Volume 1, Issue 1.

JANUARY 18, 2026

To our investors,

What are the “main goals for the year?”

1. Friday, September 11, 2026, hosting 1892’s founding 250 members for the opening party at our clubhouse, 110 E. Clayton St., Athens, GA 30601

2. In November 2026, starting construction at our project near Savannah, GA

3. By December 31, 2026, having two [REDACTED]

What are the “main goals for the quarter?”

• 1892’s February 28, 2026, loan covenant satisfied

• Contracts for our projects near Savannah, GA and Napa, CA signed

• [REDACTED] applications filed and [REDACTED] purchased

“What are we working on this week?”

• Two days in Athens, GA, focused on 1892’s product

• Four days on the West Coast, evaluating assets for a client

• Somewhere along the way, selecting a money manager

How can you help us, “such as introductions, advice, or feedback?” Please email me at bcox@thoreaucapital.com

• Tell me your thoughts on “The Sunday Scorecard”!

APPENDIX

FAITH

• Attended Church Today: Yes

• Services This Year: 2

• This Year’s Goal: 40

FAMILY

• [REDACTED]

  • This Week: 7

  • This Year: 13

  • This Year’s Goal: 208

• Days with Family

  • This Week: 0

  • This Year: 0

  • This Year’s Goal: 24

FRIENDS

• Tee Times

  • This Week: 0

  • This Year: 5

  • This Year’s Goal: 34

• Reservations

  • This Week: 2

  • This Year: 2

  • This Year’s Goal: 24

WORK

• Loan Covenants, % Satisfied

  • February 28, 2026: 84%

  • June 30, 2026: 34%

• [REDACTED]

  • Last Year: 1

  • At the Moment: 1

  • This Year’s Goal: 2

• Net Cash Flow, % Year-Over-Year

  • January: TBA

  • February: TBA

  • March: TBA

  • April: TBA

  • May: TBA

  • June: TBA

  • July: TBA

  • August: TBA

  • September: TBA

  • October: TBA

  • November: TBA

  • December: TBA