# EDGAR Filing Document

**Accession Number:** 0001776073
**File Stem:** 0001683168-26-004020
**Filing Date:** 2026-5
**Character Count:** 748342
**Document Hash:** a75a7f752eee408cbbd066407e9e40ed
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683168-26-004020.hdr.sgml**: 20260515

**ACCESSION NUMBER**: 0001683168-26-004020

**CONFORMED SUBMISSION TYPE**: 1-A

**PUBLIC DOCUMENT COUNT**: 111

**FILED AS OF DATE**: 20260515

**DATE AS OF CHANGE**: 20260515

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CBD Life Sciences Inc.
- **CENTRAL INDEX KEY:** 0001776073
- **STANDARD INDUSTRIAL CLASSIFICATION:** MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 205118532
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 1-A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 024-12761
- **FILM NUMBER:** 26986138

**BUSINESS ADDRESS:**
- **STREET 1:** 10953 N. FRANK LLOYD WRIGHT BLVD.
- **STREET 2:** UNIT 108
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **BUSINESS PHONE:** 480-209-1720

**MAIL ADDRESS:**
- **STREET 1:** 10953 N. FRANK LLOYD WRIGHT BLVD.
- **STREET 2:** UNIT 108
- **CITY:** SCOTTSDALE
- **STATE:** AZ

## Part

[**Table of Contents**](#q1_021)

**File No. 024-** 

**PART II — INFORMATION REQUIRED IN OFFERING CIRCULAR**

**Preliminary Offering Circular dated May 15, 2026** 

**An Offering Statement pursuant to Regulation A relating to these securities has been filed with the Securities and Exchange Commission. Information contained in this Preliminary Offering Circular is subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted before the Offering Statement filed with the Commission is qualified. This Preliminary Offering Circular shall not constitute an offer to sell or the solicitation of an offer to buy nor may there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful before registration or qualification under the laws of any such state. We may elect to satisfy our obligation to deliver a Final Offering Circular by sending you a notice within two business days after the completion of our sale to you that contains the URL where the Final Offering Circular or the Offering Statement in which such Final Offering Circular was filed may be obtained.**

**<u>OFFERING CIRCULAR</u>**

**CBD Life Sciences Inc.**

**4,000,000,000 Shares of Common Stock**

By this Offering Circular, the Company is offering for sale a maximum of 4,000,000,000 shares of its common stock (the Offered Shares), pursuant to Tier 1 of Regulation A of the United States Securities and Exchange Commission (the "SEC") with no minimum purchase required. This offering is being conducted on a best-efforts basis, which means that there is no minimum number of Offered Shares that must be sold by us for this offering to close; thus, we may receive no or minimal proceeds from this offering. All proceeds from this offering will become immediately available to us and may be used as they are accepted. Purchasers of the Offered Shares will not be entitled to a refund and could lose their entire investments.

Please see the "[Risk Factors](#q1_025)" section, beginning on page 6, for a discussion of the risks associated with a purchase of the Offered Shares.

Please be advised that due to the ownership of super voting rights by our management team in the form of Preferred Shares, your voting rights as a common shareholder will be substantially limited.

*<u>This Offering Circular reflects a 1-for-300 reverse split (the "Reverse Split") of our company's common stock that became effective April 22, 2024 (historical share numbers herein have been restated to reflect the Reverse Split)</u>.*

Sale of these shares will commence within two calendar days of the qualification date and it will be a continuous Offering pursuant to Rule 251(d)(3)(i)(F).

---

| | | | |
|:---|:---|:---|:---|
|  | **Number of Shares** | **Per Share<sup>(1)(2)(3)</sup>** | **Total Maximum** |
| Public Offering Price (1)(2) | 4000000000 | $0.000112 | $448000.00 |
| Underwriting Discounts and Commissions (3) |  |  | $0.00 |
| Proceeds to Company |  |  | $448000.00 |

---

(1) We are offering shares on a continuous basis.

(2) This is a "best effort" offering. The proceeds of this offering will not be placed into an escrow account. We will offer our Common Stock on a best-efforts basis. As there is no minimum offering, upon the approval of any subscription to this Offering Circular, the Company shall immediately deposit said proceeds into the bank account of the Company and may dispose of the proceeds in accordance with the Use of Proceeds.

(3) We are offering these securities without an underwriter.

The terms of this offering were determined arbitrarily by our company. The offering price for the Offered Shares does not necessarily bear any relationship to our company's assets, book value, earnings or other established criteria of valuation. Accordingly, the offering price of the Offered Shares should not be considered as an indication of any intrinsic value of such securities. (See "Risk Factors—Risks Related to a Purchase of Offered Shares" and "[Dilution](#q1_026)").

There is no escrow established for the proceeds of this offering.

Currently, our common stock is quoted in the over-the-counter under the symbol "CBDL" in the OTC Pink marketplace of OTC Link. On May 12, 2026, the closing price of our common stock was $0.00035 per share.

**Investing in the Offered Shares is speculative and involves substantial risks, including the superior voting rights of our outstanding shares of Series A Non-Convertible Preferred Stock, which preclude current and future owners of our common stock, including the Offered Shares, from influencing any corporate decision. The Series A Non-Convertible Preferred Stock has the following voting rights: the shares of Series A Non-Convertible Preferred Stock shall vote together with the shares of our common stock and other voting securities as a single class and shall represent 80% of all votes entitled to be voted at any annual or special meeting of our shareholders. Our Chief Executive Officer, Lisa Nelson, as the owner of all of the outstanding shares of the Series A Non-Convertible Preferred Stock, will, therefore, be able to control the management and affairs of our company, as well as matters requiring the approval by our shareholders, including the election of directors, any merger, consolidation or sale of all or substantially all of our assets, and any other significant corporate transaction. (See "Risk Factors—Risks Related to a Purchase of the Offered Shares").**

**THE SEC DOES NOT PASS UPON THE MERITS OF, OR GIVE ITS APPROVAL TO, ANY SECURITIES OFFERED OR THE TERMS OF THE OFFERING, NOR DOES IT PASS UPON THE ACCURACY OR COMPLETENESS OF ANY OFFERING CIRCULAR OR OTHER SOLICITATION MATERIALS. THESE SECURITIES ARE OFFERED PURSUANT TO AN EXEMPTION FROM REGISTRATION WITH THE SEC. HOWEVER, THE SEC HAS NOT MADE AN INDEPENDENT DETERMINATION THAT THE SECURITIES OFFERED ARE EXEMPT FROM REGISTRATION.**

**The use of projections or forecasts in this offering is prohibited. No person is permitted to make any oral or written predictions about the benefits you will receive from an investment in Offered Shares.**

**No sale may be made to you in this offering if you do not satisfy the investor suitability standards described in this Offering Circular under "[Plan of Distribution-State Law Exemption](#a_111)" and "[Offerings to Qualified Purchasers-Investor Suitability Standards](#a_112)" (page 3). Before making any representation that you satisfy the established investor suitability standards, we encourage you to review Rule 251(d)(2)(i)(C) of Regulation A. For general information on investing, we encourage you to refer to *www.investor.gov*.**

This Offering Circular follows the disclosure format of Form S-1, pursuant to the General Instructions of Part II(a)(1)(ii) of Form 1-A.

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **<u>Page</u>** |
| [Cautionary Statement Regarding Forward-Looking Statements](#q1_022) | 1 |
| [Offering Circular Summary](#q1_023) | 2 |
| [Risk Factors](#q1_025) | 6 |
| [Dilution](#q1_026) | 17 |
| [Use of Proceeds](#q1_027) | 18 |
| [Plan of Distribution](#q1_028) | 19 |
| [Description of Securities](#q1_029) | 22 |
| [Business](#q1_030) | 24 |
| [Management's Discussion and Analysis of Financial Condition and Results of Operations](#q1_031) | 30 |
| [Directors, Executive Officers, Promoters and Control Persons](#q1_032) | 34 |
| [Executive Compensation](#q1_033) | 36 |
| [Security Ownership of Certain Beneficial Owners and Management](#q1_034) | 38 |
| [Certain Relationships and Related Transactions](#q1_035) | 39 |
| [Legal Matters](#q1_036) | 41 |
| [Where You Can Find More Information](#q1_037) | 41 |
| [Index to Financial Statements](#a_110) | F-1 |

---

i

**CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS**

The information contained in this Offering Circular includes some statements that are not historical and that are considered forward-looking statements. Such forward-looking statements include, but are not limited to, statements regarding our development plans for our business; our strategies and business outlook; anticipated development of our company; and various other matters (including contingent liabilities and obligations and changes in accounting policies, standards and interpretations). These forward-looking statements express our expectations, hopes, beliefs and intentions regarding the future. In addition, without limiting the foregoing, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words anticipates, believes, continue, could, estimates, expects, intends, may, might, plans, possible, potential, predicts, projects, seeks, should, will, would and similar expressions and variations, or comparable terminology, or the negatives of any of the foregoing, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this Offering Circular are based on current expectations and beliefs concerning future developments that are difficult to predict. We cannot guarantee future performance, or that future developments affecting our company will be as currently anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

All forward-looking statements attributable to us are expressly qualified in their entirety by these risks and uncertainties. These risks and uncertainties, along with others, are also described below in the Risk Factors section. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You should not place undue reliance on any forward-looking statements and should not make an investment decision based solely on these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

**OFFERING CIRCULAR SUMMARY**

The following summary highlights material information contained in this Offering Circular. This summary does not contain all of the information you should consider before purchasing our common stock. Before making an investment decision, you should read this Offering Circular carefully, including the Risk Factors section and the unaudited consolidated financial statements and the notes thereto. Unless otherwise indicated, the terms we, us and our refer and relate to CBD Life Sciences, Inc., a Nevada corporation, including subsidiaries.

**Our Company**

Our company was incorporated in the State of Nevada on December 31, 2003, as Platinum Consulting Services, Inc. On July 3, 2006, our corporate name changed to Autobidlive Auctions International Inc.; on December 26, 2006, our corporate name changed to Auctions International Inc.; on March 26, 2013, our corporate name changed to Rangemore Film Productions Corp.; on December 19, 2013, our corporate name changed to Cre8tive Works, Inc.; on August 31, 2017, our corporate name changed to Optium Cyber Systems, Inc.

In January 2019, we acquired LBC Bioscience Inc. ("LBC"). LBC develops and markets a line of CBD-based organic products, such as hemp drops, recovery pain relief creams, anxiety and sleep solutions, supplements, edibles and a full line of pet products. In addition, LBC has developed an anti-aging skin product line. LBC's products can be viewed and purchased on our website located at www.thecbdvault.com. In conjunction with the LBC acquisition, we changed our corporate name to CBD Life Sciences Inc.

On June 24, 2024, we changed the name of LBC Bioscience Inc. to The CBD Vault. The CBD Vault is a wholly owned subsidiary of CBD Life Sciences Inc.

Our products' CBD ingredients are derived from hemp. CBD hemp oil is extracted from the cannabis varieties that are naturally abundant in CBD and low in THC (the principal psychoactive constituent (or cannabinoid) of cannabis). An extraction process is used to yield highly concentrated CBD oil that also contains other potentially nutritious materials such as omega-3 fatty acids, terpenes (a class of organic compounds which when modified are used in a variety of medicines and alternative medicines such as aromatherapy), vitamins, chlorophyll and amino acids. Our products are parasite-free. See ("[Business](#q1_030)").

**Recent Events**

*<u>New Products</u>*

Since the beginning of the fourth quarter of 2024, we have introduced several new products, including mushroom powder capsules, a mushroom supplement drink, a mushroom smoothie bar, Delta-8 gummies and, for sale in the equine market, a topical horse paste, CBD Vault Mint Chews, Mushroom Madness Pet Topper, Equine Magic Horse Shampoo, Mushroom Madness Chaga Mushroom Powder, Mushroom Madness Lion's Mane Powder, Turkey Tail Mushroom Powder, CBD Vault Cordyceps Powder and CBD Vault Reishi Mushroom Powder. All of these products will be available on each of our sales platforms.

*<u>Groupon.com<sup>®</sup></u>*. In February 2025, we announced that our premium CBD products would be available on Groupon.com, a large, consumer-centric e-commerce platform that offers "deals" on local services, goods, travel, and activities. This arrangement with Groupon.com is part of our management's strategy of increasing the number of sales platforms through which our products are available to consumers.

*<u>Doordash<sup>®</sup></u>*. In January 2023, we announced that we are in the final stage of gaining approval for consumer deliveries of our CBD products by Doordash, a delivery service that connects customers with local restaurants, convenience stores and other retailers. We believe that approval from Doordash will be achieved. Our seeking this arrangement with Doordash is part of our management's strategy of increasing the number of sales platforms through which our products are available to consumers.

*<u>Walmart Marketplace<sup>®</sup></u>*. In January 2025, we announced that our mushroom gummies, featuring a Lion's Mane mushroom blend, have officially been approved for sale and are now available on Walmart Marketplace. Walmart Marketplace is an online marketplace where third-party sellers can sell their products alongside Walmart's own products. This arrangement with Walmart Marketplace is part of our management's strategy of increasing the number of sales platforms through which our products are available to consumers.

*<u>Cannabis License</u>*. In December 2024, we announced our intent to acquire a cannabis grower license in the State of Nevada. However, since this announcement, we have abandoned these efforts.

*<u>Liquor and Wine Application</u>*. In November 2024, we announced that we had applied for a liquor and wine retail license in the State of Arizona, to facilitate our plans to offer CBD-infused wine and other similar products. While we continue to pursue such license, there is no assurance that we will be successful, in this regard.

*<u>RangeMe<sup>®</sup></u>*. In October 2024, we announced that our CBD products would be available through the B2B (business-to-business) platform, RangeMe, which provides access to over 200,000 retail buyers. It is our expectation that our presence on the RangeMe platform will result in a greater ability to attract potential retail customers. However, there is no assurance that such will be the case.

*<u>Share Buyback</u>*. In December 2024, we announced a share buyback initiative for up to 3.5 billion shares of our common stock that our Board of Directors had approved, believing that such initiative would serve to increase earnings per share, attract new investors and signal market confidence. However, our Board of Directors has determined that only funds derived from operations are to be used for any share buyback transactions, if any; that is, no funds derived from this offering will be used for any share buyback transactions. As of the date of this Offering Circular, no share buyback transactions have been effected by us. There is, of course, no assurance that we will ever be able to effect any share buyback transactions or, if effected, that such share buyback initiative will have any of the intended results.

**Offering Summary**

---

| | |
|:---|:---|
| *Securities Offered* | 4,000,000,000 Offered Shares. |
| *Offering Price* | $0.000112 per Offered Share. |
| *Shares Outstanding*<br> *Before This Offering* | 5,696,998,727 shares issued and outstanding as of the date hereof. |
| *Shares Outstanding*<br> *After This Offering* | 9,696,998,727 shares issued and outstanding, assuming the sale of all of the Offered Shares hereunder. |
| *Minimum Number of Shares*<br> *to Be Sold in This Offering* | None. |
| *Current Financial Condition* | We currently have minimal assets and relatively limited operations. On December 31, 2025, we had a cash balance of $331,598 (unaudited) and, for the twelve months ended December 31, 2025, we reported revenues of $98,321 (unaudited) and a net loss of $48,929 (unaudited). To expand our operations, including the opening of new retail locations, we are dependent upon obtaining funding, either in this offering or from another source. There is no assurance that we will be able to obtain such funding.(See "[Risk Factors](#q1_025)," "[Business](#q1_030)" and "[Management's Discussion and Analysis of Financial Condition and Results of Operations](#q1_031)"). |
| *Disparate Voting Rights* | Our outstanding shares of Series A Non-Convertible Preferred Stock possess superior voting rights, which preclude current and future owners of our common stock, including the Offered Shares, from influencing any corporate decision. The Series A Non-Convertible Preferred Stock has the following voting rights: the shares of Series A Non-Convertible Preferred Stock shall vote together with the shares of our common stock and other voting securities as a single class and shall represent 80% of all votes entitled to be voted at any annual or special meeting of our shareholders. Our Chief Executive Officer, Lisa Nelson, as the owner of all of the outstanding shares of the Series A Non-Convertible Preferred Stock, will, therefore, be able to control the management and affairs of our company, as well as matters requiring the approval by our shareholders, including the election of directors, any merger, consolidation or sale of all or substantially all of our assets, and any other significant corporate transaction. (See "[Risk Factors—Risks Related to a Purchase of the Offered Shares](#a_113)," "[Security Ownership of Certain Beneficial Owners and Management](#q1_034)" and "[Certain Relationships and Related Transactions](#q1_035)"). |
| *Investor Suitability Standards* | The Offered Shares may only be purchased by investors residing in a state in which this Offering Circular is duly qualified who have either (a) a minimum annual gross income of $70,000 and a minimum net worth of $70,000, exclusive of automobile, home and home furnishings, or (b) a minimum net worth of $250,000, exclusive of automobile, home and home furnishings. |
| *Market for our Common Stock* | Our common stock is quoted in the over-the-counter market under the symbol "CBDL" in the OTC Pink marketplace of OTC Link. |
| *Termination of this Offering* | This offering will terminate at the earliest of (a) the date on which the maximum offering has been sold, (b) the date which is one year from this offering circular being qualified by the SEC and (c) the date on which this offering is earlier terminated by us, in our sole discretion. |

---

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| | |
|:---|:---|
| *Use of Proceeds* | We will apply the cash proceeds of this offering for marketing and advertising, trade shows, product development, store expansion, warehouse expense, payroll and working capital. (See "[Use of Proceeds](#q1_027)"). |
| *Risk Factors* | An investment in the Offered Shares involves a high degree of risk and should not be purchased by investors who cannot afford the loss of their entire investments. You should carefully consider the information included in the Risk Factors section of this Offering Circular, as well as the other information contained in this Offering Circular, prior to making an investment decision regarding the Offered Shares. |
| *Corporate Information* | Our principal executive offices are located at 10953 N. Frank Lloyd Wright Boulevard, Suite 108, Scottsdale, Arizona 85259; our telephone number is (480) 209-1720; our corporate website is located at www.thecbdvault.com. No information found on our company's website is part of this Offering Circular. |

---

**Continuing Reporting Requirements Under Regulation A**

As a Tier 1 issuer under Regulation A, we will be required to file with the SEC a Form 1-Z (Exit Report Under Regulation A) upon the termination of this offering. We will not be required to file any other reports with the SEC following this offering.

However, during the pendency of this offering and following this offering, we intend to file quarterly and annual financial reports and other supplemental reports with OTC Markets, which will be available at www.otcmarkets.com.

All of our future periodic reports, whether filed with OTC Markets or the SEC, will not be required to include the same information as analogous reports required to be filed by companies whose securities are listed on the NYSE or NASDAQ, for example.

**RISK FACTORS**

An investment in the Offered Shares involves substantial risks. You should carefully consider the following risk factors, in addition to the other information contained in this Offering Circular, before purchasing any of the Offered Shares. The occurrence of any of the following risks might cause you to lose a significant part of your investment. The risks and uncertainties discussed below are not the only ones we face, but do represent those risks and uncertainties that we believe are most significant to our business, operating results, prospects and financial condition. Some statements in this Offering Circular, including statements in the following risk factors, constitute forward-looking statements. (See "[Cautionary Statement Regarding Forward-Looking Statements](#q1_022)").

**Risks Related to Our Company**

***We have incurred losses in prior periods, and losses in the future could cause the quoted price of our common stock to decline or have a material adverse effect on our financial condition, our ability to pay our debts as they become due, and on our cash flows.*** We have incurred losses in prior periods. For the years ended December 31, 2025, and 2024, we incurred a net loss of $48,929 (unaudited) and $757,189 (unaudited), respectively, and, as of December 31, 2024, we had an accumulated deficit of $15,319,300 (unaudited). For the years ended December 31, 2023, and 2022, we incurred a net loss of $78,574 (unaudited) and $859,804 (unaudited), respectively, and, as of December 31, 2025, we had an accumulated deficit of $15,365,229 (unaudited). Any losses in the future could cause the quoted price of our common stock to decline or have a material adverse effect on our financial condition, our ability to pay our debts as they become due, and on our cash flows.

***There is doubt about our ability to continue as a viable business.*** We have not earned a profit from our operations during recent financial periods. There is no assurance that we will ever earn a profit from our operations in future financial periods.

***We may be unable to obtain sufficient capital to implement our full plan of business.*** Currently, we do not have sufficient financial resources with which to establish our growth strategies. There is no assurance that we will be able to obtain sources of financing, including in this offering, in order to satisfy our working capital needs.

***We do not have a successful operating history.*** We have never earned a profit from our operations. Because of this circumstance, an investment in the Offered Shares is speculative in nature. Because of this lack of operating success, it is difficult to forecast our future operating results. Additionally, our operations will be subject to risks inherent in the implementation of unproven business strategies, including, among other factors, efficiently deploying our capital, developing and implementing our marketing campaigns and strategies and developing greater awareness. Our performance and business prospects will suffer if we are unable to overcome the following challenges, among others:

· our dependence upon external sources for the financing of our operations, particularly given that there are concerns about our ability to continue as a going concern;

· our ability to execute our business strategies;

· our ability to manage our expansion, growth and operating expenses;

· our ability to finance our business;

· our ability to compete and succeed in a highly competitive industry; and

· future geopolitical events and economic crisis.

***There are risks and uncertainties encountered by under-capitalized companies.*** As an under-capitalized company, we are unable to offer assurance that we will be able to overcome our lack of capital, among other challenges.

***We may not be successful in establishing our business model.*** We are unable to offer assurance that we will be successful in expanding our retail business model, particularly as it relates to CBD products. Should we fail to do so, you can expect to lose your entire investment in the Offered Shares.

***We may never earn a profit in future financial periods.*** Because we lack a successful operating history, we are unable to offer assurance that we will ever earn a profit in future financial periods.

***If we are unable to manage future expansion effectively, our business may be adversely impacted.*** In the future, we may experience rapid growth in our operations, which could place a significant strain on our company's infrastructure, in general, and our internal controls and other managerial, operating and financial resources, in particular. If we are unable to manage future expansion effectively, our business would be harmed. There is, of course, no assurance that we will enjoy rapid development in our business.

***We currently depend on the efforts of Chief Executive Officer; the loss of this executive officer could disrupt our operations and adversely affect the further development of our business.*** Our success in establishing and implementing our CBD-focused business strategies will depend, primarily, on the continued service of our Chief Executive Officer, Lisa Nelson. The loss of service of Mrs. Nelson, for any reason, could seriously impair our ability to execute our business plan, which could have a materially adverse effect on our business and future results of operations. We have entered into an employment agreement with Mrs. Nelson, the term of which expires in 2029. Under her employment agreement, Mrs. Nelson is required to devote not less than 30 hours per week to our company's business. (See "[Directors, Executive Officers, Promoters and Control Persons](#q1_032)—Employment Agreement" and "[Certain Relationships and Related Transactions](#q1_035)—Employment Agreement"). We have not purchased any key-man life insurance.

***None of our executive officers devote their full-time efforts to our company's business.*** Because none of our executive officers, including our Chief Executive Officer, Lisa Nelson, is required to devote their full-time efforts to our company's business, it is possible that our business operations could suffer or that our rate of growth could be less robust. We are unable to predict the actual outcome of these circumstances.

***If we are unable to recruit and retain key personnel, our business may be harmed.*** If we are unable to attract and retain key personnel, our business may be harmed. Our failure to enable the effective transfer of knowledge and facilitate smooth transitions with regard to our key employees could adversely affect our long-term strategic planning and execution.

***Our retail strategies centered around CBD products are not based on independent market studies.*** We have not commissioned any independent market studies with respect to the CBD products industry, in general, or with respect to the retail store or online aspects of the CBD products industry. Rather, our plans for implementing our business and achieving profitability are based on the experience, judgment and assumptions of our management. If these assumptions prove to be incorrect, we may not be successful in establishing our business.

***Our Board of Directors may change our policies without shareholder approval.*** Our policies, including any policies with respect to investments, leverage, financing, growth, debt and capitalization, will be determined by our Board of Directors or officers to whom our Board of Directors delegates such authority. Our Board of Directors will also establish the amount of any dividends or other distributions that we may pay to our shareholders. Our Board of Directors or officers to which such decisions are delegated will have the ability to amend or revise these and our other policies at any time without shareholder vote. Accordingly, our shareholders will not be entitled to approve changes in our policies, which policy changes may have a material adverse effect on our financial condition and results of operations.

**Risks Related to Our Business**

***There is no assurance that any of our research and development activities will result in any proprietary technology or commercial products.*** We develop CBD/hemp-oil based and similar products. Competitors may develop and sell superior products performing the same function, or industry participants may not accept or desire those products. We may not be able to protect our proprietary rights, if any, from infringement or theft by third parties. Government regulation may suppress or prevent marketing and sales of our products, even if they can be commercialized.

 ****

***Our business is dependent upon outside suppliers.*** While we develop and manufacture many of our own CBD products, we are reliant on third-party suppliers for raw materials used in manufacturing our in-house products and other suppliers and other manufacturers to obtain our white label and third-party products. We have not entered into any standing agreements with any supplier. Rather, we order needed supplies and white label and third-party products on an ad hoc basis. We do not believe this strategy puts us at risk of being unable to obtain needed supplies and white label and third-party products. However, to the extent to which supply disruptions do occur, it can be expected to have a material adverse effect on our business, financial condition and results of operations.

***Increases in the cost of shipping, postage or credit card processing could harm our business.*** We ship our products to customers by United States mail and other overnight delivery and surface services. We generally invoice the costs of delivery and parcel shipments directly to customers as separate shipping and handling charges. To the extent that increased prices we pay cannot be recouped through increases in our retail prices, our profitability would be negatively affected. Similarly, strikes or other service interruptions by these shippers could limit our ability to market or deliver our products on a timely basis.

***Our future success depends upon brand awareness and the effectiveness of our marketing programs.*** Our future success depends upon our ability to effectively define, evolve and promote our stores and brands. In order to achieve and maintain desirable recognition, we will need to invest in the development of our current brands and future brands through various means, including customer research, advertising and promotional events, direct mail marketing, internet marketing and other measures. Certain external costs may be subject to price fluctuations, such as increases in the cost of mailing or advertising on the internet. We can provide no assurance that the marketing strategies we implement and the investments we make will be successful in building significant brand awareness or attracting new customers.

***Online store features could fail to attract new customers, retain existing customers, or generate revenue.*** Our business strategy is dependent on our ability to develop online store features to attract new customers and retain existing ones. Staffing changes, changes in customer behavior or development of competing networks may cause customers to switch to competing online stores or decrease their use of our online store. To date, our online retail platform is only in its beginning stages, and it has not begun to generate revenue. There is no guarantee that individual customers will use these features and as a result, we may fail to generate revenue. Additionally, any of the following events may cause decreased use of our online store:

· Emergence of competing websites and online retail stores;

· Inability to convince potential customers to shop at our online store;

· A decrease or perceived decrease in the quality of products at our online store;

· An increase in content that is irrelevant to our users;

· Technical issues on certain platforms or in the cross-compatibility of multiple platforms;

· An increase in the level of advertisements may discourage user engagement;

· A rise in safety or privacy concerns; and

· An increase in the level of spam or undesired content on the network.

***Due to our involvement in the cannabis industry, we may have a difficult time obtaining the various insurances that are desired to operate our business, which may expose us to additional risk and financial liabilities.*** Insurance that is otherwise readily available, such as workers' compensation, general liability, and directors and officer's insurance, is more difficult for us to find and more expensive, because we are a service provider to companies in the cannabis industry. There are no guarantees that we will be able to find such insurances in the future, or that the cost will be affordable to us. If we are forced to go without such insurances, it may prevent us from entering into certain business sectors, may inhibit our growth, and may expose us to additional risk and financial liabilities. We do not carry general liability insurance. Because we may be limited in the types of insurance coverage we can obtain, if we are made a party of a legal action, we may not have sufficient funds to defend the litigation. If that occurs a judgment could be rendered against us that could cause us to cease operations or result in other negative material impacts to our business.

***Unfavorable publicity or consumer perception of our products or any similar products distributed by other companies could have a material adverse effect on our business and financial condition.*** We believe our product sales will be highly dependent on consumer perception of the safety, quality and efficacy of our products as well as similar or other products distributed and sold by other companies. Consumer perception of our products can be significantly influenced by scientific research or findings, regulatory investigations, litigation, national media attention, and other publicity including publicity regarding the legality, safety or quality of particular ingredients or products and cannabis markets in general. From time to time, there is unfavorable publicity, scientific research or findings, litigation, regulatory proceedings and other media attention regarding our industry. There can be no assurance that future publicity, scientific research or findings, litigation, regulatory proceedings, or media attention will be favorable to the herbal skin care and cannabis markets or any particular product or ingredient, or consistent with earlier publicity, scientific research or findings, litigation, regulatory proceedings or media attention. Adverse publicity, scientific research or findings, litigation, regulatory proceedings or media attention, whether or not accurate, could have a material adverse effect on our business and financial condition. In addition, adverse publicity, reports or other media attention regarding the safety, quality, or efficacy of our products or ingredients of cannabis products in general, or associating the use of our products or ingredients in general with illness or other adverse effects, whether or not scientifically supported or accurate, could have a material adverse effect on our business and financial condition.

***Operating an online store open to all internet users may result in legal consequences.*** Our Terms and Conditions clearly state that our online store is only to be used by users who are over 21 years old and located where the use of cannabis is permissible under state law and only in a manner which would be permissible under the applicable state law. However, it is impractical to independently verify that all visitors to our online store fit into this description. As such, we run the risk of federal and state law enforcement prosecution.

We have implemented a content reporting review policy to remove any content which violates our Terms and Conditions. We have introduced a system that flags any posts for review, removal, and possible account suspension. As soon as content is flagged by one of our internal or external control systems or by another user, it is removed from view until we have had the time to review the content. There can be no assurance that future administrations will not change its stated policy and begin enforcement of the Federal laws against us or our users. Additionally, there can be no assurance that we will not face criminal prosecution from states where the use of cannabis is permitted for the use of cannabis in ways which do not fall under the state law. Finally, even if we attempt to prevent the use of our product in states where cannabis use is not permitted under state law, use of our app by those in such states may still occur and state authorities may still bring an action against us for the promotion of cannabis related material by those residing in such states.

***We are subject to payment processing risk.*** A significant portion of purchases of our apparel is made in stores and online by customers using credit/debit cards. For the foreseeable future, we intend to rely on third parties to process payment. Acceptance and processing of these payment methods are subject to certain rules and regulations and require payment of interchange and other fees. To the extent there are disruptions in our payment processing systems, our revenue, operating expenses and results of operation could be adversely impacted.

***Our business and operations would be adversely impacted in the event of a failure or interruption of our information technology infrastructure or as a result of a cybersecurity attack.*** The proper functioning of our own information technology (IT) infrastructure is critical to the efficient operation and management of our business. We may not have the necessary financial resources to update and maintain our IT infrastructure, and any failure or interruption of our IT system could adversely impact our operations. In addition, our IT is vulnerable to cyberattacks, computer viruses, worms and other malicious software programs, physical and electronic break-ins, sabotage and similar disruptions from unauthorized tampering with our computer systems. We believe that we have adopted appropriate measures to mitigate potential risks to our technology infrastructure and our operations from these IT-related and other potential disruptions. However, given the unpredictability of the timing, nature and scope of any such IT failures or disruptions, we could potentially be subject to downtimes, transactional errors, processing inefficiencies, operational delays, other detrimental impacts on our operations or ability to provide products to our customers, the compromising of confidential or personal information, destruction or corruption of data, security breaches, other manipulation or improper use of our systems and networks, financial losses from remedial actions, loss of business or potential liability, and/or damage to our reputation, any of which could have a material adverse effect on our cash flows, competitive position, financial condition or results of operations.

***If we fail to comply with personal data protection and privacy laws, we could be subject to adverse publicity, government enforcement actions and/or private litigation, which could negatively affect our business and operating results.*** In the ordinary course of our business, we receive, process, transmit and store information relating to identifiable individuals ("personal data"), primarily employees, former employees and consumers with whom we interact. As a result, we are subject to various U.S. federal and state and foreign laws and regulations relating to personal data. These laws have been subject to frequent changes, and new legislation in this area may be enacted in other jurisdictions at any time. These laws impose operational requirements for companies receiving or processing personal data, and many provide for significant penalties for noncompliance. These requirements with respect to personal data have subjected and may continue in the future to subject our company to, among other things, additional costs and expenses and have required and may in the future require costly changes to our business practices and information security systems, policies, procedures and practices. Our security controls over personal data, the training of employees and vendors on data privacy and data security, and the policies, procedures and practices we implemented or may implement in the future may not prevent the improper disclosure of personal data by us or the third-party service providers and vendors whose technology, systems and services we use in connection with the receipt, storage and transmission of personal data. Unauthorized access or improper disclosure of personal data in violation of personal data protection or privacy laws could harm our reputation, cause loss of consumer confidence, subject us to regulatory enforcement actions (including fines), and result in private litigation against us, which could result in loss of revenue, increased costs, liability for monetary damages, fines and/or criminal prosecution, all of which could negatively affect our business and operating results.

***If our third-party service providers and business partners do not satisfactorily fulfill their commitments and responsibilities, our financial results could suffer.*** In the conduct of our business, we rely on relationships with third parties, including cloud data storage and other information technology service providers, suppliers, distributors, contractors, joint venture partners and other external business partners, for certain functions or for services in support of key portions of our operations. These third-party service providers and business partners are subject to similar risks as we are relating to cybersecurity, privacy violations, business interruption, and systems and employee failures, and are subject to legal, regulatory and market risks of their own. Our third-party service providers and business partners may not fulfill their respective commitments and responsibilities in a timely manner and in accordance with the agreed-upon terms. In addition, while we have procedures in place for selecting and managing our relationships with third-party service providers and other business partners, we do not have control over their business operations or governance and compliance systems, practices and procedures, which increase our financial, legal, reputational and operational risk. If we are unable to effectively manage our third-party relationships, or for any reason our third-party service providers or business partners fail to fulfill their commitments and responsibilities, our financial results could suffer.

***Possible, yet unanticipated, changes in federal and state law could cause any products that we intend to launch containing hemp-derived CBD oil to be illegal, or could otherwise prohibit, limit or restrict any of our products containing CBD.*** Until 2014, when 7 U.S. Code §5940 became federal law as part of the Agricultural Act of 2014 (the "2014 Farm Act"), products containing oils derived from hemp, notwithstanding a minimal or non-existing THC content, were classified as Schedule I illegal drugs. The 2014 Farm Act expired on September 30, 2018, and was thereafter replaced by the Agricultural Improvement Act of 2018 on December 20, 2018 (the "2018 Farm Act "), which amended various sections of the U.S. Code, thereby removing hemp, defined as cannabis with less than 0.3% of THC, from Schedule 1 status under the Controlled Substances Act ("CSA"), and legalizing the cultivation and sale of hemp at the federal level, subject to compliance with certain federal requirements and state law, amongst other things. THC is the psychoactive component of plants in the cannabis family generally identified as marihuana or marijuana.

The 2018 Farm Bill also shifted regulatory authority from the Drug Enforcement Administration to the Department of Agriculture. The 2018 Farm Bill did not change the United States Food and Drug Administration's ("FDA") oversight authority over CBD products. The 2018 Farm Act delegated authority to the states to regulate and limit the production of hemp and hemp derived products within their territories. Although many states have adopted laws and regulations that allow for the production and sale of hemp and hemp derived products under certain circumstances, no assurance can be given that such state laws may not be repealed or amended such that our intended products containing hemp-derived CBD would once again be deemed illegal under the laws of one or more states now permitting such products, which in turn would render such intended products illegal in those states under federal law even if the federal law is unchanged. In the event of either repeal of federal or of state laws and regulations, or of amendments thereto that are adverse to our intended medical CBD products, we may be restricted or limited with respect to those products that we may sell or distribute, which could adversely impact our intended business plan with respect to such intended products.

Additionally, the FDA has indicated its view that certain types of products containing CBD may not be permissible under the United States Federal Food, Drug and Cosmetic Act ("FDCA"). The FDA's position is related to its approval of Epidiolex, a marijuana-derived prescription medicine to be available in the United States. The active ingredient in Epidiolex is CBD. On December 20, 2018, after the passage of the 2018 Farm Bill, FDA Commissioner Scott Gottlieb issued a statement in which he reiterated the FDA's position that, among other things, the FDA requires a cannabis product (hemp-derived or otherwise) that is marketed with a claim of therapeutic benefit, or with any other disease claim, to be approved by the FDA for its intended use before it may be introduced into interstate commerce and that the FDCA prohibits introducing into interstate commerce food products containing added CBD, and marketing products containing CBD as a dietary supplement, regardless of whether the substances are hemp-derived. Although we believe our existing and planned CBD product offerings comply with applicable federal and state laws and regulations, legal proceedings alleging violations of such laws could have a material adverse effect on our business, financial condition and results of operations.

***FDA regulation could negatively affect the hemp industry, which would directly affect our financial condition.*** The FDA may seek expanded regulation of hemp under the FDCA. Additionally, the FDA may issue rules and regulations, including certified good manufacturing practices, or cGMPs, related to the growth, cultivation, harvesting and processing of hemp. Clinical trials may be needed to verify efficacy and safety. It is also possible that the FDA would require that facilities where hemp is grown register with the FDA and comply with certain federally prescribed regulations. In the event that some or all of these regulations are imposed, we do not know what the impact would be on the hemp industry, including what costs, requirements and possible prohibitions may be enforced. If we or our partners are unable to comply with the regulations or registration as prescribed by the FDA, we and/or our partners (including C2M) may be unable to continue to operate their and our business in its current or planned form or at all.

***Sources of hemp-derived CBD depend upon legality of cultivation, processing, marketing and sales of products derived from those plants under state law of the United States.*** Hemp-derived CBD can only be legally produced in states that have laws and regulations that allow for such production and that comply with the 2018 Farm Act, apart from state laws legalizing and regulating medical and recreational cannabis or marijuana, which remains illegal under federal law and regulations. In addition, as described in the preceding risk factor, in the event of repeal or amendment of laws and regulations which are now favorable to the cannabis/hemp industry in such states, we would be required to locate new suppliers in states with laws and regulations that qualify under the 2018 Farm Act. If we were to be unsuccessful in arranging new sources of supply of our raw ingredients, or if our raw ingredients were to become legally unavailable, our intended business plan with respect to such products could be adversely impacted.

***Because we may only sell and ship our products containing hemp-derived CBD in states that have adopted laws and regulations qualifying under the 2018 Farm Act, a reduction in the number of states having such qualifying laws and regulations could limit, restrict or otherwise preclude the sale of intended products containing hemp-derived CBD.*** The interstate shipment of hemp-derived CBD from one state to another is legal only where both states have laws and regulations that allow for the production and sale of such products and that qualify under the 2018 Farm Act. Therefore, the marketing and sale of our intended products containing hemp-derived CBD is limited by such factors and is restricted to such states. Although we believe we may lawfully sell any of our finished products, including those containing CBD, in a majority of states, a repeal or adverse amendment of laws and regulations that are now favorable to the distribution, marketing and sale of finished products we intend to sell could significantly limit, restrict or prevent us from generating revenue related to our products that contain hemp-derived CBD. Any such repeal or adverse amendment of now favorable laws and regulations could have an adverse impact on our business plan with respect to such products.

***Our products may not meet health and safety standards or could become contaminated.*** We have adopted various quality, environmental, health and safety standards. We do not have control over all of the third parties involved in the manufacturing of our products and their compliance with government health and safety standards. Even if our products meet these standards, they could otherwise become contaminated. A failure to meet these standards or contamination could occur in our operations or those of our manufacturers, distributors or suppliers. This could result in expensive production interruptions, recalls and liability claims. Moreover, negative publicity could be generated from false, unfounded or nominal liability claims or limited recalls. Any of these failures or occurrences could negatively affect our business and financial performance.

***The sale of our products involves product liability and related risks that could expose us to significant insurance and loss expenses.*** We face an inherent risk of exposure to product liability claims if the use of our products results in, or is believed to have resulted in, illness or injury. Our products contain combinations of ingredients, and there is little long-term experience with the effect of these combinations. In addition, interactions of these products with other products, prescription medicines and over-the-counter drugs have not been fully explored or understood and may have unintended consequences. While our third-party manufacturers perform tests in connection with the formulations of our products, these tests are not designed to evaluate the inherent safety of our products.

Any product liability claim may increase our costs and adversely affect our revenue and operating income. Moreover, liability claims arising from a serious adverse event may increase our costs through higher insurance premiums and deductibles and may make it more difficult to secure adequate insurance coverage in the future. In addition, our product liability insurance may fail to cover future product liability claims, which, if adversely determined, could subject us to substantial monetary damages.

***Confusion between legal Cannabis and illegal Cannabis.*** There is risk that confusion or uncertainty surrounding our products with regulated cannabis could occur on the state or federal level and impact us. We may have difficulty with establishing banking relationships, working with investment banks and brokers who would be willing to offer and sell our securities or accept deposits from shareholders, and auditors willing to certify our financial statements if we are confused with businesses that are in the cannabis business. Any of these additional factors, should they occur, could also affect our business, prospects, assets or results of operation could have a material adverse effect on our business, prospects, results of operations or financial condition.

***We are subject to product liability.*** We face an inherent risk of exposure to product liability claims, regulatory action and litigation if its products are alleged to have caused significant loss or injury. In addition, the sale of our products would involve the risk of injury to consumers due to tampering by unauthorized third parties or product contamination. Previously unknown adverse reactions resulting from human consumption of our products alone or in combination with other medications or substances could occur. We may be subject to various product liability claims, including, among others, that our products caused injury or illness or death, include inadequate instructions for use or include inadequate warnings concerning possible side effects or interactions with other substances. A product liability claim or regulatory action against us could result in increased costs, could adversely affect our reputation with clients and consumers generally, and could have a material adverse effect on our business, results of operations and financial condition. There can be no assurances that we will be able to obtain or maintain product liability insurance on acceptable terms or with adequate coverage against potential liabilities. Such insurance is expensive and may not be available in the future on acceptable terms, or at all. The inability to obtain sufficient insurance coverage on reasonable terms or to otherwise protect against potential product liability claims could prevent or inhibit the commercialization of our potential products.

***We are subject to product recalls.*** Manufacturers and distributors of products are sometimes subject to the recall or return of their products for a variety of reasons, including product defects, such as contamination, unintended harmful side effects or interactions with other substances, packaging safety and inadequate or inaccurate labeling disclosure. If any of our products are recalled due to an alleged product defect or for any other reason, we could be required to incur the unexpected expense of the recall and any legal proceedings that might arise in connection with the recall. We may lose a significant amount of sales and may not be able to replace those sales at an acceptable margin or at all. In addition, a product recall may require significant management attention. Although we have detailed procedures in place for testing its products, there can be no assurance that any quality, potency or contamination problems will be detected in time to avoid unforeseen product recalls, regulatory action or lawsuits. Additionally, if one of our significant brands were subject to recall, the image of that brand and our company could be harmed. A recall for any of the foregoing reasons could lead to decreased demand for our products and could have a material adverse effect on our results of operations and financial condition. Additionally, product recalls may lead to increased scrutiny of our operations by the U.S. Food and Drug Administration, or other regulatory agencies, requiring further management attention and potential legal fees and other expenses.

***Because we manufacture and sell CBD products, it is possible that, in the future, we may have difficulty accessing the service of banks.*** While industrial hemp cultivation was legalized by the 2018 Farm Bill, the FDA is choosing to regulate certain hemp products, including CBD. It is possible that the circumstances surrounding the FDA's handling of CBD-related issues could cause us to have difficulty securing services from banks, in the future.

***If our trademarks and other proprietary rights are not adequately protected to prevent use or appropriation by competitors, the value of our brands may be diminished, and our business adversely affected.*** We rely, and expect to continue to rely, on a combination of confidentiality and license agreements with employees, consultants and third parties with whom we have relationships, as well as trademark protection laws, to protect our proprietary rights. If the protection of our intellectual property rights is inadequate to prevent use or misappropriation by third parties, the value of our brands may be diminished, and the perception of our products may become confused in the marketplace. In such circumstance, our business could be adversely affected.

**Risks Related to Compliance and Regulation**

***We will not have reporting obligations under Sections 14 or 16 of the Securities Exchange Act of 1934, nor will any shareholders have reporting requirements of Regulation 13D or 13G, nor Regulation 14D.*** So long as our common shares are not registered under the Exchange Act, our directors and executive officers and beneficial holders of 10% or more of our outstanding common shares will not be subject to Section 16 of the Exchange Act. Section 16(a) of the Exchange Act requires executive officers and directors and persons who beneficially own more than 10% of a registered class of equity securities to file with the SEC initial statements of beneficial ownership, reports of changes in ownership and annual reports concerning their ownership of common shares and other equity securities, on Forms 3, 4 and 5, respectively. Such information about our directors, executive officers and beneficial holders will only be available through periodic reports we file with OTC Markets.

Our common stock is not registered under the Exchange Act and we do not intend to register our common stock under the Exchange Act for the foreseeable future; provided, however, that we will register our common stock under the Exchange Act if we have, after the last day of any fiscal year, more than either (1) 2,000 persons; or (2) 500 shareholders of record who are not accredited investors, in accordance with Section 12(g) of the Exchange Act.

Further, as long as our common stock is not registered under the Exchange Act, we will not be subject to Section 14 of the Exchange Act, which, among other things, prohibits companies that have securities registered under the Exchange Act from soliciting proxies or consents from shareholders without furnishing to shareholders and filing with the SEC a proxy statement and form of proxy complying with the proxy rules.

The reporting required by Section 14(d) of the Exchange Act provides information to the public about persons other than the company who is making the tender offer. A tender offer is a broad solicitation by a company or a third party to purchase a substantial percentage of a company's common stock for a limited period of time. This offer is for a fixed price, usually at a premium over the current market price, and is customarily contingent on shareholders tendering a fixed number of their shares.

In addition, as long as our common stock is not registered under the Exchange Act, our company will not be subject to the reporting requirements of Regulation 13D and Regulation 13G, which require the disclosure of any person who, after acquiring directly or indirectly the beneficial ownership of any equity securities of a class, becomes, directly or indirectly, the beneficial owner of more than 5% of the class.

***There may be deficiencies with our internal controls that require improvements.*** Our company is not required to provide a report on the effectiveness of our internal controls over financial reporting. We are in the process of evaluating whether our internal control procedures are effective and, therefore, there is a greater likelihood of undiscovered errors in our internal controls or reported financial statements as compared to issuers that have conducted such independent evaluations.

**Risks Related to Our Organization and Structure**

***As a non-listed company conducting an exempt offering pursuant to Regulation A, we are not subject to a number of corporate governance requirements, including the requirements for independent board members.*** As a non-listed company conducting an exempt offering pursuant to Regulation A, we are not subject to a number of corporate governance requirements that an issuer conducting an offering on Form S-1 or listing on a national stock exchange would be. Accordingly, we are not required to have (a) a board of directors of which a majority consists of independent directors under the listing standards of a national stock exchange, (b) an audit committee composed entirely of independent directors and a written audit committee charter meeting a national stock exchange's requirements, (c) a nominating/corporate governance committee composed entirely of independent directors and a written nominating/ corporate governance committee charter meeting a national stock exchange's requirements, (d) a compensation committee composed entirely of independent directors and a written compensation committee charter meeting the requirements of a national stock exchange, and (e) independent audits of our internal controls. Accordingly, you may not have the same protections afforded to shareholders of companies that are subject to all of the corporate governance requirements of a national stock exchange.

***Our holding company structure makes us dependent on our subsidiaries for our cash flow and could serve to subordinate the rights of our shareholders to the rights of creditors of our subsidiaries, in the event of an insolvency or liquidation of any such subsidiary.*** Our company acts as a holding company and, accordingly, substantially all of our operations are conducted through our subsidiaries. Such subsidiaries will be separate and distinct legal entities. As a result, substantially all of our cash flow will depend upon the earnings of our subsidiaries. In addition, we will depend on the distribution of earnings, loans or other payments by our subsidiaries. No subsidiary will have any obligation to provide our company with funds for our payment obligations. If there is an insolvency, liquidation or other reorganization of any of our subsidiaries, our shareholders will have no right to proceed against their assets. Creditors of those subsidiaries will be entitled to payment in full from the sale or other disposal of the assets of those subsidiaries before our company, as a shareholder, would be entitled to receive any distribution from that sale or disposal.

**Risks Related to a Purchase of the Offered Shares**

***The outstanding shares of Series A Non-Convertible Preferred Stock preclude current and future owners of our common stock from influencing any corporate decision.*** Our Chief Executive Officer, Lisa Nelson, owns all of the outstanding shares of our Series A Non-Convertible Preferred Stock. The Series A Non-Convertible Preferred Stock has the following voting rights: the shares of Series A Non-Convertible Preferred Stock shall vote together with the shares of our common stock and other voting securities as a single class and shall represent 80% of all votes entitled to be voted at any annual or special meeting of our shareholders. Mrs. Nelson will, therefore, be able to control the management and affairs of our company, as well as matters requiring the approval of our shareholders, including the election of directors, any merger, consolidation or sale of all or substantially all of our assets, and any other significant corporate transaction. (See "[Security Ownership of Certain Beneficial Owners and Management](#q1_034)").

***There is no escrow established for the proceeds of this offering.*** Because there is no escrow established for the proceeds of this offering, proceeds derived from sales of Offered Shares will be deposited directly into our operating account, will be available for immediate use by our company and will be immediately subject to any claims of our creditors.

***There is no minimum offering, and no person has committed to purchase any of the Offered Shares.*** We have not established a minimum offering hereunder, which means that we will be able to accept even a nominal amount of proceeds, even if such amount of proceeds is not sufficient to permit us to achieve any of our business objectives. In this regard, there is no assurance that we will sell any of the Offered Shares, or that we will sell enough of the Offered Shares necessary to achieve any of our business objectives. Additionally, no person is committed to purchase any of the Offered Shares.

***We may seek additional capital that may result in shareholder dilution or that may have rights senior to those of our common stock.*** From time to time, we may seek to obtain additional capital, either through equity, equity-linked or debt securities. The decision to obtain additional capital will depend on, among other factors, our business plans, operating performance and condition of the capital markets. If we raise additional funds through the issuance of equity, equity-linked or debt securities, those securities may have rights, preferences or privileges senior to the rights of our common stock, which could negatively affect the market price of our common stock or cause our shareholders to experience dilution.

***We may not be able to fund our recently announced share buyback initiative***. In December 2024, we announced a share buyback initiative for up to 3.5 billion shares of our common stock that our Board of Directors had approved, believing that such initiative would serve to increase earnings per share, attract new investors and signal market confidence. However, our Board of Directors has determined that only funds derived from operations are to be used for any share buyback transactions, if any; that is, no funds derived from this offering will be used for any share buyback transactions. As of the date of this Offering Circular, no share buyback transactions have been effected by us. There is, of course, no assurance that we will ever be able to effect any share buyback transactions or, if effected, that such share buyback initiative will have any of the intended results.

***You may never realize any economic benefit from the purchase of Offered Shares.*** Because our common stock is volatile and thinly traded, there is no assurance that you will ever realize any economic benefit from your purchase of Offered Shares.

***We do not intend to pay dividends on our common stock.*** We intend to retain earnings, if any, to provide funds for the implementation of our business strategy. We do not intend to declare or pay any dividends in the foreseeable future. Therefore, there can be no assurance that holders of our common stock will receive cash, stock or other dividends on their shares of our common stock, until we have funds which our Board of Directors determines can be allocated to dividends.

***Our shares of common stock are Penny Stock, which may impair trading liquidity.*** Disclosure requirements pertaining to penny stocks may reduce the level of trading activity in the market for our common stock and investors may find it difficult to sell their shares. Trades of our common stock will be subject to Rule 15g-9 of the SEC, which rule imposes certain requirements on broker-dealers who sell securities subject to the rule to persons other than established customers and accredited investors. For transactions covered by the rule, broker-dealers must make a special suitability determination for purchasers of the securities and receive the purchaser's written agreement to the transaction prior to sale. The SEC also has rules that regulate broker-dealer practices in connection with transactions in penny stocks. Penny stocks generally are equity securities with a price of less than $5.00 (other than securities registered on certain national securities exchanges or quoted on the NASDAQ system, provided that current price and volume information with respect to transactions in that security is provided by the exchange or system). The penny stock rules require a broker-dealer, prior to a transaction in a penny stock not otherwise exempt from the rules, to deliver a standardized risk disclosure document that provides information about penny stocks and the nature and level of risks in the penny stock market. The broker-dealer also must provide the customer with current bid and offer quotations for the penny stock, the compensation of the broker-dealer and its salesperson in the transaction, and monthly account statements showing the market value of each penny stock held in the customer's account. The bid and offer quotations, and the broker-dealer and salesperson compensation information, must be given to the customer orally or in writing prior to effecting the transaction and must be given to the customer in writing before or with the customer's confirmation.

***Our common stock is thinly traded, and its market price may become highly volatile.*** There is currently only a limited market for our common stock. A limited market is characterized by a relatively limited number of shares in the public float, relatively low trading volume and a small number of brokerage firms acting as market makers. The market for low priced securities is generally less liquid and more volatile than securities traded on national stock markets. Wide fluctuations in market prices are not uncommon. No assurance can be given that the market for our common stock will continue. The price of our common stock may be subject to wide fluctuations in response to factors such as the following, some of which are beyond our control:

· quarterly variations in our operating results;

· operating results that vary from the expectations of investors;

· changes in expectations as to our future financial performance, including financial estimates by investors;

· reaction to our periodic filings, or presentations by executives at investor and industry conferences;

· changes in our capital structure;

· announcements of innovations or new services by us or our competitors;

· announcements by us or our competitors of significant contracts, acquisitions, strategic partnerships, joint ventures or capital commitments;

· lack of success in the expansion of our business operations;

· announcements by third parties of significant claims or proceedings against our company or adverse developments in pending proceedings;

· additions or departures of key personnel;

· asset impairment;

· temporary or permanent inability to operate our retail location(s); and

· rumors or public speculation about any of the above factors.

 ****

***The terms of this offering were determined arbitrarily.*** The terms of this offering were determined arbitrarily by us. The offering price for the Offered Shares does not necessarily bear any relationship to our company's assets, book value, earnings or other established criteria of valuation. Accordingly, the offering price of the Offered Shares, should not be considered as an indication of any intrinsic value of such securities. (See "[Dilution](#q1_026)").

***Our common stock is subject to price volatility unrelated to our operations.*** The market price of our common stock could fluctuate substantially due to a variety of factors, including market perception of our ability to achieve our planned growth, quarterly operating results of other companies in the same industry, trading volume in our common stock, changes in general conditions in the economy and the financial markets or other developments affecting our company's competitors or our company itself. In addition, the over-the-counter stock market is subject to extreme price and volume fluctuations in general. This volatility has had a significant effect on the market price of securities issued by many companies for reasons unrelated to their operating performance and could have the same effect on our common stock.

***Future sales of our common stock, or the perception in the public markets that these sales may occur, could reduce the market price of our common stock.*** In general, our officers and directors and major shareholders, as affiliates, under Rule 144 may not sell more than one percent of the total issued and outstanding shares in any 90-day period and must resell the shares in an unsolicited brokerage transaction at the market price. The availability for sale of substantial amounts of our common stock under Rule 144 or otherwise could reduce prevailing market prices for our common stock.

***You will suffer dilution in the net tangible book value of the Offered Shares you purchase in this offering.*** If you acquire any Offered Shares, you will suffer immediate dilution, due to the lower book value per share of our common stock compared to the purchase price of the Offered Shares, in this offering. (See "[Dilution](#q1_026)").

***As an issuer of penny stock, the protection provided by the federal securities laws relating to forward looking statements does not apply to us.*** Although federal securities laws provide a safe harbor for forward-looking statements made by a public company that files reports under the federal securities laws, this safe harbor is not available to issuers of penny stocks. As a result, we will not have the benefit of this safe harbor protection in the event of any legal action based upon a claim that the material provided by us contained a material misstatement of fact or was misleading in any material respect because of our failure to include any statements necessary to make the statements not misleading. Such an action could hurt our financial condition.

**DILUTION**

Dilution in net tangible book value per share to purchasers of our common stock in this offering represents the difference between the amount per share paid by purchasers of the Offered Shares, in this offering and the net tangible book value per share immediately after completion of this offering. In this offering, dilution is attributable primarily to our negative net tangible book value per share.

If you purchase Offered Shares in this offering, your investment will be diluted to the extent of the difference between your purchase price per Offered Shares and the net tangible book value of our common stock after this offering. Our net tangible book value as of December 31. 2025, was $748,728 (unaudited), or $0.0001 per share. Net tangible book value per share is equal to total assets minus the sum of total liabilities and intangible assets divided by the total number of shares outstanding.

The tables below illustrate the dilution to purchasers of Offered Shares in this offering, on a pro forma basis, assuming 100%, 75%, 50% and 25% of the Offered Shares are sold at an offering price of $0.00014.

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| | |
|:---|:---|
| ***Assuming the Sale of 100% of the Offered Shares*** | |
| Assumed offering price per share | $0.00014 |
| **Net tangible book value per share as of December 31, 2025 (unaudited)** | $**0.00010** |
| Increase in net tangible book value per share after giving effect to this offering | $0.00003 |
| Pro forma net tangible book value per share as of September 30, 2024 (unaudited) | $0.00013 |
| **Dilution in net tangible book value per share to purchasers of Offered Shares in this offering** | $**0.00001** |

---

---

| | |
|:---|:---|
| ***Assuming the Sale of 75% of the Offered Shares*** | |
| Assumed offering price per share | $0.00014 |
| **Net tangible book value per share as of December 31, 2025 (unaudited)** | $**0.00010** |
| Increase in net tangible book value per share after giving effect to this offering | $0.00003 |
| Pro forma net tangible book value per share as of September 30, 2024 (unaudited) | $0.00013 |
| **Dilution in net tangible book value per share to purchasers of Offered Shares in this offering** | $**0.00001** |

---

---

| | |
|:---|:---|
| ***Assuming the Sale of 50% of the Offered Shares*** | |
| Assumed offering price per share | $.0.00014 |
| **Net tangible book value per share as of December 31, 2025 (unaudited)** | $**0.00010** |
| Increase in net tangible book value per share after giving effect to this offering | $0.00002 |
| Pro forma net tangible book value per share as of September 30, 2024 (unaudited) | $0.00012 |
| Dilution in net tangible book value per share to purchasers of Offered Shares in this offering | $**0.00002** |

---

---

| | |
|:---|:---|
| ***Assuming the Sale of 25% of the Offered Shares*** | |
| Assumed offering price per share | $.0.00014 |
| **Net tangible book value per share as of December 31, 2025 (unaudited)** | $**0.00010** |
| Increase in net tangible book value per share after giving effect to this offering | $0.00002 |
| Pro forma net tangible book value per share as of September 30, 2024 (unaudited) | $0.00012 |
| **Dilution in net tangible book value per share to purchasers of Offered Shares in this offering** | $**0.00002** |

---

**USE OF PROCEEDS**

The table below sets forth the estimated proceeds we would derive from this offering, assuming the sale of 25%, 50%, 75% and 100% of the Offered Shares at a price of $0.000112 per Offered Share and assuming the payment of no sales commissions or finder's fees. There is, of course, no guaranty that we will be successful in selling any of the Offered Shares in this offering.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Assumed Percentage of Offered Shares Sold in This Offering** | **Assumed Percentage of Offered Shares Sold in This Offering** | **Assumed Percentage of Offered Shares Sold in This Offering** | **Assumed Percentage of Offered Shares Sold in This Offering** |
|  | **25%** | **50%** | **75%** | **100%** |
| Offered Shares sold | 1000000000 | 2000000000 | 3000000000 | 4000000000 |
| Gross proceeds | $112000 | $224000 | $336000 | $448000 |
| Offering expenses**<sup>(1)</sup>** | 22000 | 22000 | 22000 | 22000 |
| Net proceeds | $90000 | $202000 | $314000 | $426000 |

---

__________________

(1) Offering expenses include the following items, certain of which are estimated for purposes of this table: legal fees and Blue-Sky compliance.

The table below sets forth the estimated proceeds we would derive from this offering, assuming (1) the sale of 25%, 50%, 75% and 100% of the Offered Shares, (b) assuming an offering price of $0.000112 and (c) assuming the payment of no sales commissions or finder's fees. There is, of course, no guaranty that we will be successful in selling any of the Offered Shares in this offering. All amounts set forth below are estimates.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Use of Proceeds for Assumed Percentage**<br> **of Offered Shares Sold in This Offering** | **Use of Proceeds for Assumed Percentage**<br> **of Offered Shares Sold in This Offering** | **Use of Proceeds for Assumed Percentage**<br> **of Offered Shares Sold in This Offering** | **Use of Proceeds for Assumed Percentage**<br> **of Offered Shares Sold in This Offering** |
|  | **25%** | **50%** | **75%** | **100%** |
| Inventory | $20000 | $40000 | $60000 | $80000 |
| Marketing and Advertising | 10000 | 20000 | 30000 | 40000 |
| Trade Shows | 5000 | 10000 | 15000 | 20000 |
| Product Development | 20000 | 40000 | 60000 | 80000 |
| Office and Lab Expense | 10000 | 20000 | 30000 | 30000 |
| Payroll Expense (1) | 20000 | 50000 | 100000 | 150000 |
| Working Capital | 5000 | 22000 | 19000 | 26000 |
| **Total Net Proceeds** | $90000 | $202000 | $314000 | $426000 |

---

(1) We intend to apply up to $150,000 of proceeds in compensating our management, including our Chief Executive Officer and our Chief Product Developer.

We reserve the right to change the foregoing use of proceeds, should our management believe it to be in the best interest of our company. The allocations of the proceeds of this offering presented above constitute the current estimates of our management and are based on our current plans, assumptions made with respect to the CBD industry, general economic conditions and our future revenue and expenditure estimates.

Investors are cautioned that expenditures may vary substantially from the estimates presented above. Investors must rely on the judgment of our management, who will have broad discretion regarding the application of the proceeds of this offering. The amounts and timing of our actual expenditures will depend upon numerous factors, including market conditions, cash generated by our operations (if any), business developments and the rate of our growth. We may find it necessary or advisable to use portions of the proceeds of this offering for other purposes.

In the event we do not obtain the entire offering amount hereunder, we may attempt to obtain additional funds through private offerings of our securities or by borrowing funds. Currently, we do not have any committed sources of financing.

**PLAN OF DISTRIBUTION**

**In General**

Our company is offering a maximum of 4,000,000,000 Offered Shares, on a best-efforts basis. The Offered Shares are being offered at a fixed price of $0.000112 per Offered Share; any funds derived from this offering will be immediately available to us for our use. There will be no refunds.

Further, our Board of Directors has determined that, in our company's sole discretion, we may issue Offered Shares in this offering for non-cash consideration, including, without limitation, promissory notes, services and/or other consideration without notice to subscribers in this offering; provided, however, that any Offered Shares issued in this manner shall be issued at the fixed price $0.000112 per Offered Share.

This offering will terminate at the earliest of (a) the date on which the maximum offering has been sold, (b) the date which is one year from this offering being qualified by the SEC or (c) the date on which this offering is earlier terminated by us, in our sole discretion.

There is no minimum number of Offered Shares that we are required to sell in this offering. All funds derived by us from this offering will be immediately available for use by us, in accordance with the uses set forth in the Use of Proceeds section of this Offering Circular. No funds will be placed in an escrow account during the offering period, and no funds will be returned, once an investor's subscription agreement has been accepted by us.

We intend to sell the Offered Shares in this offering through the efforts of our Chief Executive Officer, Lisa Nelson. Mrs. Nelson will not receive any compensation for offering or selling the Offered Shares. We believe that Mrs. Nelson is exempt from registration as a broker-dealer under the provisions of Rule 3a4-1 promulgated under the Securities Exchange Act of 1934 (the Exchange Act). In particular, Mrs. Nelson:

· is not subject to a statutory disqualification, as that term is defined in Section 3(a)(39) of the Securities Act; and

· is not to be compensated in connection with his participation by the payment of commissions or other remuneration based either directly or indirectly on transactions in securities; and

· is not an associated person of a broker or dealer; and

· meets the conditions of the following:

· primarily performs, and will perform at the end of this offering, substantial duties for us or on our behalf otherwise than in connection with transactions in securities; and

· was not a broker or dealer, or an associated person of a broker or dealer, within the preceding 12 months; and

· did not participate in selling an offering of securities for any issuer more than once every 12 months other than in reliance on paragraphs (a)(4)(i) or (iii) of Rule 3a4-1 under the Exchange Act.

As of the date of this Offering Circular, we have not entered into any agreements with selling agents for the sale of the Offered Shares. However, we reserve the right to engage FINRA-member broker-dealers. In the event we engage FINRA-member broker-dealers, we expect to pay sales commissions of up to 8.0% of the gross offering proceeds from their sales of the Offered Shares. In connection with our appointment of a selling broker-dealer, we intend to enter into a standard selling agent agreement with the broker-dealer pursuant to which the broker-dealer would act as our non-exclusive sales agent in consideration of our payment of commissions of up to 8.0% on the sale of Offered Shares effected by the broker-dealer.

**Procedures for Subscribing**

If you are interested in subscribing for Offered Shares in this offering, please submit a request for information by e-mail to Mrs. Nelson at: lisa@thecbdvault.com; all relevant information will be delivered to you by return e-mail.

Thereafter, should you decide to subscribe for Offered Shares, you are required to follow the procedures described therein, which are:

· Electronically execute and deliver to us a subscription agreement; and

· Deliver funds directly by check or by wire or electronic funds transfer via ACH to our specified bank account.

*<u>Right to Reject Subscriptions</u>*. After we receive your complete, executed subscription agreement and the funds required under the subscription agreement have been transferred to us, we have the right to review and accept or reject your subscription in whole or in part, for any reason or for no reason. We will return all monies from rejected subscriptions immediately to you, without interest or deduction.

*<u>Acceptance of Subscriptions</u>*. Upon our acceptance of a subscription agreement, we will countersign the subscription agreement and issue the Offered Shares subscribed. Once you submit the subscription agreement and it is accepted, you may not revoke or change your subscription or request your subscription funds. All accepted subscription agreements are irrevocable.

This Offering Circular will be furnished to prospective investors upon their request via electronic PDF format and will be available for viewing and download 24 hours per day, 7 days per week on our company's page on the SEC's website: www.sec.gov.

An investor will become a shareholder of our Company, and the Offered Shares will be issued, as of the date of settlement. Settlement will not occur until an investor's funds have cleared and we accept the investor as a shareholder.

By executing the subscription agreement and paying the total purchase price for the Offered Shares subscribed, each investor agrees to accept the terms of the subscription agreement and attests that the investor meets certain minimum financial standards. (See "State Qualification and [Investor Suitability Standards](#a_114)" below).

An approved trustee must process and forward to us subscriptions made through IRAs, Keogh plans and 401(k) plans. In the case of investments through IRAs, Keogh plans and 401(k) plans, we will send the confirmation and notice of our acceptance to the trustee.

**Minimum Purchase Requirements**

There are no minimum purchase requirements.

**State Law Exemption and Offerings to Qualified Purchasers**

*<u>State Law Exemption</u>*. This Offering Circular does not constitute an offer to sell or the solicitation of an offer to purchase any Offered Shares in any jurisdiction in which, or to any person to whom, it would be unlawful to do so. An investment in the Offered Shares involves substantial risks and possible loss by investors of their entire investments. (See "[Risk Factors](#q1_025)").

The Offered Shares have not been qualified under the securities laws of any state or jurisdiction. Currently, we plan to sell the Offered Shares in Colorado, Delaware, Florida and New York. However, we may, at a later date, decide to sell Offered Shares in other states. In the case of each state in which we sell the Offered Shares, we will qualify the Offered Shares for sale with the applicable state securities regulatory body, or we will sell the Offered Shares pursuant to an exemption from registration found in the applicable state's securities or Blue Sky law.

Certain of our offerees may be broker-dealers registered with the SEC under the Exchange Act, who may be interested in reselling the Offered Shares to others. Any such broker-dealer will be required to comply with the rules and regulations of the SEC and FINRA relating to underwriters.

*<u>Investor Suitability Standards</u>*. The Offered Shares may only be purchased by investors residing in a state in which this Offering Circular is duly qualified who have either (a) a minimum annual gross income of $70,000 and a minimum net worth of $70,000, exclusive of automobile, home and home furnishings, or (b) a minimum net worth of $250,000, exclusive of automobile, home and home furnishings.

**Issuance of the Offered Shares**

Upon settlement, that is, at such time as an investor's funds have cleared and we have accepted an investor's subscription agreement, we will either issue such investor's purchased Offered Shares in book-entry form or issue a certificate or certificates representing such investor's purchased Offered Shares.

**Transferability of the Offered Shares**

The Offered Shares will be freely transferable, upon their respective issuances.

**Advertising, Sales and Other Promotional Materials**

In addition to this Offering Circular, subject to limitations imposed by applicable securities laws, we expect to use additional advertising, sales and other promotional materials in connection with this offering. These materials may include information relating to this offering, articles and publications concerning industries relevant to our business operations or public advertisements and audio-visual materials, in each case only as authorized by us. In addition, the sales material may contain certain quotes from various publications without obtaining the consent of the author or the publication for use of the quoted material in the sales material. Although these materials will not contain information in conflict with the information provided by this Offering Circular and will be prepared with a view to presenting a balanced discussion of risk and reward with respect to the Offered Shares, these materials will not give a complete understanding of our company, this offering or the Offered Shares and are not to be considered part of this Offering Circular. This offering is made only by means of this Offering Circular and prospective investors must read and rely on the information provided in this Offering Circular in connection with their decision to invest in the Offered Shares.

**DESCRIPTION OF SECURITIES**

**General**

Our authorized capital stock consists of (a) 10,000,000,000 shares of common stock, $.0001 par value per share; and (b) 100,000,000 shares of Preferred Stock, $.0001 par value per share, 66,081,530 shares of which have been designated Series A Non-Convertible Preferred Stock.

As of the date of this Offering Circular, there were 5,696,998,727 shares of our common stock issued and outstanding held by 87 holders of record; and 66,081,530 shares of Series A Non-Convertible Preferred Stock issued and outstanding held by two holders of record.

**Common Stock**

*<u>This Offering Circular reflects a 1-for-300 reverse split (the Reverse Split) of our company's common stock that became effective April 22, 2024 (historical share numbers herein have been restated to reflect the Reverse Split).</u>*

*<u>General</u>*. The holders of our common stock currently have (a) equal ratable rights to dividends from funds legally available therefore, when, as and if declared by our Board of Directors; (b) are entitled to share ratably in all of our assets available for distribution to holders of common stock upon liquidation, dissolution or winding up of the affairs of our company; (c) do not have preemptive, subscriptive or conversion rights and there are no redemption or sinking fund provisions or rights applicable thereto; and (d) are entitled to one non-cumulative vote per share on all matters on which shareholders may vote. Our Bylaws provide that, at all meetings of the shareholders for the election of directors, a plurality of the votes cast shall be sufficient to elect. On all other matters, except as otherwise required by Nevada law or our Articles of Incorporation, as amended, a majority of the votes cast at a meeting of the shareholders shall be necessary to authorize any corporate action to be taken by vote of the shareholders.

*<u>Non-cumulative Voting</u>*. Holders of shares of our common stock do not have cumulative voting rights, which means that the holders of more than 50% of the outstanding shares, voting for the election of directors, can elect all of the directors to be elected, if they so choose, and, in such event, the holders of the offered shares will not be able to elect any of our directors.

Further, all of the outstanding shares of Series A Non-Convertible Preferred Stock are owned by our Chief Executive Officer, Lisa Nelson. Mrs. Nelson, thus, controls all corporate matters of our company. (See "[Security Ownership of Certain Beneficial Owners and Management](#q1_034)" and "[Certain Relationships and Related Transactions](#q1_035)").

*<u>Pre-emptive Rights</u>*. As of the date of this Offering Circular, no holder of any shares of our capital stock has pre-emptive or preferential rights to acquire or subscribe for any unissued shares of any class of our capital stock not otherwise disclosed herein.

**Series A Non-Convertible Preferred Stock**

*<u>Voting</u>*. The Series A Non-Convertible Preferred Stock has the following voting rights: the shares of Series A Non-Convertible Preferred Stock shall vote together with the shares of our common stock and other voting securities as a single class and shall represent 80% of all votes entitled to be voted at any annual or special meeting of our shareholders. Our Chief Executive Officer, Lisa Nelson, as the owner of all of the outstanding shares of the Series A Non-Convertible Preferred Stock, will, therefore, be able to control the management and affairs of our company, as well as matters requiring the approval by our shareholders, including the election of directors, any merger, consolidation or sale of all or substantially all of our assets, and any other significant corporate transaction. (See "Risk Factors—[Risks Related to a Purchase of the Offered Shares](#a_113)," "[Security Ownership of Certain Beneficial Owners and Management](#q1_034)" and "[Certain Relationships and Related Transactions](#q1_035)").

*<u>Dividends</u>*. The Series A Non-Convertible Preferred Stock is not entitled to receive any dividends.

*<u>Liquidation Preference</u>*. The holders of shares of the Series A Non-Convertible Preferred Stock then outstanding shall be entitled to be paid, out of the assets of our company available for distribution to our shareholders, whether from capital or earnings, an amount equal to one dollar ($1.00) per share.

*<u>Conversion</u>*. The shares of Series A Non-Convertible Preferred Stock possess no rights of conversion.

**Dividend Policy**

We have never declared or paid any dividends on our common stock. We currently intend to retain future earnings, if any, to finance the expansion of our business. As a result, we do not anticipate paying any cash dividends in the foreseeable future.

**Shareholder Meetings**

Our bylaws provide that special meetings of shareholders may be called only by our Board of Directors, the chairman of the board, or our president, or as otherwise provided under Nevada law.

**Transfer Agent**

We have retained the services of Legacy Stock Transfer, Inc., 14673 Midway Road, Suite 220, Addison, Texas 75001, as the transfer agent for our common stock. Legacy Stock Transfer's website is located at: www.legacystocktransfer.com No information found on Legacy Stock Transfer's website is part of this Offering Circular.

**BUSINESS**

**History and Overview**

Our company was incorporated in the State of Nevada on December 31, 2003, as Platinum Consulting Services, Inc. On July 3, 2006, our corporate name changed to Autobidlive Auctions International Inc.; on December 26, 2006, our corporate name changed to Auctions International Inc.; on March 26, 2013, our corporate name changed to Rangemore Film Productions Corp.; on December 19, 2013, our corporate name changed to Cre8tive Works, Inc.; on August 31, 2017, our corporate name changed to Optium Cyber Systems, Inc.

In January 2019, we acquired LBC Bioscience Inc. ("LBC"), the developer and marketer of CBD-based organic products. On June 24, 2024, we changed the name of LBC Bioscience Inc. to The CBD Vault. In conjunction with the LBC acquisition, we changed our corporate name to CBD Life Sciences Inc. The CBD Vault is a wholly owned subsidiary of CBD Life Sciences Inc.

Our principal executive office is located at 10953 N. Frank Lloyd Wright Boulevard, Suite 108, Scottsdale, Arizona 85259. Our telephone number is (480) 209-1720, and our website address is www.cbdvault.com. No information found on our company's website is part of this Offering Circular.

**Our Business**

We are engaged primarily in the Cannabidiol (CBD) market. We develop and manufacture our own CBD products, and our primary focus is on continuing to develop and market organic products, as well as acting as a retailer of products of other suppliers and manufacturers. (See "[Our Products](#a_115)" below).

**Recent Events**

*<u>New Products</u>*

Since the beginning of the fourth quarter of 2024, we have introduced several new products, including mushroom powder capsules, a mushroom supplement drink, a mushroom smoothie bar, Delta-8 gummies and, for sale in the equine market, a topical horse paste, CBD Vault Mint Chews, Mushroom Madness Pet Topper, Equine Magic Horse Shampoo, Mushroom Madness Chaga Mushroom Powder, Mushroom Madness Lion's Mane Powder, Turkey Tail Mushroom Powder, CBD Vault Cordyceps Powder and CBD Vault Reishi Mushroom Powder. All of these products will be available on each of our sales platforms.

*<u>Groupon.com<sup>®</sup></u>*. In February 2025, we announced that our premium CBD products would be available on Groupon.com, a large, consumer-centric e-commerce platform that offers "deals" on local services, goods, travel, and activities. This arrangement with Groupon.com is part of our management's strategy for increasing the number of sales platforms through which our products are available to consumers.

*<u>Doordash<sup>®</sup></u>*. In January 2023, we announced that we are in the final stage of gaining approval for consumer deliveries of our CBD products by Doordash, a delivery service that connects customers with local restaurants, convenience stores and other retailers. We believe that approval from Doordash will be achieved. Our seeking this arrangement with Doordash is part of our management's strategy of increasing the number of sales platforms through which our products are available to consumers.

*<u>Walmart Marketplace<sup>®</sup></u>*. In January 2025, we announced that our mushroom gummies, featuring a Lion's Mane mushroom blend, have officially been approved for sale and are now available on Walmart Marketplace. Walmart Marketplace is an online marketplace where third-party sellers can sell their products alongside Walmart's own products. This arrangement with Walmart Marketplace is part of our management's strategy of increasing the number of sales platforms through which our products are available to consumers.

*<u>Cannabis License</u>*. In December 2024, we announced our intent to acquire a cannabis grower license in the State of Nevada. However, since this announcement, we have abandoned these efforts.

*<u>Liquor and Wine Application</u>*. In November 2024, we announced that we had applied for a liquor and wine retail license in the State of Arizona, to facilitate our plans to offer CBD-infused wine and other similar products. While we continue to pursue such license, there is no assurance that we will be successful, in this regard.

*<u>MOU with U.S. Armed Forces</u>*. In October 2024, we announced the signing of memorandum of understanding (MOU) with a division of the United States Armed Forces relating to the potential sale of our products. However, since this announcement, we have abandoned these efforts.

*<u>RangeMe<sup>®</sup></u>*. In October 2024, we announced that our CBD products would be available through the B2B (business-to-business) platform, RangeMe, which provides access to over 200,000 retail buyers. It is our expectation that our presence on the RangeMe platform will result in a greater ability to attract potential retail customers. However, there is no assurance that such will be the case.

*<u>MOU with New York Dispensary</u>*. In August 2024, we announced the signing of a memorandum of understanding (MOU) relating to the potential acquisition of a 45% ownership interest in a New York licensed cannabis dispensary. This effort has been abandoned.

*<u>Share Buyback</u>*. In December 2024, we announced a share buyback initiative for up to 3.5 billion shares of our common stock that our Board of Directors had approved, believing that such initiative would serve to earnings per share, attract new investors and signal market confidence. However, our Board of Directors has determined that only funds derived from operations are to be used for any share buyback transactions, if any; that is, no funds derived from this offering will be used for any share buyback transactions. As of the date of this Offering Circular, no share buyback transactions have been effected by us. There is, of course, no assurance that we will ever be able to effect any share buyback transactions or, if effected, that such share buyback initiative will have any of the intended results.

**Our Products**

We recently rebranded our proprietary products to "The CBD Vault" brand name, which aligns with our Scottsdale, Arizona, retail location that does business as "The CBD Vault."

The CBD in our products is derived from industrial hemp. CBD hemp oil is extracted from the cannabis varieties that are naturally abundant in CBD and low in THC (the principal psychoactive constituent (or cannabinoid) of cannabis). Each of our providers of CBD have represented that they employ an extraction process designed to yield highly concentrated CBD oil that also contains other potentially nutritious materials, such as omega-3 fatty acids, terpenes (a class of organic compounds which when modified are used in a variety of medicines and alternative medicines such as aromatherapy), vitamins, chlorophyll and amino acids. Further, our products are parasite-free. We do not make any claims not covered by actual research. However, users rely on statements made on social media by many users of similar products. We have no association with any of the individuals posting about these types of products on social media, nor are we able to exercise any control over them and the content of their posts, statements, or other claims.

Our primary focus is on developing organic products, such as CBD hemp oil herbal drops, CBD pet treats, CBD pet drops and CBD hemp rub. Each of these products contains numerous ingredients. For example, the Pet Hemp CBD Treats is made up of Apple Cider Vinegar, Rice Bran, Cane Molasses, Rice Flour, Water, Tapioca Starch, Cheese Flavor, Lecithin, Safflower Oil, Glycerin, Passion Flower, Valerian Root, Ginger Root, Ascorbic Acid, Sorbic Acid, Calcium Propionate, CBD Hemp Oil, and Vitamin E. The Hemp CBD Pet Drops contain Rich Hemp Oil, Glucosamine, Chondroitin, MSM, Hyaluronic Acid, Aloe Vera Gel, Fructose, Natural Flavor, and Organic Glycerin.

Currently, at our retail location and on our website, we offer the following products:

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| | | |
|:---|:---|:---|
| **Products Produced In-House** | **White Label Products** | **Third-Party Products** |
| CBD Bath Bombs<br> CBD Bath Fizz<br> CBD Pain Relief Cream<br> CBD Salve<br> CBD Massage Oil<br> Full-Spectrum CBD Drops<br> Nano CBD Drops<br> Delta 8 Vape Cartridges<br> Full-Spectrum CBD Vape Cartridges<br> CBD Pet Oils<br>**Approximately 40% of Sales** | Full-Spectrum CBD Gummies<br> Delta 8 Gummies<br> Delta 10 Gummies<br> Delta 8 Prerolls<br> CBD Prerolls<br> Delta 8 Flower<br> CBD Flower<br> CBD Roll-On Gel<br> CBD Dog Treats<br> CBD Cat Treats<br>**Approximately 30% of Sales** | Jeannie in a Bottle Pain Relief Spray<br> ACV for Health ACV+CBD Gummies<br> Mitra Kratom Seltzer<br> Mitra Kratom+Kava Shots<br> Mitra Kava Seltzer<br> Raw Rolling Papers<br>**Approximately 30% of Sales** |

---

As part of our business strategy, we constantly seek opportunities to add white-label products and third-party products to our product mix.

**Retail Location**

We currently operate "The CBD Vault," a retail location located at 10953 N. Frank Lloyd Wright Boulevard, Suite 108, Scottsdale, Arizona 85259, where we sell all of our products. In addition to operating The CBD Vault retail business, the facility also contains a small laboratory in which we conduct research and development activities, in our efforts to product new and exciting products for our customers. Finally, the facility contains a production and fulfillment area, where our products that are made by our company are produced and packaged. Also in this area, we fulfill orders received through our online store. The CBD Vault leased premises contains approximately 1,360 square feet, under a five-year lease that expires in June 2026, with a three-year renewal term at the option of our company. Monthly rent is currently $2,887.00.

**Suppliers and Raw Materials**

Our suppliers have represented to us that their manufacturing facilities follow FDA required guidelines and regulations stated in FDA 21 CFR PART 111 and are NSF GMP certified and registered with the FDA accordingly.

Our white label products and our third-party products are made by independent vendors. All raw materials and white label and third-party products purchased by us are tested by their respective manufacturers to provide quality assurance and ensure no presence of THC. The vendors package and label the items being delivered to us.

*<u>In-House Products</u>*. We obtain the raw materials needed to produce our in-house products from a wide range of suppliers. None of the ingredients used in the production of our products is scarce and we have not experienced, nor do we expect to experience, difficulties in obtaining any of such ingredients. Likewise, we have not experienced, nor do we expect to experience, difficulties in obtaining supplies needed to package and ship our products. We have not entered into any standing agreements with any supplier. Rather, we order needed supplies on an ad hoc basis.

With respect to our CBD products, we do not engage in the CBD extraction process. Rather, we purchase CBD needed to produce our in-house products.

*<u>White Label Products</u>*. We obtain our white label products directly from their respective manufacturers. We have not experienced, nor do we expect to experience, difficulties in obtaining any of our white label products from their respective manufacturers. Further, we have not entered into any standing agreements with any supplier of our white label products. Rather, we order our white label products on an ad hoc basis.

*<u>Third-Party Products</u>*. We obtain our third-party products directly from the manufacturers or from their authorized distributors. We have not experienced, nor do we expect to experience, difficulties in obtaining any of our third-party products from their respective manufacturers and/or authorized distributors. Further, we have not entered into any standing agreements with any manufacturer or any authorized distributor of our third-party products. Rather, we order our third-party products on an ad hoc basis.

*<u>Quality of Raw Materials</u>*. The CBD in our products is derived from industrial hemp. CBD hemp oil is extracted from the cannabis varieties that are naturally abundant in CBD and low in THC (the principal psychoactive constituent (or cannabinoid) of cannabis). Each of our providers of CBD have represented that they employ an extraction process designed to yield highly concentrated CBD oil that also contains other potentially nutritious materials, such as omega-3 fatty acids, terpenes (a class of organic compounds which when modified are used in a variety of medicines and alternative medicines such as aromatherapy), vitamins, chlorophyl and amino acids. Further, our products are parasite-free.

**Marketing**

The target market for our products is individuals who hear or read about the CBD market principally through social media. This is a demand for the type of product that we sell that has been created and is in place. We make no claims about the products in terms of what benefits they might or might not provide. Users of the products get their information from social media or other similar sources. We do not make any claims about any product other than indicating each product's components. Our initial sales have been done at trade shows or by word of mouth with contacts of our officers as well as a few made by telephone call-in orders. Sales have been made on a cash basis. Customers use CBD products for a variety of reasons. They hear about them from friends and read about them on social media and other Internet sites.

We currently sell products at our store front, online via website, kiosks and tradeshows. We also have entered into an arrangement where some of our products are available through Amazon. We continue to try to cultivate relationships with retailers and other distribution channels to offer our products to as many customers as possible through as many distribution channels as available. Additionally, we are working to increase our sales using sales distributors and supplement. We cannot predict the likelihood of success in using these techniques.

We routinely review all of our marketing and other materials to ensure that they are clear that no claims of any medical or health benefit are made by us or anyone representing us with regard to any of our offered products.

We do not make any statements that are not supported by published scientific research, and we do not use the term "dietary supplement" which describes a broad and diverse category of products that a person can eat or drink to support good health and supplement the diet. Our determination in this regard was made in light of FDA-issued letters to some makers of CBD products warning about the use of the term "dietary supplement." None of our offered products is pre-approved by the FDA or any other regulatory agency.

**Competition**

The CBD industry is relatively new and growing. Its members include Canna Vest Corp., Cannabis Science, Vape Holding, Hemp Life Today, Cannabinols, Alternate Vape CBD, Tasty Hemp Oil and Cibaderm. Many of these companies have greater resources and market recognition than we do. There is also a possibility of a larger company trying to acquire many of the smaller companies in the industry, especially if regulatory uncertainties become less. We plan on competing using specific products that we believe meet customer demands and sell them at prices that are very reasonable in relation to other products in the marketplace. We cannot predict the likelihood of succeeding in these efforts, however.

**Regulatory Environment**

Until 2014, when 7 U.S. Code §5940 became federal law as part of the Agricultural Act of 2014 (the "2014 Farm Act"), products containing oils derived from hemp, notwithstanding a minimal or non-existing THC content, were classified as Schedule I illegal drugs. The 2014 Farm Act expired on September 30, 2018, and was thereafter replaced by the Agricultural Improvement Act of 2018 on December 20, 2018 (the "2018 Farm Act "), which amended various sections of the U.S. Code, thereby removing hemp, defined as cannabis with less than 0.3% of THC, from Schedule 1 status under the Controlled Substances Act ("CSA"), and legalizing the cultivation and sale of hemp at the federal level, subject to compliance with certain federal requirements and state law, amongst other things. THC is the psychoactive component of plants in the cannabis family generally identified as marihuana or marijuana.

The 2018 Farm Bill also shifted regulatory authority from the Drug Enforcement Administration to the Department of Agriculture. The 2018 Farm Bill did not change the United States Food and Drug Administration's ("FDA") oversight authority over CBD products. The 2018 Farm Act delegated the authority to the states to regulate and limit the production of hemp and hemp derived products within their territories. Although many states have adopted laws and regulations that allow for the production and sale of hemp and hemp derived products under certain circumstances, no assurance can be given that such state laws may not be repealed or amended such that our intended products containing hemp-derived CBD would once again be deemed illegal under the laws of one or more states now permitting such products, which in turn would render such intended products illegal in those states under federal law even if the federal law is unchanged.

Additionally, the FDA has indicated its view that certain types of products containing CBD may not be permissible under the United States Federal Food, Drug and Cosmetic Act ("FDCA"). The FDA's position is related to its approval of Epidiolex, a marijuana-derived prescription medicine to be available in the United States. The active ingredient in Epidiolex is CBD. On December 20, 2018, after the passage of the 2018 Farm Bill, FDA Commissioner Scott Gottlieb issued a statement in which he reiterated the FDA's position that, among other things, the FDA requires a cannabis product (hemp-derived or otherwise) that is marketed with a claim of therapeutic benefit, or with any other disease claim, to be approved by the FDA for its intended use before it may be introduced into interstate commerce and that the FDCA prohibits introducing into interstate commerce food products containing added CBD, and marketing products containing CBD as a dietary supplement, regardless of whether the substances are hemp-derived. Although we believe our existing and planned CBD product offerings comply with applicable federal and state laws and regulations, legal proceedings alleging violations of such laws could have a material adverse effect on our business, financial condition and results of operations.

**Seasonality**

We do not experience any seasonality in our business.

**Intellectual Property**

We may rely on a combination of patent, trademark, copyright, and trade secret laws in the United States as well as confidentiality procedures and contractual provisions to protect our proprietary technology, databases, and our brand.

We have a policy of requiring key employees and consultants to execute confidentiality agreements upon the commencement of an employment or consulting relationship with us. Our employee agreements also require relevant employees to assign to us all rights to any inventions made or conceived during their employment with us. In addition, we have a policy of requiring individuals and entities with which we discuss potential business relationships to sign non-disclosure agreements. Our agreements with clients include confidentiality and non-disclosure provisions.

**Legal Proceedings**

We may from time to time be involved in various claims and legal proceedings of a nature we believe are normal and incidental to our business. These matters may include product liability, intellectual property, employment, personal injury caused by our employees, and other general claims. We are not presently a party to any legal proceedings that, in the opinion of our management, are likely to have a material adverse effect on our business. Regardless of outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.

**Property**

Our principal executive offices are co-located with our retail location where we also distribute our products at the CBD Vault located at 10953 N. Frank Lloyd Wright Blvd., Unit 108, Scottsdale, Arizona 85259, in a leased space with a monthly rental of $2,887.

**Employees**

We have five employees (three full-time and two part-time), including our CEO, Lisa Nelson. Mrs. Nelson is required under her employment agreement to devote not less than 30 hours per week to our company's business. Brianna Nelson, the adult daughter of Lisa Nelson and our Chief Product Developer, devotes 20 hours per week to our company's business.

We believe that we have been successful in attracting experienced and capable personnel. Each of our employees has entered into an agreement with us requiring each not to compete with or disclose our proprietary information. Our employees are not represented by any labor union. We believe that relations with our employees are excellent.

**MANAGEMENT'S DISCUSSION AND ANALYSIS OF**

**FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

**Cautionary Statement**

The following discussion and analysis should be read in conjunction with our unaudited financial statements and related notes, beginning on page F-1 of this Offering Circular.

Our actual results may differ materially from those anticipated in the following discussion, as a result of a variety of risks and uncertainties, including those described under Cautionary Statement Regarding Forward-Looking Statements and Risk Factors. We assume no obligation to update any of the forward-looking statements included herein.

**Recent Events**

*<u>New Products</u>*

Since the beginning of the fourth quarter of 2024, we have introduced several new products, including mushroom powder capsules, a mushroom supplement drink, a mushroom smoothie bar, Delta-8 gummies and, for sale in the equine market, a topical horse paste, CBD Vault Mint Chews, Mushroom Madness Pet Topper, Equine Magic Horse Shampoo, Mushroom Madness Chaga Mushroom Powder, Mushroom Madness Lion's Mane Powder, Turkey Tail Mushroom Powder, CBD Vault Cordyceps Powder and CBD Vault Reishi Mushroom Powder. All of these products will be available through each of our sales platforms.

*<u>Groupon.com<sup>®</sup></u>*. In February 2025, we announced that our premium CBD products would be available on Groupon.com, a large, consumer-centric e-commerce platform that offers "deals" on local services, goods, travel, and activities. This arrangement with Groupon.com is part of our management's strategy of increasing the number of sales platforms through which our products are available to consumers.

*<u>Doordash<sup>®</sup></u>*. In January 2023, we announced that we are in the final stage of gaining approval for consumer deliveries of our CBD products by Doordash, a delivery service that connects customers with local restaurants, convenience stores and other retailers. We believe that approval from Doordash will be achieved. Our seeking this arrangement with Doordash is part of our management's strategy of increasing the number of sales platforms through which our products are available to consumers.

*<u>Walmart Marketplace<sup>®</sup></u>*. In January 2025, we announced that our mushroom gummies, featuring a Lion's Mane mushroom blend, have officially been approved for sale and are now available on Walmart Marketplace. Walmart Marketplace is an online marketplace where third-party sellers can sell their products alongside Walmart's own products. This arrangement with Walmart Marketplace is part of our management's strategy of increasing the number of sales platforms through which our products are available to consumers.

*<u>Cannabis License</u>*. In December 2024, we announced our intent to acquire a cannabis grower license in the State of Nevada. However, since this announcement, we have abandoned these efforts.

*<u>Liquor and Wine Application</u>*. In November 2024, we announced that we had applied for a liquor and wine retail license in the State of Arizona, to facilitate our plans to offer CBD-infused wine and other similar products. While we continue to pursue such license, there is no assurance that we will be successful, in this regard.

*<u>MOU with U.S. Armed Forces</u>*. In October 2024, we announced the signing of memorandum of understanding (MOU) with a division of the United States Armed Forces relating to the potential sale of our products. However, since this announcement, we have abandoned these efforts.

*<u>RangeMe<sup>®</sup></u>*. In October 2024, we announced that our CBD products would be available through the B2B (business-to-business) platform, RangeMe, which provides access to over 200,000 retail buyers. It is our expectation that our presence on the RangeMe platform will result in a greater ability to attract potential retail customers. However, there is no assurance that such will be the case.

*<u>MOU with New York Dispensary</u>*. In August 2024, we announced the signing of a memorandum of understanding (MOU) relating to the potential acquisition of a 45% ownership interest in a New York licensed cannabis dispensary. This effort has been abandoned.

*<u>Share Buyback</u>*. In December 2024, we announced a share buyback initiative for up to 3.5 billion shares of our common stock that our Board of Directors had approved, believing that such initiative would serve to earnings per share, attract new investors and signal market confidence. However, our Board of Directors has determined that only funds derived from operations are to be used for any share buyback transactions, if any; that is, no funds derived from this offering will be used for any share buyback transactions. As of the date of this Offering Circular, no share buyback transactions have been effected by us. There is, of course, no assurance that we will ever be able to effect any share buyback transactions or, if effected, that such share buyback initiative will have any of the intended results.

**Results of Operations**

*<u>Twelve Months Ended 31, 202 and 2024</u>*. During 2025, our business operations generated $98,351 (unaudited) in revenues from sales of our products with a cost of sales of $56,883 (unaudited), resulting in a gross profit of $41,518 (unaudited).

During 2025, we incurred operating expenses of $143,190 (unaudited), which were comprised entirely of general and administrative expenses, resulting in a net loss of $104,192 (unaudited).

During 2024, our business operations generated $97,302 (unaudited) in revenues from sales of our products with a cost of sales of $56,227 (unaudited), resulting in a gross profit of $41,075 (unaudited).

During 2024, we incurred operating expenses of $802,856 (unaudited), which were comprised entirely of general and administrative expenses, resulting in a net loss of $757,189 (unaudited).

*<u>Years Ended December 31, 2023 ("Fiscal 2023") and 2022 ("Fiscal 2022")</u>*. During Fiscal 2023, our business operations generated $167,147 (unaudited) in revenues from sales of our products with a cost of sales of $86,916 (unaudited), resulting in a gross profit of $80,231 (unaudited).

During Fiscal 2022, our business operations generated $160,241 (unaudited) in revenues from sales of our products with a cost of sales of $73,711 (unaudited), resulting in a gross profit of $86,530 (unaudited).

During Fiscal 2023, we incurred operating expenses of $158,805 (unaudited), which were comprised of sales and marketing expenses of $11,342 (unaudited), salaries, including officer compensation, of $55,276 (unaudited), other expenses of $61,991 (unaudited) and general and administrative expenses of $30,196 (unaudited), resulting in a net loss of $78,574 (unaudited).

During Fiscal 2022, we incurred operating expenses of $946,334 (unaudited), which were comprised of sales and marketing expenses of $351,158 (unaudited), professional fees of $13,359 (unaudited), salaries, including officer compensation, of $433,234 (unaudited), other expenses of $115,912 (unaudited) and general and administrative expenses of $32,671 (unaudited), resulting in a net loss of $859,804 (unaudited).

**Plan of Operation for the Next Twelve Months**

*<u>In General</u>*. We believe that the proceeds of this offering will satisfy its cash requirements for the next twelve months. However, to continue expanding operations and opening new facilities and retail locations, we may need to raise additional funds in the next twelve months if our growth cannot be sustained by the revenue generated from increased sales.

Over the past twelve months, we have introduced new products to the market such as CBD infused gum balls, straws and bath bombs. In addition to new products, we are increasing our marketing efforts to retail smoke shops and determining locations for the placement of vending machines containing our products.

To accommodate our desired growth in retail locations and product development, we may need to hire additional staff, employees, and other contractors as demand increases.

*<u>Cost of revenue</u>*. We anticipate that the cost of revenue will consist primarily of expenses associated with the delivery and distribution of our services and products. These include expenses related to purchasing equipment, colocation, marketing, providing products and services and salaries and benefits for employees on our operations teams.

*<u>Research and Development</u>*. We are engaged in substantial research and development expenses. These will consist primarily of salaries, and benefits for employees who are responsible for building new products as well as improving existing products. We will expense all of our research and development costs as they are incurred.

*<u>Marketing and Sales</u>*. To grow our product reach and consumer base, we anticipate that we will need to make substantial marketing and sales expenses which will consist primarily of salaries, and benefits for our employees engaged in sales, sales support, marketing, business development, operations, and customer service functions. Our marketing and sales expenses also include marketing and promotional expenditures.

*<u>General and Administrative</u>*. The majority of our general and administrative expenses will consist of salaries, benefits, and share-based compensation for certain of our executives as well as our legal, finance, human resources, corporate communications and policy employees, and other administrative employees. In addition, general and administrative expenses include professional and legal services. We expect to incur substantial expenses in marketing this offering, in marketing our new products, and increasing our retail locations and the availability of our products.

**Financial Condition, Liquidity and Capital Resources**

At December 31, 2025, our company had a cash position of $331,598 (unaudited) and had working capital of $543,853 (unaudited), compared to $6,549 (unaudited) in cash and a working capital of $228,625, at December 31, 2024.

Our company's current cash position of approximately $200,000 is adequate for our company to maintain its present level of operations through the remainder of 2026. We must obtain additional capital from third parties, including in this offering, to implement our full business plan. There is no assurance that we will be successful in obtaining such additional capital.

*December 31, 2024*. At December 31, 2024, our company had $6,349 (unaudited) in cash and had a working capital of $228,625 (unaudited), compared to cash of $2,516 (unaudited) and a working capital of 174,579, at December 31, 2023.

**Off-Balance Sheet Arrangements**

We have no off-balance sheet arrangements.

**Quantitative and Qualitative Disclosures about Market Risk**

In the ordinary course of our business, we are not exposed to market risk of the sort that may arise from changes in interest rates or foreign currency exchange rates, or that may otherwise arise from transactions in derivatives.

The preparation of financial statements in conformity with GAAP requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Some of our significant estimates and assumptions include the fair value of our common stock, stock-based compensation, the recoverability and useful lives of long-lived assets, and the valuation allowance relating to our deferred tax assets.

**Contingencies**

Certain conditions may exist as of the date the financial statements are issued, which may result in losses to us, but are of the nature such that they will only be resolved when one or more future events occur or fail to occur. Our management, in consultation with our legal counsel as appropriate, assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against us or unasserted claims that may result in such proceedings, we, in consultation with legal counsel, evaluate the perceived merits of any legal proceedings or unasserted claims, as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in our financial statements. If the assessment indicates a potentially material loss contingency is not probable, but is reasonably possible, or is probable, but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed.

**DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS**

**Directors and Executive Officers**

The following table sets forth certain information concerning our company's executive management.

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| | | | |
|:---|:---|:---|:---|
| <br> **Name** | <br> **Age** | <br> **Positions** | **Time Devoted to**<br> **Company Business** |
| Lisa Nelson | 58 | Chief Executive Officer, President, Chief Financial Officer, Secretary, Treasurer and Director | Not Less Than<br> 30 Hour Per Week**<sup>(1)</sup>** |
| Brianna Nelson | 28 | Chief Product Developer and Director | 20 Hours Per Week |

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(1) Mrs. Nelson is required to devote not less than 30 hours per week to the business of our company, pursuant to the terms of her employment agreement.

Our directors serve until a successor is elected and qualified. Our officers are elected by the Board of Directors to a term of one (1) year and serves until their successor(s) is duly elected and qualified, or until they are removed from office. Brianna Nelson is the daughter of Lisa Nelson. There exist no other family relationships among our officers and directors.

Certain information regarding the backgrounds of each of our officers and directors is set forth below.

**Lisa Nelson, CEO, President, Chief Financial Officer and Director.** Lisa Nelson is a community-minded entrepreneur with over 25 years of executive management and ownership experience. Mrs. Nelson also has operations and national sales experience in a wide range of industries including hospitality, healthcare, marketing, and retail. Since February 2019, Mrs. Nelson has been President, CEO and a Director of CBD Life Sciences Inc. (trading symbol: CBDL), which retails and wholesales CBD organic products, including CBD drops, pain relief creams, anxiety and sleep supplements, CBD brain boost coffee, weight loss coffee, gummies, a full line of CBD infused anti -aging skin care line and a full pet line.

Mrs. Nelson graduated from The Mandel Medical School with a Medical Assistant degree in 1987. She also attended Queens Borough Community College as well as Pima Community College for her nursing degree LPN in 1992. Mrs. Nelson's drive has always been focused on helping people and contributing to the community. Currently Mrs. Nelson is an active member in the American Legions Auxiliary. She has also been associated with the Scottsdale Chamber of Commerce. Mrs. Nelson manages a fund for The Christian Matthew Nelson Scholarship, and has assisted with various fundraisers, including the Illumin8 Life Foundation for Breast Cancer awareness.

**Brianna Nelson, Chief Product Developer and Director.** Brianna Nelson has, in a short time, developed a broad base of experience in the marketing and social media sector. Since 2019, she has directed social media activities for CBD Life Sciences Inc. (trading symbol: CBDL). On a day-to-day basis, Ms. Nelson plays a significant role in marketing CBDL's products through an online presence and social media outlets. She attends Scottsdale Community College and will be graduating with two associate degrees.

**Employment Agreement**

We have entered into an employment agreement (the "Nelson Agreement") with our Chief Executive Officer, Lisa Nelson, pursuant to which she serves as our Chief Executive Officer. The term of the Nelson Agreement is five years, expiring in May 2029. Pursuant to the Nelson Agreement, Mrs. Nelson is obligated to devote not less than 30 hours per week to our company's business and provides for 15 days of vacation. Under the Nelson Agreement, Mrs. Nelson is to be paid an annual salary of $120,000, until such time as our company obtains $1,000,000 in capital funding, after which Mrs. Nelson's annual salary is to increase to $150,000.

**Conflicts of Interest**

At present, we do not foresee any direct conflict between our officers and directors, or their other business interests, and their involvement in our company.

**Corporate Governance**

We do not have a separate Compensation Committee, Audit Committee or Nominating Committee. These functions are conducted by our Board of Directors acting as a whole.

During the year ended December 31, 2025, our Board of Directors did not hold a meeting, but took action by unanimous written consent in lieu of a meeting on six occasions.

**Independence of Board of Directors**

None of our directors is independent, within the meaning of definitions established by the SEC or any self-regulatory organization. We are not currently subject to any law, rule or regulation requiring that all or any portion of our Board of Directors include independent directors.

**Shareholder Communications with Our Board of Directors**

Our company welcomes comments and questions from our shareholders. Shareholders should direct all communications to our Chief Executive Officer, Lisa Nelson, at our executive offices. However, while we appreciate all comments from shareholders, we may not be able to respond individually to all communications. We attempt to address shareholder questions and concerns in our press releases and documents filed with OTC Markets, so that all shareholders have access to information about us at the same time. Mrs. Nelson collects and evaluates all shareholder communications. All communications addressed to our directors and executive officers will be reviewed by those parties, unless the communication is clearly frivolous.

**Code of Ethics**

As of the date of this Offering Circular, our Board of Directors has not adopted a code of ethics with respect to our directors, officers and employees.

**EXECUTIVE COMPENSATION**

**In General**

As of the date of this Offering Circular, there are no annuity, pension or retirement benefits proposed to be paid to officers, directors or employees of our company, pursuant to any presently existing plan provided by, or contributed to, our company.

**Compensation Summary**

The following table summarizes information concerning the compensation awarded, paid to or earned by our executive officers.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name and Principal Position** | **Year**<br> **Ended**<br> **12/31** | **Salary**<br> **($)** | **Bonus**<br> **($)** | **Stock**<br> **Awards**<br> **($)** | **Option**<br> **Awards**<br> **($)** | **Non-Equity Incentive Plan Compensation**<br> **($)** | **Non-qualified**<br> **Deferred**<br> **Compensation**<br> **Earnings**<br> **($)** | **All Other Compensation**<br> **($)** | **Total**<br> **($)** |
| Lisa Nelson<br> *Chief Executive Officer, Secretary* | 2025<br> 2024 | 120000(1)<br> 120000(1) | —<br> — | —<br> 160000 | —<br> — | —<br> — | —<br> — | —<br> — | 120000(1)<br> 280000(1) |
| Brianna Nelson<br> *Chief Product Developer* | 2025<br> 2024 | 25000(2)<br> 25000(2) | —<br> — | —<br> 360000 | —<br> — | —<br> — | —<br> — | —<br> — | —<br> 360000 |
| Matthew McGee(3)<br> *Chief Marketing Officer* | 2025<br> 2024 | 60000<br> 60000 | —<br> — | —<br> 360000 | —<br> — | —<br> — | —<br> — | —<br> — | 60000<br> 420000 |

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| | |
|:---|:---|
| (1)<br> (2)<br> (3) | This entire amount has been accrued.<br> This entire amount has been accrued.<br> Matthew McGee resigned as Chief Marketing Officer of the Company on or about April 12, 2026. |

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**Outstanding Option Awards**

The following table provides certain information regarding unexercised options to purchase common stock, stock options that have not vested and equity-incentive plan awards outstanding as of the date of this Offering Circular, for each named executive officer.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Option Awards** | **Option Awards** | **Option Awards** | **Option Awards** | **Option Awards** | **Stock Awards** | **Stock Awards** | **Stock Awards** | **Stock Awards** |
| <br>**Name** | **Number of**<br> **Securities**<br> **Underlying**<br> **Unexercised**<br> **Options (#)**<br> **Exercisable** | **Number of**<br> **Securities**<br> **Underlying**<br> **Unexercised**<br> **Options (#)**<br> **Unexercisable** | **Equity**<br> **Incentive**<br> **Plan**<br> **Awards:**<br> **Number of**<br> **Securities**<br> **Underlying**<br> **Unexercised**<br> **Unearned**<br> **Options (#)** | **Option**<br> **Exercise**<br> **Price ($)** | **Option**<br> **Expiration**<br> **Date** | **Number of**<br> **Shares or**<br> **Units of**<br> **Stock That**<br> **Have Not**<br> **Vested (#)** | **Market**<br> **Value of**<br> **Shares or**<br> **Units of**<br> **Stock That**<br> **Have Not**<br> **Vested ($)** | **Equity**<br> **Incentive**<br> **Plan Awards:**<br> **Number of**<br> **Unearned**<br> **Shares, Units**<br> **or Other**<br> **Rights That**<br> **Have Not**<br> **Vested (#)** | **Equity**<br> **Incentive**<br> **Plan Awards:**<br> **Market or**<br> **Payout Value**<br> **of Unearned**<br> **Shares, Units**<br> **or Other**<br> **Rights That**<br> **Have Not**<br> **Vested ($)** |
| Lisa Nelson |  |  |  |  | n/a |  | n/a |  |  |
| Brianna Nelson |  |  |  |  | n/a |  | n/a |  |  |
| Matthew McGee(1) |  |  |  |  | n/a |  | n/a |  |  |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) Matthew McGee resigned as Chief Marketing Officer of the Company on or about April 12, 2026.

**Employment Agreement**

We have entered into an employment agreement (the "Nelson Agreement") with our Chief Executive Officer, Lisa Nelson, pursuant to which she serves as our Chief Executive Officer. The term of the Nelson Agreement is five years, expiring in May 2029. Pursuant to the Nelson Agreement, Mrs. Nelson is obligated to devote not less than 30 hours per week to our company's business and provides for 15 days of vacation. Under the Nelson Agreement, until such time as our company obtains $1,000,000 in capital funding, Mrs. Nelson is to be paid an annual salary of $120,000, which annual salary is to increase to $150,000, once such funding has been obtained.

**Outstanding Equity Awards**

During the years ended December 31, 2025, our Board of Directors made no equity awards, and no such award is pending. In June and July 2024, the Company issued shares of common stock to our officers and directors as bonuses, as follows: (a) 200,000,000 shares were issued to Lisa Nelson (Director and Chief Executive Officer), which shares were valued at $160,000, in the aggregate; (b) 450,500,000 shares were issued to Brianna Nelson (Director and Chief Product Developer), which shares were valued at $360,400, in the aggregate; and (c) 450,000,000 shares were issued to Matthew McGee Chief Marketing Officer), which shares were valued at $360,000, in the aggregate<sup>1</sup>.

**Long-Term Incentive Plans**

We currently have no long-term incentive plans.

**Director Compensation**

Our directors receive no compensation for their serving as directors of our company.

<sup>1</sup> Matthew McGee resigned as Chief Marketing Officer of the Company on or about April 12, 2026.

**SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT**

The following table sets forth, as of the date of this Offering Circular, information regarding beneficial ownership of our common stock by the following: (a) each person, or group of affiliated persons, known by our company to be the beneficial owner of more than five percent of any class of our voting securities; (b) each of our directors; (c) each of the named executive officers; and (d) all directors and executive officers as a group. Beneficial ownership is determined in accordance with the rules of the SEC, based on voting or investment power with respect to the securities. In computing the number of shares beneficially owned by a person and the percentage ownership of that person, shares of common stock underlying convertible instruments, if any, held by that person are deemed to be outstanding if the convertible instrument is exercisable within 60 days of the date hereof.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Share Ownership <br> Before This Offering** | **Share Ownership <br> Before This Offering** | **Share Ownership <br> Before This Offering** | **Share Ownership <br> After This Offering** | **Share Ownership <br> After This Offering** | **Share Ownership <br> After This Offering** | |
| <br>**Name of Shareholder** | **Number of Shares Beneficially Owned** |  | **% Beneficially Owned<sup>(1)</sup>** | **Number of Shares Beneficially Owned** |  | **% Beneficially Owned<sup>(2)</sup>** | <br>**Effective**<br> **Voting**<br> **Power** |
| **Common Stock** | |  | | |  | |  |
| *Executive Officers and Directors* |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Lisa Nelson | 200476989 | (3) | 3.52% | 200476989 | (3) | 2.07% | ***See Note 4*** |
| &nbsp;&nbsp;&nbsp;Brianna Nelson | 450657342 |  | 7.91% | 450657342 |  | 4.65% | ***and Note 5*** |
| &nbsp;&nbsp;&nbsp;Matthew McGee(6) | 450000000 |  | 7.90% | 450000000 |  | 4.64% |  |
| Officers and directors, as a group (3 persons) | 1101134331 |  | 19.3% | 1101134331 |  | 11.36% |  |
| *5% Owners* |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Jennifer Simmons | 200500000 |  | 3.52% | 200500000 |  | 2.07% |  |
| &nbsp;&nbsp;&nbsp;Brian John Nisky | 200000000 |  | 3.51% | 200000000 |  | 2.06% |  |
| **Series A Non-Convertible Preferred Stock<sup>(4)</sup>** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Lisa Nelson | 66081530 |  | 100% | 66081530 |  | 100% |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Based on 5,696,998,727 shares outstanding, as of the date of this Offering Circular

(2) Based on 9,696,998,727 shares outstanding, assuming the sale of all of the Offered Shares.

(3) Includes 7,334 owned of record by Lisa Nelson's husband, Thomas Nelson.

(4) The Series A Non-Convertible Preferred Stock has the following voting rights: the shares of Series A Non-Convertible Preferred Stock shall vote together with the shares of our common stock and other voting securities as a single class and shall represent 80% of all votes entitled to be voted at any annual or special meeting of our shareholders.

(5) Due to the superior voting rights of the Series A
 Non-Convertible Preferred Stock, Lisa Nelson will be able to control the management and affairs of our company, as well as matters requiring
 the approval by our shareholders, including the election of directors, any merger, consolidation or sale of all or substantially all of
 our assets, and any other significant corporate transaction. See Note 4.

(6) Matthew McGee resigned as Chief Marketing Officer
 of the Company on or about April 12, 2026.

**Series A Non-Convertible Preferred Stock**

 

*<u>Voting Rights</u>*. Currently, there are 66,081,530 shares of our Series A Non-Convertible Preferred Stock issued and outstanding, all of which shares are owned by Lisa Nelson, our Chief Executive Officer. Mrs. Nelson controls all corporate matters of our company.

 

The Series A Non-Convertible Preferred Stock has the following voting rights: the shares of Series A Non-Convertible Preferred Stock shall vote together with the shares of our common stock and other voting securities as a single class and shall represent 80% of all votes entitled to be voted at any annual or special meeting of our shareholders. Mrs. Nelson will, therefore, be able to control the management and affairs of our company, as well as matters requiring the approval by our shareholders, including the election of directors, any merger, consolidation or sale of all or substantially all of our assets, and any other significant corporate transaction. (See "Risk Factors—[Risks Related to a Purchase of the Offered Shares](#a_113)" and "[Description of Securities—Series A Non-Convertible Preferred Stock](#a_116)").

**CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS**

**Shares Issued for Compensation**

In June and July 2024, we issued shares of common stock to our officers and directors as bonuses, as follows: (a) 200,000,000 shares were issued to Lisa Nelson (Director and Chief Executive Officer), which shares were valued at $160,000, in the aggregate; (b) 450,500,000 shares were issued to Brianna Nelson (Director and Chief Product Developer), which shares were valued at $360,400, in the aggregate; and (c) 450,000,000 shares were issued to Matthew McGee Chief Marketing Officer), which shares were valued at $360,000, in the aggregate<sup>1</sup>.

**Disclosure of Conflicts of Interest**

Besides the family relationship between Lisa Nelson and Brianna Nelson, there are no conflicts of interest between us and any of our officers or directors

**Stock Options**

Our stockholders have approved a 2019 Stock Option Plan, as previously adopted by our Board of Directors (the "Plan"). Under this Plan, our officers, directors, and key employees and consultants can receive incentive stock options and non-qualified stock options to purchase shares of our Common Stock. To date, no options have been issued.

With respect to incentive stock options, the Plan provides that the exercise price of each such option must be at least equal to 100% of the fair market value of the Common Stock on the date that such option is granted. The Plan requires that all such options have an expiration date not later than that date which is one day before the tenth anniversary of the date of the grant of such options (or the fifth anniversary of the date of grant in the case of 10% stockholders). However, with certain limited exceptions, in the event that the option holder ceases to be associated with us or engages in or is involved with any business similar to ours, such option holder's incentive options immediately terminate.

Pursuant to the provisions of the Plan, the aggregate fair market value, determined as of the date(s) of grant, for which incentive stock options are first exercisable by an option holder during any one calendar year cannot exceed $100,000. No such options have yet been issued.

**Bonus Plan for Executive Officers**

Our Board of Directors has established an annual Bonus Plan for Executive Officers (the "Bonus Plan"). Under the Bonus Plan, a Committee of the Board of Directors sets performance targets for key employees who are or may become executive officers. Such executives are eligible for a bonus only if they meet the performance standards set in advance by the Committee. Aggregate bonuses may not exceed ten percent of income before taxes and bonuses may not exceed $1 million per employee.

<sup>1</sup> Matthew McGee resigned as Chief Marketing Officer of the Company on or about April 12, 2026.

**Management Stock Bonus Plan**

Our Management Stock Bonus Plan provides that we shall establish a reserve of shares of Common Stock to be awarded to eligible salaried officers and directors. The Management Stock Bonus Plan Committee, composed of not less than three members, administers the Plan. The Board of Directors must review actions of the Committee. The Plan awards restricted stock to key executives. During the restricted period, the owner of the stock may not transfer the stock without first offering us the opportunity to buy back the stock at its issue price. In the first year of the restriction period, we have the right to buy back all of the awarded stock. In the second year, we have the right to buy back 75% of the awarded stock. After two years and until the end of the restriction period, a maximum of three years, we have the right to buy back 50% of the awarded stock. No shares have been issued under the plan.

**Indemnification Agreements**

We have entered into an indemnification agreement with Lisa Nelson. Any indemnification agreements we enter into and our amended and restated Bylaws will require us to indemnify our directors to the fullest extent permitted by Nevada law.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, executive officers or persons controlling us, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

**Employment Agreements**

 

We have entered into an employment agreement (the Nelson Agreement) with our Chief Executive Officer, Lisa Nelson, pursuant to which she serves as our Chief Executive Officer. The term of the Nelson Agreement is five years, expiring in May 2029. Pursuant to the Nelson Agreement, Mrs. Nelson is obligated to devote not less than 30 hours per week to our company's business and provides for 15 days of vacation. Under the Nelson Agreement, until such time as our company obtains $1,000,000 in capital funding, Mrs. Nelson is to be paid an annual salary of $120,000, which annual salary is to increase to $150,000, once such funding has been obtained.

**LEGAL MATTERS**

Certain legal matters with respect to the Offered Shares offered by this Offering Circular will be passed upon by Suares & Associates, Brooklyn, New York. Suares & Associates owns no securities of our company.

**WHERE YOU CAN FIND MORE INFORMATION**

We have filed an offering statement on Form 1-A with the SEC under the Securities Act with respect to the common stock offered by this Offering Circular. This Offering Circular, which constitutes a part of the offering statement, does not contain all of the information set forth in the offering statement or the exhibits and schedules filed therewith. For further information with respect to us and our common stock, please see the offering statement and the exhibits and schedules filed with the offering statement. Statements contained in this Offering Circular regarding the contents of any contract or any other document that is filed as an exhibit to the offering statement are not necessarily complete, and each such statement is qualified in all respects by reference to the full text of such contract or other document filed as an exhibit to the offering statement. The offering statement, including its exhibits and schedules, may be inspected without charge at the public reference room maintained by the SEC, located at 100 F Street, N.E., Room 1580, Washington, D.C. 20549, and copies of all or any part of the offering statement may be obtained from such offices upon the payment of the fees prescribed by the SEC. Please call the SEC at 1-800-SEC-0330 for further information about the public reference room. The SEC also maintains an Internet website that contains all information regarding companies that file electronically with the SEC. The address of the site is www.sec.gov.

**INDEX TO FINANCIAL STATEMENTS**

**<u>CBD Life Sciences, Inc.</u>**

---

| | |
|:---|:---|
| <u>Unaudited Financial Statements for theYears Ended December 31, 2025 and 2024</u> | <u>Unaudited Financial Statements for theYears Ended December 31, 2025 and 2024</u> |
| [Consolidated Balance Sheets as of December 31, 2025, and December 31, 2024 (unaudited)](#a_100) | F-2 |
| [Consolidated Statements of Operations (unaudited) for the Three and Nine Months Ended December 31, 2025 and 2024](#a_101) | F-3 |
| [Consolidated Statements of Changes in Stockholders' Equity (unaudited) for the Nine Months Ended December 31, 2025 and 2024](#a_102) | F-4 |
| [Consolidated Statements of Cash Flows (unaudited) for the Nine Months Ended December 31, 2025 and 2024](#a_103) | F-5 |
| [Notes to Unaudited Consolidated Financial Statements](#a_104) | F-6 |

---

---

| | |
|:---|:---|
| <u>Unaudited Financial Statements for the Years Ended December 31, 2024 and 2023</u> | <u>Unaudited Financial Statements for the Years Ended December 31, 2024 and 2023</u> |
| [Consolidated Balance Sheets as of December 31, 2024, and December 31, 2023 (unaudited)](#a_105) | F-10 |
| [Consolidated Statements of Operations (unaudited) for the Years Ended December 31, 2024 and 2023](#a_106) | F-11 |
| [Consolidated Statements of Cash Flows (unaudited) for the Years Ended December 31, 2024 and 2023](#a_107) | F-12 |
| [Consolidated Statements of Changes in Stockholders' Equity (unaudited) for the Years Ended December 31, 2024 and 2023](#a_108) | F-13 |
| [Notes to Unaudited Consolidated Financial Statements](#a_109) | F-14 |

---

**CBD LIFE SCIENCES, INC.**

**UNAUDITED CONSOLIDATED BALANCE SHEETS**

---

| | | |
|:---|:---|:---|
|  | **December 31, <br>2025** | **December 31, <br>2024** |
| **Assets** |  |  |
| Current Assets: |  |  |
| &nbsp;&nbsp;&nbsp;<br>Cash and cash equivalents | $331598 | $6549 |
| &nbsp;&nbsp;&nbsp;Inventory | 35075 | 31804 |
| &nbsp;&nbsp;&nbsp;Due from related party | 215685 | 204464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets  | 582358 | 242817 |
| Other Assets: |  |  |
| &nbsp;&nbsp;&nbsp;Furniture, net |  | 1826 |
| &nbsp;&nbsp;&nbsp;Equipment, net |  | 19636 |
| &nbsp;&nbsp;&nbsp;Leasehold Improvements, net |  | 10082 |
| &nbsp;&nbsp;&nbsp;Website, net |  | 9509 |
| &nbsp;&nbsp;&nbsp;Deposits | 4875 | 4875 |
| &nbsp;&nbsp;&nbsp;Goodwill | 100000 | 100000 |
| &nbsp;&nbsp;&nbsp;Investment | 100000 | – |
| Total Other Assets | 204875 | 145928 |
| **Total Assets** | $**787233** | $**388745** |
| **Liabilities and Stockholders' Equity (Deficit)** |  |  |
| Current Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts Payable | $33393 | $– |
| &nbsp;&nbsp;&nbsp;Due to director |  |  |
| &nbsp;&nbsp;&nbsp;Payroll tax payable | 5112 | 5112 |
| &nbsp;&nbsp;&nbsp;Sales taxes payable | – | 9020 |
| Total Current Liabilities | 38505 | 14132 |
| Total Liabilities | 38505 | 14132 |
| **Stockholders' Equity (deficit):** |  |  |
| &nbsp;&nbsp;&nbsp;Preferred Stock | 66082 | 66082 |
| &nbsp;&nbsp;&nbsp;Common Stock | 4649656 | 4366186 |
| &nbsp;&nbsp;&nbsp;Stockholders Receivable | (18000) | (18000) |
| &nbsp;&nbsp;&nbsp;Paid in Capital | 11416219 | 11279645 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (15365229) | (15319300) |
| Stockholders' Equity (deficit) | 748728 | 374613 |
| **Total Liabilities and Stockholders' Equity (deficit)** | $**787233** | $**388745** |

---

*See accompanying notes to these unaudited consolidated financial statements.*

**CBD LIFE SCIENCES, INC.**

**CONSOLIDATED STATEMENT OF OPERATIONS**

**FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024**

**(UNAUDITED)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three Months Ended** | **For the three Months Ended** | **For the Twelve Months Ended** | **For the Twelve Months Ended** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Sales** | $28236 | $11589 | $98321 | 97302 |
| Cost of Sales | (16429) | (6997) | (56833) | 56227 |
| Gross Profit | 11897 | 4592 | 38998 | 41075 |
| **Operating Expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;General and Administrative | 38610 | 346234 | 143190 | 802856 |
| **Operating Loss** | (26713) | (341642) | (104192) | (757189) |
| **Other income (expense)** |  |  |  |  |
| Gain on Sale | 58, 263 | – | 58263 | – |
| Net Profit (loss) | $31550 | $(341642) | $(48929) | $(757189) |
| Net Loss per share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic and Diluted | $– | $– | $– | $– |
| Weighted Average Shares Outstanding | 4109971942 | 641701164 | 4109971942 | 641701164 |

---

*See accompanying notes to these unaudited consolidated financial statements.*

**CBD LIFE SCIENCES, INC**

**STATEMENT OF STOCKHOLDERS EQUITY**

**(UNAUDITED)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Preferred Stock** | **Preferred Stock** | **Common Stock** | **Common Stock** | | | | |
|  | **Shares** | **Amount <br>($)** | **Shares** | **Amount <br>($)** | <br>**Stockholder <br>Receivable** | **Additional <br>Paid-in**<br>**Capital <br>($)** | **Accumulated**<br>**(Deficit) <br>($)** | **Stockholders'**<br>**(Deficit) <br>($)** |
| **Balance, December 31, 2022** | **66081530** | **66082** | **141687622** | **4070624** | – | **10819988** | **(14483536)** | **473158** |
| Stock Issued |  |  |  |  |  |  |  |  |
| Net income (loss) | – | – | – | – | – | – | (23520) | (23520) |
| **Balance, March 31, 2023** | **66081530** | **66082** | **141687622** | **4070624** | – | **10819988** | **(14507056)** | **449638** |
| Net Income (loss) | – | – | – | – | – | – | (47066) | (47066) |
| **Balance, June 30, 2023** | **66081530** | **66082** | **141687622** | **4070624** | – | **10819988** | **(14554122)** | **402572** |
| Net Income (loss) |  |  |  |  |  |  | (8715) | (8715) |
| **Balance, September 30, 2023** | **66081530** | **66082** | **141687622** | **4070624** | – | **10819988** | **(14562837)** | **393857** |
| **Balance, December 31, 2023** | **66081530** | **66082** | **141687622** | **4070624** | – | **10819988** | **(14562110)** | **394584** |
| Stock issued (canceled) |  |  |  |  |  |  |  |  |
| Net income (loss) | – | – | – | – | – | – | (52383) | (52383) |
| **Balance, March 31, 2024** | **66081530** | **66082** | **141687622** | **4070624** | – | **10819988** | **(14614493)** | **342201** |
| Stock issued for services |  |  | 500000000 | 50000 |  |  |  | 50000 |
| Stock issued |  |  | 13542 | 1 | 8 |  |  | 9 |
| Net income (loss) | – | – | – | – | – | – | (67493) | (67493 |
| **Balance, June 30, 2024** | **66081530** | **66082** | **641701164** | **4120625** | **–** | **10819996** | **(14681986)** | **324717** |
| Stock issued for services |  |  | 1001000000 | 100100 |  |  |  | 100100 |
| Stock issued - Reg A |  |  | 419826270 | 41983 |  | 190607 |  | 232590 |
| Net income (loss) | – | – | – | – | – | – | (295671) | (295671) |
| **Balance, September 30, 2024** | **66081530** | **66082** | **2062527434** | **4262708** | **–** | **11010603** | **(14977657)** | **361736** |
| Stock issued for services |  |  |  |  |  |  |  |  |
| Stock issued - Reg A |  |  | 1034777842 | 103478 | (18000) | 269042 |  | 354520 |
| Net income (loss) | – | – | – | – | – | – | (341643) | (341643) |
| **Balance, December 31, 2024** | **66081530** | **66082** | **3097305276** | **4366186** | **(18000)** | 11279645 | **(15319300)** | **–** |
| Stock issued - Reg A |  |  | 316666666- | 31667- |  | 49333 |  | 81000 |
| Net income (loss) | – | – | – | – | – | – | (37567) | (37567) |
| **Balance, March 31, 2025** | **66081530** | **66082** | **3413971942** | **4397853** | **(18000)** | 11328978 | **(15356867)** | **374613** |
| Stock issued - Reg A |  | 696000000 |  | 69601 |  | 14259 |  | 83860 |
| Net income (loss) | – | – | – | – | – | – | (18395) | (18395) |
| **Balance, June 30, 2025** | **66081530** | **66082** | **4109971942** | **4467454** | **(18000)** | 11343237 | **(15375262)** | **483511** |
| Stock Issued | 445714286 |  |  | 44571 |  | 17929 |  | 62500 |
| Net (loss) | – | – | – | – | – | – | (21517) | (21517) |
| **Balance September 31, 2026** | **66081530** | **66082** | **4555686228** | **4512025** | **(18000)** | **11361166** | **(15396779)** | **524494** |
| Stock issued |  |  | 1376312499 | 137631 | (18000) | 55053 |  | 206234 |
| Net Profit |  |  |  |  |  |  | 31550 |  |
| Balance | – | – | – | – | – | – | – | – |
| **Dec 31, 2025** | **66081530** | **66082** | **5931998727** | **4649656** | **(18000)** | **11416219** | **(15365229)** | **730728** |

---

*See accompanying notes to these unaudited consolidated financial statements.*

**CBD LIFE SCIENCES, INC.**

**UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**FOR THE TWELVE MONTHS ENDED DEC. 31, 2025 AND 2024**

---

| | | |
|:---|:---|:---|
|  | **For the Twelve Months ended December 31,** | **For the Twelve Months ended December 31,** |
|  | **2025** | **2024** |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Net loss | $(48929) | $(119876) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sale of subsidiary | (100000) | 37038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory | (3271) | (1104) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due to related party | (11221) | 28284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts Payable | 24273 | 70675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (90219) | 15017 |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash from investing activities | 47175 | – |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from notes payable |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from convertible notes |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from Common Stock Issuances | 143500 |  |
| &nbsp;&nbsp;&nbsp;Contributions to paid in capital |  |  |
| &nbsp;&nbsp;&nbsp;Advances payable - related party | – | – |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities | 143500 | – |
| Non-Cash Transactions |  |  |
| &nbsp;&nbsp;&nbsp;Net Non-Cash Transactions |  |  |
| Net increase (decrease), cash and cash equivalents | 51527 | 15017 |
| Cash and cash equivalents, beginning of year | 280071 | 2516 |
| Cash and cash equivalents, end of period | $331598 | $17533 |
| **Supplemental Disclosure of Cash Flows Information:** |  |  |
| &nbsp;&nbsp;&nbsp;Common Stock issued upon conversion of convertible NP (non-cash) |  |  |
| &nbsp;&nbsp;&nbsp;APIC from conversion of convertible NP (non-cash) |  |  |

---

*See accompanying notes to these unaudited consolidated financial statements.*

 

 

 

 

**CBD LIFE SCIENCES, INC.**

**NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS**

**FOR THE NINE MONTHS ENDED DECEMBER 31, 2025 AND 2024**

**Note 1. Nature of Operations and Continuance of Business**

The Company was in the business of providing business consulting services until 2006 when on May 15, 2006, it signed a Share Purchase agreement to acquire an undivided 100% right, title, and interest in and to all the outstanding shares of AutoBidLive Auctions Inc. AutoBidLive Auctions Inc was a private company incorporated in the Province of Alberta, Canada whose main asset was a proprietary software to enable real time, online auctions of any product or commodity for use by the wholesale market. This included cars, boats, planes, coins, stamps, industrial products, diamonds, artwork, and livestock. As a result of the closing of the Share Purchase Agreement the Company changed its name from Platinum Consulting Services to AutoBidLive Auctions International Inc. The Company subsequently changed its name again on December 26, 2006, from AutoBidLive Auctions International Inc. to Auctions International Inc. although there was no change in business.

Between 2006 and 2012 the Company continued to develop and market its online auctions software and on November 20, 2012, it entered into an agreement with Rangemore Productions to produce a live interactive auction television series utilizing the AutoBidLive software. This led to a merger with Rangemore Productions, a company that leased film studio space to independent film productions that presented themselves. Although this was a deviation from the original business plan, the management felt that it was an exciting opportunity and decided to pursue it. On December 31, 2012, the Company entered into a Merger Agreement and on June 30, 2013, the merger closed whereby the Company issued 42,942,000 preferred shares for all the assets and liabilities of Rangemore Productions Corp.

Prior to the closing of the Merger Agreement on March 26, 2013, the Company changed its corporate name from Auctions International Inc. to Rangemore Film Productions Corp. to reflect the closing of the Merger Agreement between the Company and Rangemore Productions Corp. and the resulting change in business. On December 19, 2013, the Company again changed its corporate name to Cre8tive Works, Inc. as there was confusion with another company using the name Rangemore but did not change it business plan or operations.

From March 2013 to August 2017 Cre8tive Works was in the business of financing media productions. The term "media productions" includes but is not limited to feature films, documentaries, animation, television series, movies-of-the-week, television specials, webisodes, and soundtracks. The business was not successful and in August of 2017 the management was presented with the opportunity to acquire a technology platform developed to analyze and monitor IT networks for cyber security vulnerabilities and brea ches. As a result of the new business the Company changed its name to Optium Cyber Systems, Inc. (OCSI). OCSI developed a proprietary process to analyze, identify/ and address cyber security vulnerabilities in an organization's critical IT infrastructure which is scalable to any size organization in any industry.

On January 1, 2019, the name was changed to CBD Life Sciences, Inc- through a share exchange to capitalize on the growing cannabidiol sector. LBC Bioscience, Inc. is developing and marketing a line of cannabidiol based organic products such as hemp drops, recovery pain relief products, anxiety and sleep solutions, supplements, edibles, bath products, kosher products, and a full line of pet products. In addition, LBC has developed a new and improved along with CBD biodegradable straws. All the manufactured products can be viewed and purchased on the Company website. As a result of the acquisition, the Company changed its name to CBD Life Sciences, Inc. CBD Life Sciences, Inc is a Nevada corporation and is a publicly traded company having its common shares quoted on the OTC Markets under the trading symbol "CBDL".

**Going Concern**

These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has not generated revenues sufficient to cover its expenses since inception and is unlikely to generate significant revenue or earnings in the immediate or near future. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations.

The Company will need additional working capital to continue or to be successful in any future business activities. Therefore, the continuation of the Company as a going concern is dependent upon obtaining the additional working capital necessary to accomplish its objective. Management plans to seek debt or equity financing, or a combination of both, to raise the necessary working capital.

**Subsidiary**

The Company is consolidating its wholly owned subsidiary in the financial statements. On February 8, 2019, the Company completed the acquisition of LBC Bioscience Inc. which was accounted for under ASC 805 and disclosed as a related party transaction.

On November 10, 2025, the Company sold one subsidiary, Mushroom Madness LLC to FBC Holding, Inc., a Company with common management, for 1,000,000 shares of Series B Preferred Stock The transaction was valued at $100,000.00.

**The Summary of Significant Accounting Principles**

*<u>Basis of Presentation and Principles of Consolidation</u>*

These financial statements are prepared in conformity with accounting principles accepted in the United States and are presented in US dollars, unless otherwise noted. The Company's fiscal year end is December 31.

*<u>Use of Estimates</u>*

The preparation of financial statements in conformity with US accepted accounting principles 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. The Company regularly evaluates estimates and assumptions related to the useful life and recoverability of long-lived assets, recoverability of goodwill and intangible assets, fair value of convertible debt, stock- based compensation, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

*<u>Cash and Cash Equivalents</u>*

 

The Company considers all highly liquid instruments with maturity dates of three months or less at the time of issuance to be cash equivalents.

*<u>Inventory</u>*

The Company extends unsecured credit to its customers in the ordinary course of business. Accounts receivable related to product sales is recorded at the time the goods are delivered and payment is expected. Product sales are collected within 30 to 60 days after the invoice is received. The Company periodically evaluates its receivables and establishes allowances based on historical experience and other currently available information.

*<u>Intangibles Assets</u>*

 

Intangible assets acquired are initially recognized and measured at cost and are not being amortized. Impairment tests are conducted annually or more frequently if events or changes in circumstances indicate that the asset may be impaired. The impairment test compares the carrying amount of the intangible asset with its fair value, and an impairment loss is recognized in income for the excess, if any. The amortization methods and estimated useful lives of intangible assets are reviewed annually.

*<u>Earnings Per Share</u>*

 

The Company computes net loss per share in accordance with ASC 260, Earnings per Share, which requires presentation of both basic and diluted earnings per share (EPS) on the face of the statements of operations. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all diluted potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is antidilutive.

*<u>Stock-based Compensation</u>*

 

The Company records stock-based compensation in accordance with ASC 718, Compensation - Stock Based Compensation and ASC 505-50 - Equity-Based Payments to Non-Employees. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable.

*<u>Income Taxes</u>*

 

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Accounting for Income Taxes. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

The Company files federal income tax returns in the United States. The Company may be subject to a reassessment of federal taxes by tax authorities for a period of three years from the date of the original notice of assessment in respect of any tax year. In certain circumstances, the federal statute of limitations can reach beyond the standard three-year period. The statute of limitations in the United States for income tax assessment varies from state to state. Tax authorities have not audited any of the Company's income tax returns. The Company recognizes interest and penalties related to uncertain tax positions in tax expense. During the six months ended June 30, 2025 and 2024, there were no charges for interest or penalties.

*<u>Financial Instruments and Fair Value Measures</u>*

ASC 820, Fair Value Measurements, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

---

| | |
|:---|:---|
| <u>Level 1:</u> | Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. |
| <u>Level 2:</u> | Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. |

---

**Note 2. Equity Common Stock**

Effective April 22, 2024, a 1:300 reverse split of the Company's common stock occurred. All share numbers and all per share numbers in the accompanying financial statements have been adjusted to reflect such reverse split.

In June 2024, the Company issued a total of 500,000,000 shares of common stock as compensation to officers.

During the six months ended June 30, 2025, the Company issued a total of 864,166,666 shares of common stock for a total of $120,983 in cash, pursuant to its Regulation A offering (SEC File No. 024- 12430).

**Preferred Stock**

On March 11, 2020, the Company increased the authorized Preferred Stock to 100,000,000.

On March 17, 2020, the Company increased the authorized Series A Non-Convertible Preferred Stock ("Series A Stock") to 100,000,000 shares. The total of all outstanding Series A Stock shares represents eighty percent (80%) of all votes entitled to be voted at any annual or special meetings of shareholders of the Corporation or action by written consent of shareholders. Each outstanding share of the Series A Stock represents a proportionate share of the 80% allocated to the outstanding shares of Series A Non-Convertible Preferred Stock had an authorized preferred share capital set at 100,000,000 carrying a par value of $0.001 with 66,081,530 issued and outstanding.

**Note 3. Subsequent Events**

**No events to report**

**CBD LIFE SCIENCES, INC.**

**UNAUDITED CONSOLIDATED BALANCE SHEETS**

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2024** | **December 31,**<br>**2023** |
| **Assets** |  |  |
| Current Assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $6549 | $2516 |
| &nbsp;&nbsp;&nbsp;Inventory | 31804 | 20825 |
| &nbsp;&nbsp;&nbsp;Due from related party | 204464 | 175981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 242817 | 199322 |
| Other Assets: |  |  |
| &nbsp;&nbsp;&nbsp;Furniture, net | 1826 | 4774 |
| &nbsp;&nbsp;&nbsp;Equipment, net | 19636 | 56315 |
| &nbsp;&nbsp;&nbsp;Leasehold Improvements, net | 10082 | 27705 |
| &nbsp;&nbsp;&nbsp;Website, net | 9509 | 26336 |
| &nbsp;&nbsp;&nbsp;Deposits | 4875 | 4875 |
| &nbsp;&nbsp;&nbsp;Goodwill | 100000 | 100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Other Assets | 145928 | 220005 |
| **Total Assets** | $**388745** | $**419327** |
| **Liabilities and Stockholders' Equity (Deficit)** |  |  |
| Current Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts Payable | $– | $– |
| &nbsp;&nbsp;&nbsp;Due to director |  |  |
| &nbsp;&nbsp;&nbsp;Payroll tax payable | 5112 | 5112 |
| &nbsp;&nbsp;&nbsp;Sales taxes payable | 9020 | 19631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Current Liabilities | 14132 | 24743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Liabilities | 14132 | 24743 |
| **Stockholders' Equity (deficit):** |  |  |
| &nbsp;&nbsp;&nbsp;Preferred Stock | 66082 | 66082 |
| &nbsp;&nbsp;&nbsp;Common Stock | 4366186 | 4070624 |
| &nbsp;&nbsp;&nbsp;Stockholders Receivable | (18000) |  |
| &nbsp;&nbsp;&nbsp;Paid in Capital | 11279645 | 10819988 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (15319300) | (14562110) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stockholders' Equity (deficit) | 374613 | 394584 |
| **Total Liabilities and Stockholders' Equity (deficit)** | $**388745** | $**419327** |

---

*See accompanying notes to these unaudited consolidated financial statements.*

 

 

 

 

 

**CBD LIFE SCIENCES, INC.**

**UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS**

**FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023**

---

| | | |
|:---|:---|:---|
|  | **For the Twelve Months Ended December 31,** | **For the Twelve Months Ended December 31,** |
|  | **2024** | **2023** |
| **Sales** | $108891 | 167147 |
| Cost of Goods Sold | (63224) | (86916) |
| **Gross Profit** | 45667 | 80231 |
|  | 42% | 48% |
| **Operating Expenses:** |  |  |
| &nbsp;&nbsp;&nbsp;General and Administrative expenses | 802856 | 158805 |
| Total Operating Expenses | 802856 | 158805 |
| **Operating Profit (loss)** | (757189) | (78574) |
| &nbsp;&nbsp;&nbsp;Interest Expense | – | – |
| Total Other Income (expense) |  |  |
| **Net Income (loss)** | $(757189) | $(78574) |
| Net loss per share attributable to common shareholders: | (757189) | (78574) |
| &nbsp;&nbsp;&nbsp;Basic and diluted | $– | $– |
| Weighted average shares outstanding |  |  |
| &nbsp;&nbsp;&nbsp;Basic and diluted | 3097305276 | 141687622 |

---

*See accompanying notes to these unaudited consolidated financial statements.*

 

 

 

 

 

 

**CBD LIFE SCIENCES, INC.**

**UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023**

---

| | | |
|:---|:---|:---|
|  | **For the Twelve Months ended December 31,** | **For the Twelve Months ended December 31,** |
|  | **2024** | **2023** |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Net loss | $(757189) | $(78574) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 55557 | 55557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory | (4482) | (16432) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due to related party | 28284 | 18597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Security Deposits |  | 17186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts Payable | 94753 | 5624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (583077) | 1958 |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash from investing activities | – | – |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from notes payable |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from convertible notes |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from Common Stock Issuances | 587110 |  |
| &nbsp;&nbsp;&nbsp;Contributions to paid in capital |  |  |
| &nbsp;&nbsp;&nbsp;Advances payable - related party | – | – |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities | 587110 | – |
| Non-Cash Transactions |  |  |
| &nbsp;&nbsp;&nbsp;Net Non-Cash Transactions |  |  |
| Net increase (decrease), cash and cash equivalents | 4033 | 1958 |
| Cash and cash equivalents, beginning of year | 2516 | 558 |
| Cash and cash equivalents, end of period | $6549 | $2516 |
| **Supplemental Disclosure of Cash Flows Information:** |  |  |
| &nbsp;&nbsp;&nbsp;Common Stock issued upon conversion of convertible NP (non-cash) |  |  |
| &nbsp;&nbsp;&nbsp;APIC from conversion of convertible NP (non-cash) |  |  |

---

*See accompanying notes to these unaudited consolidated financial statements.*

 

 

 

 

 

**CBD LIFE SCIENCES, INC.**

**UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY**

**FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Preferred Stock** | **Preferred Stock** | **Common Stock** | **Common Stock** | | | | |
|  | <br>Shares | Amount<br> ($) | <br>Shares | Amount<br> ($) | <br>Stockholder Receivable | <br>Additional Paid-in Capital <br>($) | <br>Accumulated (Deficit) <br>($) | <br>Stockholders' (Deficit) <br>($) |
| **Balance, December 31, 2022** | **66081530** | **66082** | **141687622** | **4070624** | **–** | **10819988** | **(14483536)** | **473158** |
| Stock Issued |  |  |  |  |  |  |  |  |
| Net income (loss) | – | – | – | – | – | – | (23520) | (23520) |
| **Balance, March 31, 2023** | **66081530** | **66082** | **141687622** | **4070624** | **–** | **10819988** | **(14507056)** | **449638** |
| Net Income (loss) | – | – | – | – | – | – | (47066) | (47066) |
| **Balance, June 30, 2023** | **66081530** | **66082** | **141687622** | **4070624** | **–** | **10819988** | **(14554122)** | **402572** |
| Net Income (loss) | – | – | – | – | – | – | (8715) | (8715) |
| **Balance, September 30, 2023** | 66081530 | 66082 | 141687622 | 4070624 | – | 10819988 | (14562837) | 393857 |
| **Balance, December 31, 2023** | 66081530 | 66082 | 141687622 | 4070624 | – | 10819988 | (14562110) | 394584 |
| Stock issued (canceled) |  |  |  |  |  |  |  |  |
| Net income (loss) | – | – | – | – | – | – | (52383) | (52383) |
| **Balance, March 31, 2024** | **66081530** | **66082** | **141687622** | **4070624** | **–** | **10819988** | **(14614493)** | **342201** |
| Stock issued for services |  |  | 500000000 | 50000 |  |  |  | 50000 |
| Stock issued |  |  | 13542 | 1 |  | 8 |  | 9 |
| Net income (loss) | – | – | – | – | – | – | (67493) | (67493) |
| <br>**Balance, June 30, 2024** | 66081530 | 66082 | 641701164 | 4120625 | – | 10819996 | (14681986) | 324717 |
| Stock issued for services |  |  | 1001000000 | 100100 |  |  |  | 100100 |
| Stock issued - Reg A |  |  | 419826270 | 41983 |  | 190607 |  | 232590 |
| Net income (loss) | – | – | – | – | – | – | (295671) | (295671) |
| **Balance, September 30, 2024** | **66081530** | **66082** | **2062527434** | **4262708** | **–** | **11010603** | **(14977657)** | **361736** |
| Stock issued for services |  |  |  |  |  |  |  |  |
| Stock issued - Reg A |  |  | 1022277842 | 103478 | (18000) | 269042 |  | 354520 |
| Net income (loss) | – | – | – | – | – | – | (341643) | (341643) |
| **Balance, December 31, 2024** | 66081530 | 66082 | 3097305276 | 4366186 | (18000) | 11279645 | (15319300) | 374613 |

---

*See accompanying notes to these unaudited consolidated financial statements.*

 

 

 

 

**CBD LIFE SCIENCES, INC.**

**NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS**

**FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023**

**Note 1. Nature of Operations and Continuance of Business**

The Company was in the business of providing business consulting services until 2006 when on May 15, 2006, it signed a Share Purchase agreement to acquire an undivided 100% right, title, and interest in and to all the outstanding shares of AutoBidLive Auctions Inc. AutoBidLive Auctions Inc was a private company incorporated in the Province of Alberta, Canada whose main asset was a proprietary software to enable real time, online auctions of any product or commodity for use by the wholesale market. This included cars, boats, planes, coins, stamps, industrial products, diamonds, artwork, and livestock. As a result of the closing of the Share Purchase Agreement the Company changed its name from Platinum Consulting Services to AutoBidLive Auctions International Inc. The Company subsequently changed its name again on December 26, 2006, from AutoBidLive Auctions International Inc. to Auctions International Inc. although there was no change in business.

Between 2006 and 2012 the Company continued to develop and market its online auctions software and on November 20, 2012, it entered into an agreement with Rangemore Productions to produce a live interactive auction television series utilizing the AutoBidLive software. This led to a merger with Rangemore Productions, a company that leased film studio space to independent film productions that presented themselves. Although this was a deviation from the original business plan, the management felt that it was an exciting opportunity and decided to pursue it. On December 31, 2012, the Company entered into a Merger Agreement and on June 30, 2013, the merger closed whereby the Company issued 42,942,000 preferred shares for all the assets and liabilities of Rangemore Productions Corp.

Prior to the closing of the Merger Agreement on March 26, 2013, the Company changed its corporate name from Auctions International Inc. to Rangemore Film Productions Corp. to reflect the closing of the Merger Agreement between the Company and Rangemore Productions Corp. and the resulting change in business. On December 19, 2013, the Company again changed its corporate name to Cre8tive Works, Inc. as there was confusion with another company using the name Rangemore but did not change it business plan or operations.

From March 2013 to August 2017 Cre8tive Works was in the business of financing media productions. The term "media productions" includes but is not limited to feature films, documentaries, animation, television series, movies-of-the-week, television specials, webisodes, and soundtracks. The business was not successful and in August of 2017 the management was presented with the opportunity to acquire a technology platform developed to analyze and monitor IT networks for cyber security vulnerabilities and breaches. As a result of the new business the Company changed its name to Optium Cyber Systems, Inc. (OCSI). OCSI developed a proprietary process to analyze, identify/ and address cyber security vulnerabilities in an organization's critical IT infrastructure which is scalable to any size organization in any industry.

On January 1, 2019, the name was changed to CBD Life Sciences, Inc- through a share exchange to capitalize on the growing cannabidiol sector. LBC Bioscience, Inc. is developing and marketing a line of cannabidiol based organic products such as hemp drops, recovery pain relief products, anxiety and sleep solutions, supplements, edibles, bath products, kosher products, and a full line of pet products. In addition, LBC has developed a new and improved along with CBD biodegradable straws. All the manufactured products can be viewed and purchased on the Company website. As a result of the acquisition, the Company changed its name to CBD Life Sciences, Inc. CBD Life Sciences, Inc is a Nevada corporation and is a publicly traded company having its common shares quoted on the OTC Markets under the trading symbol "CBDL".

**Going Concern**

These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has not generated revenues sufficient to cover its expenses since inception and is unlikely to generate significant revenue or earnings in the immediate or near future. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations.

The Company will need additional working capital to continue or to be successful in any future business activities. Therefore, the continuation of the Company as a going concern is dependent upon obtaining the additional working capital necessary to accomplish its objective. Management plans to seek debt or equity financing, or a combination of both, to raise the necessary working capital.

**Subsidiary**

The Company is consolidating its wholly owned subsidiary in the financial statements. On February 8, 2019, the Company completed the acquisition of LBC Bioscience Inc. which was accounted for under ASC 805 and disclosed as a related party transaction.

**Summary of Significant Accounting Principles**

*<u>Basis of Presentation and Principles of Consolidation</u>*

These financial statements are prepared in conformity with accounting principles accepted in the United States and are presented in US dollars, unless otherwise noted. The Company's fiscal year end is December 31.

*<u>Use of Estimates</u>*

The preparation of financial statements in conformity with US accepted accounting principles 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. The Company regularly evaluates estimates and assumptions related to the useful life and recoverability of long-lived assets, recoverability of goodwill and intangible assets, fair value of convertible debt, stock- based compensation, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

*<u>Cash and Cash Equivalents</u>*

 

The Company considers all highly liquid instruments with maturity dates of three months or less at the time of issuance to be cash equivalents.

*<u>Inventory</u>*

The Company extends unsecured credit to its customers in the ordinary course of business. Accounts receivable related to product sales is recorded at the time the goods are delivered and payment is expected. Product sales are collected within 30 to 60 days after the invoice is received. The Company periodically evaluates its receivables and establishes allowances based on historical experience and other currently available information.

*<u>Intangibles Assets</u>*

 

Intangible assets acquired are initially recognized and measured at cost and are not being amortized. Impairment tests are conducted annually or more frequently if events or changes in circumstances indicate that the asset may be impaired. The impairment test compares the carrying amount of the intangible asset with its fair value, and an impairment loss is recognized in income for the excess, if any. The amortization methods and estimated useful lives of intangible assets are reviewed annually.

*<u>Earnings Per Share</u>*

 

The Company computes net loss per share in accordance with ASC 260, Earnings per Share, which requires presentation of both basic and diluted earnings per share (EPS) on the face of the statements of operations. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all diluted potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is antidilutive.

*<u>Stock-based Compensation</u>*

 

The Company records stock-based compensation in accordance with ASC 718, Compensation - Stock Based Compensation and ASC 505-50 - Equity-Based Payments to Non-Employees. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable.

*<u>Income Taxes</u>*

 

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Accounting for Income Taxes. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

The Company files federal income tax returns in the United States. The Company may be subject to a reassessment of federal taxes by tax authorities for a period of three years from the date of the original notice of assessment in respect of any tax year. In certain circumstances, the federal statute of limitations can reach beyond the standard three-year period. The statute of limitations in the United States for income tax assessment varies from state to state. Tax authorities have not audited any of the Company's income tax returns. The Company recognizes interest and penalties related to uncertain tax positions in tax expense. During the years ended December 31, 2024 and 2023, there were no charges for interest or penalties.

*<u>Financial Instruments and Fair Value Measures</u>*

ASC 820, Fair Value Measurements, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

---

| | |
|:---|:---|
| <u>Level 1:</u> | Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. |
| <u>Level 2:</u> | Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. |

---

**Note 2. Equity Common Stock**

Effective April 22, 2024, a 1:300 reverse split of the Company's common stock occurred. All share numbers and all per share numbers in the accompanying financial statements have been adjusted to reflect such reverse split.

In June 2024, the Company issued a total of 500,000,000 shares of common stock as compensation to officers.

**Preferred Stock**

On March 11, 2020, the Company increased the authorized Preferred Stock to 100,000,000.

On March 17, 2020, the Company increased the authorized Series A Non-Convertible Preferred Stock ("Series A Stock") to 100,000,000 shares. The total of all outstanding Series A Stock shares represents eighty percent (80%) of all votes entitled to be voted at any annual or special meetings of shareholders of the Corporation or action by written consent of shareholders. Each outstanding share of the Series A Stock represents a proportionate share of the 80% allocated to the outstanding shares of Series A Non-Convertible Preferred Stock had an authorized preferred share capital set at 100,000,000 carrying a par value of $0.001 with 66,081,530 issued and outstanding.

**Note 3. Subsequent Events Shares Issued for Cash**

Since December 31, 2024, the Company has issued a total of 379,166,666 shares of common stock for a total of $53,083 in cash, pursuant to its Regulation A offering (SEC File No. 024- 12430).

**PART III – EXHIBITS**

**Index to Exhibits**

---

| | | |
|:---|:---|:---|
| **Exhibit No.:** | **Description of Exhibit** | **Incorporated by Reference to:** |
| <br> **2. Charter and Bylaws** | <br> **2. Charter and Bylaws** | |
| 2.1 | [Articles of Incorporation from Inception through 01-15-2019](cbdlife_ex0201.htm) |  |
| 2.2 | [Certificate of Amendment filed 10-15-2019](cbdlife_ex0202.htm) |  |
| 2.3 | [Certificate of Amendment filed 02-18-2020](cbdlife_ex0203.htm) |  |
| 2.4 | [Certificate of Amendment filed 03-11-2020](cbdlife_ex0204.htm) |  |
| 2.5 | [Amendment to Certificate of Designation filed 03-17-2020](cbdlife_ex0205.htm) |  |
| 2.6 | [Certificate of Amendment filed 09-16-2020](cbdlife_ex0206.htm) |  |
| 2.7 | [Certificate of Amendment filed 01-14-2021](cbdlife_ex0207.htm) |  |
| 2.8 | [Certificate of Amendment filed 06-17-2021](cbdlife_ex0208.htm) |  |
| 2.9 | [Certificate of Change Pursuant to NRS 78.209 filed 12-30-2022](cbdlife_ex0209.htm) |  |
| 2.10 | [Certificate of Correction filed 01-24-2023](cbdlife_ex0210.htm) |  |
| 2.11 | [Certificate of Amendment filed 06-06-2023](cbdlife_ex0211.htm) |  |
| 2.11.1 | [Certificate of Amendment filed 12-17-2024](cbdlife_ex021101.htm) |  |
| 2.11.2 | [Certificate of Amendment filed 03-03-2025](cbdlife_ex021102.htm) |  |
| 2.11.3 | [Certificate of Amendment filed 05-13-2026](cbdlife_ex021103.htm) |  |
| 2.12 | [Bylaws](cbdlife_ex0212.htm) |  |
| <br> **4. Subscription Agreement** | <br> **4. Subscription Agreement** |  |
| 4.1 | [Subscription Agreement](cbdlife_ex0401.htm) |  |
| <br> **6. Material Agreements** | <br> **6. Material Agreements** |  |
| 6.1 | [Incentive Stock Option Plan](cbdlife_ex0601.htm) |  |
| 6.2 | [Management Stock Bonus Plan](cbdlife_ex0602.htm) |  |
| 6.3 | [Performance Bonus Plan](cbdlife_ex0603.htm) |  |
| 6.4 | [Employment Agreement of Lisa Nelson](cbdlife_ex0604.htm) |  |
| 6.5 | [Indemnification Agreement of Lisa Nelson](cbdlife_ex0605.htm) |  |
| 6.6 | [Lease Agreement of The CBD Vault](cbdlife_ex0606.htm) |  |
| <br> **11. Consents** | <br> **11. Consents** |  |
| 11.1 | Consent of Suares & Associates (see [Exhibit 12.1](cbdlife_ex1201.htm)) |  |
| <br> **12. Opinion re: Legality** | <br> **12. Opinion re: Legality** |  |
| 12.1 | [Opinion of Suares Associates](cbdlife_ex1201.htm) |  |

---

**SIGNATURES**

Pursuant to the requirements of Regulation A, the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form 1-A and has duly caused this offering statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Scottsdale, State of Arizona, on May 15, 2026.

**CBD LIFE SCIENCES, INC.**<br>By: <u>/s/ Lisa Nelson</u> <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lisa Nelson<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer<br>

This Offering Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: <u>/s/ Lisa Nelson</u> <br> Lisa Nelson<br> President, Chief Executive Officer, Acting<br> Chief Financial Officer [Principal<br> Accounting Officer], Secretary and Director | May 15, 2026 |
| By: <u>/s/ Brianna Nelson</u> <br> Brianna Nelson<br> Chief Product Developer and Director | May 15, 2026 |

---

## Ex1A-2A

**Exhibit 2.1**

![](cbd_1a-0201g1.jpg)

Articles of Incorporation

of

PLATINUM CONSULTING SERVICES, INC.

The undersigned natural person, who is at least eighteen (18) years of age, for the purpose of forming a Private Corporation, under and subject to the provisions of NRS 78.010, et seq, hereby adopts the following Articles of Incorporation:

ARTICLE ONE

NAME. The name of the Corporation is PLATINUM CONSULTING SERVICES, INC.

ARTICLE TWO

REGISTERED OFFICE AND RESIDENT AGENT. The registered office of the Corporation shall be located at 1005 Terminal Way, Suite 110: Reno, Nevada 89502. The initial Resident Agent at such address is CORPORATE OFFICE SERVICES, INC. The Board of Directors may establish, from time to time, other places of business within and without the State of Nevada for the conduct of its business.

ARTICLE THREE

DURATION. The Corporation shall have perpetual existence.

ARTICLE FOUR

PURPOSES. The purpose, object and nature of the business for which this Corporation is organized are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To engage in any lawful activity,

ARTICLE FIVE

SHARES OF STOCK. The total nurnber of authorized shares of the Corporation shall be 1,500,000 (ONE MILLION FIVE HUNDRED THOUSAND) voting common shares with .001 (ONE TENTH OF ONE CENT) par value. Authority shall be vested in the board of directors to change the class, the number of each class of stock and the voting powers, designations, preferences, limitations. restrictions, and relative rights of each class or stock.

ARTICLE SIX

DIRECTOR. The business and affairs of the Corporation shall be conducted by a Board of Directors. The number of directors constituting the initial Board of Directors is one (I), and the name and address of the person who is to serve as sole Director until the first Annual Meeting or until his successor(s) arc elected and qualified is

NAME ADDRESS <br> Daniela Peterson 1005 Terminal Way, Suite 110 <br> Reno, Nevada 89502

The Directors may, at any time prior to the first meeting of the Board of Directors, elect or appoint additional Directors, not exceeding the number set forth in the by-laws, to serve until his successors are elected and qualified. Thereafter, vacancies on the Board of Directors, however arising, may be filled from time to time by the remaining Directors.

The successors of the first Board of Directors shall be elected at the Annual Meeting of the Shareholders to be held on the date and at the time provided in the by-laws. The Directors shall hold office for one year or until they are removed or their successors have been duly qualified, as provided in the bylaws.

The Board of Directors shall elect or appoint a President, a Secretary, a Treasurer, a Resident Agent and such other Officers or Agents for the administration of the business of the Corporation as it shall from time to time determine. Such persons need not be shareholders of the Corporation or members of the Board of Directors.

ARTICLE SEVEN

LIMITED LIABILITY OF OFFICERS AND DIRECTORS. No officer or Directors of the Corporation shall be liable to the Corporation or its shareholders for the damages for the breach of a fiduciary duty as a Director or Officer other than: (a) acts or omissions which involve intentional misconduct, fraud or a known violation of the law: or (b) the payment of dividends in violation of NRS 78.300.

The Corporation may purchase or maintain insurance or make other financial arrangements on behalf of any person who is or was a Director, Officer, 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 for any liability asserted against him and liability and expenses incurred by him in his capacity as Director, Officer, Employee or Agent, or arising of his status as such, whether or not the Corporation has the authority to indemnify him against such liability or expense.

The Corporation shall indemnify all of its Officers and Directors past, present, and future against any and all expenses incurred by them, and each of them, including, but not limited to, legal fees, judgment and penalties which may be incurred, rendered or levied in any legal action or administrative proceeding brought against them for any act or omission alleged to have been committed while acting within the scope of their duties as Officers or Directors of the Corporation. The expenses of Officers and Directors incurred in defending any legal action or administrative proceeding must be paid by the Corporation as they are incurred and in advance of the final disposition of the action or proceeding upon receipt of an undertaking by or on behalf of the Officer or Director to repay the amount if it is ultimately determined by a court of competent jurisdiction that he/she is not entitled to be indemnified by the Corporation. Such right of indemnification shall not be exclusive of any other rights of indemnification which the Officers and Directors may have or hereafter acquire. Without limitation of the foregoing, the Board of Directors may adopt by-laws from time to time to provide the fullest indemnification permitted by the Laws of the State of Nevada.

ARTICLE EIGHT

ASSESSMENTS. To the extent permitted by law, the private property of each and every Stockholder, Officer, and Director of the Corporation, real or personal, tangible or intangible, now owned or hereafter acquired by any of them, is and shall forever be exempt from all debts and obligations of the Corporation. Stocks are not assessable.

ARTICLE NINE

NO PREEMPTIVE RIGHTS. Except as may otherwise be provided by the Board of Directors of the Corporation, no holder of any shares of the stock of the Corporation shall have any preemptive right to purchase, subscribe for or otherwise acquire any shares of the stock of the Corporation of any class now or hereafter authorized, or any securities exchangeable for or convertible into any such shares, or other instruments evidencing rights or options to subscribe for purchase or otherwise acquire such shares.

ARTICLE TEN

NO CUMULATIVE VOTING, Election of Directors of the Corporation shall be by majority vote of the shareholders. There shall be no cumulative voting.

ARTICLE ELEVEN

INCORPORATOR. The name and address of the Incorporator executing these Articles of Incorporation is as follows:

NAME ADDRESS <br> Daniela Peterson 1005 Terminal Way, Suite 110 <br> Reno, Nevada 89502

ARTICLE TWELVE

AMENDMENT. These Articles of Incorporation may be amended by the affirmative vote of a majority of the Shareholders entitled to vote on each such amendment

IN WITNESS WHEREOF, the undersigned Incorporator has executed these Articles of Incorporation on this 29th day of December, 2003.

<u>/s/ Daniela Peterson</u> 

Daniela Peterson

Corporate Office Services, Inc.

1005 Terminal Way, Suite 110

Reno, Nevada 89502

![](cbd_1a-0201g2.jpg)

![](cbd_1a-0201g3.jpg)

![](cbd_1a-0201g4.jpg)

![](cbd_1a-0201g5.jpg)

![](cbd_1a-0201g6.jpg)

<u>EXHIBIT A</u>

SHARES OF STOCK. The total number of authorized shares of the Corporation shall be 2,000,000,000 (TWO BILLION) voting common shares with $0.001 (ONE TENTH OF ONE CENT) par value and 100,000,000 (ONE HUNDRED MILLION) non-voting preferred shares with $0.001 (ONE TENTH OF ONE CENT) par value convertible into common shares on a ratio of 25 (TWENTY FIVE) common shares to every 1 (ONE) preferred share. Authority shall be vested in the board of directors to change the change the class, the number of each class of stock and the voting powers, designations, preferences, limitations, restrictions, and relative rights of each class. As of the effective date of the filing of this Certificate of Amendment with the Nevada Secretary of State (the "Effective Date"), every 250 (TWO HUNDRED FIFTY) (the "Reverse Split Factor") outstanding shares of Common Stock shall without further action by this Corporation or the holder thereof be combined and automatically become 1 (ONE) share of Common Stock (the "Reverse Stock Split"). No fractional shares will be issued In connection with the Reverse Stock Split. A shareholder of record who otherwise would be entitled to receive a fractional share will be entitled to receive on whole share. As of the Effective Date, the total number of authorized shares of the Corporation shall be reduced to 250,000,000 (TWO HUNDRED FIFTY MILLION) voting common shares with $0.001 (ONE TENTH OF ONE CENT) par value and 100,000,000 (ONE HUNDRED MILLION) non-voting preferred shares with $0.001 (ONE TENTH OF ONE CENT) par value convertible into common shares on a ratio of 1 (ONE) common shares to every 10 (TEN) preferred share.

![](cbd_1a-0201g8.jpg)

![](cbd_1a-0201g9.jpg)

**<u>Exhibit A</u>**

**CERTIFICATE OF THE DESIGNATIONS, POWERS,<br> PREFERENCES AND RIGHTS OF THE<br> SERIES A NON-CONVERTIBLE PREFERRED STOCK<br> ($0.001 PAR VALUE PER SHARE)**

**OF**

**<u>CRE8TIVE WORKS,</u>**

**A NEVADA CORPORATION**

Pursuant to Section 79.1955 of Chapter 78 of the. Nevada Revised Statutes, CRE8TIVE WORKS, INC., corporation organized and existing under the State of Nevada (the "Corporation"), in accordance with the provisions thereof, does hereby submit the following:

WHEREAS, the Articles of Incorporation of the Corporation (the "Articles of Incorporation") authorizes the issuance of up to 100 Million (100,000,000) shares of preferred stock, par value $0.001 per share, of the Corporation ("Preferred Stock") in one or more series, and expressly authorizes the Board of Directors of the Corporation (the "Board"), subject to limitations prescribed by law, to provide, out of the unissued shares of Preferred Stock, for series of Preferred Stock, and, with respect to each such series, to establish and fix the number of shares to be included in any series of Preferred Stock and the designation, rights, preferences, powers, restrictions and limitations of the shares of such series; and

WHEREAS, it is the desire of the Board to establish and fix the number of shares to be included in a new series of Preferred Stock and the designation, rights, preferences and limitations of the shares of such new series.

NOW, THEREFORE, BE IT RESOLVED, that the Board does hereby provide for the issue of a series of Preferred Stock and does hereby in this Certificate of Designation (the "Certificate of Designation") establish and fix and herein state and express the designation, rights, preferences, powers, restrictions and limitations of such series of Preferred Stock as follows:

1. Designation and Amount

This series of Preferred Stock shall be designated "Series A Non-Convertible Preferred Stock" and the authorized number of shares constituting such series shall be <u>Sixteen Million Eighty One Thousand Five Hundred Thirty</u> (16,081,530). The par value of the Series A Non-Convertible Preferred Stock shall be $0.001 per share. Shares of the Series A Non-Convertible Preferred Stock shall have a stated value of $0.001 per share (the "Stated Value").

2. <u>Dividends.</u>

The holders of shares of Series A Non-Convertible Preferred Stock shall not be entitled to receive any dividends.

3. <u>Preferences on Liquidation.</u>

Subject to the provisions of Section 6(b) below, in the event of any voluntary or involuntary dissolution, or winding up of the Corporation, the holders of shares of the Series A Non-Convertible Preferred Stock then outstanding shall be entitled to be paid, out of the assets of the Corporation available for distribution to its stockholders, whether from capital, scruples or earnings, an amount equal to one dollar ($1.00) per share.

4. <u>Voting Rights.</u>

Except as otherwise required by law or by the Articles of Incorporation and except as set forth in Section 6(b) below, the outstanding shares of Series A Non-Convertible Preferred Stock shall vote together with the shares of Common Stock and other voting securities of the Corporation as a single class and regardless of the number of shares of Series A Non-Convertible Preferred Stock outstanding and as long as at least one of such shares of Series A Non-Convertible Preferred Stock is outstanding, shall represent eighty percent (80%) of all votes entitled to be voted at any annual or special meeting of shareholders of the Corporation or action by written consent of shareholders. Each outstanding share of the Series A Non-Convertible Preferred Stock shall represent its proportionate share of the 80% which is allocated to the outstanding shares of Series A Non-Convertible Preferred Stock.

5. <u>Negative Covenants.</u>

The Corporation will not, by amendment of the Articles of Incorporation or through any reorganization, transfer of assets, consolidation, <sup>-</sup>merger, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Corporation, but will at all times in good faith assist in the carrying out of all the provisions of this Articles of Incorporation and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the holders of the Series A Non-Convertible Preferred Stock against impairment.

6. <u>Ranking: Changes Affecting Series.</u>

(a) The Series A Non-Convertible
 Preferred Stock shall, with respect to distribution rights on liquidation, winding up
 and dissolution, (i) rank senior to any of the shares of Common Stock of the Corporation,
 and any other class or series of stock of the Corporation which by its terms shall rank
 junior to the Series A Non-Convertible Preferred Stock, and (ii) rank junior to any other
 series or class of preferred stock of the Corporation and any other class or series of
 stock of the Corporation which by its term shall rank senior to the Series A Non-Convertible
 Preferred Stock.

(b) So long as any shares of Series A
 Non-Convertible Preferred Stock are outstanding, the Corporation shall not (i)
 alter or change any of the powers, preferences, privileges or
 rights of the Series A Non-Convertible
 Preferred Stock, or (ii) amend the provisions of this Section 6; in each case, without
 first obtaining the approval by vote or written consent, in the manner provided by law, of the holders of at least a
 majority of the
 outstanding shares of Series A Non-Convertible Preferred
 Stock, as to changes affecting the Series A Non-Convertible
 Preferred Stock.

7. <u>No Redemption.</u>

The shares of the Series A Non-Convertible Preferred Stock are not redeemable.

8. <u>Protection Provisions.</u>

So long as any shares of Series A Non-Convertible Preferred Stock are outstanding, the Corporation shall not, without first obtaining the approval (by vote or written consent, as provided by the Nevada Business Corporation Act) of the Holders of at least a majority of the then outstanding shares of Series A Non-Convertible Preferred Stock;

(a) alter or change the rights, preferences or privileges of the Series A Non-Convertible Preferred Stock;

(b) alter or change the rights, preferences or privileges of any capital
 stock of the Corporation so as to affect adversely the Series A Non-Convertible Preferred Stock;

&nbsp;&nbsp;&nbsp;&nbsp;(c) create any new class
 or series of capital stock having a preference over the Series A Non-Convertible Preferred
 Stock as to distribution of assets upon liquidation, dissolution or winding up of
 the Corporation (as previously defined, "Senior Securities");

&nbsp;&nbsp;&nbsp;&nbsp;(d) create
 any new class or series of capital stock ranking *pari passu* with the Series A
 Non-Convertible Preferred Stock an to distribution of assets upon liquidation, dissolution
 or winding up of the Corporation (as previously defined, "Pari Passu Securities");

(e) increase the authorized number of shares of
Series A Non-Convertible Preferred Stock;

(f) issue any shares of
Series A Non-Convertible Preferred Stock other than pursuant to the Securities Purchase Agreement with the
original parties thereto;

(g) issue any additional shares of Senior Securities;
 or

(h) redeem, or declare or pay any cash dividend or distribution
 on, any Junior Securities.

If holders of at least a majority of the then outstanding shares of Series A Non-Convertible Preferred Stock agree to allow the Corporation to alter or change the rights, preferences or privileges of the shares of Series A Non-Convertible Preferred Stock pursuant to subsection (a) above, then the Corporation shall deliver notice of such approved change to the Holders of the Series A Non-Convertible Preferred Stock that did not agree to such alteration or change (the "Dissenting Holders").

9. <u>Merger, Consolidation. Etc.</u>

&nbsp;&nbsp;&nbsp;&nbsp;(a) if at any time or from time to time there shall be (i) a merger, or consolidation of the Corporation with or into another corporation,
(ii) the sale of all or substantially all of the Corporation's capital stock or assets to any other person, (iii) any other form
of business combination or reorganization in which the Corporation shall not be the continuing or surviving entity of such business
combination or reorganization, or (iv) any transaction or series of transactions by the Corporation in which in excess of 50 percent
of the Corporation's voting power is transferred (each, a "Reorganization") then as a part of such Reorganization, provision
shell be made so that the holders of the Series A Non-Convertible Preferred Stock shall thereafter be entitled to receive the
same kind and amount of stock or other securities or property (including cash) of the Corporation, or of the successor corporation
resulting from such Reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The provisions of this Section 9 are in addition to and not in lieu, of the provisions of Section 2 hereof.

10. <u>No Impairment.</u>

The Corporation will not, by amendment of its Articles of incorporation or through any reorganization, recapitalization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Corporation, but will at all times in good faith assist in the carrying out of all the provisions of this Certificate of Designation and in the taking of all such action as may be necessary or appropriate in order to protect the conversion rights of the holders of the Series A Non-Convertible Preferred Stock against impairment.

11. <u>Lost or Stolen Certificates.</u>

Upon receipt by the Corporation of (i) evidence of the loss, theft, destruction or mutilation of any Preferred Stock Certificate(s) and (ii) (y) in the case of loss, theft or destruction, of indemnity reasonably satisfactory to the Corporation, or (z) in the case of mutilation, upon surrender and cancellation of the Preferred Stock Certificate(s), the Corporation shall execute and deliver new Preferred Stock Certificate(s) of like tenor and date.

IN WITNESS WHEREOF, this Certificate of Designation is executed on behalf of the Corporation by its Authorized Officer this 9<sup>th</sup> day of February 2015.

Creative Works, Inc.

By: <u>/s/ Andrew McLaughlin</u> 

Name: Andrew McLaughlin

Title: Chief Executive Officer, President,

Secretary, Treasurer and Director

**WRITTEN CONSENT<br> IN LIEU OF A MEETING<br> OF<br> THE SOLE DIRECTOR<br> OF<br> CRESTIVE WORKS, INC.**

___________________

**DESIGNATION OF SERIES A NON-CONVERTIBLE PREFERRED STOCK**

___________________

The undersigned, being the sole member of the Board of Directors (the "Board") of Cre8tive Works, Inc., a Nevada corporation (the "Corporation"), in accordance with the provisions of Chapter 78 of the Nevada Revised Statues (the "NRS"), hereby adopt the following resolutions with the same force and effect as if presented to and adopted at a meeting of the Board of the Corporation, duly called and held on February 9, 2015:

**WHEREAS,** the Articles of Incorporation of the Corporation (the "Articles of Incorporation") authorizes the issuance of up to 100 Million (100,000,000) shares of preferred stock, par value $0.001 per share, of the Corporation ("Preferred Stock") in one or more series, and expressly authorizes the Board of Directors of the Corporation (the "Board"), subject to limitations prescribed by law, to provide, out of the unissued shares of Preferred Stock, for series of Preferred Stock, and, with respect to each such series, to establish and fix the number of shares to be included in any series of Preferred Stock and the designation, rights, preferences, powers, restrictions and limitations of the shares of such series; and

**WHEREAS,** it is the desire of the Board to establish and fix the number of shares to be included in a new series of Preferred Stock and the designation, rights, preferences and limitations of the shares of such new series,

**NOW, THEREFORE, BE IT RESOLVED,** that the Board does hereby provide for the issue of a series of Preferred Stock and does hereby establish and fix and herein state and express the designation, rights, preferences, powers, restrictions and limitations of such series of Preferred Stock as follows:

1. <u>Designation and Amount</u>

This series of Preferred Stock shall be designated "Series A Non-Convertible Preferred Stock" and the authorized number of shares constituting such series shall be Sixteen Million Eighty One Thousand Five Hundred Thirty (16,081,530). The par value of the Series A Non-Convertible Preferred Stock shall be $0.001 per share. Shares of this Series A Non-Convertible Preferred Stock shall have a stated value of $0.001 per share (the "Stated Value").

2. <u>Dividends</u>

The holders of shares of Series A Non-Convertible Preferred Stock shall not be entitled to receive any dividends.

3. <u>Preferences on Liquidation</u>

Subject to the provisions of Section 6(a) below, in the event of any voluntary or involuntary liquidation, dissolution, or winding up of the Corporation, the holders of shares of the Series A Non -Convertible Preferred Stock then outstanding shall be entitled to be paid, out of the assets of the Corporation available for distribution to its stockholders, whether from capital, surplus or earnings, an amount equal to one dollar ($1.00) per share.

4. <u>Voting Rights</u>

Except as otherwise required by law or by the Articles of Incorporation and except as set forth in Section 6(b) below, the outstanding shares of Series A Non-Convertible Preferred Stock shall vote together with the shares of Common Stock and other voting securities of the Corporation as a single class and, regardless of the number of shares of Series A Non-Convertible Preferred Stock outstanding and as long as at least one of such shares of Series A Non-Convertible Preferred Stock is outstanding, shall represent eight percent (80%) of all votes entitled to be voted at any annual or special meeting of shareholders of the Corporation or action by written consent of shareholders. Each outstanding share of the Series A Non-Convertible Preferred Stock shall represent its proportionate share of the 80% which is allocated to the outstanding shares of Series A Non-Convertible Preferred Stock.

5. <u>Negative Covenants</u>

The Corporation will not, by amendment of the Articles of Incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms lo be observed or performed hereunder by the Corporation, but will at all times in good faith assist in the carrying out of all the provisions of this Articles of Incorporation and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the holders of the Series A Non-Convertible. Preferred Stock against impairment.

6. <u>Ranking, Changes Affecting Series</u>

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Series A Non-Convertible Preferred Stock shall, with respect to distribution rights on liquidation,
winding up and dissolution, (i) rank senior to any of the shares of Common Stock of the Corporation. and any other class or series
of stock of the Corporation which by its terms shall rank junior to the Series A Non-Convertible Preferred Stock, and (ii) rank
junior to any other series or class of preferred stock of the Corporation and any other class or series of stock of the Corporation
which by its term shall rank senior to the Series A Non-Convertible Preferred Stock.

&nbsp;&nbsp;&nbsp;&nbsp;(b) So long as any shares of Series A Non-Convertible Preferred Stock are outstanding, the Corporation
shall not, (i) alter or change any of the powers, preferences, privileges or rights of the Series A Non-Convertible Preferred Stock,
or (ii) amend the provisions of this Section 6; in each case, without first obtaining the approval by vote or written consent.
in the manner provided by law, of the holders of at least a majority of the outstanding shares of Series A Non-Convertible Preferred
Stock, as to changes affecting the Series A Non-Convertible Preferred Stock.

7. <u>No Redemption</u>

The shares of the Series A Non-Convertible Preferred Stock are not redeemable.

8. <u>Protection Provisions</u>

So long as any shares of Series A Non-Convertible Preferred Stock are outstanding, the Corporation shall not, without first obtaining the approval (by vote or written consent, as provided by the Nevada Business Corporation Act) of the holders of at least a majority of the then outstanding shares of Series A Non-Convertible Preferred Stock:

(a) alter or change the rights, preferences or privileges of the Series A Non-Convertible Preferred Stock;

(b) alter or change the rights, preferences or privileges
 of any capital stock of the Corporation so as to affect adversely the Series A Non-Convertible Preferred Stock;

**BE IT FURTHER RESOLVED** that:

1. The Directors of the Corporation are hereby authorized and directed for and on behalf of the Corporation
to do all such acts and things and to prepare, execute and deliver all documentation determined necessary or desirable to give
effect to the foregoing resolutions.

2. These resolutions may be executed by fax or email and said copies will be deemed to be originals
for all purposes including filing in the Corporation's minute book.

IN WITNESS WHEREOF, the undersigned has executed this written consent as of the date hereof.

DATED AT Miami Beach, Florida, this the 9th day of February, 2015.

*DIRECTOR*

<u>/s/ Andrew McLaughlin</u> 

Andrew McLaughlin

![](cbd_1a-0201g10.jpg)

![](cbd_1a-0201g11.jpg)

![](cbd_1a-0201g12.jpg)

![](cbd_1a-0201g13.jpg)

![](cbd_1a-0201g14.jpg)

**EXHIBIT A**

The total number of authorized shares of the Corporation shall be 7,000,000,000 (seven billion) voting common shares with $0.001 (one tenth of one cent) par value and 16,081,530 (sixteen million eighty one thousand five hundred thirty) "blank check" preferred shares with $0.001 (one tenth of one cent) par value. As of the May 1, 2018 (the "Effective Date"), every 500 (five hundred) outstanding shares of Common Stock shall, without further action by the Corporation or the holder thereof, be combined and automatically become 1 (one) share of Common Stock (the "Reverse Stock Split"). No fractional shares will be issued in connection with the Reverse Stock Split. A shareholder of record who otherwise would be entitled to receive a fractional share will be entitled to receive one whole share. As of the Effective Date, the total number of authorized shares of the Corporation shall be reduced to 500,000,000 (five hundred million) voting common shares with $0.001 (one tenth of one cent) par value and 16,081,530 (sixteen million eighty one thousand five hundred thirty) "blank check" preferred shares with $0.001 (one tenth of one cent) par value. Authority shall be vested in the Board of Directors of the Corporation to change the class, the number, the voting power, designations, preference, limitation, restrictions and relative rights of each class of stock.

![](cbd_1a-0201g15.jpg)

![](cbd_1a-0201g16.jpg)

**EXHIBIT A**

The total number of authorized shares of the Corporation shall by 2,000,000,000 (two billion) voting common shares with $0.001 (one tenth of one cent) par value and 16,081,530 (sixteen million eighty-one thousand five hundred thirty) preferred shares with $0.001 (one tenth of one cent) par value. As of the January 18, 2019 (the "Effective Date"), every 100 (one hundred) outstanding shares of Common Stock shall, without further action by the Corporation or the holder thereof be combined and automatically become 1 (one) share of Common Stock (the "Reverse Stock Split"). No fractional shares will be issued in connection with the Reverse Stock Split. A shareholder of record who otherwise would be entitled to receive a fractional share will be entitled to receive one whole share. As of the Effective Date, the total number of authorized shares of the Corporation shall be reduced to 500,000,000 (five hundred million) voting common shares with $0.001 (one tenth of one cent) par value and 16,081,530 (sixteen million eighty-one thousand five hundred thirty) Series A non-convertible preferred shares with $0.001 (one tenth of one cent) par value. Authority shall be vested in the Board of Directors of the Corporation to change the class, the number, the voting power, designations, preference, limitation, restrictions and relative rights of each class of stock.

![](cbd_1a-0201g18.jpg)

**EXHIBIT A**

The total number of authorized shares of the Corporation shall by 2,000,000,000 (two billion) voting common shares with $0.001 (one tenth of one cent) par value and 16,081,530 (sixteen million eighty-one thousand five hundred thirty) preferred shares with $0.001 (one tenth of one cent) par value. As of the January 18, 2019 (the "Effective Date"), every 100 (one hundred) outstanding shares of Common Stock shall, without further action by the Corporation or the holder thereof be combined and automatically become 1 (one) share of Common Stock (the "Reverse Stock Split"). No fractional shares will be issued in connection with the Reverse Stock Split. A shareholder of record who otherwise would be entitled to receive a fractional share will be entitled to receive one whole share. As of the Effective Date, the total number of authorized shares of the Corporation shall be reduced to 500,000,000 (five hundred million) voting common shares with $0.001 (one tenth of one cent) par value and 16,081,530 (sixteen million eighty-one thousand five hundred thirty) Series A non-convertible preferred shares with $0.001 (one tenth of one cent) par value. Authority shall be vested in the Board of Directors of the Corporation to change the class, the number, the voting power, designations, preference, limitation, restrictions and relative rights of each class of stock.

## Ex1A-2A

**Exhibit 2.2**

![](image_041.jpg)

Filed in the Office of Business Number I n I((. C33445 - 2003 K" \ ,, . u... . • ,A_, _ J , F. e , ! : m ..: I ' . g .: . u = m , . e N r =b= - ------- 1 {) 20190224379 Secretary of State Filed On S t a t e Of Nevada 10115/2019 11:10:00 AM Number of Pa g es 4 e BARBARA K. CEGAVSKE Secretary of State 202 North Canson Street Carson City, Nevada 89701 - 4201 (775) 684 - 5708 Website: www.nvsos.gov Certificate of Amendment (PURSUANT TO NRS 78.385 AND 78 . 390) USE BLACK INK ONLY • DO NOT HIGHLIGHT ABOVE SPACE IS FOR OFFICE USE ONLY Certificate of Amendment to Articles of Incorporation For Nevada Profit Corporations (Pursuant to NRS 78.385 and 78.390 - After Issuance of Stock) 1. Name of corporation: CBD LIFE SCIENCES INC. 2. The articles have been amended as follows: (provide article numbers. if available) ARTICLE FIVE SHARES OF STOCK The total number of authorized shares of the Corporation shall be 1 ,000,000,000 voting common shares with $0.001 par value and 16,081,530 preferred shares with $0.001 par value. The Board of Directors of the Corporation shal I have exclusive authority to prescribe the classes, series and the number of each of the securities. 3 . The vote by which the stockholders holding shares in the corporation entitling them to exercise at least a majority of the voting power, or such greater proportion of the voting power as may be required in the case of a vote by classes or series, or as may be required by the provisions of the articles of incorporation• have voted in favor of the amendment is: 4. Effective date and time of filing: (optional) Date: 80 Time: (must not be later than 90 days after the certificate is filed) 5. Signature: (required) Signature of Officer • 1 t any proposed amendment would alter or change any preference or any relative or other right given to any c l ass or series of outstanding shares . then the amendment must 1 be approved by the vote , in addition to t he affirmative vote otherwise requ i red, of the holders of shares representing a majority of the voting power of each class or series affected by the amendment regardless to limitations or restrictions on the voting power thereof . Thi s form must be accompanied by appropriate fees . IMPORTANT: Failure to i nc lud e any of the above information and submit with the proper fees may cause this filing to be rejected . Nevada Secreta,y of State Amend Pront - After Revised: 1 - 5 - 15

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CONSENT TO ACTION BY THE STOCKHOLDERS OF CBD LIFE SCIENCES INC. The undersigned, representing a majority of the stockholders (the "Stockholders") of the CBD Life Sciences Inc . (the 'Corporation'), a Nevada corporation, pursuant to the authority contained in the General Corporate Law of the State of Nevada, do hereby consent in writing to the following actions of the Corporation, to be effective the I 0 th day of October, 2019 . INCREASE IN AUTHORIZED CAPlTAL WHEREAS: A. Pursuant to Nevada General Corporation Law (the "Act"), any action required or permitted to be taken at a meeting of the Stockholders may be taken without a meeting if a written consent to such action is signed by Stockholders holding at least a majority of the voting power . B. Pursuant to the Act, after issuing stock, a corporation 's articles may be amended by Stockholders representing at least a majority of the voting power. C. The Stockholders wish to approve an amendment to the Articles Incorporation of the Corporation to increase its authorized capital from 500 , 000 , 000 shares of common stock to 1 , 000 , 000 , 000 shares of common stock, with a par value of $0 . 00 I (the "Amendment") . The Corporation's preferred stock will remain unchanged . BE IT HEREBY RESOLVED THAT: 1. the Amendment be and are hereby approved, ratified and confirmed; 2. any one director or officer of the Corporation be and they are hereby authorized to prepare and file the Certificate of Amendment with the Delaware Secretary of State , with such effective date as chosen by the directors of the Corporation ; 3. any one director or officer of the Corporation be and is hereby authorized to execute, under the common seal of the Corporation or otherwise, any and all documents, agreements and instruments and to do all things as may be necessary to effect the foregoing resolutions on behalf of the Corporation , including preparing and filing the Certificate of Amendment ; and this resolution may be signed by the Stockholders in as many counterparts as may be necessary, each of which so signed shall be deemed to be an original (and each signed copy sent by electronic facsimile transmission shall be deemed to be an original), and such counterparts together shall constitute one and the same instrument and notwithstanding the date of execution shall be deemed to bear the date as set forth above . 4. £; . Lisa Nelson Percentage of Vote 24.87% . George Rutherford Percentage of Vote 55.13%

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WRITTEN CONSENT IN LIEU OF A MEETING OF THE BOARD OF DIRECTORS OF CBD LIFE SCIENCES INC. Increase Authorized Common Stock The undersigned, being all the directors of the Board of Directors (the "Board") of CBD Life Sciences Inc . , a Nevada corporation (the "Corporation"), in accordance with the provision of Chapter 78 of the Nevada Revised Statues (the "NRS"), hereby adopt the following resolution with the same force and effect as if presented to and adopted at a meeting of the Board of the Corporation, duly called and held on October I 0 , 2019 : INCREASE AUTHORIZED COMMON STOCK WHEREAS, the Board of the Corporation deem it to be in the best interest of the Corporation to : A. increase the authorized common stock from 500,000,000 to 1,000,000,000 (the "Amendment"}; and B. file the certificate of amendment (the "Certificate of Amendment") to give effect to the Amendment. BE IT RESOLVED THAT : l. the Board be authorized to seek the approval of the Stockholders by Consent Resolutions to the Amendment in substantially the form previously circulated, and that the Amendment be and is hereby approved, ratified and confirmed, subject to the approval of the Secretary of State for the State of Nevada ; 2. upon Consent of at least a majority of the Stockholders, any one officer or director of the Corporation be and is hereby authorized to take such steps as may be necessary or advisable to give effect to the Amendment, including the filing of Certificate of Amendment with the Secretary of State under the General Corporation Law of the State of Nevada ; 3. the effective date of the Amendment shall be set to facilitate the filings with the Secretary of State for the State of Nevada and the Financial Industry Regulatory Authority ("FINRA"); 4. any one director or officer of the Corporation be and is hereby authorized and directed, for and in the name of the Corporation, to do all such acts and things as the director or officer may determine to be necessary or advisable in connection with the foregoing resolutions, including the execution of any document (whether under the seal of the Corporation or otherwise) or the doing of any such other act or thing being conclusive evidence of such determination; and 5 . these resolutions may be signed by the directors in as many counterparts as may be necessary, each of which so signed shall be deemed to be an original (and each signed copy sent by electronic facsimile transmission shall be deemed to be an original), and such counterparts together shall constitute one and the same instrument and notwithstanding the date of execution shall be deemed to bear the date as set forth above.

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IN WITNESS WHEREOF, the following have executed this Written Consent as of the date first written above. DIRECTOR: L - Lisa Ne l son DIRECTOR: tvltLCLcdtAJh - - Mercedes Stunn

## Ex1A-2A

**Exhibit 2.3**

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Filed in the Office of Secretary of State State Of Nevada Business Number C33445 - 2003 Filing Number 20200489414 Filed On 2/18/2020 9:59:00 AM Number of Pages 3

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BARBARA K. CEGAVSKE Secretary of State 202 North Carson Street Carson City, Nevada 89701 - 4201 (775) 684 - 6708 Website: www.nvsos.gov 4 T 5 C c 6 (Profit Corporation: Certificate of Amendment cPuRsuANTTo NRs 18 . 380 & 78.385/78.390) Certificate to Accompany Restated Articles or Amended and Restated Articles cPuRsuANTTo NRs 78.403) Officer's Statement PuRsuANT To NRs ao.030 . Effective Date and ime: (Optional) Date: [0211 _ 8/2020 - --- - - j Time: [ 0:0!_)A - . · --- (must not be later than 90 days after the certificate Is filed) . Information Being hanged: (Domestic orporations only) Changes to takes the following effect: D The entity name has been amended. D The registered agent has been changed. (attach Certificate of Acceptance from new registered agent) D The purpose of the entity has been amended. The authorized shares have been amended. D The directors, managers or general partners have been amended. D IRS tax language has been added. D Articles have been added. D Articles have been deleted. 0 Other. The articles hav! been _ amended as follows: (provl ! article numbers, if avails) Article 5 Change in Common Stock. Please see attached (attach additional page(s) if necessary) . Signature: Required) xf'4 c · Signature of Officer or Authorized Signer x __ J Signature of Officer or Authorized Signer Title \*If any proposed amendment would alter or change any preference or any relative or other right given to any class or series of outstanding shares, then the amendment must be approved by the vote, Inaddition to the affirmative vote otherwise required, of the holders of shares representing a majority of the voting power of each class or series affected by the amendment regardless to limitations or restrictions on the voting power the _ reof. Please Include any required or optional Information In space below: (attach eddltlonal page(s) if necessary) This form must be accompanied by appropriate fees. Pege2of2 Revised: 1/1/2019

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5 Continued: As of February 18, 2020, this article 5 is amended as follows: the number of shares of common stock authorizaed to be issued by the corporateion will be five (5,000,000,000) billion at par value of $0.001 per share.

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NEVADA STATE BUSINESS LICENSE CBD LIFE SCIENCES INC. Nevada Business Identification # NV20031567775 Expiration Date: 12/31/2020 In accordance with Title 7 of Nevada Revised Statutes, pursuant to proper application duly filed and payment of appropriate prescribed fees, the above named is hereby granted a Nevada State Business License for business activities conducted within the State of Nevada . Valid until the expiration date listed unless suspended, revoked or cancelled in accordance with the provisions in Nevada Revised Statutes. License is not transferable and is not in lieu of any local business license, permit or registration. License must be cancelled on or before its expiration date if business activity ceases. Failure to do so will result in late fees or penalties which, by law, cannot be waived . Certificate Number: B20200219591923 You may verify this certificate online at http://www.nvsos.gov IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Great Seal of State, at my office on 02/19/2020. BARBARA K. CEGAVSKE Secretary of State

## Ex1A-2A

**Exhibit 2.4**

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Filed in the Office of Secretary of State State Of Nevada Business Number C33445 - 2003 Filing Number 20200536401 Filed On 3/11/2020 8:51:00 AM Number of Pages 3

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BARBARA K. CEGAVSKE Secretary of State 202 North Carson Street Carson City, Nevada 89701 - 4201 (775) 684 - 5708 Website: www.nvsos.gov 4 T 5 C c 6 (Profit Corporation: Certificate of Amendment (PuRsuANTTo NRs 78.380& 78 . 385/78.390) Certificate to Accompany Restated Articles or Amended and Restated Articles (PuRsuANTro NRs 1s . 4o3) Officer's Statement cPuRsuANT To NRs 80 . 030 . Effective Date and ime: (Optional) Date: Time: (must not be later than 90 days after the certificate Is filed) . Information Being hanged: (Domestic orporations only) Changes to takes the following effect: D The entity name has been amended. I The registered agent has been changed. (attach Certificate of Acceptance from new registered agent) 1 1 The purpose of the entity has been amended . [RI The authorized shares have been amended. D The directors, managers or general partners have been amended. D IRS tax language has been added. D Articles have been added. ; Articles have been deleted. ' Other. The articles have been amended as follows: (provide article numbers, if available) I Article 5 Change in Preferred Stock. Please see attached - .. (attach additional page(s) if necessary) . Signature: Required) X Signature of Officer or Authorized Signer x D il - o F _ i - c . : : _ , _ : · · 1 t · " . . ' - : b - · r - - tLc... . - f 9..., , 1 Signature of Officer or Authorized Signer Title \*If any proposed amendment would alter or change any preference or any relative or other right given to any class or series of outstanding shares, then the amendment must be approved by the vote , in addition to the affirmative vote otherwise required, of the holders of shares representing a majority of the voting power of each class or series affected by the amendment regardless to limitations or restrictions on the voting power thereof. Please include any required or optional information in space below: (attach additional page(s) if necessary) This form must be accompanied by appropriate fees . Page 2 of2 Revised : 1/1/2019

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5 Continued : Article 5 is to be amended as follow : the number of shares of preferred stock authorized to be issued by the corporation will be one hundred million (100 , 000 , 000) shares . The par value of the preferred shares is to remain $0 . 001 .

## Ex1A-2A

**Exhibit 2.5**

![](image_052.jpg)

Filed in the Office of Secretary of State State Of Nevada Business Number C33445 - 2003 Filing Number 20200557463 Filed On 3/17/2020 12:04:00 PM Number of Pages 1

## Ex1A-2A

**Exhibit 2.6**

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Filed in the Office of Secretary of State State Of Nevada Business Number C33445 - 2003 Filing Number 20200916325 Filed On 9/16/2020 2:55:00 PM Number of Pages 2

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BARBARA K. CEGAVSKE Secretary of State . 202 North Carson Street Carson City , Nevada 89701 - 4201 (775) 684 - 5708 Website: www.nvsos.gov 4 T 5 C c 6 (.. Profit Corporation: Certificate of Amendment l . 1(? : . (p <>.vi . t1 cl . nu ber , . if aila,ble) ... The par value for all shares has been lowered to 0.0001 (attach additional page(s) if necessary) (is 1 - L :; l - ft: P - - .= - · : · _ ] · S ign a t u r e j J Qff i c e r or Authorized Signer f ut -- ;:; - " : ;',(c nt l e . . . . - . - , x IX . . . - a · OifLcf..sJ L _J Signatu r e of Officer or Authorized Signer Title \*If any proposed amendment would alter or change any preference or any relative or other right given to any class or series of outstanding shares, then the amendment must be approved by the vote, in addition t the affirma i tve vote otherw i se required, of the holders of shares representing a majority of the voting power of each c l ass or series affected by the amendment regardless to limitations or restrictions on the voting power there.of . . Signature : Required) · Please ' include any required or optional information in space below: (ach l:ldditiona . lpc19e(s)if nec:essary) This fonn must be accompan i ed by appropriate fees .

## Ex1A-2A

**Exhibit 2.7**

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Aubry Bjarnason 601 E CHARLESTON BLVD SUITE 100 LAS VEGAS, NV 89104, USA Work Order #: W2021011400932 January 14, 2021 Receipt Version: 1 Special Handling Instructions: Submitter ID: 6083 Charges Amount Price Qty Filing Status Filing Date/Time Filing Number Fee Description Description $11000.00 $11000.00 1 Approved 1/14/2021 9:29:00 AM 20211166059 Fees Amendment After Issuance of Stock $125.00 $125.00 1 Approved 1/14/2021 9:29:00 AM 20211166059 Expedite Fee Amendment After Issuance of Stock $11125.00 Total Payments Amount Payment Status Description Type $2875.00 Success 6083 Submitter Account $8250.00 Success 6106514165096626103289 Credit Card $11125.00 Total Credit Balance: $0.00 BARBARA K. CEGAVSKE Secretary of State KIMBERLEY PERONDI Deputy Secretary for Commercial Recordings STATE OF NEVADA OFFICE OF THE SECRETARY OF STATE Commercial Recordings & Notary Division 202 N. Carson Street Carson City, NV 89701 Telephone (775) 684 - 5708 Fax (775) 684 - 7138 North Las Vegas City Hall 2250 Las Vegas Blvd North, Suite 400 North Las Vegas, NV 89030 Telephone (702) 486 - 2880 Fax (702) 486 - 2888 Aubry Bjarnason 601 E CHARLESTON BLVD SUITE 100 LAS VEGAS, NV 89104, USA

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Business Entity - Filing Acknowledgement 01/14/2021 Work Order Item Number: Filing Number: Filing Type: Filing Date/Time: Filing Page(s): W2021011400932 - 1061375 20211166059 Amendment After Issuance of Stock 1/14/2021 9:29:00 AM 4 Indexed Entity Information: Entity ID: C33445 - 2003 Entity Status: Active Entity Name: CBD LIFE SCIENCES INC. Expiration Date: None Commercial Registered Agent THE CORPORATE PLACE, INC. 601 E CHARLESTON BLVD STE 100, LAS VEGAS, NV 89104, USA BARBARA K. CEGAVSKE Secretary of State KIMBERLEY PERONDI Deputy Secretary for Commercial Recordings STATE OF NEVADA OFFICE OF THE SECRETARY OF STATE Commercial Recordings Division 202 N. Carson Street Carson City, NV 89701 Telephone (775) 684 - 5708 Fax (775) 684 - 7138 North Las Vegas City Hall 2250 Las Vegas Blvd North, Suite 400 North Las Vegas, NV 89030 Telephone (702) 486 - 2880 Fax (702) 486 - 2888 The attached document(s) were filed with the Nevada Secretary of State, Commercial Recording Division. The filing date and time have been affixed to each document, indicating the date and time of filing. A filing number is also affixed and can be used to reference this document in the future. Respectfully, BARBARA K. CEGAVSKE Secretary of State Page 1 of 1 Commercial Recording Division 202 N. Carson Street

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Business Number C33445 - 2003 Filed in the Office of Secretary of State State Of Nevada Filing Number 20211166059 Filed On 1/14/2021 9:29:00 AM Number of Pages 4

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BARBARA K. CEGAVSKE Secretary of State 202 North Carson Street Carson City, Nevada 89701 - 4201 (775) 684 - 5708 Website: www.nvsos.gov 4 T 5 C c 6 (Profit Corporation: Certificate of Amendment - [ v u - = ,(t_ - Signature of Officer or Authoriz igner Title •If any proposed amendment would alter or change any preference or any relative or other right given to any class or series of outstanding shares, then the amendment must be approved by the vote, In addition t the affirmative vote otherwise required, of the holders of shares representing a majority of the voting power of each class or series affected by the amendment regardless to limitations or restrictions on the voting power thereof . . Information Being hanged: (Domestic orporations only) . Signature: Required) Please Include any required or optional Information In space below: (attach additional page(s) if necessary) This form must be accompanied by appropriate fees. Page 2 of 2 Revised : 1/1/2019

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MINUTES OF THE SPECIAL BOARD OF DIRECTORS MEETING OF CBD LIFE SCIENCES CORP The Board of Directors of CBD Life Sciences, Corp, met in a special called meeting in the corporate offices on January 13 , 2021 at 10 : 00 A.M. The meeting was called in accordance with the By - Laws of the corporation. Attached hereto is a waiver of time of a meeting call signed by each D i rector. The meeting was called to order by Lisa A. Nelson as Chairman of the meeting . Attendance at the meeting was Lisa Nelson and Brianna Nelson comprising the entire Board of Directors of the corporation . Brianna Nelson acted as Secretary for the meeting. Ms. Lisa Nelson stated that the called meeting is to change the number of Common Stock that the corporation may issue. At the present time only 5,000,000,000 shares may be issued under the articles of incorporation, as amended. The proposal before the board of directors is to increase the total number of shares authorized to 25,000,000,000 shares of common stock. After discussion, a motion was made and duly seconded to adopt the following resolution of the board of directors. Approval was unanimous RESOLVED : The President of the corporation is hereby authorized to amend the articles of incorporat i on filed with the state of Nevada to increase the number of authorized shares of common stock that can be issued under the Amended articles of incorporation from 5,000,000,000 to 25,000,000,000. Par value remains unchanged . There being no further business the meeting was adjourned. Lisa A. Nelson Brianna Nelson

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WAIVER OF NOTICE OF SPECIAL MEETING OF THE BOARD OF DIRECTORS OF CBD LIFE SCIENCES, CORP We the undersigned being all the directors of the corporations hereby agree and consent that the Special Meeting of the Board of Directors be held on the date and the time and place stated below and hereby waive all notice of such meeting and of any adjournment thereof. Place of meeting: Corporate Offices Date of meeting: January 13, 2021 Time of meeting: Dated: January 13, 2021 10:00 A.M. Lisa A. Nelson Brianna Nelson

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NEVADA STATE BUSINESS LICENSE CBD LIFE SCIENCES INC. Nevada Business Identification # NV20031567775 Expiration Date: 12/31/2021 In accordance with Title 7 of Nevada Revised Statutes, pursuant to proper application duly filed and payment of appropriate prescribed fees, the above named is hereby granted a Nevada State Business License for business activities conducted within the State of Nevada . Valid until the expiration date listed unless suspended, revoked or cancelled in accordance with the provisions in Nevada Revised Statutes. License is not transferable and is not in lieu of any local business license, permit or registration. License must be cancelled on or before its expiration date if business activity ceases. Failure to do so will result in late fees or penalties which, by law, cannot be waived . Certificate Number: B202101141353105 You may verify this certificate online at http://www.nvsos.gov IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Great Seal of State, at my office on 01/14/2021. BARBARA K. CEGAVSKE Secretary of State

## Ex1A-2A

**Exhibit 2.8**

Filed in the Office of Secretary of State State Of Nevada Business Number C33445 - 2003 Filing Number 20211544574 Filed On 6/17/2021 2:09:00 PM Number of Pages 2

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BARBAR A K . CEGAVSKE Secretary of State 20 2 Nort h Carso n Street Carso n City , Nevad a 89701 - 4201 (TT') $84 - 708 Webslte: www.n \ /'5Qs.gov Certificate of Amendment (PuRsvf%ro NRS 11t o 1s ; /7e.3eo) Certificate to Accompany Re•tated Artiele$ o.r Amende.d 1. 1 nd Restate d Article s . < P : v R $ u A N n o • N R r e . . M > 3) Officer's . Statement RuRsuANr To NRS so . 030 4 . Effectiv e Dat e and Time: (Optional} 5. Informatio n Being Changed: (Domestic corporations only) Change s t o takes th e followin g e ffec t : O Th e entit y nam e ha s bee n amended. Ƒ The registered agent has been changed. (attach Certificate of Acceptance from new registered agent) Ƒ The purpose . of the entity . has been amend . ed. [B l Th e authorize d shares hav e bee n amended. D The directors , menaQers or general partners have been amended. D IRS tax language has been added. O Artlele s hav e bee11added. O Article s hsv e b n deleted. D Other. , .. " .. . . _ '! . !L arti<:.:!! - - Y n _ ;. , ! ed a!Jollows: provide artlclenumbe . if availabfe -) < i 1 80,000,000,000 common shares are authorized . ,P r $0.0001 i --- - .. . ........... . _ _ J (attach additional pa (s} i f necessary} Signatur., . of . Officer or Authorized Signer Title \*If any proposed amendmentwould alter or c ng any preference or any r$1atlve or other right given to any class or series of outstanding shares , . then the amendment must be approved by the vote, ln addition t the affirmative vote otherwI$e required, of the holders of shares pl'$si3Mtlng a majortiy . of the voting power of each class or series affeeted by . the amendment r.ttgardI8$8 IQ limlw.tlons or restriction$ on the voting power thereof 6. Signature: (Required} Plea e Include 111ny required or 0.ptfonal Information In •paca · bafow: · (attac h additiona l page (il) tfne¢eilsary) · This form must be accompanied by appropriate fees. Page2of2 Rev i se d : 111/2019

## Ex1A-2A

**Exhibit 2.9**

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Aubry Bjarnason 601 E Charleston Blvd Ste 100 Las Vegas, NV 89104, USA Work Order #: W2022123001042 December 30, 2022 Receipt Version: 1 Special Handling Instructions: Submitter ID: 653502 Charges Amount Price Qty Filing Status Filing Date/Time Filing Number Fee Description Description $175.00 $175.00 1 Approved 12/30/2022 9:53:00 AM 20222846120 Fees Certificate Pursuant to NRS 78.209 $125.00 $125.00 1 Approved 12/30/2022 9:53:00 AM 20222846120 Expedite Fee Certificate Pursuant to NRS 78.209 $0.00 $0.00 1 Pending Fees Annual List $500.00 $500.00 1 Pending Business License Fee Annual List $125.00 $125.00 1 Pending Expedite Fee Annual List $5625.00 $5625.00 1 Pending Stock Fee Annual List $6550.00 Total Payments Amount Payment Status Description Type $0.00 Success No Payment $6550.00 Success 6724287733426365103057 Credit Card $6550.00 Total Credit Balance: $0.00 BARBARA K. CEGAVSKE Secretary of State SCOTT ANDERSON Chief Deputy STATE OF NEVADA OFFICE OF THE SECRETARY OF STATE Commercial Recordings & Notary Division 202 N. Carson Street Carson City, NV 89701 Telephone (775) 684 - 5708 Fax (775) 684 - 7138 North Las Vegas City Hall 2250 Las Vegas Blvd North, Suite 400 North Las Vegas, NV 89030 Telephone (702) 486 - 2880 Fax (702) 486 - 2888 Aubry Bjarnason 601 E Charleston Blvd Ste 100 Las Vegas, NV 89104, USA

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Business Entity - Filing Acknowledgement 12/30/2022 Work Order Item Number: Filing Number: Filing Type: Filing Date/Time: Filing Page(s): W2022123001042 - 2599900 20222846120 Certificate Pursuant to NRS 78.209 12/30/2022 9:53:00 AM 2 Indexed Entity Information: Entity ID: C33445 - 2003 Entity Status: Active Entity Name: CBD LIFE SCIENCES INC. Expiration Date: None Commercial Registered Agent THE CORPORATE PLACE, INC. 601 E CHARLESTON BLVD STE 100, LAS VEGAS, NV 89104, USA BARBARA K. CEGAVSKE Secretary of State SCOTT ANDERSON Chief Deputy STATE OF NEVADA OFFICE OF THE SECRETARY OF STATE Commercial Recordings Division 202 N. Carson Street Carson City, NV 89701 Telephone (775) 684 - 5708 Fax (775) 684 - 7138 North Las Vegas City Hall 2250 Las Vegas Blvd North, Suite 400 North Las Vegas, NV 89030 Telephone (702) 486 - 2880 Fax (702) 486 - 2888 The attached document(s) were filed with the Nevada Secretary of State, Commercial Recording Division. The filing date and time have been affixed to each document, indicating the date and time of filing. A filing number is also affixed and can be used to reference this document in the future. Respectfully, BARBARA K. CEGAVSKE Secretary of State Page 1 of 1 Commercial Recording Division 202 N. Carson Street

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Business Number C33445 - 2003 Filed in the Office of Secretary of State State Of Nevada Filing Number 20222846120 Filed On 12/30/2022 9:53:00 AM Number of Pages 2

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MINUTES OF THE SPEOALBOARD OF DIRECJORSMEEIJNG : Of CBb LIFESCIENc INC. . The meeting: was ailedtoor4er by Usa Neisot'.I a$ Chainnan f meeting. Atteradante aUhe meeting wastisa IsonandQ nna • Nebon comprising the entire Boardof of thetorpe>ration. The m ngwashekf'at 1:00RMJ>n.November 21; 2022 at thecorporateoffJces. Ms. Nelson, stated that. the called meeting · i$ to decrease the number of sha sofcommon stock that the corporation is • authorizedto iss . It appears thecorporattonisautho issU.emore shares of (OIMlOR $tock than : will be needed andissµbjectto additio l@sts forno · fmrned,ate value. Motion was made and duly seconded, to the limit the authorized share$ of t9mmon stock:of the lo,P00,000;000 shares insteild of 80,(XX),OOO,0(Xlshares : ofcommonas presently p c o e ,r p r q m tlti o . n · R SOLYED: 11te . Corporatio11 hereby authorized to . appJv to State of Nevada , to . the number of a, thQ mmon $hates l;lfe by the corpotcnjon ioten (l0.000,000.®')) biU.on shares with the par vat Qf$0.Q()O()j There be no further µsine!$$ the meeting Wils adjoumedi L • . - . • • ' - Lisa A. Herson k. ---- ......:.. . . Brfan11c1 Nelson .

## Ex1A-2A

**Exhibit 2.10**

![](image_068.jpg)

Business Number C33445 - 2003 Filed in the Office of Secretary of State State Of Nevada Filing Number 20232900709 Filed On 1/24/2023 8:37:00 AM Number of Pages 1

## Ex1A-2A

**Exhibit 2.11**

![](image_069.jpg)

Business Number C33445 - 2003 Filed in the Office of Secretary of State State Of Nevada Filing Number 20233248541 Filed On 6/6/2023 9:44:00 AM Number of Pages 3

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09 : 44 : 58 a . m . 06 - 06 - 2023 s I 18178871604 ro : Page : 5 of 6 2023 - 06 - 06 16:45:30 GMT • FRANCISCO V. AGUILAR · Secretaryof Sta;ti • • • 2 Nort h CaC$O0 Stree t • Ciirson City, Nevad . a:S J01 - 420 . 1 (l}S):6 84 ?708 . •. •• •• • • • Website: · www.nysos . gpv . • ·· profit Corporation: .· certific . ate - of A.mendment . (PURs.uANrrq N857 K 3so . &1a3es17K390) - Certificate to Acc _ ornpany · R stated Article$ c,.r . Amended . and Restc1ted . Artif;;Jes .•. (P U RSUANT.TO NRS 78..4 ¸ 3J • . • - 0:fficer s · Statement (PURSIJANTTONRS . 80 . 030) • . , . ... 4. EJ:fe tive Date . aild Time : : (Optlo oa. i J 18178871604 From : Eric Newlan 5 ; lr_i rn'tat,on B ing Ohar:igeQ: (Dt,iro$.Stk: corporations ooJy) Ghapg s · t otakesJn¢foJJowing effoc;t: - fJ The ntity qame Nts been - amended. .. =: - J The r:e j$t1;ired agent has bee ri .chan9cqc;t_ (atta oh . Cerhf1¢aJe - of Ac,ceptanc e tro rn . he \ iv reg i s t erectagent} LJ Th purpO . Sf.l . of the entlfy rl:.:3$ be : eij _ amenqed , J &l The autheirized :sh 9 res i haye been a_rriended . Cl Th e directors , managers or general partners ' ave been amended , C J lRSJaxJahguagehas been added. LJ Artlcles h \ ;'e been dded . •• [] Mieles nave been delefed . Cl Other . . . T b . e a r t J ¢1e s ha y E; l ; be e m n ent;fed . ,)s · follows; (prQvjde - articJe . nqmbe.rs , itavailable) - · •••• -- ·· •••••• • ••••• c .•• •. • . . ~. ·... . ,. - .•..... ·,· .. • . .. · ..... - · - - · .. · - .· ..· ·,.. ' ••,' .·, ...,. .........• .... ..· - .. : - . . ··., '·••,, ,....... ' .. • ·. .. . .. '·. - .. · '.Article Fi ve, In the best intere sts oL . . : see Attachment a.ttach add iti onal page(spi'necessa _ ry) 6. Sign ture (Requited } Title r · - · - · · - ·· -- · · - - x j ..... •··· - - ., ..... ,, - r - -- - -- ~ - -- -- · J. Signature of Officer or . Authorized S i gner Titl e irany : pr o. posed - amendmen t wo µ td alter orcn;infJP - ally prefe r ence oranyrel.itive or . oth - er · righlgi v en to any dc1ss · or serie: \ ; ofo utsta nd i hg : .shace ; the i - 1the am _ endmen mµs t be approved by the vote, in addition to . t h e affinnativevofo . otherN l se required , cifthe h olders ofsha r es representing a ma]or l ty · ofthe vci tirig power ofraac:h class qr , se ti ei i;i:ffected by the amendment . regardlesstoJirnitations or restrictions on the voUng powetthEtebf . •• • Please inctude any r quired orop:tionaJ Jn fonn tion in space belo \ 1 / (ttach e itional pa.ge{s) ff : n ec . e i , s .ir y .) . P:a 9 a2;ira Revised ; 1;2112/'i.022 -

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09 : 44 : 58 a . m . 06 - 06 - 2023 I 6 I 18178871604 fo: Page : 6 of 6 2023 - 06 - 06 16:45:30 GMT 18178871604 From: Eric Newlan I 5, Inforiµation Being Cha . n ed {con . tinutition): ''A . rticJc l?ive . l n th e \ ?est : futeres - ts of the Corporation . and its . shareholders, th . ere shall b - e a rcve - tse split of the curren : tly . outsta,ndi 1 lg · shates oftl_ 1 e Corporation's - $0 . 00 () 1 par value common stock (the 1 'Gommon Stock ' ' .) ; on a one for - thr ee ..: hundr ed . (l - fot - 300) basis, that is , each three h : un : drcd { 300) shares shall become : one (1) s : l 1 are of Co - rporation Common Stock, t o be : carried out as . soon a s possible, and thi s Article Five of the A 1 ; ticles of Incorporation of th e Corponilioi 1 shall be am _rrdedto effecta 1 fot< 100 reversesroqk spl _ itto re - authoriz : eTenBillion (10 , 000 . QOO,QQO) sbaxes ofCommon Stockv - . 1 ith a patvalueof $0 . 0001 per share . and m teaffinn . the prior auth 6 ri 7 , . ation of One HundtedMilli 6 n(lO : Q,OOO,OOO) . shares _ ofprefen : ed . stook(th ''Pi : cforred Stock ' '}svHh a par value - of $0 . 00 ¸ - 1 p r share . ' · ' •

## Ex1A-2A

**Exhibit 2.11.1**

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Business Number C33445 - 2003 Filed in the Office of Secretary of State State Of Nevada Filing Number 20244536608 Filed On 12/17/2024 8:00:00 AM Number of Pages 1

## Ex1A-2A

**Exhibit 2.11.2**

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Business Number C33445 - 2003 Filed in the Office of Secretary of State State Of Nevada Filing Number 20254708602 Filed On 3/3/2025 8:00:00 AM Number of Pages 1

## Ex1A-2A

**Exhibit 2.11.3**

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FRANCISCO V. AGUILAR Secretary of State 401 North Carson Street Carson City, Nevada 89701 - 4201 (TTS) 684 - 5708 Website: www.nvsos.gov www.nvsilverflume.gov 6 (Profit Corporation: Certificate of Amendment (PuRsuANT To NRs 78 . 380 & 78.385/78 . 390) Certificate to Accompany Restated Articles or Amended and Restated Articles (PURSUANT Ta NRs 78.403) Officer's Statement r PuRsuANT To NRs 80 . 03o i Date: 05/13/2026 Time: (must not be later than 90 days after the certificate is filed) 4. Effective date and Time: (Optional) Changes to takes the following effect: D The entity name has been amended. D The registered agent has been changed. (attach Certificate of Acceptance from new registered agent) D The purpose of the entity has been amended. lit The authorized shares have been. amended. D The directors, managers or general partners have been amended. D IRS tax language has been added. D Articles have been added . D Articles have been deleted D Other . The articles have been amended as follows : (provide article numbers, if available) 5. Information Being Changed: (Domestic corporations only) IShareNam,.. - I ShareTvpe 'I I SharesQuantity IShacesValue ISilareT y peName I (CoMrv' \ 01 \ f '" 1 0 JOP<:J,OC)() �/ (attach additional page(s) if necessary) ' X Lisa Nelson Officer . Signature: Required) Signature of Officer, lncorporator or Authorized Signer Title \*Ifany proposed amendment would alterorchange any preference or anyrelative or otherright givento anyclass or series ofoutstanding shares, then theamendment must beapproved by the vote, inaddition to theaffirmative vote otherwise required, oftheholders ofshares representing amajority ofthevotingpower ofeachclass orseries affected by the amendment regardless tolimitations or restrictions onthe voting power thereof . Please include any required or optional information in space below: (attach additional page(s) if necessary) This form must be accompanied by appropriate fees . page 2 of 3

## Ex1A-2B

**Exhibit 2.12**

**CBD Life Sciences Inc.**

**BYLAWS**

**BYLAW**S

**OF**

**CBD Life Sciences Inc.**

**ARTICLE I<br> OFFICES**

The principal office of the corporation shall be designated time to time by the corporation and may be within or outside of Nevada.

The corporation may have such other offices, either within or outside Nevada, as the board of directors may designate or as the business of the corporation may require from time to time.

The registered office of the corporation required by the General Corporation Law of Nevada to be maintained in Nevada may be, but need not be, identical with the principal office, and the address of the registered office may be changed from time to time by the board of directors.

**ARTICLE II**

**SHAREHOLDERS**

Section 1. ANNUAL MEETING. The annual meeting of the shareholders shall be held on a date and at a time fixed by the board of directors of the corporation (or by the president in the absence of action by the board of directors), beginning with the year 2019, for the purpose of electing directors and for the transaction of such other business as may come before the meeting. If the election of directors is not held on the day fixed as provided herein for any annual meeting of the shareholders, or any adjournment thereof, the board of directors shall cause the election to be held at a special meeting of the shareholders as soon thereafter as it may conveniently be held.

A shareholder may apply to the district court in the county in Nevada where the corporation's principal office is located or, if the corporation has no principal office in Nevada, to the district court of the county in which the corporation's registered office is located to seek an order that a shareholder meeting be held (i) if an annual meeting was not held within six months after the close of the corporation's most recently ended fiscal year or fifteen months after its last annual meeting, whichever is earlier, or (ii) if the shareholder participated in a proper call of or proper demand for a special meeting and notice of the special meeting was not given within thirty days after the date of the call or the date the last of the demands necessary to require calling of the meeting was received by the corporation pursuant to the General Corporation Law of Nevada, or the special meeting was not held in accordance with the notice.

Section 2. SPECIAL MEETINGS. Unless otherwise prescribed by statute, special meetings of the shareholders may be called for any purpose by the president or by the board of directors. The president shall call a special meeting of the shareholders if the corporation receives one or more written demands for the meeting, stating the purpose or purposes for which it is to be held, signed and dated by holders of shares representing at least ten percent of all the votes entitled to be cast on any issue proposed to be considered at the meeting.

Section 3. PLACE OF MEETING. The board of directors may designate any place, either within or outside Nevada, as the place for any annual meeting or any special meeting called by the board of directors. A waiver of notice signed by all shareholders entitled to vote at a meeting may designate any place, either within or outside Nevada, as the place for such meeting. If no designation is made, or if a special meeting is called other than by the board, the place of meeting shall be the principal office of the corporation.

Section 4. NOTICE OF MEETING. Written notice stating the place, date, and hour of the meeting shall be given not less than ten nor more than sixty days before the date of the meeting, except if any other longer period is required by the General Corporation Law of Nevada. The secretary shall be required to give such notice only to shareholders entitled to vote at the meeting except as otherwise required by the General Corporation Law of Nevada.

Notice of a special meeting shall include a description of the purpose or purposes of the meeting. Notice of an annual meeting need not include a description of the purpose or purposes of the meeting except the purpose or purposes shall be stated with respect to (i) an amendment to the articles of incorporation of the corporation, (ii) a merger or share exchange in which the corporation is a party and, with respect to a share exchange, in which the corporation's shares will be acquired, (iii) a sale, lease, exchange or other disposition (i other than in the usual and regular course of business, of all or substantially all of the property of the corporation or of another entity which this corporation controls, in each case with or without the goodwill, (iv) a dissolution of the corporation, (v) restatement of the articles of incorporation, or (vi) any other purpose for which a statement of purpose is required by the General Corporation Law of Nevada. Notice shall be given personally or by mail, private carrier, electronically transmitted facsimile or other form of wire or wireless communication by or at the direction of the president, the secretary, or the officer or persons calling the meeting, to each shareholder of record entitled to vote at such meeting. If mailed and if in a comprehensible form, such notice shall be deemed to be given and effective when deposited in the United States mail, properly addressed to the shareholder at his address as it appears in the corporation's current record of shareholders, with first class postage prepaid. If notice is given other than by mail, and provided that such notice is in a comprehensible form, the notice is given and to be effective when sent.

If requested by the person or persons lawfully calling such meeting, the secretary shall give notice thereof at corporate expense. No notice need be sent to any shareholder if three successive, notices mailed to the last known address of such shareholder have been returned as undeliverable until such time as another address for such shareholder is made known to the corporation by such shareholder. In order to be entitled to receive notice of any meeting, a shareholder shall advise the corporation in writing of any change in such shareholder's mailing address as shown on the corporation's books and records.

When a meeting is adjourned to another date, time or place, notice need not be given of the new date, time or place if the new date, time or place of such meeting is announced before adjournment at the meeting at which the adjournment is taken. At the adjourned meeting the corporation may transact any business that may have been transacted at the original meeting. If the adjournment is for more than 120 days, or if a new record date is fixed for the adjourned meeting, a new notice of the adjourned meeting shall be given to each shareholder of record entitled to vote at the meeting as of the new record date.

A shareholder may waive notice of a meeting before or after the time and date of the meeting by a writing signed by such shareholder. Such waiver shall be delivered to the corporation for filing with the corporate records, but this delivery and filing shall not be conditions to the effectiveness of the waiver. Further, by attending a meeting either in person or by proxy, a shareholder waives objection to lack of notice or defective notice of the meeting unless the shareholder objects at the beginning of the meeting to the holding of the meeting or the transaction of business at the meeting because of lack of notice or defective notice. By attending the meeting, the shareholder also waives any objection to consideration at the meeting of a particular matter not within the purpose or purposes described in the meeting notice unless the shareholder objects to considering the matter when it is presented.

Section 5. FIXING OF RECORD DATE. For the purpose of determining shareholders entitled to (i) notice of or vote at any meeting of shareholders or any adjournment thereof, (ii) receive distributions or share dividends, (iii) demand a special meeting, or (iv) make a determination of shareholders for any other proper purpose, the board of directors may fix a future date as the record date for any such determination of shareholders, such date in any case to be not more than seventy days, and, in case of a meeting of shareholders, not less than ten days, prior to the date on which the particular action requiring such determination of shareholders is to be taken. If no record date is fixed by the directors, the record date shall be the day before the notice of the meeting is given to shareholders, or the date on which the resolution of the board of directors providing for a distribution is adopted, as the case may be. When a determination of shareholders entitled to vote at any meeting of shareholders is made as provided in this section, such determination shall apply to any adjournment thereof unless the board of directors fixes a new record date, which it must do if the meeting is adjourned to a date more than 120 days after the date fixed for the original meeting. Unless otherwise specified when the record date is fixed, the time of day for such determination shall be as of the corporation's close of business on the record date.

Notwithstanding the above, the record date for determining the shareholders entitled to take action without a meeting or entitled to be given notice of action so taken shall be the date a writing upon which the action is taken is first received by the corporation. The record date for determining shareholders entitled to demand a special meeting shall be the date of the earliest of any of the demands pursuant to which the meeting is called.

Section 6. VOTING LISTS. After a record date is fixed for a shareholders' meeting, the secretary shall make, at the earlier often days before such meeting or two business days after notice of the meeting has been given, a complete list of the shareholders entitled to be given notice of such meeting or any adjournment thereof. The list shall be arranged by voting groups and within each voting group by class or series of shares, shall be in alphabetical order within each class or series, and shall show the address of and the number of shares of each class or series held by each shareholder. For the period beginning the earlier of ten days prior to the meeting or two business days after notice of the meeting is given and continuing through the meeting and any adjournment thereof, this list shall be kept on file at the principal office of the corporation, or at a place (which shall be identified in the notice) in the city where the meeting will be held. Such list shall be available for inspection on written demand by any shareholder (including for the purpose of this Section 6 any holder of voting trust certificates) or his agent or attorney during regular business hours and during the period available for inspection. The original share transfer books shall be prima facie evidence as to who are the shareholders entitled to examine such list or transfer books or to vote at any meeting of shareholders.

Any shareholder, his agent or attorney may copy the list during 'regular business hours and during the period it is available for inspection, provided (i) the shareholder has been a shareholder for at least three months immediately preceding the demand or holds at least five percent of all outstanding shares of any class of shares as of the date of the demand, (ii) the demand is made in good faith and for a purpose reasonably related to the demanding shareholder's interest as a shareholder, (iii) the shareholder describes with reasonable particularity the purpose and the records the shareholder desires to inspect, (iv) the records are directly connected with the described purpose, and (v) the shareholder pays a reasonable charge covering the costs of labor and material for such copies, not to exceed the estimated cost of production and reproduction.

Section 7. RECOGNITION PROCEDURE FOR BENEFICIAL OWNERS~ The board of directors may adopt by resolution a procedure whereby a shareholder of the corporation may certify in writing to the corporation that all or a portion of the shares registered in the name of such shareholder are held for the account of a specified person or persons. The resolution may set forth (i) the types of nominees to which it applies, (ii) the rights or privileges that the corporation will recognize in a beneficial owner, which may include rights and privileges other than voting, (iii) the form of certification and the information to be contained therein, (iv) if the certification is with respect to a record date, the time within which the certification must be received by the corporation, (v) the period for which the nominee's use of the procedure is effective, and (vi) such other provisions with respect to the procedure as the board deems necessary or desirable. Upon receipt by the corporation of a certificate complying with the procedure established by the board of directors, the persons specified in the certification shall be deemed, for the purpose or purposes set forth in the certification, to be the registered holders of the number of shares specified in place of the shareholder making the certification.

Section 8. QUORUM AND MANNER OF ACTING. A majority of the votes entitled to be cast on a matter by a voting group represented in person or by proxy, shall constitute a quorum of that voting group for action on the matter. If less than a majority of such votes are represented at a meeting, a majority of the votes so represented may adjourn the meeting from time to time without further notice, for a period not to exceed 120 days for anyone adjournment. If a quorum is present at such adjourned meeting, any business may be transacted which might have been transacted at the meeting as originally noticed. The shareholders present at a duly organized meeting may continue to transact business until adjournment, notwithstanding the withdrawal of enough shareholders to leave less than a quorum, unless the meeting is adjourned and a new record date is set for the adjourned meeting.

If a quorum exists, action on a matter other than the election of directors by a voting group is approved if the votes cast within the voting group favoring the action exceed the votes cast within the voting group opposing the action, unless the vote of a greater number or voting by classes is required by law or the articles of incorporation.

Section 9. PROXIES. At all meetings of shareholders, a shareholder may vote by proxy by signing an appointment form or similar writing, either personally or by his duly authorized attorney-in-fact. A shareholder may also appoint a proxy by transmitting or authorizing the transmission of a facsimile or other electronic transmission providing a written statement of the appointment to the proxy, a proxy solicitor, proxy support service organization, or other person duly authorized by the proxy to receive appointments as agent for the proxy, or to the corporation. The transmitted appointment shall set forth or be transmitted with written evidence from which it can be determined that the shareholder transmitted or authorized transmission of the appointment. The proxy appointment for similar writing shall be filed with the secretary of the corporation before or at the time of the meeting. The appointment of a proxy effective when received by the corporation and is valid for eleven (11) months unless a different period is expressly provided in the appointment form or similar writing.

Any complete copy, including an electronically transmitted facsimile, of an appointment of a proxy may be substituted for or used/in. lieu of the original appointment for any purpose for which the original appointment could be used.

Revocation of a proxy does not affect the right of the corporation to accept the proxy's authority unless (i) the corporation had notice that the appointment was coupled with an interest and notice that such interest is extinguished is received by the secretary or other officer or agent authorized to tabulate votes before the proxy exercises his authority under the appointment, or (ii) other notice of the revocation of the appointment is received by the secretary or other officer or agent authorized to tabulate votes before the proxy exercises his authority under the appointment. Other notice of revocation may in, the discretion of the corporation, be deemed to include the appearance at a shareholders' meeting of the shareholder who granted the proxy and his voting in person on any matter subject to a vote at such meeting.

The death or incapacity of the shareholder appointing a proxy does not affect the right of the corporation to accept the proxy's authority unless notice of the death or incapacity is received by the secretary or other officer or agent authorized to tabulate votes before the proxy exercises his authority under the appointment.

The corporation shall not be required to recognize an appointment made irrevocable if it has received a writing revoking the appointment signed by the shareholder Including a shareholder who is a successor to the shareholder who granted the proxy) either personally or by his attorney-in-fact, notwithstanding that the revocation may be a breach of an obligation of the shareholder to another person not to revoke the appointment.

Subject to Section 11 and any express limitation on the proxy's authority appearing on the appointment form, the corporation is entitled to accept the proxy's vote or other action as that of the shareholder making the appointment.

Section 10. VOTING OF SHARES. Each outstanding share, regardless of class, shall be entitled to one vote, except in the election of directors, and each fractional share shall be entitled to a corresponding fractional vote on each matter submitted to a vote at a meeting of shareholders, except to the extent that the voting rights of the shares of any class or classes are limited or denied by the articles of incorporation as permitted by the General Corporation Law of Nevada. Cumulative voting shall not be permitted in the election of directors or for any other purpose. Each record holder of shares shall be entitled to vote in the election of directors and shall have as many votes for each of the shares owned by him as there are directors to be elected and for whose election he has the right to vote.

At each election of directors, that number of candidates equaling the number of directors to be elected, having the highest number of votes cast in favor of their election, shall be elected to the board of directors.

Except as otherwise ordered by a court of competent jurisdiction upon a finding that the purpose of this Section would not be violated in the circumstances presented to the court, the shares of the corporation are not entitled to be voted if they are owned, directly or indirectly, by a second corporation, domestic or foreign, and the first corporation owns, directly or indirectly, a majority of the shares entitled to vote for directors of the second corporation except to the extent the second corporation holds the shares in a fiduciary capacity.

Redeemable shares are not entitled to be voted after notice of redemption is mailed to the holders and a sum sufficient to redeem the shares has been deposited with a bank, trust company or other financial institution under an irrevocable obligation to pay the holders the redemption price on surrender of the shares.

Section 11. CORPORATION'S ACCEPTANCE OF VOTES. If the name signed on a vote, consent, waiver, proxy appointment, or proxy appointment revocation corresponds to the name of a shareholder, the corporation, if acting in good faith, is entitled to accept the vote, consent, waiver, proxy appointment or proxy appointment revocation and give it effect as the act of the shareholder. If the name signed on a vote, consent, waiver, proxy appointment or proxy appointment revocation does not correspond to the name of a shareholder, the corporation, if acting in good faith, is nevertheless entitled to accept the vote, consent, waiver, proxy appointment or proxy appointment revocation and to give it effect as the act shareholder if:

(i) the shareholder is an entity and the name signed purports to be that of an officer or agent of the entity;

(ii) the name signed purports to be that of an administrator, executor, guardian or conservator representing the shareholder and; if the corporation requests, evidence of fiduciary status acceptable to the corporation has been presented with respect to the vote, consent, waiver, proxy appointment or proxy appointment revocation;

(iii) the name signed purports to be that of a receiver or trustee ill bankruptcy of the shareholder and, if the corporation requests, evidence of this status acceptable to the corporation has been presented with respect to the vote, consent, waiver, proxy appointment or proxy appointment revocation;

(iv) the name signed purports to be that of a pledgee, beneficial owner or attorney-in-fact of the shareholder and, if the corporation requests, evidence acceptable to the corporation of the signatory's authority to sign for the shareholder has been presented with respect to the vote, consent, waiver, proxy appointment or proxy' appointment revocation;

(v) two or more persons are the shareholder as co-tenants or fiduciaries and the name signed purports to be the name of at least one of the co-tenants or fiduciaries, and the person signing appears to be acting on behalf of all the co-tenants or fiduciaries; or

(vi) the acceptance of the vote, consent, waiver, proxy appointment or proxy appointment revocation is otherwise proper under rules established by the corporation that are not inconsistent with this Section 11.

The corporation is entitled to reject a vote, consent, waiver, proxy appointment or proxy appointment revocation if the secretary or other officer or agent authorized to tabulate votes, acting in good faith, has reasonable basis for doubt about the validity of the signature on it or about the signatory's authority to sign for the shareholder.

Neither the corporation nor its officers nor any agent who accepts or rejects a vote, consent, waiver, proxy appointment or proxy appointment revocation in good faith and in accordance with the standards of this Section is liable in damages for the consequences of the acceptance or rejection.

Section 12. INFORMAL ACTION BY SHAREHOLDERS. Any action required or permitted to be taken at a meeting of the shareholders may be taken without a meeting if a written consent (or counterparts thereof) that sets forth the action so taken is signed by shareholders holding at least that proportion of the voting power necessary to approve such action and received by the corporation. Such consent shall have the same force and effect as a vote of the shareholders and may be stated as such in any document. Action taken under this Section 12 is effective as of the date the last writing necessary to effect the action is received by the corporation, unless an of the writings specify a different effective date, in which case such specified date shall be the effective date for such action. The record date for determining shareholders entitled to take action without a meeting is the date the corporation first receives a writing upon which the action is taken.

Any shareholder who has signed a writing describing and consenting to action taken pursuant to this Section 12 may revoke such consent by a writing signed by the shareholder describing the action and stating that the shareholder's prior consent thereto is revoked, if such writing is received by the corporation before the effectiveness of the action.

Section 13. MEETINGS BY TELECOMMUNICATION. Any or all of the shareholders may participate in an annual or special shareholders' meeting by, or the meeting may be conducted through the use of, any means of communication by which all persons participating in the meeting may hear each other during the meeting. A shareholder participating in a meeting by this means is deemed to be present in person at the meeting.

**ARTICLE III**

**BOARD OF DIRECTORS**

Section 1. GENERAL POWERS. All corporate powers shall be exercised by or under the authority of, and the business and affairs of the corporation shall be managed under the direction of, its board of directors, except as otherwise provided in the General Corporation Law of Nevada or the articles of incorporation.

Section 2. NUMBER, QUALIFICATIONS AND TENURE. The number of directors of the corporation maybe fixed from time to time by the board of directors, within a range of no less than one or more than fifteen, but no decrease in the number of directors shall have the effect of shortening the term of any incumbent director. A director shall be a natural person who is eighteen years of age or older. A director need not be a resident of Nevada or a shareholder of the corporation.

Directors shall be elected at each annual meeting of shareholders.

Each director shall hold office until the next annual meeting of shareholders following his election and thereafter until his successor shall have been elected and qualified. Directors shall be removed in the manner provided by the General Corporation Law of Nevada. Any director may be removed by the shareholders of the voting group that elected the director, with cause, at a meeting called for that purpose. The notice of the meeting shall state that the purpose or one of the purposes of the meeting is removal of the director. A director may be removed only if the number of votes cast in favor of removal exceeds the number of votes cast against removal.

Section 3. VACANCIES. Any director may resign at any time by giving written notice to the secretary. Such resignation shall take effect at the time the notice is received by the secretary unless the notice specifies a later effective date. Unless otherwise specified in the notice of resignation, the corporation's acceptance of such resignation shall not be necessary to make it effective. Any vacancy on the board of directors may be filled by the affirmative vote of a majority of the shareholders at a special meeting called for that purpose or by the board of directors. If the directors remaining in office constitute fewer than a quorum of the board, the directors may fill the vacancy by the affirmative vote of a majority of all the directors remaining in office. If elected by the directors, the director shall hold office until the next annual shareholders' meeting at which directors are elected. If elected by the shareholders, the director shall hold office for the unexpired term of his predecessor in office; except that, if the director's predecessor was elected by the directors to fill a vacancy, the director elected by the shareholders shall hold office for the unexpired term of the last predecessor elected by the shareholders.

Section 4. REGULAR MEETINGS. A regular meeting of the board of directors shall be held without notice immediately after and at the same place as the annual meeting of shareholders. The board of directors may provide by resolution the time and place, either within or outside Nevada, for the holding of additional regular meetings without other notice.

Section 5. SPECIAL MEETINGS. Special meetings of the board of directors may be called by or at the request of the president or any one of the directors. The person or persons authorized to call special meetings of the

board of directors may fix any place, either within or outside Nevada, as the place for holding any special meeting of the board of directors called by them.

Section 6. NOTICE. Notice of the date, time and place of any special meeting shall be given to each director at least two days prior to the meeting by written notice either personally delivered or mailed to each director at his business address, or by notice transmitted by private courier, electronically transmitted facsimile or other form of wire or wireless communication. If mailed, such notice shall be deemed to be given and to be effective when deposited in the United States mail, properly addressed, with first class postage prepaid. If notice is given by electronically transmitted facsimile or other similar form of wire or wireless communication, such notice shall be deemed to be given and to be effective when sent. If a director has designated in writing one or more reasonable addresses or facsimile numbers for delivery of notice to him, notice sent by mail, electronically transmitted facsimile or other form of wire or wireless communication shall not be deemed to have been given or to be effective unless sent to such addresses or facsimile numbers, as the case may be.

A director may waive notice of a meeting before or after the time and date of the meeting by a writing signed by such director. Such waiver shall be delivered to the secretary for filing with the corporate records, but such delivery and filing shall not be conditions to the effectiveness of the waiver. Further, a director's attendance at or participation in a meeting waives any required notice to him of the meeting unless at the beginning of the meeting, or promptly upon his later arrival, the director objects to holding the meeting or transacting business at the meeting because of lack of notice or defective notice and does not thereafter vote for or assent to action taken at the meeting. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the board of directors need be specified in the notice or waiver of notice of such meeting.

Section 7. QUORUM. A majority of the number of directors fixed by the board of directors pursuant to Article III, Section 2 or, if no number is fixed, a majority of the number in office immediately before the meeting begins, shall constitute a quorum for the transaction of business at any meeting of the board of directors.

Section 8. MANNER OF ACTING. The act of the majority of the directors present at a meeting at which a quorum is present shall be the act of the board of directors.

Section 9. COMPENSATION. By resolution of the board of directors, any director may be paid anyone or more of the following: his expenses, if any, of attendance at meetings, a fixed sum for attendance at each meeting, a stated salary as director, or such other compensation as the corporation and the director may reasonably agree upon. No such payment shall preclude any director from serving the corporation in any other capacity and receiving compensation therefor.

Section 10. PRESUMPTION OF ASSENT. A director of the corporation who is present at a meeting of the board of directors or committee of the board at which action on any corporate matter taken shall be presumed to have assented to all action taken at the meeting unless (i) the director objects at the beginning of the meeting, or promptly upon his arrival, to the holding of the meeting or the transaction of business at the meeting and does not thereafter vote for or assent to any action taken at the meeting, (ii) the director contemporaneously requests that his dissent or abstention as to any specific action taken be entered in the minutes of the meeting, (iii) the director causes written notice of his dissent or abstention as to any specific action to be received by the presiding officer of the meeting before its adjournment or by the secretary promptly after the adjournment of the meeting. A director may dissent to a specific action at a meeting, while assenting to others. The right to dissent to a specific action taken at a meeting of the board of directors or a committee of the board shall not be available to a director who voted in favor of such action.

Section 11. COMMITTEES. By resolution adopted by a majority of all the directors in office when the action is taken, the board of directors may designate from among its members an executive committee and one or more other committees, and appoint one or more members of the board of directors to serve on them. To the extent provided in the resolution.

Sections 4, 5, 6, 7, 8 or 12 of Article III, which govern meetings, notice, waiver of notice, quorum, voting requirements and action without a meeting of the board of directors, shall apply to committees and their members appointed under this Section 11.

Neither the designation of any such committee, the delegation of authority to such committee, nor any action by such committee pursuant to its authority shall alone constitute compliance by any member of the board of directors or a member of the committee in question with his responsibility to conform to the standard of care set forth in Article III, Section 14 of these bylaws.

Section 12. INFORMAL ACTION BY DIRECTORS. Any action required or permitted to be taken at a meeting of the directors or any committee designated by the board of directors may be taken without a meeting if a written consent (or counterparts thereof) that sets forth the action so taken is signed by all of the directors entitled to vote with respect to the action taken. Such consent shall have the same force and effect as a unanimous vote of the directors or committee members and may be stated as such in any document. Unless the consent specifies a different effective time or date, action taken under this Section 12 is effective at the time or date the last director signs a writing describing the action taken, unless, before such time, any director has revoked his consent by a writing signed by the director and received by the president or the secretary of the corporation.

Section 13. TELEPHONIC MEETINGS. The board of directors may permit any director (or any member of a committee designated by the board) to participate in a regular or special meeting of the board of directors or a committee thereof through the use of any means of communication by which all directors participating in the meeting can hear each other during the meeting. A director participating in a meeting in this manner is deemed to be present in person at the meeting.

Section 14. STANDARD OF CARE. A director shall perform his duties as a director, including without limitation his duties as a member of any committee of the board, in good faith, in a manner he reasonably believes to be in the best interests of the corporation, and with the care an ordinarily prudent person in a like position would exercise under similar circumstances. In performing his duties, a director shall be entitled to rely on information, opinions, reports or statements, including financial statements and other financial data, in each case prepared or presented by the persons herein designated. However, he shall not be considered to be acting in good faith if he has knowledge concerning the matter in question that would cause such reliance to be unwarranted. A director shall not be liable to the corporation or its shareholders for any action he takes or omits to take as a director if, in connection with such action or omission, he performs his duties in compliance with this Section 14.

The designated persons on whom a director is entitled to rely are (i) one or more officers or employees of the corporation whom the director reasonably believes to be reliable and competent in the matters presented, (ii) legal counsel, public accountant, or other person as to matters which the director reasonably believes to be within such person's professional or expert competence, or (iii) a committee designated by the board of directors may be taken without a meeting if a written consent (or counterparts thereof) that sets forth the action so taken is signed by all of the directors entitled to vote with respect to the action taken. Such consent shall have the same force and effect as a unanimous vote of the directors or committee members and may be stated as such in any document. Unless the consent specifies a different effective time or date, action taken under this Section 12 is effective at the time or date the last director signs a writing describing the action taken, unless, before such time, any director has revoked his consent by a writing signed by the director and received by the president or the secretary of the corporation.

The designated persons on whom a director is entitled to rely are (i) one or more officers or employees of the corporation whom the director reasonably believes to be reliable and competent in the matters presented, (ii) legal counsel, public accountant, or other person as to matters which the director reasonably believes to be within such person's professional or expert competence, or (iii) a committee of the board of directors on which the director desires to serve if the director reasonably believes the committee merits confidence.

**ARTICLE IV**

**OFFICERS AND AGENTS**

Section 1. GENERAL. The officers of the corporation chief executive officer and/or president, a secretary and a treasurer and may also include one or more vice presidents, each officer shall be appointed by the board of directors and natural person eighteen years of age or older. One person more than one office. The board of directors or an officer or authorized by the board may appoint such other officers, officers, committees and agents, including a chairman of assistant secretaries and assistant treasurers, as they may consider necessary. Except as expressly prescribed by these bylaws, of directors or the officer or officers authorized by the board from time to time determine the procedure for the officers, their authority and duties and their compensation, that the board of directors may change the authority, duties compensation of any officer who is not appointed by the board.

Section 2. APPOINTMENT AND TERM OF OFFICE. The officers of the corporation to be appointed by the board of directors shall be appointed at each annual meeting of the board held after each annual meeting of the shareholders. If the appointment of officers is not made at such meeting or if an officer or officers are to be appointed by another officer or officers of the corporation, such appointments shall be made as determined by the board of directors or the appointing person or persons. Each officer shall hold office until the first of the following occurs: his successor shall have been duly appointed and qualified, his death, his resignation, or his removal in the manner provided in Section 3.

Section 3. RESIGNATION AND REMOVAL. An officer may resign at any time by giving written notice of resignation to the president, secretary or other person who appoints such officer. The resignation is effective when the notice is received by the corporation unless the notice specifies a later effective date.

Any officer or agent may be removed at any time with or without cause by the board of directors or an officer or officers authorized by the board. Such removal does not affect the contract rights, if any, of the corporation or of the person so removed. The appointment of an officer or agent shall not in itself create contract rights.

Section 4. VACANCIES. A vacancy in any office, however occurring, may be filled by the board of directors, or by the officer or officers authorized by the board, for the unexpired portion of the officer's term. If an officer resigns and his resignation is made effective at a later date, the board of directors, or officer or officers authorized by the board, may permit the officer to remain in office until the effective date and may fill the pending vacancy before the effective date if the board of directors or officer or officers authorized by the board provide that the successor shall not take office until the effective date. In the alternative, the board of directors, or officer or officers authorized by the board of directors, may remove the officer at any time before the effective date and may fill the resulting vacancy.

Section 5. PRESIDENT. The president shall preside at all meetings of shareholders and all meetings of the board of directors unless the board of directors has appointed a chairman, vice chairman, or other officer of the board and has authorized such person to preside at meetings of the board of directors. Subject to the direction and supervision of the board of directors, the president shall be the chief executive officer of the corporation, and shall have general and active control of its affairs and business and general supervision of its officers, agents and employees. Unless otherwise directed by the board of directors, the president shall attend in person or by substitute appointed by him, or shall execute on behalf of the corporation written instruments appointing a proxy or proxies to represent the corporation, at all meetings of the shareholders of any other corporation in which the corporation holds any shares. On behalf of the corporation, the president may in person or by substitute or by proxy execute written waivers of notice and consents with respect to any such meetings. At all such meetings and otherwise, the president, in person or by substitute or proxy, may vote the shares held by the corporation, execute written consents and other instruments with respect to such shares, and exercise any and all rights and powers incident to the ownership of said shares, subject to the instructions, if any, of the board of directors. The president shall have custody of the treasurer's bond, if any. The president shall have such additional authority and duties as are appropriate and customary for the office of president and chief executive officer, except as the same may be expanded or limited by the board of directors from time to time.

Section 6. VICE PRESIDENTS. The vice presidents shall assist the president and shall perform such duties as may be assigned to them by the president or by the board of directors. In the absence of the president, the vice president, if any (or, if more than one, the vice presidents in the order designated by the board of directors, or if the board makes no such designation, then the vice president designated by the president, or if neither the board nor the president makes any such designation, the senior vice president as determined by first election to that office), shall have the powers and perform the duties of the president.

Section 7. SECRETARY. The secretary shall (i) prepare and maintain as permanent records the minutes of the proceedings of the shareholders and the board of directors, a record of all actions taken by the shareholders or board of directors without a meeting, a record of all actions taken by a committee of the board of directors in place of the board of directors on behalf of the corporation, and a record of all waivers of notice of meetings of shareholders and of the board of directors or any committee thereof, (ii) see that all notices are duly given in accordance with the provisions of these bylaws and as required by law, (iii) serve as custodian of the corporate records and of the seal of the corporation and affix the seal to all documents when authorized by the board of directors, (iv) keep at the corporation's registered office or principal place of business a record containing the names and addresses of all shareholders in a form that permits preparation of a list of shareholders arranged by voting group and by class or series of shares within each voting group, that is alphabetical within each class or series and that shows the address of, and the number of shares of each class or series held by, each shareholder, unless such a record shall be kept at the office of the corporation's transfer agent or registrar, (v) maintain at the corporation's principal office the originals or copies of the corporation's articles Of incorporation, bylaws, minutes of all shareholders' meetings and records of all action taken by shareholders without a meeting for the past three years, all written communications within the past three years to shareholders as a group or to the holders of any class or series of shares as a group, a list of the names and business addresses of the current directors and officers, a copy of the corporation's most recent corporate report filed with the Secretary of State, and financial statements showing in reasonable detail the corporation's assets and liabilities and results of operations for the last three years, (vi) have general charge of the stock transfer books of the corporation, unless the corporation has a transfer agent, (vii) authenticate records of the corporation, and (viii) in general, perform all duties incident to the office of secretary and such other duties as from time to time may be assigned to him by the president or by the board of directors. Assistant secretaries, if any, shall have the same duties and powers, subject to supervision by the secretary. The directors and/or shareholders may however respectively designate a person other than the secretary or assistant secretary to keep the minutes of their respective meetings.

Any books, records, or minutes of the corporation may be in written form or in any form capable of being converted into written form within a reasonable time:

Section 8. TREASURER. The treasurer shall be the principal financial officer of the corporation, shall have the care and custody of all funds, securities, evidences of indebtedness and other personal property of the corporation and shall deposit the same in accordance with the instructions of the board of directors. Subject to the limits imposed by the board of directors, he shall receive and give receipts and acquaintances for money paid in on account of the corporation, and shall payout of the corporation's funds on hand all bills, payrolls and other just debts of the corporation of whatever nature upon maturity. He shall perform all other duties incident to the office of the treasurer and, upon request of the board, shall make such reports to it as may be required at any time. He shall, if required by the board, give the corporation a bond in such sums and with such 'sureties as shall be satisfactory to the board, conditioned upon the faithful performance of his duties and for the restoration to the corporation of all books, papers, vouchers, money and other property of whatever kind in his possession or under his control belonging to the corporation. He shall have such other powers and perform such other duties as may from time to time be prescribed by the board of directors or the president. The assistant treasurers, if any, shall have the same powers and duties, subject to the supervision of the treasurer.

The treasurer shall also be the principal accounting officer of the corporation. He shall prescribe and maintain the methods and systems of accounting to be followed, keep complete books and records of account as required by the General Corporation Law of Nevada, prepare and file all local, state and federal tax: returns, prescribe and maintain an adequate system of internal audit and prepare and furnish to the president and the board of directors statements of account showing the financial position of the corporation and the results of its operations.

**ARTICLE V<br> SHARES**

Section 1. CERTIFICATES. The board of directors shall be authorized to issue any of its classes of shares with or without certificates. The fact that the shares are not represented by certificates shall have no effect on the rights and obligations of shareholders. If the shares are represented by certificates, such shares shall be represented by consecutively numbered certificates signed, either manually or by facsimile, in the name of the corporation by the president. In case any officer who has signed or whose facsimile signature has been placed upon such certificate shall have ceased to be such officer before such certificate is issued, such certificate may nonetheless be issued by the corporation with the same effect as if he were such officer at the date of its issue. All certificates shall be consecutively numbered, and the names of the owners, the number of shares, and the date of issue shall be entered on the books of the corporation. Each certificate representing shares shall state upon its face:

(i) That the corporation is organized under the laws of Nevada; (ii) The name of the person to whom issued;

(iii) The number and class of the shares and the designation of the series, if any, that the certificate represents;

(iv) The par value, if any, of each share represented by the certificate;

(v) Any restrictions imposed by the corporation upon the transfer of the shares represented by the certificate.

If shares are not represented by certificates, within a reasonable time following the issue or transfer of such shares, the corporation shall send the shareholder a complete written statement of all of the information required to be provided to holders of uncertificated shares by the General Corporation Law of Nevada.

Section 2. CONSIDERATION FOR SHARES. Certificated or uncertificated shares shall not be issued until the shares represented thereby are fully paid. The board of directors may authorize the issuance of shares for consideration consisting of any tangible or intangible property or benefit to the corporation, including cash, promissory notes, services performed or other securities of the corporation. Future services shall not constitute payment or partial payment for shares of the corporation. The promissory note of a subscriber or an affiliate of a subscriber shall not constitute payment or partial payment for shares of the corporation unless the note is negotiable and is secured by collateral, other than the shares being purchased, having a fair market value at least equal to the principal amount of the note. For purposes of this Section 2, "promissory note" means a negotiable instrument on which there is an obligation to pay independent of collateral and does not include a non-recourse note.

Section 3. LOST CERTIFICATES. In case of the alleged loss, destruction or mutilation of a certificate of stock, the board of directors may direct the issuance of a new certificate in lieu thereof upon such terms and conditions in conformity with law as the board may prescribe. The board of directors may in its discretion require an affidavit of lost certificate and/or a bond in such form and amount and with such surety as it may determine before issuing a new certificate.

Section 4. TRANSFER OF SHARES. Upon surrender to the corporation or to a transfer agent of the corporation of a certificate of stock duly endorsed or accompanied by proper evidence of succession, assignment or authority to transfer, and receipt of such documentary stamps as may be required by law and evidence of compliance with all applicable securities laws and other restrictions, the corporation shall issue a new certificate to the person entitled thereto, and cancel the old certificate. Every such transfer of stock shall be entered on the stock books of the corporation that shall be kept at its principal office or by the person and at the place designated by the board of directors.

Except as otherwise expressly provided in Article II, Sections 7 and 11, and except for the assertion of dissenters' rights to the extent provided in the Nevada General Corporation Law, the corporation shall be entitled to treat the registered holder of any shares of the corporation as the owner thereof for all purposes, and the corporation shall not be bound to recognize any equitable or other claim to, or interest in, such shares or rights deriving from such shares on the part of any person other than the registered holder, including without limitation any purchaser, assignee or transferee of such shares or rights deriving from such shares, unless and until such other person becomes the registered holder of such shares, whether or not the corporation shall have either actual or constructive notice of the claimed interest of such other person.

Section 5. TRANSFER AGENT, REGISTRARS AND PAYING AGENTS. The board may at its discretion appoint one or more transfer agents, registrars and agents for making payment upon any class of stock, bond, debenture or other security of the corporation. Such agents and registrars may be located either within or outside Nevada. They shall have such rights and duties and shall be entitled to such compensation as may be agreed.

**ARTICLE VI**

**INDEMNIFICATION OF CERTAIN PERSONS**

Section 1. INDEMNIFICATION. For purposes of Article VI, a "Proper Person" means any person (including the estate or personal representative of a director) who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, and whether formal or informal, by reason of the fact that he is or was a director, officer, employee, fiduciary or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, partner, trustee, employee, fiduciary or agent of any foreign or domestic profit or nonprofit corporation or of any partnership, joint venture, trust, profit or nonprofit unincorporated association, limited liability company, or other enterprise or employee benefit plan. The corporation shall indemnify any Proper Person against reasonably incurred expenses (including attorneys' fees), judgments,

penalties, fines (including any excise tax assessed with respect to an employee benefit plan) and amounts paid in settlement reasonably incurred by him in connection with such action, suit or proceeding if it is determined by the groups set forth in Section 4 of this Article that he conducted himself in good faith and that he reasonably believed (i) in the case of conduct in his official capacity with the corporation, that his conduct was in the corporation's best interests, or (ii) in all other cases (except criminal cases), that his conduct was at least not opposed to the corporation's best interests, or (iii) in the case of any criminal proceeding, that he had no reasonable cause to believe his conduct was unlawful. Official capacity means, when used with respect to a director, the office of director and, when used with respect to any other Proper Person, the office in a corporation held by the officer or the employment, fiduciary or agency relationship undertaken by the employee, fiduciary, or agent on behalf of the corporation. Official capacity does not include service for any other domestic or foreign corporation or other person or employee benefit plan.

A director's conduct with respect to an employee benefit plan for a purpose the director reasonably believed to be in the interests of the participants in or beneficiaries of the plan is conduct that satisfies the requirement in (ii) of this Section 1. A director's conduct with respect to an employee benefit plan for a purpose that the director did not reasonably believe to be in the interests of the participants in or beneficiaries of the plan shall be deemed not to satisfy the requirement of this section that he conduct himself in good faith.

No indemnification shall be made under this Article VI to a Proper Person with respect to any claim, issue or matter in connection with a proceeding by or in the right of a corporation in which the Proper Person was adjudged liable to the corporation or in connection with any proceeding charging that the Proper Person derived an improper personal benefit, whether or not involving action in an official capacity, in which he was adjudged liable on the basis that he derived an improper personal benefit. Further, indemnification under this section in connection with a proceeding brought by or in the right of the corporation shall be limited to reasonable expenses, including attorneys' fees, incurred in connection with the proceeding.

Section 2. RIGHT TO INDEMNIFICATION. The corporation shall indemnify any Proper Person who was wholly successful, on the merits or otherwise, in defense of any action, suit, or proceeding as to which he was entitled to indemnification under Section 1 of this Article VI against expenses (including attorneys' fees) reasonably incurred by him in connection with the proceeding without the necessity of any action by the corporation other than the determination in good faith that the defense has been wholly successful.

Section 3. EFFECT OF TERMINATION OF ACTION. The termination of any action, suit or proceeding by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent shall not of itself create a presumption that the person seeking indemnification did not meet the standards of conduct described in Section 1 of this Article VI. Entry of a judgment by consent as part of a settlement shall not be deemed an adjudication of liability, as described in Section 2 of this Article VI.

Section 4. GROUPS AUTHORIZED TO MAKE INDEMNIFICATION DETERMINATION. Except where there is a right to indemnification as set forth in Sections 1 or 2 of this Article or where indemnification is ordered by a court in Section 5, any indemnification shall be made by the corporation only as determined in the specific case by a proper group that indemnification of the Proper Person is permissible under the circumstances because he has met the applicable standards of conduct set forth in Section 1 of this Article. This determination shall be made by the board of directors by a majority vote of those present at a meeting at which a quorum is present, which quorum shall consist of directors not parties to the proceeding ("Quorum"). If a Quorum cannot be obtained, the determination shall be made by a majority vote of a committee of the board of directors designated by the board, which committee shall consist of two or more directors not parties to the proceeding, except that directors who are parties to the proceeding may participate in the designation of directors for the committee. If a Quorum of the board of directors cannot be obtained and the committee cannot be established, or even if a Quorum is obtained or the committee is designated and a majority of the directors constituting such Quorum or committee so directs, the determination shall be made by (i) independent legal counsel selected by a vote of the board of directors or the committee in the manner specified in this Section 4 or, if a Quorum of the full board of directors cannot be obtained and a committee cannot be established, by independent legal counsel selected by a majority vote of the full board (including directors who are parties to the action) or (ii) a vote of the shareholders. Authorization of indemnification and advance of expenses shall be made in the same manner as the determination that indemnification or advance of expenses is permissible except that, if the determination that indemnification or advance of expenses is permissible is made by independent legal counsel, authorization of indemnification and advance of expenses shall be made by the body that selected such counsel.

Section 5. COURT-ORDERED INDEMNIFICATION. Any Proper Person may apply for indemnification to the court conducting the proceeding or to another court of competent jurisdiction for mandatory indemnification under Section 2 of this Article, including indemnification for reasonable expenses incurred to obtain court-ordered indemnification. If a court determines that the Proper Person is entitled to indemnification under Section 2 of this Article, the court shall order indemnification, including the Proper Person's reasonable expenses incurred to obtain court-ordered indemnification. If the court determines that such Proper Person is fairly and reasonably entitled to indemnification in view of all the relevant circumstances, whether or not he met the standards of conduct set forth in Section 1 of this Article or was adjudged liable in the proceeding, the court may order such indemnification as the court deems proper except that if the Proper Person has been adjudged liable, indemnification shall be limited to reasonable expenses incurred in connection with the proceeding and reasonable expenses incurred to obtain court-ordered indemnification.

Section 6. ADVANCE OF EXPENSES. Reasonable expenses (including attorneys' fees) incurred in defending an action, suit or proceeding as described in Section 1 may be paid by the corporation to any Proper Person in advance of the final disposition of such action, suit or proceeding upon receipt of (D a written affirmation of such Proper Person's good faith belief that he has met the standards of conduct prescribed by Section 1 of this Article VI, (ii) a written undertaking, executed personally or on the Proper Person's behalf, to repay such advances if it is ultimately determined that he did not meet the prescribed standards of conduct (the undertaking shall be an unlimited general obligation of the Proper Person but need not be secured and may be accepted without reference to financial ability to make repayment), and (iii) a determination is made by the proper group (as described in Section 4 of this Article VI) that the facts as then known to the group would not preclude indemnification. Determination and authorization of payments shall be made in the same manner specified in Section 4 of this Article VI.

Section 7. ADDITIONAL INDEMNIFICATION TO CERTAIN PERSONS OTHER THAN DIRECTORS. In addition to the indemnification provided to officers, employees, fiduciaries or agents because of their status as Proper Persons under this Article, the corporation may also indemnify and advance expenses to them if they are not directors of the corporation to a greater extent than is provided in these bylaws, if not inconsistent with public policy, and if provided for by general or specific action of its board of directors or shareholders or by contract.

Section 8. WITNESS EXPENSES. The sections of this Article VI do not limit the corporation's authority to payer reimburse expenses incurred by a director in connection with an appearance as a witness in a proceeding at a time when he has not been made or named as a defendant or respondent in the proceeding.

Section 9. REPORT TO SHAREHOLDERS. Any indemnification of or advance of expenses to a director in accordance with this Article VI, if arising out of a proceeding by or on behalf of the corporation, shall be reported in writing to the shareholders with or before the notice of the next shareholders' meeting. If the next shareholder action is taken without a meeting at the instigation of the board of directors, such notice shall be given to the shareholders at or before the time the first shareholder signs a writing consenting to such action.

**ARTICLE VII<br> INSURANCE**

Section 1. PROVISION OF INSURANCE. By action of the board of directors, notwithstanding any interest of the directors in the action, the corporation may purchase and maintain insurance, in such scope and amounts as the board of directors deems appropriate, on behalf of any person who is or was a director, officer, employee, fiduciary or agent of the corporation, or who, while a director, officer, employee, fiduciary or agent of the corporation, is or was serving at the request of the corporation as a director, officer, partner, trustee, employee, fiduciary or agent of any other foreign or domestic profit or nonprofit corporation or of any partnership, joint venture, trust, profit or non-profit unincorporated association, limited liability company, other enterprise or employee benefit plan, against any liability asserted against, or incurred by, him in that capacity or arising out of his status as such, whether or not the corporation would have the power to indemnify him against such liability under the provisions of Article VI or applicable law. Any such insurance may be procured from any insurance company designated by the board of directors of the corporation, whether such insurance company is formed under the laws of Nevada or any other jurisdiction of the United States or elsewhere, including any insurance company in which the corporation has an equity interest or any other interest, through share ownership or otherwise.

**ARTICLE VIII**

**MISCELLANEOUS**

Section 1. SEAL. The board of directors may adopt a corporate seal, which shall contain the name of the corporation and the words, "Seal, Nevada."

Section 2. FISCAL YEAR. The fiscal year of the corporation shall be as established by the board of directors.

Section 3. AMENDMENTS. The board of directors shall have power, to the maximum extent permitted by the Nevada General Corporation Law, to make, amend and repeal the bylaws of the corporation at any regular or special meeting of the board unless the shareholders, in making, amending or repealing a particular bylaw, expressly provide that the directors may not amend or repeal such bylaw. The shareholders also shall have the power to make, amend or repeal the bylaws of the corporation at any annual meeting or at any special meeting called for that purpose.

Section 4. RECEIPT OF NOTICES BY THE CORPORATION. Notices, shareholder writings consenting to action, and other documents or writings shall be deemed to have been received by the corporation when they are actually received: (1) at the registered office of the corporation in Nevada; (2) at the principal office of the corporation (as that office is designated in the most recent document filed by the corporation with the secretary of state for Nevada designating a principal office) addressed to the attention of the secretary of the corporation; (3) by the secretary of the corporation wherever the secretary may be found; or (4) by any other person authorized from time to time by the board of directors or the president to receive such writings, wherever such person is found.

Section 5. GENDER. The masculine gender is used in these bylaws as a matter of convenience only and shall be interpreted to include the feminine and neuter genders as the circumstances indicate.

Section 6. CONFLICTS. In the event of any irreconcilable conflict between these bylaws and either the corporation's articles of incorporation or applicable law, the latter shall control.

Section 7. DEFINITIONS. Except as otherwise specifically provided in these bylaws, all terms used in these bylaws shall have the same definition as in the General Corporation Law of Nevada.

## Ex1A-4

**Exhibit 4.1**

**SUBSCRIPTION AGREEMENT**

------

**CBD Life Sciences, Inc.**

**NOTICE TO INVESTORS**

**The securities of CBD Life Sciences, Inc., a Nevada corporation (the "Company"), to which this Subscription Agreement relates, represent an investment that involves a high degree of risk, suitable only for persons who can bear the economic risk for an indefinite period of time and who can afford to lose their entire investments. Investors should further understand that this investment is illiquid and is expected to continue to be illiquid for an indefinite period of time. No public market exists for the securities to which this Subscription Agreement relates.**

**The securities offered hereby have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities or blue sky laws and are being offered and sold in reliance on exemptions from the registration requirements of the Securities Act and state securities or blue sky laws. Although an Offering Statement has been filed with the Securities and Exchange Commission (the "SEC"), that Offering Statement does not include the same information that would be included in a Registration Statement under the Securities Act. The securities offered hereby have not been approved or disapproved by the SEC, any state securities commission or other regulatory authority, nor have any of the foregoing authorities passed upon the merits of the offering to which this Subscription Agreement relates or the adequacy or accuracy of this Subscription Agreement or any other materials or information made available to prospective investors in connection with the offering to which this Subscription Agreement. Any representation to the contrary is unlawful.** 

**The securities offered hereby cannot be sold or otherwise transferred, except in compliance with the Securities Act. In addition, the securities offered hereby cannot be sold or otherwise transferred, except in compliance with applicable state securities or "blue sky" laws. Investors who are not "accredited investors" (as that term is defined in Section 501 of Regulation D promulgated under the Securities Act) are subject to limitations on the amount they may invest, as described in Section 4(g) of this Subscription Agreement.** 

**To determine the availability of exemptions from the registration requirements of the Securities Act as such may relate to the offering to which this Subscription Agreement relates, the Company is relying on each investor's representations and warranties included in this Subscription Agreement and the other information provided by each investor in connection herewith.**

**Prospective investors may not treat the contents of this Subscription Agreement, the Offering Circular or any of the other materials provided by the Company (collectively, the "Offering Materials"), or any prior or subsequent communications from the Company or any of its officers, employees or agents (including "Testing the Waters" materials), as investment, legal or tax advice. In making an investment decision, investors must rely on their own examinations of the Company and the terms of the offering to which this Subscription Agreement relates, including the merits and the risks involved. Each prospective investor should consult such investor's own counsel, accountants and other professional advisors as to investment, legal, tax and other related matters concerning such investor's proposed investment in the Company.**

**The Offering Materials may contain forward-looking statements and information relating to, among other things, the Company, its business plan, its operating strategy and its industries. These forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to, the Company's management. When used in the Offering Materials, the words "estimate," "project," "believe," "anticipate," "intend," "expect" and similar expressions are intended to identify forward-looking statements, which constitute forward looking statements. These statements reflect management's current views with respect to future events and are subject to risks and uncertainties that could cause the Company's actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.**

**SUBSCRIPTION AGREEMENT**

This subscription agreement (the "Subscription Agreement" or the "Agreement") is entered into by and between CBD Life Sciences, Inc., a Nevada corporation (the Company), and the undersigned investor ("Investor"), as of the date set forth on the signature page hereto. Any term used but not defined herein shall have the meaning set forth in the Offering Circular (defined below).

RECITALS

WHEREAS, the Company is offering for sale a maximum of 4,000,000,000 shares of its common stock (the "Offered Shares"), pursuant to Tier 1 of Regulation A promulgated under the Securities Act (the "Offering") at a fixed price of $0.000112 per share (the "Share Purchase Price"), on a best-efforts basis.

WHEREAS, Investor desires to acquire that number of Offered Shares (the "Subject Offered Shares") as set forth on the signature page hereto at the Share Purchase Price.

WHEREAS, the Offering will terminate at the earlier of: (a) the date on which all of the securities offered in the Offering shall have been sold, (b) the date which is one year from the Offering having been qualified by the SEC or (c) the date on which the Offering is earlier terminated by the Company, in its sole discretion (in each case, the "Termination Date").

NOW, THEREFORE, for and in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto do hereby agree as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **INVESTOR INFORMATION** | **INVESTOR INFORMATION** | **INVESTOR INFORMATION** | **INVESTOR INFORMATION** | **INVESTOR INFORMATION** | **INVESTOR INFORMATION** | **INVESTOR INFORMATION** | **INVESTOR INFORMATION** | **INVESTOR INFORMATION** | **INVESTOR INFORMATION** |
| *Name of Investor* | *Name of Investor* | *Name of Investor* | *Name of Investor* | *Name of Investor* | *Name of Investor* | *Name of Investor* | *SSN or EIN* | *SSN or EIN* | *SSN or EIN* |
| *Street Address* | *Street Address* | *Street Address* | *Street Address* | *Street Address* | *Street Address* | *Street Address* | *Street Address* | *Street Address* | *Street Address* |
| *City* | *City* | *City* | *City* | *City* | *State* | *State* | *State* | *State* | *Zip Code* |
| *Phone* | *Phone* | *E-mail* | *E-mail* | *E-mail* | *E-mail* | *State/Nation of Residency* | *State/Nation of Residency* | *State/Nation of Residency* | *State/Nation of Residency* |
| *Name and Title of Authorized Representative, if investor is an entity or custodial account* | *Name and Title of Authorized Representative, if investor is an entity or custodial account* | *Name and Title of Authorized Representative, if investor is an entity or custodial account* | *Name and Title of Authorized Representative, if investor is an entity or custodial account* | *Name and Title of Authorized Representative, if investor is an entity or custodial account* | *Name and Title of Authorized Representative, if investor is an entity or custodial account* | *Name and Title of Authorized Representative, if investor is an entity or custodial account* | *Name and Title of Authorized Representative, if investor is an entity or custodial account* | *Name and Title of Authorized Representative, if investor is an entity or custodial account* | *Name and Title of Authorized Representative, if investor is an entity or custodial account* |
| *Type of Entity or Custodial Account (IRA, Keogh, corporation, partnership, trust, limited liability company, etc.)* | *Type of Entity or Custodial Account (IRA, Keogh, corporation, partnership, trust, limited liability company, etc.)* | *Type of Entity or Custodial Account (IRA, Keogh, corporation, partnership, trust, limited liability company, etc.)* | *Type of Entity or Custodial Account (IRA, Keogh, corporation, partnership, trust, limited liability company, etc.)* | *Type of Entity or Custodial Account (IRA, Keogh, corporation, partnership, trust, limited liability company, etc.)* | *Type of Entity or Custodial Account (IRA, Keogh, corporation, partnership, trust, limited liability company, etc.)* | *Type of Entity or Custodial Account (IRA, Keogh, corporation, partnership, trust, limited liability company, etc.)* | *Type of Entity or Custodial Account (IRA, Keogh, corporation, partnership, trust, limited liability company, etc.)* | *Type of Entity or Custodial Account (IRA, Keogh, corporation, partnership, trust, limited liability company, etc.)* | *Type of Entity or Custodial Account (IRA, Keogh, corporation, partnership, trust, limited liability company, etc.)* |
| *Jurisdiction of Organization* | *Jurisdiction of Organization* | *Jurisdiction of Organization* | *Date of Organization* | *Date of Organization* | *Date of Organization* | *Date of Organization* | *Account Number* | *Account Number* | *Account Number* |
| CHECK ONE: | Individual Investor | Individual Investor | Individual Investor | Custodian Entity | Custodian Entity | Custodian Entity | Custodian Entity | Tenants-in-Common | Tenants-in-Common |
|  | Community Property | Community Property | Community Property | Corporation | Corporation | Corporation | Corporation | Joint Tenants | Joint Tenants |
|  | LLC | LLC | LLC | Partnership | Partnership | Partnership | Partnership | Trust | Trust |

---

*If the Subject Offered Shares are intended to be held as Community Property, as Tenants-In-Common or as Joint Tenancy, then each party (owner) must execute this Subscription Agreement.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. Subscription.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)** Investor hereby irrevocably subscribes for, and agrees to purchase, the Subject Offered Shares set forth on the signature page hereto at the Share Purchase Price, upon the terms and conditions set forth herein. The aggregate purchase price for the Subject Offered Shares subscribed by Investor (the "Purchase Price") is payable to the Company in the manner provided in Section 2(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** Investor understands that the Offered Shares are being offered pursuant to the Offering Statement on Form 1-A, including the Offering Circular dated March 5, 2025, that forms a part thereof, and its exhibits (collectively, the "Offering Circular"), as filed with the SEC. By subscribing for the Subject Offered Shares, Investor acknowledges that Investor has received and reviewed a copy of the Offering Circular and any other information required by Investor to make an investment decision with respect to the Subject Offered Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)** This Subscription Agreement may be accepted or rejected in whole or in part, for any reason or for no reason, at any time prior to the Termination Date, by the Company in its sole and absolute discretion. The Company will notify Investor whether this Subscription Agreement is accepted or rejected. If rejected, Investor's payment shall be returned to Investor without interest and all of Investor's obligations hereunder shall terminate, except for Section 5 hereof, which shall remain in force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d)** The terms of this Subscription Agreement shall be binding upon Investor and Investor's permitted transferees, heirs, successors and assigns (collectively, the "Transferees"); *provided, however*, that for any such transfer to be deemed effective, the proposed Transferee shall have executed and delivered to the Company, in advance, an instrument in form acceptable to the Company in its sole discretion, pursuant to which the proposed Transferee shall acknowledge and agree to be bound by the representations and warranties of Investor and the terms of this Subscription Agreement. No transfer of this Agreement may be made without the consent of the Company, which consent may be withheld by the Company in its sole and absolute discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. Payment and Purchase Procedure.** The Purchase Price shall be paid simultaneously with Investor's delivery of this Subscription Agreement. Investor shall deliver payment of the Purchase Price of the Subject Offered Shares in the manner set forth in Section 8 hereof. Investor acknowledges that, in order to subscribe for Offered Shares, Investor must comply fully with the purchase procedure requirements set forth in Section 8 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. Representations and Warranties of the Company.** The Company represents and warrants to Investor that each of the following is true and complete in all material respects as of the date of this Subscription Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)** the Company is a corporation duly formed, validly existing and in good standing under the laws of the State of Nevada. The Company has all requisite power and authority to own and operate its properties and assets, to execute and deliver this Subscription Agreement, the Subject Offered Shares and any other agreements or instruments required hereunder. The Company is duly qualified and is authorized to do business and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes such qualification necessary, except for those jurisdictions in which failure to do so would not have a material adverse effect on the Company or its business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** The issuance, sale and delivery of the Subject Offered Shares in accordance with this Subscription Agreement have been duly authorized by all necessary corporate action on the part of the Company. The Subject Offered Shares, when issued, sold and delivered against payment therefor in accordance with the provisions of this Subscription Agreement, will be duly and validly issued, fully paid and non-assessable; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)** the acceptance by the Company of this Subscription Agreement and the consummation of the transactions contemplated hereby are within the Company's powers and have been duly authorized by all necessary corporate action on the part of the Company. Upon the Company's acceptance of this Subscription Agreement, this Subscription Agreement shall constitute a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except (1) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors' rights and (2) as limited by general principles of equity that restrict the availability of equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. Representations and Warranties of Investor.** Investor represents and warrants to the Company that each of the following is true and complete in all material respects as of the date of this Subscription Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) Requisite Power and Authority.** Investor has all necessary power and authority under all applicable provisions of law to execute and deliver this Subscription Agreement and to carry out the provisions hereof. Upon due delivery hereof, this Subscription Agreement will be a valid and binding obligation of Investor, enforceable in accordance with its terms, except (1) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors' rights and (2) as limited by general principles of equity that restrict the availability of equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Company Offering Circular; Company Information.** Investor acknowledges the public availability of the Offering Circular which can be viewed on the SEC Edgar Database, under CIK number 0001776073, and that Investor has reviewed the Offering Circular. Investor acknowledges that the Offering Circular makes clear the terms and conditions of the Offering and that the risks associated therewith are described. Investor has had an opportunity to discuss the Company's business, management and financial affairs with directors, officers and management of the Company and has had the opportunity to review the Company's operations and facilities. Investor has also had the opportunity to ask questions of, and receive answers from, the Company and its management regarding the terms and conditions of the Offering. Investor acknowledges that, except as set forth herein, no representations or warranties have been made to Investor, or to any advisor or representative of Investor, by the Company with respect to the business or prospects of the Company or its financial condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) Investment Experience; Investor Suitability.** Investor has sufficient experience in financial and business matters so as to be capable of evaluating the merits and risks of an investment in the Offered Shares, and to make an informed decision relating thereto. Alternatively, Investor has utilized the services of a purchaser representative and, together, they have sufficient experience in financial and business matters so as to be capable of evaluating the merits and risks of an investment in the Offered Shares, and to make an informed decision relating thereto. Investor has evaluated the risks of an investment in the Offered Shares, including those described in the section of the Offering Circular entitled "Risk Factors", and has determined that such an investment is suitable for Investor. Investor has adequate financial resources for an investment of this character. Investor is capable of bearing a complete loss of Investor's investment in the Offered Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) No Registration.** Investor understands that the Offered Shares are not being registered under the Securities Act, on the ground that the issuance thereof is exempt under Regulation A promulgated under the Securities Act, and that reliance on such exemption is predicated, in part, on the truth and accuracy of Investor's representations and warranties, and those of the other purchasers of the Offered Shares in the Offering.

Investor further understands that the Offered Shares are not being registered under the securities laws of any state, on the basis that the issuance thereof is exempt as an offer and sale not involving a registrable public offering in such state.

Investor covenants not to sell, transfer or otherwise dispose of any Offered Shares, unless such Offered Shares have been registered under the Securities Act and under applicable state securities laws, or exemptions from such registration requirements are available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) Illiquidity and Continued Economic Risk.** Investor acknowledges and agrees that there is a limited public market for the Offered Shares and that there is no guarantee that a market for their resale will continue to exist. Investor must, therefore, bear the economic risk of the investment in the Subject Offered Shares indefinitely and Investor acknowledges that Investor is able to bear the economic risk of losing Investor's entire investment in the Subject Offered Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f) Investor Status.** Investor represents that either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)** Investor has a minimum annual gross income of $70,000 and a minimum net worth of $70,000, exclusive of automobile, home and home furnishings; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)** Investor has a minimum net worth of $250,000, exclusive of automobile, home and home furnishings.

Investor represents that, to the extent Investor has any questions with respect to Investor's satisfying the standards set forth in subparagraphs (1) and (2), Investor has sought professional advice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g) Investor Information.** Within five (5) days after receipt of a request from the Company, Investor hereby agrees to provide such information with respect to Investor's status as a Company shareholder and to execute and deliver such documents as may reasonably be necessary to comply with any and all laws and regulations to which the Company is, or may become, subject, including, without limitation, the need to determine the accredited investor status of the Company's shareholders. Investor further agrees that, in the event Investor transfers any Offered Shares, Investor will require the transferee of any such Offered Shares to agree to provide such information to the Company as a condition of such transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(h) Valuation; Arbitrary Determination of Share Purchase Price by the Company.** Investor acknowledges that the Share Purchase Price of the Offered Shares in the Offering was set by the Company on the basis of the Company's internal valuation and no warranties are made as to value. Investor further acknowledges that future offerings of securities of the Company may be made at lower valuations, with the result that Investor's investment will bear a lower valuation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i) Domicile.** Investor maintains Investor's domicile (and is not a transient or temporary resident) at the address provided herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(j) Foreign Investors.** If Investor is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended), Investor hereby represents that Investor is in full compliance with the laws of Investor's jurisdiction in connection with any invitation to subscribe for the Offered Shares or any use of this Subscription Agreement, including, without limitation, (1) the legal requirements within Investor's jurisdiction for the purchase of the Subject Offered Shares, (2) any foreign exchange restrictions applicable to such purchase, (3) any governmental or other consents that may need to be obtained, and (4) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Subject Offered Shares. Investor's subscription and payment for and continued beneficial ownership of the Subject Offered Shares will not violate any applicable securities or other laws of Investor's jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(k) Fiduciary Capacity.** If Investor is purchasing the Subject Offered Shares in a fiduciary capacity for another person or entity, including, without limitation, a corporation, partnership, trust or any other juridical entity, Investor has been duly authorized and empowered to execute this Subscription Agreement and all other related documents. Upon request of the Company, Investor will provide true, complete and current copies of all relevant documents creating Investor, authorizing Investor's investment in the Company and/or evidencing the satisfaction of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. Indemnity.** The representations, warranties and covenants made by Investor herein shall survive the consummation of this Subscription Agreement. Investor agrees to indemnify and hold harmless the Company and its officers, directors and agents, and each other person, if any, who controls the Company within the meaning of Section 15 of the Securities Act, against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all reasonable attorneys' fees, including attorneys' fees on appeal) and expenses reasonably incurred in investigating, preparing or defending against any false representation or warranty or breach of failure by Investor to comply with any covenant or agreement made by Investor herein or in any other document furnished by Investor to any of the foregoing in connection with the transaction contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. Governing Law; Jurisdiction.** This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada, applicable to agreements made in and wholly to be performed in that jurisdiction with regards to the choice of law rules of such state, except for matters arising under the Securities Act or the Securities Exchange Act of 1934, which matters shall be construed and interpreted in accordance with such laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. Notices.** Notice, requests, demands and other communications relating to this Subscription Agreement and the transactions contemplated herein shall be in writing and shall be deemed to have been duly given if and when (a) delivered personally, on the date of such delivery; or (b) mailed by registered or certified mail, postage prepaid, return receipt requested, in the third day after the posting thereof; or (c) e-mailed on the date of such delivery to the address of the respective parties as follows, if to the Company, to CBD Life Sciences, Inc., 10953 N. Frank Lloyd Boulevard, Suite 108, Scottsdale, Arizona 85259, Attention: Lisa Nelson, Chief Executive Officer. If to Investor, at Investor's address supplied in connection herewith, or to such other address as may be specified by written notice from time to time by the party entitled to receive such notice. Any notices, requests, demands or other communications by email shall be confirmed by letter given in accordance with (a) or (b) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. Purchase Procedure.** Investor acknowledges that, in order to subscribe for the Subject Offered Shares, Investor must, and Investor does hereby, deliver (in a manner described below) to the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)** a single executed counterpart of the Subscription Agreement, which shall be delivered to the Company either by (1) physical delivery to: CBD Life Sciences, Inc., Attention: Lisa Nelson, Chief Executive Officer, 10855 N. Frank Lloyd Boulevard, Suite 108, Scottsdale, Arizona 85259; (2) e-mail to: lisalbcbioscience@gmail.com; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** payment of the Purchase Price, which shall be delivered in the manner set forth in Annex I attached hereto and made a part hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. Miscellaneous.** All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural, as the identity of the person or persons or entity or entities may require. Other than as set forth herein, this Subscription Agreement is not transferable or assignable by Investor. The representations, warranties and agreements contained herein shall be deemed to be made by, and be binding upon, Investor and Investor's heirs, executors, administrators and successors and shall inure to the benefit of the Company and its successors and assigns. None of the provisions of this Subscription Agreement may be waived, changed or terminated orally or otherwise, except as specifically set forth herein or except by a writing signed by the Company and Investor. In the event any part of this Subscription Agreement is found to be void or unenforceable, the remaining provisions are intended to be separable and binding with the same effect as if the void or unenforceable part were never in this Subscription Agreement. This Subscription Agreement supersedes all prior discussions and agreements between the Company and Investor, if any, with respect to the subject matter hereof and contains the sole and entire agreement between the Company and Investor with respect to the subject matter hereof. The terms and provisions of this Subscription Agreement are intended solely for the benefit of each party hereto and their respective successors and assigns, and it is not the intention of the parties to confer, and no provision hereof shall confer, third-party beneficiary rights upon any other person. The headings used in this Subscription Agreement have been inserted for convenience of reference only and do not define or limit the provisions hereof. In the event that either party hereto shall commence any suit, action or other proceeding to interpret this Subscription Agreement, or determine to enforce any right or obligation created hereby, then such party, if it prevails in such action, shall recover its reasonable costs and expenses incurred in connection therewith, including, but not limited to, reasonable attorneys' fees and expenses and costs of appeal, if any. All notices and communications to be given or otherwise made to Investor shall be deemed to be sufficient if sent by e-mail to such address provided by Investor herein. Unless otherwise specified in this Subscription Agreement, Investor shall send all notices or other communications required to be given hereunder to the Company via e-mail at lisalbcbioscience@gmail.com. Any such notice or communication shall be deemed to have been delivered and received on the first business day following that on which the e-mail has been sent (assuming that there is no error in delivery). As used in this Section 9, the term "business day" shall mean any day other than a day on which banking institutions in the State of Nevada are legally closed for business. This Subscription Agreement may be executed in one or more counterparts. No failure or delay by any party in exercising any right, power or privilege under this Subscription Agreement shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.

**Investor certifies that Investor has read this entire Subscription Agreement and that every statement made by Investor herein is true and complete.**

**The Company may not be offering the Offered Shares in every state. The Offering Materials do not constitute an offer or solicitation in any state or jurisdiction in which the Offered Shares are not being offered. The information presented in the Offering Materials was prepared by the Company solely for the use by prospective investors in connection with the Offering. Nothing contained in the Offering Materials is or should be relied upon as a promise or representation as to the future performance of the Company.**

**The Company reserves the right, in its sole discretion and for any reason whatsoever, to modify, amend and/or withdraw all or a portion of the Offering and/or accept or reject, in whole or in part, for any reason or for no reason, any prospective investment in the Offered Shares. Except as otherwise indicated, the Offering Materials speak as of their date. Neither the delivery nor the purchase of the Offered Shares shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since that date.**

[ SIGNATURE PAGE FOLLOWS ]

IN WITNESS WHEREOF, the undersigned has executed this Subscription Agreement on the date set forth below.

Dated: _______________________.

---

| | | | |
|:---|:---|:---|:---|
| **INDIVIDUAL INVESTOR** | **INDIVIDUAL INVESTOR** | **INDIVIDUAL INVESTOR** | **INDIVIDUAL INVESTOR** |
| | *(Signature)* | *(Signature)* | *(Subscription Amount)* |
| | *(Printed Name)* | *(Printed Name)* | *(Number of Offered Shares Subscribed)* |
| **CORPORATION/LLC/TRUST INVESTOR** | **CORPORATION/LLC/TRUST INVESTOR** | **CORPORATION/LLC/TRUST INVESTOR** | **CORPORATION/LLC/TRUST INVESTOR** |
| | | *(Name of Corporation/LLC/Trust)* | *(Subscription Amount)* |
| | *(Signature)* | *(Signature)* | |
| | | | *(Number of Offered Shares Subscribed)* |
| | *(Printed Name)* | *(Printed Name)* |  |
| | *(Title)* | *(Title)* |  |
| **PARTNERSHIP INVESTOR** | **PARTNERSHIP INVESTOR** | **PARTNERSHIP INVESTOR** | **PARTNERSHIP INVESTOR** |
| |  |  | <br> $ |
| | *(Name of Partnership)* | *(Name of Partnership)* | *(Subscription Amount)* |
| | *(Signature)* | *(Signature)* | |
| | | | *(Number of Offered Shares Subscribed)* |
| | *(Printed Name)* | *(Printed Name)* |  |
| | *(Title)* | *(Title)* |  |
| **COMPANY ACCEPTANCE** | **COMPANY ACCEPTANCE** | **COMPANY ACCEPTANCE** | **COMPANY ACCEPTANCE** |

---

The foregoing subscription for _____________________ Offered Shares, a Subscription Amount of

$_____________________ is hereby accepted on behalf of CBD Life Sciences, Inc., a Nevada corporation,

this _____ day of ________, 202__.

CBD LIFE SCIENCES, INC.

By: **_______________________**

Lisa Nelson

CEO

## Ex1A-6

**Exhibit 6.1**

**CBD Life Sciences, Inc.**

**INCENTIVE STOCK OPTION PLAN**

**Plan Summary**

**______**

The plan provides that an aggregate of up to 25,000,000 shares of the Company's Common Stock may be optioned to officers and other key employees. The plan provides authority for a Stock Option Plan Committee to select the employees of the Company, and its subsidiaries, to whom incentive stock options will be granted. No person may be granted any option unless he agrees to remain an employee of the Company for at least two years. There are approximately three officers and directors of the Company plus other key employees eligible to receive options under the plan. All officers may participate in the plan.

Following the statutory requirements of new Code 422A, the plan provides that the Committee may establish the purchase price of the stock at the time the option is granted. However, the purchase price may not be less than 100 percent of the fair market value of the Company's Common Stock. The aggregate fair market value of the stock for which any employee may be granted options in any calendar year shall not exceed $100,000 plus any unused limit carried over (as defined in Plan 3(d)) to such year from any prior calendar year beginning on or after April 1, 2018 .

The plan terminates ten years from its effective date. All new options to be granted are nontransferable. The Company is to receive no cash consideration for granting options under the plan. However, when an option is exercise, the holder is required to pay the option price, in cash or certified bank check, shares of the Company's Common Stock or in any combination of the above, for the number of shares of stock to be issued on exercise of the option unless the holder elects to receive cash or stock by exercise of stock appreciation rights.

Under the plan, a Stock Appreciation Right (SAR) permits the holder of an option to elect to receive cash or a lesser amount of stock without payment, upon exercise of an option. The amount of cash receivable is the difference between the option price stated in the option and the fair market value of the Common Stock on the date of the exercise. The lesser number of shares receivable is the number of shares which could be purchased with the cash receivable. An important distinction between the exercise of an incentive stock option and the exercise of a SAR is that, upon the exercise of an SAR, the option holder need not pay the option price in cash. The shares or cash received by an optionee upon exercising an SAR, however, are subject to tax under Section 83.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Purpose of the Plan

This Incentive Stock Option Plan (hereinafter called the "Plan") for CBD Life Sciences, Inc. (hereinafter called the "Company") is intended to advance the interests of the Company by providing officers and other key employees who have substantial responsibility for the direction and management of the Company with additional incentive to promote the success of the business, to increase their proprietary interest in the success of the Company, and to encourage them to remain in its employ. The above aims will be effectuated through the granting of certain stock options. It is intended that options issued under the Plan and designated by the Committee under Section 3(b) will qualify as Incentive Stock Options (hereinafter called "ISOs") under Section 422A of the Internal Revenue Code and the terms of the Plan shall be interpreted in accordance with this intention.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Administration of the Plan

The Board of Directors shall appoint a Stock Option Plan Committee (hereinafter called the "Committee") which shall consist of not less than three (3) members, at least one of whom shall be a Director of the Company. Subject to the provisions of the Plan, the Committee shall have plenary authority, in its discretion: (a) to determine the employees of the Company and its subsidiaries (from among the class of employees eligible under Section 3 to receive options under the Plan) to whom options shall be granted; (b) to determine the time or times at which options shall be granted; (c) to determine the option price of the shares subject to each option, which price shall not be less than the minimum specified in Section 5; (d) to determine (subject to Section 7) the time or times when each option shall become exercisable and the duration of the exercise period; and (e) to interpret the Plan and to prescribe, amend, and rescind rules and regulations relating to it. The Board may from time to time appoint members of the Committee in substitution for members previously appointed and may fill vacancies, however caused, in the Committee; provided, however, that at all times at least one member shall be a Director of the Company. The Committee shall select one of its members as its Chairman and shall hold its meetings at such times and places as it shall deem advisable. All action of the Committee shall be taken by unanimous vote of its members. Any action may be taken by a written instrument signed by all the members of the Committee, and action so taken shall be fully as effective as if it had been taken by a unanimous vote of the members at a meeting duly called and held. The Committee may appoint a secretary to keep minutes of its meetings and shall make rules and regulations for the conduct of its business, as it shall deem advisable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Eligibility and Limitations on Options Granted Under the Plan

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Options will be granted only to persons who are key employees of the Company or a subsidiary corporation of the Company who agree, in writing, to remain in the employ of, and render services to, the Company or a subsidiary corporation of the Company for a period of at least two (2) years from the date of the granting of the option. The term "key employees" shall include officers, directors, executives, and supervisory personnel, as well as other employees of the Company or a subsidiary corporation of the Company. The term "Subsidiary Corporation" shall, for the purposes of this Plan be defined in the same manner as such term is defined in Section 425 (f) of the Internal Revenue Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At the time of the grant of each option under this Plan, the Committee shall determine whether such option is to be designated as an ISO. If an option is to be so designated as an ISO, then the provisions of Section 7(d) of this Plan shall be made applicable to such option. In addition, no option granted to any employee, who at the time of such grant, owns stock possessing more than 10 percent of the total combined voting power of all classes of stock of the Company or any of its subsidiaries, may be designated as an ISO, unless at the time of such grant, the option price is fixed at not less than 110 percent of the fair market value of the stock subject to the option, and exercise of such option is prohibited by its terms after the expiration of five (5) years from the date such is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The aggregate fair market value of the stock for which any employee may be granted options designated as ISOs in any calendar year (under this or any other stock option plan established by the Company or a subsidiary corporation of the Company) shall not exceed $100,000 plus any unused limit carryover (as defined in 3(d) hereof) to such year from any prior calendar year beginning on or after April 1, 2018.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The unused limit carryover from any such calendar year shall be one-half of any excess of $100,000 over the aggregate fair market value of the stock for which an employee was granted options that qualify (whether from their issuance or as a result of subsequent amendment and election by the Company) as ISOs in any such calendar year (under this and all other stock option plans established by the Company or a subsidiary corporation of the Company). The unused limit for any calendar year shall be carried forward for three (3) years. ISOs granted in any year shall be applied against the current year limitation first and then against the remaining unused limit carryovers to such year in the order of the calendar year in which the carryovers arose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Shares of Stock Subject to the Plan

There will be reserved for use upon the exercise or options to be granted from time to time under the Plan (subject to the provisions of Section 12) an aggregate of 25,000,000 shares of the Common Stock of the $.0.0001 par value common stock (hereinafter called the "Common Stock") of the Company, which shares may be in whole or in part, as the Board of Directors of the Company (hereinafter called the "Board") shall from time to time determine, authorized but unissued shares of the Common Stock or issued shares of the Common Stock which shall have been reacquired by the Company. Any shares subject to an option under the Plan, which option for any reason expires or is terminated unexercised as to such shares, may again be subject to an option under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Option Price

The purchase price under each option issued shall be determined by the Committee at the time the option is granted, but in no event shall such purchase price be less than 100 percent of the fair market value of the Company's Common Stock on the date of grant.

The term "fair market value" shall be defined as either the average of the highest offer and lowest bid market price of said Common Stock on any public market if the stock of the Company is publicly traded, as of the date of the grant of the option, or, if there be no sales on such date, on the most recent date upon which such stock was traded, or if there is no market for the Common Stock of the Company, the book value of the Common Stock as of the end of the most recent preceding month as given on the books of the Company applying generally accepted accounting principles on a consistent basis giving effect to all accruals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Dilutions or Other Agreement

In the event that additional shares of Common Stock are issued pursuant to a stock split or a stock dividend, the number of shares of Common Stock then covered by each outstanding option granted hereunder shall be increased proportionately with no increase in the total purchase price of the shares then so covered, and the number of shares of Common Stock reserved for the purpose of the Plan shall be increased by the same proportion. In the event that the shares of Common Stock of the Company from time to time issued and outstanding are reduced by a combination of shares, the number of shares of Common Stock then covered by each outstanding option granted hereunder shall be reduced proportionately with no reduction in the total price of the shares then so covered, and the number of shares of Common Stock reserved for the purposes of the Plan shall be reduced by the same proportion. In the event that the Company should transfer assets to another corporation and distribute the stock of such other corporation without the surrender of Common Stock of the Company, and if such distribution is not taxable as a dividend and no gain or loss is recognized by reason of Section 355 of the Internal Revenue Code of 1954, or some similar section, then the total purchase price of the shares covered by each outstanding option shall be reduced by an amount which bears the same ratio to the total purchase price then in effect as the market value of the stock distributed in respect of a share of the Common Stock of the Company, immediately following the distribution, bears to the aggregate of the market value at such time of a share of the Common Stock of the Company and the stock distributed in respect thereof. All such adjustments shall be made by the Committee, whose determination upon the same shall be final and binding upon the optionees. No fractional shares shall be issued, and any fractional shares resulting from the computations pursuant to this Section 6 shall be eliminated from the respective option. No adjustment shall be made for cash dividends or the issuance to stockholders of rights to subscribe for additional Common Stock or other securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Period of Option and Certain Limitations on Right to Exercise

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All options issued under the Plan shall be for such period, as the Committee shall determine, but for not more than ten (10) years from the date of grant thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The period of the option, once it is granted, may be reduced only as provided for in Section 9 in connection with the termination of employment or death of the optionee or in Section 7(c) in the case of less than satisfactory performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each option granted under this Plan shall become exercisable only after two (2) years continued employment of the optionee with the Company or a subsidiary corporation of the Company immediately following the date the option is granted. Any option designated as an ISO shall be exercisable in full, or as to any part thereof, at any time after the expiration of two (2) years following the date such option is granted, but only if the optionee chooses to exercise such option and to pay for such option in the manner set forth in Section 7(e) hereof (i.e., in cash or certified check or shares of the Company's Common Stock, or any combination of the foregoing in an amount equal to the full option price of the shares being purchased). Any option not designated as an ISO and any option designated as an ISO that the optionee chooses to exercise in any manner other than that permitted in the preceding sentence, shall be exercisable only to the extent of one-fifth of the total number of optioned shares after the expiration of two (2) years following the date the option is granted only to the extent of two-fifths of the total number of optioned shares after the expiration of three (3) years following the date the option is granted, only to the extent of three-fifths of the total number of optioned shares after the expiration of four (4) years following the date the option is granted, only to the extent of four-fifths of the total number of optioned shares after the expiration of five (5) years following the date the option is granted, and in full only after the expiration of six (6) years following the date the option is granted, such limitations being calculated, in the case of any resulting fraction, to the nearest lower number of shares.

Notwithstanding the foregoing, the Committee may, in its sole discretion, (i) prescribe longer time periods and additional requirements with respect to the exercise of an option and (ii) terminate in whole or in part such portion of any option as has yet become exercisable at the time of termination if it determines that the optionee is not performing satisfactorily the duties to which he was assigned on the date the option was granted or duties of at least equal responsibility. No option may be exercised unless the optionee is at the time of such exercise in the employ of the Company or of a subsidiary corporation of the Company and shall have been continuously so employed since the grant of his option. Absence or leave approved by the management of the Company shall not be considered an interruption of employment for any purpose under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) No option granted by the Committee as an ISO may be exercised while there is outstanding in the hands of the optionee any ISO (whether granted under this Plan or any other stock option plan established by the Company or a subsidiary of the Company) which was granted before the granting of the ISO hereunder sought to be exercised. For purposes of this Section 7(d), any ISO shall be treated as outstanding until exercised in full or expired.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Subject to the alternative settlement methods set forth in Section 7(h) hereof, the exercise of any option shall also be contingent upon receipt by the Company of cash or certified check to its order, shares of the Company's Common Stock, or any combination of the foregoing in an amount equal to the full option price of the shares being purchased. For purposes of this paragraph, shares of the Company's Common Stock that are delivered in payment of the option price shall be valued at their fair market value determined under the method set forth in Section 5 of this Plan applied as of the date of the exercise of the option. However, in order to facilitate the accumulation of funds to enable employees to exercise their option, they will have the right, if they so elect, to direct the Company or a subsidiary corporation of the Company to withhold from their compensation regular amounts to be applied toward the exercise of the options. Funds credited to the stock option accounts will be under the control of the Company until applied to the payment of the option price at the direction of the employee or returned to the employee in the event the amount is not used for purchase of shares under option, and all funds received or held by the Company under the Plan may be used for any corporate purpose, and no interest shall be payable to a participant on account of any amount held. Such amounts may be withdrawn by the participant at any time, in whole or in part, for any purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) No optionee or his legal representative or distributees, as the case may be, will be deemed to be a holder of any share subject to an option unless and until certificates for such shares are issued to him or them under the terms of the Plan. No adjustment shall be made for dividends or other rights for which the record date is prior to the date such stock certificate is issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) In no event may an option be exercised after the expiration of its term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) As an alternative to payment in full by the optionee for the number of shares of Common Stock in respect of which an option is exercised, the Committee may provide alternative settlement methods as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Committee, in its discretion, may provide in the initial grant of any option, that the optionee may elect either of the alternative settlement methods set forth in subsection (ii) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The alternative settlement methods are for the optionee, upon exercise of the option, to receive from the Company: (1) cash in an amount equal to the excess of the value of one share over the option price times the number of shares as to which the option is exercised; or (2) the number of whole shares of Common Stock having an aggregate value not greater than the cash amount calculated under Section 7(h)(ii)(1). For purposes of determining an alternative settlement, the value per share shall be the "Fair market value" determined under the method set forth in Section 5 hereof, applied as of the date of the exercise of the option, or such other price as the Committee shall determine to be the fair market value of the Common Stock on the date of exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) An election of any of the alternative settlement methods provided for under Section 7 (h)(ii) shall be binding on the optionee, when made. The optionee may elect to what extent the alternative settlement method elected shall be paid in cash, in Common Stock, or partially in Common Stock, provided that the aggregate value of the payments shall not be greater than the cash amount calculated under Section 7 (h)(ii)(1). No fractional shares of Common Stock shall be issued, and the Committee shall determine whether cash shall be paid in lieu of such fractional share interest or whether such fractional share interest shall be eliminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The alternative settlement methods provided above in Section 7(h)(ii) shall not be available unless the cash amount calculated thereunder shall be positive, i.e. when the value of one share shall exceed the option price per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Exercise of an option in any manner, including an exercise involving an election of an alternative settlement method with respect to an option, shall result in a decrease in the manner of shares of Common Stock which thereafter may be available under the Plan by the number of shares as to which the option is exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To the extent that the exercise of options by one of the alternative settlement methods provided for in Section (h)(ii) results in compensation income to the optionee, the Company will withhold from the amount due to the optionee utilizing such alternative settlement method, an appropriate amount for federal, state and local taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Assignability

Each option granted under this Plan shall be transferable only by will or the laws of descent and distribution and shall be exercisable, during his lifetime, only by the employee to whom the option is granted. Except as permitted by the preceding sentence, no option granted under the Plan or any of the rights and privileges thereby conferred shall be transferred, assigned, pledged, or hypothecated in any way (whether by operation of law or otherwise), and no such option, right, or privilege shall be subject to execution, attachment, or similar process. Upon any attempt to so transfer, assign, pledge, hypothecate, or otherwise dispose of the option, or of the right or privilege conferred thereby, contrary to the provisions hereof, or upon the levy of any attachment or similar process upon such option, right of privilege, the option and such rights and privileges shall immediately become null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Effect of Termination of Employment. Death or Disability

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event of the termination of employment if an optionee during the two (2) year period after the date of issuance of an option to him either by reason of (i) a discharge for cause or (ii) voluntary separation on the part of the optionee and without consent of his employing company or companies, any option or options theretofore granted to him under this Plan to the extent not theretofore exercised by him shall forthwith terminate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event of the termination of employment of an optionee (otherwise than by reason of death or retirement of the optionee at his Retirement Date by the Company or by any subsidiary corporation of the Company employing the optionee at such time), any option or options granted to him under the Plan to the extent not theretofore exercised shall be deemed cancelled and terminated forthwith, except that, subject to the provisions of section (a) of this Section, such optionee may exercise any options theretofore granted to him, which have not then expired and which are otherwise exercisable within the provisions of Section 7(c) hereof, within three (3) months after such termination. If the employment of an optionee shall be terminated by reason of the optionee's retirement at his Retirement Date by the Company or by any subsidiary corporation of the Company employing the optionee at such time, the optionee shall have the right to exercise such option or options held by him to the extent that such options have not expired, at any time within three (3) months after such retirement. The provisions of Section 7(c) to the contrary notwithstanding, upon retirement, all options held by an optionee shall be immediately exercisable in full. The transfer of an optionee from the employ of the Company to a subsidiary corporation of the Company or vice versa, or from one subsidiary corporation of the Company to another, shall not be deemed to constitute a termination of employment for purposes of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event that an optionee shall die while employed by the Company or any subsidiary corporation of the Company or shall die within three (3) months after retirement at his Retirement Date (by the Company or by any subsidiary corporation of the Company) any option or options granted to him under this Plan and not theretofore exercised by him or expired shall be exercisable by the estate of the optionee or by any person who acquired such option by bequest or inheritance at any time within one (1) year after the death of the optionee. References hereinabove to the optionee shall be deemed to include any person entitled to exercise the option after the death of the optionee under the terms of this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In the event of the termination of employment of an optionee by reason of the optionee's disability, the optionee shall have the right, notwithstanding the provisions of Section 7(c) hereof, to exercise all options held by him, to the extent that options have not previously expired or been exercised, at any time within one (1) year after such termination. The term "disability" shall, for the purposes of this Plan, be defined in the same manner as such term is defined in Section 105(d)(4) of the Internal Revenue Code of 1954.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) For the purposes of this Plan, "Retirement Date" shall mean any date an employee is otherwise entitled to retire under the Company's retirement plans, if any, and shall include normal retirement at age 65, early retirement at age 62, and retirement at age 60 after 30 years of service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Listing and Registration of Shares

Each option shall be subject to the requirement that if at any time the Stock Option Committee shall determine, in its discretion, that the listing, registration, or qualification of the shares covered thereby upon any securities exchange or under any state or federal law or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition of, or in connection with, the granting of such option or the issue or purchase of shares thereunder, such option may not be exercised in whole or in part unless and until such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not acceptable to the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Expiration and Termination of the Plan

Options may be granted under the Plan at any time or from time to time as long as the total number of shares optioned or purchased under this Plan does not exceed 25,000,000 shares of Common Stock. The Plan may be abandoned or terminated at any time by the Board of Directors of the Company except with respect to any options then outstanding under the Plan. No option shall be granted pursuant to the Plan after ten (10) years from the effective date of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Amendment of Plan

The Board of Directors may at any time and from time to time modify and amend the Plan (including such form of option agreement) in any respect; provided, however, that no such amendment shall: (a) increase (except in accordance with Section 6) the maximum number of shares for which options may be granted under the Plan either in the aggregate or to an individual employee; or (b) reduce (except in accordance with Section 6) the minimum option prices which may be established under the Plan; or (c) extend the period or periods during which options may be granted or exercised; or (d) change the provisions relating to the determination of employees to whom options shall be granted and the number of shares to be covered by such options; or (e) change the provisions relating to adjustments to be made upon changes in capitalization; or (f) change the method for selection of the Committee as provided by Section 2 hereof. The termination or any modification or amendment of the Plan shall not, without the consent of an employee, affect his rights under an option theretofore granted to him.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. Applicability of Plan to Outstanding Stock Options

The Plan shall not affect the terms and conditions of any non-qualified stock options heretofore granted to any employee of the Company or a subsidiary corporation of the Company under any other plan relating to non-qualified stock options; nor shall it affect any of the rights of any employee to whom such a non-qualified stock option was granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Effective Date of Plan

This Plan shall become effective on the date of its adoption by the Board of Directors or the Company or its approval by the vote of the shareholders of a majority of the outstanding shares of the Company's common stock. This Plan shall not become effective unless such shareholder approval shall be obtained within twelve (12) months before or after the adoption of the Plan by the Directors.

**CBD Life Sciences, Inc.**

**PRESIDENT'S LETTER TO STOCKHOLDERS**

Dear Stockholder:

I am enclosing this letter with the notice of call of a special meeting of the stockholders of the Corporation as a means of explaining briefly the purpose of the meeting. Your Board of Directors has unanimously recommended that the Corporation adopt a stock option plan allowing the purchase of a limited number of the Corporation's shares of common stock by key management employees of the Corporation. This proposal has been adopted by the Board of Directors, subject to the approval of the holders of the Corporation's common stock, and I have been directed to set forth to you the reasons for their action.

In the past several years, plans or programs offering stock participation opportunities to management personnel have become widespread among American businesses. This meaningful trend has come about in response to a realization that the best efforts of the best executives are more surely secured when the executives have a personal stake in the fortunes of their corporate employers. I might add that a number of our major competitors have instituted stock acquisition programs of one type or another for their executive employees, and we in charge of the Corporation are aware of the importance of such programs in attracting and holding employees of the caliber we want in our Corporation.

In judgment of the Directors, your Corporation can best be assured of success in enlisting and retaining top management employees only if these employees are given the opportunity to acquire a proprietary stake in the success of the Corporation. Consequently, the Directors have examined methods of achieving this goal, and have determined that the best approach for the Corporation is that of offering certain stock options known as "Incentive Stock Options," which satisfy the tests imposed by the Internal Revenue Code for such designation. Specifically, the Directors' proposal is that a total of _________,000 unissued shares of the value common stock of the Corporation be sold to executive employees under options that fix the purchase price at percent of the market price on the date such an option is granted. The particular employees to be given these options, and the number of shares covered by each option, would be left to the decision of the Board of Directors or of a special committee chosen from the Board. However, in no event would the total number of shares placed under option exceed the total of __,000,000 which would be somewhat less than 10 percent of the total number of common shares to be outstanding once these optioned shares are issued on a fully diluted basis.

The Directors wish to take this step only after full information has been given to all the stockholders affected, and their understanding and approval of this plan has been expressed. For this reason, though I have set forth in this letter what I believe to be a proper summary of the principal points involved, I have instructed the Secretary of the Corporation to mail a copy of the full stock plan and of the relevant Directors' resolutions to any stockholder requesting it.

**CBD Life Sciences, Inc.**

**NOTICE OF EXERCISE OF STOCK OPTION AND**

**RECORD OF STOCK TRANSFER**

I hereby exercise my Incentive Stock Option granted by CBD Life Sciences, Inc., subject to all the terms and provisions thereof and of the Employee Stock Option Plan referred to therein, and notify you of my desire to purchase shares of Common Stock of the Company which were offered to me pursuant to said Option. Enclosed is my check in the sum of in full payment for such shares.

I hereby represent that the __________ shares of Common Stock to be delivered to me pursuant to the above-mentioned exercise of the Option granted to me on are being acquired by me as an investment and not with a view to, or for sale in connection with, the distribution of any thereof.

DATED: , 20__.

_________________________

Employee's Signature

Receipt is hereby acknowledged of the delivery to me by CBD Life Sciences, Inc. on of stock certificates for shares of Common Stock purchased by me pursuant to the terms and conditions of the Employee Stock Option Plan referred to above, which shares were transferred to me on the Company's stock record books on.

_________________________

Employee

**CBD Life Sciences, Inc.**

**NOTICE OF GRANT OF INCENTIVE STOCK OPTION**

[date]

[name of employee]

Dear ______:

At the direction of the Board of Directors of the Corporation, you are hereby notified that the Board has granted to you an option, pursuant to the Employee Stock Option Plan adopted by the Corporation on June ____, 2018, and ratified and approved by the stockholders of the Corporation on June ___, 2018.

The option granted to you is to purchase ____________ Hundred Thousand (__00,000) shares of the $.0.0001 par Common Stock of the Corporation at the price of per share. The date of grant of this option is the date of this notice, and it is the determination of the Board of Directors that on this date the fair market value of the Corporation's no par common stock was $0.20 per share.

I enclosed a certified copy of the Incentive Stock Option Plan governing the option granted to you and your attention is invited to all the provisions of the Plan. You will observe that the Plan does not require that you exercise this option as to any particular number of shares at one time, but this option must be exercised, if at all and to the extent exercised, by no later than years from the date of this notice.

Your stock option is in all respects limited and conditioned as provided in the Employee Stock Option Plan, including, but not limited to, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Your option may be exercised by you, but only by you, at any time during your lifetime prior to the three months following termination of your employment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Your option is nontransferable, otherwise than as may be occasioned by your death, and then only to your estate or according to the terms of your Will or the provision of applicable laws of descent and distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. In the event that the right to exercise your option is passed to your estate, or to a person to whom such right devolves by reason of your death, then your option shall be nontransferable in the hands of your executor or administrator or of such person, except that your option may be distributed by your executor or administrator to the distributees of your estate as a part of your estate.

At the time or times when you wish to exercise this option, in whole or in part, please refer to the provisions of the Stock Option Plan dealing with methods and formalities of exercise of your option.

________________________

Secretary

## Ex1A-6

**Exhibit 6.2**

**CBD Life Sciences, Inc.**

**MANAGEMENT STOCK BONUS PLAN**

__________

**CBD Life Sciences, Inc.**

**Management Stock Bonus Plan**

__________

**Purpose**

This Plan's purpose is to keep personnel of experience and ability in the employ of CBD Life Sciences, Inc.("CBD Life Sciences, Inc.") and its subsidiaries and to compensate them for their contributions to the growth and profits of CBD Life Sciences, Inc. and its subsidiaries and thereby induce them to continue to make such contributions in the future.

1. **Definitions**

For the purpose of this Plan, the following terms will have the definitions set forth below:

(a) <u>Company</u> – CBD Life Sciences, Inc.

(b) <u>Subsidiary or Subsidiaries</u> – A corporation or corporations or other entity of which CBD Life Sciences, Inc. owns, directly or indirectly, shares having a majority of the ordinary voting power for the election of directors.

(c) <u>Board</u> – CBD Life Sciences, Inc. board of directors.

(d) <u>Committee</u> – The Management Stock Bonus Plan Committee as appointed from time to time by the Board, consisting of not less than three members. No member of the Committee shall be eligible for selection as a person to whom shares may be allocated pursuant to the Plan or to whom stock options may be granted pursuant to any other Plan of the Company or any of its affiliates, at any time while he is serving on the Committee.

(e) <u>Date of Issuance</u> – This term shall have the meaning supplied by Section 6(c) below.

(f) <u>Plan</u> – The CBD Life Sciences, Inc. Management Stock Bonus Plan.

(g) <u>Bonus Share</u> – The shares of Common Stock of CBD Life Sciences, Inc. reserved pursuant to Section 3 hereof and any such shares issued to a Recipient pursuant to this Plan.

(h) <u>Recipient</u> – An employee of CBD Life Sciences, Inc. or a subsidiary to whom shares are allocated under this Plan, or such individual's designated beneficiary, surviving spouse, estate, or legal representative. For this purpose, however, any such beneficiary, spouse, estate, or legal representative shall be considered as one person with the employee.

(i) <u>Restricted Period</u> – This phrase shall have the meaning supplied by Section 7(e) below.

2. **Bonus Share Reserve.**

(a) <u>Bonus Share Reserve</u>. CBD Life Sciences, Inc. will establish a Bonus Share Reserve to which will be credited Twenty-Five Million (25,000,000) shares of the Common Stock of CBD Life Sciences, Inc., par value $.0.0001 per share. Should the shares of the Company's Common Stock, due to a stock split or dividend or combination of shares or any other change, or exchange for any other securities, by reclassification, merger, consolidation, recapitalization, or otherwise, be increased or decreased, or changed into, or exchanged for, a different number or kind of shares of stock or other securities of CBD Life Sciences, Inc. or of another corporation or entity, the number of shares then remaining in the Bonus Share Reserve shall be appropriately adjusted to reflect such action. If any such adjustment results in a fractional share, the fraction shall be disregarded.

(b) <u>Adjustments to Reserve</u>. Upon the allocation of shares hereunder, the reserve will be reduced by the number of shares to be allocated and, upon the failure to make the required payment on the issuance of any Bonus Shares pursuant to Section 6(a) or upon the repurchase thereof pursuant to Section 7(d)(i) or (ii), Section 8 or Section 10 hereof, the reserve shall be increased by such number of shares, and such Bonus Shares may again be the subject of allocation hereunder.

(c) <u>Distributions of Bonus Shares</u>. Distributions of Bonus Shares, as the Board shall, in its sole discretion, determine, may be made from authorized but unissued shares or from treasury shares. All authorized and unissued shares issued as Bonus Shares in accordance with the Plan shall be fully paid and non-assessable shares free from preemptive rights.

2. **Eligibility and Making of Allocations.**

(a) <u>Eligible Employees</u>. Any salaried executive employee of CBD Life Sciences, Inc. or any Subsidiary (including officers and, except for person serving as directors only) shall be eligible to receive an allocation of Bonus Shares.

(b) <u>Selection by the Committee</u>. From the employees eligible to receive allocations pursuant to the Plan, the Committee may from time to time select those employees to whom it recommends that the Board make allocations. Such recommendations shall include a recommendation as to the number of Bonus Shares that should be allocated and in determining the number of Bonus Shares it wishes to recommend, the Committee shall consider the position and responsibilities of the eligible employees, the value of their services to CBD Life Sciences, Inc. and its subsidiaries and such factors as the Committee deems pertinent.

(c) <u>Review by the Board of Committee's Recommendations</u>. As promptly as practicable after the Committee recommends making allocations pursuant to (b) above, the Board will review the Committee's recommendations and, in the Board's discretion, allocate to the employees the Board selects from those employees recommended by the Committee a number of Bonus Shares not in excess of the number recommended for each employee by the Committee. The date of such action by the Board shall be the "date of allocation," as that term is used in this Plan.

(d) <u>Participation in Other Stock Option Plans</u>. A person who has received options to purchase stock under any stock option plan of CBD Life Sciences, Inc. or any subsidiary may exercise the same in accordance with their terms, and will not by reason thereof be ineligible to receive Bonus Shares under this Plan. A person who has received Bonus Shares under this Plan shall not, for a period of three years from the date of Issuance thereto of such Bonus Shares, be eligible to, and may not, be granted any option or other rights to purchase Common Stock pursuant to any stock option or stock purchase plan of CBD Life Sciences, Inc. presently in effect or hereafter adopted, nor shall he or she be eligible during such period to receive any additional allocation of Bonus Shares under this Plan or under any similar plan of CBD Life Sciences, Inc..

(e) <u>Limit on Number of Shares</u>. The total number of Bonus Shares, which may be allocated pursuant to this Plan, will not exceed the amount of available therefore in the Bonus Share reserve.

3. **Form of Allocation.**

(a) <u>Number Specified</u>. Each allocation shall specify the number of Bonus Shares subject thereto, subject to the provisions of Section 4.

(b) <u>Notice</u>. When an allocation is made, the Board shall advise the Recipient and CBD Life Sciences, Inc. thereof by delivery of written notice in the Form of Exhibit A hereto attached.

(c) <u>Public Listing of Stock</u>. CBD Life Sciences, Inc. shall take such action as shall be necessary to cause any Bonus Shares issued pursuant to this Plan and not previously listed to be listed on a public stock market or exchange on which shares of the same as the Bonus Shares are then listed, if any.

4. **Payment Required of Recipients.**

(a) <u>Acceptance of Allocation</u>. Within 15 days from the date of allocation, the Recipient shall, if he desires to accept the allocation, pay to CBD Life Sciences, Inc. an amount equal to the par value of the Bonus Shares so allocated, in cash, buy certified or bank cashier's check, or by money order at the office of the Treasurer.

(b) <u>Investment Purpose</u>. CBD Life Sciences, Inc. may require that in acquiring any Bonus Shares, the Recipient agree with, and represent to, CBD Life Sciences, Inc. that the Recipient is acquiring such Bonus Shares for the purpose of investment and with no present intent to transfer, sell or otherwise dispose of such shares except for such distribution by a legal representative as shall be required by will or the laws of any jurisdiction in winding up the estate of any Recipient. Such shares shall be transferable thereafter only if the proposed transfer is permitted under the Plan and if, in the opinion of counsel (who shall be satisfactory to CBD Life Sciences, Inc.), such transfer at such time complies with applicable securities laws.

(c) <u>Written Agreement/Date of Issuance</u>. Concurrently with making payment of the par value of the Bonus Shares pursuant to Section 6(a) the Recipient shall deliver to CBD Life Sciences, Inc., in duplicate, an agreement in writing, signed by the Recipient, in form and substance as set forth in Exhibit B, below, and CBD Life Sciences, Inc. will promptly acknowledge the receipt thereof. The date of such delivery and receipt shall be deemed the "Date of Issuance," as that phrase is used in this Plan, of the Bonus Shares to which the shares relate. The failure to make such payment and delivery within 15 days from the date of allocation shall terminate the allocation of such shares to the Recipient.

5. **Restrictions.**

(a) <u>Transfer/Issuance</u>. Bonus Shares, after the making of the payment and representations, etc. required by Section 6, will be promptly issued or transferred and a certificate or certificates for such shares shall be issued in the Recipient's name. As such, the Recipient shall have all of the rights of a shareholder with respect to such shares, including the right to vote them and to receive all dividends and other distributions (subject to Section 7(b)) paid with respect to them, provided, however, that the shares shall be subject to the restrictions in Section 7(d). Stock certificates representing Bonus Shares will be imprinted with a legend stating that the shares represented thereby may not be sold, exchanged, transferred, pledged, hypothecated, or otherwise disposed of except in accordance with this Plan's terms, and each transfer agent for the Common Stock shall be instructed to like effect in respect of such shares. In aid of such restrictions, the Recipient shall immediately upon receipt of the certificate for such shares, deposit such certificate(s), together with a stock power or other instrument of transfer, appropriately endorsed in blank, with an escrow agent designated by the Committee, under a deposit agreement containing such terms and conditions as the Committee shall approve, the expenses of such escrow to be borne by CBD Life Sciences, Inc..

(b) <u>Stock Splits, Stock Dividends, Etc</u>. If, due to a stock split, stock dividend, combination of shares, or any other change or exchange for other securities, by reclassification, reorganization, merger, consolidation, recapitalization, or otherwise, the Recipient, as the owner of the Bonus Shares subject to restrictions hereunder, shall be entitled to new, additional, or different shares of stock or securities, the certificate or certificates for, or other evidences of, such new, additional, or different shares or securities, together with a stock power or other instrument of transfer appropriately endorsed, which shares also shall be imprinted with a legend as provided in Section 7(a) and deposited by the Recipient under the above-mentioned deposit agreement. When the event(s) described in the preceding sentence occur, all Plan provisions relating to restrictions and lapse of restrictions will apply to such new, additional or different shares or securities to the extent applicable to the shares with respect to which they were distributed, provided, however, that if the Recipient shall receive rights, warrants or fractional interests in respect of any such Bonus Shares, such rights or warrants may be held, exercised, sold or otherwise disposed of, and such fractional interests may be settled, by the Recipient free and clear of the restrictions hereafter set forth.

(c) <u>Restricted Period</u>. The term "Restricted Period" with respect to restricted Bonus Shares (after with restrictions shall lapse) means a period starting on the Date of Issuance of such shares to the Recipient and ending on such date not less than three (3) years after the Date of Issuance, as the Committee may establish as the time of allocation of shares hereunder.

(d) <u>Restrictions on Bonus Shares</u>. The restrictions to which restricted Bonus Shares shall be subject are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) During the Restricted Period to such shares and except as otherwise specifically provided in the Plan, none of such shares shall be sold, exchanged, transferred, pledged, hypothecated, or otherwise disposed of unless they first, by written notice have been offered to CBD Life Sciences, Inc. for repurchase, for the same amount as was paid therefore under Section 6, with appropriate adjustment for any change in the Bonus Shares of the nature described in Section 7(b). If CBD Life Sciences, Inc. shall not within 30 days following such offer have so repurchased the shares and made payment in full for such shares, unless such purchase is otherwise prohibited by the laws of the State of Nevada currently in effect at the time of an offer of Bonus Shares to CBD Life Sciences, Inc. for repurchase pursuant to the terms of the Plan, CBD Life Sciences, Inc. shall repurchase said shares and make payment in full for such shares within thirty (30) days following such offer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If a Recipient's employment is terminated for any reason, including such Recipient's death or disability, at any time before the Restricted Period ends, CBD Life Sciences, Inc. shall so notify the escrow agent appointed under Section 7(a). Such termination shall be deemed an offer to CBD Life Sciences, Inc. as described in Section 7(d)(i) as to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) All such shares issued to the Recipient, if such termination occurs within one year from the Date of Issuance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) 75% of the total number of such shares originally issued (including any other or additional securities issued in respect thereof, as contemplated by Section 7(b) to such Recipient, if such termination occurs more than one year after the Date of Issuance but prior to two years after that date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) 50% of the total number of such shares originally issued (including any other or additional securities issued in respect thereof, as contemplated by Section 7(b) to such Recipient, if such termination occurs on or after two years after the Date of Issuance but prior to the end of the Restricted Period.

(e) <u>Lapse of Restricted Period</u>. The restriction set forth in Section 7(d) hereof, with respect to the Bonus Shares to which such Restricted Period was applicable, will lapse

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) As to such shares in accordance with the time(s) and number(s) of shares as to which the Retracted Period expires, as described in Section 7(d)(ii), or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) As to any shares which CBD Life Sciences, Inc. will fail to purchase when they are offered to CBD Life Sciences, Inc., as described in Section 7(d)(i) upon CBD Life Sciences, Inc.'s failure to so repurchase.

(f) <u>Transfers Upon Death of Recipient</u>. Nothing in this Plan will preclude the transfer of restricted Bonus Shares on the Recipient's death, to the Recipient's legal representatives or estate, or preclude such representatives from transferring any of such shares to the person(s) entitled thereto by will or the laws of descent and distribution; provided, however, that any shares so transferred as to which such restrictions have not lapsed will remain subject to all restrictions and obligations imposed on them by this Plan.

(g) <u>Delivery of Written Notice</u>. All notices in writing required pursuant to this Section 7 will be sufficient only if actually delivered or if sent via registered or certified mail, postage prepaid, to CBD Life Sciences, Inc., attention Treasurer, and/or escrow agent at its principal office within the City of Newport Beach, California, and will be conclusively deemed given on the date of delivery, if delivered before or on the date first business day following the date of such mailing, if mailed.

6. **Finality of Determination.**

The Committee will administer this Plan and construe its provisions. Any determination by the Committee (except insofar as it will make recommendations only) in carrying out, administering, or constructing this Plan will be final and binding for all purposes and upon all interested persons and their heirs, successors and personal representatives.

7. **Limitations.**

(a) <u>No Right to Allocation</u>. No person will at any time have any prior right to receive an allocation of Bonus Shares hereunder, and no person will have authority to enter into an agreement for the making of an allocation, or any prior right or to make any representation or warranty with respect thereto.

(b) <u>Rights of Recipients</u>. Recipients of allocations will have no rights in respect thereof other than those set forth in this Plan. Except as provided in Section 6(b) or 7(f), such rights may not be assigned or transferred except by will or by the laws of descent or distribution. If any attempt is made to sell, exchange, transfer, pledge, hypothecate, or otherwise dispose of any Bonus Shares held by the Recipient under restrictions which have not yet lapsed, the shares that are the subject of such attempted disposition will be deemed offered to CBD Life Sciences, Inc. for repurchase, and CBD Life Sciences, Inc. will repurchase them, as described in Section 7(d)(i) when CBD Life Sciences, Inc. receives actual notice of such attempted distribution. Before issuance of Bonus Shares, no such shares will be earmarked for the Recipient's accounts nor will such Recipients have any rights as stockholders with respect to such shares.

(c) N<u>o Right to Continued Employment</u>. Neither CBD Life Sciences, Inc.'s actions in establishing the Plan, nor any action taken by it or by the Board or the Committee under the Plan, nor any provision of the Plan, will be construed as giving to any person the right to be in the employ of CBD Life Sciences, Inc. or any Subsidiary.

(d) <u>Limitation on Actions</u>. Every right of action by or on behalf of CBD Life Sciences, Inc. or by any shareholder against any past, present or future member of the Board, the Committee or any officer or employee of CBD Life Sciences, Inc. arising out of or in connection with this Plan shall, regardless of the place where the action may be brought and regardless of the place of residence of any such director, committee member, officer or employee, cease and be barred by the expiration of three years from the later of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The date of the act or omission in respect of which such right of action arises;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The first date upon which there has been made generally available to shareholders an annual report of CBD Life Sciences, Inc. and a proxy statement for the annual meeting of shareholders following the issuance of such annual report, which annual report and proxy statement alone or together set forth, for the related period, the amount of the allocation.

In addition, any and all right of action by any employee (past, present or future) against CBD Life Sciences, Inc. or any member of the Committee arising out of or in connection with this Plan will, regardless of the place where action may be brought and regardless of the place of residence of any Committee member, cease and be barred by the expiration of three years from the date of the act or omission in respect of which such right of action arises.

8. **Amendment, Suspension or Termination of Plan.**

The Board may amend, suspend or terminate the Plan in whole or in part at any time; provided that such amendment will not affect adversely the rights or obligations with respect to allocations previously made; and provided further, that no modifications of the Plan by the Board without approval by the stockholders will (i) increase the maximum number of Bonus Shares reserved pursuant to Section 3; (ii) alter the provisions of Section 4 with respect to the total number of Bonus Shares that may be allocated under the Plan, or (iii) render any member of the Committee eligible to receive an allocation at any time while he is serving on the Committee.

9. **Governing Laws.**

This Plan will be governed by the laws of the State of California.

10. **Expenses of Administration.**

All costs and expenses incurred in the operation and administration of this Plan will be borne by the Company.

11. **Registration of Bonus Shares.**

(a) <u>Registration Requirement</u>. If CBD Life Sciences, Inc. determines at any time to register any of its securities under the Securities Act of 1933 (or similar statute then in effect) CBD Life Sciences, Inc., at its expense, will include among the securities which it then registers all Bonus Shares or other stock or securities issued in respect thereof, or in replacement thereof as to which the Restricted Period has expired. The requirement of the preceding sentence, however, will not apply to the extent that any Recipient at that time has no present intent to sell or distribute the relevant shares. Also, in the case of stock or securities not of CBD Life Sciences, Inc., CBD Life Sciences, Inc.'s obligation under this Section 13 will be limited to using its best efforts to effect such registration and shall not be required to register such shares if, in the opinion of CBD Life Sciences, Inc.'s investment banker, such registration would materially limit the marketability of other securities registered or to be registered by CBD Life Sciences, Inc..

(b) <u>Written Notification</u>. As to each registration pursuant to this Section 13, CBD Life Sciences, Inc. will keep the Recipients advised in writing as to their initiation of proceedings for such registration and as to the completion thereof, and at its expense will keep such registration effective for a period of nine months, or until all sales and distributions contemplated in connection therewith are completed, whichever period is shorter. Each Recipient will at his own expense furnish to CBD Life Sciences, Inc. such information regarding the Recipient and the Recipient's ownership of Bonus Shares (or other stock or securities) as CBD Life Sciences, Inc. may reasonably request in writing in connection with any such registration.

(c) <u>Prospectus, Indemnification</u>. CBD Life Sciences, Inc., at its expense, will furnish to each Recipient such number of prospectuses incident to any such registration as such Recipient from time to time reasonably may request. In addition, CBD Life Sciences, Inc. will indemnify each such Recipient against all claims, losses, damages, and liabilities caused by any untrue statement of a material fact contained in such prospectus (or in any related registration statement) or by any omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same may have been caused by an untrue statement or omission based upon information furnished in writing to CBD Life Sciences, Inc. by such Recipient expressly for use therein. Further, as a condition precedent to the obligations of CBD Life Sciences, Inc. pursuant to Section 1, each Recipient will agree in writing to indemnify CBD Life Sciences, Inc. against all claims, losses, damages, and liabilities caused by an untrue statement or omission based upon information furnished to CBD Life Sciences, Inc. by such Recipient expressly for use therein.

**Exhibit I**

**CBD Life Sciences, Inc.**

Date: August 29, 2018

To: , Recipient

From: Treasurer, CBD Life Sciences, Inc.

This is to advise you that CBD Life Sciences, Inc.'s Board of Directors has on the date of this Notice allocated to the Recipient above named a total of

Bonus Shares under and pursuant to the Management Stock Bonus Plan.

For these shares to be issued, the Recipient must make payment of $

And deliver to the Treasurer of CBD Life Sciences, Inc. an agreement in duplicate, in the form of Exhibit II hereto, within 15 days of the date of this Notice.

<u>/s/ John Stippick</u>

For the Board

**Exhibit II**

**CBD Life Sciences, Inc.**

**Management Stock Bonus Plan**

To: Treasurer, CBD Life Sciences, Inc.<br>

Enclosed is the sum of $

Being equal to the par value of

Bonus Shares allocated to and purchased by me pursuant to CBD Life Sciences, Inc.'s Management Stock Bonus Plan. Upon receipt of these Bonus Shares, I will deposit them together with a stock power duly endorsed in blank with an escrow agent appointed pursuant to Section 7(a) of this Plan.

I represent and agree that I am acquiring these Bonus Shares for investment and that I have no present intention to transfer, sell or otherwise dispose of such shares, except as permitted pursuant to the Plan and in compliance with applicable securities laws. I agree further that I am acquiring these shares in accordance with, and subject to, the terms, provisions, and conditions of said Plan, to all of which I hereby expressly consent. These agreements will bind and inure to the benefit of my heirs, legal representatives, successors and assigns.

My address of record is:

My social security number is:

Receipt of the above, together with the payment referred to, is hereby acknowledged.

CBD Life Sciences, Inc.

By: <u>/s/ John Stippick</u>

Date: August 29, 2018

## Ex1A-6

**Exhibit 6.3**

**CBD Life Sciences, Inc.**

**ANNUAL BONUS PERFORMANCE PLAN**

**FOR EXECUTIVE OFFICERS**

**_____**

**April , 2019**

**CBD Life Sciences, Inc.**

**ANNUAL BONUS PERFORMANCE PLAN**

**FOR EXECUTIVE OFFICERS**

**______**

**SECTION 1. PURPOSE OF PLAN**

The purpose of the Plan is to promote the success of the Company by providing to participating executives bonus incentives that qualify as performance-based compensation within the meaning of Section 162(m) of the Code.

**SECTION 2. DEFINITIONS AND TERMS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 <u>Accounting Terms</u>. Except as otherwise expressly provided or the context otherwise requires, financial and accounting terms are used as defined for purposes of, and shall be determined in accordance with, generally accepted accounting principles, as from time to time in effect, as applied and reflected in the consolidated financial statements of the Comp any, prepared in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 <u>Specific Terms</u>. The following words and phrases as used herein shall have the following meanings unless a different meaning is plainly required by the context:

"Bonus" means a cash payment or a payment opportunity as the context requires.

"Bonus Pool" means the total aggregate of cash payments or payment opportunities in any Year that may be allowed under the Plan.

"Business Criteria" means any one or any combination of Income before Taxes, Net Income, Return on Equity, Return on Assets, Pre-tax Margin, Free Cash Flow, Valuation or EPS.

"Code" means the Internal Revenue Code of 1986, as amended from time to time.

"Committee" means the Performance Plan Subcommittee which has been established to administer the Plan in accordance with Section 3.1 and Section 162(m) of the Code.

"Company" means CBD Life Sciences, Inc. and any successor, whether by merger, ownership of all or substantially all of its assets, or otherwise.

"EBITDA" for any Year means the consolidated earnings before interest, tax, depreciation, and amortization as reported in the financial statements of the Company for the Year.

"EPS" for any Year means earnings per share of the Company, as reported in the Company's Consolidated Statement of Income set forth in the financial statements of the Company for the Year.

"Executive" means a key employee (including any officer) of the Company who is (or in the opinion of the Committee may during the applicable Performance Period become) an "executive officer" as defined in Rule 3b-7 under the Securities Exchange Act of 1934.

"Free Cash Flow" for any Year means the Consolidated Net Income plus the sum of the decrease in working capital and depreciation and amortization less the sum of capital expenditures, mandatory debt payments and the increase in working capital as reported in the financial statements of the Company for the Year.

"Income before Taxes" for any Year means the consolidated income before taxes of the Company, as reported in the financial statements of the Company for the Year.

"Net Income" for any Year means the consolidated net income of the Company, as reported in the financial statements of the Company for the Year.

"Participant" means an Executive selected to participate in the Plan by the Committee.

"Performance Period" means the Year or Years with respect to which the Performance Targets are set by the Committee.

"Performance Target(s)" means the specific objective goal or goals (which may be cumulative and/or alternative) that are timely set in writing by the Committee for each Executive for the Performance Period in respect of any one or more of the Business Criteria.

"Plan" means this Annual Bonus Performance Plan for Executive Officers of the Company, as amended from time to time.

"Pre-tax Margin" for any Year means the Income before Taxes of the Company divided by Consolidated Sales of the Company, as reported in the financial statements of the Company for the Year.

"Return on Assets" means Net Income divided by the average of the total assets of the Company at the end of the four fiscal quarters of the Year, as reported by the Company in its consolidated financial statements.

"Return on Equity" means the Net Income divided by the average of the common stockholders equity of the Company at the end of each of the four fiscal quarters of the Year, as reported by the Company in its consolidated financial statements.

"Section 162(m)" means Section 162(m) of the Code, and the regulations promulgated thereunder, all as amended from time to time.

"Shares" means shares of common stock of the Company or any securities or property, including rights into which the same may be converted by operation of law or otherwise.

"Valuation" for any Year means the product of consolidated EBIDA, as reported in the financial statements of the Company for the Year, and six.

`"Working Capital" for any Year means the consolidated current assets of the Company less the consolidated current liabilities of the Company, as reported in the financial statements of the Company for the Year.

"Year" means any one or more fiscal years of the Company commencing on or after January 1, 2018 that represent(s) the applicable Performance Period and end(s) no later than December 31, 2026.

**SECTION 3. ADMINISTRATION OF THE PLAN**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <u>The Committee</u>. The Plan shall be administered by a Committee consisting of at least one member of the Board of Directors of the Company, duly authorized by the Board of Directors of the Company to administer the Plan, who (i) are not eligible to participate in the Plan and (ii) are "outside directors" within the meaning of Section 162(m).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <u>Powers of the Committee</u>. The Committee shall have the sole authority to establish and administer the Performance Target(s) and the responsibility of determining from among the Executives those persons who will participate in and receive Bonuses under the Plan and, subject to Sections 4 and 5 of the Plan, the amount of such Bonuses, and the time or times at which and the form and manner in which Bonuses will be paid (which may include elective or mandatory deferral alternatives) and shall otherwise be responsible for the administration of the Plan, in accordance with its terms. The Committee shall have the authority to construe and interpret the Plan (except as otherwise provided herein) and any agreement or other document relating to any Bonus under the Plan, may adopt rules and regulations governing the administration of the Plan, and shall exercise all other duties and powers conferred on it by the Plan, or which are incidental or ancillary thereto. For each Performance Period, the Committee shall determine, at the time the Business Criteria and the Performance Target(s) are set, those Executives who are selected as Participants in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <u>Requisite Action</u>. A majority of the members of the Committee shall constitute a quorum. The vote of a majority of those present at a meeting at which a quorum is present or the unanimous written consent of the Committee shall constitute action by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <u>Express Authority (and Limitations on Authority) to Change Terms and Conditions of Bonus; Acceleration or Deferral of Payment</u>. Without limiting the Committee's authority under other provisions of the Plan, but subject to any express limitations of the Plan and Section 5.8, the Committee shall have the authority to accelerate a Bonus (after the attainment of the applicable Performance Target(s)) and to waive restrictive conditions for a Bonus (including any forfeiture conditions, but not Performance Target(s)), in such circumstances as the Committee deems appropriate. In the case of any acceleration of a Bonus after the attainment of the applicable Performance Target(s), the amount payable shall be discounted to its present value using an interest rate equal to Moody's Average Corporate Bond Yield for the month preceding the month in which such acceleration occurs. Any deferred payment shall be subject to Section 4.9 and, if applicable, Section 4.10.

**SECTION 4. BONUS PROVISIONS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <u>Maximum Total Bonus</u>. In any Year the aggregate amount of bonuses awarded by the Company to all Participants may not exceed the Bonus Pool. In any year the bonus Pool is the product of 10% and Income before Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <u>Provision for Bonus</u>. Each Participant may receive a Bonus if and only if the Performance Target(s) established by the Committee, relative to the applicable Business Criteria, are attained. The applicable Performance Period and Performance Target(s) shall be determined by the Committee consistent with the terms of the Plan and Section 162(m). Notwithstanding the fact that the Performance Target(s) have been attained, the Company may pay a Bonus of less than the amount determined by the formula or standard established pursuant to Section 4.2 or may pay no Bonus at all, unless the Committee otherwise expressly provides by written contract or other written commitment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <u>Selection of Performance Target(s)</u>. The specific Performance Target(s) with respect to the Business Criteria must be established by the Committee in advance of the deadlines applicable under Section 162(m) and while the performance relating to the Performance Target(s) remains substantially uncertain within the meaning of Section 162(m). At the time the Performance Target(s) are selected, the Committee shall provide, in terms of an objective formula or standard for each Participant, and for any person who may become a Participant after the Performance Target(s) are set, the method of computing the specific amount that will represent the maximum amount of Bonus payable to the Participant if the Performance Target(s) are attained, subject to Sections 4.1, 4.2, 4.3, 4.8, 5.1 and 5.8.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <u>Maximum Individual Bonus</u>. Notwithstanding any other provision hereof, no Executive shall receive a Bonus under the Plan for the Year in excess of $1 million. No Executive shall receive aggregate bonuses under this Plan for the Year in excess of $1 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 <u>Selection of Participants</u>. For each Performance Period, the Committee shall determine, at the time the Business Criteria and the Performance Target(s) are set, those Executives who will participate in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 <u>Effect of Mid-Year Commencement of Service</u>. To the extent compatible with Sections 4.3 and 5.8, if services as an Executive commence after the adoption of the Plan and the Performance Target(s) are established for a Performance Period, the Committee may grant a Bonus that is proportionately adjusted based on the period of actual service during the Year; the amount of any Bonus paid to such person shall not exceed that proportionate amount of the applicable maximum individual bonus under Section 4.1 and 4.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 <u>Changes Resulting From Accounting Changes</u>. Subject to Section 5.8, if, after the Performance Target(s) are established for a Performance Period, a change occurs in the applicable accounting principles or practices, the amount of the Bonuses paid under this Plan for such Performance Period shall be determined without regard to such change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 <u>Committee Discretion to Determine Bonuses</u>. The Committee has the sole discretion to determine the standard or formula pursuant to which each Participant's Bonus shall be calculated (in accordance with Section 4.3), whether all or any portion of the amount so calculated will be paid, and the specific amount (if any) to be paid to each Participant, subject in all cases to the terms, conditions and limits of the Plan and of any other written commitment authorized by the Committee. To this same extent, the Committee may at any time establish additional conditions and terms of payment of Bonuses (including but not limited to the achievement of other financial, strategic or individual goals, which may be objective or subjective) as it may deem desirable in carrying out the purposes of the Plan and may take into account such other factors as it deems appropriate in administering any aspect of the Plan. The Committee may not, however, increase the maximum amount permitted to be paid to any individual under Section 4.3 or 4.4 of the Plan or award a Bonus under this Plan if the applicable Performance Target(s) have not been satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9 <u>Committee Certification</u>. No Executive shall receive any payment under the Plan unless the Committee has certified, by resolution or other appropriate action in writing, that the amount thereof has been accurately determined in accordance with the terms, conditions and limits of the Plan and that the Performance Target(s) and any other material terms previously established by the Committee or set forth in the Plan were in fact satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10 <u>Time of Payment; Deferred Amounts</u>. Any Bonuses granted by the Committee under the Plan shall be paid as soon as practicable following the Committee's determinations under this Section 4 and the certification of the Committee's findings under Section 4.9. Any such payment shall be in cash or cash equivalent or in such other form of equal value on such payment date as the Committee may approve or require. Notwithstanding the foregoing, the Committee may, in its sole discretion (but subject to any prior written commitments and to any conditions consistent with Sections 3.4, 4.1, 4.4 and 5.8 that it deems appropriate), defer the payout or vesting of any Bonus and/or provide to Participants the opportunity to elect to defer the payment of any Bonus under a nonqualified deferred compensation plan. In the case of any deferred payment of a Bonus after the attainment of the applicable Performance Target(s), any amount in excess of the amount otherwise payable shall be based on either Moody's Average Corporate Bond Yield over the deferral period or one or more predetermined actual investments (including Shares) such that the amount payable at the later date will be based upon actual returns, including any decrease or increase in the value of the investment(s), unless the alternative deferred payment is otherwise exempt from the limitations under Section 162(m).

**SECTION 5. GENERAL PROVISIONS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <u>No Right to Bonus or Continued Employment</u>. Neither the establishment of the Plan nor the provision for or payment of any amounts hereunder nor any action of the Company (including, for purposes of this Section 5.1, any predecessor or subsidiary), the Board of Directors of the Company or the Committee in respect of the Plan, shall be held or construed to confer upon any person any legal right to receive, or any interest in, a Bonus or any other benefit under the Plan, or any legal right to be continued in the employ of the Company. The Company expressly reserves any and all rights to discharge an Executive in its sole discretion, without liability of any person, entity or governing body under the Plan or otherwise. Notwithstanding any other provision hereof and notwithstanding the fact that the Performance Target(s) have been attained and/or the individual maximum amounts pursuant to Section 4.2 have been calculated, the Company shall have no obligation to pay any Bonus hereunder nor to pay the maximum amount so calculated or any prorated amount based on service during the period, unless the Committee otherwise expressly provides by written contract or other written commitment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <u>Discretion of Company, Board of Directors and Committee</u>. Any decision made or action taken by the Company or by the Board of Directors of the Company or by the Committee arising out of or in connection with the creation, amendment, construction, administration, interpretation and effect of the Plan shall be within the absolute discretion of such entity and shall be conclusive and binding upon all persons. No member of the Committee shall have any liability for actions taken or omitted under the Plan by the member or any other person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 <u>Absence of Liability</u>. A member of the Board of Directors of the Company or a member of the Committee of the Company or any officer of the Company shall not be liable for any act or inaction hereunder, whether of commission or omission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 <u>No Funding of Plan</u>. The Company shall not be required to fund or otherwise segregate any cash or any other assets which may at any time be paid to Participants under the Plan. The Plan shall constitute an "unfunded" plan of the Company. The Company shall not, by any provisions of the Plan, be deemed to be a trustee of any property, and any obligations of the Company to any Participant under the Plan shall be those of a debtor and any rights of any participant or former Participant shall be no greater than those of a general unsecured creditor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 <u>Non-Transferability of Benefits and Interests</u>. Except as expressly provided by the Committee, no benefit payable under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, and any such attempted action be void and no such benefit shall be in any manner liable for or subject to debts, contracts, liabilities, engagements or torts of any Participant or former Participant. This Section 5.5 shall not apply to an assignment of a contingency or payment due after the death of the Executive to the deceased Executive's legal representative or beneficiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 <u>Law to Govern</u>. All questions pertaining to the construction, regulation, validity and effect of the provisions of the Plan shall be determined in accordance with the laws of the State of California.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7 <u>Non-Exclusivity</u>. Subject to Section 5.8, the Plan does not limit the authority of the Company, the Board or the Committee, or any subsidiary of the Company to grant awards or authorize any other compensation under any other plan or authority, including, without limitation, awards or other compensation based on the same Performance Target(s) used under the Plan. In addition, Executives not selected to participate in the Plan may participate in other plans of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8 <u>Section 162(m) Conditions; Bifurcation of Plan</u>. It is the intent of the Company that the Plan and Bonuses paid hereunder satisfy and be interpreted in a manner, that, in the case of Participants who are or may be persons whose compensation is subject to Section 162(m), satisfies any applicable requirements as performance-based compensation. Any provision, application or interpretation of the Plan inconsistent with this intent to satisfy the standards in Section 162(m) of the Code shall be disregarded. Notwithstanding anything to the contrary in the Plan, the provisions of the Plan may at any time be bifurcated by the Board or the Committee in any manner so that certain provisions of the Plan or any Bonus intended (or required in order) to satisfy the applicable requirements of Section 162(m) are only applicable to persons whose compensation is subject to Section 162(m).

**SECTION 6. AMENDMENTS, SUSPENSION**

**OR TERMINATION OF PLAN**

The Board of Directors or the Committee may from time to time amend, suspend or terminate in whole or in part, and if suspended or terminated, may reinstate, any or all of the provisions of the Plan. Notwithstanding the foregoing, no amendment may be effective without Board of Directors and/or shareholder approval if such approval is necessary to comply with the applicable rules of Section 162(m) of the Code.

**CERTIFICATION**

The undersigned Secretary of the Company certifies that the foregoing constitutes a complete and correct copy of the Plan as amended on April ___, 2019 by the Board of Directors of CBD Life Sciences, Inc.

<u>/s/ Lisa Nelson</u> 

Secretary

Date: April ___, 2019

## Ex1A-6

**Exhibit 6.4**

**EMPLOYMENT AGREEMENT**

This Employment Agreement (the "Agreement") is entered to be effective May 1, 2024, by and between CBD Life Sciences, Inc., a Nevada corporation (the "Company" or "Employer"), and Lisa Nelson (the "Employee").

1. Employment

Subject to the terms and conditions set forth in this Agreement, Employer hereby employs Employee, and Employee hereby accepts employment with Employer.

2. Duties and Responsibilities

Employee's title, duties, hours, and responsibilities shall be as determined, from time to time, by the Board of Directors and/or Management of the Company and Employee shall have the initial title of PRESIDENT& CHAIRMAN. For as long as Employee is employed by Employer, Employee will competently perform as an employee in accordance with the duties, hours, and responsibilities assigned and the Employee will devote not less than 30 hours per week to advance the business and welfare of Employer and will not engage in any other business enterprise without the prior written approval of the Board of Directors of Employer.

3. Place of Employment

During the term of this Agreement, Employee will not be required to undertake any duties or responsibilities that would make it necessary or desirable to move Employee's residence.

4. Compensation

As full compensation for all services rendered under this Agreement, Employee shall receive the salary and other benefits described as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) <u>Salary</u>: $120,000 per year until the Company raises $1,000,000 in capital funding, at which time the Employee salary will be increased to $150,000 per year. In addition, Employee is eligible to participate in any bonus pools established by the Company (e.g. management compensation bonus pool, 5% of pretax profits, once the Company reaches profitability).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) <u>Other Benefits</u>: Employee shall, if otherwise eligible under the terms thereof, be eligible to participate in the company's medical, dental, retirement or life insurance plans, if any, under the same terms and conditions as are applicable to other employees in similar capacities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) <u>Vacation</u>: Employee shall be entitled to 15 days' vacation per year of work. Employer reserves all rights as to approval of the dates of such vacation.

5. Business Expenses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Business Expenses as Employee Expense. Any and all expenses incurred by the Employee, without prior approval and agreement to reimburse on the part of Employer, including, but not limited to, expenses related to travel, car maintenance and gasoline, cell phone, and pagers, are expenses of the Employee. Employer may advance sums to Employee from time to time for reasonable business expenses incurred by Employee in promoting the business of Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Reimbursable Business Expenses. Employer may, in its sole discretion, agree to reimburse business expenses. The following requirements shall be met with respect to such reimbursable expenses:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) That all such expenditures are approved in advance by Employer or Designee in writing, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That Employee submit weekly itemized expense account data in the form required by Employee sufficient to substantiate a deduction for said pre-approved business expense under all applicable rules and regulations of federal and state taxing authorities.

6. Records and Accounts/Exclusive Property of Employer

All records relating in any manner whatsoever to the business of Employer or the customers or principals of Employer whether prepared by Employee or otherwise coming into his/her possession, shall be the exclusive property of Employer, regardless of who actually purchased, prepared, or acquired the original book or record. All such books and records shall be immediately returned to Employer by Employee upon termination of his/her employment hereunder of any reason. If Employee purchases any record, book, ledger, or similar item to be used of records keeping, Employee shall immediately notify Employer.

7. Term and Termination

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) This Agreement shall have a term of five (5) years.

This Agreement shall terminate immediately and automatically for any of the following occurrences:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Upon notice for cause, including but not limited to, the Employee's dishonesty in relations with or on behalf of Employer; or upon a material breach of this agreement by Employee; or violation in terms of Non-Disclosure Agreement entered into between Employer and Employee or between Employer and third parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The death of the Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The legally adjudicated incompetence of the Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Protection of Confidential Information after Termination of Employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Employee acknowledges that the sale of unauthorized use of, or disclosure of confidential information of Employer constitutes unfair competition. Employee promises and agrees not to engage in any unfair competition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Employee shall not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Make known to any person, firm, or corporation the names or addresses of any of the customers or principals of Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. For a period of three (3) years immediately following the termination of her employment with the Employer, either directly or indirectly, solicit, or take away, or attempt to solicit, or take away any of the customers or principals of Employer either for herself of for any other person, firm, or corporation, by the use of confidential information obtained from Employer during her term or employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Violate the terms of any non-disclosure agreement entered into by the Employee or by the Company.

8. Restriction on Competitive Activity During Employment/Protection of Confidential Information/Conflict of Interests.

So long as Employee is employed by Employer, Employee shall not, unless specifically directed or authorized to do so in writing by the Board of the Directors directly or indirectly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Engage in any business or activities in competition in any manner whatsoever with the business of Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Call on, Solicit, or attempt to call on or solicit, any client or customer of Employer for the account of anyone other the Employer

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Reveal confidential information of either Employer or a principal to any individual, partnership, corporation, or association, including one in a business competitive with Employer in any manner whatsoever, other that as necessary and appropriate in the ordinary course of Employer's business. Confidential information includes but is not limited to, the names or addresses of any principal or customer of the Employer contact persons, purchasing of buying patterns, operating patterns, confidential technical information of a customer or principal, and/or any information subject to a non-disclosure agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Use or disclose any proprietary information or trade secrets of any former of concurrent employer or other person or entity, or bring onto the business premises of the Company any unpublished document or data or proprietary information belonging to any former of concurrent employer or other person or entity, or store any data evidencing any proprietary information or trade secrets of any former of concurrent employer or other person or entity in any computer which is used to store data of the Company or perform work for the Company, whether stand alone, or in network, and whether such computer is located on the business premises of the Company or elsewhere.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) Employee shall further execute and adhere to any Conflict-of-Interest Guidelines made available to Employee from time to time. The current Conflict of Interest Guidelines are attached hereto as <u>Exhibit A</u> which are incorporated herein for all purposes.

9. No Waiver

The waiver of a breach of any term or condition of this Agreement shall not be deemed to constitute the waiver of any further breach of such term or condition or the waiver of any other term or condition of this Agreement. Nothing contained in this Agreement shall be construed as prohibiting Employer from pursuing any other remedies available to it for any breach or threatened breach, including the recovery of money damages.

10. Severability

To the extent that the covenants and agreements set forth herein, or any portion thereof shall be found to be illegal or unenforceable of any reason, such word, clause, phrase, or sentence shall be modified or deleted in such a manner so as to make this Employment Contract as modified, legal and enforceable under applicable laws, and the balance of the covenants and agreements of the parties or parts thereof, shall not be affected thereby and shall remain in full force and effect.

11. Assignment

This Agreement shall extend to and be binding on Employer and its successors and assigns. Except as otherwise provided herein, Employee's rights to receive payments pursuant to this Agreement shall be non-assignable.

12. Specific Performance

The parties hereto agree that the services to be performed by Employee hereunder are of a special, unusual, and extraordinary character which gives them a unique value, and that in that in the course of said services, Employee will have access to and make use of various trade secrets and confidential information of Employer. Employees acknowledge that breach of any of his/her agreements pertaining to the protection of confidential information, whether by contract or by law, will result in irreparable and continuing damage to Employer for which there will be no adequate remedy at law. Accordingly, Employee agrees that Employer, in addition to any other rights and remedies which Employer may possess, shall be entitled to injunctive and other equitable relief to prevent misuse of confidential information.

13. Controlling Law

This contract shall, in all respects be interpreted, constructed and enforced according to the laws of the State of Arizona. Any dispute arising under this agreement shall be heard in the Courts within the State of Arizona.

14. Amendment/Integration

Employee acknowledges and agrees that Employer has made no representations or offers other than those set forth herein. This Agreement is the final expression of the agreement between Employer and the Employee. This Agreement may be amended at any time, but only by written instrument signed by the parties hereto. This Agreement shall not under any circumstances be amended by implication.

15. Copies and the Original

Facsimile and photocopies of this Agreement shall be deemed as valid as the original.

IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the date set forth above.

**EMPLOYER:**

CBD LIFE SCIENCES, INC.

By: ___________________________

Lisa Nelson

CEO

**EMPLOYEE:**

_____________________

Lisa Nelson,

Individually

**<u>EXHIBIT A</u>**

**Conflict of Interest Guidelines of CBD Life Sciences, Inc.**

It is the policy of CBD Life Sciences, Inc. to conduct its affairs in strict compliance with the letter and spirit of the law and to adhere to the highest principles of business ethics. Accordingly, officers, employees and independent contractors must avoid activities which are in conflict, or give the appearance of being in conflict, with these principles and with the interests of the Company. The following are potentially compromising situations which must be avoided. Any exceptions must be reported to the Employer and written approval for continuation must be obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Revealing confidential information to outsiders or misusing confidential information. Unauthorized divulging of information is a violation of this policy whether or not for personal gain and whether or not harm to the Company is intended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Accepting or offering substantial gifts, excessive entertainment, favors or payments which may be deemed to constitute undue influence or otherwise be improper or embarrassing to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Initiating or approving personnel actions affecting reward or punishment of employees or applicants where there is a family relationship or is a personal or social involvement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Initiating or approving any form of personal or social harassment of employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Investing or holding outside directorship in suppliers, customers, or competing companies, including financial speculations, where such investment or directorship would influence in any manner a decision or course of action of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Borrowing from or lending to employees, customers or suppliers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Knowingly acquiring real estate of interest to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Improperly using or disclosing to the Company any proprietary information or trade secrets of any former or concurrent employer of other person or entity with whom obligations of confidentiality exist.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Unlawfully discussing prices, costs, customers, sales or markets with competing companies or their employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Making any unlawful agreement with distributors with respect to prices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Improperly using or authorizing the use of any inventions which are the subject of patent claims of any other person or entity. Each officer, employee and independent contractor must take every necessary action to ensure compliance with these guidelines and to bring problem areas to the attention of higher management for review.

**Violations of this Conflict-of-Interest policy may result in discharge without warning.**

**UNDERSTOOD AND AGREED BY EMPLOYEE:**

_____________________

Lisa Nelson

Date: May 1, 2024

## Ex1A-6

**Exhibit 6.5**

**INDEMNIFICATION AGREEMENT**

This Indemnification Agreement (the "Agreement") is entered into effective May 1, 2024, by and between CBD Life Sciences, Inc., a Nevada corporation (the "Company"), and Lisa Nelson ("Indemnitee").

WHEREAS, this Agreement is to replace in its entirety the existing indemnification agreement between the Company and Indemnitee of April 2019; and

WHEREAS, it is essential to the Company to retain and attract as directors and officers the most capable persons available; and

WHEREAS, Indemnitee is a director and or officer of the Company; and

WHEREAS, both the Company and Indemnitee recognize the increased risk of litigation and other claims currently being asserted against directors and officers of corporations; and

WHEREAS, the Articles of Incorporation and Bylaws of the Company provide for the Company to indemnify and advance expenses to its directors and officers to the fullest extent permitted under Nevada law, and the Indemnitee has been serving and continues to serve as a director and/or officer of the Company in part in reliance on the Company's Articles of Incorporation and Bylaws; and

WHEREAS, in recognition of Indemnitee's need for (i) substantial protection against personal liability based on Indemnitee's reliance on the aforesaid Certificate of Incorporation and Bylaws, (ii) specific contractual assurance that the protection promised by the Certificate of Incorporation and Bylaws will be available to Indemnitee (regardless of, among other things, any amendment to or revocation of the Certificate of Incorporation and Bylaws or any change in the composition of the Company's Board of Directors or acquisition transaction relating to the Company), and (iii) an inducement to provide effective services to the Company as a director and/or officer, the Company wishes to provide in this Agreement for the indemnification of and the advancing of expenses to Indemnitee to the fullest extent (whether partial or complete) permitted under Nevada law and as set forth in this Agreement, and, to the extent insurance is maintained, to provide for the continued coverage of Indemnitee under the Company's directors' and officers' liability insurance policies.

NOW, THEREFORE, in consideration of the above premises and of Indemnitee continuing to serve the Company directly or, at its request, with another enterprise, and intending to be legally bound hereby, the parties agree as follows:

1. The Company and Indemnitee agree that this Agreement replaces in its entirety the existing indemnification agreement between the Company and Indemnity of April 2019.

2. <u>Certain Definitions</u>:

(a) <u>Board</u>: the Board of Directors of the Company.

(b) <u>Affiliate</u>: any corporation or other person or entity that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, the person specified.

(c) <u>Change in Control</u>: shall be deemed to have occurred if (i) any "person" (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act")) (other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, and other than any person holding shares of the Company on the date that the Company first registers under the Act or any transferee of such individual if such transferee is a spouse or lineal descendant of the transferee or a trust for the benefit of the individual, his spouse or lineal descendants), is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more of the total voting power represented by the Company's then outstanding Voting Securities, or (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board and any new director whose election by the Board or nomination for election by the Company's stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority of the Board, or (iii) the stockholders of the Company approve a merger or consolidation of the Company with any other entity, other than a merger or consolidation that would result in the Voting Securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into Voting Securities of the surviving entity) at least 80% of the total voting power represented by the Voting Securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or (iv) the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company (in one transaction or a series of transactions) of all or substantially all of the Company's assets.

(d) <u>Expenses</u>: any expense, liability, or loss, including attorneys' fees, judgments, fines, ERISA excise taxes and penalties, amounts paid or to be paid in settlement, any interest, assessments, or other charges imposed thereon, any federal, state, local, or foreign taxes imposed as a result of the actual or deemed receipt of any payments under this Agreement, and all other costs and obligations, paid or incurred in connection with investigating, defending, being a witness in, participating in (including on appeal), or preparing for any of the foregoing in, any Proceeding relating to any Indemnifiable Event.

(e) <u>Indemnifiable Event</u>: any event or occurrence that takes place either prior to or after the execution of this Agreement, related to the fact that Indemnitee is or was a director or officer of the Company, or while a director or officer is or was serving at the request of the Company as a director, officer, employee, trustee, agent, or fiduciary of another foreign or domestic corporation, partnership, joint venture, employee benefit plan, trust, or other enterprise, or was a director, officer, employee, or agent of a foreign or domestic corporation that was a predecessor corporation of the Company or of another enterprise at the request of such predecessor corporation, or related to anything done or not done by Indemnitee in any such capacity, whether or not the basis of the Proceeding is alleged action in an official capacity as a director, officer, employee, or agent or in any other capacity while serving as a director, officer, employee, or agent of the Company, as described above.

(f) <u>Independent Counsel</u>: the person or body appointed in connection with Section 4.

(g) <u>Proceeding</u>: any threatened, pending, or completed action, suit, or proceeding or any alternative dispute resolution mechanism (including an action by or in the right of the Company), or any inquiry, hearing, or investigation, whether conducted by the Company or any other party, that Indemnitee in good faith believes might lead to the institution of any such action, suit, or proceeding, whether civil, criminal, administrative, investigative, or other.

(h) <u>Reviewing Party</u>: the person or body appointed in accordance with Section 4.

(i) <u>Voting Securities</u>: any securities of the Company that vote generally in the election of directors.

3. <u>Agreement to Indemnify</u>.

(a) <u>General Agreement</u>. In the event Indemnitee was, is, or becomes a party to or witness or other participant in, or is threatened to be made a party to or witness or other participant in, a Proceeding by reason of (or arising in part out of) an Indemnifiable Event, the Company shall indemnify Indemnitee from and against any and all Expenses to the fullest extent permitted by law, as the same exists or may hereafter be amended or interpreted (but in the case of any such amendment or interpretation, only to the extent that such amendment or interpretation permits the Company to provide broader indemnification rights than were permitted prior thereto). The parties hereto intend that this Agreement shall provide for indemnification in excess of that expressly permitted by statute, including, without limitation, any indemnification provided by the Company's Certificate of Incorporation, its Bylaws, vote of its shareholders or disinterested directors, or applicable law.

(b) <u>Initiation of Proceeding</u>. Notwithstanding anything in this Agreement to the contrary, Indemnitee shall not be entitled to indemnification pursuant to this Agreement in connection with any Proceeding initiated by Indemnitee against the Company or any director or officer of the Company unless (i) the Company has joined in or the Board has consented to the initiation of such Proceeding; (ii) the Proceeding is one to enforce indemnification rights under Section 6; or (iii) the Proceeding is instituted after a Change in Control (other than a Change in Control approved by a majority of the directors on the Board who were directors immediately prior to such Change in Control) and Independent Counsel has approved its initiation.

(c) <u>Expense Advances</u>. If so requested by Indemnitee, the Company shall advance (within ten business days of such request) any and all Expenses to Indemnitee (an "Expense Advance"). The Indemnitee shall qualify for such Expense Advances upon the execution and delivery to the Company of this Agreement which shall constitute an undertaking providing that the Indemnitee undertakes to repay such Expense Advances if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. Indemnitee's obligation to reimburse the Company for Expense Advances shall be unsecured and no interest shall be charged thereon.

(d) <u>Mandatory Indemnification</u>. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been successful on the merits or otherwise in defense of any Proceeding relating in whole or in part to an Indemnifiable Event or in defense of any issue or matter therein, Indemnitee shall be indemnified against all Expenses incurred in connection therewith.

(e) <u>Partial Indemnification</u>. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

(f) <u>Prohibited Indemnification</u>. No indemnification pursuant to this Agreement shall be paid by the Company on account of any Proceeding in which judgment is rendered against Indemnitee for an accounting of profits made from the purchase or sale by Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of any federal, state, or local laws.

4. <u>Reviewing Party</u>. Prior to any Change in Control, the Reviewing Party shall be any appropriate person or body consisting of a member or members of the Board or any other person or body appointed by the Board who is not a party to the particular Proceeding with respect to which Indemnitee is seeking indemnification; after a Change in Control, the Independent Counsel referred to below shall become the Reviewing Party. With respect to all matters arising after a Change in Control (other than a Change in Control approved by a majority of the directors on the Board who were directors immediately prior to such Change in Control) concerning the rights of Indemnitee to indemnity payments and Expense Advances under this Agreement or any other agreement or under applicable law or the Company's Certificate of Incorporation or Bylaws now or hereafter in effect relating to indemnification for Indemnifiable Events, the Company shall seek legal advice only from Independent Counsel selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld), and who has not otherwise performed services for the Company or the Indemnitee (other than in connection with indemnification matters) within the last five years. The Independent Counsel shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's rights under this Agreement. Such counsel, among other things, shall render its written opinion to the Company and Indemnitee as to whether and to what extent the Indemnitee should be permitted to be indemnified under applicable law. The Company agrees to pay the reasonable fees of the Independent Counsel and to indemnify fully such counsel against any and all expenses (including attorneys' fees), claims, liabilities, loss, and damages arising out of or relating to this Agreement or the engagement of Independent Counsel pursuant hereto.

5. <u>Indemnification Process and Appeal</u>.

(a) <u>Indemnification Payment</u>. Indemnitee shall be entitled to indemnification of Expenses, and shall receive payment thereof, from the Company in accordance with this Agreement as soon as practicable after Indemnitee has made written demand on the Company for indemnification, unless the Reviewing Party has given a written opinion to the Company that Indemnitee is not entitled to indemnification under applicable law.

(b) <u>Suit to Enforce Rights</u>. Regardless of any action by the Reviewing Party, if Indemnitee has not received full indemnification within thirty days after making a demand in accordance with Section 5(a), Indemnitee shall have the right to enforce its indemnification rights under this Agreement by commencing litigation in any court in the State of California or the State of Nevada having subject matter jurisdiction thereof seeking an initial determination by the court or challenging any determination by the Reviewing Party or any aspect thereof. The Company hereby consents to service of process and to appear in any such proceeding. Any determination by the Reviewing Party not challenged by the Indemnitee shall be binding on the Company and Indemnitee. The remedy provided for in this Section 5 shall be in addition to any other remedies available to Indemnitee at law or in equity.

(c) <u>Defense to Indemnification, Burden of Proof, and Presumptions</u>. It shall be a defense to any action brought by Indemnitee against the Company to enforce this Agreement (other than an action brought to enforce a claim for Expenses incurred in defending a Proceeding in advance of its final disposition) that it is not permissible under applicable law for the Company to indemnify Indemnitee for the amount claimed. In connection with any such action or any determination by the Reviewing Party or otherwise as to whether Indemnitee is entitled to be indemnified hereunder, the burden of proving such a defense or determination shall be on the Company. Neither the failure of the Reviewing Party or the Company (including its Board, independent legal counsel, or its stockholders) to have made a determination prior to the commencement of such action by Indemnitee that indemnification of the claimant is proper under the circumstances because Indemnitee has met the standard of conduct set forth in applicable law, nor an actual determination by the Reviewing Party or Company (including its Board, independent legal counsel, or its stockholders) that the Indemnitee had not met such applicable standard of conduct, shall be a defense to the action or create a presumption that the Indemnitee has not met the applicable standard of conduct. For purposes of this Agreement, the termination of any claim, action, suit, or proceeding, by judgment, order, settlement (whether with or without court approval), conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification is not permitted by applicable law.

6. <u>Indemnification for Expenses Incurred in Enforcing Rights</u>. The Company shall indemnify Indemnitee against any and all Expenses that are incurred by Indemnitee in connection with any action brought by Indemnitee for (i) indemnification or advance payment of Expenses by the Company under this Agreement or any other agreement or under applicable law or the Company's Certificate of Incorporation or Bylaws now or hereafter in effect relating to indemnification for Indemnifiable Events, and/or (ii) recovery under directors' and officers' liability insurance policies maintained by the Company, but only in the event that Indemnitee ultimately is determined to be entitled to such indemnification or insurance recovery, as the case may be. In addition, the Company shall, if so requested by Indemnitee, advance the foregoing Expenses to Indemnitee, subject to and in accordance with Section 3(c).

7. <u>Notification and Defense of Proceeding</u>.

(a) <u>Notice</u>. Promptly after receipt by Indemnitee of notice of the commencement of any Proceeding, Indemnitee shall, if a claim in respect thereof is to be made against the Company under this Agreement, notify the Company of the commencement thereof; but the omission so to notify the Company will not relieve the Company from any liability that it may have to Indemnitee, except as provided in Section 7(c).

(b) <u>Defense</u>. With respect to any Proceeding as to which Indemnitee notifies the Company of the commencement thereof, the Company will be entitled to participate in the Proceeding at its own expense and except as otherwise provided below, to the extent the Company so wishes, it may assume the defense thereof with counsel reasonably satisfactory to Indemnitee. After notice from the Company to Indemnitee of its election to assume the defense of any Proceeding, the Company shall not be liable to Indemnitee under this Agreement or otherwise for any Expenses subsequently incurred by Indemnitee in connection with the defense of such Proceeding other than reasonable costs of investigation or as otherwise provided below. Indemnitee shall have the right to employ legal counsel in such Proceeding, but all Expenses related thereto incurred after notice from the Company of its assumption of the defense shall be at Indemnitee's expense unless: (i) the employment of legal counsel by Indemnitee has been authorized by the Company, (ii) Indemnitee has reasonably determined that there may be a conflict of interest between Indemnitee and the Company in the defense of the Proceeding, (iii) after a Change in Control (other than a Change in Control approved by a majority of the directors on the Board who were directors immediately prior to such Change in Control), the employment of counsel by Indemnitee has been approved by the Independent Counsel, or (iv) the Company shall not in fact have employed counsel to assume the defense of such Proceeding, in each of which cases all Expenses of the Proceeding shall be borne by the Company. The Company shall not be entitled to assume the defense of any Proceeding brought by or on behalf of the Company or as to which Indemnitee shall have made the determination provided for in (ii), (iii) and (iv) above.

(c) <u>Settlement of Claims</u>. The Company shall not be liable to indemnify Indemnitee under this Agreement or otherwise for any amounts paid in settlement of any Proceeding effected without the Company's written consent, such consent not to be unreasonably withheld; provided, however, that if a Change in Control has occurred (other than a Change in Control approved by a majority of the directors on the Board who were directors immediately prior to such Change in Control), the Company shall be liable for indemnification of Indemnitee for amounts paid in settlement if the Independent Counsel has approved the settlement. The Company shall not settle any Proceeding in any manner that would impose any penalty or limitation on Indemnitee without Indemnitee's written consent. The Company shall not be liable to indemnify the Indemnitee under this Agreement with regard to any judicial award if the Company was not given a reasonable and timely opportunity, at its expense, to participate in the defense of such action; the Company's liability hereunder shall not be excused if participation in the Proceeding by the Company was barred by this Agreement.

8. <u>Establishment of Trust</u>. In the event of a Change in Control (other than a Change in Control approved by a majority of the directors on the Board who were directors immediately prior to such Change in Control) the Company shall, upon written request by Indemnitee, create a Trust for the benefit of the Indemnitee and from time to time upon written request of Indemnitee shall fund the Trust in an amount sufficient to satisfy any and all Expenses reasonably anticipated at the time of each such request to be incurred in connection with investigating, preparing for, participating in, and/or defending any Proceeding relating to an Indemnifiable Event. The amount or amounts to be deposited in the Trust pursuant to the foregoing funding obligation shall be determined by the Independent Counsel. The terms of the Trust shall provide that (i) the Trust shall not be revoked or the principal thereof invaded without the written consent of the Indemnitee, (ii) the Trustee shall advance, within ten business days of a request by the Indemnitee, any and all Expenses to the Indemnitee (and the Indemnitee hereby agrees to reimburse the Trust under the same circumstances for which the Indemnitee would be required to reimburse the Company under Section 3(c) of this Agreement), (iii) the Trust shall continue to be funded by the Company in accordance with the funding obligation set forth above, (iv) the Trustee shall promptly pay to the Indemnitee all amounts for which the Indemnitee shall be entitled to indemnification pursuant to this Agreement or otherwise, and (v) all unexpended funds in the Trust shall revert to the Company upon a final determination by the Independent Counsel or a court of competent jurisdiction, as the case may be, that the Indemnitee has been fully indemnified under the terms of this Agreement. The Trustee shall be chosen by the Indemnitee. Nothing in this Section 8 shall relieve the Company of any of its obligations under this Agreement. All income earned on the assets held in the Trust shall be reported as income by the Company for federal, state, local, and foreign tax purposes. The Company shall pay all costs of establishing and maintaining the Trust and shall indemnify the Trustee against any and all expenses (including attorneys' fees), claims, liabilities, loss, and damages arising out of or relating to this Agreement or the establishment and maintenance of the Trust.

9. <u>Non-Exclusivity</u>. The rights of Indemnitee hereunder shall be in addition to any other rights Indemnitee may have under the Company's Certificate of Incorporation, Bylaws, applicable law, or otherwise; provided, however, that this Agreement shall supersede any prior indemnification agreement between the Company and the Indemnitee. To the extent that a change in applicable law (whether by statute or judicial decision) permits greater indemnification than would be afforded currently under the Company's Certificate of Incorporation, Bylaws, applicable law, or this Agreement, it is the intent of the parties that Indemnitee enjoy by this Agreement the greater benefits so afforded by such change.

10. <u>Liability Insurance</u>. To the extent the Company maintains an insurance policy or policies providing general and/or directors' and officers' liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any Company director or officer.

11. <u>Period of Limitations</u>. No legal action shall be brought and no cause of action shall be asserted by or on behalf of the Company or any Affiliate of the Company against Indemnitee, Indemnitee's spouse, heirs, executors, or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, or such longer period as may be required by state law under the circumstances. Any claim or cause of action of the Company or its Affiliate shall be extinguished and deemed released unless asserted by the timely filing and notice of a legal action within such period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of action, the shorter period shall govern.

12. <u>Amendment of this Agreement</u>. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be binding unless in the form of a writing signed by the party against whom enforcement of the waiver is sought, and no such waiver shall operate as a waiver of any other provisions hereof (whether or not similar), nor shall such waiver constitute a continuing waiver. Except as specifically provided herein, no failure to exercise or any delay in exercising any right or remedy hereunder shall constitute a waiver thereof.

13. <u>Subrogation</u>. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such rights.

14. <u>No Duplication of Payments</u>. The Company shall not be liable under this Agreement to make any payment in connection with any claim made against Indemnitee to the extent Indemnitee has otherwise received payment (under any insurance policy, Bylaw, or otherwise) of the amounts otherwise indemnifiable hereunder.

15. <u>Binding Effect</u>. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors (including any direct or indirect successor by purchase, merger, consolidation, or otherwise to all or substantially all of the business and/or assets of the Company), assigns, spouses, heirs, and personal and legal representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation, or otherwise) to all, substantially all, or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. The indemnification provided under this Agreement shall continue as to Indemnitee for any action taken or not taken while serving in an indemnified capacity pertaining to an Indemnifiable Event even though he may have ceased to serve in such capacity at the time of any Proceeding.

16. <u>Severability</u>. If any provision (or portion thereof) of this Agreement shall be held by a court of competent jurisdiction to be invalid, void, or otherwise unenforceable, the remaining provisions shall remain enforceable to the fullest extent permitted by law. Furthermore, to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of this Agreement containing any provision held to be invalid, void, or otherwise unenforceable, that is not itself invalid, void, or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, void, or unenforceable.

17. <u>Governing Law</u>. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of California applicable to contracts made and to be performed in such State without giving effect to its principles of conflicts of laws.

18. <u>Notices</u>. All notices, demands, and other communications required or permitted hereunder shall be made in writing and shall be deemed to have been duly given if delivered by hand, against receipt, or mailed, postage prepaid, certified or registered mail, return receipt requested, and addressed to the Company at:

CBD Life Sciences, Inc.

10953 N. Frank Lloyd Wright Blvd.

Suite 108

Scottsdale, AZ 85259

and to Indemnitee at:

Lisa Nelson

10953 N. Frank Lloyd Wright Blvd.

Suite 108

Scottsdale, AZ 85259

Notice of change of address shall be effective only when given in accordance with this Section 18. All notices complying with this Section 18 shall be deemed to have been received on the date of hand delivery or on the third business day after mailing.

19. <u>Counterparts</u>. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Agreement as of the day specified above.

**Company**

CBD Life Sciences, Inc.

By:<u> </u>

Lisa Nelson, CEO

**Indemnitee**

<u> </u>

Lisa Nelson,

Individually

## Ex1A-6

**Exhibit 6.6**

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$1,913.07 $1,857.53 $1,803.13 $1,751.00 $1,700.00 Monthly Rate MINIMUM RENT Term Months 49 through 63 Term Months 37 throunh 48 Term Months 25 throunh 36 Term Months 13 throunh 24 Term Months 1 throu Ƒ h 12\* Months of Term TERM SHOPPING CENTER LEASE AGREEMENT This Lease is made by and between ECG New Palo Verde LLC, an Arizona limited liability company ("Landlord"), and LBC Bioscience, Inc . , an Arizona corporation ("Tenant"), as of the date set forth below in Section 1 . 1 . In consideration of their respective agreements contained herein, Landlord hereby leases to Tenant, subject to all matters of record, and Tenant hereby leases from Landlord, those Premises described below in Section 1 . 3 . 1.1 1.2 1.3 DATE: TENANT'S TRADE NAME: PREMISES: 1.4 1.5 FLOOR AREA OF PREMISES: TERM: 1.6 RENT COMMENCEMENT DATE: SECTION 1 - BASIC LEASE PROVISIONS March 17, 2021 The CBD Vault (See Section 5) 10953 N. Frank Lloyd Wright Blvd, Unit 108 Scottsdale, AZ 85259 Exhibit "A" attached hereto and made a part hereof depicts the entire Shopping Center as of the date of this Lease . The approximate location of the Premises in the Shopping Center is indicated by label, arrow, and/or cross - hatching on Exhibit "A" (See Section 2) 1,360 rentable square feet Sixty - three (63) months from and after the Rent Commencement Date, plus any partial month at the beginning of the Term (See Section 2) . Option(s) to Extend: One (1) additional three (3) year option(s) to extend the Term (see "Lease Rider"). The earlier of : (i) the date on which Tenant opens for business at the Premises, or (ii) sixty (60) days from the date that the Premises are delivered to Tenant (the "Rent Commencement Date") (See Section 2) . Within ten (10) days following Landlord's request, Landlord and Tenant shall execute a memorandum documenting the Rent Commencement Date and the expiration date of the Term . 1.7 MINIMUM RENT (See Section 3) \*Landlord agrees to abate Tenant's obligation to pay : (i) one hundred percent (100 %) of Minimum Rent for and during the initial three (3) full calendar months the Term (the "Minimum Rent Full Abatement Period") ; and (ii) fifty percent (50 %) of Minimum Rent for and during the fourth (4 th) and fifth (5 '") full calendar months of the Term (the "Minimum Rent Partial Abatement Period") . During months of the Term that are not a part of the Minimum Rent Full Abatement Period, Tenant shall pay Minimum Rent on the first day of each calendar month in accordance with Section 3 of this Lease ; except that during the months of the Term that are part of the Minimum Rent Partial Abatement Period, Tenant shall pay fifty percent (50 %) of the Minimum Rent on the first day of each calendar month in accordance with Section J of this Lease . 1.8 1.9 REAL ESTATE TAX & INSURANCE ESTIMATE COMMON AREA EXPENSE ESTIMATE: 1.10 1.11 SECURITY DEPOSIT: PERMITTED USE: $1.85 per square foot per year (initial estimate) (See Section 3) $3.65 per square foot per year (initial estimate) (See Section 4) Tenant shall not be obligated to pay Real Estate Taxes, Insurance or Common Area Expenses prior to the Rent Commencement Date . Tenant shall be obligated to pay Real Estate Taxes, Insurance or Common Area for the Premises commencing on the Rent Commencement Date and for the remainder of the Term . $2,375.08 (See Section 25) Tenant shall have the right to use the Premises for a retail store selling commercially manufactured products and supplements containing Cannabidiol (CBD), and for no other purpose, subject to the following limitations : (i) no products or supplements shall contain any Cannabis derived ingredients other than CBD, (ii) Tenant shall not sell or provide any products or supplements that are ready - to - consume coffee or tea beverages, and (iii) in no event shall Tenant's total gross sales from the Premises of all coffee and tea products and supplements for any calendar year exceed ten percent (10 %) of Tenant's total gross sales from the Premises of all products and supplements for the same calendar year (See Sei . tion 5) . Tenant: 't Guarantor: 7/ \ f Guarantor: Palo Verde Shopping Center - LBC Bioscience, lnc. (tenant)

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1.12 1.13 1.14 1.15 1.16 1.17 GUARANTOR(S): PAYMENT UPON EXECUTION: TENANTS ADDRESS FOR NOTICE PURPOSES PRIOR TO TENANT'S POSSESSION OF THE PREMISES LANDLORD'S ADDRESS: BROKERS EXHIBITS AND RIDERS Tom Nelson and Lisa Nelson, a married couple . Concurrently herewith and as a condition to the effectiveness of this Lease, the Guarantor(s), if any, listed in this Section 1 . 12 shall execute the Guaranty of Lease attached hereto as the Guaranty Rider, pursuant to which the Guarantor(s) shall personally, jointly and severally guaranty the payment of rent and the performance of all other obligations under this Lease (See "Guaranty Rider'') . Concurrently with the execution and delivery of the Lease, Tenant shall pay to Landlord the Security Deposit of $2 , 375 . 08 plus $2 , 375 . 08 as advance payment of Minimum Rent for the first full calendar month of unabated Minimum Rent due and payable after the Minimum Rent Partial Abatement Period, and estimated Real Estate Taxes, Insurance, Common Area Expenses due and payable for the first full calendar month of the Temn following the Rent Commencement Date, together with applicable rental tax . 11529 N. 12oth Street Scottsdale, AZ. 85259 Rent Payments: ECG New Palo Verde LLC 5363 Balboa Blvd., Suite 227 Encino, CA 91316 Notices: Ethan Christopher Arizona 6750 W. Peoria, Suite 110 Peoria, AZ. 85345 Attn: Palo Verde Manager With a copy to: Ethan Christopher Arizona 5363 Balboa Blvd., Suite 227 Encino, CA 91316 Attn: Mr. Arie Browne Landlord's Real Estate Broker: Cushman & Wakefield represents Landlord exclusively (See Section 33.16) Tenant's Real Estate Broker: None represents Tenant exclusively (See Section 33.16) EXHIBIT Exhibit "A" Exhibit "B" Exhibit "C" Exhibit "D" Lease Rider Guaranty Rider EXHIBIT/RIDER DESCRIPTIONS Site Plan - Shopping Center and Premises Sign Criteria Landlord Work/Tenant Improvement Work Rules and Regulations Option to Extend Guaranty of Lease Each of the Exhibits and Rider(s) referred lo in this Lease and attached hereto shall be deemed to be incorporated into and made a part of this Lease. SECTION 2 • LEASE TERM/PREMISES 2.1 Commencement of Terrr/Delivery of Possession. The Term of this Lease ("Term") shall begin on the Rent Commencement Date first set forth above in Section 1 . 6 and, unless sooner temninated as hereinafter provided, shall end on the last day of the last calendar month of the Temn as defined in Section 1 . 5 above . All temns, covenants, conditions, representations and warranties shall be binding upon the parties from and after the date of the execution and delivery of this Lease, except for the payment of Minimum Rent which shall commence on the Rent Commencement Date pursuant to Section 1 . 6 . Unless otherwise specifically stated in this Lease, the Temn of this Lease shall include the original Temn and any extension, renewal or holdover thereof, "year'' shall mean a calendar year commencing each January 1 st and ending on December 31 ''·, and "lease year" shall mean each twelve month period during the Term commencing on (i) the Rent Commencement Date if the Rent Commencement Date falls on the first day of a calendar month or, (ii) the first day of the first full month following the Rent Commencement Date if the Rent Commencement Date falls on any day other than the first day of a calendar month . Landlord agrees to deliver to Tenant, and Tenant agrees to accept from Landlord, possession of the Premises immediately upon notice from Landlord that the Premises are available for Tenant . Such notice, in any case where Landlord is required to do work in the Premises, shall be deemed the equivalent of notice from Landlord that Landlord's Work in the Premises has been substantially completed in accordance with Exhibit "C" , such that Tenant's contractor may commence the construction of Tenant's Work as described in Exhibit "C" or commence its business operations at the Premises . Landlord's notice shall be conclusive and binding upon the parties hereto, it being expressly understood and agreed that Landlord may elect not to install or complete all items of Landlord's Work until Tenant has completed Tenant's Work to the point where Landlord may reenter the Premises and complete all items of Landlord's Work . In the event Tenant has, at any lime prior to or in lieu of notice from Landlord that the Premises are ready for occupancy, entered the Premises for purposes of perfomning any of Tenant's Work as described in Exhibit "C" . or opening for business at the Premises, such entry shall be deemed equivalent to Landlord's delivery of notice and Tenant's acceptance of possession of the Premises as of the dale of such entry . Landlord makes no warranty or representation whatsoever as to the date Landlord will deliver possession of the Premises to Tenant, and Tenant shall have no remedy hereunder or at law or in equity for Landlord's failure to timely complete Landlord's Work, if any, or to timely deliver possession of the Premises . Tenant acknowledges that Tenant has inspected the Premises, is familiar with its condition and accepts the same "as is" and in its present condition, subject to all applicable laws, statutes, zoning restrictions, ordinances, rules, regulations and requirements of any Tenant: -- lv - 1 Guarantor: - ;/....('/ ' Guarantor1)! Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant) <:. ,

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duly constituted public authority having jurisdiction over the Premises, the certificate of occupancy issued for the Premises, and covenants and restrictions and all matters of record, that are now or hereafter applicable to the construction or use of the Premises, and Landlord shall not be obligated to do any further construction work or to make any additional improvements in the Premises, except for "Landlord's Work," if any, described in Exhibit "C" . Tenant further acknowledges that : (a) it has been advised by Landlord to satisfy itself with respect to the condition of the Premises (including, but not limited to the electrical, plumbing, HVAC and fire sprinkler systems, security, environmental condition, and compliance with all applicable federal, state and local laws, rules and regulations), and the suitability of the Premises for Tenant's intended use, (b) Tenant has made such investigations as it deems necessary with reference to such matters and assumes all responsibility therefor as the same relate to its occupancy of the Premises, and (c) neither Landlord, Landlord's agents, nor brokers have made any oral or written representations or warranties with respect to said matters other than as may specifically be set forth in this Lease . 2.2 Tenant's Work/Opening for Business. Tenant shall commence and complete Tenant's Work and open for business not later than the Rent Commencement Date . Prior to the Rent Commencement Date, Tenant, at its sole cost and expense, shall perform all of Tenant's Work as set forth in Exhibit "C" and shall equip the Premises with all trade fixtures and personal property suitable or appropriate for the regular and normal operation of the type of business in which Tenant is engaged . 2.3 Shopping Center Site Plan . Tenant acknowledges that Exhibit "A" is preliminary site plan for leasing purposes and is intended only as a general description (but is not a representation, covenant or warranty) of improvements that may be a part of the Shopping Center and that this Lease and Tenant's rights hereunder are subject to all matters recorded against title of the Shopping Center . The existence, location and/or dimensions of specific buildings, improvements, parking spaces, pathways, entrances and exits depicted on Exhibit "A" are not intended to be (nor should they be) relied upon as same are subject to change, modification and removal by Landlord and/or other parties, and the inclusion of specific tenants on Exhibit "A" should not in any way to be construed as a representation, covenant or warranty as to the opening or continued operation of any such tenant . SECTION 3 • RENT 3.1 Minimum Rent . Tenant agrees to pay to Landlord for the use and occupancy of the Premises, at the times and in the manner hereinafter provided, the Minimum Rent specified in Section 1 . 7 above, as the same may be adjusted from time to time as provided elsewhere in this Lease . Minimum Rent shall be payable in advance on the first day of each calendar month, without recoupment, setoff, deduction or demand of any kind, commencing upon the Rent Commencement Date . If the Rent Commencement Date falls on a day of the month other than the first day of the calendar month, then the rental due for such fractional month shall be prorated on the basis of a thirty (30) day month (based upon the first monthly rate set forth in Section 1 . 7 that is greater than zero) and the next full calendar month of the Term shall be deemed to be the first month following the Rent Commencement Date for purposes of determining when Minimum Rent increases shall occur . All other payments required to be made under the terms of this Lease which require proration on a time basis shall be prorated based upon a thirty (30) day month . 3.2 Intentionally Deleted. 3.3 Statement of Sales. Tenant shall furnish or cause to be furnished to Landlord a statement of Tenant's monthly "gross sales" within ten (10) days after the close of each calendar month and a statement of Tenant's annual "gross sales" within thirty (30) days after the close of each calendar year . The term "gross sales" as used herein means the entire amount charged, whether wholly or partly for cash, on credit or otherwise, for all merchandise sold, and all charges made for services performed or for the extension of credit in, at or from the Premises, or through the substantial use of the Premises, by Tenant or anyone acting on Tenant's behalf or under a sublease, license, concession or other agreement from Tenant . ! 3.4 Taxes and Insurance Expenses. Commencing upon the Rent Commencement Date, and for the balance of the Term, Tenant shall pay to Landlord amounts designated herein as real property taxes and insurance costs and expenses allocable to the Premises . Said amounts shall mean all real property taxes levied and the costs and expenses to Landlord of insurance carried by Landlord pursuant to Section 7 . 5 for the Shopping Center (excluding Tenant's leasehold improvements) which are allocable to the Premises as provided herein . During any portion of the Term which is less than a full taxable fiscal year or less than a full period for which Landlord has obtained such insurance, Tenant's obligation for such real property taxes and insurance costs and expenses shall be prorated on a daily basis . 3.5 Definition of Real Property Taxes. As used herein, the term "real property taxes" shall include general real property and improvement taxes, any form of assessment, re - assessment, license fee, license tax, business license tax, gross receipts tax, commercial rental tax (which shall be payable by Tenant based upon the tax assessed for Tenant's Rent and shall be payable on a monthly basis), in lieu tax, levy, charge, penalty, or similar imposition, imposed by any authority having the direct power to tax, including any city, county, state or federal government, or any school, agricultural, lighting, drainage or other improvement or special assessment district thereof, or any agency or other public body, as against any legal or equitable interest of Landlord in the Shopping Center, and all costs and expenses reasonably incurred by Landlord in protesting any or all of the foregoing . With respect to any assessment which may be levied against or upon the Shopping Center and which under the laws then in force may be evidenced by improvement or other bonds, or may be paid in annual installments, there shall be included within the definition real property taxes with respect to any tax fiscal year only the amount currently payable on such bonds, including interest, for such tax fiscal year, or the current annual installment for such tax fiscal year . In the event Landlord contests or negotiates with any governmental authority the amount or validity of any real estate tax and/or assessment and a refund or a reduction therein is obtained, Tenant (provided it has otherwise paid and performed all of its obligations under this Lease) shall receive the pro rata benefit of such refund or reduction, less the costs and attorneys' fees incurred in obtaining such refund or reduction ; and the amount of real estate taxes and assessments paid by Tenant for the year to which said refund or reduction applies shall be adjusted to reflect said refund or reduction, less said costs and attorneys' fees . In the event Landlord contests the amount or validity of any such tax and/or assessment and no refund or reduction therein is obtained, Tenant agrees to reimburse Landlord on a pro rata basis, as part of its share of real estate taxes and assessments pursuant to this Section 3 . 5 , all sums Landlord may have expended for attorneys' fees and costs in protesting and/or negotiating the amount or validity of any such valuation, tax and/or assessment and/or valuation of any portion of the Shopping Center and/or its improvements . The right to protest any such valuation, tax and/or assessment shall remain exclusively with Landlord . 3.6 Allocation of Real Property Taxes. In the event that the Premises are not separately assessed for real property tax purposes, Tenant's pro rata share of real property taxes allocable to the Premises shall be a fractional portion of all real property taxes assessed against or allocable to Landlord's interest in the Shopping Center, the numerator of which shall be the Floor Area (as defined in Section 4 . 6) of the Premises and the denominator of which shall be the total Floor Area of the Shopping Center . In the event that the Premises are separately assessed for real property tax purposes, Tenant shall pay the real property taxes for the Premises, plus Tenant's pro rata share of real property taxes for the Common Areas which shall be a fractional portion of all real property taxes assessed against or allocable to the Common Areas, the numerator of which shall be the Floor Area of the Premises and the denominator of which shall be the Floor Area of the Shopping Center . Tenant:µ Guarantor: ;I_/ \) Guaranto Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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3.7 Insurance Allocation. In the event that the Premises are not separately appraised for insurance purposes, Tenant's pro rata share of said insurance costs and expenses shall be a fractional portion of all insurance costs and expenses allocable to Landlord's insurance programs relative to the Shopping Center, the numerator of which shall be the Floor Area of the Premises and the denominator of which shall be the Floor Area of the Shopping Center . In the event that the Premises are separately appraised for insurance purposes, Tenant shall pay the insurance costs for the Premises, plus Tenant's pro rata share of insurance costs and expenses for the Common Areas which shall be a fractional portion of all insurance costs and expenses allocable to Landlord's insurance programs relative to the Common Areas, the numerator of which shall be the Floor Area contained of the Premises and the denominator of which shall be the total ground level Floor Area of the Shopping Center . 3.8 Tax and Insurance Fund . Along with Minimum Rent, Tenant shall pay to Landlord on account of such real property taxes and insurance costs on the first day of each calendar month of the Term such amounts as Landlord shall from time to time estimate and so notify Tenant are required (the initial estimate being set forth in Section 1 . 8) for Landlord to establish a fund (which shall not bear interest) with which to pay such expenses prior to delinquency . Landlord shall deliver to Tenant at least once annually a statement setting forth the actual real property taxes and insurance costs allocable to the Premises and the basis for computing the same, and if such actual costs and expenses exceed Tenant's payments hereunder for the applicable year, Tenant shall pay the deficiency to Landlord within ten (10) days after receipt of such statement . If payments made by Tenant for said year exceed such actual costs and expenses, Tenant shall be entitled to a credit against the next such payment(s) of such costs and expenses coming due under this Section 3 . 8 or to a refund if this Lease has expired or has terminated . 3.9 Other Taxes. Any excise, transaction, sales or privilege tax (except income tax) now or hereafter levied or imposed upon Landlord on account of, attributed to or measured by rent or Other Charges payable by Tenant hereunder shall be paid by Tenant to Landlord along with said rent and Other Charges otherwise payable by Tenant. 3.10 Other Charges. Tenant shall pay to Landlord when due, as rent or additional rent, without recoupment, setoff, deduction or demand of any kind, all sums of money required to be paid pursuant to this Section 3 and all other sums of money or charges required to be paid by Tenant under this Lease, together with all interest and penalties that may accrue thereon in the event of Tenant's failure to pay the same as herein provided, and all other charges, costs, fees (including, without limitation, attorneys' fees and expert witness fees) and expenses which Landlord may suffer or incur, and any and all other sums which may become due, by reason of any default of Tenant or failure on Tenant's part to comply with the agreements, terms, covenants and conditions of this Lease on Tenant's part to be performed (herein sometimes called "Other Charges") . If such Other Charges are not paid at the time provided in this Lease, they shall nevertheless be collectible as additional rent hereunder with the next monthly installment of Minimum Rent thereafter falling due, without recoupment, setoff, deduction or demand of any kind, and Landlord shall have with respect thereto all rights and remedies herein provided in the event of nonpayment of rent ; provided, however, in the event the first or last year of the Term should be shorter or longer than twelve (12) months, any Other Charges for such year which are determined and billed by Landlord on a calendar year basis shall be prorated on the basis of the number of full calendar months in such year, plus any additional days prorated for any fractional month . All Other Charges that are subject to year - end reconciliation and/or adjustment shall be so reconciled and/or adjusted on a calendar year basis after the expiration of each and every calendar year or partial calendar year during the Term ; provided, however, nothing herein shall be construed to preclude Landlord from making subsequent reconciliations and/or adjustments based upon subsequent charges actually incurred by, or subsequent credits actually granted to, Landlord following the initial year - end reconciliation and/or adjustment therefor . If Tenant shall fail to pay, when the same is due and payable, any rent or Other Charge, then in addition to any applicable late payment charge, such unpaid amounts shall bear interest at eighteen percent (18 %) per annum from the date due to the date of payment . 3.11 Place of Payment. All rental and Other Charges shall be paid by Tenant to Landlord at the address specified for service of notices upon Landlord in Section 1 . 15 of this Lease, or at such other place as may from time to time be designated by Landlord in writing at least ten (10) days prior to the next ensuing payment date ; provided, however, in the event Landlord has given Tenant notice of default in the payment of rental or Other Charges hereunder, and such notice designates therein a new place and/or manner of making such payments, then, effective immediately upon the giving of such notice of default, all subsequent payments shall be made in the manner and at such place as Landlord shall designate in said notice until such time as the default has been fully cured to Landlord's satisfaction . In such event, payments made in any manner or at any place other than what is designated in such notice (i) shall not be deemed to have been legally tendered to or accepted by Landlord, (ii) shall not constitute nor in any way be construed as an accord and satisfaction or as a waiver by Landlord of any of its rights or remedies hereunder or at law or in equity (whether statutory or otherwise) arising as a result of such default, and (iii) shall not be used to defeat or otherwise affect in any way any of Landlord's remedies lo recover possession of the Premises including, but not limited to, any forcible entry and/or detainer action theretofore or thereafter commenced by Landlord relative to such default . SECTION 4 - COMMON AREAS/OPERATIONAL EXPENSES 4.1 Common Areas Defined. The "Common Areas" shall consist of all areas and facilities in the Shopping Center which shall not be within the exterior walls of the premises of a tenant or occupant and which shall from time to time be available for the joint benefit of all tenants and occupants of the Shopping Center and their employees, customers, licensees and invitees, including without limitation all parking areas, parking structures, driveways, sidewalks, walkways, malls, service corridors, loading platforms, canopies, elevators, escalators, washrooms, lounges and shelters, if any . 4.2 Use of Common Areas. Tenant and its employees, customers, licensees and invitees are, except as otherwise specifically provided in this Lease, privileged to use the parking and other Common Areas in common with other persons during the Term while such employees, customers, licensees and invitees are shopping or otherwise conducting permitted business in the Shopping Center. 4.3 Common Area Expenses. Tenant shall pay to Landlord its pro rata share of the Common Area Expenses as defined herein. Landlord shall keep or cause to be kept said Common Areas in a clean condition, properly lighted and landscaped and shall repair any damage thereto, as Landlord deems appropriate in its sole and absolute discretion, but all costs and expenses (including also, at Landlord's election, appropriate reserves) in connection with said Common Areas (collectively hereinafter "Common Area Expenses") shall be charged and prorated in the manner hereinafter set forth . Common Area Expenses shall be deemed to include, but not be limited to, all sums expended or incurred in connection with the use, ownership, management, cleaning, lighting, decorating, operation, maintenance, repair, restoration, replacement and renovation of said Common Areas ; janitorial services ; sweeping ; cleaning ; trash collection and removal ; painting (including but not limited to the painting of exterior faces of exterior building walls) ; resurfacing ; restriping ; maintenance, repair, replacement and/or substitution of : sprinkler systems ; doors ; sidewalks, curbs and parking areas ; Shopping Center signs and other identification signs ; planting and landscaping ; fountains, courts, stages and canopies, if any ; fire protection systems, security alarm systems, lighting systems, storm drainage systems and any other utility systems ; sound systems, music program equipment and loudspeakers ; and all other such tangible items from time to time associated with the Common Areas . Common Area Expenses shall also include but not be limited to lighti ,other utilities ; the cost of leasing identification signs ; the Lease - Tenant: - d?t' - (Guarantor:£/V Guaranto Palo Verde Shopping Center - LBC Bioscience, lnc. (tenant)

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cost of seasonal decorations of the Shopping Center ; personnel and management services deemed necessary by Landlord in carrying out its obligations under this Section 4 , including without limitation, the cost of security guards, if any ; real and personal property taxes and assessments on the improvements and land comprising said Common Areas as reasonably allocable by Landlord to the extent not paid by Tenant pursuant to Section 3 ; depreciation on maintenance and operating machinery and equipment or rental paid for such machinery and equipment ; compliance with all environmental, remedial and other laws, ordinances, rules, regulations, requirements, directions, guidelines and orders now or hereafter in effect from time to time ; any assessments or expenses payable under any covenants, conditions or restrictions now or hereafter encumbering the Shopping Center ; liability and property damage insurance to the extent not paid by Tenant pursuant to Section 3 ; deductibles and self - insured retentions for liability and property damage insurance ; at Landlord's election, amounts as and for appropriate reserves for the replacement and/or substitution of those items as provided herein and in Section 4 . 4 ; and a reasonable allowance for Landlord's supervision of said Common Areas in an amount equal to five percent (5 %) of the total rental and Other Charges for each year . Landlord may cause any or all of said services to be provided by an independent contractor or contractors . Should Landlord make available additional land for parking or other Common Area purposes, then Common Area Expenses shall also include all expenses incurred in connection with said additional land . Notwithstanding anything to the contrary contained in Section 9 hereof, Landlord may at its option arrange for the collection or removal of trash from the Shopping Center for and on behalf of any tenants or occupants, and may also treat all real property taxes and insurance costs for the Shopping Center as part of Common Area Expenses . In the event such option is exercised, the cost thereof shall be included in, charged and prorated to said occupants as additional Common Area Expenses . The inclusion of improvements, facilities and services in this Section 4 . 3 shall not be deemed to impose an obligation upon Landlord to either have said improvements or facilities or to provide the listed services. 4.4 other Expenses. Tenant shall pay to Landlord Tenant's pro rata share of the following additional expenses as a part of and in the same manner as if the same were Common Area Expenses (the term "Common Area Expenses" shall for all purposes under this Lease be deemed to also include all other Expenses pursuant to this Section 4 . 4) : all costs and expenses associated with capital improvements, repairs, replacements and renovations, amortized over their respective useful lives, together with interest on the unamortized costs and expenses at the rate of eighteen percent (18 %) per annum ; real property taxes and insurance costs ; all costs and expenses associated with the maintenance and repair of exterior walls and roofs, including also, at Landlord's election, an annual reserve in an amount estimated by Landlord for the replacement of such items, and, also at Landlord's election, all costs and expenses associated with any maintenance agreement entered into by Landlord for the regular servicing and/or maintenance of any HVAC systems in the Shopping Center . Exterior walls shall not include store fronts ; glass ; window frames or cases ; doors or door frames, which shall be the responsibility of Tenant to maintain, repair and replace, as necessary . 4.5 Method of Payment. (a) As of the Rent Commencement Date, but subject to adjustment as provided in this Section 4.5/a) . Tenant shall pay on the first day of each calendar month of the Term an amount equal to its monthly Common Area Expense Estimate rate per square foot of the Floor Area of the Premises as set forth in Section 1 . 9 of the Lease . The Common Area Expense Estimate rate per square foot may be adjusted by Landlord at the end of any quarter on the basis of Landlord's experience and reasonably anticipated costs . (b) Landlord shall use reasonable efforts to deliver to Tenant within 90 days after the expiration of each yeara statement covering the year just expired, showing the total Common Area Expenses, the amount ofTenant's pro rata share of such Common Area Expenses for such year and the payment made by Tenant during such year as set forth in Section 4 . 5 /a) . Tenant's pro rata share of Common Area Expenses for each year shall be a fractional portion of all Common Area Expenses, the numerator of which shall be the Floor Area contained of the Premises and the denominator of which shall be the total Floor Area of the Shopping Center . Notwithstanding the foregoing, if Landlord determines in its sole and absolute discretion that it is inequitable to apportion and prorate any item included in Common Area Expenses as provided above, the Landlord may apportion and prorate such item on the basis of usage or other equitable considerations . If Tenant's pro rata share of such Common Area Expenses for the year exceeds Tenant's payments so made, Tenant shall pay Landlord the deficiency within ten (10) days after receipt of such statement . If said payments exceed Tenant's pro rata share of such Common Area Expenses, Tenant shall be entitled to a credit against the next such payment(s) coming due under Section 4 . 5 (a) or to a refund if this Lease has expired . 4.6 Floor Area. The term "Floor Area" shall include all areas for the exclusive use and occupancy by a tenant measured from the exterior surface of exterior walls (and from the extensions thereof, in the case of openings) and from the center of walls dividing the Premises from other premises, and shall also include the vestibule area (if any) designated by Landlord lying immediately outside each tenant's front entryway and all other areas lying within the lease line designated by Landlord from time to time . Floor Area shall not include the second level of any multilevel stock areas, truck tunnels, docks, areas for truck tunnels, areas for docks, areas for truck loading and unloading (to the extent such facilities lie outside exterior building lines), nor any utility and/or mechanical equipment areas . No deduction or exclusion shall be made from Floor Area by reason of columns, stairs, elevators, escalators, or other interior construction or equipment within the Premises or other premises . Notwithstanding the foregoing, for purposes of computing the total ground level Floor Area of the Shopping Center or any premises (other than the Premises) in this Lease, the following shall be excluded therefrom : all space occupied temporarily, all space located on any level other than ground level, and all office space, storage space and maintenance rooms in the Shopping Center other than such space within a tenant's or occupant's premises . Landlord and Tenant each acknowledge that they have had an opportunity to measure the Floor Area of the Premises . Accordingly, Landlord and Tenant agree that the Floor Area set forth in Section 1 . 4 above (including the square footage used in calculating Minimum Rent, Common Area Expenses and Other Charges) is reasonable and any payments based on such square footage are not subject to revision, even if the actual Floor Area of the Premises is larger or smaller . 4.7 Control of Common Areas. Landlord expressly reserves the right and privilege in its sole discretion to (i) determine the nature, extent and use of the Common Areas, as the same may exist from time to time, and whether portions thereof shall be surface, underground or multiple - deck, (ii) change the sign criteria for the Shopping Center, and (iii) make such changes, additions and/or deletions to the Common Areas from time to time as provided elsewhere in this Lease or as in Landlord's opinion may otherwise be deemed desirable, including without limitation : (1) the addition, location, relocation and/or elimination of driveways, entrances, exits, parking spaces, patio areas, walkways and/or sidewalks ; (2) the placement of kiosks, carts, advertising, entertainment events, promotional events and/or any other displays and/or events ; (3) the direction and flow of traffic ; (4) the installation of prohibited areas, landscaped areas and/or any other areas, and any equipment and/or facilities relating thereto ; (5) additions to and/or deletions from the land from time to lime comprising the Common Areas ; and (6) the modification, renovation and/or demolition of existing and/or the construction of additional buildings, retail areas, pads, pad areas, mall areas, parking {whether surface, subsurface and/or decked) and/or other structures and/or improvements . Notwithstanding anything to the contrary contained in this Lease, Tenant shall have no right to seek damages or to cancel or terminate this Lease because of any changes made to the Shopping Center or Common Areas as permitted herein . Tenant shall not restrict, inhibit or prohibit any such changes nor shall Tenant preclude access to the Premises by Landlord or its employees or contractors in connection therewith . 4.8 Rules and Regulations. Landlord shall have the right to establish and, from time to time, to change, alter and amend, and to enforce, against Tenant and the other users of said Common Area!j,such reasonable rules and regulations as may be deemed Tenant: d {' - 1: Guarantor: ;/ /V - Guarantor: Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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necessary or advisable for the proper and efficient operation and maintenance of said Common Areas . The rules and regulations herein provided for may include, without limitation, the hours during which the Common Areas shall be open for use . Subject to the foregoing provision of this Section 4 . 8 , Landlord's rules and regulations for the Shopping Center in effect as of the date hereof are attached hereto and made a part hereof as Exhibit "D" . 4.9 Parking. Landlord may, if in its opinion the same be advisable, establish a system or systems of validation or similar operation, including a system of parking charges, and Tenant agrees to conform to and abide by all such rules and regulations in its use and the use of its customers and patrons with respect to said automobile parking areas . The employees of Tenant and the other tenants of Landlord shall not be permitted to park their automobiles in the automobile parking areas which may from time to time be designated for patrons of the Shopping Center . Landlord agrees to furnish and/or cause to be furnished either within the Shopping Center parking area, or reasonably close thereto, space for employee parking . Landlord at all times shall have the right to designate the particular parking area to be used by any or all of such employees and any such designation may be changed from time to time . Tenant and its employees shall park their cars only in those portions of the parking area, if any, designated for that purpose by Landlord . If Tenant or its employees park their cars in parking areas designated for patrons, then Landlord may charge Tenant Ten Dollars ($10 . 00) per day for each day or partial day per car parked in such areas . Within ten (10) days following request by Landlord, Tenant shall provide Landlord with a list of the make, model and license of its employees' vehicles . All amounts due under the provisions of this Section 4 . 9 shall be payable by Tenant within ten (10) days after demand therefor . Tenant hereby authorizes Landlord to tow away from the Shopping Center any car or cars belonging to Tenant or Tenant's employees, and/or to attach violation stickers or notices to such cars . Landlord shall not be liable for any damage to motor vehicles of customers or employees or for loss of property from within such motor vehicles, unless caused by the gross negligence of Landlord, its agents, servants, employees or contractors . SECTION 5 - USE AND OPERATION 5.1 Tenant's Use and Trade Name . Tenant shall use the Premises solely under the trade name specified in Section 1.2 and for the use specified in Section 11 ; provided, however, Tenant shall have the right to change its trade name specified in Section 1.2 by providing Landlord with not less than thirty (30) days prior written notice, and, in such event, Tenant, at Tenant's sole cost and expense, shall be responsible for any and all changes to Tenant's signage as a result thereof . Under no circumstances shall Tenant permit the Premises to be used for (i) any use (other than the Permitted Use under Section 1 . 11) that conflicts with a use now (or hereafter) permitted in leases for other tenants in in the Shopping Center, or (ii) any use prohibited by covenants recorded against title to the Shopping Center or that conflicts with restrictions or exclusive uses now (or hereafter) contained in leases for other tenants in the Shopping Center . Tenant, at its sole cost and expense, shall comply with all requirements and restrictions applicable to the use and occupancy of and improvements in the Premises as required under all applicable laws, statutes, zoning restrictions, ordinances, rules, regulations and requirements of any duly constituted public authority having jurisdiction over the Premises, the certificate of occupancy issued for the Premises, and covenants and restrictions and all matters of record, that are now or hereafter applicable to the construction or use of the Premises . 5.2 Deliveries. Tenant shall use its best efforts to complete or cause to be completed all deliveries, loading, unloading and services to the Premises prior to 10:00 A.M. of each day, and to prevent delivery trucks or other vehicles servicing the Premises from parking or standing in service areas for undue periods of time . If the Premises has a rear entrance, all deliveries shall be made through said rear entrance . In no event shall Tenant be permitted to erect, place, maintain or otherwise have, cause or permit to exist in any manner or form (whether on a temporary or permanent basis) any sheds, leantos, trailers or other structures or vehicles for storage or other purposes anywhere on, about or within the Shopping Center . Landlord reserves the right to further reasonably regulate the activities of Tenant in regard to deliveries and servicing of the Premises, and Tenant agrees to abide by such further reasonable regulations of Landlord . 5.3 Operating Covenant. Tenant agrees to be open for business and to operate all of the Premises continuously and uninterruptedly from and after the Rent Commencement Date throughout the remainder of the Term and any extension thereof during all hours on all days that Landlord in its sole discretion shall determine that the Shopping Center shall be open for business to the public . Tenant further agrees at all times during said hours and on said days to fully utilize the Premises for its business at this location and to keep and maintain upon the Premises competent personnel and an adequate stock of merchandise and trade fixtures to service and supply the usual and ordinary demands and requirements of its customers . In the event Tenant fails to open or remain open as herein required, in addition to all other rights and remedies available to Landlord, whether hereunder or at law or in equity, and notwithstanding anything in this Lease to the contrary, the Minimum Rent due hereunder shall be increased to an amount equal to 125 % of the then Minimum Rent on a per diem basis for each day the Premises are not so open or in which such hours are not maintained . Tenant shall keep its Premises in a neat, clean and orderly condition and its display windows well lighted from dusk until such reasonable time as may be fixed from time to time by Landlord for all of the tenants in the Shopping Center unless prevented by causes beyond Tenant's reasonable control . 5.4 New Locations. Except for existing stores, Tenant covenants that it will not, directly or indirectly operate or own any similar type of business within a radius of five (5) miles from the location of the Premises. In the event Tenant should violate this covenant, Landlord shall at its option, in addition to all other rights and remedies it may have whether hereunder or at law or in equity, be entitled to obtain injunctive relief prohibiting such conduct or it may elect to terminate this Lease . The restriction contained in this Section 5 . 4 shall also apply to Tenant's affiliates and subsidiaries and to any person, corporation or other entity controlling or controlled by Tenant including, without limitation, the principal shareholders of Tenant if Tenant is a corporation . 5.5 Use Restrictions. Tenant shall not permit the use of any part of the Premises for sleeping apartments or lodging. No auction, distress, going - out - of - business, fire or bankruptcy sales shall be conducted in the Premises without the advance written consent of Landlord, which may be granted or denied in its sole and absolute discretion. Tenant shall not, without prior written approval of Landlord, sell merchandise from vending machines or allow any coin - operated vending, gaming, arcade, or video game machines on the Premises . Tenant agrees not to conduct and operate its business (including noises, litter and odors) in a manner that shall constitute a nuisance to or interfere with the other property of Landlord or its business or the property or business of other tenants of the Shopping Center . Tenant shall not create or permit vibrations in the Premises that disturb or create a nuisance for other tenants in the Shopping Center and shall not play or amplify music or emit noise that is experienced outside of the Premises (by neighboring property owners, other tenants, or invitees) at a level above sixty (60) decibels (a normal conversation) . As necessary to comply with the covenant in the immediately preceding sentence, Tenant shall take actions and implement policies necessary to reduce the noise levels emitted from the Premises, including, but not limited to, lowering amplifications of music and installing sound proofing/dampening barriers and equipment . Promptly following Landlord's request, Tenant shall demonstrate the sound levels of its business to such potential tenants of adjacent premises . Tenant shall not offer within any part of the Premises any goods or services that Landlord determines, in its sole discretion, to be inconsistent with the image of a first - class, family - oriented retail development . Tenant shall not permit within any part of the Premises the display, sale or rental of any item or thing which, in Landlord's sole opinion, is pornographic, lewd, vulgar, obscene, graphically violent, gang - related or immoral (including without limitation any suggestive so - called "adult" newspaper, book, magazine, picture, representation or merchandise of any kind, nude photographs, sexual devices, objects depicting genitalia, and any similar items) . Except as expressly permitted by Section 1 . 11 , Tenant agrees that neither the Premises, the Building Tenant: - / ;J - Guarantor: / r - J Guarantor Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant) Landlor /'f. ...

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nor the Project shall be used by Tenant for the use, growing, producing, processing, storing (short or long term), distributing, transporting, or selling of cannabis, cannabis derivatives, or any cannabis containing substances ("Cannabis"), or any office uses related to the same, nor shall Tenant knowingly permit, allow or suffer, any of Tenant's officers, employees, agents, servants, licensees, subtenants, concessionaires, contractors and invitees to bring any Cannabis onto the Premises, the Building or the Shopping Center . Without limiting the foregoing, the prohibitions in this Section 5 . 5 shall apply to all Cannabis, whether such Cannabis is legal for any purpose whatsoever under state or federal law or both, except as expressly permitted by Section 1 . 11 . Notwithstanding anything to the contrary, any failure by Tenant to comply with each of the terms, covenants, conditions and provisions of this Section 5 . 5 shall automatically and without the requirement of any notice be a default that is not subject to cure, and Tenant agrees that upon the occurrence of any such default, Landlord may elect, in its sole discretion, to exercise all of its rights and remedies under this Lease, at law or in equity with respect to such default . 5.6 Hazardous Materials. Tenant covenants and agrees not to use, generate, release, manage, treat, manufacture, store, or dispose of, on, under or about, or transport to or from (any of the foregoing hereinafter a "Use") the Premises any Hazardous Materials (other than De Minimis Amounts, as "De Minimis Amounts" is hereafter defined in this Section 5.6) . In the event Tenant breaches the foregoing covenant, in addition to all other rights and remedies Landlord may have whether hereunder or at law or in equity, Landlord at its option may either (a) require Tenant to immediately upon demand therefor remove, abate and/or otherwise remedy all such Hazardous Materials using licensed contractors approved by Landlord, or (b) Landlord may without further notice to Tenant perform or cause to be performed such removal, abatement and/or remedial work for and on behalf of Tenant . Tenant further covenants and agrees to give Landlord immediate notice of any known Use or suspected Use of Hazardous Materials (other than De Minimis Amounts) on, under or about the Premises (and to immediately deliver to Landlord copies of any and all notices from anyone of violations or alleged violations of Hazardous Materials on, under or about the Premises) and to pay all costs and expenses associated with enforcement, abatement, removal, remedial or other governmental or regulatory actions, agreements or orders threatened, instituted or completed pursuant to any Hazardous Materials Laws, and all audits, tests, investigations, cleanup, reports, permits, licenses, approvals and other such items incurred in connection with any efforts to complete, satisfy or resolve any matters, issues or concerns, whether governmental or otherwise, arising out of or in any way related to the Use of Hazardous Materials in any amount by Tenant, its employees, agents, invitees, subtenants, licensees, assignees or contractors . In addition, Tenant further covenants and agrees to execute and deliver to Landlord, within ten (10) days following Landlord's request therefor, such certificates, affidavits, representations, and the like, as Landlord may request from time to time as to Tenant's best knowledge and belief concerning to the Use of Hazardous Materials on, under or about the Premises . For purposes of this Lease (1) the term "Hazardous Materials" shall include but not be limited to asbestos, urea formaldehyde, polychlorinated biphenyls, oil, petroleum products, pesticides, radioactive materials, hazardous wastes, toxic substances and any other related or dangerous, toxic or hazardous chemical, material or substance in any form or combination of forms (i . e . , solid, liquid, gaseous and/or otherwise) regulated or defined as hazardous or as a pollutant or contaminant in, or the Use of or exposure to which is prohibited, limited, governed or regulated by, any Hazardous Materials Laws ; (2) the term "De Minimis Amounts" shall mean, with respect to any given level of Hazardous Materials, that such level or quantity of Hazardous Materials in any form or combination of forms (i) does not constitute a violation of any Hazardous Materials Laws and (ii) is customarily employed in, or associated with, similar retail projects in the City in which the Shopping Center is located ; and (3) the term "Hazardous Materials Laws" shall mean any federal, state, county, municipal, local or other statute, law, ordinance or regulation now or hereafter enacted which may relate to or deal with the protection of human health or the environment, including but not limited to the Comprehensive Environmental Response, Compensation and Liability Act of 1980 , 42 U . S . C . Section 9601 , et seq : the Hazardous Materials Transportation Act, 49 U . S . C . Section 5101 , et seq ; the Resource Conservation and Recovery Act, 42 U . S . C . Section 6901 , et seq : the Federal Water Pollution Control Act, 33 U . S . C . Section 1251 , et seq : the Toxic Substances Control Act of 1976 , 15 U . S . C . Section 2601 , et seq : the laws of the State in which the Shopping Center is located ; and any rules, regulations or guidelines adopted or promulgated pursuant to any of the foregoing as they may be amended or replaced from time to time . Notwithstanding anything to the contrary contained in this Lease, in the event any of the equipment serving . the Premises such as, but not limited to, refrigerators, air conditioning systems, and supplemental healing, ventilating and air conditioning systems utilize refrigerants containing chlorofluorocarbons (sometimes commonly referred to as "CFC's"), Landlord, in its sole discretion, shall have the option to require Tenant, at its sole cost and expense, to remove such equipment at the expiration or earlier termination of the Term . The foregoing provisions of this Section 5 . 6 to the contrary notwithstanding, in no event shall Tenant or anyone for or on behalf of Tenant (x) Use any asbestos or asbestos containing material whatsoever in the performance of any Tenant's Work or any alterations or changes thereto or lo any other leasehold improvements by or for Tenant located in, on or about the Premises or (y) place or dispose of any Hazardous Materials (including, but not limited to, fluorescent light tubes) in any trash receptacles within the Shopping Center . SECTION 6 - UTILITIES SERVICES 6.1 Utilities. Landlord shall initially make water, electricity, and sewage removal available to the Premises or, at Landlord's sole and absolute discretion, to a central distribution point outside the Premises but in reasonable proximity thereto. 6.2 Payment of Utility Cost. Tenant agrees, at its own expense, to pay for all water, gas and electricity and all other similar utilities used by Tenant on the Premises from and after the commencement of the Term, and Tenant agrees to provide, at Tenant's sole cost and expense, any check meters of the type required by Landlord . In the event that any utilities are furnished by Landlord, whether sub - metered or otherwise, then and in that event Tenant shall pay Landlord for such utilities, but the charges therefor to Tenant by Landlord shall not exceed those of the local public utility had such companies furnished said services and facilities directly to Tenant, plus all surcharges, taxes and assessments, whether ordinary or extraordinary, foreseen or unforeseen which Landlord may be required from time to time to pay in connection with obtaining such services for the Shopping Center including, without limitation, fuel adjustment increases and any other additional charges now or hereafter in effect . Said utility charges, if payable to Landlord as hereinabove provided, shall be due and payable on a monthly basis as additional rent hereunder on the first day of each calendar month . Any utilities which Landlord is required or elects to provide or cause to be provided to the Premises may be furnished by an agent or an independent contractor engaged by Landlord, and Tenant shall accept the same therefrom to the exclusion of all other suppliers and, at Landlord's sole election, shall pay directly such agent or independent contractor on a monthly basis for such utilities . Failure of Tenant to pay any utility charges as and when required under this Section 6 . 2 shall constitute a default under the terms hereof in like manner as failure to pay rent when due . 6.3 No Liability. Landlord shall not be liable in damages or otherwise for any failure or interruption of any utility service being furnished to the Premises, unless the same shall have been caused by Landlord's gross negligence and Landlord shall have been unable to cure such failure or interruption within 72 hours following written notice from Tenant, in which event Tenant as its exclusive remedy for such failure or interruption caused by Landlord's gross negligence shall be an abatement of Minimum Rent for the number of days Tenant is prohibited from operating or conducting its business and is closed to the public . In no event shall any such failure or interruption entitle Tenant lo terminate this Lease or, except to the extent of any abatement permitted pursuant to this Section 6 . 3 , withhold any rent or any other sums due pursuant to the terms of this Lease . SECTION 7 - INDEMNITY AND INSURANCE 7.1 Indemnification, Release and Waiver. Tenant: - - / N • Guarantor: Guarantor Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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(a) Indemnity by Tenant. Tenant covenants and agrees with Landlord that Landlord shall not be liable for any damage or liability arising from a breach of any duty of any kind or for any injury to or death of persons or loss or damage to Tenant's business or damage to any property of Tenant or any other person arising out of or in any way related to the use, occupancy and enjoyment of the Premises or the Common Areas by Tenant or any person thereon or holding under said Tenant unless the same shall (i) be caused solely by the gross negligence of Landlord, and (ii) not be covered by insurance maintained or required to be maintained by Tenant under this Lease . In addition, Landlord shall not be liable to Tenant for any injury, damage, or loss arising out of or in any way related to any act, omission, or negligence of lessees or occupants of the Shopping Center or of other owners of adjacent or contiguous property, all claims against Landlord for any such injury, damage, or loss being hereby expressly waived by Tenant . Tenant further covenants and agrees to protect, indemnify, save and keep hanmless Landlord and other tenants and occupants of the Shopping Center against and from all liability, claims, loss, injury, liens, cost, damage or expense arising out of or in any way related to : (1) any accident or other occurrence in, on or at the Premises ; (2) the utilities located in, under or above the Premises causing injury to any person or property whomsoever or whatsoever ; (3) the occupancy or use of the Premises or any act or omission of Tenant, its employees, agents, invitees, subtenants, licensees, assignees or contractors ; (4) any penalty or damage or charges imposed for any violations of any law or ordinance whether occasioned by the negligence of Tenant or those holding under Tenant ; and (5) any failure of Tenant in any respect to comply with and perfonm all the requirements and provisions of this Lease . Notwithstanding anything to the contrary contained in this Lease, under no circumstances (even if the loss or damage is caused by Landlord's gross negligence) shall Landlord be liable to tenant for damage to its trade fixtures, equipment or personal property, or for loss of income, increased expenses, or damage to its business or its good will, all of which the parties agree shall be covered by insurance Tenant detenmines is adequate and elects to maintain to adequately protect it from such losses . Tenant's obligation to indemnify Landlord, as herein provided, shall apply notwithstanding a breach of any duty of any kind by Landlord and shall survive the expiration or earlier tenmination of this Lease for acts or omissions occurring prior to such expiration or earlier termination, and shall additionally include the retention of legal counsel and related attorneys' fees and investigation costs (as well as all other reasonable and related costs, expenses and liabilities) from the first notice that any claim or demand is to be made or may be made . For purposes of this Section 7 . Hal only, the tenm "Landlord" shall be deemed to include Landlord, the partners of Landlord, the fee owner of the Shopping Center if other than Landlord, Landlord's managing agent for the Shopping Center, their respective parents, subsidiaries and affiliates, and the respective members, partners, directors, officers, agents, servants, employees and contractors of each of the foregoing . Tenant agrees that it shall provide insurance in compliance with the provisions of Section 7 . 2 , at all times . Tenant, however, acknowledges that its liability pursuant to this Section 7 . Hal is not limited to the amount of any insurance set forth and provided for in Section 7 . 2 . (b) Waiver of Subrogation. Landlord and Tenant each hereby waives any and all rights of recovery against the other, and against any other tenant or occupant of the Shopping Center and against the investment managers, trustees, directors, partners, members, managers, beneficiaries, officers, employees, agents, management agents, representatives, customers and business visitors of such other party and of such other tenant or occupant of the Shopping Center, for any loss insured by All Risks or Special Fonm coverage or other property insurance now or hereafter existing for the benefit of the respective party, but only to the extent of the net insurance proceeds payable under such policies (or which would have been payable if such insurance were maintained as required by this Lease) . Each party shall obtain any special endorsements required by its insurer to evidence compliance with the foregoing waiver . The foregoing waiver shall be effective whether or not a waiving party actually obtains and maintains the insurance required pursuant to this Lease . Landlord and Tenant shall, upon obtaining the policies of insurance required hereunder, give notice to their respective insurance carriers of the foregoing mutual waiver of subrogation . Landlord's notice hereunder may be a general notice with respect to all leases, including this Lease, then or thereafter in effect at the Shopping Center . Notwithstanding the foregoing provision, if a loss or damage is caused by the act or omission of Tenant, or its agents, contractors, or employees, Tenant shall be responsible for any deductible incurred by Landlord in connection with the loss or damage . 7.2 Tenant's Insurance Obligation. Tenant further covenants and agrees that it will carry and maintain during the Term, at Tenant's sole cost and expense, the following types of insurance, in the amounts specified and in the fonm hereinafter provided: (a) Commercial General Liability Insurance. Tenant shall at all times during the Tenm maintain in effect a policy or policies of commercial general liability insurance with a per occurrence limit of not less than Three Million Dollars ($3 , 000 , 000 . 00) combined single limit per occurrence and not less than Three Million Dollars ($3 , 000 , 000 . 00) general aggregate, insuring against any and all liability of the insured with respect to the Premises or arising out of the maintenance, use or occupancy thereof . If the penmitted uses permit the sale or service of alcoholic beverages on the Premises, then during any period that Tenant is actually serving or offering the same for sale Tenant shall either obtain a liquor liability policy or liquor liability endorsement to said commercial general liability policy insuring such liability in an amount not less than Three Million Dollars ($3 , 000 , 000 . 00) combined single limit per occurrence . All insurance shall specifically insure the perfonmance by Tenant of the indemnity agreement contained in Section 7 . 1 . Tenant shall increase said liability insurance to such additional amounts as Landlord from lime to time may reasonably require . (b) Plate Glass. Tenant shall be responsible for the maintenance of the plate glass on the Premises, but shall have the option either to insure the risk or to self - insure the same. (c) Tenant Improvements. Tenant shall procure and maintain in full force and effect during the Term property insurance (including also boiler and machinery insurance, as applicable) covering all of Tenant's Work as referenced in Exhibit "C" , Tenant's leasehold improvements, alterations or additions penmitied under Section 10 hereof, Tenant's trade fixtures, merchandise and personal property from time to lime in, on or upon the Premises, on a replacement cost basis (with an agreed value endorsement) from time to time during the Term, providing protection against any peril included within the most current version of the Insurance Service Office's classification "Causes of Loss C Special Fonm" all risk coverage (or its equivalent), hereinafter in this Lease and any and all Exhibits hereto such version (or its equivalent) referred to as "Special Fonm (All Risk) Coverage" . All policy proceeds shall be used for the repair or replacement of the property damaged or destroyed unless this Lease shall cease and tenminate under the provisions of Section 13 hereof, in which event of tenmination such proceeds attributable to said "Tenant's Work" and leasehold improvements (and to all other items of property becoming or to become the property of Landlord upon such termination) shall be paid and disbursed directly to Landlord . (d} Workers' Compensation. Statutory workers' compensation insurance, as well as employer's liability insurance with limits of not less than $500,000.00/$500,000.001$500,000.00, and any and all other insurance required by any employee benefit acts or other statutes applicable where the work is to be perfonmed as will protect Tenant from any and all liability under the aforementioned acts and statutes. 7.3 Policy Requirements. All policies of insurance provided for herein shall be issued by insurance companies with a rating of not less than A - and a financial size category of not less than IX as rated in the most current available Best's Key Rating Guide (or the then most nearly equivalent thereof if the same hereafter ceases to be published) or by such insurer as shall otherwise be satisfactory to Landlord and qualified to do business in the State in which the Shopping Center is located . All such policies of Tenant shall be issued in the name of Tenant, with Landlord, the fee owner of the pping Center if other than Landlord, Landlord's managing Tenant: ! rf Guarantor: - t - , Guarantori Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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agent and mortgagees or beneficiaries named as additional insureds, which policies shall be for the mutual and joint benefit and protection of Landlord, the fee owner of the Shopping Center if other than Landlord, Tenant and Landlord's managing agent and mortgagees or beneficiaries . Executed copies of such policies of insurance or certificates thereof and copies of all required policy endorsements shall be delivered to Landlord within ten (10) days prior to delivery of possession of the Premises to Tenant and thereafter at least thirty (30) days prior to the expiration of the term of each such policy . The above commercial general liability insurance policy shall contain a standard Insurance Services Office "Severability of Interests" clause allowing Landlord as an additional insured to recover under said policy for any loss occasioned to it, its servants, agents, employees or contractors, by reason of any negligence of Tenant . As often as any such policy shall expire or terminate, renewal or additional policies shall be procured and maintained by Tenant in like manner and to like extent . All policies of insurance required hereunder of Tenant must contain a provision that the company writing said policy will give to Landlord at least thirty (30) days' notice in writing in advance of any cancellation or lapse or any reduction in the types or limits of insurance . All liability, property and other policies of Tenant required hereunder shall be written as primary policies, with no right to any contribution from, and not in excess of, any insurance coverage which Landlord may carry to protect its interests and no such policy shall be subject to any deductible (except a deductible not to exceed $2 , 500 . 00) or to any self - insured retention . 7.4 Blanket Coverage. Notwithstanding anything to the contrary contained in this Section 7 , Tenant's obligations to carry the insurance provided for herein may be brought within the coverage of a so - called blanket policy or policies of insurance carried and maintained by Tenant ; provided, however, that Landlord and Landlord's managing agent and mortgagees or beneficiaries shall be named as an additional insured thereunder as their interest may appear, and that the coverage afforded Landlord will not be reduced or diminished by reason of the use of such blanket policy of insurance, and provided further that the requirements set forth herein are otherwise satisfied . Tenant agrees to permit Landlord at all reasonable times to inspect the policies of insurance of Tenant covering risks upon the Premises for which policies or copies thereof are not delivered to Landlord . 7.5 Landlord's Insurance Obligations. Landlord shall maintain in effect a program of insurance (together with any and all deductibles and self - insured retentions and expenses as Landlord may from time to time deem appropriate in connection therewith) covering the insurable portions of the Shopping Center, including the Premises and the leasehold improvements included within "Landlord's Work" as referenced in Exhibit "C" , (but not Tenant's Work as referenced in said Exhibit "C" , Tenant's leasehold improvements, alterations or additions permitted under Section 10 hereof, Tenant's trade fixtures, merchandise or other personal property), in an amount of not less than the fair replacement value thereof (exclusive of excavations, foundations and footings) during the Term, providing protection against any peril generally included within the classification "Special Form (All Risk) Coverage" and such further insurance as Landlord deems necessary or desirable . Landlord at iis option may also carry such further insurance as Landlord deems necessary or desirable, together with any and all deductibles and self - insured retentions and expenses as Landlord may from time to lime deem appropriate in connection therewith . Landlord's obligation to carry the insurance provided for herein may be brought within the coverage of a so - called blanket policy or policies of insurance carried and maintained by Landlord, provided that the coverage afforded will not be reduced or diminished by reason of the use of such insurance . 7.6 Insurance Use Restrictions. Tenant agrees that ii will not at any time during the Term carry any stock of goods or do anything in or about the Premises which could jeopardize or increase rates of any liability or property insurance. Tenant agrees to pay to Landlord forthwith upon demand the amount of any increase in premium for property and liability insurance that may be charged during the Term on the amount of insurance to be carried by Landlord resulting from the foregoing or from Tenant doing any act in or about the Premises which does so increase the insurance rates, whether or not Landlord shall have consented to such act on the part of Tenant, and in the event of any such act on the part of Tenant, Landlord, in addition to any and all other rights and remedies it may have whether hereunder or at law or in equity, shall have the right to cancel and terminate this Lease at any time thereafter upon notice thereof to Tenant . If Tenant installs upon the Premises any electrical equipment which constitutes an overload on the electrical lines of the Premises, Tenant shall at its own expense make whatever changes or provide whatever equipment safeguards are necessary to comply with the requirement of the insurance underwriters and any governmental authority having jurisdiction thereover, but nothing herein contained shall be deemed to constitute Landlord's consent to such overloading . SECTION 8 - SIGNS 8.1 Sign Criteria. Tenant acknowledges that the Premises are a part of an integrated Shopping Center and that control of all signs by Landlord is essential to the maintenance of uniformity, propriety and aesthetic values in the Shopping Center. Landlord has attached hereto as Exhibit "B" the Shopping Center sign criteria which shall be adhered to by Tenant . Nonetheless, Tenant shall not place on or about the exterior of the Premises or on the windows or doors thereof (and within 24 inches of any such window or door) any sign or other material without Landlord's prior written approval, not to be unreasonably withheld, conditioned or delayed . Anything to the contrary in this Lease notwithstanding, Tenant shall not affix any sign to the roof of the Premises and no advertising medium shall be utilized by Tenant in the Shopping Center which can be heard or experienced outside the Premises, including without limiting the generality of the foregoing, flashing lights, searchlights, musical instruments, loudspeakers, phonographs, radios, televisions, scents or odors . In addition, Tenant shall not display, paint or place or cause to be displayed, painted or placed, any handbills, bumper stickers or other advertising devices or signs on any vehicle parked in the parking area of the Shopping Center, whether belonging to Tenant, or to Tenant's agent, or to any other person ; nor shall Tenant distribute, or cause to be distributed, in the Shopping Center any handbills or other advertising devices . Tenant shall obtain all required governmental approvals and permits required for its signage, and its signage shall comply with any applicable laws, ordinances, rules, directions, regulations, guidelines and orders of governmental and public bodies and agencies now or hereafter in effect from time to time that may govern or apply to Tenant's signage, and with the requirements, if any, contained in documents recorded against title to the Shopping Center . Consent to or approval by Landlord of Tenant's signage shall not create any responsibility or liability on the part of Landlord for the failure of Tenant's signage to comply with the sign criteria set forth in Exhibit "B" with any applicable laws, ordinances, rules, directions, regulations, guidelines and orders of governmental and public bodies and agencies now or hereafter in effect from time to time that may govern or apply to Tenant's signage, or with restrictions, if any, contained in documents recorded against title to the Shopping Center . Tenant shall complete the installation of its exterior building signs within thirty (30) days following the date on which Tenant opens its business at the Premises to the public . 8.2 Sign Removal. Notwithstanding the above, Tenant shall upon request of Landlord immediately remove any exterior or interior sign, advertisement, decoration, lettering or notice which Tenant has placed or permitted to be placed in, upon, above or about the Premises and which Landlord reasonably deems objectionable or offensive, and if Tenant fails or refuses to do so Landlord may enter upon the Premises and remove the same . Upon the expiration or earlier termination of this Lease, Tenant shall remove any exterior or interior sign, advertisement, decoration, lettering or notice which Tenant has placed or permitted to be placed in, upon, above or about the Premises . Tenant shall be solely responsible for any and all fines, duties and liens whatsoever imposed upon Landlord or the Shopping Center by any governmental body or agency having jurisdiction thereover pertaining to any sign which Tenant has placed or permitted to be placed in, upon, above or about the Premises which is in violation of any ordinance, rule, law, directive, regulation, requirement, guideline or order of such body or agency . SECTION 9 - MAINTENANCE AND SANITATION Tenant: -- ? - -- Guarantor: Y GuarantqL Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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9.1 Tenant's Obligations. Tenant agrees at all times during the Tenm, at Tenant's own cost and expense, to repair, maintain in good and tenantable condition and replace, as necessary with ordinary wear and tear excepted, the Premises and every part thereof whether installed by Landlord or Tenant (except portions of the Premises expressly required to be maintained by Landlord pursuant to Section 9 . 2 of this Lease), including, without limitation, exterior and interior glass ; Tenant's interior demising partitions ; mechanical, plumbing, communications, heating, air ventilation and conditioning and other utility systems exclusively serving the Premises up to the point of entry to the Premises and free flow up to the point at which other tenant sewage connections join with the main sewer line (all whether or not such systems are located in the Premises) ; fixtures ; sprinkler systems ; signs ; locks and closing devices ; windows ; window frames and window sashes ; casements and frames ; the exterior and interior portion of all doors, door frames and door checks, other entrances ; floor coverings ; drop ceilings ; any grease traps and piping ; the storefront ; and all items of repair, replacement, renewals, restorations, maintenance, alteration, improvement or reconstruction (including capital improvements, alterations and repairs) as may be required by any by federal, state or local laws, rules, regulations and requirements, or the insurance underwriter(s) for the Shopping Center . Tenant shall at all times during the tenm of this Lease maintain a full - service maintenance contract, as reasonably approved by Landlord, to service all HVAC units including all swap coolers servicing the Premises . Tenant shall deliver to Landlord a copy of the full - service maintenance contract once in effect . All replacements made by Tenant shall be of like size, kind and quality to the items replaced as such item or items existed when originally installed and shall be subject to Landlord's prior approval . Tenant shall be solely responsible for the regular monitoring for and remediation of mold and mold causing - conditions within the Premises in accordance with applicable federal, state or local laws, rules, regulations and requirements and otherwise in a manner reasonably satisfactory to Landlord, and hereby waives and releases Landlord, its successors and assigns, from all claims and demands of every kind in any way relating to the presence of mold within the Premises or Shopping Center . Tenant, at its expense, shall install and maintain fire extinguishers and other fire protection devices as may be required from time to time by any agency having jurisdiction thereof or by Landlord's insurance carrier . If Tenant refuses or neglects to make repairs and/or maintain the Premises, or any part thereof, in a manner reasonably satisfactory to Landlord, then, in addition to any and all other rights and remedies Landlord may have whether hereunder or at law or in equity, Landlord reserves the right, upon giving Tenant reasonable written notice of its election to do so, to make such repairs or perfonm such maintenance on behalf of and for the account of Tenant ; provided, however, no reservation of such right by Landlord shall be deemed to (a) impose any obligation on Landlord to make such repairs or perfonm such maintenance, or (b) render Landlord liable to Tenant or any third (3 rd) party for the failure to do so, or (c) relieve Tenant from any obligation to indemnify Landlord as otherwise provided elsewhere in this Lease . In such event such work shall be paid for by Tenant promptly upon receipt of a bill therefor . Tenant shall not decorate or paint the exterior of the Premises, or any part thereof, except in the manner and color first approved in writing by Landlord in its sole and absolute discretion, nor shall Tenant install any equipment on the roof or make any repairs affecting the roof, or any portion thereof, without first obtaining Landlord's prior written approval therefor, which may be granted or denied in Landlord's sole and absolute discretion . 9.2 Landlord's Obligation. Landlord shall repair, maintain in good and tenantable condition and replace, as necessary, the roof, exterior walls and structural parts of the Premises (including the structural floor), and all utility installations serving the Premises on a nonexclusive basis (except where the appropriate utility company performs such duties) or that fonm a centralized air conditioning system serving the Premises on a nonexclusive basis . In no event shall Landlord be required to make repairs or replacements necessitated by the negligence or willful acts of Tenant or anyone claiming under Tenant, because of the failure of Tenant to perfonm or observe any term or condition of this Lease, or because of improvements or alterations made by Tenant, all of which shall be Tenant's obligation to repair or replace at its sole cost and expense . Landlord shall be under no obligation to repair, replace or maintain the Premises or the mechanical equipment exclusively serving the Premises at any times, all of which repairs, replacements, or maintenance shall be Tenant's obligation to repair at its sole cost and expense . Notwithstanding anything to the contrary contained in this Lease, Landlord shall not in any way be liable to Tenant for failure to make repairs as herein specifically required of Landlord unless Tenant has previously notified Landlord in writing of the need for such repairs and Landlord has failed to commence and complete said repairs within a reasonable period following receipt of Tenant's notification . As used in this Section 9 , "exterior walls" shall exclude storefronts, plate glass, window cases or window frames, doors or doorframes, security grilles or similar enclosures . The definition of Common Area Expenses includes all work performed by Landlord in accordance with this Section 9 . 2 . 9.3 Performance of Work by Landlord. If Tenant refuses or neglects to repair, replace, or maintain the Premises, or any part thereof, as required under this Lease, Landlord shall have the right but not the obligation, upon giving Tenant at least ten (10) days' prior notice of Landlord's election to do so (except for an emergency in which event no such notice shall be required), to enter the Premises and make such repairs or perform such maintenance or replacements on behalf of and for the account of Tenant . Nothing herein contained shall imply any duty of Landlord to do any work that, under any provision of this Lease, Tenant is required to do, nor shall Landlord's perfonmance of any repairs on behalf of Tenant constitute a waiver of Tenant's default in failing to do the same . No exercise by Landlord of any rights herein reserved shall entitle Tenant to any compensation, damages or abatement of rent from Landlord for any injury or inconvenience occasioned thereby . If Landlord perfonms any maintenance or other obligations that Tenant is required to perfonm under the tenms of this Lease, Tenant shall upon demand pay to Landlord the costs and expenses incurred by Landlord's perfonmance on behalf of Tenant (or shall deposit with Landlord the anticipated amounts thereof), plus Landlord's administrative fee equal to fifteen percent (15 %) of the costs and expenses incurred by Landlord . 9.4 Right to Enter . Tenant agrees to penmit Landlord and its agents, employees, servants and contractors to enter the Premises at all times during usual business hours for the purpose of inspecting same and upon reasonable notice to Tenant for the purpose of perfonming any of Landlord's maintenance or repair obligations . In addition, Tenant agrees to penmit Landlord and the tenants (and their agents and contractors) of other stores in the Shopping Center to enter the Premises in order to install, replace maintain and/or repair electrical, telephone, plumbing, mechanical and fire protection systems and other utility lines, equipment and plumbing or other utility systems above the ceiling, below the floor or within the walls of the Premises, provided that the entry of Landlord and such tenants and their work in or upon the Premises shall not unreasonably interfere with the business of Tenant and that Landlord and such tenants shall promptly repair and restore any damage to the Premises or to Tenant's property occasioned by such entry or work . 9.5 Pest Control. Tenant shall, at its cost, retain a licensed, bonded professional pest and sanitation control service to perfonn inspections of the Premises at such inteivals as shall be required by Landlord to keep the Premises free of infestation by insects, rodents and vermin, and shall promptly cause any corrective or extermination work recommended by such service to be perfonmed . At Landlord's option, Landlord may retain a contractor to perfonm such service for all tenants at the Shopping Center (but not for the Premises, which shall be serviced by Tenant), and the commercially reasonable costs thereof shall be included in Common Area costs . 9.6 Trash. Landlord and Tenant hereby acknowledge and agree that at Landlord's sole election, and pursuant to Section 1 hereof, Landlord or Landlord's agent or contractor, as the case may be, may provide and maintain trash receptacles about the Shopping Center in which to place trash and shall cause such trash to be removed from the area as often as is reasonably necessary ; provided, however, tenants and other occupants with special trash requirements or who generate large amounts of trash as determined by Landlord shall, at Landlord's sole election, be responsible for all such special requirements and for the collection, storage and/or removal of all such trash at their own cost and expense . If Landlord does not elect to provide trash receptacles for Tenant's use, Tenant Tenant: Guarantor: - f.. N puaranto({.!i_ Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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shall be responsible for the odor - free storage and removal of trash from the Premises at Tenant's sole cost and expense . In no event, however, shall Tenant place or dispose of any Hazardous Materials (including, but not limited to, fluorescent light tubes) in any trash receptacles within the Shopping Center . SECTION 10 - ALTERATION, REPAIR AND LIENS 10.1 Consent Required. Tenant shall not make any alterations or additions upon the Premises without the prior written consent of Landlord. The plans and specifications for any and all such work shall first receive the prior written approval of Landlord in accordance with the procedures for obtaining such approval set forth in Exhibit "C" . Landlord's approval of the plans, specifications or working drawings shall create no responsibility or liability on the part of Landlord for their completeness, design sufficiency, or compliance with all laws, rules and regulations of governmental agencies or authorities . Following approval of the plans and specifications by Landlord, Tenant shall give Landlord at least fifteen (15) days' prior written notice of commencement of work in the Premises so that Landlord may post notices of non - responsibility in or upon the Premises as provided by law . Tenant agrees that, within seven (7) days of entering any contract relating to Tenant Improvements at the Premises, Tenant shall provide Landlord with a copy of the contract . In the event that Tenant shall make any permitted alterations or changes to the Premises under the terms and provisions of this Section 10 , Tenant agrees upon its part to carry such additional property insurance as may be necessary to fully insure on a primary, non - contributory basis all such alterations and changes, it being expressly understood and agreed that none of such alterations or changes shall be insured by Landlord under such insurance as Landlord may carry upon the building of which Premises are a part, nor shall Landlord be required under any provisions for reconstruction of the Premises to reinstall or reconstruct any such alterations or changes ; provided, however, the foregoing provisions of this Section 10 . 1 notwithstanding, Tenant and its contractors shall, at a minimum, carry such insurance in connection with the construction of such alterations and changes as is required of Tenant and its contractors pursuant to Exhibit "C" for the construction of Tenant's Work hereunder . Landlord may, at its option and for its sole benefit, carry its own and/or additional insurance covering such alterations and/or changes . To the extent Tenant retains a general contractor such general contractor shall be approved by Landlord ; Landlord's approval shall not be unreasonably withheld . The general contractor shall be licensed by the state in which the Shopping Center is located and maintain at all times during the construction of the tenant improvements commercial general liability insurance in the amount set forth in Exhibit "C" , and such other insurance as Landlord reasonably requires . Landlord and Landlord's manager, Ethan Christopher Arizona, LLC shall be named as an additional insured on the applicable insurance . lt shall be Tenants sole cost and expense, at Tenant's sole risk, to obtain any and all permits, certifications, and other approvals necessary for the tenant improvements and the operation of its business, if applicable . 10.2 Liens . Tenant shall pay or cause to be paid all costs for work done by it or caused to be done by it on, and for materials furnished to, the Premises, and Tenant shall keep the Premises free and clear of all mechanics' liens and other liens on account of work done by Tenant or persons claiming under it. Tenant agrees to and shall indemnify and save Landlord and any fee owner (if any) free and harmless against liability, loss, damage, costs, attorneys' fees, and all other expenses on account of claims of lien of laborers or materialmen or others for work performed or materials or supplies furnished for Tenant or persons claiming under it . If any claim of lien should be filed against the Premises or the Shopping Center or any interest in either, Tenant shall, within fifteen (15) days thereafter, cause the property which is subject to the lien to be discharged therefrom either by paying the same or by filing or recording a surety bond in accordance with the provisions of the laws of the State in which the Shopping Center is located . If Tenant shall be in default in paying any charge for which a mechanics' or materialmen's lien claim and suit to foreclose the lien have been filed and shall not have filed or recorded the surety bond referred to above, Landlord may (but shall not be required to) pay the said claim and any costs, and the amount so paid, together with reasonable attorneys' fees incurred in connection therewith, shall be immediately due and owing from Tenant to Landlord, and Tenant shall pay the same to Landlord with interest at one and one - half percent (1 - 1 / 2 %) per month from the dates of Landlord's payments . Should any claims of lien be filed against the Premises or any action affecting the title to such property be commenced, the party receiving notice of such lien or action, whether Landlord or Tenant, shall forthwith give the other notice thereof . SECTION 11 - FIXTURES AND PERSONAL PROPERTY 11.1 Ownership. Any trade fixtures, signs and other personal property of Tenant not permanently affixed to the Premises shall remain the property of Tenant, and Landlord agrees that Tenant shall have the right, provided Tenant is not in default under the terms of this Lease, at any time, and from time to time, to remove any and all of its trade fixtures, signs and other personal property which it may have stored or installed in the Premises, including, without limitation, counters, shelving, showcases, mirrors and other movable personal property not permanently affixed to the realty . Nothing contained in this Section 1 1 shall be deemed or construed to permit or allow Tenant to remove such personal property during the Term, without the immediate replacement thereof with similar personal property of comparable or better quality . All trade fixtures, signs, and other personal property installed in or attached to the Premises by Tenant must be new or in like - new condition when so installed or attached . Tenant, at its expense, shall immediately repair any damage occasioned to the Premises by reason of the removal of any such trade fixtures, signs, and other personal property, and upon expiration or earlier termination of this Lease, Tenant shall leave the Premises in a neat and clean condition and free of debris . All trade fixtures, signs, and other personal property installed in or attached to the Premises by Tenant must be new or in like - new condition when so installed or attached . All improvements to the Premises by Tenant, including but not limited to recessed light fixtures, floor coverings, carpeting, draperies, and partitions, but excluding movable trade fixtures, decorative lighting fixtures and signs, shall become the property of Landlord upon expiration or earlier termination of this Lease, unless Landlord requests their removal in which event Tenant shall remove the same and restore the Premises to its original condition at Tenant's expense . 11.2 Removal. If Tenant fails to remove any of its trade fixtures, signs and other personal property upon expiration or the sooner termination of this Lease, Landlord may at Landlord's option retain all or any of such property, and title thereto shall thereupon vest in Landlord, or Landlord may remove from the Premises and dispose of, in any manner, all or any portion of such property, in which latter event Tenant shall, upon demand, pay to Landlord the actual expense of such removal and disposition and the repair of any and all damage to the Premises resulting from or caused by such removal . 11.3 Personal Property Taxes. Tenant shall pay before delinquency all taxes, assessments, license fees and public charges levied, assessed or imposed upon its business operation, as well as upon its trade fixtures, merchandise and other personal property in or upon the Premises . In the event any such items of property are assessed with property of Landlord, such assessment shall be divided between Landlord and Tenant to the end that Tenant shall pay only its equitable portion of such assessment as determined by Landlord . No taxes, assessments, fees or charges referred to in this Section 11 . 3 shall be considered as real property taxes under the provisions of Section 3 . 5 hereof . SECTION 12 - OCCUPANCY TRANSACTIONS 12.1 Definitions. As used in this Section 12 , the following definitions shall apply: Tenand VV - Guarantor: Guarantor Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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(a) "Transfer" (sometimes also in this Lease "transfer") means, collectively or separately, as the case may be, any voluntary, unconditional (i) assignment of some or all of Tenant's interest, rights and duties in the Lease and the Premises, including Tenant's right to use, occupy and possess the Premises, or (ii) sublease of Tenant's right to use, occupy and possess, in whole or in part; (b) "Encumbrance" means any conditional, contingent or deferred assignment, sublease or conveyance voluntarily made by Tenant of some or all of Tenant's interest, rights or duties in the Lease or the Premises, including Tenant's right to use, occupy or possess the Premises, in whole or in part, including, without limitation, any mortgage, deed of trust, pledge, hypothecation, lien, franchise, license, concession or other security arrangement; (c) "Change of Control" means the transfer by sale, assignment, death, incompetency, mortgage, deed of trust, trust, operation of law, or otherwise of any shares, voling rights or ownership interests which will result in a change in the identity of the person or persons exercising, or who may exercise, effective control of Tenant, unless such change results from the trading of shares listed on a recognized public stock exchange and such trading is not for the purpose of acquiring effective control of Tenant . If Tenant is a private corporation whose stock becomes publicly held, the transfers of such stock from private to public ownership shall not be deemed a Change of Control ; (d) "Occupancy Transaction" means any Transfer, Encumbrance, Change of Control, or other arrangement whereby the identity of the person or persons using, occupying or possessing the Premises changes or may change (including without limitation the merger or consolidation of Tenant with any other corporation or business entity as well as the change or conversion of Tenant to any company, partnership or other entity which possesses the characteristics of limited liability}, whether such change be of an immediate, deferred, conditional, exclusive, nonexclusive, permanent or temporary nature ; and (e) "Transferee" means the proposed assignee, sublessee, mortgagee, beneficiary, pledges or other recipient of Tenant's interest, rights or duties in this Lease or the Premises in an Occupancy Transaction. 12.2 Restrictions. (a) Tenant shall not make or consent to any Encumbrance without the prior written consent of Landlord, which Landlord may grant or withhold in its sole and absolute discretion. (b} Tenant shall not enter into, or consent to, an Occupancy Transaction, other than an Encumbrance which shall be subject to the provisions in Section 12.2(a) . without first procuring Landlord's written consent, which Landlord shall not withhold unreasonably ; provided, however, that by way of example and without limitation, the parties agree it shall be reasonable for Landlord to withhold its consent if any of the following situations exist or may exist : (i)The Transferee's contemplated use of the Premises following the proposed Occupancy Transaction conflicts with the Permitted Use set forth in Section 1 . 11 ; (ii) In Landlord's reasonable business judgment, the Transferee lacks sufficient business reputation or experience to operate a successful business of the type and quality permitted under the Lease ; (iii) In Landlord's reasonable business judgment, the present net worth of the Transferee is less than the greater of (i) the collective net worth of Tenant and any and all guarantors as of the dale hereof or (ii) the collective net worth of Tenant and any and all guarantors as of the dale of Tenant's request for consent ; (iv) In Landlord's reasonable business judgment, the percentage rent (if applicable) that Landlord reasonably anticipates receiving from the Transferee would be less than that which Landlord has heretofore received from Tenant ; (v) The proposed Occupancy Transaction would breach any covenant of Landlord respecting radius, location, use or exclusivity in any other lease, financing, financing agreement, or other agreement relating to the Shopping Center ; or (vi) Any guarantor of this Lease fails for any reason to confirm in writing, prior to the effective date of such Occupancy Transaction, its continuing liability under said Guaranty following the effective date of such Occupancy Transaction . 12.3 Condition Precedent. Tenant shall not have the right or power to request or enter into an Occupancy Transaction if Tenant shall be in default of Tenant's obligations under the provisions of this Lease or any other lease of real property in any shopping center owned (in whole or in part) or managed by Landlord or any partner of Landlord, including any parent, subsidiary, affiliate or successor - in - interest thereof. 12.4 Procedures. (a) If Tenant desires lo enter into an Occupancy Transaction, Tenant shall give notice thereof to Landlord by requesting in writing Landlord's consent to such transaction at least sixty (60) days prior to the effective date of any such transaction and shall furnish Landlord with the following : (i) The full particulars of the proposed transaction, including without limitation its nature, effective dale, terms and conditions, and copies of any and all offers, draft agreements, subleases, letters of commitment or intent, and other documents pertaining to such proposed transaction ; (ii) A description of the identity, net worth and previous business experience of the Transferee, including without limitation copies of the Transferee's latest income, balance sheet and change - of - financial - position statements (with accompanying notes and disclosures of all material changes thereto) in audited form, if available, and certified as accurate by the Transferee ; (iii) Any further information reasonably requested by Landlord following receipt of Tenant's request for consent ; and (iv) The payment of a review fee in the amount of $1 , 500 ("Review Fee"), which shall compensate Landlord for lime expended by Landlord in reviewing Tenant's application for the Occupancy Transaction . The Review Fee shall be earned by Landlord upon receipt of Tenant's application, independent of whether the Occupancy Transaction is approved or disapproved . (b) If Tenant fails to make said written request in accordance with the requirements set forth in this Section 12 . 4 , Tenant's failure shall constitute a material breach of this Lease which Landlord, in its sole discretion, may deem curable in the following manner . If Landlord so elects, then within ten (10) days after Landlord's written demand, Tenant shall make said written request in accordance with Section 12 . 4 (a) and shall pay Landlord as liquidated damages for its breach the greater of (i) three percent (3 %) of the then annual Minimum Rent, or (ii) $5 , 000 . 00 ("Liquidated Damages Payment") . The parties agree that said sum represents a reasonable estimate of Landlord's damages sustained by reason of Tenant's breach, which damages are extremely difficult or impracticable to fix . If Landlord approves the Occupancy Transaction so submitted by Tenant and accepts the Liquidated Damages Payment, then Tenant's breach of the notice requirement of this Section 12 . 4 shall be deemed cured but shall not waive Tenant's default, if any, with respect to any other provision of this Section 12 . Notwithstanding the foregoing, any request for, or entry into, an Occupancy Transaction which has not met with the notice provisions set forth in this Section 12 . 4 shall be of no force or effect until Landlord's consent has been obtained in accordance with this Section 12 . (c) Within thirty (30) days after receipt of Tenant's request for consent, Landlord may respond as follows: (i) consent to the Occupancy Transaction, subject to Section 12 . 6 below ; (ii) refuse to consent to the Occupancy Transaction ; or (iii) terminate this Lease in the event of any assignment of the Lease or sublet of the entire Premises, or terminate this Lease as to a portion of the Premises to be sublet, if the sublease is for less than the entire Premises, with any such termination to be effective thirty (30) days after Tenant's receipt of Landlord's termination notice. Landlord's failure to respond within said thirty (30) day period shall be deemed disapproval of such Occupancy Transaction. The acceptance of rent or other monies by Landlord from any person other than Tenant:# Guarantor: uarantoif'P• Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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Tenant shall not be deemed to be a waiver by Landlord of any provision of this Lease or to be consent to any Occupancy Transactions . The consent by Landlord to an Occupancy Transaction shall not be deemed consent to future Occupancy Transactions . Tenant's remedy for any breach by Landlord of the provisions of this Section 12 shall be limited to specific performance and injunctive relief . 12.5 Documentation and Expenses. Each Occupancy Transaction to which Landlord has consented shall be evidenced by an instrument made in such written fonn as is satisfactory to Landlord and executed by Tenant and Transferee and Guarantors, if any. By such instrument, Transferee shall assume and promise to perfonn the terms, covenants and conditions of this Lease which are obligations of Tenant and the Guarantors shall (i) consent to Tenant's entry into the Occupancy Transaction, (ii) ratify and affirm all of their obligations under the Guaranty of Lease, (iii) acknowledge that as of the date of this Occupancy Transaction, Landlord is not in default under the Lease, nor is there any event or occurrence which, with the giving of notice or the passage of time, or both, would constitute an event of default under the Lease, and (iv) acknowledge that they have no defenses against the enforceability of the Guaranty of Lease . In addition to the Review Fee, Tenant shall, promptly upon demand of Landlord, reimburse Landlord or its designee for Landlord's reasonable third - party costs and expenses, including legal fees incurred in obtaining advice and preparing documentation for each Occupancy Transaction to which Landlord has consented . 12.6 Consideration to Landlord. (a) In the event Landlord shall consent to an Occupancy Transaction, the Minimum Rent specified in Section U shall be increased on the effective date of such transaction to the highest of: (i) The minimum or base rental payable by the Transferee to the Tenant; (ii) An amount equal to the total of the Minimum Rent plus percentage rent (if applicable}, required to be paid by Tenant pursuant to this Lease during the twelve (12) month period immediately preceding such transaction; (iii) The Minimum Rent specified in Section 1.7 for the balance of the Tenn, increased to reflect percentage increases (as reasonably detennined by Landlord) in the Consumer Price Index from the effective date of the Occupancy Transaction; or (iv) Such Minimum Rent as Landlord shall detennine (on a pro rata square footage basis) is the prevailing "market rent" for the Premises by averaging the Minimum Rents obtained by Landlord from the three (3) most recent relatively comparable tenants to lease space in the Shopping Center (as reasonably detennined by Landlord). Lease. In no event shall the Minimum Rent, as adjusted, be less than the Minimum Rent specified in Section 1.7 or elsewhere in this (b) Landlord and Tenant agree that Tenant's payment of the adjusted Minimum Rent and the consideration set forth in Sections 12.6/a \ and 12.6/b l shall result from the occurrence of a pennitted Occupancy Transaction, which is a condition subsequent to the execution of this Lease, and that said payment shall not be a condition precedent to Landlord's agreement to consent to said Occupancy Transaction. 12.7 Nullity/No Merger. Any purported Occupancy Transaction consummated in violation of the provisions of this Section 12 shall be null and void and of no force or effect. The voluntary or other surrender of this Lease by Tenant or a mutual cancellation hereof shall not work a merger and shall, at the option of Landlord, tenninate all or any existing subleases or subtenancies, or shall operate as an assignment to Landlord of such subleases or subtenancies. 12.8 No Release of Liability. In no event shall any fonn of Occupancy Transaction hereunder (whether or not Landlord's consent is required, given or withheld for such Occupancy Transaction) relieve Tenant or any guarantor of any liability under this Lease during the Tenn or any extension or renewal thereof. A default by any Transferee shall be deemed to be a default of this Lease by Tenant. SECTION 13 - DAMAGE OR DESTRUCTION 13.1 Insured Casualty. If the Premises or the building containing the same be destroyed or damaged by fire or other casualty covered by Landlord's "Special Form (All Risk) Coverage" insurance to such an extent that they cannot be repaired and restored within one hundred twenty (120) days as estimated by Landlord's contractor, Landlord shall have the option to tenninate this Lease ; otherwise Landlord shall forthwith and with due diligence, repair and restore said building and Premises to substantially their condition immediately prior to such damage or destruction (but excluding Tenant's Work and other Tenant alterations and additions), subject however to the availability to Landlord of insurance proceeds therefor from Landlord's insurer and/or Landlord's mortgagee or trust deed holder, as the case may be . 13.2 Damage Near End of Tenn. If the damage or destruction referred to in Section 13. 1 amounts to at least 25% of the Premises and occurs during the last eighteen (18) months of the Term, then Landlord shall have the option, at its sole election, to tenninate this Lease effective as of the date of such damage or destruction, and any unearned rents paid in advance shall be refunded . Such election must be made and notice thereof given to Tenant within sixty (60) days from the date of such damage or destruction . If this Lease shall not be tenninated as provided in this Section 13 . 2 , the building and Premises shall be repaired and restored pursuant to the requirements of Section 13 . 1 . 13.3 Damage to Shopping Center. If 33% or more of the total area of all the buildings in the Shopping Center shall be damaged or destroyed by fire or other casualty, Landlord shall have the option, notwithstanding anything to the contrary contained elsewhere in this Lease, at Landlord's election, to terminate this Lease by notice to Tenant at any time after ninety (90) days from the date of such damage or destruction. 13.4 Right of Entry/Construction Obligations. In the event Landlord is either obligated or elects to repair and restore the building and Premises under any of the provisions of this Section 13 , which repair and restoration shall be made only to the requirements of Section 13 . 1 , Landlord shall have the immediate right to enter the Premises for such purposes . During the period of such repair and restoration, Tenant's Minimum Rent shall be abated proportionately to the extent that the Premises are rendered untenantable and Tenant is unable to operate its business therein . Failure of Tenant to pennit such entry, in addition to being a default hereunder, shall delay the abatement of Minimum Rent hereunder, if any, for a period of time equal to the extent of any such delay . Notwithstanding the cause of the damage or destruction (and event if Landlord is at fault), Tenant shall be responsible for the repair and restoration of all items specified as Tenant's Work in Exhibit "C" , as well as Tenant's leasehold improvements, trade fixtures and other property in the Premises . Tenant: - 1 - - Guarantor: Guarantor Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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13.5 Uninsured Casualty. In the event that the Premises are partially or totally destroyed as a result of any casualty or peril not covered by insurance required to be carried by Landlord hereunder, Landlord may within a period of one hundred - twenty (120) days after the occurrence of such destruction (a) commence reconstruction and restoration of the Premises and prosecute the same diligently to completion, in which event this Lease shall continue in full force and effect, or (b) notify Tenant in writing that it elects not to so reconstruct or restore the Premises, in which event this Lease shall cease and terminate as of the date of service of such notice, unless Tenant is unable to continue the operation of its business after the occurrence of such destruction, in which event this Lease shall cease and terminate as of the date of such destruction . 13.6 Mutual Release/No Statutory Termination. Upon any termination of this Lease under any of the provisions of this Section 13.6 , each party shall be released thereby without further obligations to the other party coincident with the surrender of possession of the Premises to Landlord, except for items which have theretofore accrued and are then unpaid and for rights of indemnification for acts or omissions occurring prior to such termination and surrender . Tenant hereby waives any statutory rights of termination and other statutory remedies which may arise by reason of any partial or total destruction of the Premises, and further waives any rights it may have to construe any damage to the Premises as a constructive eviction . SECTION 14 - DEFAULTS; REMEDIES 14.1 Tenant Default. The occurrence of any of the following shall constitute a default and material breach of this Lease by Tenant: (a) Any failure by Tenant to pay any rent or any other sum required to be paid under this Lease, or any part thereof, where such failure continues for three (3) days after written notice thereof from Landlord to Tenant; or (b) Any failure by Tenant to observe or perform any other provision, covenant or condition of this Lease to be observed or performed by Tenant where such failure continues for ten (10) days after written notice thereof from Landlord to Tenant; provided that if the nature of such default is such that the same cannot reasonably be cured within a ten (10) day period, Tenant shall not be deemed to be in default if it shall commence such cure within such period and thereafter rectify and cure said default with due diligence within thirty (30) days after such written notice thereof from Landlord to Tenant; or (c) Abandonment or vacation of the Premises by Tenant (As used in this Lease with respect to the Premises, the terms "vacate" and "abandon" shall be deemed to include, without limiting the broadest meaning of those terms, the failure of Tenant to be open to the public for business in the Premises for a period of ten (10) consecutive days that the Shopping Center shall be open for business to the public unless such failure is excused or permitted under the express terms of this Lease) ; or (d) Tenant or any guarantor of Tenant's obligations under this Lease makes an assignment for the benefit of creditors, files a petition in bankruptcy, takes the benefit of any insolvency act, is dissolved, or adjudicated as bankrupt, or an involuntary petition in bankruptcy is filed by any party against Tenant or any guarantor, a receiver is appointed for Tenant's business or its assets, or Tenant's assets are otherwise seized by process of law . (e) A default by any guarantor under the terms of the Guaranty of Lease, if any. If within any twelve (12) month period during the Term hereof, Tenant shall have failed to perform or been in default under the same Section more than two (2) times and Landlord because of such failures or defaults shall have served upon Tenant within said twelve (12) month period two (2) or more notices of any such failure or default, then any third or subsequent default under said Section within said twelve (12) month period shall be deemed a non - curable default and Landlord, in addition to all other rights and remedies it may have hereunder, shall be entitled to immediate possession of the Premises . 14.2 Remedies. In the event of a default and material breach by Tenant as provided in Section 14. 1 above, Landlord, in addition to any and all other rights and remedies available to it whether hereunder or at law or in equity, at any time thereafter and its sole discretion, without further notice or demand of any kind to Tenant or any other person, may do any one or more of the following: (a) Terminate Tenant's right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord . In such event, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default, including, but not limited to, the cost of recovering possession of the Premises, expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorneys' fees, brokerage fees or commissions, the worth of the past amounts of rent and Other Charges which is due and unpaid, as well as the worth of the amount by which the rent and Other Charges called for herein for the balance of the Term exceeds the worth of the amount which Tenant proves Landlord will receive by making reasonable efforts to avoid loss because of Tenant's default, that portion of any leasing commission paid by Landlord and applicable to the unexpired Term of this Lease, and if Landlord has furnished Tenant with a sum of money, rent abatement, tenant improvement allowance or any other allowance or concession, or with an item or items of value as and for an incentive or allowance for Tenant to enter into this Lease ("Inducement Consideration"), an amount equal to the product obtained by multiplying the number of months remaining under the Term of the Lease times the quotient obtained after dividing the aggregate amount of the Inducement Consideration by the number of months under the original Term . Unpaid installments of rent and Other Charges due hereunder shall bear interest from the date due at the rate of eighteen percent (18 %) per annum or maximum rate permitted by applicable law, whichever is less . The payment of interest is in addition to and shall not diminish or substitute for any or all of Landlord's rights or remedies under any other provision of this Lease ; or (b) Without terminating this Lease, Landlord shall have the immediate right to reenter the Premises and to remove all persons and property therefrom, to make such alterations and repairs as may be necessary in order to relet the leased Premises, or any portion thereof, for such term or terms (which may be for a term extending beyond the Term of this Lease), at such rental or rentals and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable . Upon each such reletting, all rentals received by Landlord from such reletting shall be applied, first, to the payment of any indebtedness other than rental due hereunder from Tenant to Landlord ; second, to the payment of any costs and expenses of such reletting, including brokerage fees or commissions and attorneys' fees and costs of such alterations and repairs ; third, to the payment of rental due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future rental as the same may become due and payable hereunder . If such rental received from such reletting during any month is less than that to be paid during that month by Tenant, Tenant shall pay any such deficiency to Landlord . Such deficiency shall be calculated and paid monthly . Notwithstanding any reentry and reletting without terminating this Lease by Landlord pursuant to this Section 14 . 2 (b} . Landlord may, at any time thereafter, elect to terminate this Lease pursuant to Section 14 . 2 (a} above by delivering a written notice to that effect to Tenant and, thereupon, Landlord shall have all rights and remedies as set forth in Section 14 . 2 (a} ; or (c) Pursue any other remedy now or hereafter available to Landlord under applicable law or in equity. Lease - Page, Tenant: k Guarantor: Guaranto Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant) Landlor { \ .....

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The various rights and remedies herein granted to Landlord shall be cumulative and in addition to any others Landlord may be entitled to by law, and the exercise of one or more rights or remedies shall not impair Landlord's right to exercise any other right or remedy . In the event Landlord shall re - enter and take possession of the Premises upon a default hereunder, Landlord shall not be deemed to have terminated this Lease pursuant to Section 14 . 2 (a) . unless Landlord shall give Tenant a written notice of termination . For purposes of calculating any amounts due from Tenant to Landlord upon any default hereunder by Tenant, the percentage rent (if applicable), that Tenant would have paid to Landlord during the remainder of the Term of this Lease shall be estimated based upon the amount of percentage rent paid by Tenant during the most recently concluded annual percentage rent accounting period . Tenant expressly waives any and all rights of redemption granted by or under any present or future laws if Tenant is evicted or dispossessed for any cause, or if Landlord obtains possession of the Premises by reason of the violation by Tenant of any of the terms, covenants or conditions of this Lease . 14.3 Landlord's Lien/Security Interest . Tenant agrees that Landlord shall have a landlord's lien, and additionally hereby separately grants to Landlord a first and prior security interest, in, on and against all personal property of Tenant from time to time situated on the Premises, which lien and security interest shall secure the payment of all rental and additional charges payable by Tenant to Landlord under the terms hereof . Tenant further agrees to execute and deliver to Landlord from time to time such financing statements and other documents as Landlord may then deem appropriate or necessary to perfect and maintain said lien and security interest, and expressly acknowledges and agrees that, in addition to all other rights and remedies Landlord may have hereunder or at law or in equity, in the event of any default of Tenant hereunder, Landlord shall have any and all rights and remedies granted a secured party under the Uniform Commercial Code then in effect in the State in which the Shopping Center is located . If Tenant shall fail for any reason, within ten (10) days after Landlord's request therefor, to execute any such financing statement or document Landlord shall have the right to execute the same as attorney - in - fact of Tenant, coupled with an interest, for, and on behalf, and in the name of Tenant . 14.4 No Waiver. The waiver by Landlord of any breach of any term, covenant or condition herein contained shall not be deemed to be a waiver of such term, covenant or condition or any subsequent breach of the same or any other term, covenant or condition herein contained . The subsequent acceptance of rent or other sum hereunder by Landlord shall not be deemed to be a waiver of any preceding breach of Tenant of any term, covenant or condition of this Lease, other than the failure of Tenant to pay the particular rent or other sum so accepted, regardless of Landlord's knowledge of such preceding breach at the time of acceptance of such rent or other sum . No endorsement or statement on any check or any letter accompanying any check or payment of a lesser amount of any rent or other sum hereunder shall be deemed an accord and satisfaction, and Landlord's acceptance of such check or lesser amount shall be on account only and without prejudice to Landlord's right to recover the balance of such rent or other sum, none of Landlord's rights and remedies being affected thereby . No covenant, term or condition of this Lease shall be deemed to have been waived by Landlord unless such waiver shall be in writing by Landlord . 14.5 Landlord Default. If Landlord fails to perform or observe any of the terms, covenants or conditions contained in this Lease on Landlord's part to be performed or observed within thirty (30) days after written notice of default from Tenant or, when more than thirty (30) days shall be required because of the nature of the default, if Landlord shall fail to commence to cure such default within thirty (30) days after written notice thereof from Tenant, and thereafter diligently pursue such cure to completion, said failure shall constitute a default by Landlord under this Lease . If the Premises or any part thereof, or any interest of Landlord in this Lease or the rent due hereunder, are at any time subject to any mortgage and if Tenant is given notice of the name and address of the mortgagee, then prior to exercising its remedies under this Lease, Tenant shall give written notice of any Landlord's default to such mortgagee, concurrently with providing notice to Landlord, specifying the default in reasonable detail, and affording such mortgagee the right to perform on behalf of Landlord within thirty (30) days after written notice of Landlord's default from Tenant or, when more than thirty (30) days shall be required because of the nature of the default, within such longer period as shall be reasonable under the circumstances after written notice of Landlord's default from Tenant . If such mortgagee does perform on behalf of Landlord, such default shall be deemed cured and Tenant shall have no further remedies with respect thereto . Tenant hereby waives the right to terminate this Lease for Landlord's defaults, Tenant's remedies being limited to the right to seek damages or specific performance . In the event Tenant makes any claim or asserts any cause of action against Landlord : (a) Tenant's sole and exclusive remedy shall be against the current rents Landlord receives from Landlord's operation of the Shopping Center, net of all current operating expenses, liabilities, reserves and debt service associated with said operation ("Net Income" for purposes of this Section only), and subject to the rights of Landlord's mortgagees ; (b) no real, personal or mixed property of Landlord shall be subject to levy on any judgment obtained against Landlord, (c) if such Net Income is insufficient to satisfy any judgment, Tenant will not institute any further action, suit, claim or demand, in law or in equity, against Landlord for or on the account of such deficiency, and (d) Tenant shall have no right to perform or cure any such alleged defaults of Landlord at Landlord's expense . The limitations set forth in this Section shall be enforceable by Landlord and/or by any member, partner, trustee, officer, employee, agent or property manager of Landlord . SECTION 15 - QUIET POSSESSION Landlord agrees that Tenant, upon paying the rent and performing the covenants and conditions of this Lease, shall quietly have, hold and enjoy the Premises during the Term and any extension thereof, subject to the provisions of this Lease and to all mortgages, deeds of trust, ground or underlying leases, zoning laws, restrictive covenants, easements, rights - of - ways, agreements and encumbrances to which this Lease is or may become subordinate . SECTION 16 - ATTORNEYS' FEES In the event that either Landlord or Tenant shall institute any action or proceeding against the other relating to the provisions of this Lease, or any default hereunder, the unsuccessful party in such action or proceeding agrees to pay to the successful party all attorneys' fees and costs incurred therein by the successful party . Likewise, Landlord shall be entitled to all reasonable attorneys' fees incurred in the preparation and service of any notice or demand hereunder, whether or not a legal action is subsequently commenced . SECTION 17 - EMINENT DOMAIN 17.1 Termination of Lease. (a) Entire Taking: In the event the entire Premises shall be taken under the power of eminent domain, or sold under the threat of the exercise of the power of eminent domain (a "Taking"), then this Lease shall automatically terminate as of the Dale of Taking . All rent and Other Charges shall be paid through the Date of Taking . As used in Section 17 , "Date of Taking" shall mean the date on which Tenant is required by the condemning agency to vacate the Premises . (b) Partial Taking of Premises: In the event a portion of the Premises shall be taken (also a "Taking") and the use thereof is materially impaired thereby, then either Landlord or Tenant shall have the right to terminate this Lease as of the Date of Taking upon giving the other writlen notice of such election not later than thirty (30) days from the Date of Taking . All rent and Other Charges shall be paid through the Date of Taking . If the use of the Premise,yil ; not materially impaired by the Taking, or if materially Tenant Guarantor: uarantor Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant) Landlord ,., r

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impaired but neither party terminates this Lease, then in either such event this Lease shall continue in full force and effect with respect to the remainder of the Premises except that, as of the Date of Taking, Minimum Rent shall be reduced by an amount which is equal to the proportion thereof that the area taken bears to the entire area of the Premises before the Taking, and Landlord shall, at its cost and expense, as soon as reasonably possible restore the Premises on the land remaining to a complete unit of like quality and character as existed prior to such Taking, subject however to the availability to Landlord of condemnation proceeds from the condemning authority and/or Landlord's mortgagee or trust deed holder, as the case may be . Tenant hereby waives any statutory rights of termination which may arise by reason of any partial Taking of the Premises . (c) Taking of Shopping Center: In the event an essential access to the Shopping Center or more than twenty - five (25%) percent of the ground area of the Shopping Center is taken (also a "Taking"), then Landlord shall have the right to terminate this Lease as of the Date of Taking of such portion upon giving Tenant written notice of such election not later than thirty (30) days from the Date of Taking. All rent and Other Charges shall be paid through the Date of Taking. 17.2 Eminent Domain Awards. Any award or payment for the Taking of all or any part of the Premises or the Shopping Center shall be the property of Landlord, whether such award or payment shall be made as a compensation for the diminution and value of any leasehold interest and/or for the Taking of the fee, and/or for severance damages. In no event shall Tenant be entitled to receive any portion of any payment or award made by a condemning authority with respect to the condemnation of the Premises or the Shopping Center, and Tenant hereby waives any and all such claims to such awards or payments ; provided, however, Tenant shall be entitled to any compensation for Tenant's relocation expense and loss of business goodwill so long as such award does decrease the award provided to Landlord . 17.3 Personal Property of Tenant. Provided Tenant is not in default atlhe time of the Taking of the Premises and provided that Tenant's claim does not reduce the amount of any award or payment made to Landlord under Section 17.2 , nothing in this Lease shall prevent Tenant from making a claim against the condemning authority for Tenant's personal property taken or damaged by the condemning authority. SECTION 18 - MORTGAGE AND ATTORNMENT This Lease and all of Tenant's rights hereunder are and shall be subject and subordinate to the lien of all (i) present and future mortgages, deeds of trust, or other encumbrances ("encumbrances") of the Premises or Shopping Center ; (ii) all present and future ground or underlying leases ("underlying leases") of the Premises or Shopping Center now or hereafter in force against the Premises or Shopping Center ; and (iii) all renewals, extensions, modifications, consolidations, and replacements of the items described in foregoing subparts (i) - (ii) . This subordination is self - operative, and no further instrument of subordination shall be required to make it effective . Although the subordination is self - operative and does not require an instrument of subordination in order to be effective, Landlord, and any encumbrance holder or lessor, may request confirmation of subordination, and Tenant shall, within ten (10) days after such request, execute any further instruments or assurances in recordable form as may be reasonably requested to evidence or confirm the subordination of this Lease to any such encumbrances or underlying leases . If the encumbrance holder or lessor should at any time require that Tenant's rights under this Lease be senior and superior to the lien of such encumbrance or underlying lease, Tenant agrees that such encumbrance holder or lessor may, without the requirement of signature or further consent of Tenant, (i) elect, by written notice to Tenant, that this Lease shall be senior to and have priority over that encumbrance or underlying lease whether this Lease is dated before or after the date of the encumbrance or underlying Lease, and (ii) execute and place of record an instrument subordinating the lien of such encumbrance or underlying lease to the rights of Tenant hereunder, provided that Tenant shall be furnished a copy of such instrument, together with the pertinent recording information . Although the signature or further act of Tenant is not necessary, Landlord, and any encumbrance holder or lessor, may request confirmation that Tenant's rights under this Lease be senior and superior to the lien of such encumbrance or underlying lease, and Tenant shall, within ten (10) days after such request, execute any further instruments or assurances in recordable form as may be reasonably requested to evidence such fact . Upon the request and at the sole election of the transferee, Tenant covenants and agrees that it shall attorn to the transferee of Landlord's interest in the Premises or Shopping by foreclosure, deed in lieu of foreclosure, exercise of any remedy provided in any encumbrance or underlying lease, or operation of law, and to recognize the transferee as the lessor under this Lease . The transferee (a) shall not be liable for any act or omission of the prior Landlord ; (b) shall not be liable for payments of any kind owing from the prior Landlord lo Tenant under this Lease or otherwise ; (c) shall not be subject to any offsets, counterclaims, or defenses which Tenant may have against the prior Landlord ; (d) shall not be bound by any agreement purporting to cancel, surrender, amend or modify this Lease, without the express written consent of such Mortgagee ; (e) shall not be required lo rebuild, repair or restore any damage to the Premises or any portion thereof caused by the occurrence of a casualty or condemnation for which there are insufficient casualty or condemnation proceeds to pay the cost of such rebuilding, repair or restoration ; or (f) shall not be liable or responsible to Tenant for any environmental obligations, liabilities or indemnities . Tenant shall within ten (10) days following a request by Landlord or any transferee, execute an attornment agreement confirming the agreements set forth in the immediately preceding sentence, in form and substance reasonably acceptable to Landlord or any transferee . Tenant agrees to give written notice of any default by Landlord to the holder of any prior encumbrance or underlying lease . Tenant agrees that, before it exercises any rights or remedies under the Lease, the encumbrance holder or lessor shall have the right, but not the obligation, to cure the default within the same time, if any, given to Landlord to cure the default, plus an additional thirty (30) days . Tenant agrees that this cure period shall be extended by the lime necessary for the lienholder to begin foreclosure proceedings and to obtain possession of the Premises or Shopping Center, as applicable . Tenant hereby waives the provisions of any statute or rule of law, now or hereafter in effect, that may give or purport to give Tenant any right lo terminate or otherwise adversely affect Landlord's interest in this Lease or reduce or limit the obligations of Tenant thereunder in the event of the prosecution or completion of any foreclosure proceeding . SECTION 19 - SURRENDER OF PREMISES Tenant shall, upon expiration or termination of the Term, surrender the Premises in good condition and repair, reasonable wear and tear excepted . Tenant shall promptly surrender all keys for the Premises at the place then fixed for payment of rent and shall infom 1 Landlord of combinations on any locks and safes on the Premises . At the expiration or earlier tem 1 ination of the Term, Tenant shall execute, acknowledge and deliver to Landlord, within five (5) days after written demand from Landlord to Tenant, any quitclaim deed or other document required by a reputable title company to remove the cloud of this Lease from the real property upon which the Premises are situated . SECTION 20 - HOLDING OVER Tenant has no right to retain possession of the Premises or any part thereof beyond the expiration or termination of this Lease . If Tenant shall hold over after the expiration of the original Term, or any applicable extension or renewal thereof, with the written consent of Landlord, then Tenant shall become a tenant on a month - to - month basis upon all the terms, covenants and conditions herein specified, including payment of percentage rent (if applicable), but excluding of any extension or renewal options . During any hold over period, with or without the consent of Landlord, the Minimum Rent payable on account thereof shall be equal to one hundred fifty percent (150 %) of the Minimum Rent in effect upon the date of expiJ ; alipn of the original Term or, as the case may be, of any Tenant: uarantor: --- / /3uaranto Palo Verde Shopping Center - LBC Bioscience, lnc. (tenant)

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applicable extension or renewal thereof in effect immediately prior to such hold over period. Nothing contained herein shall be construed as consent by Landlord to any holding over by Tenant. SECTION 21 - REIMBURSEMENT All covenants and tenms herein contained to be perfonmed by Tenant shall be performed by it at its expense, and if Landlord shall pay any sum of money or do any act which required the payment of money by reason of the failure of Tenant to perfonm such covenant or term, the sum or sums of money so paid shall be considered as additional rent, subject to late payment charges, and shall be payable by Tenant on the first of the month next succeeding such payment, together with interest at the rate of eighteen percent (18 %) per annum ; or the maximum rate penmitted by applicable law, whichever is less . The payment of interest is in addition to and shall not diminish or substitute for any or all of Landlord's rights or remedies under any other provision of this Lease . SECTION 22 - CONSENTS BY LANDLORD Whenever under this Lease provision is made for Tenant to secure the consent or approval by Landlord, unless otherwise expressly provided to the contrary in connection with such provision, such consent or approval shall be in writing and shall not be unreasonably withheld . SECTION 23 - NOTICES Any notice, demand, request, consent, covenant, approval or other communication to be given by one party to the other must be in writing and (except for statements and invoices to be given in the ordinary course hereunder, which may be sent by regular U . S . Mail) (a) delivered personally ; (b) mailed by certified United States mail, postage prepaid, return receipt requested (except for statements and invoices to be given in the ordinary course hereunder, which may be sent by regular U . S . Mail} ; (c) sent by nationally recognized overnight courier ; or (d) sent by email and confinmed by one of the other methods set forth herein . The effective date of notice shall be (i) for any notice delivered in person, the date of delivery ; (ii) for any notice by U . S . mail, three (3) days after the date of certification thereof ; (iii) for any notice by overnight courier, the nex) business day after deposit with the courier ; and (iv) for any notice by email, the date of delivery, if received before 5 : 00 p . m . at the location delivered, or the next day if after 5 : 00 p . m . All notices shall be delivered or addressed to the parties at their respective addresses as set forth in Section 1 . 14 , with respect to Tenant prior to the Rent Commencement Date (from and after Tenant's possession of the Premises, notice to Tenant shall be given at the Premises) and Section 1 . 15 , with respect to Landlord . Either party may change the address at which it desires to receive notice upon giving notice of such request to the other party in the manner provided herein ; provided, however, no address may be a P . O . Box . Landlord and Tenant, and their respective counsel, hereby agree that notice may be given hereunder by the parties' respective counsel, and that if any communication is to be given hereunder by Landlord's or Tenant's counsel, such counsel may communicate directly with all principals, as required to comply with the foregoing provisions . SECTION 24 - SALE OF PREMISES BY LANDLORD OR RE - LEASING In the event of any sale or exchange of the Premises by Landlord and assignment by Landlord of this Lease (including the transfer of the unused Security Deposit to the grantee or assignee), Landlord shall be and is hereby entirely relieved of all liability under all of its covenants and obligations contained in or derived from this Lease (including any liability whatsoever for the Security Deposit) and Tenant shall attom to Landlord's grantee or assignee . Landlord and its authorized agents and representatives shall be entitled, at any time (i) during the Tenm, to enter the Premises at all reasonable times for the purpose of exhibiting the same to prospective purchasers and shall be entitled to display on the Premises "For Sale" signs, and such signs shall remain unmolested on the Premises ; and, (ii) during the final six (6) months of the Term and any extension or renewal of the Tenm hereof, to exhibit the Premises for hire and shall be entitled to display on the Premises "For Lease" signs, and such signs shall remain unmolested on the Premises . SECTION 25 - SECURITY DEPOSIT A security deposit shall be paid by Tenant to Landlord upon execution of this Lease . Said deposit shall be held by Landlord without liability for interest as security for the faithful performance by Tenant of all the terms of this Lease . Tenant expressly acknowledges and agrees that said security deposit may be held by Landlord beyond the expiration or earlier tenmination of the Tenm until all rent and other sums due or to become due hereunder have been fully paid by Tenant, including without limitation the pro rating, billing and payment of all year - end adjustments made or to be made under this Lease . In the event of bankruptcy or other debtor creditor proceedings by or against Tenant, the security deposit shall be deemed to be applied first to the payment of rent and Other Charges due Landlord for the earliest period prior to filing of such proceedings . Landlord shall have the right to commingle said security deposit with its other funds . If any of the rent or any other sum payable by Tenant should be overdue and unpaid or if Landlord shall make payments on behalf of Tenant, or if Tenant should fail to perform any of the tenms of this Lease, then Landlord may, at its option and without prejudice to any other right or remedy appropriate, apply said deposit or so much thereof as may be necessary to compensate Landlord toward the payment of rent or Other Charges, expenses, fees (including, without limitation, attorneys' fees), loss or damage sustained by Landlord due to such breach on the part of Tenant ; and Tenant shall upon demand restore said security to the original sum deposited . Subject to all other provisions of this Section 25 , provided Tenant complies with all of the terms of this Lease, said deposit or any balance thereof shall be returned to Tenant or, at the option of Landlord, to the last assignee of Tenant's interest in this Lease at the expiration of the Tenm . SECTION 26 - RELOCATION Landlord shall have the right to relocate Tenant's operation to other premises (the "New Premises") in another part of the Shopping Center in accordance with the following : The New Premises shall be substantially the same in size and configuration as the Premises described in this Lease . The tenm "substantially the same in size" as used in the preceding sentence shall be deemed to mean that the Floor Area of the New Premises shall not be increased or decreased by more than ten percent (10 %) . Landlord shall deliver the New Premises to Tenant in a state substantially similar to the state then existing at the Premises described in this Lease, exclusive of trade fixtures and equipment, furnishings, decorations and other items of personal property . The reasonable cost of moving Tenant's trade fixtures and equipment, inventory and items of personal property into the New Premises shall be borne by Landlord . Landlord shall give Tenant at least sixty (60) days' notice of Landlord's intention to relocate Tenant's operation to the New Premises . The physical move shall take place during nonbusiness hours if reasonably possible or during such other period as shall be mutually agreed upon by Landlord and Tenant . Minimum Rent shall abate for any period during which Tenant's operation shall be closed to the public as a result of the relocation . Landlord shall not have the right to relocate Tenant's operation more than twice during the Lease Tenm . If the New Premises are smaller or larger than the Premises described in this Lease, Minimum Rent shall be adjusted (subject to increases therein as may otherwise be provided under the Lease, which increases shall be similarly adjusted) to a sum computed by multiplying the Minimum Rent by a fraction, the numerator of which shall be the total number of square feet of Floor Area in the New Premises and the denominator of which shall be the total number of square feet of Floor Area in the Premises described in this Lease . Tenant: Guaranto r: Guarantor:it Palo Verde Shopping Center - LBC Bioscience, lnc. (tenant) Landlord: 'ff / I

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All Other Charges based upon Floor Area shall likewise be adjusted proportionately. The parties shall immediately execute an amendment to this Lease staling the relocation of Tenant to the New Premises and the modifications hereinabove required. SECTION 27 - LIABILITY OF LANDLORD Tenant, subject to any additional limitations contained elsewhere in this Lease, shall look solely to Landlord's interest in the Premises and the Shopping Center of which the Premises are a part for the satisfaction of any judgment or decree requiring the payment of money by Landlord based upon any default under this Lease or upon any act or omission of any partner, member, shareholder or director of Landlord (including also any of the respective successors of any of the foregoing), as the case may be, arising out of this Lease or relating in any way thereto or to the Shopping Center, and no other property or assets of Landlord or of said partners, members, shareholders or directors of Landlord (including also any of the respective successors of any of the foregoing), as the case may be, shall be subject to levy, execution or other enforcement procedures for satisfaction of any such judgment or decree . Notwithstanding anything to the contrary contained in this Lease, Landlord shall in no event be liable to Tenant for any indirect or consequential damages, or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages and agrees to cover such losses by obtaining such insurance as Tenant deems appropriate to cover such losses . SECTION 28 - GRANT OF EASEMENTS Tenant hereby consents to any and all conveyances or grants of easements upon the Premises and Common Areas which Landlord reasonably determines to be necessary in order to adequately provide utilities to, or ingress and egress to or from, premises within the Shopping Center. SECTION 29 - PARTIAL INVALIDITY If any provision of this Lease is detenmined to be void by any court of competent jurisdiction, such determination shall not affect any other provision of this Lease and such other provision shall remain in full force and effect . If any provision of this Lease is capable of two constructions, one of which would render the provision void and one of which would render the provision valid, the provision shall be interpreted in the manner which would render it valid . Tenant's obligation to pay rent and Other Charges under this Lease shall be independent of all other obligations and covenants of Landlord under this Lease . SECTION 30 • ESTOPPEL CERTIFICATES AND FINANCIAL STATEMENTS 30.1 Tenant agrees to deliver to Landlord, from time to time, within ten (10) days after request therefore, a certificate stating that this Lease is in full force and effect and that Landlord is not in default hereunder (or specifying any defaults by Landlord which Tenant may wish to allege), certifying the Rent Commencement Date and tenmination dale oflhe Tenm of this Lease, setting forth the amount of prepaid rent and security deposits made hereunder and providing any further information about this Lease or the Premises which Landlord may reasonably request . Tenant understands that prospective or then existing lenders, purchasers, lessors or transferees of the Shopping Center will rely on such certificates and that Tenant's obligation to deliver such certificates within ten (10) days as aforesaid is a material obligation of Tenant hereunder . In the event Tenant shall fail to timely deliver such certificates or instruments pursuant to this Section 30 , Landlord shall have the right to execute the same on behalf of Tenant as Tenant's authorized agent and/or attorney - in - fact . 30.2 Tenant agrees to deliver to Landlord (and to Landlord's managing agent, any prospective or then existing lenders, lessors, purchasers or transferees of the Shopping Center, as well as to any parent, subsidiary, affiliate or partner of any of the foregoing), from time to lime, within ten (10) days after request therefore, (and to Landlord's managing agent, any prospective or then existing lender, purchaser or transferee of Landlord's interest in the Shopping Center, as well as to any parent, subsidiary, affiliate or partner of any of the foregoing) the then most current financial statement(s) of Tenant and of any guarantor of this Lease prepared in accordance with generally accepted accounting principles, consistently applied and accurately reflecting the then existing financial condition of Tenant and such guarantor (if any), together with such additional financial information as may be reasonably requested by Landlord . SECTION 31 - NO DEDICATION In order to establish that the Shopping Center, and any portion thereof, is and will continue to remain private property, Landlord shall have unrestricted right in Landlord's sole discretion, with respect to the entire Shopping Center and/or any portion thereof owned or controlled by Landlord, to close the same to the general public for one (1) day in each calendar year, and in connection therewith, to seal off all entrances to the Shopping Center, or any portion thereof . SECTION 32 - LATE PAYMENT CHARGE Tenant hereby acknowledges that late payment by Tenant to Landlord of rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is extremely difficult to ascertain . Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by the tenms of any mortgage or deed of trust covering the Premises . Accordingly, if any installment of rent or any other sum due from Tenant shall not be received by Landlord or Landlord's designee when said amount is due, then for each month such amount is due and unpaid Tenant shall pay to Landlord, in addition to interest that may otherwise be due under the tenms of this Lease, a late charge equal to the greater of (a) ten percent (10 %) of the amount then due and unpaid or (b) Four Hundred Dollars ($400 . 00) and, in addition to said greater amount, any and all attorneys' fees and costs incurred by Landlord by reason of Tenant's failure to pay rent and/or Other Charges when due hereunder . The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of the late payment by Tenant . Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder . Tenant hereby agrees that if Tenant is subject to late charges for two consecutive months, Minimum Rent for the following twelve (12) months shall automatically be adjusted to be payable quarterly, in advance, commencing upon the first day of the month following such consecutive late month and continuing for the next twelve (12) months on a quarterly basis in advance . The payment of late charges are in addition to and shall not diminish or substitute for any or all of Landlord's rights or remedies under any other provision of this Lease . SECTION 33 - MISCELLANEOUS PROVISIONS 33.1 Warranty of Authority. If Tenant is other than a natural person, the persons executing this Lease on behalf of Tenant hereby covenant and warrant that: they are duly authorized to execute this Lease on behalf of Tenant; Tenant is duly qualified in all respects; all steps have been taken prior to the dale hereof to qualify Tenant to do business in the State in which the Shopping Center Lease - Pa.a Tenant: - - ? - - Guarantor: uarantor: iL Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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is located; all franchise and other taxes have been paid to date; and all forms, reports, fees and other documents necessary to comply with applicable laws will be filed when due. 33.2 Joint and Several Liability. If more than one person, corporation or other entity is named as Tenant in this Lease and executes the same as such, then and in such event, the word "Tenant" wherever used in this Lease is intended to refer to all such persons, corporations or other entities, and the liability of such persons, corporations or other entities for compliance with and performance of all the terms, covenants and provisions of this Lease shall be joint and several . If Tenant shall be a partnership, the liability of each and every partner thereof for compliance with and performance of all the terms, covenants and provisions of this Lease shall be joint and several, and no withdrawing partner shall be relieved of any liability hereunder as the result of any such withdrawal . If Tenant is composed in whole or in part of a husband and wife, the separate property and estate of each spouse as well as the total of their combined property and estates (regardless of however such property or estates may be designated, whether community, marital or otherwise) to which either may have any claim or interest whatsoever based upon their marital status shall be liable hereunder . 33.3 Entire Agreement. It is understood and acknowledged that there are no oral agreements between the parties hereto affecting this Lease, and this Lease supersedes and cancels any and all previous negotiations, arrangements, brochures, agreements and understandings, if any, between the parties hereto or displayed by Landlord to Tenant with respect to the subject matter thereof, and none thereof shall be used to interpret or construe this Lease . This Lease is and shall be considered to be the only lease agreement between the parties relative to the Premises hereto and their respective representatives and agents as of the date hereof . All negotiations and oral agreements acceptable to both parties have been merged into and are included herein, and no modification of this Lease shall be effective unless the same shall be in writing and be signed by the parties hereto or, as the case may be, their respective successors or assigns . There are no other representations or warranties between the parties, either express or implied, and all reliance with respect to representations is solely upon the representations and agreements contained in this document . 33.4 Intent - Triple Net Lease. Anything to the contrary notwithstanding contained herein or otherwise, this Lease shall be deemed to be construed as a triple net lease and any and all expenses and obligations in connection with the Shopping Center and the operation thereof not included in Tenant's rent or other Charges hereunder, except where the same are expressly the obligation of Landlord, also will be the obligation of the tenants and each tenant will be liable and obligated for its proportionate share calculated and charged in the manner set forth in Section 3 _ ;: i : nd 4 . 33.5 Right to Lease . Except as otherwise specifically provided in this Lease, Landlord reserves the absolute right to effect such other tenancies in the Shopping Center as Landlord in the exercise of its sole business judgment shall determine to best promote the interests of the Shopping Center . Tenant does not rely on the fact, nor does Landlord represent, that any specific tenant or type or number of tenants shall during the Term occupy any space in the Shopping Center . In the event of a conflict between this Section and any exclusive use right, the provisions of the exclusive use right shall control . 33.6 Governing Law . The laws of the State in which the Shopping Center is located shall govern the validity, construction, performance and enforcement of this Lease. Should either party institute legal action to enforce any obligation contained herein, it is agreed that the venue of such suit or action shall be in the State and County in which the Shopping Center is located, or such other place where Landlord may from time to time properly designate, Tenant expressly consenting to Landlord designating the venue of any such suit or action . Although the printed provisions of this Lease were drawn by Landlord, this Lease shall not be construed either for or against Landlord or Tenant, but shall be interpreted in accordance with the general tenor of its language . LANDLORD AND TENANT WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY OF ANY CONTRACT OR TORT CLAIM, COUNTERCLAIM, CROSS COMPLAINT OR CAUSE OF ACTION IN ANY ACTION, PROCEEDING OR HEARING BROUGHT BY EITHER LANDLORD OR TENANT AGAINST THE OTHER ON ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED TO THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, OR TENANT'S USE OR OCCUPANCY OF THE PREMISES, INCLUDING ANY CLAIM OF INJURY OR DAMAGE OR THE ENFORCEMENT OF ANY REMEDY UNDER ANY CURRENT OR FUTURE LAW, STATUTE, REGULATION, CODE OR ORDINANCE . 33.7 Delayed Performance. Any prevention, delay or stoppage due to strikes, lockouts, labor disputes, inability to obtain labor or materials or reasonable substitutes therefor, acts of God, Healthcare Events (defined below), Government Actions (defined below), Healthcare Emergency (defined below), civil commotions, fire or other casualty, and other causes beyond the reasonable control of the party obligated to perform, shall excuse and extend the time for performance of Non - Monetary Obligations (defined below) of such party for the actual number of days (including any partial day(s)) of any such prevention, delay or stoppage, subject to the following : (i) any delay shall be subject to the delayed party giving notice to the other party within five (5) days after the occurrence of the cause of the delay ; (ii) the delayed party shall use commercially reasonable diligence to avoid or minimize the effects of a the covered event and resume performance ; (iii) any delay must be beyond the reasonable control and without fault or negligence of the performing party, and its agents and employees ; (iv) if any causes or events that excuse delayed performance under this this Section occur concurrenfly or overlap, the total period of any excused delay under this Section shall be limited to the number of days that the delayed party's performance is actually delayed as a result of all such causes or events ; (v) upon request of Landlord at any time and from time - to - time during the Term, Landlord and Tenant shall enter into a written agreement (or amendment to this Lease) documenting any such delays, the circumstances leading thereto, and the length of any delays in performance excused pursuant to this Section as a result thereof ; and (vi) the Term shall not be extended as a result of any excused delays in performance pursuant to this Section . The performance of a party's obligations under this Lease that are Monetary Obligations (defined below) shall not be excused or delayed by the provisions of this Section . As used in this Lease, "Monetary Obligations" means the obligations of the parties under this Lease that can be performed by the payment of money ; and "Non - Monetary Obligations" means the obligations of the parties under this Lease that are not Monetary Obligations . 33.8 Healthcare Events. (a) Tenant hereby acknowledges and agrees that it is aware of the specific risks and consequences arising from and related to the COVID - 19 pandemic (the "Existing Healthcare Emer - gency") as it applies or may apply to Tenant's business and this Lease, including all Government Actions associated therewith and all potential damage or injury to person or property resulting therefrom (collectively and respectively, the "Risks") . Tenant hereby specifically assumes the Risks and, to fullest extent allowed by law and/or in equity, hereby : (i) waives any and all rights it has to relief or procedures specified in all Government Actions ; (ii) waives and is hereby estopped both at law and in equity from asserting any rights of a tenant under all Government Actions ; and (iii) waives and releases all other defenses, rights, and entitlements at law, in equity, under this Lease, or pursuant to statute to which Tenant may now or hereafter be entitled against Landlord and to the enforcement of Landlord's rights and remedies under this Lease relating to the Existing Healthcare Emergency, including without limitation any defenses based on frustration of purpose or impossibility of performance . Further, to fullest extent allowed by law and/or in equity, Tenant hereby agrees that under no circumstances shall Landlord have any liability whatsoever arising from or related to the Risks, the Existing Healthcare Emergency, or any other Healthcare Emergency or Healthcare Event, and Tenant hereby waives and releases all defenses, rights, and entitlements at law, in equity, under this Lease, or pursuant to statute to which Tenant may now or hereafter be entitled against Landlord in connection with any and all of the foregoing . Under no circumstances shall the performance of a party's obligations under this Lease that are Monetary Obligations be Tenant: Guarantor: - t --- Guarantor: Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant) - - ·· -

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excused or delayed as a result of the Existing Healthcare Emergency or any other Healthcare Emergency or Healthcare Event . The excused delay of performance of Tenant's Non - Monetary Obligations in accordance with Section 33 . 7 is the sole and exclusive remedy of Tenant against Landlord in connection with the Existing Healthcare Emergency and any and all other Healthcare Events and Healthcare Emergencies . (b) Without limiting the rights of Landlord otherwise set forth in this Lease, in connection with any Healthcare Event or Healthcare Emergency, Landlord, in Landlord's sole but commercially reasonable discretion, shall have the right (but not the obligation), to impose reasonable requirements on Tenant and other tenants of the Shopping Center, their employees and invitees, for the purpose of reducing the presence of bacteria, viruses, contagions and diseases in the Shopping Center, provided, however that in no event shall Landlord's enactment or enforcement of such requirements (or failure to do the same) impose any duty or liability on Landlord or imply any warranty made by Landlord in connection therewith . If Landlord suspends or modifies a service that Landlord is otherwise obligated to provide to Tenant pursuant to this Lease as a result of any Healthcare Event or Healthcare Emergency, then such suspension or modification shall not be deemed a Landlord default under this Lease and Landlord shall have no liability therefor . (c) As used herein, "Healthcare Event" means one or more Government Actions requiring mandatory action on the part of Landlord, Tenant, and/or the general public at the Shopping Center and/or Premises in response to a Healthcare Emergency ; "Government Actions" means any rules, orders, regulations, or public health advisories promulgated or issued by any national, state, regional, or local governmental or quasi - governmental agency, department, subdivision, or instrumentality thereof having jurisdiction over Landlord, Tenant, and/or the Shopping Center ; and "Healthcare Emergency" means any infectious disease, epidemic, pandemic, or other health related matter . 33.9 Cumulative Rights . The various rights, options, elections, powers and remedies contained in this Lease shall be construed as cumulative and no one of them shall be exclusive of any of the others, or of any other legal or equitable remedy which either party might otherwise have in the event of breach or default in the terms hereof, and the exercise of one right or remedy by such party shall not impair its right to any other right or remedy until all obligations imposed upon the other party have been fully performed. 33.10 this Lease. Time. Time is of the essence with respect to the performance of each of the covenants and agreements contained in 33.11 Tenant's Advertising. Landlord reserves the right to change the name or address of the Shopping Center from time to time and upon notice of a name or address change, Tenant shall thereafter use the new name or address designated by Landlord in all advertising mediums. 33.12 Relationship of Parties . Nothing contained in this Lease shall be deemed or construed by the parties hereto or by any third person to create the relationship of principal and agent or of partnership or of joint venture or of any association between Landlord and Tenant, and neither the method of computation of rent nor any other provision contained in this Lease nor any acts of the parties hereto shall be deemed to create any relationship between Landlord and Tenant other than the relationship of Landlord and Tenant. 33.13 Consent of Landlord and Tenant. In the event of the failure of Landlord or Tenant to give any consent or approval required herein, if it is provided herein that any such consent or approval shall not be unreasonably withheld or delayed, the requesting party shall be entitled to seek specific performance and shall have such other remedies as are reserved to it under this Lease, but in no event shall Landlord or Tenant be responsible for damages to anyone for such failure to give consent or approval. 33.14 Document Review . In the event Tenant makes any request upon Landlord causing or requiring Landlord to process, review, negotiate and/or prepare (or cause to be processed, reviewed, negotiated and/or prepared) any document or documents in connection with or arising out of or as a result of this Lease, then, except as may be expressly stated elsewhere herein or in connection with Landlord's review of Tenant's initial construction drawings submitted in accordance with the provisions of Exhibit "C" , Tenant agrees to reimburse Landlord or its designee promptly upon demand therefor all of Landlord's third - party costs and expenses (including but not limited to attorneys' fees) in conjunction with each such request . 33.15 Usury . Notwithstanding any provision contained herein to the contrary, if any interest rate specified in this Lease is higher than the rate then permitted by law, such interest rate specified herein shall automatically be adjusted from time to time to the maximum rate permitted by law. 33.16 No Brokerage. Except for the broker set forth in Section 1.15 , Tenant covenants, warrants and represents to Landlord that no conversation or negotiations were had by Tenant with any broker, agent, subagent, salesperson or finder concerning the leasing of the Premises . Tenant agrees to protect, indemnify, save and keep harmless Landlord, against and from all liabilities, claims, losses, costs, damages and expenses, including attorneys' fees, arising out of, resulting from or in connection with a breach of the foregoing covenant, warranty and representation. Landlord hereby expressly agrees to pay all brokerage commissions payable, if any, to such Tenant's broker as a consequence of the lease transaction pursuant to a separate agreement and shall indemnify Tenant therefore. 33.17 Options. If Tenant is granted an Option, as defined below, then the following provisions shall apply: (a) Definition. "Option" shall mean: (i) the right to ex1end the term of or renew this Lease; (ii) the right of first refusal or first offer to lease either the Premises or other property of Landlord; (iii) the right to purchase or the right of first refusal to purchase the Premises or other property of Landlord. (b) Options Personal to Original Tenant. Any Option granted to Tenant in this Lease is personal to the original Tenant, and cannot be assigned or exercised by anyone other than said original Tenant and only while the original Tenant is in full possession of the Premises and, if requested by Landlord, with Tenant certifying that Tenant has no intention of thereafter assigning or subletting . (c) Multiple Options. In the event that Tenant has any multiple Options to extend or renew this Lease, a later Option cannot be exercised unless the prior Options have been validly exercised. (d) Effect of Default on Options. Tenant shall have no right to exercise an Option: (i) during the period commencing with the giving of any notice of default and continuing until said default is cured, (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Tenant), (iii) during the time Tenant is in default and material breach beyond applicable cure periods under this Lease, or (iv) in the event that Tenant has been given 3 or more notices of separate default, whether or not the defaults are cured, during the 12 month period immediately preceding the exercise of the Option . The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Section 33 . 7 or Section 33 . 8 , or Tenant's inability to timely exercise an Option because of the provisions of this Section 33 . 17 . An Option shall terminate and be of no further force or effect, notwithstanding Tenant's due and timely exercise of the Option, if, after suyl ; l exercise and prior to the commencement of the ex 1 ended Tenant: Guarantor: GuarantoefL Palo Verde Shopping Center - LBC Bioscience, Inc. cfe nt) Landt : _ /""'

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term or completion of the purchase, (i) Tenant fails to pay Rent for a period of 10 days after such Rent becomes due (without any necessity of Landlord to give notice thereof), or (ii) if Tenant commits a default and material breach beyond applicable cure periods under this Lease . 33.18 Security Measures. Tenant hereby acknowledges that the rent payable to Landlord hereunder does not include the cost of guard services or other security measures, and that Landlord shall have no obligation whatsoever to provide same. Tenant assumes all responsibility for the protection of the Premises, Tenant, its agents and invitees and their property from the acts of third parties . While Landlord does not assume any responsibility to provide an security measures or any liability for failure to provide security measures or for any inadequacy thereof, Landlord shall have the authority to institute or continue such security measures as Landlord in its sole discretion deems necessary or appropriate from time to lime, the cost and expenses of which shall be considered Common Area Expenses . To the degree directed by Landlord, Tenant shall coordinate its security measures at the Premises with the security measures instituted by Landlord, if any . 33.19 No Offer. The submission of this document to Tenant for examination does not constitute an offer to lease, or a reservation of or option to lease, and becomes effective only upon full execution and delivery thereof by Landlord and Tenant. Upon execution of this Lease by Tenant, Landlord is hereby granted an irrevocable option for thirty (30) days to execute this Lease within said period and to thereafter return a fully executed copy to Tenant . The return to Landlord of Tenant - executed copies of this Lease shall not be binding upon Landlord, notwithstanding any preparation or anticipatory reliance or expenditures by Tenant or any time interval, until Landlord has in fact executed and actually delivered a fully executed copy of this Lease to Tenant . 33.20 No Recording. Tenant shall not record or file for record (nor cause the same to be recorded or filed for record) this Lease or any copy thereof. Tenant agrees that upon the request of Landlord, Tenant will execute a so - called "short form" lease or "memorandum of lease" in a form reasonably satisfactory to Landlord. 33.21 Confidentiality . Landlord and Tenant agree that the terms of this Lease are confidential and constitute proprietary information of the parties. Tenant acknowledges that disclosure of the terms could adversely affect the ability of Landlord to negotiate with other tenants of the Shopping Center. Each of the parties agrees that they and their respective partners, officers, directors, members, managers, employees, contractors, agents, attorneys, and other representatives will not disclose the terms of this Lease to any other person without the prior written consent of the other party, except by order of a court of competent jurisdiction, provided that Landlord may disclose the terms to any lender having a lien on Landlord's interest in the Shopping Center or to any potential lender or purchaser of Landlord's interest in the Shopping Center, and either party may disclose the terms to their independent accountants who review financial statements or prepare tax returns ; to any prospective transferee of all or any portion of their Lease interests (e . g . , a prospective sublessee, assignee, leasehold mortgagee of Tenant, or a potential investor in Tenant) ; to their attorneys, brokers, agents, and other consultants ; to any governmental entity, agency, or person to whom disclosure is required by applicable law, regulation, or duty of diligent inquiry ; and in connection with any action brought to enforce the terms of this Lease or to seek a judicial determination of the rights or obligations of the parties under this Lease . 33.22 Counterparts: Signatures. This Lease may be executed in any number of duplicate originals, all of which shall be of equal legal force and effect. Additionally, this Lease may be executed in counterparts, but shall become effective only after each party has executed a counterpart hereof ; all said counterparts, when taken together, shall constitute the entire single agreement between the parties . This Lease may be executed by a party's signature transmitted by facsimile ("fax") or email or by a party's electronic signature, and copies of this Lease executed and delivered by means of faxed or emailed copies of signatures or originals of this Lease executed by electronic signature shall have the same force and effect as copies hereof executed and delivered with original wet signatures . All parties hereto may rely upon faxed, emailed or electronic signatures as if such signatures were original signatures . [SIGNATURES FOLLOW ON THE NEXT PAGE] Tenant: - /..JV Guarantor: - f./ Guarantor1..J!: Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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IN WITNESS WHEREOF, Landlord and Tenant have duly executed and delivered this Lease as of the day and year first above written. LANDLORD: TENANT: ECG New Palo Verde LLC, an Arizona limited liability company By: Ethan Christopyrer '}!rizona, LLC, an Arizona li,yfted yability company, its mana, By: AJ;it 'ij r6 w e, Authorii< # i \ Siqnatorv LBC Bioscience, Inc., an Arizona corporation By:£,; ; - Name Printed: £,.,;,,._ N e):Su l't Title: j, a 5> • e...,... ._,+ - / (,, 62 Tenant must deliver to Landlord evidence in a form reasonably acceptable to Landlord that the signatory(ies) is to execute this Lease on behalf of the (are) authorized Tenant. Lease - Page 22 Signature Page Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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EXHIBIT "A" SITE PLAN This Exhibit "A" is a description and diagram of the Premises for information purposes and is intended only as a general description of contemplated (but not represented, covenanted or warranted) improvements of the Shopping Center and the Premises . Specific names, locations, dimensions of spaces or buildings, entrances, or improvements are not intended to be (nor should they be) relied upon as the same are subject to change, modification and deletion by Landlord and/or other parties and are not in any way to be construed as a representation, covenant or warranty as to the opening or continued operation of any store or occupancy named or depicted on this Exhibit "A" .

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EXHIBIT "B" PALO VERDE SQUARE SHOPPING CENTER SIGN CRITERIA I. INTRODUCTION The intent of this sign criteria is to establish and maintain a continuity of quality and aesthetics throughout the project for the mutual benefit of all Tenants and to comply with the regulations of the City of Scottsdale. GENERAL REQUIREMENTS II. A. Each Tenant (or representative) shall submit two (2) sets of scale drawings of the proposed signage for approval be Landlord indicating the location size, layout, design, color, illumination and method of attachment. An approved copy will be returned. All signs shall be constructed and installed at Tenant's sole expense. All signs shall be reviewed for conformance with these criteria and overall design quality. Approval or disapproval of sign submittals based on aesthetics of design shall remain the sole right of Landlord. Signs installed without written approval of the Landlord may be subject to removal and proper installation as Tenant's expense . Damages may be assessed to cover costs of repairs to sign band or removal of signage resulting from unapproved installations . Tenant and his sign contractor shall repair any damage caused during installation of the signage. Flashing, animated or audible signs are not permitted. No window signs are permitted without the written approval of the Landlord. All signs and their installation must comply with all uniform building and electrical codes. All electrical signs shall bear U.L. labels. No portable signs, posters, banners or flags shall be permitted. Tenant shall be responsible for obtaining all sign permits from the City of Scottsdale prior to installation of signage. All sign companies contracted by Tenant must carry workman's compensation and public liability insurance against suffered or done to any and all persons and/or property while engaged in the construction or erection of signs in the amount of one million and no/100 dollars ($1,000,000.00) per occurrence. Landlord shall be added as an additional insured. Landlord's approval is contingent upon receipt of a proper insurance certificate from Tenant's sign vendor. No illumination is allowed adjacent to residential. Interior signage only. B. C. D. E. F. G. H. I. J. K. L. Ill. SPECIFIC TENANT RESPONSIBILITIES A. Each tenant shall, at their own expense, install and maintain their own identification sign in accordance with specifications noted herein. Should Tenant's sign require maintenance or repair, Landlord shall give Tenant thirty (30) day's written notice to perform said maintenance or repair. Should Tenant fail to perform, Landlord shall undertake repairs and Tenant shall reimburse Landlord within ten (10) days from receipt of invoice. B. Each tenant shall, at their own expense, provide and maintain electrical service to their building. IV. GENERAL CONSTRUCTION REQUIREMENTS A. All exterior sign fasteners, bolts, screws and/or clips shall be made of a hot - dipped galvanized steel or aluminum and in case shall black iron materials used. Locations of all openings for conduit and sleeves in building walls shall be indicated by the sign contractor on drawings submitted for approval by the Landlord's architect. The sign contractor shall install the same in accordance with the approved drawings. No labels shall be permitted on the exposed surface of signs, except those required by ordinance. All penetrations through the building facia required for the sign installation shall be neatly sealed in a water tight condition. B. C. D. V. DESIGN REQUIREMENTS FOR INLINE SHOP TENANTS A. Identification signs shall be designed as an integral part of the storefronts in a manner complimentary to adjacent and facing storefronts. B. The Landlord has provided a sign band within the canopy above all storefronts. Each tenant's sign shall be attached to the sign band above their leased frontage. In no case shall the overall length of the signage exceed 75% of the tenants leased frontage. The overall square footage of the sign shall not exceed one (1) square foot of sign area for each lineal foot of leased frontage. ',"!" ant has multiple frontages, the maximum Tenant Guarantor: 1' - -- Guarantor Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant) Landlord:/ If '). C - - "

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aggregate sign for each shop shall be calculated at one and one half (1 - 1/2) square foot of sign area for each lineal foot of leased frontage upon which the sign is attached. Tenants will be allowed a maximum letter height of 24" for one (1) line of copy and a maximum overall height of 30" for two (2) lines of copy with a minimum 4"spacing between lines. A maximum logo height of 30' will be allowed. Logos shall be permitted subject to the City of Scottsdale and Landlord approval. Fabrication Specifications: C. D. E. 1. Letters and logos shall be defined as pan channel internally illuminated signage fabricated from 22 gauge paint - lok sheet steel or minimum .063 aluminum. Letters and logos shall be have 5" deep returns painted Matthews acrylic polyurethane #41 - 335 Black Anodic. The letter face color shall be open subject to the prior approval of Landlord and City of Scottsdale . Letters and logo shall have¾' or 1 ' trimcap . Trimcap color may be either black or may match face color . Letters and logos shall be internally illuminated with either neon or LEDs . Letter styles and logos for signs shall be Tenant's choice so that they may be consistent with any corporate standards . Final approval will be at the sole discretion of the Landlord . 2. 3. 4. 5. 6. VI. DESIGN REQUIREMENTS FOR PAD TENANTS A. Where a tenant has multiple frontages, the maximum aggregates sign area for each pad shall be calculated at one and one half{1 - 1/2) square fool of sign area for each lineal fool of the longest leased frontages. No one elevation may exceed one square foot of sign per lineal foot of elevation upon which the sign is attached. Pad Tenant signs shall be defined as pan channel internally illuminated letters and logos as per the previous specifications. For "franchise" tenants the exact color, letter and logo heights and placement will be subject to final City of Scottsdale and Landlord approval. B. C. VII. DESIGN REQUIREMENTS FOR FREESTANDING CENTER ID SIGNS A. B. There will be two (2) freestanding Center ID signs. One (1) located on each street front. The signs will read "Palo Verde Square". They will have a maximum copy area of twenty - four (24) square feet and be a maximum offive (5) feet in overall height. Tenant: - /. - - Guarantor Guaranto4f/, Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant) Exhibit "B" Landlorgf

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EXHIBIT"C" TENANT IMPROVEMENT WORK I. DESCRIPTION OF LANDLORD'S WORK: Landlord shall deliver the Premises in their "as is" condition, with existing electrical and plumbing systems and HVAC units in good working order, condition and repair as of the dale on which possession of the Premises is tendered to Tenant . Tenant shall have thirty (30) days following the tender of possession of the Premises within which to notify Landlord of any defects in the electrical and plumbing systems and HVAC units that require repair and Landlord shall undertake such repairs at Landlord's sole cost and expense . If notice is not timely given by Tenant or if Tenant caused the damage to the electrical, plumbing or HVAC units, then Landlord shall have no obligation to repair the electrical and plumbing systems or HVAC units . Following the notice period, Tenant shall be responsible for the maintenance, repair and replacement of the electrical and plumbing systems and HVAC units in accordance with the terms of the Lease . 11. A. DESCRIPTION OF TENANT'S WORK The work to be done by Landlord in satisfying Landlord's obligation to construct Tenant's Premises under the Lease shall be limited to that expressly stated in Section I of this Exhibit "C" . Subject to the provisions of Section I 1 . J below, all items of work not expressly provided to be done by Landlord shall be performed by Tenant, at Tenant's sole cost and expense, and are sometimes collectively referred to as "Tenant's Work" . Tenant's Work shall include, but not be limited to, the purchase and/or installation and/or performance of the following : 1. Electric Fixtures and Equipment: All electrical work for the Premises. Any and all electrical fixtures installed by Tenant shall be of an energy efficient type first approved by Landlord. 2. Utility Meters and Connections: All utility meters, connections, electric panels and hook - up fees, assessments and any other fees or charges for utilities serving the Premises shall be paid by Tenant. 3. Telephones: Wiring from main project telephone mounting board to the Premises and all conduits and telephone wires within the Premises. Tenant shall make all arrangements for telephone service. 4. Walls: All interior partitions and curtain walls within the Premises. 5. Coves and Ceilings: All special coves, ceilings, furring, etc. 6. Furniture and Fixtures: All store fixtures, cases, paneling, cornices, etc. 7. Show Window Background, Floors, Etc.: All show window floors, show window backgrounds, show window lighting fixtures and show window doors. 8. Floor Coverings: All coverings and floor materials. 9. Alarm Systems, Etc.: All alarm systems or other protective devices. 10. Plumbing: All plumbing, either rough - in, fixtures or equipment required for Tenant's needs. 11. Special Ventilation: All ventilation systems, hoods, ducts and chases, including show window's ventilation. 12. Special Equipment: All special equipment such as conveyors, elevators, escalators, dumb waiters, etc., including installation and connection. 13. Interior Painting. 14. Tenant's exterior sign, including time clock and electrical connection . All signs shall be designed, constructed and located in accordance with the procedures established by the project architect and shall be subject to the Sign Criteria and the approval of the Landlord . 15 Concrete Floors: Any special reinforcing raised areas or depressions. 16. Roof : All flashing, counter - flashing and roof repairs caused by the installation of Tenant's equipment shall conform to the Shopping Center's roofing specifications and such work shall be paid for by Tenant, but shall be performed by the Shopping Center's original roofing contractor . 17. Should modifications be required to any fire sprinkler systems, HVAC work, plumbing and electrical systems, Tenant shall first obtain Landlord's written approval before making such modifications . Any such modifications shall be done at Tenant's sole cost and expense and to Landlord's satisfaction . 18. Additional Systems: Tenant shall be responsible for installing any fire or alam1 systems, lights, etc., which may be required by code for the Premises. 19. Basements, Mezzanines, etc : In no event shall Tenant be permitted to construct any basements, second floors, mezzanines, lofts or other multilevel areas, nor construct any outside or attached equipment, patio, utility or loading areas, or the like, all such areas being strictly prohibited hereunder . 20. Certificate of Occupancy. Tenant shall be responsible for obtaining, and doing all work required to obtain, a certificate of occupancy from the City in which the Shopping Center is located. Tenant: Guarantor: Guarantor:& Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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B. Tenant shall commence Tenant's Work within ten (10) days after delivery of possession of the Premises and be open for business by the Rent Commencement Date specified in the Lease . Tenant shall not enter the Premises nor perform any work therein without prior receipt of Landlord's written approval . Delivery of building materials shall be conducted in such a manner as to be considerate of other workers and delivery persons as well as customers and patrons of the Shopping Center . C. Tenant shall, no later than fifteen (15) days after execution of the Lease, submit architectural and engineering plans and specifications, for all Tenant's Work, to Landlord for Landlord's written approval or modification prior to Tenant commencing construction of said Tenant's Work . All plans and specifications should be prepared in accordance with this Exhibit "C" . Landlord shall have the right to request reasonable modifications of Tenant's plans and specifications . In the event Landlord's architect(s) and/or contractor(s) perform any of Tenant's Work for and on behalf of Tenant, Tenant shall be responsible for all costs related to such Tenant's Work, and shall pay for such Tenant's Work in advance . If Tenant paints, carpets or performs similar work to the Premises, Tenant shall first submit a color board or samples of such work for Landlord's approval . No deviations from the approved plans and specifications or approvals related to color or quality shall be permitted . Tenant's plans and specifications submitted to Landlord for review and approval shall, at a minimum, include three (3) sets of the following drawings : 1. Key plan showing location of Tenant. 2. Floor plan(s) at 1/8" or 1/4" scale. 3. Overall section at 1/8" or 1/4" scale. 4. Reflected ceiling plans(s) at 1/8" or 1/4" scale. 5. Plan(s), elevation(s), section(s) of store front(s) at 1/8" or 1/4" scale. 6. Interior elevations at 1/8" or 1/4" scale. 7. Full section of types of partitions used at 1/8" or 1/4" scale. 8. Details of store front(s) at 1 - 1/2" scale. 9. Finish schedule. 10. Location of all access panels to service all existing structural, mechanical, plumbing, electrical, telephone and fire protection systems including all junction boxes, switches, valves, etc. and other equipment relating thereto. In the event said drawings or specifications are not approved, for any reason whatsoever, within ninety (90) days from date of this Lease, this Lease shall, at the option of Landlord, be null and void and of no further force or effect. Without Landlord's prior written approval, Tenant shall not revise any exterior design, finish or construction that has been previously approved by Landlord, nor shall Tenant be permitted to place or maintain any awnings on the exterior of the Premises without Landlord's prior written approval . Simultaneously with the submission of working drawings to Landlord in accordance with the foregoing provisions of this Section C , Tenant shall also submit : (i) to Landlord's engineer for review, one (1) blueline set of prints of the working drawings and specifications containing the items set forth in subsections 2 and 4 immediately above ; and (ii) to Landlord, a check made payable to Landlord as and for the cost of the review of such plans by the project engineer . Following Landlord's initial approval of Tenant's working drawings and specifications, any subsequent changes, modifications or alterations of or to said working drawings or specifications shall be requested by Tenant in writing and shall be further subject to Landlord's prior approval . Any additional charges, expenses or costs, including Landlord's architect's fees, shall be the sole responsibility of Tenant, and Landlord shall have the right to demand payment for such changes, modifications or alterations prior to the performance of any work in the Premises . No consent or approval by Landlord of such plans or specifications shall create any responsibility or liability on the part of Landlord for their completeness, design sufficiency, safety or compliance with any or all construction, environmental, remedial and other laws, ordinances, rules, directions, regulations, guidelines and orders of governmental and public bodies and agencies now or hereafter in effect from time to time that may govern or apply to Tenant's Work or with restrictions, if any, contained in documents recorded against title to the Shopping Center that may apply to Tenant's Work . Where Tenant's final approved construction drawings and specifications are in conflict with this Exhibit "C" , the provisions of this Exhibit "C" shall prevail . Tenant hereby releases Landlord from any claim whatsoever for damages against Landlord for any delay in the date on which the Premises shall be ready for occupancy by Tenant . D. Tenant shall, upon Landlord's approval of final plans and specifications, employ a licensed and bonded contractor (which contractor shall employ only subcontractors licensed in the State in which the Shopping Center is located) to perform and complete Tenant's Work in accordance with the approved plans and specifications and this Exhibit "C" . In the event that Tenant's contractors willfully violate the requirements of this Lease, Landlord may order Tenant's contractors to remove themselves, their equipment and their employees from Landlord's property . The term "contractors" as used in this Section shall be deemed to additionally include subcontractors . Wherever herein Tenant uses or is required to use a contractor approved or designated by Landlord, or uses a contractor from a Landlord - supplied list (if applicable), Tenant hereby expressly acknowledges and agrees that such use or requirement is not intended and shall not be deemed or construed in any way to (i) relieve Tenant or such contractor from any liability to Landlord, or anyone, for the work performed pursuant to such requirement or (ii) impose upon Landlord any liability for such work or for its completeness, design sufficiency, safety or compliance with any or all environmental, remedial and other laws, ordinances, rules, directions, guidelines and orders of governmental and public bodies and agencies now or hereafter)' 1 effect from time to lime . Any list of contractors supplied to Tenant:k Guarantor: - L - Guaranto Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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Tenant by Landlord is provided only as a convenience to Tenant. Tenant shall remain fully liable for the selection of its contractors whether or not the same are included on any Landlord - supplied list. E. Prior to commencement of any Tenant's Work, Tenant shall be required to furnish to Landlord's tenant coordinator for the Shopping Center all of the following: 1. Copy of all required construction permits. 2. Copy of permitted/approved plans. 3. Copy of contractor's license. 4. Subcontractor list including the names of each subcontractor and the contact person therefor, and the respective phone numbers and addresses of each of the foregoing. 5. Property completed certificates of insurance evidencing compliance by Tenant and all of Tenant's contractors with all of the insurance and indemnification requirements of the Lease and this Exhibit "C" . Tenant's contractors shall not be permitted to commence any Tenant's Work until all required insurance has been obtained and certificates of insurance have been received and approved by Landlord . Tenant's contractors (or Tenant if Tenant is acting as its own contractor) shall maintain all such certificates of insurance in current form on file with Landlord throughout the duration of Tenant's Work . 6. Schedule of the anticipated dates for the commencement and completion of Tenant's Work. F. If requested by Landlord, Tenant shall, at its sole cost and expense and in accordance with specifications therefor first approved by Landlord, erect and maintain a construction barricade throughout the entire period of construction to prevent public access into the construction area . No signs shall be allowed on the exterior of the barricade other than those first approved by Landlord . It shall be the responsibility of Tenant, at its sole cost and expense, to remove and dispose of such barricade upon completion of Tenant's Work at the Premises and prior to store opening . G. During Tenant's initial construction, fixturing and merchandise stocking of Tenant's Premises, Landlord, at its election, shall provide trash removal service at areas designated by Landlord . It shall be the responsibility of Tenant and Tenant's contractors to daily remove all trash and debris from the Premises, to break down all boxes and place all such trash and debris into the containers supplied for that purpose by Landlord . In the event that Tenant's trash is allowed to accumulate for a 24 - hour period or longer within Tenant's Premises, or any pedestrian area or service way or other area outside of the Premises, Landlord shall have the right but not the obligation to remove Tenant's or Tenant's contractor's trash at a charge of twice Landlord's cost . Alternatively, if Landlord does not elect to provide such trash removal service, it shall be Tenant's responsibility, at its sole cost and expense, to remove its trash and construction debris . In such event, all dumpster(s) so provided or caused to be provided by Tenant or its contractor(s) must be properly maintained and kept clean, be of an acceptable appearance and be painted a neutral color, and be located in an area designated by Landlord . The area around all such dumpster(s) must also be kept clean at all times otherwise Landlord, at its option, shall have the right to have the area cleaned at Tenant's expense . In such event also, all other dumpsters, compactors and/or trash receptacles within the Shopping Center are paid for by existing tenants and occupants (or by Landlord) and are for their use only . H. Tenant shall cause its contractor(s) to secure, pay for and maintain, during Tenant's Work insurance and waivers as set forth in subsections 1 through 7 (inclusive) immediately below . For purposes of subsections 1 through 7 (inclusive) immediately below, the term "Landlord" shall be deemed to include Landlord, the partners of Landlord, the fee owner of the Shopping Center if other than Landlord, Landlord's managing agent for the Shopping Center, their respective parents, subsidiaries and affiliates and the respective members, partners, directors, officers, agents, servants, employees and contractors of each of the foregoing : 1. Statutory workers' compensation insurance, as well as employe(s liability insurance with limits of not less than $500 , 000 . 00 / $500 , 000 . 00 / $500 , 000 . 00 , and any and all insurance required by any employee benefit acts or other statutes applicable where the work is to be performed as will protect Tenant's contractors and subcontractors from any and all liability under the aforementioned acts and statutes . 2. Commercial general liability insurance in an amount not less than $3 , 000 , 000 . 00 combined single limit per occurrence and not less than $3 , 000 , 000 . 00 general aggregate, including but not limited to coverage for explosion, collapse and underground work as well as contractual liability coverage and including Landlord as an additional insured (as well as also including those persons and entities listed below in subsection 7 of this Section H as additional insureds) on a primary, non - contributory basis with respect to any other insurance available to Landlord . To the fullest extent allowable by law, Tenant shall, and shall cause its contractor(s) to, hold harmless and indemnify Landlord against any and all claims, losses and expenses for bodily injury, including death resulting therefrom, personal injury or damage to the property of others, arising from or in any way connected to Tenant's Work, including but not limited to claims, losses or expenses arising out of acts or failures to act of Tenant, Tenant's contractor(s), or any of their subcontractors, or by anyone directly or indirectly employed by any of them . 3. Comprehensive automobile liability insurance, including coverage for the ownership, maintenance and operation of any automobile equipment owned, hired or non - owned in an amount not less than $1 , 000 , 000 . 00 combined single limit per accident . 4. Either of the following: (i) owner's and contractor's protective liability insurance with limits of not less than $3,000,000.00 combined single limit per occurrence and not less than $3,000,000.00 general aggregate as will insure Landlord as named insured (as well as those persons and entities listed below in subsection 7 of this Section !:! also as named insureds) named against any and all claims for bodily injury, including death resulting therefrom, personal injury or damage to the property of others, arising from or in any way connected to Tenant's Work; or (ii) in lieu of the foregoing owner's and contractor's protective liability insurance specified in this subsection 4, an endorsement to the commercial general liability insurance specified in subsection 2 above of this Section providing for a separate general aggregate limit of insurance of not less than $3,000,000.00 on a per project basis. Tenant : - 1v - Guarantor: _L - Guaranto{f.£ Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant)

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5. Completed Value Form builder's risk insurance covering all of the items specified as Tenant's Work herein and including but not limited to Tenant's leasehold improvements, trade fixtures, wall coverings, carpeting, drapes and equipment from time to time in, on or upon the Premises, on a replacement cost basis, and providing protection against any peril included within the classification "Special Form" coverage . This insurance shall include Landlord as an additional insured (as well as also include those persons and entities listed below in subsection 7 of this Section ! : ! as additional insureds) . All policy proceeds shall be used for the repair or replacement of the property damaged or destroyed unless the Lease shall cease and terminate under the provisions of Section 13 thereof, in which event of termination such proceeds attributable to said Tenant's Work and leasehold improvements (and to all other items of property becoming or to become the property of Landlord upon such termination) shall be paid and disbursed directly to Landlord . 6. Tenant (including also anyone holding under Tenant and any and all subtenants and other occupants of the Premises), as the case may be, hereby releases Landlord from any and all liability for any and all bodily and personal injury to Tenant and its contractors (including also all subcontractors) and their respective employees (whether direct or indirect employees) and for any and all loss of or damage to Tenant's property and that of any and all contractors and subcontractors (including also any and all loss of use resulting therefrom) and, on behalf of its insurers, hereby waives any and all rights of subrogation therefor, even though such injury, loss or damage may have resulted in whole or in part from the act or neglect of Landlord . Tenant shall cause its contractor(s) and all of their subcontractors to provide identical waivers of liability and subrogation in favor of Landlord . 7. All insurance to be provided by Tenant or its contractor(s) hereunder shall be written with insurance companies with a current Best's Key Rating Guide rating of not less than A - and a financial size category of not less than IX . As often as any such policy shall expire or otherwise terminate, renewal or additional policies shall be procured and maintained by Tenant and Tenant's contractor(s) to provide uninterrupted coverage . Tenant agrees and shall cause its contractor(s) to agree to provide Landlord, upon Landlord's request from lime to time, with certified copies of all policies of insurance providing coverage in this Exhibit "C" . Notwithstanding anything to the contrary contained in this Exhibit "C" , all public liability and property damage policies shall also name Landlord, the fee owner of the Shopping Center if other than Landlord, and Landlord's managing agent and mortgagees or beneficiaries as additional insureds (or as named insureds in the case of owner's and contractor's protective liability insurance, if applicable, pursuant to subsection 4 (i} of this Section H) . I. HAZARDOUS MATERIALS/GENERAL INDEMNITY/COMPLIANCE WITH ALL LAWS . Tenant hereby expressly acknowledges and agrees that in performing Tenant's Work and Tenant's obligations under this Exhibit "C" , Tenant (including Tenant for and on behalf of Tenant's contractor and any and all persons performing any Tenant's Work in the Premises) shall comply with and be bound by, among all other provisions of the Lease, Section 5 . 6 ("Hazardous Materials") and the provisions of Section 7 . 1 relative to Tenant's indemnification of Landlord, and further shall comply with and be bound by all laws, ordinances, regulations and requirements which are then in effect (including without limitation the Americans with Disabilities Act) of the United States of America, the State in which the Shopping Center is located and all local, municipal and county governing bodies and other lawful authorities . Tenant shall confine construction work to within Premises as much as possible and shall work in an orderly manner, and shall construct the Premises in such a manner to confine therein and prevent the transmission of any odors, noise or vibration into any adjacent space or into any other part of the Shopping Center . At no time will pipes, wires, boards or other construction materials project into public areas where harm could be caused to public . The requirements of Occupational Safety and Health Administration (OSHA) prepared by the Department of Labor shall govern . If Tenant fails to comply with these requirements, Landlord reserves the right to take remedial action (at Tenant's cost) as deemed necessary by Landlord to protect the public ; provided, however, no reservation of such right by Landlord shall be deemed to (a) impose any obligation upon Landlord to take such remedial action ; or (b) render Landlord liable to Tenant or any third (3 rd) party for the failure to do so ; or (c) relieve Tenant or Tenant's contractor from any obligations to indemnify Landlord as otherwise provided elsewhere in the Lease or this Exhibil''C" . J. TENANT IMPROVEMENT ALLOWANCE . Landlord shall pay to Tenant a tenant improvement allowance (the "Tenant Improvement Allowance") of Five Thousand and No/ 100 Dollars ($5 , 000 . 00) pursuant to the provisions of this Section . In order for expenses incurred by Tenant to qualify for reimbursement from the Tenant Improvement Allowance, the expenses must be incurred for hard cost improvements to the Premises, excluding furniture, fixtures, equipment and signage ("Tenant Improvements") . Landlord will disburse Tenant Improvement Allowance to Tenant within thirty (30) days following the later of (a) Tenant opening for business at the Premises, and (b) Landlord's receipt from Tenant of (i) a copy of the Tenant's executed construction contract with Tenant's general contractor, (ii) a draw request that complies with the requirements of Landlord's lender, which may include the submission of an estoppal certificate and other documents, (iii) a certificate of occupancy for the Premises or, if certificates of occupancy are not issued by the City, a final sign off on the building permit (or by other evidence provided by the building department where the Premises are located) by the building department approving the completion of all Tenant Improvements that require a building permit, (iv) copies of paid invoices for work and/or materials for all improvements made to the Premises by or on behalf of Tenant (which shall equal at least the amount of the Tenant Improvement Allowance), (v) unconditional statutory lien waivers (which are notarized, and in form reasonably acceptable to Landlord and its lenders) from all contractors and/or material suppliers performing work or providing supplies for Tenant's improvements to the Premises (which shall equal at least the amount of the Tenant Improvement Allowance) ; and (vi) certificates and endorsements evidencing Tenant has insurance as required by the Lease . If the Tenant Improvement Allowance is not used within six (6) months following the date of this Lease, the Tenant Improvement Allowance shall be forfeited, and Landlord shall have no obligation to disperse any portion of the remaining balance of the Tenant Improvement Allowance . Tenan Guarantor: - 1 - -- Guarantor:$ Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant) Exhibit "C" Landlord: ,

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EXHIBIT"D" RULES AND REGULATIONS Tenant shall, at all times during the term of this Lease: 1. Use, maintain and occupy the Premises in a careful, safe, proper and lawful manner; keep the Premises and its appurtenances in a clean and safe condition; 2. Keep all glass in the doors and windows of the Premises in clean and good repair; 3. Not place, maintain or sell any merchandise in any vestibule or entry to the Premises, on the sidewalks adjacent to the Premises, or elsewhere on the outside of the Premises without the prior written consent of Landlord; 4. Keep Premises in a clean, orderly and sanitary condition, free of insects, rodents, vermin and other pests; 5 . Not permit undue accumulations of garbage, trash, rubbish and other refuse in the Premises, and keep refuse in closed containers within the interior of the Premises until removed . The outside areas immediately adjoining Tenant's Premises shall be kept clean and free from dirt and rubbish by Tenant to the complete satisfaction of Landlord . All refuse, trash and garbage shall be removed by Tenant on a daily basis and shall not be permitted to accumulate . 6. Not use, permit or suffer the use of any apparatus or instruments for musical or other sound reproduction or transmission in such a manner that the sound emanating therefrom or caused thereby shall be audible beyond the interior of the Premises; 7. Not use or permit the use of any flashing lights or search lights beyond the interior of the Premises in a manner so as to constitute a nuisance; 8. Not deliver or suffer or permit delivery of merchandise to the front entrance of the Premises after 10:00 a.m. on any day; 9. Light the show windows and exterior signs of the Premises to the extent required in the Lease; 10. Keep all mechanical apparatus free of vibration and noise which may be transmitted beyond the confines of the Premises; 11. Not cause or permit objectionable odors to emanate from the Premises; 12. Not overload the floors or electric wiring and not install any additional electrical wiring or plumbing without Landlord's prior written consent; 13 . Not use show windows in the Premises for any purpose other than display of merchandise for sale in a neat and attractive manner . Window signs must : (1) be professionally done in accordance to the sign criteria set forth in Exhibit "B" , (2) be approved by Landlord, and (3) cannot be taped to the windows of the Premises . 14. Not conduct, permit or suffer any public or private auction sale to be conducted on or from the Premises. 15. Not solicit business in the parking areas or other common areas and facilities in the Shopping Center or distribute handbills or other advertising materials; 16 . Not use the plumbing facilities in the Premises for any purpose other than that for which they are constructed or dispose of any foreign substances therein, whether through the utilization of "garbage disposal" units or otherwise . If Tenant uses the Premises for the sale, preparation or service of food for on - premises or off - premises consumption, Tenant shall install such grease traps as shall be necessary or desirable to prevent the accumulation of grease or other wastes in the plumbing facilities servicing the Premises ; 17. Not operate in the Premises or in any of the Shopping Center any coin or token operated vending machine or similar devices for the sale of any merchandise or service; 18. Not use any of the Premises for lodging purposes; 19. Not use, permit, or suffer any skateboards, rollerskates or other moveable contrivance except for or by handicapped persons or as specifically permitted hereunder Landlord shall at all times have the right to change these Rules and Regulations or to promulgate other Rules and Regulations in such manner as may be deemed necessary for the safety, care, or cleanliness of the Shopping Center, for preservation of good order therein, or for other purposes, all of which Rules and Regulations, changes and amendments shall be carried out and observed by Tenant . Tenant shall further be responsible for the compliance with these Rules and Regulations by the employees, servants, agents, visitors and invitees of Tenant . Landlord may waive any one or more of these Rules and Regulations for the benefit of any particular tenant or lessee, but no such waiver by Landlord shall be construed a waiver of such Rules and Regulations in favor of any other tenant or lessee, nor prevent Landlord from thereafter enforcing any such Rules and Regulations against any or all of the tenants in the Shopping Center . In the event any provisions of these Rules and Regulations shall conflict with any specific provisions of the Lease to which these Rules and Regulations are attached, the provisions of the Lease shall govern and control . Tenan Guarantor: L Guaranto Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant) Landlord'xJ./?: :

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$2,090.46 $2,029.58 $1,970.46 Monthly Rate MINIMUM RENT Option Period Months 25 lhrough 36 Option Period Months 13 lhrough 24 Option Period Months 1 through 12 Months of Option Period OPTION PERIOD LEASE RIDER OPTION Tenant shall have and is hereby granted the right and option to extend the Term of the Lease (the "Extension Option") for one (1) additional three (3) year period (the "Option Period") to begin immediately upon the expiration of the original Term (without the necessity of executing a new lease therefor) and upon the same terms, provisions and conditions as contained in this Lease, except (i) Landlord shall not be obligated lo make any improvements to the Premises or provide any allowances therefore, (ii) the Minimum Rent provisions shall be as hereinafter set forth, and (iii) there shall be no additional options to extend . Tenant must exercise the Extension Option, if at all, by providing Landlord with written notice thereof given not more than twelve (12) months nor less than nine (9) months prior lo the expiration of the original Term (the "Extension Notice") . If Tenant does not timely provide Landlord with the Extension Notice, the Extension Option shall terminate and be of no further force or effect . The Minimum Rent during the Option Period shall be: Tenant: - - / - Guarantor: - -- £- - Guaranto Palo Verde Shopping Center - LBC Bioscience, Inc. (tenant) Landlord: 'f.._..J:):,L./

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GUARANTY RIDER GUARANTY OF LEASE THIS GUARANTY OF LEASE ("Guaranty") is entered into this 17 th day of March, 2021, by Tom Nelson and Lisa Nelson, a married couple (collectively, "Guarantor"). RECITALS 1) A certain Shopping Center Lease of even date herewith (the "Lease") has been, or will be, executed by and between, ECG New Palo Verde LLC, an Arizona limited liability company as the landlord thereunder ("Landlord"), and LBC Bioscience, Inc . , an Arizona corporation, as the tenant thereunder ("Tenant"), covering certain premises commonly described as as 10952 N . Frank Lloyd Wright Blvd, Unit 108 , located within the shopping center commonly known as Palo Verde Square Shopping Center, Scottsdale, Arizona, all as more particularly described therein . Except where otherwise provided in this Guaranty, all initially - capitalized terms used herein shall have the meanings ascribed to them in the Lease . 2) Landlord is requiring as a condition to its execution of the Lease that the undersigned guaranty the full performance of the obligations of Tenant thereunder. 3) Guarantor acknowledges that it will receive a direct or indirect financial benefit from the Lease and is therefore desirous that Landlord enter into the Lease with Tenant. NOW, THEREFORE, with reference to the foregoing recitals and in consideration of the execution of the Lease by Landlord and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledges, Guarantor hereby covenants and agrees as follows : a) Guaranty of Tenant's Payment and Performance. Guarantor unconditionally, jointly and severally and irrevocably guaranties to Landlord and the successors and assigns of Landlord the full, prompt and complete performance of each and all of the terms, covenants and conditions of the Lease (including any amendments thereto) required to be performed by Tenant thereunder, including, but not limited to, the due and punctual payment of all rent, Minimum Rent, percentage rent, Common Area Expenses, Other Charges, taxes, insurance premiums, utility costs and charges, and any and all other charges or sums, or any portions thereof, to accrue or become due from Tenant to Landlord during the term of the Lease, including any renewal or extensions thereof and any holding over ("Guarantied Sums") . b) Tenant's Failure to Perform. If Tenant fails to pay any Guarantied Sums when due under the Lease, then, within ten (10) days following written notice to Guarantor by Landlord, Guarantor shall pay to Landlord or Landlord's designated agent, by certified check or cashier's check, any such Guarantied Sums as may be due and owing from Tenant to Landlord by reason of Tenant's failure to so perform. c) Other Lease Provisions. If Tenant fails to perform any covenants, terms or conditions of the Lease as required to be performed (other than as provided for in Section b above), then upon written notice to Guarantor by Landlord, Guarantor shall commence and complete performance of such conditions, covenants and terms within five (5) business days after the date of Landlord's notice to Guarantor of such failure by Tenant to so perform ; provided, however, that in the event the performance by Guarantor cannot reasonably be completed within five (5) business days, Guarantor shall commence performance within that time and diligently pursue the same to completion within a reasonable period of time not to exceed thirty (30) days . d) Additional Damages and Interest . In addition to the payment of Guarantied Sums and the performance of any and all other provisions, conditions and terms of the Lease which may be required of Guarantor by reason of Tenant's failure to perform, Guarantor agrees to pay to Landlord any and all incidental damages and expenses incurred by Landlord as a direct and proximate result of Tenant's failure to perform, which expenses shall include, without limitation, reasonable attorneys' fees . Guarantor further agrees to pay to Landlord interest on any and all sums due and owing Landlord by reason of Tenant's failure to pay same at the maximum lawful rate at the lime of payment thereof, or if there is no prescribed maximum rate, then eighteen percent (18 %) per annum . e) Enforcement by Landlord. The liability of Guarantor under this Guaranty is an absolute and unconditional guaranty of payment and of performance and not of collectability. This Guaranty shall be enforceable against Guarantor, its successors and assigns, without the necessity for any suit or proceeding on Landlord's part of any kind or nature whatsoever against Tenant or otherwise with respect to the Lease, and without the necessity of any notice of nonpayment, nonperformance or nonobservance or of any notice of acceptance of this Guaranty or of any other notice or demand to which Guarantor might otherwise be entitled, all of which Guarantor hereby expressly waives . Guarantor further agrees that Landlord may enforce this Guaranty without the necessity of resorting to or exhausting any security or collateral and without the necessity of proceeding against any other guarantor . The validity of this Guaranty and the obligation of Guarantor hereunder shall in no manner be terminated, affected or impaired by reason of the assertion or failure to assert by Landlord against Tenant of any of the rights or remedies reserved to Landlord pursuant to the provisions of the Lease, at law or in equity, and the exercise or non - exercise by Landlord of any such rights or remedies shall not constitute a legal or equitable discharge of Guarantor . The liability of each Guarantor hereunder is coextensive with that of Tenant and is joint and several . f) Guarantor's Waivers. Guarantor hereby waives, to the extent permitted by law: (a) all notices and presentments to Guarantor, to Tenant orto any other person, including, but not limited to notices of the acceptance of this Guaranty, or of default in the payment of the Guarantied Sums (or any portion thereof), and enforcement of any right or remedy with respect thereto or notice of any other matters relating thereto ; (b) any statute of limitations affecting Guarantor's liability hereunder or the enforcement thereof ; (c) all defenses based upon any disability of Tenant and any and all other waivable defenses ; (d) any and all right to participate in any Security Deposit held by Landlord now or in the future ; (e) all principles or provisions of law which conflict with the terms of this Guaranty ; and (f) notices of default to Tenant or Guarantor . Guarantor further agrees that Landlord may enforce this Guaranty upon the occurrence of any default under the Lease, notwithstanding the existence of any dispute between Landlord and Tenant with respect to the existence of the default or payment of the Guarantied Sums (or any portion thereof) or any counterclaim, set - off or other claim which Tenant may allege against Landlord with respect thereto . Moreover, Guarantor agrees that its obligations shall not be affected by any circumstances which constitute a legal or equitable discharge of a guarantor or surety . Guarantor: Guarantor: Landlord: Palo Verde Shopping Center - LBC Bioscience, Inc. (tenaift)

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g) Continuing Guaranty. This Guaranty shall be a continuing guaranty, and the liabilities and obligations of Guarantor hereunder shall be absolute and unconditional and shall remain in full force and effect without regard to, and shall not be released, discharged or in any way affected by: (a) any amendment, modification of, or supplement to the Lease, any execution of a new Lease or any assignment or transfer thereof ; (b) any exercise or nonexercise of any right, power, remedy or privilege under or in respect of the Lease or this Guaranty or any waiver, consent, extension, renewal, modification or transfer thereof ; (c) any bankruptcy, insolvency, reorganization, arrangement, readjustment, composition, liquidation or similar proceeding related to Tenant or Tenant's assets ; (d) any limitation on the liability or obligation of Tenant under the Lease or its estate in bankruptcy or of any remedy for the enforcement thereof, resulting from the operation of any present or future provision of the Bankruptcy Code or other statute, whether State or Federal, or from the decision of any court ; or (e) any transfer by Tenant or any assignment of Tenant's interest under the Lease, whether or not Guarantor has notice or knowledge of any of the foregoing . h) No Subrogation. Guarantor agrees that until such time as all of Tenant's obligations to Landlord have been fully paid and discharged, no payment by Guarantor pursuant to any provision hereof shall entitle Guarantor, by subrogation or otherwise, to the rights of Landlord under the Lease to any payment by Tenant or to any of the property of Tenant . Guarantor further agrees that, to the extent the waiver of its right of subrogation as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation Guarantor may have against Tenant shall be junior and subordinate to any right Landlord may have against Tenant . i) Notices. All notices, requests and demands to be made hereunder to the parties hereto shall be in writing and may be either delivered personally or sent by prepaid, registered or certified mail, and if so mailed, shall be deemed to have been given five (5) days following the date upon which it was deposited in the mail . The addresses of the parties for the purposes hereof shall be for Landlord the addresses set forth in Section 1 . 14 of the Lease, and for Guarantor, the address set forth below by its signature, or such other addresses which the parties may provide to one another in accordance herewith . j) Partial Payments. Guaranto(s payment of a portion, but not all, of the Guarantied Sums shall in no way limit, affect, modify or abridge Guarantor's liability for that portion of the Guarantied Sums which is not paid. Without in any way limiting the generality of the foregoing, in the event that Landlord is awarded a judgment in any suit brought to enforce Guarantor's covenant to pay a portion of the Guarantied Sums, such judgment shall in no way be deemed to release Guarantor from its covenant to pay any portion of the Guarantied Sums which is not the subject of such suit . k) No Benefit to Third Parties . This Guaranty is solely for the benefit of Landlord and is not intended to nor shall it be deemed to be for the benefit of any third party, including Tenant. I) Successors and Assigns. This Guaranty shall be binding upon Guarantor, its successors and assigns and shall inure to the benefit of and shall be enforceable by Landlord, its successors and assigns. This Guaranty may be assigned in whole or in part by Landlord with or without notice to Guarantor. m) Attorney's Fees . In the event of any litigation arising out of or in connection with this Guaranty, including for the enforcement of any of the covenants, terms or conditions hereof, the non - prevailing party shall pay the costs thereof and attorneys' fees actually incurred by the prevailing party (including the fees and charges of legal assistants or other non - attorney personnel performing services under the supervision of an attorney), which shall be determined and fixed by the court as part of the judgment, whether or not such litigation is prosecuted to judgment . Guarantor covenants and agrees that Guarantor shall be liable under this Guaranty for attorney's fees and costs actually incurred by Landlord in any arbitration or litigation between Landlord and Tenant if the Landlord is the prevailing party . Under this Guaranty, there shall be a presumption that the fees charged by the attorney retained by the Landlord are reasonable . n) Governing Law . This Guaranty shall be governed by and construed in accordance with the laws of the State in which the Shopping Center is located. All actions or proceedings arising directiy or indirectly under this Guaranty may, at Landlord's option, be litigated in courts having situs within the State in which the Shopping Center is located, and Guarantor consents to the jurisdiction of any local, state or federal court located within the State in which the Shopping Center is located . Guarantor consents that service of process in such action or proceeding may, at Landlord's option, be made by personal service upon Guarantor wherever Guarantor may be then located, or by certified or registered mail directed to Guarantor at Guarantor's last known address, or upon Tenant, as Guarantor's agent for receiving service of process . o) Invalidity. Every provision of this Guaranty is intended to be severable. In the event any term or provision herein is declared to be illegal, invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction, such illegality, invalidity or unenforceability shall not affect the balance of the terms and provisions hereof, which terms and provisions shall remain in full force and effect. p) Modification of Guaranty. This Guaranty constitutes the full and completed agreement between the parties hereto and it is understood and agreed that the provisions hereof may only be modified by a writing executed by Guarantor and Landlord. q) Miscellaneous Rules of Construction. Whenever the singular or masculine or neuter is used in this Guaranty, the same shall be construed to mean the plural, feminine or body corporate where the context of this Guaranty or the parties hereto may so require . The locative adverbs "herein", "hereunder", "hereto", "hereby", "hereafter", etc . , whenever the same shall appear in this Guaranty, shall mean and refer to this Guaranty in its entirety and not to any specific Section or other part thereof . In addition, any captions or headings used in this Guaranty are for reference purposes only are in to way may be construed as part of this Guaranty . r) Guaranty by Corporation or Partnership. Each person executing this Guaranty on behalf of a Guarantor which is a corporation, a limited or general partnership or a limited liability company, hereby warrants to Landlord that such corporation, limited or general partnership or limited liability company, as the case may be, is duly organized and existing and in good standing under the laws of the State of its incorporation or organization, that all corporate or other actions or proceedings required to be taken by or on behalf of Guarantor to enable it to enter into, and to be bound by, and deliver this Guaranty have been duly and properly taken, that such Guarantor has the power to enter into and carry out its obligations under this Guaranty and that this Guaranty is enforceable against Guarantor in accordance with its terms . s) Joint and Several Obligation. If there is more than one (1) person or party as Guarantor hereunder, the obligations of the persons or parties comprising Guara')lor shall be joint and several and the unenforceability of this Guaranty or Guarantor: uarantor : Landlord \ /Y ,v Palo Verde Shopping Center - LBC Bioscience, Inc. (te, Rider • Page 2

![](image_035.jpg)

Landlord's election not to enforce this Guaranty against one (1) or more of the persons or parties comprising Guarantor shall not affect the obligations of the remaining persons or parties comprising Guarantor or the enforceability of this Guaranty against such remaining persons or parties . I) Duration of Guaranty. Al such time as the Lease has expired or otherwise been terminated and the entire unpaid balance of the Guarantied Sums for the term of the Lease (including any portion of the term remaining unexpired at the time the Lease is terminated), together with all interest accrued thereon, is paid in full and all other obligations of Tenant under the Lease are fully performed and satisfied, Guarantor shall be released from all duties and responsibilities as set forth in this Guaranty . u) Documents by Guarantor. Guarantor shall, as and when required of Tenant, provide to Landlord documents, permits, certificates and other information which Tenant may be obligated to provide to Landlord, including, but not limited to, subordination, non -

![](image_036.jpg)

IN WITNESS WHEREOF, Guarantor has executed this Guaranty as of the day and year first above written. GUARANTOR: Tom Nelson and Lisa Nelson, a married couple z To m - Ne l L son £_ Lisa Nelson Address of Guarantor for Notice Purposes: 11529 N. 120 th Street Scottsdale, AZ 85259 State ofAc, :ic,na County of 1 - 'v:J<.r, cc,pc, I, a Notary Public, hereby certify that I O

![](image_037.jpg)

• - •

## Ex1A-12

**Exhibit 12.1**

**Suares** **& Associates**

Attorneys at Law

833 Flatbush Avenue

Suite 100

Brooklyn, New York 11226

dsuares@suaresassociates.com

Tel: 718-622-8450 Fax: 718-282-3113

May 12, 2026

CBD Life Sciences Inc.

10953 N. Frank Lloyd Boulevard

Suite 108

Scottsdale, Arizona 85259

Re: <u>Offering Statement on Form 1-A</u>

Gentlemen:

We have been requested by CBD Life Sciences Inc., a Nevada corporation (the "Company"), to furnish you with our opinion as to the matters hereinafter set forth in connection with its offering statement on Form 1-A, (the "Offering Statement"), relating to the qualification of shares of the Company's common stock under Regulation A promulgated under the Securities Act of 1933, as amended. Specifically, this opinion relates to 4,000,000,000 shares of the Company's $.0001 par value common stock (the "Company Shares").

In connection with this opinion, we have examined the Offering Statement, the Company's Articles of Incorporation and Bylaws (each as amended to date), copies of the records of corporate proceedings of the Company and such other documents as we have deemed necessary to enable us to render the opinion hereinafter expressed.

For purposes of this opinion, we have assumed the authenticity of all documents submitted to us as originals, the conformity to the originals of all documents submitted to us as copies and the authenticity of the originals of all documents submitted to us as copies. We have also assumed the legal capacity of all natural persons, the genuineness of the signatures of persons signing all documents in connection with which this opinion is rendered, the authority of such persons signing on behalf of the parties thereto other than the Company and the due authorization, execution and delivery of all documents by the parties thereto other than the Company. We have not independently established or verified any facts relevant to the opinions expressed herein, but have relied upon statements and representations of officers and other representatives of the Company and others.

Based upon and subject to the foregoing qualifications, assumptions and limitations and the further limitations set forth below, we are of the opinion that the 4,000,000,000 Company Shares being offered by the Company will, when issued in accordance with the terms set forth in the Offering Statement, be legally issued, fully paid and non-assessable shares of common stock of the Company.

Our opinion expressed above is subject to the qualification that we express no opinion as to the applicability of, compliance with, or effect of any laws except the Nevada Revised Statutes (including the statutory provisions and reported judicial decisions interpreting the foregoing).

We hereby consent to the use of this opinion as an exhibit to the Offering Statement and to the reference to our name under the caption "Legal Matters" in the Offering Statement and in the offering circular included in the Offering Statement. We confirm that, as of the date hereof, we own no shares of the Company's common stock, nor any other securities of the Company.

Sincerely,

*/s/ Suares & Associates*

Suares & Associates

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

## FORM 1-A

### REGULATION A OFFERING STATEMENT
### UNDER THE SECURITIES ACT OF 1933

### Item 1. Issuer Information

**Exact name of issuer:** CBD Life Sciences Inc.

**Jurisdiction of Incorporation/Organization:** NV

**Year of Incorporation:** 1998

**CIK:** 0001776073

**I.R.S. Employer Identification Number:** 20-5118532

**Primary Standard Industrial Classification Code:** 2833

**Total number of full-time employees:** 3

**Total number of part-time employees:** 2

**Address of Principal Executive Offices:** 10953 N. Frank Lloyd Wright Boulevard, Suite 108, Scottsdale, AZ 85259

**Company Phone:** 480-209-1720

**Person to contact:** Donnell Suares

### Financial Statements

**Balance Sheet Information**

| Metric                                   | Amount     |
|:---|:---|
| Cash and Cash Equivalents                | $331598.00 |
| Investment Securities                    | $0.00      |
| Accounts and Notes Receivable            | $250760.00 |
| Property, Plant and Equipment (PP&E)     | $0.00      |
| Total Assets                             | $787233.00 |
| Accounts Payable and Accrued Liabilities | $0.00      |
| Long-Term Debt                           | $0.00      |
| Total Liabilities                        | $38505.00  |
| Total Stockholders' Equity               | $748728.00 |
| Total Liabilities and Equity             | $787233.00 |

**Statement of Comprehensive Income Information**

| Metric                                    | Amount     |
|:---|:---|
| Total Revenues                            | $98321.00  |
| Costs and Expenses Applicable to Revenues | $141760.00 |
| Depreciation and Amortization             | $0.00      |
| Net Income                                | $-43439.00 |
| Earnings Per Share - Basic                | -0.00      |
| Earnings Per Share - Diluted              | -0.00      |

**Auditor Information**

| Metric          | Amount   |
|:---|:---|
| Name of Auditor |  |

### Outstanding Securities

| Class              |   Outstanding | CUSIP     | Publicly Traded   |
|:---|---:|:---|:---|
| Common Stock       |    5696998727 | 12482V202 | OTC Pink          |
| Series A Preferred |      66081530 | 0000000na | na                |

### Item 2. Issuer Eligibility
- [x] The issuer certifies that all of the statements in this part are true.

### Item 3. Application of Rule 262
- [x] The issuer certifies that it is not disqualified and has not been involved in any disqualifying event.

### Item 4. Summary Information Regarding the Offering

**Tier:** Tier1

**Financial Statement Status:** Unaudited

**Type of Securities Offered:** Equity (common or preferred stock)

**Is this a delayed or continuous offering?** Yes

**Was or is the offering to take place within one year after qualification?** No

**Was or is the offering to commence within two days after qualification?** No

**Is this a best efforts offering?** Yes

**Was there any solicitation of interest?** No

**Are there any resale securities by affiliates of the issuer?** No

**Offering Amounts**

| Description                                                     | Amount     |
|:---|:---|
| Number of securities offered                                    | 4000000000 |
| Number of securities outstanding                                | 5696998727 |
| Price per security                                              | $0.00      |
| Issuer's aggregate offering price                               | $448000.00 |
| Aggregate offering price of securities held by security holders | $0.00      |
| Aggregate price of securities offered concurrently              | $222063.64 |
| Total aggregate offering price                                  | $670063.64 |

**Anticipated Fees**

| Service Provider   | Name                | Fees      |
|:---|:---|:---|
| Auditor            |  |  |
| Legal              | Suares & Associates | $20000.00 |
| Promoters          |  |  |

**Estimated Net Proceeds to the Issuer:** $426000.00

### Item 5. Jurisdictions in Which Securities are to be Offered

- All States and Territories

### Item 6. Unregistered Securities Issued or Sold Within One Year

**Name of Such Issuer:** CBD Life Sciences, Inc.

**Title of Securities Issued:** Common Stock

**Total Amount of Securities Issued:** 1982711071

**Amount of such securities sold by principal security holders:** 0

**Aggregate consideration:** $222,063.64; Terms of Regulation A offering

**Basis for aggregate consideration:** —

**Securities Act Exemption:** Regulation A under the Securities Act