NOTICE | UNAUDITED. None of the figures, tables, screenshots, or projections in this memorandum have been formally audited. All data is management-reported by Mookie Digital LLC and presented for informational purposes only. Recipients should not rely on these numbers for investment decisions without independent verification.
Ecosystem Alignment Matrix
OPERATING BRANDmookie
LEAD SYNDICATESyndicate Venture Partners
SPV ADMINISTRATORAngelList
PORTFOLIO CO.HelloGov AI
Vehicle Selector
ViewingSPV 1
VehicleMookie-HE-1229 Fund II
Principal$295,000
Carry20% Carry
Combined Stake1.73%post-merger
02 · Executive Summary
HelloGov AI | April 2026 Operating Baseline
GROSS REVENUE (APR)
$8.63M
+1.98% MoM · 32,289 orders
AD SPEND (BASELINE)
$4.21M
ROAS 204.91% · elevated diligence
CONTRIBUTION MARGIN (APR)
$1.66M
+12.26% MoM · post-spend
ACTIVE VEHICLE
SPV 1
20% Carry
April 2026 reflects settled internal operating results (unaudited): $8.63M gross revenue across 32,289 orders (AOV $267.37), with a 21.43% refund rate and 204.91% blended ROAS. Ad spend of $4.21M is temporarily elevated, attributable to (i) strict corporate diligence requirements tied to the prospective merger workstream, (ii) advertising policy alignment projects across partner channels, and (iii) ongoing passport program lobbying. Net contribution margin closed at $1.66M (+12.26% MoM). Forward initiatives in Section 4 are explicitly unexecuted and conditional; no portion of their economics is reflected in the operating baseline above.
Position
Cost Basis
Valuation Cap
Net Stake
Paper Multiple
Implied Value
SPV 1 | Mookie-HE-1229 Fund II
$295,000
$30,500,000
0.97%
1.62×
$477,900
Combined Post-Merger Position
$725,000
|
1.73%
|
$1,363,700
03 · Internal Financial Timeline
Monthly Ledger | Sep 2024 → April 2026
Month
Gross Revenue
Marketing Contribution
EBITDA
Total Orders
Sep 2024
$182K
$24K
($61K)
712
Oct 2024
$311K
$48K
($22K)
1,218
Nov 2024
$498K
$72K
$11K
1,952
Dec 2024
$627K
$96K
$48K
2,458
Jan 2025
$812K
$118K
$92K
3,184
Feb 2025
$1.04M
$152K
$141K
4,078
Mar 2025
$1.31M
$188K
$192K
5,137
Apr 2025
$1.58M
$221K
$235K
6,196
May 2025
$1.92M
$268K
$291K
7,529
Jun 2025
$2.41M
$331K
$362K
9,451
Jul 2025
$2.88M
$402K
$418K
11,294
Aug 2025
$3.42M
$471K
$492K
13,412
Sep 2025
$4.11M
$558K
$571K
16,118
Oct 2025
$4.79M
$642K
$648K
18,784
Nov 2025
$5.62M
$748K
$719K
22,039
Dec 2025
$6.41M
$842K
$793K
25,137
Jan 2026
$6.84M
$3.21M
$1.18M
26,824
Feb 2026
$7.52M
$3.68M
$1.34M
29,490
Mar 2026
$8.21M
$3.95M
$1.48M
32,196
Apr 2026
$8.63M
$4.21M
$1.66M
32,289
04 · Strategic Initiatives & Transactions
M&A
50/50 Verbal Merger Agreement (Prospective)
Non-binding, prospective stock-for-stock combination with an international operator holding a ~$150M book-of-business. Framework remains verbal and unexecuted. If consummated, the path contemplated by the parties targets a $200M+ exit window over a 12–36 month horizon. No definitive agreement, valuation, or timing is committed.
RETAIL
CVS Retail Distribution Integration
Digitally-enabled retail consumer product positioned for on-the-ground and online CVS shoppers, designed to drive organic referral cashflow at the point of purchase, accelerated by paid media. Corporate and member perks programs are layered in as complementary distribution, extending reach beyond the core retail channel.
TRAVEL CHANNEL
Travel Distribution Networks
Strategic acquisition mix diversification: the prospective merger partner brings distribution channel lines across major global travel networks and air carriers | the likes of Expedia, Booking.com, Delta, and United. Channel economics are not yet reflected in the operating baseline.
05 · Data Room | Live Captures
Operational performance attestations sourced from HelloGov AI's admin console. All figures are management-reported and have not been formally audited.
FIGURE 5.1Apr 2026 · Financial Dashboard
FIGURE 5.2MTD May 2026 · Financial Dashboard
FIGURE 5.3Apr → May MTD · Enterprise Channel Volume
