Disclosures

The headline versus 2020: the portfolio has shrunk to almost nothing. Most positions are closed or dormant. The short list of what is actually held:

Active positions

• Are.navia Republic
• Tender Loving Empirevia Wefunder
• Substackvia Wefunder
• Mercuryvia Wefunder
• Wefundervia Wefunder
• Local businesses, minorvia Honeycomb

Shareholder fund positions

Investments made with KmikeyM shareholder funds, approved by shareholder vote. Separate from Mike's personal holdings above.

• Dead Internet Theory$5,000, funded May 2026
  Revenue share until a 2X cap ($10,000). No equity and no follow-on obligation. Approved by shareholder vote 180, May 2026. Full loss is possible and was acknowledged in the vote.

Dormant or trace only

• •MetaMask, OpenSea, HumanIPO: inactive, possible trace amounts.
• •Robinhood: zero balance.
• •Cash App: zero balance, used for personal transfers and taxes. Operational, not an investment position.

No real estate owned. No non-platform holdings of note.

Nomadic, working independently, owning no property. At the end of the quarter he was in Prishtina for a conference. The route from there runs to Los Angeles for consulting work, then back to Oakland. More travel is likely.

Current income comes from savings accumulated and from development projects.

Projects competing for Mike's time:

• KmikeyM
  The market in Mike itself. Ongoing.
• Blippo+
  Manager of LLC.
• Shareholder poker
  Recurring games with shareholders. New to this list.
• Quarterly Systems
  MIKE Economic Data and the quarterly reports on this site. New to this list.
• Agentic consulting
  Consulting on AI agent systems. New.
• SFK 2026 talk
  Prishtina. In preparation at the end of the quarter and delivered in early October. It took a large share of the quarter's time.
• GumDemo.com
  Pending.

A point-in-time read of the cap table. Aggregate only. No individual shareholders are named. Figures pulled October 4, 2026.

• •KmikeyM is authorized at 100,000 shares. The reserve Mike retains is dispersed to shareholders over time.
• •This quarter 418 shares moved from the reserve into the open market. 415 are the grant approved by shareholder vote 183 in June. They were credited on October 1, after the period end, for technical reasons only, so they are counted in this edition, the quarter they were due. The other 3 were small grants to shareholders.
• •Concentration of the public float: top 3 holders about 25%, top 15 about 51%, with the remaining roughly half spread across the long tail.

Debt

None. Mike is debt free.

This page is refreshed quarterly. Holdings are self-reported by Mike as of the reporting-period end date above. It is a transparency disclosure, not investment advice and not a complete financial statement. Aggregate cap-table figures come from the shareholder registry, pulled on the date stated in section 4.