• Photocil: Addresses psoriasis and vitiligo.
• JW-700: Treats hair loss.
• JW-500: For women's sexual wellness.
• NoStingz: A jellyfish sting prevention sunscreen.
• JW-110: Treats atopic dermatitis/eczema.

Jarrett Boon, Chief Executive Officer

Jarrett Boon is a seasoned entrepreneur and innovator with over 30 years of experience in creating and growing successful businesses. He was the Co-Founder and CEO of GBB Drink Lab, which developed Safety Shot. As one of the original thought leaders and investors in LifeLock, he applied his expertise in sales, marketing, and strategic business development to grow LifeLock to $500 million in revenue and take it public in 2012. LifeLock was subsequently acquired by Symantec for $2.3 billion. Prior to LifeLock, Mr. Boon founded SW Promotions, Inc., a resort marketing and advertising firm that was acquired by one of its publicly traded partners.

Markita Russell, Chief Financial Officer

Markita Russell was appointed Chief Financial Officer effective July 31, 2025, having served as the Company's Controller since August 2021. She brings over 30 years of extensive experience in the financial and accounting sectors, with a proven track record of managing significant growth and providing strategic financial oversight across multiple industries. Her career began in the beverage industry at PepsiCo, providing her with a foundational understanding of the sector. Notably, Ms. Russell was instrumental in scaling a marine industry company's revenue from $7 million in 2012 to $56.8 million by the end of 2020.

John Gulyas, Chairman of the Board

John Gulyas is a serial entrepreneur with multiple 7-figure exits. His experience spans various industries including cellular services, waste management, and hospitality. Over the last 13 years, Mr. Gulyas has owned, operated, and invested in multiple franchise brands. He continues to consult with franchisors on how to successfully develop their brands, with his most notable work in this area being helping European Wax Center grow from 4 to 640 locations.

Dr. Glynn Wilson, Chief Scientific Officer

Dr. Glynn Wilson, who holds a Ph.D., serves as the Chief Scientific Officer of Safety Shot, Inc. In this role, he is responsible for guiding the company's research and development initiatives, ensuring they are grounded in rigorous scientific principles. Dr. Wilson's expertise is crucial in shaping the scientific direction of Safety Shot's innovative products and contributing to their efficacy and scientific validation. In his early career, he was head of new Drug Development at Smithkline.

The public company Bonk (symbol: BNKK), formerly known as Safety Shot, Inc., faces several key risks to its business.

1. Regulatory Scrutiny and Product Claim Substantiation: The most significant risk stems from potential regulatory action concerning the efficacy claims of its flagship product, Safety Shot. The company markets this functional beverage with claims of significantly reducing blood alcohol content, which some analyses suggest are "fraudulent" and "refuted by the most basic facts of how the human body processes alcohol". Safety Shot markets its beverage as a nutraceutical, potentially to avoid more stringent FDA regulation. However, experts anticipate regulatory intervention due to these claims, which could lead to substantial penalties, restrictions on marketing, and severe damage to the company's reputation and ability to sell its core product.
2. Financial Instability and Lack of Established Market Acceptance: The company has a limited operating history and faces considerable financial challenges, including a negative gross profit and concerns about its ability to continue as a going concern. Its revenue has not been consistently recurring, and there is a perceived lack of clear market validation for its primary product. High spending on marketing and promotions, coupled with a significant burn rate, necessitate frequent capital raises, which risk further diluting existing stockholders' interests. The stock has also experienced significant volatility and a substantial decline over the past year, reflecting investor uncertainty.
3. Operational Dependencies, Intense Competition, and Volatility from Cryptocurrency Integration: Safety Shot operates in highly competitive and rapidly evolving markets for dietary supplements and wellness beverages. The company is heavily reliant on third-party manufacturers, suppliers, and a distribution network, introducing risks related to quality control, supply chain disruptions, and inconsistent market traction. Furthermore, its recent strategic alliance and integration into the Solana-based BONK cryptocurrency ecosystem introduce an additional layer of risk, linking a portion of the company's potential earnings to the volatile and speculative nature of the cryptocurrency market, which is largely outside its traditional operational expertise.

Bonk, Inc. (symbol: BNKK) operates in two primary areas: a beverage division and a digital asset ecosystem. The addressable markets for its main products and services are as follows:

Beverage Division (Sure Shot and Yerbaé)

Bonk, Inc.'s beverage division includes the patented "Sure Shot" product (formerly "Safety Shot") and the "Yerbaé" brand. These products fall under the broader categories of functional beverages and, more specifically, hangover cure products for Sure Shot, and the Yerba Mate market for Yerbaé.

• Hangover Cure Products Market (for Sure Shot): The global hangover cure products market was valued at approximately USD 3.12 billion in 2025. It is projected to grow to about USD 11.05 billion by 2034, demonstrating a compound annual growth rate (CAGR) of 15.09% from 2026 to 2034. This market is global, with significant activity in regions such as North America and Asia-Pacific.
• Yerba Mate Market (for Yerbaé): The global Yerba Mate market was valued at approximately USD 2.1 billion in 2024 and is expected to reach around USD 3.4 billion by 2034, growing at a CAGR of 4.9% from 2025 to 2034. The Asia-Pacific region held the largest share of this market in 2024.
• Functional Beverages Market (broader category for both): The global functional beverages market was valued at around USD 166.05 billion in 2025 and is projected to reach approximately USD 372.43 billion by 2034, with a CAGR of 9.39% from 2026 to 2034. North America is a dominant region in this global market.

Digital Asset Ecosystem (BONK Cryptocurrency)

Bonk, Inc. is also involved in the digital asset ecosystem, specifically with the BONK cryptocurrency, through its interest in BONK.fun and the accumulation of BONK digital assets.

• Memecoin Market (for BONK): The collective global memecoin market capitalization was estimated to be between USD 80 billion and USD 90 billion as of mid-2025. This market is projected to reach approximately USD 925.2 billion by 2035, growing at a CAGR of around 26.7% between 2025 and 2035. As of early 2026, the sector stood at approximately USD 49.5 billion.
• Cryptocurrency Market (broader category): The global cryptocurrency market size was estimated at USD 2,734.6 billion in 2025 and is expected to reach USD 6,394.1 billion by 2034, exhibiting a CAGR of 9.60% during 2026-2034. Different sources report varying regional dominance, with Asia Pacific, North America, and Europe all noted as leading regions in the global market.

Expected Drivers of Future Revenue Growth for Bonk (BNKK)

Over the next 2-3 years, Bonk (BNKK) is expected to drive future revenue growth through a multifaceted strategy that combines its involvement in the digital asset ecosystem with the expansion of its beverage division. The company, which rebranded from Safety Shot, Inc. to Bonk, Inc. and changed its ticker to BNKK on October 10, 2025, has outlined key areas for growth.

1. Growth in Revenue from BONK.fun Interest: Bonk, Inc. holds a significant revenue interest in BONK.fun, a platform within the BONK digital asset ecosystem, described as a primary revenue-generating asset. The company's 51% revenue interest in BONK.fun is expected to act as a "revenue flywheel" converting ecosystem activity into recurring cash flow. Recent reports have highlighted substantial monthly income from this interest, indicating its potential for continued growth.
2. Expansion and Active Management of BONK Digital Asset Treasury: A core component of Bonk, Inc.'s strategy is the accumulation and active management of a treasury of BONK digital assets. The company aims to achieve a strategic target of owning 5% of the circulating supply of BONK tokens, utilizing net cash flow from its digital operations rather than solely relying on external capital for this accumulation. This "revenue-to-treasury" model is designed to link platform performance directly to the growth of its digital asset holdings.
3. Strategic Integration and Partnerships within the Digital Asset Ecosystem: Bonk, Inc. is actively positioning itself to bridge traditional public markets and the digital asset ecosystem. This includes acquiring revenue-generating assets within the decentralized finance (DeFi) space and establishing strategic partnerships, such as welcoming TenX Protocols. This focus on integration within the broader digital asset and DeFi landscape is anticipated to unlock new revenue streams and opportunities.
4. Expansion and Marketing of Sure Shot and Yerbaé Beverage Brands: The company's beverage division, which includes the patented Sure Shot and Yerbaé plant-based energy brands, is another expected driver of revenue. Bonk, Inc. intends to reinvest revenue from this segment into marketing, inventory, and broader expansion efforts, indicating a continued focus on growing its traditional consumer products business alongside its digital asset ventures.

Share Issuance

• In July 2025, Safety Shot entered into a securities purchase agreement for a $250,000 private placement, issuing 844,594 shares of common stock.
• Safety Shot completed a registered direct offering in July 2025, issuing 28,648,648 shares of common stock at $0.37 per share, generating approximately $10.6 million in gross proceeds.
• In August 2025, Safety Shot raised $30 million through a $5 million registered direct offering and a $25 million private placement, with all shares priced at $0.46 per share.

Inbound Investments

• Safety Shot secured $30 million in strategic financing in August 2025, which included a $5 million registered direct offering and a $25 million private placement funded with BONK tokens by BONK founding members.
• In August 2025, Safety Shot formed a strategic alliance with BONK founding contributors, receiving approximately $25 million worth of BONK tokens in exchange for issuing $35 million in Preferred Shares convertible to common stock.
• Safety Shot President Jordan Schur, through Core 4 Capital Corp., invested an additional $3.4 million in September 2024 via a private placement, increasing Core 4's total investment to $9.4 million.

Outbound Investments

• In August 2025, Safety Shot acquired a 10% revenue sharing interest in BONK.fun, a decentralized platform on the Solana blockchain, and also received an initial $25 million in BONK tokens as part of a preferred stock transaction.
• Safety Shot completed its acquisition of Yerbae Brands Corp. in July 2025, issuing approximately 19.9 million shares to former Yerbae shareholders.
• In August 2023, the company (then Jupiter Wellness, Inc.) acquired certain assets of GBB Drink Lab Inc., including the Safety Shot Beverage.

Capital Expenditures

• Based on the financial report for December 31, 2024, Safety Shot Inc.'s capital expenditures amounted to -$172.8k USD.
• The company incurred research and development expenses of $1,637,117 in 2022 and $100,591 in 2023, focusing on developing new therapeutic products and improving existing ones.
• The primary focus of capital expenditures includes investments in product displays to support channel marketing through retail partners, as well as expanding product lines and developing innovative solutions for various conditions.