The only culinary N2O filter brand on the market. 2,123 customers, Shopify + Amazon, $35k @ 1.4x SDE

We sell hardware that cleans and controls nitrous oxide for whipped-cream dispensers and tank systems: a 1-micron copper-core filter with food-grade stainless fittings, and tank pressure regulators sold alone or bundled with the filter. It is the only brand selling a culinary N2O filter today, on Amazon or on Google; regulators are a commodity, the filter is not. Six SKUs across four product lines (Filter 1-pack and 3-pack, Regulator 2.0, System 2.0, Deluxe 2.0 with dual gauges), retailing $69 to $140 at current site prices. Founded January 2022 in California, two owners, about 2 hours a week between them (about 100 hours a year; many weeks need none), fulfillment by a local contractor. THE NUMBERS (gross revenue and seller's discretionary earnings, from QuickBooks) - Calendar 2025: $82,293 revenue, $42,051 SDE. - Jul 2025 to Jun 2026: $57,286 revenue, $31,385 SDE. - Oct 2025 to Sep 2026: $46,501 revenue, $24,459 SDE. This is the window we price on. SDE adds back $5,400 of rent for a small inventory storage unit (the stock fits in a garage or existing space) and the AI subscription used to optimize the business; Shopify, domain and Google Workspace charges are not added back [confirm]. The full add-back schedule is in the data room P&L. - Shopify, year to Oct 1, 2026: $37,660 in sales, 283 orders, $133 average order, 0.0% refund rate, 2,123 customers, all on the email list. Amazon, same period: 34 orders at a $190 average. - Direct product cost about 15% of revenue; gross margin after fees, shipping, discounts and refunds about 66%. Channel mix: Shopify about 76%, Amazon about 15%, shipping income about 9%. Owner time: about 2 hours a week, about 100 hours a year, at today's volume of about 6 orders a week; all packing and shipping is done by a paid contractor ($2,774 in the window). Earlier listings said 5 to 8 hours; that was 2025, with paid campaigns running ($10,261 of ad spend, none since April 2026) and twice today's order volume. WHY REVENUE IS DOWN, IN PLAIN TERMS Two reasons, one of which a buyer can fix. First, the consumer N2O tank market is contracting under new state laws (see the note below), and tank regulators were the growth line in 2025. Second, the business has had no paid marketing since early 2025 [reconcile with the owner-time line above, which says none since April 2026]. We are pricing on today's run-rate, not on 2025. REGULATORY AND PLATFORM NOTES, SO YOU DO NOT HAVE TO ASK - The products are empty hardware. We found no US, UK or EU rule that regulates N2O filters or regulators. - Consumer sales of N2O containers are restricted in Louisiana (2024 and 2025), Alabama (Oct 2025), Washington (Jun 2026), South Carolina (May 2026), Tennessee (Jul 2026) and, from Jan 1, 2027, California (SB 936, signed Sep 18, 2026: containers over 8g, with exemptions for restaurant, food-service and wholesale supply). Oregon and New York set age limits. - Two federal bills are live: H.R. 7945 (reported by House Energy and Commerce 36 to 0 on Sep 16, 2026; would ban consumer N2O products 180 days after enactment, commercial kitchens exempt) and S. 4997 (Senate HELP committee since Jul 2026; 8g cap on food-use products, 21 and over). - Every statute exempts commercial kitchens, food service and medical use, and 8g chargers remain legal to sell in every state. The regulator line depends on the consumer tank segment; the filter line does not. - eBay prohibits N2O charger and canister listings. Amazon restricts N2O gas through FBA; our hardware listings remain live, and the Deluxe 2.0 is the first organic Amazon result for "n2o filter". - Payments run on Bankful and Square. In an asset sale the buyer may open their own processor and marketplace accounts, or continue with existing. WHO SHOULD BUY THIS - A tank, charger or dispenser brand or distributor. You already carry the category and the customers; this adds the only filter SKU in the market and a regulator with live Amazon placement. - A restaurant and bar supply retailer. Commercial kitchens are exempt in every statute, and these products have never been sold B2B. - An operator with a culinary Shopify store and payment processing in place who wants a 2-hour-a-week bolt-on with a 2,123-customer email list. WHAT IS INCLUDED All web properties, the Shopify store, the Amazon Seller Central account and ASINs, all product designs, the supplier relationships (China; about 60 days lead time; 100-250 MOQ depending on SKU), trademarks and brand assets, the 2,123-customer email list, the YouTube channel, blog and social accounts, inventory purchased at cost on top of the price ($4,735 as of Oct 8, 2026, $23,154 at retail, about six months of sales at the trailing rate, counted at close), and 30 days of transition with introductions to the supplier and the fulfillment contractor. GROWTH A BUYER CAN ACT ON IN THE FIRST 30 DAYS 1. Add a second regulator source and expand the regulator line (M11 regulators are a commodity with several OEMs); regulators were the 2025 growth line. 2. Put the 2,123-customer list on a replenishment cadence. The filter is a consumable. 3. Price the filter against nothing: there is no competing culinary N2O filter on Amazon or Google. 4. Add a B2B page for restaurants, bars and caterers (rapid infusion, espumas, whipped cream), the segment every statute exempts. 5. Run Amazon advertising on the Deluxe 2.0, which has placement and no reviews yet. PRICE AND TERMS $35,000 for the business plus inventory at cost ($4,735 as of Oct 8, 2026, $23,154 at retail, counted at close), about $39,750 all-in. Cash at close through Acquire escrow. Asset sale. No seller financing and no earnout. 30 days of hands-on transition. REASON FOR SALE Both owners are moving to other ventures. The business needs an owner who will market it, work the list and sell into food service, and we have priced it so that owner can buy it this quarter.