Exhibit 10.35


 


THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS
WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR QUALIFIED UNDER
ANY STATE OR FOREIGN SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED
UNLESS (I) A REGISTRATION STATEMENT COVERING SUCH SHARES IS EFFECTIVE UNDER THE ACT AND IS QUALIFIED UNDER APPLICABLE STATE AND
FOREIGN LAW OR (II) THE TRANSACTION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS UNDER THE ACT AND THE
QUALIFICATION REQUIREMENTS UNDER APPLICABLE STATE AND FOREIGN LAW AND, IF THE CORPORATION REQUESTS, AN OPINION SATISFACTORY TO
THE CORPORATION TO SUCH EFFECT HAS BEEN RENDERED BY COUNSEL.


 


 


COMMON STOCK PURCHASE WARRANT


 


For the Purchase of 25,000 Shares of Common
Stock

of

EDISON NATION, INC.


 


1.                 
Purchase Warrant. THIS CERTIFIES THAT, in consideration of funds duly paid by or on behalf of Richard O’Leary
(“Holder”), as registered owner of this Purchase Warrant, to Edison Nation, Inc., a Nevada corporation (the
 “Company”), Holder is entitled, at any time or from time to time from the date hereof (the “Commencement
Date”), and at or before 5:00 p.m., Eastern time, December 31, 2020 (the “Expiration Date”),
but not thereafter, to subscribe for, purchase and receive, in whole or in part, up to 25,000 shares of common stock of
the Company, par value $0.001 per share (the “Shares”), subject to adjustment as provided in Section 5 hereof.
If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Warrant may be
exercised on the next succeeding day which is not such a day in accordance with the terms herein. During the period ending on the
Expiration Date, the Company agrees not to take any action that would terminate this Purchase Warrant. This Purchase Warrant is
exercisable at a fixed amount of $2.00 per Share; provided, however, that upon the occurrence of any of the
events specified in Section 5 hereof, the rights granted by this Purchase Warrant, including the exercise price per Share and the
number of Shares to be received upon such exercise, shall be adjusted as therein specified. The term “Exercise Price”
shall mean the initial exercise price or the adjusted exercise price, depending on the context.


 






     


     


    

 


2.                 
Exercise. In order to exercise this Purchase Warrant, the exercise form attached hereto must be duly executed
and completed and delivered to the Company, together with this Purchase Warrant and payment of the Exercise Price for the Shares
being purchased payable in cash by wire transfer of immediately available funds to an account designated by the Company or by certified
check or official bank check. If the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern
time, on the Expiration Date, this Purchase Warrant shall become and be void without further force or effect, and all rights represented
hereby shall cease and expire.


 


3.                 
Compliance
with the Securities Act.





 


3.1             
Agreement to Comply with the Securities Act; Legend. The Holder, by acceptance of this Warrant, agrees to comply
in all respects with the provisions of this Section 3 and the restrictive legend requirements set forth on the face of this Warrant
and further agrees that such Holder shall not offer, sell or otherwise dispose of this Warrant or any Warrant Shares to be issued
upon exercise hereof except under circumstances that will not result in a violation of the Securities Act of 1933, as amended (the
 "Securities Act"). This Warrant and all Warrant Shares issued upon exercise of this Warrant (unless registered
under the Securities Act) shall be stamped or imprinted with a legend in substantially the following form:


 


"THIS WARRANT AND THE SECURITIES ISSUABLE
UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"),
OR QUALIFIED UNDER ANY STATE OR FOREIGN SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE
TRANSFERRED OR ASSIGNED UNLESS (I) A REGISTRATION STATEMENT COVERING SUCH SHARES IS EFFECTIVE UNDER THE ACT AND IS QUALIFIED UNDER
APPLICABLE STATE AND FOREIGN LAW OR (II) THE TRANSACTION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS UNDER
THE ACT AND THE QUALIFICATION REQUIREMENTS UNDER APPLICABLE STATE AND FOREIGN LAW AND, IF THE CORPORATION REQUESTS, AN OPINION
SATISFACTORY TO THE CORPORATION TO SUCH EFFECT HAS BEEN RENDERED BY COUNSEL."


 


3.2             
Representations of the Holder. In connection with the issuance of this Warrant, the Holder specifically represents,
as of the date hereof, to the Company by acceptance of this Warrant as follows:


 


3.2.1       
The Holder is an "accredited investor" as defined in Rule 501(a) of Regulation D promulgated under the
Securities Act. The Holder is acquiring this Warrant and the Warrant Shares to be issued upon exercise hereof for investment for
its own account and not with a view towards, or for resale in connection with, the public sale or distribution of this Warrant
or the Warrant Shares, except pursuant to sales registered or exempted under the Securities Act.


 


3.2.2       
The Holder understands and acknowledges that this Warrant and the Warrant Shares to be issued upon exercise hereof
are "restricted securities" under the federal securities laws inasmuch as they are being acquired from the Company in
a transaction not involving a public offering and that, under such laws and applicable regulations, such securities may be resold
without registration under the Securities Act only in certain limited circumstances. In addition, the Holder represents that it
is familiar with Rule 144 under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby
and by the Securities Act.


 






     


     


    

 


3.2.3       
The Holder acknowledges that it can bear the economic and financial risk of its investment for an indefinite period,
and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of
the investment in the Warrant and the Warrant Shares. The Holder has had an opportunity to ask questions and receive answers from
the Company regarding the terms and conditions of the offering of the Warrant and the business, properties, prospects and financial
condition of the Company.


 


3.3             
General Terms.


 


3.3.1       
Indemnification. The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant
to any registration statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of
the Securities Act or Section 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably
incurred in investigating, preparing or defending against any claim whatsoever) to which any of them may become subject under the
Securities Act, the Exchange Act or otherwise, arising from such registration statement. The Holder(s) of the Registrable Securities
to be sold pursuant to such registration statement, and their successors and assigns, shall severally, and not jointly, indemnify
the Company and its affiliates, against all loss, claim, damage, expense or liability (including all reasonable attorneys’
fees and other expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they
may become subject under the Securities Act, the Exchange Act or otherwise, arising from information furnished by or on behalf
of such Holders, or their successors or assigns, in writing, for specific inclusion in such registration statement.


 


3.3.2       
Exercise of Purchase Warrants. Nothing contained in this Purchase Warrant shall be construed as requiring
the Holder(s) to exercise their Purchase Warrants prior to or after the initial filing of any registration statement or the effectiveness
thereof.


 


3.3.3       
Documents to be Delivered by Holder(s). Each of the Holder(s) participating in any of the foregoing offerings
shall furnish to the Company a completed and executed questionnaire provided by the Company requesting information customarily
sought of selling security holders.


 


3.3.4       
Damages. Should the registration or the effectiveness thereof required by Section 3.1 hereof be delayed by
the Company or the Company otherwise fails to comply with such provisions, the Holder(s) shall, in addition to any other legal
or other relief available to the Holder(s), be entitled to seek specific performance or other equitable (including injunctive)
relief against the threatened breach of such provisions or the continuation of any such breach, without the necessity of proving
actual damages and without the necessity of posting bond or other security.


 


4.                 
New Purchase Warrants to be Issued.


 


4.1             
Partial Exercise or Transfer. Subject to the restrictions in Section 2 hereof, this Purchase Warrant
may be exercised or assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender
of this Purchase Warrant for cancellation, together with the duly executed exercise or assignment form and funds sufficient to
pay any Exercise Price and/or transfer tax if exercised pursuant to Section 4.1 hereto, the Company shall cause to be delivered
to the Holder without charge a new Purchase Warrant of like tenor to this Purchase Warrant in the name of the Holder evidencing
the right of the Holder to purchase the number of Shares purchasable hereunder as to which this Purchase Warrant has not been exercised
or assigned.


 






     


     


    

 


4.2              Lost
Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation
of this Purchase Warrant and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute
and deliver a new Purchase Warrant of like tenor and date. Any such new Purchase Warrant executed and delivered as a result
of such loss, theft, mutilation or destruction shall constitute a substitute contractual obligation on the part of the
Company.


 


5.                 
Adjustments.


 


5.1             
Adjustments to Exercise Price and Number of Securities. The Exercise Price and the number of Shares
underlying the Purchase Warrant shall be subject to adjustment from time to time as hereinafter set forth:


 


5.1.1       
Share Dividends; Split Ups. If, after the date hereof, and subject to the provisions of Section 5.3 below,
the number of outstanding Shares is increased by a stock dividend payable in Shares or by a split up of Shares or other similar
event, then, on the effective day thereof, the number of Shares purchasable hereunder shall be increased in proportion to such
increase in outstanding Shares, and the Exercise Price shall be proportionately decreased.


 


5.1.2       
Aggregation of Shares. If, after the date hereof, and subject to the provisions of Section 5.3 below, the
number of outstanding Shares is decreased by a consolidation, combination or reclassification of Shares or other similar event,
then, on the effective date thereof, the number of Shares purchasable hereunder shall be decreased in proportion to such decrease
in outstanding Shares, and the Exercise Price shall be proportionately increased.


 


5.1.3       
Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the
outstanding Shares other than a change covered by Section 5.1.1 or 5.1.2 hereof or that solely affects the par value of such Shares,
or in the case of any share reconstruction or amalgamation or consolidation of the Company with or into another corporation or
other entity (other than a consolidation or share reconstruction or amalgamation in which the Company is the continuing corporation
and that does not result in any reclassification or reorganization of the outstanding Shares), or in the case of any sale or conveyance
to another corporation or entity of the property of the Company as an entirety or substantially as an entirety in connection with
which the Company is dissolved, the Holder of this Purchase Warrant shall have the right thereafter (until the expiration of the
right of exercise of this Purchase Warrant) to receive upon the exercise hereof, for the same aggregate Exercise Price payable
hereunder immediately prior to such event, the kind and amount of shares of stock or other securities or property (including cash)
receivable upon such reclassification, reorganization, share reconstruction or amalgamation, or consolidation, or upon a dissolution
following any such sale or transfer, by a Holder of the number of Shares of the Company obtainable upon exercise of this Purchase
Warrant immediately prior to such event; and if any reclassification also results in a change in Shares covered by Section 5.1.1
or 5.1.2, then such adjustment shall be made pursuant to Sections 5.1.1, 5.1.2 and this Section 5.1.3. The provisions of this Section
5.1.3 shall similarly apply to successive reclassifications, reorganizations, share reconstructions or amalgamations, or consolidations,
sales or other transfers.


 






     


     


    

 


5.1.4        Changes
in Form of Purchase Warrant. This form of Purchase Warrant need not be changed because of any change pursuant to this
Section 5.1, and Purchase Warrants issued after such change may state the same Exercise Price and the same number of Shares
as are stated in [the Purchase Warrants initially issued pursuant to this Agreement]. The acceptance by any Holder of the
issuance of new Purchase Warrants reflecting a required or permissive change shall not be deemed to waive any rights to an
adjustment occurring after the Commencement Date or the computation thereof.


 


5.2             
Substitute Purchase Warrant. In case of any consolidation of the Company with, or share reconstruction
or amalgamation of the Company with or into, another corporation or other entity (other than a consolidation or share reconstruction
or amalgamation which does not result in any reclassification or change of the outstanding Shares), the corporation or other entity
formed by such consolidation or share reconstruction or amalgamation shall execute and deliver to the Holder a supplemental Purchase
Warrant providing that the holder of each Purchase Warrant then outstanding or to be outstanding shall have the right thereafter
(until the stated expiration of such Purchase Warrant) to receive, upon exercise of such Purchase Warrant, the kind and amount
of shares of stock and other securities and property receivable upon such consolidation or share reconstruction or amalgamation,
by a holder of the number of Shares of the Company for which such Purchase Warrant might have been exercised immediately prior
to such consolidation, share reconstruction or amalgamation, sale or transfer. Such supplemental Purchase Warrant shall provide
for adjustments which shall be identical to the adjustments provided for in this Section 5. The above provision of this Section
shall similarly apply to successive consolidations or share reconstructions or amalgamations.


 


5.3             
Elimination of Fractional Interests. The Company shall not be required to issue certificates representing
fractions of Shares upon the exercise of the Purchase Warrant, nor shall it be required to issue scrip or pay cash in lieu of any
fractional interests, it being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction
up or down, as the case may be, to the nearest whole number of Shares or other securities, properties or rights.


 


6.                 
Reservation and Listing. The Company shall at all times keep available out of its authorized Shares, such
number of Shares or other securities, properties or rights as shall be issuable upon the exercise thereof. The Company covenants
and agrees that, upon exercise of the Purchase Warrants and payment of the Exercise Price therefor, in accordance with the terms
hereby, all Shares and other securities issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable
and not subject to preemptive rights of any shareholder. The Company further covenants and agrees that upon exercise of the Purchase
Warrants and payment of the exercise price therefor, all Shares and other securities issuable upon such exercise shall be duly
and validly issued, fully paid and non-assessable and not subject to preemptive rights of any shareholder. As long as the Purchase
Warrants shall be outstanding, the Company shall use its commercially reasonable efforts to cause all Shares issuable upon exercise
of the Purchase Warrants to be listed (subject to official notice of issuance) on all national securities exchanges (or, if applicable,
on the OTC Bulletin Board or any successor trading market) on which the Shares may then be listed and/or quoted.


 






     


     


    

 


7.                 
Certain Notice Requirements.


 


7.1              Holder’s
Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or
consent or to receive notice as a shareholder for the election of directors or any other matter, or as having any rights
whatsoever as a shareholder of the Company. If, however, at any time prior to the expiration of the Purchase Warrants and
their exercise, any of the events described in Section 7.2 shall occur, then, in one or more of said events, the Company
shall give written notice of such event at least fifteen (15) days prior to the date fixed as a record date or the date of
closing the transfer books for the determination of the shareholders entitled to such dividend, distribution, conversion or
exchange of securities or subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding up or
sale. Such notice shall specify such record date or the date of the closing of the transfer books, as the case may be.
Notwithstanding the foregoing, the Company shall deliver to each Holder a copy of each notice given to the other shareholders
of the Company at the same time and in the same manner that such notice is given to the shareholders.


 


7.2             
Events Requiring Notice. The Company shall be required to give the notice described in this Section
7 upon one or more of the following events: (i) if the Company shall take a record of the holders of its Shares for the purpose
of entitling them to receive a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable
otherwise than out of retained earnings, as indicated by the accounting treatment of such dividend or distribution on the books
of the Company, (ii) the Company shall offer to all the holders of its Shares any additional shares of capital stock of the Company
or securities convertible into or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe
therefor, or (iii) a dissolution, liquidation or winding up of the Company (other than in connection with a consolidation or share
reconstruction or amalgamation) or a sale of all or substantially all of its property, assets and business shall be proposed.


 


7.3             
Notice of Change in Exercise Price. The Company shall, promptly after an event requiring a change in
the Exercise Price pursuant to Section 5 hereof, send notice to the Holders of such event and change (“Price Notice”).
The Price Notice shall describe the event causing the change and the method of calculating same and shall be certified as being
true and accurate by the Company’s Chief Financial Officer.


 


7.4             
Transmittal of Notices. All notices, requests, consents and other communications under this Purchase
Warrant shall be in writing and shall be deemed to have been duly made when hand delivered, or mailed by express mail or private
courier service: (i) if to the registered Holder of the Purchase Warrant, to the address of such Holder as shown on the books of
the Company, or (ii) if to the Company, to following address or to such other address as the Company may designate by notice to
the Holders:


 


If to the Holder:


Richard O’Leary


Address:


2819 4th St.


Boulder, CO 80304


 


E-Mail:


Rich@oleary.net


 






     


     


    

 


	 	with a copy (which shall not constitute notice) to:
	 	 
	 	 
	 	If to the Company:
	 	 
	 	Edison Nation, Inc.
	 	909 New Brunswick Avenue
	 	Phillipsburg, New Jersey 08865
	 	Attention: Christopher B. Ferguson, Chief Executive Officer
	 	Email: cferguson@edisonnation.com
	 	 
	 	with a copy (which shall not constitute notice) to:




  


8.                 
Miscellaneous.


 


8.1             
Amendments. The Company and Rawleigh H. Ralls may from time to time supplement or amend this Purchase
Warrant without the approval of any of the Holders in order to cure any ambiguity, to correct or supplement any provision contained
herein that may be defective or inconsistent with any other provisions herein, or to make any other provisions in regard to matters
or questions arising hereunder that the Company and Rawleigh H. Ralls may deem necessary or desirable and that the Company and
Rawleigh H. Ralls deem shall not adversely affect the interest of the Holders. All other modifications or amendments shall require
the written consent of and be signed by the party against whom enforcement of the modification or amendment is sought.


 


8.2             
Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall
not in any way limit or affect the meaning or interpretation of any of the terms or provisions of this Purchase Warrant.


 


8.3             
Entire Agreement. This Purchase Warrant (together with the other agreements and documents being delivered
pursuant to or in connection with this Purchase Warrant) constitutes the entire agreement of the parties hereto with respect to
the subject matter hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect
to the subject matter hereof.


 


8.4             
Binding Effect. This Purchase Warrant shall inure solely to the benefit of and shall be binding upon,
the Holder and the Company and their permitted assignees, respective successors, legal representative and assigns, and no other
person shall have or be construed to have any legal or equitable right, remedy or claim under or in respect of or by virtue of
this Purchase Warrant or any provisions herein contained.


 






     


     


    

 


8.5              Governing
Law; Submission to Jurisdiction; Trial by Jury. This Purchase Warrant shall be governed by and construed and enforced
in accordance with the laws of the State of Nevada, without giving effect to conflict of laws principles thereof. The Company
hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Warrant
shall be brought and enforced in the any court in the State of Nevada, and irrevocably submits to such jurisdiction, which
jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts
represent an inconvenient forum. Any process or summons to be served upon the Company may be served by transmitting a copy
thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth
in Section 7 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any
action, proceeding or claim. The Company and the Holder agree that the prevailing party(ies) in any such action shall be
entitled to recover from the other party(ies) all of its reasonable attorneys’ fees and expenses relating to such
action or proceeding and/or incurred in connection with the preparation therefor. The Company (on its behalf and, to the
extent permitted by applicable law, on behalf of its stockholders and affiliates) and the Holder hereby irrevocably waive, to
the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or
relating to this Agreement or the transactions contemplated hereby.


 


8.6             
Waiver, etc. The failure of the Company or the Holder to at any time enforce any of the provisions
of this Purchase Warrant shall not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity
of this Purchase Warrant or any provision hereof or the right of the Company or any Holder to thereafter enforce each and every
provision of this Purchase Warrant. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this
Purchase Warrant shall be effective unless set forth in a written instrument executed by the party or parties against whom or which
enforcement of such waiver is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or
deemed to be a waiver of any other or subsequent breach, non-compliance or non-fulfillment.


 


8.7             
Execution in Counterparts. This Purchase Warrant may be executed in one or more counterparts, and by
the different parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken
together shall constitute one and the same agreement, and shall become effective when one or more counterparts has been signed
by each of the parties hereto and delivered to each of the other parties hereto. Such counterparts may be delivered by facsimile
transmission or other electronic transmission.


 


[Signature Page Follows]


 






     


     


    

 


IN WITNESS
WHEREOF, the Company has caused this Purchase Warrant to be signed by its duly authorized officer as of the 15th day of
January, 2020.


 


	 	EDISON NATION, INC.
	       	 
	 	By:	/s/ Chris Ferguson
	 	 	Name: 	CHRIS FERGUSON
	 	 	Title:	CEO




 






     


     


    

 


[Form to be used to exercise Purchase
Warrant]


 


Date: _______________, 20___


 


The undersigned hereby
elects irrevocably to exercise the Purchase Warrant for             shares of common stock, par value $0.001 per share (the “Shares”),
of Edison Nation, Inc., a Nevada corporation (the “Company”), and hereby makes payment of $               (at the
rate of $2.00per Share) in payment of the Exercise Price pursuant thereto. Please issue the Shares as to which this Purchase Warrant
is exercised in accordance with the instructions given below and, if applicable, a new Purchase Warrant representing the number
of Shares for which this Purchase Warrant has not been exercised.


 


The undersigned agrees
and acknowledges that the calculation set forth above is subject to confirmation by the Company and any disagreement with respect
to the calculation shall be resolved by the Company in its sole discretion.


 


Please issue the Shares
as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a new Purchase
Warrant representing the number of Shares for which this Purchase Warrant has not been converted.


  


Signature


 


	Signature Guaranteed