# EDGAR Filing Document

**Accession Number:** 0001967875
**File Stem:** 0001669191-23-000241
**Filing Date:** 2023-3
**Character Count:** 204618
**Document Hash:** dcfe54f4394fba2532ca8da052d1367c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001669191-23-000241.hdr.sgml**: 20230310

**ACCESSION NUMBER**: 0001669191-23-000241

**CONFORMED SUBMISSION TYPE**: C/A

**PUBLIC DOCUMENT COUNT**: 8

**FILED AS OF DATE**: 20230310

**DATE AS OF CHANGE**: 20230310

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Catailyst Inc.
- **CENTRAL INDEX KEY:** 0001967875
- **IRS NUMBER:** 842538823
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** C/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-31961
- **FILM NUMBER:** 23723205

**BUSINESS ADDRESS:**
- **STREET 1:** 1 PAUL REVERE ROAD
- **CITY:** NEEDHAM
- **STATE:** MA
- **ZIP:** 02494
- **BUSINESS PHONE:** 3122092001

**MAIL ADDRESS:**
- **STREET 1:** 1 PAUL REVERE ROAD
- **CITY:** NEEDHAM
- **STATE:** MA
- **ZIP:** 02494

## Ex-99

html![](offeringpage.jpg)

### Attached PDF Documents

**Attachment 1:** `offeringstatement.pdf`

# Offering Statement for Catailyst Inc.

('Catailyst,' 'we,' 'our,' or the 'Company')

This document is generated by a website that is operated by Netcapital Systems LLC ('Netcapital'), which is not a registered broker-dealer. Netcapital does not give investment advice, endorsement, analysis or recommendations with respect to any securities. All securities listed here are being offered by, and all information included in this document are the responsibility of, the applicable issuer of such securities. Netcapital has not taken any steps to verify the adequacy, accuracy or completeness of any information. Neither Netcapital nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy or completeness of any information in this document or the use of information in this document.

All Regulation CF offerings are conducted through Netcapital Funding Portal Inc. ('Portal'), an affiliate of Netcapital, and a FINRA/SEC registered funding-portal. For inquiries related to Regulation CF securities activity, contact Netcapital Funding Portal Inc.:

**Paul Riss:**

paul@netcapital.com

Netcapital and Portal do not make investment recommendations and no communication, through this website or in any other medium, should be construed as a recommendation for any security offered on or off this investment platform. Equity crowdfunding investments in private placements, Regulation A, D and CF offerings, and start-up investments in particular are speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investments through equity crowdfunding tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Additionally, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns. In the most sensible investment strategy for start-up investing, start-ups should only be part of your overall investment portfolio. Further, the start-up portion of your portfolio may include a balanced portfolio of different start-ups. Investments in startups are highly illiquid and those investors who cannot hold an investment for the long term (at least 5-7 years) should not invest.

The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company's control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

## The Company

**1. What is the name of the issuer?**

Catailyst Inc.

1 Paul Revere Road

Needham , MA 02494

## Eligibility

**2. The following are true for Catailyst Inc. :**

- Organized under, and subject to, the laws of a State or territory of the United States or the District of Columbia.
- Not subject to the requirement to file reports pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934.
- Not an investment company registered or required to be registered under the Investment Company Act of 1940.
- Not ineligible to rely on this exemption under Section 4(a)(6) of the Securities Act as a result of a disqualification specified in Rule 503(a) of Regulation Crowdfunding. (For more information about these disqualifications, see Question 30 of this Question and Answer format).
- Has filed with the Commission and provided to investors, to the extent required, the ongoing annual reports required by Regulation Crowdfunding during the two years immediately preceding the filing of this offering statement (or for such shorter period that the issuer was required to file such reports).
- Not a development stage company that (a) has no specific business plan or (b) has indicated that its business plan is to engage in a merger or acquisition with an unidentified company or companies.

**3. Has the issuer or any of its predecessors previously failed to comply with the ongoing reporting requirements of Rule 202 of Regulation Crowdfunding?**

No.

## Directors, Officers and Promoters of the Company

**4. The following individuals (or entities) represent the company as a director, officer or promoter of the offering:**

*Name*

Sandipan Chattopadhyay

*Principal occupation and employment responsibilities during at least the last three (3) years with start and ending dates*

| Start Date | End Date | Company | Position / Title |
| --- | --- | --- | --- |
| 01/01/2016 | Present | Xelpmoc Design & Tech | CEO & MD |
| 02/01/2016 | Present | Mihup | Board Member |
| 01/01/2017 | 08/01/2021 | Woovly | Dreamaginator |
| 12/03/2019 | Present | Catailyst Inc. | Chief Technology Officer |

Short Bio: On behalf of Xelpmoc, Sandipan works as the Chief Technology Officer of Catailyst. Education: Indian Institute of Management, Calcutta MBA (PGDCM), Systems and OperationsMBA (PGDCM), Systems and Operations 1994 - 1996 Indian Statistical Institute, Kolkata B.Stat, Statistics 1991 - 1994 Bidhan Nagar Govt High School Secondary and Higher Secondary 1983 - 1991 LinkedIn: https://www.linkedin.com/in/csandipan/

Name

Arindrajit Basak

Principal occupation and employment responsibilities during at least the last three (3) years with start and ending dates

| Start Date | End Date | Company | Position / Title |
| --- | --- | --- | --- |
| 05/31/2019 | Present | Catailyst Inc. | CEO and President |

11/01/2019 04/01/2020 Aeglea BioTherapeutics Corporate Development

Education: UNIVERSITY OF CONNECTICUT SCHOOL OF BUSINESS, Hartford, CT 2011 MBA, Finance & International Business, GPA: 3.9 / 4.0 Extensive experience in Financial Analysis / Modeling and Case Studies UNIVERSITY OF ILLINOIS AT CHICAGO, Chicago IL 2002 Ph.D., Organic Chemistry, Natural Product Synthesis GPA: 5.0 / 5.0, Supervisor: Professor Duncan Wardrop. Discovered new chemical methodologies and accomplished total synthesis of Natural Products: a) asymmetric total syntheses of muscarinic antagonist TAN1251A and epi-TAN1251D, b) Achieved asymmetric total syntheses of cinatrin B, C1, C3 and epi-cinatrin B. President, Chemistry Graduate Forum (2000-01) & Orientation Coordinator for Graduate Students (1998-2000) Teaching Assistant, Chemistry (1996-2000) & Chemistry Instructor, College of Education, Early Outreach Program (1998-99) INDIAN INSTITUTE OF TECHNOLOGY (IIT), Kanpur, India 1996 MS, Chemistry, GPA: 9.5 / 10.0; 1st in class Recognized for the Highest Academic Performance in Master of Science Program CALCUTTA UNIVERSITY (PRESIDENCY COLLEGE), West Bengal, India 1994 Bachelor of Science, Chemistry, Honors; 1st-Class LinkedIn: https://www.linkedin.com/in/jitbasak/

## Principal Security Holders

5. Provide the name and ownership level of each person, as of the most recent practicable date, who is the beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power. To calculate total voting power, include all securities for which the person directly or indirectly has or shares the voting power, which includes the power to vote or to direct the voting of such securities. If the person has the right to acquire voting power of such securities within 60 days, including through the exercise of any option, warrant or right, the conversion of a security, or other arrangement, or if securities are held by a member of the family, through corporations or partnerships, or otherwise in a manner that would allow a person to direct or control the voting of the securities (or share in such direction or control - as, for example, a co-trustee) they should be included as being "beneficially owned." You should include an explanation of these circumstances in a footnote to the "Number of and Class of Securities Now Held." To calculate outstanding voting equity securities, assume all outstanding options are exercised and all outstanding convertible securities converted.

# Arindrajit Basak

| Securities: | 625,000 |
| --- | --- |
| Class: | Class A Common Stock |
| Voting Power: | 100.0% |

# Business and Anticipated Business Plan

### 6. Describe in detail the business of the issuer and the anticipated business plan of the issuer.

Catailyst has recently launched a database and data analytics platform to provide access to financial, clinical, scientific, and regulatory information exclusively for the life science industry. The company has also developed several real-time alerts using proprietary data science methods of artificial intelligence and natural language processing. The company provides these data to its customers from a cloud based platform with SAAS(software as a service) subscription business model. The Company brings a comprehensive solution for Biotech and Pharma Business Development Teams, investment bankers, investors and life science consultants to track drug development, monitor competition, and inform about recent developments of drug candidates and approved drugs. Development of a new drug takes a long time and requires significant investments due to regulatory requirements and a low overall success rate. Thus, every decision during its life cycle whether it involves a go no-go decision, portfolio prioritization or a transaction, relies on accurate and up to date information. Currently, access to such information is fragmented and there no integrated solution for relevant publicly available information. To this end, small and medium size business are unable to access expensive databases. Catailyst has replaced labor intensive collection of data with bots, which reduces the cost of collecting and analyzing data. In turn, Catailyst makes such data affordable and accessible.

Catailyst currently has 1 employees.

# Risk Factors

*A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment.*

*In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document.*

*The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature.*

*These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.*

### 7. Material factors that make an investment in Catailyst Inc. speculative or risky:

1. Risk from Pandemics. We face risks related to health epidemics and other outbreaks, which could significantly disrupt the Company's operations and could have a material adverse impact on us. The outbreak of pandemics and epidemics could materially and adversely affect the Company's business, financial condition, and results of operations. If a pandemic occurs in areas in which we have material

operations or sales, the Company's business activities originating from affected areas, including sales, materials, and supply chain related activities, could be adversely affected. Disruptive activities could include the temporary closure of facilities used in the Company's supply chain processes, restrictions on the export or shipment of products necessary to run the Company's business, business closures in impacted areas, and restrictions on the Company's employees' or consultants' ability to travel and to meet with customers, vendors or other business relationships. The extent to which a pandemic or other health outbreak impacts the Company's results will depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of a virus and the actions to contain it or treat its impact, among others. Pandemics can also result in social, economic, and labor instability which may adversely impact the Company's business. If the Company's employees or employees of any of the Company's vendors, suppliers or customers become ill or are quarantined and in either or both events are therefore unable to work, the Company's operations could be subject to disruption. The extent to which a pandemic affects the Company's results will depend on future developments that are highly uncertain and cannot be predicted.

2. The Company may never receive a future equity financing or undergo a liquidity event such as a sale of the Company or an initial public offering, and you may not be able to sell any shares that you purchase in this offering. The Company may never receive a future equity financing, or undergo a liquidity event such as a sale of the Company or an initial public offering (IPO). If a liquidity event does not occur, such as a sale of the Company or an IPO, the purchasers could be left holding Company securities in perpetuity. The Company's securities have numerous transfer restrictions and will likely be highly illiquid, with potentially no secondary market on which to sell them. The securities have only a minority of voting rights and do not provide the ability to direct the Company or its actions.
3. Future fundraising may affect the rights of investors. In order to expand, the Company is raising funds, and may raise additional funds in the future, either by offerings of securities or through borrowing from banks or other sources. The terms of future capital raising, such as loan agreements, may include covenants that give creditors greater rights over the financial resources of the Company.
4. Our ability to succeed depends on how successful we will be in our fundraising efforts. We rely on investment funds in order to use resources to build the necessary tech and business infrastructure to be successful in the long-term. In the event of competitors being better capitalized than we are, that would give them a significant advantage in marketing and operations.
5. We are dependent on general economic conditions. Potential customers may be less willing to invest in innovation and forward-looking improvements if they are facing an economic downturn. This may temporarily reduce our market size. Furthermore, a global crisis might make it harder to diversify.
6. No governmental agency has reviewed the Company's offering and no state or federal agency has passed upon either the adequacy of the disclosure contained herein or the fairness of the terms of this offering.
7. Our management may not be able to control costs in an effective or timely manner. The Company's management anticipates it can use reasonable efforts to assess, predict and control costs and expenses. However, implementing our business plan may require more employees, capital equipment, supplies or other expenditure items than management has predicted.
8. Start-up investing is risky. Investing in early-stage companies is very risky, highly speculative, and should not be made by anyone who cannot afford to lose their entire investment. Unlike an investment in a mature business where there is a track record of revenue and income, the success of a startup or early-stage venture often relies on the development of a new product or service that may or may not find a market. Before investing, you should carefully consider the specific risks and disclosures related to both this offering type and the Company.
9. Your shares are not easily transferable. You should not plan on being able to readily transfer and/or resell your security. Currently there is no market or liquidity for these shares and the Company does not have any plans to list these shares on an exchange or other secondary market. At some point the Company may choose to do so, but until then you should plan to hold your investment for a significant period of time before a liquidation event occurs, if ever.

10. Any valuation at this stage is difficult to assess. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment. In addition, there may be additional classes of equity with rights that are superior to the class of equity being sold.

11. You may only receive limited disclosure. While the Company must disclose certain information, since the Company is at an early-stage they may only be able to provide limited information about its business plan and operations because it does not have fully developed operations or a long history. The Company may also only be obligated to file information periodically regarding its business, including financial statements. A publicly listed company, in contrast, is required to file annual and quarterly reports and promptly disclose certain events - through continuing disclosure that you can use to evaluate the status of your investment.

12. We are highly dependent on the services of our founder. Our future business and results of operations depend in significant part upon the continued contributions of our CEO and founder. If we lose those services or if he fails to perform in his current position, or if we are not able to attract and retain skilled employees in addition to our CEO and the current team, this could adversely affect the development of our business plan and harm our business. In addition, the loss of any other member of the board of directors or executive officers could harm the Company's business, financial condition, cash flow and results of operations.

13. Our future growth depends on our ability to develop and retain customers. Our future growth depends to a large extent on our ability to effectively anticipate and adapt to customer requirements and offer services that meet customer demands. If we are unable to attract customers and/or retain customers, our business, results of operations and financial condition may be materially adversely affected.

14. Third parties might infringe upon our technology. We cannot assure you that the steps we have taken to protect our property rights will prevent misappropriation of our technology. To protect our rights to our intellectual property, we plan to rely on a combination of trade secrets, confidentiality agreements and other contractual arrangements with our employees, affiliates, strategic partners and others. We may be unable to detect inappropriate use of our technology. Failure to adequately protect our intellectual property could materially harm our brand, devalue our proprietary content and affect our ability to compete effectively. Further, defending any technology rights could result in significant financial expenses and managerial resources.

15. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. You should not rely on the fact that our Form C is accessible through the U.S. Securities and Exchange Commission's EDGAR filing system as an approval, endorsement or guarantee of compliance as it relates to this offering.

16. Investors will not be entitled to any inspection or information rights other than those required by Regulation Crowdfunding. Investors will not have the right to inspect the books and records of the Company or to receive financial or other information from the Company, other than as required by Regulation Crowdfunding. Other security holders of the Company may have such rights. Regulation Crowdfunding requires only the provision of an annual report on Form C and no additional information - there are numerous methods by which the Company can terminate annual report obligations, resulting in no information rights, contractual, statutory or otherwise, owed to Investors. This lack of information could put investors at a disadvantage in general and with respect to other security holders.

17. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature.

You should not rely on the fact that our Form C, and if applicable Form D is accessible through the U.S. Securities and Exchange Commission's EDGAR filing system as an approval, endorsement or guarantee of compliance as it relates to this Offering.

18. *Neither the Offering nor the Securities have been registered under federal or state securities laws, leading to an absence of certain regulation applicable to the Company.*

The securities being offered have not been registered under the Securities Act of 1933 (the 'Securities Act'), in reliance on exemptive provisions of the Securities Act. Similar reliance has been placed on apparently available exemptions from securities registration or qualification requirements under applicable state securities laws. No assurance can be given that any offering currently qualifies or will continue to qualify under one or more of such exemptive provisions due to, among other things, the adequacy of disclosure and the manner of distribution, the existence of similar offerings in the past or in the future, or a change of any securities law or regulation that has retroactive effect. If, and to the extent that, claims or suits for rescission are brought and successfully concluded for failure to register any offering or other offerings or for acts or omissions constituting offenses under the Securities Act, the Securities Exchange Act of 1934, or applicable state securities laws, the Company could be materially adversely affected, jeopardizing the Company's ability to operate successfully. Furthermore, the human and capital resources of the Company could be adversely affected by the need to defend actions under these laws, even if the Company is ultimately successful in its defense.

19. *The Company has the right to extend the Offering Deadline, conduct multiple closings, or end the Offering early.*

The Company may extend the Offering Deadline beyond what is currently stated herein. This means that your investment may continue to be held in escrow while the Company attempts to raise the Minimum Amount even after the Offering Deadline stated herein is reached. While you have the right to cancel your investment up to 48 hours before an Offering Deadline, if you choose to not cancel your investment, your investment will not be accruing interest during this time and will simply be held until such time as the new Offering Deadline is reached without the Company receiving the Minimum Amount, at which time it will be returned to you without interest or deduction, or the Company receives the Minimum Amount, at which time it will be released to the Company to be used as set forth herein. Upon or shortly after release of such funds to the Company, the Securities will be issued and distributed to you. If the Company reaches the target offering amount prior to the Offering Deadline, they may conduct the first of multiple closings of the Offering prior to the Offering Deadline, provided that the Company gives notice to the investors of the closing at least five business days prior to the closing (absent a material change that would require an extension of the Offering and reconfirmation of the investment commitment). Thereafter, the Company may conduct additional closings until the Offering Deadline. The Company may also end the Offering early; if the Offering reaches its target offering amount after 21-calendar days but before the deadline, the Company can end the Offering with 5 business days' notice. This means your failure to participate in the Offering in a timely manner, may prevent you from being able to participate - it also means the Company may limit the amount of capital it can raise during the Offering by ending it early.

20. *The Company's management may have broad discretion in how the Company uses the net proceeds of the Offering.*

Despite that the Company has agreed to a specific use of the proceeds from the Offering, the Company's management will have considerable discretion over the allocation of proceeds from the Offering. You may not have the opportunity, as part of your investment decision, to assess whether the proceeds are being used appropriately.

21. *The Securities issued by the Company will not be freely tradable until one year from the initial purchase date. Although the Securities may be tradable under federal securities law, state securities regulations may apply, and each Investor should consult with his or her attorney.*

You should be aware of the long-term nature of this investment. There is not now and likely will not be a public market for the Securities. Because the Securities offered in this Offering have not been

registered under the Securities Act or under the securities laws of any state or non-United States jurisdiction, the Securities have transfer restrictions and cannot be resold in the United States except pursuant to Rule 501 of Regulation CF. It is not currently contemplated that registration under the Securities Act or other securities laws will be affected. Limitations on the transfer of the shares of Securities may also adversely affect the price that you might be able to obtain for the shares of Securities in a private sale. Investors should be aware of the long-term nature of their investment in the Company. Investors in this Offering will be required to represent that they are purchasing the Securities for their own account, for investment purposes and not with a view to resale or distribution thereof.

# 22. *Investors will not be entitled to any inspection or information rights other than those required by Regulation CF.*

Investors will not have the right to inspect the books and records of the Company or to receive financial or other information from the Company, other than as required by Regulation CF. Other security holders of the Company may have such rights. Regulation CF requires only the provision of an annual report on Form C and no additional information - there are numerous methods by which the Company can terminate annual report obligations, resulting in no information rights, contractual, statutory or otherwise, owed to Investors. This lack of information could put Investors at a disadvantage in general and with respect to other security holders.

# 23. *The shares of Securities acquired upon the Offering may be significantly diluted as a consequence of subsequent financings.*

Company equity securities will be subject to dilution. Company intends to issue additional equity to future employees and third-party financing sources in amounts that are uncertain at this time, and as a consequence, holders of Securities will be subject to dilution in an unpredictable amount. Such dilution may reduce the purchaser’s economic interests in the Company.

# 24. The amount of additional financing needed by Company will depend upon several contingencies not foreseen at the time of this Offering. Each such round of financing (whether from the Company or other investors) is typically intended to provide the Company with enough capital to reach the next major corporate milestone. If the funds are not sufficient, Company may have to raise additional capital at a price unfavorable to the existing investors. The availability of capital is at least partially a function of capital market conditions that are beyond the control of the Company. There can be no assurance that the Company will be able to predict accurately the future capital requirements necessary for success or that additional funds will be available from any source. Failure to obtain such financing on favorable terms could dilute or otherwise severely impair the value of the investor's Company securities.

# 25. *There is no present public market for these Securities and we have arbitrarily set the price.*

The offering price was not established in a competitive market. We have arbitrarily set the price of the Securities with reference to the general status of the securities market and other relevant factors. The Offering price for the Securities should not be considered an indication of the actual value of the Securities and is not based on our net worth or prior earnings. We cannot assure you that the Securities could be resold by you at the Offering price or at any other price.

# 26. In addition to the risks listed above, businesses are often subject to risks not foreseen or fully appreciated by the management. It is not possible to foresee all risks that may affect us. Moreover, the Company cannot predict whether the Company will successfully effectuate the Company's current business plan. Each prospective Investor is encouraged to carefully analyze the risks and merits of an investment in the Securities and should take into consideration when making such analysis, among other, the Risk Factors discussed above.

27. THE SECURITIES OFFERED INVOLVE A HIGH DEGREE OF RISK AND MAY RESULT IN THE LOSS OF YOUR ENTIRE INVESTMENT. ANY PERSON CONSIDERING THE PURCHASE OF THESE SECURITIES SHOULD BE AWARE OF THESE AND OTHER FACTORS SET FORTH IN THIS OFFERING STATEMENT AND SHOULD CONSULT WITH HIS OR HER LEGAL, TAX AND FINANCIAL ADVISORS PRIOR TO MAKING AN INVESTMENT IN THE SECURITIES. THE SECURITIES SHOULD ONLY BE PURCHASED BY PERSONS WHO CAN AFFORD TO LOSE ALL OF THEIR INVESTMENT.

## The Offering

Catailyst Inc. (“Company”) is offering securities under Regulation CF, through Netcapital Funding Portal Inc. (“Portal”). Portal is a FINRA/SEC registered funding portal and will receive cash compensation equal to 4.9% of the value of the securities sold through Regulation CF. Investments made under Regulation CF involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest.

The Company plans to raise between $10,000 and $1,235,000 through an offering under Regulation CF. Specifically, if we reach the target offering amount of $10,000, we may conduct the first of multiple or rolling closings of the offering early if we provide notice about the new offering deadline at least five business days prior to such new offering deadline (absent a material change that would require an extension of the offering and reconfirmation of the investment commitment). Oversubscriptions will be allocated on a first come, first served basis. Changes to the offering, material or otherwise, occurring after a closing, will only impact investments which have yet to be closed.

In the event The Company fails to reach the offering target of $10,000, any investments made under the offering will be cancelled and the investment funds will be returned to the investor.

### **8. What is the purpose of this offering?**

The Company plans to use the proceeds primarily on salaries, technology, advertising and marketing, and research and development.

### **9. How does the issuer intend to use the proceeds of this offering?**

| Uses | If Target Offering Amount Sold | If Maximum Amount Sold |
| --- | --- | --- |
| Intermediary Fees | $490 | $60,515 |
| Salaries - Management | $0 | $200,000 |
| Advertising and Marketing | $9,510 | $250,000 |
| Patents | $0 | $40,000 |
| Legal and Professional Sevices | $0 | $30,000 |
| Research and Development | $0 | $108,000 |
| Technology | $0 | $228,485 |
| Website | $0 | $30,000 |
| Insurance | $0 | $8,000 |
| Salaries - Marketing | $0 | $100,000 |
| Salaries - Sales | $0 | $180,000 |
| Total Use of Proceeds | $10,000 | $1,235,000 |

#### 10. How will the issuer complete the transaction and deliver securities to the investors?

In entering into an agreement on the Netcapital Funding Portal to purchase securities, both investors and Catalyst Inc. must agree that a transfer agent, which keeps records of our outstanding Class A Common Stock (the 'Securities'), will issue digital Securities in the investor's name (a paper certificate will not be printed). Similar to other online investment accounts, the transfer agent will give investors access to a web site to see the number of Securities that they own in our company. These Securities will be issued to investors after the deadline date for investing has passed, as long as the targeted offering amount has been reached. The transfer agent will record the issuance when we have received the purchase proceeds from the escrow agent who is holding your investment commitment.

#### 11. How can an investor cancel an investment commitment?

You may cancel an investment commitment for any reason until 48 hours prior to the deadline identified in the offering by logging in to your account with Netcapital, browsing to the Investments screen, and clicking to cancel your investment commitment. Netcapital will notify investors when the target offering amount has been met. If the issuer reaches the target offering amount prior to the deadline identified in the offering materials, it may close the offering early if it provides notice about the new offering deadline at least five business days prior to such new offering deadline (absent a material change that would require an extension of the offering and reconfirmation of the investment commitment). If an investor does not cancel an investment commitment before the 48-hour period prior to the offering deadline, the funds will be released to the issuer upon closing of the offering and the investor will receive securities in exchange for his or her investment. If an investor does not reconfirm his or her investment commitment after a material change is made to the offering, the investor's investment commitment will be cancelled and the committed funds will be returned.

#### 12. Can the Company perform multiple closings or rolling closings for the offering?

If we reach the target offering amount prior to the offering deadline, we may conduct the first of multiple closings of the offering early, if we provide notice about the new offering deadline at least five business days prior (absent a material change that would require an extension of the offering and reconfirmation of the investment commitment). Thereafter, we may conduct additional closings until the offering deadline. We will issue Securities in connection with each closing. Oversubscriptions will be allocated on a first

come, first served basis. Changes to the offering, material or otherwise, occurring after a closing, will only impact investments which have yet to be closed.

## Ownership and Capital Structure

### The Offering

#### 13. Describe the terms of the securities being offered.

We are issuing Securities at an offering price of $10 per share.

#### 14. Do the securities offered have voting rights?

The Securities are being issued with voting rights. However, so that the crowdfunding community has the opportunity to act together and cast a vote as a group when a voting matter arises, a record owner will cast your vote for you. Please refer to the record owner agreement that you sign before your purchase is complete.

#### 15. Are there any limitations on any voting or other rights identified above?

You are giving your voting rights to the record owner, who will vote the Securities on behalf of all investors who purchased Securities on the Netcapital crowdfunding portal.

#### 16. How may the terms of the securities being offered be modified?

Any provision of the terms of the Securities being offered may be amended, waived or modified by written consent of the majority owner(s) of the Company. We may choose to modify the terms of the Securities before the offering is completed. However, if the terms are modified, and we deem it to be a material change, we need to contact you and you will be given the opportunity to reconfirm your investment. Your reconfirmation must be completed within five business days of receipt of the notice of a material change, and if you do not reconfirm, your investment will be canceled and your money will be returned to you.

### Restrictions on Transfer of the Securities Offered

The securities being offered may not be transferred by any purchaser of such securities during the one-year period beginning when the securities were issued, unless such securities are transferred:

- to the issuer;
- to an accredited investor;
- as part of an offering registered with the U.S. Securities and Exchange Commission; or
- to a member of the family of the purchaser or the equivalent, to a trust controlled by the purchaser, to a trust created for the benefit of a member of the family of the purchaser or the equivalent, or in connection with the death or divorce of the purchaser or other similar circumstance.

The term “accredited investor” means any person who comes within any of the categories set forth in Rule 501(a) of Regulation D, or who the seller reasonably believes comes within any of such categories, at the time of the sale of the securities to that person.

The term “member of the family of the purchaser or the equivalent” includes a child, stepchild, grandchild, parent, stepparent, grandparent, spouse or spousal equivalent, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law of the purchaser, and includes adoptive relationships.

The term “spousal equivalent” means a cohabitant occupying a relationship generally equivalent to that of a spouse.

## Description of Issuer’s Securities

17. What other securities or classes of securities of the issuer are outstanding? Describe the material terms of any other outstanding securities or classes of securities of the issuer.

### Securities

| Class of Security | Amount Authorized | Amount Outstanding | Voting Rights | Other Rights |
| --- | --- | --- | --- | --- |
| Class A Common Stock | 10,000,000 | 625,000 | Yes |  |
| Class B Common Stock | 375,000 | 375,000 | No |  |

### Options, Warrants and Other Rights

| Type | Description | Reserved Securities |
| --- | --- | --- |
| Stock Options | The Company has a Equity Incentive Plan (“the Plan”) where up to 500,000 shares of common stock may be issued under the Plan. Currently, 18,500 options have been granted. The 18,500 granted options have an exercise price between $0.07 and $0.13, expire ten years from the grant date, and vest over a 4 year period. As of December 31, 2022, 8,029 options have vested. None of the granted options have been exercised. | 500,000 |

18. How may the rights of the securities being offered be materially limited, diluted or qualified by the rights of any other class of securities?

The Company currently has 18,500 options granted. If those options were to be exercised, your ownership in the Company would be diluted. None of the Company’s debt is convertible into equity.

19. Are there any differences not reflected above between the securities being offered and each other class of security of the issuer?

The Company has granted a perpetual waiver of the transfer restrictions listed in the bylaws of Catalyst Inc. for all Securities sold in this Offering.

20. How could the exercise of rights held by the principal owners identified in Question 5 above affect the purchasers of Securities being offered?

The Company’s bylaws can be amended by the shareholders of the Company, and directors can be added or removed by shareholder vote. As minority owners, you are subject to the decisions made by the majority owners. The issued and outstanding common stock gives management voting control of the Company. As a minority owner, you may be outvoted on issues that impact your investment, such as the issuance of additional shares, or the sale of debt, convertible debt or assets of the Company.

21. How are the securities being offered being valued? Include examples of methods for how such securities may be valued by the issuer in the future, including during subsequent corporate actions.

The price of the Securities was determined solely by the management and bears no relation to traditional measures of valuation such as book value or price-to-earnings ratios. We expect that any future valuation

will take the same approach.

# **22. What are the risks to purchasers of the securities relating to minority ownership in the issuer?**

As the holder of a majority of the voting rights in the Company, our majority shareholders may make decisions with which you disagree, or that negatively affect the value of your investment in the Company, and you will have no recourse to change those decisions. Your interests may conflict with the interests of other investors, and there is no guarantee that the Company will develop in a way that is advantageous to you. For example, the majority shareholders may decide to issue additional shares to new investors, sell convertible debt instruments with beneficial conversion features, or make decisions that affect the tax treatment of the Company in ways that may be unfavorable to you. Based on the risks described above, you may lose all or part of your investment in the securities that you purchase, and you may never see positive returns.

# **23. What are the risks to purchasers associated with corporate actions including:**

- additional issuances of securities,
- issuer repurchases of securities,
- a sale of the issuer or of assets of the issuer or
- transactions with related parties?

The issuance of additional shares of our common stock will dilute your ownership. As a result, if we achieve profitable operations in the future, our net income per share will be reduced because of dilution, and the market price of our common stock, if there is a market price, could decline as a result of the additional issuances of securities. If we repurchase securities, so that the above risk is mitigated, and there are fewer shares of common stock outstanding, we may not have enough cash available for marketing expenses, growth, or operating expenses to reach our goals. If we do not have enough cash to operate and grow, we anticipate the market price of our stock would decline. A sale of our company or of the assets of our company may result in an entire loss of your investment. We cannot predict the market value of our company or our assets, and the proceeds of a sale may not be cash, but instead, unmarketable securities, or an assumption of liabilities. In addition to the payment of wages and expense reimbursements, we may need to engage in transactions with officers, directors, or affiliates. By acquiring an interest in the Company, you will be deemed to have acknowledged the existence of any such actual or potential related party transactions and waived any claim with respect to any liability arising from a perceived or actual conflict of interest. In some instances, we may deem it necessary to seek a loan from related parties. Such financing may not be available when needed. Even if such financing is available, it may be on terms that are materially averse to your interests with respect to dilution of book value, dividend preferences, liquidation preferences, or other terms. No assurance can be given that such funds will be available or, if available, will be on commercially reasonable terms satisfactory to us. If we are unable to obtain financing on reasonable terms, we could be forced to discontinue our operations. We anticipate that any transactions with related parties will be vetted and approved by executives(s) unaffiliated with the related parties.

# **24. Describe the material terms of any indebtedness of the issuer:**

| Creditor(s): | Arindrajit Basak |
| --- | --- |
| Amount Outstanding: | $50,000 |
| Interest Rate: | 0.0% |
| Maturity Date: | No Maturity Date |
| Other Material Terms: |  |

# **25. What other exempt offerings has Catalyst Inc. conducted within the past three years?**

| Date of Offering: | 2021-01-01 |
| --- | --- |
| Exemption: | Section 4(a)(2) |

| Securities Offered: | Common Stock |
| --- | --- |
| Amount Sold: | $3,750 |
| Use of Proceeds: | The Company issued 375,000 shares of Class B Common Stock in exchange for $3,750. The proceeds were used on operating expenses. |

26. Was or is the issuer or any entities controlled by or under common control with the issuer a party to any transaction since the beginning of the issuer's last fiscal year, or any currently proposed transaction, where the amount involved exceeds five percent of the aggregate amount of capital raised by the issuer in reliance on Section 4(a)(6) of the Securities Act during the preceding 12-month period, including the amount the issuer seeks to raise in the current offering, in which any of the following persons had or is to have a direct or indirect material interest:
1. any director or officer of the issuer;
2. any person who is, as of the most recent practicable date, the beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power;
3. if the issuer was incorporated or organized within the past three years, any promoter of the issuer; or
4. any immediate family member of any of the foregoing persons.

No.

## Financial Condition of the Issuer

27. Does the issuer have an operating history?

Yes.

28. Describe the financial condition of the issuer, including, to the extent material, liquidity, capital resources and historical results of operations.

The Company is a corporation organized under the State of Delaware. The Company offers a data analytics platform that provides access to financial, clinical, scientific, and regulatory information exclusively in the life science industry. In addition, the company has also developed several real time alerts and superior search functionalities using proprietary data science methods of artificial intelligence. Results of Operations: For the year ended December 31, 2021, the Company had no revenues and incurred operating expenses of $78,625, resulting in a net operating loss of $78,625. Additionally, the Company recorded $60,139 in other income and taxes of $906, resulting in a net loss of $19,393. For the year ended December 31, 2022, the Company generated $25,500 in revenues and recorded cost of revenues of $4,183, resulting in a gross profit of $21,317. Operating expenses for the year ended December 31, 2022 decreased by $22,879 to $55,746, as compared to $78,625 reported for the year ended December 31, 2021. Other income for the year ended December 31, 2022 decreased by $36,598 to $23,541, as compared to $60,139 reported for the year ended December 31, 2021. The decrease was a result of not recording any income from PPP loan forgiveness during 2022. Taxes for the year ended December 31, 2022 decreased by $450 to $456, as compared to $906 reported for the year ended December 31, 2021. Liquidity and Capital Resources: On December 31, 2022, the Company had cash and cash equivalents of $12,392 and working capital of $13,382 as compared to cash and cash equivalents of $20,535 and working capital of $18,794 on December 31, 2020. The Company currently owes $50,000 in a related party loan to its CEO Arindrajit Basak. The amount owed did not change during 2022. The loan does not accrue interest and does not have a maturity date. During 2019, the Company entered into a master service agreement to acquire services from an independent contractor, Xelpmoc Design and Tech Limited, which it intends to use to enhance its platform.

In late 2022, the agreement was amended, calling for $3,750 per employee under a monthly basis plus any applicable taxes, if any. In addition, the agreement term was extended until December 3, 2024. At the conclusion of the extended term, the Company will have the option to renew the term on a yearly basis. In conjunction with the agreement, the Company issued 375,000 shares of Class-B Common Stock at the par value of $0.01 or an aggregate purchase price of $3,750.

## Financial Information

29. **Include the financial information specified by regulation, covering the two most recently completed fiscal years or the period(s) since inception if shorter.**

See attachments:

CPA Review Report:

reviewletter.pdf

30. With respect to the issuer, any predecessor of the issuer, any affiliated issuer, any director, officer, general partner or managing member of the issuer, any beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated in the same form as described in Question 6 of this Question and Answer format, any promoter connected with the issuer in any capacity at the time of such sale, any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with such sale of securities, or any general partner, director, officer or managing member of any such solicitor, prior to May 16, 2016:

1. Has any such person been convicted, within 10 years (or five years, in the case of issuers, their predecessors and affiliated issuers) before the filing of this offering statement, of any felony or misdemeanor:
1. in connection with the purchase or sale of any security?
2. involving the making of any false filing with the Commission?
3. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities?

2. Is any such person subject to any order, judgment or decree of any court of competent jurisdiction, entered within five years before the filing of the information required by Section 4A(b) of the Securities Act that, at the time of filing of this offering statement, restrains or enjoins such person from engaging or continuing to engage in any conduct or practice:
1. in connection with the purchase or sale of any security?;
2. involving the making of any false filing with the Commission?
3. arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities?

3. Is any such person subject to a final order of a state securities commission (or an agency or officer of a state performing like functions); a state authority that supervises or examines banks, savings associations or credit unions; a state insurance commission (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the U.S. Commodity Futures Trading Commission; or the National Credit Union Administration that:
1. at the time of the filing of this offering statement bars the person from:
1. association with an entity regulated by such commission, authority, agency or officer?
2. engaging in the business of securities, insurance or banking?
3. engaging in savings association or credit union activities?

2. constitutes a final order based on a violation of any law or regulation that prohibits fraudulent, manipulative or deceptive conduct and for which the order was entered within the 10-year period ending on the date of the filing of this offering statement?

4. Is any such person subject to an order of the Commission entered pursuant to Section 15(b) or 15B(c) of the Exchange Act or Section 203(e) or (f) of the Investment Advisers Act of 1940 that, at the time of the filing of this offering statement:
1. suspends or revokes such person's registration as a broker, dealer, municipal securities dealer, investment adviser or funding portal?
2. places limitations on the activities, functions or operations of such person?
3. bars such person from being associated with any entity or from participating in the offering of any penny stock?

If Yes to any of the above, explain:

5. Is any such person subject to any order of the Commission entered within five years before the filing of this offering statement that, at the time of the filing of this offering statement, orders the person to cease and desist from committing or causing a violation or future violation of:

1. any scienter-based anti-fraud provision of the federal securities laws, including without limitation Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act, Section 15(c)(1) of the Exchange Act and Section 206(1) of the Investment Advisers Act of 1940 or any other rule or regulation thereunder?
2. Section 5 of the Securities Act?
6. Is any such person suspended or expelled from membership in, or suspended or barred from association with a member of, a registered national securities exchange or a registered national or affiliated securities association for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade?
7. Has any such person filed (as a registrant or issuer), or was any such person or was any such person named as an underwriter in, any registration statement or Regulation A offering statement filed with the Commission that, within five years before the filing of this offering statement, was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is any such person, at the time of such filing, the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued?
8. Is any such person subject to a United States Postal Service false representation order entered within five years before the filing of the information required by Section 4A(b) of the Securities Act, or is any such person, at the time of filing of this offering statement, subject to a temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property through the mail by means of false representations?

Catailyst Inc. answers 'NO' to all of the above questions.

## Other Material Information

31. In addition to the information expressly required to be included in this Form, include: any other material information presented to investors; and such further material information, if any, as may be necessary to make the required statements, in the light of the circumstances under which they are made, not misleading.

The following documents are being submitted as part of this offering:

Governance:

| Certificate of Incorporation: | certificateofincorporation.pdf |
| --- | --- |
| Corporate Bylaws: | corporatebylaws.pdf |

Opportunity:

| Offering Page JPG: | offeringpage.jpg |
| --- | --- |

Financials:

| Additional Information: | otherfinancial.pdf |
| --- | --- |

## Ongoing Reporting

32. The issuer will file a report electronically with the Securities & Exchange Commission annually and post the report on its web site, no later than 120 days after the end of each fiscal year covered by the report:

Once posted, the annual report may be found on the issuer's web site at: https://catailyst.ai/

The issuer must continue to comply with the ongoing reporting requirements until:

- the issuer is required to file reports under Section 13(a) or Section 15(d) of the Exchange Act;
- the issuer has filed at least one annual report pursuant to Regulation Crowdfunding and has fewer than 300 holders of record and has total assets that do not exceed $10,000,000;
- the issuer has filed at least three annual reports pursuant to Regulation Crowdfunding;
- the issuer or another party repurchases all of the securities issued in reliance on Section 4(a)(6) of the Securities Act, including any payment in full of debt securities or any complete redemption of redeemable securities; or
- the issuer liquidates or dissolves its business in accordance with state law.

**Attachment 2:** `reviewletter.pdf`

# **CATAILYST, INC.**

Unaudited Financial Statements For The Years Ended December 31, 2022 and 2021

Jason M. Tyra
CPA PLLC

# INDEPENDENT ACCOUNTANT'S REVIEW REPORT

To Management
Catailyst, Inc.
Needham, MA

We have reviewed the accompanying financial statements of Catailyst, Inc. (a corporation), which comprise the balance sheet as of December 31, 2022 and 2021, and the related statements of income, changes in shareholders' equity, and cash flows for the years then ended, and the related notes to the financial statements. A review includes primarily applying analytical procedures to management's financial data and making inquiries of company management. A review is substantially less in scope than an audit, the objective of which is the expression of an opinion regarding the financial statements as a whole. Accordingly, We do not express such an opinion.

# Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement whether due to fraud or error.

# Accountant's Responsibility

Our responsibility is to conduct the review engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. Those standards require us to perform procedures to obtain limited assurance as a basis for reporting whether We are aware of any material modifications that should be made to the financial statements for them to be in accordance with accounting principles generally accepted in the United States of America. We believe that the results of Our procedures provide a reasonable basis for Our conclusion.

# Accountant's Conclusion

Based on Our review, We are not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in accordance with accounting principles generally accepted in the United States of America.

# Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note B, certain conditions raise an uncertainty about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note B. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our conclusion is not modified with respect to this matter.

A handwritten signature in black ink, appearing to read 'Jason M. Tyra'.

Jason M. Tyra, CPA, PLLC
Plano, TX
February 15, 2023

6301 Preston Rd Suite 700
Plano, TX 75024
(P) 972-201-9008
info@tyracpa.com
www.tyracpa.com

# **CATAILYST, INC.**
**BALANCE SHEET**
**DECEMBER 31, 2022 AND 2021**

|  | 2022 | 2021 |
| --- | --- | --- |
| ASSETS |  |  |
| CURRENT ASSETS |  |  |
| Cash | $12,392 | $20,535 |
| Accounts Receivable | 990 | - |
| TOTAL CURRENT ASSETS | 13,382 | 20,535 |
| NON-CURRENT ASSETS |  |  |
| Fixed Assets | 25,000 | 20,000 |
| Accumulated Depreciation | (16,806) | (10,139) |
| TOTAL NON-CURRENT ASSETS | 8,194 | 9,861 |
| TOTAL ASSETS | $21,576 | $30,396 |
| LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |
| CURRENT LIABILITIES |  |  |
| Accounts Payable | - | 1,741 |
| TOTAL CURRENT LIABILITIES | - | 1,741 |
| NON-CURRENT LIABILITIES |  |  |
| Related Party Loan | 50,035 | 50,035 |
| TOTAL LIABILITIES | 50,035 | 51,776 |
| SHAREHOLDERS' EQUITY |  |  |
| Class-A Common Stock (10,000,000 shares authorized; 625,000 issued; $0.01 par value) | 6,250 | 6,250 |
| Class-B Common Stock (375,000 shares authorized; 375,000 issued; $0.01 par value) | 3,750 | 3,750 |
| Option Grants | 8,029 | 3,763 |
| Retained Deficit | (46,488) | (35,143) |
| TOTAL SHAREHOLDERS' EQUITY | (28,459) | (21,380) |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $21,576 | $30,396 |

See Independent Accountant's Review Report and accompanying notes, which are an integral part of these financial statements. (Unaudited) 1

# **CATAILYST, INC.**  
 **INCOME STATEMENT**  
 **FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021**---

|  | 2022 | 2021 |
| --- | --- | --- |
| Operating Income |  |  |
| Sales | $25,500 | $ - |
| Cost of Goods Sold | 4,183 | - |
| Gross Profit | 21,317 | - |
| Operating Expense |  |  |
| Salaries & Wages | 29,786 | 52,245 |
| Legal & Professional | 8,631 | 12,730 |
| Depreciation | 6,667 | 6,528 |
| General & Administrative | 6,313 | 3,890 |
| Stock Compensation Expense | 4,266 | 3,232 |
| Advertising & Marketing | 84 | - |
|  | 55,746 | 78,625 |
| Net Loss from Operations | (34,429) | (78,625) |
| Other Income (Expense) |  |  |
| Other Income | 23,541 | 60,139 |
| Taxes | (456) | (906) |
| Net Loss | $(11,345) | $(19,393) |
| Net Loss Per Share |  |  |
| Weighted average common shares outstanding - Basic | 1,000,000 | 1,000,000 |
| Net Loss per share | $(0.01) | $(0.02) |

See Independent Accountant's Review Report and accompanying notes, which are an integral part of these financial statements. (Unaudited)

2

# **CATAILYST, INC.**  
 **STATEMENT OF CASH FLOWS**  
 **FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021**---

|  | 2022 | 2021 |
| --- | --- | --- |
| Cash Flows From Operating Activities |  |  |
| Net Loss For The Period | $(11,345) | $(19,393) |
| Depreciation | 6,667 | 6,528 |
| Change in Accounts Receivable | (990) | - |
| Change in Accounts Payable | (1,741) | 1,358 |
| Net Cash Flows From Operating Activities | (7,409) | (11,507) |
| Cash Flows From Investing Activities |  |  |
| Purchase of Fixed Assets | (5,000) | (5,000) |
| Net Cash Flows From Investing Activities | (5,000) | (5,000) |
| Cash Flows From Financing Activities |  |  |
| Issuance of Option Grants | 4,266 | 3,232 |
| Issuance/(Repayment) of Related Party Loan | - | 5,418 |
| Issuance of Common Stock | - | 3,750 |
| Net Cash Flows From Financing Activities | 4,266 | 12,400 |
| Cash at Beginning of Period | 20,535 | 24,642 |
| Net Decrease In Cash | (8,144) | (4,107) |
| Cash at End of Period | $12,392 | $20,535 |

See Independent Accountant's Review Report and accompanying notes, which are an integral part of these financial statements. (Unaudited)

3

# **CATAILYST, INC.**  
 **STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY**  
 **FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021**

|  | Class-A Common Stock |  | Class-B Common Stock |  | Option Grants | Retained Deficit | Total Shareholders' Equity |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | Number | Amount | Number | Amount |  |  |  |
| Balance at December 31, 2020 | 625,000 | $6,250 |  | $ - | $531 | $(15,750) | $(8,969) |
| Issuance of Stock |  |  | 375,000 | 3,750 | 3,232 |  | 6,982 |
| Net Loss |  |  |  |  |  | (19,393) | (19,393) |
| Balance at December 31, 2021 | 625,000 | $6,250 | 375,000 | $3,750 | $3,763 | $(35,143) | $(21,380) |
| Issuance of Stock |  |  |  |  | 4,266 |  | 4,266 |
| Net Loss |  |  |  |  |  | (11,345) | (11,345) |
| Balance at December 31, 2022 | 625,000 | $6,250 | 375,000 | $3,750 | $8,029 | $(46,488) | $(28,459) |

See Independent Accountant's Review Report and accompanying notes, which are an integral part of these financial statements. (Unaudited)

4

# CATAILYST, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)  
DECEMBER 31, 2022 & 2021---

# NOTE A- ORGANIZATION AND NATURE OF ACTIVITIES

Catailyst, Inc. ('the Company') is a corporation organized under the State of Delaware. The Company offers a data analytics platform that provides access to financial, clinical, scientific, and regulatory information exclusively in the life science industry. In addition, the company has also developed several real time alerts and superior search functionalities using proprietary data science methods of artificial intelligence.

The Company is affiliated with, Xelpmoc Design and Tech Limited, a technology & design company that offers its services to the Company under an agreement described further in the 'Related Party Transaction/Service Agreement' footnote.

# NOTE B- GOING CONCERN MATTERS

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue in operation for the foreseeable future. However, management has identified the following conditions and events that created an uncertainty about the ability of the Company to continue as a going concern. The Company sustained net operating losses in 2022 of $11,297 and 2021 of $19,327.

The following describes management's plans that are intended to mitigate the conditions and events that raise substantial doubt about the Company's ability to continue as a going concern. The Company plans to raise funds to continue operations through a Reg CF offering. The Company's ability to meet its obligations as they become due is dependent upon the success of management's plans, as described above.

These conditions and events create an uncertainty about the ability of the Company to continue as a going concern through February 15, 2024 (one year after the date that the financial statements are available to be issued). The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

# NOTE C- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

# Basis of Presentation

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ('US GAAP'). The Company's fiscal year ends December 31.

# Significant Risks and Uncertainties

The Company is subject to customary risks and uncertainties associated with development of new technology including, but not limited to, the need for protection of intellectual property, dependence on key personnel, costs of services provided by third parties, the need to obtain additional financing, and limited operating history.

5

# CATAILYST, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)---

### Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Changes in estimates are recorded in the period they are made. Actual results could differ from those estimates.

### Cash and Cash Equivalents

Cash and cash equivalents include all cash balances, and highly liquid investments with maturities of three months or less when purchased.

### Accounts Receivable

The Company grants trade credit to certain customers when business conditions warrant. Management's experience suggests that losses on accounts receivables are likely to be infrequent. As of December 31, 2022, the Company has accrued a reserve of $0 for doubtful accounts.

### Fixed Assets

The Company capitalizes assets with an expected useful life of one year or more, and an original purchase price of $1,000 or more. Depreciation is calculated on a straight-line basis over management's estimate of each asset's useful life.

### Advertising

The Company records advertising expenses in the year incurred.

### Related Party Transactions/Service Agreement

During 2019, the Company entered into a master service agreement ('MSA') to acquire services from an independent contractor, Xelpmoc Design and Tech Limited, which it intends to use to enhance its platform.

In late 2022, the agreement was amended, calling for $3,750 per employee under a monthly basis plus any applicable taxes, if any. The company will ensure that all the invoices are paid within 30 days from the date of the invoice or will be imposed a late fee charge. Future monthly payments due under the agreement are as follows:

2022- $3,750

2023- $3,750

2024- $3,750

In addition, the agreement term was extended until December 3, 2024. At the conclusion of the extended term, the Company will have the option to renew the term on a yearly basis.

6

# CATAILYST, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)

In conjunction with the agreement, the Company issued 375,000 shares of Class-B Common Stock at the par value of $0.01 or an aggregate purchase price of $3,750.

# Other Income

In 2022 and 2021, the Company received funding in the form of state-local grants and loans under the Paycheck Protection Program (“PPP”) and Massachusetts Life Sciences Center Intern Sponsorship Program. The PPP, established as part of the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), provided forgivable loans to qualifying businesses for amounts up to 2.5 times the average monthly payroll expenses of the qualifying business. The Small Business Administration (SBA) allows for cancellation of loans received under the PPP program, provided the borrower uses the loan proceeds for eligible expenses. Eligible expenses include payroll, benefits, rent, and utilities. Loan amounts that are not cancelled accrue interest at the rate of 1.00% per annum. PPP loan cancellations are generally not taxable to recipients and do not result in a reduction of deductible expenditures or other tax attributes. PPP loan proceeds have been recognized as an income grant as it was determined that there is “reasonable assurance” that the company met the conditions for forgiveness of the loan amount.

The Company has incentive agreements with the Massachusetts Life Sciences Center, which state that the company will offer employment to qualifying interns. In exchange for the commitment, the Company will be reimbursed on the basis of hours worked for each agreed stipend.

As of December 31, 2022, and 2021, the Company received funding through the following items, broken out by its respective year:

| Description (2022) | Amount Received |
| --- | --- |
| Intern Sponsorship Program (Reimbursement) | $23,541 |
| Total | $23,541 |

| Description (2021) | Amount Received |
| --- | --- |
| PPP Loan | $39,879 |
| Intern Sponsorship Program (Reimbursement) | 20,260 |
| Total | $60,139 |

# Revenue

ASC Topic 606, “Revenue from Contracts with Customers” establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: 1) identify the contract with a customer; 2) identify the performance obligations in the contract; 3) determine the transaction price; 4) allocate the transaction price to performance obligations in the contract; and 5) recognize revenue as the performance obligation is satisfied.

The Company recognized recurring revenues from its software platform.

7

# CATAILYST, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)---

### Equity Based Compensation

The Company accounts for stock options issued to employees under ASC 718 (Stock Compensation). Under ASC 718, share-based compensation cost to employees is measured at the grant date, based on the estimated fair value of the award, and is recognized as an item of expense ratably over the employee's requisite vesting period. The Company has elected early adoption of ASU 2018-07, which permits measurement of stock options at their intrinsic value, instead of their fair value. An option's intrinsic value is defined as the amount by which the fair value of the underlying stock exceeds the exercise price of an option. In certain cases, this means that option compensation granted by the Company may have an intrinsic value of $0.

The Company measures compensation expense for its non-employee stock-based compensation under ASC 505 (Equity). The fair value of the option issued or committed to be issued is used to measure the transaction, as this is more reliable than the fair value of the services received. The fair value is measured at the value of the Company's common stock on the date that the commitment for performance by the counterparty has been reached or the counterparty's performance is complete. The fair value of the equity instrument is charged directly to expense and credited to additional paid-in capital.

### Income Taxes

In December 2017, the Tax Cuts and Jobs Act (the 'Tax Act') was enacted into law and the new legislation contains several key tax provisions that affected the Company, including a reduction of the corporate income tax rate to 21% effective January 1, 2018, among others. The Company is required to recognize the effect of the tax law changes in the period of enactment, such as determining the transition tax, remeasuring deferred tax assets and liabilities, as well as reassessing the net realizability of our deferred tax assets and liabilities. The tax rate change had no impact to the Company's net loss as the Company has not incurred a tax liability or expense for the year ended December 31, 2022 and has a full valuation allowance against its net deferred tax assets.

The Company applies ASC 740 Income Taxes ('ASC 740'). Deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial statement reported amounts at each period end, based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The provision for income taxes represents the tax expense for the period, if any and the change during the period in deferred tax assets and liabilities. ASC 740 also provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. A tax benefit from an uncertain position is recognized only if it is 'more likely than not' that the position is sustainable upon examination by the relevant taxing authority based on its technical merit.

The Company is subject to tax filing requirements as a corporation in the federal jurisdiction of the United States. The Company sustained net operating losses during fiscal years 2022 and 2021. Net operating losses will be carried forward to reduce taxable income in future years. Due to management's uncertainty as to the timing and valuation of any benefits associated with the net operating loss carryforwards, the Company has elected to recognize an allowance to account for them in the financial statements, but has fully reserved it. Under current law, net operating losses may be carried forward indefinitely.

8

# CATAILYST, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)

The Company is subject to franchise tax filing requirements in the State of Delaware.

# Net Income Per Share

Net earnings or loss per share is computed by dividing net income or loss by the weighted-average number of common shares outstanding during the period, excluding shares subject to redemption or forfeiture. The Company presents basic and diluted net earnings or loss per share. Diluted net earnings or loss per share reflect the actual weighted average of common shares issued and outstanding during the period, adjusted for potentially dilutive securities outstanding. Potentially dilutive securities are excluded from the computation of the diluted net loss per share if their inclusion would be anti-dilutive.

# Recently Adopted Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board, or FASB, or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.

In November 2015, the FASB issued ASU (Accounting Standards Update) 2015-17, *Balance Sheet Classification of Deferred Taxes*, or ASU 2015-17. The guidance requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. For all entities other than public business entities, the guidance becomes effective for financial statements issued for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted for all entities as of the beginning of an interim or annual reporting period. The adoption of ASU 2015-17 had no material impact on the Company's financial statements and related disclosures.

In November 2016, the FASB issued ASU 2016-18, *Statement of Cash Flows (Topic 230)*, *Restricted Cash*, or ASU 2016-18. The amendments of ASU 2016-18 were issued to address the diversity in classification and presentation of changes in restricted cash and restricted cash equivalents on the statement of cash flows which is currently not addressed under Topic 230. ASU 2016-18 would require an entity to include amounts generally described as restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning of period and end of period total amounts on the statement of cash flows. This guidance is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2018 for non-public entities. Early adoption is permitted, and the standard must be applied retrospectively. The adoption of ASU 2016-18 had no material impact on the Company's financial statements and related disclosures.

In May 2014, the FASB issued ASU, 2014-09-*Revenue from Contracts with Customers (Topic 606)*, or ASU 2014-09, and further updated through ASU 2016-12, or ASU 2016-12, which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount to which an entity expects to be entitled to when products are transferred to customers. This guidance is effective for annual reporting periods, and interim periods within those years, beginning December 15, 2018 for non-public entities. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The adoption of ASU 2014-09 had no material impact on the Company's financial statements and related disclosures.

9

# CATAILYST, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)

In February 2016, the FASB issued ASU 2016-02, *Leases (Topic 842)*, or ASU 2016-02, which supersedes the guidance in ASC 840, *Leases*. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. This guidance is effective for annual reporting periods beginning after December 15, 2019 for non-public entities. The adoption of ASU 2016-02 had no material impact on the Company's financial statements and related disclosures.

In March 2016, the FASB issued ASU 2016-09, *Improvements to Employee Share-based Payment Accounting*, or ASU 2016-09. ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some of the areas of simplification apply only to non-public companies. This guidance was effective on December 31, 2016 for public entities. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted for an entity in any interim or annual period for which financial statements have not been issued or made available for issuance. An entity that elects early adoption must adopt all amendments in the same period. The adoption of ASU 2016-09 had no material impact on the Company's financial statements and related disclosures.

In May 2017, the FASB issued ASU 2017-09, *Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting*, or ASU 2017-09, which clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. This guidance is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2017, for both public entities and non-public entities. Early adoption is permitted. The adoption of ASU 2017-09 had no material impact on the Company's financial statements and related disclosures.

# NOTE D- DEBT

# Related Party Loan

The Company issued a series of related party notes payable in exchange for cash for the purpose of continuing operations ('the Related Party Loan'). The notes bear no interest and are payable at a future date to be determined by management.

# NOTE E- EQUITY

Under the Company's articles of incorporation, the Company is authorized to issue up to 10,375,000 shares of $0.01 par value Common Stock. Common Stock is divided into 10,000,000 shares of $0.01 par value Class-A Common Stock and 375,000 shares of $0.01 par value Class-B Common Stock.

10

# CATAILYST, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)

Class-A Common Stock: Class-A common shareholders have the right to vote on certain items of Company business at the rate of one vote per share of stock held. Common Stock ranks behind all issues of Preferred Stock in liquidation preference.

Class-B Common Stock: Class-B common shareholders have non-voting rights. Common Stock ranks behind all issues of Preferred Stock in liquidation preference.

Each share of Class-B Common Stock shall be convertible into one fully paid and nonassessable share of Class-A Common Stock at the option of the holder thereof at any time following the conclusion of time-based or other applicable vesting requirements, at the sole discretion of the Board of Directors.

As of December 31, 2022, the number of shares issued and outstanding by class was as follows:

| Class-A Common Stock | 625,000 |
| --- | --- |
| Class-B Common Stock | 375,000 |

# NOTE F- EQUITY BASED COMPENSATION

In 2022, the Board of Directors adopted the 2022 Equity Incentive Plan (the “Plan”). The Plan provides for the grant of various equity awards to employees, officers and consultants. Up to 500,000 shares of common stock may be issued pursuant to awards granted under the Plan. The Plan is administered by the Board of Directors, and expires ten years after adoption, unless terminated earlier by the Board. As of December 31, 2022, 481,500 shares remain issuable under the Plan.

During 2022 and 2021, the Company had 18,500 and 13,000 outstanding stock options. The granted options had an exercise price between $.07 or $.13, will expire in ten years, and vest over a four year-period. All issued stock options remain to be exercised.

As of 2022 and 2021, a portion of its outstanding stock options have vested amounting to 8,029. The Company measures the value of these options at their intrinsic value. The value of the stock did not exceed the exercise price upon these grants.

A summary of the Company’s stock options activity and related information is as follows:

|  | Number of Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term |
| --- | --- | --- | --- |
| 12/31/2020 Outstanding at December 31, 2020 | 13,000 | $0.13 | 10.00 |
| Granted |  |  |  |
| Expired/Forfeited |  |  |  |
| 12/31/2021 Outstanding at December 31, 2021 | 13,000 | - | 9.80 |
| Granted | 5,500 | 0.07 | 10.0 |
| Expired/Forfeited |  |  |  |
| 12/31/2022 Outstanding at December 31, 2022 | 18,500 | 0.07 | 9.80 |

11

# CATAILYST, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)

The stock options were valued using the Black-Scholes pricing model as indicated below:

|  | December 31, 2022 |
| --- | --- |
| Expected life (years) | 10.0 |
| Risk-free interest rate | 0.033% |
| Expected volatility | 10% |
| Annual dividend yield | 0% |

The risk-free interest rate assumption for options granted is based upon observed interest rates on the United States government securities appropriate for the expected term of the Company's employee stock options.

The expected term of employee stock options is based on a weighted average consideration of the Company's most likely exit prospects.

The Company determined the expected volatility assumption for options granted using the historical volatility of comparable public company's common stock. The Company will continue to monitor peer companies and other relevant factors used to measure expected volatility for future stock option grants, until such time that the Company's common stock has enough market history to use historical volatility.

The dividend yield assumption for options granted is based on the Company's history and expectation of dividend payouts. The Company has never declared or paid any cash dividends on its common stock, and the Company does not anticipate paying any cash dividends in the foreseeable future.

The Company recognizes stock option forfeitures as they occur as there is insufficient historical data to accurately determine future forfeitures rates.

#### NOTE G- FAIR VALUE MEASUREMENTS

Fair value is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based on the highest and best use of the asset or liability. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The Company uses valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized as follows:

*Level 1* - Observable inputs, such as quoted prices for identical assets or liabilities in active markets;

*Level 2* - Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly, such as quoted prices for similar assets or liabilities, or market-corroborated inputs; and

*Level 3* - Unobservable inputs for which there is little or no market data which require the reporting entity to develop its own assumptions about how market participants would price the assets or liabilities.

The valuation techniques that may be used to measure fair value are as follows:

*Market approach* - Uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

12

# CATAILYST, INC.  
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)

*Income approach* - Uses valuation techniques to convert future amounts to a single present amount based on current market expectations about those future amounts, including present value techniques, option-pricing models, and excess earnings method.

*Cost approach* - Based on the amount that currently would be required to replace the service capacity of an asset (replacement cost).

# NOTE H- CONCENTRATIONS OF RISK

Financial instruments that potentially subject the Company to credit risk consist of cash and cash equivalents. The Company places its cash and cash equivalents with a limited number of high-quality financial institutions and at times may exceed the amount of insurance provided on such deposits. The company faces concentration risks associated with customers. This stems from a selection of major customers.

# NOTE I- SUBSEQUENT EVENTS

Management considered events subsequent to the end of the period but before February 15, 2023, the date that the financial statements were available to be issued.

13

**Attachment 3:** `certificateofincorporation.pdf`

# Delaware

The First State

Page 1

I, JEFFREY W. BULLOCK, SECRETARY OF STATE OF THE STATE OF
DELAWARE, DO HEREBY CERTIFY THE ATTACHED IS A TRUE AND CORRECT
COPY OF THE RESTATED CERTIFICATE OF "CATAILYST INC.", FILED IN
THIS OFFICE ON THE NINETEENTH DAY OF AUGUST, A.D. 2019, AT 1:22
O'CLOCK P.M.

A FILED COPY OF THIS CERTIFICATE HAS BEEN FORWARDED TO THE
KENT COUNTY RECORDER OF DEEDS.

![img-0.jpeg](img-0.jpeg)

Jeffrey W. Bullock, Secretary of State

7445891 8100
SR# 20196583125

You may verify this certificate online at corp.delaware.gov/authver.shtml

Authentication: 203433613
Date: 08-19-19

State of Delaware
Secretary of State
Division of Corporations
Delivered 01:22 PM 08/19/2019
FILED 01:22 PM 08/19/2019
SR 20196583125 - File Number 7445891

# AMENDED AND RESTATED

# CERTIFICATE OF INCORPORATION

OF

CATAILYST INC.

(Pursuant to Sections 241 and 245 of the
General Corporation Law of the State of Delaware)

CatAllyst Inc., a corporation organized and existing under and by virtue of the provisions
of the General Corporation Law of the State of Delaware (the “General Corporation Law”),

# DOES HEREBY CERTIFY:

1. That the name of this corporation is CatAllyst Inc., and that this
corporation was originally incorporated pursuant to the General Corporation Law on May 31,
2019 under the name CatAllyst Inc.

2. The corporation has not received any payment for any of its stock.

3. That the Board of Directors of the corporation duly adopted resolutions
proposing to amend and restate the Certificate of Incorporation of this corporation, declaring said
amendment and restatement to be advisable and in the best interests of this corporation, which
resolution setting forth the proposed amendment and restatement is as follows:

RESOLVED, that the Certificate of Incorporation of this corporation be amended and
restated in its entirety to read as follows:

FIRST. The name of the corporation is: CatAllyst Inc.

SECOND. The address of its registered office in the State of Delaware is c/o Registered
Agent Solutions, Inc., 9 E. Loockerman Street, Suite 311, Dover, Kent County, Delaware 19901.
The name of its registered agent at such address is Registered Agent Solutions, Inc.

THIRD. The purpose of the corporation is to engage in any lawful act or activity for
which corporations may be organized under the Delaware General Corporation Law (the
“General Corporation Law”).

FOURTH: The total number of shares of all classes of stock which the Corporation shall
have authority to issue is (i) 10,000,000 shares of Class A Common Stock, $0.01 par value per
share (the “Class A Common Stock”) and (ii) 375,000 shares of Class B Common Stock, $0.01
par value per share (the “Class B Common Stock”). The Class A Common Stock and the Class
B Common Stock are referred to collectively as the “Common Stock”.

{M1401503.5}

1

The following is a statement of the designations and the powers, privileges and rights, and the qualifications, limitations or restrictions thereof in respect of each class of capital stock of the Corporation.

# A. CLASS A COMMON STOCK

1. Dividends. The holders of the Class A Common Stock shall be entitled to receive, share for share with the holders of the shares of Class B Common Stock, such dividends, if, as and when declared from time to time by the Board of Directors. In the event that such dividend is paid in the form of shares of Common Stock, holders of Class A Common Stock shall receive Class A Common Stock.

2. Voting. Each holder of Class A Common Stock shall be entitled to one (1) vote for each share of Class A Common Stock held as of the applicable date on any matter that is submitted to a vote or for the consent of the stockholders of the Corporation. Except as otherwise provided herein or by the General Corporation Law of the State of Delaware, the holders of the Class A Common Stock and the holders of the Class B Common Stock shall at all times vote on all matters (including the election of directors) together as one class. There shall be no cumulative voting. The number of authorized shares of Class A Common Stock or Class B Common Stock, as applicable, may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of shares of capital stock of the Corporation representing a majority of the votes represented by all outstanding shares of capital stock of the Corporation entitled to vote, irrespective of the provisions of Section 242(b)(2) of the General Corporation Law.

# B. CLASS B COMMON STOCK

1. Dividends. The holders of the Class B Common Stock shall be entitled to receive, share for share with the holders of the shares of Class A Common Stock, such dividends, if, as and when declared from time to time by the Board of Directors. In the event that such dividend is paid in the form of shares of Common Stock, holders of Class B Common Stock shall receive Class B Common Stock.

2. Voting. Each holder of Class B Common Stock shall be entitled to vote only in regard to such matters as may be required by law. Except as otherwise provided herein or by the General Corporation Law of the State of Delaware, the holders of the Class B Common Stock and the holders of the Class A Common Stock shall at all times vote on all matters (including the election of directors) together as one class. There shall be no cumulative voting. The number of authorized shares of Class A Common Stock or Class B Common Stock, as applicable, may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of shares of capital stock of the Corporation representing a majority of the votes represented by all outstanding shares of capital stock of the Corporation entitled to vote, irrespective of the provisions of Section 242(b)(2) of the General Corporation Law.

{M1401503.5}

2

3. Conversion. Each share of Class B Common Stock shall be convertible into one fully paid and nonassessable share of Class A Common Stock at the option of the holder thereof at any time following the conclusion of time-based or other applicable vesting restrictions, as determined in the sole discretion of the Board of Directors of the corporation.

**FIFTH.** The corporation is to have perpetual existence.

**SIXTH.** In furtherance of and not in limitation of the powers conferred by the State of Delaware, it is further provided:

(a) The Board of Directors of the corporation is expressly authorized to make, alter or repeal the Bylaws of the corporation, subject only to such limitation, if any, as may be from time to time imposed by law or by the Bylaws.
(b) Election of directors need not be by written ballot unless the Bylaws of the corporation shall so provide.
(c) The books of the corporation may be kept at such place within or without the State of Delaware as the Bylaws of the corporation may provide or as may be designated from time to time by the Board of Directors of the corporation.

**SEVENTH.** No director of the corporation shall be personally liable to the corporation or to any of its stockholders for monetary damages for breach of fiduciary duty as a director, notwithstanding any provision of law imposing such liability; *provided, however*, that to the extent required from time to time by applicable law, this provision shall not eliminate or limit the liability of a director, to the extent such liability is provided by applicable law, (i) for any breach of the director's duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of Title 8 of the Delaware Code, or (iv) for any transaction from which the director derived an improper personal benefit. No amendment to or repeal of this provision shall apply to or have any effect on the liability or alleged liability of any director for or with respect to any acts or omissions of such director occurring prior to the effective date of such amendment or repeal.

**EIGHTH.** The number of authorized shares of any class or classes of stock of the Corporation may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the stock of the Corporation entitled to vote in accordance with the terms of the last sentence of Section 242(b)(2) of the Delaware General Corporation Law and irrespective of the terms contained in the remainder of said Section 242(b)(2).

**NINTH.** The corporation reserves the right to amend or repeal any provision contained in this Certificate of Incorporation, in the manner now or hereafter prescribed by statute and the Certificate of Incorporation of the corporation, and all rights conferred upon stockholders herein are granted subject to this reservation.

**TENTH.** The corporation shall indemnify each person who at any time is, or shall have been, a director or officer of the corporation and was or is a party, or is threatened to be

{M1401503.5}

3

made a party, to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he or she is or was a director or officer of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement incurred in connection with any such action, suit or proceeding, to the maximum extent permitted by the General Corporation Law of the State of Delaware, as the same exists or may hereafter be amended; provided, however, that the foregoing shall not require the corporation to indemnify or advance expenses to any person in connection with any action, suit, proceeding, claim or counterclaim initiated by or on behalf of such person. The foregoing right of indemnification shall in no way be exclusive of any other rights of indemnification to which any such director or officer may be entitled, whether under any by-law, agreement, vote of directors or stockholders or otherwise. No amendment to or repeal of this provision shall deprive a director or officer of the benefit hereof with respect to any act or failure to act occurring prior to such amendment or repeal. In furtherance of and not in limitation of the foregoing, the corporation shall advance expenses, including attorneys' fees, incurred by a director or officer of the corporation in defending any civil, criminal, administrative or investigative action, suit or proceeding in advance of the final disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of such director or officer to repay such advances if it shall be ultimately determined that he or she is not entitled to be indemnified by the corporation.

[remainder of page intentionally left blank]

{M1401503.5}

4

The undersigned, does hereby make, file and record this Amended and Restated Certificate of Incorporation, and does certify that the facts herein stated are true, and the undersigned has accordingly hereunto set his hand this 19th day of August, 2019.

/s/Charles C. Pascal
Charles C. Pascal, Incorporator

[M1401503.5]

5

**Attachment 4:** `corporatebylaws.pdf`

# CatAllyst Inc.

(the “*Corporation*”)

## BYLAWS

### ARTICLE I

#### Offices

1. **Offices.** The Corporation may have offices at such places, both within and without the State of Delaware, as the board of directors of the Corporation (the “*Board of Directors*”) from time to time shall determine or the business of the Corporation may require.

### ARTICLE II

#### Stockholders

1. **Annual Meeting.** The annual meeting of stockholders shall be held each year at the place, date and time determined by the Board of Directors or the President. The purposes for which the annual meeting is to be held, in addition to those prescribed by the Delaware General Corporation Law (the “DGCL”), by the Certificate of Incorporation (as may be amended or restated from time to time, the “*Certificate of Incorporation*”) or by these Bylaws, may be specified by the Board of Directors or the President. If no annual meeting has been held in any fiscal year, a special meeting in lieu thereof may be held or there may be action by written consent of the stockholders on matters to be voted on at the annual meeting, and such special meeting or written consent shall have for the purposes of these Bylaws or otherwise all the force and effect of an annual meeting.

2. **Special Meetings.** Special meetings of stockholders may be called by the President, the Chief Executive Officer or by the Board of Directors. Upon written application of one or more stockholders who hold at least a majority in interest of the capital stock entitled to vote at a meeting of stockholders, special meetings shall be called by the Secretary, or in case of death, absence, incapacity or refusal of the Secretary, by any other officer of the Corporation. The call for the meeting shall state the place (if any), date, hour and purposes of the meeting. Only the purposes specified in the notice of special meeting shall be considered or dealt with at such special meeting.

3. **Place of Meeting.** Meetings of stockholders may be held at such place, either within or without the State of Delaware, as may be determined by the Board of Directors. The Board of Directors may, in its sole discretion, determine that the meeting shall not be held at any place, but may instead be held solely by means of remote communication. The Board of Directors may also, in its sole discretion, determine that stockholders and proxy holders may attend and participate by means of remote communication in a stockholder meeting held at a designated place. As to any meeting where attendance and participation by remote communication is authorized by the Board of Directors in its sole discretion (including any meeting held solely by remote communication), and subject to such guidelines and procedures as the Board of Directors

{M1397796.2}  
CatAllyst Inc.  
Bylaws

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may adopt for any meeting, stockholders and proxy holders not physically present at such meeting shall be entitled to: (i) participate in such meeting, and (ii) be deemed present in person and vote at such meeting whether such meeting is to be held at a designated place or solely by means of remote communication, provided that (A) the Corporation shall implement reasonable measures to verify that each person deemed present and permitted to vote at the meeting by means of remote communication is a stockholder or proxy holder, (B) the Corporation shall implement reasonable measures to provide stockholders and proxy holders a reasonable opportunity to participate in the meeting and to vote on matters submitted to the stockholders, including an opportunity to read or hear the proceedings substantially concurrently with such proceedings, and (C) if any stockholder or proxy holder votes or takes other action at the meeting by means of remote communication, a record of such vote or other action shall be maintained by the Corporation.

4. **Notice of Meetings.** Except as otherwise provided by the DCCL or the Certificate of Incorporation, notice given in writing or by electronic transmission of each meeting of stockholders shall be given to each stockholder entitled to vote at such meeting not less than ten (10) nor more than sixty (60) days before the date of the meeting, such notice to specify the place, if any, date and hour and purpose or purposes of the meeting and the means of remote communications, if any, by which stockholders and proxy holders may be deemed to be present in person and vote at such meeting. Without limiting the manner by which notice otherwise may be given to stockholders, any notice shall be effective if given by a form of electronic transmission (in a manner consistent with the DGCL), and such notice shall be deemed to be given at the time, if delivered by electronic mail when directed to an electronic mail address at which the stockholder has consented to receive notice, and if delivered by any other form of electronic transmission, when directed to the stockholder. Notice of the time, place, if any, and purpose of any meeting of stockholders may be waived (i) in writing signed by the person entitled to notice thereof or (ii) by electronic transmission made by the person entitled to notice, either before or after such meeting. Notice of any meeting will be waived by any stockholder by his attendance thereat in person, by remote communication, or by proxy, except when the stockholder attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Any stockholder so waiving notice of such meeting shall be bound by the proceedings of any such meeting in all respects as if due notice thereof had been given.

5. **Quorum.** The holders of a majority of the voting power of all shares of capital stock issued, outstanding and entitled to vote at a meeting shall constitute a quorum. Any meeting may be adjourned from time to time by the holders of a majority of the votes properly cast upon the question, whether or not a quorum is present. The stockholders present at a duly constituted meeting may continue to transact business until adjournment notwithstanding the withdrawal of enough stockholders to reduce the voting shares below a quorum. At any such adjourned meeting at which there is a quorum, any business may be transacted that might have been transacted at the meeting originally called.

6. **Voting and Proxies.** Stockholders shall have one vote for each share of stock entitled to vote owned by them of record according to the books of the Corporation unless otherwise provided by the DGCL or by the Certificate of Incorporation. Stockholders may vote either in person or by written proxy or express directly or by written proxy their consent or dissent to a corporate action taken without a meeting, but no proxy shall be voted or acted upon after three

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years from its date, unless the proxy provides for a longer period or is irrevocable and coupled with an interest. Proxies shall be filed with the secretary of the meeting, or of any adjournment thereof. Except as otherwise limited therein, proxies shall entitle the persons authorized thereby to vote at any adjournment of such meeting. A stockholder may revoke any proxy which is not irrevocable by attending the meeting and voting in person or by delivering to the Secretary of the Corporation a revocation of the proxy or a new proxy bearing a later date.

7. **Action at a Meeting.** When a quorum is present, any matter before the meeting shall be decided by vote of the holders of a majority of the voting power of the shares of stock voting on such matter except where a larger vote is required by the DGCL, by the Certificate of Incorporation or by these Bylaws. Any election of Directors by stockholders shall be determined by a plurality of the votes cast, except where a larger vote or different vote is required by the DGCL, by the Certificate of Incorporation or by these Bylaws. The Corporation shall not directly or indirectly vote any share of its own stock or stock held in treasury unless permitted by the DGCL; provided, however, that the Corporation may vote shares which it holds in a fiduciary or other capacity to the extent permitted by the DGCL.

8. **Action without a Meeting.** Unless otherwise restricted by the Certificate of Incorporation or these Bylaws, any action required or permitted by the DGCL to be taken at any annual or special meeting of stockholders may be taken without a meeting, without prior notice and without a vote (a) if a consent or consents thereto in writing setting forth the action so taken, shall be signed by the holders of all of the outstanding shares of stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted and shall be delivered to the Corporation by delivery to its registered office, by hand or by first class mail, postage prepaid, or certified mail, return receipt requested (or other form of notice permitted by these Bylaws) or to the Corporation’s principal place of business or to the officer of the Corporation having custody of the minute book, or (b) by electronic transmission setting forth the action so taken made by the holders of all of the outstanding shares of stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted. Every written consent or electronic transmission shall bear the date of signature or proper identity of the stockholder, respectively, and no written consent or electronic transmission shall be effective unless, within sixty (60) days of the earliest dated consent or electronic transmission delivered pursuant to these Bylaws, written consents signed, or electronic transmissions made, by a sufficient number of stockholders entitled to take action are delivered to the Corporation in the manner set forth in these Bylaws. Prompt notice of the taking of corporate action without a meeting by less than unanimous written consent or electronic transmission shall be given to those stockholders who have not consented in writing.

9. **Stockholder Lists.** The officer who has charge of the stock ledger of the Corporation shall prepare and make, at least ten (10) days before every meeting of stockholders, a complete list of the stockholders entitled to vote at the meeting, arranged in alphabetical order, and showing the address of record of each stockholder and the number of shares registered in the name of each stockholder; provided that such list shall not be required to contain the electronic mail address or other electronic contact information of any stockholder. Such list shall be open to the examination of any stockholder, for any purpose germane to the meeting, for a period of at least ten (10) days prior to the meeting, either (i) on a reasonably accessible electronic network, provided that the information required to gain access to such list is provided with the notice of

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the meeting, or (ii) during ordinary business hours, at the principal place of business of the Corporation. If the meeting is to be held at a place, the list shall also be produced and kept at the time and place of the meeting during the whole time thereof, and may be inspected by any stockholder who is present. If the meeting is to be held solely by means of electronic communication or if attendance at and participation in the meeting is permitted by means of remote communication, then the list shall also be open to the examination of any stockholder during the whole time of the meeting on or a reasonably acceptable electronic network, and the information required to access such list shall be provided with the notice of the meeting.

10. Conduct of Meetings. The Board of Directors may adopt by resolution such rules and regulations for the conduct of the meeting of the stockholders as it shall deem appropriate. At every meeting of stockholders, the Chief Executive Officer or the President, or in his or her absence or inability to act, the person whom the Chief Executive Officer or President shall appoint, shall act as chairman of, and preside at, the meeting. The Secretary (or any Assistant Secretary) of the Corporation or, in his or her absence or inability to act, the person whom the chairman of the meeting shall appoint as secretary of the meeting, shall act as Secretary of the meeting and keep the minutes thereof. Except to the extent inconsistent with such rules and regulations as adopted by the Board of Directors, the chairman of any meeting of the stockholders shall have the right and authority to prescribe such rules, regulations and procedures and to do all such acts as, in the judgment of such chairman, are appropriate for the proper conduct of the meeting. Such rules, regulations or procedures, whether adopted by the Board of Directors or prescribed by the chairman of the meeting, may include, without limitation, the following: (a) the establishment of an agenda or order of business for the meeting; (b) the determination of when the polls shall open and close for any given matter to be voted on at the meeting; (c) rules and procedures for maintaining order at the meeting and the safety of those present; (d) limitations on attendance at or participation in the meeting to stockholders of record of the Corporation, their duly authorized and constituted proxies or such other persons as the chairman of the meeting shall determine; (e) restrictions on entry to the meeting after the time fixed for the commencement thereof; and (f) limitations on the time allotted to questions or comments by participants.

### ARTICLE III

#### Directors

1. Powers. The business of the Corporation shall be managed by or under the direction of a Board of Directors who may exercise all the powers of the Corporation except as otherwise provided by the DGCL, by the Certificate of Incorporation, or by these Bylaws. The Board of Directors may adopt such rules and procedures, not inconsistent with the Certificate of Incorporation, these Bylaws or applicable law, as it may deem proper for the conduct of its meetings and the management of the Corporation. In the event of a vacancy in the Board of Directors, the remaining Directors, except as otherwise provided by the DGCL, may exercise the powers of the full Board of Directors until the vacancy is filled.

2. Election and Qualification. Unless otherwise provided in the Certificate of Incorporation or in these Bylaws, the number of Directors which shall constitute the whole Board of Directors shall be determined by vote of the stockholders at the annual meeting. Directors need not be stockholders.

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3. Vacancies: Reduction of Board. Unless otherwise provided in the Certificate of Incorporation or unless otherwise determined by vote of the stockholders, a majority of the Directors then in office, although less than a quorum, or a sole remaining Director, may fill vacancies in the Board of Directors occurring for any reason and newly-created directorships resulting from any increase in the authorized number of Directors. The Board of Directors may increase the number of Directors at any time and appoint persons to fill any newly-created directorships. Unless otherwise provided in the Certificate of Incorporation, in lieu of filling any such vacancy, the stockholders may reduce the number of Directors by action at any meeting of stockholders or by written consent in lieu if such meeting.

4. Enlargement of the Board. The Board of Directors may be enlarged by the stockholders at any meeting or by vote of a majority of the Directors then in office.

5. Tenure. Except as otherwise provided by the DGCL, by the Certificate of Incorporation or by these Bylaws, Directors shall hold office until their successors are duly elected and qualified or until their earlier resignation or removal. Any Director may resign by delivering his written resignation to the Corporation by any means of notice provided in these Bylaws or the Certificate of Incorporation. Such resignation shall be effective upon receipt unless it is specified to be effective at some other time or upon the happening of some other event.

6. Removal. To the extent permitted by the DGCL, a Director may be removed from office with or without cause by vote of the holders of a majority of the shares of stock entitled to vote in the election of such Director. A Director may be removed for cause only after reasonable notice and opportunity to be heard before the body proposing to remove him.

7. Meetings. Regular meetings of the Board of Directors may be held at such time, date and place (if any) as the Board of Directors may from time to time determine, but no less often than quarterly, at the headquarters of the Corporation (unless the Board of Directors shall select another location) or by conference telephone call. Special meetings of the Board of Directors may be called, orally or in writing, by the Chief Executive Officer, the President or by any Director (or the sole Director, as applicable), designating the time, date and place (if any) thereof on two (2) business days prior notice. Directors may participate in meetings of the Board of Directors by means of conference telephone or similar communications equipment by means of which all Directors participating in the meeting can hear each other, and participation in a meeting in accordance therewith shall constitute presence in person at such meeting.

8. Notice of Meetings. Notice of the time, date and place (if any) of all special meetings of the Board of Directors shall be given to each Director by the President, the Chief Executive Officer, the Secretary, or any Assistant Secretary, or in case of the death, absence, incapacity or refusal of such persons, by the officer or one of the Directors calling the meeting. Notice shall be given to each Director in person or by telephone, including a voice messaging system or other system or technology designed to record and communicate messages, facsimile, telegraph, facsimile transmission or PDF (portable document format), or by electronic mail or other electronic means, during normal business hours, at least two (2) business days in advance of the meeting. Notice need not be given to any Director if a written waiver of notice is executed by him before or after the meeting, or if communication with such Director is unlawful, and will be waived by any Director by attendance thereat, except when the Director attends the meeting for

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the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. A notice or waiver of notice of a meeting of the Board of Directors need not specify the purposes of the meeting.

9. Quorum. At any meeting of the Board of Directors, a majority of the Directors then in office shall constitute a quorum.

10. Action at Meeting. At any meeting of the Board of Directors at which a quorum is present, a majority of the Directors present may take any action on behalf of the Board of Directors, unless otherwise provided by the DGCL, by the Certificate of Incorporation or by these Bylaws.

11. Action without a Meeting. Unless otherwise restricted by the Certificate of Incorporation or these Bylaws, any action required or permitted to be taken at any meeting of the Board of Directors or committee thereof may be taken without a meeting if all members of the Board of Directors or committee thereof consent thereto in writing or by electronic transmission, and such writings or electronic transmissions are filed with the records of the meetings of the Board of Directors or committee thereof. Such filing may be in paper form if the minutes are maintained in paper form and may be in electronic form if the minutes are maintained in electronic form. The consents (and transmission thereof) shall be valid whether executed and delivered via electronic or facsimile transmission, PDF, hand delivery, or other means. Such consent shall be treated as a valid and proper vote of the Board of Directors or committee thereof for all purposes.

12. Committees. The Board of Directors, by vote of a majority of the Directors then in office, may establish one or more committees, each committee to consist of one or more Directors, and may delegate thereto some or all of its powers except those which by the DGCL, by the Certificate of Incorporation, or by these Bylaws may not be delegated. Except as the Board of Directors may otherwise determine, any such committee may make rules for the conduct of its business, but in the absence of such rules, its business shall be conducted so far as possible in the same manner as is provided in these Bylaws for the Board of Directors. All members of such committees shall hold their committee offices at the pleasure of the Board of Directors, and the Board may abolish any committee at any time. Each such committee shall report its action to the Board of Directors who shall have power to rescind any action of any committee, other than the Compensation Committee, without retroactive effect.

13. Protection of Confidential Information; Recusal for Conflicts of Interest. Each Director acknowledges that as part of his or her service to the Corporation and the exercise of his or her fiduciary duties on behalf of the Corporation, the Director may receive from the Corporation confidential information of the Corporation (and of its customers, strategic partners, joint venture partners, vendors and suppliers). This confidential information includes, without limitation, nonpublic financial information, business and market strategy reports and presentations, pricing information, development activities and new projects, material contracts, plans and strategies (including reports and presentations to the Board of Directors), invention disclosures, patentable and unpatentable inventions, technical specifications and information and other data, unpublished patent or invention disclosures, blueprints, marketing reports, technical specifications and data, and information on competitors of the Corporation and/or its strategic partners (whether in hard copy or electronic media). No Director shall use or disclose such

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confidential information for any purpose other than to promote and serve the best interests of the Corporation and its stockholders. The executive officers and the Board of Directors may limit or restrict the information to be provided to any Director in order to protect sensitive or competitive information. A majority of the disinterested members of the Board of Directors shall have the right to exclude any Director from portions of meetings of the Board of Directors (or any Committee) or omit to provide the Director with certain information if such members of the Board of Directors believe in good faith and with the exercise of due care that such exclusion or omission is necessary (a) in order to preserve the Corporation’s attorney-client privilege, (b) in order to fulfill the Corporation’s obligations with respect to confidential or proprietary information of third parties, or to protect the confidentiality of unpatentable information or competitive business information of the Corporation (or its customers, strategic partners, joint venture partners, vendors and suppliers), or (c) because such meeting or information would include information, analyses or discussions which could pose a potential conflict of interest for the Director (or his or her affiliated organization or entity) and the business, operations, affairs or prospects of the Corporation.

## ARTICLE IV

### Officers

1. **Enumeration.** The officers of the Corporation shall consist of a Chief Executive Officer, a President, a Treasurer, a Secretary and such other officers, including one or more Vice Presidents, Assistant Treasurers and Assistant Secretaries, as the Board of Directors may determine.

2. **Election.** The Chief Executive Officer, President, Treasurer and Secretary shall be elected bi-annually by the Board of Directors at their first meeting following the annual meeting of stockholders. Other officers may be chosen by the Board of Directors at such meeting or at any other meeting.

3. **Qualification.** No officer need be a stockholder or Director. Any two or more offices may be held by the same person.

4. **Tenure.** Except as otherwise provided by the Certificate of Incorporation or by these Bylaws, each of the officers of the Corporation shall hold his office until his successor is duly elected and qualified or until his earlier resignation or removal. Any officer may resign by delivering his written resignation to the Corporation, and such resignation shall be effective upon receipt unless it is specified to be effective at some other time or upon the happening of some other event.

5. **Removal.** The Board of Directors may remove any officer with or without cause by a vote of a majority of the entire number of Directors then in office.

6. **Vacancies.** Any vacancy in any office may be filled for the unexpired portion of the term by the Board of Directors.

7. **Chairman.** The Chairman of the Board, if one is elected, shall preside, when present, at all meetings of the stockholders and of the Board of Directors. The Chairman of the Board

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shall have such other powers and perform such other duties as the Board of Directors may from time to time designate.

8. **President and Vice Presidents.** The President may also be the Chief Executive Officer or chief operating officer of the Corporation and shall have general charge of its business operations, subject to the direction of the Board of Directors. In the absence of a Chairman, the President or the Chief Executive Officer shall preside, when present, at all meetings of stockholders and the Board of Directors. The Board of Directors shall have the authority to appoint a temporary presiding officer to serve at any meeting of the stockholders or Board of Directors if the President or the Chief Executive Officer is unable to do so for any reason.

Any Vice President shall have such powers and shall perform such duties as the Board of Directors may from time to time designate. In the absence of the President or in the event of his inability or refusal to act, the Vice President (or in the event there be more than one Vice President, the Vice Presidents in the order designated by the Board of Directors, or in the absence of any designation, then in the order of their election) shall perform the duties of the President, and when so acting, shall have all the powers and responsibilities of, and be subject to all the restrictions upon, the President.

9. **Treasurer and Assistant Treasurers.** The Treasurer shall, subject to the direction of the Board of Directors, have general charge of the financial affairs of the Corporation and shall cause to be kept accurate books of account. The Treasurer shall have custody of all funds, securities, and valuable documents of the Corporation, except as the Board of Directors may otherwise provide.

Any Assistant Treasurer shall have such powers and perform such duties as the Board of Directors may from time to time designate.

10. **Secretary and Assistant Secretaries.** The Secretary shall record the proceedings of all meetings of the stockholders and the Board of Directors in books kept for that purpose. In his absence from any such meeting, an Assistant Secretary, or if he is absent, a temporary secretary (Secretary Pro Tempore) chosen at the meeting, shall record the proceedings thereof.

The Secretary shall have charge of the stock ledger (which may, however, be kept by any transfer or other agent of the Corporation) and shall have such other duties and powers as may be designated from time to time by the Board of Directors or the President. Any Assistant Secretary shall have such powers and perform such duties as the Board of Directors may from time to time designate.

11. **Other Powers and Duties.** Subject to these Bylaws, each officer of the Corporation shall have in addition to the duties and powers specifically set forth in these Bylaws, such duties and powers as are customarily incident to his office, and such duties and powers as may be designated from time to time by the Board of Directors, the President or the Chief Executive Officer.

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# ARTICLE V

# Capital Stock

1. Certificates of Stock. Unless the Board of Directors has provided by resolution that some or all of any or all classes or series of stock of the Corporation shall be uncertificated shares, each stockholder shall be entitled to a certificate of stock of the Corporation in such form as may from time to time be prescribed by the Board of Directors. Such certificate shall be signed by the Chairperson or Vice-Chairperson of the Board of Directors or the President or a Vice President and by the Treasurer or an Assistant Treasurer or the Secretary or an Assistant Secretary. Such signatures may be delivered by facsimile or electronic transmission. In case any officer, transfer agent or registrar who has signed or whose facsimile signature has been placed on such certificate shall have ceased to be such officer, transfer agent or registrar before such certificate is issued, it may be issued by the Corporation with the same effect as if he were such officer, transfer agent or registrar at the time of its issue. Every certificate for shares of stock which are subject to any restriction on transfer and every certificate issued when the Corporation is authorized to issue more than one class or series of stock shall contain such legend with respect thereto as is required by the DGCL or regulation. The Corporation shall, at the option of the Board of Directors or as otherwise stated in the Certificate of Incorporation, be permitted to issue fractional shares.

2. Transfers. Subject to the discretion of the Board of Directors and any restrictions on transfer set forth in these Bylaws (such as Article VII), shares of stock may be transferred on the books of the Corporation by the surrender to the Corporation or its transfer agent of the certificate therefor, properly endorsed or accompanied by a written assignment or power of attorney properly executed, with transfer stamps (if necessary) affixed, and with such proof of the authenticity of signature as the Corporation or its transfer agent may reasonably require. The restrictions on transfer in these Bylaws shall not apply at such time as the Corporation becomes a publicly-traded corporation.

3. Record Holders. Except as may otherwise be required by the DGCL, by the Certificate of Incorporation or by these Bylaws, the Corporation shall be entitled to treat the record holder of stock as shown on its books as the owner of such stock for all purposes, including the payment of dividends and the right to vote with respect thereto, regardless of any transfer, pledge or other disposition of such stock, until the shares have been transferred on the books of the Corporation in accordance with the requirements of these Bylaws, the DGCL or the Certificate of Incorporation. It shall be the duty of each stockholder to notify the Corporation of his post office address.

4. Record Date. In order that the Corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders or any adjournment thereof, or to consent to corporate action in writing without a meeting, or entitled to receive payment of any dividend or other distribution or allotment of any rights, or entitled to exercise any rights in respect of any change, conversion or exchange of stock or for the purpose of any other lawful action, the Board of Directors may fix, in advance, a record date, which shall not precede the date on which it is established, and which shall not be more than sixty (60) nor less than ten (10) days before the date of such meeting, more than ten (10) days after the date on which the resolution fixing the record date for stockholder consent without a meeting is established, nor more than sixty (60)

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days prior to any other action. In such case, only stockholders of record on such record date shall be so entitled notwithstanding any transfer of stock on the books of the Corporation after the record date.

If no record date is fixed, (a) the record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business on the day next preceding the day on which notice is given, or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held, (b) the record date for determining stockholders entitled to consent to corporate action in writing without a meeting, when no prior action by the Board of Directors is necessary, shall be the first date on which a signed written consent setting forth the action taken or proposed to be taken is delivered to the Corporation by delivery to its registered office in the state of Delaware, to its principal place of business, or to an officer or agent of the Corporation having custody of the book in which proceedings of meetings of stockholders are recorded, and (c) the record date for determining stockholders for any other purpose shall be at the close of business on the day on which the Board of Directors adopts the resolution relating thereto.

5. Replacement of Certificates. In case of the alleged loss, destruction or mutilation of a certificate of stock, a duplicate certificate may be issued in place thereof, upon such terms as the Board of Directors may prescribe, including an indemnity of the Corporation in the event of any lost, stolen, mutilated or destroyed certificate.

## ARTICLE VI

### Indemnification

1. Indemnification of Directors and Officers. In addition to and not in conflict of the indemnification provisions of the Certificate of Incorporation, the Corporation shall indemnify and hold harmless, to the fullest extent permitted by the DGCL and the Certificate of Incorporation, any person who was or is a party or is threatened to be made a party to or is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative, investigative or otherwise, and whether by or in the right of the Corporation, its stockholders, a third party or otherwise (any of the foregoing, a “*Proceeding*”), by reason of the fact that he, or a person for whom he is the legal representative, is or was a Director or officer of the Corporation, or is or was a Director or officer of the Corporation serving at its request as a Director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, whether the basis of such Proceeding is alleged action in an official capacity as a Director, officer or trustee or in any other capacity while serving as a Director, officer or trustee, against all expense (including, but not limited to, attorneys’ fees), liability, loss, judgments, fines, excise taxes, penalties and amounts paid in settlement actually and reasonably incurred by him in connection with such Proceeding, including expenses incurred in seeking such indemnification. In addition, the Corporation shall grant such indemnification to each of its Directors and officers with respect to any matter in a Proceeding as to which his liability is limited pursuant to the Certificate of Incorporation of the Corporation. However, such indemnification shall exclude (i) indemnification with respect to any improper personal benefit which a Director or officer is determined to have received and of the expenses of defending against an improper personal benefit claim unless the Director or officer is successful on the merits in said defense, (ii) but shall specifically include

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indemnification of present or former officers, Directors, employees or agents of a constituent corporation absorbed in a merger or consolidation transaction with this Corporation with respect to their activities prior to said transaction. Such indemnification shall include prompt payment of expenses reasonably incurred by a Director or officer in defending a Proceeding in advance of the final disposition of such Proceeding, upon receipt of an undertaking by or on behalf of the Director or officer to repay such amounts if it shall ultimately be determined that he is not entitled to be indemnified by the Corporation under this Article, which undertaking shall be an unsecured general obligation of the Director or officer and may be accepted without regard to his or her ability to make repayment.

2. Right of Indemnitee to Bring Suit. If a claim under this Article is not paid in full by the Corporation within sixty (60) days after a written claim has been received by the Corporation, except in the case of a claim for an advancement of expenses, in which case the applicable period shall be twenty (20) days, the indemnitee may at any time thereafter bring suit against the Corporation to recover the unpaid amount of the claim. To the fullest extent permitted by the DGCL, if successful in whole or in part in any such suit, or in a suit brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the indemnitee shall be entitled to be paid also the expense of prosecuting or defending such suit. In any suit brought by the indemnitee to enforce a right to indemnification hereunder (but not in a suit brought by the indemnitee to enforce a right to an advancement of expenses) it shall be a defense that the indemnitee has not met any applicable standard for indemnification set forth in the DGCL. Furthermore, in any suit brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the Corporation shall be entitled to recover such expenses upon a final adjudication that the indemnitee has not met any applicable standard for indemnification set forth in the DGCL. Neither the failure of the Corporation (including its Directors who are not parties to such action, a committee of such Directors, independent legal counsel, or its stockholders) to have made a determination prior to the commencement of such suit that indemnification of the indemnitee is proper in the circumstances because the indemnitee has met the applicable standard of conduct set forth in the DGCL, nor an actual determination by the Corporation (including its Directors who are not parties to such action, a committee of such Directors, independent legal counsel, or its stockholders) that the indemnitee has not met such applicable standard of conduct, shall create a presumption that the indemnitee has not met the applicable standard of conduct or, in the case of such a suit brought by the indemnitee, be a defense to such suit. In any suit brought by the indemnitee to enforce a right to indemnification or to an advancement of expenses hereunder, or brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the burden of proving that the indemnitee is not entitled to be indemnified, or to such advancement of expenses, under this Article or otherwise shall be on the Corporation.

Notwithstanding anything contained to the contrary in these Bylaws, no potential indemnitee shall be entitled to advancement of expenses under these Bylaws, unless authorized by a majority of the disinterested members of the Board of Directors, in any action involving a Proceeding by the Corporation directly against the indemnitee where the Corporation is seeking damages against the indemnitee for any claim by the Corporation against the indemnitee involving a breach of fiduciary duty of the indemnitee to the Corporation, or gross negligence, bad faith, intentional or reckless misconduct, unlawful conduct or other forms of misconduct by the indemnitee.

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3. Indemnification of Employees and Agents. The Corporation may, to the extent authorized from time to time by the Board of Directors, grant rights to indemnification and to an advancement of expenses, pursuant to the provisions of this Article, to any person who was or is a party or is threatened to be made a party to or is otherwise involved in any Proceeding by reason of the fact that he is or was an employee or agent of the Corporation or is or was serving at the request of the Corporation, as a Director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise.

4. Nature of Indemnification Rights. The indemnification rights provided in this Article shall be a contract right and shall not be deemed exclusive of any other rights to which any person, whether or not entitled to be indemnified hereunder, may be entitled by the DGCL or under any bylaw, agreement, vote of stockholders or Directors or otherwise, both as to action in his official capacity and as to action in another capacity while holding such office, and shall continue as to a person who has ceased to be a Director, officer, employee or agent and inure to the benefit of the heirs, executors and administrators of such a person. A Director or officer shall be entitled to the benefit of any amendment of the DGCL which enlarges indemnification rights hereunder, but any such amendment which adversely affects indemnification rights with respect to prior activities shall not apply to him without his written consent unless otherwise required by the DGCL. Each person who is or becomes a Director or officer of the Corporation shall be deemed to have served or to have continued to serve in such capacity in reliance upon the indemnity provided for in this Article.

5. Amendment. The provisions of this Article may be amended as provided in this Article and these Bylaws; provided, however, no amendment or repeal of such provisions which adversely affects the rights of a Director or officer under this Article with respect to his acts or omissions prior to such amendment or repeal, shall apply to him without his written consent.

## ARTICLE VII

### Restrictions on Transfers

1. General Restrictions on Transfers. While the Corporation is not a publicly-traded corporation, except as expressly approved by the Board of Directors, no shares of capital stock shall be sold, exchanged, assigned, transferred, gifted, distributed, bequeathed, encumbered, pledged, hypothecated or otherwise disposed of (directly or indirectly through an agent, executor, heir, administrator, trustee, receiver, conservator or other representative), including by operation of law (including upon death, dissolution of marriage, bankruptcy, legal incapacity or otherwise), except as otherwise provided in these Bylaws, including Section 2 of this Article. The Board of Directors, in its sole discretion, may waive any prohibition on any specific transfer or other disposition, may impose reasonable restrictions on any permitted transfer or disposition, or may waive the transfer or disposition but subject to certain other provisions of these Bylaws. Any permitted transferee shall receive the transferred shares subject to all provisions of these Bylaws, and as a condition to such transfer or disposition, the Corporation may request that the transferee acknowledge acceptance and agreement to these Bylaws.

Any transfer of shares in violation of any provisions of these Bylaws shall be null and void and ineffective to transfer such shares and shall not be binding upon or be recognized by the Corporation and any such transferee shall not be treated as or deemed to be a stockholder for any

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purpose. In addition to and not in limitation of any other legal or equitable remedies which it may have, the Corporation and any of its stockholders may enforce its rights hereunder by actions for specific performance. The Board of Directors may in good faith and with a proper corporate purpose waive, modify, supplement or otherwise amend the application of the provisions of this Article in any individual instance.

2. **Permitted Transfers.** Notwithstanding the general restrictions against transfer imposed under Section 1 above, the following will be deemed to be “*Permitted Transfers*” and may be made without triggering the Corporation’s right of first refusal set forth under this Article; *provided that*, prior to any such Permitted Transfer, the proposed recipient of the shares of capital stock to be transferred (the “*Permitted Transferee*”) agrees, in writing, to be bound by the terms and conditions set forth in these Bylaws: (i) transfers of shares between a stockholder and his or her spouse or issue, or the trustees of a trust (or other estate planning vehicle) in which the stockholder or such spouse or issue has the principal beneficial interest; (ii) transfers of shares between the stockholder and the stockholder’s guardian or conservator; (iii) transfers of shares to the stockholder’s executor, administrator or other representative upon the stockholder’s death, disability or incapacity; (iv) transfers of shares by a stockholder that is a partnership, limited liability company, a corporation or a fund: (a) to a partner of such partnership, a member of such limited liability company or stockholder of such corporation or other type of entity, (b) to an affiliate of such partnership, limited liability company, corporation or other type of entity, (c) to a retired partner of such partnership or a retired member of such limited liability company, corporation or other type of entity, (d) to the trust or estate (or other estate planning vehicle) in of any such partner, member or stockholder, and (e) pursuant to a sale, disposition, transfer or other hypothecation by that stockholder of its portfolio securities to a third party where the primary purpose of such disposition is to effect or achieve liquidity by the stockholder through the sale of substantially all of the portfolio securities held by that stockholder entity, and such sale involves the sale, disposition, transfer or other hypothecation by that stockholder of more than two (2) securities of more than two (2) portfolio companies (including the Corporation); and (v) transfers of shares between stockholders (but only if such transfer is first permitted and approved by the Board of Directors).

All such Permitted Transferees shall receive such transferred shares subject to all of the provisions and restrictions of these Bylaws. Notwithstanding anything to the contrary in these Bylaws, no transfer or other disposition of shares may be made to an enterprise deemed by the Corporation to be a competitor of the Corporation, as determined in good faith by the Board of Directors, or to an individual directly or indirectly affiliated with such an enterprise and any such transfer shall be void *ab initio*, and the shares of stock transferred to such competitor or individual shall be cancelled on the books, records and stock ledger of the Corporation.

3. **Restrictions Applicable to Future Issuances.** The restrictions on transfer set forth in this Article shall not only apply to the shares of capital stock presently issued and outstanding but shall also extend to and include all shares of capital stock hereafter acquired by a stockholder or to which the stockholder becomes entitled in the future by reason of his, her or its ownership of shares or securities convertible into or exchangeable for shares of any class or series of capital stock (whether currently held and/or hereafter acquired), or by way of stock dividends, stock split or otherwise.

4. **Termination of Restrictions.** The restrictions on transfer set forth in these Bylaws

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shall terminate upon the occurrence of any of the following events: (a) the liquidation, dissolution, bankruptcy or insolvency of the Corporation; or (b) the sale, lease, transfer or other disposition, in a single transaction or series of related transactions, by the Corporation or any subsidiary of the Corporation of all or substantially all the assets of the Corporation and its subsidiaries taken as a whole, or, if substantially all of the assets of the Corporation and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, the sale, lease, transfer or other disposition (whether by merger or otherwise) of one or more subsidiaries of the Corporation, except where such sale, lease, transfer or other disposition is to the Corporation or one or more wholly owned subsidiaries of the Corporation and the holders of the Corporation's shares of capital stock outstanding immediately prior to such sale, lease, transfer or other disposition continue to represent at least a majority, by voting power, of the equity securities of the Corporation immediately following such sale, lease, transfer or other disposition, (c) a merger or consolidation in which (i) the Corporation is a constituent party or (ii) a subsidiary of the Corporation is a constituent party and the Corporation issues shares of its capital stock pursuant to such merger or consolidation, except any such merger or consolidation involving the Corporation or a subsidiary in which the shares of capital stock of the Corporation outstanding immediately prior to such merger or consolidation continue to represent, or are converted into or exchanged for equity securities that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the equity securities of (1) the surviving or resulting party or (2) the parent of such surviving or resulting party if the surviving or resulting party is a wholly owned subsidiary of another party immediately following such merger or consolidation; or (d) whenever there shall be a public market for the shares of Common Stock (or any securities issued in exchange for the shares of Common Stock). The restrictions in this Article shall also terminate when the Corporation becomes a publicly-traded corporation.

## ARTICLE VIII

### Right of First Refusal

1. Right of First Refusal and Offer to the Corporation. In the event a stockholder desires to transfer shares of capital stock to a third party (other than as permitted by Article VII, Section 2), before making or attempting the transfer of any share, the stockholder shall offer such shares to the Corporation for purchase by it in the manner and upon the terms set forth in this Article (the '*Offer*'). The Offer shall state the name and address of the proposed recipient (the '*Offeree*') and the price or consideration, if any, to be paid by such Offeree for the shares (the '*Offered Shares*') and the terms of the proposed offer. The stockholder shall transmit the Offer as promptly as possible to the Corporation (time being of the essence). The Corporation may assign all or a portion of its right to purchase the Offered Shares to other stockholders of the Corporation or to third parties, in the discretion of the Board of Directors. The Board of Directors may in good faith and with a proper corporate purpose waive, modify, supplement or otherwise amend the application of the provisions of this Article VIII in any individual instance.

2. Acceptance by the Corporation. The Corporation shall have the assignable right, at any time within sixty (60) days after receipt of the Offer, to elect to accept the same by so notifying the stockholder attempting to transfer shares of capital stock (the '*Offeror*') in a writing setting forth its acceptance of the Offer. The price at which the Corporation shall purchase, and at which the stockholder shall sell, the shares shall be the price stated in the Offer;

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provided, however, that such Offer is a bona fide offer. If the Offer is not a bona fide Offer, as determined by the Board of Directors in its reasonable discretion, the price shall be the fair market value of the shares of capital stock as determined in accordance with Article IX, Section 3 (the '*Fair Market Value*').

3. **Completion of Transfers to the Offeree.** If the Corporation fails to elect to purchase the Offered Shares, or having accepted, shall fail to purchase such shares pursuant to the terms of these Bylaws, the Offeror may, prior to the expiration of sixty (60) days from the date of notice by the Corporation, complete the transfer specified in the Offer with the Offeree named in the Offer (and no other) on the terms set forth therein. After the expiration of said sixty (60) days, the stockholder may not transfer the Offered Shares to the Offeree without again offering the Offered Shares to the Corporation for purchase by it hereunder. It shall be a condition to the completion of any transfers completed under this Article that the Offeree agrees, in writing, to be bound by the terms and conditions set forth in these Bylaws.

## ARTICLE IX

### Repurchase Rights

1. **Repurchase Rights at Fair Market Value.** Upon the occurrence of any of the following events with respect to any stockholder, the Corporation shall have the continuing right (but not the obligation) to purchase all of the shares held by the stockholder and the stockholder's Permitted Transferees at a price equal to the Fair Market Value of the shares at the time of the event: (a) the stockholder dies or becomes disabled; (b) the stockholder files a voluntary petition under any bankruptcy or insolvency law or a petition for the appointment of a receiver or makes an assignment for the benefit of creditors; (c) the stockholder is subjected involuntarily to such a petition or assignment or to an attachment or other legal or equitable interest with respect to such stockholder's shares and such involuntary petition or assignment or attachment is not discharged within sixty (60) days after its date; (d) the stockholder is subject to a transfer of such stockholder's shares by operation of law (other than as a result of the stockholder's death, incapacity or disability); or (e) the stockholder is subject to divorce or similar proceedings and the stockholder is required to forfeit or transfer to the counterparty in such proceedings any shares of stock of the Corporation. In connection with the Corporation's repurchase rights under this Article, the stockholder, and the stockholder on behalf of the stockholder's Permitted Transferees, agrees that such Permitted Transferees shall be obligated to sell to the Corporation all shares transferred to them from the stockholder. Any action of the Corporation in electing to purchase or in purchasing or in requiring the sale to it of any shares under these Bylaws, or in paying for such shares or in waiving any provisions of these Bylaws, or in any other matter referred to in these Bylaws, shall require, and may be effected by, a vote of the Board of Directors. The Board of Directors may in good faith and with a proper corporate purpose waive, modify, supplement or otherwise amend the application of the provisions of this Article in any individual instance.

2. **Repurchase Rights at Original Purchase Price in the Event of Termination for Cause.** The Corporation shall have the following right, but not the obligation, to repurchase shares of capital stock held by any stockholder. Such right of repurchase shall be predicated upon: (i) a termination of the employment or any consulting engagement or advisory role of a stockholder for 'Cause' (as defined herein), or (ii) any acts committed by a stockholder (whether or not in a

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service relationship with the Corporation). The Corporation shall have the continuing right (but not the obligation) to purchase all of the shares held by the stockholder and the stockholder's Permitted Transferees at a price equal to the original purchase price of the shares (or in the case of shares of capital stock acquired through an exercise of a stock option, at the exercise price of such option).

For purposes of these Bylaws, '*Cause*' is defined as (i) a stockholder's failure to perform his assigned duties or responsibilities after notice thereof from the Corporation's Board of Directors or its President and/or Chief Executive Officer describing the failure to perform such duties or responsibilities and providing the stockholder thirty (30) days to remedy such failure; (ii) the stockholder's engaging in any act of dishonesty, breach of fiduciary duty as an officer or Director of the Corporation, fraud or misrepresentation in connection with services to the Corporation; (iii) the stockholder's violation of any federal or state law or regulation applicable to the business of the Corporation which results in material damage or injury to the Corporation; (iv) the stockholder's breach of any noncompetition or nonsolicitation covenant, confidentiality agreement or invention assignment agreement between the stockholder and the Corporation (or any strategic partner, customer, supplier or vendor of the Corporation); (v) a conviction of, a plea of guilty or *nolo contendere* to, or confession of guilt of, a felony, either in connection with the performance of the stockholder's obligations to the Corporation, or which materially and adversely affects the stockholder's ability to perform such obligations, or which otherwise materially and adversely affects the business activities, reputation, goodwill or image of the Corporation; (vi) reckless, intentional or willful misconduct or gross negligence of the stockholder in connection with the performance of assigned duties, or breach of the material terms of employment or consultancy after a written notice and a ten-day opportunity to cure, if curable, as determined in the sole discretion of the Board of Directors; (vii) a breach of fiduciary duty as an officer (or Director, if applicable) of the Corporation; (viii) the commission of an act of fraud, embezzlement or deliberate disregard of the rules or policies of the Corporation which results in material verifiable loss, damage or injury to the Corporation, or otherwise materially adversely affects the business activities, reputation, goodwill or image of the Corporation; (ix) the unauthorized disclosure by the stockholder of any trade secret or confidential information of the Corporation or any of its strategic partners, customers, suppliers or vendors, which results in material damage or injury to the Corporation, or otherwise materially adversely affects the business activities, reputation, goodwill or image of the Corporation or its strategic partners, customers, suppliers or vendors; or (x) the unauthorized use of any illegal substances or other abuse of substances (whether legal or illegal) which results in material damage or injury to the Corporation, or otherwise materially adversely affects the business activities, reputation, goodwill or image of the Corporation or its clients or customers. Except for a violation involving clause (ix) above, the foregoing '*Cause*' definitions shall apply in the case of any stockholder who is also performing services for the Corporation, whether as an employee or officer of, or advisor or consultant to, the Corporation.

3. Fair Market Value Determined by Board. For purposes of any repurchase of shares under these Bylaws, the Fair Market Value of the shares shall be equal to the fair market value of the Corporation's capital stock, as determined from time to time, in good faith, by the Board of Directors in its sole discretion. Any determination of Fair Market Value by the Board of Directors in accordance with this Article IX, Section 3, shall, absent any action by the Board of Directors to modify such determination, remain in effect for a period of three (3) months unless there is a public trading market for the Corporation's shares or unless the circumstances

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involving the Corporation are subject to a material change.

For purposes of determining Fair Market Value, the factors which the Board of Directors may consider and deem relevant may include, without limitation, recent sale and offer prices of the capital stock of the Corporation in private transactions negotiated at arm’s length or in public trading markets for the Corporation’s capital stock if any public trading market(s) exist; recent valuations of the capital stock undertaken for IRS 409A or financial statement or other valuation purposes; revenues and operating earnings of the Corporation for the most recent twelve-month period; projected revenues and operating earnings of the Corporation for the next twelve-month period; positive cash flows, if any, of the Corporation, discounted to present value; the nature and timing of any product releases, product orders and product shipments; generation of significant orders, cash flow from operations, or consummation of relationships with strategic partners; the book value of the Corporation’s assets as recorded on the most recently prepared balance sheet of the Corporation; the price/earnings multiples of comparable publicly-traded companies, discounted for the illiquidity and lack of marketability associated with the Corporation’s status as a private company for so long as such status applies; a comparison of the ratios of revenues-to-equity value and revenues-to- EBITDA involved in acquisitions of comparable companies; and appropriate consideration of the senior rights, preferences and privileges of all outstanding indebtedness or of any series of preferred stock outstanding in relation to other series of outstanding preferred stock; and other pertinent factors determined by the Board of Directors to be relevant to increasing the Enterprise Value of the Corporation and the Fair Market Value of any shares of capital stock in relation to such Enterprise Value, but excluding discounts for minority holdings and the impact of any redemption of capital stock on the future working capital needs and operations of the Corporation, as determined in good faith by the Board of Directors. “*Enterprise Value*” shall be the price which could be obtained for the sale or transfer to an unrelated third party of one hundred percent (100%) of the equity interests in the Corporation on a consolidated basis if the Corporation were sold to a willing buyer by a willing seller in a single arm’s-length transaction.

4 Appraisal. If no determination of Fair Market Value pursuant to Section 3 is in effect, and the parties to a proposed transaction cannot agree upon the Fair Market Value of the shares of capital stock, Fair Market Value may be determined by appraisal, as determined by the Board of Directors. The cost of the appraisal shall be borne by the stockholder if the stockholder disagrees with the Board of Director’s determination of Fair Market Value and/or Enterprise Value. In such case, the parties to a proposed transfer shall appoint an appraiser; provided that, if the parties are unable to agree on an appraiser within sixty (60) days, an appraiser having relevant industry experience shall be appointed by the American Arbitration Association or a similar dispute resolution body approved by the Board of Directors, located in Boston, Massachusetts. The appraiser shall proceed to determine Fair Market Value as of a convenient date selected by it, and such determination shall be final and binding upon all parties. For purposes of any appraisal under this Article IX, Section 4, the Fair Market Value shall be the price per share that a ready, willing and able buyer would pay to a ready, willing and able seller in a *bona fide* transaction negotiated at arm’s length, where neither party is under any compulsion to buy or sell and each party is in possession of all relevant material information, considering all material relevant factors affecting the value of such shares at the date of determination, including, but not limited to, the impact of any minority interest and/or other applicable discount factors. The Corporation shall promptly furnish to the appraiser such financial and other information as the appraiser may reasonably request. The appraiser shall promptly notify the

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Corporation and the parties to the proposed transfer in writing of its final determination of Fair Market Value and Enterprise Value.

## ARTICLE X

### Drag Along Rights

1. **Approval and Notice of Acquisition.** If the Board of Directors approves an Acquisition (as defined below) of the Corporation and recommends such Acquisition to the stockholders, and stockholders holding a majority of the outstanding shares of capital stock of the Corporation approve the Acquisition, then the following principles shall apply. The Corporation shall send each stockholder notice of such Acquisition at least five (5) business days prior to the closing date of the Acquisition, along with the Board of Directors’ recommendation as to the merits of the Acquisition. The notice shall include a reasonably detailed description of the Acquisition, including the proposed time and place of closing, the consideration to be received by the Corporation’s stockholders, and any other material terms. An “Acquisition” shall mean a change of control of the Corporation pursuant to which a *bona fide*, unaffiliated third party proposes to acquire in one or a series of related transactions all or substantially all of the assets, or all or substantially all of the capital stock, of the Corporation, whether by purchase, lease, merger, consolidation, reorganization, asset sale, share exchange, share purchase, exclusive license, business combination or otherwise in a transaction otherwise determined by the Board of Directors to be deemed an “Acquisition” for purposes of this Article. An Acquisition shall also mean a transaction of the type described in Article VII, Section 4, clauses (b) and (c). Those stockholders holding a majority of the outstanding shares of capital stock of the Corporation and entitled to vote on such Acquisition and also approving the Acquisition (as determined in accordance with the voting power of each class or series of capital stock, as set forth in the Certificate of Incorporation) shall be deemed “Approving Stockholders.” Those stockholders who are not Approving Stockholders shall be deemed “Remaining Stockholders.”

2. **Drag Along Principles.** In connection with the closing of the Acquisition, the Remaining Stockholders shall (x) consent to, vote for and raise no objections to the Acquisition, and (y) waive any dissenters rights, appraisal rights or similar rights, if any, in connection with the Acquisition. If the Acquisition is structured as a sale of the capital stock of the Corporation, the Remaining Stockholders shall agree to sell all of their shares of capital stock of the Corporation on the same terms and conditions approved by the Board of Directors and the Approving Stockholders. The Remaining Stockholders shall take all reasonably necessary and desirable actions requested by the Board of Directors and the Approving Stockholders in connection with the consummation of the Acquisition, including, without limitation, the execution of such agreements and such instruments (collectively, the “Sale Documents”) and other actions reasonably necessary to (x) effectuate the Acquisition, including (only in the case that a third party requires both the Corporation and all of the Approving Stockholders and the Remaining Stockholders to individually sign such Sale Documents) making such customary representations, warranties, indemnities, covenants, conditions, escrow agreements and other customary agreements relating to such Acquisition (provided that any Stockholder’s aggregate liability pursuant to the Sale Documents or otherwise in connection with the Acquisition shall be limited to the value of the consideration received by such Stockholder in the Acquisition), and (y) effectuate the agreed-upon allocation and distribution of the aggregate consideration received upon the Acquisition.

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3. Appointment of Proxy. Each stockholder hereby irrevocably appoints, for so long as the provisions of Sections 1 and 2 of this Article remain in effect, a person designated by the vote or consent of the Board of Directors as such stockholder’s attorney and proxy with full power of substitution to vote and otherwise act (by written consent or otherwise) with respect to the shares of capital stock of the Corporation owned by such Stockholder, solely on the matters and in the manner specified in Sections 1 and 2 of this Article. THE PROXY AND POWER OF ATTORNEY GRANTED PURSUANT TO THIS SECTION 3 OF THIS ARTICLE ARE IRREVOCABLE AND COUPLED WITH AN INTEREST. Each Remaining Stockholder hereby revokes all other proxies and powers of attorney on the matters specified in Sections 1 and 2 hereof with respect to the shares of capital stock of the Corporation which such Remaining Stockholder may have heretofore appointed or granted, and no subsequent proxy or power of attorney shall be given or written consent executed (and if given or executed, shall not be effective) by such Remaining Stockholder with respect thereto. All authority herein conferred or agreed to be conferred shall survive the death or incapacity of each stockholder and any obligation of a stockholder under these Bylaws shall be binding upon the heirs, personal representatives, successors, transferees and successors of such stockholder.

## ARTICLE XI

### Alternative Dispute Resolutions Methods

1. Negotiation. Subject to the discretion of the Board of Directors, in the event of any type of dispute, claim, counterclaim, ambiguity, interpretation, controversy, failure of expectation or failure of performance between the Corporation, the Board of Directors and any stockholder relating to or arising under these Bylaws or any other related corporate governance matter (a “Disputed Matter”), upon the written request of the Board of Directors or the other party(ies) to such Disputed Matter, such Disputed Matter shall be referred to representatives of the parties for a mutual decision, resolution, settlement or other action (the “Representatives”). The Representatives shall promptly meet in a good faith effort to resolve the Disputed Matter. If the Representatives do not agree upon a decision within forty-five (45) days after reference of the Disputed Matter to them, each of the parties shall be free to exercise the remedies available to it under the Sections below. Each Party may extend the period of time for negotiation among the Representatives for an additional period of fifteen (15) days on one (1) occasion per the Disputed Matter.

2. Non-Binding Mediation. Subject to the discretion of the Board of Directors, if the Disputed Matter is not resolved within the time period set forth above (including any extension period above) after the Representatives first meet and confer, either Party may refer the matter under dispute to non-binding mediation at a neutral location in Boston, Massachusetts, pursuant to a mediator selected by the Board of Directors in good faith. The Board of Directors may select an independent mediator, or may pursue mediation through any other mediation service. Following the referral to a non-binding mediation service the parties shall request that the mediator render a decision, to the extent as promptly as possible and practicable, within forty-five (45) days of the last meeting. If the Representatives do not agree upon a resolution within thirty (30) days of the decision of the mediator, each of the parties shall be free to exercise the Arbitration remedies available to it below.

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3. *Submission to Arbitration.* Subject to the discretion of the Board of Directors, if the parties are unable to resolve such Disputed Matter pursuant to the Sections above, the Disputed Matter shall be submitted to final and binding arbitration (without any recourse to the federal or state courts except to enforce any arbitration award) in accordance with the rules of JAMS/End Dispute (“*JAMS*”) then in force (except as expressly modified below), or such other arbitration tribunal as shall be selected by the Board of Directors. The arbitration hearings and proceedings shall be held before a single arbitrator (“*Arbitrator*”) in Boston, Massachusetts. The Parties agree to appoint an Arbitrator with business or legal experience who is knowledgeable in matters of corporate governance. If the Parties cannot agree upon an Arbitrator within ten (10) business days after a demand for arbitration has been filed with JAMS (or such other arbitration tribunal) by either of them, either or both parties may request the JAMS (or such other arbitration tribunal) to name a panel of five (5) candidates to serve as Arbitrator. The parties shall each, in successive rounds (with the party demanding the arbitration having the first chance to strike a name), strike one name off this list until only one name remains, and such last-named person shall be the Arbitrator.

4. *Conduct of Arbitration Proceedings.* The Arbitrator shall be required to (a) follow the substantive rules of the applicable DGCL and related case law interpreting the DGCL, (b) require all testimony to be transcribed, and (c) accompany the award with findings of fact and a statement of reasons for the decision. The Arbitrator shall have the authority to permit discovery for no more than ninety (90) days, to the extent deemed appropriate by the Arbitrator, upon the reasonable request of a party. The Arbitrator shall have no power or authority to (i) add to or detract from the express provisions of these Bylaws, (ii) modify or disregard any provision of these Bylaws, or (iii) address or resolve any issue not submitted by the parties as a Disputed Matter. The Arbitrator shall order only such pre-hearing exchanges of information as will facilitate a fair, speedy and cost-effective resolution and will honor the parties’ decision to use arbitration as a less expensive and faster alternative to litigation. The Arbitrator shall hold proceedings during a period of not longer than forty-five (45) days promptly following conclusion of discovery, and the Arbitrator shall render a final decision within forty-five (45) days following conclusion of the hearings. The Arbitrator shall have the power to grant injunctive relief (without the necessity of a party posting a bond or other surety) or specific performance in the event a party has violated the provisions of these Bylaws, and may have power to award punitive and/or exemplary damages in the event of a material breach of these Bylaws or in the event of fraud or a reckless or willful disregard or violation of these Bylaws. In the event of any conflict between the arbitration rules then in effect and the provisions of these Bylaws, the provisions of these Bylaws shall prevail and be controlling. The Arbitrator shall have no power or authority to (i) add to or detract from of these Bylaws, (ii) disregard any provision of these Bylaws, or (iii) address or resolve any issue not submitted by the parties.

5. *Interim Relief.* Either Party may apply to the Arbitrator for interim injunctive relief until the arbitration award is rendered or the Disputed Matter is otherwise resolved. Either Party also may, without waiving any remedy under these Bylaws, seek from any court having jurisdiction any injunctive or provisional relief necessary to protect the rights of that party pending the arbitration award.

6. *Costs of Arbitration.* Each party shall share in the actual and direct costs of the engagement of the Arbitrator, but the primary prevailing party in the arbitration shall be reimbursed by the non-prevailing party for the prevailing party’s fees and costs of arbitration

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(e.g., the costs, fees and expenses of outside experts and counsel retained by the prevailing party). If one party is not deemed by the Arbitrator to be the primary prevailing party, then each party shall pay its own costs, fees and expenses (including outside experts and attorneys’ fees) and an equal share of the Arbitrators’ fees and any administrative fees of arbitration.

7. *Confidentiality.* Except to the extent necessary to confirm an award or as may be required by law, neither a party nor an Arbitrator may disclose the existence, content, or results of the arbitration without the prior written consent of both parties, except that the Corporation may disclose the award (under confidentiality obligations) to its directors, officers and investors if such disclosure is required by applicable securities laws and the failure of the Corporation to disclose could violate applicable securities laws. In no event shall arbitration be initiated after the date when commencement of a legal or equitable proceeding based on the dispute, controversy or claim would be barred by the applicable statute of limitations.

#### ARTICLE XII Miscellaneous Provisions

4. *Fiscal Year.* Except as otherwise determined by the Board of Directors, the fiscal year of the Corporation shall end on December 31st of each year.

5. *Seal.* The Board of Directors shall have power to adopt and alter the seal of the Corporation.

6. *Notices and Waivers.* Whenever by the DGCL or under the provisions of the Certificate of Incorporation or these Bylaws notice is required to be given to any Director or stockholder, it will not be construed to require personal notice, but such notice may be given in writing, addressed to such Director or stockholder at the address of such Director or stockholder as it appears on the records of the Corporation. Notice to Directors for proposed meetings of the Board of Directors may be given by telephone, including a voice messaging system or other system or technology designed to record and communicate messages, facsimile, overnight courier, first class mail (postage prepaid), telegraph, or by electronic mail or other electronic means. Notice in writing to stockholders may be delivered by mail with postage thereon prepaid, facsimile, overnight courier, first class mail (postage prepaid), telegraph, electronic mail or other electronic means, or by courier service and such notice will be deemed to be given at the time when the same is deposited in the United States mail or upon delivery, if given by courier service, or receipt if given by electronic mail or other electronic means. Notice to stockholders or Directors (for any purpose other than a notice of a proposed meeting of the Board of Directors) may also be given by telephone, telegram, facsimile, electronic mail, electronic transmission or similar medium of communication or as otherwise may be permitted by these Bylaws or by the DGCL if any other form of notice is hereafter permitted. If such notice is delivered to a Director or stockholder by electronic mail, such notice shall be deemed given when directed to the electronic mail address provided by such Director or stockholder, and if such notice is delivered by any other electronic transmission, such notice shall be deemed given when directed to such Director or stockholder. Notice shall be given to each Director in person or by telephone, including a voice messaging system or other system or technology designed to record and communicate messages, facsimile, telegraph, facsimile transmission or PDF, or by

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electronic mail or other electronic means, at least two (2) business days in advance of the meeting.

Whenever any notice is required to be given by the DGCL or under the provisions of the Certificate of Incorporation or these Bylaws, a waiver thereof, in writing, signed by the person or persons entitled to such notice, or a waiver transmitted to the Corporation by the person entitled to such notice, whether before or after the time of the event for which notice is to be given, will be deemed equivalent to such notice. Attendance of a person at a meeting will constitute a waiver of notice of such meeting, except when the person attends a meeting for the sole and express purpose of objecting, at the time of the meeting, to the transaction of any business because the meeting is not lawfully called or convened and such person expresses such objection at the commencement of the meeting.

7. **Execution of Instruments.** All deeds, leases, transfers, contracts, bonds, notes and other obligations authorized to be executed by an officer of the Corporation in its behalf shall be signed by the President or Treasurer, or by any other officer of the Corporation designated by the Board of Directors, except as the Board of Directors may generally or in particular cases otherwise determine.

8. **Voting of Securities.** Unless otherwise provided by the Board of Directors, the President or Treasurer may waive notice of and act on behalf of this Corporation, or appoint another person or persons to act as proxy or attorney in fact for this Corporation with or without discretionary power and/or power of substitution, at any meeting of stockholders or shareholders of any other corporation or organization, any of whose securities are held by this Corporation.

9. **Resident Agent.** The Board of Directors may appoint a resident agent in any jurisdiction upon whom legal process may be served in any action or proceeding against the Corporation.

10. **Corporate Records.** The original or attested copies of the Certificate of Incorporation, Bylaws and records of all meetings of the incorporator, stockholders and the Board of Directors and the stock and transfer records, which shall contain the names of all stockholders, their record addresses and the amount of stock held by each, shall be kept at the principal office of the Corporation, at the office of its counsel, or at an office of its transfer agent. Duplicate copies of such records may be kept by others enumerated above.

11. **Certificate of Incorporation.** All references in these Bylaws to the Certificate of Incorporation shall be deemed to refer to the Certificate of Incorporation of the Corporation, as amended and in effect from time to time.

12. **Conflict with Applicable Law or Certificate of Incorporation.** These Bylaws are adopted subject to the applicable DGCL and the Certificate of Incorporation in effect from time to time. Whenever these Bylaws may conflict with any applicable law or the Certificate of Incorporation, such conflict shall be resolved in favor of such law or the Certificate of Incorporation.

10. **Amendments of Bylaws.** These Bylaws may be amended or repealed or additional Bylaws adopted by the stockholders or by the Board of Directors; provided that (a) the Board of Directors may not amend or repeal any provision of these Bylaws which by the DGCL,

[M1397796.2]  
*CatAllyst Inc.*  
Bylaws

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by the Certificate of Incorporation or by these Bylaws requires action by the stockholders, and (b) any amendment or repeal of these Bylaws by the Board of Directors and any Bylaw adopted by the Board of Directors may be amended or repealed by the stockholders.

*Approved by the Sole Incorporator: May 31, 2019*

*Approved by the Sole Director: May 31, 2019*

[M1397796.2]  
*CatAllyst Inc.*  
*Bylaws*

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**Attachment 5:** `otherfinancial.pdf`

# Record Ownership and Voting Agreement

This Record Ownership and Voting Agreement (this “Agreement”) is entered into as of the date of electronic consent by the parties using the website www.netcapital.com (the “Portal”), by and among NetCapital Funding Portal Inc., a Delaware corporation (“NetCapital”), MG Teixeira Inc, a Connecticut corporation (the “Record Owner”), and the undersigned investor (“Investor”).

The Record Owner has agreed to open and maintain the Account (as defined below) for Investor and to provide other services to Investor in connection with the Account. This Agreement sets out, among other things, the terms under which the Record Owner will provide those services to Investor and the arrangements that will apply in connection with those services.

In consideration of the mutual promises herein made and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

## 1. Interpretation

### 1.1 Definitions

In this Agreement:

- • “Account” means the account opened by the Record Owner and consisting of the beneficial interests in any Shares that were offered for sale by the Issuer on the Portal and purchased by Investor.
- • “Account Balance” means, in relation to the Account, the number of Shares of each Issuer beneficially owned by Investor, including all of Investor’s rights to and interest in the balance from time to time on that Account.
- • “Business Day” means a weekday that is not a federal holiday.
- • “Escrow Agent” means Boston Private Bank and Trust Company.
- • “Fees” means the fees and charges referred to in clause 5.1 of this Agreement.
- • “Issuer” means each issuer of the Shares.
- • “Shares” means the beneficial interests in the uncertificated shares of common stock or preferred stock or the units of convertible debt, limited liability company membership interests or limited partnership interests that were beneficially purchased by Investor on the Portal.
- • “Termination Date” means the date on which this Agreement is terminated by the Record Owner or by Investor as permitted hereunder.
- • “Transfer Agent” means Equity Stock Transfer LLC, or a successor transfer agent.
- • “Withdrawal Date” means the date referred to in clause 2.2 of this Agreement.

### 1.2. Headings

The headings in this Agreement do not affect its interpretation.

### 1.3. Singular and plural

References to the singular include the plural and vice versa.

## 2. Account

### 2.1. Opening Account

The Record Owner shall open and maintain the Account for the beneficial interests in the Shares beneficially held by Investor.

### 2.2. Deposits and withdrawals

The balance of Investor's Account shall reflect the Shares beneficially held by Investor. A deposit of Shares is made into Investor's Account when the Escrow Agent sends payment funds to the Issuer or a seller of Shares, as the case may be, and the Record Owner receives a record from the Transfer Agent of the number of Shares that Investor beneficially holds. A withdrawal occurs when the Record Owner receives notice from the Transfer Agent that the Shares have been beneficially sold or transferred.

### 2.3. Reports

Reports relating to deposits into and withdrawals from the Account and the Account Balance will be available to Investor daily by means of a section on the Portal to which Investor may log in.

## 3. Services of the Record Owner

### 3.1. General

Investor and the Record Owner understand and agree that the Record Owner will be the legal but not the beneficial owner of the Shares.

### 3.2. Ownership of Securities

The Record Owner will be the sole holder of legal title to the Shares while Investor will hold beneficial ownership of the Shares. The Record Owner will be the sole record holder of the Shares on the books and records of the Issuer. The sole dispositive record of Investor's beneficial ownership of the Shares will be in the books and records of the Transfer Agent. Investor shall be entitled to all proceeds of the sale of Shares, net of fees and commissions.

### 3.3. Voting of Securities

Prior to the Withdrawal Date, at every meeting of the equity or interest holders of the Issuer called with respect to any matter, and at every adjournment or postponement thereof, and on every action or approval by written consent or resolution of the equity or interest holders of the Issuer, Investor agrees that the Record Owner shall vote Investor's Shares, in the event Investor's Shares contain voting rights, in a manner reasonably determined to be in the best interest of Investor.

### 3.4. Insurance

The Record Owner and Investor understand and agree that the Record Owner may maintain insurance in support of the Record Owner's obligations under this Agreement, including covering any loss of the Shares. In the event that the Record Owner elects to reduce, cancel or not to renew such insurance, the Record Owner may give Investor prior written notice as follows: in the case of a reduction, the Record Owner may endeavor to provide such notice at least 30 days prior to the effective date of the reduction; and in the event of a cancellation or expiration of the insurance without renewal, the Record Owner may provide such notice at least 30 days prior to the last day of insurance coverage. Investor acknowledges that any such insurance is held for the Record Owner's benefit and not for the benefit of Investor, and that Investor may not submit any claim under the terms of such insurance.

### 3.5. Notice of Changes

The Record Owner may notify Investor promptly in writing of the following: (i) the Record Owner receives notice of any claim against the Account other than a claim for payment of safe custody or administration permitted by this Agreement; (ii) the Record Owner otherwise fails to comply with any of the provisions of this Agreement; or (iii) any of the Record Owner's representations and warranties in clause 4 shall cease to be true and correct.

## 4. Obligations of the Portal

NetCapital shall notify or cause to be notified each Issuer of Shares of the identity of the Record Owner of the Shares of such Issuer.

## 5. Representations and Warranties

### 5.1 Investor's representations

Investor represents and warrants that:

- Investor is the beneficial owner of the Shares;
- Investor has all necessary authority, powers, consents, licenses and authorizations and has taken all necessary action to enable Investor lawfully to enter into and perform Investor's duties and obligations under this Agreement; and
- This Agreement and the obligations created under it are binding upon Investor and enforceable against Investor in accordance with its terms (subject to applicable principles of equity) and do not and will not violate the terms of the

rules or any order, charge or agreement by which Investor is bound.

## 5.2 The Record Owner's representations and warranties

The Record Owner represents and warrants to Investor that:

- this Agreement has been duly authorized, executed and delivered on the Record Owner's behalf and constitutes the Record Owner's legal, valid and binding obligation; and
- the execution, delivery and performance of this Agreement by the Record Owner does not and will not violate any agreement by which the Record Owner is bound.

## 6. Fees and Expenses

### 6.1 Fees

The Record Owner's fees will be paid in accordance with the fee agreement that has been executed by the Portal and the Record Owner. There are no fees payable by the Investor.

## 7. Scope of Responsibility

### 7.1 Exclusion of liability

The Record Owner may use reasonable care in the performance of its duties under this Agreement and will only be responsible for any loss or damage suffered by Investor as a direct result of any gross negligence, fraud or willful misconduct on the Record Owner's part in the performance of the Record Owner's duties, and in which case the Record Owner's liability will not exceed the aggregate market value of the Shares at the time of such gross negligence, fraud or willful misconduct.

### 7.2 Force majeure

Neither the Record Owner nor any of the Record Owner's directors, employees, agents or affiliates shall incur any liability to Investor if, by reason of any provision of any present or future law or regulation of any governmental or regulatory authority or stock exchange, or by reason of any act of God or war or terrorism, pandemic or other circumstances beyond the Record Owner's control, the Record Owner is prevented or forbidden from, or would be subject to any civil or criminal penalty on account of, or are delayed in, doing or performing any act or thing which by the terms of this Agreement it is provided shall be done or performed and accordingly the Record Owner does not do that thing or does that thing at a later time than would otherwise be required.

### 7.3 Exculpation in respect of offering documents

The Record Owner and its officers, directors, employees, agents and sub-record owners, if any, shall not be responsible or liable in any manner for any recitals, statements, representations or warranties made by any person other than the Record Owner including, but not limited to, statements contained in any material relating to

the offering and sale of Shares.

## 8. Termination

### 8.1 Method

The Record Owner may terminate this Agreement by giving not less than 60 Business Days' prior written notice to Investor and the Portal, provided that the Record Owner may terminate this Agreement immediately on written notice in the event that any of the statements set out in clause 4.1(a)-(c) become untrue. Clauses 6, 7.2 and 9 shall survive termination of this Agreement.

Investor may terminate this Agreement by giving not less than 60 Business Days' prior written notice to the Record Owner and the Portal in the event that the Record Owner is found, in a final determination not subject to appeal, to have committed an act of gross negligence or willful misconduct in respect of its duties as Record Owner hereunder.

### 8.2 Existing rights

Termination shall not affect rights and obligations then outstanding under this Agreement, which shall continue to be governed by this Agreement until all obligations have been fully performed.

### 8.3 Website

Effective upon the Termination Date, Investor's use of the Website will automatically be terminated and Investor will be permitted no further access to the Website until Investor has purchased other Shares.

## 9. Notices and Recordkeeping

### 9.1 Form

A notice or other communication given to Investor under or in connection with this Agreement may be given using the contact information Investor provided to the Portal.

### 9.2 Method of transmission

Any notice or other communication required to be in writing may be delivered by email, receipt confirmed, to the Portal or the Record Owner at the following email addresses:

If to the Record Owner:

MG Teixeira Inc
mannyteixeria@gmail.com

If to the Portal:

Netcapital Funding Portal Inc

## 10. General

### 10.1 No advice

The Record Owner’s duties and obligations under this Agreement do not include providing Investor with investment advice. In asking the Record Owner to open and maintain the Account, Investor does so in reliance upon Investor’s own judgment and the Record Owner shall not owe to Investor any duty to exercise any judgment on Investor’s behalf as to the merits or suitability of any deposits into, or withdrawals from, an Account.

### 10.2 Assignment

This Agreement is for the benefit of and binding upon the parties and their respective heirs, successors and assigns. Investor may not assign, transfer or encumber, or purport to assign, transfer or encumber, Investor’s right, title or interest in relation to any Account or any right or obligation under this Agreement or any part of any of the foregoing unless the Record Owner otherwise agrees in writing.

### 10.3 Amendments

Any amendment to this Agreement must be agreed in writing and be signed by all parties hereto. Unless otherwise agreed, an amendment will not affect any legal rights or obligations that may already have arisen.

### 10.4 Partial invalidity

If any of the clauses (or part of a clause) of this Agreement becomes invalid or unenforceable in any way, the validity of the remaining clauses (or part of a clause) will not in any way be affected or impaired.

### 10.5 Entire agreement

This document represents the entire agreement of the parties, and supersedes any previous agreements and understandings among the parties relating to the subject matter of this Agreement.

### 10.6 Joint and several liability

Investor’s responsibilities under this Agreement are joint and several if applicable.

### 10.7 Counterparts

This Agreement may be executed in any number of counterparts each of which when

executed and delivered is an original, but all the counterparts together constitute the same agreement.

### 10.8 Governing Law and Jurisdiction

This Agreement is governed by and construed in accordance with the laws of the State of Delaware without regard to its conflicts of laws principles. The parties agree that the United States District Court for the Delaware shall have sole and exclusive jurisdiction to determine any issues arising under this Agreement, and all Parties to this Agreement agree to submit to personal jurisdiction in Wilmington, Delaware, for the purpose of resolving any issue arising under or related to this Agreement.

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** Catailyst Inc.

**Legal Status:** Corporation

**Jurisdiction of Incorporation/Organization:** DE

**Date of Organization:** 05-31-2019

**Physical Address:** 1 Paul Revere Road, Needham, MA, 02494

**Issuer Website:** https://catailyst.ai/

**Is there a Co-Issuer?:** No

**Intermediary Name:** NetCapital Funding Portal Inc.

**Intermediary CIK:** 0001669191

**Intermediary File Number:** 007-00035

**Intermediary CRD Number:** 283596

### Offering Information

**Compensation to Intermediary:** Up to 4.9% of amount raised for a successful offering and a listing fee of up to $10,000

**Financial Interest in Issuer:** None.

**Type of Security Offered:** Common Stock

**Number of Securities Offered:** 1000

**Price per Security:** $10.00

**Method for Determining Price:** The price of the Securities was determined solely by the management and bears no relation to traditional measures of valuation such as book value or price-to-earnings ratios. We expect that any future valuation will take the same approach.

**Target Offering Amount:** $10,000.00

**Oversubscription Accepted:** Yes

**Oversubscription Allocation Type:** First-come, first-served basis

**Maximum Offering Amount:** $1,235,000.00

**Deadline to Reach Target Amount:** 05-12-2023

### Annual Report Disclosure Requirements

**Current Number of Employees:** 1

**Total Assets (Most Recent Fiscal Year):** $21,576.00

**Total Assets (Prior Fiscal Year):** $30,396.00

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $12,392.00

**Cash & Cash Equivalents (Prior Fiscal Year):** $20,535.00

**Accounts Receivable (Most Recent Fiscal Year):** $990.00

**Accounts Receivable (Prior Fiscal Year):** $0.00

**Short-Term Debt (Most Recent Fiscal Year):** $0.00

**Short-Term Debt (Prior Fiscal Year):** $0.00

**Long-Term Debt (Most Recent Fiscal Year):** $50,035.00

**Long-Term Debt (Prior Fiscal Year):** $50,035.00

**Revenues/Sales (Most Recent Fiscal Year):** $25,500.00

**Revenues/Sales (Prior Fiscal Year):** $0.00

**Cost of Goods Sold (Most Recent Fiscal Year):** $4,183.00

**Cost of Goods Sold (Prior Fiscal Year):** $0.00

**Taxes Paid (Most Recent Fiscal Year):** $0.00

**Taxes Paid (Prior Fiscal Year):** $0.00

**Net Income (Most Recent Fiscal Year):** $-11,345.00

**Net Income (Prior Fiscal Year):** $-19,393.00

**Jurisdictions Offered:**

ALABAMA, ALASKA, ARIZONA, ARKANSAS, CALIFORNIA, COLORADO, CONNECTICUT, DELAWARE, DISTRICT OF COLUMBIA, FLORIDA, GEORGIA, HAWAII, IDAHO, ILLINOIS, INDIANA, IOWA, KANSAS, KENTUCKY, LOUISIANA, MAINE, MARYLAND, MASSACHUSETTS, MICHIGAN, MINNESOTA, MISSISSIPPI, MISSOURI, MONTANA, NEBRASKA, NEVADA, NEW HAMPSHIRE, NEW JERSEY, NEW MEXICO, NEW YORK, NORTH CAROLINA, NORTH DAKOTA, OHIO, OKLAHOMA, OREGON, PENNSYLVANIA, RHODE ISLAND, SOUTH CAROLINA, SOUTH DAKOTA, TENNESSEE, TEXAS, UTAH, VERMONT, VIRGINIA, WASHINGTON, WEST VIRGINIA, WISCONSIN, WYOMING, B5, GU, 1V, PR, VI

### Signatures

**Issuer:** Catailyst Inc.

**Signature:** Arindrajit Basak

**Title:** Principal Executive Officer

---

**Signature:** Arindrajit Basak

**Title:** Principal Executive Officer

**Date:** 03-10-2023

---

**Signature:** Arindrajit Basak

**Title:** Principal Financial Officer

**Date:** 03-10-2023

---

**Signature:** Arindrajit Basak

**Title:** Principal Accounting Officer

**Date:** 03-10-2023

---

**Signature:** Arindrajit Basak

**Title:** Board Member

**Date:** 03-10-2023