{ "schema_version": "1.0.0", "generated_at": "2026-10-08T18:00:25.503Z", "total_count": 1103, "total_record_count": 25, "securities": [ { "schema_version": "1.0.0", "audit_status": "audited_scope_limited", "issuer_slug": "dcfc-holdings-llc", "security_slug": "membership-units", "issuer_legal_name": "DCFC Holdings, LLC", "issuer_address": "3401 E. 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It reports on a consolidated basis through its subsidiaries (Detroit City Football Club, LLC; Detroit City Futbol League LLC; 402310 Holdings LLC; StandishCo Holdings LLC) and had 70 employees. EIN 47-2662769 (issuer-furnished; not stated in the Form C-AR). Fiscal year end December 31. Telephone (313) 656-2480; website www.detcityfc.com. Source filing: Form C-AR dated April 30, 2026 for the fiscal year ended December 31, 2025. There is no public trading market for the Company's securities. H Block, LLC holds 34.59% of Class A units and is the only beneficial owner of more than 20% of the voting units. Class B units sold under Regulation Crowdfunding are held of record by a custodian for the beneficial investors, subject to a one-year transfer restriction. Dilutive securities: warrants for up to 15,460 Class A units (through December 31, 2027) and notes convertible into Class B units.", "officers_and_directors": [ { "name": "Sean Mann", "title": "Chief Executive Officer; Manager" }, { "name": "Todd Kropp", "title": "Chief Operating Officer; Manager" }, { "name": "Alexander Wright", "title": "Chief Creative Officer; Manager" }, { "name": "David Dwaihy", "title": "Chief of Soccer Development; Manager" }, { "name": "Andrew Flynn", "title": "Chief Revenue Officer", "since": "2025-01-01" }, { "name": "Bill Leonard", "title": "Chief Financial Officer", "since": "2026-02-01" }, { "name": "Matthew Schrecengost", "title": "Manager" }, { "name": "Joseph Richert", "title": "Manager" }, { "name": "John Dwan", "title": "Manager" } ], "capital_structure_as_of": "2026-01-01", "capital_structure": [ { "class_or_series": "Class A Membership Units (voting)", "authorized": null, "outstanding": 162023 }, { "class_or_series": "Class B Membership Units (non-voting)", "authorized": null, "outstanding": 50393 } ], "holders_of_record": null, "holders_of_record_as_of": null, "financial_statements": [ { "fiscal_year": "FY2025", "fiscal_year_end": "2025-12-31", "audited": false, "auditor": null, "total_assets": 36046656, "total_liabilities": 20086478, "revenue": 5737025, "net_income": -5320159, "cash": 7243531, "currency": "USD", "statement_url": null }, { "fiscal_year": "FY2024", "fiscal_year_end": "2024-12-31", "audited": true, "auditor": "Rehmann", "total_assets": 24282311, "total_liabilities": 24783716, "revenue": 5403661, "net_income": -3212548, "cash": 661496, "currency": "USD", "statement_url": null } ], "auditor_report": { "auditor": "Rehmann", "report_date": "2025-05-30", "opinion": "Unmodified opinion on the consolidated balance sheet as of December 31, 2024 ONLY. The auditors were not engaged to and did not audit, review, or compile the consolidated statements of operations, members' deficit, or cash flows, and express no opinion or any form of assurance on them. The December 31, 2025 balance sheet and FY2025 statement of operations are labeled preliminary and unaudited.", "going_concern_qualification": false, "going_concern_language": null, "adverse_opinion": false, "adverse_opinion_language": "Audit scope limitation: there is no audited or reviewed statement of operations, members' deficit, or cash flows for any period in this filing, and the most recent (FY2025) balance sheet is unaudited. Because there is no audited income statement, this disclosure does not, on its own, satisfy the audited-financials predicate typically required for a state securities-manual exemption. The Company reported a members' deficit of $(501,405) at December 31, 2024 and carries significant debt; the auditors' report contains no going-concern emphasis paragraph.", "material_weakness": false, "material_weakness_language": "None expressed. The audit was scope-limited to the December 31, 2024 balance sheet and no opinion on internal control over financial reporting was expressed.", "restatement": true, "restatement_language": "Supersedes the GUARDD internal draft Secondary Transfer Disclosure dated June 11, 2026. The draft's entire FY2025 column disagreed with the Form C-AR and has been corrected to the filing (net revenue, gross profit, total operating expense, net loss, total assets, total liabilities, equity presentation, unit counts, beneficial ownership, managers, officers, and ZIP code)." }, "tokenized_attributes": { "is_tokenized": false, "contract_address": null, "network": null, "token_standard": null, "onchain_record_role": null, "transfer_restriction_enforcement": null, "holding_period": null, "holding_period_expiration_date": null, "issuer_freeze_authority": null, "issuer_burn_authority": null, "issuer_reissue_authority": null, "smart_contract_audit_status": null, "smart_contract_auditor": null, "eligible_trading_venues": null, "collateral_or_lending_arrangement": null }, "guardd_publication_date": "2026-08-01", "last_verified_date": "2026-08-01", "next_annual_financials_due_date": "2027-04-30", "status": "Current", "status_note": "FY2025 financial statements are preliminary and unaudited; only the December 31, 2024 consolidated balance sheet has been audited (unmodified opinion, Rehmann, May 30, 2025). No audited or reviewed statement of operations exists for any period. CIK, transfer agent, legal counsel, and a specific holders-of-record count are not stated in the Form C-AR; Class B units sold under Reg CF are held of record by a custodian. 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GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/dcfc-holdings-llc/membership-units", "json_url": "https://guardd.com/disclosures/dcfc-holdings-llc/membership-units.json" }, { "schema_version": "1.0.0", "audit_status": "audited", "issuer_slug": "arrived-homes-4-llc", "security_slug": "series-interests", "issuer_legal_name": "Arrived Homes 4, LLC", "issuer_address": "1700 Westlake Ave N, Seattle, WA 98109, USA", "security_name": "Series Interests (asset-backed)", "security_class": "Common Equity — series interests", "cik": "0002015697", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": "Arrived Transfer Agent, LLC", "auditor": "Stephano Slack, LLP", "legal_counsel": "Maynard Nexsen, PLC", "business_description": "Arrived Homes 4, LLC is a Delaware series limited liability company incorporated on April 24, 2024 to permit public investment in specific single-family rental homes. Each individual series holds the specific property it acquires in a wholly-owned subsidiary; for the series offered through the offering circular, that subsidiary is an Arkansas limited liability company. Interests are offered on a series-by-series basis, with a separate closing for each offering. EIN 92-1716073. Shareholder relations: support@arrived.com, +1 (814) 277-4833.", "officers_and_directors": [ { "name": "Ryan Frazier", "title": "Chief Executive Officer; Director" }, { "name": "Sue Korn", "title": "Chief Financial Officer; Director" }, { "name": "Kenneth Cason", "title": "Chief Technology Officer; Director" }, { "name": "Alejandro Chouza", "title": "Chief Operating Officer; Director" } ], "capital_structure_as_of": "2025-12-31", "capital_structure": [ { "class_or_series": "Series 500 — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Allen — Common Equity", "authorized": 355770, "outstanding": 35577 }, { "class_or_series": "Series Annadale — Common Equity", "authorized": 415620, "outstanding": 41562 }, { "class_or_series": "Series Arcola — Common Equity", "authorized": 362350, "outstanding": 36230 }, { "class_or_series": "Series Arnold — Common Equity", "authorized": 407400, "outstanding": 36661 }, { "class_or_series": "Series Aurora — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Beanery — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Breckenridge — Common Equity", "authorized": 438420, "outstanding": 43833 }, { "class_or_series": "Series Bristol — Common Equity", "authorized": 414350, "outstanding": 41435 }, { "class_or_series": "Series Brownster — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Cher — Common Equity", "authorized": 339260, "outstanding": 33906 }, { "class_or_series": "Series Chesterfield — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Cole — Common Equity", "authorized": 352980, "outstanding": 35292 }, { "class_or_series": "Series Commodore — Common Equity", "authorized": 462890, "outstanding": 46289 }, { "class_or_series": "Series Cordelia — Common Equity", "authorized": 419550, "outstanding": 41945 }, { "class_or_series": "Series Cranberry — Common Equity", "authorized": 373870, "outstanding": 37216 }, { "class_or_series": "Series Dan — Common Equity", "authorized": 355630, "outstanding": 35563 }, { "class_or_series": "Series Flintwood — Common Equity", "authorized": 437620, "outstanding": 43762 }, { "class_or_series": "Series Funderburk — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Garnet — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Gentry — Common Equity", "authorized": 406740, "outstanding": 40674 }, { "class_or_series": "Series Gerald — Common Equity", "authorized": 396450, "outstanding": 37185 }, { "class_or_series": "Series Greengrove — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Harold — Common Equity", "authorized": 394740, "outstanding": 37072 }, { "class_or_series": "Series Hawthorn — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Holly — 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"authorized": null, "outstanding": null }, { "class_or_series": "Series Mystic — Common Equity", "authorized": 366620, "outstanding": 36662 }, { "class_or_series": "Series Nicole — Common Equity", "authorized": 363680, "outstanding": 36338 }, { "class_or_series": "Series Olivia — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Prakash — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Rattler — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Resolana — Common Equity", "authorized": 350220, "outstanding": 35012 }, { "class_or_series": "Series Rose — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Ruby — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Sachi — Common Equity", "authorized": 398950, "outstanding": 39895 }, { "class_or_series": "Series Sandridge — Common Equity", "authorized": 402660, "outstanding": 40259 }, { "class_or_series": "Series Sanford — Common Equity", "authorized": 214740, "outstanding": 21474 }, { "class_or_series": "Series Satjanon — Common Equity", "authorized": 445520, "outstanding": 44492 }, { "class_or_series": "Series Savannah — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Shawnee — Common Equity", "authorized": 374790, "outstanding": 37439 }, { "class_or_series": "Series Skitt — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Sonny — Common Equity", "authorized": 339260, "outstanding": 33926 }, { "class_or_series": "Series Sullivan — Common Equity", "authorized": 387290, "outstanding": 38729 }, { "class_or_series": "Series Travis — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Troxler — Common Equity", "authorized": 362700, "outstanding": 36270 }, { "class_or_series": "Series Tyner — Common Equity", "authorized": 502790, "outstanding": 50279 }, { "class_or_series": "Series Wendell — Common Equity", "authorized": 355060, "outstanding": 35126 }, { "class_or_series": "Series Westbury — Common Equity", "authorized": 344270, "outstanding": 34427 }, { "class_or_series": "Series Westgate — Common Equity", "authorized": 410970, "outstanding": 41097 }, { "class_or_series": "Series Winnebago — Common Equity", "authorized": null, "outstanding": null }, { "class_or_series": "Series Wizard — Common Equity", "authorized": 392930, "outstanding": 39293 }, { "class_or_series": "Series Zube — Common Equity", "authorized": null, "outstanding": null } ], "holders_of_record": null, "holders_of_record_as_of": null, "financial_statements": [ { "fiscal_year": "FY2025 (audited)", "fiscal_year_end": "2025-12-31", "audited": true, "auditor": "Stephano Slack LLC (PCAOB ID #3523)", "total_assets": 22456279, "total_liabilities": 9409129, "revenue": 898023, "net_income": -322318, "cash": 794598, "currency": "USD", "statement_url": null }, { "fiscal_year": "FY2024 (audited, comparative)", "fiscal_year_end": "2024-12-31", "audited": true, "auditor": "Stephano Slack LLC (PCAOB ID #3523)", "total_assets": 10572730, "total_liabilities": 2119104, "revenue": 173783, "net_income": -395077, "cash": 554836, "currency": "USD", "statement_url": null } ], "auditor_report": { "auditor": "Stephano Slack LLC (PCAOB ID #3523), Wayne, Pennsylvania; auditor since 2024", "report_date": "2026-04-29", "opinion": "Unqualified — the consolidated and consolidating financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024 and the results of its operations and cash flows for each of the two years then ended, in conformity with U.S. GAAP. The report includes an explanatory paragraph regarding substantial doubt about the Company's ability to continue as a going concern.", "going_concern_qualification": true, "going_concern_language": "Auditor's emphasis paragraph — Substantial Doubt About the Company's Ability to Continue as a Going Concern: as discussed in Note 3, the Company's lack of liquidity raises substantial doubt about its ability to continue as a going concern. Management's plans are described in Note 3, and the financial statements do not include any adjustments that might result from the outcome of this uncertainty. 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The auditor's opinion is unqualified but includes a going-concern emphasis paragraph — see the auditor's report and adverse-information sections. Authorized and outstanding units and holders of record are not stated in the Form 1-K on a consolidated or per-series basis; per-series counts shown here are carried forward from the series offering circulars as of July 1, 2025, and series with no stated counts are shown as not stated pending issuer-furnished figures. The Form 1-K text states 58 series presented, while the Note 4 and Note 5 series schedules name 62 series; the 62 named series are listed and the count discrepancy is flagged for issuer confirmation. 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GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/arrived-homes-4-llc/series-interests", "json_url": "https://guardd.com/disclosures/arrived-homes-4-llc/series-interests.json" }, { "schema_version": "1.0.0", "audit_status": "audited", "issuer_slug": "masterworks-vault-1-llc", "security_slug": "class-a-ordinary-shares", "issuer_legal_name": "Masterworks Vault 1, LLC", "issuer_address": "1 World Trade Center, 57th Floor, New York, NY 10007, USA", "security_name": "Class A Ordinary Shares (issued by series)", "security_class": "Class A Ordinary Shares, no par value, issued on a per-series basis (57 series presented)", "cik": "0001956601", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": null, "auditor": "AGD Legal, S.C.", "legal_counsel": null, "business_description": "Masterworks Vault 1, LLC is a Delaware series limited liability company managed by its affiliate Masterworks Administrative Services, LLC (the Administrator), an affiliate of Masterworks, LLC. Each series of the Company owns a single work of art, and the Company offers Class A ordinary shares in each series to the public under Regulation A (Tier 2) via the Masterworks platform. 57 series are presented in the Form 1-K for the fiscal year ended December 31, 2025. The Company's assets consist substantially of Artwork ($53,290,000 at December 31, 2025); it generates minimal income (royalties) and its principal expense is a share-based administrative-services fee paid to the Administrator. EIN 92-1162722. Commission File No. 024-12098. Fiscal year end December 31. Telephone (203) 518-5172; website www.masterworks.com. Source filing: Form 1-K for the fiscal year ended December 31, 2025 (2025 and 2024 presented), accession 0001493152-26-015180. There is no national securities exchange listing; secondary transfers occur on the Masterworks secondary market. The Company has no third-party debt; balances owed to affiliates cover artwork purchases and services, and the Company is dependent on the Administrator for funding and services.", "officers_and_directors": [ { "name": "Nigel S. Glenday", "title": "Chief Executive Officer and Chief Financial Officer; Member, Board of Managers" }, { "name": "Joshua B. Goldstein", "title": "General Counsel and Secretary; Member, Board of Managers" }, { "name": "Eli D. Broverman", "title": "Member, Board of Managers (Independent)" } ], "capital_structure_as_of": "2025-12-31", "capital_structure": [ { "class_or_series": "Series 300 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 309 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 315 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 316 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 318 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 319 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 320 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 322 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 323 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 329 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 336 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 338 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 339 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 340 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 342 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 343 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 344 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 345 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 346 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 348 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 360 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 362 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 365 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 370 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 372 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 374 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 377 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 386 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 401 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 411 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 415 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 417 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 420 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 421 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 423 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 429 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 442 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 446 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 451 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 453 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 463 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 467 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 469 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 470 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 486 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 488 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 489 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 497 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 498 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 506 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 508 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 510 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 512 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 513 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 520 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 521 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 522 — Class A Ordinary Shares", "authorized": null, "outstanding": null } ], "holders_of_record": null, "holders_of_record_as_of": null, "financial_statements": [ { "fiscal_year": "FY2025", "fiscal_year_end": "2025-12-31", "audited": true, "auditor": "AGD Legal, S.C.", "total_assets": 54242375, "total_liabilities": 1049895, "revenue": 480, "net_income": -666246, "cash": 875198, "currency": "USD", "statement_url": null }, { "fiscal_year": "FY2024", "fiscal_year_end": "2024-12-31", "audited": true, "auditor": "AGD Legal, S.C.", "total_assets": 39204162, "total_liabilities": 1825442, "revenue": 360, "net_income": -366557, "cash": 100062, "currency": "USD", "statement_url": null } ], "auditor_report": { "auditor": "AGD Legal, S.C. 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GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/masterworks-vault-1-llc/class-a-ordinary-shares", "json_url": "https://guardd.com/disclosures/masterworks-vault-1-llc/class-a-ordinary-shares.json" }, { "schema_version": "1.0.0", "audit_status": "audited", "issuer_slug": "masterworks-vault-2-llc", "security_slug": "class-a-ordinary-shares", "issuer_legal_name": "Masterworks Vault 2, LLC", "issuer_address": "1 World Trade Center, 57th Floor, New York, NY 10007, USA", "security_name": "Class A Ordinary Shares (issued by series)", "security_class": "Class A Ordinary Shares, no par value, issued on a per-series basis (47 series presented)", "cik": "0001979634", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": null, "auditor": "AGD Legal, S.C.", "legal_counsel": null, "business_description": "Masterworks Vault 2, LLC is a Delaware series limited liability company managed by its affiliate Masterworks Administrative Services, LLC (the Administrator), an affiliate of Masterworks, LLC. Each series of the Company owns a single work of art, and the Company offers Class A ordinary shares in each series to the public under Regulation A (Tier 2) via the Masterworks platform. 47 series are presented in the Form 1-K for the fiscal year ended December 31, 2025. The Company's assets consist substantially of Artwork ($54,262,000 at December 31, 2025); it generates minimal income (royalties) and its principal expense is a share-based administrative-services fee paid to the Administrator. EIN 93-1570482. Commission File No. 024-12271. Fiscal year end December 31. Telephone (203) 518-5172; website www.masterworks.com. Source filing: Form 1-K for the fiscal year ended December 31, 2025 (2025 and 2024 presented). There is no national securities exchange listing; secondary transfers occur on the Masterworks secondary market. The Company has no third-party debt; balances owed to affiliates cover artwork purchases and services, and the Company is dependent on the Administrator for funding and services.", "officers_and_directors": [ { "name": "Nigel S. Glenday", "title": "Chief Executive Officer and Chief Financial Officer; Member, Board of Managers" }, { "name": "Joshua B. Goldstein", "title": "General Counsel and Secretary; Member, Board of Managers" }, { "name": "Eli D. 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null }, { "class_or_series": "Series 331 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 333 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 335 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 341 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 342 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 347 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 364 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 378 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 379 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 382 — Class A Ordinary 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GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/masterworks-vault-2-llc/class-a-ordinary-shares", "json_url": "https://guardd.com/disclosures/masterworks-vault-2-llc/class-a-ordinary-shares.json" }, { "schema_version": "1.0.0", "audit_status": "audited", "issuer_slug": "masterworks-vault-3-llc", "security_slug": "class-a-ordinary-shares", "issuer_legal_name": "Masterworks Vault 3, LLC", "issuer_address": "1 World Trade Center, 57th Floor, New York, NY 10007, USA", "security_name": "Class A Ordinary Shares (issued by series)", "security_class": "Class A Ordinary Shares, no par value, issued on a per-series basis (44 series presented)", "cik": "0001983146", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": null, "auditor": "AGD Legal, S.C.", "legal_counsel": null, "business_description": "Masterworks Vault 3, LLC is a Delaware series limited liability company managed by its affiliate Masterworks Administrative Services, LLC (the Administrator), an affiliate of Masterworks, LLC. Each series of the Company owns a single work of art, and the Company offers Class A ordinary shares in each series to the public under Regulation A (Tier 2) via the Masterworks platform. 44 series are presented in the Form 1-K for the fiscal year ended December 31, 2025. The Company's assets consist substantially of Artwork ($45,192,000 at December 31, 2025); it generates minimal income (royalties) and its principal expense is a share-based administrative-services fee paid to the Administrator. EIN 93-1920406. Commission File No. 024-12289. Fiscal year end December 31. Telephone (203) 518-5172; website www.masterworks.com. Source filing: Form 1-K for the fiscal year ended December 31, 2025 (2025 and 2024 presented). There is no national securities exchange listing; secondary transfers occur on the Masterworks secondary market. The Company has no third-party debt; balances owed to affiliates cover artwork purchases and services, and the Company is dependent on the Administrator for funding and services.", "officers_and_directors": [ { "name": "Nigel S. Glenday", "title": "Chief Executive Officer and Chief Financial Officer; Member, Board of Managers" }, { "name": "Joshua B. Goldstein", "title": "General Counsel and Secretary; Member, Board of Managers" }, { "name": "Eli D. Broverman", "title": "Member, Board of Managers (Independent)" } ], "capital_structure_as_of": "2025-12-31", "capital_structure": [ { "class_or_series": "Series 325 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 327 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 330 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 332 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 334 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 337 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 349 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 352 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 355 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 358 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 369 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 371 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 373 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 375 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 384 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 388 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 390 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 398 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 400 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 413 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 414 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 431 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 432 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 436 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 447 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 462 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 464 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 466 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 468 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 471 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 474 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 482 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 484 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 487 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 490 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 492 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 493 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 494 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 511 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 518 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 519 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 526 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 529 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 531 — Class A Ordinary Shares", "authorized": null, "outstanding": null } ], "holders_of_record": null, "holders_of_record_as_of": null, "financial_statements": [ { "fiscal_year": "FY2025", "fiscal_year_end": "2025-12-31", "audited": true, "auditor": "AGD Legal, S.C.", "total_assets": 45549610, "total_liabilities": 2982260, "revenue": 350, "net_income": -544008, "cash": 346338, "currency": "USD", "statement_url": null }, { "fiscal_year": "FY2024", "fiscal_year_end": "2024-12-31", "audited": true, "auditor": "AGD Legal, S.C.", "total_assets": 32527713, "total_liabilities": 3112633, "revenue": 89220, "net_income": -115068, "cash": 1605513, "currency": "USD", "statement_url": null } ], "auditor_report": { "auditor": "AGD Legal, S.C. (Cancún, Quintana Roo, Mexico)", "report_date": "2026-04-03", "opinion": "Unqualified — issued on the consolidated financial statements of the Company as a whole and of each listed Series, in accordance with U.S. GAAP. Report date per the Form 1-K; stated as April 3, 2026 in the source report.", "going_concern_qualification": false, "going_concern_language": null, "adverse_opinion": false, "adverse_opinion_language": null, "material_weakness": false, "material_weakness_language": "None expressed in the auditor's report.", "restatement": false, "restatement_language": null }, "tokenized_attributes": { "is_tokenized": false, "contract_address": null, "network": null, "token_standard": null, "onchain_record_role": null, "transfer_restriction_enforcement": null, "holding_period": null, "holding_period_expiration_date": null, "issuer_freeze_authority": null, "issuer_burn_authority": null, "issuer_reissue_authority": null, "smart_contract_audit_status": null, "smart_contract_auditor": null, "eligible_trading_venues": null, "collateral_or_lending_arrangement": null }, "guardd_publication_date": "2026-08-01", "last_verified_date": "2026-08-01", "next_annual_financials_due_date": "2027-03-31", "status": "Current", "status_note": "CIK is not stated in the source report (Commission File No. 024-12289). 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Not an assessment of the issuer and not a determination of quotation eligibility. Not legal advice." }, "secondary_trading_readiness": null, "source_filing": { "source_form": "1-K", "accession_number": "0001493152-26-014719", "filing_date": "2026-04-01", "edgar_url": "https://www.sec.gov/Archives/edgar/data/1983146/000149315226014719/", "fiscal_period": "FY2025 (FYE 2025-12-31)", "resolved_url": "https://www.sec.gov/Archives/edgar/data/1983146/000149315226014719/", "is_search_fallback": false, "label": "1-K · FY2025 (FYE 2025-12-31)", "cik": "0001983146", "commission_file_number": "024-12289", "secondary": null }, "issuer_disclosed_conditions": [], "adverse_flags": { "going_concern": false, "qualified_opinion": false, "scope_limited_audit": false, "material_weakness": false, "material_litigation": false }, "issuer_information": [ { "item": "Shares / units outstanding", "value": "To be populated", "as_of": "2025-12-31" }, { "item": "Authorized shares / units", "value": "To be populated", "as_of": "2025-12-31" }, { "item": "Holders of record", "value": "To be populated", "as_of": null }, { "item": "Par value", "value": "No par value", "as_of": null }, { "item": "Principal place of business", "value": "1 World Trade Center, 57th Floor, New York, NY 10007, USA", "as_of": null }, { "item": "Transfer agent", "value": "To be populated", "as_of": null }, { "item": "Trading venue", "value": "Not yet available", "as_of": null } ], "pl_period_count": 2, "issuer_attested": false, "attestation_date": null, "trading_venue": null, "corrections": [], "last_verified_definition": "“Last verified” is the date GUARDD last confirmed the record against the source filing.", "provenance": "Built directly from the issuer’s SEC filing on EDGAR; figures reproduced as filed and checked for internal arithmetic consistency. GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/masterworks-vault-3-llc/class-a-ordinary-shares", "json_url": "https://guardd.com/disclosures/masterworks-vault-3-llc/class-a-ordinary-shares.json" }, { "schema_version": "1.0.0", "audit_status": "audited", "issuer_slug": "masterworks-vault-4-llc", "security_slug": "class-a-ordinary-shares", "issuer_legal_name": "Masterworks Vault 4, LLC", "issuer_address": "1 World Trade Center, 57th Floor, New York, NY 10007, USA", "security_name": "Class A Ordinary Shares (issued by series)", "security_class": "Class A Ordinary Shares, no par value, issued on a per-series basis (59 series presented)", "cik": "0001989522", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": null, "auditor": "AGD Legal, S.C.", "legal_counsel": null, "business_description": "Masterworks Vault 4, LLC is a Delaware series limited liability company managed by its affiliate Masterworks Administrative Services, LLC (the Administrator), an affiliate of Masterworks, LLC. Each series of the Company owns a single work of art, and the Company offers Class A ordinary shares in each series to the public under Regulation A (Tier 2) via the Masterworks platform. 59 series are presented in the Form 1-K for the fiscal year ended December 31, 2025. The Company's assets consist substantially of Artwork ($55,050,500 at December 31, 2025); it generates minimal income (royalties) and its principal expense is a share-based administrative-services fee paid to the Administrator. EIN 93-2751431. Commission File No. 024-12313. Fiscal year end December 31. Telephone (203) 518-5172; website www.masterworks.com. Source filing: Form 1-K for the fiscal year ended December 31, 2025 (2025 and 2024 presented). There is no national securities exchange listing; secondary transfers occur on the Masterworks secondary market. The Company has no third-party debt; balances owed to affiliates cover artwork purchases and services, and the Company is dependent on the Administrator for funding and services.", "officers_and_directors": [ { "name": "Nigel S. Glenday", "title": "Chief Executive Officer and Chief Financial Officer; Member, Board of Managers" }, { "name": "Joshua B. Goldstein", "title": "General Counsel and Secretary; Member, Board of Managers" }, { "name": "Eli D. 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GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/masterworks-vault-4-llc/class-a-ordinary-shares", "json_url": "https://guardd.com/disclosures/masterworks-vault-4-llc/class-a-ordinary-shares.json" }, { "schema_version": "1.0.0", "audit_status": "audited", "issuer_slug": "masterworks-vault-5-llc", "security_slug": "class-a-ordinary-shares", "issuer_legal_name": "Masterworks Vault 5, LLC", "issuer_address": "1 World Trade Center, 57th Floor, New York, NY 10007, USA", "security_name": "Class A Ordinary Shares (issued by series)", "security_class": "Class A Ordinary Shares, no par value, issued on a per-series basis (29 series presented)", "cik": "0001999710", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": null, "auditor": "AGD Legal, S.C.", "legal_counsel": null, "business_description": "Masterworks Vault 5, LLC is a Delaware series limited liability company managed by its affiliate Masterworks Administrative Services, LLC (the Administrator), an affiliate of Masterworks, LLC. Each series of the Company owns a single work of art, and the Company offers Class A ordinary shares in each series to the public under Regulation A (Tier 2) via the Masterworks platform. 29 series are presented in the Form 1-K for the fiscal year ended December 31, 2025. The Company's assets consist substantially of Artwork ($48,567,000 at December 31, 2025); it generates minimal income (royalties) and its principal expense is a share-based administrative-services fee paid to the Administrator. EIN 93-3951950. Commission File No. 024-12352. Fiscal year end December 31. Telephone (203) 518-5172; website www.masterworks.com. Source filing: Form 1-K for the fiscal year ended December 31, 2025 (2025 and 2024 presented). There is no national securities exchange listing; secondary transfers occur on the Masterworks secondary market. The Company has no third-party debt; balances owed to affiliates cover artwork purchases and services, and the Company is dependent on the Administrator for funding and services.", "officers_and_directors": [ { "name": "Nigel S. Glenday", "title": "Chief Executive Officer and Chief Financial Officer; Member, Board of Managers" }, { "name": "Joshua B. Goldstein", "title": "General Counsel and Secretary; Member, Board of Managers" }, { "name": "Eli D. 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(Cancún, Quintana Roo, Mexico)", "report_date": "2026-04-03", "opinion": "Unqualified — issued on the consolidated financial statements of the Company as a whole and of each listed Series, in accordance with U.S. GAAP. 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Per-series Class A share counts (authorized and outstanding), holders of record, and beneficial owners over 10% are not stated in the source report and are pending the issuer-furnished/Mergent reconciliation pass; each series is listed with authorized and outstanding shown as not stated. Arithmetic verification of the filed statements: 18 of 18 tests PASS (one or more lines off by $1 due to whole-dollar rounding in the filing).", "source_form": "1-K", "accession_number": "0001493152-26-014273", "filing_date": "2026-03-31", "fiscal_period": "FY2025 (FYE 2025-12-31)", "commission_file_number": "024-12352", "edgar_url": "https://www.sec.gov/Archives/edgar/data/1999710/000149315226014273/", "series_count": 29, "publication_date": "2026-08-01", "balance_sheet_date": "2025-12-31", "financials_through_date": "2025-12-31", "audited": true, "audited_balance_sheet_date": "2025-12-31", "has_interim_requirement": true, "engagement_status": "not_enrolled", "enrolled_use_cases": [], "enrolled_at": null, "disclosure_record": { "layer": "A", "state": "interim_elapsed", "text": "Disclosure on file — interim period elapsed", "detail": "Balance sheet 12/31/2025 · financials through 12/31/2025 · 6-month interim window elapsed 06/30/2026", "fiscal_period": "FY2025", "disclaimer": "Reflects the currency of the issuer's public SEC filings. Not an assessment of the issuer and not a determination of quotation eligibility. Not legal advice." }, "secondary_trading_readiness": null, "source_filing": { "source_form": "1-K", "accession_number": "0001493152-26-014273", "filing_date": "2026-03-31", "edgar_url": "https://www.sec.gov/Archives/edgar/data/1999710/000149315226014273/", "fiscal_period": "FY2025 (FYE 2025-12-31)", "resolved_url": "https://www.sec.gov/Archives/edgar/data/1999710/000149315226014273/", "is_search_fallback": false, "label": "1-K · FY2025 (FYE 2025-12-31)", "cik": "0001999710", "commission_file_number": "024-12352", "secondary": null }, "issuer_disclosed_conditions": [], "adverse_flags": { "going_concern": false, "qualified_opinion": false, "scope_limited_audit": false, "material_weakness": false, "material_litigation": false }, "issuer_information": [ { "item": "Shares / units outstanding", "value": "To be populated", "as_of": "2025-12-31" }, { "item": "Authorized shares / units", "value": "To be populated", "as_of": "2025-12-31" }, { "item": "Holders of record", "value": "To be populated", "as_of": null }, { "item": "Par value", "value": "No par value", "as_of": null }, { "item": "Principal place of business", "value": "1 World Trade Center, 57th Floor, New York, NY 10007, USA", "as_of": null }, { "item": "Transfer agent", "value": "To be populated", "as_of": null }, { "item": "Trading venue", "value": "Not yet available", "as_of": null } ], "pl_period_count": 2, "issuer_attested": false, "attestation_date": null, "trading_venue": null, "corrections": [], "last_verified_definition": "“Last verified” is the date GUARDD last confirmed the record against the source filing.", "provenance": "Built directly from the issuer’s SEC filing on EDGAR; figures reproduced as filed and checked for internal arithmetic consistency. GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/masterworks-vault-5-llc/class-a-ordinary-shares", "json_url": "https://guardd.com/disclosures/masterworks-vault-5-llc/class-a-ordinary-shares.json" }, { "schema_version": "1.0.0", "audit_status": "unaudited", "adverse_flags": { "going_concern": false, "qualified_opinion": false, "scope_limited_audit": false, "material_weakness": false, "material_litigation": false }, "issuer_slug": "masterworks-vault-10-llc", "security_slug": "class-a-ordinary-shares", "issuer_legal_name": "Masterworks Vault 10, LLC", "issuer_address": "1 World Trade Center, 57th Floor, New York, NY 10007, USA", "security_name": "Class A Ordinary Shares (issued by series)", "security_class": "Class A Ordinary Shares, no par value, issued on a per-series basis (26 series presented)", "cik": "0001989528", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": null, "auditor": null, "legal_counsel": null, "business_description": "Masterworks Vault 10, LLC is a Delaware series limited liability company managed by Masterworks Administrative Services, LLC, formed to facilitate restructuring transactions involving affiliated entities that hold investments in individual works of art. Each series is associated with a specific artwork and issues Class A ordinary shares under Regulation A (Tier 2) via the Masterworks platform. 26 series are presented in the SEC-qualified Form 1-A. At the Company (master) level the historical consolidated statements are nil or near-nil at year-end; economic substance is presented in the Target Issuer Financials for the affiliated entity being acquired, which held Artwork of $53,173,748 at December 31, 2025, and at the individual series level. EIN 93-1920406. Commission File No. 024-12323. Fiscal year end December 31. Website www.masterworks.com. Source filing: Form 1-A offering circular, qualified by the U.S. Securities and Exchange Commission (FY2025 and FY2024 presented, both unaudited). Eligibility for this disclosure rests on SEC qualification of the Regulation A offering, not on an audit. There is no national securities exchange listing; secondary transfers occur on the Masterworks secondary market.", "officers_and_directors": [ { "name": "Nigel S. Glenday", "title": "Chief Executive Officer and Chief Financial Officer; Member, Board of Managers" }, { "name": "Joshua B. Goldstein", "title": "General Counsel and Secretary; Member, Board of Managers" }, { "name": "Eli D. 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The security is accordingly treated as manual-exemption eligible, with the audited balance sheet dated December 31, 2025 at the series level. CIK is not stated in the source report. Per-series Class A share counts (authorized and outstanding), holders of record, and beneficial owners over 10% are not stated in the source report and are pending the issuer-furnished/Mergent reconciliation pass; each series is listed with authorized and outstanding shown as not stated. The EIN shown in the source report (93-1920406) is the same EIN shown for Masterworks Vault 3, LLC; this apparent conflict has not been resolved and is flagged for issuer confirmation. 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Not legal advice." }, "secondary_trading_readiness": null, "source_filing": { "source_form": "1-A", "accession_number": "0001493152-26-021471", "filing_date": "2026-05-06", "edgar_url": "https://www.sec.gov/Archives/edgar/data/1989528/000149315226021471/", "fiscal_period": "FY2025 financials in 2026 Form 1-A", "resolved_url": "https://www.sec.gov/Archives/edgar/data/1989528/000149315226021471/", "is_search_fallback": false, "label": "1-A · FY2025 financials in 2026 Form 1-A", "cik": "0001989528", "commission_file_number": "024-12323", "secondary": null }, "issuer_disclosed_conditions": [], "issuer_information": [ { "item": "Shares / units outstanding", "value": "To be populated", "as_of": "2025-12-31" }, { "item": "Authorized shares / units", "value": "To be populated", "as_of": "2025-12-31" }, { "item": "Holders of record", "value": "To be populated", "as_of": null }, { "item": "Par value", "value": "No par value", "as_of": null }, { "item": "Principal place of business", "value": "1 World Trade Center, 57th Floor, New York, NY 10007, USA", "as_of": null }, { "item": "Transfer agent", "value": "To be populated", "as_of": null }, { "item": "Trading venue", "value": "Not yet available", "as_of": null } ], "pl_period_count": 2, "issuer_attested": false, "attestation_date": null, "trading_venue": null, "corrections": [], "last_verified_definition": "“Last verified” is the date GUARDD last confirmed the record against the source filing.", "provenance": "Built directly from the issuer’s SEC filing on EDGAR; figures reproduced as filed and checked for internal arithmetic consistency. GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/masterworks-vault-10-llc/class-a-ordinary-shares", "json_url": "https://guardd.com/disclosures/masterworks-vault-10-llc/class-a-ordinary-shares.json" }, { "schema_version": "1.0.0", "audit_status": "unaudited", "adverse_flags": { "going_concern": false, "qualified_opinion": false, "scope_limited_audit": false, "material_weakness": false, "material_litigation": false }, "issuer_slug": "masterworks-vault-11-llc", "security_slug": "class-a-ordinary-shares", "issuer_legal_name": "Masterworks Vault 11, LLC", "issuer_address": "1 World Trade Center, 57th Floor, New York, NY 10007, USA", "security_name": "Class A Ordinary Shares (issued by series)", "security_class": "Class A Ordinary Shares, no par value, issued on a per-series basis (41 series presented)", "cik": "0002046168", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": null, "auditor": null, "legal_counsel": null, "business_description": "Masterworks Vault 11, LLC is a Delaware series limited liability company managed by Masterworks Administrative Services, LLC, formed to facilitate restructuring transactions involving affiliated entities that hold investments in individual works of art. Each series is associated with a specific artwork and issues Class A ordinary shares under Regulation A (Tier 2) via the Masterworks platform. 41 series are presented in the SEC-qualified Form 1-A. At the Company (master) level the historical consolidated statements are nil or near-nil at year-end; economic substance is presented in the Target Issuer Financials for the affiliated entity being acquired, which held Artwork of $56,149,595 at December 31, 2025, and at the individual series level. EIN 33-2054492. Commission File No. 024-12743. Fiscal year end December 31. Website www.masterworks.com. Source filing: Form 1-A offering circular, qualified by the U.S. Securities and Exchange Commission (FY2025 and FY2024 presented, both unaudited). Eligibility for this disclosure rests on SEC qualification of the Regulation A offering, not on an audit. There is no national securities exchange listing; secondary transfers occur on the Masterworks secondary market.", "officers_and_directors": [ { "name": "Nigel S. Glenday", "title": "Chief Executive Officer and Chief Financial Officer; Member, Board of Managers" }, { "name": "Joshua B. Goldstein", "title": "General Counsel and Secretary; Member, Board of Managers" }, { "name": "Eli D. 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"outstanding": null } ], "holders_of_record": null, "holders_of_record_as_of": null, "financial_statements": [ { "fiscal_year": "FY2025 — Target Issuer Financials (unaudited)", "fiscal_year_end": "2025-12-31", "audited": false, "auditor": null, "total_assets": 72632208, "total_liabilities": 0, "revenue": 230, "net_income": -1100490, "cash": 3411, "currency": "USD", "statement_url": null }, { "fiscal_year": "FY2024 — Target Issuer Financials (unaudited)", "fiscal_year_end": "2024-12-31", "audited": false, "auditor": null, "total_assets": 72631978, "total_liabilities": 0, "revenue": 230, "net_income": -1155064, "cash": 3181, "currency": "USD", "statement_url": null }, { "fiscal_year": "FY2025 — Issuer historical consolidated (unaudited, nil at master level)", "fiscal_year_end": "2025-12-31", "audited": false, "auditor": null, "total_assets": 0, "total_liabilities": 0, "revenue": 0, "net_income": 0, "cash": 0, "currency": "USD", "statement_url": null }, { "fiscal_year": "FY2024 — Issuer 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The security is accordingly treated as manual-exemption eligible, with the audited balance sheet dated December 31, 2025 at the series level. CIK is not stated in the source report. Per-series Class A share counts (authorized and outstanding), holders of record, and beneficial owners over 10% are not stated in the source report and are pending the issuer-furnished/Mergent reconciliation pass; each series is listed with authorized and outstanding shown as not stated. 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GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/masterworks-vault-15-llc/class-a-ordinary-shares", "json_url": "https://guardd.com/disclosures/masterworks-vault-15-llc/class-a-ordinary-shares.json" }, { "schema_version": "1.0.0", "audit_status": "unaudited", "adverse_flags": { "going_concern": false, "qualified_opinion": false, "scope_limited_audit": false, "material_weakness": false, "material_litigation": false }, "issuer_slug": "masterworks-vault-16-llc", "security_slug": "class-a-ordinary-shares", "issuer_legal_name": "Masterworks Vault 16, LLC", "issuer_address": "1 World Trade Center, 57th Floor, New York, NY 10007, USA", "security_name": "Class A Ordinary Shares (issued by series)", "security_class": "Class A Ordinary Shares, no par value, issued on a per-series basis (27 series presented)", "cik": "0002046162", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": null, "auditor": null, "legal_counsel": null, "business_description": "Masterworks Vault 16, LLC is a Delaware series limited liability company managed by Masterworks Administrative Services, LLC, formed to facilitate restructuring transactions involving affiliated entities that hold investments in individual works of art. 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GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/masterworks-vault-16-llc/class-a-ordinary-shares", "json_url": "https://guardd.com/disclosures/masterworks-vault-16-llc/class-a-ordinary-shares.json" }, { "schema_version": "1.0.0", "audit_status": "unaudited", "adverse_flags": { "going_concern": false, "qualified_opinion": false, "scope_limited_audit": false, "material_weakness": false, "material_litigation": false }, "issuer_slug": "masterworks-vault-17-llc", "security_slug": "class-a-ordinary-shares", "issuer_legal_name": "Masterworks Vault 17, LLC", "issuer_address": "1 World Trade Center, 57th Floor, New York, NY 10007, USA", "security_name": "Class A Ordinary Shares (issued by series)", "security_class": "Class A Ordinary Shares, no par value, issued on a per-series basis (47 series presented)", "cik": "0002046460", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": null, "auditor": null, "legal_counsel": null, "business_description": "Masterworks Vault 17, LLC is a Delaware series limited liability company managed by Masterworks Administrative Services, LLC, formed to facilitate restructuring transactions involving affiliated entities that hold investments in individual works of art. 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GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/masterworks-vault-17-llc/class-a-ordinary-shares", "json_url": "https://guardd.com/disclosures/masterworks-vault-17-llc/class-a-ordinary-shares.json" }, { "schema_version": "1.0.0", "audit_status": "unaudited", "adverse_flags": { "going_concern": false, "qualified_opinion": false, "scope_limited_audit": false, "material_weakness": false, "material_litigation": false }, "issuer_slug": "masterworks-vault-18-llc", "security_slug": "class-a-ordinary-shares", "issuer_legal_name": "Masterworks Vault 18, LLC", "issuer_address": "1 World Trade Center, 57th Floor, New York, NY 10007, USA", "security_name": "Class A Ordinary Shares (issued by series)", "security_class": "Class A Ordinary Shares, no par value, issued on a per-series basis (48 series presented)", "cik": "0002046463", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": null, "auditor": null, "legal_counsel": null, "business_description": "Masterworks Vault 18, LLC is a Delaware series limited liability company managed by Masterworks Administrative Services, LLC, formed to facilitate restructuring transactions involving affiliated entities that hold investments in individual works of art. 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null }, { "class_or_series": "Series 255 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 256 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 257 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 258 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 259 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 260 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 261 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 262 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 263 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 264 — Class A Ordinary 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"class_or_series": "Series 278 — Class A Ordinary Shares", "authorized": null, "outstanding": null }, { "class_or_series": "Series 500 — Class A Ordinary Shares", "authorized": null, "outstanding": null } ], "holders_of_record": null, "holders_of_record_as_of": null, "financial_statements": [ { "fiscal_year": "FY2025 — Target Issuer Financials (unaudited)", "fiscal_year_end": "2025-12-31", "audited": false, "auditor": null, "total_assets": 72084684, "total_liabilities": 0, "revenue": 370, "net_income": -1244671, "cash": 4810, "currency": "USD", "statement_url": null }, { "fiscal_year": "FY2024 — Target Issuer Financials (unaudited)", "fiscal_year_end": "2024-12-31", "audited": false, "auditor": null, "total_assets": 72084314, "total_liabilities": 0, "revenue": 370, "net_income": -1202006, "cash": 4440, "currency": "USD", "statement_url": null }, { "fiscal_year": "FY2025 — Issuer historical consolidated (unaudited, nil at master level)", "fiscal_year_end": "2025-12-31", "audited": 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The security is accordingly treated as manual-exemption eligible, with the audited balance sheet dated December 31, 2025 at the series level. CIK is not stated in the source report. Per-series Class A share counts (authorized and outstanding), holders of record, and beneficial owners over 10% are not stated in the source report and are pending the issuer-furnished/Mergent reconciliation pass; each series is listed with authorized and outstanding shown as not stated. 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GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/masterworks-vault-20-llc/class-a-ordinary-shares", "json_url": "https://guardd.com/disclosures/masterworks-vault-20-llc/class-a-ordinary-shares.json" }, { "schema_version": "1.0.0", "audit_status": "audited", "issuer_slug": "arrived-homes-llc", "security_slug": "series-interests", "issuer_legal_name": "Arrived Homes, LLC", "issuer_address": "1700 Westlake Ave N, Seattle, WA 98109, USA", "security_name": "Series Interests (asset-backed)", "security_class": "Membership interests, no par value, issued on a per-series basis (each series holds real property)", "cik": "0001821720", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": "Arrived Transfer Agent, LLC", "auditor": "Stephano Slack LLC", "legal_counsel": null, "business_description": "Arrived Homes, LLC is a Delaware series limited liability company on the Arrived platform; each series holds real property and offers membership interests to the public under Regulation A (Tier 2). 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Figures presented here are the Company-level consolidated totals.", "officers_and_directors": [ { "name": "Ryan Frazier", "title": "Chief Executive Officer; Director" }, { "name": "Sue Korn", "title": "Chief Financial Officer; Director" }, { "name": "Kenneth Cason", "title": "Chief Technology Officer; Director" }, { "name": "Alejandro Chouza", "title": "Chief Operating Officer; Director" } ], "capital_structure_as_of": "2026-07-06", "capital_structure": [ { "class_or_series": "Arrived Homes Series 100", "authorized": 705800, "outstanding": 69100 }, { "class_or_series": "Arrived Homes Series 101", "authorized": 726460, "outstanding": 71596 }, { "class_or_series": "Arrived Homes Series Abernant", "authorized": 272830, "outstanding": 27213 }, { "class_or_series": "Arrived Homes Series Abbington", "authorized": 554050, "outstanding": 54865 }, { "class_or_series": "Arrived Homes Series Alvin", "authorized": 373860, "outstanding": 37366 }, { "class_or_series": "Arrived Homes Series Amber", 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The filing and auditor's report indicate substantial doubt about the Company's ability to continue as a going concern.", "going_concern_qualification": true, "going_concern_language": "Going concern: the filing and the report of the independent auditor indicate substantial doubt about the Company's ability to continue as a going concern; see the going-concern note in the Form 1-K.", "adverse_opinion": false, "adverse_opinion_language": null, "material_weakness": false, "material_weakness_language": "None identified in the reviewed sections.", "restatement": false, "restatement_language": null }, "tokenized_attributes": { "is_tokenized": false, "contract_address": null, "network": null, "token_standard": null, "onchain_record_role": null, "transfer_restriction_enforcement": null, "holding_period": null, "holding_period_expiration_date": null, "issuer_freeze_authority": null, "issuer_burn_authority": null, "issuer_reissue_authority": null, "smart_contract_audit_status": null, "smart_contract_auditor": null, "eligible_trading_venues": null, "collateral_or_lending_arrangement": null }, "guardd_publication_date": "2026-08-01", "last_verified_date": "2026-08-01", "next_annual_financials_due_date": "2027-03-31", "status": "Current", "status_note": "Audited consolidated financial statements for the fiscal year ended December 31, 2025 are on file from the Form 1-K, with FY2024 presented as an audited comparative. The auditor's report indicates substantial doubt about the Company's ability to continue as a going concern — see the auditor's report and adverse-information sections. Per-series interests, holders of record, and beneficial owners over 10% are not stated in the source report and are pending the issuer-furnished/Mergent reconciliation pass. Arithmetic verification of the filed statements: 14 of 14 tests PASS (several lines off by $1 due to whole-dollar rounding in the filing).", "source_form": "1-K", "accession_number": "0001213900-26-050130", "filing_date": "2026-04-30", "fiscal_period": "FY2025 (FYE 2025-12-31)", "commission_file_number": null, "edgar_url": "https://www.sec.gov/Archives/edgar/data/1968039/000121390026050130/", "series_count": 11, "publication_date": "2026-08-01", "balance_sheet_date": "2025-12-31", "financials_through_date": "2025-12-31", "audited": true, "audited_balance_sheet_date": "2025-12-31", "has_interim_requirement": true, "engagement_status": "not_enrolled", "enrolled_use_cases": [], "enrolled_at": null, "disclosure_record": { "layer": "A", "state": "interim_elapsed", "text": "Disclosure on file — interim period elapsed", "detail": "Balance sheet 12/31/2025 · financials through 12/31/2025 · 6-month interim window elapsed 06/30/2026", "fiscal_period": "FY2025", "disclaimer": "Reflects the currency of the issuer's public SEC filings. Not an assessment of the issuer and not a determination of quotation eligibility. Not legal advice." }, "secondary_trading_readiness": null, "source_filing": { "source_form": "1-K", "accession_number": "0001213900-26-050130", "filing_date": "2026-04-30", "edgar_url": "https://www.sec.gov/Archives/edgar/data/1968039/000121390026050130/", "fiscal_period": "FY2025 (FYE 2025-12-31)", "resolved_url": "https://www.sec.gov/Archives/edgar/data/1968039/000121390026050130/", "is_search_fallback": false, "label": "1-K · FY2025 (FYE 2025-12-31)", "cik": "0001968039", "commission_file_number": null, "secondary": null }, "issuer_disclosed_conditions": [ "Going concern" ], "adverse_flags": { "going_concern": true, "qualified_opinion": false, "scope_limited_audit": false, "material_weakness": false, "material_litigation": false }, "issuer_information": [ { "item": "Shares / units outstanding", "value": "1,277,955", "as_of": "2025-12-31" }, { "item": "Authorized shares / units", "value": "12,786,900", "as_of": "2025-12-31" }, { "item": "Holders of record", "value": "25,744", "as_of": "2025-12-31" }, { "item": "Par value", "value": "No par value", "as_of": null }, { "item": "Principal place of business", "value": "1700 Westlake Ave N, Seattle, WA 98109, USA", "as_of": null }, { "item": "Transfer agent", "value": "Arrived Transfer Agent, LLC", "as_of": null }, { "item": "Trading venue", "value": "Not yet available", "as_of": null } ], "pl_period_count": 2, "issuer_attested": false, "attestation_date": null, "trading_venue": null, "corrections": [], "last_verified_definition": "“Last verified” is the date GUARDD last confirmed the record against the source filing.", "provenance": "Built directly from the issuer’s SEC filing on EDGAR; figures reproduced as filed and checked for internal arithmetic consistency. GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/arrived-str-2-llc/series-interests", "json_url": "https://guardd.com/disclosures/arrived-str-2-llc/series-interests.json" }, { "schema_version": "1.0.0", "audit_status": "audited", "issuer_slug": "neptune-rem-llc", "security_slug": "membership-interests", "issuer_legal_name": "Neptune REM, LLC (“Real Bricks”)", "issuer_address": "30 N. Gould St., Suite R, Sheridan, WY 82801, USA", "security_name": "Membership Interests (issued by series)", "security_class": "Membership interests, no par value, offered on a per-series basis under Regulation A (Tier 2); no national securities exchange listing", "cik": "0001992001", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": null, "auditor": "Artesian CPA, LLC", "legal_counsel": null, "business_description": "Neptune REM, LLC, operating as “Real Bricks,” is a Delaware series limited liability company offering interests in real-estate investments under Regulation A (Tier 2). Interests are offered on a per-series basis through the Real Bricks platform. Principal office: 30 N. Gould St., Suite R, Sheridan, WY 82801; telephone (970) 634-9281; website www.realbricks.com; EIN 92-1301404. Fiscal year end December 31. Figures presented are the Company-level consolidated totals from the “Consolidated” column of the audited consolidated financial statements in the Form 1-K for the fiscal year ended December 31, 2025.", "officers_and_directors": [ { "name": "Chris Gerardi", "title": "Chief Executive Officer and Director" }, { "name": "Troy Skabelund", "title": "Chief Financial Officer" }, { "name": "John Arsenault", "title": "Chief Operating Officer" }, { "name": "Eric Duncan", "title": "Chief Technical Officer" }, { "name": "Nikki Gilbreth", "title": "Chief Compliance Officer" }, { "name": "Taylor Utt", "title": "Chief Marketing Officer" } ], "capital_structure_as_of": "2025-12-31", "capital_structure": [ { "class_or_series": "Membership interests, issued by series (Real Bricks platform) — no par value; per-series authorized and outstanding interests are not stated in the source report and are pending the issuer-furnished/Mergent reconciliation pass (weighted average membership interests for FY2025: 531)", "authorized": null, "outstanding": null } ], "holders_of_record": null, "holders_of_record_as_of": null, "financial_statements": [ { "fiscal_year": "FY2025 (audited, consolidated)", "fiscal_year_end": "2025-12-31", "audited": true, "auditor": "Artesian CPA, LLC", "total_assets": 1835095, "total_liabilities": 1261586, "revenue": 88089, "net_income": -42635, "cash": 48039, "currency": "USD", "statement_url": null }, { "fiscal_year": "FY2024 (audited, consolidated comparative)", "fiscal_year_end": "2024-12-31", "audited": true, "auditor": "Artesian CPA, LLC", "total_assets": 1855207, "total_liabilities": 2304367, "revenue": 128324, "net_income": -231429, "cash": 20553, "currency": "USD", "statement_url": null } ], "auditor_report": { "auditor": "Artesian CPA, LLC", "report_date": null, "opinion": "Unmodified opinion on the consolidated financial statements for the year ended December 31, 2025, with a going-concern emphasis paragraph.", "going_concern_qualification": true, "going_concern_language": "Going concern: the consolidated financial statements were prepared assuming the Company will continue as a going concern. The Company will require additional capital until revenue from operations is sufficient to cover operational costs; these matters raise substantial doubt about the Company’s ability to continue as a going concern. Management intends to fund operations over the next 12 months through member advances and debt and/or equity financing. The Company also reported a members’ deficit at December 31, 2024, when total liabilities exceeded total assets.", "adverse_opinion": false, "adverse_opinion_language": null, "material_weakness": false, "material_weakness_language": "None identified in the reviewed sections.", "restatement": false, "restatement_language": null }, "tokenized_attributes": { "is_tokenized": false, "contract_address": null, "network": null, "token_standard": null, "onchain_record_role": null, "transfer_restriction_enforcement": null, "holding_period": null, "holding_period_expiration_date": null, "issuer_freeze_authority": null, "issuer_burn_authority": null, "issuer_reissue_authority": null, "smart_contract_audit_status": null, "smart_contract_auditor": null, "eligible_trading_venues": null, "collateral_or_lending_arrangement": null }, "guardd_publication_date": "2026-08-01", "last_verified_date": "2026-08-01", "next_annual_financials_due_date": "2027-03-31", "balance_sheet_date": "2025-12-31", "financials_through_date": "2025-12-31", "audited": true, "audited_balance_sheet_date": "2025-12-31", "status": "Current", "status_note": "Audited consolidated financial statements as of and for the fiscal year ended December 31, 2025 are on file from the Form 1-K, with FY2024 presented as an audited consolidated comparative. The auditor’s report includes a going-concern emphasis paragraph, and the Company reported a members’ deficit at December 31, 2024 — see the auditor’s report and adverse-information sections. No material weaknesses or material litigation were disclosed in the reviewed sections. Per-series interests, holders of record, and beneficial owners over 10% are not stated in the source report and are pending the issuer-furnished/Mergent reconciliation pass. Arithmetic verification of the filed statements: 14 of 14 tests PASS.", "source_form": "1-K", "accession_number": "0001104659-26-052946", "filing_date": "2026-04-30", "fiscal_period": "FY2025 (FYE 2025-12-31)", "commission_file_number": null, "edgar_url": "https://www.sec.gov/Archives/edgar/data/1992001/000110465926052946/", "series_count": 1, "publication_date": "2026-08-01", "has_interim_requirement": true, "engagement_status": "not_enrolled", "enrolled_use_cases": [], "enrolled_at": null, "disclosure_record": { "layer": "A", "state": "interim_elapsed", "text": "Disclosure on file — interim period elapsed", "detail": "Balance sheet 12/31/2025 · financials through 12/31/2025 · 6-month interim window elapsed 06/30/2026", "fiscal_period": "FY2025", "disclaimer": "Reflects the currency of the issuer's public SEC filings. Not an assessment of the issuer and not a determination of quotation eligibility. Not legal advice." }, "secondary_trading_readiness": null, "source_filing": { "source_form": "1-K", "accession_number": "0001104659-26-052946", "filing_date": "2026-04-30", "edgar_url": "https://www.sec.gov/Archives/edgar/data/1992001/000110465926052946/", "fiscal_period": "FY2025 (FYE 2025-12-31)", "resolved_url": "https://www.sec.gov/Archives/edgar/data/1992001/000110465926052946/", "is_search_fallback": false, "label": "1-K · FY2025 (FYE 2025-12-31)", "cik": "0001992001", "commission_file_number": null, "secondary": null }, "issuer_disclosed_conditions": [ "Going concern" ], "adverse_flags": { "going_concern": true, "qualified_opinion": false, "scope_limited_audit": false, "material_weakness": false, "material_litigation": false }, "issuer_information": [ { "item": "Shares / units outstanding", "value": "To be populated", "as_of": "2025-12-31" }, { "item": "Authorized shares / units", "value": "To be populated", "as_of": "2025-12-31" }, { "item": "Holders of record", "value": "To be populated", "as_of": null }, { "item": "Par value", "value": "No par value", "as_of": null }, { "item": "Principal place of business", "value": "30 N. Gould St., Suite R, Sheridan, WY 82801, USA", "as_of": null }, { "item": "Transfer agent", "value": "To be populated", "as_of": null }, { "item": "Trading venue", "value": "Not yet available", "as_of": null } ], "pl_period_count": 2, "issuer_attested": false, "attestation_date": null, "trading_venue": null, "corrections": [], "last_verified_definition": "“Last verified” is the date GUARDD last confirmed the record against the source filing.", "provenance": "Built directly from the issuer’s SEC filing on EDGAR; figures reproduced as filed and checked for internal arithmetic consistency. GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/neptune-rem-llc/membership-interests", "json_url": "https://guardd.com/disclosures/neptune-rem-llc/membership-interests.json" }, { "schema_version": "1.0.0", "audit_status": "audited", "adverse_flags": { "going_concern": true, "qualified_opinion": false, "scope_limited_audit": false, "material_weakness": false, "material_litigation": false }, "issuer_slug": "cityfunds-i-llc", "security_slug": "membership-interests", "issuer_legal_name": "Cityfunds I, LLC (Nada)", "issuer_address": "1315 Manufacturing Street, Dallas, TX", "security_name": "Membership Interests (issued by city series)", "security_class": "Membership interests, no par value, offered on a per-series (city portfolio) basis under Regulation A (Tier 2); no national securities exchange listing", "cik": "0001874979", "exemption": "Reg A", "state_of_incorporation": "Delaware", "transfer_agent": null, "auditor": null, "legal_counsel": null, "business_description": "Cityfunds I, LLC (Nada) is a Delaware series limited liability company offering interests in city-specific real-estate portfolios under Regulation A (Tier 2). Principal office: 1315 Manufacturing Street, Dallas, TX; website www.cityfunds.com. Fiscal year end December 31. EIN is reported inconsistently across filings — 86-3672902 on the Form 1-SA cover and 83-3672902 on the Form 1-K cover; correct EIN to be verified with the issuer. Figures presented are Company-level consolidated totals from the FY2024 Form 1-K (audited) and the Form 1-SA for the six months ended June 30, 2025 (unaudited). Interests are offered through Dalmore Group, LLC as broker-dealer of record per the filings.", "officers_and_directors": [ { "name": "Nada / manager (per filing)", "title": "Manager" } ], "capital_structure_as_of": "2025-06-30", "capital_structure": [ { "class_or_series": "Membership interests, issued by city series — Cityfunds Austin, Dallas, Denver, Houston, Las Vegas, Los Angeles, Miami, Nashville, Phoenix, and Tampa; no par value. Per-series authorized and outstanding interests, holders of record, and beneficial owners over 10% are not stated in the source report and are pending the issuer-furnished/Mergent reconciliation pass (weighted average member units outstanding: 646,066 for the six months ended June 30, 2025; 580,113 for FY2024)", "authorized": null, "outstanding": null } ], "holders_of_record": null, "holders_of_record_as_of": null, "financial_statements": [ { "fiscal_year": "Interim — six months ended June 30, 2025 (unaudited, consolidated)", "fiscal_year_end": "2025-06-30", "audited": false, "auditor": null, "total_assets": 7423893, "total_liabilities": 1303946, "revenue": 43150, "net_income": -144208, "cash": 98552, "currency": "USD", "statement_url": null }, { "fiscal_year": "FY2024 (audited, consolidated)", "fiscal_year_end": "2024-12-31", "audited": true, "auditor": null, "total_assets": 13271318, "total_liabilities": 7679969, "revenue": 90840, "net_income": -1094449, "cash": 244773, "currency": "USD", "statement_url": null }, { "fiscal_year": "FY2023 (audited, consolidated comparative)", "fiscal_year_end": "2023-12-31", "audited": true, "auditor": null, "total_assets": 6934655, "total_liabilities": 2172010, "revenue": 133851, "net_income": 128435, "cash": 522928, "currency": "USD", "statement_url": null } ], "auditor_report": { "auditor": null, "report_date": null, "opinion": "Unmodified opinion with a going-concern emphasis paragraph on the December 31, 2024 and 2023 consolidated financial statements (Form 1-K). The interim statements as of and for the six months ended June 30, 2025 (Form 1-SA) are UNAUDITED — no auditor’s opinion is expressed on the interim figures.", "going_concern_qualification": true, "going_concern_language": "Going concern: both the FY2024 audited consolidated financial statements and the 2025 interim consolidated financial statements disclose substantial doubt about the Company’s ability to continue as a going concern. The Company reported a net loss of $1,094,449 for FY2024 and a net loss of $144,208 for the six months ended June 30, 2025.", "adverse_opinion": false, "adverse_opinion_language": null, "material_weakness": false, "material_weakness_language": "None separately identified in the reviewed sections.", "restatement": false, "restatement_language": null }, "tokenized_attributes": { "is_tokenized": false, "contract_address": null, "network": null, "token_standard": null, "onchain_record_role": null, "transfer_restriction_enforcement": null, "holding_period": null, "holding_period_expiration_date": null, "issuer_freeze_authority": null, "issuer_burn_authority": null, "issuer_reissue_authority": null, "smart_contract_audit_status": null, "smart_contract_auditor": null, "eligible_trading_venues": null, "collateral_or_lending_arrangement": null }, "guardd_publication_date": "2026-08-01", "last_verified_date": "2026-08-01", "next_annual_financials_due_date": "2026-03-31", "balance_sheet_date": "2025-06-30", "financials_through_date": "2025-06-30", "audited": false, "audited_balance_sheet_date": "2024-12-31", "status": "Update Due", "status_note": "The most recent balance sheet on file is the UNAUDITED interim balance sheet as of June 30, 2025 (Form 1-SA); the most recent audited balance sheet is dated December 31, 2024 (Form 1-K). Both the audited annual and the unaudited interim financial statements disclose substantial doubt about the Company’s ability to continue as a going concern — see the auditor’s report and adverse-information sections. Total assets declined from $13.27M at December 31, 2024 to $7.42M at June 30, 2025 as home-equity investments were exchanged for an investment in partnership and related-party debt was repaid. The Form 1-SA and Form 1-K covers report conflicting EINs (86-3672902 vs. 83-3672902); correct EIN to be verified with the issuer. Per-series interests, holders of record, and beneficial owners over 10% are pending the issuer-furnished/Mergent reconciliation pass. Arithmetic verification of the filed statements: 28 of 28 tests PASS.", "source_form": "1-K + 1-SA", "accession_number": "0001493152-26-004863", "filing_date": "2026-02-03", "fiscal_period": "FY2024 (1-K) + interim 6 mo ended 2025-06-30 (1-SA)", "commission_file_number": null, "edgar_url": "https://www.sec.gov/Archives/edgar/data/1874979/000149315226004863/", "series_count": 1, "publication_date": "2026-08-01", "has_interim_requirement": true, "engagement_status": "not_enrolled", "enrolled_use_cases": [], "enrolled_at": null, "disclosure_record": { "layer": "A", "state": "aging", "text": "Disclosure aging", "detail": "Balance sheet 06/30/2025 · financials through 06/30/2025 · outer information horizon 10/30/2026", "fiscal_period": "FY2025", "disclaimer": "Reflects the currency of the issuer's public SEC filings. Not an assessment of the issuer and not a determination of quotation eligibility. Not legal advice." }, "secondary_trading_readiness": null, "source_filing": { "source_form": "1-K + 1-SA", "accession_number": "0001493152-26-004863", "filing_date": "2026-02-03", "edgar_url": "https://www.sec.gov/Archives/edgar/data/1874979/000149315226004863/", "fiscal_period": "FY2024 (1-K) + interim 6 mo ended 2025-06-30 (1-SA)", "resolved_url": "https://www.sec.gov/Archives/edgar/data/1874979/000149315226004863/", "is_search_fallback": false, "label": "1-K + 1-SA · FY2024 (1-K) + interim 6 mo ended 2025-06-30 (1-SA)", "cik": "0001874979", "commission_file_number": null, "secondary": { "accession_number": "0001493152-26-005763", "filing_date": "2026-02-09", "edgar_url": "https://www.sec.gov/Archives/edgar/data/1874979/000149315226005763/" } }, "issuer_disclosed_conditions": [ "Going concern" ], "issuer_information": [ { "item": "Shares / units outstanding", "value": "To be populated", "as_of": "2025-06-30" }, { "item": "Authorized shares / units", "value": "To be populated", "as_of": "2025-06-30" }, { "item": "Holders of record", "value": "To be populated", "as_of": null }, { "item": "Par value", "value": "No par value", "as_of": null }, { "item": "Principal place of business", "value": "1315 Manufacturing Street, Dallas, TX", "as_of": null }, { "item": "Transfer agent", "value": "To be populated", "as_of": null }, { "item": "Trading venue", "value": "Not yet available", "as_of": null } ], "pl_period_count": 3, "issuer_attested": false, "attestation_date": null, "trading_venue": null, "corrections": [], "last_verified_definition": "“Last verified” is the date GUARDD last confirmed the record against the source filing.", "provenance": "Built directly from the issuer’s SEC filing on EDGAR; figures reproduced as filed and checked for internal arithmetic consistency. GUARDD does not edit, withhold, or suppress adverse issuer information.", "canonical_url": "https://guardd.com/disclosures/cityfunds-i-llc/membership-interests", "json_url": "https://guardd.com/disclosures/cityfunds-i-llc/membership-interests.json" } ] }