[SCHEDULE 13G] Dare Bioscience, Inc. SEC Filing

Rhea-AI Filing Summary

Law Custodial Inc. filed a Schedule 13G reporting beneficial ownership of 1,409,167 ordinary shares of Dare Bioscience, Inc., representing approximately 15.9% of the 8,871,155 shares outstanding used for the calculation. The filing states the shares were not acquired to change or influence control and that 795,271 of the shares are held as trustee with sole voting and dispositive power. The reporting person is organized in Samoa with a principal address in Hong Kong and the signature is dated 10/06/2025. This ownership level exceeds 5% and must be disclosed under the Exchange Act.

Positive

• Clear disclosure of aggregate ownership: 1,409,167 shares representing 15.9%
• Certification that holdings are passive and not intended to change control

Negative

• Large passive stake of 15.9% could concentrate voting power and influence
• Partial trustee holdings: 795,271 shares held as trustee with sole voting power increases practical control

Insights

Ownership Analyst

Law Custodial reports a material 15.9% stake with sole voting control over 1.41M shares.

The filing discloses total beneficial ownership of 1,409,167 ordinary shares, using a share base of 8,871,155 to compute 15.9%. The statement that 795,271 shares are held as trustee with sole voting and dispositive power indicates direct control over a substantial subset of the position.

This holding level is material to investors because it passes the 5% disclosure threshold; monitor any future amendments or Schedule 13D filings that would signal an active intent to influence corporate control within typical SEC reporting horizons.

Corporate Governance Specialist

The filer certifies the position is not held to influence control and cites nomination-only activities.

The certification language states the shares "were not acquired and are not held for the purpose of or with the effect of changing or influencing the control" and excludes other coordinated group activity. That classification governs reporting obligations and signals passive intent under the rules cited.

Governance risks to watch include any later reclassification to an active investor filing (Schedule 13D) or public disclosures of coordination, which would materially change the company's shareholder landscape within a near-term period if they occur.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Dare Bioscience, Inc.

(Name of Issuer)

Ordinary Shares

(Title of Class of Securities)

23666P2002

(CUSIP Number)

09/29/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 23666P2002

1

Names of Reporting Persons

LAW CUSTODIAL INC.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

SAMOA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,409,167.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,409,167.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,409,167.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

15.9 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Dare Bioscience, Inc.
(b)	Address of issuer's principal executive offices: 3655 NOBEL DRIVE, SUITE 260, SAN DIEGO, CALIFORNIA, 92122
Item 2.
(a)	Name of person filing: Law Custodial Inc.
(b)	Address or principal business office or, if none, residence: 6/F, Wings Building, 110-116 Queen's Road Central, Central, Hong Kong
(c)	Citizenship: Samoa
(d)	Title of class of securities: Ordinary Shares
(e)	CUSIP No.: 23666P2002
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The percentage used herein is calculated based upon 8,871,155 shares outstanding as of 30 June 2025 as filed by the issuer on 14 August 2025. The reporting person's total beneficial ownership amounts to 1,409,167 ordinary shares (constituting approximately 15.9% of the ordinary shares outstanding); of which 795,271 ordinary shares are held as trustee with sole voting and dispositive power.
(b)	Percent of class: 15.9%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,409,167
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,409,167
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

LAW CUSTODIAL INC.

Signature:	Shane Frederick Weir
Name/Title:	Director
Date:	10/06/2025

FAQ

What stake in Dare Bioscience (DARE) does Law Custodial Inc. report?

Law Custodial Inc. reports beneficial ownership of 1,409,167 ordinary shares, or approximately 15.9% of the class.

How many shares were used to calculate the 15.9% figure?

The percentage is calculated using 8,871,155 shares outstanding as of 30 June 2025.

Does Law Custodial claim the shares are intended to change control of DARE?

No. The filing includes a certification stating the securities "were not acquired and are not held for the purpose of or with the effect of changing or influencing the control."

How many of the reported shares are held as trustee with sole voting power?

795,271 of the shares are held as trustee with sole voting and dispositive power according to the filing.

Where is Law Custodial Inc. organized and where is its principal office listed?

The reporting person is organized in Samoa with a principal business address in Hong Kong at 6/F, Wings Building, 110-116 Queen's Road Central.