# EDGAR Filing Document

**Accession Number:** 0001745032
**File Stem:** 0001745032-23-000001
**Filing Date:** 2023-3
**Character Count:** 33414
**Document Hash:** a1dcb80a08a634d266d64da00b14048c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001745032-23-000001.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001745032-23-000001

**CONFORMED SUBMISSION TYPE**: D/A

**PUBLIC DOCUMENT COUNT**: 1

**ITEM INFORMATION**: <ITEMS>06b

**ITEM INFORMATION**: Investment Company Act Section 3(c)

**ITEM INFORMATION**: Section 3(c)(5)

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230327

**EFFECTIVENESS DATE**: 20230328

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lodging Fund REIT III, Inc.
- **CENTRAL INDEX KEY:** 0001745032
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 830556111
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** D/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 021-317578
- **FILM NUMBER:** 23765802

**BUSINESS ADDRESS:**
- **STREET 1:** 1635 43RD STREET SOUTH, SUITE 205
- **CITY:** FARGO
- **STATE:** ND
- **ZIP:** 58103
- **BUSINESS PHONE:** (701)630-6500

**MAIL ADDRESS:**
- **STREET 1:** 1635 43RD STREET SOUTH, SUITE 205
- **CITY:** FARGO
- **STATE:** ND
- **ZIP:** 58103

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

## FORM D

### Notice of Exempt Offering of Securities

**Notice of Amendment** (Previous Accession Number: 0001745032-21-000002)

### 1. Issuer's Identity

**CIK (Filer ID Number):** 0001745032

**Name of Issuer:** Lodging Fund REIT III, Inc.

**Jurisdiction of Incorporation/Organization:** MARYLAND

**Previous Names:** None

**Year of Incorporation/Organization**

- [ ] Over Five Years Ago

- [x] Within Last Five Years (Specify Year) 2018

- [ ] Yet to Be Formed

**Entity Type**

- [x] Corporation

- [ ] Limited Partnership

- [ ] Limited Liability Company

- [ ] General Partnership

- [ ] Business Trust

- [ ] Other

### 2. Principal Place of Business and Contact Information

**Name of Issuer:** Lodging Fund REIT III, Inc.

**Street Address 1:** 1635 43RD STREET SOUTH, SUITE 205

**City:** FARGO

**State/Province/Country:** ND

**ZIP/Postal Code:** 58103

**Phone Number of Issuer:** (701)630-6500

### 3. Related Persons

| Last Name                       | First Name                      | Street Address 1                  | City   | State   |   ZIP/Postal Code | Relationship                                          | Clarification of Response                          |
|:---|:---|:---|:---|:---|---:|:---|:---|
| Maple                           | Corey R.                        | 1635 43rd Street South, Suite 205 | Fargo  | ND      |             58103 | [x] Executive Officer<br>[x] Director<br>[ ] Promoter | Chairman of Board, CEO & Secretary of the Issuer   |
| Leslie                          | Norman H.                       | 1635 43rd Street South, Suite 205 | Fargo  | ND      |             58103 | [x] Executive Officer<br>[x] Director<br>[ ] Promoter | President & Chief Investment Officer of the Issuer |
| Montgomery                      | Samuel                          | 1635 43rd Street South, Suite 205 | Fargo  | ND      |             58103 | [x] Executive Officer<br>[ ] Director<br>[ ] Promoter | Chief Financial Officer of the Issuer              |
| Ekman                           | David G.                        | 1635 43rd Street South, Suite 205 | Fargo  | ND      |             58103 | [ ] Executive Officer<br>[x] Director<br>[ ] Promoter |  |
| Rynders                         | Perry M.                        | 1635 43rd Street South, Suite 205 | Fargo  | ND      |             58103 | [ ] Executive Officer<br>[x] Director<br>[ ] Promoter |  |
| Leighton                        | Jeffrey T.                      | 1635 43rd Street South, Suite 205 | Fargo  | ND      |             58103 | [ ] Executive Officer<br>[x] Director<br>[ ] Promoter |  |
| Legendary Capital REIT III, LLC | Legendary Capital REIT III, LLC | 1635 43rd Street South, Suite 205 | Fargo  | ND      |             58103 | [ ] Executive Officer<br>[ ] Director<br>[x] Promoter |  |

### 4. Industry Group

| | | |
|:---|:---|:---|
| [ ] Agriculture | [ ] Health Care | [ ] Retailing |
| [ ] Banking & Financial Services | [ ] Biotechnology | [ ] Restaurants |
|   [ ] Commercial Banking | [ ] Health Insurance | [ ] Technology |
|   [ ] Insurance | [ ] Hospitals & Physicians |   [ ] Computers |
|   [ ] Investing | [ ] Pharmaceuticals |   [ ] Telecommunications |
|   [ ] Investment Banking | [ ] Other Health Care |   [ ] Other Technology |
|   [ ] Pooled Investment Fund | [ ] Manufacturing | [ ] Travel |
|     [ ] Hedge Fund | [ ] Real Estate |   [ ] Airlines & Airports |
|     [ ] Private Equity Fund |   [ ] Commercial |   [ ] Lodging & Conventions |
|     [ ] Venture Capital Fund |   [ ] Construction |   [ ] Tourism & Travel Services |
|     [ ] Other Investment Fund |   [x] REITS & Finance |   [ ] Other Travel |
|   Is the issuer registered as an investment company? <br>  [ ] Yes [ ] No |   [ ] Residential | [ ] Other |
|   [ ] Other Banking & Financial Services |   [ ] Other Real Estate |  |
| [ ] Business Services |  |  |
| [ ] Energy |  |  |
|   [ ] Coal Mining |  |  |
|   [ ] Electric Utilities |  |  |
|   [ ] Energy Conservation |  |  |
|   [ ] Environmental Services |  |  |
|   [ ] Oil & Gas |  |  |
|   [ ] Other Energy |  |  |

### 5. Issuer Size

| **Revenue Range** | **OR** | **Aggregate Net Asset Value Range** |
|:---|:---:|:---|
| [ ] No Revenues | | [ ] No Aggregate Net Asset Value |
| [ ] $1 - $1,000,000 | | [ ] $1 - $5,000,000 |
| [ ] $1,000,001 - $5,000,000 | | [ ] $5,000,001 - $25,000,000 |
| [ ] $5,000,001 - $25,000,000 | | [ ] $25,000,001 - $50,000,000 |
| [ ] $25,000,001 - $100,000,000 | | [ ] $50,000,001 - $100,000,000 |
| [ ] Over $100,000,000 | | [ ] Over $100,000,000 |
| [x] Decline to Disclose | | [ ] Decline to Disclose |
| [ ] Not Applicable | | [ ] Not Applicable |

### 6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)

| | | |
|:---|:---|:---|
| [ ] Rule 504(b)(1) (not (i), (ii) or (iii)) | [x] Investment Company Act Section 3(c) |  |
| [ ] Rule 504(b)(1)(i) |   [ ] Section 3(c)(1) |  |
| [ ] Rule 504(b)(1)(ii) |   [ ] Section 3(c)(2) |   [ ] Section 3(c)(9) |
| [ ] Rule 504(b)(1)(iii) |   [ ] Section 3(c)(3) |   [ ] Section 3(c)(10) |
| [x] Rule 506(b) |   [ ] Section 3(c)(4) |   [ ] Section 3(c)(11) |
| [ ] Rule 506(c) |   [x] Section 3(c)(5) |   [ ] Section 3(c)(12) |
| [ ] Securities Act Section 4(5) |   [ ] Section 3(c)(6) |   [ ] Section 3(c)(13) |
|  |   [ ] Section 3(c)(7) |   [ ] Section 3(c)(14) |

### 7. Type of Filing

**New Notice:** [ ] **Date of First Sale:** 2018-07-26

**Amendment:** [x]

### 8. Duration of Offering

Does the issuer intend this offering to last more than one year? [x] Yes [ ] No

### 9. Type(s) of Securities Offered

- [x] Equity
- [ ] Debt
- [ ] Option, Warrant or Other Right to Acquire Another Security
- [ ] Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Security
- [ ] Pooled Investment Fund Interests
- [ ] Tenant-in-Common Securities
- [ ] Mineral Property Securities
- [ ] Other

### 10. Business Combination Transaction

Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer? [ ] Yes [x] No

### 11. Minimum Investment
**Minimum investment accepted from any outside investor:** $5000 USD

### 12. Sales Compensation

| Recipient Name                               |   Recipient CRD Number | Associated BD Name                       | Associated BD CRD Number   | Street 1                                 | Street 2   | City               | State   |   ZIP Code | States of Solicitation   | Foreign Solicitation   |
|:---|---:|:---|:---|:---|:---|:---|:---|---:|:---|:---|
| Advisory Group Equity Services Ltd.          |                  15427 | None                                     | None                       | 444 Washington St, Ste 407               |  | Woburn             | MA      |      01801 | All States               | [ ]                    |
| Rodney Bahy Ibrahim                          |                4358176 | Aegis Capital Corp.                      | 15007                      | 40 Wall Street, 46th Floor               |  | New York           | NY      |      10005 |  | [ ]                    |
| Jason Bryce Vanclef                          |                5096529 | American Trust Investment Services, Inc. | 3001                       | 8107 Loyola Boulevard                    |  | Los Angeles        | CA      |      90045 |  | [ ]                    |
| Ausdal Financial Partners, Inc.              |                   7995 | None                                     | None                       | 5187 Utica Ridge Rd.                     |  | Davenport          | IA      |      52807 | All States               | [ ]                    |
| Calton & Associates, Inc.                    |                  20999 | None                                     | None                       | 2701 N. Rocky Point Drive, Suite 1000    |  | Tampa              | FL      |      33607 | All States               | [ ]                    |
| Peter Raymond Dorn                           |                1089858 | Cape Securities Inc.                     | 7072                       | 1600 Pennsylvania Avenue                 |  | McDonough          | GA      |      30253 |  | [ ]                    |
| Center Street Securities, Inc.               |                  26898 | None                                     | None                       | 2 International Plaza, Suite 301         |  | Nashville          | TN      |      37217 | All States               | [ ]                    |
| Crown Capital Securities, L.P.               |                   6312 | None                                     | None                       | 725 Town & Country Road, Suite 530       |  | Orange             | CA      |      92868 |  | [ ]                    |
| D.H. Hill Securities, LLLP                   |                  41528 | None                                     | None                       | 1543 Green Oak Place, Suite 100          |  | Kingwood           | TX      |      77339 |  | [ ]                    |
| James Thomas Manning                         |                4395898 | Great Point Capital LLC                  | 114203                     | 12515 Research Blvd, Bldg 7, Ste 360     |  | Austin             | TX      |      78759 |  | [ ]                    |
| Todd Robert Rhine                            |                2384366 | IBN Financial Services, Inc.             | 42360                      | 7 Finch Street                           |  | Hilton Head Island | SC      |      29926 |  | [ ]                    |
| Samuel Scott Bianchi                         |                3036667 | IBN Financial Services, Inc.             | 42360                      | 404 Old Liverpool Road                   |  | Liverpool          | NY      |      13088 |  | [ ]                    |
| Cheryl Lynn Romann                           |                3163696 | Intercarolina Financial Services, Inc.   | 19475                      | 3300 Battleground Avenue, Suite 400      |  | Greensboro         | NC      |      27410 |  | [ ]                    |
| Joseph Eugene Navolanic                      |                 727399 | Intercarolina Financial Services, Inc.   | 19475                      | 3300 Battleground Avenue, Suite 400      |  | Greensboro         | NC      |      27410 |  | [ ]                    |
| International Assets Advisory, LLC           |                  10645 | None                                     | None                       | 390 North Orange Avenue, Suite 750       |  | Orlando            | FL      |      32801 | All States               | [ ]                    |
| David Wayne Ruths Jr.                        |                4067433 | Investment Planners, Inc.                | 18557                      | 100 E. Walton Street, Suite #40D         |  | Chicago            | IL      |      60611 |  | [ ]                    |
| Andrew Charles Butler                        |                5242668 | Investment Security Corporation          | 47536                      | 7240 S Highland Drive, Suite 103         |  | Salt Lake City     | UT      |      84121 |  | [ ]                    |
| John Marvin Butler                           |                1951436 | Investment Security Corporation          | 47536                      | 7240 S Highland Drive, Suite 103         |  | Salt Lake City     | UT      |      84121 |  | [ ]                    |
| Bradley Lawrence Curtis                      |                5422029 | JRL Capital Corporation                  | 10225                      | 23121 Verdugo Drive, Suite 205           |  | Laguna Hills       | CA      |      92653 |  | [ ]                    |
| Curtis Jerome Sathre III                     |                2459115 | JRL Capital Corporation                  | 10225                      | 23121 Verdugo Drive, Suite 205           |  | Laguna Hills       | CA      |      92653 |  | [ ]                    |
| George B. McGehee                            |                 327566 | JRL Capital Corporation                  | 10225                      | 172981 Irvine Boulevard, Suite 157       |  | Tustin             | CA      |      92780 |  | [ ]                    |
| Chris Fess                                   |                1335361 | KCD Financial, Inc.                      | 127473                     | 2595 Dallas Parkway, Suite 450           |  | Frisco             | TX      |      75034 |  | [ ]                    |
| Duane Timothy Shoop                          |                1396302 | KCD Financial, Inc.                      | 127473                     | 8314 E. Quiet Canyon Court               |  | Anaheim Hills      | CA      |      92808 |  | [ ]                    |
| George Peter Koulouris                       |                1059875 | KCD Financial, Inc.                      | 127473                     | 210 Fayette Street                       |  | Manlius            | NY      |      13066 |  | [ ]                    |
| Timothy William Steffen                      |                1953542 | KCD Financial, Inc.                      | 127473                     | 14965 Evergreen Road                     |  | Bowler             | WI      |      54416 |  | [ ]                    |
| Arthur John Ellis                            |                6167121 | Landolt Securities, Inc.                 | 28352                      | 41412 N. Highway 83                      |  | Antioch            | IL      |      60002 |  | [ ]                    |
| Bo Wang                                      |                2394019 | Landolt Securities, Inc.                 | 28352                      | 27 Bleeker Street, Suite 229             |  | Millburn           | NJ      |      07041 |  | [ ]                    |
| Mike Sebald                                  |                1426782 | Landolt Securities, Inc.                 | 28352                      | 41412 N. Highway 83                      |  | Antioch            | IL      |      60002 |  | [ ]                    |
| Tingkuo Daniel Chen                          |                2394916 | Landolt Securities, Inc.                 | 28352                      | 12900 Preston Road, Suite 700            |  | Dallas             | TX      |      75230 |  | [ ]                    |
| G. Anthony Harrigan                          |                1817525 | Lion Street Financial, LLC               | 165828                     | 4770 Baseline Road, Suite 380            |  | Boulder            | CO      |      80303 |  | [ ]                    |
| James Bradley Teegarden                      |                2812366 | Lion Street Financial, LLC               | 165828                     | 4770 Baseline Road, Suite 380            |  | Boulder            | CO      |      80303 |  | [ ]                    |
| Paul S. Lee                                  |                5541067 | Mirae Asset Wealth Management (USA) Inc. | 147991                     | 3701 Wilshire Blvd., Suite 101           |  | Los Angeles        | CA      |      90010 |  | [ ]                    |
| Money Concepts Capital Corp                  |                  12963 | None                                     | None                       | 11440 North Jog Road                     |  | Palm Beach Gardens | FL      |      33418 | All States               | [ ]                    |
| David Robert Zoellner Sr.                    |                2094698 | Newbridge Securities Corporation         | 104065                     | 7655 Highland Road, Suite 203            |  | Waterford          | MI      |      48327 |  | [ ]                    |
| John Eugene Egan                             |                 818750 | Newbridge Securities Corporation         | 104065                     | 1200 North Federal Highway, Suite 400    |  | Boca Raton         | FL      |      33432 |  | [ ]                    |
| Michael Leonard Whitaker                     |                1739854 | Newbridge Securities Corporation         | 104065                     | 13940 Hwy 441, Suite 207                 |  | The Villages       | FL      |      32159 |  | [ ]                    |
| Peter L. Goffin                              |                1617710 | Newbridge Securities Corporation         | 104065                     | 7700 Congress Avenue, Suite 1123         |  | Boca Raton         | FL      |      33487 |  | [ ]                    |
| Philip Behram Antia                          |                2187727 | Newbridge Securities Corporation         | 104065                     | 1200 North Federal Highway, Suite 400    |  | Boca Raton         | FL      |      33432 |  | [ ]                    |
| Bo Wang                                      |                2394019 | NI Advisors                              | 134502                     | 17 Canoe Brook Drive                     |  | Livingston         | NJ      |      07039 |  | [ ]                    |
| Juan Hua Liang                               |                6860076 | NI Advisors                              | 134502                     | 347 Gellert Boulevard, Suite M           |  | Daly City          | CA      |      94015 |  | [ ]                    |
| Shirley Ank Wong                             |                4869184 | NI Advisors                              | 134502                     | 333 Gellert Blvd., Suite 201             |  | Daly City          | CA      |      94015 |  | [ ]                    |
| Suihock Goy                                  |                2821380 | NI Advisors                              | 134502                     | 1138 Cadillac Court                      |  | Milpitas           | CA      |      95035 |  | [ ]                    |
| Parkland Securities, LLC                     |                 115368 | None                                     | None                       | 300 Parkland Plaza                       |  | Ann Arbor          | MI      |      48103 | All States               | [ ]                    |
| Gregory Allen Baldwin                        |                1476397 | Purshe Kaplan Sterling Investments       | 35747                      | 8800 SE Sunnyside Road, Suite 213N       |  | Clackamas          | OR      |      97015 |  | [ ]                    |
| Martin Geddes Hurlburt                       |                2290027 | Purshe Kaplan Sterling Investments       | 35747                      | 285 E. 950 South                         |  | Orem               | UT      |      84058 |  | [ ]                    |
| Ross Edwin Carson                            |                4484587 | Purshe Kaplan Sterling Investments       | 35747                      | 6465 N. Quail Hollow Road, Suite 200     |  | Memphis            | TN      |      38120 |  | [ ]                    |
| Vicki Renee McConnell                        |                2113262 | Purshe Kaplan Sterling Investments       | 35747                      | 312 W. Idaho Street                      |  | Boise              | ID      |      83702 |  | [ ]                    |
| Sigma Financial Corporation                  |                  14303 | None                                     | None                       | 300 Parkland Plaza                       |  | Ann Arbor          | MI      |      48103 | All States               | [ ]                    |
| Martin Allan Barth                           |                1030462 | SW Financial                             | 145012                     | 1295 Walt Whitman Road, Suite A          |  | Melville           | NY      |      11747 |  | [ ]                    |
| Emmet Francis Martin Sr.                     |                3053367 | Trustmont Financial Group, Inc.          | 18312                      | 501 West Butler Road, Suite A            |  | Greenville         | SC      |      29607 |  | [ ]                    |
| Klaus Dieter Kurt Schoening Sr.              |                 414748 | Trustmont Financial Group, Inc.          | 18312                      | 200 Brush Run Road, Suite A              |  | Greensburg         | PA      |      15601 |  | [ ]                    |
| William Christopher Johnston IV              |                1051009 | Trustmont Financial Group, Inc.          | 18312                      | 200 Brush Run Road, Suite A              |  | Greensburg         | PA      |      15601 |  | [ ]                    |
| Milton Joseph Beile III                      |                4265262 | Vestech Securities, Inc.                 | 41409                      | 1138 Cadillac Court                      |  | Milpitas           | CA      |      95035 |  | [ ]                    |
| Mohamed Eldawy                               |                6489642 | Vestech Securities, Inc.                 | 41409                      | 12 Greenway Plaza, Suite 1100            |  | Houston            | TX      |      77046 |  | [ ]                    |
| Western International Securities, Inc.       |                  39262 | None                                     | None                       | 70 S. Lake Avenue, Suite 700             |  | Pasadena           | CA      |      91101 | All States               | [ ]                    |
| Christopher Michael Dukes                    |                4712873 | Westpark Capital, Inc.                   | 39914                      | 650 S. Westlake Boulevard, Suite 205     |  | Thousand Oaks      | CA      |      91362 |  | [ ]                    |
| Edwin Tomohiro Suzuki                        |                4851317 | Westpark Capital, Inc.                   | 39914                      | 1600 Dove Street, Suite 250              |  | Newport Beach      | CA      |      92660 |  | [ ]                    |
| Jason Bryce Vanclef                          |                5096529 | Westpark Capital, Inc.                   | 39914                      | 8107 Loyola Blvd                         |  | Los Angeles        | CA      |      90045 |  | [ ]                    |
| Patrick Morehead                             |                6661646 | Westpark Capital, Inc.                   | 39914                      | 8107 Loyola Blvd                         |  | Los Angeles        | CA      |      90045 |  | [ ]                    |
| Sheldon Singleton                            |                2060931 | Westpark Capital, Inc.                   | 39914                      | 8107 Loyola Blvd                         |  | Los Angeles        | CA      |      90045 |  | [ ]                    |
| Kevin Lloyd Myers                            |                1213557 | American Global Wealth Management, Inc.  | 7388                       | 1600 Pennsylvania Avenue                 |  | McDonough          | GA      |      30253 |  | [ ]                    |
| American Portfolios Financial Services, Inc. |                  18487 | None                                     | None                       | 4250 Veterans Memorial Hwy, 4th Flr East |  | Holbrook           | NY      |      11741 | All States               | [ ]                    |
| John T. Sunderland                           |                2650445 | Fairview Securities, Inc.                | 35703                      | 154 Long Lots Road                       |  | Westport           | CT      |      06880 |  | [ ]                    |
| Kenneth Zupo                                 |                4509502 | Whitehall-Parker Securities Inc.         | 10608                      | 1990 N. California Blvd, 8th Floor       |  | Walnut Creek       | CA      |      94596 |  | [ ]                    |
| Eric R Moore                                 |                5493237 | Peak Brokerage Services, LLC             | 157045                     | 1070 East Indiantown Rd, Suite 208-210   |  | Jupiter            | FL      |      33477 |  | [ ]                    |
| DANIEL CORAL GOODWIN                         |                5752768 | AAG CAPITAL, INC.                        | 188                        | 25511 Budde Road, Suite 1002             |  | The Woodlands      | TX      |      77380 |  | [x]                    |
| AGES FINANCIAL SERVICES, LTD.                |                  15427 | None                                     | None                       | 444 WASHINGTON STREET, SUITE 407         |  | WOBURN             | MA      |      01801 | All States               | [x]                    |
| ROGER ALLAN ROEMMICH                         |                1293322 | ALEXANDER CAPITAL, L.P.                  | 40077                      | 9040 Roswell Road, Suite 350             |  | Atlanta            | GA      |      30350 |  | [ ]                    |
| KEVIN L MYERS                                |                1213557 | CAPE SECURITIES INC                      | 7072                       | 1600 Pennsylvania Avenue                 |  | McDonough          | GA      |      30253 |  | [ ]                    |
| GREGORY GASTON GIBSON                        |                1694647 | DEMPSEY LORD SMITH, LLC                  | 141238                     | 439 Congaree Road, Congaree Suites       |  | Greenville         | SC      |      29607 |  | [ ]                    |
| HARRY TIMOTHY COUCH                          |                4073942 | DEMPSEY LORD SMITH, LLC                  | 141238                     | 900 Old Dawson Village, Road East        | Suite 110  | Dawsonville        | GA      |      30534 |  | [ ]                    |
| PETER SCIDA                                  |                1775245 | IBN FINANCIAL SERVICES, INC.             | 42360                      | 24 East Cota Street, Suite 200           |  | Santa Barbara      | CA      |      93101 |  | [ ]                    |
| ANNA MARIE OCAMPO LOVELL                     |                5498414 | INFINITY FINANCIAL SERVICES              | 144302                     | 4275 Executive Square, Suite 200         |  | La Jolla           | CA      |      92037 |  | [ ]                    |
| MARK ANGELO ALEMAN                           |                2922342 | INFINITY FINANCIAL SERVICES              | 144302                     | 3404 Fillmore Street                     |  | Riverside          | CA      |      92503 |  | [ ]                    |
| KRISTIN MARIE PEARSON                        |                4522677 | INVICTA CAPITAL LLC                      | 288101                     | 2790 Mosside Boulevard, Suite 530        |  | Monroeville        | PA      |      15146 |  | [ ]                    |
| STEPHEN WAYNE WINGARD                        |                2746603 | LION STREET FINANCIAL, LLC               | 65828                      | 13155 Noel Road, Suite 900               |  | Dallas             | TX      |      75240 |  | [ ]                    |
| HONGFANG ZHANG                               |                6946540 | NI ADVISORS                              | 134502                     | 7 Charter Court                          |  | Basking Ridge      | NJ      |      07920 |  | [ ]                    |
| GREGORY LOUIS SCHORP                         |                2858951 | PEAK BROKERAGE SERVICES, LLC             | 157045                     | 401 Isom Road, Suite 205                 |  | San Antonio        | TX      |      78216 |  | [ ]                    |
| CHARLES A MASSIE                             |                4801524 | PEAK BROKERAGE SERVICES, LLC             | 157045                     | 15961 McGregor Blvd, Suite 2             |  | Fort Myers         | FL      |      33908 |  | [ ]                    |
| BRYAN K KAARLSEN                             |                2447417 | PEAK BROKERAGE SERVICES, LLC             | 157045                     | 401 Isom Road, Suite 205                 |  | San Antonio        | TX      |      78216 |  | [ ]                    |
| OMAR R SHALABI                               |                2777244 | PEAK BROKERAGE SERVICES, LLC             | 157045                     | 2026 Assembly Street, Suite 203          |  | Columbia           | SC      |      29201 |  | [ ]                    |
| THE M & A GROUP LLC                          |                 144909 | None                                     | None                       | 900 IDS Center, 80 South 8th Street      |  | Minneapolis        | MN      |      55402 |  | [ ]                    |

### 13. Offering and Sales Amounts

**Total Offering Amount:** $100,000,000 USD

**Total Amount Sold:** $87,430,746 USD

**Total Remaining to be Sold:** $12,569,254 USD

### 14. Investors

Select if securities in the offering have been or may be sold to persons who do not qualify as accredited investors, and enter the number of such non-accredited investors who already have invested in the offering: [ ] Yes [x] No

**Total Number of Investors Already Invested:** 1368

### 15. Sales Commissions & Finder's Fees Expenses

Provide separately the amounts of sales commissions and finders fees expenses, if any. If the amount of an expenditure is not known, provide an estimate and check the box next to the amount.

**Sales Commissions** $5302325 USD [x] Estimate

**Finders' Fees** $0 USD

### 16. Use of Proceeds

Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters: **$0 USD**

### Signature and Submission

Please verify the information you have entered and review the Terms of Submission below before signing and clicking SUBMIT below to file this notice.

**Terms of Submission**

In submitting this notice, each issuer named above is:

* Notifying the SEC and/or each State in which this notice is filed of the offering of securities described and undertaking to furnish them, upon written request, in the accordance with applicable law, the information furnished to offerees.

* Irrevocably appointing each of the Secretary of the SEC and, the Securities Administrator or other legally designated
officer of the State in which the issuer maintains its principal place of business and any State in which this notice is
filed, as its agents for service of process, and agreeing that these persons may accept service on its behalf, of any
notice, process or pleading, and further agreeing that such service may be made by registered or certified mail, in any
Federal or state action, administrative proceeding, or arbitration brought against the issuer in any place subject to
the jurisdiction of the United States, if the action, proceeding or arbitration (a) arises out of any activity in
connection with the offering of securities that is the subject of this notice, and (b) is founded, directly or
indirectly, upon the provisions of: (i) the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust
Indenture Act of 1939, the Investment Company Act of 1940, or the Investment Advisers Act of 1940, or any rule or
regulation under any of these statutes, or (ii) the laws of the State in which the issuer maintains its principal place
of business or any State in which this notice is filed.

* Certifying that, if the issuer is claiming a Regulation D exemption for the offering, the issuer is not disqualified from relying on Rule 504 or Rule 506 for one of the reasons stated in Rule 504(b)(3) or Rule 506(d).

Each issuer identified above has read this notice, knows the contents to be true, and has duly caused this notice to be signed on its behalf by the undersigned duly authorized person.

For signature, type in the signer's name or other letters or characters adopted or authorized as the signer's signature.

| Issuer                      | Signature      | Name of Signer   | Title                           | Date       |
|:---|:---|:---|:---|:---|
| Lodging Fund REIT III, Inc. | Corey R. Maple | Corey R. Maple   | CEO and Secretary of the Issuer | 2023-03-16 |

*Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.*