Exhibit 1A-15.1
TABLE I: EXPERIENCE IN RAISING AND INVESTING FUNDS
Program Name | Offering Period (Start - End Date) | Total Dollar Amount Offered | Total Dollar Amount Raised | Length of Offering (Months) | Months to Invest 90% of Amount Available for Investment | |||||||||||
ILS Growth Fund I LP (Initial) | 06/01/2018 - 06/30/2022 | $ | 50,000,000 | $ | 50,000,000 | 48 | 48 | |||||||||
ILS Growth Fund I LP (2nd Offering Update) | 07/01/2022 – 11/01/2023 | $ | 100,000,000 | $ | 96,074,935 | 16 | 12 | |||||||||
ILS Growth Fund I LP (3rd Offering Update) | 11/01/2023 - Evergreen | $ | 150,000,000 | $ | 111,502,543 | 8+ | Evergreen still raising | |||||||||
ILS Income Fund I LP | 06/01/2018 - Evergreen | $ | 50,000,000 | $ | 13,313,842 | 74+ | Evergreen still raising | |||||||||
ILS RE Capital I LLC | 03/01/2022 - Evergreen | $ | 75,000,000 | $ | 7,606,207 | 28+ | Evergreen still raising | |||||||||
ILS RE Capital II LLC | 12/01/2022 - Evergreen | $ | 75,000,000 | $ | 4,334,058 | 19+ | Evergreen still raising |
CF Industry Guide 5 Table III
ILS Fixed Horizon LLC
Table III
Operating Results for the year ended December 31, 2023, of projected closed within 5 years (unaudited)
ILS Growth Fund I LP | ILS Income Fund I LP | ILS RE Capital LLC | ILS RE Capital II LLC | |||||||||||||
Gross Revenues: | ||||||||||||||||
Revenue from Operations | $ | 13,390,319.27 | $ | 1,409,109.40 | $ | 888,044.12 | $ | 280,628.07 | ||||||||
Less: Operating Expenses | $ | 183,798.28 | $ | 32,665.41 | $ | 6,198.10 | $ | 12,273.00 | ||||||||
Less: Interest Expenses | $ | 922,696.38 | $ | 5,061.31 | $ | 557,884.70 | $ | 189,951.22 | ||||||||
Less: Depreciation | $ | - | $ | - | $ | - | ||||||||||
More: Other Income (Bank interest) | $ | 96.10 | $ | 17.35 | $ | 199.48 | $ | 5.52 | ||||||||
Less: Other Expenses (Franchise Tax) | $ | 75,669.40 | $ | 5,110.68 | $ | - | $ | - | ||||||||
Net Income-GAAP Basis | $ | 12,208,251.31 | $ | 1,366,289.35 | $ | 324,160.80 | $ | 78,409.37 | ||||||||
Cash Flow: | ||||||||||||||||
Net cash flows from operating activities | $ | (9,595,172.41 | ) | $ | (1,277,247.25 | ) | $ | 21,340.68 | $ | (1,452.19 | ) | |||||
Net cash flows from investing activities | $ | (1,405.00 | ) | $ | 1,655.40 | $ | 2,972.70 | $ | 1,718.00 | |||||||
Net cash flows from financing activities | $ | 9,596,830.06 | $ | 1,275,583.48 | $ | (65,353.53 | ) | $ | - | |||||||
Net Cash generated (deficiency) after cash distributions | $ | 252.65 | $ | (8.37 | ) | $ | (41,040.15 | ) | $ | 265.81 | ||||||
Net Cash generated (deficiency) after cash distributions and special items | $ | 252.65 | $ | (8.37 | ) | $ | (41,040.15 | ) | $ | 265.81 | ||||||
Cash Distributions to Investors Source (on GAAP basis): | $ | - | $ | - | $ | - | $ | - | ||||||||
Investment Income | $ | - | $ | - | $ | - | $ | - | ||||||||
Return of Capital | $ | - | $ | - | $ | - | $ | - | ||||||||
Source (on cash basis): | $ | - | $ | - | $ | - | $ | - | ||||||||
Sales | $ | - | $ | - | $ | - | $ | - | ||||||||
Refinancing | $ | - | $ | - | $ | - | $ | - | ||||||||
Operations | $ | - | $ | - | $ | - | $ | - | ||||||||
Other | $ | - | $ | - | $ | - | $ | - |
CF Industry Guide 5 Table III
ILS Fixed Horizon LLC
Table III
Operating Results for the year ended December 31, 2022, of projected closed within 5 years (unaudited)
ILS Growth Fund I LP | ILS Income Fund I LP | ILS RE Capital LLC | ILS RE Capital II LLC | |||||||||||||
Gross Revenues: | ||||||||||||||||
Revenue from Operations | $ | 8,612,232.55 | $ | 968,364.39 | $ | 214,328.58 | $ | - | ||||||||
Less: Operating Expenses | $ | 43,111.53 | $ | 9,316.02 | $ | 49,073.02 | $ | 5,999.86 | ||||||||
Less: Interest Expenses | $ | 1,268,988.77 | $ | 58,374.83 | $ | 122,469.56 | $ | - | ||||||||
Less: Depreciation | $ | - | $ | - | $ | - | $ | - | ||||||||
More: Other Income (Bank interest/Discounted Notes) | $ | 39.32 | $ | 25,890.83 | $ | 84.35 | $ | 0.34 | ||||||||
Less: Other Expenses (Franchise Tax) | $ | 12,800.00 | $ | - | $ | - | $ | - | ||||||||
Net Income-GAAP Basis | $ | 7,287,371.57 | $ | 926,564.37 | $ | 42,870.35 | $ | (5,999.52 | ) | |||||||
Cash Flow: | ||||||||||||||||
Net cash flows from operating activities | $ | (38,127,913.50 | ) | $ | (3,145,064.53 | ) | $ | 56,659.79 | $ | 4,109.24 | ||||||
Net cash flows from investing activities | $ | (13,344.60 | ) | $ | 1,655.40 | $ | (15,489.20 | ) | $ | (4,667.25 | ) | |||||
Net cash flows from financing activities | $ | 38,160,372.16 | $ | 3,143,689.63 | $ | 1,000.00 | $ | 1,000.00 | ||||||||
Net Cash generated (deficiency) after cash distributions | $ | 19,114.06 | $ | 280.50 | $ | 42,170.59 | $ | 441.99 | ||||||||
Net Cash generated (deficiency) after cash distributions and special items | $ | 19,114.06 | $ | 280.50 | $ | 42,170.59 | $ | 441.99 | ||||||||
Cash Distributions to Investors Source (on GAAP basis): | $ | - | $ | - | $ | - | $ | - | ||||||||
Investment Income | $ | - | $ | - | $ | - | $ | - | ||||||||
Return of Capital | $ | - | $ | - | $ | - | $ | - | ||||||||
Source (on cash basis): | $ | - | $ | - | $ | - | $ | - | ||||||||
Sales | $ | - | $ | - | $ | - | $ | - | ||||||||
Refinancing | $ | - | $ | - | $ | - | $ | - | ||||||||
Operations | $ | - | $ | - | $ | - | $ | - | ||||||||
Other | $ | - | $ | - | $ | - | $ | - |
CF Industry Guide 5 Table III
ILS Fixed Horizon LLC
Table III
Operating Results for the year ended December 31, 2021, of projected closed within 5 years (unaudited)
ILS Growth Fund I LP | ILS Income Fund I LP | |||||||
Gross Revenues: | ||||||||
Revenue from Operations | $ | 3,867,082.61 | $ | 565,363.80 | ||||
Less: Operating Expenses | $ | 37,236.03 | $ | 9,579.36 | ||||
Less: Interest Expenses | $ | 845,960.52 | $ | 120,712.36 | ||||
Less: Depreciation | $ | - | $ | - | ||||
More: Other Income (Bank interest) | $ | 29.12 | $ | 10.18 | ||||
Less: Other Expenses (Franchise Tax) | $ | 1,542.00 | $ | - | ||||
Net Income-GAAP Basis | $ | 2,982,373.18 | $ | 435,082.26 | ||||
Cash Flow: | ||||||||
Net cash flows from operating activities | $ | (18,129,817.68 | ) | $ | (4,356,240.81 | ) | ||
Net cash flows from investing activities | $ | 1,655.40 | $ | 1,655.40 | ||||
Net cash flows from financing activities | $ | 18,119,869.36 | $ | 4,352,673.18 | ||||
Net Cash generated (deficiency) after cash distributions | $ | (8,292.92 | ) | $ | (1,912.23 | ) | ||
Net Cash generated (deficiency) after cash distributions and special items | $ | (8,292.92 | ) | $ | (1,912.23 | ) | ||
Cash Distributions to Investors Source (on GAAP basis): | $ | - | $ | - | ||||
Investment Income | $ | - | $ | - | ||||
Return of Capital | $ | - | $ | - | ||||
Source (on cash basis): | $ | - | $ | - | ||||
Sales | $ | - | $ | - | ||||
Refinancing | $ | - | $ | - | ||||
Operations | $ | - | $ | - | ||||
Other | $ | - | $ | - |
CF Industry Guide 5 Table III
ILS Fixed Horizon LLC
Table III
Operating Results for the year ended December 31, 2020, of projected closed within 5 years (unaudited)
ILS Growth Fund I LP | ILS Income Fund I LP | |||||||
Gross Revenues: | ||||||||
Revenue from Operations | $ | 1,281,558.92 | $ | 155,971.86 | ||||
Less: Operating Expenses | $ | 10,576.23 | $ | 5,949.00 | ||||
Less: Interest Expenses | $ | 454,197.64 | $ | 78,663.26 | ||||
Less: Depreciation | $ | - | $ | - | ||||
More: Other Income (Bank interest) | $ | 138.38 | $ | 20.00 | ||||
Less: Other Expenses (Franchise Tax) | $ | - | $ | - | ||||
Net Income-GAAP Basis | $ | 816,923.43 | $ | 71,379.60 | ||||
Cash Flow: | ||||||||
Net cash flows from operating activities | $ | (9,669,327.45 | ) | $ | (1,080,891.70 | ) | ||
Net cash flows from investing activities | $ | 1,655.40 | $ | 1,655.40 | ||||
Net cash flows from financing activities | $ | 9,676,412.23 | $ | 1,078,985.11 | ||||
Net Cash generated (deficiency) after cash distributions | $ | 8,740.18 | $ | (251.19 | ) | |||
Net Cash generated (deficiency) after cash distributions and special items | $ | 8,740.18 | $ | (251.19 | ) | |||
Cash Distributions to Investors Source (on GAAP basis): | $ | - | $ | - | ||||
Investment Income | $ | - | $ | - | ||||
Return of Capital | $ | - | $ | - | ||||
Source (on cash basis): | $ | - | $ | - | ||||
Sales | $ | - | $ | - | ||||
Refinancing | $ | - | $ | - | ||||
Operations | $ | - | $ | - | ||||
Other | $ | - | $ | - |
CF Industry Guide 5 Table III
ILS Fixed Horizon LLC
Table III
Operating Results for the year ended December 31, 2019, of projected closed within 5 years (unaudited)
ILS Growth Fund I LP | ILS Income Fund I LP | |||||||
Gross Revenues: | ||||||||
Revenue from Operations | $ | 214,959.85 | $ | 44,871.37 | ||||
Less: Operating Expenses | $ | 16,480.40 | $ | 13,915.40 | ||||
Less: Interest Expenses | $ | 82,735.59 | $ | 9,346.85 | ||||
Less: Depreciation | $ | - | $ | - | ||||
More: Other Income (Bank interest) | $ | 177.91 | $ | 62.69 | ||||
Less: Other Expenses (Franchise Tax) | $ | - | $ | - | ||||
Net Income-GAAP Basis | $ | 115,921.77 | $ | 21,671.81 | ||||
Cash Flow: | ||||||||
Net cash flows from operating activities | $ | (1,916,368.34 | ) | $ | (63,242.09 | ) | ||
Net cash flows from investing activities | $ | 1,655.40 | $ | 1,655.40 | ||||
Net cash flows from financing activities | $ | 1,920,042.58 | $ | 53,325.15 | ||||
Net Cash generated (deficiency) after cash distributions | $ | 5,329.64 | $ | (8,261.54 | ) | |||
Net Cash generated (deficiency) after cash distributions and special items | $ | 5,329.64 | $ | (8,261.54 | ) | |||
Cash Distributions to Investors Source (on GAAP basis): | $ | - | $ | - | ||||
Investment Income | $ | - | $ | - | ||||
Return of Capital | $ | - | $ | - | ||||
Source (on cash basis): | $ | - | $ | - | ||||
Sales | $ | - | $ | - | ||||
Refinancing | $ | - | $ | - | ||||
Operations | $ | - | $ | - | ||||
Other | $ | - | $ | - |
TABLE IV: RESULTS OF COMPLETED PROGRAMS
Program Name | Date Closed | Duration (Months) | Aggregate Amount Raised | Annualized Return on Investment | Median Annual Leverage | Aggregate Compensation Paid to Sponsor | ||||||||||||||
ILS Growth Fund I LP | Present (Evergreen) | 74+ | $ | 111,502,543 | Overall 8.49%; Last12Mths 10.6% | 8.65% | $ | 6,855,771 | ||||||||||||
ILS Income Fund I LP | Present (Evergreen) | 74+ | $ | 13,313,842 | Overall 7.31%; Last12Mths 8.4% | 7.61% | $ | 763,197 | ||||||||||||
ILS RE Capital LLC | Present (Evergreen) | 28+ | $ | 7,606,207 | Overall 5.41%; Last12Mths 7.16% | 6.92% | $ | 426,503 | ||||||||||||
ILS RE Capital II LLC | Present (Evergreen) | 19+ | $ | 4,334,058 | Overall 6.35%; Last12Mths 7.30% | 7.08% | $ | 154,653 |
TABLE V: SALES OR DISPOSAL OF LOANS
Item No. | Date of Sale/Disposal | Title of Each Class of Property | Principal Amount of Notes | Nature and Amount of Consideration Received | Gain or (Loss) on Sale/Disposal | Name and Business Address of Purchaser | Relationship to Issuer | Terms of Transaction | Purpose of Transaction | |||||||||
1 | Various | Secured Note from Affiliate ILS Lending LLC / Pearl Funding LLC | $0.00 (None since sold back at Principal Amount) | Cash: $0.00 (None since sold back at Principal Amount) | $0.00 (None since sold back at Principal Amount) | ILS Lending LLC / Pearl Funding LLC 210 Market Street El Campo TX 77437 | Affiliate | Sale at principle plus accrued interest for no loss of interest income or Asset Value | To buy back loan that is in Default to Affiliate to Dispose of |