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REGISTRATION RIGHTS AGREEMENT

This Registration Rights Agreement (the “Agreement”) is made and entered into as
of this ___ day of _______________, 2020, by and among Acquired Sales Corp., a
Nevada corporation (the “Company”), and Nicholas S. Warrender, a resident of
Wisconsin (the “Lifted Owner”).

RECITALS:

WHEREAS, the Company and Warrender Enterprise Inc. d/b/a Lifted Liquids
(“Target”) entered into that certain Merger Agreement, dated as of January 7,
2020 (the “Merger Agreement”) pursuant to which Target was merged with and into
Lifted Liquids, Inc., a wholly-owned subsidiary of the Company (the "Merger
Sub"), with the Merger Sub as the surviving entity.

WHEREAS, in connection with the Merger Agreement, the Lifted Owner was issued an
aggregate of 3,900,455 shares of Common Stock (as defined below) of the Company;
and

WHEREAS, in connection with the consummation of the transactions contemplated by
the Merger Agreement, and pursuant to the terms of the Merger Agreement, the
parties hereto desire to enter into this Agreement in order to grant certain
registration rights to the Lifted Owner as set forth below.

The parties hereby agree as follows intending to be legally bound hereby:

1.Certain Definitions. 

As used in this Agreement, the following terms shall have the following
meanings:

“Board” shall mean the Board of Directors of the Company.

“Common Stock” shall mean Common stock, par value $0.001 per share, of the
Company and any other shares of stock issued or issuable with respect thereto
(whether by way of a stock dividend or stock split or in exchange for or upon
conversion of such shares or otherwise in connection with a combination of
shares, distribution, recapitalization, merger, consolidation, other corporate
reorganization or other similar event with respect to the Common Stock).

“Demand Registration” shall mean a registration pursuant to Section 2 hereof.

“Holder” shall mean the beneficial owner of a security. For all purposes of this
Agreement, the Company shall be entitled to treat the record owner of a security
as the beneficial owner of such security unless the Company has been given
written notice of the existence and identity of a different beneficial owner.

“Misstatement” shall mean an untrue statement of a material fact or an omission
to state a material fact required to be stated in a Registration Statement or
Prospectus or necessary to

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make the statements in a Registration Statement, Prospectus or preliminary
prospectus not misleading.

“Permitted Transferee” of the Lifted Owner shall mean (a) the Lifted Owner’s
spouse, parent, child, grandchild, sibling, niece or nephew (whether natural,
adopted or in the process of adoption) (b) an entity owned 100% by the Lifted
Owner or any of the foregoing individuals and (c) a revocable trust established
by the Lifted Owner for the benefit of Lifted Owner or Lifted Owner’s child,
grandchild, niece or nephew (whether natural, adopted or in the process of
adoption) and of which the Lifted Owner is the sole trustee.

“Person” shall mean a natural person, partnership, corporation, business trust,
association, limited liability company, joint venture or other entity or a
government or agency or political subdivision thereof.

“Piggyback Registration” shall mean a registration pursuant to Section 3 hereof.

“Prospectus” shall mean the prospectus included in any Registration Statement
(including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective Registration
Statement in reliance on Rule 430A under the Securities Act or any successor
rule thereto), as amended and supplemented by any and all prospectus supplements
and as amended by any and all post-effective amendments and including all
material incorporated by reference in such prospectus.

“Registration” shall mean Demand or Piggyback Registration.

“Registration Expenses” shall mean out-of-pocket expenses of a Registration,
including:

(a)all registration and filing fees (including fees with respect to filings
required to be made with the National Association of Securities Dealers); 

(b)fees and expenses of compliance with securities or blue sky laws (including
fees and disbursements of counsel for the underwriters or selling Holders in
connection with blue sky qualifications of the Registerable Securities and
determinations of their eligibility for investment under the laws of such
jurisdictions as the managing underwriters or Holders of a majority of the
Registerable Securities being sold may designate); 

(c)printing, messenger, telephone and delivery expenses; 

(d)fees and disbursements of counsel for the Company, counsel for the
underwriters and of not more than one firm of attorneys for the sellers of the
Registerable Securities; 

(e)fees and disbursements of all independent certified public accountants of the
Company incurred in connection with such Registration (including the expenses of
any special audit and “cold comfort” letters incident to such registration); 

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(f)fees and disbursements of underwriters (excluding discounts, commissions or
fees of underwriters, selling brokers, dealer managers or similar securities
industry professionals relating to the distribution of the Registerable
Securities; 

(g)premiums and other costs of securities acts liability insurance if the
Company so desires or if the underwriters or selling Holders of Registerable
Securities so require; and 

(h)fees and expenses of any other Persons retained by the Company. 

“Registerable Securities” shall mean those Securities which have not been sold
to the public.

“Registration Statement” shall mean any registration statement which covers
Registerable Securities pursuant to the provisions of this Agreement, including
the Prospectus included in such registration statement, amendments (including
post-effective amendments) and supplements to such registration statement, and
all exhibits to and all material incorporated by reference in such registration
statement.

“Securities” shall mean (a) any shares of Common Stock beneficially owned by the
Lifted Owner, and (b) any shares of Common Stock issued or issuable with respect
to any shares described in subsection (a) above by way of a stock dividend or
stock split or in exchange for or upon conversion of such shares or otherwise in
connection with a combination of shares, distribution, recapitalization, merger,
consolidation, other reorganization or other similar event with respect to the
Common Stock (it being understood that, for purposes of this Agreement, a Person
shall be deemed to be a Holder of Securities whenever such Person has the right
to then acquire or obtain from the Company any Securities, whether or not such
acquisition has actually been effected).

“Underwritten registrations or underwritten offering” shall mean a registration
in which securities of the Company are sold to an underwriter for distribution
to the public.

2.Demand Registrations. 

(a)At any time beginning on the 120th day following the closing of the Merger
Agreement, but only if the Company has not filed a Registration Statement prior
thereto with respect to which the Lifted Owner was granted piggyback
registration rights pursuant to Section 3 and was permitted to include for
registration thereon all of the Registerable Securities, upon the request of the
Lifted Owner, the Holders of Registerable Securities shall have the right to
request registration under the Securities Act of all or any portion of their
Registerable Securities pursuant to a Registration Statement on Form S-1 or any
similar long-form Registration Statement (a “Long-Form Registration”) or, if
eligible, Form S-3 (a “Short-Form Registration” and, together with each
Long-Form Registration and Shelf Registration (as defined below), a “Demand
Registration”).  Each request for a Long-Form Registration or Short-Form
Registration shall specify the number of Registerable Securities requested to be
included in the Demand Registration.  Upon receipt of any such request, the
Company shall promptly (but in no event later than ten (10) days following
receipt thereof) deliver notice of such request to all other Holders of
Registerable Securities who shall then have ten (10) days from the date such
notice is  

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given to notify the Company in writing of their desire to be included in such
registration.  The Company shall prepare and file with (or confidentially submit
to) the Securities and Exchange Commission (the “Commission”) SEC a Registration
Statement on Form S-1 or Form S-3 (as applicable) or any successor form thereto
covering all of the Registerable Securities that the Holders thereof have
requested to be included in such Demand Registration as promptly as practicable
following the date such initial request is given and shall use its good faith
efforts to cause such Registration Statement to be declared effective by the SEC
as soon as practicable thereafter.  The Lifted Owner shall be entitled to no
more than one (1) Demand Registration in any twelve (12) month period pursuant
to this Section 2 and three (3) Demand Registrations pursuant to this Section 2
in the aggregate.

(b)The Company may postpone for up to 180 days the filing or effectiveness of a
Registration Statement for a Demand Registration if the Board determines in its
reasonable good faith judgment that such Demand Registration would (i)
materially interfere with a significant acquisition, corporate organization,
financing, securities offering or other similar transaction involving the
Company; (ii) require premature disclosure of material information that the
Company has a bona fide business purpose for preserving as confidential; or
(iii) render the Company unable to comply with requirements under the Securities
Act or Exchange Act, provided, that in such event the Holders of a majority of
the Registerable Securities initiating such Demand Registration shall be
entitled to withdraw such request and, if such request for a Demand Registration
is withdrawn, such Demand Registration shall not count as one of the permitted
Demand Registrations hereunder and the Company shall pay all registration
expenses in connection with such registration.  The Company may delay a Demand
Registration hereunder only once in any period of 12 consecutive months.
Notwithstanding anything to the contrary herein, no Demand Registration shall be
required where in the judgment of the Company, its legal counsel, and/or SEC
guidance and comments the registration would be deemed a primary offering
pursuant to Securities Act Rule 415, which is interpreted by the SEC staff to
prohibit registrations of stock for resale where the seller is deemed to be
engaged in a primary offering of behalf of the issuer. 

(c)The Company shall not include in any Demand Registration any securities which
are not Registerable Securities without the prior written consent of Lifted
Holder, which consent shall not be unreasonably withheld or delayed. If a Demand
Registration involves an underwritten offering and the managing underwriter of
the requested Demand Registration advises the Company and the holders of
Registerable Securities in writing that in its reasonable and good faith opinion
the number of shares of Common Stock proposed to be included in the Demand
Registration exceeds the number of shares of Common Stock which can be sold in
such underwritten offering and/or the number of shares of Common Stock proposed
to be included in such Demand Registration would adversely affect the price per
share of the Common Stock proposed to be sold in such underwritten offering, the
Company shall include in such Demand Registration (i) first, the shares of
Common Stock that Lifted Holder proposes to sell, and (ii) second, the shares of
Common Stock proposed to be included therein by any other Persons (including
shares of Common Stock to be sold for the account of the Company and/or other
holders of Common Stock) allocated among such Persons in such manner as they may
agree.  

(d)Notwithstanding anything to the contrary herein, the Company is not required
to register Securities reasonably deemed by the Company’s securities counsel or
by the staff of the  

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U.S. Securities and Exchange Commission to be a “primary offering” not
qualifying as a secondary offering pursuant to Securities Act Rule 415(a)(1)(i).

3.Piggyback Registrations. 

(a)Participation. 

Each time the Company decides to file a registration statement under the
Securities Act (other than on Forms S-4 or S-8) covering the offer and sale by
it or any of its security holders of any of its securities for money, the
Company shall give written notice thereof to all Holders of Registerable
Securities. The Company shall include in such registration statement such shares
of Registerable Securities for which it has received written requests to
register such shares within 30 days after such written notice has been given.

(b)Underwriter’s Cutback. 

If in the good faith judgment of the managing underwriter of such offering the
inclusion of all of the shares of Registerable Securities and any other Common
Stock requested to be registered would interfere with the successful marketing
of a smaller number of such shares, then the number of shares of Registerable
Securities and other Common Stock to be included in the offering (except for
shares to be issued by the Company in an offering initiated by the Company)
shall be reduced to such smaller number with the participation in such offering
to be in the following order of priority: (1) first, the shares of Registerable
Securities requested to be included, and (2) second, any other shares of Common
Stock requested to be included. Any necessary allocation among the Holders of
shares within each of the foregoing groups shall be pro rata among such Holders
requesting such registration based upon the number of shares of Common Stock and
Registerable Securities owned by such Holders.

All shares so excluded from the underwritten public offering shall be withheld
from the market by the Holders thereof for a period (not to exceed 30 days prior
to the effective date and 90 days thereafter) that the managing underwriter
reasonably determines is necessary in order to effect the underwritten public
offering. Notwithstanding anything to the contrary herein, no Piggyback
Registration shall be required where in the judgment of the Company, its legal
counsel, and/or SEC guidance and comments the registration would be deemed a
primary offering pursuant to Securities Act Rule 415, which is interpreted by
the SEC staff to prohibit registrations of stock for resale where the seller is
deemed to be engaged in a primary offering of behalf of the issuer.

4.Hold-Back Agreements. 

Upon the written request of the managing underwriter of any underwritten
offering of the Company’s securities, a Holder of Registerable Securities shall
not sell, make any short sale of loan, grant any option for the acquisition of;
or otherwise dispose of any Registerable Securities (other than those included
in such registration) without the prior written consent of such managing
underwriter for a period (not to exceed 30 days before the effective date and 90
days thereafter) that such managing underwriter reasonably determines is
necessary in order to effect the underwritten public offering; provided that
each of the officers and directors of the Company

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shall have entered into substantially similar holdback agreements with such
managing underwriter covering at least the same period.

5.Registration Procedures. 

If and whenever the Company is required to register Registerable Securities in a
Demand Registration or a Piggyback Registration, the Company will use its best
efforts to effect such registration to permit the sale of such Registerable
Securities in accordance with the intended plan of distribution thereof; and
pursuant thereto the Company will as promptly as practicable:

(a)prepare and file with the Securities and Exchange Commission (“SEC”) as soon
as practicable a Registration Statement with respect to such Registerable
Securities and use its good faith efforts to cause such Registration Statement
to become effective and remain effective until the Registerable Securities
covered by such Registration Statement have been sold;  

(b)prepare and file with the SEC such amendments and post-effective amendments
to the Registration Statement, and such supplements to the Prospectus, as may be
requested by any Holder of Registerable Securities or any underwriter of
Registerable Securities or as may be required by the rules, regulations or
instructions applicable to the registration form used by the Company or by the
Securities Act or rules and regulations thereunder to keep the Registration
Statement effective until all Registerable Securities covered by such
Registration Statement are sold in accordance with the intended plan of
distribution set forth in such Registration Statement or supplement to the
Prospectus; and 

(c)otherwise use its good faith efforts to comply with all applicable rules and
regulations of the SEC, and make generally available to its security holders
earnings statements satisfying the provisions of Section 11(a) of the Securities
Act, no later than 45 days after the end of any 12-month period (or 90 days, if
such period is a fiscal year) (x) commencing at the end of any fiscal quarter in
which Registerable Securities are sold to underwriters in an underwritten
offering, or, if not sold to underwriters in such an offering, (y) beginning
with the first month of the Company’s first fiscal quarter commencing after the
effective date of the Registration Statement, which statements shall cover said
12-month periods. 

6.Registration Expenses; Indemnification. 

All Registration Expenses will be borne by the Company.

The Company shall indemnify and hold harmless, to the fullest extent permitted
by law, each Holder of Registerable Securities, such Holder’s officers,
directors, managers, members, partners, stockholders and affiliates, each
underwriter, broker or any other Person acting on behalf of such Holder of
Registerable Securities against all losses, claims, actions, damages,
liabilities and expenses, joint or several, to which any of the foregoing
Persons may become subject under the Securities Act or otherwise, insofar as
such losses, claims, actions, damages, liabilities or expenses arise out of or
are based upon any untrue or alleged untrue statement of a material fact
contained in any Registration Statement or Prospectus or any amendment thereof
or

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supplement thereto or any omission or alleged omission of a material fact
required to be stated therein or necessary to make the statements therein not
misleading; and shall reimburse such Persons for any legal or other expenses
reasonably incurred by any of them in connection with investigating or defending
any such loss, claim, action, damage or liability, except insofar as the same
are caused by or contained in any information furnished in writing to the
Company by such Holder expressly for use therein or by such Holder’s failure to
deliver a copy of the Registration Statement, Prospectus or any amendments or
supplements thereto (if the same was required by applicable law to be so
delivered) after the Company has furnished such Holder with a sufficient number
of copies of the same prior to any written confirmation of the sale of
Registerable Securities.  This indemnity shall be in addition to any liability
the Company may otherwise have.

In connection with any registration in which a Holder of Registerable Securities
is participating, each such Holder shall furnish to the Company in writing such
information as the Company reasonably requests for use in connection with any
such Registration Statement or Prospectus and, to the extent permitted by law,
shall indemnify and hold harmless, the Company, each director of the Company,
each officer of the Company who shall sign such Registration Statement, each
underwriter, broker or other Person acting on behalf of the Holders of
Registerable Securities against any losses, claims, actions, damages,
liabilities or expenses resulting from any untrue or alleged untrue statement of
material fact contained in the Registration Statement, Prospectus or any
amendment thereof or supplement thereto or any omission or alleged omission of a
material fact required to be stated therein or necessary to make the statements
therein not misleading, but only to the extent that such untrue statement or
omission is contained in any information so furnished in writing by such Holder;
provided, that the obligation to indemnify shall be several, not joint and
several, for each Holder and shall not exceed an amount equal to the net
proceeds (after underwriting fees, commissions or discounts) actually received
by such Holder from the sale of Registerable Securities pursuant to such
Registration Statement.  This indemnity shall be in addition to any liability
the selling Holder may otherwise have.

7.Exchange Act Reporting Requirements. 

The Company shall use good faith efforts to timely file such information,
documents and reports as the SEC may require or prescribe under Section 13 or
15(d) (whichever is applicable) of the Exchange Act. In addition, the Company
shall take such other measures and file such other information, documents and
reports, as shall hereafter be required by the SEC as a condition to the
availability of Rule 144 under the Securities Act (or any successor provision).

8.Requirements for Participation in Underwritten Offering. 

No Person may participate in any underwritten offering pursuant to a
Registration hereunder unless such Person (a) agrees to sell such Person’s
securities on the basis provided in any underwriting arrangements approved by
the Persons entitled hereunder to approve such arrangements and (b) completes
and executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents required under the terms of such underwriting
arrangements.

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9.Suspension of Sales. 

Upon receipt of written notice from the Company that a Registration Statement or
Prospectus contains a Misstatement, each Holder of Registerable Securities shall
forthwith discontinue disposition of Registerable Securities until such Holder
has received copies of the supplemented or amended Prospectus required by
Section 5 hereof; or until such Holder is advised in writing by the Company that
the use of the Prospectus may be resumed, and, if so directed by the Company,
such Holder shall deliver to the Company (at the Company’s expense) all copies,
other than permanent file copies then in such Holders possession, of the
Prospectus covering such Registerable Securities current at the time of receipt
of such notice.

10.Expiration of Registration Rights. 

This Agreement shall terminate and be of no further force or effect when there
shall no longer be any Registerable Securities outstanding; provided, that the
provisions of Section 6 shall survive any such termination.

11.Miscellaneous 

(a)Notices. 

All notices and other communications provided for or permitted hereunder shall
be made in writing by hand-delivery, registered first-class mail, email, fax, or
air courier guaranteeing overnight delivery:

If to the Company:Acquired Sales Corp. 

Attention:  Gerard M. Jacobs, Chief Executive Officer 

31 N. Suffolk Lane 

Lake Forest, IL  60045 

Email: GerardMJacobs@AcquiredSalesCorp.com 

 

If to the Lifted Owner:Nicholas S. Warrender 

328 55th Street B 

Kenosha, WI  53140 

Email:  Ape.Anonymous@gmail.com 

 

All such notices and communications shall be deemed to have been duly given: at
the time delivered by hand, if personally delivered; five business days after
being deposited in the mail, postage prepaid, if mailed; when answered back, if
faxed; when receipt acknowledged, if emailed; and on the next business day, if
timely delivered to an air courier guaranteeing overnight delivery.

(b)Successors and Assigns. 

This Agreement shall be binding upon and shall inure to the benefit of the
parties hereto and their respective successors and permitted assigns.  The
Company may assign this Agreement at any time in connection with a sale or
acquisition of the Company, whether by merger, consolidation, sale of all or
substantially all of the Company’s assets, or similar

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transaction, without the consent of the Lifted Owner; provided, that the
successor or acquiring Person agrees in writing to assume all of the Company’s
rights and obligations under this Agreement.  The Lifted Owner may assign his
rights hereunder only to a Permitted Transferee; provided, that such Permitted
Transferee shall, as a condition to the effectiveness of such assignment, be
required to execute a counterpart to this Agreement agreeing to be treated as a
Lifted Owner whereupon such Permitted Transferee shall have the benefits of, and
shall be subject to the restrictions contained in, this Agreement as if such
Permitted Transferee was originally included in the definition of a Lifted Owner
herein and had originally been a party hereto.

(c)Counterparts. 

This Agreement may be executed in any number of counterparts and by the parties
hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which taken together shall constitute one and the
same agreement.

(d)Headings. 

The headings in this Agreement are for convenience of reference only and shall
not limit or otherwise affect the meaning hereof.

(e) Governing Law. 

This Agreement shall be governed by and construed in accordance with the laws of
the State of Illinois.

(f)Severability. 

In the event that any one or more of the provisions contained herein, or the
application thereof in any circumstance, is held invalid, illegal or
unenforceable, the validity, legality and enforceability of any such provision
in every other respect and of the remaining provisions contained herein shall
not be affected or impaired thereby.

(g)Forms. 

All references in this Agreement to particular forms of registration statements
are intended to include all successor forms which are intended to replace, or to
apply to similar transactions as, the forms herein referenced.

(h)Entire Agreement. 

This Agreement and any warrants issued pursuant to such agreements are intended
by the parties as the final expression of their agreement and intended to be a
complete and exclusive statement of the agreement and understanding of the
parties hereto in respect of the subject matter contained herein. There are no
restrictions, promises, warranties or undertakings, other than those set forth
or referred to herein or therein with respect to the registration rights granted
by the Company with respect to the securities sold pursuant to the warrants
issued pursuant to such agreements. This Agreement and the warrants issued
pursuant

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to such Agreements supersede all prior agreements and understandings between the
parties with respect to such subject matter.

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IN WITNESS WHEREOF, the parties have executed this Agreement or caused their
duly authorized officers to execute this Agreement as of the date first above
written.

 

The Company:

 

ACQUIRED SALES CORP.

 

 

 

 

 

 

 

 

 

 

By:

 

 

 

 

Name:  Gerard M. Jacobs

 

 

 

Title:    Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

The Lifted Owner:

 

 

 

 

 

 

NICHOLAS S. WARRENDER

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