Amendment No. 5 to Senior Credit Agreement and Security Agreement, dated as of February 7, 2020 among bocm3-DSTLD-Senior Debt, LLC, Stockholders, bocm3-DSTLD-Senior Debt 2, LLC and Digital Brands Group (formerly known as Denim.LA, Inc)

Contract Categories: Business Finance - Credit Agreements
EX-10.13 16 tm2038877d2_ex10-13.htm EXHIBIT 10.13

Exhibit 10.13




This Amendment No.  5 to Senior Credit Agreement  & Security Agreement (this “Amendment”) is made and entered into as of February 7, 2020, by and among Denim.LA, Inc., a Delaware corporation d/b/a DSTLD (the “Borrower”), the stockholders of the Borrower signatories below (“Stockholders”), bocm3-DSTLD-Senior Debt, LLC, a Utah limited liability company (“First Lender”) and bocm3-DSTLD-Senior Debt 2, LLC, a Utah limited liability company (“Second Lender” and together with the First Lender, the “Lenders”).


In consideration of the mutual covenants, conditions and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged; it is hereby agreed that:




When used herein, the following terms shall have the following specified meanings:


1.1Amendment” shall mean this Amendment No. 5 to Senior Credit Agreement & Security Agreement, as amended, restated, supplemented or otherwise modified from time to time.


1.2          “Credit Agreement” shall mean the Senior Credit Agreement dated as of March 10, 2017, by and among the Borrower, Stockholders and First Lender, as amended by that certain Amendment No. 1 to Senior Credit Agreement, dated as of July 1 , 2017 (“Amendment No. 1”), that certain Amendment No. 2 to Credit Agreement, Security Agreement and Management, dated as of March 30, 2018 (“Amendment No. 2”), and that certain Limited Waiver and Amendment No. 3 to Senior Credit Agreement, dated as of April 30, 2018 (“Amendment No. 3”), that certain Amendment No. 4 to Senior Credit Agreement, dated as of February 28, 2019 (“Amendment No. 4” and, together with Amendment No. 1, Amendment No. 2 and Amendment No. 3, collectively, the “Amendments”), and as further amended, modified, supplemented, extended or restated from time to time.


1.3          “Security Agreement” shall mean the Security Agreement dated as of March 10, 2017, by and among the Borrower and Lenders, as amended by the applicable Amendments and as further amended, modified, supplemented, extended or restated from time to time


1.4          Other Capitalized Terms. All capitalized terms used in this Amendment and not specifically defined herein shall have the definitions assigned to such terms in the Credit Agreement or the Security Agreement, as applicable.







2.1          Amendments. The Credit Agreement is hereby amended as follows:


(a)Section 1.1. The following replaces the existing definition of such term in Section 1.1 in its entirety or adds such definition to Section 1.1:


Bailey Collateral” means the “Collateral” (as such term is defined in the Norwest Pledge Agreement as of the date hereof).


Norwest Note” means that certain Secured Promissory Note, dated as of the date hereof, by Borrower in favor of Norwest Venture Partners XI, LP and Norwest Venture Partners XII, LP, in the initial principal amount of $4,500,000, as in existence on the date hereof.


Norwest Pledge Agreement” means that certain Pledge Agreement, dated as of the date hereof, by Borrower in favor of Norwest Venture Partners XI, LP and Norwest Venture Partners XII, LP, as Secured Parties, pledging the Bailey Collateral, as in existence on the date hereof.


Norwest Permitted Lien” means the Liens on the Bailey Collateral in connection with the Norwest Pledge Agreement.


(b)Section 1.1. The definition of “Permitted Liens” shall be amended by adding a new Section (f) which shall read as follows:


(e)            the Norwest Permitted Lien.


Note Maturity Date” means the earliest to occur of (i) the closing date of the IPO (as defined in the Norwest Note), (ii) the closing date of a Denim Sale (as defined in the Norwest Note) or (iii) September 30, 2020.


(c)Section 6.1. Section 6.1 shall be amended in its entire to read as follows:


Indebtedness. Borrower shall not, directly or indirectly, create, incur, assume, or otherwise become directly or indirectly liable with respect to, any Indebtedness other than (i) Indebtedness under this Agreement, (ii) Indebtedness incurred after the date hereof in the ordinary course of Borrower’s operations, consistent with past practice, in an aggregate amount less than $25,000 or (iii) Indebtedness incurred pursuant to the Norwest Note or the Norwest Pledge Agreement; provided, however, that neither the Norwest Note nor the Norwest Pledge Agreement may be amended without Lenders’ prior written consent.


2.2         Miscellaneous Amendments. The Credit Agreement, the Notes, and all other agreements and instruments executed and delivered heretofore or hereafter pursuant to the Credit Agreement are amended hereby so that any reference therein to the Credit Agreement shall be deemed to be a reference to such agreements and instruments as amended by or pursuant to this Amendment.







3.1          Amendment. The Security Agreement is hereby amended to add the following as Section 2(e):


Notwithstanding anything contrary herein or in any other Loan Document, the “Collateral” shall not include any part of the Bailey Collateral, and the Bailey Collateral shall be expressly excluded from the Collateral.


3.2         Filing Authorization. The Secured Party hereby authorizes the Borrower or any of its designees to file UCC-3 financing statement amendments to any UCC-1 financing statement on public record in favor of the Secured Party or any Lender in the form approved by Lenders.





The Borrower hereby represents and warrants to the Lenders that:


4.1          Credit Agreement. All of the representations and warranties made by Borrower in the Credit Agreement are true and correct on the date of this Amendment, except to the extent such representation or warranty relates to a specified earlier date, in which case it continues to be true and correct as of such date. No Event of Default under the Credit Agreement has occurred and is continuing as of the date of this Amendment.


4.2          Capitalization. As of the date hereof, all outstanding Capital Stock of Borrower is held as set forth on Schedule 4.2 All outstanding shares of Capital Stock were duly authorized and validly issued, and are fully paid and nonassessable. As of the Closing Date, except as set forth on Schedule4.2, there are no outstanding securities, options, warrants, rights, or other agreements of any nature that require Borrower to issue any additional Capital Stock.


4.3          Authorization; Enforceability. The making, execution and delivery of this Amendment and performance of and compliance with the terms of this Amendment and the terms of the Credit Agreement, as amended hereby, has been duly authorized by all necessary company action by Borrower. This Amendment is the valid and binding obligation of Borrower, enforceable against Borrower in accordance with its terms subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.


4.4          Absence of Conflicting Obligations. The making, execution and delivery of this Amendment and performance of and compliance with the terms of this Amendment and the terms of the Credit Agreement, as amended hereby, do not violate any presently existing provision of law or the articles or certificate of formation, certificate of organization or operating agreement of Borrower or any agreement to which Borrower is a party or by which it or any of its assets is bound.





4.5Loan Balance. As of the date hereof, the balance of the Loans is $4,667,543.86.




5.1           Continuance of Credit Agreement. Except as specifically amended by this Amendment, the Credit Agreement shall remain in full force and effect.


5.2           Survival. All agreements, representations and warranties made in this Amendment or in any documents delivered pursuant to this Amendment shall survive the execution of this Amendment and the delivery of any such document.


5.3           Governing Law. This Amendment shall be governed by, and construed and enforced in accordance with, the laws of the State of Utah without regarding to principles of conflicts of laws.. The parties hereto acknowledge that this Amendment was negotiated with the assistance of counsel and, accordingly, such laws shall be applied without reference to any rules of construction regarding the draftsman hereof.


5.4           Counterparts; Headings. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument. Article and section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect.


5.5           Severability. In case any provision in or obligation under this Amendment shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.


5.6           Course of Dealing; Consent. Borrower acknowledges that neither previous waivers, extensions, and amendments granted to Borrower by Lender, nor the amendments and waivers granted herein, create any course of dealing or expectation with respect to any further waivers, extensions, or amendments, and Borrower further acknowledges that Lender has no obligation whatsoever to grant any additional waivers, extensions, amendments, or forbearance.


5.7           No Defenses. Borrower acknowledges it has no defenses, rights of setoff, or rights of recoupment to the enforceability or payment of any of its obligations under the Credit Agreement as amended hereby.


5.8           Ex penses and Attorneys ’ Fees . Borrower shall pay (a) all fees and expenses (including attorney’s fees) incurred by Lender in connection with the preparation, execution, and delivery of this Amendment, and all prior legal fees and expenses (including attorney’s fees) incurred by each Lender in connection with the Credit Agreement and (b) all fees and expenses (including attorney’s fees) incurred by Borrower in connection with the preparation, execution, and delivery of this Amendment on the date hereof.





5.9           Further Assurances. Borrower shall promptly execute and deliver or cause to be executed and delivered to Lenders within a reasonable time following Lender’s request, and at the expense of Borrower, such other documents or instruments as Lender may reasonably require to in order to give effect to the intent and purposes of this Amendment.


[Signature page follows]





IN WITNESS WHEREOF, the parties have executed this Amendment No. 5 to Senior Credit Agreement & Security Agreement as of the date first written above.


  By: /s/ Gregory David Seare
  Name: Gregory David Seare
  Title: Founder and Managing Director.
  By: /s/ Gregory David Seare
  Name: Gregory David Seare
  Title: Founder and Managing Director.
  Mark Lynn
  /s/ Mark Lynn 
  Corey Epstein
  /s/ Corey Epstein 


[Signature page to Amendment No. 5 to Credit Agreement & Security Agreement]





Schedule 4.2




Security Type  Shares 
Common   10,377,615 
Preferred   40,911,690 
Options   20,044,624 
Warants   9,684,197 
Total   81,018,126 


ID   Shareholder  Date   Shares 
CS-1   Corey Epstein   1/30/2013    6,050,000 
CS-2   Ryan Jaleh   1/30/2013    245,060 
CS-3   Marcus Martinez   1/30/2013    241,289 
CS-4   Anthony Pu   1/30/2013    88,000 
CS-5   Amplify.LA Capital II, LLC   1/31/2013    83,124 
CS-6   Mark Lynn   10/14/2013    2,688,889 
CS-24   Amplify.LA Capital II, LLC   09/12/2016    51,587 
CS-25   Baroda Ventures LLC   09/12/2016    36,111 
CS-26   Plus Capital, L.P.   09/12/2016    41,269 
CS-27   3-4 Surf, GP   09/12/2016    4,578 
CS-28   TenOneTen Ventures, LLC   09/12/2016    11,802 
CS-29   Randy Nichols   09/12/2016    23,302 
CS-30   Dan Brown   09/12/2016    2,927 
CS-31   William Essin   09/12/2016    2,343 
CS-32   Viking Power   09/12/2016    10,479 
CS-33   Scott C. Steigerwald   09/12/2016    18,313 
CS-34   Patrick M. Falle   09/12/2016    10,983 
CS-35   Siemer Ventures II LP   09/12/2016    55,668 
CS-36   North Rim Investments, LLC (Joh   09/12/2016    25,793 
CS-37   Unicorn Ventures, LLC   09/12/2016    10,317 
CS-38   Yobin Capital, Inc.   09/12/2016    25,793 
CS-39   Andrea Berkholtz   09/12/2016    10,317 
CS-40   Dan Zigmond   09/12/2016    10,317 
CS-41   Sean Brecker   09/12/2016    10,317 
CS-42   Everlast Investments, LLC   09/12/2016    257,932 
CS-43   SI Selections Fund I, L.P.   09/12/2016    206,346 
CS-44   TRIPLE 8 HOLDINGS, LLC   09/12/2016    154,759 


[Signature page to Amendment No. 5 to Credit Agreement & Security Agreement]





ID   Shareholder  Round  Date   Shares 
PS-125   The Academy, LLC  Series Seed Preferred   10/06/2014    117,284 
PS-134   Amplify.LA Capital II, LLC  Series A   09/12/2016    104,166 
PS-135   Baroda Ventures LLC  Series A   09/12/2016    72,916 
PS-136   Plus Capital, L.P.  Series A   09/12/2016    83,333 
PS-137   3-4 Surf, GP  Series A   09/12/2016    9,244 
PS-139   Randy Nichols  Series A   09/12/2016    47,054 
PS-140   Viking Power  Series A   09/12/2016    21,158 
PS-141   Dan Brown  Series A   09/12/2016    5,911 
PS-142   Scott C. Steigerwald  Series A   09/12/2016    36,978 
PS-143   William Essin  Series A   09/12/2016    4,731 
PS-144   Patrick M. Falle  Series A   09/12/2016    22,179 
PS-145   Siemer Ventures II LP  Series A   09/12/2016    112,409 
PS-146   North Rim Investments, LLC (John Victor  Series A   09/12/2016    52,083 
PS-147   Unicorn Ventures, LLC  Series A   09/12/2016    20,833 
PS-148   Yobin Capital, Inc.  Series A   09/12/2016    52,083 
PS-149   Andrea Berkholtz  Series A   09/12/2016    20,833 
PS-150   Dan Zigmond  Series A   09/12/2016    20,833 
PS-151   Sean Brecker  Series A   09/12/2016    20,833 
PS-152   Everlast Investments, LLC  Series A   09/12/2016    520,833 
PS-153   SI Selections Fund I, L.P.  Series A   09/12/2016    416,666 
PS-154   TRIPLE 8 HOLDINGS, LLC  Series A   09/12/2016    312,500 
PS-155   Seedinvest  Series A   09/12/2016    1,217,548 
PS-156   Mark Epstein  Series A   03/31/2017    98,388 
PS-157   Seth Elken  Series A   01/27/2017    52,083 
PS-158   Seedinvest  Series A   10/10/2016    403,991 
PS-159   Seedinvest  Series A   11/09/2016    284,476 
PS-160   Seedinvest  Series A   12/12/2016    164,724 
PS-161   Seedinvest  Series A   01/30/2017    144,244 
PS-162   Seedinvest  Series A   02/14/2017    107,908 
PS-163   Seedinvest  Series A   01/09/2017    179,836 
PS-164   Seedinvest  Series A   02/27/2017    244,714 
PS-165   Seedinvest  Series A   03/13/2017    519,914 
PS-166   Seedinvest  Series A   05/12/2017    147,165 
PS-167   Seedinvest  Series A   06/02/2017    55,302 
PS-168   Seedinvest  Series A   06/08/2017    35,030 
PS-169   TenOneTen Ventures, LLC  Series A   09/12/2016    23,829 
PS-170   Amplify.LA Capital II, LLC  Series A   06/09/2017    3,555 
PS-171   Baroda Ventures LLC  Series A   06/09/2017    2,372 
PS-172   Yobin Capital, Inc.  Series A   06/09/2017    1,003 
PS-173   Seedinvest  Series A   06/11/2017    5,207 
PS-174   Seedinvest  Series A-2   09/20/2017    691,440 
PS-175   Seedinvest  Series A-2   10/03/2017    444,600 
PS-176   Seedinvest  Series A-2   10/17/2017    342,850 
PS-177   Seedinvest  Series A-2   10/31/2017    173,999 
PS-178   Seedinvest  Series A-2   11/14/2017    270,646 
PS-179   Seedinvest  Series A-2   11/28/2017    330,000 
PS-180   Seedinvest  Series A-2   12/11/2017    148,900 
PS-181   Seedinvest  Series A-2   12/21/2017    182,331 
PS-182   Seedinvest  Series A-2   01/08/2018    203,802 
PS-183   Seedinvest  Series A-2   01/22/2018    161,000 
PS-184   Seedinvest  Series A-2   02/02/2018    224,000 
PS-185   Seedinvest  Series A-2   02/20/2018    103,250 
PS-186   Seedinvest  Series A-2   03/02/2018    214,950 
PS-187   Seedinvest  Series A-2   03/16/2018    350,200 
PS-188   Seedinvest  Series A-2   03/30/2018    851,316 
PS-189   Seedinvest  Series A-2   04/13/2018    1,172,158 
PS-190   Seedinvest  Series A-2   05/04/2018    67,300 
PS-191   StartEngine  Series CF   08/09/2018    124,204 
PS-192   Patrick M. Falle  Series A-3   08/24/2018    94,340 
PS-193   CherryTree VC  Series A-3   10/18/2018    188,680 
PS-194   Seedinvest  Series A-3   10/10/2018    607,367 
PS-195   Seedinvest  Series A-3   10/26/2018    1,077,054 
PS-196   Seedinvest  Series A-3   11/08/2018    315,910 
PS-197   Oswaldo Nascimiento  Series A-3   11/08/2018    300,000 





PS-198   Seedinvest  Series A-3   11/21/2018    83,973 
PS-199   Seedinvest  Series A-3   12/06/2018    157,960 
PS-200   Seedinvest  Series A-3   12/27/2018    449,336 
PS-201   Seedinvest  Series A-3   12/30/2018    61,667 
PS-202   Scott C. Steigerwald  Series A-3   12/26/2018    111,321 
PS-203   Seedinvest  Series A-3   01/10/2019    152,795 
PS-204   Seedinvest  Series A-3   01/24/2019    804,814 
PS-205   Seedinvest  Series A-3   02/05/2019    1,105,360 
PS-206   Seedinvest  Series A-3   02/26/2019    112,365 
PS-207   Crowdcube  Nominees  Series A-3   02/26/2019    341,056 
PS-S40   Zillion, LLC  Series Seed Preferred   10/06/2014    1,838,396 
PS-S41   Plus Capital, L.P.  Series Seed Preferred   10/06/2014    367,679 
PS-S42   The Kevin Yorn Trust  Series Seed Preferred   10/06/2014    110,303 
PS-S43   3-4 Surf, GP  Series Seed Preferred   10/06/2014    183,839 
PS-S44   Baroda Ventures LLC  Series Seed Preferred   10/06/2014    183,839 
PS-S45   Amplify.LA Capital II, LLC  Series Seed Preferred   10/06/2014    240,400 
PS-S46   QueensBridge Fund I, L.P.  Series Seed Preferred   10/06/2014    91,919 
PS-S47   Viking Power  Series Seed Preferred   10/06/2014    183,839 
PS-S48   Siemer Ventures II LP  Series Seed Preferred   10/06/2014    183,839 
PS-S49   Clark W. Landry  Series Seed Preferred   10/06/2014    91,919 
PS-S50   Structure Fund LP  Series Seed Preferred   10/06/2014    91,919 
PS-S51   Scott C. Steigerwald  Series Seed Preferred   10/06/2014    735,358 
PS-S52   Patrick M. Falle  Series Seed Preferred   10/06/2014    441,215 
PS-S53   William Essin  Series Seed Preferred   10/06/2014    91,919 
PS-S54   Brad Zions  Series Seed Preferred   10/06/2014    91,919 
PS-S55   Equity Trust Company Custodian FBO W  Series Seed Preferred   10/06/2014    91,919 
PS-S56   Arena Ventures Fund, LP.  Series Seed Preferred   05/21/2015    773,335 
PS-S-1   Corey Epstein  Series Seed Preferred   10/06/2014    617,122 
PS-S-2   Ryan Jaleh  Series Seed Preferred   10/06/2014    101,847 
PS-S-3   Amplify.LA Capital II, LLC  Series Seed Preferred   10/06/2014    1,222,364 
PS-S-4   Paige Craig  Series Seed Preferred   10/06/2014    0 
PS-S-5   Siemer Ventures II LP  Series Seed Preferred   10/06/2014    1,004,400 
PS-S-6   Baroda Ventures LLC  Series Seed Preferred   10/06/2014    773,335 
PS-S-7   Plus Capital, L.P.  Series Seed Preferred   10/06/2014    773,139 
PS-S-8   Siemer Ventures II LP  Series Seed Preferred   10/06/2014    338,019 
PS-S-9   Baroda Ventures LLC  Series Seed Preferred   10/06/2014    241,667 
PS-S-10   Dennis Phelps  Series Seed Preferred   10/06/2014    241,381 
PS-S-11   CAA Ventures I, L.P.  Series Seed Preferred   10/06/2014    480,470 
PS-S-12   SLP Ventures II, LLC  Series Seed Preferred   10/06/2014    238,885 
PS-S-13   Crunch Fund I, L.P.  Series Seed Preferred   10/06/2014    713,462 
PS-S-14   Welle Family Trust  Series Seed Preferred   10/06/2014    237,022 
PS-S-15   SC Worldwide Enterprises LLC  Series Seed Preferred   10/06/2014    237,022 
PS-S-16   TenOneTen Ventures, LLC  Series Seed Preferred   10/06/2014    473,881 
PS-S-17   Viking Power  Series Seed Preferred   10/06/2014    236,920 
PS-S-18   Dennis Phelps  Series Seed Preferred   10/06/2014    236,920 
PS-S-19   Amplify.LA Capital II, LLC  Series Seed Preferred   10/06/2014    236,900 
PS-S-20   Amplify.LA Capital II, LLC  Series Seed Preferred   10/06/2014    118,450 
PS-S-21   Crunch Fund I, L.P.  Series Seed Preferred   10/06/2014    236,879 
PS-S-22   Michael Lastoria  Series Seed Preferred   10/06/2014    236,859 
PS-S-23   Mark Epstein  Series Seed Preferred   10/06/2014    236,797 
PS-S-24   Lanoha Ventures LLC  Series Seed Preferred   10/06/2014    236,756 
PS-S-25   Siemer Ventures II LP  Series Seed Preferred   10/06/2014    709,103 
PS-S-26   Demarest Films, LLC  Series Seed Preferred   10/06/2014    235,713 
PS-S-27   Tom McInerney  Series Seed Preferred   10/06/2014    235,365 
PS-S-28   Glenn E. Montgomery  Series Seed Preferred   10/06/2014    117,611 
PS-S-29   Dan Brown  Series Seed Preferred   10/06/2014    117,550 
PS-S-30   Mark Epstein  Series Seed Preferred   10/06/2014    117,324 
PS-S-31   The Bernhard J. and Diane H. Welle Fam  Series Seed Preferred   10/06/2014    234,588 
PS-S-33   Dave Berlin  Series Seed Preferred   10/06/2014    234,362 
PS-S-34   Randy Nichols  Series Seed Preferred   10/06/2014    935,731 
PS-S-35   Plus Capital, L.P.  Series Seed Preferred   10/06/2014    185,771 
PS-S-36   The Mandel Company  Series Seed Preferred   10/06/2014    185,722 
PS-S-37   Zillion, LLC  Series Seed Preferred   10/06/2014    539,088 
PS-S-38   Zillion, LLC  Series Seed Preferred   10/06/2014    1,113,940 
PS-S-39   Zillion, LLC  Series Seed Preferred   10/06/2014    371,313 
PS-S57   StartEngine Broker Dealer  Series A-3   1/30/2020    1,158,931 
PS-S58   StartEngine Crowd  Series A-3   1/30/2020    1,368,432 
    Total           40,911,690 





ID   Shareholder  Shares   Strike Price   Grant Date
OG-2   Steve Shaw   100,000   $0.15   6/17/2014
OG-3   Dave Kuehl   -   $0.15   6/17/2014
OG-4   Anton Jusufi   -   $0.15   6/17/2014
OG-5   Jordan Posell   -   $0.15   6/17/2014
OG-6   Nika Battle   -   $0.15   6/17/2014
OG-7   Mark Lynn   1,344,444   $0.15   6/17/2014
OG-8   Mark Lynn   2,016,667   $0.15   6/17/2014
OG-9   Isadora Hu   25,000   $0.15   6/17/2014
OG-10   Steffen Hoffman   -   $0.15   8/1/2013
OG-11   John Tomich   276,541   $0.15   6/17/2014
OG-12   William Brian Smith   -   $0.15   6/17/2014
OG-13   Anh Vu   -   $0.15   6/17/2014
OG-14   Carlos Moscat   -   $0.15   6/17/2014
OG-15   Thomas Ocampo   -   $0.15   6/17/2014
OG-16   Eleanor Victorioso   -   $0.15   6/17/2014
OG-17   Trevor Pettennude   350,000   $0.15   6/17/2014
OG-18   Brent Mitchell   -   $0.15   6/17/2014
OG-19   Hannah Laverty   25,000   $0.15   6/17/2014
OG-20   Damien Sutevski   -   $0.10   8/7/2015
OG-21   Eleanor Victorioso   -   $0.10   8/7/2015
OG-22   Corey Epstein   1,800,000   $0.10   8/7/2015
OG-23   Mark Lynn   1,800,000   $0.10   8/7/2015
OG-24   John Tomich   520,000   $0.10   8/7/2015
OG-25   Trevor Pettennude   520,000   $0.10   8/7/2015
OG-26   Conrad Steenberg   -   $0.10   4/1/2015
OG-27   Kevin Morris   -   $0.10   8/7/2015
OG-28   Brad Zions   15,000   $0.10   8/7/2015
OG-29   Sam Shaffer   25,000   $0.10   8/7/2015
OG-30   Kevin Morris   -   $0.16   1/1/2016
OG-31   Paul Roughley   500,000   $0.16   7/1/2016
OG-32   Laura Sokol   25,000   $0.16   2/27/2017
OG-33   Shervin Lalezari   -   $0.16   7/5/2016
OG-34   Laura Gramlich   -   $0.16   1/28/2016
OG-35   Tiffany Chen   -   $0.16   1/1/2017
OG-36   Michelle Finney   25,000   $0.16   1/1/2017
OG-37   Micheal Uytengsu   250,000   $0.16   2/2/2016
OG-38   Zack Wilson   25,000   $0.16   2/2/2016
OG-39   Brock Pierce   15,000   $0.16   12/1/2016
OG-40   Nick Lehman ( sale)   300,000   $0.16   1/1/2016
OG-41   Jordan Isenberg   -   $0.16   2/2/2016
OG-42   Seth Elken   25,000   $0.16   2/2/2016
OG-43   Mark Epstein   35,000   $0.16   2/2/2016
OG-44   Sarah Zapp   25,000   $0.16   2/2/2016
OG-45   Hil Davis   1   $0.21   3/1/2018
OG-46   Kevin Morris   -   $0.21   5/23/2018
OG-47   Geoff McFarlane   100,000   $0.21   5/23/2018
OG-48   Trevor Pettennude   50,000   $0.21   5/23/2018
OG-49   John Tomich   -   $0.21   5/23/2018
OG-50   Mark Lynn   50,000   $0.21   5/23/2018
OG-51   Corey Epstein   50,000   $0.21   5/23/2018
OG-52   Jennifer Stein   -   $0.21   5/23/2018
OG-53   Jennifer Stein   -   $0.21   8/8/2018
OG-54   Aaron Lifton   -   $0.21   8/8/2018
OG-55   Yilin Wang   5,000   $0.21   8/8/2018
OG-56   Caitlin Zenisek   5,000   $0.21   8/8/2018
OG-57   Amit Shah   -   $0.21   8/8/2018
OG-58   Cinthya Alvarado   5,000   $0.21   8/8/2018
OG-59   Patrick M. Falle   37,736   $0.21   8/24/2018
OG-60   CherryTree VC   75,472   $0.21   10/18/2018
OG-61   Oswaldo Nascimiento   120,000   $0.21   10/8/2018
OG-62   Trevor Pettennude   125,000   $0.21   8/1/2019
OG-63   Laura Dowling   1,000,000   $0.21   2/18/2019
OG-64   Reid Yoeman   750,000   $0.21   10/1/2019
OG-65   John Wagner   200,000   $0.21   11/4/2019
OG-66   Jon Patrick   200,000   $0.21   12/1/2019
OG-67   Megan McElwee   1,333,333   $0.21   3/1/2018
OG-68   Marc Croggon   1,333,333   $0.21   3/1/2018
OG-69   Trevor Pettennude   125,000   $0.21   10/1/2019
OG-70   Holly Davis   1,333,334   $0.21   3/1/2018
    Not Assigned   3,103,763         
    Total   20,044,624         





ID   Shareholder  Type  Grant Date  Shares 
2014-1   G Squared Media Holdings, LLC  Common  6/17/2014   10,000 
WG-2   TRIPLE 8 HOLDINGS, LLC  Common  6/6/2016   1,800,000 
WG-3   SI Securities, LLC  Series A  8/3/2016   157,953 
WG-4   bocm3-DSTLD-Senior Debt, LLC  Common  4/7/2017   1,139,398 
WG-5   bocm3-DSTLD-Senior Debt, LLC  Common  1/2/2018   610,578 
WG-6   bocm3-DSTLD-Senior Debt, LLC  Common  4/9/2018   637,769 
WG-7   SI Securities, LLC  Series A-2  7/7/2017   296,637 
WG-8   SI Securities, LLC  Series A  1/28/2016   66,000 
WG-9   North Capital Private Securities Corporation  Series A  1/28/2016   7,333 
WG-10   North Capital Private Securities Corporation  Series A  8/3/2016   17,550 
WG-11   bocm4-DSTLD-Senior Debt, LLC  Common  3/12/2019   1,082,973 
    Total         5,826,191 
WG-12   bocm4-DSTLD-Senior Debt, LLC  Common  2/7/2020   1,929,003 
WG-13   bocm4-DSTLD-Senior Debt, LLC  Common  2/7/2020   1,929,003 
    Total         9,684,197 


Denim intends to issue stock options to each of its Chief Executive Office and Chief Operating Officer – the number of shares subject to such stock options, and the date of issuance and exercise price of such options has not yet been determined but it is expected that such options could equal up to 30% of the outstanding shares of Denim on a fully converted, fully diluted basis measured as of the effective date of its proposed IPO.