# EDGAR Filing Document

**Accession Number:** 0001862675
**File Stem:** 0001670254-23-000189
**Filing Date:** 2023-3
**Character Count:** 365623
**Document Hash:** fbdfe419f2ac0ceeb8aba9040bc27604
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001670254-23-000189.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001670254-23-000189

**CONFORMED SUBMISSION TYPE**: C

**PUBLIC DOCUMENT COUNT**: 12

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Contractor Plus, Inc.
- **CENTRAL INDEX KEY:** 0001862675
- **IRS NUMBER:** 320620996
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** C
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-31902
- **FILM NUMBER:** 23689517

**BUSINESS ADDRESS:**
- **STREET 1:** 1317 EDGEWATER DRIVE
- **STREET 2:** SUITE 719
- **CITY:** ORLANDO
- **STATE:** FL
- **ZIP:** 32804
- **BUSINESS PHONE:** 5106982462

**MAIL ADDRESS:**
- **STREET 1:** 1317 EDGEWATER DRIVE
- **STREET 2:** SUITE 719
- **CITY:** ORLANDO
- **STATE:** FL
- **ZIP:** 32804

## Ex-99

### Attached PDF Documents

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

# Form C

## Cover Page

Name of issuer:

Contractor Plus, Inc.

Legal status of issuer:

Form: Corporation

Jurisdiction of incorporation/Organization: DE

Date of organization: 2/1/2020

Physical address of issuer:

1317 Edgewater Drive

Suite 719

Orlando FL 32804

Website of issuer:

https://contractorplus.com

Name of intermediary through which the offering will be conducted:

Weifunder Portal LLC

CIM number of intermediary:

0001870254

SEC file number of intermediary:

007-00033

CRO number, if applicable, of intermediary:

283503

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:

6.5% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the issuer in connection with the offering.

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

No

Type of security offered:

☐ Common Stock

☐ Preferred Stock

☐ Debt

☑ Other

If Other, describe the security offered:

Convertible Note

Target number of securities to be offered:

50,000

Price:

$1.00000

Method for determining price:

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

Target offering amount:

$50,000.00

Oversubscriptions accepted:

☑ Yes

☐ No

If yes, disclose how oversubscriptions will be allocated:

☐ Pre-rata basis

☐ First-come, first-served basis

☑ Other

If other, describe how oversubscriptions will be allocated:

As determined by the issuer

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

$390,000.00

Deadline to reach the target offering amount:

4/30/2023

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 cancelled and committed funds will be returned.

Current number of entries:

14

|  | Most recent fiscal year-end: | Prior fiscal year-end: |
| --- | --- | --- |
| Total Assets: | $45,815.00 | $558.00 |
| Cash & Cash Equivalents: | $44,416.00 | $558.00 |
| Accounts Receivable: | $1,271.00 | $0.00 |
| Short-term Debt: | $15,423.00 | $549.00 |
| Long-term Debt: | $123,208.00 | $7,904.00 |
| Reserves/Sales: | $26,454.00 | $340.00 |
| Cost of Goods Sold: | $0.00 | $0.00 |
| Taxes Paid: | $0.00 | $0.00 |
| Net Income: | ($84,924.00) | ($7,945.00) |

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

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

## Offering Statement

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.

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:

Contractor Plus, Inc.

### COMPANY ELIGIBILITY

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

- Organized under, and subject to, the laws of a State or territory of the United States or the District of Columbia.
- Not subject to the requirement to file reports pursuant to Section 13 or Section 16(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.
- 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 are 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 502 of Regulation Crowdfunding?

☐ Yes ☑ 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:

| Director | Principal Occupation | Past Employer | Year Joined as Director |
| --- | --- | --- | --- |
| Justin Smith | CEO | Contractor Plus, Inc. | 2020 |
| Roshaniel Sethia | CTO | Contractor Plus, Inc. | 2020 |

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

### 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:

| Officer | Positions Held | Year Joined |
| --- | --- | --- |
| Justin Smith | CEO | 2020 |
| Justin Smith | President | 2020 |
| Roshaniel Sethia | CTO | 2020 |

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

DISTRICT STATE OFFICE SECTION 7. For purposes of this Question 1, the name officer means a presiding, non-presiding secretary, treasurer or principal financial officer, comptroller or principal accounting officer, and any person that contracts performing similar functions.

### 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 Now Held | % of voting power Prior to Offering |
| --- | --- | --- |
| Roshaniel Sethia | 2500000.0 Common Stock | 45.7 |
| Justin Smith | 2500000.0 Common Stock | 45.7 |

DISTRICTARY REQUISITION 6: The above information must be provided at all times 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 in case it is drawn 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, warrants or rights, 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 for shares in such discretion or control - as, for example, a no-interest firm should be included as being “beneficially owned.” The should include an explanation of these circumstances in a footnote to the “Number of and Class of Securities Now Held.” To calculate outstanding voting rights securities, assume all outstanding options are assessed 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

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

DISTRICTARY REQUISITION 7: Wefunder will provide your company's Wefunder profile as an appendix (Appendix A) to the Form C in PDF format. The submission will include all Q&A items and "read more" links in an uncollapsed format. All values will be transmitted.

This means that any information provided in your Wefunder profile will be provided at the SEC in response to this question. As a result, your company will be permitted to have the measurements and emissions in your profile under the Securities Act of 1933, which requires you to provide material information to the public and anticipated business plan. Please review your Wefunder profile carefully to ensure it provides all material information, is not false or misleading, and does not omit any information that would cause the information included to be false or misleading.

### 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:

We're still early and have not reached cash flow positive. Although, we've been growing monthly, organically, with poor unit economies, and have pretty impressive traction, we haven't reached cash flow positive yet.

The founder, Justin Smith, is a felon. He was convicted of Drug Trafficking Conspiracy in 2014 and served nearly 6 years in federal custody. Him being a felon is a deterrent for many investors, VCs and people in general.

We're up against giants in both industries we're aiming to consolidate. On one side we have ServiceTitan whose raised over a $10 in funding, and at the other end we have ProCore and Buildortend. All have millions in revenue and the resources/ability to beat us to PMF if we fail to raise these funds. If we are successful however, I don't believe we can be stopped.

We don't currently hold any patents on any proprietary tech. We are building AI and other features that will definitely need patented, but none of our IP is currently protected.

Robert Rosey and Joe Chase are both currently part-time employees. As such, it is likely that the company will not make the same progress as it would if that were not the case. Upon successfully completing this round, this should change however.

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

DISTRICTARY REQUISITION 8: Avoid potential investments and include only those factors that are unique in the issuer. This is also should be referred to the issuer's business and the offering and should not report the factors addressed in the legality of both above. No specific number of risk factors is required to be identified.

## The Offering

### USE OF FUNDS

9. What is the purpose of this offering?

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

10. How does the issuer intend to use the proceeds of this offering?

If we raise: $50,000

Use of Proceeds: After the 6.5% Wefunder platform fees, we will allocate 100% to product (devops)

If we raise: $380,000

Use of Proceeds: After the 6.5% applicable Wefunder platform and misc. legal fees (roughly 10% total), we plan to allocate 35% to attaining product market fit (product/devops), 35% to business development (customer acquisition), 20% to customer success (customer activation & retention),

INSTRUCTION TO QUESTION 11. An issuer must provide a reasonable detailed description of any intended use of proceeds, such that investors are provided with an adequate amount of information to understand how the offering proceeds will be used. If an issuer has identified a range of possible uses, the issuer should identify and describe each probable use and the factors the issuer may consider in allocating proceeds among the potential uses. If the issuer will accept proceeds in excess of the target offering amount, the issuer must describe the purpose, method for allocating overvalued options, and intended use of the excess proceeds with similar specificity. Please include all potential uses of the proceeds of the offering, including any that may apply only in the case of overvalued options. If you do not do so, you may have to respond to amend your Form C. Wefander is not responsible for any failure by you to describe a potential use of offering proceeds.

# DELIVERY & CANCELLATIONS

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

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

12. How can an investor cancel an investment commitment?

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

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

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

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

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

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

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

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

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

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

# Ownership and Capital Structure

# THE OFFERING

13. Describe the terms of the securities being offered.

Convertible note with $4,600,000.00 valuation cap: 20.000% discount; 5.0% interest.

See exact security attached as Appendix B, Investor Contracts.

Type of Security: Convertible Promissory Notes ("Notes").

Amount to be Offered: The goal of the raise is $50,000.00

Valuation Cap: $4,600,000.00

Discount Rate: 80%

Maturity Date: 24 months from the Effective Date.

Interest Rate: 5.0%. Interest shall commence with the date of the convertible note and shall continue on the outstanding principal amount until paid in full or converted. Interest shall be computed on the basis of a year of 365 days for the actual number of days elapsed. All unpaid interest and principal shall be due and payable upon request of the Majority Holders on or after the Maturity Date.

Early-Bird: Investors investing in the first $100,000.00, will receive a valuation cap of

$3,800,000.00

and a discount rate of 80.000%.

Conversion and Repayment

### (a) Conversion Upon Qualified Financing

Conversion upon a Qualified Financing. In the event that the Company issues and sells its

equity securities to investors (the "Investors") while this Note remains outstanding in an equity financing with total proceeds to the Company of not less than $1000000 (excluding the conversion of the Notes or other convertible securities issued for capital raising purposes (e.g.,

Simple Agreements for Future Equity)) (a "Qualified Financing"), then the outstanding principal amount of this Note and any unpaid accrued interest shall automatically convert in

whole without any further action by the Holder into Equity Securities sold in the Qualified Financing at a conversion price equal to the lesser of (i) the price paid per

share for Equity Securities by the Investors in the Qualified Financing multiplied by 0.8,

and (ii) the quotient resulting from dividing $4600000 by the number of outstanding shares of common stock

of the Company immediately prior to the

Qualified Financing (assuming conversion of all securities convertible into common stock and exercise of all outstanding options and warrants, but excluding the

shares of equity securities of the Company issuable upon the conversion of the Notes or other convertible securities issued for capital raising purposes

(e.g., Simple Agreements for Future Equity)). The issuance of Equity Securities pursuant to the conversion of this Note shall be upon and subject to the same terms and conditions

applicable to Equity Securities sold in the Qualified Financing. Notwithstanding this paragraph, if the conversion price of the Notes as determined pursuant to this paragraph

(the "Conversion Price") is less than the price per share at which Equity Securities are issued in the Qualified Financing, the Company may, solely at its option, elect to convert this Note into shares of a newly created series of preferred stock having the identical rights, privileges, preferences and

restrictions as Equity Securities issued in the Qualified Financing, and otherwise on the same terms and conditions, other than with respect to (if applicable): (i) the per

share liquidation preference and the conversion price for purposes of price-based anti-dilution protection, which will equal the Conversion Price; and (ii) the per share dividend, which will be the same percentage of the Conversion Price as applied to determine the per share dividends of the Investors in the Qualified Financing relative to the purchase price paid by the Investors.

### (b) Conversion upon a Change of Control.

If the Company consummates a Change of Control (as defined in the Convertible Note)

while this Note remains outstanding, the Company shall repay the Holder in cash in

an amount equal to the outstanding principal amount of this Note plus any unpaid accrued interest on the original principal. For purposes of this Note, a

"Change of Control" means (i) a consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, other than any such consolidation, merger or reorganization in which the shares of capital stock of the Company immediately prior

to such consolidation, merger or reorganization continue to represent a majority of

the voting power of the surviving entity immediately after such consolidation, merger or reorganization; (ii) any transaction or series of related transactions to which the Company is a party in which in excess of 50% of the Company's voting

power is transferred; or (iii) the sale or transfer of all or substantially all of the Company's assets, or the exclusive license of all or substantially all of the Company's material intellectual property; provided that a Change of Control shall not include any transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by the Company or any successor,

indebtedness of the Company is cancelled or converted or a combination thereof. The

Company shall give the Holder notice of a Change of Control not less than 10 days prior to the anticipated date of consummation of the Change of Control. Any repayment

pursuant to this paragraph in connection with a Change of Control shall be subject

to any required tax withholdings, and may be made by the Company (or any party to

such Change of Control or its agent) following the Change of Control in connection

with payment procedures established in connection with such Change of Control.

### (c) Procedure for Conversion. Procedure for Conversion.

In connection with any conversion of this Note into capital stock, the Holder shall surrender this Note to the Company and deliver to the Company any documentation reasonably required by the Company (including, in the case of a Qualified Financing, all financing documents executed by the Investors in connection with such Qualified Financing). The Company shall not be required to issue or deliver the capital stock into which this Note may convert until the Holder has surrendered this Note to the Company and delivered to the Company any

such documentation. Upon the conversion of this Note into capital stock pursuant to the terms hereof, in lieu of any fractional shares to which the Holder would otherwise be entitled, the Company shall pay the Holder cash equal to

such fraction multiplied by the price at which this Note converts.

(d) Interest Accrual. If a Change of Control or Qualified Financing is consummated, all interest on this Note shall be deemed to have stopped accruing as of a date selected by the Company that is up to 10 days prior to the signing of the definitive agreement for the Change of Control or Qualified Financing.

### Senior Indebtedness

The indebtedness evidenced by this Note is subordinated in right of payment to the prior payment in full of any Senior indebtedness in existence on the date of this Note or hereafter incurred. "Senior Indebtedness" shall mean, unless expressly subordinated to or made on a parity with the amounts due under this Note, all amounts due in connection with (i) indebtedness of the Company to banks or other lending institutions regularly engaged in the business of lending money (excluding venture capital, investment banking or similar institutions and their affiliates, which sometimes engage in lending activities but which are primarily engaged in investments in equity securities), and (ii) any such indebtedness or any debentures, notes or other evidence of indebtedness issued in exchange for such Senior Indebtedness, or any indebtedness arising from the satisfaction of

such Senior Indebtedness by a guarantor.

## Securities Issued by the SPV

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

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

## Voting Rights

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

## Proxy to the Lead Investor

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

## Restriction on Transferability

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

14. Do the securities offered have voting rights?

☐ Yes
☐ No

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

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

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

Any term of this Note may be amended or waived with the written consent of the Company and the Holder. In addition, any term of this Note may be amended or waived with the written consent of the Company and the Majority Holders. Upon the effectuation of such waiver or amendment with the consent of the Majority Holders in conformance with this paragraph, such amendment or waiver shall be effective as to, and binding against the holders of, all of the Notes, and the Company shall promptly give written notice thereof to the Holder if the Holder has not previously consented to such amendment or waiver in writing; provided that the failure to give such notice shall not affect the validity of such amendment or waiver.

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

A. Wefunder Portal may amend the terms of an investment contract, provided that the amended terms are more favorable to the investor than the original terms; and
B. Wefunder Portal may reduce the amount of an investor's investment if the reason for the reduction is that the Company's offering is oversubscribed.

## 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. to the issuer;

2. to an accredited investor;

3. as part of an offering registered with the U.S. Securities and Exchange Commission; or

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, stopparent, 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 forms of any other outstanding securities or classes of securities of the issuer:

|  | Securities (or Amount) | Securities (or Amount) | Voting |
| --- | --- | --- | --- |
| Class of Security | Authorized | Outstanding | Rights |

Common

10000000

5465000

Yes

# Securities Reserved for

# Class of Security Issuance upon Exercise or Conversion

Warrants:

Options:

Describe any other rights:

Our preferred class is not yet authorized, but when it is, preferred stock will have liquidation preference over common stock.

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?

The holders of a majority-in-interest of voting rights in the Company could limit the Investor's rights in a material way. For example, those interest holders could vote to change the terms of the agreements governing the Company's operations or cause the Company to engage in additional offerings (including potentially a public offering). These changes could result in further limitations on the voting rights the Investor will have as an owner of equity in the Company, for example by diluting those rights or limiting them to certain types of events or consents. To the extent applicable, in cases where the rights of holders of convertible debt, SAFES, or other outstanding options or warrants are exercised, or if new awards are granted under our equity compensation plans, an Investor's interests in the Company may be diluted. This means that the pro-rata portion of the Company represented by the Investor's securities will decrease, which could also diminish the Investor's voting and/or economic rights. In addition, as discussed above, if a majority-in-interest of holders of securities with voting rights cause the Company to issue additional equity, an Investor's interest will typically also be diluted. Based on the risk that an Investor's rights could be limited, diluted or otherwise qualified, the Investor could lose all or part of his or her investment in the securities in this offering, and may never see positive returns. Additional risks related to the rights of other security holders are discussed below, in Question 20.

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?

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

For example, the shareholders may change the terms of the articles of incorporation for the company, change the terms of securities issued by the Company, change the management of the Company, and even force out minority holders of securities. The shareholders may make changes that affect the tax treatment of the Company in ways that are unfavorable to you but favorable to them. They may also vote to engage in new offerings and/or to register certain of the Company's securities in a way that negatively affects the value of the securities the Investor owns. Other holders of securities of the Company may also have access to more information than the Investor, leaving the Investor at a disadvantage with respect to any decisions regarding the securities he or she owns.

The shareholders have the right to redeem their securities at any time. Shareholders could decide to force the Company to redeem their securities at a time that is not favorable to the Investor and is damaging to the Company. Investors' exit may affect the value of the Company and/or its viability.

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

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

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

The initial amount invested in a Convertible Note is determined by the Investor, and we do not guarantee that the Convertible Note will be converted into any particular number of shares. As discussed in Question 13, when we engage in an offering of equity involving Stock, Investors may receive a number of shares of Preferred Stock calculated as either the conversion price equal to the lesser of (i) 80% of the price paid per share for Equity Securities by the Investors in the Qualified Financing or (ii) the price equal to the quotient of the valuation cap of $4,600,000.00 (the "Valuation Cap") divided by the aggregate number of outstanding shares of the Company's stock as of immediately prior to the initial closing of the Qualified Financing (assuming full conversion or exercise of all convertible and exercisable securities then outstanding, but excluding the shares of equity securities of the Company issuable upon the conversion of the Notes or any other debt). Because there will likely be no public market for our securities prior to an initial public offering or similar liquidity event, the price of the Stock that Investors will receive, and/or the total value of the Company's capitalization, will be determined by our board of directors. Among the factors we may consider in determining the price of Stock are prevailing market conditions, our financial information, market valuations of other companies that we believe to be comparable to us, estimates of our business potential, the present state of our development and other factors deemed relevant. In the future, we will perform valuations of our units that take into account, as applicable, factors such as the following:

- unrelated third party valuations;

- the price at which we sell other securities in light of the relative rights, preferences and privileges of those;

- our results of operations, financial position and capital resources;

- current business conditions and projections;

- the marketability or lack thereof of the securities;
- the hiring of key personnel and the experience of our management;
- the introduction of new products;
- the risk inherent in the development and expansion of our products;
- our stage of development and material risks related to our business;
- the likelihood of achieving a liquidity event, such as an initial public offering or a sale of our company given the;
- market conditions and the nature and history of our business;
- industry trends and competitive environment;
- trends in consumer spending, including consumer confidence;
- overall economic indicators, including gross domestic product, employment, inflation and interest rates; and
- the general economic outlook.

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

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

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

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

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

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

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

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

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

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

Transactions with related parties. The investor should be aware that there will be occasions when the Company may encounter potential conflicts of interest in its operations. On any issue involving conflicts of interest, the executive management and Board of Directors of the Company will be guided by their good faith judgement as to the Company's best interests. The Company may engage in transactions with affiliates, subsidiaries or other related parties, which may be on terms which are not arm's-length, but will be in all cases consistent with the duties of the management of the Company to its shareholders. By acquiring an interest in the Company, the investor will be deemed to have acknowledged the existence of any such actual or potential conflicts of interest and to have waived any claim with respect to any liability arising from the existence of any such conflict of interest.

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

| Loan |  |
| --- | --- |
| Lender | Justin Smith |
| Issue date | 12/29/20 |
| Amount | $7,904.00 |
| Outstanding principal plus interest | $7,904.00 as of 01/12/23 |
| Interest rate | 0.0% per annum |
| Maturity date | 11/30/21 |
| Current with payments | Yes |

Founder Issue

INSTRUCTION: REQUISITION 23: name the entities, amount noted, interest rate, maturity date, and any other material terms.

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

| Offering Date | Exemption | Security Type | Amount Sold | Use of Proceeds |
| --- | --- | --- | --- | --- |
| 10/2021 | Regulation | Convertible Note | $113,527 | General operations |
|  | Crew/Standing |  |  |  |

26. Was or is the issuer or any entities controlled by or under common control with the issuer a party to any transaction since the beginning of the issuer's last fiscal year, or any currently proposed transaction, where the amount involved exceeds five percent of the aggregate amount of capital raised by the issuer in reliance on Section 4(a)(b) of the Securities Act during the preceding 12-month period, including the amount the issuer seeks to raise in the current offering, in which any of the following persons had or is to have a direct or indirect material interest:

1. any director or officer of the issuer;
2. any person who is, as of the most recent practicable date, the beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power;
3. If the issuer was incorporated or organized within the past three years, any promoter of the issuer;
4. or any immediate family member of any of the foregoing persons.

☑ Yes
☐ No

For each transaction specify the person, relationship to issuer, nature of interest in transaction, and amount of interest:

| Name | Justin Smith |
| --- | --- |
| Amount invested | $7,904.00 |
| Transaction type | Loan |
| Issue date | 12/29/20 |
| Outstanding principal plus interest | $7,904.00 as of 01/12/23 |
| Interest rate | 0.6% per annum |
| Maturity date | 11/30/21 |
| Current with payments | Yes |
| Relationship | Director |

INSTRUCTION: REQUISITION 26. The term transaction includes: that 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 (3) shall be determined as of a date due to no more than 120 days prior to the date of filing of this offering statement and using the same calculation described in Questions 4 of this Question and Answer format.

The term "number of the family" includes any child, stepchild, grandchild, parent, nappasmic, 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 "general equivalent" means a substitute occupying a relationship generally equivalent to that of a spouse.

Complete the amount of a related party's interest in any transaction without regard to the amount of the people or have involved in the transaction. Where it is not practicable to meet 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?

☑ Yes
☐ No

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

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

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

### Overview

We recognized the need for a solution like this while managing 800 properties and operating a handyman company. The founder grew up with a mother who's a licensed contractor.

We're building the definitive mobile-first operating system for contractors, CRM, Estimating, Invoking, Payments, Contracts, Scheduling, Subcontractor Management, Compliance, Inventory Management, BLE Asset Tracking, Lead Generation/Customer Acquisition, Training/Education, Staffing, everything contractors need under one hood.

Successful consolidation of the Field Service Management and Construction Management Software markets. 5%+ of the market share. $18+ valuation.

### Milestones

Contractor Plus, Inc. was incorporated in the State of Delaware in February 2020.

Since then, we have:

- Bootstrapped to $150K+ in revenues, $8,500+ MBR, 19,000+ users, 540+ PAYING CUSTOMERS!
- Integrations with The Home Depot, Chase, NEXT, CompanyCam, Thumbtack & Industry Leading Solutions
- Strategic Network Effects to gain significant share of Field Service Management Software Market
- Specific Goals & Actionable Plan To Scale Customer Acquisition & Grow To $3M+ ARR by Q4 2024.
- Field Service Management software market has a 19% CAGR. A $25B+ Market Opportunity by 2030.
- Noteworthy advisors including Ryan Pineda, Brandon Schlichter and Mike Demler.
- Consistent MBR growth (126% in the last year) currently around $9,000 with single digit churn.

### Historical Results of Operations

Our company was organized in February 2020 and has limited operations upon which prospective investors may base an evaluation of its performance.

- Berman & Oren Hargis. For the period ended December 31, 2021, the Company had revenues of $26,454 compared to the year ended December 31, 2020, when the Company had revenues of $340.
- Aron. As of December 31, 2021, the Company had total assets of $45,815, including $44,416 in cash. As of December 31, 2020, the Company had $558 in total assets, including $558 in cash.
- Sol-Lew. The Company has had net losses of $84,924 and net losses of $7,945 for the fiscal years ended December 31, 2021 and December 31, 2020, respectively.
- Lubbock. The Company's liabilities totaled $138,631 for the fiscal year ended December 31, 2021 and $8,453 for the fiscal year ended December 31, 2020.

### Related Party Transaction

Refer to Question 26 of this Form C for disclosure of all related party transactions.

### Liquidity & Capital Resources

To date, the company has been financed with $7,904 in debt from the founder and $115,307 in convertible notes.

After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 24 months before we need to raise further capital.

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

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

### Runway & Short/Mid Term Expenses

Contractor Plus, Inc. cash in hand is $9,704, as of October 2022. Over the last three months, revenues have averaged $9,962.15/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $12,870.06/month, for an average burn rate of $2,907.93 per month. Our intent is to be profitable in 12 months.

Since December '21 our revenue has increased by 152% and our NET income has improved by 269%. Our net operating loss was 267% in December '21, whereas in September 2022 our net operating loss was 8%. Our month over month losses have decreased significantly and our baseline MBR growth continues to trend upwards. We now have single digit net churn (3.47% in September '22). Our customer lifetime value has more than doubled, now at $256. We're now preparing to roll out our new unit economics with more simplified, improved (increased) pricing which will significantly multiply our baseline revenue and LTV.

Based solely on our existing growth rate of 7.25% since January, we anticipate our MBR to reach $17,802 by March 2023. Our expenses have seen no significant increase and over the last 3 months are averaging $12,870, but our revenues continue to consistently trend upward. This does not take into account that we are increasing our pricing to $29/year/month. Our average PRO subscriber has 2.4 sub users, so the price per user will be increasing from $5.83 to $29, or $97.42%. The maximum potential MBR in 6 months could be $57,705.28. If we complete the raise successfully, we will be increasing our burn to approximately $27,500/month to reach our MINIMUM target MBR of $100K in 12 months.

We have not reached cash flow positive yet. In October, we were negative by only a couple hundred dollars. We have calculated that we need to be able to burn $27.56/month for 9-12 months in order to reach $100K MBR. We haven't invested in customer acquisition, but in our trial with paid acquisition we were spending $54 to acquire one paid customer with a LTV of $196. The NET ROAS would end up being $142. We are currently around $9k MBR with an average ticket of $16, we'd need 188 customers, which we should be able to acquire for $10,152, assuming our paid acquisition trial data from nearly two years ago remains valid. More realistically, I think we'll need to spend at least an extra $5k/month for 3-4 months to reach cash flow positive.

We are earning additional revenue from payment facilitation (WePay/Chase Bank) of around $1,000/monthly, revenue share from Lead Generation (Thumbtack) of around $500 monthly and revenue share from NEXT insurance of around $2000 monthly. We have more partnerships and integrations currently in development. If we do not have sufficient capitalization to cover our operating expenses during the raise, we will either initiate a rolling close once the raise minimum is met, the CEO may issue a directors loan, or open BLOCs or take out an installment loan.

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

DISTRIBUTION: BY DECEMBER 31. The discussion must cover each year for which financial statements are provided. For issuers with no prior operating history, the discussion should focus on financial 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 accounts should expect in the future. Take into account the proceeds of the offering and any

other issues 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 visibility of the business, and how quickly the issuer anticipates using its available cash. Describe the other available sources of capital in the business, such as time of credit or required commitments to shareholders. References to the issuer in this Question 25 and these instructions refer to the issuer and its predecessors, if any.

## FINANCIAL INFORMATION

25. Include financial statements covering the two most recently completed fiscal years or the period(s) since inception, if shorter

Refer to Appendix C, Financial Statements

1. Justin Smith, certify that:

(1) the financial statements of Contractor Plus, Inc. included in this Form are true and complete in all material respects; and

(2) the financial information of Contractor Plus, Inc. included in this Form reflects accurately the information reported on the tax return for Contractor Plus, Inc. filed for the most recently completed fiscal year.

Justin Smith
CEO

## STAKEHOLDER ELIGIBILITY

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, 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 18, 2016

(1) Has any such person been convicted, within 10 years (or five years, in the case of issues, 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? ☐ Yes ☑ No

ii. Involving the making of any false filing with the Commission? ☐ Yes ☑ 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? ☐ Yes ☑ 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, endorses 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? ☐ Yes ☑ No

ii. Involving the making of any false filing with the Commission? ☐ Yes ☑ 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? ☐ Yes ☑ 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 supersedes 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? ☐ Yes ☑ No

B. engaging in the business of securities, insurance or banking? ☐ Yes ☑ No

C. engaging in savings association or credit union activities? ☐ Yes ☑ 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? ☐ Yes ☑ No

(4) Is any such person subject to an order of the Commission entered pursuant to Section 15(b) or 108(c) of the Exchange Act or Section 203(b) 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? ☐ Yes ☑ No

ii. places limitations on the activities, functions or operations of such person? ☐ Yes ☑ No

iii. bars such person from being associated with any entity or from participating in the offering of any penny stack? ☐ Yes ☑ 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 scanner-based anti-fraud provision of the federal securities laws, including without limitation Section 17(a)(3) of the Securities Act, Section 10(b) of the Exchange Act, Section 10(c)(3) of the Exchange Act and Section 206(1) of the Investment Advisers Act of 1940 or any other sale or regulation thereunder? ☐ Yes ☑ No
ii. Section 5 of the Securities Act? ☐ Yes ☑ 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?

☐ Yes ☑ 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?

☐ Yes ☑ 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

Should states, media service to constitute a scheme or service for obtaining money or property through the mail by means of false representations?

☐ Yes ☑ 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.

RESTRICTIONS PROPOSED IN 10. Final order means a written directive or declaratory statement issued by a federal or state agency, described in Rule 20(a)(1) of Regulation Crowdfunding, under applicable statutory authority that provides for notice and an opportunity for hearing, which constitutes a final disposition or action by the 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 event.

## OTHER MATERIAL INFORMATION

11. 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.

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

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

The Lead Investor can quit at any time or can be removed by Wefunder Inc. for cause or pursuant to a vote of Investors as detailed in the Lead Investor Agreement. In the event the Lead Investor quits or is removed, the Company will choose a Successor Lead Investor who must be approved by Wefunder Inc. The identity of the Successor Lead Investor will be disclosed to Investors, and those that have a Proxy in effect can choose to either leave such Proxy in place or revoke such Proxy during a 5-day period beginning with notice of the replacement of the Lead Investor.

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

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

Investors that wish to purchase securities related to the Company through Wefunder Portal must agree to give the Proxy described above to the Lead Investor, provided that if the Lead Investor is replaced, the Investor will have a 5-day period during which he or she may revoke the Proxy. If the Proxy is not revoked during this 5-day period, it will remain in effect.

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

RESTRICTIONS PROPOSED IN 10. If information is presented to investors in a format, media or other means not able to be reflected in an available 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 sales, sales or other dynamic media or format, a transcript or description of such disclosure.

## ONGOING REPORTING

11. 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.

12. Once posted, the annual report may be found on the issuer's website at:
https://contractorplus.app/invest

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

1. the issuer is required to file reports under Exchange Act Sections 13(a) or 13(b);

2. the issuer has filed at least one annual report and has fewer than 300 holders of record;

3. the issuer has filed at least three annual reports and has total assets that do not exceed $10 million.

4. the issuer or another party purchases or repurchases all of the securities issued pursuant to Section 4(a)(6), including any payment in full of debt securities or any complete redemption of redeemable securities; or the issuer liquidates or dissolves in accordance with state law.

## APPENDICES

Appendix A: Business Description & Plan

Appendix B: Investor Contracts

SPV Subscription Agreement - Early Bird
Early Bird Cooley Go Convertible Note
SPV Subscription Agreement
Cooley Go Convertible Note

Appendix C: Financial Statements

Financials 1

Appendix D: Director & Officer Work History

Justin Smith
Roshanlal Sethia

Appendix E: Supporting Documents

ttw_communications_117828_031454.pdf

# Signatures

Intentional misstatements or omissions of facts constitute federal criminal violations. See 18 U.S.C. 1001.

The following documents will be filed with the SEC:

Cover Page XML

Offering Statement (this page)

Appendix A: Business Description & Plan

Appendix B: Investor Contracts

SPV Subscription Agreement - Early Bird

Early Bird Cooley Go Convertible Note

SPV Subscription Agreement

Cooley Go Convertible Note

Appendix C: Financial Statements

Financials 1

Appendix D: Director & Officer Work History

Justin Smith

Roshanlal Sethia

Appendix E: Supporting Documents

ttw_communications_117828_031454.pdf

Pursuant to the requirements of Sections 4(a)(6) and 4A of the Securities Act of 1933 and Regulation Crowdfunding (§ 227.100 et seq.), the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form C and has duly caused this Form to be signed on its behalf by the duly authorized undersigned.

Contractor Plus, Inc.

By

Justin Smith

CEO

Pursuant to the requirements of Sections 4(a)(6) and 4A of the Securities Act of 1933 and Regulation Crowdfunding (§ 227.100 et seq.), this Form C and Transfer Agent Agreement has been signed by the following persons in the capacities and on the dates indicated.

Roshanlal Sethia

CTO

2/28/2023

Justin Smith

CEO

2/27/2023

*and at least a majority of the financial directors or partners performing similar functions.*

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

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

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

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

# INVEST IN CONTRACTOR+

# The All-In-One App For Contractors

LEAD INVESTOR

Ethan Logan Strategic Investor

I'm not just investing in Contractor Plus - I'm investing in Justin. He's demonstrated an extreme willingness to do whatever it takes to prime his company for extreme growth, and of the many CEOs that come my way on a regular basis, Justin has undoubtedly stood out with his knowledge, passion, and determination to succeed. With a very high degree of confidence, I believe Contractor+ is a smart bet. These guys are the real deal, and with the right financial backing, I'm confident they're going to be unstoppable.

Invested $40,000 this round

contractorplus.app

Orlando FL

Technology

B2B

SaaS

Mobile Apps

Highlights

1. 1 Bootstrapped to \$180k+ in revenues, \$12k+ MRR, 20,000+ users, 540+ PAYING CUSTOMERS!
2. 2 Integrations with WePay, NEXT, CompanyCam, Thumbtack, Zapier & Industry Leading Solutions
3. 3 Strategic Network Effects to gain significant share of FSM & Contractor Software Market
4. 4 Field Service Management software market has a 19% CAGR.
5. 5 Noteworthy advisors including Ryan Pineda, Brandon Schlichter and Mike Demler.

## Our Team

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

### Justin Smith CEO

Justin grew up working with his mother, who's a licensed contractor. Started his career as a web developer. He grew a property management & maintenance company from 15 properties to 750+ properties under management and $2m ARR.

I recognized the need for a solution like this while managing 800 properties and operating a handyman company. I grew up with a mother who's a licensed contractor.

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

### Roshan Sethia CTO

Roshan has managed a team of 25+ designers, developers and IT professionals for over 10 years. He has launched two successful software applications, one with Justin, in 2013. He and Justin met in 2009 and have collaborated daily since.

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

### Ryan Pineda Strategic Advisor

Ryan has flipped over 550 properties and owns over 500 rentals. He has an intimate understanding of how contractors and REI's network. He now advises and educates real estate entrepreneurs and creators through Future Flippers and Wealthy Creator.

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

### **Brandon Schlichter** Strategic Advisor

Brandon is well known as the creator behind Investment Joy, with a collective 5.5m followers in the real estate and investment niche. He has 170+ doors and 5 successful businesses, including laundromats, car washes, and even the local newspaper!

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

### **Michael Fied** President, Contractor+ Websites

Michael is a tried and true entrepreneur. He leads a team of 9 highly proficient web designers and front-end developers. The Contractor+ Websites team services hundreds of satisfied contractors and multiple Fortune 500 companies.

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

### **Akash Parmar** Senior PHP Developer

Akash has a B.A. In Engineering from University of Mumbai. He's a highly skilled PHP developer, and fluent in nearly every relevant computer language. He leads our bi-weekly 'Akash's Mid-Day Mindfulness Meditation Sessions'

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

### **Ketan Sakulkar** Senior Android Developer

Ketan has worked as an Android Application Developer for the last 7 years. He has a degree in Engineering and is working on his MBA. His hobbies include building robots, high-tech gadgets, adventure puzzles & all the pleasures nature has to offer.

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

### **Priyanka Mhatre** Senior PHP Developer

Priyanka is an expert level PHP developer with over 10 years of experience. In her personal life she loves reading books and spending time with her husband Sachin and their 5 year old son Shrey.

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

### **Shivam Srivastava** Senior iOS Developer

Shivam joined the Contractor+ team with over a decade of experience in objective programming. He's an iOS wizard, having mastered Swift and C#. Shivam also has a knack for usability and product, which is rare to find in developers.

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

### **Nikhil Labde** Digital Marketing Manager Aka. 'The Dude'

Graphic design, administrative assistant, SEO, customer success, order fulfillment. Nikhil is wearing many hats, helping us grow this business. He's also the company jester. He's always got a quick witted joke or meme to share.

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

### **Aradhana Panda** Senior QA Analyst (Automation Testing)

Aradhana joined Contractor+ with nearly a decade of experience in Quality Assurance. Her primary area of focus is automation testing, helping make sure things don't break when we ship future updates and new features.

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

### **Prathamesh Kambli** Senior QA Analyst (Manual Testing)

Prathamesh is working as a full time manual QA tester, testing every new feature we ship on dozens of devices. In his free time he loves playing chess.

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

### **Tyler Sherman** Events Coordinator & Public Relations

Tyler has over 15 years of experience in real estate, directly working with and managing contractor relationships. He books noteworthy guests for countless well-known podcasts. He's currently serving Contractor+ part time assisting with events and PR

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

### **Eric Davis** Social Media Manager

Eric's profession is making people famous on social media. He works with nearly a dozen financial and real estate creators. He and his team handles the ideation, production, post-production and scheduling for maximum growth.

![img-15.jpeg](img-15.jpeg)

### **Robert Posey** Sales & Growth Advisor

Robert has a background in construction and has a fierce passion for sales. He's directly responsible for over $12M in sales in the last 3 years. His expertise is in the recruitment, placement, training, and management of highly skilled closers.

## Pitch

![img-16.jpeg](img-16.jpeg)

![img-17.jpeg](img-17.jpeg)

Google Play

Apple Store

Capterra

GetApp

Software Advice.

![img-18.jpeg](img-18.jpeg)

## OUR TEAM

The Contractor+ team is led by two full time Co-Founders, CEO Justin Smith and CTO Roshan Sethia.

They have 10+ full time employees.

![img-19.jpeg](img-19.jpeg)

**JUSTIN SMITH**  
CEO

![img-20.jpeg](img-20.jpeg)

**ROSHAN SETHIA**  
CTO

**RYAN PINEDA**  
ADVISOR

![img-21.jpeg](img-21.jpeg)

**BRANDON SCHLICHTER**  
ADVISOR

![img-22.jpeg](img-22.jpeg)

## EARLY TRACTION & KPI's

Beta Launched in July 2020..

![img-23.jpeg](img-23.jpeg)

We just started experimenting with paid customer acquisition.
This data set is limited to one channel and based on LTV, not immediate revenue.
Will be working to identify the most profitable CA channels.

## THE PROBLEMS WE'RE SOLVING

**Contractors are great at fixing and building things but they're terrible at running their business.**

- They forget to follow up.
- They lack professionalism.
- They lack organization.
- Their books are a mess or non-existent.
- They don't know how to get new clients & scale.
- They don't know how to attract & retain quality talent.

**More importantly, no existing solution truly addresses the way contractors collaborate and network with one another.**

Contractors may work for themselves this week and work as a sub for someone else next week. No existing solution facilitates proactive networking, collaboration and referrals for contractors.

![img-24.jpeg](img-24.jpeg)

## OUR SOLUTION!

![img-25.jpeg](img-25.jpeg)

# ONE APP

Everything Contractors Need.

- Industry standard CRM for Leads, Clients, Subs & Vendors
- End-To-End Job / Project Management
- Custom Workflows & Automations
- Effective Collaboration With Other Contractors
- Business Growth Education & Mentorship
- Marketing, Referrals & Lead Generation Services

Contractor+ helps contractors **UNITE** their teams, **IMPRESS** their clients and **GROW** their businesses.

![img-26.jpeg](img-26.jpeg)

## MARKET OPPORTUNITY

![img-27.jpeg](img-27.jpeg)

## COMPETITIVE LANDSCAPE

![img-28.jpeg](img-28.jpeg)

# PRODUCT

Contractor+ streamlines the entire process flow for field service contractors from the beginning to end of every project.

We help home remodeling contractors and handyman companies get organized and strengthen relationships with their clients and their colleagues.

### Contractor+ Is Providing The Following Solutions:

- **CRM** Leads Manager & CRM Track Your Leads & Clients
- **Truly Itemized Estimates** 5m+ Built-In Supply Prices & AI
- **Invoicing & Payments** Contractor+ Payments (Chase)
- **Job Scheduling** Manage Multiple Jobs In Parallel
- **Post-Inspection Reports** One Report With Before & Afters
- **Contracts & E-Signatures** Lawyer Drafted Client Agreements
- **Tool & Equipment Library** Track tools with BLE Tool TagsTM
- **In-Network Referrals** Contractors Earn $ To Refer Each Other
- **Time & Mileage Tracking** (Track & verify your workers hours)
- **Accounting Automation** Sync with QuickBooks Online
- **Sub-Contractor Mgmt.** Full Compliance & Collaboration
- **Property Mgmt. Integrations** Pipe-in work orders from PM's

![img-29.jpeg](img-29.jpeg)

![Business & Revenue Model logo]()

# BUSINESS & REVENUE MODEL

Contractor+ App is FREE(mium) via download on Android and iOS, and on any PC via the web interface.

![img-30.jpeg](img-30.jpeg)

Base Subscription Pricing:

**PRO**

$29/User/Month

**ULTIMATE**

$49/User/Month

![img-31.jpeg](img-31.jpeg)

Additional Revenue Sources:

- Financing & Funding
- Bluetooth Tool TagsTM
- Payment Facilitation
- Contractor Branding & Websites
- Lead Generation
- Insurance Referrals

Future Revenue Sources:

- Training / Certification Programs
- Contractor Referral Network
- Contractor Job Board (Staffing)

We've forecasted $100M+ARR by 2027

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

THIS NOTE AND THE SECURITIES ISSUABLE UPON THE CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATES IN THE UNITED STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

# CONVERTIBLE PROMISSORY NOTE

Note Series: _______________
Date of Note: [EFFECTIVE DATE]
Principle Amount of Note: [INVESTMENT AMOUNT]

For value received Contractor Plus, Inc., a corporation (the "Company"), promises to pay to the undersigned holder or such party's assigns (the "Holder") the principal amount set forth above with simple interest on the outstanding principal amount at the rate of 5.0% per annum. Interest shall commence with the date hereof and shall continue on the outstanding principal amount until paid in full or converted. Interest shall be computed on the basis of a year of 365 days for the actual number of days elapsed. All unpaid interest and principal shall be due and payable upon request of the Majority Holders on or after Mar 1st, 2025 (the "Maturity Date").

# 1. BASIC TERMS.

a. Series of Notes. This convertible promissory note (the "Note") is issued as part of a series of notes designated by the Note Series above (collectively, the "Notes") and issued in a series of multiple closings to certain persons and entities (collectively, the "Holders"). The Company shall maintain a ledger of all Holders.
b. Payments. All payments of interest and principal shall be in lawful money of the United States of America and shall be made pro rata among all Holders. All payments shall be applied first to accrued interest, and thereafter to principal.
c. Prepayment. The Company may not prepay this Note prior to the Maturity Date without the consent of the Holders of a majority of the outstanding principal amount of the Notes (the "Majority Holders").

# 2. CONVERSION AND REPAYMENT.

a. Conversion upon a Qualified Financing. In the event that the Company issues and sells shares of its equity securities ("Equity Securities") to investors (the "Investors") while this Note remains outstanding in an equity financing with total proceeds to the Company of not less than $1000000 (excluding the conversion of the Notes or other convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)) (a "Qualified Financing"), then the outstanding principal amount of this Note and any unpaid accrued interest shall automatically convert in whole without any further action by the Holder into Equity Securities sold in the Qualified Financing at a conversion price equal to the lesser of (i) the price paid per share for Equity Securities by the Investors in the Qualified Financing multiplied by 0.8, and (ii) the quotient resulting from dividing $4600000.0 by the number of outstanding shares of common stock of the Company immediately prior to the Qualified Financing (assuming conversion of all securities convertible into common stock and exercise of all outstanding options and warrants, but excluding the shares of equity securities of the Company issuable upon the conversion of the Notes or other convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)). The issuance of Equity Securities pursuant to the conversion of this Note shall be upon and subject to the same terms and conditions applicable to Equity Securities sold in the Qualified Financing. Notwithstanding this paragraph, if the conversion price of the Notes as determined pursuant to this paragraph (the "Conversion Price") is less than the price per share at which Equity Securities are issued in the Qualified Financing, the Company may, solely at its option, elect to convert this Note into shares of a newly created series of preferred stock having the identical rights, privileges, preferences and restrictions as Equity Securities issued in the Qualified Financing, and otherwise on the same terms and conditions, other than with respect to (if applicable): (i) the per share liquidation preference and the conversion price for purposes of price-based anti-dilution protection, which will equal the Conversion Price; and (ii) the per share dividend, which will be the same percentage of the Conversion Price as applied to determine the per share dividends of the Investors in the Qualified Financing relative to the purchase price paid by the Investors.
b. Change of Control. If the Company consummates a Change of Control (as defined below) while this Note remains outstanding, the Company shall repay the Holder in cash in an amount equal to (i) the outstanding principal amount of this Note plus any unpaid accrued interest on the original principal, plus (ii) a repayment premium equal to 50% of the outstanding principal amount of this Note; provided, however, that upon the written election of the Holder made not less than five days prior to the Change of Control, the Company shall convert the outstanding principal balance of this Note and any unpaid accrued interest into shares of the Company's Common Stock at a conversion price equal to the quotient resulting from dividing $[VALUATION CAP] by the number of outstanding shares of Common Stock of

the Company immediately prior to the Change of Control (assuming conversion of all securities convertible into Common Stock and exercise of all outstanding options and warrants, but excluding the shares of equity securities of the Company issuable upon the conversion of Notes or other convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)). For purposes of this Note, a "Change of Control" means (i) a consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, other than any such consolidation, merger or reorganization in which the shares of capital stock of the Company immediately prior to such consolidation, merger or reorganization continue to represent a majority of the voting power of the surviving entity immediately after such consolidation, merger or reorganization; (ii) any transaction or series of related transactions to which the Company is a party in which in excess of 50% of the Company's voting power is transferred; or (iii) the sale or transfer of all or substantially all of the Company's assets, or the exclusive license of all or substantially all of the Company's material intellectual property; provided that a Change of Control shall not include any transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by the Company or any successor, indebtedness of the Company is cancelled or converted or a combination thereof. The Company shall give the Holder notice of a Change of Control not less than 10 days prior to the anticipated date of consummation of the Change of Control. Any repayment pursuant to this paragraph in connection with a Change of Control shall be subject to any required tax withholdings, and may be made by the Company (or any party to such Change of Control or its agent) following the Change of Control in connection with payment procedures established in connection with such Change of Control.

c. **Procedure for Conversion.** In connection with any conversion of this Note into capital stock, the Holder shall surrender this Note to the Company and deliver to the Company any documentation reasonably required by the Company (including, in the case of a Qualified Financing, all financing documents executed by the Investors in connection with such Qualified Financing). The Company shall not be required to issue or deliver the capital stock into which this Note may convert until the Holder has surrendered this Note to the Company and delivered to the Company any such documentation. Upon the conversion of this Note into capital stock pursuant to the terms hereof, in lieu of any fractional shares to which the Holder would otherwise be entitled, the Company shall pay the Holder cash equal to such fraction multiplied by the price at which this Note converts.

d. **Interest Accrual.** If a Change of Control or Qualified Financing is consummated, all interest on this Note shall be deemed to have stopped accruing as of a date selected by the Company that is up to 10 days prior to the signing of the definitive agreement for the Change of Control or Qualified Financing.

### 3. REPRESENTATIONS AND WARRANTIES

#### a. Representations and Warranties of the Company

i. **Organization, Good Standing and Qualification.** The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. The Company has the requisite corporate power to own and operate its properties and assets and to carry on its business as now conducted and as proposed to be conducted. The Company is duly qualified and is authorized to do business and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes such qualification necessary, except for those jurisdictions in which failure to do so would not have a material adverse effect on the Company or its business (a "Material Adverse Effect").

ii. **Corporate Power.** The Company has all requisite corporate power to issue this Note and to carry out and perform its obligations under this Note. The Company's Board of Directors (the "Board") has approved the issuance of this Note based upon a reasonable belief that the issuance of this Note is appropriate for the Company after reasonable inquiry concerning the Company's financing objectives and financial situation.

iii. **Authorization.** All corporate action on the part of the Company, the Board and the Company's stockholders necessary for the issuance and delivery of this Note has been taken. This Note constitutes a valid and binding obligation of the Company enforceable in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency, the relief of debtors and, with respect to rights to indemnity, subject to federal and state securities laws. Any securities issued upon conversion of this Note (the "Conversion Securities"), when issued in compliance with the provisions of this Note, will be validly issued, fully paid, nonassessable, free of any liens or encumbrances and issued in compliance with all applicable federal and securities laws.

iv. **Governmental Consents.** All consents, approvals, orders or authorizations of, or registrations, qualifications, designations, declarations or filings with, any governmental authority required on the part of the Company in connection with issuance of this Note has been obtained.

v. **Compliance with Laws.** To its knowledge, the Company is not in violation of any applicable statute, rule, regulation, order or restriction of any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of its business or the ownership of its properties, which violation of which would have a Material Adverse Effect.

vi. Compliance with Other Instruments. The Company is not in violation or default of any term of its certificate of incorporation or bylaws, or of any provision of any mortgage, indenture or contract to which it is a party and by which it is bound or of any judgment, decree, order or writ, other than such violation(s) that would not have a Material Adverse Effect. The execution, delivery and performance of this Note will not result in any such violation or be in conflict with, or constitute, with or without the passage of time and giving of notice, either a default under any such provision, instrument, judgment, decree, order or writ or an event that results in the creation of any lien, charge or encumbrance upon any assets of the Company or the suspension, revocation, impairment, forfeiture or nonrenewal of any material permit, license, authorization or approval applicable to the Company, its business or operations or any of its assets or properties. Without limiting the foregoing, the Company has obtained all waivers reasonably necessary with respect to any preemptive rights, rights of first refusal or similar rights, including any notice or offering periods provided for as part of any such rights, in order for the Company to consummate the transactions contemplated hereunder without any third party obtaining any rights to cause the Company to offer or issue any securities of the Company as a result of the consummation of the transactions contemplated hereunder.

vii. No "Bad Actor" Disqualification. The Company has exercised reasonable care to determine whether any Company Covered Person (as defined below) is subject to any of the "bad actor" disqualifications described in Rule 506(d)(1)(i) through (viii), as modified by Rules 506(d)(2) and (d)(3), under the Act ("Disqualification Events"). To the Company's knowledge, no Company Covered Person is subject to a Disqualification Event. The Company has complied, to the extent required, with any disclosure obligations under Rule 506(e) under the Act. For purposes of this Note, "Company Covered Persons" are those persons specified in Rule 506(d)(1) under the Act; provided, however, that Company Covered Persons do not include (a) any Holder, or (b) any person or entity that is deemed to be an affiliated issuer of the Company solely as a result of the relationship between the Company and any Holder.

viii. Offering. Assuming the accuracy of the representations and warranties of the Holder contained in subsection (b) below, the offer, issue and sale of this Note and the Conversion Securities (collectively, the "Securities") are and will be exempt from the registration and prospectus delivery requirements of the Act, and have been registered or qualified (or are exempt from registration and qualification) under the registration, permit or qualification requirements of all applicable state securities laws.

ix. Use of Proceeds. The Company shall use the proceeds of this Note solely for the operations of its business, and not for any personal, family or household purpose.

b. Representations and Warranties of the Holder. The Holder hereby represents and warrants to the Company as of the date hereof as follows:

i. Purchase for Own Account. The Holder is acquiring the Securities solely for the Holder's own account and beneficial interest for investment and not for sale or with a view to distribution of the Securities or any part thereof, has no present intention of selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the same, and does not presently have reason to anticipate a change in such intention.

ii. Information and Sophistication. Without lessening or obviating the representations and warranties of the Company set forth in subsection (a) above, the Holder hereby: (A) acknowledges that the Holder has received all the information the Holder has requested from the Company and the Holder considers necessary or appropriate for deciding whether to acquire the Securities. (B) represents that the Holder has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Securities and to obtain any additional information necessary to verify the accuracy of the information given the Holder and (C) further represents that the Holder has such knowledge and experience in financial and business matters that the Holder is capable of evaluating the merits and risk of this investment.

iii. Ability to Bear Economic Risk. The Holder acknowledges that investment in the Securities involves a high degree of risk, and represents that the Holder is able, without materially impairing the Holder's financial condition, to hold the Securities for an indefinite period of time and to suffer a complete loss of the Holder's investment.

iv. Further Limitations on Disposition. Without in any way limiting the representations set forth above, the Holder further agrees not to make any disposition of all or any portion of the Securities unless and until:

1. There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or
2. The Holder shall have notified the Company of the proposed disposition and furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and if reasonably requested by the Company, the Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration under the Act or any applicable state securities laws; provided that no such opinion shall be required for dispositions in compliance with Rule 144

under the Act, except in unusual circumstances.

3. Notwithstanding the provisions of paragraphs (1) and (2) above, no such registration statement or opinion of counsel shall be necessary for a transfer by the Holder to a partner (or retired partner) or member (or retired member) of the Holder in accordance with partnership or limited liability company interests, or transfers by gift, will or intestate succession to any spouse or lineal descendants or ancestors, if all transferees agree in writing to be subject to the terms hereof to the same extent as if they were the Holders hereunder.

c. **No "Bad Actor" Disqualification.** The Holder represents and warrants that neither (A) the Holder nor (B) any entity that controls the Holder or is under the control of, or under common control with, the Holder, is subject to any Disqualification Event, except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Act and disclosed in writing in reasonable detail to the Company. The Holder represents that the Holder has exercised reasonable care to determine the accuracy of the representation made by the Holder in this paragraph, and agrees to notify the Company if the Holder becomes aware of any fact that makes the representation given by the Holder hereunder inaccurate.

d. **Foreign Investors.** If the Holder is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended (the "Code")), the Holder hereby represents that he, she or it has satisfied itself as to the full observance of the laws of the Holder's jurisdiction in connection with any invitation to subscribe for the Securities or any use of this Note, including (A) the legal requirements within the Holder's jurisdiction for the purchase of the Securities, (B) any foreign exchange restrictions applicable to such purchase, (C) any governmental or other consents that may need to be obtained, and (D) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Securities. The Holder's subscription, payment for and continued beneficial ownership of the Securities will not violate any applicable securities or other laws of the Holder's jurisdiction.

e. **Forward-Looking Statements.** With respect to any forecasts, projections of results and other forward-looking statements and information provided to the Holder, the Holder acknowledges that such statements were prepared based upon assumptions deemed reasonable by the Company at the time of preparation. There is no assurance that such statements will prove accurate, and the Company has no obligation to update such statements.

#### 4. EVENTS OF DEFAULTS

a. If there shall be any Event of Default (as defined below) hereunder, at the option and upon the declaration of the Majority Holders and upon written notice to the Company (which election and notice shall not be required in the case of an Event of Default under subsection (ii) or (iii) below), this Note shall accelerate and all principal and unpaid accrued interest shall become due and payable. The occurrence of any one or more of the following shall constitute an "Event of Default":

i. The Company fails to pay timely any of the principal amount due under this Note on the date the same becomes due and payable or any unpaid accrued interest or other amounts due under this Note on the date the same becomes due and payable;
ii. The Company files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; or
iii. An involuntary petition is filed against the Company (unless such petition is dismissed or discharged within 60 days under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee or assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of the Company).

b. In the event of any Event of Default hereunder, the Company shall pay all reasonable attorneys' fees and court costs incurred by the Holder in enforcing and collecting this Note.

#### 5. MISCELLANEOUS PROVISIONS

a. **Waivers.** The Company hereby waives demand, notice, presentment, protest and notice of dishonor.
b. **Further Assurances.** The Holder agrees and covenants that at any time and from time to time the Holder will promptly execute and deliver to the Company such further instruments and documents and take such further action as the Company may reasonably require in order to carry out the full intent and purpose of this Note and to comply with state or federal securities laws or other regulatory approvals.
c. **Transfers of Notes.** This Note may be transferred only upon its surrender to the Company for registration of transfer, duly endorsed, or accompanied by a duly executed written instrument of transfer in form satisfactory to the Company. Thereupon, this Note shall be reissued to, and registered in the name of, the transferee, or a new Note for like principal amount and interest shall be issued to, and registered in the name of, the transferee. Interest and principal shall be paid solely to the registered holder of this Note. Such payment shall constitute full discharge of the Company's obligation to pay such interest and principal.
d. **Market Standoff.** To the extent requested by the Company or an underwriter of securities of the Company, each Holder and any permitted transferee thereof shall not, without the prior

written consent of the managing underwriters in the IPO (as hereafter defined), offer, sell, make any short sale of, grant or sell any option for the purchase of, lend, pledge, otherwise transfer or dispose of (directly or indirectly), enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership (whether any such transaction is described above or is to be settled by delivery of Securities or other securities, in cash, or otherwise), any Securities or other shares of stock of the Company then owned by such Holder or any transferee thereof, or enter into an agreement to do any of the foregoing, for up to 180 days following the effective date of the registration statement of the initial public offering of the Company (the '**IPO**') filed under the Securities Act. For purposes of this paragraph, '**Company**' includes any wholly owned subsidiary of the Company into which the Company merges or consolidates. The Company may place restrictive legends on the certificates representing the shares subject to this paragraph and may impose stop transfer instructions with respect to the Securities and such other shares of stock of each Holder and any transferee thereof (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. Each Holder and any transferee thereof shall enter into any agreement reasonably required by the underwriters to the IPO to implement the foregoing within any reasonable timeframe so requested. The underwriters for any IPO are intended third party beneficiaries of this paragraph and shall have the right, power and authority to enforce the provisions of this paragraph as though they were parties hereto.

- e. **Amendment and Waiver.** Any term of this Note may be amended or waived with the written consent of the Company and the Holder. In addition, any term of this Note may be amended or waived with the written consent of the Company and the Majority Holders. Upon the effectuation of such waiver or amendment with the consent of the Majority Holders in conformance with this paragraph, such amendment or waiver shall be effective as to, and binding against the holders of, all of the Notes, and the Company shall promptly give written notice thereof to the Holder if the Holder has not previously consented to such amendment or waiver in writing; provided that the failure to give such notice shall not affect the validity of such amendment or waiver.
- f. **Governing Law.** This Note shall be governed by and construed under the laws of the State of Delaware, as applied to agreements among Delaware residents, made and to be performed entirely within the State of Delaware, without giving effect to conflicts of laws principles.
- g. **Binding Agreement.** The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Note, expressed or implied, is intended to confer upon any third party any rights, remedies, obligations or liabilities under or by reason of this Note, except as expressly provided in this Note.
- h. **Counterparts; Manner of Delivery.** This Note may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.
- i. **Titles and Subtitles.** The titles and subtitles used in this Note are used for convenience only and are not to be considered in construing or interpreting this Note.
- j. **Notices.** All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (iii) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications to a party shall be sent to the party's address in their Wefunder account at such other address(es) as such party may designate by 10 days' advance written notice to the other party hereto.
- k. **Expenses.** The Company and the Holder shall each bear its respective expenses and legal fees incurred with respect to the negotiation, execution and delivery of this Note and the transactions contemplated herein.
- l. **Delays or Omissions.** It is agreed that no delay or omission to exercise any right, power or remedy accruing to the Holder, upon any breach or default of the Company under this Note shall impair any such right, power or remedy, nor shall it be construed to be a waiver of any such breach or default, or any acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or character by the Holder of any breach or default under this Note, or any waiver by the Holder of any provisions or conditions of this Note, must be in writing and shall be effective only to the extent specifically set forth in writing and that all remedies, either under this Note, or by law or otherwise afforded to the Holder, shall be cumulative and not alternative. This Note shall be void and of no force or effect in the event that the Holder fails to remit the full principal amount to the Company within five calendar days of the date of this Note.
- m. **Entire Agreement.** This Note constitutes the full and entire understanding and agreement between the parties with regard to the subjects hereof, and no party shall be liable or bound

to any other party in any manner by any representations, warranties, covenants and agreements except as specifically set forth herein.

- n. **Exculpation among Holders.** The Holder acknowledges that the Holder is not relying on any person, firm or corporation, other than the Company and its officers and Board members, in making its investment or decision to invest in the Company.
- o. **Senior Indebtedness.** The indebtedness evidenced by this Note is subordinated in right of payment to the prior payment in full of any Senior Indebtedness in existence on the date of this Note or hereafter incurred. '**Senior Indebtedness**' shall mean, unless expressly subordinated to or made on a parity with the amounts due under this Note, all amounts due in connection with (i) indebtedness of the Company to banks or other lending institutions regularly engaged in the business of lending money (excluding venture capital, investment banking or similar institutions and their affiliates, which sometimes engage in lending activities but which are primarily engaged in investments in equity securities), and (ii) any such indebtedness or any debentures, notes or other evidence of indebtedness issued in exchange for such Senior Indebtedness, or any indebtedness arising from the satisfaction of such Senior Indebtedness by a guarantor.
- p. **Broker's Fees.** Each party hereto represents and warrants that no agent, broker, investment banker, person or firm acting on behalf of or under the authority of such party hereto is or will be entitled to any broker's or finder's fee or any other commission directly or indirectly in connection with the transactions contemplated herein. Each party hereto further agrees to indemnify each other party for any claims, losses or expenses incurred by such other party as a result of the representation in this subsection being untrue.
- q. **California Corporate Securities Law.** THE SALE OF THE SECURITIES WHICH ARE THE SUBJECT OF THIS NOTE HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR TO SUCH QUALIFICATION OR IN THE ABSENCE OF AN EXEMPTION FROM SUCH QUALIFICATION IS UNLAWFUL. PRIOR TO ACCEPTANCE OF SUCH CONSIDERATION BY THE COMPANY, THE RIGHTS OF ALL PARTIES TO THIS NOTE ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED OR AN EXEMPTION FROM SUCH QUALIFICATION BEING AVAILABLE.

[Signature pages follow]

IN WITNESS WHEREOF, the parties have executed this agreement as of [EFFECTIVE DATE].

Investment Amount: [INVESTMENT AMOUNT]

**COMPANY:**

Contractor Plus, Inc.

Name:

Title:

**Read and Approved (For IRA Use Only):**

**SUBSCRIBER**

[INVESTOR NAME]

By:

By: *Investor*

Name: [INVESTOR NAME]

Title:

The Subscriber is an "accredited investor" as that term is defined in Regulation D promulgated by the Securities and Exchange Commission under the Securities Act.

Please indicate Yes or No by checking the appropriate box:

☐ Accredited

☐ Not Accredited

SIGNATURE PAGE

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

# **Contractor Plus II (THE "SPV"),**
a series of **Wefunder SPV, LLC**, a Delaware limited
liability company (the "LLC")

# Subscription Agreement

**[INVESTMENT AMOUNT]**

**[INVESTMENT DATE]**

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

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

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

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

# Subscription Agreement

# SCOPE OF AGREEMENT AND INVESTOR ELIGIBILITY
REPRESENTATIONS

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

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

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

INVESTOR'S REPRESENTATIONS AND COVENANTS

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

# 6. Key Risk Factors

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

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

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

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

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

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

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

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

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

# 7. Compliance With Anti-Money Laundering Laws.

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

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

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

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

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

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

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

# 8. Regulatory Provisions

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

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

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

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

# 9. Miscellaneous Provisions

# 9.1. Indemnification

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

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

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

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

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

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

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

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

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

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

# 9.5. Confidentiality

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

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

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

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

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

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

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

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

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

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

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

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

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

SPV

Contractor Plus II, as series of Wefunder SPV, LLC
By: Wefunder Admin, LLC, its Manager

By: Founder Signature

Date:

Name: Nicholas Tommarello

Title: Chief Executive Officer

Investor

[INVESTOR NAME]

By: Investor Signature

Date:

CONTACT INFORMATION:

Name: [INVESTOR NAME]

Mailing Address:

City:

Country:

E-mail:

# TERMS APPENDIX FOR THE PURCHASE OF
Contractor Plus, Inc. SECURITIES BY Contractor Plus II,
A SERIES OF WEFUNDER SPV, LLC, A DELAWARE
LIMITED LIABILITY COMPANY

**Type of Security:** Convertible Note

**Terms** $4.6M valuation cap and 20% discount

To view a copy of the contract, please see **Appendix B, Investor Contracts** of
the Form C. The latest Form C or C/A filing be found here:
https://www.sec.gov/cgi-bin/srch-edgar?text=%28FORM-
TYPE%3DC%2FA+or+FORM-
TYPE%3DC%29+and+CIK%3D0001862675&first=2016

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

THIS NOTE AND THE SECURITIES ISSUABLE UPON THE CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATES IN THE UNITED STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

# CONVERTIBLE PROMISSORY NOTE

Note Series: _______________
Date of Note: [EFFECTIVE DATE]
Principle Amount of Note: [INVESTMENT AMOUNT]

For value received Contractor Plus, Inc., a corporation (the "Company"), promises to pay to the undersigned holder or such party's assigns (the "Holder") the principal amount set forth above with simple interest on the outstanding principal amount at the rate of 5.0% per annum. Interest shall commence with the date hereof and shall continue on the outstanding principal amount until paid in full or converted. Interest shall be computed on the basis of a year of 365 days for the actual number of days elapsed. All unpaid interest and principal shall be due and payable upon request of the Majority Holders on or after Mar 1st, 2025 (the "Maturity Date").

# 1. BASIC TERMS.

a. Series of Notes. This convertible promissory note (the "Note") is issued as part of a series of notes designated by the Note Series above (collectively, the "Notes") and issued in a series of multiple closings to certain persons and entities (collectively, the "Holders"). The Company shall maintain a ledger of all Holders.
b. Payments. All payments of interest and principal shall be in lawful money of the United States of America and shall be made pro rata among all Holders. All payments shall be applied first to accrued interest, and thereafter to principal.
c. Prepayment. The Company may not prepay this Note prior to the Maturity Date without the consent of the Holders of a majority of the outstanding principal amount of the Notes (the "Majority Holders").

# 2. CONVERSION AND REPAYMENT.

a. Conversion upon a Qualified Financing. In the event that the Company issues and sells shares of its equity securities ("Equity Securities") to investors (the "Investors") while this Note remains outstanding in an equity financing with total proceeds to the Company of not less than $1000000 (excluding the conversion of the Notes or other convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)) (a "Qualified Financing"), then the outstanding principal amount of this Note and any unpaid accrued interest shall automatically convert in whole without any further action by the Holder into Equity Securities sold in the Qualified Financing at a conversion price equal to the lesser of (i) the price paid per share for Equity Securities by the Investors in the Qualified Financing multiplied by 0.8, and (ii) the quotient resulting from dividing $3800000.0 by the number of outstanding shares of common stock of the Company immediately prior to the Qualified Financing (assuming conversion of all securities convertible into common stock and exercise of all outstanding options and warrants, but excluding the shares of equity securities of the Company issuable upon the conversion of the Notes or other convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)). The issuance of Equity Securities pursuant to the conversion of this Note shall be upon and subject to the same terms and conditions applicable to Equity Securities sold in the Qualified Financing. Notwithstanding this paragraph, if the conversion price of the Notes as determined pursuant to this paragraph (the "Conversion Price") is less than the price per share at which Equity Securities are issued in the Qualified Financing, the Company may, solely at its option, elect to convert this Note into shares of a newly created series of preferred stock having the identical rights, privileges, preferences and restrictions as Equity Securities issued in the Qualified Financing, and otherwise on the same terms and conditions, other than with respect to (if applicable): (i) the per share liquidation preference and the conversion price for purposes of price-based anti-dilution protection, which will equal the Conversion Price; and (ii) the per share dividend, which will be the same percentage of the Conversion Price as applied to determine the per share dividends of the Investors in the Qualified Financing relative to the purchase price paid by the Investors.
b. Change of Control. If the Company consummates a Change of Control (as defined below) while this Note remains outstanding, the Company shall repay the Holder in cash in an amount equal to (i) the outstanding principal amount of this Note plus any unpaid accrued interest on the original principal, plus (ii) a repayment premium equal to 50% of the outstanding principal amount of this Note; provided, however, that upon the written election of the Holder made not less than five days prior to the Change of Control, the Company shall convert the outstanding principal balance of this Note and any unpaid accrued interest into shares of the Company's Common Stock at a conversion price equal to the quotient resulting from dividing $[VALUATION CAP] by the number of outstanding shares of Common Stock of

the Company immediately prior to the Change of Control (assuming conversion of all securities convertible into Common Stock and exercise of all outstanding options and warrants, but excluding the shares of equity securities of the Company issuable upon the conversion of Notes or other convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)). For purposes of this Note, a "Change of Control" means (i) a consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, other than any such consolidation, merger or reorganization in which the shares of capital stock of the Company immediately prior to such consolidation, merger or reorganization continue to represent a majority of the voting power of the surviving entity immediately after such consolidation, merger or reorganization; (ii) any transaction or series of related transactions to which the Company is a party in which in excess of 50% of the Company's voting power is transferred; or (iii) the sale or transfer of all or substantially all of the Company's assets, or the exclusive license of all or substantially all of the Company's material intellectual property; provided that a Change of Control shall not include any transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by the Company or any successor, indebtedness of the Company is cancelled or converted or a combination thereof. The Company shall give the Holder notice of a Change of Control not less than 10 days prior to the anticipated date of consummation of the Change of Control. Any repayment pursuant to this paragraph in connection with a Change of Control shall be subject to any required tax withholdings, and may be made by the Company (or any party to such Change of Control or its agent) following the Change of Control in connection with payment procedures established in connection with such Change of Control.

c. **Procedure for Conversion.** In connection with any conversion of this Note into capital stock, the Holder shall surrender this Note to the Company and deliver to the Company any documentation reasonably required by the Company (including, in the case of a Qualified Financing, all financing documents executed by the Investors in connection with such Qualified Financing). The Company shall not be required to issue or deliver the capital stock into which this Note may convert until the Holder has surrendered this Note to the Company and delivered to the Company any such documentation. Upon the conversion of this Note into capital stock pursuant to the terms hereof, in lieu of any fractional shares to which the Holder would otherwise be entitled, the Company shall pay the Holder cash equal to such fraction multiplied by the price at which this Note converts.

d. **Interest Accrual.** If a Change of Control or Qualified Financing is consummated, all interest on this Note shall be deemed to have stopped accruing as of a date selected by the Company that is up to 10 days prior to the signing of the definitive agreement for the Change of Control or Qualified Financing.

### 3. REPRESENTATIONS AND WARRANTIES

#### a. Representations and Warranties of the Company

i. **Organization, Good Standing and Qualification.** The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. The Company has the requisite corporate power to own and operate its properties and assets and to carry on its business as now conducted and as proposed to be conducted. The Company is duly qualified and is authorized to do business and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes such qualification necessary, except for those jurisdictions in which failure to do so would not have a material adverse effect on the Company or its business (a "Material Adverse Effect").

ii. **Corporate Power.** The Company has all requisite corporate power to issue this Note and to carry out and perform its obligations under this Note. The Company's Board of Directors (the "Board") has approved the issuance of this Note based upon a reasonable belief that the issuance of this Note is appropriate for the Company after reasonable inquiry concerning the Company's financing objectives and financial situation.

iii. **Authorization.** All corporate action on the part of the Company, the Board and the Company's stockholders necessary for the issuance and delivery of this Note has been taken. This Note constitutes a valid and binding obligation of the Company enforceable in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency, the relief of debtors and, with respect to rights to indemnity, subject to federal and state securities laws. Any securities issued upon conversion of this Note (the "Conversion Securities"), when issued in compliance with the provisions of this Note, will be validly issued, fully paid, nonassessable, free of any liens or encumbrances and issued in compliance with all applicable federal and securities laws.

iv. **Governmental Consents.** All consents, approvals, orders or authorizations of, or registrations, qualifications, designations, declarations or filings with, any governmental authority required on the part of the Company in connection with issuance of this Note has been obtained.

v. **Compliance with Laws.** To its knowledge, the Company is not in violation of any applicable statute, rule, regulation, order or restriction of any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of its business or the ownership of its properties, which violation of which would have a Material Adverse Effect.

vi. Compliance with Other Instruments. The Company is not in violation or default of any term of its certificate of incorporation or bylaws, or of any provision of any mortgage, indenture or contract to which it is a party and by which it is bound or of any judgment, decree, order or writ, other than such violation(s) that would not have a Material Adverse Effect. The execution, delivery and performance of this Note will not result in any such violation or be in conflict with, or constitute, with or without the passage of time and giving of notice, either a default under any such provision, instrument, judgment, decree, order or writ or an event that results in the creation of any lien, charge or encumbrance upon any assets of the Company or the suspension, revocation, impairment, forfeiture or nonrenewal of any material permit, license, authorization or approval applicable to the Company, its business or operations or any of its assets or properties. Without limiting the foregoing, the Company has obtained all waivers reasonably necessary with respect to any preemptive rights, rights of first refusal or similar rights, including any notice or offering periods provided for as part of any such rights, in order for the Company to consummate the transactions contemplated hereunder without any third party obtaining any rights to cause the Company to offer or issue any securities of the Company as a result of the consummation of the transactions contemplated hereunder.

vii. No "Bad Actor" Disqualification. The Company has exercised reasonable care to determine whether any Company Covered Person (as defined below) is subject to any of the "bad actor" disqualifications described in Rule 506(d)(1)(i) through (viii), as modified by Rules 506(d)(2) and (d)(3), under the Act ("Disqualification Events"). To the Company's knowledge, no Company Covered Person is subject to a Disqualification Event. The Company has complied, to the extent required, with any disclosure obligations under Rule 506(e) under the Act. For purposes of this Note, "Company Covered Persons" are those persons specified in Rule 506(d)(1) under the Act; provided, however, that Company Covered Persons do not include (a) any Holder, or (b) any person or entity that is deemed to be an affiliated issuer of the Company solely as a result of the relationship between the Company and any Holder.

viii. Offering. Assuming the accuracy of the representations and warranties of the Holder contained in subsection (b) below, the offer, issue and sale of this Note and the Conversion Securities (collectively, the "Securities") are and will be exempt from the registration and prospectus delivery requirements of the Act, and have been registered or qualified (or are exempt from registration and qualification) under the registration, permit or qualification requirements of all applicable state securities laws.

ix. Use of Proceeds. The Company shall use the proceeds of this Note solely for the operations of its business, and not for any personal, family or household purpose.

b. Representations and Warranties of the Holder. The Holder hereby represents and warrants to the Company as of the date hereof as follows:

i. Purchase for Own Account. The Holder is acquiring the Securities solely for the Holder's own account and beneficial interest for investment and not for sale or with a view to distribution of the Securities or any part thereof, has no present intention of selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the same, and does not presently have reason to anticipate a change in such intention.

ii. Information and Sophistication. Without lessening or obviating the representations and warranties of the Company set forth in subsection (a) above, the Holder hereby: (A) acknowledges that the Holder has received all the information the Holder has requested from the Company and the Holder considers necessary or appropriate for deciding whether to acquire the Securities. (B) represents that the Holder has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Securities and to obtain any additional information necessary to verify the accuracy of the information given the Holder and (C) further represents that the Holder has such knowledge and experience in financial and business matters that the Holder is capable of evaluating the merits and risk of this investment.

iii. Ability to Bear Economic Risk. The Holder acknowledges that investment in the Securities involves a high degree of risk, and represents that the Holder is able, without materially impairing the Holder's financial condition, to hold the Securities for an indefinite period of time and to suffer a complete loss of the Holder's investment.

iv. Further Limitations on Disposition. Without in any way limiting the representations set forth above, the Holder further agrees not to make any disposition of all or any portion of the Securities unless and until:

1. There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or
2. The Holder shall have notified the Company of the proposed disposition and furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and if reasonably requested by the Company, the Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration under the Act or any applicable state securities laws; provided that no such opinion shall be required for dispositions in compliance with Rule 144

under the Act, except in unusual circumstances.

3. Notwithstanding the provisions of paragraphs (1) and (2) above, no such registration statement or opinion of counsel shall be necessary for a transfer by the Holder to a partner (or retired partner) or member (or retired member) of the Holder in accordance with partnership or limited liability company interests, or transfers by gift, will or intestate succession to any spouse or lineal descendants or ancestors, if all transferees agree in writing to be subject to the terms hereof to the same extent as if they were the Holders hereunder.

c. **No "Bad Actor" Disqualification.** The Holder represents and warrants that neither (A) the Holder nor (B) any entity that controls the Holder or is under the control of, or under common control with, the Holder, is subject to any Disqualification Event, except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Act and disclosed in writing in reasonable detail to the Company. The Holder represents that the Holder has exercised reasonable care to determine the accuracy of the representation made by the Holder in this paragraph, and agrees to notify the Company if the Holder becomes aware of any fact that makes the representation given by the Holder hereunder inaccurate.

d. **Foreign Investors.** If the Holder is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended (the "Code")), the Holder hereby represents that he, she or it has satisfied itself as to the full observance of the laws of the Holder's jurisdiction in connection with any invitation to subscribe for the Securities or any use of this Note, including (A) the legal requirements within the Holder's jurisdiction for the purchase of the Securities, (B) any foreign exchange restrictions applicable to such purchase, (C) any governmental or other consents that may need to be obtained, and (D) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Securities. The Holder's subscription, payment for and continued beneficial ownership of the Securities will not violate any applicable securities or other laws of the Holder's jurisdiction.

e. **Forward-Looking Statements.** With respect to any forecasts, projections of results and other forward-looking statements and information provided to the Holder, the Holder acknowledges that such statements were prepared based upon assumptions deemed reasonable by the Company at the time of preparation. There is no assurance that such statements will prove accurate, and the Company has no obligation to update such statements.

#### 4. EVENTS OF DEFAULTS

a. If there shall be any Event of Default (as defined below) hereunder, at the option and upon the declaration of the Majority Holders and upon written notice to the Company (which election and notice shall not be required in the case of an Event of Default under subsection (ii) or (iii) below), this Note shall accelerate and all principal and unpaid accrued interest shall become due and payable. The occurrence of any one or more of the following shall constitute an "Event of Default":

i. The Company fails to pay timely any of the principal amount due under this Note on the date the same becomes due and payable or any unpaid accrued interest or other amounts due under this Note on the date the same becomes due and payable;
ii. The Company files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; or
iii. An involuntary petition is filed against the Company (unless such petition is dismissed or discharged within 60 days under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee or assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of the Company).

b. In the event of any Event of Default hereunder, the Company shall pay all reasonable attorneys' fees and court costs incurred by the Holder in enforcing and collecting this Note.

#### 5. MISCELLANEOUS PROVISIONS

a. **Waivers.** The Company hereby waives demand, notice, presentment, protest and notice of dishonor.
b. **Further Assurances.** The Holder agrees and covenants that at any time and from time to time the Holder will promptly execute and deliver to the Company such further instruments and documents and take such further action as the Company may reasonably require in order to carry out the full intent and purpose of this Note and to comply with state or federal securities laws or other regulatory approvals.
c. **Transfers of Notes.** This Note may be transferred only upon its surrender to the Company for registration of transfer, duly endorsed, or accompanied by a duly executed written instrument of transfer in form satisfactory to the Company. Thereupon, this Note shall be reissued to, and registered in the name of, the transferee, or a new Note for like principal amount and interest shall be issued to, and registered in the name of, the transferee. Interest and principal shall be paid solely to the registered holder of this Note. Such payment shall constitute full discharge of the Company's obligation to pay such interest and principal.
d. **Market Standoff.** To the extent requested by the Company or an underwriter of securities of the Company, each Holder and any permitted transferee thereof shall not, without the prior

written consent of the managing underwriters in the IPO (as hereafter defined), offer, sell, make any short sale of, grant or sell any option for the purchase of, lend, pledge, otherwise transfer or dispose of (directly or indirectly), enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership (whether any such transaction is described above or is to be settled by delivery of Securities or other securities, in cash, or otherwise), any Securities or other shares of stock of the Company then owned by such Holder or any transferee thereof, or enter into an agreement to do any of the foregoing, for up to 180 days following the effective date of the registration statement of the initial public offering of the Company (the '**IPO**') filed under the Securities Act. For purposes of this paragraph, '**Company**' includes any wholly owned subsidiary of the Company into which the Company merges or consolidates. The Company may place restrictive legends on the certificates representing the shares subject to this paragraph and may impose stop transfer instructions with respect to the Securities and such other shares of stock of each Holder and any transferee thereof (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. Each Holder and any transferee thereof shall enter into any agreement reasonably required by the underwriters to the IPO to implement the foregoing within any reasonable timeframe so requested. The underwriters for any IPO are intended third party beneficiaries of this paragraph and shall have the right, power and authority to enforce the provisions of this paragraph as though they were parties hereto.

- e. **Amendment and Waiver.** Any term of this Note may be amended or waived with the written consent of the Company and the Holder. In addition, any term of this Note may be amended or waived with the written consent of the Company and the Majority Holders. Upon the effectuation of such waiver or amendment with the consent of the Majority Holders in conformance with this paragraph, such amendment or waiver shall be effective as to, and binding against the holders of, all of the Notes, and the Company shall promptly give written notice thereof to the Holder if the Holder has not previously consented to such amendment or waiver in writing; provided that the failure to give such notice shall not affect the validity of such amendment or waiver.
- f. **Governing Law.** This Note shall be governed by and construed under the laws of the State of Delaware, as applied to agreements among Delaware residents, made and to be performed entirely within the State of Delaware, without giving effect to conflicts of laws principles.
- g. **Binding Agreement.** The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Note, expressed or implied, is intended to confer upon any third party any rights, remedies, obligations or liabilities under or by reason of this Note, except as expressly provided in this Note.
- h. **Counterparts; Manner of Delivery.** This Note may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.
- i. **Titles and Subtitles.** The titles and subtitles used in this Note are used for convenience only and are not to be considered in construing or interpreting this Note.
- j. **Notices.** All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (iii) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications to a party shall be sent to the party's address in their Wefunder account at such other address(es) as such party may designate by 10 days' advance written notice to the other party hereto.
- k. **Expenses.** The Company and the Holder shall each bear its respective expenses and legal fees incurred with respect to the negotiation, execution and delivery of this Note and the transactions contemplated herein.
- l. **Delays or Omissions.** It is agreed that no delay or omission to exercise any right, power or remedy accruing to the Holder, upon any breach or default of the Company under this Note shall impair any such right, power or remedy, nor shall it be construed to be a waiver of any such breach or default, or any acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or character by the Holder of any breach or default under this Note, or any waiver by the Holder of any provisions or conditions of this Note, must be in writing and shall be effective only to the extent specifically set forth in writing and that all remedies, either under this Note, or by law or otherwise afforded to the Holder, shall be cumulative and not alternative. This Note shall be void and of no force or effect in the event that the Holder fails to remit the full principal amount to the Company within five calendar days of the date of this Note.
- m. **Entire Agreement.** This Note constitutes the full and entire understanding and agreement between the parties with regard to the subjects hereof, and no party shall be liable or bound

to any other party in any manner by any representations, warranties, covenants and agreements except as specifically set forth herein.

- n. **Exculpation among Holders.** The Holder acknowledges that the Holder is not relying on any person, firm or corporation, other than the Company and its officers and Board members, in making its investment or decision to invest in the Company.
- o. **Senior Indebtedness.** The indebtedness evidenced by this Note is subordinated in right of payment to the prior payment in full of any Senior Indebtedness in existence on the date of this Note or hereafter incurred. '**Senior Indebtedness**' shall mean, unless expressly subordinated to or made on a parity with the amounts due under this Note, all amounts due in connection with (i) indebtedness of the Company to banks or other lending institutions regularly engaged in the business of lending money (excluding venture capital, investment banking or similar institutions and their affiliates, which sometimes engage in lending activities but which are primarily engaged in investments in equity securities), and (ii) any such indebtedness or any debentures, notes or other evidence of indebtedness issued in exchange for such Senior Indebtedness, or any indebtedness arising from the satisfaction of such Senior Indebtedness by a guarantor.
- p. **Broker's Fees.** Each party hereto represents and warrants that no agent, broker, investment banker, person or firm acting on behalf of or under the authority of such party hereto is or will be entitled to any broker's or finder's fee or any other commission directly or indirectly in connection with the transactions contemplated herein. Each party hereto further agrees to indemnify each other party for any claims, losses or expenses incurred by such other party as a result of the representation in this subsection being untrue.
- q. **California Corporate Securities Law.** THE SALE OF THE SECURITIES WHICH ARE THE SUBJECT OF THIS NOTE HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR TO SUCH QUALIFICATION OR IN THE ABSENCE OF AN EXEMPTION FROM SUCH QUALIFICATION IS UNLAWFUL. PRIOR TO ACCEPTANCE OF SUCH CONSIDERATION BY THE COMPANY, THE RIGHTS OF ALL PARTIES TO THIS NOTE ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED OR AN EXEMPTION FROM SUCH QUALIFICATION BEING AVAILABLE.

[Signature pages follow]

IN WITNESS WHEREOF, the parties have executed this agreement as of [EFFECTIVE DATE].

Investment Amount: [INVESTMENT AMOUNT]

**COMPANY:**

Contractor Plus, Inc.

Name:

Title:

**Read and Approved (For IRA Use Only):**

**SUBSCRIBER**

[INVESTOR NAME]

By:

By: *Investor*

Name: [INVESTOR NAME]

Title:

The Subscriber is an "accredited investor" as that term is defined in Regulation D promulgated by the Securities and Exchange Commission under the Securities Act.

Please indicate Yes or No by checking the appropriate box:

☐ Accredited

☐ Not Accredited

SIGNATURE PAGE

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

# Contractor Plus II EB (THE "SPV"),

a series of Wefunder SPV, LLC, a Delaware limited

liability company (the "LLC")

# Subscription Agreement

[INVESTMENT

AMOUNT]

[INVESTMENT DATE]

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

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

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

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

# Subscription Agreement

# SCOPE OF AGREEMENT AND INVESTOR ELIGIBILITY
REPRESENTATIONS

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

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

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

INVESTOR'S REPRESENTATIONS AND COVENANTS

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

# 6. Key Risk Factors

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

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

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

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

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

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

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

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

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

# 7. Compliance With Anti-Money Laundering Laws.

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

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

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

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

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

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

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

# 8. Regulatory Provisions

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

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

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

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

# 9. Miscellaneous Provisions

# 9.1. Indemnification

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

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

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

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

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

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

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

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

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

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

# 9.5. Confidentiality

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

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

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

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

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

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

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

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

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

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

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

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

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

SPV

Contractor Plus II EB, as series of Wefunder SPV, LLC
By: Wefunder Admin, LLC, its Manager

By: Founder Signature

Date:

Name: Nicholas Tommarello

Title: Chief Executive Officer

Investor

[INVESTOR NAME]

By: Investor Signature

Date:

CONTACT INFORMATION:

Name: [INVESTOR NAME]

Mailing Address:

City:

Country:

E-mail:

# TERMS APPENDIX FOR THE PURCHASE OF
Contractor Plus, Inc. SECURITIES BY Contractor Plus II
EB. A SERIES OF WEFUNDER SPV, LLC: A
DELAWARE LIMITED LIABILITY COMPANY

Type of Security: Convertible Note

Terms $3.8M valuation cap and 20% discount

To view a copy of the contract, please see Appendix B, Investor Contracts of
the Form C. The latest Form C or C/A filing be found here:
https://www.sec.gov/cgi-bin/srch-edgar?text=%28FORM-
TYPE%3DC%2FA+or+FORM-
TYPE%3DC%29+and+CIK%3D0001862675&first=2016

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

# Contractor Plus, Inc.

## **Audited Financial Statements**

For the year ended December 31, 2020

# Table of Contents

| Independent Auditor's Report | 1 |
| --- | --- |
| Audited Financial Statements | 5 |
| Statement of Financial Position | 5 |
| Statement of Profit & Loss | 6 |
| Statement of Cash Flows | 7 |
| Statement of Changes in Equity | 8 |
| Notes to the Financial Statements | 9 |

Drenchko Stephanie, CPA

Page | 1

# Independent Auditors' Report

## To the Board of Directors and Shareholders

### Report on the Financial Statements

#### Opinion

We have audited the accompanying balance sheet of Contractor Plus, Inc 'The Company', as of December 31, 2020, and the related statements of profit and loss, statement of cash flows, statement of changes in equity, and the notes to the financial statements for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.

In our opinion, the financial statements referred to above, present fairly, in all material respects, the financial position of The Company as of December 31, 2020, and the results of its operations for the year then ended in conformity with accounting principles generally accepted in the United States of America.

#### Basis of Opinion

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

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

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

In preparing the financial statements, management is responsible for assessing the Organization's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations or has no realistic alternative but to do so.

Drenchko Stephanie, CPA

Page | 2

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

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with the auditing standards generally accepted in United States of America will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:

- Identified and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. 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.
- Obtained 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.
- Evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
- Concluded on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
- Evaluated the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtained sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Drenchko Stephanie, CPA

Page | 3

We also provide the directors with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with the directors, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

*Drenchko Stephanie* Nov 17, 2022*

**Drenchko Stephanie, CPA**

Partner,

**GDS International Co**

License #: 098780

Contact: +1 (949) 354-4109

9 Knollwood DrBallston Lake, NY 12019

**Independent Auditor**

Drenchko Stephanie, CPA

Page | 4

# Contractor Plus, Inc.

## Balance Sheet

As at December 31, 2020

In US Dollars

|  | Notes | Amount |
| --- | --- | --- |
| Assets |  |  |
| Non-current Assets |  |  |
| Property, plant, and equipment |  | - |
| Total Non-current assets |  | - |
| Current Assets |  |  |
| Cash and Bank Balances | 7 | 558 |
| Total Current assets |  | 558 |
| Total Assets |  | 558 |
| Liabilities and Equity |  |  |
| Long-term Liabilities |  |  |
| Director Loan |  | 7,904 |
| Total Long-term liabilities |  | 7,904 |
| Current Liabilities |  |  |
| Deferred Revenue |  | 99 |
| Provision for Taxation |  | 450 |
| Total Current liabilities |  | 549 |
| Total Liabilities |  | 8,453 |
| Equity |  |  |
| Capital |  | 50 |
| Retained Earnings |  | (7,945) |
| Total Equity |  | (7,895) |
| Total Liabilities and Owner's Equity |  | 558 |

*The annexed notes 01 to 14 form an integral part of these financial statements.*

Accounts Manager

Chief Executive

# Contractor Plus, Inc.

## Income Statement

For the year ended December 31, 2020

In US Dollars

|  | Notes | Amount |
| --- | --- | --- |
| Total Revenue | 8 | 340 |
| Less: Cost of Sales | 9 | - |
| Gross Profit |  | 340 |
| Operating Expenses |  |  |
| General & Administrative Expenses | 10 | 6,181 |
| Selling & Marketing Expenses | 11 | 2,104 |
| Total Expenses |  | (8,285) |
| Operating Profit / (Loss) |  | (7,945) |
| Other Incomes | 12 | - |
| Net Profit / (Loss) for the year |  | (7,945) |

*The annexed notes 01 to 14 form an integral part of these financial statements.*

**Accounts Manager**
Muhammad Arsalan

**Chief Executive**
Justin Smith

# Contractor Plus, Inc.

## Statement of Cash Flows

For the year ended December 31, 2020

In US Dollars

|  | Notes | Amount |
| --- | --- | --- |
| Cashflow from Operating Activities |  |  |
| Profit / (Loss) for the period |  | (7,945) |
| Adjustments for: |  |  |
| Deferred Revenue |  | 99 |
| Provision for Taxation |  | 450 |
| Cash used in Operating Activities |  | (7,396) |
| Cashflow from Investing Activities |  |  |
| Purchase of Property, plant & Equipment |  | - |
| Cash used in Investing Activities |  | - |
| Cashflow from Financing Activities |  |  |
| Proceeds from Directors' Loan |  | 7,904 |
| Funds contributed by Members |  | 50 |
| Cash generated from Financing Activities |  | 7,954 |
| Net Cash generated during the year |  | 558 |
| Cash & Cash equivalents at the beginning of the year |  | - |
| Cash & Cash equivalents at the end of the year |  | 558 |

*The annexed notes 01 to 14 form an integral part of these financial statements.*

**Accounts Manager**
Muhammad Arsalan

**Chief Executive**
Justin Smith

# Contractor Plus, Inc.

## Statement of Changes in Equity

As at December 31, 2020

PARTICULARS

|  | Capital | Retained Earnings | Total |
| --- | --- | --- | --- |
|  | USD |  |  |
| Balance as at February 01, 2020 | - | - | - |
| Add: Owner's Investment | 50 | - | 50 |
| Profit / (Loss) for the period | - | (7,945) | (7,945) |
| Balance as at December 31, 2020 | 50 | (7,945) | (7,895) |

*The annexed notes 01 to 14 form an integral part of these financial statements.*

**Accounts Manager**

Muhammad Arsalan

**Chief Executive**

Justin Smith

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2020

In US Dollars

These notes form an integral part of the financial statements.

The financial statements were authorized for issue by the Board of Directors on [date]

### Note

#### 1 LEGAL STATUS AND NATURE OF BUSINESS

1.1 Contractor Plus, Inc. was incorporated in the State of Delaware on February 1, 2020. Contractor Plus is headquartered in Orlando, Florida. Contractor Plus is a mobile vertical SaaS company comprised of two officers, Justin Smith, CEO and Roshan Sethia, CTO. Contractor Plus is a mobile application for field service contractors. It does estimating, invoicing, post-inspections, payment facilitation, etc.

#### 2 STATEMENT OF COMPLIANCE

2.1 The accompanying Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America ('US GAAP').

#### 3 BASIS OF MEASUREMENT

These financial statement have been prepared under the historical cost convention. In these financial statement, except for the amounts reflected in the cash flow statement, all transactions have been accounted for on accrual basis.

#### 4 JUDGMENT, ESTIMATES AND ASSUMPTIONS

The preparation of financial statements is in conformity with approved accounting standards which requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and related assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. The estimates and related assumptions are reviewed on an ongoing basis. Accounting estimates are revised in the period in which such revisions are made and in any future periods affected.

Judgment made by management in the application of approved standards that have significant effect on the financial statements and estimates with a risk of material adjustment in subsequent year are as follows:

##### 4.1 Provisions

Provisions are based on best estimate of the expenditure required to settle the present obligation at the reporting date, that is, the amount that the Company would rationally pay to settle the obligation at the reporting date or to transfer it to a third party.

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2020

In US Dollars

### 4.2 Impairment

The carrying amounts of the Company's assets are reviewed at each balance sheet date to determine whether there is any indication of impairment loss. If any such indication exists, recoverable amount is estimated in order to determine the extent of the impairment loss, if any. Impairment loss is recorded on judgmental basis, for which provision may differ in the future years based on the actual expense.

### 5 FUNCTIONAL AND PRESENTATION CURRENCY

These financial statement are prepared in United States Dollars which is the Business' functional currency.

### 6 SIGNIFICANT ACCOUNTING POLICIES

The significant accounting policies adopted in preparation of these financial statements are set out below. These policies have been consistently applied to all years prescribed, unless otherwise stated.

#### 6.1 Cash and cash equivalents

Cash and cash equivalents are carried in the balance sheet at cost. For the purpose of cash flow statement, cash and cash equivalents comprise cash in hand and cash with banks in current and saving accounts.

#### 6.2 Property and equipment

Property and equipment are initially recognized at acquisition cost including any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the management. Subsequently, property and equipment are stated at cost less accumulated depreciation and any identified impairment losses. Subsequent costs are included in the asset's carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the companies and the cost of the item can be measured reliably.

All other repairs and maintenance costs are charged to income statement during the year in which they are incurred.

#### 6.3 Subsequent Events

Management has evaluated subsequent events for recognition and disclosure in the financial statements through December 31, 2020, which is the date the financial statements were available to be issued. Through December 31, 2020, no subsequent events required recognition or disclosure in the financial statements.

#### 6.4 Taxation

The business has recognized in the financial statements the effects of all tax positions and continually evaluates expiring statutes of limitations, audits, changes in tax law, and new authoritative rulings. The business is not aware of any circumstances or events that make it reasonably possible that unrecognized tax benefits may increase or decrease within the reporting period of the statement of financial position date. Penalties and interest assessed by taxing authorities are included in the provision for income taxes, if applicable. There were no penalties or interest paid during the reporting period.

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2020

In US Dollars

### 6.5 Provisions

A provision is recognized when, and only when, the companies has a present obligation (legal or constructive) as a result of past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate.

### 6.6 Use of estimates

The preparation of financial statements require the certain critical accounting estimates. It also requires the management to exercise its judgment in the process of applying the Company's accounting policies. Estimates and judgments are continually evaluated and are based on historical experience, including expectation of future events that are believed to be reasonable under the circumstances. The areas where various assumptions and estimates are significant to the Company's financial statements or where judgments were exercised in application of accounting policies are below:

- Operating fixed assets - tangible or intangible
- Assessment of provision for contingencies

### Note 7

#### Cash and Bank Balances

|  | Amount |
| --- | --- |
| Cash and Bank Balances | 558 |
| Total | 558 |

### Note 8

#### Revenue

|  | Amount |
| --- | --- |
| Sales | 340 |
| Total | 340 |

### Note 9

#### Cost of Sales

|  | Amount |
| --- | --- |
| Cost of Sales | - |
| Total | - |

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2020

In US Dollars

These notes form an integral part of the financial statements.

### Note 10

#### General & Administrative Expenses

|  | Amount |
| --- | --- |
| IT, Software & Subscriptions | 630 |
| Office Supplies & Expenses | 350 |
| Other Misc. Expenses | 1,075 |
| Salaries & Wages | 3,656 |
| Stripe Fees | 20 |
| Taxes & Licenses | 450 |
| Total | 6,181 |

### Note 11

#### Selling & Marketing Expenses

|  | Amount |
| --- | --- |
| Advertisement & Marketing | 2,104 |
| Total | 2,104 |

### Note 12

#### Other Incomes

|  | Amount |
| --- | --- |
| Discounts, Refunds & Credits | - |
| Total | - |

### Note 13

#### Date of Authorization of Financial Statements

These financial statements were authorized for issue on _______________ by the Board of Directors.

### Note 14

#### General

Figures have been rounded off to the nearest dollar.

**Accounts Manager**

Muhammad Arsalan

**Chief Executive Officer**

Justin Smith

# Contractor Plus, Inc.

## **Audited Financial Statements**

For the year ended December 31, 2021

# Table of Contents

| Independent Auditor's Report | 1 |
| --- | --- |
| Audited Financial Statements | 5 |
| Statement of Financial Position | 5 |
| Statement of Profit & Loss | 6 |
| Statement of Cash Flows | 7 |
| Statement of Changes in Equity | 8 |
| Notes to the Financial Statements | 9 |

Drenchko Stephanie, CPA

Page | 1

# Independent Auditors' Report

## To the Board of Directors and Shareholders

### Report on the Financial Statements

#### Opinion

We have audited the accompanying balance sheet of Contractor Plus, Inc 'The Company', as of December 31, 2021, and the related statements of profit and loss, statement of cash flows, statement of changes in equity, and the notes to the financial statements for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.

In our opinion, the financial statements referred to above, present fairly, in all material respects, the financial position of The Company as of December 31, 2021, and the results of its operations for the year then ended in conformity with accounting principles generally accepted in the United States of America.

#### Basis of Opinion

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

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

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

In preparing the financial statements, management is responsible for assessing the Organization's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations or has no realistic alternative but to do so.

Drenchko Stephanie, CPA

Page | 2

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

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with the auditing standards generally accepted in United States of America will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:

- Identified and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. 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.
- Obtained 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.
- Evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
- Concluded on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
- Evaluated the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtained sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Drenchko Stephanie, CPA

Page | 3

We also provide the directors with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with the directors, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

*Drenchko Stephanie, CPA*

**Drenchko Stephanie, CPA**

Partner,

**GDS International Co**

License #: 098780

Contact: +1 (949) 354-4109

9 Knollwood DrBallston Lake, NY 12019

**Independent Auditor**

Drenchko Stephanie, CPA

Page | 4

# Contractor Plus, Inc.

## Balance Sheet

As at December 31, 2021

In US Dollars

|  | Notes | 2021 | 2020 |
| --- | --- | --- | --- |
| Assets |  |  |  |
| Non-current Assets |  |  |  |
| Refund Claims |  | 128 | - |
| Total Non-current assets |  | 128 | - |
| Current Assets |  |  |  |
| Accounts Receivable |  | 1,271 | - |
| Cash and Bank Balances | 7 | 44,416 | 558 |
| Total Current assets |  | 45,687 | 558 |
| Total Assets |  | 45,815 | 558 |
| Liabilities and Equity |  |  |  |
| Long-term Liabilities |  |  |  |
| Convertible Loan |  | 115,304 | - |
| Director Loan |  | 7,904 | 7,904 |
| Total Long-term liabilities |  | 123,208 | 7,904 |
| Current Liabilities |  |  |  |
| Accrued Expenses |  | 1,024 | - |
| Deferred Revenue |  | 12,121 | 99 |
| Provision for Taxation |  | - | 450 |
| Short-term Loan |  | 2,278 | - |
| Total Current liabilities |  | 15,423 | 549 |
| Total Liabilities |  | 138,631 | 8,453 |
| Equity |  |  |  |
| Capital |  | 53 | 50 |
| Retained Earnings |  | (92,869) | (7,945) |
| Total Equity |  | (92,816) | (7,895) |
| Total Liabilities and Owner's Equity |  | 45,815 | 558 |

*The annexed notes 01 to 14 form an integral part of these financial statements*

Accounts Manager

Chief Executive

# Contractor Plus, Inc.

## Income Statement

For the year ended December 31, 2021

In US Dollars

|  | Notes | 2021 | 2020 |
| --- | --- | --- | --- |
| Total Revenue | 8 | 26,454 | 340 |
| Less: Cost of Sales | 9 | - | - |
| Gross Profit |  | 26,454 | 340 |
| Operating Expenses |  |  |  |
| General & Administrative Expenses | 10 | 79,114 | 6,181 |
| Selling & Marketing Expenses | 11 | 32,991 | 2,104 |
| Total Expenses |  | (112,105) | (8,285) |
| Operating Profit / (Loss) |  | (85,651) | (7,945) |
| Other Income | 12 | 727 | - |
| Net Profit / (Loss) for the year |  | (84,924) | (7,945) |

*The annexed notes 01 to 14 form an integral part of these financial statements.*

**Accounts Manager** Muhammad Arsalan

**Chief Executive** Justin Smith

# Contractor Plus, Inc.

## Statement of Cash Flows

For the year ended December 31, 2021

In US Dollars

|  | Notes | 2021 | 2020 |
| --- | --- | --- | --- |
| Cashflow from Operating Activities |  |  |  |
| Profit / (Loss) for the period |  | (84,924) | (7,945) |
| Adjustments for: |  |  |  |
| Depreciation |  | - | - |
| Total |  | - | - |
| Changes in Working Capital: |  |  |  |
| Accounts Receivable |  | (1,271) | - |
| Accrued Expenses |  | 1,024 | - |
| Deferred Revenue |  | 12,022 | 99 |
| Provision for Taxation |  | (450) | 450 |
| Short-term Loan |  | 2,278 | - |
| Total |  | 13,602 | 549 |
| Cash used in Operating Activities |  | (71,322) | (7,396) |
| Cashflow from Investing Activities |  |  |  |
| Refund Claims |  | (128) | - |
| Cash used in Investing Activities |  | (128) | - |
| Cashflow from Financing Activities |  |  |  |
| Convertible Loan |  | 115,304 | - |
| Director Loan |  | - | 7,904 |
| Capital Investment |  | 3 | 50 |
| Cash generated from Financing Activities |  | 115,307 | 7,954 |
| Net Cash generated during the year |  | 43,858 | 558 |
| Cash & Cash equivalents at the beginning of the year |  | 558 | - |
| Cash & Cash equivalents at the end of the year |  | 44,416 | 558 |

The annexed notes 01 to 14 form an integral part of these financial statements.

**Accounts Manager**
Muhammad Arsalan

**Chief Executive**
Justin Smith

# Contractor Plus, Inc.

## Statement of Changes in Equity

As at December 31, 2021

PARTICULARS

|  | Capital | Retained Earnings | Total |
| --- | --- | --- | --- |
|  | USD |  |  |
| Balance as at February 01, 2020 | - | - | - |
| Add: Owner's Investment | 50 | - | 50 |
| Profit / (Loss) for the period | - | (7,945) | (7,945) |
| Balance as at January 01, 2021 | 50 | (7,945) | (7,895) |
| Add: Owner's Investment | 3 | - | 3 |
| Profit / (Loss) for the period | - | (84,924) | (84,924) |
| Balance as at December 31, 2021 | 53 | (92,869) | (92,816) |

The annexed notes 01 to 14 form an integral part of these financial statements.

Accounts Manager

Muhammad Arsalan

Chief Executive

Justin Smith

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2021

In US Dollars

These notes form an integral part of the financial statements.

The financial statements were authorized for issue by the Board of Directors on [date]

### Note

#### 1 LEGAL STATUS AND NATURE OF BUSINESS

1.1 Contractor Plus, Inc. was incorporated in the State of Delaware on February 1, 2020. Contractor Plus is headquartered in Orlando, Florida. Contractor Plus is a mobile vertical SaaS company comprised of two officers, Justin Smith, CEO and Roshan Sethia, CTO. Contractor Plus is a mobile application for field service contractors. It does estimating, invoicing, post-inspections, payment facilitation, etc.

#### 2 STATEMENT OF COMPLIANCE

2.1 The accompanying Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America ('US GAAP').

#### 3 BASIS OF MEASUREMENT

These financial statement have been prepared under the historical cost convention. In these financial statement, except for the amounts reflected in the cash flow statement, all transactions have been accounted for on accrual basis.

#### 4 JUDGMENT, ESTIMATES AND ASSUMPTIONS

The preparation of financial statements is in conformity with approved accounting standards which requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and related assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. The estimates and related assumptions are reviewed on an ongoing basis. Accounting estimates are revised in the period in which such revisions are made and in any future periods affected.

Judgment made by management in the application of approved standards that have significant effect on the financial statements and estimates with a risk of material adjustment in subsequent year are as follows:

##### 4.1 Depreciation method, rates and useful lives of property, plant and equipment

The management of the Company reassesses useful lives, depreciation method, and rates for each item of property, plant and equipment annual by considering expected pattern of economic benefits that the Company expects to derive from those items.

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2021

In US Dollars

### 4.2 Provisions

Provisions are based on best estimate of the expenditure required to settle the present obligation at the reporting date, that is, the amount that the Company would rationally pay to settle the obligation at the reporting date or to transfer it to a third party.

### 4.3 Impairment

The carrying amounts of the Company's assets are reviewed at each balance sheet date to determine whether there is any indication of impairment loss. If any such indication exists, recoverable amount is estimated in order to determine the extent of the impairment loss, if any. Impairment loss is recorded on judgmental basis, for which provision may differ in the future years based on the actual expense.

### 5 FUNCTIONAL AND PRESENTATION CURRENCY

These financial statement are prepared in United States Dollars which is the Business' functional currency.

### 6 SIGNIFICANT ACCOUNTING POLICIES

The significant accounting policies adopted in preparation of these financial statements are set out below. These policies have been consistently applied to all years prescribed, unless otherwise stated.

#### 6.1 Cash and cash equivalents

Cash and cash equivalents are carried in the balance sheet at cost. For the purpose of cash flow statement, cash and cash equivalents comprise cash in hand and cash with banks in current and saving accounts.

#### 6.2 Property and equipment

Property and equipment are initially recognized at acquisition cost including any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the management. Subsequently, property and equipment are stated at cost less accumulated depreciation and any identified impairment losses. Subsequent costs are included in the asset's carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the companies and the cost of the item can be measured reliably.

All other repairs and maintenance costs are charged to income statement during the year in which they are incurred.

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2021

In US Dollars

### 6.3 Intangible asset

An intangible asset is an identifiable non-monetary asset without physical substance. An intangible asset is recognized if it is probable that the future economic benefits that are attributable to the asset will flow to the companies and that the cost of such asset can also be measured reliably. Cost of the intangible asset includes purchase cost and directly attributable expenses incidental to bring the asset for its intended use.

Costs associated with maintaining computer software are recognized as an expense as and when incurred.

Intangible assets are stated at cost less accumulated amortization and accumulated impairment losses, if any. Amortization is charged over the estimated useful life of the asset on a systematic basis by applying the reducing balance method from the month when such asset is available for use.

### 6.4 Subsequent Events

Management has evaluated subsequent events for recognition and disclosure in the financial statements through December 31, 2021, which is the date the financial statements were available to be issued. Through December 31, 2021, no subsequent events required recognition or disclosure in the financial statements.

### 6.5 Taxation

The business has recognized in the financial statements the effects of all tax positions and continually evaluates expiring statutes of limitations, audits, changes in tax law, and new authoritative rulings. The business is not aware of any circumstances or events that make it reasonably possible that unrecognized tax benefits may increase or decrease within 12 months of the statement of financial position date. Penalties and interest assessed by taxing authorities are included in the provision for income taxes, if applicable. There were no penalties or interest paid during the reporting period.

### 6.6 Provisions

A provision is recognized when, and only when, the companies has a present obligation (legal or constructive) as a result of past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate.

### 6.7 Use of estimates

The preparation of financial statements require the certain critical accounting estimates. It also requires the management to exercise its judgment in the process of applying the Company’s accounting policies. Estimates and judgments are continually evaluated and are based on historical experience, including expectation of future events that are believed to be reasonable under the circumstances. The areas where various assumptions and estimates are significant to the Company’s financial statements or where judgments were exercised in application of accounting policies are below:

- Operating fixed assets - tangible or intangible

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2021

In US Dollars

These notes form an integral part of the financial statements.

### Note 7

#### Cash and Bank Balances

|  | 2021 | 2020 |
| --- | --- | --- |
| Cash and Bank Balances | 44,416 | 558 |
| Total | 44,416 | 558 |

### Note 8

#### Revenue

|  | 2021 | 2020 |
| --- | --- | --- |
| Sales | 26,454 | 340 |
| Total | 26,454 | 340 |

### Note 9

#### Cost of Sales

|  | 2021 | 2020 |
| --- | --- | --- |
| Cost of Sales | - | - |
| Total | - | - |

### Note 10

#### General & Administrative Expenses

|  | 2021 | 2020 |
| --- | --- | --- |
| Finance Costs | 1,777 | - |
| IT, Software & Subscriptions | 1,152 | 630 |
| Legal & Professional Fees | 1,759 | - |
| Office Supplies & Expenses | 540 | 350 |
| Other Misc. Expenses | 3,614 | 1,075 |
| Salaries & Wages | 64,137 | 3,656 |
| Stripe Fees | 3,388 | 20 |
| Taxes & Licenses | - | 450 |
| Travel | 2,745 | - |
| Total | 79,114 | 6,181 |

### Note 11

#### Selling & Marketing Expenses

|  | 2021 | 2020 |
| --- | --- | --- |
| Advertisement & Marketing | 32,991 | 2,104 |
| Total | 32,991 | 2,104 |

### Note 12

#### Other Income

|  | 2021 | 2020 |
| --- | --- | --- |
| Discounts, Credits & Refunds | 727 | - |
| Total | 727 | - |

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2021

In US Dollars

### Note 13

#### Date of Authorization of Financial Statements

These financial statements were authorized for issue on _______________ by the Board of Directors.

### Note 14

#### General

Figures have been rounded off to the nearest dollar.

**Accounts Manager** Muhammad Arsalan

**Chief Executive Officer** Justin Smith

# Contractor Plus, Inc.

## Independent Accountant's Review Report

For the period from January 01, 2022 to April 30, 2022

# Independent Accountant's Review Report

November 17, 2022

## To the Board of Directors and Members

We have reviewed the accompanying balance sheet of Contractor Plus, Inc. as of April 30, 2022, the related statements of profit & loss for the period ended, statement of net assets, and the statements of cash flows for the period then ended.

These financial statements are the responsibility of the Company's management. Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America and for designing, implementing, and maintaining internal control relevant to the preparation and fair presentation of the financial statements.

We conducted our reviews in accordance with standards established by the American Institute of Certified Public Accountants. A review of the financial information consists principally of applying analytical procedures to financial data and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with auditing standards generally accepted in the United States, which will be performed for the full year with the objective of expressing an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.

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

*Drenchko Stephanie Nov 17, 2022*

**Drenchko Stephanie, CPA**

Partner,

**GDS International Co**

License #: 098780

Contact: +1 (949) 354-4109

9 Knollwood DrBallston Lake, NY 12019

**Independent Accountant**

# Contractor Plus, Inc.

## Balance Sheet

As at April 30, 2022

In US Dollars

|  | Notes | Amount |
| --- | --- | --- |
| Assets |  |  |
| Non-current Assets |  |  |
| Property, plant, and equipment |  | - |
| Total Non-current assets |  | - |
| Current Assets |  |  |
| Accounts Receivable |  | 1,748 |
| Cash and Bank Balances | 7 | 20,530 |
| Total Current assets |  | 22,278 |
| Total Assets |  | 22,278 |
| Liabilities and Equity |  |  |
| Long-term Liabilities |  |  |
| Convertible Loan |  | 117,196 |
| Director Loan |  | 7,904 |
| Total Long-term liabilities |  | 125,100 |
| Current Liabilities |  |  |
| Deferred Revenue |  | 15,690 |
| Accrued Expenses |  | 6,639 |
| Total Current liabilities |  | 22,328 |
| Total Liabilities |  | 147,429 |
| Equity |  |  |
| Capital |  | 53 |
| Retained Earnings |  | (125,204) |
| Total Equity |  | (125,151) |
| Total Liabilities and Owner's Equity |  | 22,278 |

The annexed notes 01 to 14 form an integral part of these financial statements.

**Accounts Manager** Muhammad Arsalan

**Chief Executive** Justin Smith

# Contractor Plus, Inc.

## Income Statement

For the period from January 01, 2022 to April 30, 2022

In US Dollars

|  | Notes | Amount |
| --- | --- | --- |
| Total Revenue | 8 | 24,262 |
| Less: Cost of Sales | 9 | - |
| Gross Profit |  | 24,262 |
| Operating Expenses |  |  |
| General & Administrative Expenses | 10 | 54,879 |
| Selling & Marketing Expenses | 11 | 1,728 |
| Total Expenses |  | (56,607) |
| Operating Profit / (Loss) |  | (32,345) |
| Other Incomes | 12 | - |
| Net Profit / (Loss) for the period |  | (32,345) |

*The annexed notes 01 to 14 form an integral part of these financial statements.*

**Accounts Manager** Muhammad Arsalan

**Chief Executive** Justin Smith

# Contractor Plus, Inc.

## Statement of Cash Flows

For the period from January 01, 2022 to April 30, 2022

In US Dollars

|  | Notes | Amount |
| --- | --- | --- |
| Cashflow from Operating Activities |  |  |
| Profit / (Loss) for the period |  | (32,345) |
| Adjustments for: |  |  |
| Accounts Receivable |  | (477) |
| Deferred Revenue |  | 3,569 |
| Short-term Loan |  | (2,267) |
| Accrued Expenses |  | 5,615 |
| Cash used in Operating Activities |  | (25,906) |
| Cashflow from Investing Activities |  |  |
| Refund Claims |  | 128 |
| Cash used in Investing Activities |  | 128 |
| Cashflow from Financing Activities |  |  |
| Proceeds from Convertible Loan |  | 1,892 |
| Funds contributed by Members |  | - |
| Cash generated from Financing Activities |  | 1,892 |
| Net Cash generated during the period | - | 23,886 |
| Cash & Cash equivalents at the beginning of the period |  | 44,416 |
| Cash & Cash equivalents at the end of the period |  | 20,530 |

*The annexed notes 01 to 14 form an integral part of these financial statements.*

Muhammad Arsalan

**Accounts Manager** Muhammad Arsalan

**Chief Executive** Justin Smith

# Contractor Plus, Inc.

## Statement of Changes in Equity

As at April 30, 2022

PARTICULARS

|  | Capital | Retained Earnings | Total |
| --- | --- | --- | --- |
|  | USD |  |  |
| Balance as at January 01, 2022 | 53 | (92,858) | (92,805) |
| Add: Owner's Investment | - | - | - |
| Profit / (Loss) for the period | - | (32,345) | (32,345) |
| Balance as at April 30, 2022 | 53 | (125,204) | (125,151) |

*The annexed notes 01 to 14 form an integral part of these financial statements.*

**Accounts Manager**
Muhammad Arsalan

**Chief Executive**
Justin Smith

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the period from January 01, 2022 to April 30, 2022

In US Dollars

These notes form an integral part of the financial statements.

The financial statements were authorized for issue by the Board of Directors on [date]

### Note

#### 1 LEGAL STATUS AND NATURE OF BUSINESS

1.1 Contractor Plus, Inc. was incorporated in the State of Delaware on February 1, 2020. Contractor Plus is headquartered in Orlando, Florida. Contractor Plus is a mobile vertical SaaS company comprised of two officers, Justin Smith, CEO and Roshan Sethia, CTO. Contractor Plus is a mobile application for field service contractors. It does estimating, invoicing, post-inspections, payment facilitation, etc.

#### 2 STATEMENT OF COMPLIANCE

2.1 The accompanying Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America ('US GAAP').

#### 3 BASIS OF MEASUREMENT

These financial statement have been prepared under the historical cost convention. In these financial statement, except for the amounts reflected in the cash flow statement, all transactions have been accounted for on accrual basis.

#### 4 JUDGMENT, ESTIMATES AND ASSUMPTIONS

The preparation of financial statements is in conformity with approved accounting standards which requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and related assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. The estimates and related assumptions are reviewed on an ongoing basis. Accounting estimates are revised in the period in which such revisions are made and in any future periods affected.

Judgment made by management in the application of approved standards that have significant effect on the financial statements and estimates with a risk of material adjustment in subsequent year are as follows:

##### 4.1 Depreciation method, rates and useful lives of property, plant and equipment

The management of the Company reassesses useful lives, depreciation method, and rates for each item of property, plant and equipment annual by considering expected pattern of economic benefits that the Company expects to derive from those items.

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the period from January 01, 2022 to April 30, 2022

In US Dollars

### 4.2 Provisions

Provisions are based on best estimate of the expenditure required to settle the present obligation at the reporting date, that is, the amount that the Company would rationally pay to settle the obligation at the reporting date or to transfer it to a third party.

### 4.3 Impairment

The carrying amounts of the Company's assets are reviewed at each balance sheet date to determine whether there is any indication of impairment loss. If any such indication exists, recoverable amount is estimated in order to determine the extent of the impairment loss, if any. Impairment loss is recorded on judgmental basis, for which provision may differ in the future years based on the actual expense.

### 5 FUNCTIONAL AND PRESENTATION CURRENCY

These financial statement are prepared in United States Dollars which is the Business' functional currency.

### 6 SIGNIFICANT ACCOUNTING POLICIES

The significant accounting policies adopted in preparation of these financial statements are set out below. These policies have been consistently applied to all years prescribed, unless otherwise stated.

#### 6.1 Cash and cash equivalents

Cash and cash equivalents are carried in the balance sheet at cost. For the purpose of cash flow statement, cash and cash equivalents comprise cash in hand and cash with banks in current and saving accounts.

#### 6.2 Property and equipment

Property and equipment are initially recognized at acquisition cost including any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the management. Subsequently, property and equipment are stated at cost less accumulated depreciation and any identified impairment losses. Subsequent costs are included in the asset's carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the companies and the cost of the item can be measured reliably. All other repairs and maintenance costs are charged to income statement during the year in which they are incurred.

#### 6.3 Subsequent Events

Management has evaluated subsequent events for recognition and disclosure in the financial statements through April 30, 2022, which is the date the financial statements were available to be issued. Through April 30, 2022, no subsequent events required recognition or disclosure in the financial statements.

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the period from January 01, 2022 to April 30, 2022

In US Dollars

### 6.4 Taxation

The business has recognized in the financial statements the effects of all tax positions and continually evaluates expiring statutes of limitations, audits, changes in tax law, and new authoritative rulings. The business is not aware of any circumstances or events that make it reasonably possible that unrecognized tax benefits may increase or decrease within the reporting period of the statement of financial position date. Penalties and interest assessed by taxing authorities are included in the provision for income taxes, if applicable. There were no penalties or interest paid during the reporting period.

### 6.5 Provisions

A provision is recognized when, and only when, the companies has a present obligation (legal or constructive) as a result of past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate.

### 6.6 Use of estimates

The preparation of financial statements require the certain critical accounting estimates. It also requires the management to exercise its judgment in the process of applying the Company's accounting policies. Estimates and judgments are continually evaluated and are based on historical experience, including expectation of future events that are believed to be reasonable under the circumstances. The areas where various assumptions and estimates are significant to the Company's financial statements or where judgments were exercised in application of accounting policies are below:

- Operating fixed assets - tangible or intangible

### Note 7

#### Cash and Bank Balances

|  | Amount |
| --- | --- |
| Cash and Bank Balances | 20,530 |
| Total | 20,530 |

### Note 8

#### Revenue

|  | Amount |
| --- | --- |
| Sales | 24,262 |
| Total | 24,262 |

### Note 9

#### Cost of Sales

|  | Amount |
| --- | --- |
| Cost of Sales | - |
| Total | - |

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the period from January 01, 2022 to April 30, 2022

In US Dollars

These notes form an integral part of the financial statements.

### Note 10

#### General & Administrative Expenses

|  | Amount |
| --- | --- |
| Finance Cost | 1,892 |
| IT, Software & Subscriptions | 4,444 |
| Office Supplies & Expenses | 1,102 |
| Other Misc. Expenses | 2,011 |
| Salaries & Wages | 43,478 |
| Stripe Fees | 1,612 |
| Travel | 340 |
| Total | 54,879 |

### Note 11

#### Selling & Marketing Expenses

|  | Amount |
| --- | --- |
| Advertisement & Marketing | 1,728 |
| Total | 1,728 |

### Note 12

#### Other Incomes

|  | Amount |
| --- | --- |
| Discounts, Refunds & Credits | - |
| Total | - |

### Note 13

#### Date of Authorization of Financial Statements

These financial statements were authorized for issue on _______________ by the Board of Directors.

### Note 14

#### General

Figures have been rounded off to the nearest dollar.

**Accounts Manager**

Muhammad Arsalan

**Chief Executive Officer**

Justin Smith

# Audited Financials

Final Audit Report

2022-12-14

| Created: | 2022-12-14 |
| --- | --- |
| By: | Justin Smith (justinbriansmith@student.fullsail.edu) |
| Status: | Signed |
| Transaction ID: | CBJCHBCAABAAYuv3wXaMzruvUBogiaj33pwj5pDIMBb- |

## "Audited Financials" History

- Document created by Justin Smith (justinbriansmith@student.fullsail.edu)
  2022-12-14 - 1:58:16 AM GMT- IP address: 104.52.118.169
- Document emailed to ceo@contractorplus.app for signature
  2022-12-14 - 2:03:50 AM GMT
- Email viewed by ceo@contractorplus.app
  2022-12-14 - 2:03:55 AM GMT- IP address: 74.125.212.216
- Signer ceo@contractorplus.app entered name at signing as Justin Smith
  2022-12-14 - 2:07:27 AM GMT- IP address: 104.52.118.169
- Document e-signed by Justin Smith (ceo@contractorplus.app)
  Signature Date: 2022-12-14 - 2:07:29 AM GMT - Time Source: server- IP address: 104.52.118.169
- Document emailed to accounting@contractorplus.app for signature
  2022-12-14 - 2:07:31 AM GMT
- Email viewed by accounting@contractorplus.app
  2022-12-14 - 2:07:33 AM GMT- IP address: 74.125.150.38
- Signer accounting@contractorplus.app entered name at signing as Muhammad Arsalan
  2022-12-14 - 2:11:16 AM GMT- IP address: 101.53.236.89
- Document e-signed by Muhammad Arsalan (accounting@contractorplus.app)
  Signature Date: 2022-12-14 - 2:11:18 AM GMT - Time Source: server- IP address: 101.53.236.89
- Agreement completed.
  2022-12-14 - 2:11:18 AM GMT

**Adobe Acrobat Sign**

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

Contact

www.linkedin.com/in/
justinbriansmith (LinkedIn)
contractorplus.app (Company)
contractorplusclub.com (Company)

Top Skills

Entrepreneur
Business Strategy
Internet Strategy

Languages

English (Native or Bilingual)

Certifications

Microeconomics I: Supply And
Demand
Customer Discovery
Finance: Time Value of Money

# Justin Smith

I help contractors systemize and profitably SCALE their business!
Columbus, Ohio Metropolitan Area

## Summary

I'm a serial entrepreneur, web developer, marketer, advisor, the guy who does whatever it takes.

I work with over 20,000 contractors, helping them streamline their operations, look more professional, and make a lot more money.

## Experience

Contractor+

CEO

February 2020 - Present (3 years 2 months)

Orlando, Florida Area

Mobile field service management solution helping home remodeling & handyman contractors work more efficiently, look more professional to their clients, win more jobs and generate more revenue.

SpryOX

COO

April 2015 - March 2020 (5 years)

Mumbai, Maharashtra, India

Full-service IT servicing and web development firm serving clients in UAE, Asia, UK, Australia and USA.

Reid Organization, Inc.

VP Operations

January 2006 - August 2012 (6 years 8 months)

Orlando, Florida Area

Real estate, property management and property maintenance. Over 750 units under management.

Action Fanatics Inc

Director Of Ecommerce

June 2004 - March 2005 (10 months)

Design, Development, Ecommerce Strategy, Marketing

Page 1 of 2

# Education

Full Sail University

Master of Science - MS, Entertainment Business · (2005 - 2008)

Page 2 of 2

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

Contact

www.linkedin.com/in/roshansethia
(LinkedIn)
www.contractorplus.app/
(Company)

Top Skills

PHP
MySQL
AJAX

# Roshan Sethia

Contractor+ helps Field Service Contractors ♂# Unite Their Team,
Impress Their Clients & Grow Their Business | CTO @ Contractor+
Mumbai, Maharashtra, India

## Summary

A passionate Entrepreneur, Tech enthusiast, Perfectionist, and a
loving father.

I am a Co-Founder & Chief Technology Officer of Contractor+
(www.contractorplus.app) which helps Field Service Contractors
automate their current workflow & boost productivity.

We at Contractor Plus, are building an ecosystem for Field Service
Contractors that will help them streamline their process & help them
scale their business. Part of the ecosystem is as follows:

A) Contractor+ App

Contractor+ App is an all-in-one app for handyman service
contractors to manage their services & streamline operations. The
platform allows artisans to get their entire team organized in one
place. Contractor+ provides the following solutions to help increase
accountability & streamline your field service business:

- Client Relationship Management

- ♀#♂# Team Management

- Job Scheduling, Booking & Dispatching

- Accurate, Itemized Estimating

- Streamlined Invoicing & Payments

- Tool Tracking

- Accounting

Since November 19 2020, the official launch of Contractor+ App, we
got 2000+ registered users, 35 paying subscribers to our paid plans.
We are getting anywhere around 50-70 new signups every day.

Contractor+ App is available to download and use totally free for
both Android and iPhone.

Page 1 of 3

# B) Contractor+ Club

Contractor+ Club is a directory for Contractors where they can simply Add a FREE Business Listing and can generate qualified leads via local exposure.

Contractor+ Club has over 800,000 contractors business listed over 100+ categories, 50+ states & 100,000+ cities.

# C) Contractor+ Works

Contractor+ Works will allow Contractors to find the right workers required to be part of their team. It is a medium connecting both Contractors & Workers and helps boost their growth.

We believe Contractor+ is a crucial tool to the success of your field service business by helping you automate & manage things on a single platform.

If you want to talk more just email me: cto@contractorplus.app or Skype: roshansethia Or send me a message here on LinkedIn.

# Experience

Contractor Plus, Inc.

Co-Founder & CTO

April 2020 - Present (3 years)

Orlando, Florida, United States

Leading DevOps team of 6 members who are working hard to build Contractor +.

At Contractor+, we are building a solution for handyman/field service contractors & property managers which helps them work more efficiently, look more professional to their clients, win more jobs and generate more revenue.

Page 2 of 3

As Contractor+ is a startup, I wear many hats including Technology, Operations, Ideation, Marketing & much more.

# SpryOX

Chief Technology Officer

April 2015 - March 2020 (5 years)

Mumbai Area, India

Leading an exceptional team of 30+ SpryOXians to bring exceptional quality Enterprise products, Mobile Apps (Android & iOS) and Web Applications (Websites, ECommerce, Web Application) for our global clientele. At SpryOX we have very high service standards and constantly increase our internal benchmarking. We have always been ahead of times in terms of technology adaption.

We apply precision, passion and experience to bring exceptional technology solutions and always love having a smiling customer.

At SpryOX, I wear many hats including Technology Consulting & Execution, Business Development, Digital Marketing and much more.

# Ganniti

Freelance Information Technology Consultant

July 2009 - March 2015 (5 years 9 months)

# Geodesic

Software Engineer

July 2010 - October 2011 (1 year 4 months)

# Education

University of Mumbai

Bachelor of Engineering, Computers · (2007 - 2009)

Fr. Conceicao Rodrigues College of Engineering

Bachelor of Computer Engineering, Computers · (2007 - 2009)

Page 3 of 3

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

# Contractor Plus, Inc.

## **Audited Financial Statements**

For the year ended December 31, 2020

# Table of Contents

Independent Auditor's Report...1

Audited Financial Statements...5

Statement of Financial Position 5
Statement of Profit & Loss 6
Statement of Cash Flows 7
Statement of Changes in Equity 8
Notes to the Financial Statements 9

Drenchko Stephanie, CPA

Page | 1

# Independent Auditors' Report

To the Board of Directors and Shareholders

Contractor Plus, Inc.

## Report on the Financial Statements

### Opinion

We have audited the accompanying balance sheet of Contractor Plus, Inc "The Company", as of December 31, 2020, and the related statements of profit and loss, statement of cash flows, statement of changes in equity, and the notes to the financial statements for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.

In our opinion, the financial statements referred to above, present fairly, in all material respects, the financial position of The Company as of December 31, 2020, and the results of its operations for the year then ended in conformity with accounting principles generally accepted in the United States of America.

### Basis of Opinion

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

### Management's Responsibility for the Financial Statements

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

In preparing the financial statements, management is responsible for assessing the Organization's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations or has no realistic alternative but to do so.

Drenchko Stephanie, CPA

Page | 2

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

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with the auditing standards generally accepted in United States of America will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:

- Identified and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. 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.
- Obtained 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.
- Evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
- Concluded on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
- Evaluated the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtained sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Drenchko Stephanie, CPA

Page | 3

We also provide the directors with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with the directors, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Drenchko Stephanie

Nov 17, 2022

Drenchko Stephanie, CPA

Partner,

GDS International Co

License #: 098780

Contact: +1 (949) 354-4109

9 Knollwood DrBallston Lake, NY 12019

Independent Auditor

Drenchko Stephanie, CPA

Page | 4

# Contractor Plus, Inc.

## Balance Sheet

As at December 31, 2020

In US Dollars

|  | Notes | Amount |
| --- | --- | --- |
| Assets |  |  |
| Non-current Assets |  |  |
| Property, plant, and equipment |  | - |
| Total Non-current assets |  | - |
| Current Assets |  |  |
| Cash and Bank Balances | 7 | 558 |
| Total Current assets |  | 558 |
| Total Assets |  | 558 |
| Liabilities and Equity |  |  |
| Long-term Liabilities |  |  |
| Director Loan |  | 7,904 |
| Total Long-term liabilities |  | 7,904 |
| Current Liabilities |  |  |
| Deferred Revenue |  | 99 |
| Provision for Taxation |  | 450 |
| Total Current liabilities |  | 549 |
| Total Liabilities |  | 8,453 |
| Equity |  |  |
| Capital |  | 50 |
| Retained Earnings |  | (7,945) |
| Total Equity |  | (7,895) |
| Total Liabilities and Owner's Equity |  | 558 |

The annexed notes 01 to 14 form an integral part of these financial statements.

Accounts Manager

Chief Executive

# Contractor Plus, Inc.

## Income Statement

For the year ended December 31, 2020

In US Dollars

|  | Notes | Amount |
| --- | --- | --- |
| Total Revenue | 8 | 340 |
| Less: Cost of Sales | 9 | - |
| Gross Profit |  | 340 |
| Operating Expenses |  |  |
| General & Administrative Expenses | 10 | 6,181 |
| Selling & Marketing Expenses | 11 | 2,104 |
| Total Expenses |  | (8,285) |
| Operating Profit / (Loss) |  | (7,945) |
| Other Incomes | 12 | - |
| Net Profit / (Loss) for the year |  | (7,945) |

The annexed notes 01 to 14 form an integral part of these financial statements.

**Accounts Manager** Muhammad Arsalan

**Chief Executive** Justin Smith

# Contractor Plus, Inc.

## Statement of Cash Flows

For the year ended December 31, 2020

In US Dollars

|  | Notes | Amount |
| --- | --- | --- |
| Cashflow from Operating Activities |  |  |
| Profit / (Loss) for the period |  | (7,945) |
| Adjustments for: |  |  |
| Deferred Revenue |  | 99 |
| Provision for Taxation |  | 450 |
| Cash used in Operating Activities |  | (7,396) |
| Cashflow from Investing Activities |  |  |
| Purchase of Property, plant & Equipment |  | - |
| Cash used in Investing Activities |  | - |
| Cashflow from Financing Activities |  |  |
| Proceeds from Directors' Loan |  | 7,904 |
| Funds contributed by Members |  | 50 |
| Cash generated from Financing Activities |  | 7,954 |
| Net Cash generated during the year |  | 558 |
| Cash & Cash equivalents at the beginning of the year |  | - |
| Cash & Cash equivalents at the end of the year |  | 558 |

*The annexed notes 01 to 14 form an integral part of these financial statements.*

**Accounts Manager**

Muhammad Arsalan

**Chief Executive**

Justin Smith

# Contractor Plus, Inc.

## Statement of Changes in Equity

As at December 31, 2020

| PARTICULARS | Capital | Retained Earnings | Total |
| --- | --- | --- | --- |
|  | USD |  |  |
| Balance as at February 01, 2020 | - | - | - |
| Add: Owner's Investment | 50 | - | 50 |
| Profit / (Loss) for the period | - | (7,945) | (7,945) |
| Balance as at December 31, 2020 | 50 | (7,945) | (7,895) |

*The annexed notes 01 to 14 form an integral part of these financial statements.*

**Accounts Manager**

Muhammad Arsalan

**Chief Executive**

Justin Smith

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2020

in US Dollars

These notes form an integral part of the financial statements.

The financial statements were authorized for issue by the Board of Directors on [date]

### Note

#### 1 LEGAL STATUS AND NATURE OF BUSINESS

1.1 Contractor Plus, Inc. was incorporated in the State of Delaware on February 1, 2020. Contractor Plus is headquartered in Orlando, Florida. Contractor Plus is a mobile vertical SaaS company comprised of two officers, Justin Smith, CEO and Roshan Sethia, CTO. Contractor Plus is a mobile application for field service contractors. It does estimating, invoicing, post-inspections, payment facilitation, etc.

#### 2 STATEMENT OF COMPLIANCE

2.1 The accompanying Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America ('USGAAP').

#### 3 BASIS OF MEASUREMENT

These financial statement have been prepared under the historical cost convention. In these financial statement, except for the amounts reflected in the cash flow statement, all transactions have been accounted for on accrual basis.

#### 4 JUDGMENT, ESTIMATES AND ASSUMPTIONS

The preparation of financial statements is in conformity with approved accounting standards which requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and related assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. The estimates and related assumptions are reviewed on an ongoing basis. Accounting estimates are revised in the period in which such revisions are made and in any future periods affected.

Judgment made by management in the application of approved standards that have significant effect on the financial statements and estimates with a risk of material adjustment in subsequent year are as follows:

##### 4.1 Provisions

Provisions are based on best estimate of the expenditure required to settle the present obligation at the reporting date, that is, the amount that the Company would rationally pay to settle the obligation at the reporting date or to transfer it to a third party.

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2020

in US Dollars

### 4.2 Impairment

The carrying amounts of the Company's assets are reviewed at each balance sheet date to determine whether there is any indication of impairment loss. If any such indication exists, recoverable amount is estimated in order to determine the extent of the impairment loss, if any. Impairment loss is recorded on judgmental basis, for which provision may differ in the future years based on the actual expense.

### 5 FUNCTIONAL AND PRESENTATION CURRENCY

These financial statement are prepared in United States Dollars which is the Business' functional currency.

### 6 SIGNIFICANT ACCOUNTING POLICIES

The significant accounting policies adopted in preparation of these financial statements are set out below. These policies have been consistently applied to all years prescribed, unless otherwise stated.

#### 6.1 Cash and cash equivalents

Cash and cash equivalents are carried in the balance sheet at cost. For the purpose of cash flow statement, cash and cash equivalents comprise cash in hand and cash with banks in current and saving accounts.

#### 6.2 Property and equipment

Property and equipment are initially recognized at acquisition cost including any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the management. Subsequently, property and equipment are stated at cost less accumulated depreciation and any identified impairment losses. Subsequent costs are included in the asset's carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the companies and the cost of the item can be measured reliably.

All other repairs and maintenance costs are charged to income statement during the year in which they are incurred.

#### 6.3 Subsequent Events

Management has evaluated subsequent events for recognition and disclosure in the financial statements through December 31, 2020, which is the date the financial statements were available to be issued. Through December 31, 2020, no subsequent events required recognition or disclosure in the financial statements.

#### 6.4 Taxation

The business has recognized in the financial statements the effects of all tax positions and continually evaluates expiring statutes of limitations, audits, changes in tax law, and new authoritative rulings. The business is not aware of any circumstances or events that make it reasonably possible that unrecognized tax benefits may increase or decrease within the reporting period of the statement of financial position date. Penalties and interest assessed by taxing authorities are included in the provision for income taxes, if applicable. There were no penalties or interest paid during the reporting period.

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2020

in US Dollars

### 6.5 Provisions

A provision is recognized when, and only when, the companies has a present obligation (legal or constructive) as a result of past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate.

### 6.6 Use of estimates

The preparation of financial statements require the certain critical accounting estimates. It also requires the management to exercise its judgment in the process of applying the Company's accounting policies. Estimates and judgments are continually evaluated and are based on historical experience, including expectation of future events that are believed to be reasonable under the circumstances. The areas where various assumptions and estimates are significant to the Company's financial statements or where judgments were exercised in application of accounting policies are below:

- Operating fixed assets - tangible or intangible
- Assessment of provision for contingencies

### Note 7

| Cash and Bank Balances | Amount |
| --- | --- |
| Cash and Bank Balances | 558 |
| Total | 558 |

### Note 8

| Revenue | Amount |
| --- | --- |
| Sales | 340 |
| Total | 340 |

### Note 9

| Cost of Sales | Amount |
| --- | --- |
| Cost of Sales | - |
| Total | - |

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2020

In US Dollars

These notes form an integral part of the financial statements.

Note 10

| General & Administrative Expenses | Amount |
| --- | --- |
| IT, Software & Subscriptions | 630 |
| Office Supplies & Expenses | 350 |
| Other Misc. Expenses | 1,075 |
| Salaries & Wages | 3,656 |
| Stripe Fees | 20 |
| Taxes & Licenses | 450 |
| Total | 6,181 |

Note 11

| Selling & Marketing Expenses | Amount |
| --- | --- |
| Advertisement & Marketing | 2,104 |
| Total | 2,104 |

Note 12

| Other Incomes | Amount |
| --- | --- |
| Discounts, Refunds & Credits | - |
| Total | - |

Note 13

Date of Authorization of Financial Statements

These financial statements were authorized for issue on _______________ by the Board of Directors.

Note 14

General

Figures have been rounded off to the nearest dollar.

Accounts Manager

Muhammad Arsalan

Chief Executive Officer

Justin Smith

# Contractor Plus, Inc.

## **Audited Financial Statements**

For the year ended December 31, 2021

# Table of Contents

Independent Auditor's Report...1

Audited Financial Statements...5

Statement of Financial Position 5
Statement of Profit & Loss 6
Statement of Cash Flows 7
Statement of Changes in Equity 8
Notes to the Financial Statements 9

Drenchko Stephanie, CPA

Page | 1

# Independent Auditors' Report

To the Board of Directors and Shareholders

Contractor Plus, Inc.

## Report on the Financial Statements

### Opinion

We have audited the accompanying balance sheet of Contractor Plus, Inc "The Company", as of December 31, 2021, and the related statements of profit and loss, statement of cash flows, statement of changes in equity, and the notes to the financial statements for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.

In our opinion, the financial statements referred to above, present fairly, in all material respects, the financial position of The Company as of December 31, 2021, and the results of its operations for the year then ended in conformity with accounting principles generally accepted in the United States of America.

### Basis of Opinion

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

### Management's Responsibility for the Financial Statements

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

In preparing the financial statements, management is responsible for assessing the Organization's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations or has no realistic alternative but to do so.

Drenchko Stephanie, CPA

Page | 2

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

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with the auditing standards generally accepted in United States of America will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:

- Identified and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. 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.
- Obtained 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.
- Evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
- Concluded on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
- Evaluated the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtained sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Drenchko Stephanie, CPA

Page | 3

We also provide the directors with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with the directors, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Drenchko Stephanie
Nov 17, 2022

Drenchko Stephanie, CPA

Partner,

GDS International Co

License #: 098780

Contact: +1 (949) 354-4109

9 Knollwood DrBallston Lake, NY 12019

Independent Auditor

Drenchko Stephanie, CPA

Page | 4

# Contractor Plus, Inc.

## Balance Sheet

As at December 31, 2021

In US Dollars

|  | Notes | 2021 | 2020 |
| --- | --- | --- | --- |
| Assets |  |  |  |
| Non-current Assets |  |  |  |
| Refund Claims |  | 128 | - |
| Total Non-current assets |  | 128 | - |
| Current Assets |  |  |  |
| Accounts Receivable |  | 1,271 | - |
| Cash and Bank Balances | 7 | 44,416 | 558 |
| Total Current assets |  | 45,687 | 558 |
| Total Assets |  | 45,815 | 558 |
| Liabilities and Equity |  |  |  |
| Long-term Liabilities |  |  |  |
| Convertible Loan |  | 115,304 | - |
| Director Loan |  | 7,904 | 7,904 |
| Total Long-term liabilities |  | 123,208 | 7,904 |
| Current Liabilities |  |  |  |
| Accrued Expenses |  | 1,024 | - |
| Deferred Revenue |  | 12,121 | 99 |
| Provision for Taxation |  | - | 450 |
| Short-term Loan |  | 2,278 | - |
| Total Current liabilities |  | 15,423 | 549 |
| Total Liabilities |  | 138,631 | 8,453 |
| Equity |  |  |  |
| Capital |  | 53 | 50 |
| Retained Earnings |  | (92,869) | (7,945) |
| Total Equity |  | (92,816) | (7,895) |
| Total Liabilities and Owner's Equity |  | 45,815 | 558 |

*The annexed notes 01 to 14 form an integral part of these financial statements*

Accounts Manager

Chief Executive

# Contractor Plus, Inc.

## Income Statement

For the year ended December 31, 2021

In US Dollars

|  | Notes | 2021 | 2020 |
| --- | --- | --- | --- |
| Total Revenue | 8 | 26,454 | 340 |
| Less: Cost of Sales | 9 | - | - |
| Gross Profit |  | 26,454 | 340 |
| Operating Expenses |  |  |  |
| General & Administrative Expenses | 10 | 79,114 | 6,181 |
| Selling & Marketing Expenses | 11 | 32,991 | 2,104 |
| Total Expenses |  | (112,105) | (8,285) |
| Operating Profit / (Loss) |  | (85,651) | (7,945) |
| Other Income | 12 | 727 | - |
| Net Profit / (Loss) for the year |  | (84,924) | (7,945) |

The annexed notes 01 to 14 form an integral part of these financial statements.

Accounts Manager

Muhammad Arsalan

Chief Executive

Justin Smith

# Contractor Plus, Inc.

## Statement of Cash Flows

For the year ended December 31, 2021

In US Dollars

|  | Notes | 2021 | 2020 |
| --- | --- | --- | --- |
| Cashflow from Operating Activities |  |  |  |
| Profit / (Loss) for the period |  | (84,924) | (7,945) |
| Adjustments for: |  |  |  |
| Depreciation |  | - | - |
| Total |  | - | - |
| Changes in Working Capital: |  |  |  |
| Accounts Receivable |  | (1,271) | - |
| Accrued Expenses |  | 1,024 | - |
| Deferred Revenue |  | 12,022 | 99 |
| Provision for Taxation |  | (450) | 450 |
| Short-term Loan |  | 2,278 | - |
| Total |  | 13,602 | 549 |
| Cash used in Operating Activities |  | (71,322) | (7,396) |
| Cashflow from Investing Activities |  |  |  |
| Refund Claims |  | (128) | - |
| Cash used in Investing Activities |  | (128) | - |
| Cashflow from Financing Activities |  |  |  |
| Convertible Loan |  | 115,304 | - |
| Director Loan |  | - | 7,904 |
| Capital Investment |  | 3 | 50 |
| Cash generated from Financing Activities |  | 115,307 | 7,954 |
| Net Cash generated during the year |  | 43,858 | 558 |
| Cash & Cash equivalents at the beginning of the year |  | 558 | - |
| Cash & Cash equivalents at the end of the year |  | 44,416 | 558 |

The annexed notes 01 to 14 form an integral part of these financial statements.

**Accounts Manager** Muhammad Arsalan

**Chief Executive** Justin Smith

# Contractor Plus, Inc.

## Statement of Changes in Equity

As at December 31, 2021

| PARTICULARS | Capital | Retained Earnings | Total |
| --- | --- | --- | --- |
|  | USD |  |  |
| Balance as at February 01, 2020 | - | - | - |
| Add: Owner's Investment | 50 | - | 50 |
| Profit / (Loss) for the period | - | (7,945) | (7,945) |
| Balance as at January 01, 2021 | 50 | (7,945) | (7,895) |
| Add: Owner's Investment | 3 | - | 3 |
| Profit / (Loss) for the period | - | (84,924) | (84,924) |
| Balance as at December 31, 2021 | 53 | (92,869) | (92,816) |

The annexed notes 01 to 14 form an integral part of these financial statements.

Accounts Manager

Muhammad Arsalan

Chief Executive

Justin Smith

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2021

in US Dollars

These notes form an integral part of the financial statements.

The financial statements were authorized for issue by the Board of Directors on [date]

### Note

#### 1 LEGAL STATUS AND NATURE OF BUSINESS

1.1 Contractor Plus, Inc. was incorporated in the State of Delaware on February 1, 2020. Contractor Plus is headquartered in Orlando, Florida. Contractor Plus is a mobile vertical SaaS company comprised of two officers, Justin Smith, CEO and Roshan Sethia, CTO. Contractor Plus is a mobile application for field service contractors. It does estimating, invoicing, post-inspections, payment facilitation, etc.

#### 2 STATEMENT OF COMPLIANCE

2.1 The accompanying Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America ('USGAAP').

#### 3 BASIS OF MEASUREMENT

These financial statement have been prepared under the historical cost convention. In these financial statement, except for the amounts reflected in the cash flow statement, all transactions have been accounted for on accrual basis.

#### 4 JUDGMENT, ESTIMATES AND ASSUMPTIONS

The preparation of financial statements is in conformity with approved accounting standards which requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and related assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. The estimates and related assumptions are reviewed on an ongoing basis. Accounting estimates are revised in the period in which such revisions are made and in any future periods affected.

Judgment made by management in the application of approved standards that have significant effect on the financial statements and estimates with a risk of material adjustment in subsequent years are as follows:

##### 4.1 Depreciation method, rates and useful lives of property, plant and equipment

The management of the Company reassesses useful lives, depreciation method, and rates for each item of property, plant and equipment annual by considering expected pattern of economic benefits that the Company expects to derive from those items.

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2021

in US Dollars

### 4.2 Provisions

Provisions are based on best estimate of the expenditure required to settle the present obligation at the reporting date, that is, the amount that the Company would rationally pay to settle the obligation at the reporting date or to transfer it to a third party.

### 4.3 Impairment

The carrying amounts of the Company's assets are reviewed at each balance sheet date to determine whether there is any indication of impairment loss. If any such indication exists, recoverable amount is estimated in order to determine the extent of the impairment loss, if any. Impairment loss is recorded on judgmental basis, for which provision may differ in the future years based on the actual expense.

## 5 FUNCTIONAL AND PRESENTATION CURRENCY

These financial statements are prepared in United States Dollars which is the Business' functional currency.

## 6 SIGNIFICANT ACCOUNTING POLICIES

The significant accounting policies adopted in preparation of these financial statements are set out below. These policies have been consistently applied to all years prescribed, unless otherwise stated.

### 6.1 Cash and cash equivalents

Cash and cash equivalents are carried in the balance sheet at cost. For the purpose of cash flow statement, cash and cash equivalents comprise cash in hand and cash with banks in current and saving accounts.

### 6.2 Property and equipment

Property and equipment are initially recognized at acquisition cost including any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the management. Subsequently, property and equipment are stated at cost less accumulated depreciation and any identified impairment losses. Subsequent costs are included in the asset's carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the companies and the cost of the item can be measured reliably.

All other repairs and maintenance costs are charged to income statement during the year in which they are incurred.

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2021

in US Dollars

### 6.3 Intangible asset

An intangible asset is an identifiable non-monetary asset without physical substance. An intangible asset is recognized if it is probable that the future economic benefits that are attributable to the asset will flow to the companies and that the cost of such asset can also be measured reliably. Cost of the intangible asset includes purchase cost and directly attributable expenses incidental to bring the asset for its intended use.

Costs associated with maintaining computer software are recognized as an expense as and when incurred.

Intangible assets are stated at cost less accumulated amortization and accumulated impairment losses, if any. Amortization is charged over the estimated useful life of the asset on a systematic basis by applying the reducing balance method from the month when such asset is available for use.

### 6.4 Subsequent Events

Management has evaluated subsequent events for recognition and disclosure in the financial statements through December 31, 2021, which is the date the financial statements were available to be issued. Through December 31, 2021, no subsequent events required recognition or disclosure in the financial statements.

### 6.5 Taxation

The business has recognized in the financial statements the effects of all tax positions and continually evaluates expiring statutes of limitations, audits, changes in tax law, and new authoritative rulings. The business is not aware of any circumstances or events that make it reasonably possible that unrecognized tax benefits may increase or decrease within 12 months of the statement of financial position date. Penalties and interest assessed by taxing authorities are included in the provision for income taxes, if applicable. There were no penalties or interest paid during the reporting period.

### 6.6 Provisions

A provision is recognized when, and only when, the companies has a present obligation (legal or constructive) as a result of past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate.

### 6.7 Use of estimates

The preparation of financial statements require the certain critical accounting estimates. It also requires the management to exercise its judgment in the process of applying the Company's accounting policies. Estimates and judgments are continually evaluated and are based on historical experience, including expectation of future events that are believed to be reasonable under the circumstances. The areas where various assumptions and estimates are significant to the Company's financial statements or where judgments were exercised in application of accounting policies are below:

- Operating fixed assets - tangible or intangible

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2021

In US Dollars

These notes form an integral part of the financial statements.

### Note 7

| Cash and Bank Balances | 2021 | 2020 |
| --- | --- | --- |
| Cash and Bank Balances | 44,416 | 558 |
| Total | 44,416 | 558 |

### Note 8

| Revenue | 2021 | 2020 |
| --- | --- | --- |
| Sales | 26,454 | 340 |
| Total | 26,454 | 340 |

### Note 9

| Cost of Sales | 2021 | 2020 |
| --- | --- | --- |
| Cost of Sales | - | - |
| Total | - | - |

### Note 10

| General & Administrative Expenses | 2021 | 2020 |
| --- | --- | --- |
| Finance Costs | 1,777 | - |
| IT, Software & Subscriptions | 1,152 | 630 |
| Legal & Professional Fees | 1,759 | - |
| Office Supplies & Expenses | 540 | 350 |
| Other Misc. Expenses | 3,614 | 1,075 |
| Salaries & Wages | 64,137 | 3,656 |
| Stripe Fees | 3,388 | 20 |
| Taxes & Licenses | - | 450 |
| Travel | 2,745 | - |
| Total | 79,114 | 6,181 |

### Note 11

| Selling & Marketing Expenses | 2021 | 2020 |
| --- | --- | --- |
| Advertisement & Marketing | 32,991 | 2,104 |
| Total | 32,991 | 2,104 |

### Note 12

| Other Income | 2021 | 2020 |
| --- | --- | --- |
| Discounts, Credits & Refunds | 727 | - |
| Total | 727 | - |

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the year ended December 31, 2021

In US Dollars

### Note 13

#### Date of Authorization of Financial Statements

These financial statements were authorized for issue on _______________ by the Board of Directors.

### Note 14

#### General

Figures have been rounded off to the nearest dollar.

**Accounts Manager** Muhammad Arsalan

**Chief Executive Officer** Justin Smith

# Contractor Plus, Inc.

## Independent Accountant's Review Report

For the period from January 01, 2022 to April 30, 2022

# Independent Accountant's Review Report

November 17, 2022

To the Board of Directors and Members
Contractor Plus, Inc.

We have reviewed the accompanying balance sheet of Contractor Plus, Inc. as of April 30, 2022, the related statements of profit & loss for the period ended, statement of net assets, and the statements of cash flows for the period then ended.

These financial statements are the responsibility of the Company's management. Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America and for designing, implementing, and maintaining internal control relevant to the preparation and fair presentation of the financial statements.

We conducted our reviews in accordance with standards established by the American Institute of Certified Public Accountants. A review of the financial information consists principally of applying analytical procedures to financial data and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with auditing standards generally accepted in the United States, which will be performed for the full year with the objective of expressing an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.

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

Drenchko Stephanie
Nov 17, 2022

Drenchko Stephanie, CPA

Partner,

GDS International Co

License #: 098780

Contact: +1 (949) 354-4109

9 Knollwood DrBallston Lake, NY 12019

Independent Accountant

# Contractor Plus, Inc.

## Balance Sheet

As at April 30, 2022

In US Dollars

|  | Notes | Amount |
| --- | --- | --- |
| Assets |  |  |
| Non-current Assets |  |  |
| Property, plant, and equipment |  | - |
| Total Non-current assets |  | - |
| Current Assets |  |  |
| Accounts Receivable |  | 1,748 |
| Cash and Bank Balances | 7 | 20,530 |
| Total Current assets |  | 22,278 |
| Total Assets |  | 22,278 |
| Liabilities and Equity |  |  |
| Long-term Liabilities |  |  |
| Convertible Loan |  | 117,196 |
| Director Loan |  | 7,904 |
| Total Long-term liabilities |  | 125,100 |
| Current Liabilities |  |  |
| Deferred Revenue |  | 15,690 |
| Accrued Expenses |  | 6,639 |
| Total Current liabilities |  | 22,328 |
| Total Liabilities |  | 147,429 |
| Equity |  |  |
| Capital |  | 53 |
| Retained Earnings |  | (125,204) |
| Total Equity |  | (125,151) |
| Total Liabilities and Owner's Equity |  | 22,278 |

The annexed notes 01 to 14 form an integral part of these financial statements.

**Accounts Manager**

Muhammad Arsalan

**Chief Executive**

Justin Smith

# Contractor Plus, Inc.

## Income Statement

For the period from January 01, 2022 to April 30, 2022

In US Dollars

|  | Notes | Amount |
| --- | --- | --- |
| Total Revenue | 8 | 24,262 |
| Less: Cost of Sales | 9 | - |
| Gross Profit |  | 24,262 |
| Operating Expenses |  |  |
| General & Administrative Expenses | 10 | 54,879 |
| Selling & Marketing Expenses | 11 | 1,728 |
| Total Expenses |  | (56,607) |
| Operating Profit / (Loss) |  | (32,345) |
| Other Incomes | 12 | - |
| Net Profit / (Loss) for the period |  | (32,345) |

The annexed notes 01 to 14 form an integral part of these financial statements.

Accounts Manager

Muhammad Arsalan

Chief Executive

Justin Smith

# Contractor Plus, Inc.

## Statement of Cash Flows

For the period from January 01, 2022 to April 30, 2022

In US Dollars

|  | Notes | Amount |
| --- | --- | --- |
| Cashflow from Operating Activities |  |  |
| Profit / (Loss) for the period |  | (32,345) |
| Adjustments for: |  |  |
| Accounts Receivable |  | (477) |
| Deferred Revenue |  | 3,569 |
| Short-term Loan |  | (2,267) |
| Accrued Expenses |  | 5,615 |
| Cash used in Operating Activities |  | (25,906) |
| Cashflow from Investing Activities |  |  |
| Refund Claims |  | 128 |
| Cash used in Investing Activities |  | 128 |
| Cashflow from Financing Activities |  |  |
| Proceeds from Convertible Loan |  | 1,892 |
| Funds contributed by Members |  | - |
| Cash generated from Financing Activities |  | 1,892 |
| Net Cash generated during the period |  | 23,886 |
| Cash & Cash equivalents at the beginning of the period |  | 44,416 |
| Cash & Cash equivalents at the end of the period |  | 20,530 |

*The annexed notes 01 to 14 form an integral part of these financial statements.*

Muhammad Arsalan

**Accounts Manager**
Muhammad Arsalan

**Chief Executive**
Justin Smith

# Contractor Plus, Inc.

## Statement of Changes in Equity

As at April 30, 2022

| PARTICULARS | Capital | Retained Earnings | Total |
| --- | --- | --- | --- |
|  | USD |  |  |
| Balance as at January 01, 2022 | 53 | (92,858) | (92,805) |
| Add: Owner's Investment | - | - | - |
| Profit / (Loss) for the period | - | (32,345) | (32,345) |
| Balance as at April 30, 2022 | 53 | (125,204) | (125,151) |

*The annexed notes 01 to 14 form an integral part of these financial statements.*

**Accounts Manager** Muhammad Arsalan

**Chief Executive** Justin Smith

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the period from January 01, 2022 to April 30, 2022

in US Dollars

These notes form an integral part of the financial statements.

The financial statements were authorized for issue by the Board of Directors on [date]

### Note

#### 1 LEGAL STATUS AND NATURE OF BUSINESS

1.1 Contractor Plus, Inc. was incorporated in the State of Delaware on February 1, 2020. Contractor Plus is headquartered in Orlando, Florida. Contractor Plus is a mobile vertical SaaS company comprised of two officers, Justin Smith, CEO and Roshan Sethia, CTO. Contractor Plus is a mobile application for field service contractors. It does estimating, invoicing, post-inspections, payment facilitation, etc.

#### 2 STATEMENT OF COMPLIANCE

2.1 The accompanying Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America ('USGAAP').

#### 3 BASIS OF MEASUREMENT

These financial statement have been prepared under the historical cost convention. In these financial statement, except for the amounts reflected in the cash flow statement, all transactions have been accounted for on accrual basis.

#### 4 JUDGMENT, ESTIMATES AND ASSUMPTIONS

The preparation of financial statements is in conformity with approved accounting standards which requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and related assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. The estimates and related assumptions are reviewed on an ongoing basis. Accounting estimates are revised in the period in which such revisions are made and in any future periods affected.

Judgment made by management in the application of approved standards that have significant effect on the financial statements and estimates with a risk of material adjustment in subsequent years are as follows:

##### 4.1 Depreciation method, rates and useful lives of property, plant and equipment

The management of the Company reassesses useful lives, depreciation method, and rates for each item of property, plant and equipment annual by considering expected pattern of economic benefits that the Company expects to derive from those items.

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the period from January 01, 2022 to April 30, 2022

in US Dollars

### 4.2 Provisions

Provisions are based on best estimate of the expenditure required to settle the present obligation at the reporting date, that is, the amount that the Company would rationally pay to settle the obligation at the reporting date or to transfer it to a third party.

### 4.3 Impairment

The carrying amounts of the Company's assets are reviewed at each balance sheet date to determine whether there is any indication of impairment loss. If any such indication exists, recoverable amount is estimated in order to determine the extent of the impairment loss, if any. Impairment loss is recorded on judgmental basis, for which provision may differ in the future years based on the actual expense.

## 5 FUNCTIONAL AND PRESENTATION CURRENCY

These financial statements are prepared in United States Dollars which is the Business' functional currency.

## 6 SIGNIFICANT ACCOUNTING POLICIES

The significant accounting policies adopted in preparation of these financial statements are set out below. These policies have been consistently applied to all years prescribed, unless otherwise stated.

### 6.1 Cash and cash equivalents

Cash and cash equivalents are carried in the balance sheet at cost. For the purpose of cash flow statement, cash and cash equivalents comprise cash in hand and cash with banks in current and saving accounts.

### 6.2 Property and equipment

Property and equipment are initially recognized at acquisition cost including any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the management. Subsequently, property and equipment are stated at cost less accumulated depreciation and any identified impairment losses. Subsequent costs are included in the asset's carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the companies and the cost of the item can be measured reliably. All other repairs and maintenance costs are charged to income statement during the year in which they are incurred.

### 6.3 Subsequent Events

Management has evaluated subsequent events for recognition and disclosure in the financial statements through April 30, 2022, which is the date the financial statements were available to be issued. Through April 30, 2022, no subsequent events required recognition or disclosure in the financial statements.

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the period from January 01, 2022 to April 30, 2022

in US Dollars

### 6.4 Taxation

The business has recognized in the financial statements the effects of all tax positions and continually evaluates expiring statutes of limitations, audits, changes in tax law, and new authoritative rulings. The business is not aware of any circumstances or events that make it reasonably possible that unrecognized tax benefits may increase or decrease within the reporting period of the statement of financial position date. Penalties and interest assessed by taxing authorities are included in the provision for income taxes, if applicable. There were no penalties or interest paid during the reporting period.

### 6.5 Provisions

A provision is recognized when, and only when, the companies has a present obligation (legal or constructive) as a result of past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate.

### 6.6 Use of estimates

The preparation of financial statements require the certain critical accounting estimates. It also requires the management to exercise its judgment in the process of applying the Company's accounting policies. Estimates and judgments are continually evaluated and are based on historical experience, including expectation of future events that are believed to be reasonable under the circumstances. The areas where various assumptions and estimates are significant to the Company's financial statements or where judgments were exercised in application of accounting policies are below:

- Operating fixed assets - tangible or intangible

### Note 7

| Cash and Bank Balances | Amount |
| --- | --- |
| Cash and Bank Balances | 20,530 |
| Total | 20,530 |

### Note 8

| Revenue | Amount |
| --- | --- |
| Sales | 24,262 |
| Total | 24,262 |

### Note 9

| Cost of Sales | Amount |
| --- | --- |
| Cost of Sales | - |
| Total | - |

# Contractor Plus, Inc.

## Notes to the Financial Statements

For the period from January 01, 2022 to April 30, 2022

In US Dollars

These notes form an integral part of the financial statements.

Note 10

| General & Administrative Expenses | Amount |
| --- | --- |
| Finance Cost | 1,892 |
| IT, Software & Subscriptions | 4,444 |
| Office Supplies & Expenses | 1,102 |
| Other Misc. Expenses | 2,011 |
| Salaries & Wages | 43,478 |
| Stripe Fees | 1,612 |
| Travel | 340 |
| Total | 54,879 |

Note 11

| Selling & Marketing Expenses | Amount |
| --- | --- |
| Advertisement & Marketing | 1,728 |
| Total | 1,728 |

Note 12

| Other Incomes | Amount |
| --- | --- |
| Discounts, Refunds & Credits | - |
| Total | - |

Note 13

Date of Authorization of Financial Statements

These financial statements were authorized for issue on _______________ by the Board of Directors.

Note 14

General

Figures have been rounded off to the nearest dollar.

Accounts Manager

Muhammad Arsalan

Chief Executive Officer

Justin Smith

# Audited Financials

Final Audit Report

2022-12-14

| Created: | 2022-12-14 |
| --- | --- |
| By: | Justin Smith (justinbriansmith@student.fullsail.edu) |
| Status: | Signed |
| Transaction ID: | CBJCHBCAABAAYuv3wXaMzruvUBogiaj33pwj5pDIMBb- |

## "Audited Financials" History

Document created by Justin Smith (justinbriansmith@student.fullsail.edu)

2022-12-14 - 1:58:16 AM GMT- IP address: 104.52.118.169

Document emailed to ceo@contractorplus.app for signature

2022-12-14 - 2:03:50 AM GMT

Email viewed by ceo@contractorplus.app

2022-12-14 - 2:03:55 AM GMT- IP address: 74.125.212.216

Signer ceo@contractorplus.app entered name at signing as Justin Smith

2022-12-14 - 2:07:27 AM GMT- IP address: 104.52.118.169

Document e-signed by Justin Smith (ceo@contractorplus.app)

Signature Date: 2022-12-14 - 2:07:29 AM GMT - Time Source: server- IP address: 104.52.118.169

Document emailed to accounting@contractorplus.app for signature

2022-12-14 - 2:07:31 AM GMT

Email viewed by accounting@contractorplus.app

2022-12-14 - 2:07:33 AM GMT- IP address: 74.125.150.38

Signer accounting@contractorplus.app entered name at signing as Muhammad Arsalan

2022-12-14 - 2:11:16 AM GMT- IP address: 101.53.236.89

Document e-signed by Muhammad Arsalan (accounting@contractorplus.app)

Signature Date: 2022-12-14 - 2:11:18 AM GMT - Time Source: server- IP address: 101.53.236.89

Agreement completed.

2022-12-14 - 2:11:18 AM GMT

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

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** Contractor Plus, Inc.

**Legal Status:** Corporation

**Jurisdiction of Incorporation/Organization:** DE

**Date of Organization:** 02-01-2020

**Physical Address:** 1317 Edgewater Drive, Orlando, FL, 32804

**Issuer Website:** https://contractorplus.app

**Is there a Co-Issuer?:** Yes

**Intermediary Name:** Wefunder Portal LLC

**Intermediary CIK:** 0001670254

**Intermediary File Number:** 007-00033

**Intermediary CRD Number:** 283503

### Offering Information

**Compensation to Intermediary:** 6.5% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.

**Financial Interest in Issuer:** No

**Type of Security Offered:** Other

**Other Description of Security:** Convertible Note

**Number of Securities Offered:** 50000

**Price per Security:** $1.00

**Method for Determining Price:** Pro-rated portion of the total principal value of $50,000; interests will be sold in increments of $1; each investment is convertible to one share of stock as described under Item 13.

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

**Oversubscription Accepted:** Yes

**Oversubscription Allocation Type:** Other

**Description of Oversubscription:** As determined by the issuer

**Maximum Offering Amount:** $380,000.00

**Deadline to Reach Target Amount:** 04-30-2023

### Annual Report Disclosure Requirements

**Current Number of Employees:** 14

**Total Assets (Most Recent Fiscal Year):** $45,815.00

**Total Assets (Prior Fiscal Year):** $558.00

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $44,416.00

**Cash & Cash Equivalents (Prior Fiscal Year):** $558.00

**Accounts Receivable (Most Recent Fiscal Year):** $1,271.00

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

**Short-Term Debt (Most Recent Fiscal Year):** $15,423.00

**Short-Term Debt (Prior Fiscal Year):** $549.00

**Long-Term Debt (Most Recent Fiscal Year):** $123,208.00

**Long-Term Debt (Prior Fiscal Year):** $7,904.00

**Revenues/Sales (Most Recent Fiscal Year):** $26,454.00

**Revenues/Sales (Prior Fiscal Year):** $340.00

**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):** $-84,924.00

**Net Income (Prior Fiscal Year):** $-7,945.00

**Jurisdictions Offered:**

ALABAMA, ALASKA, ARIZONA, ARKANSAS, CALIFORNIA, COLORADO, CONNECTICUT, DELAWARE, DISTRICT OF COLUMBIA, FLORIDA, GEORGIA, HAWAII, IDAHO, ILLINOIS, INDIANA, IOWA, KANSAS, KENTUCKY, LOUISIANA, MAINE, MARYLAND, MASSACHUSETTS, MICHIGAN, MINNESOTA, MISSISSIPPI, MISSOURI, MONTANA, NEBRASKA, NEVADA, NEW HAMPSHIRE, NEW JERSEY, NEW MEXICO, NEW YORK, NORTH CAROLINA, NORTH DAKOTA, OHIO, OKLAHOMA, OREGON, PENNSYLVANIA, RHODE ISLAND, SOUTH CAROLINA, SOUTH DAKOTA, TENNESSEE, TEXAS, UTAH, VERMONT, VIRGINIA, WASHINGTON, WEST VIRGINIA, WISCONSIN, WYOMING, B5, GU, PR, VI, 1V

### Signatures

**Issuer:** Contractor Plus, Inc.

**Signature:** Justin Smith

**Title:** CEO

---

**Signature:** Roshanlal Sethia

**Title:** CTO

**Date:** 02-28-2023

---

**Signature:** Justin Smith

**Title:** CEO

**Date:** 02-27-2023