Square Cow Moovers

Data Based On: 5 company-owned locations that were in operation throughout the entire 2024 Reporting Period.

* All financial performance data is based on 5 company-owned locations, as no franchised locations met the criteria for inclusion in Item 19. 'Average Gross Revenue' is taken from the 'MEAN' Net Revenue in Table 2. 'Median Gross Revenue' is taken from the 'MEDIAN' Net Revenue in Table 2. 'Revenue Top Quartile' and 'Revenue Bottom Quartile' are set to the 'HIGH' ($3,095,562) and 'LOW' ($1,149,146) Net Revenue values respectively from Table 2, as only 5 units are in the sample and no explicit quartile averages are provided. 'Average Net Income' is taken from the 'MEAN' Net Income in the continuation of Table 2 on page 5. 'Best Guess Profit Low' is set to the 'Mean Net Income', assuming a franchisee might still incur manager salary expense. 'Best Guess Profit High' is set to the 'Mean Net Income If No Manager Salary was Paid*' ($473,088) from Table 2 on page 5, which represents the income if a franchisee acts as their own manager and thereby saves on manager salaries.