To Our Current and Future Shareholders,

I'm Ray Rozycki. My son Harmon and I invented the first and only patented alcohol-filled popping boba pearls. Then we went and found the exact team that has built and sold a successful spirits company.

Mark Andrews built Castle Brands from scratch and sold it to Pernod Ricard for $300M. Roseann Sessa spent a decade helping him do it. Dr. Phillip Frost — who built and exited two major pharmaceutical companies — has invested $1.95M of his own capital into Boba POPS. These people know what a category-defining brand looks like at every stage. They chose this one.

The product is unlike anything else in alcohol. Boba POPS are alcohol-filled popping boba pearls. Drop them into a cocktail, a glass of sparkling wine, or a shot, and they deliver a burst of flavor and texture that transforms the drink. When someone sees them in a glass across a bar, they immediately want one. That's the most powerful form of marketing that exists.

The numbers reflect real traction. We sold ~5,000 cases in 2024 (~$800K revenue). In 2025, we sold ~25,000 cases (~$2.8M revenue) — 3.6x growth. We are now in 10,000+ points of distribution across 75 chains in 33 states, with full national coverage expected by the end of 2026

Our moat is real. U.S. Patent No. 10,077,419 protects our production process through 2035. We operate the only domestic facility capable of producing alcohol-filled boba, built around specialized equipment that isn't readily available in the U.S. By the time the patent expires, we intend to have the brand equity and distribution depth that makes us the only rational answer in the category.

The RTD line changes the growth trajectory. Our ready-to-drink line opens the fastest-growing segment in beverage alcohol and answers the consumer education question instantly. Test markets in 2026, national distribution in 2027, supported by new high-capacity equipment coming online in our Pittsburgh facility.

The exit path is the same one this team has already walked. While our plans are much larger, even at our 2027 target of 100,000 cases, we are projecting ~$12M in revenue and >$7M in Net Brand Contribution. At a 15x NBC multiple — consistent with comparable spirits exits — that implies a valuation of ~$100M, or roughly $20 per share.

Future projections are not guaranteed.

We are raising $1M to complete our Pittsburgh facility, launch the RTD line, and fund regional sales execution. Each dollar has a job.

Sincerely, Ray Rozycki CEO, Boba POPS®

Boba POPS are alcohol-filled boba pearls made with flavored liqueur. Each pearl delivers a burst of flavor that pops in your mouth as you sip — creating an entirely new kind of drink experience. It's alcohol that transforms whatever is in your glass.

Available in 9 flavors, they work in cocktails, sparkling wine, shots, frozen drinks, and hot toddies. Vegan, gluten-free, and dairy-free.

What Protects Boba POPS® from Competitors

We're patented and trademarked. U.S. Patent No. 10,077,419 protects our production process through 2035, creating a legal barrier to direct replication. The Boba POPS® name is federally trademarked.

We were first. Boba POPS was first to market in America. With 10,000+ points of distribution and national distributor agreements already in place, we have a head start that takes years and tens of millions of dollars to replicate.

We're the only U.S. producer — and that's hard to change. We operate the only domestic facility capable of producing alcohol-filled boba, built around specialized equipment sourced from China and Argentina that is not readily available in the U.S. The majority of global boba production is in Asia. Our U.S. production gives us supply chain control, tariff insulation, and a competitive moat that offshore players cannot easily overcome.

The know-how is ours. Our proprietary flavor profiles, ingredient blends, and shelf-life formulations have been refined over four years of production. They are not something a competitor can purchase or reverse-engineer quickly.

Why Retailers Love Boba POPS®

Boba POPS doesn't fight for shelf space — it creates a new one. There's nothing like it in alcohol, making it a true incremental category that adds revenue without cannibalizing existing brands.

The economics are compelling. For restaurants and bars, a $180 case generates roughly $1,200 in on-premise revenues — about $1,000 in incremental gross profit per case for the operator. For distributors, it adds revenue without competing with anything already in their portfolio.

We're a digital-first brand with 10M+ impressions across social platforms. Our marketing drives consumer demand before shoppers ever enter a store — bringing traffic to retail partners from people asking for Boba POPS by name.

In 2026 we are accelerating into on-premise. When consumers see Boba POPS served in a martini or a glass of champagne across a bar, it answers the "how do I use this?" question instantly, drives organic social sharing, and increases ticket size. On-premise and off-premise reinforce each other — and we now have the distribution footprint to qualify for regional and national chain menu placements.

Why Consumers Love Boba POPS®

Boba POPS deliver an unexpected burst of premium liqueur with every sip — a sensory experience you don't get from any other spirit. The pearls are visual and made for sharing, which means customers naturally post, tag, and spread the word. When someone sees Boba POPS in a friend's glass, they immediately want one. That organic FOMO has generated 10M+ impressions without paid amplification.

GROWTH & DISTRIBUTION

In 24 months, we've grown from concept to 25,000 cases annually.

Future projections are not guaranteed.

We increased volume almost 400% in 2025 and are targeting 100,000 cases in 2027, driven by RTD expansion and full national chain penetration.

Ready-to-Drink: The Next Big Step

RTD cocktails are the fastest-growing segment in beverage alcohol. Our RTD line brings the Boba POPS experience into a format that needs no explanation — you open it and enjoy it. That solves the consumer education challenge and opens a market that our core product alone cannot fully address.

Margins are comparable to our existing product, with meaningful upside at scale. We'll enter test markets in 2026 with lemonade and tea variations, and target national distribution in 2027, supported by new high-capacity packaging equipment coming online in our Pittsburgh facility.

The Exit Strategy

Castle Brands was built by this team from concept to a $300M+ sale to Pernod Ricard. We are applying the same playbook: defensible IP, national distribution, and a brand in a category with no direct competitor.

We have aspirations to build a much larger brand, but even at 100,000 cases — our 2027 target — we project about $12M in revenue and $7M of Net Brand Contribution. Category leading spirits brands have achieved exit multiples of 15x NBC or more. At that multiple, Boba POPS implies a valuation of about $100M, or roughly $20 per share — representing an attractive return on today's $4 share price.

A note on risk. We are an early-stage company in a new category. Consumer education takes time and capital. Retail execution is hard. The RTD launch could be delayed. Competition, while legally constrained by our patent, could emerge from unexpected directions. We are being transparent about this because we want investors who understand what they own. Those are some of the risks. The opportunity is a category-defining brand with a 9-year patent, a proven team, and a product that often sells itself the first time that someone sees it.

Future projections are not guaranteed.

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