meeting in the place of any such absent or disqualified member.

4. **Meetings.** Unless the Board of Directors shall otherwise provide, regular meetings of the Executive Committee or any other committee appointed pursuant to this Section shall be held at such times and places as are determined by the Board of Directors, or by any such committee, and when notice thereof has been given to each member of such committee, no further notice of such regular meetings need be given thereafter. Special meetings of any such committee may be held at any place which has been determined from time to time by such committee, and may be called by any director who is a member of such committee, upon notice to the members of such committee of the time and place of such special meeting given in the manner provided for the giving of notice to members of the Board of Directors of the time and place of special meetings of the Board of Directors. Notice of any special meeting of any committee may be waived in writing at any time before or after the meeting and will be waived by any director by attendance thereat, except when the director attends such special meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Unless otherwise provided by the Board of Directors in the resolutions authorizing the creation of the committee, a majority of the authorized number of members of any such committee shall constitute a quorum for the transaction of business, and the act of a majority of those present at any meeting at which a quorum is present shall be the act of such committee.

**3.5 Fees and Compensation.** Directors shall be entitled to such compensation for their services as may be approved by the Board of Directors, including, if so approved, by resolution of the Board of Directors, a fixed sum and expenses of attendance, if any, for attendance at each regular or special meeting of the Board of Directors and at any meeting of a committee of the Board of Directors. Nothing herein contained shall be construed to preclude any director from serving the corporation in any other capacity as an officer, agent, employee, or otherwise and receiving compensation therefor.

## ARTICLE IV. OFFICERS.

### 4.1 Officers Designated.

1. 1. The officers of the corporation shall be appointed by the Board of Directors, subject to the rights (if any) of an officer under any contract of employment.
2. 2. The Board of Directors may appoint, or empower the chief executive officer or the president to appoint, such other officers and agents as the business of the corporation may require, each of whom shall hold office for such period, have such authority, and perform such duties as are provided in these bylaws or as the Board of Directors may from time to time determine.
3. 3. The officers of the corporation shall include, if and when designated by the Board of Directors, the Chief Executive Officer, the President, the Secretary, and other potential officers such as Vice Presidents, the Chief Financial Officer, the Treasurer, and the Controller, all of whom shall be elected at a meeting of the Board of Directors. The Board of Directors may also appoint one or more Assistant Secretaries,

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Assistant Treasurers, Assistant Controllers and such other officers and agents with such powers and duties as it shall deem necessary.

4. The Board of Directors may assign such additional titles to one or more of the officers as it shall deem appropriate. Any one person may hold any number of offices of the corporation at any one time unless specifically prohibited therefrom by law. The salaries and other compensation of the officers of the corporation shall be fixed by or in the manner designated by the Board of Directors.

### 4.2 Tenure and Duties of Officers.

1. 1. **General.** All officers shall hold office at the pleasure of the Board of Directors and until their successors shall have been duly elected and qualified, unless sooner removed. Any officer elected or appointed by the Board of Directors may be removed at any time by the Board of Directors.
2. 2. **Vacancies.** If the office of any officer becomes vacant for any reason, the vacancy may be filled by the Board of Directors, or by the Chief Executive Officer or other officer if so authorized by the Board of Directors.
3. 3. **Officers as Non-Employees.** Officers of the corporation need not be employees of the corporation, and officers should not be deemed to be employees of the corporation solely due to his or her role as an officer of the corporation.
4. 4. **Duties of Chairman of the Board of Directors.** The Chairman of the Board of Directors, when present, shall preside at all meetings of the stockholders and the Board of Directors. The Chairman of the Board of Directors shall perform other duties commonly incident to the office and shall also perform such other duties and have such other powers as the Board of Directors shall designate from time to time. If there is no Chief Executive Officer and no President, then the Chairman of the Board of Directors shall also serve as the Chief Executive Officer of the corporation and shall have the powers and duties so prescribed.
5. 5. **Duties of Chief Executive Officer.** The Chief Executive Officer shall preside at all meetings of the stockholders and (if a director) at all meetings of the Board of Directors, unless the Chairman of the Board of Directors has been appointed and is present. The Chief Executive Officer shall be the chief executive officer of the corporation and shall, subject to the control of the Board of Directors, have general supervision, direction and control of the business and officers of the corporation and shall act on the corporation's behalf with regards to day-to-day operations, including the hiring and firing of non-executive employees and entering into standard agreements and contracts on behalf of the corporation. The Chief Executive Officer shall perform other duties commonly incident to the office and shall also perform such other duties and have such other powers as the Board of Directors shall designate from time to time.
6. 6. **Duties of President.** In the absence or disability of the Chief Executive Officer or if the office of Chief Executive Officer is vacant, the President shall preside at all meetings of the stockholders and (if a director) at all meetings of the Board of Directors, unless the Chairman of the Board of Directors has been appointed and is present. If the office of Chief Executive Officer is vacant, the President shall be the chief executive officer of the corporation and shall, subject to the control of the Board of Directors, have all powers reserved for and granted to such office. The President shall perform other duties commonly incident to the office and shall also perform such other duties and have such other powers as the Board of Directors shall designate from time to time.

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1. 7. **Duties of Vice Presidents.** The Vice Presidents may assume and perform the duties of the President in the absence or disability of the President or whenever the office of President is vacant, or whenever so authorized by the President or Chief Executive Officer. The Vice Presidents shall perform other duties commonly incident to their office and shall also perform such other duties and have such other powers as the Board of Directors or the President shall designate from time to time.
2. 8. **Duties of Secretary.** The Secretary shall attend all meetings of the stockholders and of the Board of Directors and shall record all acts and proceedings thereof in the minute book of the corporation. The Secretary shall give notice in conformity with these Bylaws of all meetings of the stockholders and of all meetings of the Board of Directors and any committee thereof requiring notice. The Secretary shall perform all other duties provided for in these Bylaws and other duties commonly incident to the office and shall also perform such other duties and have such other powers as the Board of Directors shall designate from time to time. The Chief Executive Officer may direct any Assistant Secretary to assume and perform the duties of the Secretary in the absence or disability of the Secretary, and each Assistant Secretary shall perform other duties commonly incident to the office and shall also perform such other duties and have such other powers as the Board of Directors or the Chief Executive Officer shall designate from time to time.
3. 9. **Duties of Chief Financial Officer.** The Chief Financial Officer shall keep or cause to be kept the books of account of the corporation in a thorough and proper manner and shall render statements of the financial affairs of the corporation in such form and as often as required by the Board of Directors or the Chief Executive Officer. The Chief Financial Officer, subject to the order of the Board of Directors, shall have the custody of all funds and securities of the corporation. The Chief Financial Officer shall perform other duties commonly incident to his or her office and shall also perform such other duties and have such other powers as the Board of Directors or the Chief Executive Officer shall designate from time to time. The Chief Executive Officer may direct the Treasurer or any Assistant Treasurer, or the Controller or any Assistant Controller to assume and perform the duties of the Chief Financial Officer in the absence or disability of the Chief Financial Officer, and each Treasurer and Assistant Treasurer and each Controller and Assistant Controller shall perform other duties commonly incident to the office and shall also perform such other duties and have such other powers as the Board of Directors or the Chief Executive Officer shall designate from time to time.
4. 10. **Delegation of Authority.** In addition to any authority and duties outlined herein, the Board of Directors may from time to time delegate the powers or duties of the Board of Directors or of any officer to any other officer or agent, notwithstanding any provision hereof.
5. 11. **Resignations.** Any officer may resign at any time by giving notice in writing or by electronic transmission notice to the Board of Directors or to the Chief Executive Officer or to the President or to the Secretary. Any such resignation shall be effective when received by the person or persons to whom such notice is given, unless a later time is specified therein, in which event the resignation shall become effective at such later time. Unless otherwise specified in such notice, the acceptance of any such resignation shall not be necessary to make it effective. Any resignation shall be without prejudice to the rights, if any, of the corporation under any contract with the resigning officer.
6. 12. **Removal.** Any officer may be removed from office at any time, either with or without cause, by the affirmative vote of a majority of the directors in office at the time, or by the unanimous written or

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electronic consent of the directors in office at the time, or by any committee or superior officers upon whom such power of removal may have been conferred by the Board of Directors.

**4.3 Loans to Officers.** Except as otherwise prohibited under applicable law, the corporation may lend money to, or guarantee any obligation of, or otherwise assist any officer or other employee of the corporation or of its subsidiaries, including any officer or employee who is a Director of the corporation or its subsidiaries, whenever, in the judgment of the Board of Directors, such loan, guarantee or assistance may reasonably be expected to benefit the corporation. The loan, guarantee or other assistance may be with or without interest and may be unsecured, or secured in such manner as the Board of Directors shall approve, including, without limitation, a pledge of shares of stock of the corporation. Nothing in these Bylaws shall be deemed to deny, limit or restrict the powers of guaranty or warranty of the corporation at common law or under any statute.

**4.4 Execution of Corporate Instruments.**

1. The Board of Directors may, in its discretion, determine the method and designate the signatory officer or officers, or other person or persons, to execute on behalf of the corporation any corporate instrument or document, or to sign on behalf of the corporation the corporate name, or to enter into contracts on behalf of the corporation, except where otherwise provided by law or these Bylaws, and such execution or signature shall be binding upon the corporation. All checks and drafts drawn on banks or other depositaries of funds to the credit of the corporation or on special accounts of the corporation shall be signed by such person or persons as the Board of Directors shall authorize so to do. Unless authorized or ratified by the Board of Directors or within the agency power of an officer, no officer, agent or employee shall have any power or authority to bind the corporation by any contract or engagement or to pledge its credit or to render it liable for any purpose or for any amount.
2. All bonds, debentures and other corporate securities of the corporation, other than stock certificates, may be signed by the Chairman of the Board of Directors, the Chief Executive Officer, the President or any Vice President, or such other person as may be authorized by the Board of Directors, and the corporate seal impressed thereon or a facsimile of such seal imprinted thereon and attested by the signature of the Secretary or an Assistant Secretary, or the Chief Financial Officer or Treasurer or an Assistant Treasurer; *provided, however*, that where any such bond, debenture or other corporate security shall be authenticated by the manual signature, or where permissible facsimile signature, of a trustee under an indenture pursuant to which such bond, debenture or other corporate security shall be issued, the signatures of the persons signing and attesting the corporate seal on such bond, debenture or other corporate security may be the imprinted facsimile of the signatures of such persons. Interest coupons appertaining to any such bond, debenture or other corporate security, authenticated by a trustee as aforesaid, shall be signed by the Treasurer or an Assistant Treasurer of the corporation or such other person as may be authorized by the Board of Directors, or bear imprinted thereon the facsimile signature of such person. In case any officer who shall have signed or attested any bond, debenture or other corporate security, or whose facsimile signature shall appear thereon or on any such interest coupon, shall have ceased to be such officer before the bond, debenture or other corporate security so signed or attested shall have been delivered, such bond, debenture or other corporate security nevertheless may be adopted by the corporation and issued and delivered as though the person who signed the same or whose facsimile signature shall have been used thereon had not ceased to be such officer of the corporation.

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**4.5 Voting of Securities Owned by the Corporation.** All stock and other securities of other corporations owned or held by the corporation for itself, or for other parties in any capacity, shall be voted, and all proxies with respect thereto shall be executed, by the person authorized so to do by resolution of the Board of Directors, or, in the absence of such authorization, by the Chairman of the Board of Directors, the Chief Executive Officer, the President, or any Vice President.

## **ARTICLE V. INDEMNIFICATION.**

### **5.1 Indemnification of Directors, Executive Officers, Employees and Other Agents.**

1. **Directors and Executive Officers.** The corporation shall indemnify its directors and executive officers (for the purposes of this Article, “executive officers” shall have the meaning defined in Rule 3b-7 promulgated under the 1934 Act) to the fullest extent not prohibited by the Governing Law or any other applicable law; *provided, however*, that the corporation may modify the extent of such indemnification by individual contracts with its directors and executive officers; and, *provided, further*, that the corporation shall not be required to indemnify any director or executive officer in connection with any proceeding (or part thereof) initiated by such person unless (i) such indemnification is expressly required to be made by law, (ii) the proceeding was authorized by the Board of Directors of the corporation, (iii) such indemnification is provided by the corporation, in its sole discretion, pursuant to the powers vested in the corporation under the Governing Law or any other applicable law or (iv) such indemnification is otherwise required to be made hereunder.
2. **Other Officers, Employees and Other Agents.** The corporation shall have power to indemnify its other officers, employees and other agents as set forth in the Governing Law or any other applicable law. The Board of Directors shall have the power to delegate the determination of whether indemnification shall be given to any such person except executive officers to such officers or other persons as the Board of Directors shall determine.

### **5.2 Expenses.**

1. **Advance Payment.** The corporation shall advance to any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that such person is or was a director or executive officer of the corporation, or is or was serving at the request of the corporation as a director or executive officer of another corporation, partnership, joint venture, trust or other enterprise, prior to the final disposition of the proceeding, promptly following request therefor, all expenses incurred by any director or executive officer in connection with such proceeding; *provided, however*, that, if the Governing Law requires, an advancement of expenses incurred by a director or officer in his or her capacity as a director or officer (and not in any other capacity in which service was or is rendered by such indemnitee, including, without limitation, service to an employee benefit plan) shall be made only upon delivery to the corporation of an undertaking, by or on behalf of such indemnitee, to repay all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is no further right to appeal that such indemnitee is not entitled to be indemnified for such expenses under this Section or otherwise.
2. **Exclusions.** Notwithstanding the foregoing, unless otherwise determined pursuant to paragraph (e) of

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this Section, no advance shall be made by the corporation to an executive officer of the corporation (except by reason of the fact that such executive officer is or was a director of the corporation, in which event this paragraph shall not apply) in any action, suit or proceeding, whether civil, criminal, administrative or investigative, if a determination is reasonably and promptly made (i) by a majority vote of a quorum consisting of directors who were not parties to the proceeding, even if not a quorum, or (ii) by a committee of such directors designated by a majority of such directors, even though less than a quorum, or (iii) if there are no such directors, or such directors so direct, by independent legal counsel in a written opinion, that the facts known to the decision-making party at the time such determination is made demonstrate clearly and convincingly that such person acted in bad faith or in a manner that such person did not believe to be in or not opposed to the best interests of the corporation.

### **5.3 Enforcement.**

1. Without the necessity of entering into an express contract, all rights to indemnification and advances to directors and executive officers under this Section shall be deemed to be contractual rights and be effective to the same extent and as if provided for in a contract between the corporation and the director or executive officer. Any right to indemnification or advances granted by this Section to a director or executive officer or officer shall be enforceable by or on behalf of the person holding such right in any court of competent jurisdiction if (i) the claim for indemnification or advances is denied, in whole or in part, or (ii) no disposition of such claim is made within ninety (90) days of request therefor. The claimant in such enforcement action, if successful in whole or in part, shall be entitled to be paid also the expense of prosecuting the claim.
2. In connection with any claim for indemnification, the corporation shall be entitled to raise as a defense to any such action that the claimant has not met the standards of conduct that make it permissible under the Governing Law or any other applicable law for the corporation to indemnify the claimant for the amount claimed. In connection with any claim by an executive officer of the corporation (except in any action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that such executive officer is or was a director of the corporation) for advances, the corporation shall be entitled to raise as a defense as to any such action clear and convincing evidence that such person acted in bad faith or in a manner that such person did not believe to be in or not opposed to the best interests of the corporation, or with respect to any criminal action or proceeding that such person acted without reasonable cause to believe that his or her conduct was lawful. Neither the failure of the corporation (including its Board of Directors, independent legal counsel or its stockholders) to have made a determination prior to the commencement of such action that indemnification of the claimant is proper in the circumstances because he has met the applicable standard of conduct set forth in the Governing Law or any other applicable law, nor an actual determination by the corporation (including its Board of Directors, independent legal counsel or its stockholders) that the claimant has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that claimant has not met the applicable standard of conduct.

### **5.4 Miscellaneous Provisions Relating to Indemnification.**

1. **Non-Exclusivity of Rights.** The rights conferred on any person by this Section shall not be exclusive of any other right which such person may have or hereafter acquire under any applicable statute, provision

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of the Certificate of Incorporation, Bylaws, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in his or her official capacity and as to action in another capacity while holding office. The corporation is specifically authorized to enter into individual contracts with any or all of its directors, officers, employees or agents respecting indemnification and advances, to the fullest extent not prohibited by the Governing Law or any other applicable law.

1. 2. **Survival of Rights.** The rights conferred on any person by this Section shall continue as to a person who has ceased to be a director or executive officer and shall inure to the benefit of the heirs, executors and administrators of such a person.
2. 3. **Insurance.** To the fullest extent permitted by the Governing Law, or any other applicable law, the corporation, upon approval by the Board of Directors, may purchase insurance on behalf of any person required or permitted to be indemnified pursuant to this Section.
3. 4. **Amendments.** Any repeal or modification of this Section shall only be prospective and shall not affect the rights under this Bylaw in effect at the time of the alleged occurrence of any action or omission to act that is the cause of any proceeding against any agent of the corporation.
4. 5. **Saving Clause.** If this Section or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the corporation shall nevertheless indemnify each director and executive officer to the full extent not prohibited by any applicable portion of this Bylaw that shall not have been invalidated, or by any other applicable law. If this Section shall be invalid due to the application of the indemnification provisions of another jurisdiction, then the corporation shall indemnify each director and executive officer to the full extent under applicable law.
5. 6. **Certain Definitions.** For the purposes of this Section, the following definitions shall apply:
   1. a. The term “proceeding” shall be broadly construed and shall include, without limitation, the investigation, preparation, prosecution, defense, settlement, arbitration and appeal of, and the giving of testimony in, any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative.
   2. b. The term “expenses” shall be broadly construed and shall include, without limitation, court costs, attorneys’ fees, witness fees, fines, amounts paid in settlement or judgment and any other costs and expenses of any nature or kind incurred in connection with any proceeding.
   3. c. The term the “corporation” shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, and employees or agents, so that any person who is or was a director, officer, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, shall stand in the same position under the provisions of this Section with respect to the resulting or surviving corporation as he would have with respect to such constituent corporation if its separate existence had continued.
   4. d. References to a “director,” “executive officer,” “officer,” “employee,” or “agent” of the corporation shall include, without limitation, situations where such person is serving at the request of the corporation as, respectively, a director, executive officer, officer, employee, trustee or agent of another corporation, partnership, joint venture, trust or other enterprise.
   5. e. References to “other enterprises” shall include employee benefit plans; references to “fines” shall

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include any excise taxes assessed on a person with respect to an employee benefit plan; and references to “serving at the request of the corporation” shall include any service as a director, officer, employee or agent of the corporation which imposes duties on, or involves services by, such director, officer, employee, or agent with respect to an employee benefit plan, its participants, or beneficiaries; and a person who acted in good faith and in a manner he reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the corporation” as referred to in this Section.

# ARTICLE VI. TRANSFER RESTRICTIONS; RIGHT OF FIRST REFUSAL.

# 6.1 Restrictions on Transfer.

# 1. Transfer Notice; Consent Required.

a. Except for a Permitted Transfer, no holder of any of the shares of common stock of the corporation may sell, transfer, assign, pledge, or otherwise dispose of or encumber any of the shares of stock of the corporation or any right or interest therein, whether voluntarily or by operation of law, or by gift or otherwise (each, a “Transfer”) without (1) first, delivery of a written notice thereof to the corporation, including the name of the proposed transferee, the number of shares to be transferred, the proposed consideration, and all other material terms and conditions of the proposed transfer (a “Transfer Notice”), and (2) second, the duly authorized action of the Board of Directors approving such Transfer on behalf of the corporation.
b. The corporation may withhold consent to a Transfer (other than a Permitted Transfer) for any legitimate corporate purpose, as determined by the Board of Directors in its sole discretion. Examples of the basis for the corporation to withhold its consent include, without limitation, (i) if such Transfer to individuals, companies or any other form of entity identified by the corporation as a potential competitor or considered by the corporation to be unfriendly; or (ii) if such Transfer increases the risk of the corporation having a class of security held of record by two thousand (2,000) or more persons, or five hundred (500) or more persons who are not accredited investors (as such term is defined by the SEC), as described in Section 12(g) of the 1934 Act and any related regulations, or otherwise requiring the corporation to register any class of securities under the 1934 Act; or (iii) if such Transfer would result in the loss of any federal or state securities law exemption relied upon by the corporation in connection with the initial issuance of such shares or the issuance of any other securities; or (iv) if such Transfer is facilitated in any manner by any public posting, message board, trading portal, internet site, or similar method of communication, including without limitation any trading portal or internet site intended to facilitate secondary transfers of securities; or (v) if such Transfer is to be effected in a brokered transaction; or (vi) if such Transfer represents a Transfer of less than all of the shares then held by the stockholder and its affiliates or is to be made to more than a single transferee.
c. Any shares proposed to be transferred, to which Transfer the Board of Directors has consented pursuant hereto, will first be subject to the corporation’s right of first refusal as set forth herein, and any other contractual rights of first refusal, co-sale or tag-along that may exist with respect to such Transfer.

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## 6.2 Right of First Refusal.

1. **Corporate Right of First Refusal.** Unless waived by the Company in writing, for thirty (30) days following receipt of a Transfer Notice, the corporation shall have the option to purchase up to all of the shares specified in the notice at the price and upon the terms set forth in such Transfer Notice. In the event of a gift, property settlement or other Transfer in which the proposed transferee is not paying the full price for the shares, and that is not a Permitted Transfer, the price shall be deemed to be the fair market value of the stock at such time as determined in good faith by the Board of Directors.
2. **Assignment.** The corporation may assign its right of first refusal hereunder without the stockholder's consent.
3. **Exercise Process.** In the event the corporation and/or its assignee(s) elect to acquire any of the shares of the transferring stockholder as specified in said transferring stockholder's Transfer Notice, the Secretary of the corporation shall so notify the transferring stockholder and settlement thereof shall be made in cash within thirty (30) days after the Secretary of the corporation receives said Transfer Notice. Notwithstanding the foregoing, if the terms of payment set forth in the Transfer Notice were other than cash against delivery, the corporation and/or its assignee(s) shall pay for said shares on the same terms and conditions set forth in said Transfer Notice.
4. **Non-Exercise.** In the event the corporation and/or its assignee(s) do not elect to acquire all of the shares specified in a Transfer Notice, said transferring stockholder may, subject to the corporation's approval and compliance with all other restrictions on Transfer located herein, within the sixty-day period following the expiration or waiver of the option rights granted to the corporation and/or its assignee(s) herein, Transfer any shares specified in said Transfer Notice which were not acquired by the corporation and/or its assignee(s), on the terms specified in the Transfer Notice.

## 6.3 Miscellaneous Provisions Relating to Transfer Restrictions.

1. **Continuing Obligations.** All shares sold by a transferring stockholder shall continue to be subject to the provisions of these bylaws in the same manner as before such Transfer.
2. **Waiver.** Transfer restrictions contains within these bylaws may be waived with respect to any Transfer either by the corporation, upon duly authorized action of its Board of Directors, or by the stockholders, upon the express written consent of the owners of a majority of the voting power of the corporation (excluding the votes represented by those shares to be transferred by the transferring stockholder).
3. **Amendment.** Transfer restrictions contained within these bylaws may be amended or repealed either by a duly authorized action of the Board of Directors or by the stockholders, upon the express written consent of the owners of a majority of the voting power of the corporation.
4. **Unauthorized Transfers.** Any Transfer or purported Transfer of shares not made in strict compliance with the terms, conditions and provisions of these bylaws, including provisions relating to Transfer restrictions and rights of first refusal, shall be null and void ab initio, shall not be recorded on the books of the corporation and shall not be recognized by the corporation.
5. **Restriction Termination.** The restrictions on Transfer and the rights of first refusal contained herein shall terminate upon the date securities of the corporation are first offered to the public pursuant to a registration statement filed with, and declared effective by, the SEC under the Securities Act of 1933, as amended (the "1933 Act").
6. **Conflict.** To the extent the provisions in this Article conflict with any written agreements between the

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corporation and the stockholder attempting to Transfer shares, such agreements shall control and shall supersede the Transfer restrictions and rights of first refusal contained herein.

#### **6.4 Legend Requirements.**

1. The certificates representing shares of stock of the corporation shall bear on their face the following legend, or some variation thereof having substantially the same message, so long as the foregoing Transfer restrictions are in effect:
   a. "THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A TRANSFER RESTRICTION, AS PROVIDED IN THE BYLAWS OF THE CORPORATION."
2. The certificates representing shares of stock of the corporation shall bear on their face the following legend, or some variation thereof having substantially the same message, so long as the foregoing right of first refusal remains in effect:
   a. "THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A RIGHT OF FIRST REFUSAL OPTION IN FAVOR OF THE CORPORATION AND/OR ITS ASSIGNEE(S), AS PROVIDED IN THE BYLAWS OF THE CORPORATION."

#### **6.5 Permitted Transfers.**

1. Anything to the contrary contained herein notwithstanding, the following transactions (each, a "*Permitted Transfer*") shall be exempt from all Transfer restrictions and the right of first refusal set forth herein:
   a. A stockholder's Transfer of any or all shares held either during such stockholder's lifetime or on death by will or intestacy to (i) such stockholder's immediate family, (ii) to any trust, custodian or trustee for the account of such stockholder or such stockholder's immediate family, or (iii) to any entity of which the stockholder, members of such stockholder's immediate family or any trust for the account of such stockholder or such stockholder's immediate family will be the controlling or majority equityholder(s). "Immediate family" as used herein shall mean spouse, lineal descendant, father, mother, brother, or sister of the stockholder making such Transfer.
   b. A stockholder's bona fide pledge or mortgage of any shares with a commercial lending institution, provided that any subsequent Transfer of said shares by said institution shall be conducted in the manner set forth in this bylaw;
   c. A stockholder's Transfer of any or all of such stockholder's shares to the corporation or to any other stockholder of the corporation;
   d. A stockholder's Transfer of any or all of such stockholder's shares to a person who, at the time of such Transfer, is an officer or director of the corporation;
   e. A stockholder's Transfer of any or all of such stockholder's shares pursuant to a transaction that has been consented to by the Company in writing;
   f. A corporate stockholder's Transfer of any or all of its shares pursuant to and in accordance with the terms of any merger, consolidation, reclassification of shares or capital reorganization of the corporate stockholder, or pursuant to a sale of all or substantially all of the stock or assets of a corporate stockholder;
   g. An entity stockholder's Transfer of any or all of its shares to any or all of its members, stockholders, or limited partners;

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h. Solely as an exemption with respect to the application of the right of first refusal, any Transfer of shares of preferred stock of the corporation or shares of common stock that were issued upon conversion of corresponding shares of preferred stock of the corporation; or
i. A Transfer by a stockholder which is a limited or general partnership to any or all of its partners or former partners in accordance with partnership interests.
2. In any such case, the transferee, assignee, or other recipient shall receive and hold such stock subject to the provisions of this Article and the transfer restrictions and rights of first refusal set forth herein, and there shall be no further Transfer of such stock except in accord with these bylaws.

# ARTICLE VII. Miscellaneous

**7.1 Annual Report.** If and so long as there are fewer than one hundred (100) holders of record of the corporation's shares, the requirement of sending of an annual report to the stockholders of the corporation is hereby expressly waived.

**7.2 Forum.** Unless the corporation consents in writing to the selection of an alternative forum, the Court of Chancery (or equivalent, if any) of the State of Organization shall be the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the corporation; (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee of the corporation to the corporation or the corporation's stockholders; (iii) any action asserting a claim against the corporation or any director or officer or other employee of the corporation arising pursuant to any provision of the Governing Law, the certificate of incorporation or the Bylaws of the corporation; or (iv) any action asserting a claim against the corporation or any director or officer or other employee of the corporation governed by the internal affairs doctrine.

**7.3 Bylaw Amendments.** **The Board of Directors is expressly empowered to adopt, amend or repeal Bylaws of the corporation, without the consent or vote of the stockholders.** The stockholders shall also have power to adopt, amend or repeal the Bylaws of the corporation; *provided, however*, that, in addition to any vote of the holders of any class or series of stock of the corporation required by law or by the Certificate of Incorporation, such action by stockholders shall require the affirmative vote of the holders of a majority of the voting power of all of the then-outstanding shares of the capital stock of the corporation entitled to vote generally in the election of directors, voting together as a single class.

**7.4 Fiscal Year.** The fiscal year of the corporation shall be fixed by resolution of the Board of Directors.

# **7.5 Notices.**

1. **Delivery Methods.** Without limiting the manner by which notice may otherwise be given effectively under any agreement or contract, and except as otherwise required by law, written notice for purposes of these Bylaws may be sent by United States mail or nationally recognized overnight courier, or by facsimile, or by electronic mail or other electronic means, to such address as the corporation shall have recorded with the Secretary for the notice recipient, or, in the absence of such record, to the last known contact address of such recipient.
2. **Affidavit of Mailing.** An affidavit of mailing, executed by a duly authorized and competent employee of the corporation or its transfer agent appointed with respect to the class of stock affected or other

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agent, specifying the name and address or the names and addresses of the stockholder or stockholders, or director or directors, to whom any such notice or notices was or were given, and the time and method of giving the same, shall in the absence of fraud, be prima facie evidence of the facts therein contained.

1. 3. **Methods of Notice.** It shall not be necessary that the same method of giving notice be employed in respect of all recipients of notice, but one permissible method may be employed in respect of any one or more, and any other permissible method or methods may be employed in respect of any other or others.
2. 4. **Notice to Person with Whom Communication Is Unlawful.** Whenever notice is required to be given, under any provision of law or of the Certificate of Incorporation or Bylaws of the corporation, to any person with whom communication is unlawful, the giving of such notice to such person shall not be required and there shall be no duty to apply to any governmental authority or agency for a license or permit to give such notice to such person. Any action or meeting which shall be taken or held without notice to any such person with whom communication is unlawful shall have the same force and effect as if such notice had been duly given. In the event that the action taken by the corporation is such as to require the filing of a certificate under any provision of the Governing Law, the certificate shall state, if such is the fact and if notice is required, that notice was given to all persons entitled to receive notice except such persons with whom communication is unlawful.
3. 5. **Notice to Stockholders Sharing an Address.** Except as otherwise prohibited under the Governing Law, any notice given under the provisions of the Governing Law, the Certificate of Incorporation or the Bylaws shall be effective if given by a single written notice to stockholders who share an address if consented to by the stockholders at that address to whom such notice is given. Such consent shall have been deemed to have been given if such stockholder fails to object in writing to the corporation within 60 days of having been given notice by the corporation of its intention to send the single notice. Any consent shall be revocable by the stockholder by written notice to the corporation.
4. 6. **Consent to Electronic Notice.**
   1. a. By accepting the issuance of stock in the corporation, each stockholder shall be deemed to have consented to the delivery of stockholder notices by electronic transmission for all purposes and to the fullest extent permitted by law, including the fullest extent set forth in the Governing Law.
   2. b. Notices by electronic transmission may be delivered to each stockholder by electronic mail to any email address provided by the stockholder to the corporation as a contact email address or to such other electronic mail address as shall be designated by the stockholder in a written notice sent to the then-current Secretary of the corporation, and may include links to or notice of notices posted on an electronic network.
   3. c. All notices sent by electronic mail will be considered given and received as of and on the date of electronic transmission thereof.
   4. d. This consent applies to any and all notices required to be given to the stockholder for any purpose, including under the Governing Law and/or the corporation's certificate of incorporation, bylaws or otherwise.
   5. e. This consent also applies to any and all notices required to be given to the stockholder pursuant to any investors rights', stockholders', voting, right of first refusal and co-sale, registration rights or other similar stockholder agreement in respect of the corporation or its shares of capital stock, unless otherwise expressly indicated in the applicable agreement.

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**7.6 Laws Applicable to Corporations Located or Doing Business in California.** Notwithstanding anything to the contrary contained herein:

1. No person entitled to vote at an election for directors may cumulate votes to which such person is entitled, unless, at the time of such election, the corporation is subject to Section 2115(b) of the California General Corporate Law (the “CGCL”). During such time or times that the corporation is subject to Section 2115(b) of the CGCL, every stockholder entitled to vote at an election for directors may cumulate such stockholder’s votes and give one candidate a number of votes equal to the number of directors to be elected multiplied by the number of votes to which such stockholder’s shares are otherwise entitled, or distribute the stockholder’s votes on the same principle among as many candidates as such stockholder thinks fit. No stockholder, however, shall be entitled to so cumulate such stockholder’s votes unless (i) the names of such candidate or candidates have been placed in nomination prior to the voting and (ii) the stockholder has given notice at the meeting, prior to the voting, of such stockholder’s intention to cumulate such stockholder’s votes. If any stockholder has given proper notice to cumulate votes, all stockholders may cumulate their votes for any candidates who have been properly placed in nomination. Under cumulative voting, the candidates receiving the highest number of votes, up to the number of directors to be elected, are elected.
2. At any time or times that the corporation is subject to Section 2115(b) of the CGCL, if, after the filling of any vacancy, the directors then in office who have been elected by stockholders shall constitute less than a majority of the directors then in office, then any holder or holders of an aggregate of five percent (5%) or more of the total number of shares at the time outstanding having the right to vote for those directors may call a special meeting of stockholders; or the Superior Court of the proper county shall, upon application of such stockholder or stockholders, summarily order a special meeting of the stockholders, to be held to elect the entire board, all in accordance with Section 305(c) of the CGCL, the term of office of any director shall terminate upon that election of a successor.
3. During such time or times that the corporation is subject to Section 2115(b) of the CGCL, the Board of Directors or any individual director may be removed from office at any time without cause by the affirmative vote of the holders of a majority of the outstanding shares entitled to vote on such removal; provided, however, that unless the entire Board is removed, no individual director may be removed when the votes cast against such director’s removal, or not consenting in writing to such removal, would be sufficient to elect that director if voted cumulatively at an election at which the same total number of votes were cast (or, if such action is taken by written consent, all shares entitled to vote were voted) and the entire number of directors authorized at the time of such director’s most recent election were then being elected.
4. During such time or times that the corporation is subject to Section 1501 of the CGCL, the Board of Directors shall cause an annual report to be sent to each stockholder of the corporation not later than one hundred twenty (120) days after the close of the corporation’s fiscal year. Such report shall include a balance sheet as of the end of such fiscal year and an income statement and statement of changes in financial position for such fiscal year, accompanied by any report thereon of independent accountants or, if there is no such report, the certificate of an authorized officer of the corporation that such statements were prepared without audit from the books and records of the corporation. When there are more than 100 stockholders of record of the corporation’s shares, as determined by Section 605 of the CGCL, additional information as required by Section 1501(b) of the CGCL shall also be contained in such

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report, provided that if the corporation has a class of securities registered under Section 12 of the 1934 Act, the 1934 Act shall take precedence. Such report shall be sent to stockholders at least fifteen (15) days prior to the next annual meeting of stockholders after the end of the fiscal year to which it relates.

| *End of Bylaws* |

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# Certificate of Secretary
Re: Adoption of Bylaws
of
Dry Bar Unscripted, Inc.

**The undersigned hereby certifies that:**

1. The undersigned is the duly elected and acting Secretary of Dry Bar Unscripted, Inc., a Delaware Corporation (the “*Company*”); and
2. The foregoing Bylaws constitute the Bylaws of the Company as duly adopted by the Board of Directors of the Company on Nov 9th, 2022.

* * * * *

**In Witness Whereof**, this Certificate is hereby executed by the undersigned on the date set forth below.

(Signed)

Zachary Atherton

Secretary of Dry Bar Unscripted, Inc.

Date: Nov 9th, 2022

* * * * *

Document Ref: DSJE5-UVQPN-K8XA8-YA8UG

Page 26 of 26

# Signature Certificate

Reference number: DSJE5-UVQPN-K8XA8-YA8UG

Signer

Timestamp

Signature

**Zachary Atherton**

Email: zacharyatherton@gmail.com

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IP address: 136.36.108.4

Location: Provo, United States

Document completed by all parties on:

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**Attachment 4:** `inceptionaudit.pdf`

# Dry Bar Unscripted, Inc.

A Delaware Corporation

Financial Statement and Independent Auditor's Report November 9, 2022 (inception)

# DRY BAR UNSCRIPTED, INC.

## TABLE OF CONTENTS

|  | Page |
| --- | --- |
| Independent Auditor's Report | 1 |
| Financial Statement as of November 9, 2022 (inception): |  |
| Balance Sheet | 3 |
| Notes to the Financial Statement | 4 |

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

To the Board of Directors of
Dry Bar Unscripted, Inc.
Provo, Utah

# INDEPENDENT AUDITOR'S REPORT

# Opinion

We have audited the accompanying balance sheet of Dry Bar Unscripted, Inc. (the "Company") as of November 9, 2022 (inception) and the related notes to the financial statement.

In our opinion, the financial statement referred to above presents fairly, in all material respects, the financial position of the Company as of November 9, 2022 (inception), in accordance with accounting principles generally accepted in the United States of America.

# Basis for Opinion

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

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

The accompanying financial statement has been prepared assuming that the Company will continue as a going concern. As described in Note 3 to the financial statement, the Company is recently formed, has limited financial resources to continue its operations, has not commenced planned principal operations, plans to incur significant costs in the pursuit of its capital financing plans, and has not generated any revenues or profits. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 3. The financial statement does not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified with respect to this matter.

# Responsibilities of Management for the Financial Statement

Management is responsible for the preparation and fair presentation of this financial statement 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 the financial statement that is free from material misstatement, whether due to fraud or error.

# Artesian CPA, LLC

1624 Market Street, Suite 202 | Denver, CO 80202
p: 877.968.3330 f: 720.634.0905
info@ArtesianCPA.com | www.ArtesianCPA.com

In preparing the financial statement, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statement is available to be issued.

### Auditor's Responsibilities for the Audit of the Financial Statement

Our objectives are to obtain reasonable assurance about whether the financial statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements, including omissions, are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statement.

In performing an audit in accordance with generally accepted auditing standards, we:

- Exercise professional judgment and maintain professional skepticism throughout the audit.
- Identify and assess the risks of material misstatement of the financial statement, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statement.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.

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

**Artesian CPA, LLC**
Denver, Colorado
January 17, 2023

### Artesian CPA, LLC

1624 Market Street, Suite 202 | Denver, CO 80202
p: 877.968.3330 f: 720.634.0905
info@ArtesianCPA.com | www.ArtesianCPA.com

# **DRY BAR UNSCRIPTED, INC.**
**BALANCE SHEET**
**As of November 9, 2022 (inception)**

**ASSETS**

Current Assets:

| Cash and cash equivalents | $ | - |
| --- | --- | --- |
| Total Current Assets |  | - |

**TOTAL ASSETS**

|  | $ | - |
| --- | --- | --- |

**LIABILITIES AND STOCKHOLDER'S EQUITY**

Current Liabilities:

| Accounts payable | $ | 59,638 |
| --- | --- | --- |
| Total Current Liabilities |  | 59,638 |

| Total Liabilities |  | 59,638 |
| --- | --- | --- |

Stockholder's Equity:

| Common Stock, $0.00001 par, 15,000,000 shares authorized, 0 shares issued and outstanding as of November 9, 2022 (inception) |  | - |
| --- | --- | --- |
| Additional paid-in capital |  | 28,906 |
| Accumulated deficit |  | (88,544) |
| Total Stockholder's Equity |  | (59,638) |

**TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY**

|  | $ | - |
| --- | --- | --- |

See accompanying Independent Auditor's Report and accompanying notes, which are an integral part of this financial statement.

-3-

# **DRY BAR UNSCRIPTED, INC.**  
**NOTES TO THE FINANCIAL STATEMENT**  
**As of November 9, 2022 (inception)**---

# **NOTE 1: NATURE OF OPERATIONS**

Dry Bar Unscripted, Inc. (the “Company”) is a corporation organized on November 9, 2022 under the laws of Delaware, and headquartered in Provo, Utah. The Company was formed to produce and distribute improv comedy specials.

As of November 9, 2022 (inception), the Company has not commenced planned principal operations nor generated revenue. The Company’s activities since inception have consisted of formation activities and preparations to raise capital. Once the Company commences its planned principal operations, it will incur significant additional expenses. The Company is dependent upon additional capital resources for the commencement of its planned principal operations and is subject to significant risks and uncertainties; including failing to secure funding to operationalize the Company’s planned operations or failing to profitably operate the business.

# **NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

# Basis of Presentation

The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”).

The Company intends to adopt the calendar year as its basis of reporting.

# Use of Estimates

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

# Significant Risks and Uncertainties

The Company has a limited operating history. The Company’s business and operations are sensitive to general business and economic conditions in the United States. A host of factors beyond the Company’s control could cause fluctuations in these conditions. These adverse conditions could affect the Company’s financial condition and the results of its operations.

# Fair Value of Financial Instruments

Financial Accounting Standards Board (“FASB”) guidance specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows:

See accompanying Independent Auditor’s Report

-4-

# **DRY BAR UNSCRIPTED, INC.**  
**NOTES TO THE FINANCIAL STATEMENT**  
**As of November 9, 2022 (inception)**---

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active).

Level 3 - Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable.

The carrying amounts reported in the balance sheet approximate their fair value.

# Cash Equivalents and Concentration of Cash Balance

The Company considers all highly liquid securities with an original maturity of three months or less to be cash equivalents. The Company's cash and cash equivalents in bank deposit accounts, at times, may exceed federally insured limits. As of November 9, 2022 (inception), the Company has no cash and cash equivalents.

# Subscription Receivable

The Company records stock issuances at the effective date. If the subscription is not funded upon issuance, the Company records a subscription receivable as an asset on a balance sheet. When subscriptions are not received prior to the issuance of financial statements at a reporting date in satisfaction of the requirements under FASB ASC 505-10-45-2, the subscription receivable is reclassified as a contra account to stockholder's equity on the balance sheet.

# Revenue Recognition

Accounting Standards Codification ('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 is 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.

As of November 9, 2022 (inception), the Company has not earned any revenue.

See accompanying Independent Auditor's Report

-5-

# **DRY BAR UNSCRIPTED, INC.**  
**NOTES TO THE FINANCIAL STATEMENT**  
**As of November 9, 2022 (inception)**---

# Organizational Costs

In accordance with FASB ASC 720, *Other Expenses*, organizational costs, including accounting fees, legal fees, and costs of incorporation, are expensed as incurred.

# Advertising Costs

The Company expenses advertising costs as they are incurred. Advertising expense incurred prior to inception and recorded as beginning accumulated deficit amounted to $88,544 as of November 9, 2022 (inception), of which $59,638 remained payable and was recorded to accounts payable.

# Income Taxes

The Company uses the liability method of accounting for income taxes as set forth in ASC 740, *Income Taxes*. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is unlikely that the deferred tax assets will be realized.

The Company assesses its income tax positions and records tax benefits for all years subject to examination based upon the Company's evaluation of the facts, circumstances and information available at the reporting date. In accordance with ASC 740-10, for those tax positions where there is a greater than 50% likelihood that a tax benefit will be sustained, the Company's policy is to record the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where there is less than 50% likelihood that a tax benefit will be sustained, no tax benefit will be recognized in the financial statements. The Company has evaluated its income tax positions and has determined that it does not have any uncertain tax positions. The Company will recognize interest and penalties related to any uncertain tax positions through its income tax expense.

The Company accounts for income taxes with the recognition of estimated income taxes payable or refundable on income tax returns for the current period and for the estimated future tax effect attributable to temporary differences and carryforwards. Measurement of deferred income items is based on enacted tax laws including tax rates, with the measurement of deferred income tax assets being reduced by available tax benefits not expected to be realized in the immediate future.

The Company is subject to tax filing requirements as a corporation in the federal jurisdiction of the United States. As the Company is not yet in operation, no income and deferred tax provisions have been made, though the Company expects to have net operating loss carryforwards from its expenses through its inception date.

# **NOTE 3: GOING CONCERN**

The accompanying balance sheet has been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company is recently formed, has limited financial resources to continue its operations, has not commenced planned principal operations, plans to incur significant costs in the pursuit of its capital financing

See accompanying Independent Auditor's Report

-6-

# **DRY BAR UNSCRIPTED, INC.**  
**NOTES TO THE FINANCIAL STATEMENT**  
**As of November 9, 2022 (inception)**---

plans, and has not generated any revenues or profits. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time.

The Company's ability to continue as a going concern in the next twelve months is dependent upon its ability to obtain capital financing from investors sufficient to meet current and future obligations and deploy such capital to produce profitable operating results. No assurance can be given that the Company will be successful in these efforts. The balance sheet does not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

# **NOTE 4: STOCKHOLDER'S EQUITY**

The Company has authorized 15,000,000 shares of $0.00001 par value common stock. As of November 9, 2022 (inception), no shares of common stock were issued and outstanding.

As of November 9, 2022, the Company's founder contributed capital amounting to $28,906 through payment of expenses on behalf of the Company prior to the Company's inception.

# **NOTE 5: RECENT ACCOUNTING PRONOUNCEMENTS**

In February 2016, the FASB issued Accounting Standards Update ('ASU') 2016-02, *Leases (Topic 842)*. This ASU requires a lessee to recognize a right-of-use asset and a lease liability under most operating leases in its balance sheet. The ASU is effective for annual and interim periods beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted. Management believes that the adoption of ASU 2016-02 has no impact on the Company's financial statement and disclosures.

In January 2017, the FASB issued ASU 2017-04, *Intangibles - Goodwill and Other (Topic 350), simplifying Accounting for Goodwill Impairment* ('ASU 2017-04'). ASU 2017-04 removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The amendments in this update are effective for public entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. For all other entities, the amendment is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of ASU 2017-04 will have on the Company's financial statements.

In August 2020, the FASB issued ASU 2020-06, *Accounting for Convertible Instruments and Contracts in an Entity; Own Equity* ('ASU 2020-06'), as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. Among other changes, the new guidance removes from GAAP separation models for convertible debt that require the convertible debt to be separated into a debt and equity component, unless the conversion feature is required to be bifurcated

See accompanying Independent Auditor's Report

-7-

# **DRY BAR UNSCRIPTED, INC.**  
**NOTES TO THE FINANCIAL STATEMENT**  
**As of November 9, 2022 (inception)**---

and accounted for as a derivative or the debt is issued at a substantial premium. As a result, after adopting the guidance, entities will no longer separately present such embedded conversion features in equity, and will instead account for the convertible debt wholly as debt. The new guidance also requires use of the “if-converted” method when calculating the dilutive impact of convertible debt on earnings per share, which is consistent with the Company’s current accounting treatment under the current guidance. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, but only at the beginning of the fiscal year. Management believes that the adoption of ASU 2020-06 has no impact on the Company’s financial statement and disclosures.

Management does not believe that any recently issued, but not yet effective, accounting standards could have a material effect on the accompanying balance sheet. As new accounting pronouncements are issued, the Company will adopt those that are applicable under the circumstances.

# **NOTE 6: COMMITMENTS, CONTINGENCIES, AND CONCENTRATIONS**

The Company may be subject to pending legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Company does not anticipate that the final outcome, if any, arising out of any such matter will have a material adverse effect on its business, financial condition or results of operations.

# **NOTE 7: SUBSEQUENT EVENTS**

# Share Issuances

In December 2022, the Company issued 9,750,000 shares of common stock to its founder and investors for gross proceeds of $98. Certain share issuances were under restricted equity purchase agreements which stipulated repurchase options subject to vesting schedules dependent upon the stockholder’s continued service to the Company, with the repurchase price either based on the fair market value of the restricted equity or at the lower of the original per share purchase price paid by the stockholder for the restricted equity or the fair market value.

In January 2023, the Company issued 1,178 shares of common stock as consideration for the services provided by the contractors with a total value of $11,775.

# Equity Incentive Plan

In December 2022, the Company adopted the Equity Incentive Plan (the “Plan”) which provides for the grant of shares of stock options to employees and consultants. The Company has reserved 250,000 shares of common stock for issuance under the Plan. The options generally have a term of ten years.

# Management’s Evaluation

Management has evaluated all subsequent events through January 17, 2023, the date the financial statement was available to be issued, and determined there are no additional material events requiring disclosure or adjustment to the financial statement.

See accompanying Independent Auditor’s Report

-8-

**Attachment 5:** `subscriptionagreement.pdf`

THE SECURITIES SET FORTH HEREIN ARE BEING OFFERED PURSUANT TO SECTION 4(A)(6) OF THE SECURITIES ACT OF 1933. THE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE OR ANY OTHER JURISDICTION. THERE ARE FURTHER RESTRICTIONS ON THE TRANSFERABILITY OF THE SECURITIES DESCRIBED HEREIN.

THE PURCHASE OF THE SECURITIES INVOLVES A HIGH DEGREE OF RISK AND SHOULD BE CONSIDERED ONLY BY PERSONS WHO CAN BEAR THE RISK OF THE LOSS OF THEIR ENTIRE INVESTMENT.

## Subscription Agreement

PREFERRED UNITS

IN

DRY BAR UNSCRIPTED, INC.

The undersigned (the “**Investor**”) represents and understands that Dry Bar Unscripted, Inc. a Delaware corporation, (the “**Issuer**”), is offering up to 10,000,000 shares of its Preferred Shares (the “**Securities**”), for $.50 per unit (the “**Purchase Price**”) in a Regulation CF offering (the “**Offering**”) subject to Issuer’s Form C SEC filing (the “**Form C**”) and the Issuer’s Bylaws and Articles of Incorporation, dated as of January 18, 2023 (the “**Offering Documents**”), each as may be amended. The Investor further understands that the Offering is being made without registration of the Securities under the Securities Act of 1933, as amended (the “**Securities Act**”), or any securities law of any state of the United States or of any other jurisdiction. The Offering has a minimum amount raised target of $250,000 (the “**Target Offering Amount**”) and a maximum offering target of $5,000,000 (the “**Maximum Offering Amount**”). The last day and time on which any investments may be made in the Offering and by which the Target Offering Amount must be met is 10:00:00 on February 16, 2023 (the “**Offering Deadline**”). Once the Offering reaches the Target Offering Amount, the Issuer may elect to hold an initial Closing, as indicated below in Section 3 and continue to raise funds up to the Maximum Offering Amount.

This Subscription Agreement (this “**Subscription Agreement**”) relates to Investor’s agreement to purchase Securities in the amount set forth on the Signature Page hereto, to be issued by the Issuer, subject to the terms, conditions, acknowledgements, representations and warranties stated herein and in the Offering Documents for the sale of the Securities, as the same may be supplemented or amended. Capitalized terms used but not defined herein shall have the meanings given to them in the Offering Documents.

Investor understands that if Investor wishes to purchase Securities, Investor must complete this Subscription Agreement and submit the applicable Subscription Price in accordance with the instructions set forth in the Offering Documents and on “Angel Funding” (VAS Portal, LLC; hereinafter “the Portal”)’s page for this Offering. Investor understands that the purchase price per unit of Securities is $.50.

In order to induce the Company to accept this Subscription Agreement for Securities and as further consideration for such acceptance, Investor hereby makes, adopts, confirms and agrees to

all of the following covenants, acknowledgements, representations and warranties with the full knowledge that the Company and its affiliates will expressly rely thereon in making a decision to accept or reject this Subscription Agreement.

1. Subscription. Subject to the terms and conditions hereof and the provisions of the Offering Documents, the Investor hereby irrevocably subscribes for the Securities set forth on the signature page hereto in the aggregate purchase amount or price there indicated (the “Total Purchase Price”), which is payable as described in Section 4 hereof. The Investor acknowledges that the Securities will be subject to restrictions on transfer as set forth in this Subscription Agreement.

2. Acceptance of Subscription and Issuance of Securities. It is understood and agreed that the Issuer shall have the sole right, in its complete discretion, to accept or reject this subscription, in whole or in part, for any reason and that the same shall be deemed to be accepted by the Issuer only when Investor has received a confirmation of closed investment notice from the Portal. Subscriptions need not be accepted in the order received, and the Securities may be allocated among subscribers.

3. The Closing. The closing of the purchase and sale of the Securities shall take place as soon as reasonably possible after the Offering Deadline or at such earlier time as set by Issuer (the “Closing”), subject to the following conditions:

(a) The Offering may not close if the cumulative subscriptions in the Offering have not reached the Target Offering Amount by the Offering Deadline.

(b) The Offering may not close until the Offering has been open to the public for at least twenty-one (21) days after opening.

(c) The Offering may not close for any individual subscriber until such subscriber’s identity is verified with the escrow agent (the “Escrow Agent”), and their funds have cleared the escrow account (the “Escrow Account”).

(d) If the Issuer sets a Closing earlier than the Offering Deadline, the Issuer shall send a notice five days prior to the Closing to all investors who have committed to invest in the Offering through a subscription agreement granting them an opportunity to cancel their commitment up to forty-eight (48) hours prior to the Closing. This notice will also identify if the Issuer will continue to accept commitments up to the Closing and Offering Deadline.

(e) The Offering may close in batches after the Offering Deadline as requirements are met for any such batch of subscribers.

4. Payment for Securities. The Investor shall pay to the Issuer the Total Purchase Price at the time of entering into this Subscription Agreement. Investor may pay the Total Purchase Price by ACH, credit card, or wire transfer subject to limitations set forth in this agreement or through the Portal’s technology. Payment shall be submitted to the Escrow Agent and held by the Escrow Agent until such time that it is either refunded to the Investor or distributed to the

2

Issuer. If payment is never received by the Escrow Agent, Investor's subscription will be canceled.

5. Termination. The Issuer and Investor may terminate this Subscription Agreement as follows:

(a) The Investor may terminate this Subscription Agreement for any reason, but only up to forty-eight (48) hours before the Closing, or if the Investor enters into this Subscription Agreement during the last forty-eight (48) hours of the Offering, the Investor may not terminate this Subscription Agreement.

(b) The Issuer may terminate this Subscription Agreement at any time and for any reason up until the time that Investor's subscription is accepted.

(c) The Issuer may terminate this Subscription Agreement after the Closing if the Investor's payment is subjected to a chargeback.

6. Representations and Warranties of the Issuer. As of the Closing, the Issuer represents and warrants that:

(a) The Issuer is duly formed and validly existing under the laws of the state of Delaware, with full power and authority to conduct its business as it is currently being conducted and to own its assets; and has secured any other authorizations, approvals, permits and orders required by law for the conduct by the Issuer of its business as it is currently being conducted.

(b) This Subscription Agreement, when executed and delivered by the Issuer, shall constitute the valid and legally binding obligations of the Issuer, enforceable against the Issuer in accordance with their respective terms except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors' rights generally, or (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.

(c) The Securities, when issued, sold and delivered in accordance with the terms and for the consideration set forth in this Subscription Agreement and the Offering Documents, will be validly issued, fully paid and non-assessable.

7. Representations and Warranties of the Investor. The Investor hereby represents and warrants to and covenants with the Issuer that:

(a) The Investor has the capacity to purchase the Securities, enter into this Subscription Agreement and to perform all the obligations required to be performed by the Investor hereunder, and such purchase will not contravene any law, rule or regulation binding on the Investor or any investment guideline or restriction applicable to the Investor.

(b) The Investor is a resident of the state set forth on the signature page hereto and is not acquiring the Securities as a nominee or agent or otherwise for any other person.

3

(c) The Investor is a citizen of the United States of America.

(d) The Investor is at least eighteen (18) years of age.

(e) The Investor will comply with all applicable laws and regulations in effect in any jurisdiction in which the Investor purchases or sells the Securities and obtain any consent, approval or permission required for such purchases or sales under the laws and regulations of any jurisdiction to which the Investor is subject or in which the Investor makes such purchases or sales, and the Issuer shall have no responsibility therefor.

(f) The Investor has received a copy of the Offering Documents. The Investor has not been furnished any offering literature other than the Offering Documents and has relied only on the information contained therein.

(g) The Investor understands and accepts that the purchase of the Securities involves various risks, including the risks outlined in the Offering Documents. The Investor represents that it is able to bear any loss associated with an investment in the Securities.

(h) The Investor confirms that it is not relying on any communication (written or oral) of the Issuer or any of its affiliates, as investment advice or as a recommendation to purchase the Securities. It is understood that information and explanations related to the terms and conditions of the Securities provided in the Offering Documents or otherwise by the Issuer or any of its affiliates shall not be considered investment advice or a recommendation to purchase the Securities, and that neither the Issuer nor any of its affiliates is acting or has acted as an advisor to the Investor in deciding to invest in the Securities.

(i) The Investor is familiar with the business and financial condition and operations of the Issuer, all as generally described in the Offering Documents. The Investor has had access to such information concerning the Issuer and the Securities as it deems necessary to enable it to make an informed investment decision concerning the purchase of the Securities.

(j) The Investor understands that each of the Investor's representations and warranties contained in this Subscription Agreement will be deemed to have been reaffirmed and confirmed as of the Closing, taking into account all information received by the Investor.

(k) The Investor acknowledges that the Issuer has the right in its sole and absolute discretion to abandon the Offering at any time prior to the completion of the offering. This Subscription Agreement shall thereafter have no force or effect and the Issuer shall cause the Escrow Agent to return the previously paid Total Purchase Price of the Securities, without interest thereon, to the Investor.

(l) The Investor understands that no federal or state agency has passed upon the merits or risks of an investment in the Securities or made any finding or determination concerning the fairness or advisability of this investment.

(m) The Investor represents that it is not relying on (and will not at any time rely on) any communication (written or oral) of the Issuer, as investment advice or as a recommendation to purchase the Securities, it being understood that information and explanations related to the

4

terms and conditions of the Securities and the other transaction documents that are described in the Offering Documents shall not be considered investment advice or a recommendation to purchase the Securities.

(n) The Investor confirms that the Issuer has not (A) given any guarantee or representation as to the potential success, return, effect or benefit (either legal, regulatory, tax, financial, accounting or otherwise) of an investment in the Securities or (B) made any representation to the Investor regarding the legality of an investment in the Securities under applicable legal investment or similar laws or regulations. In deciding to purchase the Securities, the Investor is not relying on the advice or recommendations of the Issuer and the Investor has made its own independent decision that the investment in the Securities is suitable and appropriate for the Investor.

(o) The Investor has such knowledge, skill and experience in business, financial and investment matters that the Investor is capable of evaluating the merits and risks of an investment in the Securities. With the assistance of the Investor's own professional advisors, to the extent that the Investor has deemed appropriate, the Investor has made its own legal, tax, accounting and financial evaluation of the merits and risks of an investment in the Securities and the consequences of this Subscription Agreement. The Investor has considered the suitability of the Securities as an investment in light of its own circumstances and financial condition and the Investor is able to bear the risks associated with an investment in the Securities.

(p) The Investor is aware of its investment limitations based on Investor's annual net income, net worth and previous investments through other regulation crowdfunding offerings over the proceeding twelve month period and is compliant with such limitations based on the Total Purchase Price.

(q) The Investor is acquiring the Securities solely for the Investor's own beneficial account, for investment purposes, and not with a view to, or for resale in connection with, any distribution of the Securities. The Investor understands that the Securities have not been registered under the Securities Act or any State Securities Laws by reason of specific exemptions under the provisions thereof which depend in part upon the investment intent of the Investor and of the other representations made by the Investor in this Subscription Agreement. The Investor understands that the Issuer is relying upon the representations and agreements contained in this Subscription Agreement (and any supplemental information) for the purpose of determining whether this transaction meets the requirements for such exemptions.

(r) The Investor understands that the Securities are 'restricted securities' under applicable federal securities laws and that the Securities Act and the rules of the U.S. Securities and Exchange Commission (the '**Commission**') provide in substance that the Investor may dispose of the Securities only pursuant to an effective registration statement under the Securities Act or an exemption therefrom, and the Investor understands that the Issuer has no obligation or intention to register any of the Securities, or to take action so as to permit sales pursuant to the Securities Act (including Rule 144 thereunder). Accordingly, the Investor understands that under the Commission's rules, the Investor may dispose of the Securities principally only in 'private placements' which are exempt from registration under the Securities Act, in which event the transferee will acquire 'restricted securities' subject to the same limitations as in the hands of the

5

Investor. Consequently, the Investor understands that the Investor must bear the economic risks of the investment in the Securities for an indefinite period of time.

(s) The Investor understands that the Securities may not be transferred by the Investor for a period of one year unless any such transfer is made pursuant to the exemptions found in the regulation crowdfunding statutes and rules.

(t) The Investor agrees: (A) that the Investor will not sell, assign, pledge, give, transfer or otherwise dispose of the Securities or any interest therein, or make any offer or attempt to do any of the foregoing, except pursuant to a registration of the Securities under the Securities Act and all applicable State Securities Laws, or in a transaction which is exempt from the registration provisions of the Securities Act and all applicable State Securities Laws; and (B) that the Issuer and its affiliates shall not be required to give effect to any purported transfer of such Securities except upon compliance with the foregoing restrictions and any restrictions set forth in the Offering Documents.

8. Conditions to Obligations of the Investor and the Issuer. The obligations of the Investor to purchase and pay for the Securities specified on the signature page and of the Issuer to sell the Securities are subject to the satisfaction at or prior to the Closing of the following conditions precedent: the representations and warranties of the Issuer contained in Section 6 hereof and of the Investor contained in Section 7 hereof shall be true and correct as of the Closing in all respects with the same effect as though such representations and warranties had been made as of the Closing.

9. Obligations Irrevocable. The obligations of the Investor shall be irrevocable except as allowed under the laws of Regulation Crowdfunding.

10. Waiver, Amendment. Once this Subscription Agreement has been accepted by both parties, neither this Subscription Agreement nor any provisions hereof shall be modified, changed, discharged or terminated except by an instrument in writing, signed by the party against whom any waiver, change, discharge or termination is sought.

11. Assignability. Neither this Subscription Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable by either the Issuer or the Investor without the prior written consent of the other party.

12. Waiver of Jury Trial. THE INVESTOR IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT.

13. Submission to Jurisdiction. With respect to any suit, action or proceeding relating to any offers, purchases or sales of the Securities by the Investor (“Proceedings”), the Investor irrevocably submits to the jurisdiction of the federal or state chancery courts located in the County of New Castle, Wilmington, Delaware, which submission shall be exclusive unless none of such courts has lawful jurisdiction over such Proceedings.

6

14. Governing Law. This Subscription Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.

15. Section and Other Headings. The section and other headings contained in this Subscription Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Subscription Agreement.

16. Counterparts. This Subscription Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which together shall be deemed to be one and the same agreement.

17. Notices. All notices and other communications provided for herein shall be by email and shall be deemed to have been duly given on the day on which the receiver received such email if sent prior to 5:00 PM in the receiver's time and on the following business day if sent after 5:00 PM.

18. Binding Effect. The provisions of this Subscription Agreement shall be binding upon and accrue to the benefit of the parties hereto and their respective heirs, legal representatives, successors and assigns.

19. Survival. All representations, warranties and covenants contained in this Subscription Agreement shall survive (i) the acceptance of the subscription by the Issuer and the Closing, (ii) changes in the transactions, documents and instruments described in the Offering Documents which are not material or which are to the benefit of the Investor and (iii) the death or disability of the Investor.

[SIGNATURE PAGE FOLLOWS]

7

IN WITNESS WHEREOF, the Investor has executed this Subscription Agreement on:

_______________________    ______________________    ______________________
Month          Day          Year

INVESTOR:

By: _______________________
    Signature

Name: _______________________
    Print

State or Territory, and Country of Domicile: ______________________ United States of America

Aggregate Subscription Amount: US$ ______________________

The offer to purchase Securities as set forth above is confirmed and accepted by the Issuer
as to __________ shares of preferred units.

Date: ______________________

By: ______________________

8

**Attachment 6:** `dbttwtranscript.pdf`

Hi, I'm Colin Mochrie. And I have been tasked to assemble the greatest crew of improv comedians the world has ever seen.

So I cloned myself four times.

Unfortunately, clones don't live very long.

So I did the next best thing. I have traveled the globe for forty years and have seen improv comedy so good, it would make you believe magic is real.

I'm helping to create the largest platform for improv comedy, and I'm calling it Dry Bar Unscripted. It will be the sister channel to Dry Bar Comedy.

Dry Bar Comedy generates over a billion views a year. And profits millions. (TEXT DISCLAIMER: 'Past performance does not guarantee future performance.')

Only this will be the largest channel for improv comedy specials ever. It's basically a world record.

Hello, guinness? I'd like to make an entry into your book. No, not for best pantomime. The nerve.

That's why Dry Bar Unscripted is assembling the best improv comedians in the world. It'll be like the avengers, except with fewer abs and more pantomime. Just what everyone wants.

With Dry Bar unscripted, we are introducing the world to amazing improv comedy. The kind you can watch with your whole family.

All the pieces are in place to create the next big comedy platform. Fastest growing comedy channel? Check. The greatest improv comedians? Check. The world's most famous improv comedian? Wayne Brady? No.

All we need is comedy fans like you to bring it to life.

Investing in Dry Bar Unscripted could be the greatest decision of your life. Plus, it's so easy.

Step one: Click to view the investment page.

Step two: watch my original improv comedy special.

Step three: express interest in investing in Dry Bar Unscripted.

Step four: celebrate by making out with your wife. Get your hands off of her!

Imagine investing in sketch comedy before Saturday Night Live, or investing in standup comedy before Seinfeld. Or investing in friendship bracelets with Wayne Brady.

Click the link to express interest in investing in Dry Bar Unscripted today. (TEXT: 'Click the link to express interest today')

As with any investment, you should only invest as much as you're willing to lose.

But here's why we believe Dry Bar Unscripted could be the next big comedy platform.

If you had invested in Dry Bar Comedy back in 2016, today your investment would have 10 X'd in value.

(TEXT DISCLAIMER: Statements on revenue (money) or past performance do not guarantee future performance, nor any guarantee of profit. There are significant risks with investing. You should read all of the offering documents, including the risk factors, before investing.)

That's the only time I enjoy seeing that many exes. College was a dark time.

Imagine what Dry Bar Unscripted can do building off the shoulders of comedy giants in a completely untapped market.

Dry Bar Unscripted is the biggest comedy innovation since the invention of puns or Ryan Stiles. And yes. He was invented. In a lab. You think anyone is that tall naturally? I'm six foot one, and I'm the short guy?

Dry Bar Unscripted has also partnered with Harmon Brothers, the viral ad agency that helped fund millions of dollars for shows like The Chosen, Tuttle Twins, and The Wingfeather Saga.

(TEXT DISCLAIMER: Past performance does not guarantee future performance.)

Plus, they have me, the sexiest face in improv comedy. I am not a piece of meat, Colin. But thank you.

And if you express interest in the next ten minutes, I promise to do improv comedy for the next one hundred years. Or die trying.

(TEXT: Click the link to express interest today)

To invest in Dry Bar, the first thing you must do, is click that little click thing and then just shout 'yahoo.' We have a lot of improv and it will make you laugh. Invest in Dry Bar, unless you're a giraffe. There, that's enough.

(TEXT: Dry Bar Unscripted. Improv so good, you'll forget it's improv)

(TEXT DISCLAIMER: Dry Bar Unscripted is “testing the waters” to gauge investors in an offering of securities. No money or other consideration is being solicited, and, if sent, will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering materials are filed with the Securities and Exchange Commission. A prospective purchaser’s indication of interest is non-binding.

**Attachment 7:** `fbttwads2.pdf`

Zach Atherton

September 21, 2022 ·

**GAUGING INTEREST** in an investment opportunity.

Colin Mochrie (from Whose Line is it Anyway?) is creating the world's first platform for improv comedy called 'Dry Bar Unscripted' and the plan is to partner with Dry Bar Comedy, the world's largest library of comedy specials.

We are not accepting funds at this time but are gauging interest to see who would be interested in investing in 'Dry Bar Unscripted' if we launched a crowdfunding investment.

'Dry Bar Unscripted' is a platform for the best improv comedians around the world to film family-friendly improv comedy for you to watch (for free!) in your home, laughing with your loved ones.

Remember how awesome it was laughing at Colin and his improv buddies with your whole family every Friday night? Imagine having that with your family now, whenever you want!

Check out Colin's improv comedy special for 'Dry Bar Unscripted' and the potential investment opportunity at www.DryBarUnscripted.com

Legal made us say this last part: (1) no money or other consideration is being solicited, and if sent, will not be accepted; (2) no offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary's platform; (3) a prospective purchaser's indication of interest is non-binding.

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

DRYBARUNSCRIPTED.COM

**Get Notified If The Investment Goes Live**

With your help, we can bring hilarious, family-friendly improv comedy back into homes everywhere.

Learn more

Like

Comment

Share

Zach Atherton

September 21, 2022 ·

**GAUGING INTEREST** in an investment opportunity.

Colin Mochrie (from Whose Line is it Anyway?) is creating the world's first platform for improv comedy called 'Dry Bar Unscripted' and the plan is to partner with Dry Bar Comedy, the world's largest library of comedy specials.

We are not accepting funds at this time but are gauging interest to see who would be interested in investing in 'Dry Bar Unscripted' if we launched a crowdfunding investment.

'Dry Bar Unscripted' is a platform for the best improv comedians around the world to film family-friendly improv comedy for you to watch (for free!) in your home, laughing with your loved ones.

Remember how awesome it was laughing at Colin and his improv buddies with your whole family every Friday night? Imagine having that with your family now, whenever you want!

Check out Colin's improv comedy special for 'Dry Bar Unscripted' and the potential investment opportunity at www.DryBarUnscripted.com

Legal made us say this last part: (1) no money or other consideration is being solicited, and if sent, will not be accepted; (2) no offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary's platform; (3) a prospective purchaser's indication of interest is non-binding.

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

DRYBARUNSCRIPTED.COM

**Get Notified If The Investment Goes Live**

With your help, we can bring hilarious, family-friendly improv comedy back into homes everywhere.

Learn more

Like

Comment

Share

**Zach Atherton**

September 21, 2022 ·

**GAUGING INTEREST** in an investment opportunity.

Colin Mochrie (from Whose Line is it Anyway?) is creating the world's first platform for improv comedy called 'Dry Bar Unscripted' and the plan is to partner with Dry Bar Comedy, the world's largest library of comedy specials.

We are not accepting funds at this time but are gauging interest to see who would be interested in investing in 'Dry Bar Unscripted' if we launched a crowdfunding investment.

'Dry Bar Unscripted' is a platform for the best improv comedians around the world to film family-friendly improv comedy for you to watch (for free!) in your home, laughing with your loved ones.

Remember how awesome it was laughing at Colin and his improv buddies with your whole family every Friday night? Imagine having that with your family now, whenever you want!

Check out Colin's improv comedy special for 'Dry Bar Unscripted' and the potential investment opportunity at www.DryBarUnscripted.com

Legal made us say this last part: (1) no money or other consideration is being solicited, and if sent, will not be accepted; (2) no offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary's platform; (3) a prospective purchaser's indication of interest is non-binding.

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

Get Notified If The Investment Goes Live

DRYBARUNSCRIPTED.COM

Get Notified If The Investment Goes Live

With your help, we can bring hilarious, family-friendly improv comedy back into homes everywhere.

Watch more

Like

Comment

Share

**Zach Atherton**

September 21, 2022 ·

What if there was amazing family-friendly improv comedy you could watch with your loved ones every night?

Check out Colin's improv comedy special for "Dry Bar Unscripted" and the potential investment opportunity at www.DryBarUnscripted.com

Legal made us say this last part: (1) no money or other consideration is being solicited, and if sent, will not be accepted; (2) no offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary's platform; (3) a prospective purchaser's indication of interest is non-binding.

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

DRYBARUNSCRIPTED.COM

**Get Notified**

Help us bring family-friendly improv comedy back.

Learn more

Like

Comment

Share

**Zach Atherton**

September 21, 2022 · 🌐

What if there was amazing family-friendly improv comedy you could watch with your loved ones every night?

Check out Colin's improv comedy special for 'Dry Bar Unscripted' and the potential investment opportunity at www.DryBarUnscripted.com

Legal made us say this last part: (1) no money or other consideration is being solicited, and if sent, will not be accepted; (2) no offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary's platform; (3) a prospective purchaser's indication of interest is non-binding.

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

DRYBARUNSCRIPTED.COM

**Get Notified If The Investment Goes Live**

With your help, we can bring hilarious, family-friendly improv comedy back into homes everywhere.

Watch more

👍 Like

💬 Comment

🔗 Share

Zach Atherton

September 21, 2022 ·

**GAUGING INTEREST** in an investment opportunity.

Colin Mochrie (from Whose Line is it Anyway?) is creating the world's first platform for improv comedy called 'Dry Bar Unscripted' and the plan is to partner with Dry Bar Comedy, the world's largest library of comedy specials.

We are not accepting funds at this time but are gauging interest to see who would be interested in investing in 'Dry Bar Unscripted' if we launched a crowdfunding investment.

'Dry Bar Unscripted' is a platform for the best improv comedians around the world to film family-friendly improv comedy for you to watch (for free!) in your home, laughing with your loved ones.

Remember how awesome it was laughing at Colin and his improv buddies with your whole family every Friday night? Imagine having that with your family now, whenever you want!

Check out Colin's improv comedy special for 'Dry Bar Unscripted' and the potential investment opportunity at www.DryBarUnscripted.com

Legal made us say this last part: (1) no money or other consideration is being solicited, and if sent, will not be accepted; (2) no offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary's platform; (3) a prospective purchaser's indication of interest is non-binding.

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

DRYBARUNSCRIPTED.COM

**Get Notified If The Investment Goes Live**

With your help, we can bring hilarious, family-friendly improv comedy back into homes everywhere.

Watch more

Like

Comment

Share

**Zach Atherton**

September 21, 2022 ·

What if there was amazing family-friendly improv comedy you could watch with your loved ones every night?

Check out Colin's improv comedy special for 'Dry Bar Unscripted' and the potential investment opportunity at www.DryBarUnscripted.com

Legal made us say this last part: (1) no money or other consideration is being solicited, and if sent, will not be accepted; (2) no offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary's platform; (3) a prospective purchaser's indication of interest is non-binding.

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

DRYBARUNSCRIPTED.COM

**Get Notified If The Investment Goes Live**

With your help, we can bring hilarious, family-friendly improv comedy back into homes everywhere.

Watch more

Like

Comment

Share

**Zach Atherton**

September 21, 2022 · 🌐

What if there was amazing family-friendly improv comedy you could watch with your loved ones every night? 🌐

Check out Colin's improv comedy special for 'Dry Bar Unscripted' and the potential investment opportunity at www.DryBarUnscripted.com

Legal made us say this last part 🌐: (1) no money or other consideration is being solicited, and if sent, will not be accepted; (2) no offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary's platform; (3) a prospective purchaser's indication of interest is non-binding.

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

DRYBARUNSCRIPTED.COM

**Get Notified**

Help us bring family-friendly improv comedy back.

Learn more

👍 Like

💬 Comment

🔗 Share

**Zach Atherton**

September 21, 2022 · 🌐

Mochrie (from Whose Line is it Anyway?) is creating the world's first platform for improv comedy called 'Dry Bar Unscripted'

Remember how awesome it was laughing at Colin and his improv buddies with your whole family every Friday night? Imagine having that with your family now, whenever you want!

Check out Colin's improv comedy special for 'Dry Bar Unscripted' and the potential investment opportunity at DryBarUnscripted.com

Legal made us say this last part: (1) no money or other consideration is being solicited, and if sent, will not be accepted; (2) no offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary's platform; (3) a prospective purchaser's indication of interest is non-binding.

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

Get Notified If The Investment Goes Live

DRYBARUNSCRIPTED.COM

**Get Notified If The Investment Goes Live**

With your help, we can bring hilarious, family-friendly improv comedy back into homes everywhere.

Watch more

👍 Like

💬 Comment

🔗 Share

**Zach Atherton**

September 21, 2022 ·

Mochrie (from Whose Line is it Anyway?) is creating the world's first platform for improv comedy called 'Dry Bar Unscripted'

Remember how awesome it was laughing at Colin and his improv buddies with your whole family every Friday night? Imagine having that with your family now, whenever you want!

Check out Colin's improv comedy special for 'Dry Bar Unscripted' and the potential investment opportunity at DryBarUnscripted.com

Legal made us say this last part: (1) no money or other consideration is being solicited, and if sent, will not be accepted; (2) no offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary's platform; (3) a prospective purchaser's indication of interest is non-binding.

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

DRYBARUNSCRIPTED.COM

**Get Notified If The Investment Goes Live**

With your help, we can bring hilarious, family-friendly improv comedy back into homes everywhere.

Watch more

Like

Comment

Share

**Attachment 8:** `dbuafttwpage2.pdf`

ANGEL
COMMERCE

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

EXPRESS INTEREST IN | Offering: Reservation

# Dry Bar Unscripted

$5,413,480

Expressed Interest

₦ 3,096 People*

EXPRESS INTEREST

*No money or other consideration is being solicited, and if sent, will not be accepted. No sales will be made or commitments to purchase accepted until a form C (if a key C offering is chosen) offering statement is filed with the Securities and Exchange Commission and only through an intermediary's platform (if a key C offering is chosen), and Prospective purchaser's indications of interest are non-binding.

and have seen improv comedy so good

OVERVIEW

OVERVIEW

# WATCH COLIN'S IMPROV COMEDY SPECIAL

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

$5,413,480

Expressed Interest

₦ 3,096 People*

EXPRESS INTEREST

*No money or other consideration is being solicited, and if sent, will not be accepted. No sales will be made or commitments to purchase accepted until a form C (if a key C offering is chosen) offering statement is filed with the Securities and Exchange Commission and only through an intermediary's platform (if a key C offering is chosen), and Prospective purchaser's indications of interest are non-binding.

# WHAT IS DRY BAR UNSCRIPTED?

Dry Bar Unscripted is the world's first platform for improv comedy specials created by Colin Mochrie from Whose Line is it Anyway? and Dry Bar Comedy, the world's largest library of comedy specials.

Improv comedians have delighted stages around the world for the past half century and now-with your help-we'll be bringing the best improv comedy under one digital roof.

# THE CHALLENGE

WHAT THE FUNDS WILL BE USED FOR

Creating a successful online comedy platform requires a volume play that traditional TV networks just

don't do.

If we went to Hollywood or Netflix, the most they would give us is a 10-episode run (if we're lucky). How many 1-season TV shows have you seen flop over the years? The Hollywood model is too risky.

To make Dry Bar Unscripted a smash hit, we'll need to produce a lot of improv comedy specials.

Before Dry Bar Comedy became the largest online library of stand-up comedy specials, generating over a billion views a year and millions in streaming revenue, it was a small startup, just like Dry Bar Unscripted.

Dry Bar produced over 75 original comedy specials before it tested into a profitable financial model.

With your investment, we can produce hundreds of improv comedy specials, reducing the financial risk, and greatly increasing the likelihood of a serious return on investment over time.

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

# BACKING vs INVESTING

# INVEST IN OWNERSHIP NOT A T-SHIRT

Regular crowdfunding campaigns ask you to fund their product for pledge gifts like a T-shirt or a sticker. Dry Bar Unscripted will be asking you to help fund our platform in exchange for shares of the company.

# OUR INVESTOR MODEL

- Our investor model is simple: help us fund the show, and you share in the profits.
- If you own 1% of the shares, you'll earn a penny for every dollar of profit Dry Bar Unscripted Generates.
- Dry Bar Comedy generates millions in revenue every year. Those pennies could really add up.
- We're not asking you to be a backer, we're inviting you to be a co-owner of the show.

Disclaimer: investments carry risk and do not guarantee any financial return. Only invest as much as you'd be willing to lose.

# BECOME A PART OF DRY BAR UNSCRIPTED!

Express Interest (It's Free)

# HOW IT WORKS

1 Tell us how much you're willing to invest
2 We'll contact you when funding is open
3 You invest as an owner, and we start production of Dry Bar Unscripted
4 We send you money if the show generates profits

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

Improv is ready for the mainstream and Dry Bar Unscripted will bring so much laughter to millions around the world.

WILL HINES

UPRIGHT CITIZENS BRIGADE, AUTHOR OF HOW TO BE THE GREATEST IMPROVISER ON EARTH

Saw the pilot and fell love with the idea. I believe it's going to be the next big thing in comedy shows.

ANDREA H
GATORSVILLE, FL

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

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

LOVED the show and had never considered improv before this, now it'll be my go-to!

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

FRANK P
SEATTLE, WA

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

### COLIN MOCHRIE

Colin is a Scottish-born Canadian actor, writer, producer and improvisational comedian, best known for his appearances on the British and US versions of the improvisational TV show Whose Line Is It Anyway?

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

### ZACH ATHERTON

Zach Atherton founded ImprovBroadway in 2014. ImprovBroadway produces 400+ family-friendly comedy shows a year. Atherton earned a Juris Doctorate and Master's of Public Administration from BYU. When he's not on stage, he's behind the scenes as Director of the Writers Room at the viral ad agency, Harmon Brothers.

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

### DRY BAR COMEDY

Dry Bar Comedy now has over eight million social media followers and has garnered over two BILLION online views and counting. Dry Bar Comedy's library of clean stand-up specials now tops 300+ with plans to produce multiple more seasons.

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

### HARMON BROTHERS

Harmon Brothers is the Utah-based video ad agency behind the most viral ad in internet history. Since 2013, the company has created over 30 groundbreaking, distinctive social media spots, which collectively have over 1.5 billion views and helped drive over $700 million in sales.

COPYRIGHT © 2023, ANGEL FUNDING.
ALL RIGHTS RESERVED.

Privacy

Terms of Service

How Crowdfunding Works

Electronic Consent

Portal Disclosures

**Attachment 9:** `dbttwpage2a.pdf`

DRYBAR
UNSCRIPTED

WATCH 1ST SPECIAL FOR FREE

DRYBAR
UNSCRIPTED

# THE INTERNET'S HOME FOR IMPROV COMEDY

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

# WANT TO BECOME A PART OWNER
IN DRY BAR UNSCRIPTED?

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

Learn More

# OVERVIEW

# WHAT IS DRY BAR UNSCRIPTED?

Dry Bar Unscripted is the world's first platform for improv comedy specials, and the sister channel to Dry Bar Comedy-the world's largest library of clean comedy specials, with over 4 billion views.

Improv comedians have delighted stages all around the world for the past half century, and with your help, we can bring the best into the Dry Bar family.

THE PLAN

Creating a successful online comedy platform requires a volume play that traditional TV networks just don't do.

If we went to Hollywood or Netflix, the most they would give us is a 10-episode run (if we're lucky). How many 1-season TV shows have you seen flop over the years? The Hollywood model is too risky.

To make Dry Bar Unscripted a smash hit, we'll need to produce a lot of improv comedy specials.

Before Dry Bar Comedy became the largest online library of stand-up comedy specials, generating over a billion views a year and millions in streaming revenue, it was a small startup, just like Dry Bar Unscripted.

Dry Bar produced over 75 original comedy specials before it tested into a profitable financial model.

In the next year, we hope to produce over 50 original improv Comedy Specials

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

NEVER MISS A
DRY BAR UNSCRIPTED UPDATE

Your Email Address

SUBMIT

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

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

## WHAT PEOPLE ARE SAYING

ABOUT DRY BAR UNSCRIPTED

considered improv before this, now it'll be my go-to!

-FRANK P.
Seattle, WA

Improv is ready for the mainstream and Dry Bar Unscripted will bring so much laughter to millions around the world.

-BILL HINES.
Upright Citizens Brigade, Author of How To Be The Greatest Impression On Earth

Saw the pilot and fell love with the idea. I believe it's going to be the next big thing in comedy shows.

-ANDREA H.
Bakersville, AL

### ZACH ATHERTON

Zach Atherton (ImprovBroadway, Dry Bar Comedy, Musical Monday) is a 20-year improv comedy veteran, whose viral improv videos were seen over 50 million times last year.

### DRY BAR COMEDY

Dry Bar Comedy now has over eight million social media followers and has garnered over four BILLION online views and counting. Dry Bar Comedy's library of clean stand-up specials now tops 300+ with plans to produce multiple more seasons.

### HARMON BROTHERS

Harmon Brothers is the Utah-based video ad agency behind the most viral ad in internet history. Since 2013, the company has created over 30 groundbreaking, distinctive social media spots, which collectively have over 1.5 billion views and helped drive over $700 million in sales.

### COLIN MOCHRIE & BRAD SHERWOOD

Colin Mochrie and Brad Sherwood are legendary improv comedians from the hit show Whose Line is it Anyway? (Which just filmed its 19th season). We are so blessed to have these two be in the Dry Bar family.

DryBar Unscripted
Zach Atherton | (800) 246-2000 | drybarunscripted@gmail.com
Terms & Conditions | Copyright © 2022 Dry Bar Unscripted
ALL RIGHTS RESERVED.

If an offering were to be launched for

# Dry Bar Unscripted

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*No money or other consideration is being solicited, and if sent, will not be accepted; No sales will be made or commitments to purchase accepted until a Form C (if a Reg CF offering is chosen) offering statement is filed with the Securities and Exchange Commission and only through an intermediary's platform (if a Reg CF offering is chosen); and Prospective purchaser's indications of interest are non-binding.

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

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** Dry Bar Unscripted, Inc.

**Legal Status:** Corporation

**Jurisdiction of Incorporation/Organization:** DE

**Date of Organization:** 11-09-2022

**Physical Address:** 2601 NORTH CANYON ROAD, PROVO, UT, 84604

**Issuer Website:** invest.angel.com/unscripted

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

**Intermediary Name:** VAS Portal, LLC

**Intermediary CIK:** 0001749383

**Intermediary File Number:** 007-00165

**Intermediary CRD Number:** 298941

### Offering Information

**Compensation to Intermediary:** 7% of the amount actually raised to be paid in cash, and such number of securities of the same class offered under this offering equal to 1% of the total number issued in this offering, and reimbursement for out of pocket third party expenses.

**Type of Security Offered:** Preferred Stock

**Number of Securities Offered:** 500000

**Price per Security:** $0.50

**Target Offering Amount:** $250,000.00

**Oversubscription Accepted:** Yes

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

**Maximum Offering Amount:** $5,000,000.00

**Deadline to Reach Target Amount:** 02-16-2023

### Annual Report Disclosure Requirements

**Current Number of Employees:** 0.00

**Total Assets (Most Recent Fiscal Year):** $65,638.00

**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):** $59,638.00

**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):** $-23,515.00

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

**Jurisdictions Offered:**

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

### Signatures

**Issuer:** Dry Bar Unscripted, Inc.

**Signature:** Zachary Atherton

**Title:** President

---

**Signature:** Zachary Atherton

**Title:** President, Sole Board Member, Secretary, and Treasurer

**Date:** 01-19-2023