Form C: Issuer Information

Issuer Information

Name of Issuer:

Angel Studios, Inc.

Describe Progress Update:

Notice of completion of offering. Amount raised: $4,999,986.

Legal Status of Issuer:

Form:

Corporation

Jurisdiction of Incorporation/Organization:

DELAWARE

Date of Incorporation/Organization:

02-07-2014

Physical Address of Issuer:

Address 1:

295 W CENTER STREET

City:

PROVO

State/Country:

UTAH

Mailing Zip/Postal Code:

84601

Website of Issuer:

www.angel.com

Intermediary through which the Offering will be Conducted:

CIK:

0001749383

Company Name:

VAS Portal, LLC

Commission File Number:

007-00165

CRD Number:

298941

Form C: Offering Information

Offering Information

Amount of compensation to be paid to the intermediary, whether as a dollar amount or a percentage of the offering amount, or a good faith estimate if the exact amount is not available at the time of the filing, for conducting the offering, including the amount of referral and any other fees associated with the offering:

Six percent (6%) of the successful amount raised in cash, plus reimbursements for any outof- pocket expenses incurred by the portal with third-party service providers in connection with the offering.

Any other financial interest in the issuer held by the intermediary, or any arrangement for the intermediary to acquire such an interest:

None

Type of Security Offered:

Other

Specify:

Revenue Participation Rights

Target Number of Securities to be Offered:

1000000

Price:

1.00000

Target Offering Amount:

1000000.00

Maximum Offering Amount (if different from Target Offering Amount):

5000000.00

Oversubscriptions Accepted:

Yes

If yes, disclose how oversubscriptions will be allocated:

First-come, first-served basis

Deadline to reach the Target Offering Amount:

06-15-2023

NOTE: If the sum of the investment commitments does not equal or exceed the target offering amount at the offering deadline, no securities will be sold in the offering, investment commitments will be cancelled and committed funds will be returned.

Form C: Annual Report Disclosure Requirements

Annual Report Disclosure Requirements

Current Number of Employees:

153.00

Total Assets Most Recent Fiscal Year-end:

39387358.00

Total Assets Prior Fiscal Year-end:

59308488.00

Cash and Cash Equivalents Most Recent Fiscal Year-end:

10721628.00

Cash and Cash Equivalents Prior Fiscal Year-end:

24258513.00

Accounts Receivable Most Recent Fiscal Year-end:

7189526.00

Accounts Receivable Prior Fiscal Year-end:

10440538.00

Short-term Debt Most Recent Fiscal Year-end:

2230005.00

Short-term Debt Prior Fiscal Year-end:

208373.00

Long-term Debt Most Recent Fiscal Year-end:

4625854.00

Long-term Debt Prior Fiscal Year-end:

4855859.00

Revenue/Sales Most Recent Fiscal Year-end:

75516562.00

Revenue/Sales Prior Fiscal Year-end:

122793064.00

Cost of Goods Sold Most Recent Fiscal Year-end:

40392001.00

Cost of Goods Sold Prior Fiscal Year-end:

77129092.00

Taxes Paid Most Recent Fiscal Year-end:

-765185.00

Taxes Paid Prior Fiscal Year-end:

819179.00

Net Income Most Recent Fiscal Year-end:

-13710708.00

Net Income Prior Fiscal Year-end:

17118611.00