Company: TUTH
Filing Date: 2025-11-10
Form Type: 1-U
Source: 0001683168-25-008153
Chunk: 2

Company: Standard Dental Labs Inc.
Filing Date: 2025-11-10
Form: 1-U
Chunk 2
---
 (h) all personnel files and
payroll records related to employees of the Seller; (i) all causes of action, judgments, claims, reimbursements and demands, of
whatever nature, in favor of Seller which relate to the excluded assets or retained liabilities and all counterclaims, crossclaims,
and defenses in regard to any claims or causes of action currently or hereafter pending or threatened against Seller; (j) all
losses, loss carry forwards, loss carry backs, and rights to receive refunds, rebates, offsets, credits or credit carry forwards
with respect solely to taxes of Seller; (k) any insurance policies maintained by Seller and any claims under such policies and all
obligations under those insurance policies including costs associated with defense of any actions; (l) the charter documents, minute
books, stock ledgers, tax returns, books of account and other constituent records relating to the corporate organization of the
Seller; and (m) any other items listed on schedules to the Asset Purchase Agreement (collectively, the “Excluded Assets”).

The Company assumed certain liabilities related to
the Purchased Assets and the Seller retained certain liabilities related to the Excluded Assets.

The share consideration (the “Share Consideration”)
will consist of such number of shares of common stock of the Company (the “Common Shares”) equal to the quotient of
(A) the Gross Consideration less the Cash Consideration (as defined below), divided by (B) the volume weighted average price of the Common
Shares as quoted on the OTCQB for the five trading days immediately preceding the closing (the “Per Share Value”) and
shall be issued and payable by the Company to the Seller on the closing date, subject to the certain share holdbacks and lock-ups.

| 2 |

The Shares Consideration will be subject to a share
holdback of 20% for a period of 12 months to cover indemnity obligations of the Seller to the Company and to the following contractual
lock-up restrictions. Specifically, the Share Consideration will be held in escrow by the Company at the closing and released to the Seller
in eight (8) equal quarterly instalments beginning at the end of the first full fiscal quarter to occur after the closing date (the “Share Lock-Up”), further subject to reduction pursuant to the Earn-Out Adjustment described below.

The Share Consideration shall be subject to reduction
based on the confirmation of the annual billings generated by the Purchased Assets (the “Annual Gross Billings