# EDGAR Filing Document

**Accession Number:** 0001976695
**File Stem:** 0001641172-25-019850
**Filing Date:** 2025-7
**Character Count:** 551238
**Document Hash:** 897a6de3a96233e2d082727c8409fbfe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-019850.hdr.sgml**: 20250716

**ACCESSION NUMBER**: 0001641172-25-019850

**CONFORMED SUBMISSION TYPE**: F-3

**PUBLIC DOCUMENT COUNT**: 26

**FILED AS OF DATE**: 20250716

**DATE AS OF CHANGE**: 20250716

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mobile-health Network Solutions
- **CENTRAL INDEX KEY:** 0001976695
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** F-3
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-288693
- **FILM NUMBER:** 251126546

**BUSINESS ADDRESS:**
- **STREET 1:** CRICKET SQUARE, HUTCHINS DRIVE,
- **STREET 2:** P.O. BOX 2681, GRAND CAYMAN, KY1-1111,
- **CITY:** CAYMAN ISLANDS
- **STATE:** E9
- **ZIP:** 000000
- **BUSINESS PHONE:** 65 6222 5223

**MAIL ADDRESS:**
- **STREET 1:** 2 VENTURE DR,
- **STREET 2:** #07-06 VISION EXCHANGE,
- **CITY:** SINGAPORE
- **STATE:** U0
- **ZIP:** 608526

**As filed with the Securities and Exchange Commission on July 16, 2025**

**Registration No. 333-___________**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM F-3**

**REGISTRATION STATEMENT<br> UNDER THE SECURITIES ACT OF 1933**

**Mobile-health Network Solutions**

(Exact name of registrant as specified in its charter)

**Not Applicable**

(Translation of Registrant's Name into English)

---

| | | |
|:---|:---|:---|
| **Cayman Islands** | **7372** | **Not Applicable** |
| (State or other jurisdiction of<br> incorporation or organization) | (Primary Standard Industrial<br> Classification Code Number) | (I.R.S. Employer<br> Identification No.) |

---

**2 Venture Drive, #07-06/07 Vision Exchange**

**Singapore 608526**

**+65 6222 5223**

(Address and telephone number of registrant's principal executive offices)

**Cogency Global Inc.**

**122 East 42nd Street, 18th Floor**

**New York, NY 10168**

**+1 212 947 7200**

(Name, address, and telephone number of agent for service)

**Copies to:**

**Lawrence Venick, Esq.**

**Loeb & Loeb LLP**

**345 Park Avenue**

**New York, NY 10154**

**+1 212 407-4000**

Approximate date of commencement of proposed sale to the public: From time to time after the effective date of this Registration Statement.

If only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. ☐

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a registration statement pursuant to General Instruction I.C. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. ☐

If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.C. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. ☐

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933.

Emerging growth company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

† The term "new or
 revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board to its Accounting
 Standards Codification after April 5, 2012.

**The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until this Registration Statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.**

**EXPLANATORY NOTE**

This registration statement contains two prospectuses:

● a base prospectus covering the potential offering, issuance, and sale by us of up to $300 million of our class A ordinary shares, debt securities, warrants, and units; and

● a sales agreement prospectus covering the potential offering, issuance, and sale by us of our Class A Ordinary Shares having a maximum aggregate offering price of up to $300,000,000 that may be issued and sold under the sales agreement (the "Sales Agreement") dated July 15, 2025 with A.G.P./Alliance Global Partners.

The base prospectus immediately follows this explanatory note. The specific terms of any securities to be offered pursuant to the base prospectus will be specified in a prospectus supplement to the base prospectus. The sales agreement prospectus, which specifies the terms of our class A ordinary shares to be sold under the Sales Agreement, immediately follows the base prospectus. The class A ordinary shares that may be offered, issued, and sold under the sales agreement prospectus is included in the $300 million of securities that may be offered, issued, and sold under the base prospectus. Upon termination of the Sales Agreement, any portion of the $300,000,000 included in the sales agreement prospectus that is not sold pursuant to the Sales Agreement will be available for sale in other offerings pursuant to the base prospectus and a corresponding prospectus supplement.

The information in this prospectus is not complete and may be changed. We may not sell these securities or accept an offer to buy these securities until the registration statement filed with the U.S. Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities, and we are not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.

PRELIMINARY PROSPECTUS SUBJECT TO COMPLETION, DATED JULY 16, 2025

![](formf-3_001.jpg)

**Mobile-health Network Solutions**

**$300,000,000**

**Class A Ordinary Shares**

**Debt Securities**

**Warrants**

**Units**

This prospectus relates to the offer and sale of our Class A ordinary shares, par value US$0.000032 per share ("Class A Ordinary Shares"), debt securities, warrants to purchase Class A Ordinary Shares or debt securities, or units consisting of Class A Ordinary Shares, or debt securities, or warrants, or any other combination of these securities from time to time in one or more offerings, at prices and on terms described in one or more supplements to this prospectus. The aggregate initial offering price of the securities that we may offer and sell under this prospectus will not exceed $300,000,000. Unless otherwise indicated, reference to dollars shall mean United States dollars.

Each time we offer and sell the securities pursuant to this prospectus, we will provide a supplement to this prospectus that contains specific information about such offering and the terms of the securities. We may also authorize one or more free writing prospectuses to be provided to you in connection with these offerings. The prospectus supplement and any related free writing prospectus may add, update or change information contained in this prospectus. You should read carefully this prospectus, the applicable prospectus supplement and any related free writing prospectus, as well as the documents incorporated or deemed to be incorporated by reference, before you invest in any of our securities. **This prospectus may not be used to offer or sell any securities unless accompanied by the applicable prospectus supplement.**

Our Class A Ordinary Shares are listed on The Nasdaq Capital Market ("Nasdaq") under the symbol "MNDR." On July 9, 2025, the last reported sales price of our Class A Ordinary Shares was $1.131 per share.

Our issued and outstanding share capital consists of 4,072,128 Class A Ordinary Shares and 1,459,438 Class B Ordinary Shares. Siaw Tun Mine, Siaw Tung Yeng, and Teoh Pui Pui beneficially own all of our then issued and outstanding Class B Ordinary Shares. These Class B Ordinary Shares constitute approximately 26% of our total issued and outstanding share capital and approximately 78% of the aggregate voting power of our total issued and outstanding share capital. Holders of Class A Ordinary Shares and Class B Ordinary Shares have the same rights except for voting and conversion rights. Each holder of our Class A Ordinary Share is entitled to one vote per share. Each holder of our Class B Ordinary Share is entitled to 10 votes per share. Our Class A Ordinary Shares and Class B Ordinary Shares vote together as a single class on all matters submitted to a vote of our shareholders, except as may otherwise be required by law. Our Class B Ordinary Shares are convertible at any time into Class A Ordinary Shares on a one-for-one basis by the holder thereof. Class A Ordinary Shares are not convertible into Class B Ordinary Shares under any circumstances. Upon any transfer of Class B Ordinary Shares by a holder thereof or a change of ultimate beneficial ownership of any Class B Ordinary Shares to any person other than an affiliate of such person or a beneficial owner of Class B Ordinary Shares, such Class B Ordinary Shares are automatically and immediately converted into the same number of Class A Ordinary Shares.

As of July 9, 2025, the aggregate market value worldwide of our outstanding Class A Ordinary Shares held by non-affiliates was approximately $3,761,845, based on 4,072,128 Class A Ordinary Shares outstanding, of which 3,326,123 Class A Ordinary Shares were held by non-affiliates, and a per share price of $1.131 based on the closing sale price of the Class A Ordinary Shares on Nasdaq on July 9, 2025. Pursuant to General Instruction I.B.5 of Form F-3, in no event will we sell, pursuant to the registration statement of which this prospectus forms a part, securities with a value exceeding one-third of the aggregate market value of our outstanding Ordinary Shares held by non-affiliates in any 12-month period, so long as the aggregate market value of our Ordinary Shares held by non-affiliates is less than $75.0 million. We have not offered or sold any securities pursuant to General Instruction I.B.5 on Form F-3 during the prior 12 calendar month period that ends on and includes the date of this prospectus.

We are both an "emerging growth company" and a "foreign private issuer" as defined under the applicable U.S. federal securities laws and, as such, may elect to comply with certain reduced public company reporting requirements for this and future filings. See "Implications of Being an Emerging Growth Company" and "Implications of Being a Foreign Private Issuer."

When we refer to "MNDR," "we," "our," "us" and the "Company" in this prospectus, we mean Mobile-health Network Solutions, an exempted company incorporated with limited liability in the Cayman Islands, and its consolidated subsidiaries, unless otherwise specified.

Unless otherwise specified in an applicable prospectus supplement, our debt securities, warrants and units will not be listed on any securities or stock exchange or on any automated dealer quotation system.

INVESTING IN OUR SECURITIES INVOLVES RISKS. YOU SHOULD REVIEW CAREFULLY THE RISKS AND UNCERTAINTIES DESCRIBED UNDER THE HEADING "RISK FACTORS" CONTAINED IN THIS PROSPECTUS, THE APPLICABLE PROSPECTUS SUPPLEMENT AND ANY RELATED FREE WRITING PROSPECTUS, AND UNDER SIMILAR HEADINGS IN THE OTHER DOCUMENTS THAT ARE INCORPORATED BY REFERENCE INTO THIS PROSPECTUS.

NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

The date of this prospectus is , 2025

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **Page** |
| [CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS](#a_001) | 1 |
| [ABOUT THIS PROSPECTUS](#a_002) | 2 |
| [IMPLICATIONS OF BEING AN EMERGING GROWTH COMPANY](#a_003) | 2 |
| [IMPLICATIONS OF BEING A FOREIGN PRIVATE ISSUER](#a_004) | 3 |
| [INCORPORATION OF INFORMATION BY REFERENCE](#a_005) | 3 |
| [OUR COMPANY](#a_006) | 5 |
| [PRINCIPAL SHAREHOLDERS](#a_007) | 10 |
| [RISK FACTORS](#a_008) | 11 |
| [OFFER STATISTICS](#a_009) | 12 |
| [CAPITALIZATION AND INDEBTEDNESS](#a_010) | 12 |
| [DILUTION](#a_011) | 12 |
| [USE OF PROCEEDS](#a_012) | 13 |
| [TRANSFER AGENT](#a_013) | 13 |
| [PLAN OF DISTRIBUTION](#a_015) | 13 |
| [DESCRIPTION OF SECURITIES WE MAY OFFER](#a_014) | 15 |
| [ENFORCEABILITY OF CIVIL LIABILITIES](#a_016) | 32 |
| [LEGAL MATTERS](#a_017) | 33 |
| [EXPERTS](#a_018) | 34 |
| [WHERE YOU CAN FIND ADDITIONAL INFORMATION](#a_019) | 34 |

---

**No dealer, salesperson or other person is authorized to give any information or to represent anything not contained in this prospectus. You must not rely on any unauthorized information or representations. This prospectus is an offer to sell only the securities offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus is current only as of its date.**

i

**CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS**

This prospectus contains forward-looking statements. Forward-looking statements provide our current expectations or forecasts of future events. Forward-looking statements include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "objective," "ongoing," "plan," "possible," "potential," "predict," "project," "target," "should," "will" and "would," or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Examples of forward-looking statements in this prospectus include, but are not limited to, statements concerning our operations, cash flows, financial position and dividend policy.

Forward-looking statements appear in a number of places in this prospectus including, without limitation, in the sections titled "Operating and Financial Review And Prospects," and "Information on the Company" included in our annual report on Form 20-F/A for the year ended June 30, 2024 filed with the Securities and Exchange Commission (the "SEC") on October 29, 2024 (the "2024 Annual Report"), and our Current Report on Form 6-K furnished to the SEC on June 13, 2025 (the "2024 Interim Results"), which documents are incorporated by reference into this prospectus.

These forward-looking statements reflect our management's beliefs and views with respect to future events, are based on estimates and assumptions as of the date of this prospectus and are subject to risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from those in these forward-looking statements. We discuss many of these risks in greater detail in this prospectus under "Risk Factors" and in our 2024 Annual Report, as well as those described in the other documents we file with the SEC. These factors may cause our actual results to differ materially from any forward-looking statements. We disclaim any obligation to publicly update these statements, or disclose any difference between actual results and those reflected in these statements, except as may be required under applicable law.

Moreover, new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Given these uncertainties, you should not place undue reliance on these forward-looking statements.

We do not undertake and specifically decline any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable laws or regulations.

**ABOUT THIS PROSPECTUS**

This prospectus is part of a registration statement that we have filed with the U.S. Securities and Exchange Commission, or the SEC. By using a shelf registration statement, we may sell securities from time to time and in one or more offerings up to a total dollar amount of $300,000,000 as described in this prospectus. Each time that we offer and sell securities, we will provide a prospectus supplement to this prospectus that contains specific information about the securities being offered and sold and the specific terms of that offering. We may also authorize one or more free writing prospectuses to be provided to you that may contain material information relating to these offerings. The prospectus supplement or free writing prospectus may also add, update or change information contained in this prospectus with respect to that offering. If there is any inconsistency between the information in this prospectus and the applicable prospectus supplement or free writing prospectus, you should rely on the prospectus supplement or free writing prospectus, as applicable. Before purchasing any securities, you should carefully read both this prospectus and the applicable prospectus supplement (and any applicable free writing prospectuses), together with the additional information described under the heading "Where You Can Find Additional Information" and/or "Incorporation of Information by Reference."

We have not authorized anyone to provide you with any information or to make any representations other than those contained in or incorporated by reference into this prospectus, any applicable prospectus supplement or any free writing prospectuses prepared by or on behalf of us or to which we have referred you. We take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. We will not make an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should assume that the information appearing in this prospectus and the applicable prospectus supplement to this prospectus is accurate only as of the date on its respective cover, that the information appearing in any applicable free writing prospectus is accurate only as of the date of that free writing prospectus, and that any information incorporated by reference is accurate only as of the date of the document incorporated by reference, unless we indicate otherwise. Our business, financial condition, results of operations and prospects may have changed since those dates. This prospectus incorporates by reference, and any prospectus supplement or free writing prospectus may contain and/or incorporate by reference, market data and industry statistics and forecasts that are based on independent industry publications and other publicly available information. Although we believe these sources are reliable, we do not guarantee the accuracy or completeness of this information and we have not independently verified this information. In addition, the market and industry data and forecasts that may be included or incorporated by reference in this prospectus, any prospectus supplement or any applicable free writing prospectus may involve estimates, assumptions and other risks and uncertainties and are subject to change based on various factors, including those discussed under the heading "Risk Factors" contained in this prospectus, the applicable prospectus supplement and any applicable free writing prospectus, and under similar headings in other documents that are incorporated by reference into this prospectus. Accordingly, investors should not place undue reliance on this information.

**IMPLICATIONS OF BEING AN EMERGING GROWTH COMPANY**

As a company with less than US$1.235 billion in revenue for our last fiscal year, we qualify as an "emerging growth company" pursuant to the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. An emerging growth company may take advantage of specified reduced reporting and other requirements compared to those that are otherwise applicable generally to public companies. These provisions include exemption from the auditor attestation requirement under Section 404 of the Sarbanes-Oxley Act of 2002 in the assessment of the emerging growth company's internal control over financial reporting. The JOBS Act also provides that an emerging growth company does not need to comply with any new or revised financial accounting standards until such date that a private company is otherwise required to comply with such new or revised accounting standards.

We will remain an emerging growth company until the earliest of (a) the last day of the fiscal year during which we have total annual gross revenue of at least US$1.235 billion; (b) the last day of our fiscal year following the fifth anniversary of the completion of our initial public offering; (c) the date on which we have, during the preceding three-year period, issued more than US$1.0 billion in non-convertible debt; or (d) the date on which we are deemed to be a "large accelerated filer" under the Exchange Act, which would occur if the market value of the Class A Ordinary Shares that are held by non-affiliates exceeds US$700 million as of the last business day of our most recently completed second fiscal quarter. Once we cease to be an emerging growth company, we will not be entitled to the exemptions provided in the JOBS Act discussed above.

**IMPLICATIONS OF BEING A FOREIGN PRIVATE ISSUER**

We are considered a "foreign private issuer" within the meaning of the rules under the Securities Exchange Act of 1934 (as amended, the "Exchange Act"). As such, we are exempt from certain provisions applicable to United States domestic public companies. For example:

● we are not required to provide as many Exchange Act reports, or as frequently, as a domestic public company;

● for interim reporting, we are permitted to comply solely with our home country requirements, which are less rigorous than the rules that apply to domestic public companies;

● we are not required to provide the same level of disclosure on certain issues, such as executive compensation;

● we are exempt from provisions of Regulation FD aimed at preventing issuers from making selective disclosures of material information;

● we are not required to comply with the sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations in respect of a security registered under the Exchange Act; and

● we are not required to comply with Section 16 of the Exchange Act requiring insiders to file public reports of their share ownership and trading activities and establishing insider liability for profits realized from any "short-swing" trading transaction.

**INCORPORATION OF INFORMATION BY REFERENCE**

The SEC allows us to "incorporate by reference" information that we file with them. Incorporation by reference allows us to disclose important information to you by referring you to those other documents. The information incorporated by reference is an important part of this prospectus, and information that we file later with the SEC will automatically update and supersede this information. We filed a registration statement on Form F-3 under the Securities Act with the SEC with respect to the securities being offered pursuant to this prospectus. This prospectus omits certain information contained in the registration statement, as permitted by the SEC. You should refer to the registration statement, including the exhibits, for further information about us and the securities being offered pursuant to this prospectus. Statements in this prospectus regarding the provisions of certain documents filed with, or incorporated by reference in, the registration statement are not necessarily complete and each statement is qualified in all respects by that reference. Copies of all or any part of the registration statement, including the documents incorporated by reference or the exhibits, may be obtained upon payment of the prescribed rates at the offices of the SEC listed in "Where You Can Find Additional Information." We are incorporating by reference the documents listed below, which we have already filed with the SEC, and all documents subsequently filed by us pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, except as to any portion of any future report or document that is not deemed filed under such provisions:

● Our Annual
 Report (Amendment) on [Form 20-F/A](https://www.sec.gov/Archives/edgar/data/1976695/000149315224042792/form20-fa.htm) for the year ended June 30, 2024 (the "2024 Annual Report"), filed with the SEC on
 October 29, 2024;

● Our Current Reports on
 Form 6-K furnished to the SEC on [December 26, 2024](https://www.sec.gov/Archives/edgar/data/1976695/000149315224052023/form6-k.htm) , [January 17, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000149315225002658/form6-k.htm) , [February 4, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000149315225004784/form6-k.htm) , [February 19, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000149315225007566/form6-k.htm) , [March 6, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000149315225009334/form6-k.htm) , [March 26, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000164117225000687/form6-k.htm) , [May 5, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000164117225008626/form6-k.htm) , [June 6, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000164117225008626/form6-k.htm) , and [June 6, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000164117225013932/form6-k.htm) , [June 16, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000164117225015142/form6-k.htm) (the June 13, 2025 Form 6-K is referred to as the "2024 Interim
 Results"); and

● The description
 of our Class A Ordinary Shares contained in our registration statement on [Form 8-A12B](https://www.sec.gov/Archives/edgar/data/1976695/000149315224011100/form8-a12b.htm) filed with the SEC on March 25, 2024 and any
 amendment or report filed with the SEC for the purpose of updating the description.

All subsequent annual reports filed on Form 20-F after the date of this prospectus (and before the time that all of the securities offered by this prospectus have been sold or de-registered) shall be deemed to be incorporated by reference into the prospectus. In addition, we may incorporate by reference into this prospectus our reports on Form 6-K filed after the date of this prospectus (and before the time that all of the securities offered by this prospectus have been sold or de-registered) if we identify in the report that it is being incorporated by reference in this prospectus.

Certain statements in and portions of this prospectus update and replace information in the above listed documents incorporated by reference. Likewise, statements in or portions of a future document incorporated by reference in this prospectus may update and replace statements in and portions of this prospectus or the above listed documents.

We also incorporate by reference all additional documents that we file with the SEC pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act that are filed (i) after the filing date of the registration statement of which this prospectus is a part and prior to effectiveness of that registration statement or (ii) after the effective date of the registration statement of which this prospectus is a part and prior to the termination of the offering of securities offered pursuant to this prospectus. We are not, however, incorporating, in each case, any documents or information that we are deemed to "furnish" and not file in accordance with SEC rules.

You can obtain any of the filings, documents or information incorporated by reference in this prospectus through us or from the SEC through the SEC's website at www.sec.gov. Our filings with the SEC, including our Annual Reports on Form 20-F and Reports on Form 6-K and exhibits incorporated therein and amendments to those reports, are also available free of charge on our website https://manadr.com/ as soon as reasonably practicable after they are filed with, or furnished to, the SEC. The reference to our website is an inactive textual reference only, and information contained therein or connected thereto is not incorporated into this prospectus or the registration statement of which it forms a part. We will provide to each person, including any beneficial owner, to whom this prospectus is delivered, a copy of any or all the reports or documents incorporated by reference in this prospectus (including any exhibits that are specifically incorporated by reference in that information) at no cost, upon written or oral request to:

Mobile-health Network Solutions

2 Venture Drive, #07-06/07 Vision Exchange

Singapore 608526

Siaw Tung Yeng, Co-Chief Executive Officer and Director

Telephone: +65 6222 5223

Email: drsiaw@manadr.com

You should rely only on the information that we incorporate by reference or provide in this prospectus or any applicable prospectus supplement(s). We have not authorized anyone to provide you with different information. You should not assume that the information in this prospectus or any prospectus supplement is accurate as of any date other than the date on the front of those documents.

**OUR COMPANY**

**Overview**

We are a leading telehealth solutions provider in Singapore in terms of various matrices, such as the number of patient consultations per day and the ranking of our mobile application. We provide our services on our MaNaDr platform, which is accessible via our mobile application and website. We seek to build a 360-degree holistic healthcare ecosystem supported by a global community of healthcare providers, with the mission to make healthcare simple and seamless, instantaneous, affordable and available to the masses. We serve both the community of users, by offering personalized and reliable medical attention to users worldwide, as well as the community of healthcare providers, by allowing them to have a broader reach to users through virtual clinics without any start-up costs and the ability to connect to a global network of peer-to-peer support groups and partners.

**Our Mission**

To be our users' trusted companion on their lifelong healthcare journey by providing a seamless healthcare experience from start to finish, which is affordable, accessible and easy to understand to both users and healthcare providers.

**Our Business**

We have set up one of the smartest integrated all-in-one patient care-centric platforms in the region to deliver affordable care to users. We provide our services on our MaNaDr platform, which is accessible via our mobile application and website. We seek to build a 360-degree holistic healthcare ecosystem supported by a global community of healthcare providers, with the mission to make healthcare simple and seamless, instantaneous, affordable and available to the masses. We serve both the community of users, by offering personalized and reliable medical attention to users worldwide, as well as the community of healthcare providers, by allowing them to have a broader reach to users through virtual clinics without any start-up costs and the ability to connect to a global network of peer-to-peer support groups and partners.

The diagram below illustrates how we have developed our business with the aim of addressing each of these global healthcare concerns and issues, and this problem-solving approach is one of our Group's key unique features and competitive strengths:

![](formf-3_002.jpg)

● *Inequalities in healthcare*:
 We have set up integrated all-in-one patient care-centric platforms in the region to deliver affordable care to users. We have managed
 to offer affordable healthcare through the use of technological tools, as we have incorporated AI, smart logic and algorithms to
 simplify the entire consultation process, at a price point that does not compromise the quality of care afforded. The simplification
 of the teleconsultation process has allowed us to offer instantaneous care to our users round-the-clock. The quality of care is further
 bolstered by the fact that our MaNaDr platform is supported by a trusted network of healthcare professionals both in Singapore and
 the region, many of whom are part of the personal network and contacts of our doctor-founders, Dr. Siaw Tung Yeng and Dr. Teoh Pui
 Pui.

● *Inaccessibility in healthcare*:
 To alleviate inaccessibility in healthcare encountered, we have capitalized on the ubiquity of mobile technology and the rise in
 social platforms to set up MaNaForum, which is a social forum with multimedia capabilities within our MaNaDr mobile application,
 to empower our users and providers from all around the world to share and transmit information on medical conditions, interact with
 one another freely and to ask questions at no charge. The MaNaForum is supported by doctors, healthcare professionals and other key
 players in the healthcare sector such as dieticians and gym instructors. Furthermore, the reach on our MaNaDr platform extends to
 countries in the APAC region. It has also broadened access to healthcare to many in Singapore and the region, with many users in
 our ecosystem being able to post questions freely on various topics ranging from the pandemic, health and medical conditions and
 symptoms, fitness and to preventive care such as weight management.

● *Complexities in obtaining correct healthcare in a timely manner*: To break down and simplify the complexities in healthcare faced by users, we seek to provide
 simplified care. This is achieved by breaking down barriers in time, place, and space with the setting up of one of the smartest
 24/7 virtual care ecosystems and support groups to help users navigate the complexities faced in receiving correct and timely care.
 The platform is centered on providing trusted care to users, with users being automatically routed to the same doctor to ensure continuity
 of care and comprehensive healthcare, thereby bridging the gap between a teleconsultation and physical consultation process. Users
 also have ready access to a panel of healthcare professionals across various healthcare disciplines on the platform, which greatly
 simplifies the delivery of healthcare as users are able to find the right care timely and with ease. As opposed to waiting weeks
 or months for a physical appointment or a referral to a specialist doctor, we can provide our users with the right care within hours,
 without them having to leave their homes. The platform enables users to be provided with comprehensive and continuous care from their
 primary care doctors who act as their gatekeepers and can help them navigate the increasingly complex healthcare system, and yet
 have access to a pool of specialist doctors in the event they require specialist medical attention.

&nbsp;&nbsp;&nbsp;&nbsp;● *Confusion due to the wide range of healthcare products and services available*: With the volume of healthcare products and services available on the
 market, users often face difficulties in finding the products and services they need, which could result in confusion and adverse
 outcomes. To address this, we have set up a web store, MaNaShop/MaNaStore, containing curated products and services from reliable
 suppliers and service providers worldwide, so as to deliver quality trusted products to users at affordable prices. We offer targeted
 products which meet our quality standards for our users across different genders and age brackets to address their specific healthcare
 and wellness needs. MaNaShop/MaNaStore utilizes smart logic and algorithms to allow users to navigate through the online store and
 locate what they require with ease. We have also incorporated a QR code into some of our key products, to allow users to access further
 information on any associated health or medical conditions that the product seeks to address, as well as access to doctors via consultation
 with just a scan. There is also a 24/7 customer support service to ensure timely delivery of orders placed and to address any questions
 that users may pose.

● *Global healthcare burden of obesity and chronic diseases*: To alleviate chronic healthcare conditions, we have identified the needs of users and developed
 a 360-degree healthcare ecosystem offering holistic, continuing and long-term preventive and pre-emptive care centered around such
 needs. The ecosystem is supported by a community of healthcare providers, patient support groups, healthcare coordinators, pharmaceutical
 companies and paramedical service providers whom we partner with. We have also incorporated technological tools like AI, smart diaries
 for patients to monitor their healthcare journey, smart devices, AI Facescan function in our MaNaDr mobile application and care pathway,
 or clinical care pathway, a set of guidelines that outline recommended steps and timeframes for managing and treating a specific
 medical condition or procedure to establish a standardized and efficient approach to the delivery of care, as part of the treatment
 and care regime.

**Our Main Business Activities**

Our MaNaDr platform is a 360-degree healthcare ecosystem which connects users and service providers through the range of healthcare services and product offerings that can be accessed through our mobile application and website:

![](formf-3_003.jpg)

Our MaNaDr platform is a one-stop healthcare ecosystem that delivers an integrated and comprehensive suite of products and services as we recognize the needs of our users, both when they are in need of medical care and when they want to stay healthy. Building upon an integrated technology platform, professional in-house medical team, network of quality clinic service providers, diversified and evolving range of product and service offerings, sophisticated consumer engagement strategies and well-established distribution channels, the healthcare solutions offered on our MaNaDr platform primarily encompasses the following components:

●  ***MaNaDr Mobile Application*** :
 Our MaNaDr mobile application is an avenue for us to provide timely, curated and personalized care to our users. It primarily involves
 the provision of teleconsultation services via online video consultation, which allows users to chat in real-time with, and send
 photos or videos to, doctors online, as well as hospital and/or clinic referral and appointment and inpatient arrangement by our
 in-house medical team and doctors from our network of clinic service providers.

●  ***MaNaPharma – B2B sales to clinics and other healthcare service providers*** : We procure pharmaceutical products and medical devices, as well
 as engage in the wholesale distribution of pharmaceutical products to clinics in Singapore.

●  ***MaNaShop/MaNaStore – B2C sales of products and services to users*** : We offer a diversified and evolving range of products to users on the
 MaNaShop/MaNaStore online e-commerce platform (via both the website and mobile application), including healthcare products (such
 as medicines, health supplements, skincare, nutrition products and medical devices) and wellness products (such as personal care
 products and health screening packages).

●  ***MaNaCare*** – **Corporate healthcare and wellness services, which is focused on corporate customers**: We provide comprehensive corporate healthcare
 and wellness services, ranging from GP, specialist and allied healthcare panel services to tele-consultation, in-person clinics,
 on-site health screening, online marketplace and wellness programs.

Collectively, we believe that our holistic ecosystem enhances the utilization efficiency of medical and healthcare resources, while providing a positive user experience.

**Corporate History**

Our Group's history began in 2016 when we were founded by Dr. Siaw Tung Yeng and Dr. Teoh Pui Pui along with a group of doctors in Singapore with considerable experience in healthcare, government policy and IT. We launched our MaNaDr mobile application in October 2016 and our website in January 2019. Since September 2023, our MaNaDr mobile application and website have had a global reach with active users from more than 18 various jurisdictions across the world, including Singapore, Vietnam, Malaysia, Australia, India and the Philippines.

Our Company was incorporated in the Cayman Islands on July 28, 2016, under the Companies Act as an exempted company with limited liability. Our authorized share capital is US$50,000 divided into 1,562,500,000 ordinary shares of nominal or par value of US$0.000032 each, comprising of (i) 781,250,000 Class A Ordinary Shares of nominal or par value of US$0.000032 each, and (ii) 781,250,000 Class B Ordinary Shares of nominal or par value of US$0.000032 each.

**Corporate Structure**

The structure of our Group as at the date of this prospectus:

![](formf-3_004.jpg)

**Key Milestones**

The table below sets forth the key development milestones in our Group's history.

---

| | |
|:---|:---|
| **Year** | **Milestones** |
| 2009 | Our Group was founded |
| 2016 | Launched our MaNaDr mobile application |

---

For details of our principal shareholders' ownership, please refer to the beneficial ownership table in "Item 6. Directors, Senior Management and Employees—E. Share Ownership."

**Corporate Information**

Our principal executive offices are located at 2 Venture Drive, #07-06/07 Vision Exchange, Singapore 608526. Our telephone number at this address is +65 6222 5223. Our registered office in the Cayman Islands is located at Harneys Fiduciary (Cayman) Limited, 4th Floor, Harbour Place, 103 South Church Street, PO Box 10240, Grand Cayman, KY1-1002, Cayman Islands. Our agent for service of process in the United States is Cogency Global Inc., located at 122 East 42nd Street, 18th Floor, New York, NY 10168.

Investors should submit any inquiries to the address and telephone number of our principal executive offices. We maintain a corporate website at https://manadr.com/. The information contained in, or accessible from, our website or any other website does not constitute a part of this prospectus.

The SEC maintains a website at www.sec.gov that contains reports, proxy, and information statements, and other information regarding issuers that file electronically with the SEC using its EDGAR system.

**PRINCIPAL SHAREHOLDERS**

Based solely upon information made available to us, the following table sets forth information as of July 9, 2025 regarding the beneficial ownership of our voting securities by:

● each person known by us to be the beneficial owner of more than 5% of any class of our outstanding voting securities;

● each of our named executive officers and directors; and

● all our executive officers and directors as a group.

Except as otherwise indicated, all shares are owned directly, and the percentage shown is based on 4,072,128 Class A Ordinary Shares and 1,459,438 Class B Ordinary Shares issued and outstanding.

Beneficial ownership is determined in accordance with the rules of the SEC and includes voting or investment power with respect to the securities. Except as otherwise indicated, each person or entity named in the table has sole voting and investment power with respect to all shares of our capital shown as beneficially owned, subject to applicable community property laws. In computing the number and percentage of shares beneficially owned by a person as of a particular date, shares that may be acquired by such person (for example, upon the exercise of options or warrants) within 60 days of such date are counted as outstanding, while these shares are not counted as outstanding for computing the percentage ownership of any other person.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Ordinary Shares Beneficially Owned** | **Ordinary Shares Beneficially Owned** | **Ordinary Shares Beneficially Owned** | **Ordinary Shares Beneficially Owned** | **% of**<br> **Aggregate**<br> **Voting Power** |
|  | **Class A Ordinary Shares** | **Class A Ordinary Shares** | **Class B Ordinary Shares** | **Class B Ordinary Shares** | |
| **Directors and Executive Officers<sup>(1)</sup>** | Shares | % | Shares | % |  |
| Siaw Tung Yeng<sup>(2)</sup> | 98454 | 2.6% | 880750 | 60.3% | 48.6% |
| Teoh Pui Pui<sup>(3)</sup> | 397032 | 10.6% | 201250 | 13.8% | 13.1% |
| Ho Hin Yip |  |  |  |  |  |
| Tan Kim Han Raymond |  |  |  |  |  |
| Gabe Rijpma |  |  |  |  |  |
| Leong Aik Huat |  |  |  |  |  |
| **All Directors and Executive Officers as a Group** | 495486 | 18.3% | 1082000 | 74.1% | 61.7% |
| **5% and Greater Principal Shareholders** |  |  |  |  |  |
| Siaw Tun Mine |  |  | 377438 | 25.9% | 20.6% |

---

(1) Unless
 otherwise noted, the business address of each of the following entities or individuals is 2 Venture Drive, #07-06/07 Vision Exchange,
 Singapore 608526.

&nbsp;&nbsp;&nbsp;&nbsp;(2) The
 business address of Siaw Tung Yeng is 210 TAGORE AVENUE SINGAPORE 7862225.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The
 business address of Teoh Pui Pui is 16B SHELFORD ROAD, #01-13 SINGAPORE 286653.

**RISK FACTORS**

Investing in our securities involves a high degree of risk. You should carefully consider the risks described in the documents incorporated by reference in this prospectus and any prospectus supplement, as well as other information we include or incorporate by reference into this prospectus and any applicable prospectus supplement, before making an investment decision. Our business, prospects, financial condition, or operating results could be materially adversely affected by these risks. The risks and uncertainties described in this prospectus, any applicable prospectus supplement, any related free writing prospectus and any document incorporated by reference into this prospectus are not the only ones that we face. Additional risks and uncertainties that we do not presently know about or that we currently believe are not material may also adversely affect our business. The trading price of our securities could decline due to the materialization of any of these risks, and, as a result, you may lose all or part of your investment. This prospectus and the documents incorporated herein by reference also contain forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the risks described in the documents incorporated herein by reference, including the 2024 Annual Report filed on Form 20-F on October 29, 2024; any prospectus supplement, and other documents we file from time to time with the SEC that are deemed incorporated by reference into this prospectus.

Past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results or trends in future periods. If any of these risks actually occurs, our business, financial condition, results of operations or cash flow could be seriously harmed. This could cause the trading price of our securities to decline, resulting in a loss of all or part of your investment. Please also carefully read the section entitled "Cautionary Note Regarding Forward-Looking Statements" included herein and included in our most recent Annual Report on Form 20-F and our updates, if any, to that section in our reports on Form 6-K incorporated by reference into this prospectus.

**Risks Related to Our Securities and the Offering**

***Future sales or other dilution of our equity could depress the market price of our Class A Ordinary Shares.***

Sales of our Class A Ordinary Shares, warrants, units or any combination of the foregoing in the public market, or the perception that such sales could occur, could negatively impact the price of our Class A Ordinary Shares. If one or more of our shareholders were to sell large portions of their holdings in a relatively short time, for liquidity or other reasons, the prevailing market price of our Class A Ordinary Shares could be negatively affected.

In addition, the issuance of additional shares of our Class A Ordinary Shares, securities convertible into or exercisable for our Class A Ordinary Shares, other equity-linked securities, including or warrants or any combination of the securities pursuant to this prospectus will dilute the ownership interest of our shareholders and could depress the market price of our Class A Ordinary Shares and impair our ability to raise capital through the sale of additional equity securities.

We may need to seek additional capital. If this additional financing is obtained through the issuance of equity securities or warrants to acquire equity securities, our existing shareholders could experience significant dilution upon the issuance, conversion or exercise of such securities.

***Our management will have broad discretion over the use of the proceeds we receive from the sale of our securities pursuant to this prospectus and might not apply the proceeds in ways that increase the value of your investment.***

Our management will have broad discretion to use the net proceeds from any offerings under this prospectus, and you will be relying on the judgment of our management regarding the application of these proceeds. Except as described in any prospectus supplement or in any related free writing prospectus that we may authorize to be provided to you, the net proceeds received by us from our sale of the securities described in this prospectus will be added to our general funds and will be used for general corporate purposes. Our management might not apply the net proceeds from the offerings of our securities in ways that increase the value of your investment and might not be able to yield a significant return, if any, on any investment of such net proceeds. You may not have the opportunity to influence our decisions on how such proceeds will be used.

**OFFER STATISTICS**

We may offer Class A Ordinary Shares, debt securities, warrants to purchase Class A Ordinary Shares, or debt securities, or units consisting of a combination of any or all of these securities at an aggregate offering price of up to $300,000,000. The warrants that we may offer will consist of warrants to purchase any of the other securities that may be sold under this prospectus. The securities offered under this prospectus may be offered separately, together, or in separate series, and in amounts, at prices and on terms to be determined at the time of sale.

This prospectus provides you with a general description of the securities we may offer. Each time we sell securities under this shelf registration, we will provide a prospectus supplement that will contain certain specific information about the terms of that offering, including a description of any risks related to the offering, if those terms and risks are not described in this prospectus. A prospectus supplement may also add, update or change information contained in this prospectus. If there is any inconsistency between the information in this prospectus and the applicable prospectus supplement, you should rely on the information in the prospectus supplement. The registration statement we filed with the SEC includes exhibits that provide more details on the matters discussed in this prospectus. You should read this prospectus and the related exhibits filed with the SEC and the accompanying prospectus supplement together with additional information described under the headings "Incorporation of Information By Reference" before investing in any of the securities offered.

**CAPITALIZATION AND INDEBTEDNESS**

Our capitalization will be set forth in the applicable prospectus supplement or in a report on Form 6-K subsequently furnished to the SEC and specifically incorporated by reference into this prospectus.

**DILUTION**

If required, we will set forth in a prospectus supplement the following information regarding any material dilution of the equity interests of investors purchasing securities in an offering under this prospectus:

● the net tangible book value per share of our equity securities before and after the offering;

● the amount of the increase in such net tangible book value per share attributable to the cash payments made by purchasers in the offering; and

● the amount of the immediate dilution from the public offering price which will be absorbed by such purchasers.

**USE OF PROCEEDS**

Except as described in any prospectus supplement and any free writing prospectus in connection with a specific offering, we currently intend to use the net proceeds from the sale of the securities offered under this prospectus for general corporate purposes, including the development and commercialization of our products, research and development, general and administrative expenses, license or technology acquisitions, and working capital and capital expenditures. We may also use the net proceeds to invest in or acquire complementary businesses, products, or technologies, although we have no current commitments or agreements with respect to any such investments or acquisitions as of the date of this prospectus. We have not determined the amount of net proceeds to be used specifically for the foregoing purposes. As a result, our management will have broad discretion in the allocation of the net proceeds and investors will be relying on the judgment of our management regarding the application of the proceeds of any sale of the securities. Pending use of the net proceeds, we intend to invest the proceeds in short-term, investment-grade, interest-bearing instruments.

Each time we offer securities under this prospectus, we will describe the intended use of the net proceeds from that offering in the applicable prospectus supplement. The actual amount of net proceeds we spend on a particular use will depend on many factors, including, our future capital expenditures, the amount of cash required by our operations, and our future revenue growth, if any. Therefore, we will retain broad discretion in the use of the net proceeds.

**TRANSFER AGENT**

Our transfer agent is VStock Transfer, LLC.

**PLAN OF DISTRIBUTION**

We may sell the securities offered by this prospectus from time to time in one or more transactions, including, without limitation:

● Through agents;

● To or through underwriters;

● Through broker-dealers (acting as agent or principal);

● Directly by us to purchasers (including our affiliates and shareholders), through a specific bidding or auction process, a rights offering, or other method;

● Through a combination of any such methods of sale; or

● Through any other methods described in a prospectus supplement.

The distribution of securities may be effected, from time to time, in one or more transactions, including:

● Block transactions (which may involve crosses) and transactions on Nasdaq or any other organized market where the securities may be traded;

● Purchases by a broker-dealer as principal and resale by the broker-dealer for its own account pursuant to a prospectus supplement;

● Ordinary brokerage transactions and transactions in which a broker-dealer solicits purchasers;

● Sales "at the market" to or through a market maker or into an existing trading market, on an exchange or otherwise; and

● Sales in other ways not involving market makers or established trading markets, including direct sales to purchasers.

The securities may be sold at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices relating to the prevailing market prices or at negotiated prices. The consideration may be cash, extinguishment of debt or another form negotiated by the parties. Agents, underwriters or broker-dealers may be paid compensation for offering and selling the securities. That compensation may be in the form of discounts, concessions or commissions to be received from us or from the purchasers of the securities. Dealers and agents participating in the distribution of the securities may be deemed to be underwriters, and compensation received by them on resale of the securities may be deemed to be underwriting discounts and commissions under the Securities Act. If such dealers or agents were deemed to be underwriters, they may be subject to statutory liabilities under the Securities Act.

We may also make direct sales through subscription rights distributed to our existing shareholders on a pro rata basis, which may or may not be transferable. In any distribution of subscription rights to our shareholders, if all of the underlying securities are not subscribed for, we may then sell the unsubscribed securities directly to third parties or may engage the services of one or more underwriters, dealers or agents, including standby underwriters, to sell the unsubscribed securities to third parties.

Some or all of the securities that we offer through this prospectus may be new issues of securities with no established trading market. Any underwriters to whom we sell our securities for public offering and sale may make a market in those securities, but they will not be obligated to do so and they may discontinue any market making at any time without notice. Accordingly, we cannot assure you of the liquidity of, or continued trading markets for, any securities that we offer.

Agents may, from time to time, solicit offers to purchase the securities. If required, we will name in the applicable prospectus supplement, document incorporated by reference or free writing prospectus, as applicable, any agent involved in the offer or sale of the securities and set forth any compensation payable to the agent. Unless otherwise indicated, any agent will be acting on a best efforts basis for the period of its appointment. Any agent selling the securities covered by this prospectus may be deemed to be an underwriter of the securities.

If underwriters are used in an offering, securities will be acquired by the underwriters for their own account and may be resold, from time to time, in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined at the time of sale, or under delayed delivery contracts or other contractual commitments. Securities may be offered to the public either through underwriting syndicates represented by one or more managing underwriters or directly by one or more firms acting as underwriters. If an underwriter or underwriters are used in the sale of securities, an underwriting agreement will be executed with the underwriter or underwriters at the time an agreement for the sale is reached. The applicable prospectus supplement will set forth the managing underwriter or underwriters, as well as any other underwriter or underwriters, with respect to a particular underwritten offering of securities, and will set forth the terms of the transactions, including compensation of the underwriters and dealers and the public offering price, if applicable. This prospectus, the applicable prospectus supplement and any applicable free writing prospectus will be used by the underwriters to resell the securities.

If a dealer is used in the sale of the securities, we, or an underwriter, will sell the securities to the dealer, as principal. The dealer may then resell the securities to the public at varying prices to be determined by the dealer at the time of resale. To the extent required, we will set forth in the prospectus supplement, document incorporated by reference or free writing prospectus, as applicable, the name of the dealer and the terms of the transactions.

We may directly solicit offers to purchase the securities and may make sales of securities directly to institutional investors or others. These persons may be deemed to be underwriters with respect to any resale of the securities. To the extent required, the prospectus supplement, document incorporated by reference or free writing prospectus, as applicable, will describe the terms of any such sales, including the terms of any bidding or auction process, if used.

Agents, underwriters and dealers may be entitled under agreements which may be entered into with us to indemnification by us against specified liabilities, including liabilities incurred under the Securities Act, or to contribution by us to payments they may be required to make in respect of such liabilities. If required, the prospectus supplement, document incorporated by reference or free writing prospectus, as applicable, will describe the terms and conditions of such indemnification or contribution. Some of the agents, underwriters or dealers, or their affiliates may be customers of, engage in transactions with or perform services for us or our subsidiaries or affiliates in the ordinary course of business.

Under the securities laws of some states, the securities offered by this prospectus may be sold in those states only through registered or licensed brokers or dealers.

Any person participating in the distribution of securities registered under the registration statement that includes this prospectus will be subject to applicable provisions of the Exchange Act, and the applicable SEC rules and regulations, including, among others, Regulation M, which may limit the timing of purchases and sales of any of our securities by any such person. Furthermore, Regulation M may restrict the ability of any person engaged in the distribution of our securities to engage in market-making activities with respect to our securities.

These restrictions may affect the marketability of our securities and the ability of any person or entity to engage in market-making activities with respect to our securities.

Certain persons participating in an offering may engage in over-allotment, stabilizing transactions, short-covering transactions and penalty bids in accordance with Regulation M under the Exchange Act that stabilize, maintain or otherwise affect the price of the offered securities. If any such activities will occur, they will be described in the applicable prospectus supplement.

If more than ten percent (10%) of the net proceeds of any offering of securities made under this prospectus will be received by Financial Industry Regulatory Authority ("FINRA") members participating in the offering or affiliates or associated persons of such FINRA members, the offering will be conducted in accordance with FINRA Conduct Rule 5110(h).

To the extent required, this prospectus may be amended or supplemented from time to time to describe a specific plan of distribution.

**DESCRIPTION OF SECURITIES WE MAY OFFER**

We may offer, from time to time, our Class A Ordinary Shares or debt securities, warrants to purchase Class A Ordinary Shares or debt securities, or units consisting of a combination of any or all of these securities in amounts we will determine from time to time, under this prospectus at prices and on terms to be determined by market conditions at the time of offering. This prospectus provides you with a general description of the securities we may offer. See "Description of Share Capital – Our Memorandum and Articles of Association – Ordinary Shares," "Description of Debt Securities," "Description of Warrants," and "Description of Units" below. Each time we offer a type or series of securities, we will provide a prospectus supplement that will describe the specific amounts, prices and other important terms of the securities, including, to the extent applicable:

● Designation or classification;

● Aggregate principal amount or aggregate offering price;

● Rates and times of payment of interest or dividends, if any;

● Redemption, conversion or sinking fund terms, if any;

● Voting or other rights, if any;

● Conversion prices, if any; and

● Important federal income tax considerations.

The prospectus supplement and any related free writing prospectus also may supplement, or, as applicable, add, update or change information contained in this prospectus or in documents we have incorporated by reference. However, no prospectus supplement or free writing prospectus will offer a security that is not registered and described in this prospectus at the time of the effectiveness of the registration statement of which this prospectus is a part.

The terms of any particular offering, the offering price and the net proceeds to us will be contained in the prospectus supplement, information incorporated by reference or free writing prospectus relating to such offering.

**Authorized Share Capital**

The following description of the material terms of Mobile-health Network Solutions' Ordinary Shares includes a summary of specified provisions of the Amended and Restated Memorandum of Association incorporated by reference herein as exhibit 3.1 (the "memorandum") and the Amended and Restated Articles of Association incorporated by reference herein as exhibit 3.2 (the "articles of association") (together the "memorandum and articles of association") of Mobile-health Network Solutions in effect as of the date of this prospectus. Such memorandum and articles of association of Mobile-health Network Solutions are attached as exhibits to this registration statement of which this prospectus is a part and incorporated herein by reference. You are encouraged to read the relevant provisions of the Cayman Islands Companies Act and Mobile-health Network Solutions' memorandum and articles of association as they relate to the following summary.

We are a Cayman Islands exempted company incorporated with limited liability and our affairs are governed by our memorandum and articles of association, the Companies Act (2025 Revision) of the Cayman Islands, which we refer to as the Companies Act below, and the common law of the Cayman Islands.

As of the date of this prospectus, our authorized share capital is US$50,000 divided into 1,562,500,000 ordinary shares of nominal or par value of US$0.000032 each, comprising of (i) 781,250,000 Class A Ordinary Shares of nominal or par value of US$0.000032 each, (ii) 781,250,000 Class B Ordinary Shares of nominal or par value of US$0.000032 each.

3,745,109 Class A Ordinary Shares of nominal or par value of US$0.000032 each and 1,459,438 Class B Ordinary Shares of nominal or par value of US$0.000032 each have been issued. All of our issued and outstanding shares are fully paid.

**Our Memorandum and Articles of Association**

Our shareholders have adopted an amended and restated memorandum and articles of association (adopted by special resolution with effect from 28 February 2025 dated 3 February 2025), which we refer to below as our memorandum and articles of association, and this memorandum and articles of association is currently effective and shall remain in effect after the date of the Company's listing on the Nasdaq Capital Market. The following are summaries of material provisions of the memorandum and articles of association and of the Companies Act, insofar as they relate to the material terms of our Class A Ordinary Shares.

*Objects of Our Company*. Under our memorandum and articles of association, the objects of our Company are unrestricted and we have the full power and authority to carry out any object not prohibited by the laws of the Cayman Islands.

*Ordinary Shares*. Our Ordinary Shares are divided into Class A Ordinary Shares and Class B Ordinary Shares. Holders of our Class A Ordinary Shares and Class B Ordinary Shares will have the same rights except for voting and conversion rights. Each Class A Ordinary Share shall entitle the holder thereof to one vote on all matters subject to vote at our general meetings and each Class B Ordinary Share shall entitle the holder thereof to 10 votes on all matters subject to vote at our general meetings. Our Class A Ordinary Shares are issued in registered form and are issued when registered in our register of members. We may not issue shares to bearer. Our shareholders who are non-residents of the Cayman Islands may freely hold and vote their shares.

*Conversion.* Class B Ordinary Shares may be converted into the same number of Class A Ordinary Shares at the option of the holders thereof at any time, while Class A Ordinary Shares cannot be converted into Class B Ordinary Shares under any circumstances.

*Dividends.* The holders of our Class A Ordinary Shares are entitled to such dividends as may be declared by our Board or declared by our shareholders by ordinary resolution (provided that no dividend may be declared by our shareholders which exceeds the amount recommended by our directors). Our memorandum and articles of association provide that dividends may be declared and paid out of our profits, realized or unrealized, or from any reserve set aside from profits which our Board determines is no longer needed. Under the laws of the Cayman Islands, our Company may pay a dividend out of either profit or share premium account, provided that in no circumstances may a dividend be paid if this would result in our Company being unable to pay its debts as they fall due in the ordinary course of business.

*Voting Rights.* Holders of Class A Ordinary Shares and Class B Ordinary Shares shall, at all times, vote together as one class on all matters submitted to a vote by the members at any general meeting of the Company. Each Class A Ordinary Share shall be entitled to one vote and each Class B Ordinary Share shall be entitled to 10 votes on all matters subject to the vote at general meetings of our Company. Voting at any meeting of shareholders is by show of hands unless a poll (before or on the declaration of the result of the show of hands) is demanded. A poll may be demanded by the chairperson of such meeting or any one shareholder present in person or by proxy.

An ordinary resolution to be passed at a meeting by the shareholders requires the affirmative vote of a simple majority of the votes attaching to the Ordinary Shares cast at a meeting, while a special resolution requires the affirmative vote of no less than two-thirds of the votes cast attaching to the outstanding and issued Ordinary Shares cast at a meeting. A special resolution will be required for important matters such as a change of name or making changes to our memorandum and articles of association. Our shareholders may, among other things, divide or combine their shares by ordinary resolution.

*General Meetings of Shareholders.* As a Cayman Islands exempted company, we are not obliged by the Companies Act to call shareholders' annual general meetings. Our memorandum and articles of association provide that we may (but are not obliged to) in each year hold a general meeting as our annual general meeting in which case we shall specify the meeting as such in the notices calling it, and the annual general meeting shall be held at such time and place as may be determined by our directors.

Shareholders' general meetings may be convened by a majority of our Board. Advance notice of at least seven days is required for the convening of our annual general shareholders' meeting (if any) and any other general meeting of our shareholders. A quorum required for any general meeting of shareholders consists of at least one shareholder present or by proxy, representing not less than one-third of all votes attaching to the issued and outstanding shares in our Company entitled to vote at the general meeting.

The Companies Act provides shareholders with only limited rights to requisition a general meeting, and does not provide shareholders with any right to put any proposal before a general meeting. However, these rights may be provided in a company's articles of association. Our memorandum and articles of association provide that upon the requisition of any one or more of our shareholders who together hold shares which carry in aggregate not less than one-third of all votes attaching to the issued and outstanding shares of our Company entitled to vote at general meetings, our Board will convene an extraordinary general meeting and put the resolutions so requisitioned to a vote at such meeting. However, our memorandum and articles of association do not provide our shareholders with any right to put any proposals before annual general meetings or extraordinary general meetings not called by such shareholders.

*Transfer of Ordinary Shares.* Subject to the restrictions set out in our memorandum and articles of association as set out below, any of our shareholders may transfer all or any of his or her Ordinary Shares by an instrument of transfer in the usual or common form or any other form approved by our Board.

Our Board may, in its absolute discretion, decline to register any transfer of any ordinary share which is not fully paid up or on which we have a lien. Our Board may also decline to register any transfer of any ordinary share unless:

● the instrument of transfer is lodged with us, accompanied by the certificate for the Ordinary Shares to which it relates and such other evidence as our Board may reasonably require to show the right of the transferor to make the transfer;

● the instrument of transfer is in respect of only one class of Ordinary Shares;

● the instrument of transfer is properly stamped, if required;

● in the case of a transfer to joint holders, the number of joint holders to whom the Ordinary Share is to be transferred does not exceed four;

● the ordinary shares transferred is free of any lien in favor of the Company; and

● a fee of such maximum sum as the Nasdaq Capital Market may determine to be payable or such lesser sum as our directors may from time to time require is paid to us in respect thereof.

If our directors refuse to register a transfer they shall, within three months after the date on which the instrument of transfer was lodged, send to each of the transferor and the transferee notice of such refusal.

The registration of transfers may, after compliance with any notice required of Nasdaq Capital Market, be suspended and the register closed at such times and for such periods as our Board may from time to time determine, provided, however, that the registration of transfers shall not be suspended nor the register closed for more than 30 days in any year as our Board may determine.

*Liquidation*. On the winding up of our Company, if the assets available for distribution amongst our shareholders shall be more than sufficient to repay the whole of the share capital at the commencement of the winding up, the surplus shall be distributed amongst our shareholders in proportion to the par value of the shares held by them at the commencement of the winding up, subject to a deduction from those shares in respect of which there are monies due, of all monies payable to our Company for unpaid calls or otherwise. If our assets available for distribution are insufficient to repay all of the paid-up capital, the assets will be distributed so that the losses are borne by our shareholders in proportion to the par value of the shares held by them.

*Calls on Shares and Forfeiture of Shares*. Our Board may from time to time make calls upon shareholders for any amounts unpaid on their shares in a notice served to such shareholders at least 14 days prior to the specified time and place of payment. The shares that have been called upon and remain unpaid are subject to forfeiture.

*Redemption, Repurchase and Surrender of Shares*. We may issue shares on terms that such shares are subject to redemption, at our option or at the option of the holders of these shares, on such terms and in such manner as may be determined by our Board or by special resolution of our shareholders. Our Company may also repurchase any of our shares on such terms and in such manner as have been approved by our Board or by an ordinary resolution of our shareholders. Under the Companies Act, the redemption or repurchase of any share may be paid out of our Company's profits or out of the proceeds of a new issue of shares made for the purpose of such redemption or repurchase, or out of capital (including share premium account and capital redemption reserve) if our Company can, immediately following such payment, pay its debts as they fall due in the ordinary course of business. In addition, under the Companies Act no such share may be redeemed or repurchased (a) unless it is fully paid up, (b) if such redemption or repurchase would result in there being no shares issued and outstanding or (c) if the Company has commenced liquidation. In addition, our Company may accept the surrender of any fully paid share for no consideration.

*Variations of Rights of Shares*. If at any time, our share capital is divided into different classes of shares, the rights attached to any class may be materially adversely varied with the consent in writing of the holders of at least two-thirds (2/3) of the issued shares of that class or with the sanction of a resolution passed by not less than two-thirds of the votes cast at a separate meeting of the holders of the shares of that class. The rights conferred upon the holders of the shares of any class issued shall not, be deemed to be materially adversely varied by the creation, allotment or issue of further shares ranking *pari passu* with or subsequent to them or the redemption or purchase of any shares of any class by the Company. The rights of the holders of shares shall not be deemed to be materially adversely varied by the creation or issue of shares with preferred or other rights including, without limitation, the creation of shares with enhanced or weighted voting rights.

*Issuance of Additional Shares*. Our memorandum and articles of association authorize our Board to issue additional Ordinary Shares from time to time as our Board shall determine, to the extent out of available authorized but unissued Ordinary Shares.

*Preferred Shares*. Our memorandum and articles of association also authorize our Board to establish from time to time one or more series of preferred shares and to determine, with respect to any series of preferred shares, the terms and rights of that series, including:

● the designation of the series;

● the number of shares of the series;

● the dividend rights, dividend rates, conversion rights, voting rights; and

● the rights and terms of redemption and liquidation preferences.

Our Board may issue preferred shares without action by our shareholders to the extent out of authorized but unissued preferred shares. Issuance of these shares may dilute the voting power of holders of Ordinary Shares.

*Inspection of Books and Records*. Holders of our Class A Ordinary Shares will have no general right under Cayman Islands law to inspect or obtain copies of our list of shareholders or our corporate records. However, we will provide our shareholders with annual audited financial statements. See "Where You Can Find Additional Information."

*Anti-Takeover Provisions*. Some provisions of our memorandum and articles of association may discourage, delay or prevent a change of control of our Company or management that shareholders may consider favorable, including provisions that:

● authorize our Board to issue preferred shares in one or more series and to designate the price, rights, preferences, privileges and restrictions of such preferred shares without any further vote or action by our shareholders; and

● limit the ability of shareholders to requisition and convene general meetings of shareholders.

However, under Cayman Islands law, our directors may only exercise the rights and powers granted to them under our memorandum and articles of association for a proper purpose and for what they believe in good faith to be in the best interests of our Company.

*Exempted Company*. We are an exempted company with limited liability under the Companies Act. The Companies Act distinguishes between ordinary resident companies and exempted companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands may apply to be registered as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except that an exempted company:

● does not have to file an annual return of its shareholders with the Registrar of Companies of the Cayman Islands;

● is not required to open its register of members for inspection;

● does not have to hold an annual general meeting;

● may obtain an undertaking against the imposition of any future taxation (such undertakings are usually given for 20 years in the first instance);

● may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands;

● may register as a limited duration company; and

● may register as a segregated portfolio company.

"Limited liability" means that the liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil).

***Differences in Corporate Law***

The Companies Act is derived, to a large extent, from the older Companies Acts of England but does not follow recent English statutory enactments and accordingly there are significant differences between the Companies Act and the current Companies Act of England. In addition, the Companies Act differs from laws applicable to U.S. corporations and their shareholders. Set forth below is a summary of certain significant differences between the provisions of the Companies Act applicable to us and the laws applicable to companies incorporated in the United States and their shareholders.

*Mergers and Similar Arrangements*. The Companies Act permits mergers and consolidations between Cayman Islands companies and between Cayman Islands companies and non-Cayman Islands companies. For these purposes, (i) "merger" means the merging of two or more constituent companies and the vesting of their undertaking, property and liabilities in one of such companies as the surviving company, and (ii) a "consolidation" means the combination of two or more constituent companies into a consolidated company and the vesting of the undertaking, property and liabilities of such companies to the consolidated company. In order to effect such a merger or consolidation, the directors of each constituent company must approve a written plan of merger or consolidation, which must then be authorized by (a) a special resolution of the shareholders of each constituent company, and (b) such other authorization, if any, as may be specified in such constituent company's articles of association. The written plan of merger or consolidation must be filed with the Registrar of Companies of the Cayman Islands together with a declaration as to the solvency of the consolidated or surviving company, a list of the assets and liabilities of each constituent company and an undertaking that a copy of the certificate of merger or consolidation will be given to the members and creditors of each constituent company and that notification of the merger or consolidation will be published in the Cayman Islands Gazette. Court approval is not required for a merger or consolidation which is effected in compliance with these statutory procedures.

A merger between a Cayman parent company and its Cayman subsidiary or subsidiaries does not require authorization by a resolution of shareholders of that Cayman subsidiary if a copy of the plan of merger is given to every member of that Cayman subsidiary to be merged unless that member agrees otherwise. For this purpose a company is a "parent" of a subsidiary if it holds issued shares that together represent at least ninety percent (90%) of the votes at a general meeting of the subsidiary.

The consent of each holder of a fixed or floating security interest over a constituent company is required unless this requirement is waived by a court in the Cayman Islands.

Save in certain limited circumstances, a shareholder of a Cayman constituent company who dissents from the merger or consolidation is entitled to payment of the fair value of his shares (which, if not agreed between the parties, will be determined by the Cayman Islands court) upon dissenting to the merger or consolidation, provided that the dissenting shareholder complies strictly with the procedures set out in the Companies Act. The exercise of dissenter rights will preclude the exercise by the dissenting shareholder of any other rights to which he or she might otherwise be entitled by virtue of holding shares, save for the right to seek relief on the grounds that the merger or consolidation is void or unlawful.

Separate from the statutory provisions relating to mergers and consolidations, the Companies Act also contains statutory provisions that facilitate the reconstruction and amalgamation of companies by way of schemes of arrangement, provided that the arrangement is approved by a majority in number of each class of shareholders and creditors with whom the arrangement is to be made, and who must in addition represent three-fourths in value of each such class of shareholders or creditors, as the case may be, that are present and voting either in person or by proxy at a meeting, or meetings, convened for that purpose. The convening of the meetings and subsequently the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder has the right to express to the court the view that the transaction ought not to be approved, the court can be expected to approve the arrangement if it determines that:

● the statutory provisions as to the required majority vote have been met;

● the shareholders have been fairly represented at the meeting in question and the statutory majority are acting *bona fide* without coercion of the minority to promote interests adverse to those of the class;

● the arrangement is such that may be reasonably approved by an intelligent and honest man of that class acting in respect of his interest; and

● the arrangement is not one that would more properly be sanctioned under some other provision of the Companies Act.

The Companies Act also contains a statutory power of compulsory acquisition which may facilitate the "squeeze out" of dissentient minority shareholders upon a tender offer. When a tender offer is made and accepted by holders of 90.0% of the shares affected within four months, the offeror may, within a two-month period commencing on the expiration of such four-month period, require the holders of the remaining shares to transfer such shares to the offeror on the terms of the offer. An objection can be made to the Grand Court of the Cayman Islands but this is unlikely to succeed in the case of an offer which has been so approved unless there is evidence of fraud, bad faith or collusion.

If an arrangement and reconstruction by way of scheme of arrangement is thus approved and sanctioned, or if a tender offer is made and accepted in accordance with the foregoing statutory procedures, a dissenting shareholder would have no rights comparable to appraisal rights, which would otherwise ordinarily be available to dissenting shareholders of Delaware corporations, providing rights to receive payment in cash for the judicially determined value of the shares.

*Shareholders' Suits*. In principle, we will normally be the proper plaintiff to sue for a wrong done to us as a company, and as a general rule a derivative action may not be brought by a minority shareholder. However, based on English authorities, which would in all likelihood be of persuasive authority in the Cayman Islands, the Cayman Islands court can be expected to follow and apply the common law principles (namely the rule in Foss v. Harbottle and the exceptions thereto) so that a non-controlling shareholder may be permitted to commence a class action against or derivative actions in the name of the company to challenge actions where:

● a company acts or proposes to act illegally or ultra vires (and is therefore incapable of ratification by the shareholder);

● the act complained of, although not *ultra vires*, could only be effected duly if authorized by more than a simple majority vote that has not been obtained;

● an act purports to abridge or abolish the individual rights of a shareholder; and

● those who control the company are perpetrating a "fraud on the minority."

In the case of a company (not being a bank) having its share capital divided into shares, the Grand Court may, on the application of members holding not less than one fifth of the shares of the company in issue, appoint an inspector to examine the affairs of the company and to report thereon in such manner as the Grand Court shall direct.

*Indemnification of Directors and Executive Officers and Limitation of Liability*. Cayman Islands law does not limit the extent to which a company's memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. Our memorandum and articles of association provide that that we shall indemnify our officers and directors against all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or sustained by such directors or officer, other than by reason of such person's dishonesty, willful default or fraud, in or about the conduct of our Company's business or affairs (including as a result of any mistake of judgment) or in the execution or discharge of his duties, powers, authorities or discretions, including, without prejudice to the generality of the foregoing, any costs, expenses, losses or liabilities incurred by such director or officer in defending (whether successfully or otherwise) any civil proceedings concerning our Company or its affairs in any court whether in the Cayman Islands or elsewhere. This standard of conduct is generally the same as permitted under the Delaware General Corporation Law for a Delaware corporation.

In addition, we have entered into indemnification agreements with our directors and executive officers that provide such persons with additional indemnification beyond that provided in our memorandum and articles of association.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers or persons controlling us under the foregoing provisions, 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.

*Directors' Fiduciary Duties*. Under Delaware corporate law, a director of a Delaware corporation has a fiduciary duty to the corporation and its shareholders. This duty has two components: the duty of care and the duty of loyalty. The duty of care requires that a director act in good faith, with the care that an ordinarily prudent person would exercise under similar circumstances. Under this duty, a director must inform himself of, and disclose to shareholders, all material information reasonably available regarding a significant transaction. The duty of loyalty requires that a director acts in a manner he reasonably believes to be in the best interests of the corporation. He must not use his corporate position for personal gain or advantage. This duty prohibits self-dealing by a director and mandates that the best interest of the corporation and its shareholders take precedence over any interest possessed by a director, officer or controlling shareholder and not shared by the shareholders generally. In general, actions of a director are presumed to have been made on an informed basis, in good faith and in the honest belief that the action taken was in the best interests of the corporation. However, this presumption may be rebutted by evidence of a breach of one of the fiduciary duties. Should such evidence be presented concerning a transaction by a director, the director must prove the procedural fairness of the transaction, and that the transaction was of fair value to the corporation.

As a matter of Cayman Islands law, a director of a Cayman Islands company is in the position of a fiduciary with respect to the company and therefore it is considered that he owes the following duties to the company — a duty to act *bona fide* in the best interests of the company, a duty not to make a profit based on his position as director (unless the company permits him to do so), a duty not to put himself in a position where the interests of the company conflict with his personal interest or his duty to a third party, and a duty to exercise powers for the purpose for which such powers were intended. A director of a Cayman Islands company owes to the company a duty to act with skill and care. It was previously considered that a director need not exhibit in the performance of his duties a greater degree of skill than may reasonably be expected from a person of his knowledge and experience. However, English and Commonwealth courts have moved towards an objective standard with regard to the required skill and care and these authorities are likely to be followed in the Cayman Islands.

*Shareholder Action by Written Consent*. Under the Delaware General Corporation Law, a corporation may eliminate the right of shareholders to act by written consent by amendment to its certificate of incorporation. Cayman Islands law and our memorandum and articles of association provide that our shareholders may approve corporate matters by way of a unanimous written resolution signed by or on behalf of each shareholder who would have been entitled to vote on such matter at a general meeting without a meeting being held.

*Shareholder Proposals*. Under the Delaware General Corporation Law, a shareholder has the right to put any proposal before the annual meeting of shareholders; provided it complies with the notice provisions in the governing documents. A special meeting may be called by the board of directors or any other person authorized to do so in the governing documents, but shareholders may be precluded from calling special meetings.

The Companies Act provides shareholders with only limited rights to requisition a general meeting, and does not provide shareholders with any right to put any proposal before a general meeting. However, these rights may be provided in a company's articles of association. Our memorandum and articles of association allow any one or more of our shareholders holding shares which carry in aggregate not less than one-third of the total number of votes attaching to all issued and the outstanding shares of our Company entitled to vote at general meetings to requisition an extraordinary general meeting of our shareholders, in which case our Board is obliged to convene an extraordinary general meeting and to put the resolutions so requisitioned to a vote at such meeting. Other than this right to requisition a shareholders' meeting, our memorandum and articles of association do not provide our shareholders with any other right to put proposals before annual general meetings or extraordinary general meetings. As a Cayman Islands exempted company, we are not obliged by law to call shareholders' annual general meetings.

*Cumulative Voting*. Under the Delaware General Corporation Law, cumulative voting for elections of directors is not permitted unless the corporation's certificate of incorporation specifically provides for it. Cumulative voting potentially facilitates the representation of minority shareholders on a board of directors since it permits the minority shareholder to cast all the votes to which the shareholder is entitled on a single director, which increases the shareholder's voting power with respect to electing such director. There are no prohibitions in relation to cumulative voting under the laws of the Cayman Islands but our memorandum and articles of association do not provide for cumulative voting. As a result, our shareholders are not afforded any less protections or rights on this issue than shareholders of a Delaware corporation.

 

 

*Removal of Directors*. Under the Delaware General Corporation Law, a director of a corporation with a classified board may be removed only for cause with the approval of a majority of the issued and outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. Under our memorandum and articles of association, directors may be removed with or without cause, by an ordinary resolution of our shareholders. A director will also cease to be a director if he (i) becomes bankrupt or makes any arrangement or composition with his creditors; (ii) dies or is found to be or becomes of unsound mind; (iii) resigns his office by notice in writing; (iv) without special leave of absence from our Board, is absent from meetings of our Board for three consecutive meetings and our Board resolves that his office be vacated; or (v) is removed from office pursuant to any other provision of our articles of association.

*Transactions with Interested Shareholders*. The Delaware General Corporation Law contains a business combination statute applicable to Delaware corporations whereby, unless the corporation has specifically elected not to be governed by such statute by amendment to its certificate of incorporation, it is prohibited from engaging in certain business combinations with an "interested shareholder" for three years following the date that such person becomes an interested shareholder. An interested shareholder generally is a person or a group who or which owns or owned 15% or more of the target's outstanding voting share within the past three years. This has the effect of limiting the ability of a potential acquirer to make a two-tiered bid for the target in which all shareholders would not be treated equally. The statute does not apply if, among other things, prior to the date on which such shareholder becomes an interested shareholder, the board of directors approves either the business combination or the transaction which resulted in the person becoming an interested shareholder. This encourages any potential acquirer of a Delaware corporation to negotiate the terms of any acquisition transaction with the target's board of directors.

Cayman Islands law has no comparable statute. As a result, we cannot avail ourselves of the types of protections afforded by the Delaware business combination statute. However, although Cayman Islands law does not regulate transactions between a company and its significant shareholders, it does provide that such transactions must be entered into *bona fide* in the best interests of the company and not with the effect of constituting a fraud on the minority shareholders.

*Dissolution; Winding up*. Under the Delaware General Corporation Law, unless the board of directors approves the proposal to dissolve, dissolution must be approved by shareholders holding 100% of the total voting power of the corporation. Only if the dissolution is initiated by the board of directors may it be approved by a simple majority of the corporation's outstanding shares. Delaware law allows a Delaware corporation to include in its certificate of incorporation a supermajority voting requirement in connection with dissolutions initiated by either an order of the courts of the Cayman Islands or by the board of directors.

Under Cayman Islands law, a company may be wound up by either an order of the courts of the Cayman Islands or by a special resolution of its members or, if the company is unable to pay its debts as they fall due, by an ordinary resolution of its members. The court has authority to order winding up in a number of specified circumstances including where it is, in the opinion of the court, just and equitable to do so.

*Variation of Rights of Shares*. Under the Delaware General Corporation Law, a corporation may vary the rights of a class of shares with the approval of a majority of the outstanding shares of such class, unless the certificate of incorporation provides otherwise. Under our memorandum and articles of association, if our share capital is divided into more than one class of shares, the rights attached to any such class may, subject to any rights or restrictions for the time being attached to any class, only be materially adversely varied with the consent in writing of the holders of at least two-thirds (2/3) of the issued shares of that class or with the sanction of a special resolution passed at a separate meeting of the holders of the shares of that class. The rights conferred upon the holders of the shares of any class issued with preferred or other rights shall not, subject to any rights or restrictions for the time being attached to the shares of that class, be deemed to be materially adversely varied by the creation, allotment or issue of further shares ranking *pari passu* with or subsequent to them or the redemption or purchase of any shares of any class by our Company. The rights of the holders of shares shall not be deemed to be materially adversely varied by the creation or issue of shares with preferred or other rights including, without limitation, the creation of shares with enhanced or weighted voting rights.

*Amendment of Governing Documents*. Under the Delaware General Corporation Law, a corporation's governing documents may be amended with the approval of a majority of the outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. Under the Companies Act and our memorandum and articles of association, our memorandum and articles of association may only be amended by a special resolution of our shareholders.

*Rights of Non-resident or Foreign Shareholders*. There are no limitations imposed by our memorandum and articles of association on the rights of non-resident or foreign shareholders to hold or exercise voting rights on our shares. In addition, there are no provisions in our memorandum and articles of association governing the ownership threshold above which shareholder ownership must be disclosed.

**History of Securities Issuances**

During the past three years, we have issued the Class A Ordinary Shares as described below:

As of February 13, 2024, we have issued an aggregate of 62,583 Class A Ordinary Shares of a nominal or par value of US$0.001 each, comprising: (i) 16,649 Class A Ordinary Shares of a nominal or par value of US$0.001 each issued to 5 advisors in February 2024 in consideration for services provided to the Company pursuant to various agreements, (ii) 4,439 Class A Ordinary Shares of a nominal or par value of US$0.001 each issued to 22 employees pursuant to the provisions of the 2023 Employee Incentive Plan in February 2024, (iii) 170 Class A Ordinary Shares of a nominal or par value of US$0.001 each issued in January 2024 to one investor for a total consideration of S$100,000***,*** (iv) 2,879 Class A Ordinary Shares of a nominal or par value of US$0.001 each issued in September 2023 and October 2023 to four investors for a total consideration of S$1,694,843, (v) a total of 935 Class A Ordinary Shares of a nominal or par value of US$0.001 each issued to three investors in July and August 2023 for a total consideration of S$550,000, (vi) 2,225 Class A Ordinary Shares of a nominal or par value of US$0.001 each issued to two investors on April 18, 2023 for a total consideration of S$1,250,000 pursuant to share subscription agreements, (vii) 11,631 Class A Ordinary Shares of a nominal or par value of US$0.001 each issued to three persons on May 8, 2022 pursuant to the capitalization of a shareholder loan of S$6,500,000, and (viii) 23,655 Class A Ordinary Shares of a nominal or par value of US$0.001 each issued to four investors on May 8, 2022 for a total consideration of S$13,220,000 pursuant to a share subscription agreement, among which 16,104 Class A Ordinary Shares of a nominal or par value of US$0.001 each held by one of the investors were subsequently repurchased by the Company in January 2023 for a consideration of $9,000,000.

We believe that each of the issuances was exempt from registration pursuant to Section 4(a)(2) of the Securities Act, regarding transactions not involving a public offering, or in reliance on Regulation S under the Securities Act regarding sales by an issuer in offshore transactions. None of the transactions involved an underwriter.

On February 14, 2024, shareholders' resolutions were passed to authorize the sub-division of each of the Company's issued and unissued shares into 250 Ordinary Shares such that the authorized share capital of the Company was changed from US$50,000 divided into 50,000,000 Ordinary Shares of a nominal or par value of US$0.001 each, comprising 25,000,000 Class A Ordinary Shares of a nominal or par value of US$0.001 each, and 25,000,000 Class B Ordinary Shares of a nominal or par value of US$0.001 each to US$50,000 divided into 12,500,000,000 Ordinary Shares of a nominal or par value of US$0.000004 each, comprising 6,250,000,000 Class A Ordinary Shares of a nominal or par value of US$0.000004 each, and 6,250,000,000 Class B Ordinary Shares of a nominal or par value of US$0.000004 each. Accordingly, the issued 62,583 Class A Ordinary Shares of a nominal or par value of US$0.001 each were divided into 15,645,750 Class A Ordinary Shares of a nominal or par value of US$0.000004 each.

On February 19, 2024, the Company completed the sub-division of the issued Class A and Class B Ordinary Shares of a nominal or par value of $0.001 each in the capital of the Company into 250 ordinary shares of a nominal or par value of $0.000004 each. Before the subdivision, the Company's ordinary shares issued and outstanding was 78,687 Class A Ordinary Shares and 48,313 Class B Ordinary Shares. After the subdivision, the Company's ordinary shares issued and outstanding was 19,671,750 Class A Ordinary Shares and 12,078,250 Class B Ordinary Shares.

On April 9, 2024, the Company entered into an underwriting agreement with Network 1 Financial Securities Inc. (the "Underwriter") who acted as an underwriter of the Company for its initial public offering ("IPO"). The Company agreed to issue warrants to the Underwriter to purchase a number of Class A Ordinary Shares equal to 7.5% of the total number of Class A Ordinary Shares sold in the IPO, including Class A Ordinary Shares issued upon exercise of underwriter's over-allotment option at an exercise price equal to 140% of the public offering price of the Class A Ordinary Shares sold in the IPO. The warrants were exercisable following the date of commencement of sales of the offering and for a period of five years thereafter, in whole or in part.

On April 12, 2024, the Company completed its initial public offering in which the Company issued and sold an aggregate of 2,587,000 Class A Ordinary Shares of a nominal or par value of US$0.000004 each, which includes 337,500 Class A Ordinary Shares subject to the over-allotment option being exercised by the Underwriter, at a price of $4.00 per Class A Ordinary Shares.

On April 19, 2024, the Underwriter exercised fully its warrants on a cashless basis, pursuant to the underwriting agreement signed on April 12, 2024. The Company issued an aggregate of 154,212 Class A Ordinary Shares of a nominal or par value of US$0.000004 each upon the exercise of warrants. There was no outstanding warrant as of June 30, 2024.

On June 27, 2024, following the Company's receipt of notice from Nyam Ngian Kwong Denis Christopher that he elected to convert his shares, his 407,750 Class B Ordinary Shares were re-designated to 407,750 Class A Ordinary Shares.

On February 14, 2025, the Company entered into a standby equity purchase agreement with YA II PN, Ltd., a Cayman Islands exempted limited company. As consideration for YA II PN, Ltd.'s subscription commitment, the Company issued 309,661 Class A Ordinary Shares as a commitment fee to YA II PN, Ltd. on March 3, 2025, which is equivalent to 1% of $10,000,000 worth of Ordinary Shares. As at July 14, 2025, the Company has issued 797,827 Class A Ordinary Shares to YA II PN, Ltd..

On February 28, 2025, each of the Company's issued and unissued shares was consolidated into 8 Ordinary Shares such that the authorized share capital of the Company was changed from US$50,000 divided into 12,500,000,000 Ordinary Shares of a nominal or par value of US$0.000004 each, comprising 6,250,000,000 Class A Ordinary Shares of a nominal or par value of US$0.000004 each, and 6,250,000,000 Class B Ordinary Shares of a nominal or par value of US$0.000004 each to US$50,000 divided into 1,562,500,000 Ordinary Shares of a nominal or par value of US$0.000032 each, comprising 781,250,000 Class A Ordinary Shares of a nominal or par value of US$0.000032 each, and 781,250,000 Class B Ordinary Shares of a nominal or par value of US$0.000032 each. Accordingly, the issued 22,816,212 Class A Ordinary Shares of a nominal or par value of US$0.000004 each were consolidated into approximately 2,852,027 Class A Ordinary Shares of a nominal or par value of US$0.000032 each.

On June 18, 2025, the Company issued 112,423 Class A Ordinary Shares to private investors in accordance with the Securities Purchase Agreement dated May 2, 2025. These shares were not registered under the Securities Act or any state securities laws, and have been issued in reliance on the exemptions from registration provided by Section 4(a)(2) under the Securities Act and Regulation D promulgated thereunder.

***Agreements with Shareholders***

In connection with our previous fund raising, we have entered into a series of agreements with our investors since 2016 and in certain instances, some of our early shareholders are also parties to such agreements. These agreements provide for certain investors' rights, including but not limited to information rights, rights of first refusal, preemptive rights, rights to appoint directors, co-sale rights, drag-along rights and contain provisions governing our board of directors and other corporate governance matters. Most of these agreements, along with such rights accorded to certain shareholders and the corporate governance provisions contained therein, will be terminated on the date of the Company's listing on the Nasdaq Capital Market, except that we expect four agreements will survive the completion of this offering. The investors of these agreements owned approximately 1.232% of the Company's issued and outstanding Class A Ordinary Shares, which in total represented approximately 0.3% of the aggregate voting power in the Company as of the date of this prospectus. Below is a summary of key shareholders' special rights provided by these agreements which will survive the completion of this offering:

*Pre-emption rights*. The investors have the right to participate in any new issues of securities *pro rata* to their shareholding percentage, and the right to acquire the Company's shares which are proposed to be transferred, including the right to acquire any excess shares not accepted by other shareholders of the Company.

*Co-sale rights*. If any other shareholders sell his or her shares, the investors have the right to sell a *pro rata* proportion of the number of shares being sold by other shareholders on the same terms and same price.

*Drag-along rights*. If the holders of not less than two-thirds of the ordinary shares (including certain investors) agree to sell their shares, all remaining shareholders and option holders will be required to sell their shares to the same purchaser at the same price.

***Grants of Options***

We have granted options to purchase our Class A Ordinary Shares to certain of our employees of the Company and/or any of its subsidiaries, including all directors, advisors and consultants of the Company and its subsidiaries, with effect from March 27, 2023. On August 1 and December 18, 2023, we granted options to our employees to purchase a total of 4,439 Class A Ordinary Shares of a nominal or par value of US$0.001 each. On February 13, 2024, the Company issued 4,439 Class A Ordinary Shares of a nominal or par value of US$0.001 each to the holders of the options, pursuant to the provisions of the Plan. On February 14, 2024, the issued 4,439 Class A Ordinary Shares of a nominal or par value of US$0.001 each were divided into 1,109,750 Class A Ordinary Shares of a nominal or par value of US$0.000004 each. On February 28, 2025, the issued 1,109,750 Class A Ordinary Shares of a nominal or par value of US$0.000004 each under the Plan were consolidated into 138,719 Class A Ordinary Shares of a nominal or par value of US$0.000032 each (subject to rounding up of fractional shares to the nearest whole number). See "Management—2023 Employee Incentive Plan."

**Description of Debt Securities**

<u>General</u>. We may issue debt securities which may or may not be converted into Class A Ordinary Shares.. We may issue the debt securities independently or together with any underlying securities, and warrants may be attached or separate from the underlying securities. In connection with the issuance of any debt securities, we do not intend to issue them pursuant to a trust indenture upon reliance of Section 304(a)(8) of the Trust Indenture Act of 1939 ("Trust Indenture Act") and Rule 4a-1 promulgated thereunder.

We may also issue a series of debt securities under a separate indenture agreement to be entered into between us and an indenture agent. Such indenture agreement, if any, will not be qualified with the SEC pursuant to an exemption. The indenture agent will act solely as our agent in connection with the warrants of such series and will not assume any obligation or relationship of agency for or with holders or beneficial owners of warrants. However, if we are required to register such trust indenture under the Trust Indenture Act, we will pass on the financing under this registration statement.

The following description is a summary of selected provisions relating to the debt securities that we may issue. The summary is not complete. When debt securities are offered in the future, a prospectus supplement, information incorporated by reference or a free writing prospectus, as applicable, will explain the particular terms of those securities and the extent to which these general provisions may apply. The specific terms of the debt securities as described in a prospectus supplement, information incorporated by reference, or free writing prospectus will supplement and, if applicable, may modify or replace the general terms described in this section.

This summary and any description of debt securities in the applicable prospectus supplement, information incorporated by reference or free writing prospectus is subject to and is qualified in its entirety by reference to all the provisions of any specific debt securities document or agreement. We will file each of these documents, as applicable, with the SEC and incorporate them by reference as an exhibit to the registration statement of which this prospectus is a part on or before the time we issue a series of warrants. See "Where You Can Find Additional Information" and "Incorporation of Documents by Reference" above for information on how to obtain a copy of a warrant document when it is filed.

When we refer to a series of debt securities, we mean all debt securities issued as part of the same series under the applicable indenture.

<u>Terms</u>. The applicable prospectus supplement, information incorporated by reference or free writing prospectus, may describe the terms of any debt securities that we may offer, including, but not limited to, the following:

● The title of the debt securities;

● The total amount of the debt securities;

● The amount or amounts of the debt securities will be issued and interest rate;

● The conversion price at which the debt securities may be converted;

● The date on which the right to exercise the debt securities will commence and the date on which the right will expire;

● If applicable, the minimum or maximum amount of debt securities that may be exercised at any one time;

● If applicable, the designation and terms of the underlying securities with which the debt securities are issued and the amount of debt securities issued with each underlying security;

● If applicable, a discussion of material United States federal income tax consideration;

● If applicable, the terms of the payoff of the debt securities;

● The identity of the indenture agent, if any;

● The procedures and conditions relating to the exercise of the debt securities; and

● Any other terms of the debt securities, including terms, procedure and limitation relating to the exchange or exercise of the debt securities.

<u>Form, Exchange and Transfer</u>. We may issue the debt securities in registered form or bearer form. Debt securities issued in registered form, i.e., book-entry form, will be represented by a global security registered in the name of a depository, which will be the holder of all the debt securities represented by the global security. Those investors who own beneficial interests in global debt securities will do so through participants in the depository's system, and the rights of these indirect owners will be governed solely by the applicable procedures of the depository and its participants. In addition, we may issue warrants in non-global form, i.e., bearer form. If any debt securities are issued in non-global form, debt securities certificates may be exchanged for new warrant certificates of different denominations, and holders may exchange, transfer, or exercise their warrants at the warrant agent's office or any other office indicated in the applicable prospectus supplement, information incorporated by reference or free writing prospectus.

Prior to the exercise of their debt securities, holders of debt securities exercisable for shares of debt securities will not have any rights of holders of Class A Ordinary Shares, and will not be entitled to dividend payments, if any, or voting rights of the Class A Ordinary Shares.

<u>Conversion of Debt Securities</u>. A debt security may entitle the holder to purchase, in exchange for the extinguishment of debt, an amount of securities at an exercise price that will be stated in the debt security. Debt securities may be converted at any time up to the close of business on the expiration date set forth in the terms of such debt security. After the close of business on the expiration date, debt securities not exercised will be paid in accordance with their terms.

Debt securities may be converted as set forth in the applicable offering material. Upon receipt of a notice of conversion properly completed and duly executed at the corporate trust office of the indenture agent, if any, or to us, we will forward, as soon as practicable, the securities purchasable upon such exercise. If less than all of the debt security represented by such security is converted, a new debt security will be issued for the remaining debt security.

**Description of Warrants**

<u>General</u>. We may issue warrants to purchase Class A Ordinary Shares or debt securities or any combination thereof in the form of a units. We may issue the warrants independently or together with any underlying securities, and the warrants may be attached or separate from the underlying securities. We may also issue a series of warrants under a separate warrant agreement to be entered into between us and a warrant agent. The warrant agent will act solely as our agent in connection with the warrants of such series and will not assume any obligation or relationship of agency for or with holders or beneficial owners of warrants.

The following description is a summary of selected provisions relating to the warrants that we may issue. The summary is not complete. When warrants are offered in the future, a prospectus supplement, information incorporated by reference or a free writing prospectus, as applicable, will explain the particular terms of those securities and the extent to which these general provisions may apply. The specific terms of the warrants as described in a prospectus supplement, information incorporated by reference, or free writing prospectus will supplement and, if applicable, may modify or replace the general terms described in this section.

This summary and any description of warrants in the applicable prospectus supplement, information incorporated by reference or free writing prospectus is subject to and is qualified in its entirety by reference to all the provisions of any specific warrant document or agreement, if applicable. We will file each of these documents, as applicable, with the SEC and incorporate them by reference as an exhibit to the registration statement of which this prospectus is a part on or before the time we issue a series of warrants. See "Where You Can Find Additional Information" and "Incorporation of Documents by Reference" above for information on how to obtain a copy of a warrant document when it is filed.

When we refer to a series of warrants, we mean all warrants issued as part of the same series under the applicable warrant agreement.

<u>Terms</u>. The applicable prospectus supplement, information incorporated by reference or free writing prospectus, may describe the terms of any warrants that we may offer, including, but not limited to, the following:

● The title of the warrants;

● The total number of warrants;

● The price or prices at which the warrants will be issued;

● The price or prices at which the warrants may be exercised;

● The currency or currencies that investors may use to pay for the warrants;

● The date on which the right to exercise the warrants will commence and the date on which the right will expire;

● Whether the warrants will be issued in registered form or bearer form;

● Information with respect to book-entry procedures, if any;

● If applicable, the minimum or maximum amount of warrants that may be exercised at any one time;

● If applicable, the designation and terms of the underlying securities with which the warrants are issued and the number of warrants issued with each underlying security;

● If applicable, the date on and after which the warrants and the related underlying securities will be separately transferable;

● If applicable, a discussion of material United States federal income tax considerations;

● If applicable, the terms of redemption of the warrants;

● The identity of the warrant agent, if any;

● The procedures and conditions relating to the exercise of the warrants; and

● Any other terms of the warrants, including terms, procedures, and limitations relating to the exchange and exercise of the warrants.

<u>Warrant Agreement</u>. We may issue the warrants in one or more series under one or more warrant agreements, each to be entered into between us and a bank, trust company, or other financial institution as warrant agent. We may add, replace, or terminate warrant agents from time to time. We may also choose to act as our own warrant agent or may choose one of our subsidiaries to do so.

The warrant agent under a warrant agreement will act solely as our agent in connection with the warrants issued under that agreement. Any holder of warrants may, without the consent of any other person, enforce by appropriate legal action, on its own behalf, its right to exercise those warrants in accordance with their terms.

<u>Form, Exchange and Transfer</u>. We may issue the warrants in registered form or bearer form. Warrants issued in registered form, i.e., book-entry form, will be represented by a global security registered in the name of a depository, which will be the holder of all the warrants represented by the global security. Those investors who own beneficial interests in a global warrant will do so through participants in the depository's system, and the rights of these indirect owners will be governed solely by the applicable procedures of the depository and its participants. In addition, we may issue warrants in non-global form, i.e., bearer form. If any warrants are issued in non-global form, warrant certificates may be exchanged for new warrant certificates of different denominations, and holders may exchange, transfer, or exercise their warrants at the warrant agent's office or any other office indicated in the applicable prospectus supplement, information incorporated by reference or free writing prospectus.

Prior to the exercise of their warrants, holders of warrants exercisable for shares of Class A Ordinary Shares will not have any rights of holders of Class A Ordinary Shares and will not be entitled to dividend payments, if any, or voting rights of the Class A Ordinary Shares.

<u>Exercise of Warrants</u>. A warrant will entitle the holder to purchase for cash an amount of securities at an exercise price that will be stated in, or that will be determinable as described in, the applicable prospectus supplement, information incorporated by reference or free writing prospectus. Warrants may be exercised at any time up to the close of business on the expiration date set forth in the applicable offering material. After the close of business on the expiration date, unexercised warrants will become void. Warrants may be redeemed as set forth in the applicable offering material.

Warrants may be exercised as set forth in the applicable offering material. Upon receipt of payment and the warrant certificate properly completed and duly executed at the corporate trust office of the warrant agent or any other office indicated in the applicable offering material, we will forward, as soon as practicable, the securities purchasable upon such exercise. If less than all of the warrants represented by such warrant certificate are exercised, a new warrant certificate will be issued for the remaining warrants.

**Description of Units**

We may issue units composed of any combination of our Class A Ordinary Shares, warrants and debt securities. We will issue each unit so that the holder of the unit is also the holder of each security included in the unit. As a result, the holder of a unit will have the rights and obligations of a holder of each included security. The unit agreement under which a unit is issued may provide that the securities included in the unit may not be held or transferred separately, at any time or at any time before a specified date.

The following description is a summary of selected provisions relating to units that we may offer. The summary is not complete. When units are offered in the future, a prospectus supplement, information incorporated by reference or a free writing prospectus, as applicable, will explain the particular terms of those securities and the extent to which these general provisions may apply. The specific terms of the units as described in a prospectus supplement, information incorporated by reference, or free writing prospectus will supplement and, if applicable, may modify or replace the general terms described in this section.

This summary and any description of units in the applicable prospectus supplement, information incorporated by reference or free writing prospectus is subject to and is qualified in its entirety by reference to the unit agreement, collateral arrangements and depositary arrangements, if applicable. We will file each of these documents, as applicable, with the SEC and incorporate them by reference as an exhibit to the registration statement of which this prospectus is a part on or before the time we issue a series of units. See "Where You Can Find Additional Information" and "Incorporation of Documents by Reference" above for information on how to obtain a copy of a document when it is filed.

The applicable prospectus supplement, information incorporated by reference or free writing prospectus may describe:

● The designation and terms of the units and of the securities comprising the units, including whether and under what circumstances those securities may be held or transferred separately;

● Any provisions for the issuance, payment, settlement, transfer, or exchange of the units or of the securities composing the units;

● Whether the units will be issued in fully registered or global form; and

● Any other terms of the units.

The applicable provisions described in this section, as well as those described under "Our Memorandum and Articles of Association," "Description of Warrants," and "Description of Debt Securities" above, will apply to each unit and to each security included in each unit, respectively.

**ENFORCEABILITY OF CIVIL LIABILITIES**

We are incorporated under the laws of the Cayman Islands as an exempted company with limited liability. We are incorporated in the Cayman Islands to take advantage of certain benefits associated with being a Cayman Islands exempted company, such as:

● political and economic stability;

● an effective judicial system;

● a favorable tax system;

● the absence of exchange control or currency restrictions; and

● the availability of professional and support services.

However, certain disadvantages accompany incorporation in the Cayman Islands. These disadvantages include, but are not limited to:

● the Cayman Islands has a less developed body of securities laws as compared to the United States and these securities laws provide significantly less protection to investors as compared to the United States; and

● Cayman Islands companies may not have standing to sue before the federal courts of the United States.

Our constituent documents do not contain provisions requiring that disputes, including those arising under the securities laws of the United States, between us, our officers, directors and shareholders, be arbitrated.

Substantially all of our operations are conducted in Singapore, and substantially all of our assets are located in Singapore. A majority of our directors and officers are nationals or residents of jurisdictions other than the United States and most of their assets are located outside the United States. As a result, it may be difficult for a shareholder to effect service of process within the United States upon these individuals, or to bring an action against us or these individuals in the United States, or to enforce against us or them judgments obtained in United States courts, including judgments predicated upon the civil liability provisions of the securities laws of the United States or any state in the United States. See "Risk Factors – Risks Related to Our Class A Ordinary Shares and This Offering – You may face difficulties in protecting your interests as a shareholder, as Cayman Islands law provides substantially less protection when compared to the laws of the United States and it may be difficult for a shareholder of ours to effect service of process or to enforce judgements obtained in the U.S. courts."

We have appointed Cogency Global Inc., located at 122 East 42nd Street, 18th Floor, New York, NY 10168, as our agent upon whom process may be served in any action brought against us under the securities laws of the United States.

**Cayman Islands**

Harney Westwood & Riegels Singapore LLP, our counsel as to Cayman Islands law, has advised us that there is uncertainty as to whether the courts of the Cayman Islands will allow shareholders of our Company to originate actions in the Cayman Islands based upon securities laws of the United States. In addition, there is uncertainty regarding Cayman Islands law related to whether a judgment obtained from the U.S. courts under civil liability provisions of U.S. securities laws will be determined by the courts of the Cayman Islands as penal or punitive in nature. If such a determination is made, the courts of the Cayman Islands will not recognize or enforce the judgment against a Cayman Islands company, such as our Company. As the courts of the Cayman Islands have yet to rule on making such a determination in relation to judgments obtained from U.S. courts under civil liability provisions of U.S. securities laws, it is uncertain whether such judgments would be enforceable in the Cayman Islands. We have been further advised that although there is no statutory enforcement in the Cayman Islands of judgments obtained in the United States, a final and conclusive monetary judgment for a definite sum obtained in such jurisdiction will be recognized and enforced in the courts of the Cayman Islands at common law, without any re-examination of the merits of the underlying dispute, by an action commenced on the foreign judgment debt in the Grand Court of the Cayman Islands, provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the foreign court had jurisdiction in the matter and the Company either submitted to such jurisdiction or was resident or carrying on business within such jurisdiction and was duly served with process;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the judgment given by the foreign court was not in respect of penalties, fines, taxes or similar fiscal or revenue obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in obtaining judgment there was no fraud on the part of the person in whose favor judgment was given or on the part of the foreign court;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) recognition or enforcement in the Cayman Islands would not be contrary to public policy; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the proceedings pursuant to which judgment was obtained were not contrary to the principles of natural justice.

**Singapore**

There is uncertainty as to whether the courts of Singapore would (i) recognize or enforce judgments of United States courts obtained against us or our Directors or officers predicated upon the civil liability provisions of the securities laws of the United States or any state in the United States or (ii) entertain original actions brought in Singapore against us or our directors or officers predicated upon the securities laws of the United States.

In making a determination as to enforceability of a judgment of the courts of the United States, and subject to the Singapore courts having jurisdiction over the judgment debtor, the Singapore courts would have regard to whether the judgment was final and conclusive and on the merits of the case, given by a court of law of competent jurisdiction, and was expressed to be for a fixed sum of money. In general, an in personam foreign judgment that is final and conclusive (that is, in general, a judgment that makes a final determination of rights between the parties and cannot be re-opened or altered by the court that delivered it, or be overridden by another body not being an appellate or supervisory body, although it may be subject to an appeal), given by a competent court of law having jurisdiction over the parties subject to such judgment, and for a fixed and ascertainable sum of money, may be enforceable as a debt in the Singapore courts under common law unless procured by fraud, or the proceedings in which such judgments were obtained were not conducted in accordance with principles of natural justice, or the enforcement thereof would be contrary to fundamental public policy, or if the judgment would conflict with earlier judgment(s) from Singapore or earlier foreign judgment(s) recognized in Singapore, or if the judgment would amount to the direct or indirect enforcement of foreign penal, revenue or other public laws (save where any such component of the judgment can be duly severed from the rest of the judgment sought to be enforced). Civil liability provisions of the federal and state securities law of the United States permit the award of punitive damages against us, our Directors and officers. The Singapore courts do not allow the enforcement of foreign judgments which amount to the direct or indirect enforcement of foreign penal, revenue or other public laws. It is uncertain as to whether a judgment of the courts of the United States awarding punitive damages would be regarded by the Singapore courts as being pursuant to foreign, penal, revenue or other public laws. Such determination has yet to be conclusively made by a Singapore court in a reported decision.

**LEGAL MATTERS**

The validity of our Class A Ordinary Shares being offered hereby will be passed upon by Harney Westwood & Riegels Singapore LLP,, our counsel as to the Cayman Islands laws. Certain legal matters in connection with the U.S. federal laws have been passed upon for the Company by Loeb & Loeb LLP, New York, New York. Additional legal matters may be passed upon for us or any underwriters, dealers or agents, by counsel that we will name in the applicable prospectus supplement.

**EXPERTS**

The consolidated balance sheets of the Company and its subsidiaries as of June 30, 2024 and the related consolidated statements of operation and comprehensive income, changes in shareholders' equity, and cash flows for the year then ended have been audited by JWF Assurance PAC, an independent registered public accounting firm, as stated in their report which is incorporated herein by reference to the Company's annual report on Form 20-F/A for the year ended June 30, 2024.

The consolidated balance sheets of the Company and its subsidiaries as of June 30, 2023 related consolidated statements of operation and comprehensive income (loss), changes in stockholders' equity, and cash flows for the year then ended have been audited by Simon & Edward, LLP, an independent registered public accounting firm, as stated in their report which is incorporated herein by reference to the Company's annual report on Form 20-F/A for the year ended June 30, 2024.

**WHERE YOU CAN FIND ADDITIONAL INFORMATION**

This prospectus constitutes a part of a registration statement on Form F-3 filed under the Securities Act. As permitted by the SEC's rules, this prospectus and any prospectus supplement, which form a part of the registration statement, do not contain all the information that is included in the registration statement. You will find additional information about us in the registration statement. Any statements made in this prospectus or any prospectus supplement concerning legal documents are not necessarily complete and you should read the documents that are filed as exhibits to the registration statement or otherwise filed with the SEC for a more complete understanding of the document or matter.

You may read and copy the registration statement, as well as our reports, proxy statements, and other information, at the SEC's Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for more information about the operation of the Public Reference Room. The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The SEC's Internet site can be found at http://www.sec.gov. You can also obtain copies of materials we file with the SEC from our website found at https://manadr.com/. Information on our website does not constitute a part of, nor is it incorporated in any way, into this prospectus and should not be relied upon in connection with making an investment decision.

**MOBILE-HEALTH NETWORK SOLUTIONS**

**$300,000,000**

**Class A Ordinary Shares**

**Debt Securities**

**Warrants**

**Units**

**PROSPECTUS**

**[ ], 2025**

**We have not authorized any dealer, salesperson or other person to give any information or represent anything not contained in or incorporated by reference into this prospectus. You must not rely on any unauthorized information. If anyone provides you with different or inconsistent information, you should not rely on it. This prospectus does not offer to sell any shares in any jurisdiction where it is unlawful. Neither the delivery of this prospectus, nor any sale made hereunder, shall create any implication that the information in this prospectus is correct after the date hereof.**

**The information in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.**

PRELIMINARY PROSPECTUS SUBJECT TO COMPLETION, DATED JULY 16, 2025

**PROSPECTUS**

![](formf-3_001.jpg)

**Mobile-health Network Solutions**

**Up to $300,000,000 of Class A Ordinary Shares** 

We have entered into a sales agreement (the "Sales Agreement") with A.G.P./Alliance Global Partners (the "Sales Agent" or "AGP"), pursuant to which we may, from time to time, issue and sell our Class A ordinary shares, par value US$0.000032 per share ("Class A Ordinary Shares"), covered by this prospectus supplement and accompanying prospectus from time to time through or to the Sales Agent, acting as our agent or principal.

An At-the-Market ("ATM") program will allow us to raise capital by selling Class A Ordinary Shares in open market transactions at our discretion. Unlike in underwritten public offerings, sales under ATM programs are not marketed, they are made at prevailing market prices, and they are generally less dilutive to shareholders than marketed offerings that generate the same net proceeds because (i) they are typically less expensive to transact than marketed offerings and (ii) they can be executed without a discount to the prevailing market price of the stock that is typical in marketed offerings. Our Board of Directors (the "Board") has concluded that, at this time, it is in our best interest to have an ATM program available and to be used at our discretion for capital raising, since it enables us to determine the timing, quantity, and pricing of sales. Under the Sales Agreement, we will not be obligated to sell any shares, but we may issue and sell Class A Ordinary Shares having an aggregate gross sales price of up to $300,000,000 through the Sales Agent.

Our Class A Ordinary Shares are listed on The Nasdaq Capital Market ("Nasdaq") under the symbol "MNDR." On July 9, 2025, the last reported sales price of our Class A Ordinary Shares was $1.131 per share.

The aggregate market value of the outstanding Class A Ordinary Shares held by non-affiliates is $3,761,845 based on 4,072,128 outstanding Class A Ordinary Shares, of which 746,005 shares are held by affiliates, and a per share price of $1.131 based on the closing sale price of the Class A Ordinary Shares on July 9, 2025. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell Class A Ordinary Shares in a public primary offering with a value exceeding one-third of our public float in any 12-month period so long as our public float remains below $75,000,000. We have not offered any securities pursuant to General Instruction I.B.6. of Form S-3 during the prior 12 calendar month period that ends on and includes the date of this prospectus.

Class A Ordinary Shares covered by this prospectus may be sold by any method deemed to be an "at-the-market offering" as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended (the "Securities Act"). If authorized by us in writing, the Sales Agent may also sell shares of our Class A Ordinary Shares in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices and/or by any other method permitted by law. If we and the Sales Agent agree on any method of distribution other than sales of shares of our Class A Ordinary Shares on or through Nasdaq or another existing trading market in the United States at market prices, we will file a further prospectus supplement providing all information about such offering as required by Rule 424(b) under the Securities Act. The Sales Agent is not required to sell any specific number or dollar amount of securities but, when it receives a sale order from us, the Sales Agent has agreed to use commercially reasonable efforts consistent with normal trading and sales practices to execute the order on mutually agreed terms. There is no arrangement for funds to be received in any escrow, trust, or similar arrangement.

The compensation payable to the Sales Agent for sales of Class A Ordinary Shares sold pursuant to the Sales Agreement will be 3.0% of the gross proceeds of the sales price of Class A Ordinary Shares sold, in addition to reimbursement of certain expenses. See "*Plan of Distribution*." We anticipate no other commissions or material expenses for sales under the Sales Agreement. The orders will be executed at price limits imposed by us.

Even though this prospectus does not relate to a marketed offering of Class A Ordinary Shares, in connection with the sale of Class A Ordinary Shares under the Sales Agreement, the Sales Agent will be deemed to be an "underwriter" within the meaning of the Securities Act, and the compensation of the Sales Agent will be deemed to be underwriting commissions or discounts. We have agreed to indemnify the Sales Agent against certain civil liabilities, including liabilities under the Securities Act. See the section titled "Plan of Distribution" on page S-11 of this prospectus.

We are both an "emerging growth company" and a "foreign private issuer" as defined under the applicable U.S. federal securities laws and, as such, may elect to comply with certain reduced public company reporting requirements for this and future filings. See "Implications of Being an Emerging Growth Company" and "Implications of Being a Foreign Private Issuer."

**INVESTING IN OUR SECURITIES INVOLVES RISKS. SEE THE "RISK FACTORS" BEGINNING ON PAGE S-4 OF THIS PROSPECTUS AND IN THE DOCUMENTS INCORPORATED BY REFERENCE IN THIS PROSPECTUS CONCERNING FACTORS YOU SHOULD CONSIDER BEFORE INVESTING IN OUR CLASS A ORDINARY SHARES.**

**Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.**

**A.G.P.**

The date of this prospectus supplement is , 2025.

**TABLE OF CONTENTS**

**PROSPECTUS SUPPLEMENT**

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| | |
|:---|:---|
|  | **Page** |
| [ABOUT THIS PROSPECTUS SUPPLEMENT](#S_001) | S-1 |
| [PROSPECTUS SUMMARY](#S_002) | S-2 |
| [THE OFFERING](#S_003) | S-4 |
| [RISK FACTORS](#S_004) | S-4 |
| [CAUTIONARY NOTE ABOUT FORWARD-LOOKING STATEMENTS](#S_005) | S-11 |
| [USE OF PROCEEDS](#S_006) | S-11 |
| [PLAN OF DISTRIBUTION](#S_007) | S-11 |
| [LEGAL MATTERS](#S_008) | S-13 |
| [EXPERTS](#S_009) | S-13 |
| [WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY REFERENCE](#S_010) | S-13 |

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**ABOUT THIS PROSPECTUS SUPPLEMENT**

This prospectus supplement and the accompanying prospectus are part of a registration statement on Form S-3 that we filed with the Securities and Exchange Commission (the "SEC" or the "Commission") utilizing a "shelf" registration process on July 16, 2025. Under the shelf registration process, we may offer Class A Ordinary Shares from time to time at prices and on terms to be determined by market conditions at the time of offering, and, specifically, up to $300,000,000 under this prospectus supplement. This prospectus supplement and the documents incorporated herein by reference include important information about us, the shares being offered, and other information you should know before investing in the Class A Ordinary Shares.

This prospectus supplement describes the specific terms of the Class A Ordinary Shares we are offering and also adds to, and updates information contained in the accompanying prospectus and the documents incorporated by reference into this prospectus supplement. To the extent there is a conflict between the information contained in this prospectus supplement, on the one hand, and the information contained in the accompanying prospectus or any document incorporated by reference into this prospectus supplement that was filed with the SEC before the date of this prospectus supplement, on the other hand, you should rely on the information in this prospectus supplement. If any statement in one of these documents is inconsistent with a statement in another document having a later date — for example, a document incorporated by reference into this prospectus supplement — the statement in the document having the later date modifies or supersedes the earlier statement.

You should rely only on the information contained in this prospectus supplement and the information incorporated or deemed to be incorporated by reference in this prospectus supplement and in any free writing prospectus that we may authorize for use in connection with this offering. We have not, and the Sales Agent has not, authorized anyone to provide you with information that is in addition to or different from that contained or incorporated by reference in this prospectus supplement. If anyone provides you with different or inconsistent information, you should not rely on it. We are not, and the Sales Agent is not, offering to sell these securities in any jurisdiction where the offer or sale is not permitted. You should not assume that the information contained or incorporated by reference in this prospectus is accurate as of any date other than the date of this prospectus or in the case of the documents incorporated by reference, the date of such documents regardless of the time of delivery of this prospectus or any sale of the Class A Ordinary Shares. Our business, financial condition, liquidity, results of operations, and prospects may have changed since those dates.

You should read this prospectus supplement, and the documents incorporated by reference into this prospectus supplement and in any free writing prospectus that we may authorize for use in connection with this offering, in their entirety before making an investment decision. You should also read and consider the information in the documents to which we have referred you in the sections of this prospectus entitled "Where You Can Find More Information; Incorporation by Reference."

We are offering to sell, and seeking offers to buy, Class A Ordinary Shares only in jurisdictions where offers and sales are permitted. The distribution of this prospectus supplement and the offering of the Class A Ordinary Shares in certain jurisdictions may be restricted by law. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to the offering of the Class A Ordinary Shares and the distribution of this prospectus outside the United States. This prospectus does not constitute, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy, any securities offered by this prospectus by any person in any jurisdiction in which it is unlawful for such person to make such an offer or solicitation.

We further note that the representations, warranties and covenants made by us in any agreement that is filed as an exhibit to any document that is incorporated by reference into the prospectus and accompanying prospectus were made solely for the benefit of the parties to such agreement, including, in some cases, for the purpose of allocating risk among the parties to such agreement, and should not be deemed to be a representation, warranty or covenant to you. Moreover, such representations, warranties or covenants were accurate only as of the date when made. Accordingly, such representations, warranties and covenants should not be relied on as accurately representing the current state of our affairs.

As used in this prospectus, unless the context otherwise requires, the terms "MNDR," "Company," "we," "us," or "our" refer to Mobile-health Network Solutions and its subsidiaries. When we refer to "you," we mean the holders of the applicable series of securities.

**PROSPECTUS SUMMARY**

*This summary highlights selected information that is presented in greater detail elsewhere, or incorporated by reference, in this prospectus. It does not contain all of the information that may be important to you and your investment decision. Before investing in our securities, you should carefully read this entire prospectus, including the matters set forth in the section titled "Risk Factors" and the financial statements and related notes and other information that we incorporate by reference herein, including our Annual Report on Form 20-F.*

**Business Overview**

We are a leading telehealth solutions provider in Singapore in terms of various matrices, such as the number of patient consultations per day and the ranking of our mobile application. We provide our services on our MaNaDr platform, which is accessible via our mobile application and website. We seek to build a 360-degree holistic healthcare ecosystem supported by a global community of healthcare providers, with the mission to make healthcare simple and seamless, instantaneous, affordable and available to the masses. We serve both the community of users, by offering personalized and reliable medical attention to users worldwide, as well as the community of healthcare providers, by allowing them to have a broader reach to users through virtual clinics without any start-up costs and the ability to connect to a global network of peer-to-peer support groups and partners.

**Corporate Information**

Our principal executive offices are located at 2 Venture Drive, #07-06/07 Vision Exchange, Singapore 608526. Our telephone number at this address is +65 6222 5223. Our registered office in the Cayman Islands is located at Harneys Fiduciary (Cayman) Limited, 4th Floor, Harbour Place, 103 South Church Street, PO Box 10240, Grand Cayman, KY1-1002, Cayman Islands. Our agent for service of process in the United States is Cogency Global Inc., located at 122 East 42nd Street, 18th Floor, New York, NY 10168.

Investors should submit any inquiries to the address and telephone number of our principal executive offices. We maintain a corporate website at https://manadr.com/. The information contained in, or accessible from, our website or any other website does not constitute a part of this prospectus.

The SEC maintains a website at www.sec.gov that contains reports, proxy, and information statements, and other information regarding issuers that file electronically with the SEC using its EDGAR system.

**Implications Of Being An Emerging Growth Company**

As a company with less than US$1.235 billion in revenue for our last fiscal year, we qualify as an "emerging growth company" pursuant to the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. An emerging growth company may take advantage of specified reduced reporting and other requirements compared to those that are otherwise applicable generally to public companies. These provisions include exemption from the auditor attestation requirement under Section 404 of the Sarbanes-Oxley Act of 2002 in the assessment of the emerging growth company's internal control over financial reporting. The JOBS Act also provides that an emerging growth company does not need to comply with any new or revised financial accounting standards until such date that a private company is otherwise required to comply with such new or revised accounting standards.

We will remain an emerging growth company until the earliest of (a) the last day of the fiscal year during which we have total annual gross revenue of at least US$1.235 billion; (b) the last day of our fiscal year following the fifth anniversary of the completion of our initial public offering; (c) the date on which we have, during the preceding three-year period, issued more than US$1.0 billion in non-convertible debt; or (d) the date on which we are deemed to be a "large accelerated filer" under the Exchange Act, which would occur if the market value of the Class A Ordinary Shares that are held by non-affiliates exceeds US$700 million as of the last business day of our most recently completed second fiscal quarter. Once we cease to be an emerging growth company, we will not be entitled to the exemptions provided in the JOBS Act discussed above.

**Implications Of Being A Foreign Private Issuer**

We are considered a "foreign private issuer" within the meaning of the rules under the Securities Exchange Act of 1934 (as amended, the "Exchange Act"). As such, we are exempt from certain provisions applicable to United States domestic public companies. For example:

● we are not required to provide as many Exchange Act reports, or as frequently, as a domestic public company;

● for interim reporting, we are permitted to comply solely with our home country requirements, which are less rigorous than the rules that apply to domestic public companies;

● we are not required to provide the same level of disclosure on certain issues, such as executive compensation;

● we are exempt from provisions of Regulation FD aimed at preventing issuers from making selective disclosures of material information;

● we are not required to comply with the sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations in respect of a security registered under the Exchange Act; and

● we are not required to comply with Section 16 of the Exchange Act requiring insiders to file public reports of their share ownership and trading activities and establishing insider liability for profits realized from any "short-swing" trading transaction.

**THE OFFERING**

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| | |
|:---|:---|
| **Class A Ordinary Shares offered by us** | Class A Ordinary Shares having an aggregate offering price of up to $300,000,000. |
| **Class A Ordinary Shares outstanding after this offering** | Up to 269,324,117 Class A Ordinary Share, assuming sales of 265,251,989 Class A Ordinary Shares in this offering at an offering price of $1.131 per share, which was the last reported sale price of the Class A Ordinary Shares on the Nasdaq Capital Market on July 9, 2025. The actual number of shares issued will vary depending on how many shares we choose to sell and the sales price under this offering. |
| **Plan of Distribution** | "At-the-market offering" that may be made from time to time on the Nasdaq Capital Market or other existing trading market for the Class A Ordinary Shares through the Sales Agent, acting as sales agent or principal. See the section entitled "Plan of Distribution" on page S-11 of this prospectus. |
| **Use of Proceeds** | We intend to use the net proceeds from this offering for capital expenditure, sales and marketing activities, and working capital and general corporate purposes. We have not determined the amount of net proceeds to be used specifically for such purposes. As a result, we will retain broad discretion over the allocation of net proceeds. See the section titled "Use of Proceeds" on page S-11 of this prospectus. |
| **Risk factors** | See "Risk Factors" beginning on page S-4 of this prospectus and the other information included in, or incorporated by reference into, this prospectus for a discussion of certain factors you should carefully consider before deciding to invest in our Class A Ordinary Shares. |
| **Nasdaq Capital Market symbol** | "MNDR" |

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The number of Class A Ordinary Shares to be outstanding after this offering is based on 4,072,128 Class A Ordinary Shares outstanding as of July 9, 2025.

**RISK FACTORS**

*Before purchasing any of the securities, you should carefully consider the risk factors relating to our Company described below and incorporated by reference in this prospectus from our Annual Report on Form 20-F for the year ended June 30, 2024, as well as the risks, uncertainties, and additional information set forth in other documents incorporated by reference in this prospectus. For a description of these reports and documents, and information about where you can find them, see "Where You Can Find More Information; Incorporation by Reference." Additional risks not presently known or that we presently consider to be immaterial could subsequently materially and adversely affect our financial condition, results of operations, business and prospects.*

**Risks Related to Our Business, Operations, Industry, Legal, and Regulatory Requirements**

***We may not be able to manage the growth of our business and operations or implement our business strategies on schedule or within our budget, or at all.***

Our business has become increasingly complex in terms of both the type and scale of business we operate. Any expansion may increase the complexity of our operations and place a significant strain on our managerial, operational, financial and human resources. Our current and planned personnel, systems, procedures and controls may not be adequate to support our future operations. There can be no assurance that we will be able to effectively manage our growth or implement all these systems, procedures and control measures successfully. If we are not able to manage our growth effectively, our business, financial condition, results of operations and prospects may be materially and adversely affected.

As part of our business strategies, we expect to further expand our business to new jurisdictions, which may expose us to additional risks, including, among other things:

● difficulties with managing operations into new geographical regions, including complying with the various regulatory and legal requirements of different jurisdictions;

● different approval or licensing requirements;

● recruiting sufficient personnel in these new markets;

● challenges in providing services and products as well as support in these new markets;

● challenges in attracting business partners and users and remaining competitive;

● potential adverse tax consequences;

● foreign exchange losses;

● limited protection for intellectual property rights;

● inability to effectively enforce contractual or legal rights; and

● local political, regulatory and economic instability or civil unrest.

If we are unable to effectively avoid or mitigate these risks, our ability to expand our business to these new jurisdictions will be affected, which could have a material adverse effect on our business, financial condition, results of operations and prospects.

The anticipated benefits from these efforts are based on assumptions that may prove to be inaccurate. Moreover, we may not be able to successfully complete these growth initiatives, strategies and operating plans and realize all of the benefits that we expect to achieve or it may be more costly to do so than we anticipate. If, for any reason, the benefits we realize are less than our estimates or the implementation of these growth initiatives, strategies and operating plans adversely affect our operations or cost more or take longer to effectuate than we expect, or if our assumptions prove inaccurate, our business, financial condition, results of operations and prospects may be materially and adversely affected.

***We may not be able to develop our existing technology infrastructure or recoup the investments we have made for such development, and failure to continue to innovate or adapt to industry changes may materially and adversely affect our business, financial condition, results of operations and prospects.***

The telehealth solutions industry is characterized by rapidly changing technology, evolving industry standards and regulatory requirements, introduction of new services and products as well as changing user demands. We are also subject to other changes and developments in the telehealth solutions, Internet and healthcare industries and other industries in which we operate. These changes and developments may require us to continue to innovate, and failure to do so would have a material adverse effect on our business, financial condition, results of operations and prospects.

We may need to constantly upgrade our technology infrastructure to provide increased scale, improved performance and additional built-in functionality of our mobile application and website, and to keep pace with our business development, which may require significant investments in time and resources, including adding new hardware, updating software and recruiting and training new engineering personnel. Failure to improve our technology infrastructure accordingly may materially affect our ability to adopt new services and products, and could result in unanticipated system disruptions, slower response times and impaired quality of our users' and other participants' experiences, which may, in turn, materially and adversely affect our business, financial condition, results of operations and prospects.

While we have been enhancing our technological capabilities and developing a number of technologies to support our ecosystem, if we experience problems with the functionality and effectiveness of our technologies in the course of development, or if we are unable to continually improve our technologies to handle our business needs as expected, our business, financial condition, results of operations and prospects could be materially and adversely affected.

Furthermore, we have invested, and are expected to continually invest, significant amounts in upgrading our technological infrastructure and developing our technologies. We are likely to recognize costs associated with these investments earlier than some of the anticipated benefits and the return on these investments may be lower, or may develop more slowly, than we expected. We may not be able to recover our capital expenditures or investments, in part or in full, or the recovery of these capital expenditures or investments may take longer than expected. As a result, the carrying value of the related assets may be subject to an impairment charge, which may materially and adversely affect our business, financial condition, results of operations and prospects.

***Any lack of requisite approvals, licenses or permits applicable to our business may have a material and adverse effect on our business, financial condition, results of operations and prospects.***

Our business is subject to governmental supervision and regulation by various governmental and regulatory authorities in Singapore, including but not limited to, the Ministry of Health, the Health Sciences Authority and the Singapore Medical Council, and in other jurisdictions where we conduct our business operations. Such government authorities, statutory boards, agencies and bodies promulgate and enforce laws and regulations that cover a variety of business activities that our operations relate to, such as the provision of medical services online, retail, sales and online operation of pharmaceutical products and medical devices, and software development, among other things. These regulations in general regulate the entry into, the permitted scope of, as well as approvals, licenses and permits for, the relevant business activities. Due to uncertainties in the regulatory environment of the industries and/or jurisdictions in which we operate, there can be no assurance that we have obtained or applied for all the approvals, permits and licenses required for conducting our business in Singapore or elsewhere, or would be able to maintain our existing approvals, permits and licenses or obtain any new approvals, permits and licenses if required by any future laws or regulations. If we fail to obtain and maintain the necessary approvals, licenses or permits required for our business, we could be subject to liabilities, penalties and operational disruption and our business, financial condition, results of operations and prospects could be materially and adversely affected.

***Our business generates and processes a large amount of data, and the improper use or disclosure of such data could harm our reputation as well as have a material adverse effect on our business and prospects.***

Our platform generates and processes a large amount of personal, transaction, demographic and behavioral data. Sensitive user information in our business operations is stored in third party datacenters. Such information includes, but is not limited to, personal information (such as users' name, cell phone number, delivery address, age and gender, consultation record, order record and activity log). We have kept all sensitive user information in our database such as order records and consultation records since inception. We face risks inherent in handling large volumes of data and in securing and protecting such data. In particular, we face a number of data-related challenges from consultations, transactions and other activities on our platform, including:

● protecting the data in and hosted on our system, including against attacks on our system by external parties or improper behavior by our employees;

● addressing concerns related to privacy and sharing, safety, security and other factors; and

● complying with applicable laws, rules and regulations relating to the collection, use, disclosure or security of personal information, including any requests from regulatory and government authorities relating to such data.

Any systems failure or security breach or lapse that results in the unauthorized release of our user data could harm our reputation and brand and, consequently, our business, in addition to exposing us to potential legal liability.

Our terms of service concerning the collection, use and disclosure of user data are posted on our MaNaDr mobile application and website. Any failure, or perceived failure, by us to comply with our privacy policies or any applicable regulatory requirements or privacy protection-related laws, rules and regulations could result in proceedings or actions against us by governmental or regulatory authorities or others. These proceedings or actions may subject us to significant penalties and negative publicity, require us to change our business model or practices, increase our costs and disrupt our business. As we expand our operations, we may be subject to additional laws in other jurisdictions where our users and business partners of our ecosystem are located. The laws, rules and regulations of other jurisdictions may impose on us more stringent or conflicting requirements with financial penalties for non-compliance higher than those in Singapore, and the compliance with such requirements could require significant resources and result in substantial costs, which may materially and adversely affect our business, financial condition, results of operations and prospects.

***We are subject to credit risk with respect to trade receivables.***

We generally allow a credit period of 30 days to our customers, in particular other clinics that purchase medicine from us. As of June 30, 2024 and 2023, our trade receivables turnover days were 4 days and 7 days, respectively. As of the same dates, trade receivables of approximately US$29,000 and US$30,000, respectively, were past due but not impaired. These mainly relate to a number of customers whom there is no significant financial difficulty for and, based on our past experience, the overdue amounts can be recovered from. Nevertheless, there can be no assurance that all such amounts due to us will be settled on time, or that such amounts will not continue to increase in the future. Accordingly, we face credit risk in collecting trade receivables due from customers. Our performance, liquidity and profitability would be adversely affected if significant amounts due to us are not settled on time or substantial impairment is incurred. The bankruptcy or deterioration of the credit condition of any of these customers could also materially and adversely affect our business, financial condition, results of operations and prospects.

***We are subject to extensive and evolving regulatory requirements, non-compliance with which, or changes in which, may materially and adversely affect our business and prospects.***

Many of our business operations are highly regulated. See "Item 4. Information on the Company — B. Business Overview — Regulations." Our business is subject to laws, regulations, licensing and accreditation requirements in Singapore and other countries where we may operate. Such laws, regulations, licensing and accreditation requirements cover many aspects of our business, including, but not limited to:

● the conduct of our operations;

● the provision of services;

● the quality of medical facilities, equipment and services;

● the purchase and sale of medications and pharmaceutical drugs;

● the handling and disposal of regulated items and associated environmental regulations for medical facilities;

● the qualifications of medical and other clinical personnel; and

● the confidentiality and maintenance of, and security issues associated with, health-related information and medical records.

The qualifications and practicing activities of our medical professionals, nurses and assistants are strictly regulated under the laws and regulations of the jurisdictions in which we may operate, as well as by other applicable codes of professional conduct or ethics. If our medical professionals and nurses fail to comply with their professional licensing requirements, we may be subject to administrative penalties including fines, loss of licenses or restrictions on our medical facility operations, which could materially and adversely affect our business and reputation.

In addition, there are various licensing requirements governing different aspects of our business with which we must comply and which may impose conditions that may restrict our operations. Regulatory authorities may exercise broad discretion in assessing our compliance with licensing requirements, varying licensing requirements or introducing new licensing requirements, and we may incur significant costs and suffer operational restrictions that could be harmful to our business.

Our pharmaceutical services business is also regulated by various healthcare laws and regulations and we are subject to, among others, licensing and certification requirements, product registration requirements, quality and safety standards and periodic renewal and reassessment procedures. For example, we are required to possess various permits, licenses or certifications to provide our services and products, and the third parties on whom we rely to sell and distribute our products are subject to similar requirements. If we or these third parties are unable to obtain or renew such permits, licenses or certifications in a timely manner, or at all, we and/or such third parties may not be able to provide the relevant services and/or sell or distribute the relevant products in the relevant jurisdiction and our business operations in such jurisdiction may be materially disrupted. As a licensed wholesaler of pharmaceutical products, we are required by the relevant laws and regulations to only supply such products to certain specified persons, such as licensed retail pharmacies, licensed healthcare institutions and qualified healthcare professionals. While we have implemented measures to prevent unauthorized persons from purchasing pharmaceutical products from us (for example, we require persons who wish to open a purchasing account with us to provide us with copies of the relevant licenses to establish that they are registered healthcare professionals and we only deliver to the address of the account holder), there is a risk that unauthorized persons may nevertheless, fraudulently or otherwise, manage to create a purchasing account with us and/or acquire pharmaceutical products from us. In such an event, we may be exposed to civil and criminal liability under the relevant laws and regulations.

Furthermore, the introduction of new services and products may require us to comply with additional, yet undetermined, laws and regulations. Compliance may require obtaining appropriate permits, licenses or certificates as well as expending additional resources to monitor developments in the relevant regulatory environment. The failure to adequately comply with these future laws and regulations may delay, or possibly prevent, some of our products or services from being offered to users, which may have a material adverse effect on our business, financial condition, results of operations and prospects.

Changes to existing laws, regulations and guidelines, or the introduction of new laws, regulations and guidelines could also have a negative impact on our operations, even if such laws and regulations are not directly applicable to us. Should there be any subsequent modifications, additions or new restrictions to the current compliance standards, we may incur additional costs or administrative burdens in complying with the new or modified standards which may materially and adversely affect our profitability and, consequently, our business, financial condition, results of operations and prospects.

***As we expand our international operations, we will increasingly face political, legal and compliance, operational, regulatory, economic and other risks that we do not face or are more significant than in our domestic operations. Our exposure to these risks is expected to increase.***

As we expand our international operations, we will increasingly face political, legal and compliance, operational, regulatory, economic and other risks that we do not face or that are more significant than in our domestic operations. These risks vary widely by country and include varying regional and geopolitical business conditions and demands, government intervention and censorship, discriminatory regulation, nationalization or expropriation of assets and pricing constraints. Our international services and products need to meet country-specific user preferences as well as country-specific legal requirements, including those related to licensing, digital health, privacy, data storage, location, protection and security. Our ability to conduct digital health services internationally is subject to the applicable laws governing remote healthcare and the practice of medicine in such location, and the interpretation of these laws is evolving and vary significantly from country to county and are enforced by governmental, judicial and regulatory authorities with broad discretion. Nonetheless, we cannot be certain that our interpretation of such laws and regulations is correct in how we structure our operations, our arrangements with physicians, services agreements and customer arrangements.

Our business may also be affected by macroeconomic factors, such as general economic conditions, level and volatility of economic growth, inflation, exchange rates, adverse market sentiment and consumer confidence in the jurisdictions we operate in, trade tensions, social and political unrest, and regulatory, fiscal and other governmental policies, all of which are beyond our control. In particular, we are exposed to the risks of global trade wars and tariffs, which could disrupt the international trade flows and supply chains that are essential for our operations. Trade wars and tariffs could result in higher costs, lower demand, reduced market access, increased uncertainty, and retaliatory measures for products and services in various countries. Moreover, trade wars and tariffs could trigger or exacerbate geopolitical tensions, social unrest, and protectionist policies that could further undermine the stability and predictability of the global economic and regulatory environment. We cannot predict the outcome or duration of these trade conflicts or their impact on our business, financial condition, results of operations and prospects, which could be material and adverse.

Our international operations increase our exposure to, and require us to devote significant management resources to implement controls and systems to comply with the privacy and data protection laws of non-U.S. jurisdictions and the anti-bribery, anti-corruption and anti-money laundering laws of the U.S. (including the Foreign Corrupt Practices Act of 1977) and the United Kingdom (including the Bribery Act) and similar laws in other jurisdictions. Implementing our compliance policies, internal controls and other systems upon our expansion into new countries and geographies may require the investment of considerable management time and financial and other resources over a number of years before any significant revenues or profits are generated. Violations of these laws and regulations could result in fines, criminal sanctions against us, our officers or employees, restrictions or outright prohibitions on the conduct of our business and significant brand and reputational harm. We must regularly reassess the size, capability and location of our global infrastructure and make appropriate changes, and must have effective change management processes and internal controls in place to address changes in our business and operations.

Our success depends, in part, on our ability to anticipate these risks and manage these difficulties, and the failure to do so could have a material adverse effect on our business, operating results, financial position, brand, reputation and/or long-term growth. Our international operations require us to overcome logistical and other challenges based on differing languages, cultures, legal and regulatory schemes and time zones. Our international operations encounter labor laws, customs and employee relationships that can be difficult, less flexible than in our domestic operations and expensive to modify or terminate. In some countries where we are required to, or choose to, operate with local business partners in the future, this may require us to manage our partner relationships and may reduce our operational flexibility and ability to quickly respond to business challenges.

**Risks Relating to this Offering**

***We may allocate the net proceeds from this offering in ways that you and other shareholders may not approve.***

We currently intend to use the net proceeds of this offering, if any, for capital expenditure, sales and marketing activities, and working capital and general corporate purposes. This expected use of the net proceeds from this offering represents our intentions based on our current plans and business conditions. The amounts and timing of our actual expenditures may vary significantly depending on numerous factors. Because of the number and variability of factors that will determine our use of the proceeds from this offering, their ultimate use may vary substantially from their currently intended use. As a result, our management will retain broad discretion over the allocation of the net proceeds from this offering and could spend the proceeds in ways that do not necessarily improve our operating results or enhance the value of the Class A Ordinary Shares. See "Use of Proceeds."

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***The sale of the Class A Ordinary Shares in this offering and any future sales of the Class A Ordinary Shares may depress our stock price and our ability to raise funds in new stock offerings.***

We may issue Class A Ordinary Shares from time to time in connection with this offering. This issuance from time to time of these new Class A Ordinary Shares, or our ability to issue these Class A Ordinary Shares in this offering, could result in resales of the Class A Ordinary Shares by our current shareholders concerned about the potential dilution of their holdings. In addition, sales of the Class A Ordinary Shares on the public market following this offering could lower the market price of the Class A Ordinary Shares. Sales may also make it more difficult for us to sell equity securities or equity-related securities in the future at a time and price that our management deems acceptable, or at all. We cannot predict the number of these shares that might be resold or the effect that future sales of Class A Ordinary Shares would have on the market price of the Class A Ordinary Shares.

***We plan to sell shares of the Class A Ordinary Shares in "at-the-market offerings" and investors who buy Class A Ordinary Shares at different times will likely pay different prices.***

Investors who purchase Class A Ordinary Shares in this offering at different times will likely pay different prices and may experience different outcomes in their investment results. We will have discretion, subject to the effect of market conditions, to vary the timing, price, and number of shares sold in this offering. Investors may experience a decline in the value of their Class A Ordinary Shares. The trading price of the Class A Ordinary Shares has been volatile and subject to wide fluctuations. Many factors could have an impact on the market price of the Class A Ordinary Shares, including the factors described above and in the accompanying prospectus and those incorporated by reference herein and therein.

***We cannot predict the actual number of Class A Ordinary Shares that we will sell under the Sales Agreement, or the gross proceeds resulting from those sales.***

Subject to certain limitations in the Sales Agreement and compliance with applicable law, we will have the discretion to deliver a placement notice to the Sales Agent at any time during the term of the Sales Agreement. The number of Class A Ordinary Shares that are sold through the Sales Agent will fluctuate based on a number of factors, including the market price of the Class A Ordinary Shares during the sales period, the limits we set with the Sales Agent in any applicable placement notice, and the demand for the Class A Ordinary Shares during the sales period. Because the price per share of each share sold will fluctuate during the sales period, it is not possible to predict the number of shares that will be sold or the gross proceeds we will raise in connection with those sales.

***Sales of a significant number of Class A Ordinary Shares in the public markets, or the perception that such sales could occur, could depress the market price of the Class A Ordinary Shares.***

Sales of a significant number of Class A Ordinary Shares in the public markets, or the perception that such sales could occur as a result of our utilization of our shelf registration statement, our Sales Agreement with the Sales Agent or otherwise could depress the market price of the Class A Ordinary Shares and impair our ability to raise capital through the sale of additional equity securities. We cannot predict the effect that future sales of Class A Ordinary Shares or the market perception that we are permitted to sell a significant number of our securities would have on the market price of the Class A Ordinary Shares.

***We are an emerging growth company within the meaning of the Securities Act and may take advantage of certain reduced reporting requirements.***

We are an "emerging growth company", as defined in the JOBS Act, and we may take advantage of certain exemptions from various requirements applicable to other public companies that are not emerging growth companies including, most significantly, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act for so long as we are an emerging growth company. As a result, if we elect not to comply with such auditor attestation requirements, our investors may not have access to certain information they may deem important.

The JOBS Act also provides that an emerging growth company does not need to comply with any new or revised financial accounting standards until such date that a private company is otherwise required to comply with such new or revised accounting standards. In other words, an "emerging growth company" can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the extended transition period, although we have already adopted certain new and revised accounting standards based on transition guidance permitted under such standards. As a result of this election, our future financial statements may not be comparable to other public companies that comply with the public company effective dates for these new or revised accounting standards.

**SPECIAL NOTICE REGARDING FORWARD-LOOKING STATEMENTS**

This prospectus contains forward-looking statements that involve risks and uncertainties, principally in the sections entitled "Risk Factors." All statements other than statements of historical fact contained in this prospectus, including statements regarding future events, our future financial performance, business strategy and plans and objectives of management for future operations, are forward-looking statements. We have attempted to identify forward-looking statements by terminology such as "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks outlined under "Risk Factors" or elsewhere in this prospectus, which may cause our or our industry's actual results, levels of activity, performance or achievements expressed or implied by these forward-looking statements to differ materially from such predictions.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made or on management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from what is expressed in or suggested by the forward-looking statements.

Forward-looking statements speak only as of the date they are made. You should not put undue reliance on any forward-looking statements. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

**USE OF PROCEEDS**

We may issue and sell Class A Ordinary Shares having aggregate sales proceeds of up to $300,000,000 from time to time, before deducting Sales Agent commissions and expenses. The amount of proceeds from this offering will depend upon the number of Class A Ordinary Shares sold and the market price at which they are sold. Because there is no minimum offering amount required as a condition of this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time. There can be no assurance that we will be able to sell any shares under or fully utilize the Sales Agreement.

As of the date of this prospectus, we cannot specify with certainty all of the particular uses for the net proceeds to us from this offering. However, we currently intend to use the net proceeds from this offering for capital expenditure, sales and marketing activities, and working capital and general corporate purposes.

We will retain broad discretion in the allocation of the net proceeds from this offering and could utilize the proceeds in ways that do not necessarily improve our results of operations or enhance the value of the Class A Ordinary Shares.

**PLAN OF DISTRIBUTION**

We have entered into the Sales Agreement with AGP under which we may from time to time issue and sell Class A Ordinary Shares, having a maximum aggregate offering price of up to $300,000,000, to or through AGP, acting as our sales agent or principal. The sales of Class A Ordinary Shares, if any, under this prospectus supplement will be made at market prices by any method deemed to be an "at-the-market offering" as defined in Rule 415(a)(4) under the Securities Act, including sales made directly on Nasdaq, on any other existing trading market for the Class A Ordinary Shares or to or through a market maker. If we and AGP agree on any method of distribution other than sales of Class A Ordinary Shares on or through Nasdaq or another existing trading market in the United States at market prices, we will file a further prospectus supplement providing all information about such offering as required by Rule 424(b) under the Securities Act.

Each time that we wish to issue and sell Class A Ordinary Shares under the Sales Agreement, we will provide AGP with a placement notice describing the amount of shares to be sold, the time period during which sales are requested to be made, any limitation on the amount of Class A Ordinary Shares that may be sold in any single day, any minimum price below which sales may not be made or any minimum price requested for sales in a given time period and any other instructions relevant to such requested sales. Upon receipt of a placement notice, AGP, acting as our sales agent, will use commercially reasonable efforts, consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of Nasdaq, to sell Class A Ordinary Shares under the terms and subject to the conditions of the placement notice and the Sales Agreement. We or AGP may suspend the offering of Class A Ordinary Shares pursuant to a placement notice upon notice and subject to other conditions.

Settlement for sales of Class A Ordinary Shares, unless the parties agree otherwise, will occur on the first trading day following the date on which any sales are made in return for payment of the net proceeds to us. There are no arrangements to place any of the proceeds of this offering in an escrow, trust or similar account. Sales of Class A Ordinary Shares as contemplated in this prospectus supplement will be settled through the facilities of The Depository Trust Company or by such other means as we and AGP may agree upon.

Because there are no minimum sale requirements as a condition to this offering, the actual total public offering price, commissions and net proceeds to us, if any, are not determinable at this time. The actual dollar amount and number of Class A Ordinary Shares we sell through this prospectus supplement will be dependent, among other things, on market conditions and our capital raising requirements.

The offering pursuant to the Sales Agreement will terminate upon the earlier of (i) the sale of all Class A Ordinary Shares subject to the Sales Agreement and (ii) termination of the Sales Agreement as permitted therein. We may terminate the Sales Agreement in our sole discretion at any time by giving five days' prior notice to AGP. AGP may terminate the Sales Agreement under the circumstances specified in the Sales Agreement and in its sole discretion at any time by giving five days' prior notice to us.

This prospectus supplement in electronic format may be made available on a website maintained by AGP, and AGP may distribute this prospectus supplement electronically.

**Fees and Expenses**

We will pay AGP commissions for its services in acting as our sales agent in the sale of Class A Ordinary Shares pursuant to the Sales Agreement. AGP will be entitled to compensation at a fixed commission rate of 3.0% of the gross proceeds from the sale of Class A Ordinary Shares on our behalf pursuant to the Sales Agreement. We have also agreed to reimburse AGP for its reasonable and documented out-of-pocket expenses (including but not limited to the reasonable and documented fees and expenses of its legal counsel) in an amount not to exceed $40,000 and up to an additional $20,000 per fiscal year for maintenance.

Assuming the sale of the maximum amount of the Class A Ordinary Shares permitted by regulation to be sold pursuant to the registration statement to which this prospectus supplement relates, we estimate that the total expenses for this offering, excluding compensation payable to AGP and certain expenses reimbursable to AGP under the terms of the Sales Agreement, will be approximately $50,000. The remaining sales proceeds, after deducting any expenses payable by us and any transaction fees imposed by any governmental, regulatory, or self-regulatory organization in connection with the sales, will equal our net proceeds for the sale of such Class A Ordinary Shares.

**Regulation M**

In connection with the sale of Class A Ordinary Shares on our behalf, AGP will be deemed to be an "underwriter" within the meaning of the Securities Act, and the compensation of AGP will be deemed to be underwriting commissions or discounts.

AGP will not engage in any market making activities involving the Class A Ordinary Shares while the offering is ongoing under this prospectus supplement if such activity would be prohibited under Regulation M or other anti-manipulation rules under the Securities Act. As our sales agent, AGP will not engage in any transactions that stabilize the Class A Ordinary Shares.

**Indemnification**

We have agreed to indemnify AGP against certain civil liabilities, including liabilities under the Securities Act and the Securities Exchange Act of 1934, as amended, and to contribute to payments that AGP may be required to make in respect of such liabilities.

**Listing**

The Class A Ordinary Shares are listed on the Nasdaq Capital Market under the symbol "MNDR."

**Other Relationships**

AGP and/or its affiliates may in the future engage, in transactions with, and may from time to time perform investment banking and advisory services for us in the ordinary course of their business and for which it will receive customary fees and expenses. In addition, in the ordinary course of its business activities, AGP and its affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for its own account and for the accounts of its customers. Such investments and securities activities may involve securities and/or instruments of ours or our affiliates.

**LEGAL MATTERS**

The validity of our Class A Ordinary Shares being offered hereby will be passed upon by Harney Westwood & Riegels Singapore LLP, our counsel as to Cayman Islands laws. Certain legal matters in connection with the U.S. federal laws have been passed upon for the Company by Loeb & Loeb LLP, New York, New York. The Sales Agent is being represented in connection with this offering by Pryor Cashman LLP, New York, New York.

**EXPERTS**

The consolidated balance sheets of the Company and its subsidiaries as of June 30, 2024 and the related consolidated statements of operation and comprehensive income, changes in shareholders' equity, and cash flows for the year then ended have been audited by JWF Assurance PAC, an independent registered public accounting firm, as stated in their report which is incorporated herein by reference to the Company's annual report on Form 20-F/A for the year ended June 30, 2024.

The consolidated balance sheets of the Company and its subsidiaries as of June 30, 2023 related consolidated statements of operation and comprehensive income (loss), changes in stockholders' equity, and cash flows for the year then ended have been audited by Simon & Edward, LLP, an independent registered public accounting firm, as stated in their report which is incorporated herein by reference to the Company's annual report on Form 20-F/A for the year ended June 30, 2024.

**WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY REFERENCE**

**Available Information**

The SEC maintains a website that contains reports, proxy and information statements and other information about issuers, such as us, who file electronically with the SEC. The address of that website is *www.sec.gov*.

Our website address is *https://manadr.com/*. The information on our website, however, is not, and should not be deemed to be, a part of this prospectus.

This prospectus supplement is part of a registration statement that we filed with the SEC and does not contain all of the information in the registration statement. The full registration statement may be obtained from the SEC or us, as provided below. Statements in this prospectus supplement about the Sales Agreement are summaries and each statement is qualified in all respects by reference to the Sales Agreement to which it refers. You should refer to the actual Sales Agreement for a more complete description of the relevant matters. You may inspect a copy of the registration statement through the SEC's website, as provided above.

**Incorporation by Reference**

The SEC's rules allow us to "incorporate by reference" information into this prospectus supplement, which means that we can disclose important information to you by referring you to another document filed separately with the SEC. The information incorporated by reference is deemed to be part of this prospectus supplement, and subsequent information that we file with the SEC will automatically update and supersede that information. Any statement contained in a previously filed document incorporated by reference will be deemed to be modified or superseded for purposes of this prospectus supplement to the extent that a statement contained in this prospectus supplement modifies or replaces that statement.

We incorporate by reference our documents listed below and any future filings made by us with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act between the date of this prospectus supplement and the termination of the offering of the securities described in this prospectus supplement. We are not, however, incorporating by reference any documents or portions thereof, whether specifically listed below or filed in the future, that are not deemed "filed" with the SEC, including any information furnished pursuant to Items 2.02 or 7.01 of Form 8-K or related exhibits furnished pursuant to Item 9.01 of Form 8-K.

This prospectus supplement incorporates by reference the documents set forth below that have previously been filed with the SEC:

● Our
 Annual Report (Amendment) on [Form 20-F/A](https://www.sec.gov/Archives/edgar/data/1976695/000149315224042792/form20-fa.htm) for the year ended June 30, 2024 (the "2024 Annual Report"), filed with the
 SEC on October 29, 2024;

● Our
 Current Reports on Form 6-K furnished to the SEC on [December 26, 2024](https://www.sec.gov/Archives/edgar/data/1976695/000149315224052023/form6-k.htm) , [January 17, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000149315225002658/form6-k.htm) , [February 4, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000149315225004784/form6-k.htm) , [February 19, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000149315225007566/form6-k.htm) , [March 6, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000149315225009334/form6-k.htm) , [March 26, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000164117225000687/form6-k.htm) , [May 5, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000164117225008626/form6-k.htm) , [June 6, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000164117225013932/form6-k.htm) , and [June 6, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000164117225013933/form6-k.htm) , [June 16, 2025](https://www.sec.gov/Archives/edgar/data/1976695/000164117225015142/form6-k.htm) (the June 13, 2025 Form 6-K is referred to as
 the "2024 Interim Results"); and

● The
 description of our Class A Ordinary Shares contained in our registration statement on [Form 8-A12B](https://www.sec.gov/Archives/edgar/data/1976695/000149315224011100/form8-a12b.htm) filed with the SEC on March 25,
 2024 and any amendment or report filed with the SEC for the purpose of updating the description.

All reports and other documents we subsequently file pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act prior to the termination of this offering, including all such documents we may file with the SEC after the date of the initial registration statement and prior to the effectiveness of the registration statement, but excluding any information furnished to, rather than filed with, the SEC, will also be incorporated by reference into this prospectus supplement and deemed to be part of this prospectus supplement from the date of the filing of such reports and documents.

You may request a free copy of any of the documents incorporated by reference in this prospectus (other than exhibits, unless they are specifically incorporated by reference in this prospectus supplement) by contacting us as follows:

Mobile-health Network Solutions

2 Venture Drive, #07-06/07 Vision Exchange

Singapore 608526

Siaw Tung Yeng, Co-Chief Executive Officer and Director

Telephone: +65 6222 5223

Email: <u>drsiaw@manadr.com</u>

**Up to $300,000,000 of Class A Ordinary Shares**

**PROSPECTUS SUPPLEMENT**

**A.G.P.**

**__________, 2025**

**PART II - INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 8. Indemnification of Directors and Officers**

Cayman Islands law does not limit the extent to which a company's articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. Under our memorandum and articles of association, to the fullest extent permissible under Cayman Islands law every director, secretary, assistant secretary or other officer for the time being and from time to time of the Company(but not including our company's auditors) shall be indemnified and secured harmless against all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or sustained by him, other than by reason of such person's own dishonesty, willful default or fraud, in or about the conduct of our company's business or affairs or in the execution or discharge of his duties, powers, authorities or discretions (including as a result of any mistake of judgment) as a director or officer of the Company, including without prejudice to the generality of the foregoing, any costs, expenses (including reasonable attorneys' fees), losses or liabilities incurred by him in defending (whether successfully or otherwise) any civil proceedings concerning the Company or its affairs in any court whether in the Cayman Islands or elsewhere.

We have agreed to indemnify our directors and officers against certain liabilities and expenses that they incur in connection with claims made by reason of their being a director or officer of the Company.

Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended, may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, 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.

**Item 9. Exhibits**

The following exhibits are filed herewith or incorporated by reference in this prospectus:

---

| | |
|:---|:---|
| **Exhibit No.** | **Description of document** |
| 1.1\*\* | [Sales Agreement, dated July 15, 2025, by and between the Company and A.G.P./Alliance Global Partners](ex1-1.htm) |
| 3.1\*\* | [Amended and Restated Memorandum and Articles of Association of the Company](ex3-1.htm) |
| 4.1 | [Specimen Certificate for Class A Ordinary Shares (Incorporated herein by reference to Exhibit 4.1 to Registrant's Registration Statement on Form F-1 (Amendment No. 1) (File No. 333-286026), filed on March 28, 2025)](https://www.sec.gov/Archives/edgar/data/1976695/000149315224008984/ex4-1.htm) |
| 4.2\* | Specimen Warrant Certificate, if any |
| 4.33\* | Form of Warrant Agreement, if any |
| 4.44\* | Form of Debt Security, if any |
| 4.55\* | Form of Unit Agreement and Specimen Unit Certificate, if any |
| 5.1\*\* | [Opinion of Harney Westwood & Riegels Singapore LLP](ex5-1.htm) |
| 23.1\*\* | [Consent of JWF Assurance PAC](ex23-1.htm) |
| 23.2\*\* | [Consent of Simon & Edward, LLP](ex23-2.htm) |
| 23.3\*\* | [Consent of Harney Westwood & Riegels Singapore LLP (included in Exhibit 5.1)](ex5-1.htm) |
| 24.1\*\* | [Power of Attorney (included in signature page to the initial filing of this registration statement)](#pow_001) |
| 107\*\* | [Filing Fee Table](ex107.htm) |

---

\* To be filed, if applicable, by amendment, or as an exhibit to a report on Form 6-K and incorporated herein by reference.

\*\* Filed herewith.

**Item 10. Undertakings**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To
 file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To
 include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;

(ii) To
 reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
 post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
 forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
 the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high and
 of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b)
 if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering
 price set forth in the "Calculation of Registration Fee" table in the effective registration statement;

(iii) To
 include any material information with respect to the plan of distribution not previously disclosed in the registration statement
 or any material change to such information in the registration statement;

 

*provided, however*, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That,
 for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed
 to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
 be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To
 remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
 termination of the offering.

(4) To
 file a post-effective amendment to the registration statement to include any financial statements required by Item 8.A. of Form 20-F
 at the start of any delayed offering or throughout a continuous offering. Financial statements and information otherwise required
 by Section 10(a) (3) of the Act need not be furnished, provided, that the registrant includes in the prospectus, by means of a post-effective
 amendment, financial statements required pursuant to this paragraph (a)(4) and other information necessary to ensure that all other
 information in the prospectus is at least as current as the date of those financial statements. Notwithstanding the foregoing, with
 respect to registration statements on Form F-3, a post-effective amendment need not be filed to include financial statements and
 information required by Section 10(a)(3) of the Act or Rule 3-19 of this chapter if such financial statements and information are
 contained in periodic reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d)
 of the Securities Exchange Act of 1934 that are incorporated by reference in the Form F-3.

(5) That,
 for the purpose of determining liability under the Securities Act of 1933 to any purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each
 prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the
 date the filed prospectus was deemed part of and included in the registration statement; and

(ii) Each
 prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on
 Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information
 required by section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement
 as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale
 of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any
 person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating
 to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time
 shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement
 or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into
 the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract
 of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus
 that was part of the registration statement or made in any such document immediately prior to such effective date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) That,
 for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution
 of the securities, in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless
 of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser
 by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered
 to offer or sell such securities to such purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Any
 preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule
 424;

(ii) Any
 free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by
 the undersigned registrant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The
 portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant
 or its securities provided by or on behalf of the undersigned registrant; and

(iv) Any
 other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing
 of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is
 incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities
 offered herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(c) Insofar
 as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling
 persons of the registrant pursuant to the provisions referred to in Item 8 hereof, or otherwise, the registrant has been advised
 that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities
 Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than
 the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the
 successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with
 the securities being registered, the registrant will, unless, in the opinion of its counsel, the matter has been settled by controlling
 precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy
 as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.

**SIGNATURES**

Pursuant to the requirements of the Securities Act, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Singapore, on the 16th day of July, 2025.

---

| | |
|:---|:---|
| **Mobile-health Network Solutions** | **Mobile-health Network Solutions** |
| By: | */s/ Siaw Tung Yeng* |
| Name: | Siaw Tung Yeng |
| Title: | Co-Chief Executive Officer and Director |

---

**Power of Attorney**

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below does hereby constitute and appoint Siaw Tung Yeng as his or her true and lawful attorneys-in-fact and agents, each with full power of substitution and re-substitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and any subsequent registration statement filed by the registrant pursuant to Rule 462(b) of the Securities Act, and to file or cause to be filed the same, with all exhibits thereto, and other documents in connection therewith, with the SEC, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his substitutes or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| */s/ Siaw Tung Yeng* | Co-Chief Executive Officer and Director | July 16, 2025 |
| Name: Siaw Tung Yeng | (principal executive officer) |  |
| */s/ Teoh Pui Pui* | Co-Chief Executive Officer/Chief Operating Officer/Chairwoman of the Board/Director | July 16, 2025 |
| Name: Teoh Pui Pui | (principal executive officer) |  |
| */s/ Leong Aik Huat* | Chief Financial Officer | July 16, 2025 |
| Name: Leong Aik Huat | (principal financial and principal accounting officer) |  |
| */s/ Ho Hin Yip* | Independent Director | July 16, 2025 |
| Name: Ho Hin Yip |  |  |
| */s/ Tan Kim Han Raymond* | Independent Director | July 16, 2025 |
| Name: Tan Kim Han Raymond |  |  |
| */s/ Gabe Rijpma* | Independent Director | July 16, 2025 |
| Name: Gabe Rijpma |  |  |

---

**SIGNATURE OF AUTHORIZED U.S. REPRESENTATIVE OF THE REGISTRANT**

Pursuant to the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of Mobile-health Network Solutions, has signed this registration statement in the City of New York, State of New York, United States, on July 16, 2025.

---

| | |
|:---|:---|
| Authorized U.S. Representative | Authorized U.S. Representative |
| Cogency Global Inc. | Cogency Global Inc. |
| By: | */s/ Colleen A. De Vries* |
| Name: | Colleen A. De Vries |
| Title: | Senior Vice President,<br> on behalf of Cogency Global Inc. |

---

## Exhibit 1.1

**Exhibit 1.1**

**Mobile-health Network Solutions** 

**Class a ORDINARY SHARES**

**<u>SALES AGREEMENT</u>**

July 15, 2025

A.G.P./Alliance Global Partners

590 Madison Avenue, 28<sup>th</sup> Floor

New York, New York 10022

Ladies and Gentlemen:

Mobile-health Network Solutions, an exempted company incorporated with limited liability in the Cayman Islands (the "**<u>Company</u>**"), confirms its agreement (this "**<u>Agreement</u>**") with A.G.P./Alliance Global Partners (the "**<u>Sales Agent</u>**"), as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Issuance and Sale of Shares</u>. The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it may issue and sell to or through the Sales Agent, acting as agent or principal, the Company's Class A ordinary shares, par value $0.000032 per share (the "**<u>Ordinary Shares</u>**"), subject to the limitations set forth in <u>Section 3(b)</u> hereof (the "**<u>Placement Shares</u>**"). The issuance and sale of Ordinary Shares to or through the Sales Agent will be effected pursuant to the Registration Statement (as defined below) filed by the Company and which was declared effective under the Securities Act (as defined below) by the U.S. Securities and Exchange Commission (the "**<u>Commission</u>**").

The Company has filed or will file on the date of execution of this Agreement, in accordance with the provisions of the Securities Act of 1933, as amended, and the rules and regulations thereunder (collectively, the "**<u>Securities Act</u>**"), with the Commission, a shelf registration statement on Form F-3, including a base prospectus, relating to certain securities, including the Ordinary Shares, to be issued from time to time by the Company, and which incorporates by reference documents that the Company has filed and certain documents that the Company will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (collectively, the "**<u>Exchange Act</u>**"). The Company has prepared a prospectus supplement to the base prospectus included as part of such registration statement specifically relating to the offering of the Placement Shares pursuant to this Agreement (the "**<u>ATM Prospectus</u>**"). The Company will furnish to the Sales Agent, for use by the Sales Agent, copies of the ATM Prospectus. Except where the context otherwise requires, such registration statement, as amended when it becomes effective, including all documents filed as part thereof or incorporated by reference therein, and including any information contained in a Prospectus (as defined below) subsequently filed with the Commission pursuant to Rule 424(b) under the Securities Act or deemed to be a part of such registration statement pursuant to Rule 430B or 462(b) under the Securities Act, is herein called the "**<u>Registration Statement</u>**." The base prospectus, including all documents incorporated therein by reference (to the extent such information has not been superseded or modified in accordance with Rule 412 under the Securities Act (as qualified by Rule 430B(g) of the Securities Act)), included in the Registration Statement, as it may be supplemented by the ATM Prospectus, including all documents incorporated therein by reference (to the extent such information has not been superseded or modified in accordance with Rule 412 under the Securities Act (as qualified by Rule 430B(g) of the Securities Act)), as it or they may be supplemented by any additional prospectus supplement, in the form in which such prospectus and/or the ATM Prospectus have most recently been filed by the Company with the Commission pursuant to Rule 424(b) under the Securities Act, together with any "issuer free writing prospectus" ("**<u>Issuer Free Writing Prospectus</u>**"), as defined in Rule 433 under the Securities Act ("**<u>Rule 433</u>**"), relating to the Placement Shares to be sold pursuant to this Agreement that (i) is required to be filed with the Commission by the Company or (ii) is exempt from filing pursuant to Rule 433(d)(5)(i), in each case in the form filed or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company's records pursuant to Rule 433(g), is herein called the "**<u>Prospectus</u>**." Any reference herein to the Registration Statement, the ATM Prospectus, the Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents incorporated by reference therein, and any reference herein to the terms "amend," "amendment" or "supplement" with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the filing after the execution hereof of any document with the Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto shall be deemed to include any copy filed with the Commission pursuant to the Electronic Data Gathering Analysis and Retrieval System ("**<u>EDGAR</u>**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Placements</u>. Each time that the Company wishes to issue and sell the Ordinary Shares through the Sales Agent hereunder (each, a "**<u>Placement</u>**"), it will notify the Sales Agent by email notice (or other method mutually agreed to in writing by the parties) (each such notice, a "**<u>Placement Notice</u>**") containing the parameters in accordance with which it desires the Placement Shares to be sold, which at a minimum shall include the maximum number or amount of Placement Shares to be issued, the time period during which sales are requested to be made, any limitation on the number or amount of Placement Shares that may be sold in any one Trading Day (as defined in <u>Section 3</u>) and any minimum price below which sales may not be made, a form of which containing such minimum sales parameters is attached hereto as **<u>Schedule 1</u>**. The Placement Notice shall originate from any of the individuals from the Company set forth on **<u>Schedule 2</u>** (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from the Sales Agent set forth on **<u>Schedule 2</u>**, as such **<u>Schedule 2</u>** may be amended from time to time in writing (including by e-mail). The Placement Notice shall be effective upon receipt by the Sales Agent unless and until, (i) in accordance with the notice requirements set forth in <u>Section 4</u>, the Sales Agent declines to accept the terms contained therein for any reason, in its sole discretion, (ii) the entire amount of the Placement Shares has been sold, (iii) in accordance with the notice requirements set forth in <u>Section 4</u>, the Company suspends or terminates the Placement Notice for any reason, in its sole discretion, (iv) the Company issues a subsequent Placement Notice with parameters superseding those on the earlier dated Placement Notice, or (v) the Agreement has been terminated under the provisions of <u>Section 11</u> herein. The amount of any discount, commission or other compensation to be paid by the Company to the Sales Agent in connection with the sale of the Placement Shares through the Sales Agent, as agent, shall be as set forth in **<u>Schedule 3</u>**. It is expressly acknowledged and agreed that neither the Company nor the Sales Agent will have any obligation whatsoever with respect to a Placement or any Placement Shares unless and until the Company delivers a Placement Notice to the Sales Agent and the Sales Agent does not decline such Placement Notice pursuant to the terms set forth above, and then only upon the terms specified therein and herein. In the event of a conflict between the terms of this Agreement and the terms of a Placement Notice, the terms of the Placement Notice will control with respect to the matters covered thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Sale of Placement Shares by the Sales Agent</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the terms and conditions herein set forth, upon the Company's issuance of a Placement Notice, and unless the sale of the Placement Shares described therein has been declined, suspended, or otherwise terminated in accordance with the terms of this Agreement, the Sales Agent, as agent for the Company, will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of The Nasdaq Capital Market (the "**<u>Exchange</u>**"), for the period specified in the Placement Notice, to sell such Placement Shares up to the number or amount specified by the Company in, and otherwise in accordance with the terms of such Placement Notice. If acting as agent hereunder, the Sales Agent will provide written confirmation to the Company (including by email correspondence to each of the individuals of the Company set forth on **<u>Schedule 2</u>**, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement Shares hereunder setting forth the number or amount of Placement Shares sold on such day, the volume-weighted average price of the Placement Shares, the compensation payable by the Company to the Sales Agent pursuant to <u>Section 2</u> with respect to such sales, and the Net Proceeds (as defined below) payable to the Company, with an itemization of the deductions made by the Sales Agent (as set forth in <u>Section 5(a)</u>) from the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice, the Sales Agent may sell Placement Shares by any method permitted by law deemed to be an "at the market" offering as defined in Rule 415 under the Securities Act. The Placement Shares are to be sold by the Sales Agent on a daily basis or otherwise as shall be agreed to by the Company and the Sales Agent on any day that is a trading day for the Exchange (other than a day on which the Exchange is scheduled to close prior to its regular weekday closing time). The gross sales price of the Placement Shares sold under this <u>Section 3(a)</u> shall be the market price for the Placement Shares sold by the Sales Agent under this <u>Section 3(a)</u> at the time of such sale. The Company acknowledges and agrees that (i) there can be no assurance that the Sales Agent will be successful in selling Placement Shares, (ii) the Sales Agent will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Shares for any reason other than a failure by the Sales Agent to use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable law and regulations to sell such Placement Shares as required under this Agreement and (iii) the Sales Agent shall be under no obligation to purchase Placement Shares on a principal basis pursuant to this Agreement, except as otherwise agreed by the Sales Agent and the Company in writing and expressly set forth in a Placement Notice. For the purposes hereof, "**<u>Trading Day</u>**" means any day on which the Ordinary Shares are purchased and sold on the principal market on which the Ordinary Shares are listed or quoted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Under no circumstances shall the Company cause or request the offer or sale of any Placement Shares if, after giving effect to the sale of such Placement Shares, the aggregate number or gross sales proceeds of Placement Shares sold pursuant to this Agreement would exceed the lesser of: (i) the number or dollar amount of Ordinary Shares available for issuance under the currently effective Registration Statement pursuant to which the offering hereunder is being made, (ii) the aggregate number of authorized but unissued and unreserved Ordinary Shares available for issuance under the Company's then effective articles of association, (iii) the number or dollar amount of Ordinary Shares permitted to be offered and sold under the Company's effective Registration Statement (including General Instruction I.B.5. of Form F-3, if and for so long as applicable), (iv) the number or dollar amount of Ordinary Shares authorized from time to time to be issued and sold under this Agreement by the Company's board of directors, a duly authorized committee thereof or a duly authorized executive committee, and notified to the Sales Agent in writing, or (v) the number or dollar amount of Ordinary Shares for which the Company has filed the ATM Prospectus or other prospectus supplement specifically relating to the offering of the Placement Shares pursuant to this Agreement. Under no circumstances shall the Company cause or request the offer or sale of any Placement Shares pursuant to this Agreement at a price lower than the minimum price authorized from time to time by the Company's board of directors, a duly authorized committee thereof or a duly authorized executive committee, and notified to the Sales Agent in writing. Notwithstanding anything to the contrary contained herein, the parties hereto acknowledge and agree that compliance with the limitations set forth in this <u>Section 3(b)</u> on the number or dollar amount of Placement Shares that may be issued and sold under this Agreement from time to time shall be the sole responsibility of the Company, and that the Sales Agent shall have no obligation in connection with such compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) During the term of this Agreement, neither the Sales Agent nor any of its affiliates or subsidiaries shall engage in (i) any short sale of any security of the Company or (ii) any sale of any security of the Company that the Sales Agent does not own or any sale which is consummated by the delivery of a security of the Company borrowed by, or for the account of, the Sales Agent. During the term of this Agreement and notwithstanding anything to the contrary herein, the Sales Agent agrees that in no event will the Sales Agent or its affiliates engage in any market making, bidding, stabilization or other trading activity with regard to the Ordinary Shares or related derivative securities if such activity would be prohibited under Regulation M or other anti-manipulation rules under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Suspension of Sales</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company or the Sales Agent may, upon notice to the other party in writing (including by email correspondence to each of the individuals of the other party set forth on **<u>Schedule 2</u>**, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) or by telephone (confirmed immediately by email correspondence to each of the individuals of the other party set forth on **<u>Schedule 2</u>**), suspend any sale of Placement Shares for a period of time (a "**<u>Suspension Period</u>**"); *provided*, *however*, that such suspension shall not affect or impair either party's obligations with respect to any Placement Shares sold hereunder prior to the receipt of such notice (including with respect to Placement Shares that have not yet settled); *provided*, *further*, that the Company shall be obligated to issue notice of such a suspension if the Company is unable to file its annual report on Form 20-F prior to or on the date that is three months after the end of its most recently ended fiscal year, and such Suspension Period shall continue until the Company files such annual report on Form 20-F. Each of the parties agrees that no such notice under this <u>Section 4</u> shall be effective against the other unless notice is sent to one of the individuals named on **<u>Schedule 2</u>** hereto in writing (including by email correspondence to each of the individuals of the other party set forth on **<u>Schedule 2</u>**, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply), as such schedule may be amended from time to time. During a Suspension Period, the Company shall not issue any Placement Notices and the Sales Agent shall not sell any Placement Shares hereunder. The party that issued a suspension notice shall notify the other party in writing of the Trading Day on which the Suspension Period shall expire not later than twenty-four (24) hours prior to such Trading Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding any other provision of this Agreement, during any period in which the Company is in possession of material non-public information regarding the Company, the Company and the Sales Agent agree that (i) no sale of Placement Shares will take place, (ii) the Company shall not request the sale of any Placement Shares, and (iii) the Sales Agent shall not be obligated to sell or offer to sell any Placement Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Settlement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Settlement of Placement Shares</u>. Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement Shares will occur on the first (1<sup>st</sup>) Trading Day (or such earlier day as is industry practice or as is required by law for regular-way trading) following the respective Point of Sale (as defined below) (each, a "**<u>Settlement Date</u>**"). The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the Placement Shares sold (the "**<u>Net Proceeds</u>**") will be equal to the aggregate sales price received by the Sales Agent, after deducting the Sales Agent's discount, commission or other compensation for such sales payable by the Company pursuant to <u>Section 3</u> hereof, and (ii) any transaction fees, trading expenses or execution fees imposed by any clearing organization or any governmental or self-regulatory organization and any other fees or expenses incurred by the Sales Agent in respect of such sales.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Delivery of Placement Shares</u>. On or before each Settlement Date, the Company will, or will cause its transfer agent to, electronically transfer the Placement Shares being sold by crediting the Sales Agent's or its designee's account (provided the Sales Agent shall have given the Company written notice of such designee prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System ("**<u>DWAC</u>**") or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable, registered Ordinary Shares in good deliverable form. On each Settlement Date, the Sales Agent will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date. The Sales Agent shall be responsible for providing DWAC instructions or other instructions for delivery by other means with regard to the transfer of the Placement Shares being sold. The Company agrees that if the Company, or its transfer agent (if applicable), defaults in its obligation to deliver duly authorized Placement Shares on a Settlement Date, or such other time as mutually agreed upon, through no fault of the Sales Agent, the Company agrees that in addition to and in no way limiting the rights and obligations set forth in <u>Section 9(a)</u> (Indemnification and Contribution) hereto, the Company will (i) hold the Sales Agent, its directors, officers, members, partners, employees and agents of the Sales Agent, each broker dealer affiliate of the Sales Agent, and each person, if any, who (A) controls the Sales Agent within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act or (B) is controlled by or is under common control with the Sales Agent (each, a "**<u>Sales Agent Affiliate</u>**"), and the Sales Agent's clearing organization, harmless against any loss, claim, damage, or reasonable and documented expense (including reasonable and documented legal fees and expenses), as incurred, arising out of or in connection with such default by the Company or its transfer agent (if applicable) and (ii) pay to the Sales Agent any commission, discount, or other compensation to which it would otherwise have been entitled absent such default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Representations and Warranties of the Company</u>. The Company represents and warrants to, and agrees with, the Sales Agent that as of the date of this Agreement, each Representation Date, each date on which a Placement Notice is given, each Point of Sale, and each Settlement Date (each, an "**<u>Applicable Time</u>**"), unless such representation, warranty or agreement specifies a different time or times:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Compliance with Registration Requirements</u>. As of each Applicable Time other than the date of this Agreement, the Registration Statement and any Rule 462(b) Registration Statement have been declared effective by the Commission under the Securities Act. The Company has complied to the Commission's satisfaction with all requests of the Commission for additional or supplemental information related to the Registration Statement and the Prospectus. No stop order suspending the effectiveness of the Registration Statement or any Rule 462(b) Registration Statement is in effect and, to the knowledge of the Company, no proceedings for such purpose have been instituted, or are pending or are contemplated or threatened by the Commission. The Registration Statement and, assuming no act or omission on the part of the Sales Agent that would make such statements untrue, the offer and sale of the Placement Shares as contemplated hereby meet the requirements of Rule 415 under the Securities Act and comply in all material respects with said Rule. In the section entitled "Plan of Distribution" in the ATM Prospectus, the Company has named A.G.P./Alliance Global Partners as an agent that the Company has engaged in connection with the transactions contemplated by this Agreement. The Company was not and is not an "ineligible issuer" as defined in Rule 405 under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>No Misstatement or Omission</u>. The Registration Statement and any post-effective amendment thereto, at the time it became or becomes effective, complied or will comply in all material respects with the Securities Act. The Prospectus, and any amendment or supplement thereto, on the date of such Prospectus or amendment or supplement, complied or will comply in all material respects with the Securities Act. The Registration Statement and any post-effective amendment thereto, at the time it became or becomes effective, did not and will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. The Prospectus, as amended or supplemented, as of its date, did not and, as of each Point of Sale and each Settlement Date, will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The representations and warranties set forth in the two immediately preceding sentences do not apply to statements in or omissions from the Registration Statement or any post-effective amendment thereto, or the Prospectus, or any amendments or supplements thereto, made in reliance upon and in conformity with information relating to the Sales Agent furnished to the Company in writing by the Sales Agent expressly for use therein, including, but not limited to, the ninth and tenth paragraphs under the heading "Plan of Distribution" in the ATM Prospectus. "**<u>Point of Sale</u>**" means, for a Placement, the time at which an acquiror of Placement Shares entered into a contract, binding upon such acquiror, to acquire such Placement Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Offering Materials Furnished to the Sales Agent</u>. Copies of the Registration Statement, the Prospectus, and all amendments or supplements thereto and all documents incorporated by reference therein that were filed with the Commission on or prior to the date of this Agreement, have been delivered, or are publicly available through EDGAR, to the Sales Agent. Each Prospectus delivered to the Sales Agent for use in connection with the sale of the Placement Shares pursuant to this Agreement will be identical to the version of such Prospectus filed with the Commission via EDGAR, except to the extent permitted by Regulation S-T.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Distribution of Offering Material by the Company</u>. The Company has not distributed and will not distribute, prior to the completion of the Sales Agent's distribution of the Placement Shares, any offering material in connection with the offering and sale of the Placement Shares other than the Prospectus or the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>The Sales Agreement</u>. This Agreement has been duly authorized, executed and delivered by the Company, and constitutes a valid, legal, and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as rights to indemnity hereunder may be limited by federal or state securities laws or public policy considerations in respect thereof and except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the rights of creditors generally, and subject to general principles of equity. The Company has full corporate power and authority to enter into this Agreement and to authorize, issue and sell the Placement Shares as contemplated by this Agreement. This Agreement conforms in all material respects to the descriptions thereof in the Registration Statement and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Authorization of the Placement Shares</u>. The Placement Shares, when issued and paid for in accordance with this Agreement, will be validly issued, fully paid and nonassessable, will be issued in compliance with federal and state securities laws, and any applicable Cayman Islands laws, and will be free of preemptive, registration or similar rights, and will conform to the description of the Ordinary Shares contained in the Registration Statement and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>No Applicable Registration or Other Similar Rights</u>. There are no persons with registration or other similar rights to have any equity or debt securities registered for sale under the Registration Statement or included in the offering contemplated by this Agreement, except for such rights as have been duly waived. No person has the right to act as an underwriter or as a financial advisor to the Company in connection with the offer and sale of the Placement Shares hereunder, whether as a result of the filing or effectiveness of the Registration Statement or the sale of the Placement Shares as contemplated hereby or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>No Material Adverse Change</u>. Except as otherwise disclosed in the Registration Statement and the Prospectus, subsequent to the respective dates as of which information is given in the Prospectus: (i) there has been no material adverse change in the business, properties, prospects, operations, condition (financial or otherwise) or results of operations of the Company (any such change is called a "**<u>Material Adverse Change</u>**"), which, individually or in the aggregate, has had or would reasonably be expected to result in a Material Adverse Change; (ii) the Company has not incurred any material liability or obligation, indirect, direct or contingent, not in the ordinary course of business nor entered into any material transaction or agreement not in the ordinary course of business; (iii) there has been no dividend or distribution of any kind declared, paid or made by the Company; (iv) no officer or director of the Company has resigned from any position with the Company; and (v) there has not been any Material Adverse Change in the Company's long-term debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Independent Accountants</u>. To the knowledge of the Company, each of JWF Assurance PAC and Simon & Edward, LLP, whose reports are filed with the Commission as part of the Company's most recent Annual Report on Form 20-F filed with the Commission and incorporated by reference in the Registration Statement and the Prospectus, is an independent registered public accounting firm as required by the Securities Act and the International Accounting Standards Board or the Public Company Accounting Oversight Board, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>SEC Reports; Financial Statements</u>. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, since January 1, 2024 (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein being collectively referred to herein as the "**<u>SEC Reports</u>**") on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The consolidated financial statements of the Company included or incorporated by reference in the Registration Statement and the Prospectus, together with the related notes and schedules, present fairly, in all material respects, the consolidated financial position of the Company and its subsidiaries as of and at the dates indicated and the results of their operations and cash flows for the periods then ended. Such financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("**<u>U.S. GAAP</u>**") applied on a consistent basis throughout the periods involved, except as may be expressly stated in the related notes thereto. No other financial statements or supporting schedules are required to be included in or incorporated in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Forward-Looking Statements.</u> No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) contained in the Registration Statement or the Prospectus was included therein by the Company without a reasonable basis or has been disclosed by the Company other than in good faith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Statistical and Marketing-Related Data</u>. The statistical and market-related data included in each of the Registration Statement and the Prospectus are based on or derived from sources that the Company reasonably and in good faith believes are reliable and accurate or represent the Company's good faith estimates that are made on the basis of data derived from such sources.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>XBRL</u>. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement fairly presents the information called for in all material respects and has been prepared in accordance with the Commission's rules and guidelines applicable thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Incorporation and Good Standing of the Company</u>. The Company and each Subsidiary is duly incorporated or otherwise organized and validly existing under the laws of the Cayman Islands or its respective jurisdiction of incorporation, as applicable. The Company has requisite corporate power to carry on its business as described in the Prospectus. The Company is duly qualified to transact business and is in good standing in all jurisdictions in which the conduct of its business requires such qualification; except where the failure to be so qualified or to be in good standing would not result in a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Capital Stock Matters</u>. All issued and outstanding securities of the Company issued prior to the transactions contemplated by this Agreement have been duly authorized and validly issued and are fully paid and non-assessable; the holders thereof have no rights of rescission with respect thereto, and are not subject to personal liability by reason of being such holders; and none of such securities were issued in violation of the preemptive rights of any holders of any security of the Company or similar contractual rights granted by the Company. The authorized Ordinary Shares conform in all material respects to the description thereof contained in the Registration Statement and the Prospectus. The offers and sales of the outstanding Ordinary Shares were at all relevant times either registered under the Securities Act and the applicable state securities or "blue sky" laws or, based in part on the representations and warranties of the purchasers of such shares, exempt from such registration requirements. The description of the Company's stock option, stock bonus and other stock plans or arrangements, and the options or other rights granted thereunder, contained in the Registration Statement and the Prospectus, accurately and fairly present, in all material respects, the information required to be shown with respect to such plans, arrangements, options and rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>Non-Contravention of Existing Instruments; No Further Authorizations or Approvals Required</u>. The Company's execution, delivery and performance of this Agreement and consummation of the transactions contemplated hereby or by the Registration Statement and the Prospectus (including the issuance and sale of the Placement Shares and the use of the proceeds from the sale of the Placement Shares as described in the Prospectus under the caption "Use of Proceeds") will not (A) result in a violation of any existing applicable law, rule, regulation, judgment, order or decree of any Governmental Entity (as defined below) to which the Company is subject as of the date hereof, (B) conflict with, result in any violation or breach of, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any right of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) (a "**<u>Default Acceleration Event</u>**") of, any agreement, lease, credit facility, debt, note, bond, mortgage, indenture or other instrument ("**<u>Contract</u>**") or obligation to which the Company is a party or by which any property or asset of the Company is bound or affected, or (C) result in a breach or violation of any of the terms and provisions of, or constitute a default under, the Company's articles of association (as the same may be amended or restated from time to time) (the "**<u>Charter</u>**") or other equivalent organizational or governing documents, except in the case of each of clauses (A) and (B), as disclosed in the Registration Statement and the Prospectus or to the extent that such conflict, default, or Default Acceleration Event would not have or would not reasonably be expected to result in a Material Adverse Change. The Company is not in violation, breach or default under the Charter or other equivalent organizational or governing documents. Neither the Company nor, to its knowledge, any other party is in violation, breach or default of any Contract that has resulted in or could reasonably be expected to result in a Material Adverse Change. Each approval, consent, order, authorization, designation, declaration or filing by or with any regulatory, administrative or other governmental body necessary in connection with the execution and delivery by the Company of this Agreement and the performance of the Company of the transactions herein contemplated has been obtained or made and is in full force and effect, except (i) with respect to any Applicable Time at which the Sales Agent would not be able to rely on Rule 5110(b)(7)(C)(i) of the Financial Industry Regulatory Authority, Inc. ("**<u>FINRA</u>**"), such additional steps as may be required by FINRA, (ii) filings with the Commission required under the Securities Act or the Exchange Act, or filings with the Exchange pursuant to the rules and regulations of the Exchange, in each case that are contemplated by this Agreement to be made on or after the date of this Agreement, and (iii) such additional steps as may be necessary to qualify the Placement Shares for sale by the Sales Agent under state securities or Blue Sky laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) <u>No Material Actions or Proceedings</u>. There is no action, suit, proceeding, inquiry, arbitration, investigation, litigation or governmental proceeding pending or, to the Company's knowledge, threatened against, or involving the Company or, to the Company's knowledge, any executive officer or director, which has not been disclosed in the Registration Statement and the Prospectus which is required to be disclosed, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) <u>Labor Disputes</u>. No labor dispute with the employees of the Company exists or, to the knowledge of the Company, is imminent with respect to any of the employees of the Company, which could reasonably be expected to result in a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) <u>Compliance with Applicable Laws</u>. Neither the Company nor any of its direct and indirect subsidiaries, including each entity disclosed or described in the Registration Statement and the Prospectus as being a subsidiary of the Company (each, a "**<u>Subsidiary</u>**" and, collectively, the "**<u>Subsidiaries</u>**"): (i) is in default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree or order of any court, arbitrator or other governmental authority or (iii) is or has been in violation of any statute, rule, ordinance or regulation of any governmental authority, including without limitation all foreign, federal, state and local laws relating to taxes, environmental protection, occupational health and safety, product quality and safety and employment and labor matters, except in each case of (i), (ii) and (iii) as would not have or reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) <u>Foreign Private Issuer</u>. The Company is a "foreign private issuer," as such term is defined in Rule 405 of the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) <u>Regulatory Permits</u>. The Company and the Subsidiaries possess all certificates, authorizations and permits issued by the appropriate federal, state, local, Cayman Islands or other foreign regulatory authorities necessary to conduct their respective businesses as described in the Registration Statement and the Prospectus, except where the failure to possess such certificates, authorizations or permits could not reasonably be expected to result in a Material Adverse Effect ("**<u>Material Permits</u>**"), and neither the Company nor any Subsidiary has received any notice of proceedings relating to the revocation or modification of any Material Permit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>Tax Law Compliance</u>. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, the Company (i) has filed all returns (as hereinafter defined) required to be filed with taxing authorities prior to the date hereof or has duly obtained extensions of time for the filing thereof and (ii) has paid all taxes (as hereinafter defined) shown as due on such returns that were filed and has paid all taxes imposed on or assessed against the Company. The provisions for taxes payable, if any, shown on the consolidated financial statements filed with or as part of or incorporated by reference in the Registration Statement are sufficient for all accrued and unpaid taxes, whether or not disputed, and for all periods to and including the dates of such consolidated financial statements. Other than as disclosed in the Registration Statement and the Prospectus, (i) no issues have been raised (and are currently pending) by any taxing authority in connection with any of the returns or taxes asserted as due from the Company, and (ii) no waivers of statutes of limitation with respect to the returns or collection of taxes have been given by or requested from the Company. There are no tax liens against the assets, properties or business of the Company. The term "**<u>taxes</u>**" means all federal, state, local, foreign and other net income, gross income, gross receipts, sales, use, ad valorem, transfer, franchise, profits, license, lease, service, service use, withholding, payroll, employment, excise, severance, stamp, occupation, premium, property, windfall profits, customs, duties or other taxes, fees, assessments or charges of any kind whatever, together with any interest and any penalties, additions to tax or additional amounts with respect thereto. The term "**<u>returns</u>**" means all returns, declarations, reports, statements and other documents required to be filed in respect to taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) <u>Company Not an "Investment Company</u>". The Company is not, and will not be, either after receipt of payment for the Placement Shares or after the application of the proceeds therefrom as described under "Use of Proceeds" in the Registration Statement or the Prospectus, required to register as an "investment company" under the Investment Company Act of 1940, as amended (the "**<u>Investment Company Act</u>**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) <u>Insurance</u>. The Company carries or is entitled to the benefits of insurance, with reputable insurers, in such amounts and covering such risks which the Company believes are adequate, and all such insurance is in full force and effect. The Company has no reason to believe that it will not be able (i) to renew its existing insurance coverage as and when such policies expire or (ii) to obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not result in a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) <u>No Price Stabilization or Manipulation</u>. Neither the Company, nor to the knowledge of the Company, any of its directors, officers or controlling persons has taken, directly or indirectly (without giving any effect to the activities of the Sales Agent), any action designed to or that might cause or result in stabilization or manipulation of the price of the Ordinary Shares or of any "reference security" (as defined in Rule 100 of Regulation M under the Exchange Act ("**<u>Regulation M</u>**")) with respect to the Ordinary Shares, whether to facilitate the sale or resale of the Placement Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) <u>Related Party Transactions</u>. There are no business relationships or related party transactions involving the Company or any other person required to be described in the Registration Statement and the Prospectus that have not been described as required pursuant to the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) <u>Exchange Act Compliance</u>. The documents incorporated or deemed to be incorporated by reference in the Registration Statement, the Prospectus or any amendment or supplement thereto, at the time they were or hereafter are filed with the Commission under the Exchange Act, complied, and will comply, in all material respects with the requirements of the Exchange Act, and, when read together with the other information in the Prospectus, at each Point of Sale and each Settlement Date, will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) <u>Conformity of Issuer Free Writing Prospectus</u>. Each Issuer Free Writing Prospectus conformed or will conform in all material respects to the requirements of the Securities Act on the date of first use, and the Company has complied or will comply with any filing requirements applicable to such Issuer Free Writing Prospectus pursuant to the Securities Act. Each Issuer Free Writing Prospectus, as of its issue date and as of each Applicable Time, did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the Registration Statement or the Prospectus, including any document incorporated by reference therein that has not been superseded or modified. The Company has not made any offer relating to the Placement Shares that would constitute an Issuer Free Writing Prospectus without the prior written consent of the Sales Agent. The Company has retained in accordance with the Securities Act all Issuer Free Writing Prospectuses that were not required to be filed pursuant to the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) <u>Compliance with Environmental Laws</u>. The Company is in compliance with all foreign, federal, state and local rules, laws and regulations relating to the use, treatment, storage and disposal of hazardous or toxic substances or waste and protection of health and safety or the environment which are applicable to its business ("**<u>Environmental Laws</u>**"), except where the failure to comply would not, singularly or in the aggregate, result in a Material Adverse Change. To the Company's knowledge, there has been no storage, generation, transportation, handling, treatment, disposal, discharge, emission, or other release of any kind of toxic or other wastes or other hazardous substances by, due to, or caused by the Company (or, to the Company's knowledge, any other entity for whose acts or omissions the Company is or may otherwise be liable) upon any of the property now or previously owned or leased by the Company, or upon any other property, in violation of any law, statute, ordinance, rule, regulation, order, judgment, decree or permit or which would, under any law, statute, ordinance, rule (including rule of common law), regulation, order, judgment, decree or permit, give rise to any liability, except for any violation or liability which would not have, singularly or in the aggregate with all such violations and liabilities, a Material Adverse Change; and there has been no disposal, discharge, emission or other release of any kind onto such property or into the environment surrounding such property of any toxic or other wastes or other hazardous substances with respect to which the Company has knowledge, except for any such disposal, discharge, emission, or other release of any kind which would not have, singularly or in the aggregate with all such discharges and other releases, a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) <u>Intellectual Property</u>. The Company owns or possesses or has valid rights to use all patents, patent applications, trademarks, service marks, trade names, trademark registrations, service mark registrations, copyrights, licenses, inventions, trade secrets and similar rights ("**<u>Intellectual Property Rights</u>**") necessary for the conduct of the business of the Company as described in the Registration Statement and the Prospectus, except as would not be reasonably likely to result in a Material Adverse Change. To the knowledge of the Company, no action or use by the Company necessary for the conduct of its business as described in the Registration Statement and the Prospectus will involve or give rise to any infringement of, or license or similar fees for, any Intellectual Property Rights of others, except where such action, use, license or fee is not reasonably likely to result in a Material Adverse Change. The Company has not received any notice alleging any such infringement, fee or conflict with asserted Intellectual Property Rights of others. Except as would not reasonably be expected to result, individually or in the aggregate, in a Material Adverse Change (A) to the knowledge of the Company, there is no infringement, misappropriation or violation by third parties of any of the Intellectual Property Rights owned by the Company; (B) there is no pending or, to the knowledge of the Company, threatened action, suit, proceeding or claim by others challenging the rights of the Company in or to any such Intellectual Property Rights, and the Company is unaware of any facts which would form a reasonable basis for any such claim, that would, individually or in the aggregate, together with any other claims in this <u>Section 6(dd)</u>, reasonably be expected to result in a Material Adverse Change; (C) the Intellectual Property Rights owned by the Company and, to the knowledge of the Company, the Intellectual Property Rights licensed to the Company have not been adjudged by a court of competent jurisdiction invalid or unenforceable, in whole or in part, and there is no pending or, to the Company's knowledge, threatened action, suit, proceeding or claim by others challenging the validity or scope of any such Intellectual Property Rights, and the Company is unaware of any facts which would form a reasonable basis for any such claim that would, individually or in the aggregate, together with any other claims in this <u>Section 6(dd)</u>, reasonably be expected to result in a Material Adverse Change; (D) there is no pending or, to the Company's knowledge, threatened action, suit, proceeding or claim by others that the Company infringes, misappropriates or otherwise violates any Intellectual Property Rights or other proprietary rights of others, the Company has not received any written notice of such claim and the Company is unaware of any other facts which would form a reasonable basis for any such claim that would, individually or in the aggregate, together with any other claims in this <u>Section 6(dd)</u>, reasonably be expected to result in a Material Adverse Change; and (E) to the Company's knowledge, no employee of the Company is in or has ever been in violation in any material respect of any term of any employment contract, patent disclosure agreement, invention assignment agreement, non-competition agreement, non-solicitation agreement, nondisclosure agreement or any restrictive covenant to or with a former employer where the basis of such violation relates to such employee's employment with the Company, or actions undertaken by the employee while employed with the Company and could reasonably be expected to result, individually or in the aggregate, in a Material Adverse Change. To the Company's knowledge, all material technical information developed by and belonging to the Company which has not been patented has been kept confidential. The Company is not a party to or bound by any options, licenses or agreements with respect to the Intellectual Property Rights of any other person or entity that are required to be set forth in the Registration Statement and the Prospectus and are not described therein. The Registration Statement and the Prospectus contain in all material respects the same description of the matters set forth in the preceding sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) <u>Brokers</u>. The Company is not a party to any contract, agreement or understanding with any person (other than as contemplated by this Agreement) that would give rise to a valid claim against the Company or the Sales Agent for a brokerage commission, finder's fee or like payment in connection with the offering and sale of the Placement Shares by the Sales Agent under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) <u>No Outstanding Loans or Other Indebtedness</u>. There are no outstanding loans, advances (except normal advances for business expenses in the ordinary course of business) or guarantees or indebtedness by the Company to or for the benefit of any of the officers or directors of the Company, or any of their respective family members, except as disclosed in the Registration Statement and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) <u>No Reliance</u>. The Company has not relied upon the Sales Agent or legal counsel for the Sales Agent for any legal, tax or accounting advice in connection with the offering and sale of the Placement Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh) <u>Broker-Dealer Status</u>. Neither the Company nor any of its related entities (i) is required to register as a "broker" or "dealer" in accordance with the provisions of the Exchange Act or (ii) directly or indirectly through one or more intermediaries, controls or is a "person associated with a member" or "associated person of a member" (within the meaning of Article I of the NASD Manual administered by FINRA). To the Company's knowledge, there are no affiliations or associations between any member of FINRA and any of the Company's officers, directors or 5% or greater security holders, except as set forth in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Public Float Calculation</u>. As of the date of this Agreement, the Company meets the then applicable requirements for the use of Form F-3 under the Securities Act. As of the close of trading on the Exchange on June 24, 2025, the aggregate market value of the outstanding voting and non-voting common equity (as defined in Rule 405) of the Company held by persons other than affiliates of the Company (pursuant to Rule 144 of the Securities Act, those that directly, or indirectly through one or more intermediaries, control, or are controlled by, or are under common control with, the Company) (the "**<u>Non-Affiliate Shares</u>**"), was approximately $6,707,416 (calculated by multiplying (x) $1.29 (the price at which the Ordinary Shares of the Company was last sold on the Exchange on June 24, 2025) by (y) 5,199,547 (the number of Non-Affiliate Shares outstanding on June 24, 2025)). The Company is not a shell company (as defined in Rule 405) and has not been a shell company for at least 12 calendar months previously and if it has been a shell company at any time previously, has filed current Form 10 information (as defined in General Instruction I.B.5. of Form F-3) with the Commission at least 12 calendar months previously reflecting its status as an entity that is not a shell company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj) <u>FINRA Matters</u>. All of the information provided to the Sales Agent or to counsel for the Sales Agent by the Company, its counsel, its officers and directors and, to the Company's knowledge, the holders of any securities (debt or equity) or options to acquire any securities of the Company in connection with the offering of the Placement Shares is true, complete, correct and compliant with FINRA's rules in all material respects and any letters, filings or other supplemental information provided to FINRA pursuant to FINRA Rules or NASD Conduct Rules is true, complete and correct in all material respects. Except as disclosed in the Registration Statement and the Prospectus, to the Company's knowledge, there is no (i) officer or director of the Company, (ii) beneficial owner of 5% or more of any class of the Company's securities or (iii) beneficial owner of the Company's unregistered equity securities that were acquired during the 180-day period immediately preceding the date of this Agreement that is an affiliate or associated person of a FINRA member participating in the offer, issuance and sale of the Placement Shares as contemplated by this Agreement and the Registration Statement and the Prospectus (as determined in accordance with the rules and regulations of FINRA).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk) <u>Compliance with Orders</u>. The Company is not in violation of any material judgment, decree, or order of any court, arbitrator or other governmental authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll) <u>Sarbanes–Oxley Act</u>. The Company is in material compliance with any and all applicable requirements of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith (the "**<u>Sarbanes-Oxley Act</u>**") that are effective as of the date hereof, and any and all applicable rules and regulations promulgated by the Commission thereunder that are effective as of the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm) <u>Disclosure Controls and Procedures; Internal Controls over Financial Reporting</u>. The Company maintains systems of disclosure controls and "internal controls over financial reporting" (as defined under Rules 13a-15 and 15d-15 under the Exchange Act) that comply with the requirements of the Exchange Act and have been designed by, or under the supervision of, the Company's principal executive and principal financial officers, or persons performing similar functions, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. GAAP to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms, including controls and procedures designed to ensure that such information is accumulated and communicated to the Company's management as appropriate to allow timely decisions regarding required disclosure. Since the date of the latest audited financial statements included in the Registration Statement and the Prospectus, there has been no change in the Company's internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn) <u>ERISA</u>. The Company and any "employee benefit plan" (as defined under the Employee Retirement Income Security Act of 1974, as amended, and the regulations and published interpretations thereunder (collectively, "ERISA")) established or maintained by the Company or its "ERISA Affiliates" (as defined below) are in compliance in all material respects with ERISA. No "reportable event" (as defined under ERISA) has occurred or is reasonably expected to occur with respect to any "employee benefit plan" established or maintained by the Company or any of its ERISA Affiliates. No "employee benefit plan" established or maintained by the Company or any of its ERISA Affiliates, if such "employee benefit plan" were terminated, would have any "amount of unfunded benefit liabilities" (as defined under ERISA). Neither the Company nor any of its ERISA Affiliates has incurred or reasonably expects to incur any material liability under (i) Title IV of ERISA with respect to termination of, or withdrawal from, any "employee benefit plan" or (ii) Sections 412, 4971, 4975 or 4980B of the Code. Each "employee benefit plan" established or maintained by the Company or any of its ERISA Affiliates that is intended to be qualified under Section 401(a) of the Code is so qualified and, to the knowledge of the Company, nothing has occurred, whether by action or failure to act, which would cause the loss of such qualification. "ERISA Affiliate" means, with respect to the Company, any member of any group of organizations described in Sections 414(b), (c), (m) or (o) of the Internal Revenue Code of 1986, as amended, and the regulations and published interpretations thereunder (the "**<u>Code</u>**") of which the Company is a member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(oo) <u>Contracts and Agreements</u>. The agreements and documents described in the Registration Statement and the Prospectus conform in all material respects to the descriptions thereof contained therein and there are no agreements or other documents required by the Securities Act to be described in the Registration Statement and the Prospectus or to be filed with the Commission as exhibits to the Registration Statement, which have not been so described or filed. Each agreement or other instrument (however characterized or described) to which the Company is a party or by which it is or may be bound or affected and (i) that is referred to in the Registration Statement and the Prospectus, or (ii) is material to the Company's business, has been duly authorized and validly executed by the Company, is in full force and effect in all material respects and is enforceable against the Company and, to the Company's knowledge, the other parties thereto, in accordance with its terms, except (x) as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors' rights generally, (y) as enforceability of any indemnification or contribution provision may be limited under the federal and state securities laws, and (z) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding therefor may be brought. None of such agreements or instruments has been assigned by the Company, and neither the Company nor, to the Company's knowledge, any other party is in default thereunder and, to the Company's knowledge, no event has occurred that, with the lapse of time or the giving of notice, or both, would constitute a default thereunder. To the best of the Company's knowledge, performance by the Company of the material provisions of such agreements or instruments will not result in a violation of any existing applicable law, rule, regulation, judgment, order or decree of any governmental agency or court, domestic or foreign, having jurisdiction over the Company or any of its assets or businesses (each, a "**<u>Governmental Entity</u>**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(pp) <u>Title to Properties</u>. Except as disclosed in the Registration Statement and the Prospectus, the Company has good and marketable title in fee simple to, or has valid rights to lease or otherwise use, all items of real or personal property that are material to the business of the Company, in each case free and clear of all liens, encumbrances, security interests, claims and defects except (i) such liens, encumbrances, security interests, claims and defects that do not, singly or in the aggregate, materially affect the value of such property and do not interfere with the use made and proposed to be made of such property by the Company and (ii) liens for the payment of federal, state or other taxes, for which appropriate reserves have been made in accordance with U.S. GAAP, and the payment of which is neither delinquent nor subject to penalties; and all of the leases and subleases material to the business of the Company, and under which the Company holds properties described in the Registration Statement and the Prospectus, are in full force and effect, and the Company has not received any notice of any material claim of any sort that has been asserted by anyone adverse to the rights of the Company under any of the leases or subleases mentioned above, or affecting or questioning the rights of the Company to the continued possession of the leased or subleased premises under any such lease or sublease, which would result in a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qq) <u>Foreign Corrupt Practices Act</u>. None of the Company or, to the knowledge of the Company, any director, officer, agent, employee, affiliate or other person acting on behalf of the Company, is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (collectively, the "**<u>FCPA</u>**"), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any "foreign official" (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA. To the Company's knowledge, the Company has conducted its business in compliance with the FCPA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(rr) <u>No Unlawful Contributions or Other Payments</u>. No payments or inducements have been made or given, directly or indirectly, to any federal or local official or candidate for, any federal or state office in the United States or foreign offices by the Company or any of its officers or directors, or, to the knowledge of the Company, by any of its employees or agents or any other person in connection with any opportunity, contract, permit, certificate, consent, order, approval, waiver or other authorization relating to the business of the Company, except for such payments or inducements as were lawful under applicable laws, rules and regulations. Neither the Company, nor, to the knowledge of the Company, any director, officer, agent, employee or other person associated with or acting on behalf of the Company, (i) has used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any government official or employee from corporate funds; or (iii) made any bribe, unlawful rebate, payoff, influence payment, kickback or other unlawful payment in connection with the business of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ss) <u>Money Laundering Laws</u>. The operations of the Company are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the "**<u>Money Laundering Laws</u>**") and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(tt) <u>OFAC</u>. None of the Company or, to the knowledge of the Company, any director, officer, agent, employee, affiliate or person acting on behalf of the Company is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department ("**<u>OFAC</u>**"); and the Company will not directly or indirectly use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(uu) <u>Exchange Listing</u>. The Ordinary Shares are registered pursuant to Section 12(b) of the Exchange Act and are currently listed on the Exchange under the trading symbol "MNDR." Except as disclosed in the Registration Statement and the Prospectus, there is no action pending by the Company or, to the Company's knowledge, the Exchange to delist the Ordinary Shares from the Exchange, nor has the Company received any notification that the Exchange is contemplating terminating such listing. The Company has no intention to delist the Ordinary Shares from the Exchange or to deregister the Ordinary Shares under the Exchange Act, in either case, at any time during the period commencing on the date of this Agreement through and including the 90th calendar day after the termination of this Agreement. The Placement Shares have been approved for listing on the Exchange. The issuance and sale of the Placement Shares under this Agreement does not contravene the rules and regulations of the Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vv) <u>Margin Rules</u>. The Company owns no "margin securities" as that term is defined in Regulation U of the Board of Governors of the Federal Reserve System (the "Federal Reserve Board"), and none of the proceeds from the issuance, sale and delivery of the Placement Shares as contemplated by this Agreement and as described in the Registration Statement and the Prospectus will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security, for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry any margin security or for any other purpose which might cause any of the Ordinary Shares to be considered a "purpose credit" within the meanings of Regulation T, U or X of the Federal Reserve Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ww) <u>Underwriter Agreements</u>. The Company is not a party to any agreement with an agent or underwriter for any "at-the-market" or continuous equity transaction other than this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx) <u>Board of Directors</u>. The qualifications of the persons serving as board members of the Company and the overall composition of the Company's Board of Directors comply with the applicable requirements of the Exchange Act and the Sarbanes-Oxley Act and the listing rules of the Exchange applicable to the Company. At least one member of the Audit Committee of the Board of Directors of the Company qualifies as an "audit committee financial expert," as such term is defined under Regulation S-K and the listing rules of the Exchange. In addition, at least a majority of the persons serving on the Board of Directors of the Company qualify as "independent," as defined under the listing rules of the Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(yy) <u>No Integration</u>. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause the offer and sale of the Placement Shares hereunder to be integrated with prior offerings by the Company for purposes of the Securities Act that would require the registration of any such securities under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(zz) <u>No Material Defaults</u>. The Company has not defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Change. The Company has not filed a report pursuant to Section 13(a) or 15(d) of the Exchange Act since the filing of its last Annual Report on Form 20-F, indicating that it (i) has failed to pay any dividend or sinking fund installment on preferred shares or (ii) has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aaa) <u>Books and Records</u>. The minute books of the Company have been made available to the Sales Agent and counsel for the Sales Agent, and such books (i) contain a substantially complete summary of all meetings and material actions of the board of directors (including each board committee) and shareholders of the Company (or analogous governing bodies and interest holders, as applicable) for the 12 months prior to the date hereof through the date of the latest meeting and action, and (ii) accurately in all material respects reflect all transactions referred to in such minutes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bbb) <u>Regulations</u>. The statements set forth in the Registration Statement and the Prospectus, insofar as they purport to constitute summaries of the federal, state, local and foreign regulation applicable to the Company's business as described in the Registration Statement or Prospectus are correct in all material respects and no other such regulations are required to be disclosed in the Registration Statement and the Prospectus which are not so disclosed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ccc) <u>Confidentiality and Non-Competitions</u>. To the Company's knowledge, no director, officer, key employee or consultant of the Company is subject to any confidentiality, non-disclosure, non-competition agreement or non-solicitation agreement with any employer or prior employer that could reasonably be expected to materially affect his ability to be and act in his respective capacity of the Company or be expected to result in a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ddd) <u>PFIC Status</u>. The Company believes that it was not a "passive foreign investment company" ("**<u>PFIC</u>**") as defined in Section 1297 of the U.S. Internal Revenue Code of 1986, as amended, for the taxable year ended December 31, 2024 and, based on certain estimates of the Company's gross income and the value of its assets, the intended use of proceeds from the offering and sale of the Placement Shares and the nature of the Company's business, the Company does not expect to be classified as a PFIC for the taxable year ended December 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(eee) <u>CFC Status</u>. The Company was not a "controlled foreign corporation" ("**<u>CFC</u>**") as defined in the U.S. Internal Revenue Code of 1986, as amended, for the taxable year ended December 31, 2024 and, based on the Company's expectations with respect to its shareholders, the Company does not expect to be classified as a CFC for the taxable year ending December 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(fff) <u>Cybersecurity</u>. Except as would not, individually or in the aggregate, have a Material Adverse Effect, (i) the Company and the Subsidiaries are presently in compliance with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual obligations relating to the privacy and security of the Company's or any Subsidiary's information technology and computer systems, networks, hardware, software, data (including the data of its respective customers, employees, suppliers, vendors and any third party data maintained by or on behalf of it), equipment or technology (collectively, "**<u>IT Systems and Data</u>**") and to the protection of such IT Systems and Data from unauthorized use, access, misappropriation or modification; (ii) the Company and the Subsidiaries have implemented and maintained commercially reasonable safeguards to maintain and protect their respective material confidential information and the integrity, continuous operation, redundancy and security of all IT Systems and Data; and (iii) the Company and the Subsidiaries have implemented backup and disaster recovery technology consistent with commercially reasonable industry standards and practices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ggg) <u>Validity of Choice of Law</u>. The choice of the laws of the State of New York as the governing law of this Agreement is a valid choice of law under the laws of the Cayman Islands and is expected to be honored by courts in the Cayman Islands subject to the conditions mentioned in Section (hhh) below regarding the enforceability of foreign civil judgments. The Company has the power to submit, and pursuant to this Agreement, has legally, validly, effectively and irrevocably submitted, to the personal jurisdiction of each the State of New York and United States Federal court sitting in New York County (each, a "**<u>New York Court</u>**") and has validly and irrevocably waived any objection to the laying of venue of any suit, action or proceeding brought in any such court; and the Company has the power to designate, appoint and empower, and pursuant to this Agreement, has legally, validly, effectively and irrevocably designated, appointed and empowered, an authorized agent for service of process in any action arising out of or relating to this Agreement, or the offering of the Placement Shares in any New York Court, and service of process effected on such authorized agent will be effective to confer valid personal jurisdiction over the Company as provided in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hhh) <u>Enforceability of Judgments</u>. Any final judgment for a fixed sum of money rendered by any U.S. federal or New York state court located in the State of New York having jurisdiction under its own laws in respect of any suit, action or proceeding against the Company based upon this Agreement and the Placement Shares may be recognized and enforced against the Company in the Cayman Islands under common law subject to the conditions for enforceability of civil liabilities described in the Registration Statement.

Any certificate signed by an officer of the Company and delivered to the Sales Agent or to counsel for the Sales Agent pursuant to or in connection with this Agreement shall be deemed to be a representation and warranty by the Company to the Sales Agent as to the matters set forth therein.

The Company acknowledges that the Sales Agent and, for purposes of the opinions to be delivered pursuant to <u>Section 7</u> hereof, counsel to the Company and counsel to the Sales Agent, will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such reliance.

7A. <u>Covenants of the Company</u>. The Company covenants and agrees with the Sales Agent that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Registration Statement Amendments</u>. After the date of this Agreement and during any period in which the Prospectus relating to any Placement Shares is required to be delivered by the Sales Agent under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), (i) the Company will notify the Sales Agent promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any subsequent supplement to the Prospectus, other than documents incorporated by reference, has been filed and of any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information; (ii) the Company will prepare and file with the Commission, promptly upon the Sales Agent's reasonable request, any amendments or supplements to the Registration Statement or Prospectus that, in the Sales Agent's reasonable opinion, may be necessary or advisable in connection with the distribution of the Placement Shares by the Sales Agent (*provided*, *however*, that the failure of the Sales Agent to make such request shall not relieve the Company of any obligation or liability hereunder, or affect the Sales Agent's right to rely on the representations and warranties made by the Company in this Agreement, and *provided*, *further*, that the only remedy the Sales Agent shall have with respect to the failure to make such filing shall be to cease making sales under this Agreement until such amendment or supplement is filed); (iii) the Company will not file any amendment or supplement to the Registration Statement or Prospectus, other than documents incorporated by reference, relating to the Placement Shares or a security convertible into the Placement Shares unless a copy thereof has been submitted to the Sales Agent within a reasonable period of time before the filing and the Sales Agent has not reasonably objected thereto (*provided*, *however*, that the failure of the Sales Agent to make such objection shall not relieve the Company of any obligation or liability hereunder, or affect the Sales Agent's right to rely on the representations and warranties made by the Company in this Agreement, and *provided*, *further*, that the only remedy the Sales Agent shall have with respect to the failure by the Company to obtain such consent shall be to cease making sales under this Agreement); (iv) the Company will furnish to the Sales Agent at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR; and (v) the Company will cause each amendment or supplement to the Prospectus, other than documents incorporated by reference, to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act (without reliance on Rule 424(b)(8) of the Securities Act) or, in the case of any documents incorporated by reference, to be filed with the Commission as required pursuant to the Exchange Act, within the time period prescribed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Notice of Commission Stop Orders</u>. The Company will advise the Sales Agent, promptly after it receives notice, or obtains knowledge, of (i) the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement, (ii) the suspension of the qualification of the Placement Shares for offering or sale in any jurisdiction, (iii) the initiation of any proceeding for any such purpose or any examination pursuant to Section 8(e) of the Securities Act, or (iv) the Company becoming subject of a proceeding under Section 8A of the Securities Act in connection with the offering of the Placement Shares; and it will promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal if such a stop order should be issued. Until such time as any stop order is lifted, the Sales Agent shall cease making offers and sales under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Delivery of Prospectus; Subsequent Changes</u>. During any period in which a Prospectus relating to the Placement Shares is required to be delivered by the Sales Agent under the Securities Act with respect to the offer and sale of the Placement Shares (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), the Company will comply in all material respects with all requirements imposed upon it by the Securities Act, as from time to time in force, and will file on or before their respective due dates (taking into account any extensions available under the Exchange Act) all reports and any definitive proxy or information statements required to be filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, 15(d) or any other provision of or under the Exchange Act. If during such period any event occurs as a result of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances then existing, not misleading, or if during such period it is necessary to amend or supplement the Registration Statement or Prospectus to comply with the Securities Act, the Company will promptly notify the Sales Agent to suspend the offering of Placement Shares during such period and the Company will promptly amend or supplement the Registration Statement or Prospectus (at the expense of the Company) so as to correct such statement or omission or effect such compliance; *provided*, *however*, that the Company may delay any such amendment or supplement if, in the reasonable judgment of the Company, it is in the best interests of the Company to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Listing of Placement Shares</u>. During any period in which the Prospectus relating to the Placement Shares is required to be delivered by the Sales Agent under the Securities Act with respect to the offer and sale of the Placement Shares (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), the Company will use its commercially reasonable efforts to cause the Placement Shares to be listed on the Exchange and to qualify the Placement Shares for sale under the securities laws of such jurisdictions as the Sales Agent reasonably designates and to continue such qualifications in effect so long as required for the distribution of the Placement Shares; provided, however, that the Company shall not be required in connection therewith to (i) qualify as a foreign corporation or dealer in securities, (ii) execute or file a general consent to service of process in any jurisdiction, or (iii) subject itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Delivery of Registration Statement and Prospectus</u>. The Company will furnish to the Sales Agent and its counsel (at the expense of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or Prospectus that are filed with the Commission during any period in which a Prospectus relating to the Placement Shares is required to be delivered under the Securities Act (including all documents filed with the Commission during such period that are deemed to be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities as the Sales Agent may from time to time reasonably request and, at the Sales Agent's request, will also furnish copies of the Prospectus to each exchange or market on which sales of the Placement Shares may be made; *provided*, *however*, that the Company shall not be required to furnish any document to the Sales Agent to the extent such document is available on EDGAR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Earnings Statement</u>. The Company will make generally available to its security holders as soon as practicable, but in any event not later than 15 months (or 16 months, if permitted by Commission rules) after the end of the Company's current fiscal year, an earnings statement of the Company (which need not be audited) covering a 12-month period that satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 under the Securities Act. The terms "earnings statement" and "make generally available to its security holders" shall have the meanings set forth in Rule 158 under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Expenses</u>. The Company, whether or not the transactions contemplated hereunder are consummated or this Agreement is terminated in accordance with the provisions of <u>Section 11</u> hereunder, will pay the following expenses incident to the performance of its obligations hereunder, including, but not limited to, expenses relating to (i) the preparation, printing and filing of the Registration Statement and each amendment and supplement thereto, of each Prospectus and of each amendment and supplement thereto, (ii) the preparation, issuance and delivery of the Placement Shares, including any stock or other transfer taxes and any stamp or other duties payable upon the sale, issuance or delivery of the Placement Shares to the Sales Agent, (iii) the fees and disbursements of the counsel, accountants and other advisors to the Company in connection with the transactions contemplated by this Agreement; (iv) the qualification of the Placement Shares under securities laws in accordance with the provisions of <u>Section 7(d)</u> of this Agreement, including filing fees (provided, however, that any fees or disbursements of counsel for the Sales Agent in connection therewith shall be paid by the Sales Agent except as set forth in (ix) below), (v) the printing and delivery to the Sales Agent of copies of the Prospectus and any amendments or supplements thereto, and of this Agreement, (vi) the fees and expenses incurred in connection with the listing or qualification of the Placement Shares for trading on the Exchange, (vii) the fees and expenses of the transfer agent or registrar for the Ordinary Shares; (viii) filing fees and expenses, if any, of the Commission and the FINRA Corporate Financing Department (*provided*, *however*, that any fees or disbursements of counsel for the Sales Agent in connection therewith shall be paid by the Sales Agent except as set forth in (viii) herein), (ix) the Company shall reimburse the Sales Agent for its reasonable and documented out-of-pocket expenses (including, but not limited to, the Sales Agent's transaction costs and the reasonable and documented fees and expenses of counsel to the Sales Agent) in an amount not to exceed $40,000 (the "**<u>Sales Agent Expenses</u>**"), *provided further* that the Company shall reimburse the Sales Agent for its reasonable and documented out-of-pocket expenses related to annual maintenance of the Agreement (including, but not limited to, the Sales Agent's transaction costs and the reasonable and documented fees and expenses of counsel to the Sales Agent) on an annual basis in an amount not to exceed $20,000, which shall be due and payable prior to each Representation Date following the filing of an annual report on Form 20-F.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Use of Proceeds</u>. The Company will use the Net Proceeds as described in the Prospectus in the section entitled "Use of Proceeds."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Notice of Other Sales</u>. The Company (I) shall provide the Sales Agent notice as promptly as reasonably possible before it offers to sell, contracts to sell, sells, grants any option to sell or otherwise disposes of any Ordinary Shares (other than Placement Shares offered pursuant to the provisions of this Agreement) or securities convertible into or exchangeable for Ordinary Shares, or warrants or any rights to purchase or acquire Ordinary Shares, during the period beginning on the fifth (5<sup>th</sup>) Trading Day immediately prior to the date on which any Placement Notice is delivered to the Sales Agent hereunder and ending on the third (3<sup>rd</sup>) Trading Day immediately following the final Settlement Date with respect to Placement Shares sold pursuant to such Placement Notice (or, if the Placement Notice has been terminated or suspended prior to the sale of all Placement Shares covered by a Placement Notice, the third (3<sup>rd</sup>) Trading Day immediately following the date of such suspension or termination), and (II) will not directly or indirectly engage in any other "at-the-market" or continuous equity transaction (other than equity line transactions) offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Ordinary Shares (other than the Placement Shares offered pursuant to this Agreement) or securities convertible into or exchangeable for Ordinary Shares, warrants or any rights to purchase or acquire, Ordinary Shares prior to the termination of this Agreement without the prior written consent of the Sales Agent; *provided*, *however*, that such notice requirements or restrictions, as the case may be, will not be required in connection with the Company's issuance or sale of (i) Ordinary Shares, options to purchase Ordinary Shares or other securities, or grants of any of the foregoing, issuable under the Company's then existing equity incentive plans, or Ordinary Shares issuable upon the exercise of options or vesting other securities, pursuant to any employee or director stock option or benefits plan, stock ownership plan or dividend reinvestment plan of the Company whether now in effect or hereafter implemented, (ii) Ordinary Shares issuable upon exchange, conversion or redemption of securities or the exercise of warrants, options or other rights in effect or outstanding, and disclosed in filings by the Company available on EDGAR or otherwise in writing (including by email correspondence) to the Sales Agent, (iii) Ordinary Shares or securities convertible into or exchangeable for Ordinary Shares as consideration for mergers, acquisitions, sale or purchase of assets or other business combinations occurring after the date of this Agreement which are not issued for capital raising purposes, (iv) Ordinary Shares, offered and sold in a privately negotiated transaction to vendors, customers, lenders, strategic partners or potential strategic partners or other investors conducted in a manner so as not to be integrated with the offering hereby, and (v) Ordinary Shares in connection with any acquisition, debt financing, strategic investment or other similar transaction (including any joint venture, strategic alliance or partnership); provided, however that any such transaction shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities. Notwithstanding the foregoing, the Company shall provide the Sales Agent notice at least two (2) days prior to pursuing any private or public offerings of equity and/or other securities (including debt securities) in one or more transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Change of Circumstances</u>. The Company will, at any time during the pendency of a Placement Notice advise the Sales Agent promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion, certificate, letter or other document provided to the Sales Agent pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Due Diligence Cooperation</u>. During the term of this Agreement, the Company will cooperate with any reasonable due diligence review conducted by the Sales Agent or its agents in connection with the transactions contemplated hereby, including, without limitation, providing information and making available documents and senior corporate officers, during regular business hours and at the Company's principal offices, as the Sales Agent may reasonably request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Required Filings Relating to Placement of Placement Shares</u>. The Company shall set forth in each Annual Report on Form 20-F or Report on Form 6-K filed by the Company with the Commission in respect of any semi-annual period in which sales of Placement Shares were made by or through the Sales Agent under this Agreement, with regard to the relevant period, the number or amount of Placement Shares sold to or through the Sales Agent, the Net Proceeds to the Company and the compensation payable by the Company to the Sales Agent with respect to such sales of Placement Shares. To the extent that the filing of a prospectus supplement with the Commission with respect to any sales of Placement Shares becomes required under Rule 424(b) under the Securities Act, the Company agrees that, on or before such dates as the Securities Act shall require, the Company will (i) file a prospectus supplement with the Commission under the applicable paragraph of Rule 424(b) under the Securities Act, which prospectus supplement will set forth, with regard to the relevant period, the number or amount of Placement Shares sold to or through the Sales Agent, the Net Proceeds to the Company and the compensation payable by the Company to the Sales Agent with respect to such Placement Shares, and (ii) deliver such number of copies of each such prospectus supplement to each exchange or market on which such sales were effected as may be required by the rules or regulations of such exchange or market. The Company shall afford the Sales Agent and its counsel with a reasonable opportunity to review and comment upon, shall consult with the Sales Agent and its counsel on the form and substance of, and shall give due consideration to all such comments from the Sales Agent or its counsel on, any such filing prior to the issuance, filing or public disclosure thereof; provided, however, that the Company shall not be required to submit for review (A) any portion of any periodic reports filed with the Commission under the Exchange Act and (B) any disclosure contained in periodic reports filed with the Commission under the Exchange Act if it shall have previously provided the same disclosure for review in connection with a previous filing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Representation Dates; Certificate</u>. On or prior to the date on which the first Placement Notice is delivered by the Company hereunder and each time the Company (i) amends or supplements the Registration Statement or the Prospectus relating to the Placement Shares (other than (A) a prospectus supplement filed in accordance with <u>Section 7(l)</u> of this Agreement or (B) relating to an offering of securities other than the Placement Shares) by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of document(s) by reference into the Registration Statement or the Prospectus relating to the Placement Shares; (ii) files an annual report on Form 20-F under the Exchange Act (including any Form 20-F/A containing amended financial information or a material amendment to the previously filed Form 20-F); (iii) files a Form 6-K under the Exchange Act containing interim financial statements that is incorporated by reference into the Registration Statement; or (iv) files or furnishes a report on Form 6-K containing amended financial information (other than an earnings release) under the Exchange Act (each date of filing of one or more of the documents referred to in clauses (i) through (iv) shall be a "**<u>Representation Date</u>**"), the Company shall furnish the Sales Agent (but in the case of clause (iv) above, only if the Sales Agent reasonably determines that the information contained in such current report on Form 6-K of the Company is material) within three (3) Trading Days after each Representation Date with a certificate, substantially in the form attached hereto as <u>Exhibit 7(m)</u> (modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented). The requirement to provide a certificate under this <u>Section 7(m)</u> shall be waived for any Representation Date occurring at a time at which no Placement Notice is pending, which waiver shall continue until the earlier to occur of the date the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date. Notwithstanding the foregoing, if the Company subsequently decides to sell Placement Shares following a Representation Date when the Company relied on such waiver and did not provide the Sales Agent with a certificate under this <u>Section 7(m)</u>, then before the Company delivers the Placement Notice or the Sales Agent sells any Placement Shares pursuant thereto, the Company shall provide the Sales Agent with a certificate, in the form attached hereto as <u>Exhibit 7(m)</u>, dated the date of such Placement Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Legal Opinion</u>. On or prior to the date the first Placement Notice is delivered by the Company hereunder, the Company shall cause to be furnished to the Sales Agent (i) the written opinion and negative assurance of Loeb & Loeb LLP, as U.S. counsel to the Company, or other counsel reasonably satisfactory to the Sales Agent ("**<u>SEC Counsel</u>**") and (ii) the written opinion of Harney Westwood & Riegels Singapore LLP, as Cayman Islands counsel to the Company, or other counsel reasonably satisfactory to the Sales Agent ("**<u>Cayman Islands Counsel</u>**"), in each case substantially in the forms previously agreed between the Company and the Sales Agent. Thereafter, after each Representation Date with respect to which the Company is obligated to deliver a certificate pursuant to <u>Section 7(m)</u> for which no waiver is applicable pursuant to <u>Section 7(m)</u>, the Company shall cause to be furnished to the Sales Agent the written opinion and the negative assurance letter of SEC Counsel and the written opinion of Cayman Islands Counsel substantially in the forms previously agreed between the Company and the Sales Agent, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented. Notwithstanding the foregoing, if SEC Counsel has previously furnished to the Sales Agent such written opinions and negative assurance of such counsel, and if Cayman Islands Counsel has previously furnished to the Sales Agent such written opinions of such counsel, in each case substantially in the forms previously agreed between the Company and the Sales Agent, then SEC Counsel and Cayman Islands Counsel may, in respect of any future Representation Date, furnish the Sales Agent with a letter signed by such counsel (each, a "**<u>Reliance Letter</u>**") in lieu of such written opinions and negative assurance letter of such counsel (as applicable) to the effect that the Sales Agent may rely on the prior written opinions and negative assurance (as applicable) letter of such counsel (as applicable) delivered pursuant to this <u>Section 7(n)</u> to the same extent as if it were dated the date of such Reliance Letter (except that statements in such prior written opinions and negative assurance letter shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented as of the date of such Reliance Letter).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Comfort Letter</u>. On or prior to the date the first Placement Notice is given hereunder and after each subsequent Representation Date with respect to which the Company is obligated to deliver a certificate pursuant to <u>Section 7(m)</u> for which no waiver is applicable pursuant to <u>Section 7(m)</u>, other than a Representation Date under <u>Section 7(m)(iii)</u> or <u>Section 7(m)(iv)</u> unless with respect to a Representation Date under <u>Section 7(m)(iv)</u> the Sales Agent reasonably requests delivery thereof, the Company shall cause its independent accountants to furnish the Sales Agent letters (the "**<u>Comfort Letters</u>**"), dated the date that the Comfort Letter is delivered, in form and substance reasonably satisfactory to the Sales Agent, (i) confirming that they are an independent registered public accounting firm within the meaning of the Securities Act, the Exchange Act and the rules and regulations of the PCAOB and are in compliance with the applicable requirements relating to the qualification of accountants under Rule 2-01 of Regulation S-X of the Commission, (ii) stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants' "comfort letters" to the Sales Agent in connection with registered public offerings (the first such letter, the "**<u>Initial Comfort Letter</u>**") and (iii) updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>Market Activities</u>. The Company will not, directly or indirectly, (i) take any action designed to cause or result in, or that constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Ordinary Shares or (ii) sell, bid for, or purchase Ordinary Shares in violation of Regulation M, or pay anyone any compensation for soliciting purchases of the Placement Shares other than the Sales Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) <u>Insurance</u>. The Company shall maintain insurance in such amounts and covering such risks as is reasonable and customary for the business in which it is engaged.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) <u>Investment Company Act</u>. The Company will conduct its affairs in such a manner so as to reasonably ensure that it is not and, after giving effect to the offering and sale of the Placement Shares and the application of proceeds therefrom as described in the Prospectus, will not be, an "investment company" within the meaning of such term under the Investment Company Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) <u>Securities Act and Exchange Act</u>. The Company will use its reasonable best efforts to comply with all requirements imposed upon it by the Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Placement Shares as contemplated by the provisions hereof and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) <u>No Offer to Sell</u>. Other than the Prospectus and an Issuer Free Writing Prospectus approved in advance by the Company and the Sales Agent in its capacity as principal or agent hereunder, neither the Sales Agent nor the Company (including its agents and representatives, other than the Sales Agent in its capacity as such) will make, use, prepare, authorize, approve or refer to any written communication (as defined in Rule 405 under the Securities Act), required to be filed with the Commission, that constitutes an offer to sell or solicitation of an offer to buy Placement Shares hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) <u>Sarbanes-Oxley Act</u>. The Company will use its reasonable best efforts to comply with all then effective and applicable provisions of the Sarbanes-Oxley Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>Transfer Agent</u>. The Company shall maintain, at its sole expense, a registrar and transfer agent for the Ordinary Shares.

7B. <u>Representations and Covenants of the Sales Agent</u>. The Sales Agent represents and warrants that it is duly registered as a broker-dealer under FINRA, the Exchange Act and the applicable statutes and regulations of each state in which the Placement Shares will be offered and sold, except such states in which the Sales Agent is exempt from registration or such registration is not otherwise required. The Sales Agent shall continue, for the term of this Agreement, to be duly registered as a broker-dealer under FINRA, the Exchange Act and the applicable statutes and regulations of each state in which the Placement Shares will be offered and sold, except such states in which the Sales Agent is exempt from registration or such registration is not otherwise required, during the term of this Agreement. The Sales Agent shall comply with all applicable laws and regulations, including without limitation Regulation M, in connection with the transactions contemplated by this Agreement, including the issuance and sale through the Sales Agent of the Placement Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Conditions to the Sales Agent's Obligations</u>. The obligations of the Sales Agent hereunder with respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein (other than those representations and warranties made as of a specified date or time), to the due performance in all material respects by the Company of its obligations hereunder, to the completion by the Sales Agent of a due diligence review satisfactory to the Sales Agent in its reasonable judgment, and to the continuing satisfaction (or waiver by the Sales Agent in its sole discretion) of the following additional conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Registration Statement Effective</u>. The Registration Statement shall be effective and shall be available for the sale of all Placement Shares contemplated to be issued by any Placement Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Securities Act Filings Made</u>. The Company shall have filed with the Commission the ATM Prospectus pursuant to Rule 424(b) under the Securities Act not later than the Commission's close of business on the second Business Day following the date of this Agreement. All other filings with the Commission required by Rule 424(b) or Rule 433 under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule 424(b) (without reliance on Rule 424(b)(8) of the Securities Act) or Rule 433, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Material Notices</u>. None of the following events shall have occurred and be continuing: (i) receipt by the Company of any request for additional information from the Commission or any other federal or state governmental authority during the period of effectiveness of the Registration Statement, the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii) the issuance by the Commission or any other federal or state governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Placement Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; (iv) the occurrence of any event that makes any material statement made in the Registration Statement or the Prospectus or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, the Prospectus or any documents incorporated by reference or deemed to be incorporated by reference so that, in the case of the Registration Statement, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and, in the case of the Prospectus, so that it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>No Misstatement or Material Omission</u>. The Sales Agent shall not have advised the Company that the Registration Statement or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in the Sales Agent's reasonable opinion is material, or omits to state a fact that in the Sales Agent's reasonable opinion is material and is required to be stated therein or is necessary to make the statements therein not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Material Changes</u>. Except as contemplated in the Registration Statement and the Prospectus, or disclosed in the Company's reports filed with the Commission, there shall not have been any material adverse change in the authorized capital stock of the Company or any Material Adverse Change or any development that could reasonably be expected to result in a Material Adverse Change, the effect of which, in the reasonable judgment of the Sales Agent (without relieving the Company of any obligation or liability it may otherwise have), is so material as to make it impracticable or inadvisable to proceed with the offering of the Placement Shares on the terms and in the manner contemplated by this Agreement and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Representation Certificate</u>. The Sales Agent shall have received the certificate required to be delivered pursuant to <u>Section 7(m)</u> on or before the date on which delivery of such certificate is required pursuant to <u>Section 7(m)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Legal Opinions</u>. The Sales Agent shall have received the opinion and/or negative assurance of SEC Counsel as required by <u>Section 7(n)</u> hereof and the opinion of Cayman Islands Counsel required to be delivered pursuant <u>Section 7(n)</u> on or before the date on which such delivery of such opinion and negative assurance is required pursuant to <u>Section 7(n)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Comfort Letter</u>. The Sales Agent shall have received the Comfort Letter required to be delivered pursuant <u>Section 7(o)</u> on or before the date on which such delivery of such Comfort Letter is required pursuant to <u>Section 7(o)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Secretary's Certificate</u>. On or prior to the date the first Placement Notice is given hereunder, the Sales Agent shall have received a certificate, signed on behalf of the Company by an officer of the Company, certifying as to (i) the articles of association of the Company (as the same may be amended or restated from time to time), (ii) the resolutions of the Board of Directors of the Company (or a committee thereof) authorizing the execution, delivery and performance of this Agreement and the issuance of the Placement Shares and (iii) the incumbency of the officers duly authorized to execute this Agreement and the other documents contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>No Suspension</u>. Trading in the Ordinary Shares shall not have been suspended on the Exchange and the Ordinary Shares shall not have been delisted from the Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Other Materials</u>. On each date on which the Company is required to deliver a certificate pursuant to <u>Section 7(m)</u>, the Company shall have furnished to the Sales Agent such appropriate further opinions, certificates, letters and documents as the Sales Agent may reasonably request and which are usually and customarily furnished by an issuer of securities in connection with a securities offering of the type contemplated hereby. All such opinions, certificates, letters and other documents shall have been in compliance with the provisions hereof. The Company will furnish the Sales Agent with such conformed copies of such opinions, certificates, letters and other documents as the Sales Agent shall have reasonably requested.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>No Termination Event</u>. There shall not have occurred any event that would permit the Sales Agent to terminate this Agreement pursuant to <u>Section 11(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>FINRA</u>. The Sales Agent shall have received a letter from the Corporate Financing Department of FINRA confirming that such department has determined to raise no objection with respect to the fairness or reasonableness of the terms and arrangements related to the sale of the Placement Shares pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Indemnification and Contribution</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Company Indemnification</u>. The Company agrees to indemnify and hold harmless the Sales Agent, the directors, officers, members, partners, employees and agents of the Sales Agent each broker dealer affiliate of the Sales Agent, and each Sales Agent Affiliate, if any, from and against any and all losses, claims, liabilities, expenses and damages (including, but not limited to, any and all reasonable and documented investigative, legal and other expenses incurred in connection with, and any and all amounts paid in settlement (in accordance with <u>Section 9(c)</u>) of, any action, suit or proceeding between any of the indemnified parties and any indemnifying parties or between any indemnified party and any third party, or otherwise, or any claim asserted), as and when incurred, to which the Sales Agent, or any such person, may become subject under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, liabilities, expenses or damages arise out of or are based, directly or indirectly, on (x) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or the Prospectus or any amendment or supplement thereto or in any Issuer Free Writing Prospectus, (y) the omission or alleged omission to state in any such document a material fact required to be stated in it or necessary to make the statements in it not misleading or (z) any breach by any of the indemnifying parties of any of their respective representations, warranties and agreements contained in this Agreement; *provided, however*, that this indemnity agreement shall not apply to the extent that such loss, claim, liability, expense or damage arises from the sale of the Placement Shares pursuant to this Agreement and is caused directly by an untrue statement or omission made in reliance upon and in strict conformity with written information relating to the Sales Agent and furnished to the Company by the Sales Agent expressly for inclusion in any document as described in clause (x) of this <u>Section 9(a)</u>. This indemnity agreement will be in addition to any liability that the Company might otherwise have.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>The Sales Agent Indemnification</u>. The Sales Agent agrees to indemnify and hold harmless the Company and its directors and each officer of the Company that signed the Registration Statement, and each person, if any, who (i) controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act or (ii) is controlled by or is under common control with the Company (each, a "**<u>Company Affiliate</u>**") from and against any and all losses, claims, liabilities, expenses and damages (including, but not limited to, any and all reasonable and documented investigative, legal and other expenses incurred in connection with, and any and all amounts paid in settlement (in accordance with <u>Section 9(c)</u>) of, any action, suit or proceeding between any of the indemnified parties and any indemnifying parties or between any indemnified party and any third party, or otherwise, or any claim asserted), as and when incurred, to which any such Company Affiliate, may become subject under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, liabilities, expenses or damages arise out of or are based, directly or indirectly, on (x) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or the Prospectus or any amendment or supplement thereto, or (y) the omission or alleged omission to state in any such document a material fact required to be stated in it or necessary to make the statements in it not misleading; *provided*, *however*, that this indemnity agreement shall apply only to the extent that such loss, claim, liability, expense or damage is caused directly by an untrue statement or omission made in reliance upon and in strict conformity with written information relating to the Sales Agent and furnished to the Company by the Sales Agent expressly for inclusion in any document as described in clause (x) of this <u>Section 9(b)</u> (it being understood and agreed that the statements set forth in the ninth and tenth paragraphs under the heading "Plan of Distribution" in the ATM Prospectus were provided in writing by the Sales Agent to the Company for inclusion in the ATM Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Procedure</u>. Any party that proposes to assert the right to be indemnified under this <u>Section 9</u> will, promptly after receipt of notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying party or parties under this <u>Section 9</u>, notify each such indemnifying party of the commencement of such action, enclosing a copy of all papers served, but the omission so to notify such indemnifying party will not relieve the indemnifying party from (i) any liability that it might have to any indemnified party otherwise than under this <u>Section 9</u> and (ii) any liability that it may have to any indemnified party under the foregoing provision of this <u>Section 9</u> unless, and only to the extent that, such omission results in the forfeiture of substantive rights or defenses by the indemnifying party. If any such action is brought against any indemnified party and it notifies the indemnifying party of its commencement, the indemnifying party will be entitled to participate in and, to the extent that it elects by delivering written notice to the indemnified party promptly after receiving notice of the commencement of the action from the indemnified party, jointly with any other indemnifying party similarly notified, to assume the defense of the action, with counsel reasonably satisfactory to the indemnified party, and after notice from the indemnifying party to the indemnified party of its election to assume the defense, the indemnifying party will not be liable to the indemnified party for any legal or other expenses except as provided below and except for the reasonable costs of investigation subsequently incurred by the indemnified party in connection with the defense. The indemnified party will have the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel will be at the expense of such indemnified party unless (1) the employment of counsel by the indemnified party has been authorized in writing by the indemnifying party, (2) the indemnified party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, (3) a conflict or potential conflict of interest exists (based on advice of counsel to the indemnified party) between the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified party) or (4) the indemnifying party has not in fact employed counsel reasonably satisfactory to the indemnified party to assume the defense of such action within a reasonable time after receiving notice of the commencement of the action, in each of which cases the reasonable and documented out-of-pocket fees, disbursements and other charges of counsel will be at the expense of the indemnifying party or parties. It is understood that the indemnifying party or parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable and documented out-of-pocket fees, disbursements and other charges of more than one separate firm admitted to practice in such jurisdiction at any one time for all such indemnified party or parties. All such reasonable and documented out-of-pocket fees, disbursements and other charges will be reimbursed by the indemnifying party promptly after the indemnifying party received a written invoice relating to such fees, disbursements and other charges in reasonable detail. An indemnifying party will not, in any event, be liable for any settlement of any action or claim effected without its written consent. No indemnifying party shall, without the prior written consent of each indemnified party, settle or compromise or consent to the entry of any judgment in any pending or threatened claim, action or proceeding relating to the matters contemplated by this <u>Section 9</u> (whether or not any indemnified party is a party thereto), unless such settlement, compromise or consent (1) includes an unconditional release of each indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability arising or that may arise out of such claim, action or proceeding and (2) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of an indemnified party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Contribution</u>. In order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing paragraphs of this <u>Section 9</u> is applicable in accordance with its terms but for any reason is held to be unavailable from the Company or the Sales Agent, the Company and the Sales Agent will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative, legal and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted, but after deducting any contribution received by the Company or the Sales Agent from persons other than the Company or the Sales Agent, as applicable, such as persons who control the Company or the Sales Agent, as applicable, within the meaning of the Securities Act, and only with respect to the Company, officers of the Company who signed the Registration Statement and directors of the Company, who also may be liable for contribution) to which the Company and the Sales Agent may be subject in such proportion as shall be appropriate to reflect the relative benefits received by the Company on the one hand and the Sales Agent on the other hand. The relative benefits received by the Company on the one hand and the Sales Agent on the other hand shall be deemed to be in the same proportion as the total Net Proceeds from the sale of the Placement Shares (before deducting expenses) received by the Company bear to the total compensation received by the Sales Agent from the sale of Placement Shares on behalf of the Company. If, but only if, the allocation provided by the foregoing sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault of the Company, on the one hand, and the Sales Agent, on the other hand, with respect to the statements or omission that resulted in such loss, claim, liability, expense or damage, or action in respect thereof, as well as any other relevant equitable considerations with respect to such offering. Such relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or the Sales Agent, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Sales Agent agree that it would not be just and equitable if contributions pursuant to this <u>Section 9(d)</u> were to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid or payable by an indemnified party as a result of the loss, claim, liability, expense, or damage, or action in respect thereof, referred to above in this <u>Section 9(d)</u> shall be deemed to include, for the purpose of this <u>Section 9(d)</u>, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim to the extent consistent with <u>Section 9(c)</u> hereof. Notwithstanding the foregoing provisions of this <u>Section 9(d)</u>, the Sales Agent shall not be required to contribute any amount in excess of the commissions received by it under this Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this <u>Section 9(d)</u>, each Company Affiliate and Sales Agent Affiliate will have the same rights to contribution as the Company and Sales Agent, respectively, and each officer of the Company who signed the Registration Statement and each director of the Company will have the same rights to contribution as the Company, subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of any action against such party in respect of which a claim for contribution may be made under this <u>Section 9(d)</u>, will notify any such party or parties from whom contribution may be sought, but the omission to so notify will not relieve that party or parties from whom contribution may be sought from any other obligation it or they may have under this <u>Section 9(d)</u> except to the extent that the failure to so notify such other party materially prejudiced the substantive rights or defenses of the party from whom contribution is sought. Except for a settlement entered into pursuant to the last sentence of <u>Section 9(c)</u> hereof, no party will be liable for contribution with respect to any action or claim settled without its written consent if such consent is required pursuant to <u>Section 9(c)</u> hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Representations and Agreements to Survive Delivery</u>. The indemnity and contribution agreements contained in <u>Section 9</u> of this Agreement and all representations and warranties of the Company herein or in certificates delivered pursuant hereto shall survive, as of their respective dates, regardless of (i) any investigation made by or on behalf of the Sales Agent, any controlling person of the Sales Agent, or the Company (or any of their respective officers, directors, members or controlling persons), (ii) delivery and acceptance of the Placement Shares and payment therefor or (iii) any termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Sales Agent shall have the right by giving notice as hereinafter specified at any time to terminate this Agreement if: (i) any Material Adverse Change, or any development that could reasonably be expected to result in a Material Adverse Change has occurred that, in the reasonable judgment of the Sales Agent, may materially impair the ability of the Sales Agent to sell the Placement Shares hereunder, (ii) the Company shall have failed, refused or been unable to perform any agreement on its part to be performed hereunder; *provided*, *however*, in the case of any failure of the Company to deliver (or cause another person to deliver) any certification, opinion, or letter required under <u>Sections 7(m)</u>, <u>7(n)</u>, <u>7(o)</u> or <u>7(p)</u>, the Sales Agent's right to terminate shall not arise unless such failure to deliver (or cause to be delivered) continues for more than thirty (30) days from the date such delivery was required, (iii) any other condition of the Sales Agent's obligations hereunder is not fulfilled, or (iv) any suspension or limitation of trading in the Placement Shares or in securities generally on the Exchange shall have occurred (including automatic halt in trading pursuant to market-decline triggers, other than those in which solely program trading is temporarily halted), or a major disruption of securities settlements or clearing services in the United States shall have occurred, or minimum prices for trading have been fixed on the Exchange. Any such termination shall be without liability of any party to any other party except that the provisions of <u>Section 7(g)</u> (Expenses), <u>Section 9</u> (Indemnification and Contribution), <u>Section 10</u> (Representations and Agreements to Survive Delivery), <u>Section 11(f)</u>, <u>Section 16</u> (Applicable Law; Consent to Jurisdiction), <u>Section 17</u> (Appointment of Agent for Service) and <u>Section 18</u> (Waiver of Jury Trial) hereof shall remain in full force and effect notwithstanding such termination. If the Sales Agent elects to terminate this Agreement as provided in this <u>Section 11(a)</u>, the Sales Agent shall provide the required notice as specified in <u>Section 12</u> (Notices).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall have the right, by giving five (5) days' notice as hereinafter specified in <u>Section 12</u>, to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the provisions of <u>Section 7(g)</u>, <u>Section 9</u>, <u>Section 10</u>, <u>Section 11(f)</u>, <u>Section 16</u>, <u>Section 17</u> and <u>Section 18</u> hereof shall remain in full force and effect notwithstanding such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Sales Agent shall have the right, by giving five (5) days' notice as hereinafter specified in <u>Section 12</u>, to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the provisions of <u>Section 7(g)</u>, <u>Section 9</u>, <u>Section 10</u>, <u>Section 11(f)</u>, <u>Section 16</u>, <u>Section 17</u> and <u>Section 18</u> hereof shall remain in full force and effect notwithstanding such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Unless earlier terminated pursuant to this <u>Section 11</u>, this Agreement shall automatically terminate upon the earlier to occur of (i) issuance and sale of all of the Placement Shares to or through the Sales Agent on the terms and subject to the conditions set forth herein and (ii) the expiration of the Registration Statement on the third (3<sup>rd</sup>) anniversary of the initial effective date of the Registration Statement pursuant to Rule 415(a)(5) under the Securities Act; *provided* that the provisions of <u>Section 7(g)</u>, <u>Section 9</u>, <u>Section 10</u>, <u>Section 11(f)</u>, <u>Section 16</u>, <u>Section 17</u> and <u>Section 18</u> hereof shall remain in full force and effect notwithstanding such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) This Agreement shall remain in full force and effect unless terminated pursuant to <u>Sections 11(a)</u>, <u>(b)</u>, <u>(c)</u> or <u>(d)</u> above or otherwise by mutual agreement of the parties; *provided*, *however*, that any such termination by mutual agreement shall in all cases be deemed to provide that <u>Section 7(g)</u>, <u>Section 9</u>, <u>Section 10</u>, <u>Section 11(f)</u>, <u>Section 16</u>, <u>Section 17</u> and <u>Section 18</u> shall remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Any termination of this Agreement shall be effective on the date specified in such notice of termination; *provided*, *however*, that such termination shall not be effective until the close of business on the date of receipt of such notice by the Sales Agent or the Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Shares, such termination shall not become effective until the close of business on such Settlement Date and such Placement Shares shall settle in accordance with the provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Notices</u>. All notices or other communications required or permitted to be given by any party to any other party pursuant to the terms of this Agreement shall be in writing, unless otherwise specified, and if sent to the Sales Agent, shall be delivered to:

A.G.P./Alliance Global Partners

590 Madison Avenue, 28<sup>th</sup> Floor

New York, New York 10022

Attention: Thomas J. Higgins

Email: atm@allianceg.com

with a copy (which shall not constitute notice) to:

Pryor Cashman LLP

7 Times Square

New York, New York 10036

Attention: M. Ali Panjwani, Esq.

Email: ali.panjwani@pryorcashman.com

and if to the Company, shall be delivered to:

Mobile-health Network Solutions

2 Venture Drive

#07-06/07 Vision Exchange

Singapore 608526

Attention: Leong Aik Huat

Email: <u>aikhuat.leong@manadr.com</u>

with a copy (which shall not constitute notice) to:

Loeb & Loeb LLP

2206-19 Jardine House

1 Connaught Place Central

Hong Kong

Attention: Lawrence S. Venick, Esq.

Email: lvenick@loeb.com

Each party to this Agreement may change such address for notices by sending to the other party to this Agreement written notice of a new address for such purpose. Each such notice or other communication shall be deemed given (i) when delivered personally or by email on or before 4:30 p.m., New York City time, on a Business Day or, if such day is not a Business Day, on the next succeeding Business Day, (ii) on the next Business Day after timely delivery to a nationally-recognized overnight courier and (iii) on the Business Day actually received if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For purposes of this Agreement, "**<u>Business Day</u>**" shall mean any day on which the Exchange and commercial banks in the City of New York are open for business.

An electronic communication ("**<u>Electronic Notice</u>**") shall be deemed written notice for purposes of this <u>Section 12</u> if sent to the electronic mail address specified in **<u>Schedule 2</u>** hereof. Electronic Notice shall be deemed received at the time the party sending Electronic Notice receives confirmation of receipt by the person to whom the notice was intended (other than pursuant to auto-reply). Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form ("**<u>Nonelectronic Notice</u>**") which shall be sent to the requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Successors and Assigns</u>. This Agreement shall inure to the benefit of and be binding upon the Company and the Sales Agent and their respective successors and permitted assigns and, as to <u>Sections 5(b)</u> and <u>9</u>, the other indemnified parties specified therein. References to any of the parties contained in this Agreement shall be deemed to include the successors and permitted assigns of each such party. Nothing in this Agreement, express or implied, is intended to confer upon any other person any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party; *provided*, *however*, that the Sales Agent may assign its rights and obligations hereunder to an affiliate of the Sales Agent without obtaining the Company's consent, so long as such affiliate is a registered broker-dealer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Adjustments for Share Splits</u>. The parties acknowledge and agree that all share-related numbers contained in this Agreement shall be adjusted to take into account any share split, share dividend or similar event effected with respect to the Ordinary Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Entire Agreement; Amendment; Severability</u>. This Agreement (including all schedules (as amended pursuant to this Agreement) and exhibits attached hereto and Placement Notices issued pursuant hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings, both written and oral, among the parties hereto with regard to the subject matter hereof. Neither this Agreement nor any term hereof may be amended except pursuant to a written instrument executed by the Company and the Sales Agent provided, however, that **<u>Schedule 2</u>** of this Agreement may be amended by either party from time to time by sending a notice containing a revised **<u>Schedule 2</u>** to the other party in the manner provided in <u>Section 12</u> and, upon such amendment, all references herein to **<u>Schedule 2</u>** shall automatically be deemed to refer to such amended **<u>Schedule 2</u>**. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and effect to the fullest possible extent that it is valid, legal and enforceable, and the remainder of the terms and provisions herein shall be construed as if such invalid, illegal or unenforceable term or provision was not contained herein, but only to the extent that giving effect to such provision and the remainder of the terms and provisions hereof shall be in accordance with the intent of the parties as reflected in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>Applicable Law; Consent to Jurisdiction</u>. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of New York, without regard to the principles of conflicts of laws. Each party hereby irrevocably submits to the non-exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection with any transaction contemplated hereby, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof (certified or registered mail, return receipt requested) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient notice of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. <u>Appointment of Agent for Service</u>. The Company has appointed Cogency Global Inc., located at 122 East 42<sup>nd</sup> Street, 18<sup>th</sup> Floor, New York, NY 10168 as its agent for service of process in any suit, action or proceeding described in <u>Section 16</u> and agrees that service of process in any suit, action or proceeding may be made upon it at the office of such agent. The Company waives, to the fullest extent permitted by law, any other requirements of or objections to, and hereby submits to the personal jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan. The Company represents and warrants that such agent has agreed to act as the Company's agent for service of process, and the Company agrees to take any and all action, including the filing of any and all documents and instruments, that may be necessary to continue such appointment in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. <u>Waiver of Jury Trial</u>. The Company and the Sales Agent each hereby irrevocably waives any right it may have to a trial by jury in respect of any claim based upon or arising out of this Agreement or any transaction contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. <u>Absence of Fiduciary Relationship</u>. The Company acknowledges and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Sales Agent is acting solely as agent in connection with the sale of the Placement Shares contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, shareholders (or other equity holders), creditors or employees or any other party, on the one hand, and the Sales Agent, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether the Sales Agent has advised or is advising the Company on other matters, and the Sales Agent has no obligation to the Company with respect to the transactions contemplated by this Agreement, except the obligations expressly set forth in this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company is capable of evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions contemplated by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Sales Agent has not provided any legal, accounting, regulatory or tax advice with respect to the transactions contemplated by this Agreement, and the Company has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Company has been advised and is aware that the Sales Agent and its affiliates are engaged in a broad range of transactions which may involve interests that differ from those of the Company and that the Sales Agent has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Company waives, to the fullest extent permitted by law, any claims it may have against the Sales Agent, for breach of fiduciary duty or alleged breach of fiduciary duty in connection with the transactions contemplated by this Agreement and agrees that the Sales Agent shall have no liability (whether direct or indirect, in contract, tort or otherwise) to the Company in respect of such a fiduciary claim or to any person asserting a fiduciary duty claim on behalf of or in right of the Company, including shareholders, partners, employees or creditors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. <u>Use of Information</u>. The Sales Agent may not provide any information gained in connection with this Agreement and the transactions contemplated by this Agreement, including due diligence, to any third party other than its legal counsel advising it on this Agreement unless expressly approved by the Company in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. <u>Counterparts</u>. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile or electronic transmission. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., *www.docusign.com*) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. <u>Effect of Headings; Knowledge of the Company</u>. The section and Exhibit headings herein are for convenience only and shall not affect the construction hereof. All references in this Agreement to the "knowledge of the Company" or the "Company's knowledge" or similar qualifiers shall mean the actual knowledge of the directors and officers of the Company, after due inquiry.

**[Remainder of Page Intentionally Blank]**

If the foregoing correctly sets forth the understanding between the Company and the Sales Agent, please so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement between the Company and the Sales Agent.

---

| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| **MOBILE-HEALTH NETWORK SOLUTIONS** | **MOBILE-HEALTH NETWORK SOLUTIONS** |
| By: | */s/ Siaw Tung Yeng* |
| Name: | Siaw Tung Yeng |
| Title: | Co-CEO |
| **ACCEPTED as of the date first-above written:** | **ACCEPTED as of the date first-above written:** |
| **A.G.P./ALLIANCE GLOBAL PARTNERS** | **A.G.P./ALLIANCE GLOBAL PARTNERS** |
| By: | */s/ Thomas J. Higgins* |
| Name: | Thomas J. Higgins |
| Title: | Managing Director |

---

**<u>SCHEDULE 1</u>**

**Form of Placement Notice**

---

| | |
|:---|:---|
| From: | Mobile-health Network Solutions |
| To: | A.G.P./Alliance Global Partners |
| Attention: | [●] |
| Subject: | Placement Notice |
| Date: | [●], 202[●] |

---

Ladies and Gentlemen:

Pursuant to the terms and subject to the conditions contained in the Sales Agreement (the "**<u>Sales Agreement</u>**") between Mobile-health Network Solutions, an exempted company incorporated with limited liability in the Cayman Islands (the "**<u>Company</u>**"), and A.G.P./Alliance Global Partners (the "**<u>Sales Agent</u>**"), dated July 15, 2025, the Company hereby requests that the Sales Agent sell up to [●] Class A Ordinary Shares, par value $0.000032 per share (the "**<u>Placement Shares</u>**"), at a minimum market price of $[●] per share, during the time period beginning [month, day, time] and ending [month, day, time] [and with no more than [●] Placement Shares sold in any one Trading Day].

[The Company may include such other sale parameters as it deems appropriate.]

Capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Sales Agreement.

**<u>SCHEDULE 2</u>**

**<u>Notice Parties</u>**

<u>THE COMPANY</u>

Dr. Siaw Tung Yeng

With copies to:

<u>drsiaw@manadr.com</u>

<u>THE SALES AGENT</u>

Thomas J. Higgins

With copies to:

atm@allianceg.com

**<u>SCHEDULE 3</u>**

**<u>Compensation</u>**

The Company shall pay to the Sales Agent in cash, upon each sale of Placement Shares through the Sales Agent pursuant to this Agreement, an amount equal to 3.0% of the aggregate gross proceeds from each sale of Placement Shares.\*

\* The foregoing rate of compensation shall not apply when the Sales Agent purchases Placement Shares on a principal basis, in which case the Company may sell the Placement Shares to the Sales Agent as principal at a price to be mutually agreed upon by the Company and the Sales Agent at the relevant Point of Sale pursuant to the applicable Placement Notice (it being hereby acknowledged and agreed that the Sales Agent shall be under no obligation to purchase Placement Shares on a principal basis pursuant to the Sales Agreement, except as otherwise agreed by the Sales Agent and the Company in writing and expressly set forth in a Placement Notice).

**<u>Exhibit 7(m)</u>**

**<u>OFFICER CERTIFICATE</u>**

 

*The undersigned, the duly qualified and appointed _____________________ of Mobile-health Network Solutions, an exempted company incorporated with limited liability in the Cayman Islands (the "**<u>Company</u>**"), does hereby certify in such capacity and on behalf of the Company, pursuant to <u>Section 7(m)</u> of the Sales Agreement, dated July 15, 2025 (the "**<u>Sales Agreement</u>**"), between the Company and A.G.P./Alliance Global Partners, that:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 representations and warranties of the Company in <u>Section 6</u> of the Sales Agreement (A) to the extent such representations and
 warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Change, are
 true and correct on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof, except
 for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date,
 and (B) to the extent such representations and warranties are not subject to any qualifications or exceptions, are true and correct
 in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly
 made on and as of the date hereof except for those representations and warranties that speak solely as of a specific date and which
 were true and correct as of such date; and

(ii) the
 Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied pursuant to the Sales
 Agreement at or prior to the date hereof;

(iii) as
 of the date hereof, (A) the Registration Statement does not contain any untrue statement of a material fact or omit to state a material
 fact required to be stated therein or necessary in order to make the statements therein not misleading, (B) the Prospectus does not
 contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order
 to make the statements therein, in light of the circumstances under which they were made, not misleading and (C) no event has occurred
 as a result of which it is necessary to amend or supplement the Registration Statement or the Prospectus in order to make the statements
 therein not untrue or misleading for clauses (A) and (B) above, respectively, to be true and correct;

(iv) there
 has been no Material Adverse Change since the date as of which information is given in the Prospectus, as amended or supplemented;

(v) the
 Company does not possess any material non-public information; and

(vi) the
 aggregate offering price of the Placement Shares that may be issued and sold pursuant to the Sales Agreement and the maximum number
 or amount of Placement Shares that may be sold pursuant to the Sales Agreement have been duly authorized by the Company's board
 of directors or a duly authorized committee thereof.

Terms used herein and not defined herein have the meanings ascribed to them in the Sales Agreement.

---

| | |
|:---|:---|
| Dated: |  |
|  | By: |
|  | Name |
|  | Title: |

---

## Exhibit 3.1

**Exhibit 3.1**

**THE COMPANIES ACT (REVISED) OF THE CAYMAN ISLANDS**

**EXEMPTED COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED**

**MEMORANDUM OF ASSOCIATION**

**OF**

**Mobile-health Network Solutions**

(adopted with effect from 28 February 2025 by a Special Resolution passed on 3 February 2025)

1. **NAME** 

1.1 The
 name of the Company is Mobile-health Network Solutions.

2. **REGISTERED OFFICE** 

2.1 The
 Registered Office of the Company shall be at Harneys Fiduciary (Cayman) Limited, 4th Floor,
 Harbour Place, 103 South Church Street, PO Box 10240, Grand Cayman, KY1- 1002, Cayman Islands,
 or at such other location as the Directors may from time to time determine.

3. **OBJECTS** 

3.1 The
 objects for which the Company is established are unrestricted and the Company shall have
 full power and authority to carry out any object not prohibited by the Companies Act or any
 other law of the Cayman Islands.

4. **CAPACITY** 

4.1 Subject
 to paragraph 5 of this Memorandum of Association, the Company shall have and be capable of
 exercising all the functions of a natural person of full capacity irrespective of any question
 of corporate benefit as provided by the Companies Act.

---

| | |
|:---|:---|
|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

---

5. **EXEMPTED COMPANY** 

5.1 The
 Company will not trade in the Cayman Islands with any person, firm or corporation except
 in furtherance of the business of the Company carried on outside the Cayman Islands; provided
 that nothing in this section shall be construed as to prevent the Company effecting and concluding
 contracts in the Cayman Islands, and exercising in the Cayman Islands all of its powers necessary
 for the carrying on of its business outside the Cayman Islands.

6. **LIABILITY OF SHAREHOLDERS** 

6.1 The
 liability of each Shareholder is limited to the amount, if any, unpaid on the Shares held
 by such Shareholder.

7. **SHARE CAPITAL** 

7.1 The
 authorised share capital of the Company is US$50,000 divided into 1,562,500,000 Ordinary
 Shares of nominal or par value of US$0.000032 each, comprising 781,250,000 Class A Shares
 of nominal or par value of US$0.000032 each and 781,250,000 Class B Shares of nominal or
 par value of US$0.000032 each. Subject to the Companies Act, the Articles and, where applicable,
 the Designated Stock Exchange Rules, the Company shall have power to redeem or purchase any
 of its Shares and to increase or reduce its authorised share capital and to sub-divide or
 consolidate the said Shares or any of them and to issue all or any part of its capital whether
 original, redeemed, increased or reduced with or without any preference, priority, special
 privilege or other rights or subject to any postponement of rights or to any conditions or
 restrictions whatsoever and so that unless the conditions of issue shall otherwise expressly
 provide every issue of Shares whether stated to be ordinary, preference or otherwise shall
 be subject to the powers on the part of the Company hereinbefore provided.

8. **CONTINUATION** 

8.1 The
 Company has the power contained in the Companies Act to deregister in the Cayman Islands
 and be registered by way of continuation in some other jurisdiction.

9. **DEFINITIONS** 

9.1 Capitalised
 terms that are not defined in this Memorandum of Association bear the same meanings as those
 given in the Articles of Association of the Company.

---

| | |
|:---|:---|
|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

---

**THE COMPANIES ACT (REVISED) OF THE CAYMAN ISLANDS**

**EXEMPTED COMPANY LIMITED BY SHARES AMENDED AND RESTATED**

**ARTICLES OF ASSOCIATION OF**

**Mobile-health Network Solutions**

(adopted with effect from 28 February 2025 by a Special Resolution passed on 3 February 2025)

**TABLE A**

The regulations contained or incorporated in Table 'A' in the First Schedule of the Companies Act shall not apply to the Company and the following Articles shall comprise the Articles of Association of the Company.

---

| | |
|:---|:---|
| **1** | **DEFINITIONS AND INTERPRETATION** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 In these articles the
 following defined terms will have the meanings ascribed to them, if not inconsistent with the subject
 or context:

---

| | |
|:---|:---|
| **"ADS"** | means an American Depositary Share representing the Company's Class A Shares; |
| **"Affiliate"** | means in respect of a Person, any other Person that, directly or indirectly, through (1) one or more intermediaries, controls, is controlled by, or is under common control with, such Person, and (i) in the case of a natural person, shall include, without limitation, such person's spouse, parents, children, siblings, mother-in-law and father-in-law and brothers-in-law and sisters-in-law, a trust for the benefit of any of the foregoing, a company, partnership or any natural person or entity wholly or jointly owned by any of the foregoing, and (ii) in the case of an entity, shall include a partnership, a corporation or any natural person or entity which directly, or indirectly through one (1) or more intermediaries, controls, is controlled by, or is under common control with, such entity. The term "control" shall mean the ownership, directly or indirectly, of shares possessing more than fifty percent (50%) of the voting power of the corporation, or the partnership or other entity (other than, in the case of corporation, shares having such power only by reason of the happening of a contingency), or having the power to control the management or elect a majority of members to the board of directors or equivalent decision-making body of such corporation, partnership or other entity; |

---

---

| | |
|:---|:---|
|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

---

---

| | |
|:---|:---|
| **"Articles"** | means these articles of association of the Company, as amended or substituted from time to time; |
| **"Audit Committee"** | means the audit committee of the Board of Directors established; |
| **"Board" and "Board of Directors" and "Directors"** | **means the directors of the Company for the time being, or as the case may be, the directors assembled as a board or as a committee thereof;** |
| **"Chairman"** | means the chairman of the Board of Directors; |
| **"Class" or "Classes"** | means any class or classes of Shares as may from time to time be issued by the Company; |
| **"Class A Shares"** | means the Class A Ordinary Shares in the capital of the Company of nominal or par value of US$0.000032 each designated as Class A Shares, and having the rights provided for in these Articles; |
| **"Class B Shares"** | means the Class B Ordinary Shares in the capital of the Company of nominal or par value of US$0.000032 each designated as Class B Shares, and having the rights provided for in these Articles; |
| **"Commission"** | means the Securities and Exchange Commission of the United States or any other federal agency for the time being administering the Securities Act; |

---

---

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|:---|:---|
|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

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---

| | |
|:---|:---|
| **"Companies Act"** | means the Companies Act (Revised) of the Cayman Islands and any statutory amendment or re-enactment thereof; |
| **"Company"** | means Mobile-health Network Solutions, a Cayman Islands exempted company; |
| **"Company's Website"** | means the website of the Company, the address or domain name of which has been notified to Shareholders; |
| **"Compensation Committee"** | **means the compensation committee of the Board of Directors established;** |
| **"Designated Stock Exchange"** | **means the stock exchange in the United States that the Shares or ADSs are listed for trading;** |
| **"Designated Stock Exchange Rules"** | **means the relevant code, rules and regulations, as amended, from time to time, applicable as a result of the original and continued listing of any Shares or ADSs on the Designated Stock Exchange;** |
| **"electronic"** | means the meaning given to it in the Electronic Transactions Act and any amendment thereto or re-enactments thereof for the time being in force and includes every other law incorporated therewith or substituted therefor; |
| **"electronic communication"** | **means electronic posting to the Company's Website, transmission to any number, address or internet website or other electronic delivery methods as otherwise decided and approved by not less than two-thirds (2/3) of the vote of the Board;** |
| **"Electronic Transactions Act"** | **means the Electronic Transactions Act (Revised) of the Cayman Islands and any statutory amendment or re-enactment thereof;** |
| **"Independent Director"** | **means a Director who is an independent director as defined in the Designated Stock Exchange Rules;** |

---

---

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|:---|:---|
|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

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---

| | |
|:---|:---|
| **"Interested Director"** | means a Director who has a direct or indirect interest in any contract, business or arrangement in which the Company or its Affiliates is a party or becomes a party to; |
| **"Law"** | means the Companies Act and every other law and regulation of the Cayman Islands for the time being in force concerning companies and affecting the Company; |
| **"Memorandum of Association"** | **means the memorandum of association of the Company, as amended or substituted from time to time;** |
| **"month"** | means a calendar month; |
| **"Nominations Committee"** | **means the nominations committee of the Board of Directors established;** |
| **"Officer"** | **means any person appointed by the Directors to hold an office in the Company;** |
| **"Ordinary Resolution"** | **means a resolution:** |

---

---

| |
|:---|
| (a) passed by a simple majority of the votes of such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy or, in the case of corporations, by their duly authorised representatives, at a general meeting of the Company held in accordance with these Articles; or |
| (b) approved in writing by all of the Shareholders entitled to vote at a general meeting of the Company in one (1) or more instruments each signed by one (1) or more of the Shareholders and the effective date of the resolution so adopted shall be the date on which the instrument, or the last of such instruments, if more than one, is executed; |

---

---

| | |
|:---|:---|
| **"Ordinary Shares"** | means the Class A Shares and the Class B Shares; |
| **"paid up"** | means paid up as to the par value in respect of the issue of any Shares and includes credited as paid up; |

---

---

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|:---|:---|
|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

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---

| | |
|:---|:---|
| **"Person"** | means any natural person, firm, company, joint venture, partnership, corporation, association or other entity (whether or not having a separate legal personality) or any of them as the context so requires; |
| **"Register"** | means the principal register and any branch register of Shareholders of the Company maintained in accordance with the Companies Act; |
| **"Registered Office"** | means the registered office of the Company as required by the Companies Act; |
| **"Seal"** | means the common seal of the Company (if adopted) including any facsimile thereof; |
| **"Secretary"** | means any Person appointed by the Directors to perform any of the duties of the secretary of the Company; |
| **"Securities Act"** | means the Securities Act of 1933 of the United States, as amended, or any similar federal statute and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time; |
| **"Share"** | means a share in the capital of the Company. All references to "Shares" herein shall be deemed to be Shares of any or all Classes as the context may require. For the avoidance of doubt in these Articles the expression "Share" shall include a fraction of a Share; |
| **"Shareholder"** | means a Person who is registered as the holder of Shares in the Register; |
| **"Share Premium Account"** | **means the share premium account established in accordance with these Articles and the Companies Act;** |
| **"signed"** | means bearing a signature or representation of a signature affixed by mechanical means or an electronic symbol or process attached to or logically associated with an electronic communication and executed or adopted by a person with the intent to sign the electronic communication; |
| **"Special Resolution"** | means a special resolution: |

---

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|:---|:---|
|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

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| |
|:---|
| (a) passed in accordance with the Law, being a resolution passed by a majority of not less than two-thirds (2/3) of the votes of such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy or, in the case of corporations, by their duly authorised representatives, at a general meeting of the Company of which notice specifying the intention to propose the resolution as a special resolution has been duly given; or |
| (b) approved in writing by all of the Shareholders entitled to vote at a general meeting of the Company in one (1) or more instruments each signed by one (1) or more of the Shareholders and the effective date of the special resolution so adopted shall be the date on which the instrument or the last of such instruments, if more than one, is executed; |

---

---

| | |
|:---|:---|
| **"Treasury Share"** | means a Share held in the name of the Company as a treasury share in accordance with the Companies Act; |
| **"United States"** | means the United States of America, its territories, its possessions and all areas subject to its jurisdiction; and |
| "**Year**" | means a calendar year. |

---

1.2 In
 these Articles, save where the context requires otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) words
 importing the singular number shall include the plural number and *vice versa*;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) words
 importing the masculine gender only shall include the feminine gender and any Person as the
 context may require;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 word "may" shall be construed as permissive and the word "shall"
 shall be construed as imperative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) reference
 to a dollar or dollars (or US$) and to a cent or cents is reference to dollars and cents
 of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) reference
 to a statutory enactment shall include reference to any amendment or re- enactment thereof
 for the time being in force;

---

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|:---|:---|
|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) reference
 to any determination by the Directors shall be construed as a determination by the Directors
 in their sole and absolute discretion and shall be applicable either generally or in any
 particular case;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any
 phrase introduced by the terms "including", "include" or "in
 particular" or similar expression shall be construed as illustrative and shall not
 limit the sense of the words preceding those terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) reference
 to "in writing" shall be construed as written or represented by any means reproducible
 in writing, including any form of print, lithograph, email, facsimile, photograph or telex
 or represented by any other substitute or format for storage or transmission for writing
 or partly one and partly another;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any
 requirements as to delivery under the Articles include delivery in the form of an electronic
 record or an electronic communication;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any
 requirements as to execution or signature under the Articles, including the execution of
 the Articles themselves, can be satisfied in the form of an electronic signature as defined
 in the Electronic Transactions Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Sections
 8 and 19(3) of the Electronic Transactions Act shall not apply.

1.3 Subject
 to the preceding Articles, any words defined in the Companies Act shall, if not inconsistent
 with the subject or context, bear the same meaning in these Articles.

2. **PRELIMINARY** 

2.1 **Commencement of Business**. The business of the Company may be conducted as the Directors see fit.

2.2 **Registered Office.** The registered office shall be at such address in the Cayman Islands as the Directors
 may from time to time determine. The Company may in addition establish and maintain such
 other offices and places of business and agencies in such places as the Directors may from
 time to time determine.

2.3 **Commencement Costs and Expenses**. The expenses incurred in the formation of the Company and in connection
 with the offer for subscription and issue of shares shall be paid by the Company. Such expenses
 may be amortised over such period as the Directors may determine and the amount so paid shall
 be charged against income and/or capital in the accounts of the Company as the Directors
 shall determine.

---

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|:---|:---|
|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

---

2.4 **Register of Members**. The Directors shall keep, or cause to be kept, the register at such place
 as the Directors may from time to time determine and, in the absence of any such determination,
 the register shall be kept at the registered office.

3. **SHARES** 

3.1 **Issue**.
 Subject to these Articles and, where applicable, the Designated Stock Exchange Rules, all
 shares for the time being unissued shall be under the control of the Directors who may, in
 their absolute discretion and without the approval of the Shareholders, cause the Company
 to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) allot,
 issue and dispose of Shares (including, without limitation, preferred shares) (whether in
 certificated form or non-certificated form) to such Persons, in such manner, on such terms
 and having such rights and being subject to such restrictions as they may from time to time
 determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) grant
 rights over existing Shares or issue other securities in one (1) or more classes or series
 as they deem necessary or appropriate and determine the designations, powers, preferences,
 privileges and other rights attaching to such Shares or securities, including dividend rights,
 voting rights, conversion rights, terms of redemption and liquidation preferences, any or
 all of which may be greater than the powers, preferences, privileges and rights associated
 with the then issued and outstanding Shares, at such times and on such other terms as they
 think proper; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) grant
 options with respect to Shares and issue warrants or similar instruments with respect thereto,
 at such times and on such terms and having such rights and being subject to such restrictions
 as they may from time to time determine.

3.2 **Class Variation**. The Directors may authorise the division of Shares into any number of Classes
 and the different Classes shall be authorised, established and designated (or re- designated
 as the case may be) and the variations in the relative rights (including, without limitation,
 voting, dividend and redemption rights), restrictions, preferences, privileges and payment
 obligations as between the different Classes (if any) may be fixed and determined by the
 Directors or by a Special Resolution. The Directors may issue Shares with such preferred
 or other rights, all or any of which may be greater than the rights of Ordinary Shares, at
 such time and on such terms as they may think appropriate. The Directors may issue from time
 to time, out of the authorised share capital of the Company (other than the authorised but
 unissued Ordinary Shares), series of preferred shares which may carry rights more preferential
 than the rights of Ordinary Shares, at such time and on such terms as they may think appropriate
 in their absolute discretion and without approval of the Shareholders; provided, however,
 before any preferred shares of any such series are issued, the Directors shall by resolution
 of Directors determine, with respect to any series of preferred shares, the terms and rights
 of that series, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 designation of such series, the number of preferred shares to constitute such series and
 the subscription price thereof if different from the par value thereof;

---

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|:---|:---|
|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) whether
 the preferred shares of such series shall have voting rights, in addition to any voting rights
 provided by law, and, if so, the terms of such voting rights, which may be general or limited;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 dividends, if any, payable on such series, whether any such dividends shall be cumulative,
 and, if so, from what dates, the conditions and dates upon which such dividends shall be
 payable, and the preference or relation which such dividends shall bear to the dividends
 payable on any shares of any other class or any other series of shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) whether
 the preferred shares of such series shall be subject to redemption by the Company, and, if
 so, the times, prices and other conditions of such redemption;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) whether
 the preferred shares of such series shall have any rights to receive any part of the assets
 available for distribution amongst the Shareholders upon the liquidation of the Company,
 and, if so, the terms of such liquidation preference, and the relation which such liquidation
 preference shall bear to the entitlements of the holders of shares of any other class or
 any other series of shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) whether
 the preferred shares of such series shall be subject to the operation of a retirement or
 sinking fund and, if so, the extent to and manner in which any such retirement or sinking
 fund shall be applied to the purchase or redemption of the preferred shares of such series
 for retirement or other corporate purposes and the terms and provisions relative to the operation
 thereof;

---

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|:---|:---|
|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) whether
 the preferred shares of such series shall be convertible into, or exchangeable for, shares
 of any other class or any other series of preferred shares or any other securities and, if
 so, the price or prices or the rate or rates of conversion or exchange and the method, if
 any, of adjusting the same, and any other terms and conditions of conversion or exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the
 limitations and restrictions, if any, to be effective while any preferred shares of such
 series are outstanding upon the payment of dividends or the making of other distributions
 on, and upon the purchase, redemption or other acquisition by the Company of, the existing
 shares or shares of any other class of shares or any other series of preferred shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 conditions or restrictions, if any, upon the creation of indebtedness of the Company or upon
 the issue of any additional shares, including additional shares of such series or of any
 other class of shares or any other series of preferred shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any other powers, preferences and relative, participating, optional and other special rights, and any qualifications, limitations and restrictions thereof,

and, for such purposes, the Directors may reserve an appropriate number of Shares for the time being unissued.

3.3 **No Bearer Shares.** The Company shall not issue Shares to bearer.

3.4 **Commission.** The Company may insofar as may be permitted by law, pay a commission to any Person in
 consideration of his subscribing or agreeing to subscribe whether absolutely or conditionally
 for any Shares. Such commissions may be satisfied by the payment of cash or the lodgement
 of fully or partly paid-up shares or partly in one way and partly in the other. The Company
 may also pay such brokerage as may be lawful on any issue of Shares.

3.5 **Directors' Consent.** The Directors may refuse to accept any application for Shares, and may accept
 any application in whole or in part, for any reason or for no reason.

---

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|:---|:---|
|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

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4. **MODIFICATION OF RIGHTS** 

4.1 **Class Variation.** Whenever the capital of the Company is divided into different Classes the
 rights attached to any such Class may, subject to any rights or restrictions for the time
 being attached to any Class, only be materially adversely varied with the consent in writing
 of the holders of at least two-thirds (2/3) of the issued Shares of that Class or with the
 approval of a resolution passed by at least two-thirds (2/3) of the votes cast by the Shareholders
 of the Shares of that Class present and voting in person or by proxy at a separate meeting
 of such holders. To every such separate meeting all the provisions of these Articles relating
 to general meetings of the Company or to the proceedings thereat shall, *mutatis mutandis*,
 apply, except that the necessary quorum shall be two (2) persons at least holding or representing
 by proxy one-third (1/3) of the issued Shares of the relevant class and that, subject to
 any rights or restrictions for the time being attached to the Shares of that Class, every
 Shareholder of the Class shall on a poll have one (1) vote for each Share of the Class held
 by him. For the purposes of this article the Directors may treat all the Classes or any two
 (2) or more Classes as forming one (1) Class if they consider that all such Classes would
 be affected in the same way by the proposals under consideration, but in any other case shall
 treat them as separate Classes.

4.2 **No Variation on Further issue.** The rights conferred upon the Shareholders of the Shares
 of any Class issued with preferred or other rights shall not, subject to any rights or restrictions
 for the time being attached to the Shares of that Class, be deemed to be materially adversely
 varied by, *inter alia*, the creation, allotment or issue of further shares ranking *pari passu* with or subsequent to them or the redemption or purchase of any shares
 of any Class by the Company. The rights of the holders of Shares shall not be deemed to be
 materially adversely varied by the creation or issue of Shares with preferred or other rights
 including, without limitation, the creation of Shares with enhanced or weighted voting rights.

5. **CERTIFICATES** 

5.1 **Share Certificates.** Unless and until the Directors resolve to issue share certificates, no
 share certificate shall be issued, and the records of the shareholdings of each Shareholder
 shall be in uncertified book entry form. If the Directors do resolve to issue share certificates
 in respect of any one (1) or more classes of Shares, then every Shareholder holding such
 shares shall be entitled, upon written request only, to a certificate signed by a Director
 or Secretary, or any other person authorised by a resolution of the Directors, or under the
 seal specifying the number of Shares held by him and the signature of the Director, Secretary
 or authorised person and the seal may be facsimiles or affixed by electronic means pursuant
 to the electronic transactions act. Any shareholder receiving a certificate shall indemnify
 and hold the Company and its Directors and Officers harmless from any loss or liability which
 it or they may incur by reason of any wrongful or fraudulent use or representation made by
 any person by virtue of the possession thereof.

---

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|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

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5.2 **Certificate Legends.** Every share certificate of the Company shall bear legends required under the
 applicable laws, including the Securities Act.

5.3 **Multiple Shares.** Any two (2) or more certificates representing Shares of any one (1) Class held
 by any Shareholder may at the Shareholder's request be cancelled and a single new certificate
 for such Shares issued in lieu on payment (if the Directors shall so require) of US$1.00
 or such smaller sum as the Directors shall determine.

5.4 **Replacement.** If a share certificate shall be damaged or defaced or alleged to have been lost, stolen
 or destroyed, a new certificate representing the same Shares may be issued to the relevant
 Shareholder upon request subject to delivery up of the old certificate or (if alleged to
 have been lost, stolen or destroyed) compliance with such conditions as to evidence and indemnity
 and the payment of out-of-pocket expenses of the Company in connection with the request as
 the Directors may think fit.

5.5 **Joint Holders.** In the event that Shares are held jointly by several Persons, any request may
 be made by any one (1) of the joint holders and if so made shall be binding on all of the
 joint holders.

6. **FRACTIONAL SHARES** 

6.1 The
 Directors may issue fractions of a Share and, if so issued, a fraction of a Share shall be
 subject to and carry the corresponding fraction of liabilities (whether with respect to nominal
 or par value, premium, contributions, calls or otherwise), limitations, preferences, privileges,
 qualifications, restrictions, rights (including, without prejudice to the generality of the
 foregoing, voting and participation rights) and other attributes of a whole share. If more
 than one fraction of a share of the same class is issued to or acquired by the same Shareholder
 such fractions shall be accumulated.

---

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|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

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7. **LIEN** 

7.1 **All Monies Payable**. The Company has a first and paramount lien on every Share (whether or
 not fully paid) for all amounts (whether presently payable or not) payable at a fixed time
 or called in respect of that Share. The Company also has a first and paramount lien on every
 Share registered in the name of a Person indebted or under liability to the Company (whether
 he is the sole registered Shareholder or one (1) of two (2) or more joint Shareholders) for
 all amounts owing by him or his estate to the Company (whether or not presently payable).
 The Directors may at any time declare a share to be wholly or in part exempt from the provisions
 of this Article. The Company's lien on a Share extends to any amount payable in respect
 of it, including but not limited to dividends.

7.2 **Sale**.
 The Company may sell, in such manner as the Directors in their absolute discretion think
 fit, any Share on which the Company has a lien, but no sale shall be made unless an amount
 in respect of which the lien exists is presently payable nor until the expiration of fourteen
 (14) calendar days after a notice in writing, demanding payment of such part of the amount
 in respect of which the lien exists as is presently payable, has been given to the registered
 holder for the time being of the Share, or the Persons entitled thereto by reason of his
 death or bankruptcy.

7.3 **Registration of Purchase.** For giving effect to any such sale the Directors may authorise a Person
 to transfer the Shares sold to the purchaser thereof. The purchaser shall be registered as
 the Shareholder of the Shares comprised in any such transfer and he shall not be bound to
 see to the application of the purchase money, nor shall his title to the Shares be affected
 by any irregularity or invalidity in the proceedings in reference to the sale.

7.4 **Application of Proceeds.** The proceeds of the sale after deduction of expenses, fees and commissions
 incurred by the Company shall be received by the Company and applied in payment of such part
 of the amount in respect of which the lien exists as is presently payable, and the residue
 shall (subject to a like lien for sums not presently payable as existed upon the Shares prior
 to the sale) be paid to the Person entitled to the Shares immediately prior to the sale.

---

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|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

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8. **CALLS ON SHARES** 

8.1 **Calls.** Subject to the terms of the allotment, the Directors may from time to time make calls upon
 the Shareholders in respect of any moneys unpaid on their Shares, and each Shareholder shall
 (subject to receiving at least fourteen (14) calendar days' notice specifying the time
 and place of payment) pay to the Company at the time so specified the amount called on such
 Shares. A call shall be deemed to have been made at the time when the resolution of the Directors
 authorising such call was passed.

8.2 **Joint Holders.** The joint holders of a Share shall be jointly and severally liable to pay calls
 in respect thereof.

8.3 **Interest on Calls.** If a sum called in respect of a Share is not paid before or on the day appointed
 for payment thereof, the Person from whom the sum is due shall pay interest upon the sum
 at such rate not exceeding ten (10%) per cent per annum from the day appointed for the payment
 thereof to the time of the actual payment, but the Directors shall be at liberty to waive
 payment of that interest wholly or in part.

8.4 **Fixed Payment Dates.** The provisions of these Articles as to the liability of joint holders
 and as to payment of interest shall apply in the case of non-payment of any sum which, by
 the terms of issue of a Share, becomes payable at a fixed time, whether on account of the
 amount of the Share, or by way of premium, as if the same had become payable by virtue of
 a call duly made and notified.

8.5 **Partly Paid Shares.** The Directors may make arrangements with respect to the issue of partly
 paid Shares for a difference between the Shareholders, or the particular Shares, in the amount
 of calls to be paid and in the times of payment.

8.6 **Advancement.** The Directors may, if they think fit, receive from any Shareholder willing to advance
 the same all or any part of the moneys uncalled and unpaid upon any partly paid Shares held
 by him, and upon all or any of the moneys so advanced may (until the same would, but for
 such advance, become presently payable) pay interest at such rate (not exceeding without
 the sanction of an Ordinary Resolution, six (6%) per cent per annum) as may be agreed upon
 between the Shareholder paying the sum in advance and the Directors. No such sum paid in
 advance of calls shall entitle the Shareholder paying such sum to any portion of a dividend
 declared in respect of any period prior to the date upon which such sum would, but for such
 payment, become presently payable.

---

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|  | ![](ex3-1_001.jpg) |
|  | *Filed: 04-Mar-2025 16:08 EST* |
| *www.verify.gov.ky File#: 313720* | *Auth Code: E93665404783* |

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9. **FORFEITURE OF SHARES** 

9.1 **Failure to pay Call.** If a Shareholder fails to pay any call or instalment of a call in respect
 of partly paid Shares on the day appointed for payment, the Directors may, at any time thereafter
 during such time as any part of such call or instalment remains unpaid, serve not less than
 fourteen (14) days' notice on him requiring payment of so much of the call or instalment
 as is unpaid, together with any interest which may have accrued and which may still accrue
 up to the date of the actual payment.

9.2 **Forfeiture Notice.** The notice shall name a further day (not earlier than the expiration of fourteen
 (14) calendar days from the date of the notice) on or before which the payment required by
 the notice is to be made, and shall state that in the event of non-payment at or before the
 time appointed the Shares in respect of which the call was made will be liable to be forfeited.

9.3 **Forfeiture.** If the requirements of any such notice as aforesaid are not complied with, any Share in respect
 of which the notice has been given may at any time thereafter, before the payment required
 by notice has been made, be forfeited by a resolution of the Directors to that effect.

9.4 **Sale of Forfeited Share.** A forfeited Share may be sold or otherwise disposed of on such terms
 and in such manner as the Directors think fit, and at any time before a sale or disposition
 the forfeiture may be cancelled on such terms as the Directors think fit.

9.5 **Outstanding Liability.** A Person whose Shares have been forfeited shall cease to be a Shareholder
 in respect of the forfeited Shares, but shall, notwithstanding, remain liable to pay to the
 Company all moneys which at the date of forfeiture were payable by him to the Company in
 respect of the Shares forfeited, but his liability shall cease if and when the Company receives
 payment in full of the amount unpaid on the Shares forfeited.

9.6 **Certificate of Forfeiture.** A certificate in writing under the hand of a Director of the Company that
 a Share has been duly forfeited on a date stated in the certificate, shall be conclusive
 evidence of the facts in the declaration as against all Persons claiming to be entitled to
 the Share.

9.7 **Consideration of Sale of Forfeited Share.** The Company may receive the consideration, if any, given
 for a Share on any sale or disposition thereof pursuant to the provisions of these Articles
 as to forfeiture and may execute a transfer of the Share in favour of the Person to whom
 the Share is sold or disposed of and that Person shall be registered as the Shareholder,
 and shall not be bound to see to the application of the purchase money, if any, nor shall
 his title to the Shares be affected by any irregularity or invalidity in the proceedings
 in reference to the disposition or sale.

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9.8 **Fixed Payment Dates.** The provisions of these Articles as to forfeiture shall apply in the case
 of non-payment of any sum which by the terms of issue of a Share becomes due and payable,
 whether on account of the amount of the Share, or by way of premium, as if the same had been
 payable by virtue of a call duly made and notified.

10. **TRANSFER OF SHARES** 

10.1 **Instrument of Transfer.** The instrument of transfer of any Share shall be in writing and in any usual
 or common form or such other form as the Directors may, in their absolute discretion, approve
 and be executed by or on behalf of the transferor (or otherwise as prescribed by the rules
 and regulations of the Designated Stock Exchange) and if in respect of a nil or partly paid
 up Share, or if so required by the Directors, shall also be executed on behalf of the transferee
 and shall be accompanied by the certificate (if any) of the Shares to which it relates and
 such other evidence as the Directors may reasonably require to show the right of the transferor
 to make the transfer. The transferor shall be deemed to remain a Shareholder until the name
 of the transferee is entered in the Register in respect of the relevant Shares.

10.2 **Directors' Consent.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject
 to the terms of issue thereof and the rules or regulations of the Designated Stock Exchange
 or any relevant rules of the Commission or securities laws, the Directors may in their absolute
 discretion decline to register any transfer of Shares which is not fully paid up or on which
 the Company has a lien.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Directors may also decline to register any transfer of any Share unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 instrument of transfer is lodged with the Company, accompanied by the certificate for the
 Shares to which it relates and such other evidence as the Board may reasonably require to
 show the right of the transferor to make the transfer;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the
 instrument of transfer is in respect of only one (1) Class of Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the
 instrument of transfer is properly stamped, if required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) in
 the case of a transfer to joint holders, the number of joint holders to whom the Share is
 to be transferred does not exceed four (4);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the
 Shares transferred are free of any lien in favour of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) a
 fee of such maximum sum as the Designated Stock Exchange may determine to be payable, or
 such lesser sum as the Board of Directors may from time to time require, is paid to the Company
 in respect thereof.

10.3 **Suspension of Registration of Transfers.** The registration of transfers may, after compliance with
 any notice required of the Designated Stock Exchange Rules, be suspended and the Register
 closed at such times and for such periods as the Directors may, in their absolute discretion,
 from time to time determine, provided always that such registration of transfer shall not
 be suspended nor the Register closed for more than thirty (30) calendar days in any year.

10.4 **Notification of Refusal.** All instruments of transfer that are registered shall be retained by the
 Company, but any instrument of transfer that the Directors decline to register shall (except
 in any case of fraud) be returned to the Person depositing the same. If the Directors refuse
 to register a transfer of any Shares, they shall within three (3) calendar months after the
 date on which the transfer was lodged with the Company send to each of the transferor and
 the transferee notice of the refusal.

11. **TRANSMISSION OF SHARES** 

11.1 **Legal Personal Representative.** The legal personal representative of a deceased sole Shareholder
 shall be the only Person recognised by the Company as having any title to the Share. In the
 case of a Share registered in the name of two (2) or more holders, the survivors or survivor,
 or the legal personal representatives of the deceased survivor, shall be the only Person
 recognised by the Company as having any title to the Share.

11.2 **Transmission.** Any Person becoming entitled to a Share in consequence of the death or bankruptcy of
 a Shareholder shall upon such evidence being produced as may from time to time be required
 by the Directors, have the right either to be registered as a Shareholder in respect of the
 Share or, instead of being registered himself, to make such transfer of the Share as the
 deceased or bankrupt Person could have made; but the Directors shall, in either case, have
 the same right to decline or suspend registration as they would have had in the case of a
 transfer of the Share by the deceased or bankrupt Person before the death or bankruptcy.

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11.3 **Pre-Registration Status.** A Person becoming entitled to a Share by reason of the death or bankruptcy of
 a Shareholder shall be entitled to the same dividends and other advantages to which he would
 be entitled if he were the registered Shareholder, except that he shall not, before being
 registered as a Shareholder in respect of the Share, be entitled in respect of it to exercise
 any right conferred by membership in relation to meetings of the Company, provided however,
 that the Directors may at any time give notice requiring any such person to elect either
 to be registered himself or to transfer the Share, and if the notice is not complied with
 within ninety (90) calendar days, the Directors may thereafter withhold payment of all dividends,
 bonuses or other monies payable in respect of the Share until the requirements of the notice
 have been complied with.

12. **CONVERSION OF SHARES** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each
 Class B Share is convertible into one (1) fully paid Class A Share at any time by the holder
 thereof. The right to convert shall be exercisable by the Shareholder of the Class B Share
 delivering a written notice to the Company that such holder elects to convert a specified
 number of Class B Shares into Class A Shares. In no event shall Class A Shares be convertible
 into Class B Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon
 any sale, transfer, assignment or disposition of Class B Shares by a holder thereof to any
 Person which is not an Affiliate of such holder, or upon a change of beneficial ownership
 of any Class B Shares as a result of which any Person who is not an Affiliate of the holders
 of such Ordinary Shares becomes a beneficial owner of such Ordinary Shares, such Class B
 Shares shall be automatically and immediately converted into an equal number of Class A Shares.
 For the avoidance of doubt, (i) a sale, transfer, assignment or disposition shall be effective
 upon the Company's registration of such sale, transfer, assignment or disposition in
 the Register; (ii) the creation of any pledge, charge, encumbrance or other third-party right
 of whatever description on any Class B Shares to secure any contractual or legal obligations
 shall not be deemed as a sale, transfer, assignment or disposition unless and until any such
 pledge, charge, encumbrance or other third-party right is enforced and results in the third
 party who is not an Affiliate of the relevant Shareholder becoming a beneficial owner of
 the relevant Class B Shares in which case all the related Class B Shares shall be automatically
 and immediately converted into the same number of Class A Shares, and (iii) any sale, transfer,
 assignment or disposition of any Class B Shares by a holder thereof to any Person which is
 a beneficial owner of Class B Shares shall not trigger the automatic conversion of such Class
 B Shares into Class A Shares as contemplated under this Article.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any
 conversion of Class B Shares into Class A Shares pursuant to this Article shall be effected
 by means of the re-designation and re-classification of the relevant Class B Share as a Class
 A Share together with such rights and restrictions and which shall rank *pari passu* is
 all respects with the Class A Shares then in issue. Such conversion shall become effective
 forthwith upon entries being made in the Register to record the re-designation and re-classification
 of the relevant Class B Shares as Class A Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Upon
 conversion, the Company shall allot and issue the relevant Class A Shares to the converting
 Shareholder, enter or procure the entry of the name of the relevant Shareholder of Class
 B Shares as the Shareholder of the relevant number of Class A Shares resulting from the conversion
 of the Class B Ordinary Shares in, and make any other necessary and consequential changes
 to, the Register and shall procure that certificates in respect of the relevant Class A Shares,
 together with a new certificate for any unconverted Class B Shares comprised in the certificate(s)
 surrendered by the Shareholder of the Class B Shares are issued to the Shareholders of the
 Class A Shares and Class B Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Any
 and all taxes and stamp, issue and registration duties (if any) arising on conversion shall
 be borne by the Shareholder of Class B Shares requesting conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Save
 and except for voting rights and conversion rights as set out in this Article, Class A Shares
 and Class B Shares shall rank *pari passu* and shall have the same rights, preferences,
 privileges and restrictions.

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13. **REGISTRATION OF EMPOWERING INSTRUMENTS** 

13.1 The
 Company shall be entitled to charge a fee not exceeding one dollar (US$1.00) on the registration
 of every probate, letters of administration, certificate of death or marriage, power of attorney,
 notice in lieu of distringas, or other instrument.

14. **ALTERATION OF SHARE CAPITAL** 

14.1 **Increase.** The Company may from time to time by Ordinary Resolution increase the share capital by such
 sum, to be divided into Shares of such Classes and amount, as the resolution shall prescribe.

14.2 **Amendment.** The Company may by Ordinary Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) consolidate
 and divide all or any of its share capital into Shares of a larger amount than its existing
 Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) convert
 all or any of its paid up Shares into stock and reconvert that stock into paid up Shares
 of any denomination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) subdivide
 its existing Shares, or any of them into Shares of a smaller amount provided that in the
 subdivision the proportion between the amount paid and the amount, if any, unpaid on each
 reduced Share shall be the same as it was in case of the Share from which the reduced Share
 is derived; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) cancel
 any Shares that, at the date of the passing of the resolution, have not been taken or agreed
 to be taken by any Person and diminish the amount of its share capital by the amount of the
 Shares so cancelled.

14.3 **Reduction.** The Company may by Special Resolution reduce its share capital and any capital redemption
 reserve in any manner authorised by Law.

15. **REDEMPTION, PURCHASE AND SURRENDER OF SHARES** 

15.1 **Reduction.** Subject to the provisions of the Law and these Articles, the Company may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue
 Shares that are to be redeemed or are liable to be redeemed at the option of the Shareholder
 or the Company. The redemption of Shares shall be effected in such manner and upon such terms
 as may be determined, before the issue of such Shares, by either the Board or by the Shareholders
 by Special Resolution;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) purchase
 its own Shares (including any redeemable Shares) on such terms and in such manner and terms
 as have been approved by the Board or by the Shareholders by Ordinary Resolution, or are
 otherwise authorised by these Articles; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) make
 a payment in respect of the redemption or purchase of its own Shares in any manner permitted
 by the Companies Act, including out of capital.

15.2 **No other Redemption.** The purchase of any Share shall not oblige the Company to purchase
 any other Share other than as may be required pursuant to applicable law and any other contractual
 obligations of the Company.

15.3 **Condition for Redemption.** The Shareholder of the Share(s) being purchased shall be bound to deliver
 up to the Company the certificate(s) (if any) thereof for cancellation and thereupon the
 Company shall pay to him the purchase or redemption monies or consideration in respect thereof.

15.4 **Surrender.** The Directors may accept the surrender for no consideration of any fully paid Share.

16. **TREASURY SHARES** 

16.1 **Treasury Share.** The Directors may, prior to the purchase, redemption or surrender of any Share,
 determine that such Share shall be held as a Treasury Share.

16.2 **Cancellation of Treasury Share.** The Directors may determine to cancel a Treasury Share or transfer
 a Treasury Share on such terms as they think proper (including, without limitation, for nil
 consideration).

16.3 **No Distribution in relation to Treasury Share.** No dividend may be declared or paid, and
 no other distribution (whether in cash or otherwise) of the Company's assets (including
 any distribution of assets to Shareholders on a winding up) may be declared or paid in respect
 of a Treasury Share.

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16.4 **Register – Treasury Share.** The Company shall be entered in the Register as the Shareholder
 of the Treasury Shares provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Company shall not be treated as a Shareholder for any purpose and shall not exercise any
 right in respect of the Treasury Shares, and any purported exercise of such a right shall
 be void;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a
 Treasury Share shall not be voted, directly or indirectly, at any meeting of the Company
 and shall not be counted in determining the total number of issued shares at any given time,
 whether for the purposes of these Articles or the Law, save that an allotment of Shares as
 fully paid bonus shares in respect of a Treasury Share is permitted and Shares allotted as
 fully paid bonus shares in respect of a Treasury Share shall be treated as Treasury Shares.

16.5 **Disposal of Treasury Shares.** Treasury Shares may be disposed of by the Company on such terms and
 conditions as determined by the Directors.

17. **GENERAL MEETINGS** 

17.1 **Meetings.** All general meetings other than annual general meetings shall be called extraordinary
 general meetings.

17.2 **Annual General Meetings** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 Company may (but is not obliged to) in each financial year hold a general meeting as its
 annual general meeting and shall specify the meeting as such in the notices calling it, and
 such annual general meeting shall be held within six (6) months after the end of the Company's
 financial year. The annual general meeting shall be held at such time and place as may be
 determined by the Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At
 these meetings a report of the Directors (if any) may be presented.

17.3 **Directors Convene.** A majority of the Directors may call general meetings, and they shall on a Shareholders'
 requisition forthwith proceed to convene an extraordinary general meeting of the Company.

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17.4 **Shareholders Convene.** A Shareholders' requisition is a request of one (1) or more Shareholders
 holding as at the date of deposit of the request in aggregate not less than one- third (1/3)
 of the voting rights in the share capital of the Company. Such Shareholders may also add
 resolutions to the agenda of a general meeting.

17.5 **Requisition.** Subject to Article 17.2, the requisition must state the objects of the meeting and must
 be signed by the Shareholders that made the request (the "**Requisitionists** ")
 and deposited at the Registered Office, and may consist of several documents in like form
 each signed by one (1) or more Requisitionists.

17.6 **Directors Convene General Meeting.** If the Directors do not within twenty- one (21) calendar days
 from the date of the deposit of the requisition duly proceed to convene a general meeting
 to be held within a further twenty-one (21) calendar days, the Requisitionists, or any of
 them representing more than one-half of the total voting rights of all of them, may themselves
 convene a general meeting, but any meeting so convened shall not be held after the expiration
 of three (3) months after the expiration of the said twenty- one (21) calendar days.

17.7 **Requisitionists Convene General Meeting.** A general meeting convened as aforesaid by Requisitionists shall
 be convened in the same manner as nearly as possible as that in which general meetings are
 to be convened by Directors.

17.8 **Shareholder Participation.** Shareholders seeking to bring business before the annual general meeting
 or to nominate candidates for election as Directors at the annual general meeting must deliver
 notice to the Registered Office not later than the close of business on the 90<sup>th</sup>
 day nor earlier than the close of business on the 120<sup>th</sup> day prior to the scheduled
 date of the annual general meeting.

18. **NOTICE OF GENERAL MEETINGS** 

18.1 **Notice of Meeting.** An annual general meeting of the Company shall be called by at least 7 days'
 notice in writing, and a general meeting of the Company (other than an annual general meeting)
 shall be called by at least 7 days' notice in writing. Every notice shall be exclusive
 of the day on which it is served or deemed to be served but inclusive of the day for which
 it is given, and shall specify the place, the day and the hour of the meeting and the general
 nature of the business and shall be given in the manner hereinafter mentioned or in such
 other manner if any as may be prescribed by the Company, provided that a general meeting
 of the Company shall, whether or not the notice specified in this Article has been given
 and whether or not the provisions of these Articles regarding general meetings have been
 complied with, be deemed to have been duly convened if it is so agreed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in
 the case of an annual general meeting by all the Shareholders (or their proxies) entitled
 to attend and vote thereat; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in
 the case of an extraordinary general meeting by a majority in number of the Shareholders
 (or their proxies) having a right to attend and vote at the meeting, being a majority together
 holding not less than ninety five percent (95%) in par value of the Shares giving that right.

18.2 **Failure to Give Notice.** The accidental omission to give notice of a meeting to or the non- receipt
 of a notice of a meeting by any Shareholder shall not invalidate the proceedings at any meeting.

19. **PROCEEDINGS AT GENERAL MEETINGS** 

19.1 **Due Constitution of Meeting.** No business except for the appointment of a chairman for the
 meeting shall be transacted at any general meeting unless a quorum of Shareholders is present
 at the time when the meeting proceeds to business.

19.2 **Quorum.** At least one (1) Shareholder being a holder of not less than an aggregate of one- third (1/3)
 of all votes attaching to all Shares in issue and entitled to vote present in person or by
 proxy or, if a corporation or other non-natural person, by its duly authorised representative,
 shall be a quorum for all purposes.

19.3 **No Quorum.** If within half an hour from the time appointed for the meeting a quorum is not
 present, the meeting shall be dissolved.

19.4 **Electronic Communication.** If the Directors wish to make this facility available for a specific general
 meeting or all general meetings of the Company, participation in any general meeting of the
 Company may be by means of a telephone or similar communication equipment by way of which
 all Persons participating in such meeting can communicate with each other and such participation
 shall be deemed to constitute presence in person at the meeting.

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19.5 **Chairman of Shareholder Meeting.** The Chairman (if any) shall preside as chairman at every general
 meeting of the Company.

19.6 **No Chairman.** If there is no Chairman, or if at any general meeting he is not present within
 fifteen (15) minutes after the time appointed for holding the meeting or is unwilling to
 act as Chairman, any Director or Person nominated by the Directors shall preside as chairman
 of that meeting, failing which the Shareholders present in person or by proxy shall choose
 any Person present to be chairman of that meeting.

19.7 **Adjournment.** The chairman may with the consent of any general meeting at which a quorum is present
 (and shall if so directed by the meeting) adjourn a meeting from time to time and from place
 to place, but no business shall be transacted at any adjourned meeting other than the business
 left unfinished at the meeting from which the adjournment took place. When a meeting, or
 adjourned meeting, is adjourned for fourteen (14) calendar days or more, notice of the adjourned
 meeting shall be given as in the case of an original meeting. Save as aforesaid it shall
 not be necessary to give any notice of an adjournment or of the business to be transacted
 at an adjourned meeting.

19.8 **Cancellation or Postponement of Meeting.** The Directors may cancel or postpone any duly convened general
 meeting at any time prior to such meeting, except for general meetings requisitioned by Requisitionists
 in accordance with these Articles, for any reason or for no reason, upon notice in writing
 to Shareholders. A postponement may be for a stated period of any length or indefinitely
 as the Directors may determine.

19.9 **Casting of Votes.** At any general meeting a resolution put to the vote of the meeting shall be
 decided on a show of hands, unless a poll is (before or on the declaration of the result
 of the show of hands) demanded by the chairman or any one (1) or more Shareholders who together
 hold not less than 10% of the votes attaching to the total shares that are present in person
 or by proxy, and unless a poll is so demanded, a declaration by the chairman that a resolution
 has, on a show of hands, been carried, or carried unanimously, or by a particular majority,
 or lost, and an entry to that effect in the book of the proceedings of the Company, shall
 be conclusive evidence of the fact, without proof of the number or proportion of the votes
 recorded in favour of, or against, that resolution.

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19.10 **Polls.** If a poll is duly demanded it shall be taken in such manner as the chairman directs,
 and the result of the poll shall be deemed to be the resolution of the meeting at which the
 poll was demanded.

19.11 **Equality of Votes.** All questions submitted to a meeting shall be decided by a simple majority
 of votes except where a greater majority is required by these Articles or by the Law. In
 the case of an equality of votes, whether on a show of hands or on a poll, the chairman of
 the meeting at which the show of hands takes place or at which the poll is demanded, shall
 be entitled to a second or casting vote.

19.12 **Specific Polls.** A poll demanded on the election of a chairman of the meeting or on a question
 of adjournment shall be taken forthwith. A poll demanded on any other question shall be taken
 at such time as the chairman of the meeting directs.

20. **VOTES OF SHAREHOLDERS** 

20.1 **Voting Rights.** Subject to any rights and restrictions for the time being attached to any Share,
 on a show of hands every Shareholder present in person and every Person representing a Shareholder
 by proxy shall, at a general meeting of the Company, have one (1) vote for each Class
 A Share and ten (10) votes for each Class B Share, in each case of which he is the holder
 and on a poll every Shareholder and every Person representing a Shareholder by proxy shall
 have one (1) vote for each Class A Share and ten (10) votes for each Class B Share of which
 he or the Person represented by proxy is the holder. Holders of Class A Shares and Class
 B Shares shall, at all times, vote together as one (1) class on all matters submitted to
 a vote by the Shareholders.

20.2 **Class Consent.** Class consents from the holders of Class A Shares and Class B Shares, as applicable,
 shall be required for any variation to the rights attached to their respective class of shares,
 however, the Directors may treat the two (2) classes of shares as forming one (1) class if
 they consider that both such classes would be affected in the same way by the proposal.

20.3 **No Variation.** The rights attaching to the Class A Shares and the Class B Shares shall not
 be deemed to be varied by the creation or issue of shares with preferred or other rights,
 including, without limitation, shares with enhanced or weighted voting rights.

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20.4 **Change in authorised share capital.** The holders of Class A Shares and Class B Shares, respectively,
 do not have the right to vote separately if the number of authorised shares of such class
 is increased or decreased. Rather, the number of authorised Class A Shares and Class B Shares
 may be increased or decreased (but not below the number of shares of such class then outstanding)
 by both classes voting together by way of an Ordinary Resolution.

20.5 **Joint Holders.** In the case of joint holders the vote of the senior who tenders a vote whether
 in person or by proxy shall be accepted to the exclusion of the votes of the other joint
 holders and for this purpose seniority shall be determined by the order in which the names
 stand in the Register.

20.6 **Shareholder Capacity.** A Shareholder of unsound mind, or in respect of whom an order has been made
 by any court having jurisdiction in lunacy, may vote in respect of Shares carrying the right
 to vote held by him, whether on a show of hands or on a poll, by his committee, or other
 Person in the nature of a committee appointed by that court, and any such committee or other
 Person, may vote in respect of such Shares by proxy.

20.7 **Unpaid Shares.** No Shareholder shall be entitled to vote at any general meeting of the Company
 unless all calls, if any, or other sums presently payable by him in respect of Shares carrying
 the right to vote held by him have been paid.

20.8 **Poll Votes.** On a poll, votes may be given either personally or by proxy.

20.9 **Proxies.** Any Shareholder (including a Shareholder which is a clearing house (or its nominee(s)))
 entitled to attend and vote at a meeting of the Company shall be entitled to appoint another
 person (being a natural person) as his proxy to attend and vote in his place. A Shareholder
 who is the holder of two (2) or more Shares may appoint more than one (1) proxy to represent
 him and vote on his behalf at a general meeting of the Company or at a Class meeting. A proxy
 need not be a Shareholder, and shall be entitled to exercise the same powers on behalf of
 a Shareholder who is a natural person and for whom he acts as proxy as such Shareholder could
 exercise. In addition, a proxy shall be entitled to exercise the same powers on behalf of
 a Shareholder which is a corporation and for which he acts as proxy as such Shareholder could
 exercise as if it were a natural person Shareholder present in person at any general meeting.
 On a poll or a show of hands votes may be given either personally (or, in the case of a Shareholder
 being a corporation, by its duly authorised representative) or by proxy. The instrument appointing
 a proxy shall be in writing under the hand of the appointor or of his attorney duly authorised
 in writing or, if the appointor is a corporation, either under Seal or under the hand of
 an officer or attorney duly authorised. A proxy need not be a Shareholder.

---

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20.10 **Form of Proxy.** An instrument appointing a proxy may be in any usual or common form or such
 other form as the Directors may approve.

20.11 **Deposit of Proxy Appointment Instrument.** The instrument appointing a proxy shall be deposited
 at the Registered Office or at such other place as is specified for that purpose in the notice
 convening the meeting, or in any instrument of proxy sent out by the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) not
 less than 48 hours before the time for holding the meeting or adjourned meeting at which
 the Person named in the instrument proposes to vote; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in
 the case of a poll taken more than 48 hours after it is demanded, be deposited as aforesaid
 after the poll has been demanded and not less than 24 hours before the time appointed for
 the taking of the poll; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) where
 the poll is not taken forthwith but is taken not more than 48 hours after it was demanded
 be delivered at the meeting at which the poll was demanded to the Chairman or to the secretary
 or to any Director, provided that the Directors may in the notice convening the meeting,
 or in an instrument of proxy sent out by the Company, direct that the instrument appointing
 a proxy may be deposited (no later than the time for holding the meeting or adjourned meeting)
 at the Registered Office or at such other place as is specified for that purpose in the notice
 convening the meeting, or in any instrument of proxy sent out by the Company. The Chairman
 may in any event at his discretion direct that an instrument of proxy shall be deemed to
 have been duly deposited. An instrument of proxy that is not deposited in the manner permitted
 shall be invalid.

20.12 **Proxy Instrument.** The instrument appointing a proxy shall be deemed to confer authority to
 demand or join in demanding a poll.

20.13 **No Action.** No action shall be taken by the Shareholders except at an annual or extraordinary
 general meeting called in accordance with these Articles and no action shall be taken by
 the Shareholders by written consent or electronic transmission, unless otherwise as permitted
 by these Articles.

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20.14 **Written Resolutions.** A resolution in writing signed by all the Shareholders for the time being
 entitled to receive notice of and to attend and vote at general meetings of the Company (or
 being corporations by their duly authorised representatives) shall be as valid and effective
 as if the same had been passed at a general meeting of the Company duly convened and held.

21. **CORPORATIONS ACTING BY REPRESENTATIVES AT MEETINGS** 

21.1 Any
 corporation which is a Shareholder or a Director may by resolution of its Directors or other
 governing body authorise such Person as it thinks fit to act as its representative at any
 meeting of the Company or of any meeting of holders of a Class or of the Directors or of
 a committee of Directors, and the Person so authorised shall be entitled to exercise the
 same powers on behalf of the corporation which he represents as that corporation could exercise
 as if it were an individual Shareholder or Director.

22. **DEPOSITARY AND CLEARING HOUSES** 

22.1 If
 a recognised clearing house (or its nominee(s)) or depositary (or its nominee(s)) is a Shareholder
 of the Company it may, by resolution of its Directors or other governing body or by power
 of attorney, authorise such Person(s) as it thinks fit to act as its representative(s), who
 enjoy rights equivalent to the rights of other Shareholders, at any meeting of the Company
 (including but not limited to any general meeting or creditors' meeting) or of any
 Class of Shareholders provided that, if more than one (1) Person is so authorised, the authorisation
 shall specify the number and Class of Shares in respect of which each such Person is so authorised.
 A Person so authorised pursuant to this Article shall be entitled to exercise the same powers
 on behalf of the recognised clearing house (or its nominee(s)) or depositary (or its nominee(s))
 which he represents as that recognised clearing house (or its nominee(s)) or depositary (or
 its nominee(s)) could exercise as if it were an individual Shareholder holding the number
 and Class of Shares specified in such authorisation, including the right to speak and vote
 individually on a show of hands or on a poll.

---

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23. **DIRECTORS** 

23.1 **Number of Directors.** Unless otherwise determined by the Company in general meeting, the number
 of Directors shall not be less than one (1) Director, the exact number of Directors to be
 determined exclusively by resolutions adopted by a majority of the authorized number of Directors
 constituting the Board from time to time. For so long as Shares are listed on the Designated
 Stock Exchange, the Directors shall include such number of Independent Directors as applicable
 law, rules or regulations or the Designated Stock Exchange Rules require for a foreign private
 issuer under the United States securities laws, so long as the Company is a foreign private
 issuer  *.*** 

 ****

23.2 **Vacancy.** Subject to the rights of the holders of any series of preferred shares, any casual vacancies
 on the Board of Directors resulting from death, resignation, disqualification, removal or
 other causes, and any newly created directorships resulting from any increase in the number
 of Directors, shall, unless the Board of Directors determines by resolution that any such
 vacancies or newly created directorships shall be filled by the Shareholders, except as otherwise
 provided by law, be filled only by the affirmative vote of a majority of the Directors then
 in office, even though less than a quorum of the Board of Directors, and not by the Shareholders.
 Any Director elected in accordance with the preceding sentence shall hold office only until
 the first annual general meeting of the Company after his appointment and shall then be eligible
 for re-election.

23.3 **Chairman of the Board.** The Board of Directors shall have a Chairman (who shall be a Director)
 elected and appointed by a majority of the Directors then in office. The period for which
 the Chairman will hold office will also be determined by a majority of all of the Directors
 then in office. The Chairman shall preside as chairman at every meeting of the Board of Directors.
 To the extent the Chairman is not present at a meeting of the Board of Directors within fifteen
 (15) minutes after the time appointed for holding the same, the attending Directors may choose
 one (1) of their number to be the chairman of the meeting.

23.4 **Appointment of Directors.** The Company may by Ordinary Resolution appoint any person to be a Director.

23.5 **Vacancy Appointment.** Subject to the Company's compliance with director nomination procedures
 required under the Designated Stock Exchange Rules as long as Shares are listed on the Designated
 Stock Exchange, at any time or from time to time, the Board shall have the power to appoint
 any person as a Director either to fill a casual vacancy on the Board or as an additional
 Director to the existing Board subject to any maximum number of Directors, if any, as may
 be determined by the shareholders in general meeting. Any Director so appointed to fill a
 casual vacancy shall hold office only until the first general meeting of the Company after
 his appointment and be subject to re-election at such meeting. Any Director so appointed
 as an addition to the existing Board shall hold office only until the first annual general
 meeting of the Company after his appointment and be eligible for re-election at such meeting.
 Any Director so appointed by the Board shall not be taken into account in determining the
 Directors or the number of Directors who are to retire by rotation at an annual general meeting.

---

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23.6 **Term.** At each annual general meeting, one-third (1/3) of the Directors for the time being shall
 retire from office by rotation. However, if the number of Directors is not a multiple of
 three (3), then the number nearest to but not less than one-third shall be the number of
 retiring Directors. The Directors to retire in each year shall be those who have been in
 office longest since their last re-election or appointment but, as between persons who became
 or were last re-elected Directors on the same day, those to retire shall (unless they otherwise
 agree among themselves) be determined by lot. No person, other than a retiring Director,
 shall, unless recommended by the Board for election, be eligible for election to the office
 of Director at any general meeting, unless notice in writing of the intention to propose
 that person for election as a Director and notice in writing by that person of his willingness
 to be elected has been lodged at the head office or at the registration office of the Company.
 The period for lodgment of such notices shall commence no earlier than the day after despatch
 of the notice of the relevant meeting and end no later than seven (7) days before the date
 of such meeting and the minimum length of the period during which such notices may be lodged
 must be at least seven (7) days.

23.7 **Removal of Directors.** A Director may be removed from office by Ordinary Resolution of the Company,
 notwithstanding anything in these Articles or in any agreement between the Company and such
 Director (but without prejudice to any claim for damages under such agreement). The notice
 of any meeting at which a resolution to remove a Director shall be proposed or voted upon
 must contain a statement of the intention to remove that Director and such notice must be
 served on that Director not less than ten (10) calendar days before the meeting. Such Director
 is entitled to attend the meeting and be heard on the motion for his removal.

23.8 **Company Policies.** The Board may, from time to time, and except as required by applicable law
 or the Designated Stock Exchange Rules, adopt, institute, amend, modify or revoke the corporate
 governance policies or initiatives, which shall be intended to set forth the policies of
 the Company and the Board on various corporate governance related matters as the Board shall
 determine by resolution from time to time.

---

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23.9 **No Minimum Shareholding.** A Director shall not be required to hold any Shares in the Company
 by way of qualification nor is there any specified upper or lower age limit for the Directors
 either for accession to or retirement from the Board. A Director who is not a Shareholder
 of the Company shall nevertheless be entitled to attend and speak at general meetings.

23.10 **Remuneration of Directors.** The remuneration of the Directors may be determined by the Directors or
 by Ordinary Resolution.

23.11 **Office Remuneration.** The Directors shall be entitled to be paid their travelling, hotel and
 other expenses properly incurred by them in going to, attending and returning from meetings
 of the Directors, or any committee of the Directors, or general meetings of the Company,
 or otherwise in connection with the business of the Company, or to receive such fixed allowance
 in respect thereof as may be determined by the Directors from time to time, or a combination
 partly of one such method and partly the other.

24. **ALTERNATE DIRECTOR OR PROXY** 

24.1 **Alternate Appointment.** Any Director may in writing appoint another Person to be his alternate and,
 save to the extent provided otherwise in the form of appointment, such alternate shall have
 authority to sign written resolutions on behalf of the appointing Director, but shall not
 be required to sign such written resolutions where they have been signed by the appointing
 director, and to act in such Director's place at any meeting of the Directors at which
 the appointing Director is unable to be present. Every such alternate shall be entitled to
 attend and vote at meetings of the Directors as a Director when the Director appointing him
 is not personally present and where he is a Director to have a separate vote on behalf of
 the Director he is representing in addition to his own vote. A Director may at any time in
 writing revoke the appointment of an alternate appointed by him. Such alternate shall be
 deemed for all purposes to be a Director of the Company and shall not be deemed to be the
 agent of the Director appointing him.

---

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24.2 **Director Proxy.** Any Director may appoint any Person, whether or not a Director, to be the proxy
 of that Director to attend and vote on his behalf, in accordance with instructions given
 by that Director, or in the absence of such instructions at the discretion of the proxy,
 at a meeting or meetings of the Directors which that Director is unable to attend personally.
 The instrument appointing the proxy shall be in writing under the hand of the appointing
 Director and shall be in any usual or common form or such other form as the Directors may
 approve, and must be lodged with the chairman of the meeting of the Directors at which such
 proxy is to be used, or first used, prior to the commencement of the meeting. A proxy who
 attends such a meeting shall be counted in the quorum. Every such proxy shall be entitled
 to attend and vote in such appointing Director's place when the appointing Director
 is not personally present at such meeting; provided, that, prior to each meeting of the Board
 at which the proxy is to vote, the Director shall instruct the proxy as to the manner in
 which he is to cast the vote and shall inform the Board accordingly and the proxy shall be
 entitled to cast a vote on behalf of the Director only in accordance with such instructions.
 Where the proxy is a Director he shall be entitled to have such separate vote on behalf of
 the Director for which he is acting as proxy in addition to his own vote. The remuneration
 of such proxy shall be payable out of the remuneration of the Director appointing him–and
 the proportion thereof shall be agreed between them. The signature of a proxy to any resolution
 in writing of the Directors or a committee thereof shall, unless the terms of the appointment
 provides to the contrary, be as effective as the signature of the Director appointing him
 as proxy. For the avoidance of doubt, any Director that has the right to attend any meeting
 of a committee established by the Board may appoint a proxy to act in his place at such meeting.
 Where the Director appointing a proxy is an Interested Director in respect of a matter to
 be considered at a meeting of the Board, the Interested Director shall procure that the proxy
 declares the nature of his interest at such meeting and the proxy may be counted in the quorum
 may also be entitled to vote on behalf of the Interested Director in respect of any contract
 or proposed contract or arrangement in which such Interested Director is interested. For
 the avoidance of doubt, a person who is appointed a proxy shall not in consequence thereof
 become an Indemnified Person.

25. **POWERS AND DUTIES OF DIRECTORS** 

25.1 **Management by Directors**. Subject to the Companies Act, these Articles and to any resolutions passed
 in a general meeting, the business of the Company shall be managed by the Directors, who
 may pay all expenses incurred in setting up and registering the Company and may exercise
 all powers of the Company. No resolution passed by the Company in general meeting shall invalidate
 any prior act of the Directors that would have been valid if that resolution had not been
 passed. The Directors may from time to time provide for the management of the affairs of
 the Company in such manner as they shall think fit and the provisions contained in the three
 next following Articles shall not limit the general powers conferred by this Article.

---

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25.2 **Officers.** Subject to these Articles, the Directors may from time to time appoint any natural person
 or corporation, whether or not a Director to hold such office in the Company as the Directors
 may think necessary for the administration of the Company, including but not limited to,
 the office of president, one (1) or more vice-presidents, treasurer, assistant treasurer,
 manager or controller, and for such term and at such remuneration (whether by way of salary
 or commission or participation in profits or partly in one way and partly in another), and
 with such powers and duties as the Directors may think fit. Any natural person or corporation
 so appointed by the Directors may be removed by the Directors. The Directors may also appoint
 one (1) or more of their number to the office of managing director upon like terms, but any
 such appointment shall *ipso facto* terminate if any managing director ceases for any
 cause to be a Director, or if the Company by Ordinary Resolution resolves that his tenure
 of office be terminated.

25.3 **Appointment of Secretary.** The Directors may appoint any natural person or corporation to be a Secretary
 (and if need be an assistant Secretary or assistant Secretaries) who shall hold office for
 such term, at such remuneration and upon such conditions and with such powers as they think
 fit. Any Secretary or assistant Secretary so appointed by the Directors may be removed by
 the Directors or by the Company by Ordinary Resolution.

25.4 **Delegation.** The Directors may delegate any of their powers to committees consisting of such member
 or members of their body as they think fit; any committee so formed shall in the exercise
 of the powers so delegated conform to any regulations that may be imposed on it by the Directors.
 The Directors from time to time and at any time may establish any committees, local boards
 or agencies for managing any of the affairs of the Company and may appoint any natural person
 or corporation to be a member of such committees or local boards and may appoint any managers
 or agents of the Company and may fix the remuneration of any such natural person or corporation.
 Subject to any such conditions, the proceedings of any such committee, local board or agency
 shall be governed by the Articles regulating the proceedings of Directors, so far as they
 are capable of applying.

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25.5 **Third Party Delegation**. The Directors may from time to time and at any time by power of attorney
 (whether under Seal or under hand) or otherwise appoint any company, firm or Person or body
 of Persons, whether nominated directly or indirectly by the Directors, to be the attorney
 or attorneys or authorised signatory (any such person being an "Attorney" or
 "Authorised Signatory", respectively) of the Company for such purposes and with
 such powers, authorities and discretion (not exceeding those vested in or exercisable by
 the Directors under these Articles) and for such period and subject to such conditions as
 they may think fit, and any such power of attorney or other appointment may contain such
 provisions for the protection and convenience of Persons dealing with any such Attorney or
 Authorised Signatory as the Directors may think fit, and may also authorise any such Attorney
 or Authorised Signatory to delegate all or any of the powers, authorities and discretion
 vested in him.

25.6 **Delegation to Committees.** The Directors from time to time and at any time may delegate to any such
 committee (including, without limitation, the Audit Committee, the Compensation Committee
 and the Nominations Committee), local board, manager or agent any of the powers, authorities
 and discretions for the time being vested in the Directors and may authorise the members
 for the time being of any such local board, or any of them to fill any vacancies therein
 and to act notwithstanding vacancies and any such appointment or delegation may be made on
 such terms and subject to such conditions as the Directors may think fit and the Directors
 may at any time remove any natural person or corporation so appointed and may annul or vary
 any such delegation, but no Person dealing in good faith and without notice of any such annulment
 or variation shall be affected thereby.

25.7 **Sub-delegation.** Any such delegates as aforesaid may be authorised by the Directors to sub-delegate all or
 any of the powers, authorities, and discretion for the time being vested in them.

25.8 **Committee Charter.** The Directors may adopt formal written charters for committees and, if so adopted,
 shall review and assess the adequacy of such formal written charters on an annual basis.
 Each of these committees shall be empowered to do all things necessary to exercise the rights
 of such committee set forth in these Articles and shall have such powers as the Directors
 may delegate pursuant to these Articles and as required by the rules and regulations of the
 Designated Stock Exchange, the Securities and Exchange Commission and/or any other competent
 regulatory authority or otherwise under applicable law.

---

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26. **BORROWING POWERS OF DIRECTORS** 

26.1 The
 Directors may from time to time at their discretion exercise all the powers of the Company
 to raise or borrow money and to mortgage or charge its undertaking, property and assets (present
 and future) and uncalled capital or any part thereof, to issue debentures, debenture stock,
 bonds and other securities, whether outright or as collateral security for any debt, liability
 or obligation of the Company or of any third party.

27. THE
 SEAL

27.1 **Use of Seal**. The Seal shall not be affixed to any instrument except by the authority of a
 resolution of the Directors provided always that such authority may be given prior to or
 after the affixing of the Seal and if given after may be in general form confirming a number
 of affixings of the Seal. The Seal shall be affixed in the presence of a Director or a Secretary
 (or an assistant Secretary) or in the presence of any one (1) or more Persons as the Directors
 may appoint for the purpose and every Person as aforesaid shall sign every instrument to
 which the Seal is so affixed in their presence.

27.2 **Duplicate Seal**. The Company may maintain a facsimile of the Seal in such countries or places as
 the Directors may appoint and such facsimile Seal shall not be affixed to any instrument
 except by the authority of a resolution of the Directors provided always that such authority
 may be given prior to or after the affixing of such facsimile Seal and if given after may
 be in general form confirming a number of affixings of such facsimile Seal. The facsimile
 Seal shall be affixed in the presence of such Person or Persons as the Directors shall for
 this purpose appoint and such Person or Persons as aforesaid shall sign every instrument
 to which the facsimile Seal is so affixed in their presence and such affixing of the facsimile
 Seal and signing as aforesaid shall have the same meaning and effect as if the Seal had been
 affixed in the presence of and the instrument signed by a Director or a Secretary (or an
 assistant Secretary) or in the presence of any one (1) or more Persons as the Directors may
 appoint for the purpose.

27.3 **Authentication and Filing**. Notwithstanding the foregoing, a Secretary or any assistant Secretary shall
 have the authority to affix the Seal, or the facsimile Seal, to any instrument for the purposes
 of attesting authenticity of the matter contained therein but which does not create any obligation
 binding on the Company.

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28. **DISQUALIFICATION OF DIRECTORS** 

28.1 The
 office of Director shall be vacated, if the Director:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) resigns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) dies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) is
 declared to be of unsound mind and the Board resolves that his office be vacated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) becomes
 bankrupt or has a receiving order made against him or suspends payment or compounds with
 his creditors generally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) is
 prohibited from being or ceases to be a director by operation of law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) without
 special leave, is absent from meetings of the Board for three (3) consecutive meetings, and
 the Board resolves that his office is vacated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) has
 been required by the Designated Stock Exchange to cease to be a Director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) is
 removed from office by the requisite majority of the Directors or otherwise pursuant to these
 Articles.

29. **PROCEEDINGS OF DIRECTORS** 

29.1 **Voting.** The Directors may meet together (either within or without the Cayman Islands) for the despatch
 of business, adjourn, and otherwise regulate their meetings and proceedings as they think
 fit. Questions arising at any meeting shall be decided by a majority of votes. At any meeting
 of the Directors, each Director present in person or represented by his proxy or alternate
 shall be entitled to one (1) vote. In case of an equality of votes the Chairman shall have
 a second or casting vote. A Director may, and a Secretary or assistant Secretary on the requisition
 of a Director shall, at any time summon a meeting of the Directors.

29.2 **Conference Call.** A Director may participate in any meeting of the Directors, or of any committee
 appointed by the Directors of which such Director is a member, by means of telephone or similar
 communication equipment by way of which all Persons participating in such meeting can communicate
 with each other and such participation shall be deemed to constitute presence in person at
 the meeting.

---

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29.3 **Quorum.** The quorum necessary for the transaction of the business of the Directors may be fixed
 by the Directors, and unless so fixed, the quorum shall be a majority of Directors then in
 office. A Director represented by proxy or by an alternate Director at any meeting shall
 be deemed to be present for the purposes of determining whether or not a quorum is present.

30. **DIRECTORS' INTERESTS** 

30.1 **General Notice of Interests**. A Director who is in any way, whether directly or indirectly, interested
 in a contract or transaction or proposed contract or transaction with the Company shall declare
 the nature of his interest at a meeting of the Directors. A general notice given to the Directors
 by any Director to the effect that he is a shareholder of any specified company or firm and
 is to be regarded as interested in any contract or transaction which may thereafter be made
 with that company or firm shall be deemed a sufficient declaration of interest in regard
 to any contract so made or transaction so consummated. A Director may vote in respect of
 any contract or transaction or proposed contract or transaction that he or she may be interested
 therein, and he or she may be counted in the quorum of any meeting of the Directors at which
 any such contract or transaction or proposed contract or transaction shall come before the
 meeting for consideration.

30.2 **Other Office**. A Director may hold any other office or place of profit under the Company (other
 than the office of auditor) in conjunction with his office of Director for such period and
 on such terms (as to remuneration and otherwise) as the Directors may determine and no Director
 or intending Director shall be disqualified by his office from contracting with the Company
 either with regard to his tenure of any such other office or place of profit or as vendor,
 purchaser or otherwise, nor shall any such contract or arrangement entered into by or on
 behalf of the Company in which any Director is in any way interested, be liable to be avoided,
 nor shall any Director so contracting or being so interested be liable to account to the
 Company for any profit realised by any such contract or arrangement by reason of such Director
 holding that office or of the fiduciary relation thereby established. A Director, notwithstanding
 his or her interest, may be counted in the quorum present at any meeting of the Directors
 whereat he or she or any other Director is appointed to hold any such office or place of
 profit under the Company or whereat the terms of any such appointment are arranged, and he
 or she may also vote on any such appointment or arrangement.

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30.3 **Disclosure of Interests**. Any Director may act by himself or through his firm in a professional capacity
 for the Company, and he or his firm shall be entitled to remuneration for professional services
 as if he were not a Director; provided that nothing herein contained shall authorise a Director
 or his firm to act as auditor to the Company. A Director may be counted in the quorum present
 for the portion of any meeting of the Directors whereat he or she is appointed to act by
 himself or herself or through his or her firm in a professional capacity for the Company
 or whereat the terms of any such appointment are arranged, and he or she may also vote on
 any such appointment or arrangement.

30.4 **Minutes.** The Directors shall cause minutes to be made for the purpose of recording:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 appointments of Officers made by the Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 names of the Directors present at each meeting of the Directors and of any committee of the
 Directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all
 resolutions and proceedings at all meetings of the Company, and of the Directors and of committees
 of Directors.

30.5 **Signed Minutes.** When the Chairman of a meeting of the Directors signs the minutes of such meeting
 the same shall be deemed to have been duly held notwithstanding the absence of a Director
 or Directors (so long as a quorum was present) or that there may have been a technical defect
 in the proceedings.

30.6 **Written Resolution.** A resolution in writing signed by all the Directors or all the members of
 a committee of Directors entitled to receive notice of a meeting of Directors or committee
 of Directors, as the case may be (an alternate Director, subject as provided otherwise in
 the terms of appointment of the alternate Director, being entitled to sign such a resolution
 on behalf of his appointer), shall be as valid and effectual as if it had been passed at
 a duly called and constituted meeting of Directors or committee of Directors, as the case
 may be. When signed a resolution may consist of several documents each signed by one (1)
 or more of the Directors or his duly appointed alternate.

30.7 **Notice of Meetings**. A Director may, or another Officer on the requisition of a Director shall,
 call a meeting of the Directors by at least two (2) days' notice in writing to every
 Director which notice shall set forth the general nature of the business to be considered
 unless notice is waived by all the Directors either at, before or after the meeting is held.

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30.8 **Acting in Vacancy.** The continuing Directors may act notwithstanding any vacancy in their body
 but if and for so long as their number is reduced below the number fixed by or pursuant to
 these Articles as the necessary quorum of Directors, the continuing Directors may act for
 the purpose of increasing the number, or of summoning a general meeting of the Company, but
 for no other purpose.

30.9 **Chairman of the Committee.** Subject to any regulations imposed on it by the Directors, a committee
 appointed by the Directors may elect a chairman of its meetings. If no such chairman is elected,
 or if at any meeting the chairman is not present within fifteen (15) minutes after the time
 appointed for holding the meeting, the committee members present may choose one (1) of their
 number to be chairman of the meeting.

30.10 **Adjournment of the Committee Meeting.** A committee appointed by the Directors may meet and adjourn
 as it thinks proper. Subject to any regulations imposed on it by the Directors, questions
 arising at any meeting shall be determined by a majority of votes of the committee members
 present and in case of an equality of votes the chairman shall have a second or casting vote.

30.11 **Defects.** All acts done by any meeting of the Directors or of a committee of Directors, or by any
 Person acting as a Director, shall notwithstanding that it be afterwards discovered that
 there was some defect in the appointment of any such Director or Person acting as aforesaid,
 or that they or any of them were disqualified, be as valid as if every such Person had been
 duly appointed and was qualified to be a Director.

31. **PRESUMPTION OF ASSENT** 

31.1 A
 Director of the Company who is present at a meeting of the Board of Directors at which an
 action on any Company matter is taken shall be presumed to have assented to the action taken
 unless his dissent shall be entered in the minutes of the meeting or unless he shall file
 his written dissent from such action with the person acting as the chairman or secretary
 of the meeting before the adjournment thereof or shall forward such dissent by personal delivery,
 registered post, recognized overnight courier, or by electronic means with confirmation of
 receipt, to such person immediately after the adjournment of the meeting. Such right to dissent
 shall not apply to a Director who voted in favour of such action.

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32. **DIVIDENDS** 

32.1 **Payment of Dividends.** Subject to any rights and restrictions for the time being attached to any
 Shares, the Directors may from time to time declare dividends (including interim dividends)
 and other distributions on Shares in issue and authorise payment of the same out of the funds
 of the Company lawfully available therefor.

32.2 **Declaration of Dividends.** Subject to any rights and restrictions for the time being attached to any
 Shares, the Company by Ordinary Resolution may declare dividends, but no dividend shall exceed
 the amount recommended by the Directors.

32.3 **Setting aside of Funds.** The Directors may, before recommending or declaring any dividend, set
 aside out of the funds legally available for distribution such sums as they think proper
 as a reserve or reserves which shall, in the absolute discretion of the Directors be applicable
 for meeting contingencies, or for equalising dividends or for any other purpose to which
 those funds may be properly applied and pending such application may in the absolute discretion
 of the Directors, either be employed in the business of the Company or be invested in such
 investments (other than Shares of the Company) as the Directors may from time to time think
 fit.

32.4 **Payment.** Any dividend payable in cash to a Shareholder may be paid in any manner determined by
 the Directors. If paid by cheque it will be sent by mail addressed to the holder at his address
 in the Register, or addressed to such person and at such addresses as the holder may direct.
 Every such cheque or warrant shall, unless the holder or joint holders otherwise direct,
 be made payable to the order of the holder or, in the case of joint holders, to the order
 of the holder whose name stands first on the Register in respect of such Shares, and shall
 be sent at his or their risk and payment of the cheque or warrant by the bank on which it
 is drawn shall constitute a good discharge to the Company.

32.5 **Distribution in Kind.** The Directors may recommend to Shareholders that a dividend shall be paid wholly
 or partly by the distribution of specific assets (which may consist of the shares or securities
 of any other company) and may settle all questions concerning such distribution. Without
 limiting the generality of the foregoing, subject to the approval of Shareholders by an Ordinary
 Resolution, the Directors may fix the value of such specific assets, may determine that cash
 payment shall be made to some Shareholders in lieu of specific assets and may vest any such
 specific assets in trustees on such terms as the Directors think fit.

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32.6 **Dividend Amounts.** Subject to any rights and restrictions for the time being attached to any Shares,
 all dividends shall be declared and paid according to the amounts paid up on the Shares,
 but if and for so long as nothing is paid up on any of the Shares, dividends may be declared
 and paid according to the par value of the Shares. No amount paid on a Share in advance of
 calls shall, while carrying interest, be treated for the purposes of this Article as paid
 on the Share.

32.7 **Joint Holders.** If several Persons are registered as joint holders of any Share, any of them
 may give effective receipts for any dividend or other moneys payable on or in respect of
 the Share.

32.8 **No Interest.** No dividend shall bear interest against the Company.

32.9 **Unclaimed payments.** Any dividend unclaimed after a period of six (6) years from the date of declaration
 of such dividend may be forfeited by the Board of Directors and, if so forfeited, shall revert
 to the Company.

33. **ACCOUNTS, AUDIT AND ANNUAL RETURN AND DECLARATION** 

33.1 **Accounts.** The books of account relating to the Company's affairs shall be kept in such manner
 as may be determined from time to time by the Directors.

33.2 **Inspection.** The books of account shall be kept at the Registered Office, or at such other place or
 places as the Directors think fit, and shall always be open to the inspection of the Directors.

33.3 **Financial Information**. The Directors may from time to time determine whether and to what extent
 and at what times and places and under what conditions or regulations the accounts and books
 of the Company or any of them shall be open to the inspection of Shareholders not being Directors,
 and no Shareholder (not being a Director) shall have any right of inspecting any account
 or book or document of the Company except as conferred by law or authorised by the Directors
 or by Ordinary Resolution.

33.4 **Audit.** The accounts relating to the Company's affairs shall be audited in such manner and
 with such financial year end as may be determined from time to time by the Directors or failing
 any determination as aforesaid shall not be audited.

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33.5 **Auditor.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 Shareholders shall at each annual general meeting by Ordinary Resolution appoint one (1)
 or more firms of auditors to hold office until the conclusion of the next annual general
 meeting on such terms and which such duties as may be agreed with the Board, but if an appointment
 is not made, the auditors in office shall continue in office until a successor is appointed.
 Subject to compliance with the Designated Stock Exchange Rules, the Board may fill any casual
 vacancy in the office of auditors, but while any such vacancy continues the surviving or
 continuing auditors (if any) may act. Subject to the approval of the Audit Committee, the
 remuneration of the auditors shall be fixed by or on the authority of the Shareholders in
 the annual general meeting by Ordinary Resolution except that in any particular year the
 Shareholders in general meeting may by Ordinary Resolution delegate the fixing of such remuneration
 to the Board and, subject to compliance with the Designated Stock Exchange Rules, the remuneration
 of any Auditors appointed to fill any casual vacancy may be fixed by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Shareholders may, at any general meeting convened and held in accordance with these Articles,
 remove the auditors by Ordinary Resolution at any time before the expiration of the term
 of office and shall, by Ordinary Resolution, at that meeting appoint new auditors in their
 place for the remainder of the term.

33.6 **Access Right**. Every auditor of the Company shall have a right of access at all times to the
 books and accounts and vouchers of the Company and shall be entitled to require from the
 Directors and Officers of the Company such information and explanation as may be necessary
 for the performance of the duties of the auditors.

33.7 **Auditor Reports**. The auditors shall, if so required by the Directors, make a report on the accounts
 of the Company during their tenure of office at the next annual general meeting following
 their appointment, and at any time during their term of office, upon request of the Directors
 or any general meeting of the Shareholders.

33.8 **Annual Returns.** The Directors in each year shall prepare, or cause to be prepared, an annual
 return and declaration setting forth the particulars required by the Companies Act and deliver
 a copy thereof to the Registrar of Companies in the Cayman Islands.

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34. **CAPITALISATION OF RESERVES** 

34.1 Subject
 to the Companies Act, the Directors may, with the authority of an Ordinary Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) resolve
 to capitalise an amount standing to the credit of reserves (including a Share Premium Account,
 capital redemption reserve and profit and loss account), whether or not available for distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) appropriate
 the sum resolved to be capitalised to the Shareholders in proportion to the nominal amount
 of Shares (whether or not fully paid) held by them respectively and apply that sum on their
 behalf in or towards:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) paying
 up the amounts (if any) for the time being unpaid on Shares held by them respectively, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) paying
 up the amounts (if any) for the time being unpaid on Shares held by them respectively, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) allot
 the Shares or debentures, credited as fully paid, to the Shareholders (or as they may direct)
 in those proportions, or partly in one way and partly in the other, but the Share Premium
 Account, the capital redemption reserve and profits which are not available for distribution
 may, for the purposes of this Article, only be applied in paying up unissued Shares to be
 allotted to Shareholders credited as fully paid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) make
 any arrangements they think fit to resolve a difficulty arising in the distribution of a
 capitalised reserve and in particular, without limitation, where Shares or debentures become
 distributable in fractions the Directors may deal with the fractions as they think fit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) authorise
 a Person to enter (on behalf of all the Shareholders concerned) into an agreement with the
 Company providing for either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 allotment to the Shareholders respectively, credited as fully paid, of Shares or debentures
 to which they may be entitled on the capitalisation, or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the payment by the Company on behalf of the Shareholders (by the application of their respective proportions of the reserves resolved to be capitalised) of the amounts or part of the amounts remaining unpaid on their existing Shares, and any such agreement made under this authority being effective and binding on all those Shareholders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) generally
 do all acts and things required to give effect to the resolution.

35. **SHARE PREMIUM ACCOUNT** 

35.1 The
 Directors shall in accordance with the Companies Act establish a Share Premium Account and
 shall carry to the credit of such account from time to time a sum equal to the amount or
 value of the premium paid on the issue of any Share.

35.2 There
 shall be debited to any Share Premium Account on the redemption or purchase of a Share the
 difference between the nominal value of such Share and the redemption or purchase price provided
 always that at the discretion of the Directors such sum may be paid out of the profits of
 the Company or, if permitted by the Companies Act, out of capital.

36. **NOTICES** 

36.1 **Delivery of Notices**. Except as otherwise provided in these Articles, any notice or document may
 be served by the Company or by the Person entitled to give notice to any Shareholder either
 personally, or by posting it by airmail or air courier service in a prepaid letter addressed
 to such Shareholder at his address as appearing in the Register, or by electronic mail to
 any electronic mail address such Shareholder may have specified in writing for the purpose
 of such service of notices, or by facsimile or by placing it on the Company's Website
 should the Directors deem it appropriate provided that the Company has obtained the Shareholder's
 prior express positive confirmation in writing to receive notices in such manner. In the
 case of joint holders of a Share, all notices shall be given to that one (1) of the joint
 holders whose name stands first in the Register in respect of the joint holding, and notice
 so given shall be sufficient notice to all the joint holders.

36.2 **Outside Delivery.** Notices posted to addresses outside the Cayman Islands shall be forwarded by
 prepaid airmail.

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36.3 **Deemed Receipt of Notice.** Any Shareholder present, either personally or by proxy, at any meeting
 of the Company shall for all purposes be deemed to have received due notice of such meeting
 and, where requisite, of the purposes for which such meeting was convened.

36.4 **Notice Provisions.** Any notice or other document, if served by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) post,
 shall be deemed to have been served five (5) calendar days after the time when the letter
 containing the same is posted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) facsimile,
 shall be deemed to have been served upon production by the transmitting facsimile machine
 of a report confirming transmission of the facsimile in full to the facsimile number of the
 recipient;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) recognised
 courier service, shall be deemed to have been served 48 hours after the time when the letter
 containing the same is delivered to the courier service; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) electronic
 mail, shall be deemed to have been served immediately upon the time of the transmission by
 electronic mail.

In proving service by post or courier service it shall be sufficient to prove that the letter containing the notice or documents was properly addressed and duly posted or delivered to the courier service.

36.5 **Deemed Service.** Any notice or document delivered or sent by post to or left at the registered
 address of any Shareholder in accordance with the terms of these Articles shall notwithstanding
 that such Shareholder be then dead or bankrupt, and whether or not the Company has notice
 of his death or bankruptcy, be deemed to have been duly served in respect of any Share registered
 in the name of such Shareholder as sole or joint holder, unless his name shall at the time
 of the service of the notice or document, have been removed from the Register as the Shareholder,
 and such service shall for all purposes be deemed a sufficient service of such notice or
 document on all Persons interested (whether jointly with or as claiming through or under
 him) in the Share.

36.6 **Notices of General Meeting**. Notice of every general meeting of the Company shall be given to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 Shareholders holding Shares with the right to receive notice and who have supplied to the
 Company an address for the giving of notices to them; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) every
 Person entitled to a Share in consequence of the death or bankruptcy of a Shareholder, who
 but for his death or bankruptcy would be entitled to receive notice of the meeting.

No other Person shall be entitled to receive notices of general meetings.

37. **INFORMATION** 

37.1 No
 Shareholder shall be entitled to require discovery of any information in respect of any detail
 of the Company's trading or any information which is or may be in the nature of a trade
 secret or secret process which may relate to the conduct of the business of the Company and
 which in the opinion of the Board would not be in the interests of the Shareholders of the
 Company to communicate to the public.

37.2 The
 Board shall be entitled to release or disclose any information in its possession, custody
 or control regarding the Company or its affairs to any of its Shareholders including, without
 limitation, information contained in the Register and transfer books of the Company.

38. **INDEMNITY** 

38.1 Every
 Director, Secretary, assistant Secretary, or other Officer for the time being and from time
 to time of the Company (but not including the Company's auditors) (each an "**Indemnified Person**") shall be indemnified and secured harmless against all actions, proceedings,
 costs, charges, expenses, losses, damages or liabilities incurred or sustained by such Indemnified
 Person, other than by reason of such Indemnified Person's own dishonesty, wilful default
 or fraud, in or about the conduct of the Company's business or affairs or in the execution
 or discharge of his duties, powers, authorities or discretions (including as a result of
 any mistake of judgment), including without prejudice to the generality of the foregoing,
 any costs, expenses (including reasonable attorneys' fees), losses or liabilities incurred
 by such Indemnified Person in defending (whether successfully or otherwise) any civil proceedings
 concerning the Company or its affairs in any court whether in the Cayman Islands or elsewhere
 (the "**Indemnified Matters** ").

38.2 Without
 prejudice to the generality of the foregoing, the Indemnified Matters include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for
 the acts, receipts, neglects, defaults or omissions of any other Director or Officer or agent
 of the Company; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for
 any loss on account of defect of title to any property of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) on
 account of the insufficiency of any security in or upon which any money of the Company shall
 be invested; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) for
 any loss incurred through any bank, broker or other similar Person; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) for
 any loss occasioned by any negligence, default, breach of duty, breach of trust, error of
 judgement or oversight on such Indemnified Person's part; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) for
 any loss, damage or misfortune whatsoever which may happen in or arise from the execution
 or discharge of the duties, powers, authorities, or discretions of such Indemnified Person's
 office or in relation thereto,

unless the same shall happen through such Indemnified Person's own dishonesty, wilful default or fraud.

39. **FINANCIAL YEAR** 

39.1 Unless
 the Directors otherwise prescribe, the financial year of the Company shall end on June 30<sup>th</sup>
 in each year and shall begin on July 1st in each year.

40. **NON-RECOGNITION OF TRUSTS** 

40.1 No
 Person shall be recognised by the Company as holding any Share upon any trust and the Company
 shall not, unless required by law, be bound by or be compelled in any way to recognise (even
 when having notice thereof) any equitable, contingent, future or partial interest in any
 Share or (except only as otherwise provided by these Articles or as the Companies Act requires)
 any other right in respect of any Share except an absolute right to the entirety thereof
 in each Shareholder registered in the Register.

41. **WINDING UP** 

41.1 If
 the Company shall be wound up the liquidator may, with the sanction of a Special Resolution
 of the Company and any other sanction required by the Companies Act, divide amongst the Shareholders
 in species or in kind the whole or any part of the assets of the Company (whether they shall
 consist of property of the same kind or not) and may for that purpose value any assets and
 determine how the division shall be carried out as between the Shareholders or different
 classes of Shareholders. The liquidator may, with the like sanction, vest the whole or any
 part of such assets in trustees upon such trusts for the benefit of the Shareholders as the
 liquidator, with the like sanction, shall think fit, but so that no Shareholder shall be
 compelled to accept any asset upon which there is a liability.

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41.2 If
 the Company shall be wound up, and the assets available for distribution amongst the Shareholders
 shall be insufficient to repay the whole of the share capital, such assets shall be distributed
 so that, as nearly as may be, the losses shall be borne by the Shareholders in proportion
 to the par value of the Shares held by them. If in a winding up the assets available for
 distribution amongst the Shareholders shall be more than sufficient to repay the whole of
 the share capital at the commencement of the winding up, the surplus shall be distributed
 amongst the Shareholders in proportion to the par value of the Shares held by them at the
 commencement of the winding up subject to a deduction from those Shares in respect of which
 there are monies due, of all monies payable to the Company for unpaid calls or otherwise.
 This Article is without prejudice to the rights of the holders of Shares issued upon special
 terms and conditions.

42. **AMENDMENT OF MEMORANDUM AND ARTICLES OF ASSOCIATION** 

42.1 Subject
 to the Companies Act, the Company may at any time and from time to time by Special Resolution
 alter or amend the Memorandum and/or these Articles in whole or in part.

43. **CLOSING OF REGISTER OR FIXING RECORD DATE** 

43.1 **Closing of Register**. For the purpose of determining those Shareholders that are entitled to receive
 notice of, attend or vote at any meeting of Shareholders or any adjournment thereof, or those
 Shareholders that are entitled to receive payment of any dividend, or in order to make a
 determination as to who is a Shareholder for any other purpose, the Directors may, by any
 means in accordance with the requirements of any Designated Stock Exchange, provide that
 the Register shall be closed for transfers for a stated period which shall not exceed in
 any case forty (40) calendar days. If the Register shall be so closed for the purpose of
 determining those Shareholders that are entitled to receive notice of, attend or vote at
 a meeting of Shareholders the Register shall be so closed for at least ten (10) calendar
 days immediately preceding such meeting and the record date for such determination shall
 be the date of the closure of the Register.

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43.2 **Record Date Determination**. In lieu of or apart from closing the Register, the Directors may
 fix in advance a date as the record date for any such determination of those Shareholders
 that are entitled to receive notice of, attend or vote at a meeting of the Shareholders and
 for the purpose of determining those Shareholders that are entitled to receive payment of
 any dividend the Directors may, at or within ninety (90) calendar days prior to the date
 of declaration of such dividend, fix a subsequent date as the record date for such determination.

43.3 **No Record Date Chosen**. If the Register is not so closed and no record date is fixed for
 the determination of those Shareholders entitled to receive notice of, attend or vote at
 a meeting of Shareholders or those Shareholders that are entitled to receive payment of a
 dividend, the date on which notice of the meeting is posted or the date on which the resolution
 of the Directors declaring such dividend is adopted, as the case may be, shall be the record
 date for such determination of Shareholders. When a determination of those Shareholders that
 are entitled to receive notice of, attend or vote at a meeting of Shareholders has been made
 as provided in this Article, such determination shall apply to any adjournment thereof.

44. **REGISTRATION BY WAY OF CONTINUATION** 

44.1 The
 Company may by Special Resolution resolve to be registered by way of continuation in a jurisdiction
 outside the Cayman Islands or such other jurisdiction in which it is for the time being incorporated,
 registered or existing. In furtherance of a resolution adopted pursuant to this Article,
 the Directors may cause an application to be made to the Registrar of Companies to deregister
 the Company in the Cayman Islands or such other jurisdiction in which it is for the time
 being incorporated, registered or existing and may cause all such further steps as they consider
 appropriate to be taken to effect the transfer by way of continuation of the Company.

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45. **DISCLOSURE** 

45.1 The
 Directors, or any service providers (including the Officers, the Secretary and the registered
 office agent of the Company) specifically authorised by the Directors, shall be entitled
 to disclose to any regulatory or judicial authority any information regarding the affairs
 of the Company including without limitation information contained in the Register and books
 of the Company.

---

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## Exhibit 5.1

**Exhibit 5.1**

---

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|:---|:---|
| ![](ex5-1_001.jpg) | Harney Westwood & Riegels Singapore LLP<br> 138 Market Street<br> #24-04 CapitaGreen<br> Singapore 048946<br> Tel: +65 6800 9830<br> Fax: +65 6800 9831 |

---

15 July 2025

lishi.fong@harneys.com

+65 6800 9833

059929.0001/LZF

**Mobile-health Network Solutions**

c/o Harneys Fiduciary (Cayman) Limited

4<sup>th</sup> Floor, Harbour Place

103 South Church Street, P.O. Box 10240

Grand Cayman, KY1-1002

Cayman Islands

Dear Sir or Madam

**Mobile-health Network Solutions, Company No. 313720** (the ***Company***)

We are attorneys-at-law qualified to practise in the Cayman Islands and have acted as Cayman Islands legal advisers to the Company in connection with the Registration Statement (as defined in Schedule 1), to be filed on or about the date of this opinion with the U.S. Securities and Exchange Commission (the ***Commission***) under the U.S. Securities Act of 1933, as amended (the ***Securities Act***), relating to (i) the offering, issuance and sale of an aggregate of up to US$300,000,000 of its securities, which may include Class A ordinary shares of par value of US$0.000032 each (the ***Class A Shares***), debt securities, warrants, rights or units (the ***New Securities***), and (ii) the offering, issuance and sale of the Class A Shares that may be issued and sold under the sales agreement to be entered by the Company with A.G.P. / Alliance Global Partners (together with the Class A Shares underlying the New Securities, the ***Shares***). In this opinion ***Companies Act*** means the Companies Act (2025 Revision) of the Cayman Islands.

We are furnishing this opinion as Exhibit 5.1 to the Registration Statement. The Company has informed us that the New Securities will be sold or delivered on a delayed or continuous basis from time to time as set forth in the Registration Statement (and any amendments and/or supplement thereto), the prospectus contained therein and any prospectus supplement. We understand that prior to the sale of any New Securities under the Registration Statement, the Company will afford us an opportunity to review the applicable authorisations (the ***Board Authorisations***) by the board of directors of the Company (the ***Board***) and, if necessary, amendments to the M&A (as defined in Schedule 1) and operative documents pursuant to which such New Securities are to be sold and will file any applicable amendment and/or supplement to the Registration Statement (which may include as an exhibit thereto an amended opinion) or prospectus supplement as we may reasonably consider necessary or appropriate by reason of the terms of the sale of such New Securities.

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| <br> Jersey legal services are provided through a referral arrangement with Harneys (Jersey) which is<br> an independently owned and controlled Jersey law firm.<br> Registered in Singapore with limited liability (T13LL2450G).<br> 613583200.3 | <br> Anguilla \| Bermuda \| British Virgin Islands \|<br> Cayman Islands Cyprus \| Hong Kong \| Jersey \| London \| Luxembourg<br> Montevideo \| São Paulo \| Shanghai \| Singapore<br> harneys.com |

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In each case, except as otherwise set forth in any applicable amendment and/or supplement to the Registration Statement or prospectus supplement: (i) any Class A Shares will be issued by the Company under and in accordance with the M&A, as amended from time to time; (ii) any debt securities will be issued pursuant to one or more indenture for debt security to be entered into between the Company and one or more debt security agents in a form filed as an exhibit to a prospectus supplement to the Registration Statement or incorporated by reference therein, and one or more Board Authorisations; (iii) any warrants will be issued pursuant to one or more warrant agreements to be entered into between the Company and one or more warrant agents in a form filed as an exhibit to a prospectus supplement to the Registration Statement or incorporated by reference therein, and one or more Board Authorisations; (iv) any rights will be issued pursuant to one or more rights agreements to be entered into between the Company and one or more rights agents in a form filed as an exhibit to a prospectus supplement to the Registration Statement or incorporated by reference therein, and one or more Board Authorisations; and (v) any units will be issued pursuant to one or more unit agreements to be entered into by the Company and one or more unit agents in a form filed as an exhibit to a prospectus supplement to the Registration Statement or incorporated by reference therein, and one or more Board Authorisations (together, the ***New Securities Agreements***).

For the purposes of giving this opinion, we have examined the Documents (as defined in Schedule 1). We have not examined any other documents, official or corporate records or external or internal registers and have not undertaken or been instructed to undertake any further enquiry or due diligence in relation to the transaction which is the subject of this opinion.

In giving this opinion we have relied upon the assumptions set out in Schedule 2 which we have not verified.

Based solely upon the foregoing examinations and assumptions and upon such searches as we have conducted and having regard to legal considerations which we deem relevant, and subject to the qualifications set out in Schedule 2, we are of the opinion that under the laws of the Cayman Islands:

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|:---|:---|
| 1 | **Existence and Good Standing.** The Company is an exempted company duly incorporated with limited liability and is validly existing and in good standing under the laws of the Cayman Islands, with power and authority (corporate and other) to own its properties and conduct its business as described in the Registration Statement. It is a separate legal entity and is subject to suit in its own name. |

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|:---|:---|
| 2 | **Valid Issuance of Shares.** The allotment and issuance by the Company of the Shares on the basis contemplated in the Transaction Documents have been duly authorised by the Company by the Resolutions (as defined in Schedule 1) and, subject to the satisfaction of any conditions or requirements set forth in the New Securities Agreements in relation to the Underlying Shares, will be validly and legally issued and allotted and credited as fully paid and non-assessable. |

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|:---|:---|
| 3 | **Valid Issuance of the New Securities.** When (i) the creation and issue of the applicable New Securities and the final terms of such New Securities have been duly approved and authorised by the appropriate Board Authorisations; (ii) the applicable New Securities Agreement relating to such New Securities have been duly authorised and validly executed and delivered by the Company and the relevant parties thereunder in accordance with all relevant laws; and (iii) the certificates representing such New Securities (if applicable) have been duly executed, countersigned, registered and delivered in accordance with the applicable New Securities Agreement relating to such New Securities and the applicable definitive purchase, underwriting or similar agreement approved by the Board, upon payment of the consideration by the purchasers thereof as contemplated by the Registration Statement (including any amendments and/or supplement thereto) and any prospectus supplements relating thereto, such New Securities will constitute valid and legally binding obligations of the Company, enforceable against the Company in accordance with their terms. |

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|:---|:---|
| 4 | **Authorised Share Capital.** Based on the M&A, the Company has an authorised share capital of US$50,000 divided into 1,562,500,000 ordinary shares of par value of US$0.000032 each, comprising (a) 781,250,000 Class A ordinary shares of the Company of par value US$0.000032 each, and (b) 781,250,000 Class B ordinary shares of the Company of par value US$0. 000032 each. |

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|:---|:---|
| 5 | **Disclosure.** The statements in the Registration Statement appearing under the headings "Risk Factors", "Description of Securities We May Offer", and "Enforceability of Civil Liabilities", in each case to the extent that they constitute statements of Cayman Islands law, are accurate and complete in all material respects. |

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This opinion is confined to the matters expressly opined on herein and given on the basis of the laws of the Cayman Islands as they are in force and applied by the Cayman Islands courts at the date of this opinion. We have made no investigation of, and express no opinion on, the laws of any other jurisdiction. We express no opinion as to matters of fact.

In connection with the above opinion, we hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we come within the category of persons whose consent is required under Section 7 of the Securities Act, as amended, or the Rules and Regulations of the Commission thereunder.

This opinion is limited to the matters referred to herein and shall not be construed as extending to any other matter or document not referred to herein.

This opinion shall be construed in accordance with the laws of the Cayman Islands.

Yours faithfully

**/s/ Harney Westwood & Riegels Singapore LLP**

**Schedule 1**

List of Documents Examined

1 A copy of the certificate of incorporation of the Company dated 28 July 2016.

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|:---|:---|
| 2 | A copy of the amended and restated memorandum and articles of association of the Company as adopted with effect from 28 February 2025 by a special resolution passed on 3 February 2025 (the ***M&A***). |

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|:---|:---|
| 3 | A copy of the certificate of good standing in respect of the Company, issued by the Registrar of Companies dated 14 July 2025 (the ***Certificate of Good Standing***). |

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|:---|:---|
| 4 | The Register of Writs and other Originating Process of the Grand Court of the Cayman Islands (the ***Court Register***) via the Court's Digital System (as defined in Schedule 3) from the incorporation date of the Company to 15 July 2025 (the ***Court Search Date***). |

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5 A copy of the register of directors and officers of the Company filed with the Registrar of Companies in the Cayman Islands on 16 October 2024.

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|:---|:---|
| 6 | A copy of the written resolutions of the directors of the Company dated 14 July 2025 (the ***Resolutions***). |

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|:---|:---|
| 7 | A copy of the certificate from a director of the Company dated 15 July 2025 (the ***Director's Certificate***). |

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|:---|:---|
| 8 | A copy of the registration statement on Form F-3 (including all amendments or supplements thereto, and the accompanying prospectus) (the ***Registration Statement***, which term does not include any other document or agreement whether or not specifically referred to therein or attached as an exhibit or schedule thereto). |

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|:---|:---|
| 9 | A copy of the sales agreement dated 15 July 2025 between the Company and A.G.P. / Alliance Global Partners in relation to the sale of certain Class A Shares (the ***Sales Agreement***, and together with the Registration Statement, the ***Transaction Documents***). |

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1 to 7 above are the ***Corporate Documents***. The Corporate Documents and the Transaction Documents are collectively referred to in this opinion as the ***Documents***.

**Schedule 2**

Assumptions

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| | |
|:---|:---|
| 1 | **Validity under Foreign Laws.** That (i) all formalities required under any applicable laws (other than the laws of the Cayman Islands) have been complied with; and (ii) no other matters arising under any foreign law will affect the views expressed in this opinion. |

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|:---|:---|
| 2 | **Memorandum and Articles.** The M&A remain in full force and effect and are otherwise unamended. The M&A will be the memorandum and articles of association of the Company in effect at the time of the issue of the Shares. |

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|:---|:---|
| 3 | **Choice of Laws.** The choice of the laws of New York State selected to govern the Sales Agreement has been made in good faith and will be regarded as a valid and binding selection which will be upheld in the courts of that jurisdiction and all other relevant jurisdictions (other than the Cayman Islands) and the entry into and performance of the Sales Agreement will not cause any of the parties thereto to be in breach of any agreement or undertaking. |

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|:---|:---|
| 4 | **Directors.** The board of directors of the Company considers the transactions contemplated by the Transaction Documents to be in the best interests of the Company and no director has a financial interest in or other relationship to a party to the transactions contemplated by the Transaction Documents which has not been properly disclosed in the Resolutions. |

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|:---|:---|
| 5 | **Conditions.** All conditions to the obligations of the parties to the Sales Agreement will be satisfied or duly waived prior to the issue and sale of the relevant Shares and there will be no breach of the terms of the Sales Agreement. |

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| 6 | **Authenticity of Documents.** All original Documents are authentic, all signatures, initials and seals are genuine, all copies of Documents are true and correct copies and the Transaction Documents conform in every material respect to the latest drafts of the same produced to us and, where the Transaction Documents have been provided to us in successive drafts marked-up to indicate changes to such documents, all such changes have been so indicated. |

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|:---|:---|
| 7 | **Corporate Documents.** All matters required by law to be recorded in the Corporate Documents are so recorded, and all corporate minutes, resolutions, certificates, documents and records which we have reviewed are accurate and complete, and all facts expressed in or implied thereby are accurate and complete. |

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|:---|:---|
| 8 | **Director's Certificate**. The contents of the Director's Certificate are true and accurate as at the date of this opinion and there is no information not contained in the Director's Certificate that will in any way affect this opinion. |

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|:---|:---|
| 9 | **Court Search.** The Register of Writs and other Originating Process of the Grand Court of the Cayman Islands examined by us for the period from the date of incorporation of the Company to the Court Search Date via the Court's Digital System on the Court Search Date, constitutes a complete record of the proceedings for such period before the Grand Court of the Cayman Islands. |

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| 10 | **No Steps to Wind-up**. The directors and shareholders of the Company have not taken any steps to have the Company struck off or placed in liquidation, no steps have been taken to wind up the Company and no receiver has been appointed over any of the property or assets of the Company. |

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| 11 | **Resolutions**. The written Resolutions have been duly executed (and where by a corporate entity such execution has been duly authorised if so required) by or on behalf of each director or shareholder (as the case may be), and the signatures and initials thereon are those of a person or persons in whose name the Resolutions have been expressed to be signed. The Resolutions passed at a meeting were adopted at duly convened meetings of the board of directors and/or the shareholders of the Company, and such meetings were held and conducted in accordance with the Memorandum and Articles of Association of the Company. The Resolutions remain in full force and effect. |

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|:---|:---|
| 12 | **Unseen Documents.** Save for the Documents provided to us there are no resolutions, agreements, documents or arrangements which materially affect, amend or vary the transactions envisaged in the Transaction Documents. There is no contractual prohibition (other than as arising under Cayman Islands law) binding on the Company prohibiting it from issuing and allotting the Shares. |

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| 13 | **Proceeds of Crime.** No monies paid to or for the account of any party under the Transaction Documents represent or will represent criminal property or terrorist property (as defined in the Proceeds of Crime Act (2025 Revision) and the Terrorism Act (2018 Revision), respectively. |

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| 14 | **Exercise.** At the time of the exercise of the relevant New Securities Agreements in accordance with the M&A (the ***Exercise***): |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Companies Act will not have changed in such a way as to materially impact the Exercise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Company will have sufficient authorised but unallotted and unissued Underlying Shares, in
 each case to effect the Exercise in accordance with the M&A and the Companies Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 Company will be able to pay its debts as they fall due in the ordinary course of business
 immediately following the Exercise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 Company will have shares in issue immediately prior to the Exercise other than the Underlying
 Shares to be issued;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) all
 the considerations will have been fully paid and without obligation of the holder to make
 further payment to the Company in respect of the issuance of the Underlying Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the
 Company will not have been struck off or placed in liquidation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the
 issue price for the Underlying Shares to be issued on the Exercise will not be less than
 the par value of such Underlying Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the
 provisions of the M&A relating to the Exercise will not have been altered, amended and
 restated.

**Schedule 3**

Qualifications

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| 1 | **Enforceability**. The term ***enforceable*** as used above means that the obligations assumed by the Company under the relevant instrument are of a type which the courts of the Cayman Islands enforce. It does not mean that those obligations will necessarily be enforced in all circumstances in accordance with their terms. In particular: |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **Insolvency.** Rights and obligations may be limited by bankruptcy, insolvency, liquidation, winding-up,
 reorganisation, moratorium, readjustment of debts, arrangements and other similar laws of
 general application affecting the rights of creditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **Limitation Periods.** Claims under the New Securities Agreements may become barred under the Limitation
 Act (1996 Revision) relating to the limitation of actions in the Cayman Islands or may be
 or become subject to defences of set-off, estoppel or counterclaim;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **Equitable Rights and Remedies**. Equitable rights may be defeated by a *bona fide* purchaser
 for value without notice. Equitable remedies such as injunctions and orders for specific
 performance are discretionary and will not normally be available where damages are considered
 an adequate remedy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **Fair Dealing.** Strict legal rights may be qualified by doctrines of good faith and fair dealing
 - for example a certificate or calculation as to any matter might be held by a Cayman Islands
 court not to be conclusive if it could be shown to have an unreasonable or arbitrary basis,
 or in the event of manifest error;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **Prevention of Enforcement.** Enforcement may be prevented by reason of fraud, coercion, duress, undue
 influence, unreasonable restraint of trade, misrepresentation, public policy or mistake or
 limited by the doctrine of frustration of contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **Penal Provisions**. Provisions, for example, for the payment of additional interest in certain
 circumstances, may be unenforceable to the extent a court of the Cayman Islands determines
 such provisions to be penal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) **Currency.** A Cayman Islands court retains a discretion to denominate any judgment in Cayman Islands
 dollars;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) **Confidentiality**.
 Provisions imposing confidentiality obligations may be overridden by the requirements of
 legal process;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) **Award of Costs**. In principle the courts of the Cayman Islands will award costs and disbursements
 in litigation in accordance with the relevant contractual provisions but there remains some
 uncertainty as to the way in which the rules of the Grand Court will be applied in practice.
 Whilst it is clear that costs incurred prior to judgment can be recovered in accordance with
 the relevant contract, it is likely that post-judgment costs (to the extent recoverable at
 all) will be subject to taxation in accordance with Grand Court Rules Order 62; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) **Inappropriate Forum.** The courts of the Cayman Islands may decline to exercise jurisdiction in relation
 to substantive proceedings brought under or in relation to the New Securities Agreements
 in matters where they determine that (i) such proceedings may be tried in a more appropriate
 forum; (ii) proceedings are already underway in a different forum; or (iii) the issues have
 already been finally determined by another forum.

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|:---|:---|
| 2 | **Foreign Statutes.** We express no opinion in relation to provisions making reference to foreign statutes in the Transaction Documents. |

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|:---|:---|
| 3 | **Stamp Duty.** Cayman Islands stamp duty may be payable if the original Sales Agreement is executed in, brought to, or produced before a court of, the Cayman Islands. |

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|:---|:---|
| 4 | **Commercial Terms.** Except as specifically stated herein, we make no comment with respect to any representations and warranties which may be made by or with respect to the Company in any of the documents or instruments cited in this opinion or otherwise with respect to the commercial terms of the transactions the subject of this opinion. |

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|:---|:---|
| 5 | **Meaning of Non-Assessable.** In this opinion the phrase non-assessable means, with respect to the issuance of shares, that a shareholder shall not, in respect of the relevant shares, have any obligation to make further contributions to the assets of the relevant company (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil). |

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|:---|:---|
| 6 | **Amendment.** A Cayman Islands court would not treat as definitive a statement in a contract that it could only be amended or waived in writing, but would be able to consider all the facts of the case (particularly where consideration had passed) to determine whether a verbal amendment or waiver had been effected and, if it found that it had, such verbal amendment or waiver would be deemed to have also amended the stated requirement for a written agreement. |

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| 7 | **Good Standing.** The Company shall be deemed to be in good standing at any time if all fees (including annual filing fees) and penalties under the Companies Act have been paid and the Registrar of Companies has no knowledge that the Company is in default under the Companies Act. |

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|:---|:---|
| 8 | **Court Search**. The search of the Register of Writs and other Originating Process of the Grand Court of the Cayman Islands has been undertaken on a digital system made available through the Grand Court of the Cayman Islands (the ***Court's Digital System***), and through inadvertent errors or delays in updating the digital system (and/or the Register from which the digital information is drawn) may not constitute a complete record of all proceedings as at the Court Search Date and in particular may omit details of very recent filings. The Court Search of the Court Register would not reveal, amongst other things, any writ, originating summons, originating motion, petition (including any winding-up petition), counterclaim or third party notice (***Originating Process***) filed with the Grand Court of the Cayman Islands which, pursuant to the rules of the Grand Court of the Cayman Islands or best practice of the Clerk of the Courts' office, should have been entered in the Court Register but was not in fact entered in the Court Register (properly or at all), or any Originating Process which has been placed under seal or anonymised (whether by order of the Court or pursuant to the practice of the Clerk of the Courts' office). |

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|:---|:---|
| 9 | **Conflict of Laws.** An expression of an opinion on a matter of Cayman Islands law in relation to a particular issue in this opinion should not necessarily be construed to imply that the Cayman Islands courts would treat Cayman Islands law as the proper law to determine that issue under its conflict of laws rules. |

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|:---|:---|
| 10 | **Sanctions**. The obligations of the Company may be subject to restrictions pursuant to United Nations and United Kingdom sanctions as implemented under the laws of the Cayman Islands. |

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|:---|:---|
| 11 | **Economic Substance**. We have undertaken no enquiry and express no view as to the compliance of the Company with the International Tax Co-operation (Economic Substance) Act (2024 Revision). |

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## Exhibit 23.1

**Exhibit 23.1**

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|:---|:---|
| ![](ex23-1_001.jpg) | **JWF Assurance PAC**<br> **(UEN No: 202326944Z)**<br> Tel: +65 6539 9729<br> **60 Paya Lebar Road, #10-16 Paya**<br> **Lebar Square Singapore 409051** |

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**<u>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</u>**

We consent to the incorporation by reference in this Registration Statement on Form F-3 of our report dated October 23, 2024 relating to the consolidated financial statements appearing in the Annual Report on Form 20-F of Mobile-health Network Solutions and Its Subsidiaries for the year ended June 30, 2024. We also consent to the reference to us under the heading "Experts" in such Registration Statement.

/s/ JWF Assurance PAC

JWF Assurance PAC

Singapore

July 16, 2025

Page 1 of 1

## Exhibit 23.2

**Exhibit 23.2**

![](ex23-2_001.jpg)

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Mobile-Health Network Solutions

We hereby consent to the incorporation by reference of our report in this Form F-3 of Mobile-Health Network Solutions (the "Company"), to be filed on or about July 16, 2025, of our report dated October 27, 2023 and March 6, 2024, with respect to our audit of the Company's consolidated financial statements as of June 30, 2023, and 2022 and for the years then ended.

![](ex23-2_002.jpg)

Los Angeles, California

July 16, 2025

## Ex-Filing

?xml version='1.0' encoding='ASCII'?

**Exhibit 107**

**Calculation of Filing Fee Table**

**Form F-3**

(Form Type)

**Mobile-health Network Solutions**

(Exact Name of Registrant as Specified in its Charter)

Table 1: Newly Registered Securities

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Security Type | Security<br> Class<br> Title | Fee<br> Calculation <br> Rule | Amount<br> Registered <br> (1)(2) | Proposed<br> Maximum<br> Aggregate<br> Offering<br> Price Per<br> Unit (1)(2) | Maximum<br> Aggregate<br> Offering Price |  | Fee Rate | Amount of Registration<br> Fee (3) |
| Equity | Class A Ordinary Shares, $0.000032 par value per share | 457 (o) |  |  | 0— |  |  |  |
| Debt | Debt securities | 457 (o) |  |  | 0— |  |  |  |
| Other | Warrants | 457 (o) |  |  | 0— |  |  |  |
| Other | Units | 457 (o) |  |  | 0— |  |  |  |
| Unallocated (Universal) Shelf |  | 457 (o) |  |  | $300000000 | (3) | 0.00015310 | $45930 |
| Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | $300000000 |  | 0.00015310 | $45930 |
| Total Fees Previously Paid | Total Fees Previously Paid | Total Fees Previously Paid | Total Fees Previously Paid | Total Fees Previously Paid |  |  |  |  |
| Total Fee Offsets | Total Fee Offsets | Total Fee Offsets | Total Fee Offsets | Total Fee Offsets |  |  |  |  |
| Net Fee Due | Net Fee Due | Net Fee Due | Net Fee Due | Net Fee Due |  |  |  | $45930 |

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(1) The proposed amount of the securities offered to be offered and registered by the registrant, maximum offering price per class of security to be offered by the registrant and maximum aggregate offering price per class of security to be offered by the registrant will be determined from time to time by the registrant in connection with the issuance by the registrant of the securities registered hereunder.

(2) This registration statement covers such indeterminate amount of Class A Ordinary Shares, debt securities and warrants of Mobile-health Network Solutions, as having an aggregate offering price not to exceed $300,000,000, to be offered by the registrant. The securities registered hereunder are to be issued from time to time at prices to be determined. The securities registered also include such indeterminate number of Class A Ordinary Shares and amount of debt securities as may be issued upon conversion of or exchange for debt securities that provide for conversion or exchange, upon exercise of warrants or pursuant to the anti-dilution provisions of any such securities. In addition, pursuant to Rule 416 under the Securities Act of 1933, as amended (the "Securities Act"), the shares being registered hereunder include such indeterminate number of Class A Ordinary Shares as may be issuable with respect to the shares being registered hereunder as a result of stock splits, stock dividends or similar transactions.

(3) Estimated solely for the purpose of calculating the registration fee. Subject to Rule 462(b) under the Securities Act, the aggregate maximum offering price of all securities to be offered and issued by the registrant pursuant to this registration statement will not exceed $300,000,000.