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

One platform to run startup programs and support founders.

Milestones

Startup Science, Inc. was incorporated in the State of Delaware in January 2021.

Since then, we have:

• Fixing the $27B annual problem of preventable startup failures.
• Led by CEO who built and sold 12 companies and four private equity awards from $25M to $1B deals.
• 88,000 users across four continents with multiple streams of income.
• 200+ accelerator, university, and government partners onboarded.
• Chosen by the Fulbright Foundation as their entrepreneurship platform.
• $7T global startup economy. $150B spent annually on founder tools and services.
• $5.75M raised from management and strategic investors to build the core platform.

Historical Results of Operations

• Revenues & Gross Margin. For the period ended December 31, 2025, the Company had revenues of $88,381 compared to the year ended December 31, 2024, when the Company had revenues of $35,899. Our gross margin was 92.81% in fiscal year 2025, and 36.22% in 2024.
• Assets. As of December 31, 2025, the Company had total assets of $66,544, including $18,219 in cash. As of December 31, 2024, the Company had $61,913 in total assets, including $55,879 in cash.
• Net Loss. The Company has had net losses of $1,135,059 and net losses of $1,327,332 for the fiscal years ended December 31, 2025 and December 31, 2024, respectively.
• Liabilities. The Company's liabilities totaled $3,318,768 for the fiscal year ended December 31, 2025 and $5,599,014 for the fiscal year ended December 31, 2024.

Related Party Transaction

Refer to Question 26 of this Form C for disclosure of all related party transactions.

Liquidity & Capital Resources

To-date, the company has been financed with $290,000 in equity, $4,594,001 in convertibles, and $595,000 in SAFEs.

After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 2 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 2 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

Startup Science, Inc. cash in hand is $227,738, as of April 2026. Over the last three months, revenues have averaged $11,000/month, cost of goods sold has averaged $2,500/month, and operational expenses have averaged $72,500/month, for an average burn rate of $64,000 per month. Our intent is to be profitable in 12 months.

We are expected to triple revenues in 2025 compared to 2024. We've just recently started fully selling our product to customers. We are also in the midst of launching multiple new revenue streams like sponsorships, book revenue, and direct founder revenue via marketplace redemptions. The years in which our finances are reviewed primarily reflect the period when we were building our product. 

Expenses should stay relatively flat aside from potentially higher server costs as our user base grows. We just hired a sales executive who has a pipeline that will potentially triple our revenue in the next three months, via just one of our revenue channels. 

We are not profitable. We are approximately 20% to profitability. Our current projections have us reaching profitability by Q2 2026.

We have a base of 10 loyal high net worth investors who have invested over $5MM so far. They are dedicated to seeing this through to exit.  Some will also participate in this offering.

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