About Sharing Services Global

Sharing Services Global Corporation, through its subsidiaries, markets and distributes its health and wellness and other products primarily in the United States (U.S.) and Canada using a direct selling business model. In addition, the company distributes its products from the U.S. to customers located in Australia, New Zealand and other countries. Its U.S. subsidiaries market its products and services through an independent sales force, using their proprietary websites, including www.elevacity.com and www.thehappyco.com. In June 2021, the company, through a subsidiary, commenced operations in the Republic of Korea (South Korea). In February 2021, the company rebranded its product offerings under the new marketing banner, ‘The Happy Co TM’. Segments The company operates through Health and Wellness Products, and Other segments. The company operates through two segments, the sale of Health and Wellness Products through an independent sales force; and the sale of other products and services, including third-party skincare products, and services sold on a subscription basis. During the year ended March 31, 2022, 87% of the company’s consolidated sales were made to customers and independent contractor distributors located in the United States (the U.S.). Health and Wellness Product Line The company launched its current health and wellness product line, under the name Elevate, in 2017. In 2021, the company rebranded its products under The Happy Co trademark. The company’s health and wellness product line include Nootropics, natural products aimed at improving the health and happiness of its customers and distributors. Key Products The company purchases its proprietary and non-proprietary products from independent formulators and manufacturers who specialize in wellness and skincare products. Health & Wellness Products Elevate MAX Happy Coffee – A 100% Arabica coffee drink with a combination of approximately five powerful mood-enhancing ingredients and a non-stimulant thermogenic agent, p-synephrine, known to increase the breakdown of fats. When combined with XanthoMax, Elevate MAX coffee completes the set of four hormones that are associated with happiness. XanthoMax Happy Caps – An encapsulated wellness supplement designed to deliver Xanthohumol, a powerful antioxidant, and Turmeric. Xanthohumol is a natural ingredient that helps the body release elevated amounts of Oxytocin, commonly referred to as the ‘hormone of happiness’. When combined with any of the company’s functional beverages, XanthoMax completes the set of four hormones that are associated with happiness. Elevate NITRO Bold Coffee – A 100% Colombian Arabica coffee drink that blooms with a bold, aromatic body and promotes energy, focus, motivation and muscle-pumping nitric oxide using naturally extracted polyphenols. When combined with XanthoMax, Elevate NITRO coffee completes the set of four hormones that are associated with happiness. Elevate Smart Coffee - A micro-ground, functional coffee drink that contains a proprietary blend of Nootropic ingredients designed to assist with mental clarity, memory and energy. This beverage provides neuro-transmitter hormone creators for three of the hormones associated with happiness. When combined with XanthoMax, Elevate Smart Coffee completes the set of four hormones that are associated with happiness. KetoCre Keto Creamer- A Ketogenic creamer designed to support a healthy Keto diet, and an addition to any weight management program. Choclevate Happy Chocolate – A Nootropic-infused hot chocolate drink designed to assist in the elevation of mood, mental focus and energy. When combined with XanthoMax, Choclevate completes the set of four hormones that are associated with happiness. Elevate ZEST Happy + Lemonade – A potent Nootropic blend with a smooth lemonade twist and a proprietary blend of natural Nootropic ingredients designed to assist with mental clarity, memory, and energy. When combined with XanthoMax, Elevate ZEST completes the set of four hormones that are associated with happiness. ElevaciTea Georgia Peach – A Southern-style tea that delivers natural Georgia Peach flavor in every sip. ElevaciTea Georgia Peach is an afternoon pick-me-up with a proprietary blend of Nootropic ingredients designed to assist with mental clarity, memory, and energy. ElevaciTea Vanilla Chai – An afternoon pick-me-up, ElevaciTea Vanilla Chai is a creamy, spiced black tea with a proprietary blend of Nootropic ingredients designed to assist with mental clarity, memory, and energy. Fit & Happy Shake – A high-protein instant shake available in two flavors: vanilla and mocha. Fit & Happy Shake combines vitamins with pre and probiotics and is a way to optimize weight management regiment. All-in-One Happy Shake – A ‘birthday cake’ flavored shake that combines nutrient-dense fruit and veggies with protein, antioxidants and plant fiber. Optimal Probiotic 8 – A healthy dietary supplement, including eight different strains of beneficial probiotics, prebiotics and postbiotics. Extreme Energy Patch – An application patch designed to sustain a clear, focused stream of energy throughout the day. Skincare Products Age-Defying Intensive Repair Serum - An age-defying serum that can help restore the appearance of healthy and glowing skin. The company’s proprietary Synchronized Peptide Complex is stabilized through a patented process to deliver results. This potent serum locks in moisture to help restore the skin’s youthful look. Ultimate Revitalizing Cream - An anti-aging cream that helps illuminate and firm up the skin. The company’s proprietary Synchronized Peptide Complex is stabilized through a patented process to deliver results. This cream helps the skin retain moisture and improve skin texture, for a firm and radiant looking skin. Strategy The company intends to grow its business by pursuing a multipronged growth strategy, that includes expanding its product offerings, both within the health and wellness category and in new product categories; expanding its direct-to consumer geographic footprint (primarily in Asia); and launching its membership-based consumer travel products line worldwide. This growth strategy may also include the use of strategic acquisitions of businesses that augment the company’s product and services portfolio, business competencies and geographic reach. International Reach During the year ended March 31, 2022, sales to customers and independent contractor distributors located in the U.S. accounted for approximately 87% of consolidated sales and sales to customers located in Korea were approximately 5%. In addition, the company distributes its products from the U.S. to customers located in Canada, Australia, New Zealand and other countries. In June 2021, the company, through its wholly owned subsidiary, commenced operations in the Republic of Korea (South Korea). Sales and Marketing The company relies on a direct selling model, including independent contractor distributors and on customer referrals to promote and sell a majority of its products. It also markets and sells its products and services using its proprietary websites, including www.elevacity.com and www.thehappyco.com. The company provides support to its independent contractor distributors with marketing content, websites, events, and technology. It offers its products online and provides its independent distributors with a virtual online Back Office website. This website is where independent distributors can manage, monitor, and operate their businesses 24 hours a day from any location. Product Distribution The distribution and delivery of the company’s products in the U.S., Canada, and the southern Pacific region is handled primarily by its distribution center in Addison, Texas. On the other hand, the sales, distribution, and delivery of its products in Asia is handled by its South Korean subsidiary. The company intends to grow, in part, by also offering and distributing its products to customers in additional geographic areas outside the U.S. Retail Customers and Independent Contractor Distributors The company distributes its products through two distribution channels, such as sales to its retail customers – consumers that buy its products from a distributor or through one of its websites, for personal use; and sales to its independent contractor distributors that buy product for resale or for personal use. Seasonality While the company’s business generally is not highly seasonal, sales activity is normally slower during November and December, when many customers and independent contractor distributors in the U.S. traditionally take a holiday break. Trademarks and Other Intellectual Property The company has obtained 22 trademark registrations issued by the United States Patent and Trademark Office. It anticipates obtaining additional U.S. trademark registrations in the future, in connection with the 34 applications presently pending. In addition, the company intends to file for trademark protection in jurisdictions outside the U.S. where it markets and distributes or intends to market and distribute its products, including, among others, in Canada, Australia, New Zealand, South Korea, Singapore, Malaysia, Japan, Thailand, and the Philippines. Regulatory Environment The U.S. Food and Drug Administration (the FDA) regulates both finished dietary supplement products (including certain of the company’s Health and Wellness Products) and dietary ingredients. Competition The company’s competitors include a range of retailers, including traditional retail stores that offer their products in ‘brick and mortar’ outlets and/or online, and e-commerce-based retailers. These retailers include, among other, CVS Health Corporation (Pharmacies), GNC Holdings (a specialty retailer), Target Corporation, The Vitamin Shoppe, Walgreens Boots Alliance (Pharmacies) and Walmart. The company competes with other direct selling businesses, including many that have a longer operating history, higher visibility and name recognition, and more financial resources than it does. Among others, these network marketing companies include Amway Corporation, Avon Products, Herbalife Nutrition, Mary Kay, Nature’s Sunshine Products, The Body Shop, Nu Skin Enterprises and Youngevity International. History Sharing Services Global Corporation was incorporated in the State of Nevada in 2015. The company was formerly known as Sharing Services, Inc. and changed its name to Sharing Services Global Corporation in 2019.