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Share Name | Share Symbol | Market | Type |
---|---|---|---|
StartEngine Collectibles Fund I LLC (GM) | USOTC:STGES | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 1−K/A
ANNUAL REPORT PURSUANT TO REGULATION A
OF THE SECURITIES ACT OF 1933
For the fiscal year ended December 31, 2022
StartEngine Collectibles Fund I LLC |
(Exact name of issuer as specified in its charter) |
Delaware | 861349881 | |
(State
or other jurisdiction of |
(I.R.S.
Employer Identification No.) |
4100 West Alameda Avenue, Suite 300 Burbank, California 91505 |
(Full mailing address of principal executive offices) |
1-800-317-2200 |
(Issuer’s telephone number, including area code) |
Series Wine #2020PAVIE, Series Wine #2020CHBL, Series Wine #2020AUSO, Series Wine #2020ANGE, Series Wine #2020CERT, Series Wine #2005LPIN, Series Wine #2015HBRI, Series Wine #2000EGLC, Series Wine #2016CHAM, Series Wine #2016BONMA, Series Wine #2016MUSIG, Series Wine #2009PETRUS, Series Wine #2010PETRUS, Series Art #WARHOLMARILYN, Series Sports #JORDANROOKIE, Series Sports #JAMESREFRACTOR, Series Art #INDIANALOVE, Series Art #HIRSTDOTS, Series Sports #JACKIEROOKIE, Series Comics #BATMAN, Series Wine #2012CRISTAL, Series Wine #2008DOMP, Series Wine #2012DOMP, Series Wine #2006DOMP, Series Wine #2015ROMANEE, Series Wine #2011CRIOTS, Series Art #BANKSYLAUGH, Series Comics #SUPERMAN, Series Watch #SCHWARZENEGGER, Series Watch #ROLEX 6265, Series Watch #PEPSI, Series Art #PICASSO, Series Art #DALI, Series Comics #HULK181, Series Wine #CORTON CHARLEMAGNE 2015, Series Wine #2020HAUT, Series Wine #BORDEAUXCOLLECTION
(Title of each class of securities issued pursuant to Regulation A*)
*In addition, to series with issued shares, includes all open series including ones where no shares have been issued to date.
EXPLANATORY NOTE
The company amended Item 7 of its Form 1-K to reflect formatting and other changes its financial statements. The Form 1-K can be found HERE.
STARTENGINE COLLECTIBLES FUND I LLC
FINANCIAL STATEMENTS
DECEMBER 31, 2022
F-1
INDEPENDENT AUDITORS’ REPORT
To the Members of StartEngine Collectibles Fund I LLC
We have audited the accompanying financial statements of StartEngine Collectibles Fund I LLC (the “Company”), which comprise the balance sheet as of December 31, 2022 and 2021, the related statements of operations, stockholders' equity (deficit), and cash flows for the years then ended, and the related notes (collectively referred to as the "financial statements").
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditors’ Responsibility
Our responsibility is to express an opinion on the financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the Company's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of StartEngine Collectibles Fund I LLC as of December 31, 2022 and 2021 and the results of its operations and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
Going Concern
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has incurred losses and has no working capital, which raises substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
/S BF Borgers CPA PC
BF Borgers CPA PC
Lakewood, CO
April 11, 2023
F-2
STARTENGINE
COLLECTIBLES FUND I LLC
CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2022 and DECEMBER 31, 2021
December 31, 2022 | ||||||||||||||||||||
Series Wine #2020PAVIE | Series Wine #2020CHBL | Series Wine #2020AUSO | Series Wine #2020ANGE | Series Wine #2020CERT | ||||||||||||||||
ASSETS | ||||||||||||||||||||
CURRENT ASSETS | ||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||
Prepaid Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT ASSETS | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
LONG TERM ASSETS | ||||||||||||||||||||
Deferred Offering Costs | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Investments | $ | 22,990 | $ | 11,580 | $ | 29,310 | $ | 15,270 | $ | 11,500 | ||||||||||
TOTAL LONG TERM ASSETS | $ | 22,990 | $ | 11,580 | $ | 29,310 | $ | 15,270 | $ | 11,500 | ||||||||||
TOTAL ASSETS | $ | 22,990 | $ | 11,580 | $ | 29,310 | $ | 15,270 | $ | 11,500 | ||||||||||
LIABILITIES AND MEMBERS’ EQUITY | ||||||||||||||||||||
CURRENT LIABILITIES | ||||||||||||||||||||
Due to Members | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
MEMBERS’ DEFICIT | ||||||||||||||||||||
Member Contrtibution | $ | 22,990 | $ | 11,580 | $ | 29,310 | $ | 15,270 | $ | 11,500 | ||||||||||
Accumulated Deficit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL MEMBERS’ DEFICIT | $ | 22,990 | $ | 11,580 | $ | 29,310 | $ | 15,270 | $ | 11,500 | ||||||||||
TOTAL LIABILITIES AND MEMBERS’ EQUITY | $ | 22,990 | $ | 11,580 | $ | 29,310 | $ | 15,270 | $ | 11,500 |
See Accompanying Notes to the Financial Statements
F-3
December 31, 2022 | ||||||||||||||||||||
Series Wine #2016CHAM | Series Sports #JAMESREFRACTOR | Series Wine #2015HBRI | Series Wine #2016BONMA | Series Wine #2016MUSIG | ||||||||||||||||
ASSETS | ||||||||||||||||||||
CURRENT ASSETS | ||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||
Prepaid Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT ASSETS | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
LONG TERM ASSETS | ||||||||||||||||||||
Deferred Offering Costs | $ | - | $ | - | ||||||||||||||||
Investments | $ | 5,160 | 146,880 | 41,380 | 28,970 | 21,230 | ||||||||||||||
TOTAL LONG TERM ASSETS | $ | 5,160 | $ | 146,880 | $ | 41,380 | $ | 28,970 | $ | 21,230 | ||||||||||
TOTAL ASSETS | $ | 5,160 | $ | 146,880 | $ | 41,380 | $ | 28,970 | $ | 21,230 | ||||||||||
LIABILITIES AND MEMBERS’ EQUITY | ||||||||||||||||||||
CURRENT LIABILITIES | ||||||||||||||||||||
Due to Members | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
MEMBERS’ DEFICIT | ||||||||||||||||||||
Member Contrtibution | $ | 5,160 | 146,880 | 41,380 | 28,970 | 21,230 | ||||||||||||||
Accumulated Deficit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL MEMBERS’ DEFICIT | $ | 5,160 | $ | 146,880 | $ | 41,380 | $ | 28,970 | $ | 21,230 | ||||||||||
TOTAL LIABILITIES AND MEMBERS’ EQUITY | $ | 5,160 | $ | 146,880 | $ | 41,380 | $ | 28,970 | $ | 21,230 |
See Accompanying Notes to the Financial Statements
F-4
December 31, 2022 | ||||||||||||||||||||
Series Wine #2009PETRUS | Series Wine #2010PETRUS | Series Art #WARHOLMARILYN | Series Sports #JORDANROOKIE | Series Wine #2012CRISTAL | ||||||||||||||||
ASSETS | ||||||||||||||||||||
CURRENT ASSETS | ||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||
Prepaid Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT ASSETS | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
LONG TERM ASSETS | ||||||||||||||||||||
Deferred Offering Costs | ||||||||||||||||||||
Investments | 59,360 | 59,530 | 302,400 | 432,000 | 11,950 | |||||||||||||||
TOTAL LONG TERM ASSETS | $ | 59,360 | $ | 59,530 | $ | 302,400 | $ | 432,000 | $ | 11,950 | ||||||||||
TOTAL ASSETS | $ | 59,360 | $ | 59,530 | $ | 302,400 | $ | 432,000 | $ | 11,950 | ||||||||||
LIABILITIES AND MEMBERS’ EQUITY | ||||||||||||||||||||
CURRENT LIABILITIES | ||||||||||||||||||||
Due to Members | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
MEMBERS’ DEFICIT | ||||||||||||||||||||
Member Contrtibution | 59,360 | 59,530 | 302,400 | 432,000 | 11,950 | |||||||||||||||
Accumulated Deficit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL MEMBERS’ DEFICIT | $ | 59,360 | $ | 59,530 | $ | 302,400 | $ | 432,000 | $ | 11,950 | ||||||||||
TOTAL LIABILITIES AND MEMBERS’ EQUITY | $ | 59,360 | $ | 59,530 | $ | 302,400 | $ | 432,000 | $ | 11,950 |
See Accompanying Notes to the Financial Statements
F-5
December 31, 2022 | ||||||||||||||||||||
Series Wine #2008DOMP | Series Wine #2012DOMP | Series Wine #2006DOMP | Series Art #BANKSYLAUGH | Series Watch #ROLEX6265 | ||||||||||||||||
ASSETS | ||||||||||||||||||||
CURRENT ASSETS | ||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||
Prepaid Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT ASSETS | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
LONG TERM ASSETS | ||||||||||||||||||||
Deferred Offering Costs | ||||||||||||||||||||
Investments | 19,040 | 14,720 | 16,230 | 155,400 | 84,000 | |||||||||||||||
TOTAL LONG TERM ASSETS | $ | 19,040 | $ | 14,720 | $ | 16,230 | $ | 155,400 | $ | 84,000 | ||||||||||
TOTAL ASSETS | $ | 19,040 | $ | 14,720 | $ | 16,230 | $ | 155,400 | $ | 84,000 | ||||||||||
LIABILITIES AND MEMBERS’ EQUITY | ||||||||||||||||||||
CURRENT LIABILITIES | ||||||||||||||||||||
Due to Members | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
MEMBERS’ DEFICIT | ||||||||||||||||||||
Member Contrtibution | 19,040 | 14,720 | 16,230 | 155,400 | 84,000 | |||||||||||||||
Accumulated Deficit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL MEMBERS’ DEFICIT | $ | 19,040 | $ | 14,720 | $ | 16,230 | $ | 155,400 | $ | 84,000 | ||||||||||
TOTAL LIABILITIES AND MEMBERS’ EQUITY | $ | 19,040 | $ | 14,720 | $ | 16,230 | $ | 155,400 | $ | 84,000 |
See Accompanying Notes to the Financial Statements
F-6
December 31, 2022 | ||||||||||||
Series Watch #PEPSI | Unallocated | Consolidated | ||||||||||
ASSETS | ||||||||||||
CURRENT ASSETS | ||||||||||||
Cash and Cash Equivalents | - | - | ||||||||||
Prepaid Expenses | $ | - | $ | - | $ | - | ||||||
TOTAL CURRENT ASSETS | $ | - | $ | - | $ | - | ||||||
LONG TERM ASSETS | ||||||||||||
Deferred Offering Costs | $ | 100,610 | $ | 100,610 | ||||||||
Investments | 16,800 | $ | - | $ | 1,505,700 | |||||||
TOTAL LONG TERM ASSETS | $ | 16,800 | $ | 100,610 | $ | 1,606,310 | ||||||
TOTAL ASSETS | $ | 16,800 | $ | 100,610 | $ | 1,606,310 | ||||||
LIABILITIES AND MEMBERS’ EQUITY | ||||||||||||
CURRENT LIABILITIES | ||||||||||||
Due to Members | $ | - | $ | 180,610 | $ | 180,610 | ||||||
TOTAL CURRENT LIABILITIES | $ | - | $ | 180,610 | $ | 180,610 | ||||||
TOTAL LIABILITIES | $ | - | $ | 180,610 | $ | 180,610 | ||||||
MEMBERS’ DEFICIT | ||||||||||||
Member Contrtibution | 16,800 | $ | - | $ | 1,505,700 | |||||||
Accumulated Deficit | $ | - | $ | (80,000 | ) | $ | (80,000 | ) | ||||
TOTAL MEMBERS’ DEFICIT | $ | 16,800 | $ | (80,000 | ) | $ | 1,425,700 | |||||
TOTAL LIABILITIES AND MEMBERS’ EQUITY | $ | 16,800 | $ | 100,610 | $ | 1,606,310 |
See Accompanying Notes to the Financial Statements
F-7
December 31, 2021 | ||||||||
Series Wine #2020PAVIE | Series Wine #2020CHBL | |||||||
ASSETS | ||||||||
CURRENT ASSETS | ||||||||
Cash and Cash Equivalents | ||||||||
Prepaid Expenses | $ | - | $ | - | ||||
TOTAL CURRENT ASSETS | $ | - | $ | - | ||||
LONG TERM ASSETS | ||||||||
Deferred Offering Costs | $ | - | $ | - | ||||
Investments | $ | 22,990 | $ | 11,580 | ||||
TOTAL LONG TERM ASSETS | $ | 22,990 | $ | 11,580 | ||||
TOTAL ASSETS | $ | 22,990 | $ | 11,580 | ||||
LIABILITIES AND MEMBERS’ EQUITY | ||||||||
CURRENT LIABILITIES | ||||||||
Due to Members | $ | - | $ | - | ||||
TOTAL CURRENT LIABILITIES | $ | - | $ | - | ||||
TOTAL LIABILITIES | $ | - | $ | - | ||||
MEMBERS’ DEFICIT | ||||||||
Member Contrtibution | $ | 22,990 | $ | 11,580 | ||||
Accumulated Deficit | $ | - | $ | - | ||||
TOTAL MEMBERS’ DEFICIT | $ | 22,990 | $ | 11,580 | ||||
TOTAL LIABILITIES AND MEMBERS’ EQUITY | $ | 22,990 | $ | 11,580 |
See Accompanying Notes to the Financial Statements
F-8
December 31, 2021 | ||||||||||||||||||||
Series Wine #2020AUSO | Series Wine #2020ANGE | Series Wine #2020CERT | Series Wine #2016CHAM | Series Sports #JAMESREFRACTOR | ||||||||||||||||
ASSETS | ||||||||||||||||||||
CURRENT ASSETS | ||||||||||||||||||||
Cash and Cash Equivalents | - | |||||||||||||||||||
Prepaid Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT ASSETS | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
LONG TERM ASSETS | ||||||||||||||||||||
Deferred Offering Costs | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Investments | $ | 29,310 | $ | 15,270 | $ | 11,500 | $ | - | - | |||||||||||
TOTAL LONG TERM ASSETS | $ | 29,310 | $ | 15,270 | $ | 11,500 | $ | - | $ | - | ||||||||||
TOTAL ASSETS | $ | 29,310 | $ | 15,270 | $ | 11,500 | $ | - | $ | - | ||||||||||
LIABILITIES AND MEMBERS’ EQUITY | ||||||||||||||||||||
CURRENT LIABILITIES | ||||||||||||||||||||
Due to Members | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
MEMBERS’ DEFICIT | ||||||||||||||||||||
Member Contrtibution | $ | 29,310 | $ | 15,270 | $ | 11,500 | $ | - | - | |||||||||||
Accumulated Deficit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL MEMBERS’ DEFICIT | $ | 29,310 | $ | 15,270 | $ | 11,500 | $ | - | $ | - | ||||||||||
TOTAL LIABILITIES AND MEMBERS’ EQUITY | $ | 29,310 | $ | 15,270 | $ | 11,500 | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-9
December 31, 2021 | ||||||||||||||||||||
Series Wine #2015HBRI | Series Wine #2016BONMA | Series Wine #2016MUSIG | Series Wine #2009PETRUS | Series Wine #2010PETRUS | ||||||||||||||||
ASSETS | ||||||||||||||||||||
CURRENT ASSETS | ||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||
Prepaid Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT ASSETS | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
LONG TERM ASSETS | ||||||||||||||||||||
Deferred Offering Costs | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Investments | - | - | - | - | - | |||||||||||||||
TOTAL LONG TERM ASSETS | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL ASSETS | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
LIABILITIES AND MEMBERS’ EQUITY | ||||||||||||||||||||
CURRENT LIABILITIES | ||||||||||||||||||||
Due to Members | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
MEMBERS’ DEFICIT | ||||||||||||||||||||
Member Contrtibution | - | - | - | - | - | |||||||||||||||
Accumulated Deficit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL MEMBERS’ DEFICIT | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL LIABILITIES AND MEMBERS’ EQUITY | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-10
December 31, 2021 | ||||||||||||||||||||
Series Art #WARHOLMARILYN | Series Sports #JORDANROOKIE | Series Wine #2012CRISTAL | Series Wine #2008DOMP | Series Wine #2012DOMP | ||||||||||||||||
ASSETS | ||||||||||||||||||||
CURRENT ASSETS | ||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||
Prepaid Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT ASSETS | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
LONG TERM ASSETS | ||||||||||||||||||||
Deferred Offering Costs | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Investments | - | - | - | - | - | |||||||||||||||
TOTAL LONG TERM ASSETS | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL ASSETS | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
LIABILITIES AND MEMBERS’ EQUITY | ||||||||||||||||||||
CURRENT LIABILITIES | ||||||||||||||||||||
Due to Members | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
MEMBERS’ DEFICIT | ||||||||||||||||||||
Member Contrtibution | - | - | - | - | - | |||||||||||||||
Accumulated Deficit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL MEMBERS’ DEFICIT | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL LIABILITIES AND MEMBERS’ EQUITY | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-11
December 31, 2021 | ||||||||||||||||||||
Series Wine #2006DOMP | Series Art #BANKSYLAUGH | Series Watch #ROLEX6265 | Series Watch #PEPSI | Unallocated | ||||||||||||||||
ASSETS | ||||||||||||||||||||
CURRENT ASSETS | ||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||
Prepaid Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
TOTAL CURRENT ASSETS | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
LONG TERM ASSETS | ||||||||||||||||||||
Deferred Offering Costs | $ | - | $ | - | $ | - | $ | - | $ | 100,610 | ||||||||||
Investments | - | - | - | - | $ | - | ||||||||||||||
TOTAL LONG TERM ASSETS | $ | - | $ | - | $ | - | $ | - | $ | 100,610 | ||||||||||
TOTAL ASSETS | $ | - | $ | - | $ | - | $ | - | $ | 100,610 | ||||||||||
LIABILITIES AND MEMBERS’ EQUITY | ||||||||||||||||||||
CURRENT LIABILITIES | ||||||||||||||||||||
Due to Members | $ | - | $ | - | $ | - | $ | - | $ | 180,610 | ||||||||||
TOTAL CURRENT LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | 180,610 | ||||||||||
TOTAL LIABILITIES | $ | - | $ | - | $ | - | $ | - | $ | 180,610 | ||||||||||
MEMBERS’ DEFICIT | ||||||||||||||||||||
Member Contrtibution | - | - | - | - | $ | - | ||||||||||||||
Accumulated Deficit | $ | - | $ | - | $ | - | $ | - | $ | (67,500 | ) | |||||||||
TOTAL MEMBERS’ DEFICIT | $ | - | $ | - | $ | - | $ | - | $ | (67,500 | ) | |||||||||
TOTAL LIABILITIES AND MEMBERS’ EQUITY | $ | - | $ | - | $ | - | $ | - | $ | 113,110 |
See Accompanying Notes to the Financial Statements
F-12
December 31, 2021 | ||||
Consolidated | ||||
ASSETS | ||||
CURRENT ASSETS | ||||
Cash and Cash Equivalents | - | |||
Prepaid Expenses | $ | - | ||
TOTAL CURRENT ASSETS | $ | - | ||
LONG TERM ASSETS | ||||
Deferred Offering Costs | $ | 100,610 | ||
Investments | $ | 90,650 | ||
TOTAL LONG TERM ASSETS | $ | 191,260 | ||
TOTAL ASSETS | $ | 191,260 | ||
LIABILITIES AND MEMBERS’ EQUITY | ||||
CURRENT LIABILITIES | ||||
Due to Members | $ | 180,610 | ||
TOTAL CURRENT LIABILITIES | $ | 180,610 | ||
TOTAL LIABILITIES | $ | 180,610 | ||
MEMBERS’ DEFICIT | ||||
Member Contrtibution | $ | 90,650 | ||
Accumulated Deficit | $ | (67,500 | ) | |
TOTAL MEMBERS’ DEFICIT | $ | 23,150 | ||
TOTAL LIABILITIES AND MEMBERS’ EQUITY | $ | 203,760 |
See Accompanying Notes to the Financial Statements
F-13
STARTENGINE COLLECTIBLES FUND I LLC
CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE PERIOD FROM JANUARY 1, 2022, TO
DECEMBER 31, 2022
January 1, 2022 to December 31, 2022 | ||||||||||||||||||||
Series Wine #2020PAVIE | Series Wine #2020CHBL | Series Wine #2020AUSO | Series Wine #2020ANGE | Series Wine #2020CERT | ||||||||||||||||
Operating Income | ||||||||||||||||||||
Revenue | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Gross Profit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Operating Expense | ||||||||||||||||||||
General and administrative | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Total Operating Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Loss from Operations | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Net Loss | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-14
January 1, 2022 to December 31, 2022 | ||||||||||||||||||||
Series Wine #2016CHAM | Series Sports #JAMESREFRACTOR | Series Wine #2015HBRI | Series Wine #2016BONMA | Series Wine #2016MUSIG | ||||||||||||||||
Operating Income | ||||||||||||||||||||
Revenue | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Gross Profit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Operating Expense | ||||||||||||||||||||
General and administrative | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Total Operating Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Loss from Operations | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Net Loss | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-15
January 1, 2022 to December 31, 2022 | ||||||||||||||||||||
Series Wine #2009PETRUS | Series Wine #2010PETRUS | Series Art #WARHOLMARILYN | Series Sports #JORDANROOKIE | Series Wine #2012CRISTAL | ||||||||||||||||
Operating Income | ||||||||||||||||||||
Revenue | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Gross Profit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Operating Expense | ||||||||||||||||||||
General and administrative | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Total Operating Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Loss from Operations | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Net Loss | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-16
January 1, 2022 to December 31, 2022 | ||||||||||||||||||||
Series Wine #2008DOMP | Series Wine #2012DOMP | Series Wine #2006DOMP | Series Art #BANKSYLAUGH | Series Watch #ROLEX6265 | ||||||||||||||||
Operating Income | ||||||||||||||||||||
Revenue | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Gross Profit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Operating Expense | ||||||||||||||||||||
General and administrative | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Total Operating Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Loss from Operations | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Net Loss | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-17
January 1, 2022 to December 31, 2022 | ||||||||||||
Series Watch #PEPSI | Unallocated | Consolidated | ||||||||||
Operating Income | ||||||||||||
Revenue | $ | - | $ | - | $ | - | ||||||
Gross Profit | $ | - | $ | - | $ | - | ||||||
Operating Expense | ||||||||||||
General and administrative | $ | - | $ | 12,500 | $ | 12,500 | ||||||
Total Operating Expenses | $ | - | $ | 12,500 | $ | 12,500 | ||||||
Loss from Operations | $ | - | $ | (12,500 | ) | $ | (12,500 | ) | ||||
Net Loss | $ | - | $ | (12,500 | ) | $ | (12,500 | ) |
See Accompanying Notes to the Financial Statements
F-18
January 1, 2021 to December 31, 2021 | ||||||||
Series Wine #2020PAVIE | Series Wine #2020CHBL | |||||||
Operating Income | ||||||||
Revenue | $ | - | $ | - | ||||
Gross Profit | $ | - | $ | - | ||||
Operating Expense | ||||||||
General and administrative | $ | - | $ | - | ||||
Total Operating Expenses | $ | - | $ | - | ||||
Loss from Operations | $ | - | $ | - | ||||
Net Loss | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-19
January 1, 2021 to December 31, 2021 | ||||||||||||||||||||
Series Wine #2020AUSO | Series Wine #2020ANGE | Series Wine #2020CERT | Series Wine #2016CHAM | Series Sports #JAMESREFRACTOR | ||||||||||||||||
Operating Income | ||||||||||||||||||||
Revenue | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Gross Profit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Operating Expense | ||||||||||||||||||||
General and administrative | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Total Operating Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Loss from Operations | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Net Loss | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-20
January 1, 2021 to December 31, 2021 | ||||||||||||||||||||
Series Wine #2015HBRI | Series Wine #2016BONMA | Series Wine #2016MUSIG | Series Wine #2009PETRUS | Series Wine #2010PETRUS | ||||||||||||||||
Operating Income | ||||||||||||||||||||
Revenue | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Gross Profit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Operating Expense | ||||||||||||||||||||
General and administrative | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Total Operating Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Loss from Operations | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Net Loss | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-21
January 1, 2021 to December 31, 2021 | ||||||||||||||||||||
Series Art #WARHOLMARILYN | Series Sports #JORDANROOKIE | Series Wine #2012CRISTAL | Series Wine #2008DOMP | Series Wine #2012DOMP | ||||||||||||||||
Operating Income | ||||||||||||||||||||
Revenue | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Gross Profit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Operating Expense | ||||||||||||||||||||
General and administrative | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Total Operating Expenses | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Loss from Operations | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Net Loss | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-22
January 1, 2021 to December 31, 2021 | ||||||||||||||||||||
Series Wine #2006DOMP | Series Art #BANKSYLAUGH | Series Watch #ROLEX6265 | Series Watch #PEPSI | Unallocated | ||||||||||||||||
Operating Income | ||||||||||||||||||||
Revenue | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Gross Profit | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Operating Expense | ||||||||||||||||||||
General and administrative | $ | - | $ | - | $ | - | $ | - | $ | 12,500 | ||||||||||
Total Operating Expenses | $ | - | $ | - | $ | - | $ | - | $ | 12,500 | ||||||||||
Loss from Operations | $ | - | $ | - | $ | - | $ | - | $ | (12,500 | ) | |||||||||
Net Loss | $ | - | $ | - | $ | - | $ | - | $ | (12,500 | ) |
See Accompanying Notes to the Financial Statements
F-23
January 1, 2021 to December 31, 2021 | ||||
Consolidated | ||||
Operating Income | ||||
Revenue | $ | - | ||
Gross Profit | $ | - | ||
Operating Expense | ||||
General and administrative | $ | 12,500 | ||
Total Operating Expenses | $ | 12,500 | ||
Loss from Operations | $ | (12,500 | ) | |
Net Loss | $ | (12,500 | ) |
See Accompanying Notes to the Financial Statements
F-24
STARTENGINE COLLECTIBLES
FUND I LLC
CONSOLIDATED STATEMENT OF MEMBER’S EQUITY
FOR THE PERIOD FROM JANUARY 1, 2022, TO
DECEMBER 31, 2022
Series Wine #2020PAVIE | Series Wine #2020CHBL | Series Wine #2020AUSO | Series Wine #2020ANGE | Series Wine #2020CERT | ||||||||||||||||
Balance, January 1, 2021 | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Member Contributions | 22,990 | 11,580 | 29,310 | 15,270 | 11,500 | |||||||||||||||
Accumulated Deficit | - | - | - | - | - | |||||||||||||||
Net Loss | - | - | - | - | - | |||||||||||||||
Balance, December 31, 2021 | $ | 22,990 | $ | 11,580 | $ | 29,310 | $ | 15,270 | $ | 11,500 | ||||||||||
Member Contributions | - | - | - | - | - | |||||||||||||||
Accumulated Deficit | - | - | - | - | - | |||||||||||||||
Net Loss | - | - | - | - | - | |||||||||||||||
Balance, December 31, 2022 | $ | 22,990 | $ | 11,580 | $ | 29,310 | $ | 15,270 | $ | 11,500 |
See Accompanying Notes to the Financial Statements
F-25
Series Wine #2016CHAM | Series Sports #JAMESREFRACTOR | Series Wine #2015HBRI | Series Wine #2016BONMA | Series Wine #2016MUSIG | ||||||||||||||||
Balance, January 1, 2021 | - | - | - | - | - | |||||||||||||||
Member Contributions | - | - | - | - | - | |||||||||||||||
Accumulated Deficit | - | - | - | - | - | |||||||||||||||
Net Loss | - | - | - | - | - | |||||||||||||||
Balance, December 31, 2021 | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Member Contributions | 5,160 | 146,880 | 41,380 | 28,970 | 21,230 | |||||||||||||||
Accumulated Deficit | - | - | - | - | ||||||||||||||||
Net Loss | - | - | - | - | ||||||||||||||||
Balance, December 31, 2022 | $ | 5,160 | $ | 146,880 | $ | 41,380 | $ | 28,970 | $ | 21,230 |
See Accompanying Notes to the Financial Statements
F-26
Series Wine #2009PETRUS | Series Wine #2010PETRUS | Series Art #WARHOLMARILYN | Series Sports #JORDANROOKIE | Series Wine #2012CRISTAL | ||||||||||||||||
Balance, January 1, 2021 | - | - | - | - | - | |||||||||||||||
Member Contributions | - | - | - | - | - | |||||||||||||||
Accumulated Deficit | - | - | - | - | - | |||||||||||||||
Net Loss | - | - | - | - | - | |||||||||||||||
Balance, December 31, 2021 | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Member Contributions | 59,360 | 59,530 | 302,400 | 432,000 | 11,950 | |||||||||||||||
Accumulated Deficit | - | - | - | - | - | |||||||||||||||
Net Loss | - | - | - | - | - | |||||||||||||||
Balance, December 31, 2022 | $ | 59,360 | $ | 59,530 | $ | 302,400 | $ | 432,000 | $ | 11,950 |
See Accompanying Notes to the Financial Statements
F-27
Series Wine #2008DOMP | Series Wine #2012DOMP | Series Wine #2006DOMP | Series Art #BANKSYLAUGH | Series Watch #ROLEX6265 | ||||||||||||||||
Balance, January 1, 2021 | - | - | - | - | - | |||||||||||||||
Member Contributions | - | - | - | - | - | |||||||||||||||
Accumulated Deficit | - | - | - | - | - | |||||||||||||||
Net Loss | - | - | - | - | - | |||||||||||||||
Balance, December 31, 2021 | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Member Contributions | 19,040 | 14,720 | 16,230 | 155,400 | 84,000 | |||||||||||||||
Accumulated Deficit | - | - | - | - | - | |||||||||||||||
Net Loss | - | - | - | - | - | |||||||||||||||
Balance, December 31, 2022 | $ | 19,040 | $ | 14,720 | $ | 16,230 | $ | 155,400 | $ | 84,000 |
See Accompanying Notes to the Financial Statements
F-28
Series Watch #PEPSI | Unallocated | Consolidated | ||||||||||
Balance, January 1, 2021 | - | - | - | |||||||||
Member Contributions | - | - | - | |||||||||
Accumulated Deficit | - | - | - | |||||||||
Net Loss | - | - | - | |||||||||
Balance, December 31, 2021 | $ | - | $ | (67,500 | ) | $ | 23,150 | |||||
Member Contributions | 16,800 | - | 1,415,050 | |||||||||
Accumulated Deficit | - | - | - | |||||||||
Net Loss | - | (12,500 | ) | (12,500 | ) | |||||||
Balance, December 31, 2022 | $ | 16,800 | $ | (80,000 | ) | $ | 1,425,700 |
See Accompanying Notes to the Financial Statements
F-29
STARTENGINE COLLECTIBLES FUND I LLC
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD FROM
JANUARY 1, 2022, TO
DECEMBER 31, 2022
January 1, 2022 to December 31, 2022 | ||||||||||||||||||||
Series Wine #2020PAVIE | Series Wine #2020CHBL | Series Wine #2020AUSO | Series Wine #2020ANGE | Series Wine #2020CERT | ||||||||||||||||
Cash Flows From Operating Activities: | ||||||||||||||||||||
Net Income/(Loss) For the Period | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Prepaid Expenses | - | - | - | - | - | |||||||||||||||
Net Cash Flows Used In Operating Activities | - | - | - | - | - | |||||||||||||||
Cash Flows From Investing Activities: | ||||||||||||||||||||
Investments | - | - | - | - | - | |||||||||||||||
Net Cash Flows Provided By Investing Activities | - | - | - | - | - | |||||||||||||||
Cash Flows From Financing Activities: | ||||||||||||||||||||
Due to Members | - | - | - | - | - | |||||||||||||||
Deferred Offering Costs | - | - | - | - | - | |||||||||||||||
Member Contrtibution | - | - | - | - | - | |||||||||||||||
Net Cash Flows Provided By/(Used In) Financing Activities | - | - | - | - | - | |||||||||||||||
Cash at Beginning of Period | - | - | - | - | - | |||||||||||||||
Net Increase (Decrease) In Cash | - | - | - | - | - | |||||||||||||||
Cash at End of Period | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-30
January 1, 2022 to December 31, 2022 | ||||||||||||||||||||
Series Wine #2016CHAM | Series Sports #JAMESREFRACTOR | Series Wine #2015HBRI | Series Wine #2016BONMA | Series Wine #2016MUSIG | ||||||||||||||||
Cash Flows From Operating Activities: | ||||||||||||||||||||
Net Income/(Loss) For the Period | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Prepaid Expenses | - | - | - | - | - | |||||||||||||||
Net Cash Flows Used In Operating Activities | - | - | - | - | - | |||||||||||||||
Cash Flows From Investing Activities: | ||||||||||||||||||||
Investments | (5,160 | ) | (146,880 | ) | (41,380 | ) | (28,970 | ) | (21,230 | ) | ||||||||||
Net Cash Flows Provided By Investing Activities | (5,160 | ) | (146,880 | ) | (41,380 | ) | (28,970 | ) | (21,230 | ) | ||||||||||
Cash Flows From Financing Activities: | ||||||||||||||||||||
Due to Members | - | - | - | - | - | |||||||||||||||
Deferred Offering Costs | - | - | - | - | - | |||||||||||||||
Member Contrtibution | 5,160 | 146,880 | 41,380 | 28,970 | 21,230 | |||||||||||||||
Net Cash Flows Provided By/(Used In) Financing Activities | 5,160 | 146,880 | 41,380 | 28,970 | 21,230 | |||||||||||||||
Cash at Beginning of Period | - | - | - | - | - | |||||||||||||||
Net Increase (Decrease) In Cash | - | - | - | - | - | |||||||||||||||
Cash at End of Period | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-31
January 1, 2022 to December 31, 2022 | ||||||||||||||||||||
Series Wine #2009PETRUS | Series Wine #2010PETRUS | Series Art #WARHOLMARILYN | Series Sports #JORDANROOKIE | Series Wine #2012CRISTAL | ||||||||||||||||
Cash Flows From Operating Activities: | ||||||||||||||||||||
Net Income/(Loss) For the Period | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Prepaid Expenses | - | - | - | - | - | |||||||||||||||
Net Cash Flows Used In Operating Activities | - | - | - | - | - | |||||||||||||||
Cash Flows From Investing Activities: | ||||||||||||||||||||
Investments | (59,360 | ) | (59,530 | ) | (302,400 | ) | (432,000 | ) | (11,950 | ) | ||||||||||
Net Cash Flows Provided By Investing Activities | (59,360 | ) | (59,530 | ) | (302,400 | ) | (432,000 | ) | (11,950 | ) | ||||||||||
Cash Flows From Financing Activities: | ||||||||||||||||||||
Due to Members | - | - | - | - | - | |||||||||||||||
Deferred Offering Costs | - | - | - | - | - | |||||||||||||||
Member Contrtibution | 59,360 | 59,530 | 302,400 | 432,000 | 11,950 | |||||||||||||||
Net Cash Flows Provided By/(Used In) Financing Activities | 59,360 | 59,530 | 302,400 | 432,000 | 11,950 | |||||||||||||||
Cash at Beginning of Period | - | - | - | - | - | |||||||||||||||
Net Increase (Decrease) In Cash | - | - | - | - | - | |||||||||||||||
Cash at End of Period | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-32
January 1, 2022 to December 31, 2022 | ||||||||||||||||||||
Series Wine #2008DOMP | Series Wine #2012DOMP | Series Wine #2006DOMP | Series Art #BANKSYLAUGH | Series Watch #ROLEX6265 | ||||||||||||||||
Cash Flows From Operating Activities: | ||||||||||||||||||||
Net Income/(Loss) For the Period | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Prepaid Expenses | - | - | - | - | - | |||||||||||||||
Net Cash Flows Used In Operating Activities | - | - | - | - | - | |||||||||||||||
Cash Flows From Investing Activities: | ||||||||||||||||||||
Investments | (19,040 | ) | (14,720 | ) | (16,230 | ) | (155,400 | ) | (84,000 | ) | ||||||||||
Net Cash Flows Provided By Investing Activities | (19,040 | ) | (14,720 | ) | (16,230 | ) | (155,400 | ) | (84,000 | ) | ||||||||||
Cash Flows From Financing Activities: | ||||||||||||||||||||
Due to Members | - | - | - | - | - | |||||||||||||||
Deferred Offering Costs | - | - | - | - | - | |||||||||||||||
Member Contrtibution | 19,040 | 14,720 | 16,230 | 155,400 | 84,000 | |||||||||||||||
Net Cash Flows Provided By/(Used In) Financing Activities | 19,040 | 14,720 | 16,230 | 155,400 | 84,000 | |||||||||||||||
Cash at Beginning of Period | - | - | - | - | - | |||||||||||||||
Net Increase (Decrease) In Cash | - | - | - | - | - | |||||||||||||||
Cash at End of Period | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-33
January 1, 2022 to December 31, 2022 | ||||||||||||
Series Watch #PEPSI | Unallocated | Consolidated | ||||||||||
Cash Flows From Operating Activities: | ||||||||||||
Net Income/(Loss) For the Period | $ | - | $ | (12,500 | ) | $ | (12,500 | ) | ||||
Prepaid Expenses | - | 12,500 | 12,500 | |||||||||
Net Cash Flows Used In Operating Activities | - | - | - | |||||||||
Cash Flows From Investing Activities: | ||||||||||||
Investments | (16,800 | ) | - | (1,415,050 | ) | |||||||
Net Cash Flows Provided By Investing Activities | (16,800 | ) | - | (1,415,050 | ) | |||||||
Cash Flows From Financing Activities: | ||||||||||||
Due to Members | - | - | - | |||||||||
Deferred Offering Costs | - | - | - | |||||||||
Member Contrtibution | 16,800 | - | 1,415,050 | |||||||||
Net Cash Flows Provided By/(Used In) Financing Activities | 16,800 | - | 1,415,050 | |||||||||
Cash at Beginning of Period | - | - | - | |||||||||
Net Increase (Decrease) In Cash | - | - | - | |||||||||
Cash at End of Period | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-34
January 1, 2021 to December 31, 2021 | ||||||||
Series Wine #2020PAVIE | Series Wine #2020CHBL | |||||||
Cash Flows From Operating Activities: | ||||||||
Net Income/(Loss) For the Period | $ | - | $ | - | ||||
Prepaid Expenses | - | - | ||||||
Net Cash Flows Used In Operating Activities | - | - | ||||||
Cash Flows From Investing Activities: | ||||||||
Investments | (22,990 | ) | (11,580 | ) | ||||
Net Cash Flows Provided By Investing Activities | (22,990 | ) | (11,580 | ) | ||||
Cash Flows From Financing Activities: | ||||||||
Due to Members | - | - | ||||||
Deferred Offering Costs | - | - | ||||||
Member Contrtibution | 22,990 | 11,580 | ||||||
Net Cash Flows Provided By/(Used In) Financing Activities | 22,990 | 11,580 | ||||||
Cash at Beginning of Period | - | - | ||||||
Net Increase (Decrease) In Cash | - | - | ||||||
Cash at End of Period | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-35
January 1, 2021 to December 31, 2021 | ||||||||||||||||||||
Series Wine #2020AUSO | Series Wine #2020ANGE | Series Wine #2020CERT | Series Wine #2016CHAM | Series Sports #JAMESREFRACTOR | ||||||||||||||||
Cash Flows From Operating Activities: | ||||||||||||||||||||
Net Income/(Loss) For the Period | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Prepaid Expenses | - | - | - | - | - | |||||||||||||||
Net Cash Flows Used In Operating Activities | - | - | - | - | - | |||||||||||||||
Cash Flows From Investing Activities: | ||||||||||||||||||||
Investments | (29,310 | ) | (15,270 | ) | (11,500 | ) | - | - | ||||||||||||
Net Cash Flows Provided By Investing Activities | (29,310 | ) | (15,270 | ) | (11,500 | ) | - | - | ||||||||||||
Cash Flows From Financing Activities: | ||||||||||||||||||||
Due to Members | - | - | - | - | - | |||||||||||||||
Deferred Offering Costs | - | - | - | - | - | |||||||||||||||
Member Contrtibution | 29,310 | 15,270 | 11,500 | - | - | |||||||||||||||
Net Cash Flows Provided By/(Used In) Financing Activities | 29,310 | 15,270 | 11,500 | - | - | |||||||||||||||
Cash at Beginning of Period | - | - | - | - | - | |||||||||||||||
Net Increase (Decrease) In Cash | - | - | - | - | - | |||||||||||||||
Cash at End of Period | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-36
January 1, 2021 to December 31, 2021 | ||||||||||||||||||||
Series Wine #2015HBRI | Series Wine #2016BONMA | Series Wine #2016MUSIG | Series Wine #2009PETRUS | Series Wine #2010PETRUS | ||||||||||||||||
Cash Flows From Operating Activities: | ||||||||||||||||||||
Net Income/(Loss) For the Period | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Prepaid Expenses | - | - | - | - | - | |||||||||||||||
Net Cash Flows Used In Operating Activities | - | - | - | - | - | |||||||||||||||
Cash Flows From Investing Activities: | ||||||||||||||||||||
Investments | - | - | - | - | - | |||||||||||||||
Net Cash Flows Provided By Investing Activities | - | - | - | - | - | |||||||||||||||
Cash Flows From Financing Activities: | ||||||||||||||||||||
Due to Members | - | - | - | - | - | |||||||||||||||
Deferred Offering Costs | - | - | - | - | - | |||||||||||||||
Member Contrtibution | - | - | - | - | - | |||||||||||||||
Net Cash Flows Provided By/(Used In) Financing Activities | - | - | - | - | - | |||||||||||||||
Cash at Beginning of Period | - | - | - | - | - | |||||||||||||||
Net Increase (Decrease) In Cash | - | - | - | - | - | |||||||||||||||
Cash at End of Period | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-37
January 1, 2021 to December 31, 2021 | ||||||||||||||||||||
Series Art #WARHOLMARILYN | Series Sports #JORDANROOKIE | Series Wine #2012CRISTAL | Series Wine #2008DOMP | Series Wine #2012DOMP | ||||||||||||||||
Cash Flows From Operating Activities: | ||||||||||||||||||||
Net Income/(Loss) For the Period | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Prepaid Expenses | - | - | - | - | - | |||||||||||||||
Net Cash Flows Used In Operating Activities | - | - | - | - | - | |||||||||||||||
Cash Flows From Investing Activities: | ||||||||||||||||||||
Investments | - | - | - | - | - | |||||||||||||||
Net Cash Flows Provided By Investing Activities | - | - | - | - | - | |||||||||||||||
Cash Flows From Financing Activities: | ||||||||||||||||||||
Due to Members | - | - | - | - | - | |||||||||||||||
Deferred Offering Costs | - | - | - | - | - | |||||||||||||||
Member Contrtibution | - | - | - | - | - | |||||||||||||||
Net Cash Flows Provided By/(Used In) Financing Activities | - | - | - | - | - | |||||||||||||||
Cash at Beginning of Period | - | - | - | - | - | |||||||||||||||
Net Increase (Decrease) In Cash | - | - | - | - | - | |||||||||||||||
Cash at End of Period | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-38
January 1, 2021 to December 31, 2021 | ||||||||||||||||||||
Series Wine #2006DOMP | Series Art #BANKSYLAUGH | Series Watch #ROLEX6265 | Series Watch #PEPSI | Unallocated | ||||||||||||||||
Cash Flows From Operating Activities: | ||||||||||||||||||||
Net Income/(Loss) For the Period | $ | - | $ | - | $ | - | $ | - | $ | (12,500 | ) | |||||||||
Prepaid Expenses | - | - | - | - | (12,500 | ) | ||||||||||||||
Net Cash Flows Used In Operating Activities | - | - | - | - | (25,000 | ) | ||||||||||||||
Cash Flows From Investing Activities: | ||||||||||||||||||||
Investments | - | - | - | - | - | |||||||||||||||
Net Cash Flows Provided By Investing Activities | - | - | - | - | - | |||||||||||||||
Cash Flows From Financing Activities: | ||||||||||||||||||||
Due to Members | - | - | - | - | 85,610 | |||||||||||||||
Deferred Offering Costs | - | - | - | - | (60,610 | ) | ||||||||||||||
Member Contrtibution | - | - | - | - | - | |||||||||||||||
Net Cash Flows Provided By/(Used In) Financing Activities | - | - | - | - | 25,000 | |||||||||||||||
Cash at Beginning of Period | - | - | - | - | - | |||||||||||||||
Net Increase (Decrease) In Cash | - | - | - | - | - | |||||||||||||||
Cash at End of Period | $ | - | $ | - | $ | - | $ | - | $ | - |
See Accompanying Notes to the Financial Statements
F-39
January 1, 2021 to December 31, 2021 | ||||
Consolidated | ||||
Cash Flows From Operating Activities: | ||||
Net Income/(Loss) For the Period | $ | (12,500 | ) | |
Prepaid Expenses | (12,500 | ) | ||
Net Cash Flows Used In Operating Activities | (25,000 | ) | ||
Cash Flows From Investing Activities: | ||||
Investments | (90,650 | ) | ||
Net Cash Flows Provided By Investing Activities | (90,650 | ) | ||
Cash Flows From Financing Activities: | ||||
Due to Members | 85,610 | |||
Deferred Offering Costs | (60,610 | ) | ||
Member Contrtibution | 90,650 | |||
Net Cash Flows Provided By/(Used In) Financing Activities | 115,650 | |||
Cash at Beginning of Period | - | |||
Net Increase (Decrease) In Cash | - | |||
Cash at End of Period | $ | - |
See Accompanying Notes to the Financial Statements
F-40
STARTENGINE COLLECTIBLES FUND I LLC
NOTES TO FINANCIAL STATEMENTS
NOTE 1 – NATURE OF OPERATIONS
StartEngine Collectibles Fund I LLC was formed on October 14, 2020 (“Inception”) in the State of Delaware. The financial statements of StartEngine Collectibles Fund I LLC, (which may be referred to as the "Company", "we," "us," or "our") are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s headquarters are in Burbank, California.
The purpose of the Company and, unless otherwise provided in the applicable Series Designation, shall be to (a) promote, conduct or engage in, directly or indirectly, any business, purpose or activity that lawfully may be conducted by a series limited liability company organized pursuant to the Delaware Act, (b) acquire, maintain and sell collectibles and other assets and, to exercise all of the rights and powers conferred upon the Company and each Series with respect to its interests therein, and (c) conduct any and all activities related or incidental to the foregoing purposes.
The Managing Member of the Company, StartEngine Assets, LLC, may, at any time and from time to time cause the Company to establish in writing (each, a “Series Designation”) one or more series as such term is used under Section 18-215 of the Delaware Act (each a “Series”). The Series Designation shall relate solely to the Series established thereby and shall not be construed: (i) to affect the terms and conditions of any other Series, or (ii) to designate, fix or determine the rights, powers, authority, privileges, preferences, duties, responsibilities, liabilities and obligations in respect of Shares associated with any other Series, or the Members associated therewith. The terms and conditions for each Series shall be as set forth in the operating agreement and the Series Designation, as applicable, for the Series.
Management Plans and Going Concern
The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. To date, the Company has incurred net losses and has no working capital. We will rely heavily on financing from both our Administrative Manager and proposed Asset Manager and have not been guaranteed funding from either party to ensure that we can continually meet our obligations. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern within one year after the date that the financial statements are issued.
During the next 12 months, we intend to fund the Company’s operations through revenues from operations, member contributions or advances, and security offerings. There are no assurances that we will be able to raise capital on terms acceptable to the Company. If the Company is unable to obtain enough additional capital, it may be required to reduce the scope of planned operations, which could harm the business financial condition and operating results. The financial statements do not include any adjustments that might result from these uncertainties.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, and the reported amount of expenses during the reporting periods. Actual results could materially differ from these estimates. It is reasonably possible that changes in estimates will occur in the near term.
F-41
Fair Value of Financial Instruments
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants as of the measurement date. Applicable accounting guidance provides an established hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors that market participants would use in valuing the asset or liability. There are three levels of inputs that may be used to measure fair value:
Level 1 |
- Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. |
Level 2 | - Include other inputs that are directly or indirectly observable in the marketplace. |
Level 3 | - Unobservable inputs which are supported by little or no market activity. |
The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
Fair-value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2021. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values.
Cash and Cash Equivalents
For the purpose of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents.
Revenue Recognition
The Company will recognize revenue under the guidance of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers. Under ASC 606, the Company 1) identifies the contract with the customer 2) identifies the performance obligations in the contract 3) determines the transaction price, 4) determines if an allocation of that transaction price is required to the performance obligations in the contract, and 5) recognizes revenue when or as the companies satisfies a performance obligation. To date, the Company has not recognized any revenue from intended operations.
Income Taxes
As of December 31, 2022, the Company has elected to be taxed a C Corporation rather than a Limited Liability Company (LLC). Under these provisions, the Company will pay federal corporate income taxes on its taxable income. The Company will pay state franchise taxes. Each of the Series may elect to be taxed as a C corporation and as such will be subject to income tax at the Series level. The Company is subject to U.S. federal, state, and local income tax examinations by tax authorities for all periods since Inception. The Company currently does not have any ongoing tax examination.
Risks and Uncertainties
The Company’s operations are subject to compliance with new laws and regulations. Significant changes to regulations governing the way the Company derives revenues could impact the company negatively. Technological and advancements and updates as well as maintaining compliance standards are required to maintain the Company’s operations.
F-42
Concentration of Credit Risk
The Company will maintain its cash with a major financial institution located in the United States of America which it believes to be credit worthy. Balances are insured by the Federal Deposit Insurance Corporation up to $250,000. At times, the Company may maintain balances in excess of the federally insured limits.
Recent Accounting Pronouncements
The Financial Accounting Standards Board issues Accounting Standards Updates (“ASU”) to amend the authoritative literature in Accounting Standards Codification. Management believes that those issued to date are either already included in the Company’s accounting or (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to us or (iv) are not expected to have a significant impact our financial statements.
NOTE 3 – DUE TO RELATED PARTIES
For the Series established in 2021 and 2022, the Administrative Manager has chosen not to allocate costs to each Series.
In the normal course of business, the Series have and will acquire Underlying Assets from the Manager in exchange for cash or promissory notes, which may or may not be interest bearing.
Because these are related party transactions, no guarantee can be made that the terms of the arrangements are at arm’s length.
The Company’s Administrative Manager intends to establish other companies that intend to raise funds and operate under their intended business plan. Although there are no transactions with related entities other than described above, the Administrative Manager is able to influence the Company’s operations for the benefit of other companies under its control.
Economic Dependency
The Company is dependent on its Administrative Manager and proposed Asset Manager to provide certain services that are essential to the Company, including operational decisions, security offerings, as well as other administrative responsibilities for the Company including accounting services and investor relations. As a result of these relationships, the Company is dependent upon the Administrative and proposed Asset Manager and their affiliates. In the event that these companies were unable to provide the Company with the respective services, the Company would be required to find alternative providers of these services.
NOTE 4 – COMMITMENTS AND CONTINGENCIES
We are currently not involved with or know of any pending or threatening litigation against the Company or any of its officers.
NOTE 5 – SUBSEQUENT EVENTS
The Company has evaluated subsequent events that occurred after December 31, 2022 through April 11, 2023. There have been no events or transactions during this time which would have a material effect on these financial statements.
F-43
SIGNATURES
Pursuant to the requirements of Regulation A, the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form 1-A and has duly caused this Form 1-K/A to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Los Angeles, State of California, on September 25, 2023.
STARTENGINE COLLECTIBLES FUND I LLC | ||
By: | StartEngine Assets LLC, its Managing Member | |
By: | /s/ Johanna Cronin | |
Johanna Cronin Manager |
This Form 1-K has been signed by the following persons, in the capacities, and on the dates indicated.
SIGNATURE | TITLE | DATE | |||
StartEngine Assets LLC | |||||
By: | /s/ Johanna Cronin | Principal Executive Officer and Principal Financial | September 25, 2023 | ||
Name: Johanna Cronin | and Accounting Officer | ||||
Title: Manager |
47
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