# EDGAR Filing Document

**Accession Number:** 0001989495
**File Stem:** 0001989495-25-000003
**Filing Date:** 2025-6
**Character Count:** 17735
**Document Hash:** b2ba5639af852563bc161ab4654a578a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001989495-25-000003.hdr.sgml**: 20250602

**ACCESSION NUMBER**: 0001989495-25-000003

**CONFORMED SUBMISSION TYPE**: C-AR

**PUBLIC DOCUMENT COUNT**: 6

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250602

**DATE AS OF CHANGE**: 20250602

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Sholder, Inc.
- **CENTRAL INDEX KEY:** 0001989495

**ORGANIZATION NAME:**
- **EIN:** 863491270
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** C-AR
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-33329
- **FILM NUMBER:** 251014550

**BUSINESS ADDRESS:**
- **STREET 1:** 885 ARAPAHOE AVE
- **CITY:** BOULDER
- **STATE:** CO
- **ZIP:** 80302
- **BUSINESS PHONE:** 6282664770

**MAIL ADDRESS:**
- **STREET 1:** 885 ARAPAHOE AVE
- **CITY:** BOULDER
- **STATE:** CO
- **ZIP:** 80302

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Sholder Inc
- **DATE OF NAME CHANGE:** 20230809

### Attached PDF Documents

**Attachment 1:** `Sholder_C-AR_04.30.2025.pdf`

|  | with a sholder • 1st session free • Low session rate • EMERI, Voice-based AI tool for Elevating Mental, Emotional, & Relational Intelligence • 24/7 access to a licensed counselor via phone for in-the-moment Single Session Therapy (new provider each time) | stigma, cost, or privacy concerns. Individuals seeking to understand themselves better, observe their life from new perspectives, navigate transitions, change habits or patterns, or find new clarity or empowerment in their lives. Channel partners for high volume distribution of voluntary benefits. |
| --- | --- | --- |
| Employer-Paid Benefit | Preferred Plan includes all Consumer Membership benefits with 3 sessions included for each employee and additional sessions billed to employer or claims fund, plus a Two Hour “Intro To Sholder” team workshop to educate leadership, HR, and internal champions. Sholder 360° Plan includes Preferred Plan benefits plus a world-class EAP buyup with access to virtual & local therapy (3 sessions per incident), goal-based coaching (3 sessions per incident), work life services & coordination, and added HR support services. | Employers who recognize that the health of their organization is directly tied to the mental well-being of their team. Organizational and HR leaders who are committed to building a culture where every employee has the support they need to thrive, and are looking for solutions that meet their team members where they are - flexibly and affordably. |
| Sholder Sessions | Flexible bookings for virtual connection with a skilled, off-record provider for all matters of one’s inner life - including regulating the nervous system, processing emotions, evolving perspectives, and accessing one’s innate wisdom for empowered next steps. | Individuals seeking an alternative to clinical therapy for themselves or their family members due to stigma, cost, or privacy concerns. Individuals seeking to understand themselves better, observe their life from new perspectives, navigate transitions, change habits or patterns, or find new clarity or empowerment in their lives. |

11

12

# Competition

The U.S. behavioral health market was valued at $91 billion in 2022 with projections exceeding $132 billion by 2027. Several peer-based support platforms have entered the market in recent years such as Lifeguides, Wisdo, and Kindly Human. However, none of these brands deliver care within a specialized and consistent methodology or leverage a memorable and branded verb like ‘sholder’. They use general words to describe their providers which can have many meanings based on use case (i.e. ‘coaches’, ‘guides’, ‘listeners’, etc).

## Sholder stands out in the market as:

- Creating a new method, experience, and language for therapeutic, non-clinical connection
- The most affordable way to have a consistent, skilled relationship for emotional support
- Providing coverage across the full continuum of mental and emotional health care, from access to a voice-based AI companion for reflective self-inquiry or helpful practices to on-demand single session therapy with licensed mental health counselors by phone, while a dedicated human relationship (‘sholder’) acts as the consistent thread for every user.
- Blending research-backed techniques, technologies, and established wisdom to support nervous system regulation, unlock new insights, and awaken a sense of empowerment.
- Proactive, two-way interactions that feel organic - like a friend who’s a text or call away

# Customer Base

Currently we serve employees in 15 U.S.-based organizations along with a small base of direct-pay customers. Our corporate customers and partners leverage Sholder to close the gap in their current mental health offerings, and we are tracking utilization up to 8x higher than traditional EAPs (Employee Assistance Programs). We are currently contracting with more employers directly, in addition to new channel partners that will enable us to reach employees with a unique voluntary benefits offering beginning in late 2025. Our direct-pay customers currently average 14 sessions each, with many taking a break when things feel stabilized or life gets too busy and coming back several weeks or months later when they want more support. 78% of our customers are female. Our average customer is currently holding 1.8 sessions per month.

13

# Intellectual Property

## Trademarks

| Registration Number | Goods / Services | Mark | File Date | Registration Date | Country |
| --- | --- | --- | --- | --- | --- |
| 7444107 | IC 009: Computer software platforms, downloadable, for use as an application programming interface (API); | Sholder | Feb. 08, 2022 | July 09, 2024 | USA |
| 6908252 | IC 041: Coaching in the field of mental wellbeing, psychological support, emotion processing, and personal transformation... | Sholder | May 02, 2021 | Nov. 22, 2022 | USA |
| 7444107 | IC 042: Application service provider (ASP) featuring software for use... | Sholder | Feb. 08, 2022 | July 09, 2024 | USA |
| 7444107 | IC 044: Counseling in the field of mental health and wellness... | Sholder | Feb. 08, 2022 | Jul. 09, 2024 | USA |
| 7444102 | IC 035: Advertising services; Advertising, marketing and promotion... | Spaceholder | Feb. 03, 2022 | Jul. 09, 2024 | USA |

14

| 7031876 | IC 041: Coaching in the field of mental wellbeing, psychological support, emotion processing, and personal transformation... | Spaceholder | May 02, 2021 | Apr. 18, 2023 | USA |
| --- | --- | --- | --- | --- | --- |
| 7214369 | IC 042: Application service provider (ASP) featuring software for use... | Spaceholder | Feb. 04, 2022 | Nov. 07, 2023 | USA |
| 7109291 | IC 044: Counseling in the field of mental health and wellness... | Spaceholder | Feb. 03, 2022 | Jul. 11, 2023 | USA |

The company holds copyrights on The Sholder Method and all related training materials.

## Governmental/Regulatory Approval and Compliance

The Company is subject to and affected by the laws and regulations of U.S. federal, state and local governmental authorities. These laws and regulations are subject to change.

## Litigation

The Company is not subject to any current litigation or threatened litigation.

## Other

The Company’s principal address is 885 Arapahoe Ave, Ste 30, Boulder, CO 80302.

## DIRECTORS, OFFICERS AND EMPLOYEES

## Directors of the Company

The directors or managers of the Company are listed below along with all positions and offices held at the Company and their principal occupation and employment responsibilities for the past three (3) years and their educational background and qualifications.

15

Name
Rett Kearbey

All positions and offices held with the Company and date such position(s) was held with start and ending dates:
Founder and CEO: 2021-Present
Director: 2021-Present

Principal occupation and employment responsibilities during at least the last three (3) years with start and ending dates
Sholder Inc., Founder and CEO: 2021-Present

Education
University of Alabama at Birmingham, Business Management

Name
Mark Dacy

All positions and offices held with the Company and date such position(s) was held with start and ending dates:
Co-Founder and Chief Experience Officer: 2021-Present
Director: 2024-Present

Principal occupation and employment responsibilities during at least the last three (3) years with start and ending dates
Sholder Inc., Co-Founder and Chief Experience Officer: 2021-Present

Education
Emory University, Accounting
University of Florida, MS, Tax Law / Taxation
University of Florida, Juris Doctor

Officers of the Company
The officers of the Company are listed below along with all positions and offices held at the Company and their principal occupation and employment responsibilities for the past three (3) years and their educational background and qualifications.

16

Name
Rett Kearbey

All positions and offices held with the Company and date such position(s) was held with start and ending dates:
Founder and CEO: 2021-Present
Director: 2021-Present

Principal occupation and employment responsibilities during at least the last three (3) years with start and ending dates
Sholder Inc., Founder and CEO: 2021-Present

Education
University of Alabama at Birmingham, Business Management

Name
Mark Dacy

All positions and offices held with the Company and date such position(s) was held with start and ending dates:
Co-Founder and Chief Experience Officer: 2021-Present
Director: 2024-Present

Principal occupation and employment responsibilities during at least the last three (3) years with start and ending dates
Sholder Inc., Co-Founder and Chief Experience Officer: 2021-Present

Education
Emory University, Accounting
University of Florida, MS, Tax Law / Taxation
University of Florida, Juris Doctor

Name
Austin Baker

All positions and offices held with the Company and date such position(s) was held with start and ending dates:
Chief Growth Officer: 2024-Present

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

Sholder Inc., Chief Growth Officer: 2024-Present

Education

University of Memphis, Business Management

Indemnification

Indemnification is authorized by the Company to directors, officers or controlling persons acting in their professional capacity pursuant to Colorado law. Indemnification includes expenses such as attorney's fees and, in certain circumstances, judgments, fines and settlement amounts actually paid or incurred in connection with actual or threatened actions, suits or proceedings involving such person, except in certain circumstances where a person is adjudged to be guilty of gross negligence or willful misconduct, unless a court of competent jurisdiction determines that such indemnification is fair and reasonable under the circumstances.

Employees of the Company

The Company currently has 0 employees.

CAPITALIZATION AND OWNERSHIP

Capitalization of the Company

As of the date of this Form C-AR, The Company has issued the following outstanding Securities:

| Type of Security | SAFE (Simple Agreement for Future Equity) |
| --- | --- |
| Amount Outstanding | $61,511.00 |
| Voting Rights | None except by SPV lead investor |
| Anti-Dilution Rights | N/A |
| How this Security may limit, dilute or qualify the Notes/Bonds issued pursuant to Regulation CF | N/A |

17

The Company has the following debt outstanding:

| Type of debt | Legal Services (deferred payments) |
| --- | --- |
| Name of creditor | Buchalter |
| Amount outstanding | $16,742.50 |
| Interest rate and payment schedule | N/A |
| Amortization schedule | N/A |
| Describe any collateral or security | N/A |
| Maturity date | N/A |
| Other material terms | N/A |

The total amount of outstanding debt of the company is $16,742.50.

The Company has conducted the following prior Securities offerings in the past three years:

| Security Type | Principal Amount of Securities Sold | Amount of Securities Issued | Use of Proceeds | Offering Date | Exemption from Registration Used or Public Offering |
| --- | --- | --- | --- | --- | --- |
| SAFE | $380,000 | Holding until conversion | R&D, Marketing, Operating Expenses, Software development | June 2022 | Section 4(a)(2) |
| SAFE | $204,500.00 | Holding until conversion | R&D, Marketing, Operating Expenses, Software development | August 2023 - February 2024 | Section 4(a)(2) |
| Convertible Note | $100,000.00 | Holding as debt until conversion | Marketing, Operating Expenses, Software development | April 2024 | Section 4(a)(2) |

19

| SAFE | $61,511.00 | Holding until conversion | Marketing, Operating Expenses, Software development | April 2024 | Regulation CF |
| --- | --- | --- | --- | --- | --- |
| SAFE | $67,500.00 | Holding until conversion | Marketing, Operating Expenses, Software development | March 2025 | Section 4(a)(2) |

## Ownership of the Company

30,000,000 shares are authorized by the company.

16,480,000 shares have been issued to founders and executive officers, subject to vesting.

2,000,000 shares have been allocated to a stock option pool.

850,000 shares have been allocated to early team members and advisors in the form of tokenized RSUs for conversion upon future landmark event.

Below the beneficial owners of 20% percent or more of the Company's outstanding voting equity securities, calculated on the basis of voting power, are listed along with the amount they own.

Rett Kearbey: 54.113% fully diluted

Mark Dacy: 23.268% fully diluted

## FINANCIAL INFORMATION

Please see the financial information listed on the cover page of this Form C-AR and attached hereto in addition to the following information. Financial statements are attached hereto as Exhibit A.

## Operations

As of April 30, 2025, the Company has been financed with $833,511.00, with $100,000.00 on a Convertible Note and $733,511.00 on SAFEs. Our equity crowdfunding campaign raised $61,511.00 with a goal of $50,000. The Company is not profitable and has an average burn rate of -$8,200 per month.

The Company intends to achieve profitability in the next 12 months by onboarding its pipeline of employer-paid benefit customers, using channel partners to sell its voluntary benefit offering through private marketplaces, and launching a direct-to-consumer membership for individuals.

20

# Cash and Cash Equivalents

Cash and cash equivalents refers to the value of a company's assets that are cash or can be converted into cash immediately.

As of April 30, 2025, the Company had an aggregate of $51,718.56 in cash and cash equivalents, leaving the Company with approximately 6 months of runway.

## Recent Tax Return Information (2023)

| Total Income | Taxable Income | Total Tax |
| --- | --- | --- |
| $19,176.38 | $ -201,637.25 | $0 |

## Liquidity and Capital Resources

On May 10, 2024, the Company completed an offering pursuant to Regulation CF and raised $61,511.00.

Outside of the equity crowdfunding offering, the company is in active discussions with angel investors to complete its current SAFE offering prior to September 2025.

## Capital Expenditures and Other Obligations

The Company does not intend to make any material capital expenditures in the future.

## Material Changes and Other Information

### Trends and Uncertainties

After reviewing the above discussion of the steps the Company intends to take, potential Investors should consider whether achievement of each step within the estimated time frame will be realistic in their judgment. Potential investors should also assess the consequences to the Company of any delays in taking these steps and whether the Company will need additional financing to accomplish them.

### Restrictions on Transfer

Any Securities sold pursuant to Regulation CF being offered may not be transferred by any Investor of such Securities during the one-year holding period beginning when the Securities

**Attachment 2:** `Sholder_PL_2023.pdf`

**Time limit hit – remaining pages or documents were skipped.**

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

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** Sholder, Inc.

**Legal Status:** Corporation

**Jurisdiction of Incorporation/Organization:** DE

**Date of Organization:** 04-27-2021

**Physical Address:** 885 ARAPAHOE AVE, BOULDER, CO, 80302

**Issuer Website:** sholder.com

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

### Annual Report Disclosure Requirements

**Current Number of Employees:** 0.00

**Total Assets (Most Recent Fiscal Year):** $47,452.43

**Total Assets (Prior Fiscal Year):** $59,328.31

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $12,233.47

**Cash & Cash Equivalents (Prior Fiscal Year):** $36,416.12

**Accounts Receivable (Most Recent Fiscal Year):** $4,287.00

**Accounts Receivable (Prior Fiscal Year):** $1,919.00

**Short-Term Debt (Most Recent Fiscal Year):** $-12,406.63

**Short-Term Debt (Prior Fiscal Year):** $28,200.35

**Long-Term Debt (Most Recent Fiscal Year):** $802,992.79

**Long-Term Debt (Prior Fiscal Year):** $564,500.00

**Revenues/Sales (Most Recent Fiscal Year):** $81,749.39

**Revenues/Sales (Prior Fiscal Year):** $19,176.38

**Cost of Goods Sold (Most Recent Fiscal Year):** $45,188.00

**Cost of Goods Sold (Prior Fiscal Year):** $17,191.72

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

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

**Net Income (Most Recent Fiscal Year):** $-207,595.85

**Net Income (Prior Fiscal Year):** $-201,637.25

### Signatures

**Issuer:** Sholder, Inc.

**Signature:** Rett Kearbey

**Title:** CEO

---

**Signature:** Rett Kearbey

**Title:** CEO

**Date:** 04-30-2025