# EDGAR Filing Document

**Accession Number:** 0001960351
**File Stem:** 0001665160-23-000123
**Filing Date:** 2023-1
**Character Count:** 74281
**Document Hash:** ece2a2def701fea92d450bcc2dc533a1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001665160-23-000123.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0001665160-23-000123

**CONFORMED SUBMISSION TYPE**: C

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230123

**DATE AS OF CHANGE**: 20230123

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TransSiP, Inc.
- **CENTRAL INDEX KEY:** 0001960351
- **IRS NUMBER:** 464962054
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** C
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-31661
- **FILM NUMBER:** 23543012

**BUSINESS ADDRESS:**
- **STREET 1:** 52 FULL MOON
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618
- **BUSINESS PHONE:** 949-328-6868

**MAIL ADDRESS:**
- **STREET 1:** 52 FULL MOON
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618

### Attached PDF Documents

**Attachment 1:** `offeringmemoformc.pdf`

## **Offering Memorandum: Part II of Offering Document (Exhibit A to Form C)**

TransSiP, Inc.
52 Full Moon
Irvine, CA 92618
https://transsip.com/

Up to $1,234,998.72 in Common Stock at $3.28
Minimum Target Amount: $9,997.44

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.

## Company:

Company: TransSiP, Inc.

Address: 52 Full Moon, Irvine, CA 92618

State of Incorporation: CA

Date Incorporated: February 20, 2014

## Terms:

### Equity

Offering Minimum: $9,997.44 | 3,048 shares of Common Stock

Offering Maximum: $1,234,998.72 | 376,524 shares of Common Stock

Type of Security Offered: Common Stock

Purchase Price of Security Offered: $3.28

Minimum Investment Amount (per investor): $328.00

### Voting Rights of Securities Sold in this Offering

Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the 'CEO'), or his or her successor, as the Subscriber's true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest.

Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

### Investment Incentives and Bonuses*

#### Time-Based:

#### Launch Special Bonus

Invest within the first 72 hours and receive 12% bonus shares.

# Early Bird Bonus

Invest within the first two weeks and receive 5% bonus shares.

# New Year Bonus

Invest on or before February 28th, 2023, and receive 3% bonus shares.

## Amount-Based:

### $500+ | ASSOCIATE CIRCLE

Invest $500+ and receive 3% Bonus Shares.

### $1,000+ | ADVOCATE CIRCLE

Invest $1000+ and receive 6% Bonus Shares.

### $3,000+ | CHAMPION CIRCLE

Invest $3000+ and receive 9% Bonus Shares.

### $20,000+ | PRESIDENTS CIRCLE

Invest $20,000+ and receive 12% Bonus Shares

*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement. Bonus shares from perks will not be granted if an investor submits multiple investments that, when combined, meet the perk requirement. All perks occur when the offering is completed.*

## The 10% StartEngine Owners' Bonus

TransSIP will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $3.28 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $328. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors' eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.

Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any). Eligible investors will also receive the Owner's Bonus in addition to the aforementioned bonus.

# The Company and its Business

## *Company Overview*

TransSiP is a semiconductor company that has developed a patented noise reductions technology called TransSiP PI. This technology enables electronic devices to be more power efficient, have better accuracy, and have more precise signals, thereby enhancing user experience. The company has achieved great success with over 2 million chips sold from just a small subsegment of the overall market. TransSiP has also been recognized as one of the Top 12 global startups out of 4500+ by Singapore Week of Innovation and Technology (SWITCH). In addition, the company's accomplishments have been duly recognized by world-renowned industry leaders and professionals - u-blox, Tektronix, Sir Peter Maire, and Brent Robinson at Rakon.

## *Competitors and Industry*

Other suppliers in the field of power management IC such as Texas Instruments, Infineon, On Semiconductor, and so forth.

However, we don't consider them 'competitors' because they're not addressing the same problem we are. Their approaches are one-dimensional, still following the 40-year-old regime for voltage conversion, which leads to trade-offs between signal/noise integrity, power consumption, and size.

TransSiP's innovation in reducing switching noise jitter (SNJ) enables a multi-dimensional solution. Completely passive in the electronic systems, TransSiP PI components are very small and don't consume any power for noise management in both power and signal chain. TransSiP's voltage conversion chipsets and filters therefore run much more efficiently, without conversion losses due to waste heat. The voltage output is clean, delivering system performance that feels fast, responsive, and accurate for end users.

TransSiP simply does a better job in a smaller space at both converting and filtering supply voltages for electronic systems. Further, TransSiP technology is ring-fenced by patent protection in both the USA and China, and it also involves knowhow and materials that are unique in system-in-package manufacturing and which are protected by confidentiality agreements with our suppliers.

## *Current Stage and Roadmap*

- TransSiP addressable subsegment on present solutions is over $5 billion(2) and is expected to rise to more than $100 billion(2) when a new breakthrough product launch in 2023 covers additional market segments: GPS, wireless, consumer/industrial/national security electronics, computing and data storage, and automotive.

- TransSiP sold 2 million chips and generated over $1M sales since inception.

- We have had a dip in sales in 2022 due to a one-time revenue rollback required by

the accounting method change and the slowdown of consumer electronics, but we can still maintain positive cash flows from our current sales.

- 2023 marks the beginning of our first expansion plans thanks in part to the funds raised from this Reg CF. We predict a rebound in sales to half a million when an industrial electronics customer starts mass production and a vertically-integrated end-product that we plan to launch on a crowdfunding platform. We plan to expand our market share by aggressively investing into market outreach, funding manufacturing and launching our new semiconductor solution.

- To achieve these expansions, this initial expansion will come as a result of our first successful Reg CF fundraising campaign, but it certainly won't be our last; we plan to equity crowdfund again based on strong financial results from operations. Increasing our capitalization is key to continuing expansion and taking market share away from our competitors.

Our IP portfolio is as following and is expanding:

- Four US patents: 11243249, 16125046, 10319685, 9748663

- Two China patents: ZL201780018642.6, ZL201780008665.9

- Eight Registered Trademarks in China: 53680548, 53692365, 53690813A, 53556542, 53563458A, 53561480A, 53563458, 53561480

Ref:

[1] TransSiP Financial Statements and CPA Review for 2020 and 2021.pdf

[2] McKinsey-the-semiconductor-decade-a-trillion-dollar-industry-v3

## The Team

### Officers and Directors

**Name:** Chih Wei (Desmond) Wong

Chih Wei (Desmond) Wong's current primary role is with the Issuer.

Positions and offices currently held with the issuer:

- **Position:** CEO, Chairman of the Board

**Dates of Service:** February, 2014 - Present

**Responsibilities:** Responsible for R&D, products, business and organization development. Currently takes a salary of $18,000 a year.

- **Position:** CTO

**Dates of Service:** February, 2014 - Present

**Responsibilities:** Responsible for business and organization development and

finance.

- **Position:** CFO

**Dates of Service:** February, 2014 - Present

**Responsibilities:** Oversight financial and funding strategy.

**Name:** Lui (Mabel) Wong

Lui (Mabel) Wong's current primary role is with Halioo Lui Wong. Lui (Mabel) Wong currently services 10 hours per week in their role with the Issuer.

Positions and offices currently held with the issuer:

- **Position:** Secretary, Board Member

**Dates of Service:** February, 2014 - Present

**Responsibilities:** Oversight corporate filings and manage inside sales. Currently does not take a salary.

- **Position:** Treasurer

**Dates of Service:** February, 2014 - Present

**Responsibilities:** Oversight general finances and bookkeeping.

Other business experience in the past three years:

- **Employer:** Halioo Lui Wong

**Title:** President

**Dates of Service:** November, 2020 - Present

**Responsibilities:** Product research and marketing

**Name:** Nicholas Pearne

Nicholas Pearne's current primary role is with Selling Technology Limited. Nicholas Pearne currently services 10 hours per week in their role with the Issuer.

Positions and offices currently held with the issuer:

- **Position:** Director, Board Member

**Dates of Service:** October, 2015 - Present

**Responsibilities:** General management and information provision. Currently does not take a salary.

Other business experience in the past three years:

- **Employer:** Selling Technology Limited

**Title:** CEO

**Dates of Service:** July, 1987 - Present
**Responsibilities:** Managing director.

**Name:** William Burr

William Burr's current primary role is with Synthesis Coaching Associates. William Burr currently services 20 hours per week in their role with the Issuer.

Positions and offices currently held with the issuer:

- **Position:** COO, Board Member
  **Dates of Service:** March, 2014 - Present
  **Responsibilities:** Manage operations/manufacturing, and contribute to Corporate Affairs. Currently does not take a salary.

Other business experience in the past three years:

- **Employer:** YMEE LLC
  **Title:** Consigliere, Chairman of the Board
  **Dates of Service:** December, 2013 - Present
  **Responsibilities:** Strategic oversight, corporate affairs

Other business experience in the past three years:

- **Employer:** Synthesis Coaching Associates
  **Title:** Founder, Administrative Director
  **Dates of Service:** November, 2016 - Present
  **Responsibilities:** Financial management, organization, technical structure of training platform, content creation and publishing

## Risk Factors

The SEC requires the company to identify risks that are specific to its business and its financial condition. The company is still subject to all the same risks that all companies in its business, and all companies in the economy, are exposed to. These include risks relating to economic downturns, political and economic events and technological developments (such as hacking and the ability to prevent hacking). Additionally, early-stage companies are inherently more risky than more developed companies. You should consider general risks as well as specific risks when deciding whether to invest.

These are the risks that relate to the Company:

### *Uncertain Risk*

An investment in the Company (also referred to as “we”, “us”, “our”, or “Company”)

involves a high degree of risk and should only be considered by those who can afford the loss of their entire investment. Furthermore, the purchase of any of the Common Stock should only be undertaken by persons whose financial resources are sufficient to enable them to indefinitely retain an illiquid investment. Each investor in the Company should consider all of the information provided to such potential investor regarding the Company as well as the following risk factors, in addition to the other information listed in the Company’s Form C. The following risk factors are not intended, and shall not be deemed to be, a complete description of the commercial and other risks inherent in the investment in the Company.

#### ***Our business projections are only projections***

There can be no assurance that the Company will meet our projections. There can be no assurance that the Company will be able to find sufficient demand for our product, that people think it’s a better option than a competing product, or that we will be able to provide the service at a level that allows the Company to make a profit and still attract business.

#### ***Any valuation at this stage is difficult to assess***

The valuation for the offering was established by the Company. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment.

#### ***The transferability of the Securities you are buying is limited***

Any Common Stock purchased through this crowdfunding campaign is subject to SEC limitations of transfer. This means that the stock/note that you purchase cannot be resold for a period of one year. The exception to this rule is if you are transferring the stock back to the Company, to an “accredited investor,” as part of an offering registered with the Commission, to a member of your family, trust created for the benefit of your family, or in connection with your death or divorce.

#### ***Your investment could be illiquid for a long time***

You should be prepared to hold this investment for several years or longer. For the 12 months following your investment there will be restrictions on how you can resell the securities you receive. More importantly, there is no established market for these securities and there may never be one. As a result, if you decide to sell these securities in the future, you may not be able to find a buyer. The Company may be acquired by an existing player in the educational software development industry. However, that may never happen or it may happen at a price that results in you losing money on this investment.

#### ***If the Company cannot raise sufficient funds it will not succeed***

The Company, is offering Common Stock in the amount of up to $1,235,000 in this offering, and may close on any investments that are made. Even if the maximum amount is raised, the Company is likely to need additional funds in the future in order to grow, and if it cannot raise those funds for whatever reason, including reasons relating to the Company itself or the broader economy, it may not survive. If the

Company manages to raise only the minimum amount of funds, sought, it will have to find other sources of funding for some of the plans outlined in “Use of Proceeds.”

# ***We may not have enough capital as needed and may be required to raise more capital.***

We anticipate needing access to credit in order to support our working capital requirements as we grow. Although interest rates are low, it is still a difficult environment for obtaining credit on favorable terms. If we cannot obtain credit when we need it, we could be forced to raise additional equity capital, modify our growth plans, or take some other action. Issuing more equity may require bringing on additional investors. Securing these additional investors could require pricing our equity below its current price. If so, your investment could lose value as a result of this additional dilution. In addition, even if the equity is not priced lower, your ownership percentage would be decreased with the addition of more investors. If we are unable to find additional investors willing to provide capital, then it is possible that we will choose to cease our sales activity. In that case, the only asset remaining to generate a return on your investment could be our intellectual property. Even if we are not forced to cease our sales activity, the unavailability of credit could result in the Company performing below expectations, which could adversely impact the value of your investment.

# ***Terms of subsequent financings may adversely impact your investment***

We will likely need to engage in common equity, debt, or preferred stock financings in the future, which may reduce the value of your investment in the Common Stock. Interest on debt securities could increase costs and negatively impact operating results. Preferred stock could be issued in series from time to time with such designation, rights, preferences, and limitations as needed to raise capital. The terms of preferred stock could be more advantageous to those investors than to the holders of Common Stock. In addition, if we need to raise more equity capital from the sale of Common Stock, institutional or other investors may negotiate terms that are likely to be more favorable than the terms of your investment, and possibly a lower purchase price per share.

# ***Management Discretion as to Use of Proceeds***

Our success will be substantially dependent upon the discretion and judgment of our management team with respect to the application and allocation of the proceeds of this Offering. The use of proceeds described below is an estimate based on our current business plan. We, however, may find it necessary or advisable to re-allocate portions of the net proceeds reserved for one category to another, and we will have broad discretion in doing so.

# ***Projections: Forward Looking Information***

Any projections or forward looking statements regarding our anticipated financial or operational performance are hypothetical and are based on management’s best estimate of the probable results of our operations and will not have been reviewed by our independent accountants. These projections will be based on assumptions which management believes are reasonable. Some assumptions invariably will not materialize due to unanticipated events and circumstances beyond management’s

control. Therefore, actual results of operations will vary from such projections, and such variances may be material. Any projected results cannot be guaranteed.

# ***The amount raised in this offering may include investments from company insiders or immediate family members***

Officers, directors, executives, and existing owners with a controlling stake in the company (or their immediate family members) may make investments in this offering. Any such investments will be included in the raised amount reflected on the campaign page.

# ***We are reliant on one main type of service***

All of our current services are variants on one type of service, our semiconductor company which has developed a patented noise-reduction technology called TransSiP PI. Our revenues are therefore dependent upon the market for the TransSiP PI.

# ***Developing new products and technologies entails significant risks and uncertainties***

We are currently in the research and development stage for the 2nd generation of TransSiP PI products. Delays or cost overruns in the development for the 2nd generation of TransSiP PI products and failure of the product to meet our performance estimates may be caused by, among other things, unanticipated technological hurdles, difficulties in manufacturing, changes to design and regulatory hurdles. Any of these events could materially and adversely affect our operating performance and results of operations.

# ***Minority Holder; Securities with Voting Rights***

The Common Stock that an investor is buying has voting rights attached to them. However, you will be part of the minority shareholders of the Company and have agreed to appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as your voting proxy. You are trusting in management discretion in making good business decisions that will grow your investments. Furthermore, in the event of a liquidation of our Company, you will only be paid out if there is any cash remaining after all of the creditors of our Company have been paid out.

# ***You are trusting that management will make the best decision for the company***

You are trusting in management discretion. You are buying securities as a minority holder, and therefore must trust the management of the Company to make good business decisions that grow your investment.

# ***This offering involves “rolling closings,” which may mean that earlier investors may not have the benefit of information that later investors have.***

Once we meet our target amount for this offering, we may request that StartEngine instruct the escrow agent to disburse offering funds to us. At that point, investors whose subscription agreements have been accepted will become our investors. All early-stage companies are subject to a number of risks and uncertainties, and it is not uncommon for material changes to be made to the offering terms, or to companies’ businesses, plans or prospects, sometimes on short notice. When such changes happen during the course of an offering, we must file an amended to our Form C with the SEC, and investors whose subscriptions have not yet been accepted will have the

right to withdraw their subscriptions and get their money back. Investors whose subscriptions have already been accepted, however, will already be our investors and will have no such right.

# ***Our new product could fail to achieve the sales projections we expected***

Our growth projections are based on an assumption that with an increased advertising and marketing budget our products will be able to gain traction in the marketplace at a faster rate than our current products have. It is possible that our new products will fail to gain market acceptance for any number of reasons. If the new products fail to achieve significant sales and acceptance in the marketplace, this could materially and adversely impact the value of your investment.

# ***We face significant market competition***

We will compete with larger, established companies who currently have products on the market and/or various respective product development programs. They may have much better financial means and marketing/sales and human resources than us. They may succeed in developing and marketing competing equivalent products earlier than us, or superior products than those developed by us. There can be no assurance that competitors will render our technology or products obsolete or that the products developed by us will be preferred to any existing or newly developed technologies. It should further be assumed that competition will intensify.

# ***We are an early stage company and have limited revenue and operating history***

The Company has a short history, few customers, and limited revenues and profits. If you are investing in this company, it's because you think that TransSiP's products have proven track records, that the team will be able to successfully market, and sell the product or service, that we can price them right and sell them to enough people so that the Company will succeed. Further, there is no assurance that we will ever continue to be profitable.

# ***We have existing patents that we might not be able to protect properly***

One of the Company's most valuable assets is its intellectual property. The Company owns four U.S. patents, two China patents, eight registered trademarks in China, copyrights, Internet domain names, and trade secrets. We believe one of the most valuable components of the Company is our intellectual property portfolio. Due to the value, competitors may misappropriate or violate the rights owned by the Company. The Company intends to continue to protect its intellectual property portfolio from such violations. It is important to note that unforeseeable costs associated with such practices may invade the capital of the Company.

# ***We have pending patent approval's that might be vulnerable***

One of the Company's most valuable assets is its intellectual property. The Company's intellectual property such as patents, trademarks, copyrights, Internet domain names, and trade secrets may not be registered with the proper authorities. We believe one of the most valuable components of the Company is our intellectual property portfolio. Due to the value, competitors may misappropriate or violate the rights owned by the Company. The Company intends to continue to protect its intellectual property

portfolio from such violations. It is important to note that unforeseeable costs associated with such practices may invade the capital of the Company due to its unregistered intellectual property.

# ***Our trademarks, copyrights and other intellectual property could be unenforceable or ineffective***

Intellectual property is a complex field of law in which few things are certain. It is possible that competitors will be able to design around our intellectual property, find prior art to invalidate it, or render the patents unenforceable through some other mechanism. If competitors are able to bypass our trademark and copyright protection without obtaining a sublicense, it is likely that the Company's value will be materially and adversely impacted. This could also impair the Company's ability to compete in the marketplace. Moreover, if our trademarks and copyrights are deemed unenforceable, the Company will almost certainly lose any potential revenue it might be able to raise by entering into sublicenses. This would cut off a significant potential revenue stream for the Company.

# ***The cost of enforcing our trademarks and copyrights could prevent us from enforcing them***

Trademark and copyright litigation has become extremely expensive. Even if we believe that a competitor is infringing on one or more of our trademarks or copyrights, we might choose not to file suit because we lack the cash to successfully prosecute a multi-year litigation with an uncertain outcome; or because we believe that the cost of enforcing our trademark(s) or copyright(s) outweighs the value of winning the suit in light of the risks and consequences of losing it; or for some other reason. Choosing not to enforce our trademark(s) or copyright(s) could have adverse consequences for the Company, including undermining the credibility of our intellectual property, reducing our ability to enter into sublicenses, and weakening our attempts to prevent competitors from entering the market. As a result, if we are unable to enforce our trademark(s) or copyright(s) because of the cost of enforcement, your investment in the Company could be significantly and adversely affected.

# ***The loss of one or more of our key personnel, or our failure to attract and retain other highly qualified personnel in the future, could harm our business***

To be successful, the Company requires capable people to run its day to day operations. As the Company grows, it will need to attract and hire additional employees in sales, marketing, design, development, operations, finance, legal, human resources and other areas. Depending on the economic environment and the Company's performance, we may not be able to locate or attract qualified individuals for such positions when we need them. We may also make hiring mistakes, which can be costly in terms of resources spent in recruiting, hiring and investing in the incorrect individual and in the time delay in locating the right employee fit. If we are unable to attract, hire and retain the right talent or make too many hiring mistakes, it is likely our business will suffer from not having the right employees in the right positions at the right time. This would likely adversely impact the value of your investment.

# ***We rely on third parties to provide services essential to the success of our business***

We rely on third parties to provide a variety of essential business functions for us, including manufacturing, shipping, accounting, legal work, public relations, advertising, retailing, and distribution. It is possible that some of these third parties will fail to perform their services or will perform them in an unacceptable manner. It is possible that we will experience delays, defects, errors, or other problems with their work that will materially impact our operations and we may have little or no recourse to recover damages for these losses. A disruption in these key or other suppliers' operations could materially and adversely affect our business. As a result, your investment could be adversely impacted by our reliance on third parties and their performance.

# ***We are an early stage company and have limited profits***

TransSiP, Inc. was formed on February 20th, 2014. Accordingly, the Company has a limited history upon which an evaluation of its performance and future prospects can be made. Our current and proposed operations are subject to all business risks associated with new enterprises. These include likely fluctuations in operating results as the Company reacts to developments in its market, managing its growth and the entry of competitors into the market. We will only be able to pay dividends on any shares once our directors determine that we are financially able to do so. TransSiP has had limited revenues and profits generated since inception. There is no assurance that we will be profitable in the next 3 years or generate sufficient revenues to pay dividends to the holders of the shares.

# Ownership and Capital Structure; Rights of the Securities

## Ownership

The following table sets forth information regarding beneficial ownership of the company's holders of 20% or more of any class of voting securities as of the date of this Offering Statement filing.

| Stockholder Name | Number of Securities Owned | Type of Security Owned | Percentage |
| --- | --- | --- | --- |
| Chih Wei Wong | 7,200,000 | Common Stock | 60.0% |

## The Company's Securities

The Company has authorized equity stock. As part of the Regulation Crowdfunding raise, the Company will be offering up to 376,524 of Common Stock.

### *Common Stock*

The amount of security authorized is 12,000,000 with a total of 10,000,000 outstanding.

### *Voting Rights*

One vote per share, however, please see the voting rights of securities sold in this offering below.

### *Material Rights*

## Voting Rights of Securities Sold in this Offering

Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the 'CEO'), or his or her successor, as the Subscriber's true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

## What it means to be a minority holder

As a minority holder of Common Stock of this offering, you have granted your votes by proxy to the CEO of the Company. Even if you were to receive control of your voting rights, as a minority holder, you will have limited rights in regards to the corporate actions of the company, including additional issuances of securities, company repurchases of securities, a sale of the company or its significant assets, or company transactions with related parties. Further, investors in this offering may have rights less than those of other investors, and will have limited influence on the corporate actions of the company.

## Dilution

Investors should understand the potential for dilution. The investor's stake in a company could be diluted due to the company issuing additional shares. In other words, when the company issues more shares, the percentage of the company that you own will go down, even though the value of the company may go up. You will own a smaller piece of a larger company. This increase in number of shares outstanding could result from a stock offering (such as an initial public offering, another crowdfunding round, a venture capital round, angel investment), employees exercising stock options, or by conversion of certain instruments (e.g. convertible bonds, preferred shares or warrants) into stock. If the company decides to issue more shares, an investor could experience value dilution, with each share being worth less than before, and control dilution, with the total percentage an investor owns being less than before. There may also be earnings dilution, with a reduction in the amount earned per share (though this typically occurs only if the company offers dividends, and most early stage companies are unlikely to offer dividends, preferring to invest any earnings into the company).

## Transferability of securities

For a year, the securities can only be resold:

- In an IPO;
- To the company;
- To an accredited investor; and
- 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.

## Recent Offerings of Securities

We have made the following issuances of securities within the last three years:

- Name: Common Stock
Type of security sold: Equity
Final amount sold: $9,000.00
Number of Securities Sold: 9,000,000
Use of proceeds: General Operation Expenses
Date: October 07, 2020
Offering exemption relied upon: Limited Offering Exemption Notice (LOEN)

## Financial Condition and Results of Operations

### Financial Condition

*You should read the following discussion and analysis of our financial condition and results of our operations together with our financial statements and related notes appearing at the end of this Offering Memorandum. This discussion contains forward-looking statements reflecting our current expectations that involve risks and uncertainties. Actual results and the timing of events may differ materially from those contained in these forward-looking statements due to a number of factors, including those discussed in the section entitled “Risk Factors” and elsewhere in this Offering Memorandum.*

### Results of Operations

Circumstances which led to the performance of financial statements:

Year ended December 31, 2020 compared to year ended December 31, 2021

#### Revenue

Revenue for the fiscal year 2021 was $437,012, about a 33% increase compared to the fiscal year 2020 revenue of $329,454. As a result of the market expansion to Japan outside of the U.S. market, we are more confident than ever in our TransSiP PI products and noise reductions technology. The U.S. will remain the most important market for us to demonstrate success with TransSiP PI-enabled electronic devices and will help us as we venture into global markets.

#### Cost of sales

Cost of sales in 2021 was $202,007, an increase of approximately $42,000 from costs of $159,853 in fiscal year 2020. The increase was due to the rise in sales, and the costs increased by 26% against a 33% increase in sales. In addition, it reflected increased sales in higher-margin products.

#### Gross margins

2021 gross profit increased by $65,405 over 2020 gross profit and gross margins as a percentage of revenues increased from 51.5% in 2020 to 53.8% in 2021. This improved

performance was caused by an increase in higher-margin product sales.

## Expenses

The Company’s expenses consist of, among other things, compensation and benefits, marketing and sales expenses, fees for professional services and patents, research and development expenses and expenses of TransSiP, Inc. Expenses in 2021 increased $88,500 from 2020. Approximately $75,600 of this increase was due to increased compensation and benefits costs, accounting, and legal services for patent and trademark applications, respectively. The Company hired one employee in 2021.

## Historical results and cash flows:

The Company is currently in the growth stage and revenue-generating. We are of the opinion the historical cash flows will be indicative of the revenue and cash flows expected for the future because past cash was primarily generated through operating incomes of integrated circuit product sales. Our goal is to increase cash flows through the market expansion of our integrated circuits.

## Liquidity and Capital Resources

**What capital resources are currently available to the Company? (Cash on hand, existing lines of credit, shareholder loans, etc...)**

As of January 1st 2023, the Company has capital resources available in the form of a shareholder loan on demand, liquid assets from security investment, and approximately $20,000 cash on hand.

**How do the funds of this campaign factor into your financial resources? (Are these funds critical to your company operations? Or do you have other funds or capital resources available?)**

We believe the funds of this campaign are not critical to our company operations. We have other funds and capital resources available in addition to the funds from this Regulation Crowdfunding campaign.

**Are the funds from this campaign necessary to the viability of the company? (Of the total funds that your company has, how much of that will be made up of funds raised from the crowdfunding campaign?)**

We believe the funds from this campaign are necessary to the viability of the Company. Of the total funds that our Company has, 90% will be made up of funds raised from the crowdfunding campaign, if it raises its maximum funding goal.

**How long will you be able to operate the company if you raise your minimum? What expenses is this estimate based on?**

If the Company raises the minimum offering amount, we anticipate the Company will be able to operate for 2 years. This is based on a current monthly burn rate of $4,000 for expenses related to salaries and R&D.

**How long will you be able to operate the company if you raise your maximum funding goal?**

If the Company raises the maximum offering amount, we anticipate the Company will be able to operate for 25 years. This is based on a current monthly burn rate of $4,000 for expenses related to salaries and R&D.

**Are there any additional future sources of capital available to your company?**
**(Required capital contributions, lines of credit, contemplated future capital raises, etc...)**

Currently, the Company has contemplated additional future sources of capital including lines of credit and contemplated future capital raises.

## **Indebtedness**

- **Creditor:** Small Business Administration
  **Amount Owed:** $62,700.00
  **Interest Rate:** 3.75%
  **Maturity Date:** June 10, 2050

## **Related Party Transactions**

The Company has not conducted any related party transactions

## **Valuation**

**Pre-Money Valuation:** $32,800,000.00

### **Valuation Details:**

The company determined its pre-money valuation based on an analysis of multiple factors. TransSiP has earned over $1 million in lifetime revenue from selling 2+ million chips to customers, including those from the top 50 EMS and worldwide customer tractions- U.S.A, China, Taiwan, Japan, Switzerland, Italy, Singapore, and New Zealand. Furthermore, the addressable subsegment market for TransSiP's patented TransSiP PI products is currently estimated at over $5 billion. It is expected to grow to more than $100 billion addressable subsegment when the company releases its 2nd generation TransSiP PI products in 2023. Currently, the company offers 18

different integrated circuits and owns four U.S. patents, two China patents, and eight registered trademarks in China.

Creating another business like TransSiP would require approximately $40 million in capital investment while there is no guarantee of success. The $40 million capital requirement for TransSiP is calculated based on the estimated costs necessary to achieve our company status. We believe in order for another potential company to have 18 Integrated Circuit products, develop customer relations in three significant continents and eight countries, develop a patent portfolio, develop B2B sales connections, and operate all of these connections for seven years as we have, it would require a substantial financial burden that we have calculated to slightly over $40 million. We have over 110 years of technical experience in GPS, wireless, RF, microwave, IC design, advanced packaging technology, material science, process engineering, and printed circuit manufacturing. Our product is the first breakthrough in 40 years for a digital tech necessity. It is because the discovery of Switch Noise Jitter (SNJ) is a fundamental phenomenon that has never been observed before; thus, an 18% equity discount rate is considered reasonable due to industry risk that yields a valuation of $32.8 million.

In conclusion, with a solid IP portfolio combined with an increasingly global customer base and likely growth in sales over the coming years due to new products being released, TransSiP is worth its current valuation of $32.8 million. The founders have achieved success by bringing TransSiP IP products to market, and with the right Reg CF fundraising and further IP development, TransSiP can give more value to investors. All of this combined makes it clear why TransSiP is worth $32.8 million today.

### Disclaimers

The Company set its valuation internally, without a formal-third party independent evaluation. The pre-money valuation has been calculated on a fully diluted basis. In making this calculation, we have assumed: (i) all preferred stock is converted to common stock; (ii) all outstanding options, warrants, and other securities with a right to acquire shares are exercised; and (iii) any shares reserved for issuance under a stock plan are issued.

### Use of Proceeds

If we raise the Target Offering Amount of $9,997.44 we plan to use these proceeds as follows:

- StartEngine Platform Fees
5.5%
- StartEngine Service Fees
94.5%
Fees for certain services provided by StartEngine.

If we raise the over allotment amount of $1,234,998.72, we plan to use these proceeds

as follows:

- *StartEngine Platform Fees*  
  5.5%
- *Research & Development*  
  20.0%  
  We will use 20% of the funds raised for market and customer research, new product development and market testing.
- *Inventory*  
  5.0%  
  We will use 5% of the funds raised to purchase inventory for the Company's TransSiP PI products in preparation of expansion and launch of the products.
- *Company Employment*  
  54.5%  
  We will use 54.5% of the funds to hire key personnel for daily operations, including the following roles: Sales and Business Development, R&D and Application Engineering, Production and Operation. Wages to be commensurate with training, experience and position.
- *Working Capital*  
  15.0%  
  We will use 15% of the funds for working capital to cover expenses for the TransSiP PI products expansion as well as ongoing day-to-day operations of the Company.

The Company may change the intended use of proceeds if our officers believe it is in the best interests of the company.

## Regulatory Information

### Disqualification

No disqualifying event has been recorded in respect to the company or its officers or directors.

### Compliance Failure

The company has not previously failed to comply with the requirements of Regulation Crowdfunding.

### Ongoing Reporting

The Company will file a report electronically with the SEC annually and post the report on its website no later than April 29 (120 days after Fiscal Year End). Once posted, the annual report may be found on the Company's website at

https://transsip.com/ (https://www.transsip.com/annual-reports).

## Updates

Updates on the status of this Offering may be found at: www.startengine.com/transsip

## Investing Process

See Exhibit E to the Offering Statement of which this Offering Memorandum forms a part.

# **EXHIBIT B TO FORM C**

FINANCIAL STATEMENTS AND INDEPENDENT ACCOUNTANT'S REVIEW FOR TransSiP, Inc.

*[See attached]*

**TransSiP, Inc.** (the “Company”) a California Corporation

Financial Statements (unaudited) and
Independent Accountant’s Review Report

Years ended December 31, 2020 & 2021

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

## INDEPENDENT ACCOUNTANT'S REVIEW REPORT

To Management TransSiP, Inc.

We have reviewed the accompanying financial statements of the Company which comprise the statement of financial position as of December 31, 2020 & 2021 and the related statements of operations, statement of changes in shareholder equity, and statement of cash flows for the years then ended, and the related notes to the financial statements. A review includes primarily applying analytical procedures to management’s financial data and making inquiries of Company management. A review is substantially less in scope than an audit, the objective of which is the expression of an opinion regarding the financial statements as a whole. Accordingly, we do not express such an opinion.

### Management’s Responsibility for the Financial Statements

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

### Accountant’s Responsibility

Our responsibility is to conduct the review engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. Those standards require us to perform procedures to obtain limited assurance as a basis for reporting whether we are aware of any material modifications that should be made to the financial statements for them to be in accordance with accounting principles generally accepted in the United States of America. We believe that the results of our procedures provide a reasonable basis for our conclusion.

### Accountant’s Conclusion

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

Vince Mongio, CPA, CIA, CFE, MACC

*Vincenzo Mongio*

# **Statement of Financial Position**

|  | Year Ended December 31, |  |
| --- | --- | --- |
|  | 2021 | 2020 |
| ASSETS |  |  |
| Current Assets |  |  |
| Cash and Cash Equivalents | 4,652 | 110,196 |
| Accounts Receivable | 102,960 | 9,315 |
| Investment in Securities | 99,998 | - |
| Inventory | 7,050 | 4,050 |
| Total Current Assets | 214,660 | 123,561 |
| TOTAL ASSETS | 214,660 | 123,561 |
| LIABILITIES AND EQUITY |  |  |
| Liabilities |  |  |
| Current Liabilities |  |  |
| Deferred Revenue | 8,498 | 32,976 |
| Accrued Interest | 1,441 | 346 |
| Total Current Liabilities | 9,939 | 33,322 |
| Long-term Liabilities |  |  |
| Notes Payable | 62,700 | 18,787 |
| Notes Payable - Related Party | 74,522 | 109,951 |
| Total Long-Term Liabilities | 137,222 | 128,738 |
| TOTAL LIABILITIES | 147,160 | 162,060 |
| EQUITY |  |  |
| Accumulated Deficit | 67,500 | (38,499) |
| Total Equity | 67,500 | (38,499) |
| TOTAL LIABILITIES AND EQUITY | 214,660 | 123,561 |

### Statement of Operations

|  | Year Ended December 31, |  |
| --- | --- | --- |
|  | 2021 | 2020 |
| Revenue | 437,012 | 329,454 |
| Cost of Revenue | 202,007 | 159,853 |
| Gross Profit | 235,006 | 169,601 |
| Operating Expenses |  |  |
| Advertising and Marketing | 3,179 | 473 |
| General and Administrative | 163,349 | 77,554 |
| Total Operating Expenses | 166,527 | 78,027 |
| Operating Income (loss) | 68,478 | 91,574 |
| Other Income |  |  |
| Other | 39,927 | 11,000 |
| Total Other Income | 39,927 | 11,000 |
| Other Expense |  |  |
| Interest Expense | 1,253 | 346 |
| Total Other Expense | 1,253 | 346 |
| Provision for Income Tax | 1,154 | 1,004 |
| Net Income (loss) | 105,999 | 101,224 |

### Statement of Cash Flows

|  | Year Ended December 31, |  |
| --- | --- | --- |
|  | 2021 | 2020 |
| OPERATING ACTIVITIES |  |  |
| Net Income (Loss) | 105,999 | 101,224 |
| Adjustments to reconcile Net Income to Net Cash provided by operations: |  |  |
| Accrued Interest | 1,095 | 346 |
| PPP Funding | (2,587) | 2,587 |
| Accounts Receivable | (93,645) | (9,315) |
| Deferred Revenue | (24,479) | 9,270 |
| Inventory | (3,000) | 5,299 |
| Total Adjustments to reconcile Net Income to Net Cash provided by operations: | (122,616) | 8,187 |
| Net Cash provided by (used in) Operating Activities | (16,617) | 109,411 |
| INVESTING ACTIVITIES |  |  |
| Investment in Securities | (99,998) | - |
| Net Cash provided by (used by) Investing Activities | (99,998) | - |
| FINANCING ACTIVITIES |  |  |
| Notes Payable | 46,500 | 16,200 |
| Notes Payable - Related Party | (35,429) | (94,457) |
| Net Cash provided by (used in) Financing Activities | 11,071 | (78,257) |
| Cash at the beginning of period | 110,196 | 79,042 |
| Net Cash increase (decrease) for period | (105,544) | 31,154 |
| Cash at end of period | 4,652 | 110,196 |

# **Statement of Changes in Shareholder Equity**

|  | Common Stock |  | APIC | Accumulated Deficit | Total Shareholder Equity |
| --- | --- | --- | --- | --- | --- |
|  | # of Shares Amount | $ Amount |  |  |  |
| Beginning Balance at 1/1/2020 | 1,000,000 | - | - | (139,723) | (139,723) |
| Issuance of Common Stock | 9,000,000 | - | - | - | - |
| Net Income (Loss) | - | - | - | 101,224 | 101,224 |
| Ending Balance 12/31/2020 | 10,000,000 | - | - | (38,499) | (38,499) |
| Issuance of Common Stock | - | - | - | - | - |
| Net Income (Loss) | - | - | - | 105,999 | 105,999 |
| Ending Balance 12/31/2021 | 10,000,000 | - | - | 67,500 | 67,500 |

# **TransSiP, Inc.**  
**Notes to the Unaudited Financial Statements**  
**December 31st, 2021**  
**\$USD**

# **NOTE 1 - ORGANIZATION AND NATURE OF ACTIVITIES**

TransSiP, Inc. (“the Company”) was incorporated in California on February 20th, 2014. The Company sells patented noise reduction technology in the form of integrated circuits (ICs) and is trademarked as TransSiP PI. The company is headquartered in Irvine, California, and has customers in the United States, Switzerland, Italy, China, Taiwan, Japan, Singapore, and New Zealand. TransSiP’s noise reduction technology has been validated by major companies, which enables products to reach exciting levels of battery life, signal clarity, speed, and reliability. The Company is committed to empowering excellent user experience and branding for its customers.

The Company will conduct a crowdfunding campaign under regulation CF in 2022 to grow its sales by expanding sales organization and operational support. The Company also plans to research and develop new products that incorporate the TransSiP PI noise reduction technology.

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

# Basis of Presentation

Our financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Our fiscal year ends on December 31. The Company has no interest in variable interest entities and no predecessor entities.

# Use of Estimates and Assumptions

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

# Cash and Cash Equivalents

Cash and cash equivalents include all cash balances, and highly liquid investments with maturities of three months or less when purchased.

# Fair Value of Financial Instruments

ASC 820 “*Fair Value Measurements and Disclosures*” establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

- Level 1: defined as observable inputs such as quoted prices in active markets;

- Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

- Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

### Concentrations of Credit Risks

The Company's financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. The Company's management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.

### Revenue Recognition

The Company recognizes revenue from the sale of products and services in accordance with ASC 606, 'Revenue Recognition' following the five steps procedure:

Step 1: Identify the contract(s) with customers

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price to performance obligations

Step 5: Recognize Revenue When or As Performance Obligations Are Satisfied

The Company's primary performance obligation is the delivery of products. Revenue is recognized at the time of shipment, net of estimated returns. Coincident with revenue recognition, the Company establishes a liability for expected returns and records an asset (and corresponding adjustment to cost of sales) for its right to recover products from customers on settling the refund liability. The Company had deferred revenue of $8,498 as of December 31st, 2021.

### Accounts Receivable

Trade receivables due from customers are uncollateralized customer obligations due under normal trade terms. Trade receivables are stated at the amount billed to the customer. Payments of trade receivables are allocated to the specific invoices identified on the customer's remittance advice or, if unspecified, are applied to the earliest unpaid invoices. Payments are generally collected upfront, but some of the merchants that products are sold through have a delay between collecting from the customer and sending to the Company.

The Company estimates an allowance for doubtful accounts based upon an evaluation of the current status of receivables, historical experience, and other factors as necessary. It is reasonably possible that the Company's estimate of the allowance for doubtful accounts will change.

### Investment in Securities

The Company had $99,998 in an investment account, which included various securities, as of December 31st, 2021. The Company has labeled the securities as trading securities as they were acquired with the intent to sell in the near term and are carried at fair value. There were no dividends associated with the holding of these investment as of December 31st, 2021. The Company does not have the ability to exercise significant influence in any of the companies for which it owns securities in.

### Other Income

Other Income in the amount of $39,927 generated in 2021 includes PPP forgiveness, a COVID relief grant, and prize money awarded from the University of California, Irvine.

### Advertising Costs

Advertising costs associated with marketing the Company's products and services are generally expensed as costs are incurred.

### General and Administrative

General and administrative expenses consist of payroll and related expenses for employees and independent contractors involved in general corporate functions, including accounting, finance, tax, legal, business development, and other miscellaneous expenses.

### Equity based compensation

The Company did not have any equity-based compensation as of December 31$^{st}$, 2021.

### Income Taxes

The Company is subject to Corporate income and state income taxes in the state it does business. A deferred tax asset as a result of net operating losses (NOL) has not been recognized due to the uncertainty of future positive taxable income to utilize the NOL.

### Recent accounting pronouncements

The FASB issues ASUs to amend the authoritative literature in ASC. There have been a number of ASUs to date that amend the original text of ASC. Management believes that those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to us or (iv) are not expected to have a significant impact on our financial statements.

### **NOTE 3 - RELATED PARTY TRANSACTIONS**

The Company follows ASC 850, “Related Party Disclosures,” for the identification of related parties and disclosure of related party transactions.

A shareholder loaned the Company $110k in 2020 and $75k in 2021 to fund daily operations. The amounts do not accrue interest and are due on demand. The balance of the loan was $74,522 as of December 31$^{st}$, 2021.

### **NOTE 4 - COMMITMENTS, CONTINGENCIES, COMPLIANCE WITH LAWS AND REGULATIONS**

We are currently not involved with or know of any pending or threatening litigation against the Company or any of its officers. Further, the Company is currently complying with all relevant laws and regulations. The Company does not have any long-term commitments or guarantees.

### **NOTE 5 - DEBT**

The Company entered into a Small Business Act (SBA) loan in the amount of $62,700. The loan accrues interest of 3.75% and is due in 2050. The balance of the loan was $62,700 as of December 31$^{st}$, 2021.

See Note 3 - Related Party Transactions for details of shareholder loan.

#### **Debt Principal Maturities 5 Years Subsequent to 2021**

| Year | Amount |
| --- | --- |
| 2022 | $78,336 |
| 2023 | $3,714 |
| 2024 | $3,714 |
| 2025 | $3,714 |
| 2026 | $3,714 |
| Thereafter | $44,030 |

## **NOTE 6 - EQUITY**

The Company has authorized 12,000,000 common shares with a par value of $0.001 per share. 10,000,000 common shares were issued and outstanding as of 2020 and 2021.

**Voting:** Common stockholders are entitled to one vote per share.

**Dividends:** The holders of common stock are entitled to receive dividends when and if declared by the Board of Directors.

## **NOTE 7 - SUBSEQUENT EVENTS**

The Company has evaluated events subsequent to December 31, 2021 to assess the need for potential recognition or disclosure in this report. Such events were evaluated through September 29, 2022, the date these financial statements were available to be issued.

The Company has paid back the shareholder loan that had a balance of $74,522 as of December 31st, 2021.

## **NOTE 8 - RISKS AND UNCERTAINTIES**

### ***COVID-19***

The spread of COVID-19 has severely impacted many local economies around the globe. In many countries, businesses are being forced to cease or limit operations for long or indefinite periods of time. Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing, and closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an economic slowdown. Global stock markets have also experienced great volatility and a significant weakening. Governments and central banks have responded with monetary and fiscal interventions to stabilize economic conditions. The duration and impact of the COVID-19 pandemic, as well as the effectiveness of government and central bank responses remains unclear currently. It is not possible to reliably estimate the duration and severity of these consequences, as well as their impact on the financial position and results of the Company for future periods.

# **EXHIBIT C TO FORM C**

# **PROFILE SCREENSHOTS**

*[See attached]*

| 序号 | 名称 | 数量 |
| --- | --- | --- |
| 1 | 2000 | 200 |
| 2 | 2001 | 200 |
| 3 | 2002 | 200 |
| 4 | 2003 | 200 |
| 5 | 2004 | 200 |
| 6 | 2005 | 200 |
| 7 | 2006 | 200 |
| 8 | 2007 | 200 |
| 9 | 2008 | 200 |
| 10 | 2009 | 200 |
| 11 | 2010 | 200 |
| 12 | 2011 | 200 |
| 13 | 2012 | 200 |
| 14 | 2013 | 200 |
| 15 | 2014 | 200 |
| 16 | 2015 | 200 |
| 17 | 2016 | 200 |
| 18 | 2017 | 200 |
| 19 | 2018 | 200 |
| 20 | 2019 | 200 |
| 21 | 2020 | 200 |
| 22 | 2021 | 200 |
| 23 | 2022 | 200 |
| 24 | 2023 | 200 |
| 25 | 2024 | 200 |
| 26 | 2025 | 200 |
| 27 | 2026 | 200 |
| 28 | 2027 | 200 |
| 29 | 2028 | 200 |
| 30 | 2029 | 200 |
| 31 | 2030 | 200 |
| 32 | 2031 | 200 |
| 33 | 2032 | 200 |
| 34 | 2033 | 200 |
| 35 | 2034 | 200 |
| 36 | 2035 | 200 |
| 37 | 2036 | 200 |
| 38 | 2037 | 200 |
| 39 | 2038 | 200 |
| 40 | 2039 | 200 |
| 41 | 2040 | 200 |
| 42 | 2041 | 200 |
| 43 | 2042 | 200 |
| 44 | 2043 | 200 |
| 45 | 2044 | 200 |
| 46 | 2045 | 200 |
| 47 | 2046 | 200 |
| 48 | 2047 | 200 |
| 49 | 2048 | 200 |
| 50 | 2049 | 200 |
| 51 | 2050 | 200 |
| 52 | 2051 | 200 |
| 53 | 2052 | 200 |
| 54 | 2053 | 200 |
| 55 | 2054 | 200 |
| 56 | 2055 | 200 |
| 57 | 2056 | 200 |
| 58 | 2057 | 200 |
| 59 | 2058 | 200 |
| 60 | 2059 | 200 |
| 61 | 2060 | 200 |
| 62 | 2061 | 200 |
| 63 | 2062 | 200 |
| 64 | 2063 | 200 |
| 65 | 2064 | 200 |
| 66 | 2065 | 200 |
| 67 | 2066 | 200 |
| 68 | 2067 | 200 |
| 69 | 2068 | 200 |
| 70 | 2069 | 200 |
| 71 | 2070 | 200 |
| 72 | 2071 | 200 |
| 73 | 2072 | 200 |
| 74 | 2073 | 200 |
| 75 | 2074 | 200 |
| 76 | 2075 | 200 |
| 77 | 2076 | 200 |
| 78 | 2077 | 200 |
| 79 | 2078 | 200 |
| 80 | 2079 | 200 |
| 81 | 2080 | 200 |
| 82 | 2081 | 200 |
| 83 | 2082 | 200 |
| 84 | 2083 | 200 |
| 85 | 2084 | 200 |
| 86 | 2085 | 200 |
| 87 | 2086 | 200 |
| 88 | 2087 | 200 |
| 89 | 2088 | 200 |
| 90 | 2089 | 200 |
| 91 | 2090 | 200 |
| 92 | 2091 | 200 |
| 93 | 2092 | 200 |
| 94 | 2093 | 200 |
| 95 | 2094 | 200 |
| 96 | 2095 | 200 |
| 97 | 2096 | 200 |
| 98 | 2097 | 200 |
| 99 | 2098 | 200 |

# EXHIBIT D TO FORM C

# VIDEO TRANSCRIPT

Traction Video

Hello, this is Bill Burr.

I take care of operations and manufacturing here at TransSiP. We have a scalable world-class manufacturing team capable of responding to our customer’s requirements.

# STARTENGINE SUBSCRIPTION PROCESS (Exhibit E)

# Platform Compensation

- As compensation for the services provided by StartEngine Capital, the issuer is required to pay to StartEngine Capital a fee consisting of a 5.5-13% (five and one-half to thirteen) commission based on the dollar amount of securities sold in the Offering and paid upon disbursement of funds from escrow at the time of a closing. The commission is paid in cash and in securities of the Issuer identical to those offered to the public in the Offering at the sole discretion of StartEngine Capital. Additionally, the issuer must reimburse certain expenses related to the Offering. The securities issued to StartEngine Capital, if any, will be of the same class and have the same terms, conditions and rights as the securities being offered and sold by the issuer on StartEngine Capital's website.
- As compensation for the services provided by StartEngine Capital, investors are also required to pay StartEngine Capital a fee consisting of a 0-3.5% (zero to three and a half percent) service fee based on the dollar amount of securities purchased in each investment.

# Information Regarding Length of Time of Offering

- Investment Cancellations: Investors will have up to 48 hours prior to the end of the offering period to change their minds and cancel their investment commitments for any reason. Once within 48 hours of ending, investors will not be able to cancel for any reason, even if they make a commitment during this period.
- Material Changes: Material changes to an offering include but are not limited to: A change in minimum offering amount, change in security price, change in management, material change to financial information, etc. If an issuer makes a material change to the offering terms or other information disclosed, including a change to the offering deadline, investors will be given five business days to reconfirm their investment commitment. If investors do not reconfirm, their investment will be canceled and the funds will be returned.

# Hitting The Target Goal Early & Oversubscriptions

- StartEngine Capital will notify investors by email when the target offering amount has hit 25%, 50% and 100% of the funding goal. If the issuer hits its goal early, the issuer can create a new target deadline at least 5 business days out. Investors will be notified of the new target deadline via email and will then have the opportunity to cancel up to 48 hours before the new deadline.
- Oversubscriptions: We require all issuers to accept oversubscriptions. This may not be possible if: 1) it vaults an issuer into a different category for financial statement requirements (and they do not have the requisite financial statements); or 2) they reach $5M in investments. In the event of an oversubscription, shares will be allocated at the discretion of the issuer.
- If the sum of the investment commitments does not equal or exceed the target offering amount at the offering deadline, no securities will be sold in the offering, investment commitments will be canceled and committed funds will be returned.
- If a StartEngine issuer reaches its target offering amount prior to the deadline, it may conduct an initial closing of the offering early if they provide notice of the new offering deadline at least five business days prior to the new offering deadline (absent a material change that would require an extension of the offering and reconfirmation of the investment commitment). StartEngine will notify

investors when the issuer meets its target offering amount. Thereafter, the issuer may conduct additional closings until the offering deadline.

# Minimum and Maximum Investment Amounts

- In order to invest, to commit to an investment or to communicate on our platform, users must open an account on StartEngine Capital and provide certain personal and non- personal information including information related to income, net worth, and other investments.
- Investor Limitations: There are no investment limits for investing in crowdfunding offerings for accredited investors. Non-accredited investors are limited in how much they can invest on all crowdfunding offerings during any 12-month period. The limitation on how much they can invest depends on their net worth (excluding the value of their primary residence) and annual income. If either their annual income or net worth is less than $107,000, then during any 12-month period, they can invest either $2,200 or 5% of their annual income or net worth, whichever is greater. If both their annual income and net worth are equal to or more than $107,000, then during any 12-month period, they can invest up to 10% of annual income or net worth, whichever is greater, but their investments cannot exceed $107,000.

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

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

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

**Legal Status:** Corporation

**Jurisdiction of Incorporation/Organization:** CA

**Date of Organization:** 02-20-2014

**Physical Address:** 52 Full Moon, Irvine, CA, 92618

**Issuer Website:** https://transsip.com/

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

**Intermediary Name:** StartEngine Capital, LLC

**Intermediary CIK:** 0001665160

**Intermediary File Number:** 007-00007

### Offering Information

**Compensation to Intermediary:** Up to 9% percent

**Financial Interest in Issuer:** Three percent (3%) of securities of the total amount of investments raised in the offering, along the same terms as investors.

**Type of Security Offered:** Common Stock

**Number of Securities Offered:** 3048

**Price per Security:** $3.28

**Method for Determining Price:** N/A

**Target Offering Amount:** $9,997.44

**Oversubscription Accepted:** Yes

**Oversubscription Allocation Type:** Other

**Description of Oversubscription:** At issuer's discretion, with priority given to StartEngine Owners

**Maximum Offering Amount:** $1,234,998.72

**Deadline to Reach Target Amount:** 03-24-2023

### Annual Report Disclosure Requirements

**Current Number of Employees:** 1

**Total Assets (Most Recent Fiscal Year):** $214,660.00

**Total Assets (Prior Fiscal Year):** $123,561.00

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $4,652.00

**Cash & Cash Equivalents (Prior Fiscal Year):** $110,196.00

**Accounts Receivable (Most Recent Fiscal Year):** $102,960.00

**Accounts Receivable (Prior Fiscal Year):** $9,315.00

**Short-Term Debt (Most Recent Fiscal Year):** $9,939.00

**Short-Term Debt (Prior Fiscal Year):** $33,322.00

**Long-Term Debt (Most Recent Fiscal Year):** $137,222.00

**Long-Term Debt (Prior Fiscal Year):** $128,738.00

**Revenues/Sales (Most Recent Fiscal Year):** $437,012.00

**Revenues/Sales (Prior Fiscal Year):** $329,454.00

**Cost of Goods Sold (Most Recent Fiscal Year):** $202,007.00

**Cost of Goods Sold (Prior Fiscal Year):** $159,853.00

**Taxes Paid (Most Recent Fiscal Year):** $1,154.00

**Taxes Paid (Prior Fiscal Year):** $1,004.00

**Net Income (Most Recent Fiscal Year):** $105,999.00

**Net Income (Prior Fiscal Year):** $101,224.00

**Jurisdictions Offered:**

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

### Signatures

**Issuer:** TransSiP, Inc.

**Signature:** Desmond Wong

**Title:** CEO and Chairman of the Board

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**Signature:** Desmond Wong

**Title:** CEO and Chairman of the Board

**Date:** 01-23-2023

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**Signature:** Mabel Wong

**Title:** Treasurer and Board Member

**Date:** 01-23-2023

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**Signature:** William Burr

**Title:** Board Member

**Date:** 01-23-2023