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

Jon Jed Films is an up-and-comer horror production house and architect behind the project. They've partnered with Adventus, a well-oiled film company in the Pacific Northwest. To date, Adventus has internally produced three feature films in the horror and thriller genres in various stages of production.

Creating more consistent content (at least once a year) for worldwide digital distribution.

Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.

Milestones

The Devil's Circle LLC was incorporated in the State of North Carolina in March 2019.  

JonJed agrees, upon the minimum financing of The Devil’s Circle LLC, to employ Adventus Films LLC in the production as Producer(s) and Director Photography. The duration of employment will depend entirely on the total amount raised for the entire production. If funding fails to meet the minimum amount, no further commitment is required between the two parties.  A full copy of the agreement can be found attached to the Form C.

Since then, we have:

• Produced by an award-winning company with lots of horror film experience
• Adventus Films, a partner of JonJed Films, previously crowdfunded for the recently filmed "Martingale" (currently editing)
• Connections to top-level, Hollywood talent
• Our forth feature film

Historical Results of Operations

Our company was organized in March 2019 and has limited operations upon which prospective investors may base an evaluation of its performance.

• Revenues & Gross Margin. For the period ended April 15, 2019, the Company had revenues of $0.
• Assets. As of April 15, 2019, the Company had total assets of $0, including $0 in cash.
• Net Loss. The Company has had net losses of $2,669 for 2019.
• Liabilities. The Company's liabilities totaled $0 for 2019.

Liquidity & Capital Resources

After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 3 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 12 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

The Devil's Circle LLC cash in hand is $0, as of May 2022. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $0/month, for an average burn rate of $0 per month. Our intent is to be profitable in 24 months.

Our operations cover only a 1 year window in the future when more than 90% of the funds will be spent.

About 25% of our expenses will occur in 3-6 months after we're funded for Pre-Production costs and the rest will be needed during the production of the project. There won't be any revenue for at least 12 months, but likely closer to 24 months. We predict needing $50,000 to complete a total production and needing $105,000 to complete production and post-production. If we only raise $50,000, we will still produce the movie, but will also launch a subsequent fundraising round to cover post-production costs.

The company currently does not have any other sources of capital upon which to rely, but may pursue other more conventional fundraising methods if needed.