Exhibit
4.1


 


DESCRIPTION
OF THE REGISTRANT’S SECURITIES


REGISTERED
PURSUANT TO SECTION 12 OF THE SECURITIES


EXCHANGE
ACT OF 1934


 


General


 


We
are currently authorized to issue up to 1,500,000,000 shares of Common Stock, and 50,000,000 shares of preferred stock, par value $0.0001
per share, of which none were issued and outstanding as of the date of this Annual Report. All of our issued and outstanding shares have
been validly issued, fully paid and non-assessable.


 


Our
bylaws permit the board of directors to issue the whole or any part of any unissued balance of the authorized capital stock. Our certificate
of incorporation permits us to increase or decrease the number of authorized shares of Common Stock by the affirmative vote of the holders
of a majority of the stock of the Company entitled to vote.


 


Common
Stock


 


Voting
Rights


 


Holders
of our Common Stock are entitled to one vote for each share held on all matters submitted to a vote of our stockholders. Holders of our
Common Stock have no cumulative voting rights. Further, holders of our Common Stock have no preemptive, conversion, redemption or subscription
rights and there are no sinking fund provisions applicable to our Common Stock.


 


Liquidation
Rights


 


In
the event of our liquidation, dissolution or winding-up, holders of our Common Stock have the right under Section 281 of the Delaware
General Corporation Law to a ratable portion of assets remaining after satisfaction in full of the prior rights of our creditors, all
liabilities and the total liquidation preferences of any outstanding shares of preferred stock.


 


Dividends


 


Subject
to preferences that may be applicable to any outstanding shares of preferred stock, holders of our Common Stock are entitled to receive
dividends, if any, as may be declared from time to time by our board of directors, or board, out of our assets which are legally available.


 


Preferred
Stock


 


Our
Certificate of Incorporation authorizes 50,000,000 shares of preferred stock, par value $0.0001 per share, of which none were issued
and outstanding as of the date of this registration statement. The board of directors is authorized to provide for the issuance of these
unissued shares of preferred stock in one or more series, and to fix the number of shares and to determine the rights, preferences and
privileges thereof. Accordingly, the board of directors may issue preferred stock which may convert into large numbers of shares of Common
Stock and consequently lead to further dilution of other shareholders.


 


On
November 22, 2020, certain stockholders representing more than 50% of our outstanding share capital approved the elimination of the our
entire authorized class of fifty million (50,000,000) undesignated preferred stock, thereby reducing the total number of shares of capital
stock that we may issue from one billion five hundred fifty-thousand (1,550,000,000) shares to one billion five hundred thousand (1,500,000,000)
shares, all of which are designated as common stock (the “Certificate of Elimination”). The Certificate of Elimination will
be effective upon the filing with the Secretary of the State of Delaware, which was not completed as of the date of this annual report’s
filing.


 


Warrants
and Options


 


	 	●	options
                                                                              to purchase 45,511,888 shares of our Common Stock, at a weighted average exercise price of $0.05 per share; and

	 	●	warrants
to purchase 23,628,962 shares of our Common Stock, at a weighted average exercise price of $0.05 per share.



 




    	 



     


    

 


Convertible
Promissory Notes


 


In
the last three years, we issued convertible promissory notes in an aggregate principal amount of $1,700,000 in a series of convertible
loan agreements.


 


Anti-Takeover
Provisions


 


The
provisions of Delaware law, our Certificate of Incorporation and our Bylaws may have the effect of delaying, deferring or discouraging
another person from acquiring control of the Company. These provisions, which are summarized below, may have the effect of discouraging
takeover bids. They are also designed, in part, to encourage persons seeking to acquire control of us to negotiate first with our board
of directors. We believe that the benefits of increased protection of our potential ability to negotiate with an unfriendly or unsolicited
acquirer outweigh the disadvantages of discouraging a proposal to acquire us because negotiation of these proposals could result in an
improvement of their terms.


 


Amended
and Restated Certificate of Incorporation and Amended and Restated Bylaw Provisions


 


Our
amended and restated certificate of incorporation and our amended and restated bylaws include a number of provisions that could deter
hostile takeovers or delay or prevent changes in control of our management team, including the following:


 


	●	Board
    of directors’ vacancies. Our Certificate of Incorporation provides that vacancies on the board of directors may be filled
    only by the affirmative vote of a majority of the directors then in office, irrespective of whether there is a quorum, or by a sole
    remaining director. Additionally, the number of directors to serve on our board of directors is fixed solely and exclusively by resolution
    duly adopted by our board of directors. This would prevent a stockholder from increasing the size of our board of directors and then
    gaining control of our board of directors by filling the resulting vacancies with its own nominees. This makes it more difficult
    to change the composition of our board of directors but promotes continuity of management.
	 	 
	●	Special
    meetings of stockholders. Our Certificate of Incorporation currently provides that special meetings of our stockholders may be
    called by the board of directors acting pursuant to a resolution approved by the affirmative vote of a majority of the directors
    then in office, and special meetings of stockholders may not be called by any other person or persons.
	 	 
	●	No
    cumulative voting. The Delaware General Corporation Law provides that stockholders are not entitled to the right to cumulate
    votes in the election of directors unless a corporation’s certificate of incorporation provides otherwise. Our amended and
    restated certificate of incorporation does not provide for cumulative voting.
	 	 
	●	Amendment
    of charter provisions. Any amendment of our Certificate of Incorporation requires the affirmative vote of the majority of the
    outstanding shares of capital stock entitled to vote on such amendment, and the affirmative vote of the majority of the outstanding
    shares of each class entitled to vote thereon as a class. Amendments to the Bylaws may be executed pursuant to a resolution by the
    board of directors pursuant to an affirmative vote of a majority of the directors then in office, or by the affirmative vote of at
    least 75% of the outstanding shares of capital stock entitled to vote.


 


	●	Issuance
    of undesignated preferred stock. Our board of directors has the authority, without further action by the stockholders, to issue
    up to 50,000,000 shares of undesignated preferred stock with rights and preferences, including voting rights, designated from time
    to time by our board of directors. The existence of authorized but unissued shares of preferred stock, which may be converted into
    large numbers of shares of Common Stock, would enable our board of directors to render more difficult or to discourage an attempt
    to obtain control of us by means of a merger, tender offer, proxy contest or other means.


 


	●	Delaware
    Business Combination Statute. The Company is subject to the “business combination” provisions of Section 203 of the
    Delaware General Corporation Law. In general, Section 203 prohibits a publicly held Delaware corporation from engaging in a business
    combination with an interested stockholder for a period of three years following the date such person becomes an interested stockholder,
    unless the business combination or the transaction in which such person becomes an interested stockholder is approved in a prescribed
    manner. Generally, a “business combination” includes a merger, asset or stock sale, or other transaction resulting in
    a financial benefit to the interested stockholder. Generally, an “interested stockholder” is a person that, together
    with affiliates and associates, owns, or within three years prior to the determination of interested stockholder status did own,
    15% or more of a corporation’s voting stock. The existence of this provision may have an anti-takeover effect with respect
    to transactions not approved in advance by our board of directors, and the anti-takeover effect includes discouraging attempts that
    might result in a premium over the market price for the shares of our Common Stock.
	 	 
	●	Exclusive
    forum. Unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware
    is the sole and exclusive forum for (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim
    of breach of a fiduciary duty owed by any of our directors, officers or other employees to us or our stockholders, (iii) any action
    asserting a claim arising pursuant to any provision of the Delaware General Corporation Law, our amended and restated certificate
    of incorporation or our amended and restated bylaws, or (iv) any action asserting a claim against us governed by the internal affairs
    doctrine. This choice of forum provision may limit a stockholder’s ability to bring a claim in a judicial forum that it finds
    favorable for disputes with us or our directors, officers or other employees, which may discourage such lawsuits against us and our
    directors, officers and other employees.


 


Transfer
Agent and Registrar


 


The
transfer agent and registrar for our Common Stock is Worldwide Stock Transfer, LLC, with a mailing address of One University Plaza, Suite
505, Hackensack, NJ 07601, and a facsimile number of (201) 820-2010,


 


Listing


 


Our
Common Stock is quoted on the OTCQB under the symbol “CTGL.” We have applied to list our Common Stock on the Nasdaq Capital
Market. No assurance can be given that our application will be approved or that a trading market will develop.