Exhibit 10.1


 


EQUITY PURCHASE AGREEMENT


 


THIS EQUITY
PURCHASE AGREEMENT (this “Agreement”) is entered into as of August 29, 2019 (the “Execution Date”),
by and between SPECTRUM GLOBAL SOLUTIONS, INC., a Nevada corporation (the “Company”), and Oasis Capital, LLC,
a Puerto Rico limited liability company (the “Investor”).


 


RECITALS


 


WHEREAS,
the parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to
the Investor, from time to time as provided herein, and the Investor shall purchase from the Company up to Two Million Five Hundred
Dollars ($2,500,000.00) of the Company’s Common Stock (as defined below);


 


NOW, THEREFORE,
in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the Company and the Investor hereby agree as follows:


 


ARTICLE I


CERTAIN DEFINITIONS


 


Section 1.1 RECITALS. The parties
acknowledge and agree that the recitals set forth above are true and correct and are hereby incorporated in and made a part
of this Agreement.


 


Section 1.2 DEFINED TERMS. As used
in this Agreement, the following terms shall have the following meanings specified or indicated (such meanings to be equally
applicable to both the singular and plural forms of the terms defined):


 


“Agreement” shall have the meaning
specified in the preamble hereof.


 


“Available
Amount” means, initially, the Maximum Commitment Amount, which amount shall be reduced by the Investment Amount following
each successful Closing, each time the Investor purchases shares of Common Stock pursuant to a Put.


 


“Average Daily
Trading Volume” shall mean the average trading volume of the Company’s Common Stock in the ten (10) Trading Days immediately
preceding the respective Put Date.


 


“Bankruptcy
Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.


 


“Claim Notice” shall have the meaning
specified in Section 9.3(a).


 


“Clearing Costs” shall mean all
of the Investor’s broker and Transfer Agent fees.


 


“Clearing
Date” shall be the date on which the Investor receives the Put Shares as DWAC Shares in its brokerage account.


 


“Closing”
shall mean one of the closings of a purchase and sale of shares of Common Stock pursuant to Section 2.3.


 


“Closing Certificate”
shall mean the closing “Officer’s Certificate” of the Company in the form of Exhibit B hereto.


 



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“Closing Date” shall mean the date of any Closing hereunder.


 


“Commitment
Period” shall mean the period commencing on the Execution Date, and ending on the earlier of (i) the date on which the
Investor shall have purchased Put Shares pursuant to this Agreement equal to the Maximum Commitment Amount, (ii) August 2, 2022,
or (iii) written notice of termination by the Company to the Investor (which shall not occur at any time that the Investor holds
any of the Put Shares).


 


“Commitment
Note” means $75,000 note issued August 29, 2019 the Company to the Investor pursuant to Section 6.5.


 


“Common
Stock” shall mean the Company’s common stock, $0.0001 par value per share, and any shares of any other class of common
stock whether now or hereafter authorized, having the right to participate in the distribution of dividends (as and when declared)
and assets (upon liquidation of the Company).


 


“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock.


 


“Company” shall have the meaning
specified in the preamble to this Agreement.


 


“Confidential
Information” means any information disclosed by either party to this Agreement, or their affiliates, agents or
representatives, to the other party to this Agreement, either directly or indirectly, in writing, orally or by inspection of
tangible objects (including, without limitation, documents, formulae, business information, trade secrets, technology,
strategies. prototypes, samples, plant and equipment), which may or may not be designated as “Confidential,”
“Proprietary” or some similar designation. Information communicated orally shall be considered Confidential
Information if such information is confirmed in writing as being Confidential Information within ten (10) Trading Days after
the initial disclosure. Confidential Information may also include information disclosed by third parties. Confidential
Information shall not, however, include any information which (i) was publicly known and made generally available in the
public domain prior to the time of disclosure by the disclosing party; (ii) becomes publicly known and made generally
available after disclosure by the disclosing party to the receiving party through no fault, action or inaction of the
receiving party; (iii) is already in the possession of the receiving party at the time of disclosure by the disclosing
party as shown by the receiving party’s files and records immediately prior to the time of disclosure; (iv) is obtained
by the receiving party from a third party without a breach of such third party’s obligations of confidentiality; (v) is
independently developed by the receiving party without use of or reference to the disclosing party’s Confidential
Information, as shown by documents and other competent evidence in the receiving party’s possession; or (vi) is
required by law to be disclosed by the receiving party, provided that the receiving party gives the disclosing party prompt
written notice of such requirement prior to such disclosure and assistance in obtaining an order protecting the information
from public disclosure.


 


“Current Report” shall have the meaning
set forth in Section 6.4.


 


“Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.


 


“Damages”
shall mean any loss, claim, damage, liability, cost and expense (including, without limitation, reasonable attorneys’ fees and
disbursements and costs and expenses of expert witnesses and investigation).


 



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“Dispute
Period” shall have the meaning specified in Section 9.3(a).


 


“Disqualification
Event” shall have the meaning specified in Section 4.27.


 


“DTC”
shall mean The Depository Trust Company, or any successor performing substantially the same function for the Company.


 


“DTC/FAST Program” shall mean the
DTC’s Fast Automated Securities Transfer Program.


 


“DWAC” shall mean Deposit Withdrawal at Custodian as defined
by the DTC.


 


“DWAC
Eligible” shall mean that (a) the Common Stock is eligible at DTC for full services pursuant to DTC’s operational arrangements,
including, without limitation, transfer through DTC’s DWAC system, (b) the Company has been approved (without revocation) by the
DTC’s underwriting department, (c) the Transfer Agent is approved as an agent in the DTC/FAST Program, (d) Put Shares, as applicable,
are otherwise eligible for delivery via DWAC, and (e) the Transfer Agent does not have a policy prohibiting or limiting delivery
of the Put Shares, as applicable, via DWAC.


 


“DWAC
Shares” means shares of Common Stock that are (i) issued in electronic form, (ii) freely tradable and transferable and
without restriction on resale and (iii) timely credited by the Company to the Investor’s or its designee’s specified DWAC account
with DTC under the DTC/FAST Program, or any similar program hereafter adopted by DTC performing substantially the same function.


 


“Environmental Laws” shall have
the meaning set forth in Section 4.14.


 


“Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.


 


“Execution Date” shall have the
meaning set forth in the preamble to this Agreement.


 


“FINRA” shall mean the Financial
Industry Regulatory Authority, Inc.


 


“Indemnified Party” shall have the
meaning specified in Section 9.2.


 


“Indemnifying Party” shall have
the meaning specified in Section 9.2.


 


“Indemnity Notice” shall have the
meaning specified in Section 9.3(b).


 


“Intellectual
Property” shall mean all trademarks, trademark applications, trade names, service marks, service mark registrations, service
names, patents, patent applications, patent rights, copyrights, inventions, licenses, approvals, government authorizations, trade
secrets or other intellectual property rights.


 


“Investment
Amount” shall mean the dollar value equal to the amount of Put Shares referenced in the Put Notice multiplied by the Purchase
Price minus the Clearing Costs.


 


“Investor” shall have the meaning
specified in the preamble to this Agreement.


 


“Issuer Covered Person” shall have the meaning specified in Section
4.27.


 


“Lien”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or any other restriction.


 



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“Market
Price” shall mean the one (1) lowest traded price of the Common Stock on the Principal Market for any Trading Day during
the Valuation Period, as reported by Bloomberg Finance L.P. or other reputable source.


 


“Material
Adverse Effect” shall mean any effect on the business, operations, properties, or financial condition of the Company and/or
the Subsidiaries that is material and adverse to the Company and/or the Subsidiaries and/or any condition, circumstance, or situation
that would prohibit or otherwise materially interfere with the ability of the Company and/or the Subsidiaries to enter into and/or
perform its obligations under any Transaction Document.


 


“Maximum Commitment
Amount” shall mean Two Million Five Hundred Dollars ($2,500,000.00).


 


“Maximum
Put Amount” shall mean that the lesser of (i) such amount that equals two hundred percent (200%) of the Average Daily
Trading Volume, and (ii) Two Hundred Fifty Thousand Dollars ($250,000.00).


 


“Person”
shall mean an individual, a corporation, a partnership, an association, a trust or other entity or organization, including a government
or political subdivision or an agency or instrumentality thereof.


 


“Principal
Market” shall mean any of the national exchanges (i.e. NYSE, NYSE AMEX, NASDAQ), or principal quotation systems (i.e.
OTCQX, OTCQB, OTC Pink, the OTC Bulletin Board), or other principal exchange or recognized quotation system which is at the time
the principal trading platform or market for the Common Stock.


 


“Purchase
Price” shall mean 85% of the Market Price on such date on which the Purchase Price is calculated in accordance with the
terms and conditions of this Agreement.


 


“Put”
shall mean the right of the Company to require the Investor to purchase shares of Common Stock, subject to the terms and conditions
of this Agreement.


 


“Put
Date” shall mean any Trading Day during the Commitment Period that a Put Notice is deemed delivered pursuant to Section
2.2(b).


 


“Put
Notice” shall mean a written notice, substantially in the form of Exhibit A hereto, addressed to the Investor and
setting forth the amount of Put Shares which the Company intends to require the Investor to purchase pursuant to the terms of this
Agreement.


 


“Put
Shares” shall mean all shares of Common Stock issued, or that the Company shall be entitled to issue, per any applicable
Put Notice in accordance with the terms and conditions of this Agreement.


 


“Registration Rights Agreement”
means that agreement in the form attached hereto as Exhibit D.


 


“Registration Statement” shall
have the meaning specified in Section 6.4.


 


“Regulation D” shall mean Regulation
D promulgated under the Securities Act.


 


“Required
Minimum” shall mean, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially
issuable in the future pursuant to the Transaction Documents.


  




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“Rule
144” shall mean Rule 144 promulgated under the Securities Act or any similar provision then in force under the Securities
Act.


 


“SEC” shall mean the United States
Securities and Exchange Commission.


 


“SEC Documents” shall have the
meaning specified in Section 4.5.


 


“Securities” means, collectively,
the Put Shares and the Commitment Note.


 


“Securities Act” shall mean the Securities Act of 1933, as amended.


 


“Short
Sales” shall mean all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act.


 


“Subsidiary”
or “Subsidiaries” means any Person the Company wholly-owns or controls, or in which the Company, directly or indirectly,
owns a majority of the voting stock or similar voting interest, in each case that would be disclosable pursuant to Item 601(b)(21)
of Regulation S-K promulgated under the Securities Act.


 


“Third Party Claim” shall have the
meaning specified in Section 9.3(a).


 


“Trading Day” shall mean a day on
which the Principal Market shall be open for business.


 


“Transaction
Documents” shall mean this Agreement, the Registration Rights Agreement and all schedules and exhibits hereto and thereto.


 


“Transfer
Agent” shall mean Corporate Stock Transfer, Inc, the current transfer agent of the Company, and any successor transfer
agent of the Company.


 


“Valuation
Period” shall mean the period of five (5) consecutive Trading Days immediately following the Clearing Date associated
with the applicable Put Notice during which the Purchase Price of the Common Stock is valued, provided, however, that the Valuation
Period shall instead begin on the Clearing Date if the respective Put Shares are received as DWAC Shares in Investor’s brokerage
account prior to 11:00 a.m. EST on the respective Clearing Date.


 


ARTICLE II


PURCHASE AND SALE OF COMMON
STOCK


 


Section 2.1 PUTS.
Upon the terms and conditions set forth herein (including, without limitation, the provisions of Article VII), the Company
shall have the right, but not the obligation, to direct the Investor, by its delivery to the Investor of a Put Notice from time
to time during the Commitment Period, to purchase Put Shares, provided that notwithstanding any other terms of this Agreement,
in each instance, (i) the Investment Amount is not more than the Maximum Put Amount and (ii) the aggregate Investment Amount of
all Puts shall not exceed the Maximum Commitment Amount.


 


Section 2.2 MECHANICS.


 


(a) PUT
NOTICE. At any time and from time to time during the Commitment Period, except as provided in this Agreement, the
Company may deliver a Put Notice to Investor, subject to satisfaction of the conditions set forth in Section 7.2 and
otherwise provided herein. The Company shall deliver, or cause to be delivered, the Put Shares as DWAC Shares to the Investor
within two (2) Trading Days following the Put Date.


 






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(b) DATE
OF DELIVERY OF PUT NOTICE. A Put Notice shall be deemed delivered on (i) the Trading Day it is received by e-mail by the
Investor if such notice is received on or prior to 8:30 a.m. EST or (ii) the immediately succeeding Trading Day if it is
received by e-mail after 8:30 a.m. EST on a Trading Day or at any time on a day which is not a Trading Day. The Company shall
not deliver another Put Notice to the Investor within ten (10) Trading Days of a prior Put Notice.


 


Section 2.3 CLOSINGS.


 


(a) TIMING.
The Closing of a Put shall occur within one (1) Trading Day following the end of the respective Valuation Period, whereby the
Investor shall deliver the Investment Amount by wire transfer of immediately available funds to an account designated by the Company.
In addition, on or prior to such Closing, each of the Company and the Investor shall deliver to each other all documents, instruments
and writings required to be delivered or reasonably requested by either of them pursuant to this Agreement in order to implement
and effect the transactions contemplated herein.


 


(b) RETURN
OF SURPLUS. If the value of the Put Shares delivered to the Investor causes the Company to exceed the Maximum Commitment Amount,
then the Investor shall return to the Company the surplus amount of Put Shares associated with such Put and the Purchase Price
with respect to such Put shall be reduced by any Clearing Costs related to the return of such Put Shares.


 


(c) RESALES
DURING VALUATION PERIOD. The parties acknowledge and agree that during the Valuation Period, the Investor may contract for,
or otherwise effect, the resale of the subject purchased Put Shares to third-parties.


 


ARTICLE III


REPRESENTATIONS AND WARRANTIES
OF INVESTOR


 


The Investor represents and warrants to the Company
that:


 


Section 3.1 INTENT.
The Investor is entering into this Agreement for its own account, and the Investor has no present arrangement (whether or not
legally binding) at any time to sell the Securities to or through any Person in violation of the Securities Act or any applicable
state securities laws; provided, however, that the Investor reserves the right to dispose of the Securities at any
time in accordance with federal and state securities laws applicable to such disposition.


 


Section 3.2 NO LEGAL ADVICE FROM THE
COMPANY. The Investor acknowledges that it has had the opportunity to review this Agreement and the transactions
contemplated by this Agreement with its own legal counsel and investment and tax advisors. Except with respect to the
representations, warranties and covenants contained in this Agreement, the Investor is relying solely on such counsel and
advisors and not on any statements or representations of the Company or any of its representatives or agents for legal, tax
or investment advice with respect to this investment, the transactions contemplated by this Agreement or the securities laws
of any jurisdiction.


 


Section 3.3 ACCREDITED INVESTOR.
The Investor is an accredited investor as defined in Rule 501(a)(3) of Regulation D, and the Investor has such experience in
business and financial matters that it is capable of evaluating the merits and risks of an investment in the Securities. The
Investor acknowledges that an investment in the Securities is speculative and involves a high degree of risk.


 



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Section 3.4 AUTHORITY. The Investor
has the requisite power and authority to enter into and perform its obligations under this Agreement and the other
Transaction Documents and to consummate the transactions contemplated hereby and thereby. The execution and delivery of this
Agreement and the other Transaction Documents and the consummation by it of the transactions contemplated hereby and thereby
have been duly authorized by all necessary action and no further consent or authorization of the Investor is required. Each
Transaction Document to which it is a party has been duly executed by the Investor, and when delivered by the Investor in
accordance with the terms hereof, will constitute the valid and binding obligation of the Investor enforceable against it in
accordance with its terms, subject to applicable bankruptcy, insolvency, or similar laws relating to, or affecting generally
the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.


 


Section 3.5 NOT AN AFFILIATE. To
the Investor’s knowledge, the Investor is not an officer, director or “affiliate” (as such term is defined
in Rule 405 of the Securities Act) of the Company.


 


Section 3.6 ORGANIZATION AND
STANDING. The Investor is an entity duly formed, validly existing and in good standing under the laws of the jurisdiction
of its formation with full right, limited liability company power and authority to enter into and to consummate the
transactions contemplated by this Agreement and the other Transaction Documents.


 


Section 3.7 ABSENCE OF CONFLICTS.
The execution and delivery of this Agreement and the other Transaction Documents, and the consummation of the transactions
contemplated hereby and thereby and compliance with the requirements hereof and thereof, will not (a) violate any law, rule,
regulation, order, writ, judgment, injunction, decree or award binding on the Investor, (b) violate any provision of any
indenture, instrument or agreement to which the Investor is a party or is subject, or by which the Investor or any of its
assets is bound, or conflict with or constitute a material default thereunder, (c) result in the creation or imposition of
any lien pursuant to the terms of any such indenture, instrument or agreement, or constitute a breach of any fiduciary duty
owed by the Investor to any third party, or (d) require the approval of any third-party (that has not been obtained) pursuant
to any material contract, instrument, agreement, relationship or legal obligation to which the Investor is subject or to
which any of its assets, operations or management may be subject.


 


Section 3.8 DISCLOSURE; ACCESS TO
INFORMATION. The Investor had an opportunity to review copies of the SEC Documents filed on behalf of the Company and has
had access to all publicly available information with respect to the Company; provided, however, that the Investor makes no
representation or warranty hereunder with respect to any SEC Document and is relying on the representations and warranties of
the Company in Article IV with respect to the SEC Documents.


 


Section 3.9 MANNER OF SALE. At no
time was the Investor presented with or solicited by or through any leaflet, public promotional meeting, television
advertisement or any other form of general solicitation or advertisement regarding the Securities.


 


ARTICLE IV


REPRESENTATIONS AND WARRANTIES
OF THE COMPANY


 


The Company
represents and warrants to the Investor that, except as set forth in the disclosure schedules hereto that as of the Execution Date
and at each Closing Date:


 


Section
4.1 ORGANIZATION OF THE COMPANY. The Company is a corporation duly incorporated, validly existing and in good
standing under the laws of the state of Nevada, with the requisite power and authority to own and use its properties and
assets and to carry on its business as currently conducted. Each of the Subsidiaries is an entity duly incorporated or
otherwise organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or
organization, with the requisite power and authority to own and use its properties and assets and to carry on its business as
currently conducted. Each of the Company and the Subsidiaries is not in violation or default of any of the provisions of its
respective certificate or articles of incorporation, bylaws or other organizational or charter documents. Each of the Company
and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation or other entity
in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification
necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably
be expected to result in a Material Adverse Effect and no proceeding has been instituted in any such jurisdiction revoking,
limiting or curtailing or seeking to revoke, limit or curtail such power and authority or qualification.


 






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Section 4.2 AUTHORITY. The Company
has the requisite corporate power and authority to enter into and perform its obligations under this Agreement and the other
Transaction Documents. The execution and delivery of this Agreement and the other Transaction Documents by the Company and
the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary
corporate action and no further consent or authorization of the Company or its Board of Directors or stockholders is
required. Each of this Agreement and the other Transaction Documents has been duly executed and delivered by the Company and
constitutes a valid and binding obligation of the Company enforceable against the Company in accordance with its terms,
except as such enforceability may be limited by applicable bankruptcy, insolvency, or similar laws relating to, or affecting
generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general
application.


 


Section 4.3 CAPITALIZATION. As of
the Execution Date, the authorized capital stock of the Company consists of (a) 750,000,000 shares of Common Stock, par value
of $0.0001 per share, of which approximately 34,085,501 shares of Common Stock are issued and outstanding,(b) 8,000,000
shares of series A preferred stock, of which 899,427 shares of series A preferred stock are issued and outstanding and (c)
1,000 shares of series B preferred stock, of which 1,000 shares of series B preferred stock are issued and outstanding.
Except as set forth on Schedule 4.3, the Company has not issued any capital stock since its most recently filed
periodic report under the Exchange Act, other than pursuant to the exercise of employee stock options under the
Company’s stock option plans, the issuance of shares of Common Stock to employees pursuant to the Company’s
employee stock purchase plans and pursuant to the conversion and/or exercise of Common Stock Equivalents outstanding as of
the date of the most recently filed periodic report under the Exchange Act. No Person has any right of first refusal,
preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the
Transaction Documents. Except as set forth on Schedule 4.3, and except as a result of the purchase and sale of the
Securities, there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving
any Person any right to subscribe for or acquire any shares of Common Stock, or contracts, commitments, understandings or
arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock or
Common Stock Equivalents. The issuance and sale of the Securities will not obligate the Company to issue shares of Common
Stock or other securities to any Person (other than the Investor) and will not result in a right of any holder of Company
securities to adjust the exercise, conversion, exchange or reset price under any of such securities. There are no
stockholders agreements, voting agreements or other similar agreements with respect to the Company’s capital stock to
which the Company is a party or, to the knowledge of the Company, between or among any of the Company’s
stockholders.


 


Section
4.4 LISTING AND MAINTENANCE REQUIREMENTS. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the
Exchange Act, and the Company has taken no action designed to, or which to its knowledge is likely to have the effect of,
terminating the registration of the Common Stock under the Exchange Act, nor has the Company received any notification that
the SEC is contemplating terminating such registration. The Company has not, in the twelve (12) months preceding the
Execution Date, received notice from the Principal Market on which the Common Stock is or has been listed or quoted to the
effect that the Company is not in compliance with the listing or maintenance requirements of such Principal Market. The
Company is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance with all
such listing and maintenance requirements.


 






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Section 4.5 SEC DOCUMENTS;
DISCLOSURE. Except as set forth on Schedule 4.5, the Company has filed all reports, schedules, forms, statements
and other documents required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to
Section 13(a) or 15(d) thereof, for the one (1) year preceding the Execution Date (or such shorter period as the Company was
required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents
incorporated by reference therein, being collectively referred to herein as the “SEC Documents”) on a
timely basis or has received a valid extension of such time of filing and has filed any such SEC Documents prior to the
expiration of any such extension. As of their respective dates, the SEC Documents complied in all material respects with the
requirements of the Securities Act and the Exchange Act, as applicable, and other federal laws, rules and regulations
applicable to such SEC Documents, and none of the SEC Documents when filed contained any untrue statement of a material fact
or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in
light of the circumstances under which they were made, not misleading. The financial statements of the Company included in
the SEC Documents comply as to form and substance in all material respects with applicable accounting requirements and the
published rules and regulations of the SEC or other applicable rules and regulations with respect thereto. Such financial
statements have been prepared in accordance with generally accepted accounting principles applied on a consistent basis
during the periods involved (except (a) as may be otherwise indicated in such financial statements or the notes thereto or
(b) in the case of unaudited interim statements, to the extent they may not include footnotes or may be condensed or summary
statements) and fairly present in all material respects the financial position of the Company as of the dates thereof and the
results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to
normal, immaterial, year-end audit adjustments). The Company maintains a system of internal accounting controls appropriate
for its size. There is no transaction, arrangement, or other relationship between the Company and an unconsolidated or other
off balance sheet entity that is not disclosed by the Company in its financial statements or otherwise that would be
reasonably likely to have a Material Adverse Effect. Except with respect to the material terms and conditions of the
transactions contemplated by the Transaction Documents, the Company confirms that neither it nor any other Person acting on
its behalf has provided the Investor or its agents or counsel with any information that it believes constitutes or might
constitute material, non-public information. The Company understands and confirms that the Investor will rely on the
foregoing representation in effecting transactions in securities of the Company.


 


Section 4.6 VALID ISSUANCES. The
Securities are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents, will be
validly issued, fully paid, and non-assessable, free and clear of all Liens imposed by the Company, other than restrictions
on transfer provided for in the Transaction Documents and under the Securities Act.


 


Section
4.7 NO CONFLICTS. The execution, delivery and performance of this Agreement and the other Transaction Documents
by the Company, and the consummation by the Company of the transactions contemplated hereby and thereby, including, without
limitation, the issuance of the Put Shares and the Commitment Note, do not and will not: (a) result in a violation of the
Company’s or any Subsidiary’s certificate or articles of incorporation, by-laws or other organizational or
charter documents, (b) conflict with, or constitute a material default (or an event that with notice or lapse of time or both
would become a material default) under, result in the creation of any Lien upon any of the properties or assets of the
Company or any Subsidiary, or give to others any rights of termination, amendment, acceleration or cancellation of, any
agreement, indenture, instrument or any “lock-up” or similar provision of any underwriting or similar agreement
to which the Company or any Subsidiary is a party, or (c) result in a violation of any federal, state or local law, rule,
regulation, order, judgment or decree (including federal and state securities laws and regulations) applicable to the Company
or any Subsidiary or by which any property or asset of the Company or any Subsidiary is bound or affected (except for such
conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually or in
the aggregate, have a Material Adverse Effect), nor is the Company otherwise in violation of, conflict with or in
default under any of the foregoing. The business of the Company is not being conducted in violation of any law, ordinance or
regulation of any governmental entity, except for possible violations that either singly or in the aggregate do not and will
not have a Material Adverse Effect. The Company is not required under federal, state or local law, rule or regulation to
obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in
order for it to execute, deliver or perform any of its obligations under this Agreement or the other Transaction Documents
(other than any SEC, FINRA or state securities filings that may be required to be made by the Company in connection with the
issuance of the Commitment Note or subsequent to any Closing or any registration statement that may be filed pursuant
hereto); provided that, for purposes of the representation made in this sentence, the Company is assuming and relying upon
the accuracy of the relevant representations and agreements of Investor herein.


 






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Section 4.8 NO MATERIAL ADVERSE
CHANGE. No event has occurred that would have a Material Adverse Effect on the Company or any Subsidiary that has not
been disclosed in subsequent SEC filings.


 


Section 4.9 LITIGATION AND OTHER
PROCEEDINGS. Except as set forth on Schedule 4.9, there are no actions, suits, investigations, inquiries or
proceedings pending or, to the knowledge of the Company, threatened against or affecting the Company, any Subsidiary or any
of their respective properties, nor has the Company received any written or oral notice of any such action, suit, proceeding,
inquiry or investigation, which would have a Material Adverse Effect or would require disclosure under the Securities Act or
the Exchange Act. No judgment, order, writ, injunction or decree or award has been issued by or, to the knowledge of the
Company, requested of any court, arbitrator or governmental agency which would have a Material Adverse Effect. There has not
been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by the SEC involving the
Company, any Subsidiary, or any current or former director or officer of the Company or any Subsidiary.


 


Section
4.10 REGISTRATION RIGHTS. Except as set forth on Schedule 4.10, no Person (other than the Investor) has any right
to cause the Company to effect the registration under the Securities Act of any securities of the Company or any Subsidiary.


 


Section
4.11 INVESTOR’S STATUS. The Company acknowledges and agrees that the Investor is acting solely in the capacity of arm’s
length purchaser with respect to the Transaction Documents and the transactions contemplated hereby and thereby. The Company further
acknowledges that the Investor is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with
respect to the Transaction Documents and the transactions contemplated hereby and thereby and any advice given by the Investor
or any of its representatives or agents in connection with the Transaction Documents and the transactions contemplated hereby and
thereby is merely incidental to the Investor’s purchase of the Securities. The Company further represents to the Investor that
the Company’s decision to enter into the Transaction Documents has been based solely on the independent evaluation by the Company
and its representatives and advisors.


 


Section
4.12 NO GENERAL SOLICITATION; NO INTEGRATED OFFERING. Neither the Company, any Subsidiary, nor any of their
respective affiliates, nor any Person acting on their behalf, has engaged in any form of general solicitation or general
advertising (within the meaning of Regulation D under the Securities Act) in connection with the offer or sale of the
Securities. Neither the Company, any Subsidiary, nor any of their respective affiliates, nor any Person acting on their
behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security,
under circumstances that would require registration of the offer and sale of any of the Securities under the Securities Act,
whether through integration with prior offerings or otherwise, or cause this offering of the Securities to be integrated with
prior offerings by the Company in a manner that would require stockholder approval pursuant to the rules of the Principal
Market on which any of the securities of the Company are listed or designated. The issuance and sale of the Securities
hereunder does not contravene the rules and regulations of the Principal Market.


 






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Section
4.13 INTELLECTUAL PROPERTY RIGHTS. The Company and each Subsidiary own or possess adequate rights or licenses to use all
material trademarks, trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights,
inventions, licenses, approvals, governmental authorizations, trade secrets and rights necessary to conduct their respective businesses
as now conducted. None of the Company’s, nor any Subsidiary’s material Intellectual Property has expired or terminated, or, by
the terms and conditions thereof, could expire or terminate within two years from the date of this Agreement. The Company does
not have any knowledge of any infringement by the Company and/or any Subsidiary of any material Intellectual Property of others,
or of any such development of similar or identical trade secrets or technical information by others, and there is no claim, action
or proceeding being made or brought against, or to the Company’s knowledge, being threatened against, the Company and/or any Subsidiary
regarding the infringement of any Intellectual Property, which could reasonably be expected to have a Material Adverse Effect.


 


Section
4.14 ENVIRONMENTAL LAWS. To the Company’s knowledge, the Company and each Subsidiary (i) is in compliance with any and all
applicable foreign, federal, state and local laws and regulations relating to the protection of human health and safety, the environment
or hazardous or toxic substances or wastes, pollutants or contaminants (“Environmental Laws”), (ii) has received
all permits, licenses or other approvals required of it under applicable Environmental Laws to conduct its respective businesses
and (iii) is in compliance with all terms and conditions of any such permit, license or approval, except where, in each of the
three foregoing clauses, the failure to so comply could not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect.


 


Section
4.15 TITLE. Except as disclosed in the SEC Documents, the Company and each Subsidiary has good and marketable title in fee
simple to all real property owned by it and good and marketable title in all personal property owned by it that is material to
the business of the Company and each Subsidiary, in each case free and clear of all Liens and, except for Liens as do not materially
affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by
the Company or any Subsidiary and Liens for the payment of federal, state or other taxes, the payment of which is neither delinquent
nor subject to penalties. Any real property and facilities held under lease by the Company or any Subsidiary is held under valid,
subsisting and enforceable leases with which the Company is in compliance with such exceptions as are not material and do not interfere
with the use made and proposed to be made of such property and buildings by the Company or any Subsidiary.


 


Section
4.16 INSURANCE. The Company and each Subsidiary is insured by insurers of recognized financial responsibility against
such losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses
in which the Company and each Subsidiary is engaged. Neither the Company, nor any Subsidiary has been refused any insurance
coverage sought or applied for, and the Company has no reason to believe that it or any Subsidiary will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may
be necessary to continue its business at a cost that would not materially and adversely affect the condition, financial or
otherwise, or the earnings, business or operations of the Company, taken as a whole.


 






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Section
4.17 REGULATORY PERMITS. The Company and each Subsidiary possesses all material certificates, authorizations and permits
issued by the appropriate federal, state or foreign regulatory authorities necessary to conduct its businesses, and neither the
Company, nor any Subsidiary has received any notice of proceedings relating to the revocation or modification of any such certificate,
authorization or permit.


 


Section
4.18 TAX STATUS. The Company and each Subsidiary has made or filed all federal and state income and all other material tax
returns, reports and declarations required by any jurisdiction to which it is subject (unless and only to the extent that the Company
has set aside on its books provisions reasonably adequate for the payment of all unpaid and unreported taxes) and has paid all
taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns,
reports and declarations, except those being contested in good faith and has set aside on its books provision reasonably adequate
for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There
are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the
Company know of no basis for any such claim.


 


Section
4.19 TRANSACTIONS WITH AFFILIATES. Except as set forth in the SEC Documents, none of the officers or directors of the Company
or any Subsidiary, and to the knowledge of the Company, none of the employees of the Company or any Subsidiary is presently a party
to any transaction with the Company or any Subsidiary (other than for services as employees, officers and directors), including
any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or
personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge
of the Company, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director,
trustee or partner, in each case in excess of the lesser of (i) $100,000 or (ii) one percent of the average of the Company’s total
assets at year end for the last two completed fiscal years, other than for (i) payment of salary or consulting fees for services
rendered, (ii) reimbursement for expenses incurred on behalf of the Company or any Subsidiary and (iii) other employee benefits,
including stock option agreements under any stock option plan of the Company.


 


Section
4.20 APPLICATION OF TAKEOVER PROTECTIONS. The Company and its board of directors have taken or will take prior to the Execution
Date all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison
pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the articles of incorporation
or the laws of the state of its incorporation which is or could become applicable to the Investor as a result of the transactions
contemplated by this Agreement, including, without limitation, the Company’s issuance of the Securities and the Investor’s ownership
of the Securities.


 


Section
4.21 FOREIGN CORRUPT PRACTICES. Neither the Company, any Subsidiary, nor to the knowledge of the Company, any agent or other
Person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful contributions,
gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment
to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate
funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any Person acting on its
behalf of which the Company is aware) which is in violation of law, or (iv) violated in any material respect any provision of the
Foreign Corrupt Practices Act of 1977, as amended.


 



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Section 4.22 SARBANES-OXLEY.
The Company is in compliance with all provisions of the Sarbanes-Oxley Act of 2002, as amended, which are applicable to it.


 


Section 4.23 CERTAIN
FEES. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker, financial advisor
or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by
the Transaction Documents. The Investor shall have no obligation with respect to any fees or with respect to any claims made by
or on behalf of other Persons for fees of a type contemplated in this Section 4.22 that may be due in connection with the
transactions contemplated by the Transaction Documents.


 


Section 4.24 INVESTMENT
COMPANY. The Company is not an “investment company” within the meaning of the Investment Company Act of 1940, as
amended.


 


Section 4.25 ACCOUNTANTS.
The Company’s accountants are set forth in the SEC Documents and, to the knowledge of the Company, such accountants are an
independent registered public accounting firm as required by the Securities Act.


 


Section 4.26 NO
MARKET MANIPULATION. Neither the Company, nor any Subsidiary has, and to its knowledge no Person acting on either of their
behalf has, (i) taken, directly or indirectly, any action designed to cause or to result in the stabilization or manipulation of
the price of any security of the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased,
or, paid any compensation for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any
compensation for soliciting another to purchase any other securities of the Company.


 


Section 4.27 NO
DISQUALIFICATION EVENTS. None of the Company, any Subsidiary, any of their predecessors, any affiliated issuer, any director,
executive officer, other officer of the Company or any Subsidiary participating in the offering contemplated hereby, any beneficial
owner of 20% or more of the Company’s outstanding voting equity securities, calculated on the basis of voting power, nor
any promoter (as that term is defined in Rule 405 under the Securities Act) connected with the Company in any capacity at the time
of sale (each, an “Issuer Covered Person”) is subject to any of the “Bad Actor” disqualifications
described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”), except for a
Disqualification Event covered by Rule 506(d)(2) or (d)(3) under the Securities Act. The Company has exercised reasonable care
to determine whether any Issuer Covered Person is subject to a Disqualification Event.


 


Section 4.28 MONEY
LAUNDERING. The Company and each Subsidiary is in compliance with, and has not previously violated, the USA PATRIOT ACT of
2001 and all other applicable U.S. and non-U.S. anti-money laundering laws and regulations, including, but not limited to, the
laws, regulations and Executive Orders and sanctions programs administered by the U.S. Office of Foreign Assets Control, including,
but not limited, to (i) Executive Order 13224 of September 23, 2001 entitled, “Blocking Property and Prohibiting Transactions
With Persons Who Commit, Threaten to Commit, or Support Terrorism” (66 Fed. Reg. 49079 (2001)); and (ii) any regulations
contained in 31 CFR, Subtitle B, Chapter V.


 


Section 4.29 ILLEGAL OR UNAUTHORIZED
PAYMENTS; POLITICAL CONTRIBUTIONS. Neither the Company, nor any Subsidiary has, nor, to the best of the Company’s knowledge
(after reasonable inquiry of its officers and directors), any of the officers, directors, employees, agents or other representatives
of the Company, any Subsidiary or any other business entity or enterprise with which the Company is or has been affiliated or associated,
has, directly or indirectly, made or authorized any payment, contribution or gift of money, property, or services, whether or not
in contravention of applicable law, (a) as a kickback or bribe to any Person or (b) to any political organization, or the holder
of or any aspirant to any elective or appointive public office except for personal political contributions not involving the direct
or indirect use of funds of the Company.


 




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Section 4.30 SHELL COMPANY STATUS.
The Company is not currently an issuer identified in Rule 144(i)(1)(i) under the Securities Act, is subject to the reporting requirements
of Section 13 or 15(d) of the Exchange Act, has filed all reports and other materials required to be filed by Section 13 or 15(d)
of the Exchange Act, as applicable during the preceding 12 months, and, as of a date at least one year prior to the Execution Date,
has filed current “Form 10 information” with the SEC (as defined in Rule 144(i)(3) of the Securities Act) reflecting
its status as an entity that is no longer an issuer described in Rule 144(i)(1)(i) of the Securities Act.


 


Section 4.31 ABSENCE
OF SCHEDULES. In the event that on the Execution Date, the Company does not deliver any disclosure schedule contemplated by
this Agreement, the Company hereby acknowledges and agrees that (i) each such undelivered disclosure schedule shall be deemed to
read as follows: “Nothing to Disclose”, and (ii) the Investor has not otherwise waived delivery of such disclosure
schedule.


 


ARTICLE V


COVENANTS OF INVESTOR


 


Section 5.1 COMPLIANCE WITH LAW;
TRADING IN SECURITIES. The Investor’s trading activities with respect to shares of Common Stock will be in compliance
with all applicable state and federal securities laws and regulations and the rules and regulations of FINRA and the Principal
Market.


 


Section 5.2 SHORT SALES AND CONFIDENTIALITY.
Neither the Investor, nor any affiliate of the Investor acting on its behalf or pursuant to any understanding with it, will execute
any Short Sales during the period from the Execution Date to the end of the Commitment Period. For the purposes hereof, and in
accordance with Regulation SHO, the sale after delivery of a Put Notice of such number of shares of Common Stock reasonably expected
to be purchased under a Put Notice shall not be deemed a Short Sale. The Investor shall, until such time as the transactions contemplated
by this Agreement are publicly disclosed by the Company in accordance with the terms of this Agreement, maintain the confidentiality
of the existence and terms of this transaction and the information included in the Transaction Documents. The Investor agrees not
to disclose any Confidential Information of the Company to any third party, except for attorneys, accountants, advisors who have
a need to know such Confidential Information and are bound by confidentiality, and shall not use any Confidential Information for
any purpose other than in connection with, or in furtherance of, the transactions contemplated hereby. The Investor acknowledges
that the Confidential Information of the Company shall remain the property of the Company and agrees that it shall take all reasonable
measures to protect the secrecy of any Confidential Information disclosed by the Company.


 


ARTICLE VI


COVENANTS OF THE COMPANY


 


Section 6.1 REMOVED AND RESERVED.


 


Section
6.2 LISTING OF COMMON STOCK. The Company shall promptly secure the listing of all of the Put Shares to be issued to
the Investor hereunder on the Principal Market (subject to official notice of issuance) and shall use commercially reasonable
best efforts to maintain, so long as any shares of Common Stock shall be so listed, the listing of all such Put Shares from
time to time issuable hereunder. The Company shall use its commercially reasonable efforts to continue the listing and
trading of the Common Stock on the Principal Market (including, without limitation, maintaining sufficient net tangible
assets) and will comply in all respects with the Company’s reporting, filing and other obligations under the bylaws or
rules of FINRA and the Principal Market. The Company shall not take any action that would reasonably be expected to result in
the delisting or suspension of the Common Stock on the Principal Market. The Company shall promptly, and in no event later
than the following Trading Day, provide to the Investor copies of any notices it receives from any Person regarding the
continued eligibility of the Common Stock for listing on the Principal Market. The Company shall pay all fees and expenses in
connection with satisfying its obligations under this Section 6.2). The Company shall take all action necessary to
ensure that its Common Stock can be transferred electronically as DWAC Shares.


 




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Section 6.3 OTHER EQUITY LINES.
So long as this Agreement remains in effect, the Company covenants and agrees that it will not, without the prior written consent
of the Investor, enter into any other equity line of credit agreement with any other party, without the Investor’s prior
written consent, which consent may be granted or withheld in the Investor’s sole and absolute discretion.


 


Section 6.4 FILING
OF CURRENT REPORT AND REGISTRATION STATEMENT. The Company agrees that it shall file a Current Report on Form 8-K, including
the Transaction Documents as exhibits thereto, with the SEC within the time required by the Exchange Act, relating to the transactions
contemplated by, and describing the material terms and conditions of, the Transaction Documents (the “Current Report”).
The Company shall permit the Investor to review and comment upon the final pre-filing draft version of the Current Report at least
two (2) Trading Days prior to its filing with the SEC, and the Company shall give reasonable consideration to all such comments.
The Investor shall use its reasonable best efforts to comment upon the final pre-filing draft version of the Current Report within
one (1) Trading Day from the date the Investor receives it from the Company. Pursuant to the terms of the Registration Rights Agreement,
the Company shall also file with the SEC, on or before the twenty-eighth (28th) day following the Execution Date, a new registration
statement on Form S-1 (the “Registration Statement”) covering only the resale of the Put Shares.


 


Section 6.5 ISSUANCE OF COMMITMENT
NOTE. In consideration for the Investor’s execution and delivery of, and performance under this Agreement, the Company
shall cause the Transfer Agent to issue the Commitment Note to the Investor on the Execution Date. For the avoidance of doubt,
the Commitment Note shall be fully earned as of the Execution Date, and the issuance of the Commitment Note is not contingent upon
any other event or condition, including, without limitation, the effectiveness of the Registration Statement or the Company’s
submission of a Put Notice to the Investor and irrespective of any termination of this Agreement.


 


Section 6.6 DUE
DILIGENCE; CONFIDENTIALITY; NON-PUBLIC INFORMATION. The Investor shall have the right, from time to time as the Investor may
reasonably deem appropriate, to perform reasonable due diligence on the Company during normal business hours. The Company, each
Subsidiary and their respective officers and employees shall provide information and reasonably cooperate with the Investor in
connection with any reasonable request by the Investor related to the Investor’s due diligence of the Company. The Company
agrees not to disclose any Confidential Information of the Investor to any third party, except for attorneys, accountants, advisors
who have a need to know such Confidential Information and are bound by confidentiality, and shall not use any Confidential Information
for any purpose other than in connection with, or in furtherance of, the transactions contemplated hereby. The Company acknowledges
that the Confidential Information of the Investor shall remain the property of the Investor and agrees that it shall take all reasonable
measures to protect the secrecy of any Confidential Information disclosed by the Investor. The Company confirms that neither it
nor any other Person acting on its behalf shall provide the Investor or its agents or counsel with any information that constitutes
or might constitute material, non-public information, unless a simultaneous public announcement thereof is made by the Company
in the manner contemplated by Regulation FD. In the event of a breach of the foregoing covenant by the Company or any Person acting
on its behalf (as determined in the reasonable good faith judgment of the Investor), in addition to any other remedy provided herein
or in the other Transaction Documents, the Investor shall have the right to make a public disclosure, in the form of a press release,
public advertisement or otherwise, of such material, non-public information without the prior approval by the Company; provided
the Investor shall have first provided notice to the Company that it believes it has received information that constitutes material,
non-public information, and the Company shall have had at least twenty-four (24) hours to publicly disclose such material, non-public
information prior to any such disclosure by the Investor, and the Company shall have failed to publicly disclose such material,
non-public information within such time period. The Investor shall not have any liability to the Company, any Subsidiary, or any
of their respective directors, officers, employees, stockholders, affiliates or agents, for any such disclosure. The Company understands
and confirms that the Investor shall be relying on the foregoing covenants in effecting transactions in securities of the Company.


 




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Section 6.7 PURCHASE RECORDS.
The Company shall maintain records showing the Available Amount at any given time and the date, Investment Amount and Put Shares
for each Put, contained in the applicable Put Notice.


 


Section 6.8 TAXES. The Company
shall pay any and all transfer, stamp or similar taxes that may be payable with respect to the issuance and delivery of any shares
of Common Stock to the Investor made under this Agreement.


 


Section 6.9 USE OF PROCEEDS. The Company will
use the net proceeds from the offering of Put Shares hereunder in the manner described in the Registration Statement or the SEC
Documents.


 


Section 6.10 OTHER
TRANSACTIONS. The Company shall not enter into, announce or recommend to its stockholders any agreement, plan, arrangement
or transaction in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability or right
of the Company to perform its obligations under the Transaction Documents, including, without limitation, the obligation of the
Company to deliver the Put Shares and the Commitment Note to the Investor in accordance with the terms of the Transaction Documents.


 


Section 6.11 INTEGRATION. In
any case subject to the terms of the Registration Rights Agreement, from and after the Execution Date, neither the Company, nor
or any of its affiliates will, and the Company shall use its reasonable best efforts to ensure that no Person acting on their behalf
will, directly or indirectly, make any offers or sales of any security or solicit any offers to buy any security, under circumstances
that would require registration of the offer and sale of any of the Securities under the Securities Act.


 


Section 6.12 KEY
PERSON. If at any time during the Commitment Period either of the Company’s CEO or CFO as of the Execution Date, resigns
or is otherwise removed from office (except for cases of death or disability), then a liquidated damages charge of $25,000.00 will
be assessed, in each case, and will become immediately due and payable to the Buyer in the form of cash payment. The liquidated
damages charge in this Section 6.12 shall be in addition to, and not in substitution of, any of the other rights of the
Investor under this Agreement.


 


Section 6.13 TRANSACTION
DOCUMENTS. On the Execution Date, the Company shall deliver to the Investor executed copies of all of the Transaction Documents.


 






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ARTICLE VII


CONDITIONS TO DELIVERY OF PUT NOTICES
AND CONDITIONS TO CLOSING


  


Section
7.1 CONDITIONS PRECEDENT TO THE RIGHT OF THE COMPANY TO ISSUE AND SELL PUT SHARES. The right of the Company to issue and
sell the Put Shares to the Investor is subject to the satisfaction of each of the conditions set forth below:


 


(a) ACCURACY
OF INVESTOR’S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Investor shall be true and correct
in all material respects as of the Execution Date and as of the date of each Closing as though made at each such time.


 


(b) PERFORMANCE
BY INVESTOR. Investor shall have performed, satisfied and complied in all respects with all covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by the Investor at or prior to such Closing.


 


(c) REGISTRATION
STATEMENT. The Company shall not have the right to issue any Put Shares if the Registration Statement, and any amendment or
supplement thereto, shall fail to be and remain effective for the resale by the Investor of the Put Shares.


 


Section
7.2 CONDITIONS PRECEDENT TO THE OBLIGATION OF INVESTOR TO PURCHASE PUT SHARES. The obligation of the Investor hereunder
to purchase Put Shares is subject to the satisfaction of each of the following conditions:


 


(a) REGISTRATION
STATEMENT. The Registration Statement, and any amendment or supplement thereto, shall be and remain effective for the resale
by the Investor of the Put Shares and (i) neither the Company nor the Investor shall have received notice that the SEC has issued
or intends to issue a stop order with respect to such Registration Statement or that the SEC otherwise has suspended or withdrawn
the effectiveness of such Registration Statement, either temporarily or permanently, or intends or has threatened to do so and
(ii) no other suspension of the use of, or withdrawal of the effectiveness of, such Registration Statement or related prospectus
shall exist. The Company shall have prepared and filed with the SEC a final and complete prospectus (the preliminary form of which
shall be included in the Registration Statement) and shall have delivered to the Investor a true and complete copy thereof. Such
prospectus shall be current and available for the resale by the Investor of all of the Securities covered thereby.


 


(b) ACCURACY
OF THE COMPANY’S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Company shall be true and
correct in all material respects as of the Execution Date and as of the date of each Closing (except for representations and warranties
under the first sentence of Section 4.3, which are specifically made as of the Execution Date and shall be true and correct
in all respects as of the Execution Date).


 


(c) PERFORMANCE
BY THE COMPANY. The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements
and conditions required by this Agreement to be performed, satisfied or complied with by the Company.


 


(d) NO
INJUNCTION. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or adopted by any court or governmental authority of competent jurisdiction that prohibits or directly and materially adversely
affects any of the transactions contemplated by the Transaction Documents, and no proceeding shall have been commenced that may
have the effect of prohibiting or materially adversely affecting any of the transactions contemplated by the Transaction Documents.


 


(e) ADVERSE
CHANGES. Since the date of filing of the Company’s most recent SEC Document, no event that had or is reasonably likely
to have a Material Adverse Effect has occurred.


 




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(f)
NO
SUSPENSION OF TRADING IN OR DELISTING OF COMMON STOCK. The trading of the Common Stock shall not have been suspended by the
SEC, the Principal Market or FINRA, or otherwise halted for any reason, and the Common Stock shall have been approved for listing
or quotation on and shall not have been delisted from the Principal Market. In the event of a suspension, delisting, or halting
for any reason, of the trading of the Common Stock, as contemplated by this Section 7.2(f), the Investor shall have the
right to return to the Company any remaining amount of Put Shares associated with such Put, and the Purchase Price with respect
to such Put shall be reduced accordingly.


 


(g) BENEFICIAL
OWNERSHIP LIMITATION. The number of Put Shares to be purchased by the Investor shall not exceed the number of such shares that,
when aggregated with all other shares of Common Stock then owned by the Investor beneficially or deemed beneficially owned by the
Investor, would result in the Investor owning more than the Beneficial Ownership Limitation (as defined below), as determined in
accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder. For purposes of this Section 7.2(g),
in the event that the amount of Common Stock outstanding, as determined in accordance with Section 16 of the Exchange Act and the
regulations promulgated thereunder, is greater on a Closing Date than on the date upon which the Put Notice associated with such
Closing Date is given, the amount of Common Stock outstanding on such Closing Date shall govern for purposes of determining whether
the Investor, when aggregating all purchases of Common Stock made pursuant to this Agreement, would own more than the Beneficial
Ownership Limitation following such Closing Date. The “Beneficial Ownership Limitation” shall be 9.99% of the
number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable
pursuant to a Put Notice.


 


(h) NO KNOWLEDGE.
The Company shall have no knowledge of any event more likely than not to have the effect of causing the Registration Statement
to be suspended or otherwise ineffective (which event is more likely than not to occur within the fifteen (15) Trading Days following
the Trading Day on which such Put Notice is deemed delivered). The Company shall have no knowledge of any untrue statement (or
alleged untrue statement) of a material fact or omission (or alleged omission) of a material fact required to be stated therein
or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, in the Registration
Statement, any effective registration statement filed pursuant to the Registration Rights Agreement or any post-effective amendment
or prospectus which is a part of the foregoing, unless the Company has filed an amendment with the SEC or taken such other.


 


(i) NO VIOLATION
OF SHAREHOLDER APPROVAL REQUIREMENT. The issuance of the Put Shares shall not violate the shareholder approval requirements
of the Principal Market.


 


(j) OFFICER’S
CERTIFICATE. On the date of delivery of each Put Notice, the Investor shall have received the Closing Certificate executed
by an executive officer of the Company and to the effect that all the conditions to such Closing shall have been satisfied as of
the date of each such certificate.


 


(k) DWAC ELIGIBLE.
The Common Stock must be DWAC Eligible and not subject to a “DTC chill.”


 


(1) SEC DOCUMENTS. All reports,
schedules, registrations, forms, statements, information and other documents required to have been filed by the Company with the
SEC pursuant to the reporting requirements of the Exchange Act (other than Forms 8-K) shall have been filed with the SEC within
the applicable time periods prescribed for such filings under the Exchange Act.


 


(m) REMOVED AND RESERVED.


 




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(n)
REMOVED
AND RESERVED.


 


(o) MINIMUM
PRICING. The lowest traded price of the Common Stock in the five (5) Trading Days immediately preceding the respective Put
Date must exceed $0.005 per share.


 


(p) NO VIOLATION. No statute,
regulation, order, guidance, decree, writ, ruling or injunction shall have been enacted, entered, promulgated, threatened or endorsed
by any federal, state, local or foreign court or governmental authority of competent jurisdiction, including, without limitation,
the SEC, which prohibits the consummation of or which would materially modify or delay any of the transactions contemplated by
the Transaction Documents.


 


(q) LEGAL
OPINION. The Company shall cause to be delivered to the Investor a written opinion of counsel satisfactory to the Investor,
in form and substance satisfactory to the Investor and its counsel, relating to the availability and effectiveness of the Registration
Statement, as supplemented by any prospectus supplement or amendment thereto, and regarding the Company’s compliance with
the Nevada Statutes and the federal securities laws of the United States in the issuance, sale and registration of the Put Shares.


 


ARTICLE VIII

LEGENDS


 


Section 8.1 NO RESTRICTIVE STOCK LEGEND. No restrictive stock
legend shall be placed on the share certificates representing the Put Shares.


 


Section 8.2 INVESTOR’S
COMPLIANCE. Nothing in this Article VIII shall affect in any way the Investor’s obligations hereunder to comply
with all applicable securities laws upon the sale of the Common Stock.


 


ARTICLE IX


NOTICES; INDEMNIFICATION


 


Section 9.1 NOTICES.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in
writing and, unless otherwise specified herein, shall be (a) personally served, (b) deposited in the mail, registered or
certified, return receipt requested, postage prepaid, (c) delivered by reputable air courier service with charges prepaid, or
(d) transmitted by hand delivery, telegram, or e-mail as a PDF, addressed as set forth below or to such other address as such
party shall have specified most recently by written notice given in accordance herewith. Any notice or other communication
required or permitted to be given hereunder shall be deemed effective (i) upon hand delivery or delivery by e-mail at the
address designated below (if delivered on a business day during normal business hours where such notice is to be received),
or the first business day following such delivery (if delivered other than on a business day during normal business hours
where such notice is to be received) or (ii) on the second business day following the date of mailing by express courier
service or on the fifth business day after deposited in the mail, in each case, fully prepaid, addressed to such address, or
upon actual receipt of such mailing, whichever shall first occur.


 






    - 19 -


     


    

 


The addresses for such communications
shall be:


 


If to the Company:


 


SPECTRUM GLOBAL SOLUTIONS, INC.


300 Crown Oak Centre Drive


Longwood, FL 32750


Email:


Attention: Roger Ponder, CEO


 


If to the Investor:


 


Oasis Capital, LLC


208 Ponce de Leon Ave, Suite 1600


San Juan, PR 00918


E-mail: adam@oasis-cap.com


Attention: Adam Long, Managing Partner


 


with a copy to (that shall not constitute notice)


 


K&L Gates LLP


200 S. Biscayne Blvd., Suite 3900


Miami, FL 33131


E-mail: john. owens@klgates.com 

Attention: John D.
Owens, III, Esq.


 


Either party hereto may from time to
time change its address or e-mail for notices under this Section 9.1 by giving at least ten (10) days’ prior written
notice of such changed address to the other party hereto.


 


Section
9.2 INDEMNIFICATION. Each party hereto (an “Indemnifying Party”) agrees to indemnify and hold harmless
the other party along with its officers, directors, employees, and authorized agents and representatives, and each Person or entity,
if any, who controls such party within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act or the
rules and regulations thereunder (an “Indemnified Party”) from and against any and all Damages, joint or several,
and any and all actions in respect thereof to which the Indemnified Party becomes subject to, resulting from, arising out of or
relating to (i) any misrepresentation, breach of warranty or nonfulfillment of or failure to perform any covenant or agreement
on the part of the Indemnifying Party contained in this Agreement, (ii) any untrue statement or alleged untrue statement of a
material fact contained in the Registration Statement, any registration statement pursuant to the Registration Rights Agreement
or any post-effective amendment thereof or supplement thereto, or the omission or alleged omission therefrom of a material fact
required to be stated therein or necessary to make the statements therein not misleading, (iii) any untrue statement or alleged
untrue statement of a material fact contained in any preliminary prospectus or contained in the final prospectus (as amended or
supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission
to state therein any material fact necessary to make the statements made therein, in the light of the circumstances under which
the statements therein were made, not misleading, or (iv) any violation or alleged violation by the Company of the Securities
Act, the Exchange Act, any state securities law or any rule or regulation under the Securities Act, the Exchange Act or any state
securities law, as such Damages are incurred, except to the extent such Damages result primarily from the Indemnified Party’s
failure to perform any covenant or agreement contained in this Agreement or the Indemnified Party’s negligence, recklessness,
fraud, willful misconduct or bad faith in performing its obligations under this Agreement; provided, however, that
the foregoing indemnity agreement shall not apply to any Damages of an Indemnified Party to the extent, but only to the extent,
arising out of or based upon any untrue statement or alleged untrue statement or omission or alleged omission made by an Indemnifying
Party in reliance upon and in conformity with written information furnished to the Indemnifying Party by the Indemnified Party
expressly for use in the Registration Statement, any post-effective amendment thereof or supplement thereto, or any preliminary
prospectus or final prospectus (as amended or supplemented).


 




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Section 9.3 METHOD OF ASSERTING INDEMNIFICATION CLAIMS.
All claims for indemnification by any Indemnified Party under Section 9.1 shall be asserted and resolved as follows:


 


(a) In the event any
claim or demand in respect of which an Indemnified Party might seek indemnity under Section 9.2 is asserted against or
sought to be collected from such Indemnified Party by a Person other than a party hereto or an affiliate thereof (a “Third
Party Claim”), the Indemnified Party shall deliver a written notification, enclosing a copy of all papers served, if
any, and specifying the nature of and basis for such Third Party Claim and for the Indemnified Party’s claim for indemnification
that is being asserted under any provision of Section 9.2 against an Indemnifying Party, together with the amount or, if
not then reasonably ascertainable, the estimated amount, determined in good faith, of such Third Party Claim (a “Claim
Notice”) with reasonable promptness to the Indemnifying Party. If the Indemnified Party fails to provide the Claim Notice
with reasonable promptness after the Indemnified Party receives notice of such Third Party Claim, the Indemnifying Party shall
not be obligated to indemnify the Indemnified Party with respect to such Third Party Claim to the extent that the Indemnifying
Party’s ability to defend has been prejudiced by such failure of the Indemnified Party. The Indemnifying Party shall notify
the Indemnified Party as soon as practicable within the period ending thirty (30) calendar days following receipt by the Indemnifying
Party of either a Claim Notice or an Indemnity Notice (as defined below) (the “Dispute Period”) whether the
Indemnifying Party disputes its liability or the amount of its liability to the Indemnified Party under Section 9.2 and
whether the Indemnifying Party desires, at its sole cost and expense, to defend the Indemnified Party against such Third Party
Claim.


 


(i) If the Indemnifying
Party notifies the Indemnified Party within the Dispute Period that the Indemnifying Party desires to defend the Indemnified Party
with respect to the Third Party Claim pursuant to this Section 9.3(a), then the Indemnifying Party shall have the right
to defend, with counsel reasonably satisfactory to the Indemnified Party, at the sole cost and expense of the Indemnifying Party,
such Third Party Claim by all appropriate proceedings, which proceedings shall be vigorously and diligently prosecuted by the Indemnifying
Party to a final conclusion or will be settled at the discretion of the Indemnifying Party (but only with the consent of the Indemnified
Party in the case of any settlement that provides for any relief other than the payment of monetary damages or that provides for
the payment of monetary damages as to which the Indemnified Party shall not be indemnified in full pursuant to Section 9.1).
The Indemnifying Party shall have full control of such defense and proceedings, including any compromise or settlement thereof;
provided, however, that the Indemnified Party may, at the sole cost and expense of the Indemnified Party, at any
time prior to the Indemnifying Party’s delivery of the notice referred to in the first sentence of this clause (i), file
any motion, answer or other pleadings or take any other action that the Indemnified Party reasonably believes to be necessary or
appropriate to protect its interests; and provided, further, that if requested by the Indemnifying Party, the Indemnified
Party will, at the sole cost and expense of the Indemnifying Party, provide reasonable cooperation to the Indemnifying Party in
contesting any Third Party Claim that the Indemnifying Party elects to contest. The Indemnified Party may participate in, but not
control, any defense or settlement of any Third Party Claim controlled by the Indemnifying Party pursuant to this clause (i), and
except as provided in the preceding sentence, the Indemnified Party shall bear its own costs and expenses with respect to such
participation. Notwithstanding the foregoing, the Indemnified Party may takeover the control of the defense or settlement of a
Third Party Claim at any time if it irrevocably waives its right to indemnity under Section 9.1 with respect to such
Third Party Claim.


 




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(ii) If the
Indemnifying Party fails to notify the Indemnified Party within the Dispute Period that the Indemnifying Party desires to
defend the Third Party Claim pursuant to this Section 9.3(a), or if the Indemnifying Party gives such notice but fails
to prosecute vigorously and diligently or settle the Third Party Claim, or if the Indemnifying Party fails to give any notice
whatsoever within the Dispute Period, then the Indemnified Party shall have the right to defend, at the sole cost and expense
of the Indemnifying Party, the Third Party Claim by all appropriate proceedings, which proceedings shall be prosecuted by the
Indemnified Party in a reasonable manner and in good faith or will be settled at the discretion of the Indemnified Party
(with the consent of the Indemnifying Party, which consent will not be unreasonably withheld). The Indemnified Party will
have full control of such defense and proceedings, including any compromise or settlement thereof; provided, however, that if
requested by the Indemnified Party, the Indemnifying Party will, at the sole cost and expense of the Indemnifying Party,
provide reasonable cooperation to the Indemnified Party and its counsel in contesting any Third Party Claim which the
Indemnified Party is contesting. Notwithstanding the foregoing provisions of this clause (ii), if the Indemnifying Party has
notified the Indemnified Party within the Dispute Period that the Indemnifying Party disputes its liability or the amount of
its liability hereunder to the Indemnified Party with respect to such Third Party Claim and if such dispute is resolved in
favor of the Indemnifying Party in the manner provided in clause (iii) below, the Indemnifying Party will not be required to
bear the costs and expenses of the Indemnified Party’s defense pursuant to this clause (ii) or of the Indemnifying
Party’s participation therein at the Indemnified Party’s request, and the Indemnified Party shall reimburse the
Indemnifying Party in full for all reasonable costs and expenses incurred by the Indemnifying Party in connection with such
litigation. The Indemnifying Party may participate in, but not control, any defense or settlement controlled by the
Indemnified Party pursuant to this clause (ii), and the Indemnifying Party shall bear its own costs and expenses with respect
to such participation.


 


(iii) If the Indemnifying
Party notifies the Indemnified Party that it does not dispute its liability or the amount of its liability to the Indemnified
Party with respect to the Third Party Claim under Section 9.1 or fails to notify the Indemnified Party within the Dispute
Period whether the Indemnifying Party disputes its liability or the amount of its liability to the Indemnified Party with respect
to such Third Party Claim, the amount of Damages specified in the Claim Notice shall be conclusively deemed a liability of the
Indemnifying Party under Section 9.1 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified
Party on demand. If the Indemnifying Party has timely disputed its liability or the amount of its liability with respect to such
Third Party Claim, the Indemnifying Party and the Indemnified Party shall proceed in good faith to negotiate a resolution of such
dispute; provided, however, that if the dispute is not resolved within thirty (30) days after the Claim Notice, the
Indemnifying Party shall be entitled to institute such legal action as it deems appropriate.


 


(b) In the event any Indemnified Party
should have a claim under Section 9.1 against the Indemnifying Party that does not involve a Third Party Claim, the Indemnified
Party shall deliver a written notification of a claim for indemnity under Section 9.1 specifying the nature of and basis
for such claim, together with the amount or, if not then reasonably ascertainable, the estimated amount, determined in good faith,
of such claim (an “Indemnity Notice”) with reasonable promptness to the Indemnifying Party. The failure by any
Indemnified Party to give the Indemnity Notice shall not impair such party’s rights hereunder except to the extent that the
Indemnifying Party demonstrates that it has been irreparably prejudiced thereby. If the Indemnifying Party notifies the Indemnified
Party that it does not dispute the claim or the amount of the claim described in such Indemnity Notice or fails to notify the Indemnified
Party within the Dispute Period whether the Indemnifying Party disputes the claim or the amount of the claim described in such
Indemnity Notice, the amount of Damages specified in the Indemnity Notice will be conclusively deemed a liability of the Indemnifying
Party under Section 9.1 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified Party on demand.
If the Indemnifying Party has timely disputed its liability or the amount of its liability with respect to such claim, the Indemnifying
Party and the Indemnified Party shall proceed in good faith to negotiate a resolution of such dispute; provided, however, that
if the dispute is not resolved within thirty (30) days after the Claim Notice, the Indemnifying Party shall be entitled to institute
such legal action as it deems appropriate.


 




    - 22 -


     


    

 


(c) The Indemnifying
Party agrees to pay the Indemnified Party, promptly as such expenses are incurred and are due and payable, for any reasonable legal
fees or other reasonable expenses incurred by them in connection with investigating or defending any such Claim.


 


(d) The indemnity
provisions contained herein shall be in addition to (i) any cause of action or similar rights of the Indemnified Party against
the Indemnifying Party or others, and (ii) any liabilities the Indemnifying Party may be subject to.


 


ARTICLE X


MISCELLANEOUS


 


Section 10.1 GOVERNING
LAW. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Kansas without regard
to the principles of conflicts of law (whether of the State of Kansas or any other jurisdiction).


 


Section 10.2 ARBITRATION.
Any disputes, claims, or controversies arising out of or relating to the Transaction Documents, or the transactions, contemplated
thereby, or the breach, termination, enforcement, interpretation or validity thereof, including the determination of the scope
or applicability of this Agreement to arbitrate, shall be referred to and resolved solely and exclusively by binding arbitration
to be conducted before the Judicial Arbitration and Mediation Service (“JAMS”), or its successor pursuant the
expedited procedures set forth in the JAMS Comprehensive Arbitration Rules and Procedures (the “Rules”), including
Rules 16.1 and 16.2 of those Rules. The arbitration shall be held in New York, New York, before a tribunal consisting of three
(3) arbitrators each of whom will be selected in accordance with the “strike and rank” methodology set forth in Rule
15. Either party to this Agreement may, without waiving any remedy under this Agreement, seek from any federal or state court sitting
in the State of Kansas any interim or provisional relief that is necessary to protect the rights or property of that party, pending
the establishment of the arbitral tribunal. The costs and expenses of such arbitration shall be paid by and be the sole responsibility
of the Company, including but not limited to the Investor’s attorneys’ fees and each arbitrator’s fees. The arbitrators’
decision must set forth a reasoned basis for any award of damages or finding of liability. The arbitrators’ decision and
award will be made and delivered as soon as reasonably possibly and in any case within sixty (60) days’ following the conclusion
of the arbitration hearing and shall be final and binding on the parties and may be entered by any court having jurisdiction thereof.


 


Section 10.3 JURY
TRIAL WAIVER. THE COMPANY AND THE INVESTOR HEREBY WAIVE A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT
BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THE TRANSACTION
DOCUMENTS.


 


Section 10.4 ASSIGNMENT.
This Agreement shall be binding upon and inure to the benefit of the Company and the Investor and their respective successors.
Neither this Agreement nor any rights of the Investor or the Company hereunder may be assigned by either party to any other Person.


 


Section 10.5 NO
THIRD PARTY BENEFICIARIES. This Agreement is intended for the benefit of the Company and the Investor and their respective
successors, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as set forth in
Article IX.


 


Section 10.6 TERMINATION.
The Company may terminate this Agreement at any time by written notice to the Investor, except while the Investor holds any of
the Put Shares. In addition, this Agreement shall automatically terminate on the earlier of (i) the end of the Commitment Period;
(ii) the date that the Company sells and the Investor purchases the Maximum Commitment Amount; or (iii) the date in which the
Registration Statement is no longer effective, or (iv) the date that, pursuant to or within the meaning of any Bankruptcy Law,
the Company commences a voluntary case or any Person commences a proceeding against the Company, a Custodian is appointed for
the Company or for all or substantially all of its property or the Company makes a general assignment for the benefit of its creditors;
provided, however, that the provisions of Articles III, IV, V, VI, IX and the agreements and covenants
of the Company and the Investor set forth in Article X shall survive the termination of this Agreement for the maximum
length of time allowed under applicable law.


 




    - 23 -


     


    

 


Section 10.7 ENTIRE
AGREEMENT. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding of
the Company and the Investor with respect to the matters covered herein and therein and supersede all prior agreements and understandings,
oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and
schedules.


 


Section 10.8 FEES
AND EXPENSES. Except as expressly set forth in the Transaction Documents or any other writing to the contrary, each party shall
pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such
party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all
Transfer Agent fees, stamp taxes and other taxes and duties levied in connection with the delivery of any Securities to the Investor.


 


Section 10.9 COUNTERPARTS.
This Agreement may be executed in multiple counterparts, each of which may be executed by less than all of the parties and shall
be deemed to be an original instrument which shall be enforceable against the parties actually executing such counterparts and
all of which together shall constitute one and the same instrument. This Agreement may be delivered to the other parties hereto
by e-mail of a copy of this Agreement bearing the signature of the parties so delivering this Agreement.


 


Section 10.10 SEVERABILITY.
In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said provision; provided that such severability shall be
ineffective if it materially changes the economic benefit of this Agreement to any party.


 


Section 10.11 FURTHER
ASSURANCES. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.


 


Section 10.12 NO
STRICT CONSTRUCTION. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.


 


Section 10.13 EQUITABLE
RELIEF. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Investor
by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy
at law for a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened
breach by the Company of the provisions of this Agreement, that the Investor shall be entitled, in addition to all other available
remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining,
preventing or curing any breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity
of showing economic loss and without any bond or other security being required.


 




    - 24 -


     


    

 


Section 10.14 TITLE
AND SUBTITLES. The titles and subtitles used in this Agreement are used for the convenience of reference and are not to be
considered in construing or interpreting this Agreement.


 


Section 10.15 AMENDMENTS;
WAIVERS. No provision of this Agreement may be amended or waived by the parties from and after the date that is one (1) Trading
Day immediately preceding the initial filing of the Registration Statement with the SEC. Subject to the immediately preceding sentence,
(i) no provision of this Agreement may be amended other than by a written instrument signed by both parties hereto and (ii) no
provision of this Agreement may be waived other than in a written instrument signed by the party against whom enforcement of such
waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof,
nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of
any other right, power or privilege.


 


Section 10.16 PUBLICITY.
The Company and the Investor shall consult with each other in issuing any press releases or otherwise making public statements
with respect to the transactions contemplated hereby and no party shall issue any such press release or otherwise make any such
public statement, other than as required by law, without the prior written consent of the other parties, which consent shall not
be unreasonably withheld or delayed, except that no prior consent shall be required if such disclosure is required by law, in which
such case the disclosing party shall provide the other party with prior notice of such public statement. Notwithstanding the foregoing,
the Company shall not publicly disclose the name of the Investor without the prior written consent of the Investor, except to the
extent required by law. The Investor acknowledges that this Agreement and all or part of the Transaction Documents may be deemed
to be “material contracts,” as that term is defined by Item 601(b)(10) of Regulation S-K, and that the Company may
therefore be required to file such documents as exhibits to reports or registration statements filed under the Securities Act or
the Exchange Act. The Investor further agrees that the status of such documents and materials as material contracts shall be determined
solely by the Company, in consultation with its counsel.


 


** Signature Page Follows **


 






    - 25 -


     


    

 


IN WITNESS WHEREOF,
the parties have caused this Agreement to be duly executed by their respective officers thereunto duly authorized as of the Execution
Date.


 


	 	SPECTRUM GLOBAL SOLUTIONS, INC.
	 	 
	 	By:  	/s/ Roger Ponder
	 	Name:	Roger Ponder
	 	Title:	Chief Executive Officer 
	 	 	 
	 	OASIS CAPITAL, LLC
	 	 	 
	 	By:	 
	 	Name: 	Adam Long
	 	Title: 	Managing Partner




 


** Signature
Page to Equity Purchase Agreement **


 




     


     


    


 


EXHIBIT
A


 


FORM OF PUT NOTICE


 


TO: OASIS CAPITAL, LLC


DATE:___________________


 





We refer to the
Equity Purchase Agreement, dated August 29, 2019 (the “Agreement”), entered into by and between SPECTRUM
GLOBAL SOLUTIONS, INC. and you. Capitalized terms defined in the Agreement shall, unless otherwise defined herein, have the
same meaning when used herein.


 


We hereby:


 


		1)	Give you notice that we require you to purchase_______________Put
Shares; and



 


		2)	The purchase price per share, pursuant to the terms of
the Agreement, is_______________; and



 


		3)	Certify that, as of the date hereof, the conditions set
forth in Section 7.2 of the Agreement are satisfied.



 


	 	SPECTRUM GLOBAL SOLUTIONS, INC.
	 	 
	 	By:	
	 	Name:	Roger Ponder
	 	Title:	Chief Executive Officer




 




     


     


    


 


EXHIBIT
B


 


FORM
OF OFFICER’S CERTIFICATE


OF
SPECTRUM GLOBAL SOLUTIONS, INC.


  

Pursuant to Section
7.2(k) of that certain equity purchase agreement, dated August 29, 2019 (the “Agreement”), by and between
SPECTRUM GLOBAL SOLUTIONS, INC. (the “Company”) and Oasis Capital, LLC (the “Investor”),
the undersigned, in his capacity as Chief Executive Officer of the Company, and not in his individual capacity, hereby certifies,
as of the date hereof (such date, the “Condition Satisfaction Date”), the following:


 


1.
The representations and warranties of the Company are true and correct in all material respects as of the Condition Satisfaction
Date as though made on the Condition Satisfaction Date (except for representations and warranties specifically made as of a particular
date) with respect to all periods, and as to all events and circumstances occurring or existing to and including the Condition
Satisfaction Date, except for any conditions which have temporarily caused any representations or warranties of the Company set
forth in the Agreement to be incorrect and which have been corrected with no continuing impairment to the Company or the Investor;
and


 


2.
All of the conditions precedent to the obligation of the Investor to purchase Put Shares set forth in the Agreement, including
but not limited to Section 7.2 of the Agreement, have been satisfied as of the Condition Satisfaction Date.


 


Capitalized terms used herein
shall have the meanings set forth in the Agreement unless otherwise defined herein.


 


IN
WITNESS WHEREOF, the undersigned has hereunto affixed his hand as of August 29, 2019.


 


	 	By:	/s/ Roger
    Ponder
	 	Name:	Roger Ponder
	 	Title:	Chief Executive Officer


 



     


     


    

 


EXHIBIT
C


 


FORM OF TRANSFER
AGENT


INSTRUCTION LETTER


 


 


 


 


 


 


 


 


 


 


 


 


 







     


     


    





  


EXHIBIT
D


 


FORM OF REGISTRATION
RIGHTS AGREEMENT


 


 


 


 


 


 


 


 


 


 


 


 


 


 







     


     


    


 


DISCLOSURE
SCHEDULES