This is a draft of the Form C to be filed with the SEC.

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Form C

Arunas A. Chesonis
Chris Dugan
Samantha Bitter
Samantha Bitter
BE ADVISED

This filing will not be reviewed by Wefunder.
The information below will be submitted to the SEC on your behalf.

Cover Page

Name of issuer:

Imago Rehab Inc.
  • Form:
    Corporation
  • Jurisdiction of Incorporation/Organization:
    DE
  • Date of organization:
    11/24/2020

Physical address of issuer:

110 Canal St. 3rd Floor
c/o UMass Lowell Innovation Hub
Lowell MA 01852

Website of issuer:

https://imagorehab.com/

Name of intermediary through which the offering will be conducted:

Wefunder Portal LLC

CIK number of intermediary:

0001670254

SEC file number of intermediary:

007-00033

CRD number, if applicable, of intermediary:

283503

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:

6.9% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.

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

No

Type of security offered:

  • Common Stock
  • Preferred Stock
  • Debt
  • Other

If Other, describe the security offered:

Target number of securities to be offered:

49,737

Price:

$1.005300

Method for determining price:

Dividing pre-money valuation $12,000,000.00 by number of shares outstanding on fully diluted basis.

Target offering amount:

$50,000.00

Oversubscriptions accepted:

  • Yes
  • No

If yes, disclose how oversubscriptions will be allocated:

  • Pro-rata basis
  • First-come, first-served basis
  • Other

If other, describe how oversubscriptions will be allocated:

As determined by the issuer

Maximum offering amount (if different from target offering amount):

$1,235,000.00

Deadline to reach the target offering amount:

4/30/2026 1
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.

1 Deadline will be adjusted to be 365 days from when filed with SEC.

Current number of employees:

10
Most recent fiscal year-end: Prior fiscal year-end:
Total Assets: $369,218.00 $1,158,291.00
Cash & Cash Equivalents: $303,990.00 $1,122,731.00
Accounts Receivable: $53,956.00 $23,289.00
Current Liabilities: $86,308.00 $98,887.00
Non-Current Liabilities: $0.00 $0.00
Revenues/Sales: $219,364.00 $107,135.00
Cost of Goods Sold: $174,716.00 $69,052.00
Taxes Paid: $0.00 $0.00
Net Income: ($1,886,145.00) ($1,350,533.00)

Select the jurisdictions in which the issuer intends to offer the securities:

AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, B5, GU, PR, VI, 1V

Describe the progress of the offering:

Offering Statement

Respond to each question in each paragraph of this part. Set forth each question and any notes, but not any instructions thereto, in their entirety. If disclosure in response to any question is responsive to one or more other questions, it is not necessary to repeat the disclosure. If a question or series of questions is inapplicable or the response is available elsewhere in the Form, either state that it is inapplicable, include a cross-reference to the responsive disclosure, or omit the question or series of questions.

Be very careful and precise in answering all questions. Give full and complete answers so that they are not misleading under the circumstances involved. Do not discuss any future performance or other anticipated event unless you have a reasonable basis to believe that it will actually occur within the foreseeable future. If any answer requiring significant information is materially inaccurate, incomplete or misleading, the Company, its management and principal shareholders may be liable to investors based on that information.

1. Name of issuer:

Imago Rehab Inc.

2. Check this box to certify that all of the following statements are true for the issuer.

  • Organized under, and subject to, the laws of a State or territory of the United States or the District of Columbia.
  • Not subject to the requirement to file reports pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934.
  • Not an investment company registered or required to be registered under the Investment Company Act of 1940.
  • Not ineligible to rely on this exemption under Section 4(a)(6) of the Securities Act as a result of a disqualification specified in Rule 503(a) of Regulation Crowdfunding.
  • Has filed with the Commission and provided to investors, to the extent required, the ongoing annual reports required by Regulation Crowdfunding during the two years immediately preceding the filing of this offering statement (or for such shorter period that the issuer was required to file such reports).
  • Not a development stage company that (a) has no specific business plan or (b) has indicated that its business plan is to engage in a merger or acquisition with an unidentified company or companies.
INSTRUCTION TO QUESTION 2: If any of these statements are not true, then you are NOT eligible to rely on this exemption under Section 4(a)(6) of the Securities Act.

3. Has the issuer or any of its predecessors previously failed to comply with the ongoing reporting requirements of Rule 202 of Regulation Crowdfunding?

Yes No

4. Provide the following information about each director (and any persons occupying a similar status or performing a similar function) of the issuer.


Director
Principal Occupation Main
Employer
Year Joined as Director
Gene Tacy 2023
Conor James Walsh Professor Harvard University 2020
Kristin Nuckols 2020
Arunas A. Chesonis Venture Capitalist Safar Partners 2021
James Christopher Dugan CEO Imago Rehab Inc 2023
For three years of business experience, refer to Appendix D: Director & Officer Work History.

5. Provide the following information about each officer (and any persons occupying a similar status or performing a similar function) of the issuer.

Officer Positions Held Year Joined
Gene Tacy Treasurer 2023
Gene Tacy President 2023
Gene Tacy COO 2023
Kristin Nuckols Secretary 2020
Kristin Nuckols CCO 2020
James Christopher Dugan CEO 2023
For three years of business experience, refer to Appendix D: Director & Officer Work History.
INSTRUCTION TO QUESTION 5: For purposes of this Question 5, the term officer means a president, vice president, secretary, treasurer or principal financial officer, comptroller or principal accounting officer, and any person that routinely performing similar functions.

6. Provide the name and ownership level of each person, as of the most recent practicable date, who is the beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power.

Name of Holder No. and Class
of Securities Now Held
% of Voting Power Prior to Offering
Safar Partners Fund 2601290.0 Series 1, 2, and 3 Preferred 21.4

INSTRUCTION TO QUESTION 6: The above information must be provided as of a date that is no more than 120 days prior to the date of filing of this offering statement.

To calculate total voting power, include all securities for which the person directly or indirectly has or shares the voting power, which includes the power to vote or to direct the voting of such securities. If the person has the right to acquire voting power of such securities within 60 days, including through the exercise of any option, warrant or right, the conversion of a security, or other arrangement, or if securities are held by a member of the family, through corporations or partnerships, or otherwise in a manner that would allow a person to direct or control the voting of the securities (or share in such direction or control — as, for example, a co-trustee) they should be included as being "beneficially owned." You should include an explanation of these circumstances in a footnote to the "Number of and Class of Securities Now Held." To calculate outstanding voting equity securities, assume all outstanding options are exercised and all outstanding convertible securities converted.

7. Describe in detail the business of the issuer and the anticipated business plan of the issuer.

For a description of our business and our business plan, please refer to the attached Appendix A, Business Description & Plan

INSTRUCTION TO QUESTION 7: Wefunder will provide your company's Wefunder profile as an appendix (Appendix A) to the Form C in PDF format. The submission will include all Q&A items and "read more" links in an un-collapsed format. All videos will be transcribed.

This means that any information provided in your Wefunder profile will be provided to the SEC in response to this question. As a result, your company will be potentially liable for misstatements and omissions in your profile under the Securities Act of 1933, which requires you to provide material information related to your business and anticipated business plan. Please review your Wefunder profile carefully to ensure it provides all material information, is not false or misleading, and does not omit any information that would cause the information included to be false or misleading.

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment.

In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document.

The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature.

These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.

8. Discuss the material factors that make an investment in the issuer speculative or risky:

  • We have a history of operating losses.  Factors both within and outside of our control could result in a delay in our ability to achieve cash flow breakeven on a quarterly basis.
  • We are dependent upon external sources for the financing of our operations, failure to obtain ongoing funding from those sources will adversely affect the business plan.
  • Our strategy to maximize revenues by focusing our efforts on patients whose insurance reimburses for tele-rehabilitation services may be affected by changes in the regulatory environment and changes in individual insurer policies and procedures.  Adverse changes in an insurer’s reimbursement policy regarding the tele-rehabilitation could have an adverse effect on our business.
  • Our ability to obtain and maintain our strategic collaboration and to realize the intended benefits of such collaborations is to key to revenue growth. 
  • Our business plan requires effective execution to be successful, any execution failure can negatively affect our plans success. 
  • Our ability to maintain and grow our reputation and to achieve and maintain the market acceptance of our services.
  • Our ability to improve our services and develop new service lines and products are important to grown and revenue generation.
  • Our ability to manage the growth of our operations over time, through hiring of staff to provide services to our customers.
  • We currently rely, and in the future will rely, on revenue from a service business model, and we may not be able to achieve or maintain market acceptance.
  • We may not be able to obtain adequate levels of third-party payer reimbursement, including reimbursement by Medicare, for our services.
  • The market for tele-rehabilitation services is new and the rate of adoption is uncertain, and important assumptions about the potential market for our services may be inaccurate.
  • We are subject to extensive governmental regulations at the state level relating to the licensing of our therapists, failure to comply with regulations could lead to withdrawal from certain markets.
  • Our internal computer systems, or those of our customers, collaborators or other contractors, may be subject to cyber-attacks or security breaches, which could result in a material disruption of our product development and service programs. 
  • Our success depends in part on our ability to obtain and maintain protection for the intellectual property relating to or incorporated into our products and services.
  • Changes in economic conditions, including recessions, economic downturns, or fluctuations in interest rates, which could impact customer spending behaviors and ability to pay for tele-rehabilitation services.
  • Exposure to lawsuits, regulatory investigations, or claims related to product liability, privacy breaches, or intellectual property disputes.
  • Besides changes in reimbursement policies, broader regulatory changes at the federal or state level that could affect your operations, compliance costs, or market access.
  • Events or controversies that could damage our brand image or reputation in the market, impacting customer trust, adoption and investor confidence.
  • Imago's patents are not under the company's name, but rather are exclusively and perpetually licensed from Harvard University and are under the university's name.
  • Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.

INSTRUCTION TO QUESTION 8: Avoid generalized statements and include only those factors that are unique to the issuer. Discussion should be tailored to the issuer's business and the offering and should not repeat the factors addressed in the legends set forth above. No specific number of risk factors is required to be identified.

The Offering

9. What is the purpose of this offering?

The Company intends to use the net proceeds of this offering for working capital and general corporate purposes, which includes the specific items listed in Item 10 below. While the Company expects to use the net proceeds from the Offering in the manner described above, it cannot specify with certainty the particular uses of the net proceeds that it will receive from this Offering. Accordingly, the Company will have broad discretion in using these proceeds.

10. How does the issuer intend to use the proceeds of this offering?

If we raise: $50,000
Use of Proceeds:
10% towards marketing, 6.9% towards wefunder fees, 10% towards state expansion, 43.1% towards hiring additional therapists and administrative staff, 30% towards partnerships
If we raise: $1,235,000
Use of Proceeds:
10% towards marketing, 6.9% towards wefunder fees, 10% towards state expansion, 63.1% towards hiring additional therapists and administrative staff, 10% towards partnerships

INSTRUCTION TO QUESTION 10: An issuer must provide a reasonably detailed description of any intended use of proceeds, such that investors are provided with an adequate amount of information to understand how the offering proceeds will be used. If an issuer has identified a range of possible uses, the issuer should identify and describe each probable use and the factors the issuer may consider in allocating proceeds among the potential uses. If the issuer will accept proceeds in excess of the target offering amount, the issuer must describe the purpose, method for allocating oversubscriptions, and intended use of the excess proceeds with similar specificity. Please include all potential uses of the proceeds of the offering, including any that may apply only in the case of oversubscriptions. If you do not do so, you may later be required to amend your Form C. Wefunder is not responsible for any failure by you to describe a potential use of offering proceeds.

11. How will the issuer complete the transaction and deliver securities to the investors?

Book Entry and Investment in the Co-Issuer. Investors will make their investments by investing in interests issued by one or more co-issuers, each of which is a special purpose vehicle (“SPV”). The SPV will invest all amounts it receives from investors in securities issued by the Company. Interests issued to investors by the SPV will be in book entry form. This means that the investor will not receive a certificate representing his or her investment. Each investment will be recorded in the books and records of the SPV. In addition, investors’ interests in the investments will be recorded in each investor’s “Portfolio” page on the Wefunder platform. All references in this Form C to an Investor’s investment in the Company (or similar phrases) should be interpreted to include investments in a SPV.

12. How can an investor cancel an investment commitment?

NOTE: Investors may cancel an investment commitment until 48 hours prior to the deadline identified in these offering materials.

The intermediary will notify investors when the target offering amount has been met. If the issuer reaches the target offering amount prior to the deadline identified in the offering materials, it may close the offering early if it provides notice about the new offering deadline at least five business days prior to such new offering deadline (absent a material change that would require an extension of the offering and reconfirmation of the investment commitment).

If an investor does not cancel an investment commitment before the 48-hour period prior to the offering deadline, the funds will be released to the issuer upon closing of the offering and the investor will receive securities in exchange for his or her investment.

If an investor does not reconfirm his or her investment commitment after a material change is made to the offering, the investor's investment commitment will be cancelled and the committed funds will be returned.

An Investor’s right to cancel. An Investor may cancel his or her investment commitment at any time until 48 hours prior to the offering deadline.

If there is a material change to the terms of the offering or the information provided to the Investor about the offering and/or the Company, the Investor will be provided notice of the change and must re-confirm his or her investment commitment within five business days of receipt of the notice. If the Investor does not reconfirm, he or she will receive notifications disclosing that the commitment was cancelled, the reason for the cancellation, and the refund amount that the investor is required to receive. If a material change occurs within five business days of the maximum number of days the offering is to remain open, the offering will be extended to allow for a period of five business days for the investor to reconfirm.

If the Investor cancels his or her investment commitment during the period when cancellation is permissible, or does not reconfirm a commitment in the case of a material change to the investment, or the offering does not close, all of the Investor’s funds will be returned within five business days.

Within five business days of cancellation of an offering by the Company, the Company will give each investor notification of the cancellation, disclose the reason for the cancellation, identify the refund amount the Investor will receive, and refund the Investor’s funds.


The Company’s right to cancel. The Investment Agreement you will execute with us provides the Company the right to cancel for any reason before the offering deadline.

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

Ownership and Capital Structure

13. Describe the terms of the securities being offered.

Priced Round: $12,000,000.00 pre-money valuation

See exact security attached as Appendix B, Investor Contracts

Imago Rehab Inc. is offering up to 1,228,489 shares of Series Seed-3 Preferred Stock, at a price per share of $1.0053.

The campaign maximum is $1,235,000.00 and the campaign minimum is $50,000.00.

Securities Issued by the SPV

Instead of issuing its securities directly to investors, the Company has decided to issue its securities to the SPV, which will then issue interests in the SPV to investors. The SPV is formed concurrently with the filing of the Form C. Given this, the SPV does not have any financials to report. The SPV is managed by Wefunder Admin, LLC and is a co-issuer with the Company of the securities being offered in this offering. The Company’s use of the SPV is intended to allow investors in the SPV to achieve the same economic exposure, voting power, and ability to assert State and Federal law rights, and receive the same disclosures, as if they had invested directly in the Company. The Company’s use of the SPV will not result in any additional fees being charged to investors.

The SPV has been organized and will be operated for the sole purpose of directly acquiring, holding and disposing of the Company’s securities, will not borrow money and will use all of the proceeds from the sale of its securities solely to purchase a single class of securities of the Company. As a result, an investor investing in the Company through the SPV will have the same relationship to the Company’s securities, in terms of number, denomination, type and rights, as if the investor invested directly in the Company.

Voting Rights

If the securities offered by the Company and those offered by the SPV have voting rights, those voting rights may be exercised by the investor or his or her proxy. The applicable proxy is the Lead Investor, if the Proxy (described below) is in effect.

Proxy to the Lead Investor

The SPV securities have voting rights. With respect to those voting rights, the investor and his, her, or its transferees or assignees (collectively, the “Investor”), through a power of attorney granted by Investor in the Investor Agreement, has appointed or will appoint the Lead Investor as the Investor’s true and lawful proxy and attorney (the “Proxy”) with the power to act alone and with full power of substitution, on behalf of the Investor to: (i) vote all securities related to the Company purchased in an offering hosted by Wefunder Portal, and (ii) execute, in connection with such voting power, any instrument or document that the Lead Investor determines is necessary and appropriate in the exercise of his or her authority. Such Proxy will be irrevocable by the Investor unless and until a successor lead investor (“Replacement Lead Investor”) takes the place of the Lead Investor. Upon notice that a Replacement Lead Investor has taken the place of the Lead Investor, the Investor will have five (5) calendar days to revoke the Proxy. If the Proxy is not revoked within the 5-day time period, it shall remain in effect.

Restriction on Transferability

The SPV securities are subject to restrictions on transfer, as set forth in the Subscription Agreement and the Limited Liability Company Agreement of Wefunder SPV, LLC, and may not be transferred without the prior approval of the Company, on behalf of the SPV.

14. Do the securities offered have voting rights?

  • Yes
  • No

15. Are there any limitations on any voting or other rights identified above?

See the above description of the Proxy to the Lead Investor.

16. How may the terms of the securities being offered be modified?

This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and may be amended only by a writing executed by all parties.
Pursuant to authorization in the Investor Agreement between each Investor and Wefunder Portal,
Wefunder Portal is authorized to take the following actions with respect to the investment contract between the Company and an investor:
  1. Wefunder Portal may amend the terms of an investment contract, provided that the amended terms are more favorable to the investor than the original terms; and
  2. Wefunder Portal may reduce the amount of an investor’s investment if the reason for the reduction is that the Company’s offering is oversubscribed.

The securities being offered may not be transferred by any purchaser of such securities during the one year period beginning when the securities were issued, unless such securities are transferred:

  1. to the issuer;
  2. to an accredited investor;
  3. as part of an offering registered with the U.S. Securities and Exchange Commission; or
  4. to a member of the family of the purchaser or the equivalent, to a trust controlled by the purchaser, to a trust created for the benefit of a member of the family of the purchaser or the equivalent, or in connection with the death or divorce of the purchaser or other similar circumstance.

NOTE: The term "accredited investor" means any person who comes within any of the categories set forth in Rule 501(a) of Regulation D, or who the seller reasonably believes comes within any of such categories, at the time of the sale of the securities to that person.

The term "member of the family of the purchaser or the equivalent" includes a child, stepchild, grandchild, parent, stepparent, grandparent, spouse or spousal equivalent, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law of the purchaser, and includes adoptive relationships. The term "spousal equivalent" means a cohabitant occupying a relationship generally equivalent to that of a spouse.

17. What other securities or classes of securities of the issuer are outstanding? Describe the material terms of any other outstanding securities or classes of securities of the issuer.

Class of Security Securities
(or Amount)
Authorized
Securities
(or Amount)
Outstanding
Voting
Rights
error
error
error
error
Class of Security Securities Reserved for
Issuance upon Exercise or Conversion
Warrants:
Options:
Other Rights:

An error occurred. Please make a copy of your changes, reload the page and try again.
Or contact support@wefunder.com

Describe any other rights:

The Series Seed-1 Preferred Stock, Series Seed-2 Preferred Stock and Series Seed-3 Preferred Stock (collectively, the “Preferred Stock”) have the same rights, except for the differences described below.

 
Upon a liquidation event, the holders of Series Seed-3 Preferred Stock will receive an amount per share equal to the greater of (i) 1.5 times the original issue price of the Series Seed-3 Preferred Stock, plus any dividends declared but unpaid thereon, or (ii) such amount per share of Series Seed-3 Preferred Stock as would be payable had each share of each series of Preferred Stock been converted to Common Stock, whereas the holders of Series Seed-1 Preferred Stock and Series Seed-2 Preferred Stock will receive, on a pari passu basis, an amount per share equal to the greater of (i) 1 times the applicable original issue price of the Series Seed-1 Preferred Stock and Series Seed-2 Preferred Stock, plus any dividends declared but unpaid thereon, or (ii) such amount per share of Series Seed-1 Preferred Stock and Series Seed-2 Preferred Stock, as applicable, as would be payable had each share of each series of Preferred Stock been converted to Common Stock.
 
The holders of Series Seed-3 Preferred Stock will be paid their liquidation amount first, whereas the holders of Series Seed-1 Preferred Stock and Series Seed-2 Preferred Stock will be paid their liquidation amount second.   
The holders of Series Seed-1 Preferred Stock have the right to elect one director of the Company, whereas the Series Seed-2 Preferred Stock and Series Seed-3 Preferred Stock do not have a right to elect directors of the Company.
 

The differences between the Common Stock and the Preferred Stock are described below.

 
If and when dividends are declared by the Board of Directors of the Company, the Preferred Stock is entitled to receive non-cumulative dividends at a rate of 6% of the applicable original issue price of the Preferred Stock prior to payment of any dividend on the Common Stock, whereas the holders of Common Stock are not entitled to a specific dividend rate and will not be paid any dividends until the Preferred Stock dividends are paid first.
 
Unlike the Preferred Stock, the Common Stock does not have a liquidation preference.  The holders of Common Stock are paid last in connection with a liquidation event after the holders of Preferred Stock.  The holders of Common Stock are paid on a pro rata basis (based on the number of shares held by each holder of Common Stock) out of any remaining consideration that has not be paid to the Preferred Stock.   
The holders of Common Stock have the right to elect three directors of the Company, whereas the Preferred Stock have the right to elect one director of the Company.
 
The holders of Common Stock do not have any specific stockholder consent rights, whereas the holders of Preferred Stock have specific stockholder consent rights to approve certain actions taken by the Company.
 
The holders of Common Stock are not entitled to antidilution rights, whereas the holders of Preferred Stock are entitled to antidilution rights if the Company issues certain types of additional shares of Common Stock.
 
The holders of Preferred Stock are entitled to certain investor rights (such as registration rights, information rights, preemptive rights, and rights of first refusal and co-sale in connection with certain transfers of Common Stock), whereas the holders of Common Stock are not entitled to such rights.Common stockholders are entitled to one vote per share. Preferred shareholders have 1 vote for every common share they could own if converted. Preferred shareholders have the right to convert shares into common stock at a rate of 1 to 1 at the discretion of the shareholder or automatically in change of control events.

18. How may the rights of the securities being offered be materially limited, diluted or qualified by the rights of any other class of security identified above?

In order raise additional capital, the Company will need consent from (i) the Board of Directors of the Company, (ii) the holders of a majority of the outstanding shares of Preferred Stock, voting together as a single class and on an as-converted basis (the “Preferred Majority Vote”), and (iii) the holders of a majority of the outstanding capital stock of the Company, voting together as a single class and on an as-converted basis (collectively, the "Requisite Voting Parties").
To the extent applicable, in cases where the rights of holders of convertible debt, SAFES, or other outstanding options or warrants are exercised, or if new awards are granted under our equity compensation plans, an Investor's interests in the Company may be diluted. This means that the pro-rata portion of the Company represented by the Investor's securities will decrease, which could also diminish the Investor's voting and/or economic rights. In addition, as discussed above, if the Requisite Voting Parties consent to the issuance of additional equity, an Investor's interest will typically also be diluted.

Based on the risk that an Investor's rights could be limited, diluted or otherwise qualified, the Investor could lose all or part of his or her investment in the securities in this offering, and may never see positive returns.
Additional risks related to the rights of other security holders are discussed below, in Question 20.

19. Are there any differences not reflected above between the securities being offered and each other class of security of the issuer?

No.

20. How could the exercise of rights held by the principal shareholders identified in Question 6 above affect the purchasers of the securities being offered?

Safar Partner Fund controls the Preferred Majority Vote (as defined above), which means that they control certain consent rights, including but not limited to, the approval of the issuance of additional securities by the Company, the approval of a mandatory conversion of Preferred Stock in connection with an IPO and the approval of certain sales of the Company. As a result, such principal shareholder may make decisions with which the Investor disagrees, or that negatively affect the value of the Investor's securities in the Company, and the Investor will have no recourse to change these decisions. The Investor's interests may conflict with those of other investors, and there is no guarantee that the Company will develop in a way that is optimal for or advantageous to the Investor.

For example, such principal may change the terms of the Articles of Incorporation for the company, change the terms of securities issued by the Company, change the management of the Company, and even force out minority holders of securities. Such principal may make changes that affect the tax treatment of the Company in ways that are unfavorable to you but favorable to them. They may also vote to engage in new offerings and/or to register certain of the Company's securities in a way that negatively affects the value of the securities the Investor owns. Other holders of securities of the Company may also have access to more information than the Investor, leaving the Investor at a disadvantage with respect to any decisions regarding the securities he or she owns. In cases where the rights of holders of convertible debt, SAFES, or other outstanding options or warrants are exercised, or if new awards are granted under our equity compensation plans, an Investor's interests in the Company may be diluted. This means that the pro-rata portion of the Company represented by the Investor's securities will decrease, which could also diminish the Investor's voting and/or economic rights. In addition, as discussed above, if the Requisite Voting Parties consent to the issuance of additional stock, an Investor's interest will typically also be diluted.

Based on the risks described above, the Investor could lose all or part of his or her investment in the securities in this offering, and may never see positive returns.

21. How are the securities being offered being valued? Include examples of methods for how such securities may be valued by the issuer in the future, including during subsequent corporate actions.

The offering price for the securities offered pursuant to this Form C has been set by Safar Partners Fund, who led the Series Seed-3 financing round. The offering price does not necessarily bear any relationship to the Company's book value, assets, earnings or other generally accepted valuation criteria. In determining the offering price, the Company did not employ investment banking firms or other outside organizations to make an independent appraisal or evaluation. Accordingly, the offering price should not be considered to be indicative of the actual value of the securities offered hereby.

In the future, we will perform valuations of our common stock that take into account factors such as the following:

  1. unrelated third party valuations of our common stock;
  2. the price at which we sell other securities, such as convertible debt or preferred Stock, in light of the rights, preferences and privileges of our those securities relative to those of our common stock;
  3. our results of operations, financial position and capital resources;
  4. current business conditions and projections;
  5. the lack of marketability of our common stock;
  6. the hiring of key personnel and the experience of our management;
  7. the introduction of new products;
  8. the risk inherent in the development and expansion of our products;
  9. our stage of development and material risks related to our business;
  10. the likelihood of achieving a liquidity event, such as an initial public offering or a sale of our company given the prevailing market conditions and the nature and history of our business;
  11. industry trends and competitive environment;
  12. trends in consumer spending, including consumer confidence;
  13. overall economic indicators, including gross domestic product, employment, inflation and interest rates; and
  14. the general economic outlook.

We will analyze factors such as those described above using a combination of financial and market-based methodologies to determine our business enterprise value. For example, we may use methodologies that assume that businesses operating in the same industry will share similar characteristics and that the Company's value will correlate to those characteristics, and/or methodologies that compare transactions in similar securities issued by us that were conducted in the market.

22. What are the risks to purchasers of the securities relating to minority ownership in the issuer?

An Investor in the Company will likely hold a minority position in the Company, and thus be limited as to its ability to control or influence the governance and operations of the Company.

The marketability and value of the Investor’s interest in the Company will depend upon many factors outside the control of the Investor. The Company will be managed by its officers and be governed in accordance with the strategic direction and decision-making of its Board Of Directors, and the Investor will have no independent right to name or remove an officer or member of the Board Of Directors of the Company.

Following the Investor’s investment in the Company, the Company may sell interests to additional investors, which will dilute the percentage interest of the Investor in the Company. The Investor may have the opportunity to increase its investment in the Company in such a transaction, but such opportunity cannot be assured.

The amount of additional financing needed by the Company, if any, will depend upon the maturity and objectives of the Company. The declining of an opportunity or the inability of the Investor to make a follow-on investment, or the lack of an opportunity to make such a follow-on investment, may result in substantial dilution of the Investor’s interest in the Company.

23. What are the risks to purchasers associated with corporate actions, including additional issuances of securities, issuer repurchases of securities, a sale of the issuer or of assets of the issuer or transactions with related parties?

Additional issuances of securities. Following the Investor’s investment in the Company, the Company may sell interests to additional investors, which will dilute the percentage interest of the Investor in the Company. The Investor may have the opportunity to increase its investment in the Company in such a transaction, but such opportunity cannot be assured. The amount of additional financing needed by the Company, if any, will depend upon the maturity and objectives of the Company. The declining of an opportunity or the inability of the Investor to make a follow-on investment, or the lack of an opportunity to make such a follow-on investment, may result in substantial dilution of the Investor’s interest in the Company.

Issuer repurchases of securities. The Company may have authority to repurchase its securities from shareholders, which may serve to decrease any liquidity in the market for such securities, decrease the percentage interests held by other similarly situated investors to the Investor, and create pressure on the Investor to sell its securities to the Company concurrently.

A sale of the issuer or of assets of the issuer. As a minority owner of the Company, the Investor will have limited or no ability to influence a potential sale of the Company or a substantial portion of its assets. Thus, the Investor will rely upon the executive management of the Company and the Board of Directors of the Company to manage the Company so as to maximize value for shareholders. Accordingly, the success of the Investor’s investment in the Company will depend in large part upon the skill and expertise of the executive management of the Company and the Board of Directors of the Company. If the Board Of Directors of the Company authorizes a sale of all or a part of the Company, or a disposition of a substantial portion of the Company’s assets, there can be no guarantee that the value received by the Investor, together with the fair market estimate of the value remaining in the Company, will be equal to or exceed the value of the Investor’s initial investment in the Company.

Transactions with related parties. The Investor should be aware that there will be occasions when the Company may encounter potential conflicts of interest in its operations. On any issue involving conflicts of interest, the executive management and Board of Directors of the Company will be guided by their good faith judgement as to the Company’s best interests. The Company may engage in transactions with affiliates, subsidiaries or other related parties, which may be on terms which are not arm’s-length, but will be in all cases consistent with the duties of the management of the Company to its shareholders. By acquiring an interest in the Company, the Investor will be deemed to have acknowledged the existence of any such actual or potential conflicts of interest and to have waived any claim with respect to any liability arising from the existence of any such conflict of interest.

24. Describe the material terms of any indebtedness of the issuer:


None.

INSTRUCTION TO QUESTION 24: name the creditor, amount owed, interest rate, maturity date, and any other material terms.

25. What other exempt offerings has the issuer conducted within the past three years?

Offering Date Exemption Security Type Amount Sold Use of Proceeds
Regulation Crowdfunding Priced Round $119,075 General operations
12/2021 Regulation D, Rule 506(b) Preferred stock $3,418,083 General operations
2/2025 Regulation D, Rule 506(c) Preferred stock $1,317,990 General operations

26. Was or is the issuer or any entities controlled by or under common control with the issuer a party to any transaction since the beginning of the issuer's last fiscal year, or any currently proposed transaction, where the amount involved exceeds five percent of the aggregate amount of capital raised by the issuer in reliance on Section 4(a)(6) of the Securities Act during the preceding 12- month period, including the amount the issuer seeks to raise in the current offering, in which any of the following persons had or is to have a direct or indirect material interest:

  1. any director or officer of the issuer;
  2. any person who is, as of the most recent practicable date, the beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power;
  3. if the issuer was incorporated or organized within the past three years, any promoter of the issuer;
  4. or any immediate family member of any of the foregoing persons.
  • Yes
  • No

For each transaction specify the person, relationship to issuer, nature of interest in transaction, and amount of interest.


The Company has licensed certain intellectual property from Harvard in return for an ownership stake and ongoing royalties. The fees related to the licensing of this intellectual property were $23,950 in 2023 and $50,607 in 2022.

INSTRUCTIONS TO QUESTION 26: The term transaction includes, but is not limited to, any financial transaction, arrangement or relationship (including any indebtedness or guarantee of indebtedness) or any series of similar transactions, arrangements or relationships.

Beneficial ownership for purposes of paragraph (2) shall be determined as of a date that is no more than 120 days prior to the date of filing of this offering statement and using the same calculation described in Question 6 of this Question and Answer format.

The term "member of the family" includes any child, stepchild, grandchild, parent, stepparent, grandparent, spouse or spousal equivalent, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law of the person, and includes adoptive relationships. The term "spousal equivalent" means a cohabitant occupying a relationship generally equivalent to that of a spouse.

Compute the amount of a related party's interest in any transaction without regard to the amount of the profit or loss involved in the transaction. Where it is not practicable to state the approximate amount of the interest, disclose the approximate amount involved in the transaction.

FINANCIAL CONDITION OF THE ISSUER

27. Does the issuer have an operating history?

  • Yes
  • No

28. Describe the financial condition of the issuer, including, to the extent material, liquidity, capital resources and historical results of operations.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.

Overview

AI & robotics for the $210B rehab industry. The Company was launched out of Harvard University after years of research focused on helping individuals recovering from strokes. The Company’s focus has always been on combining the power of virtual rehab services that can be delivered at home with the advancements and innovations happening in the soft robotics and digital health industries


Milestones

Imago Rehab Inc. was incorporated in the State of Delaware in November 2020.

Since then, we have:

  • Backed by AARP’s AgeTech Collaborative & leading VCs Safar Partners & Cybernetix Ventures
  • 5X better recovery results than traditional, in-clinic rehab
  • Insurance coverage via 23 top insurers including Medicare, United Healthcare, Humana & Anthem
  • 3 patents awarded for the Imago Glove, with 1 additional patent pending
  • World-class team from Harvard University, MIT, Humana, CVS/Aetna, Anthem & Intel
  • CO-Principal Investigator with Harvard University and Mass General Hospital on a $5M NSF grant.
  • Forecasting $46.8M in revenue by 2028 (not guaranteed)

Historical Results of Operations

  • Revenues & Gross Margin. For the period ended December 31, 2024, the Company had revenues of $219,364 compared to the year ended December 31, 2023, when the Company had revenues of $107,135. Our gross margin was 20.35% in fiscal year 2024, and 35.55% in 2023.
  • Assets. As of December 31, 2024, the Company had total assets of $369,218, including $303,990 in cash. As of December 31, 2023, the Company had $1,158,291 in total assets, including $1,122,731 in cash.
  • Net Loss. The Company has had net losses of $1,886,145 and net losses of $1,350,533 for the fiscal years ended December 31, 2024 and December 31, 2023, respectively.
  • Liabilities. The Company's liabilities totaled $86,308 for the fiscal year ended December 31, 2024 and $98,887 for the fiscal year ended December 31, 2023.

Liquidity & Capital Resources

To-date, the company has been financed with $4,736,073 in equity.

After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 12 months before we need to raise further capital.

We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.

We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 9 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.

Runway & Short/Mid Term Expenses

Imago Rehab Inc. cash in hand is $141,384, as of March 28, 2025. Over the last three months, revenues have averaged $31,001/month, cost of goods sold has averaged $8,921/month, and operational expenses have averaged $91,551/month, for an average burn rate of $69,471 per month. Our intent is to be profitable in 20 months.

Since the date our financials cover, we began raising our Seed 3 round securing $1M to date from our lead VC and $317,990 from other angel investors. 

Our revenues are projected at $238,000 and expenses at $511,000 for the next 3 months. Revenue will include $63,000 in grants with the balance from services provided. There is an assumption that we sign one referral contract in that period to help drive patient volume to those numbers.

We are not currently profitable. We expect to need $3.5M to reach profitability, with the current raise of $2.5M lasting 12 months and the need to raise the minimum of $1M additional funds to reach profitability. However, we would expect to raise a Series A in the $7-9M range, starting in 9 months with the revenue traction that has been achieved. Allowing faster growth and greater revenue opportunities.

Besides funds raised through Wefunder, we are generating revenue through services provided and grant participation. Our lead VC has committed to up to $1M in funding matching investments from other parties dollar for dollar to that limit. We are working with our lead VC and other angel investors to secure additional funding in parallel with the Wefunder effort.

All projections in the above narrative are forward-looking and not guaranteed.

INSTRUCTIONS TO QUESTION 28: The discussion must cover each year for which financial statements are provided. For issuers with no prior operating history, the discussion should focus on financial milestones and operational, liquidity and other challenges. For issuers with an operating history, the discussion should focus on whether historical results and cash flows are representative of what investors should expect in the future. Take into account the proceeds of the offering and any other known or pending sources of capital. Discuss how the proceeds from the offering will affect liquidity, whether receiving these funds and any other additional funds is necessary to the viability of the business, and how quickly the issuer anticipates using its available cash. Describe the other available sources of capital to the business, such as lines of credit or required contributions by shareholders. References to the issuer in this Question 28 and these instructions refer to the issuer and its predecessors, if any.

FINANCIAL INFORMATION

29. Include financial statements covering the two most recently completed fiscal years or the period(s) since inception, if shorter:

Refer to Appendix C, Financial Statements

I, Gene Tacy, certify that:

  • (1) the financial statements of Imago Rehab Inc. included in this Form are true and complete in all material respects ; and
  • (2) the financial information of Imago Rehab Inc. included in this Form reflects accurately the information reported on the tax return for Imago Rehab Inc. filed for the most recently completed fiscal year.

Gene Tacy
President

STAKEHOLDER ELIGIBILITY

30. With respect to the issuer, any predecessor of the issuer, any affiliated issuer, any director, officer, general partner or managing member of the issuer, any beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, any promoter connected with the issuer in any capacity at the time of such sale, any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with such sale of securities, or any general partner, director, officer or managing member of any such solicitor, prior to May 16, 2016:

(1) Has any such person been convicted, within 10 years (or five years, in the case of issuers, their predecessors and affiliated issuers) before the filing of this offering statement, of any felony or misdemeanor:

  1. in connection with the purchase or sale of any security?
    Yes No
  2. involving the making of any false filing with the Commission?
    Yes No
  3. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities?
    Yes No

(2) Is any such person subject to any order, judgment or decree of any court of competent jurisdiction, entered within five years before the filing of the information required by Section 4A(b) of the Securities Act that, at the time of filing of this offering statement, restrains or enjoins such person from engaging or continuing to engage in any conduct or practice:

  1. in connection with the purchase or sale of any security?
    Yes No
  2. involving the making of any false filing with the Commission?
    Yes No
  3. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities?
    Yes No

(3) Is any such person subject to a final order of a state securities commission (or an agency or officer of a state performing like functions); a state authority that supervises or examines banks, savings associations or credit unions; a state insurance commission (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the U.S. Commodity Futures Trading Commission; or the National Credit Union Administration that:

  1. at the time of the filing of this offering statement bars the person from:
    1. association with an entity regulated by such commission, authority, agency or officer?
      Yes No
    2. engaging in the business of securities, insurance or banking?
      Yes No
    3. engaging in savings association or credit union activities?
      Yes No
  2. constitutes a final order based on a violation of any law or regulation that prohibits fraudulent, manipulative or deceptive conduct and for which the order was entered within the 10-year period ending on the date of the filing of this offering statement?
    Yes No

(4) Is any such person subject to an order of the Commission entered pursuant to Section 15(b) or 15B(c) of the Exchange Act or Section 203(e) or (f) of the Investment Advisers Act of 1940 that, at the time of the filing of this offering statement:

  1. suspends or revokes such person's registration as a broker, dealer, municipal securities dealer, investment adviser or funding portal?
    Yes No
  2. places limitations on the activities, functions or operations of such person?
    Yes No
  3. bars such person from being associated with any entity or from participating in the offering of any penny stock?
    Yes No

(5) Is any such person subject to any order of the Commission entered within five years before the filing of this offering statement that, at the time of the filing of this offering statement, orders the person to cease and desist from committing or causing a violation or future violation of:

  1. any scienter-based anti-fraud provision of the federal securities laws, including without limitation Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act, Section 15(c)(1) of the Exchange Act and Section 206(1) of the Investment Advisers Act of 1940 or any other rule or regulation thereunder?
    Yes No
  2. Section 5 of the Securities Act?
    Yes No

(6) Is any such person suspended or expelled from membership in, or suspended or barred from association with a member of, a registered national securities exchange or a registered national or affiliated securities association for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade?

Yes No

(7) Has any such person filed (as a registrant or issuer), or was any such person or was any such person named as an underwriter in, any registration statement or Regulation A offering statement filed with the Commission that, within five years before the filing of this offering statement, was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is any such person, at the time of such filing, the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued?

Yes No

(8) Is any such person subject to a United States Postal Service false representation order entered within five years before the filing of the information required by Section 4A(b) of the Securities Act, or is any such person, at the time of filing of this offering statement, subject to a temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property through the mail by means of false representations?

Yes No

If you would have answered "Yes" to any of these questions had the conviction, order, judgment, decree, suspension, expulsion or bar occurred or been issued after May 16, 2016, then you are NOT eligible to rely on this exemption under Section 4(a)(6) of the Securities Act.

INSTRUCTIONS TO QUESTION 30: Final order means a written directive or declaratory statement issued by a federal or state agency, described in Rule 503(a)(3) of Regulation Crowdfunding, under applicable statutory authority that provides for notice and an opportunity for hearing, which constitutes a final disposition or action by that federal or state agency.

No matters are required to be disclosed with respect to events relating to any affiliated issuer that occurred before the affiliation arose if the affiliated entity is not (i) in control of the issuer or (ii) under common control with the issuer by a third party that was in control of the affiliated entity at the time of such events.

OTHER MATERIAL INFORMATION

31. In addition to the information expressly required to be included in this Form, include:

  • (1) any other material information presented to investors; and
  • (2) such further material information, if any, as may be necessary to make the required statements, in the light of the circumstances under which they are made, not misleading.

The Lead Investor. As described above, each Investor that has entered into the Investor Agreement will grant a power of attorney to make voting decisions on behalf of that Investor to the Lead Investor (the “Proxy”). The Proxy is irrevocable unless and until a Successor Lead Investor takes the place of the Lead Investor, in which case, the Investor has a five (5) calendar day period to revoke the Proxy. Pursuant to the Proxy, the Lead Investor or his or her successor will make voting decisions and take any other actions in connection with the voting on Investors’ behalf.

The Lead Investor is an experienced investor that is chosen to act in the role of Lead Investor on behalf of Investors that have a Proxy in effect. The Lead Investor will be chosen by the Company and approved by Wefunder Inc. and the identity of the initial Lead Investor will be disclosed to Investors before Investors make a final investment decision to purchase the securities related to the Company.

The Lead Investor can quit at any time or can be removed by Wefunder Inc. for cause or pursuant to a vote of investors as detailed in the Lead Investor Agreement. In the event the Lead Investor quits or is removed, the Company will choose a Successor Lead Investor who must be approved by Wefunder Inc. The identity of the Successor Lead Investor will be disclosed to Investors, and those that have a Proxy in effect can choose to either leave such Proxy in place or revoke such Proxy during a 5-day period beginning with notice of the replacement of the Lead Investor.

The Lead Investor will not receive any compensation for his or her services to the SPV. The Lead Investor may receive compensation if, in the future, Wefunder Advisors LLC forms a fund (“Fund”) for accredited investors for the purpose of investing in a non-Regulation Crowdfunding offering of the Company. In such as circumstance, the Lead Investor may act as a portfolio manager for that Fund (and as a supervised person of Wefunder Advisors) and may be compensated through that role.

Although the Lead Investor may act in multiple roles with respect to the Company’s offerings and may potentially be compensated for some of its services, the Lead Investor’s goal is to maximize the value of the Company and therefore maximize the value of securities issued by or related to the Company. As a result, the Lead Investor’s interests should always be aligned with those of Investors. It is, however, possiblethat in some limited circumstances the Lead Investor’s interests could diverge from the interests of Investors, as discussed in section 8 above.

Investors that wish to purchase securities related to the Company through Wefunder Portal must agree to give the Proxy described above to the Lead Investor, provided that if the Lead Investor is replaced, the Investor will have a 5-day period during which he or she may revoke the Proxy. If the Proxy is not revoked during this 5-day period, it will remain in effect.

Tax Filings. In order to complete necessary tax filings, the SPV is required to include information about each investor who holds an interest in the SPV, including each investor’s taxpayer identification number (“TIN”) (e.g., social security number or employer identification number). To the extent they have not already done so, each investor will be required to provide their TIN within the earlier of (i) two (2) years of making their investment or (ii) twenty (20) days prior to the date of any distribution from the SPV. If an investor does not provide their TIN within this time, the SPV reserves the right to withhold from any proceeds otherwise payable to the Investor an amount necessary for the SPV to satisfy its tax withholding obligations as well as the SPV’s reasonable estimation of any penalties that may be charged by the IRS or other relevant authority as a result of the investor’s failure to provide their TIN. If applicable, the Company may also be required to pay Wefunder certain fees for the preparation of tax filings. Such fees and the Company’s obligation to deliver required tax documents are further specified in the related Tax Services Agreement (“TSA”).

Investors should carefully review the terms of the SPV Subscription Agreement for additional information about tax filings.

Potential Dissolution of the SPV. The Company has agreed that it will pay an administrative fee and / or certain tax fees to Wefunder, in addition to delivering required tax information in the manner prescribed by the TSA, where applicable. Failure to pay such fees or provide Wefunder with required tax information could result in the dissolution of the SPV (an “SPV Dissolution Event”). Subsequent to an SPV Dissolution Event, the securities held by the SPV would be distributed directly and proportionally to the individual investors. This could create administrative complexities, as investors would need to manage the securities themselves rather than having them held and administered by the SPV. Additionally, the unplanned distribution of securities may not align with investors' intended investment strategy or asset allocation.

Upon an SPV Dissolution Event, the Investor hereby consents to and agrees to accept direct assignment of the SPV's rights and obligations under any investment agreements between the SPV and the Company that is located in the Form C or C/A offering materials. The Investor acknowledges they will be bound by all terms and conditions of such agreements as if they were an original party thereto.

INSTRUCTIONS TO QUESTION 30: If information is presented to investors in a format, media or other means not able to be reflected in text or portable document format, the issuer should include:
(a) a description of the material content of such information;
(b) a description of the format in which such disclosure is presented; and
(c) in the case of disclosure in video, audio or other dynamic media or format, a transcript or description of such disclosure.

ONGOING REPORTING

32. The issuer will file a report electronically with the Securities & Exchange Commission annually and post the report on its website, no later than:

120 days after the end of each fiscal year covered by the report.
https://imagorehab.com//invest

The issuer must continue to comply with the ongoing reporting requirements until:

  1. the issuer is required to file reports under Exchange Act Sections 13(a) or 15(d);
  2. the issuer has filed at least one annual report and has fewer than 300 holders of record;
  3. the issuer has filed at least three annual reports and has total assets that do not exceed $10 million;
  4. the issuer or another party purchases or repurchases all of the securities issued pursuant to Section 4(a)(6), including any payment in full of debt securities or any complete redemption of redeemable securities; or the issuer liquidates or dissolves in accordance with state law.

APPENDICES