# EDGAR Filing Document

**Accession Number:** 0001880431
**File Stem:** 0001575872-23-000184
**Filing Date:** 2023-1
**Character Count:** 1626115
**Document Hash:** 4bcfd783c2ad5e1a1adb5302dfbbc845
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001575872-23-000184.hdr.sgml**: 20240314

**ACCESSION NUMBER**: 0001575872-23-000184

**CONFORMED SUBMISSION TYPE**: S-1

**PUBLIC DOCUMENT COUNT**: 53

**FILED AS OF DATE**: 20230131

**DATE AS OF CHANGE**: 20240214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Vocodia Holdings Corp
- **CENTRAL INDEX KEY:** 0001880431
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
- **ORGANIZATION NAME:** 06 Technology
- **IRS NUMBER:** 863519415
- **STATE OF INCORPORATION:** WY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-1
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-269489
- **FILM NUMBER:** 23574021

**BUSINESS ADDRESS:**
- **STREET 1:** 6401 CONGRESS AVENUE, SUITE 160
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33487
- **BUSINESS PHONE:** (561) 484-5234

**MAIL ADDRESS:**
- **STREET 1:** 6401 CONGRESS AVENUE, SUITE 160
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33487

**As filed with the Securities and Exchange Commission on January 31, 2023.**

**Registration No. 333-** 

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM S-1**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

**VOCODIA HOLDINGS CORP**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Wyoming** | **7371** | **86-3519415** |
| (State or Other jurisdiction of<br> incorporation or organization) | (Primary Standard Industrial<br> Classification Code Number) | (I.R.S. Employer<br> Identification Number) |

---

**6401 Congress Ave, Suite #160** 

**Boca Raton, FL 33487** 

**(561) 484-5234**

(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

**Brian Podolak**

**Chief Executive Officer** 

**6401 Congress Ave, Suite #160** 

**Boca Raton, FL 33487** 

**(561) 484-5234**

(Name, address, including zip code, and telephone number, including area code, of agent for service)

**Copies to:** 

---

| | |
|:---|:---|
| **Ross Carmel, Esq.**<br> **Anthony Patel, Esq.** <br> **Carmel, Milazzo & Feil LLP.**<br> **55 West 39th Street, 18th Floor**<br> **New York, NY, 10018**<br> **(212) 658-0458** | **David E. Danovitch, Esq.**<br> **Michael DeDonato, Esq.**<br> **Sullivan & Worcester LLP**<br> **1633 Broadway**<br> **New York, NY 10019**<br> **(212) 660-3060** |

---

**Approximate date of commencement of proposed sale to the public:** As soon as practicable after this Registration Statement becomes effective.

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, 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 post-effective amendment filed pursuant to Rule 462(d) 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. ◻

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ◻ Accelerated filer ◻ <br> Non-accelerated filer ⌧ Smaller reporting company ⌧ <br> Emerging growth company ⌧

If an emerging growth company, 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 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 the registration statement shall become effective on such date as the Commission acting pursuant to said section 8(a), may determine.**

**The information in this preliminary prospectus is not complete and may be changed. The shares of common stock 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 the shares of common stock and it is not soliciting an offer to buy the shares of common stock in any state or jurisdiction where the offer or sale is not permitted.**

**SUBJECT TO COMPLETION, DATED JANUARY 31, 2023.**

**PRELIMINARY PROSPECTUS**

![](cm250_img01.jpg)

**VOCODIA HOLDINGS CORP**

**2,142,858**

**Shares of Common Stock**

This is an initial public offering of Vocodia Holdings Corp, a Wyoming corporation (the "Company") on a firm commitment basis. This offering consists of 2,142,858 shares of our common stock, par value $0.0001 per share ("common stock"). The assumed initial public offering price is $8.00 per share, the midpoint of the estimated range between $7.00 and $9.00 per share. The actual initial public offering price of the shares of common stock offered hereby will be determined between the underwriters and us at the time of pricing, considering our historical performance and capital structure, prevailing market conditions, and overall assessment of our business. Therefore, the assumed initial public offering price per share of common stock used throughout this prospectus may not be indicative of the actual initial public offering price for the shares of common stock (see "*Underwriting — Determination of Offering Price*" for additional information).

We have granted Alexander Capital, L.P. (the "Representative"), the representative of the underwriters of this offering, a 45-day option to purchase up to an additional 321,429 shares of common stock to cover over-allotments, if any.

Prior to this offering, there has been no public market for our common stock. We have applied to have our common stock listed on the Nasdaq Capital Market ("Nasdaq") under the symbol "VOCO" and if our listing application is not approved, we will not be able to consummate this offering and will terminate this offering. There can be no assurance that we will be successful in listing our common stock on Nasdaq.

As of the date of this prospectus, our Chief Executive Officer, Mr. Brian Podolak, is entitled to vote 49.99% of the total shares outstanding. This percentage accounts for all of Mr. Podolak's common and preferred shares. Additionally, Mr. James Sposato also controls 49.99% of the total shares outstanding. This percentage accounts for all of Mr. Sposato's common and preferred shares, as well. Although we are a "controlled company" under the rules of the Nasdaq, our board of directors will be composed of a majority of independent directors, and we will not take advantage of the "controlled company" exemptions provided under such rules. Please see "*Risk Factors*" and "*Management—Our Controlled Company Status.*

We intend to use the proceeds from this offering for acquisitions of websites, technologies, or other assets, building improved phone switch capabilities for our product, expanding our product offerings from other digital channels, sales and marketing, working capital and other general corporate purposes. Our phone switch capacity allows us to scale more calls simultaneously, which translates into our services being more readily available to handle the increased demands of current and future customers. See "*Use of Proceeds*."

We are an "emerging growth company" and a "smaller reporting company" as defined in the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act") and have elected to comply with certain reduced public company reporting requirements. See "*Summary—Implications of Being an Emerging Growth Company and Smaller Reporting Company*."

**Investing in our shares of common stock is highly speculative and involves a high degree of risk. You should carefully consider the risks and uncertainties described under the heading "*Risk Factors*" beginning on page 11 of this prospectus before making a decision to purchase our shares of common stock.**

**NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SHARES OF COMMON STOCK OR PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.** 

---

| | | |
|:---|:---|:---|
|  | **Per Share** | **Total <sup>(1)</sup>** |
| Initial public offering price<sup>(1)</sup> | $| $|
| Underwriting discounts and commissions<sup>(2)</sup> | $| $|
| Non-accountable expense allowance | $| $|
| Proceeds to the Company before expenses<sup>(3)</sup> | $| $|

---

(1) Assumes
 no exercise of the over-allotment option we have granted to the underwriters, as described
 below.

(2) Represents
 an underwriting discount equal to 7.0% of the gross offering proceeds; provided that such
 underwriting discount will be equal to 4.0% of the gross proceeds received by the Company
 in this offering from investors identified and introduced to by the Company, which number
 is not reflected in the table above. For a description of the other compensation to be received
 by the underwriters, please see "*Underwriting*" beginning on page 96.

(3) Represents
 a non-accountable expense allowance equal to 1.0% of the gross proceeds of this offering,
 payable to the representative of the underwriters.

(4) We estimate that the total fees, commissions, expenses and other costs
of this offering will be approximately $1,500,000. These expenses do not include the issuance to the representative of warrants
exercisable for up to shares of common stock, equal to 3.0% of the number of shares of common stock sold in this offering, at a
per share exercise price equal to 120% of the initial public offering price of the shares of common stock offered hereby, including shares
sold to cover over-allotments, if any, or the reimbursement of certain expenses of the underwriters. See "*Underwriting* "
beginning on page 69 of this prospectus for additional information regarding compensation to be paid by the Company to the underwriters
in connection with this offering.

We have granted the representative of the underwriters an option to purchase from us, at the initial public offering price, up to 321,429 additional shares of common stock, less the underwriting discounts and commissions, within 45 days from the date of this prospectus to cover over-allotments, if any. If the representative exercises the option in full, the total underwriting discounts and commissions payable will be $1,207,500, and the total proceeds to us, before expenses, will be $16,042,500.

For a description of the other compensation to be received by the underwriters, please see "*Underwriting*" beginning on page 69.

The underwriters expect to deliver the shares of common stock to purchasers in the offering on or about **, 2023.**

**The date of this prospectus is , 2023.**

 *Sole Book-Running Manager*

**ALEXANDER CAPITAL, L.P.**

**ABOUT THIS PROSPECTUS**

In this prospectus, unless the context suggests otherwise, references to "Company," "Vocodia," "we," "us," and "our" collectively refer to Vocodia Holdings Corp, a Wyoming corporation, and its subsidiaries.

The registration statement of which this prospectus forms a part that we have filed with the U.S. Securities and Exchange Commission (the "SEC") includes exhibits that provide more detail of the matters discussed in this prospectus. You should read this prospectus and the related exhibits filed with the SEC, together with the additional information described under the heading "*Where You Can Find More Information*," before making your investment decision.

You should rely only on the information provided in this prospectus or in any prospectus supplement or any free writing prospectuses or amendments thereto, or to which we have referred you, before making your investment decision. Neither we nor the underwriters have authorized anyone to provide you with information different from, or in addition to, that contained in this prospectus or any related free writing prospectus. If anyone provides you with different or inconsistent information, you should not rely on it. This prospectus, any prospectus supplement, or any free writing prospectuses or amendments thereto do not constitute an offer to sell, or a solicitation of an offer to purchase, the shares of common stock offered by this prospectus, any prospectus supplement or any free writing prospectuses or amendments thereto in any jurisdiction to or from any person to whom or from whom it is unlawful to make such offer or solicitation of an offer in such jurisdiction. You should not assume that the information contained in this prospectus, any prospectus supplement or any free writing prospectuses or amendments thereto, as well as information we have previously filed with the SEC, is accurate as of any date other than the date on the front cover of the applicable document.

To the extent there is a conflict between the information contained in this prospectus and any prospectus supplement, you should rely on the information in such prospectus supplement, provided that 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 in this prospectus or any prospectus supplement — the statement in the document having the later date modifies or supersedes the earlier statement.

Neither the delivery of this prospectus nor any distribution of any of the shares of common stock pursuant to this prospectus shall, under any circumstances, create any implication that there has been no change in the information set forth or incorporated by reference into this prospectus or in our affairs since the date of this prospectus. Our business, financial condition, results of operations and prospects may have changed since such date.

Neither we nor the underwriters are offering to sell or seeking offers to purchase such shares of common stock offered hereby in any jurisdiction where the offer or sale is not permitted. Neither we, nor the underwriters, have done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. 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 such shares of common stock as to distribution of the prospectus outside of the United States.

For investors outside the United States: neither we nor any of the underwriters have done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than the United States. You are required to inform yourselves about and to observe any restrictions relating to this offering and the distribution of this prospectus.

Neither our Company, any of its officers, directors, agents or representatives, nor the underwriters, make any representation to you about the legality of an investment in our Company's shares of common stock. You should not interpret the contents of this prospectus to be legal, business, investment or tax advice. You should consult with your own advisors for that type of advice and consult with them about the legal, tax, business, financial and other issues that you should consider before investing in our Company's shares of common stock.

**TRADEMARKS AND TRADE NAMES**

This prospectus includes trademarks that are protected under applicable intellectual property laws and the Company's property. This prospectus also contains trademarks, service marks, trade names and/or copyrights of other companies, which are the property of its owners. Solely for convenience, trademarks and trade names referred to in this prospectus may appear without the <sup>®</sup> or™ symbols, but such references are not intended to indicate, in any way, that the Company will not assert, to the fullest extent under applicable law, its rights or the right of the applicable licensor to these trademarks and trade names.

**INDUSTRY AND MARKET DATA**

Unless otherwise indicated, information contained in this prospectus concerning the Company's industry and the markets in which it operates, including market position and market opportunity, is based on information from management's estimates, as well as from industry publications and research, surveys and studies conducted by third parties. Management estimates are derived from publicly available information, its knowledge of the industry, and assumptions based on such information and knowledge, which management believes to be reasonable and appropriate. However, assumptions and estimates of the Company's future performance, and the future performance of its industry, are subject to numerous known and unknown risks and uncertainties, including those described under the heading "*Risk Factors*" in this prospectus and those described elsewhere in this prospectus, and the other documents the Company files with the SEC from time to time. These and other important factors could result in its estimates and assumptions being materially different from future results. You should read the information contained in this prospectus completely and with the understanding that future results may be materially different and worse from what the Company expects. See the information included under the heading "*Cautionary Statement Regarding Forward-Looking Information*."

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **Page No.** |
| [PROSPECTUS SUMMARY](#a_001) | [1](#a_001) |
| [SUMMARY FINANCIAL INFORMATION](#a_002) | [14](#a_002) |
| [RISK FACTORS](#a_003) | [17](#a_003) |
| [CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS](#a_004) | [41](#a_004) |
| [USE OF PROCEEDS](#a_005) | [42](#a_005) |
| [DIVIDEND POLICY](#a_006) | [43](#a_006) |
| [CAPITALIZATION](#a_007) | [44](#a_007) |
| [DILUTION](#a_008) | [45](#a_008) |
| [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#a_009) | [47](#a_009) |
| [BUSINESS](#a_010) | [65](#a_010) |
| [MANAGEMENT](#a_011) | [76](#a_011) |
| [EXECUTIVE COMPENSATION](#a_012) | [83](#a_012) |
| [SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT](#a_013) | [85](#a_013) |
| [CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS](#a_014) | [86](#a_014) |
| [DESCRIPTION OF SECURITIES](#a_015) | [88](#a_015) |
| [MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS OF THE COMPANY'S COMMON STOCK](#a_016) | [90](#a_016) |
| [SHARES ELIGIBLE FOR FUTURE SALE](#a_017) | [94](#a_017) |
| [UNDERWRITING](#a_018) | [96](#a_018) |
| [LEGAL MATTERS](#a_019) | [101](#a_019) |
| [EXPERTS](#a_020) | [101](#a_020) |
| [WHERE YOU CAN FIND MORE INFORMATION](#a_021) | [101](#a_021) |
| [INDEX TO COMBINED FINANCIAL STATEMENTS](#a_022) | [F-1](#a_022) |

---

**PROSPECTUS SUMMARY**

 

*The following summary highlights information contained elsewhere in this prospectus. This summary may not contain all of the information that may be important to you. You should read this entire prospectus carefully, including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our Company's historical financial statements and related notes included elsewhere in this prospectus. In this prospectus, unless otherwise noted, the terms "Company," "Vocodia" "we," "us," and "our" refer to Vocodia Holdings Corp.*

**OVERVIEW**

***Company Overview***

Vocodia Holdings Corp ("Vocodia" or "VHC") was incorporated in the State of Wyoming on April 27, 2021 and is a conversational artificial intelligence ("AI") technology provider. Vocodia's technology is designed to drive better sales and services for its customers. Clients turn to Vocodia for their product and service needs.

***Business Summary***

Vocodia is an AI software company that builds practical AI functions and makes them easily obtainable for businesses on cloud-based platform solutions at low costs and scalable to multiagent vast enterprise solutions.

The Company's operations includes three wholly owned subsidiaries: (1) Vocodia FL, LLC ("Vocodia FL"), which was incorporated in the State of Florida on June 2, 2021 and manages all of VHC's human resources and payroll functions, (2) Vocodia JV, LLC ("Vocodia JV"), which was incorporated in the State of Delaware on October 7, 2021 and was formed with the intention to conduct any and all joint ventures or acquisitions for VHC, which do not exist as of the date of this prospectus, and (3) Click Fish Media, Inc. ("CFM"), which was incorporated in the State of Florida on November 26, 2019 and is an IT services provider. CFM was formerly owned by James Sposato, who is an officer and director of the Company. CFM was acquired by the Company from Mr. Sposato per the Contribution Agreement, dated August 1, 2022 (the "Contribution Agreement"). In the Contribution Agreement, Mr. Sposato ("Contributor"), has contributed, assigned, transferred and delivered to Vocodia, the outstanding capital stock of CFM and Vocodia has accepted the contributed shares from the Contributor. As full consideration for the Contribution, Vocodia has paid the Contributor consideration in the amount of $10.

An illustration of the Company's organizational structure is provided below:

![](cm250_img02.jpg)

Vocodia offers companies scalable enterprise AI sales and customer service solutions intended to rapidly increase sales and service at approximately 25% of employment costs.

Vocodia seeks to enhance rapport and relationship building for customers, which is as necessary component to sales. Vocodia believes that there is a positive correlation between AI which sounds similar to a human voice over the phone and better customer rapport and customer service benefits. With our advanced AI, we believe that it will be difficult for customers to distinguish between speaking to a human sales representative and to an AI bot. Vocodia believes it can increase customer satisfaction and maximize potential service efficiency for its clients. Our goal is to provide quick training and deployment, potentially unlimited scalability, easy integration with existing corporate platforms and other benefits to our customers from AI's efficiency. The Company projects that it will help its customers manage budgets and perform better than the high costs of existing sales and service personnel (whom we believe typically perform below the 90<sup>th</sup> percentile of their peers).

***Our Mission***

Vocodia is a conversational AI software developer and provider. Our mission is to maximize value in communications between organizations and their consumer bases from "hello" to "goodbye". Our goal is to be the conversational leader in corporate and organizational, agenda driven communications, to drive convenience, scale, and empowerment, while reducing operational costs and risk.

Vocodia offers companies scalable enterprise-level AI sales and customer service solutions which allow for AI sales representatives to reduce human labor costs and responsibilities while increasing the reach and efficacy of human-led, purposeful, agenda driven and conversational communications. We deliver our patented conversational AI software in the form of Digital Intelligent Sales Agents, which we refer to as DISAs® (the "DISAs"). The DISAs are built with AI software programmed for the DISAs to sound and feel human and to perform business tasks that require humans to converse with one another effectively, and thus to provide the best representation for each of our customers' businesses.

Vocodia's DISAs have been programmed to provide the marketplace with an alternative to human sales representatives in the function of (1) sales; (2) customer service; (3) supportive agency; (4) intermediary communications; and (5) alerts with automated transfers and queuing. The DISAs are tailored to serve the specific requirements of each of our customers and are delivered via our proprietary platform.

We view our DISAs as the total solution for those in need of sales and customer service automation, which provides the marketplace alternative to a role that has primarily been serviced by humans in the sales and customer service departments, in part or in whole, to increase our clients' revenues and lower costs, providing them with the ability to produce campaigns fast and scale them up or down as necessary.

Our AI software is intended to provide a solution for operational costs and efficiency deficits by improving business automation and reducing the inefficiencies caused by human limitations. Our motto is to "Go Beyond Human", with AI alternative of human salespeople and customer service representatives. We aim to lower costs associated with sales campaigns that rely on humans and provide scalability of agent quantity, style, mission, and other personalization at varying levels for each organization's needs.

***Market Opportunity***

*AI Reduces Labor Spending*

 

Growth for most businesses means increasing sales and services. However, growth is often limited by available resources, such as customers and employees. Planning, recruiting, training and retaining employees to focus on growth (sales), and retaining such employees (attrition), is typically expensive and costs can be prohibitive. Further, labor costs account for up to 70% of total business costs and include, without limitation, employee wages, benefits, payroll or other related taxes. There may be no relief for businesses faced with the necessary employment costs of sales agents and customer service personnel.

*Key Highlights*

&nbsp;&nbsp;&nbsp;&nbsp;· **Voice Quality**: Vocodia provides AI with high-level voice quality and seeks to deliver superior
 service in the marketplace.

&nbsp;&nbsp;&nbsp;&nbsp;· **Quality Sales**: Vocodia uses the following sales and marketing strategy: Prospects – Qualifies
 – Closes – Processes Orders – Upsells. Our DISAs are able to generate more
 leads and more transfers to clients so they can sell or upsell their new leads and transfers
 on their products. We believe that our customers can become more efficient by hiring DISA
 "fronters", rather than traditional "fronters". These traditional
 human "fronters" have served as the driving force in call centers making 150
 or so calls daily to qualify potential clients. Once qualified, they then transfer the call
 to another department of the call center which handles the final transactional element of
 the sales call. The fronter position is the high turnover, low pay, very hard to hire, part
 for call centers that are the costliest and least productive. We automate this part of the
 process using AI to make these calls, instead of the human fronters. In addition, AI only
 has to be trained once, does not take vacation, can call 24/7, and costs 1/3 of
 human fronters. Thereby, companies can receive the same level of sales expected from their
 top 85% of employees. Vocodia delivers effective, dependable, scalable to the hour, low variance
 sales and customer service solutions.

&nbsp;&nbsp;&nbsp;&nbsp;· **Affordable**:
 AI sales agents (also known as AI bots) cost less than one-third of human sales agents without
 human issues that tend to affect the processes, human resources and bottom line.

&nbsp;&nbsp;&nbsp;&nbsp;· **Scalable**:
 Our software is cloud-based and Application Programming Interface ("API")-friendly,
 which is interoperable with third-party platforms. Vocodia offers companies scalable enterprise-level
 AI sales and customer service solutions which reduce human labor costs and responsibilities
 while increasing the reach and efficacy of human led, purposeful, agenda driven and conversational
 communications.

&nbsp;&nbsp;&nbsp;&nbsp;· **Compliance**:
 DISAs parameters are set by our clients' needs and uploaded data. These inputs can
 include, but are not limited to, recordings, scripts and rebuttals supplied by a respective
 client. Vocodia uses our clients' data and trains their respective DISAs to converse
 with prospective customers, qualify them, and then transfer the call to a "closer"
 to sell to the customer. The AI/DISA can only say what they are trained and programmed to
 say. We believe this will lead to higher level of compliance, avoiding impromptu human errors
 which will not occur for our DISAs.

&nbsp;&nbsp;&nbsp;&nbsp;· **Speedy Training**: The AI can be trained in 3 days with: recordings of existing sales calls; and
 sales script for baseline and target goals. AI bots also continue to learn on the job from
 call interactions, thus machine learning progressively improves over time.

 

*Vocodia's Advantages*

Vocodia has created software that is intended to replicate the functions of human sales representatives, such as calling prospects by telephone, announcing the purpose of a call and reason for the call, and identifying interest in a conversational manner. The AI/platform can be programmed for each client to provide scalable solutions which can reduce sales inefficiencies and improve customer service results. We commoditize and standardize our AI solution to improve traditional sales and customer service support operations in order to meet our clients' sales and service goals.

Our proprietary software allows us to adjust our approach to the market, to either offer sales or customer service as a call center at competitive rates. On an hour-to-hour basis we can replace human sales and customer service agents in a cost-effective manner.

Market rates for sales and customer service agents can range from greater than $5.00 dollars per hour to less than $55.00 dollars per hour. Our platform allows us to control the cost to market rates of sales and customer service agents because machine accuracy and programming allow for significant reduction of costs across standard corporate departments such as human resources, legal, management, customer relations management software, compliance, commissions, real estate, equipment, supporting software, telecommunications and more.

We offer our platform to individual sales agents, customer service agents and small businesses, providing enterprise-level agent services for market tiers of all sizes and scope. Our software allows small, single-owner businesses the equivalent sales and service platform used by enterprise-level clients. We believe that the platform can equalize the opportunities available for smaller businesses and larger organizations.

*Additional Opportunities*

 

We plan on pursuing opportunities beyond our present goals of delivering sales and customer service software agents. We believe there may be other uses of our conversational AI software and platform, such as in the areas of education, including the areas of philosophy and religion. In the long run, we envision a world in which businesses and consumers have conversational Ais, such as our DISAs, performing the tasks of humans, while maximizing efficiencies in many fields and improving timing, quality, budget, and convenience, using automated tools. In short, Vocodia aims to make the world a better place by using our proprietary AI to improve current processes.

 ****

 ****

***Company Strategy***

*Technology* 

 

Vocodia, believes that it, has built, and continues to build, AI conversational systems that sound virtually the same as humans. Proprietary software and systems have been developed in-house from scratch with streamlined integration and a growing number of customer relationship managements ("CRMs") and platforms all over the world. Vocodia software utilizes Artificial Intelligence, Augmented Intelligence, Natural Language Processing and Machine Learning to provide a robust, continuously learning engine which can perform multiagent functions simultaneously. Vocodia software is cloud-based, permitting easy API integration with most systems and platforms commonly used by businesses today.

*Products*

 

Vocodia has developed and released its first software product and platform, which we refer to as "DISA", a humanized conversational AI technology, that can complete each stage of the conversational aspect of the sales process, business-to-business ("B2B") and business-to-consumer ("B2C").

Our prospects for direct software sales are any enterprise clients who are in the phone and call center markets. The initial sales targets were call centers who needed to replace poor performing staff in the pre-Covid-19 era. Now, our sales targets have shifted to filling empty seats in the call centers, which typically have an 80% turnover rate and cannot find enough quality candidates to hire. Our technology powers our virtual agent, the DISA. In the current marketplace, we consider any company which has a 50-seat call center at a telephony location is a potential sales client. These potential clients span many industry verticals, including but not limited to, health, solar, employee retention credit, insurance, recruiting and real estate, automotive, cruise lines and hospitality and lodging.

Vocodia AI sales agents not only sell and serve prospects and customers, but also gather and report robust intelligence from customers and the marketplace. Vocodia's DISAs are programmed to instantly answer customer service calls and to upsell and provide personalized customer care.

***Development Strategy***

Vocodia plans three phases of development to become the largest and most profitable AI service provider, globally, in the next five years:

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Integrate AI sales agents and customer service offerings directly into
 existing enterprises and then via CRM applications;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Increase sales of AI-assisted workflow to more enterprises in a variety
 of functions and industries (e.g., food ordering, administration, accounting, bookkeeping and human resources). Grow revenue streams,
 including based upon market pricing where our DISAs can perform at advantageous margins such as notable efficiencies or less operational
 costs to achieve the same function to the satisfaction of the end customer (acquisitions may become a significant part of our growth
 strategy, but at this time we have not identified any specific candidates that meet our objectives); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Integrate personal AI assistants to individuals for overall life assistance,
 integrated with existing sales and other AI bots, to serve members of the community.

***Acquisition Strategy***

Our strategy includes seeking to aggressively pursue acquisitions, including companies with revenue streams where our DISAs can perform at advantageous margins with noticeable efficiency or less operational costs to achieve the same function. The Company will concentrate on several important priorities in evaluating potential acquisition candidates, including the key considerations and objectives the Company hopes to achieve, which are listed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· acquiring beneficial technology or use;

· accelerating market share;

· increasing revenue;

· enhancing efficiencies in product and service delivery;

· identifying and addressing possible threats to our organization;

· acquiring access to targeted and specified client base;

· reducing client acquisition costs by reducing our demands on resources
 and time (opportunity costs);

· acquiring client bases from companies who have service relationships
 with consumers and acquisitions of companies with or without offerings of similar services;

· reducing our client acquisition costs, preserving going rates of such
 services, and extending our wrapped services to such client base; and

· maintaining Vocodia's dynamic pricing thereby potentially creating
 greater value opportunities and allows us to minimize market price arbitrage to maximize profit potential.

***Management and Operating Strategy***

Our management is market-receptive: as a new technology company, we seek to continuously identify new markets as well as industries where our services would be beneficial to potential customers. We believe that our technologies offer businesses and consumers significant advantages, but our technology is not yet generally recognized. We remain open to discovering new opportunities to offer our technology solutions.

We believe that we have an attractive operating model due to the scalability of our AI platform, the recurring nature of our revenue (Software-as-a Service ("SaaS")) and the potentially high operating margins. We rely on conversions (sales) to generate increased free cash flow. Conversions happen for us when our clients use our services to sell their products/services to their customers. Our operational structure and AI focus allow us to convert enterprise clients in their call center environments (allowing us to rapidly convert clients in a cost-effective manner).

Given the fixed-cost nature of our technology, DISAs allow us to scale our solutions quickly with low marginal costs. These DISAs can pitch and close, as well as manage full customer service operations, in high data interactive demand-based industries, while providing a full human conversation experience to human customers. Most of our customer contracts have a term of 12 months, a monthly fee of $795 per DISA per month, and a minimum commitment of 10 DISAs. Additionally, we have a software setup fee of $8,000 to begin building a DISA for a client (i.e., one-time setup fee for each client campaign). We believe that our recurring revenue, combined with our robust sales pipeline and enterprise customer base, will continue to contribute to our long-term growth and strong operating margins, giving us flexibility to allocate capital for our continued success.

***Growth Strategy***

 ****

We believe that the Company is well positioned for continued growth across the various markets in the call center space. Our strategy for achieving growth includes the following:

<u>Build upon our extensive client relationships</u>

We have a diversified pipeline of potential clients. Current clients include health insurance providers, health insurance recruiting new agents, employee retention credits, solar, real estate recruitment and real estate new clients. Through the development of our proprietary switch (as described below) and technical team, we have the ability to scale our DISAs over time. We also intend to scale our client base by strategically adding new sales development personnel and customer service and support team members. We believe that we are in the early stages of penetrating this expanding market with our DISA technology platform. Key elements of this strategy include:

· widely
 commercializing this new humanized conversational AI platform in the marketplace;

· increasing
 the enterprise client usage by increasing the number of DISAs per client;

· adding
 multi-channel capabilities to our platform in the form of text message, voicemail, social
 media (such as LinkedIn), etc. to increase connection rates; and

· acquiring
 new strategic partners who bring enhanced complimentary technology and revenue to help us
 increase market share.

<u>Continue to innovate</u> 

We believe a significant opportunity exists to enhance our technology platform and analytics using our vast database. We intend to expand our technology services offerings to capitalize on the evolving call center and customer service environment. Our investments in human capital, technology and services capabilities position us to continue to pursue rapid innovation. Examples of our recent innovations include:

&nbsp;&nbsp;&nbsp;&nbsp;· Upgrading
 our own proprietary switch. Our platform depends on phone switch capability (generally voice
 over internet protocol switches) to generate the actual connection from AI to the customer
 on the outside. Thus, we are dependent on outside telecom switches and infrastructure to
 manage the speed of our connection pace. This dynamic creates operational risk, due to the
 reliance of each switch provider's technology and infrastructure limits. The bulk of
 our challenges come from switch uncertainty. Therefore, our goal is to improve our own company-controlled
 switch, which is critical to our economic health, growth and can facilitate easier delivery
 of services provided in each software sale. We believe this development would provide us
 with switch independence, allowing us to obtain more control, efficiency and certainty of
 delivery while lowering internal costs and managing traffic to external, non-company managed
 switches. The benefits of building our own switch allows us to scale faster in the quantity
 of software licenses, the variety of industries and verticals served, the independent scale
 of service utilized by each individual software licensee (end user), and the quantity of
 connections made by the hour.

&nbsp;&nbsp;&nbsp;&nbsp;· Acquiring
 a predictive dialer with enhanced capabilities including speech-to-text ("STT")
 and "text-to-speech ("TTS") which assists us in implementing end-to-end
 solutions for all of our customers. As of the date of this prospectus, we have not come
 across any competitors that possess capabilities which replicate ours.

<u>Expand portfolio through strategic acquisitions</u> 

We have acquired, and expect to continue acquiring, assets and businesses that strengthen our value proposition to clients. We have developed an internal capability to source, evaluate and integrate acquisitions that have created value for our stockholders. We plan to target strategic acquisitions subsequent to the closing of this initial public offering, but we have not currently entered into any agreements for the acquisition of significant assets, businesses or companies. While there is no guarantee that any acquisition will be completed, successful acquisitions may bring a collection of complimentary technology and existing revenue to the Company. We also plan to continue to pursue strategic acquisitions to grow our platform and enhance our ability to provide more services to our clients. We also expect to seek favorable commercial opportunities, primarily in the areas of technological platforms, data suppliers and consulting services providers.

***Our Company Website***

As of the date of this prospectus, our website is *<u>www.vocodia.com</u>*. The information contained on our website is not incorporated by reference into this prospectus, and you should not consider any information (nor use the same in deciding whether to purchase our shares of common stock) contained on, or that can be accessed through, our website as part of this prospectus.

***Going Concern***

The combined financial statements which accompany this prospectus have been prepared assuming that the Company will continue as a going concern. As discussed in the report of the independent registered public accounting firm and the combined financial statements, the Company has suffered recurring losses from operations that raise substantial doubt about its ability to continue as a going concern.

***Status as a Controlled Company***

Because of the voting control held by Mr. Podolak and Mr. Sposato, we are considered a "controlled company" within the meaning of the listing standards of Nasdaq. Under these rules, a "controlled company" may elect not to comply with certain corporate governance requirements, including the requirement to have a board of directors that is composed of a majority of independent directors. We currently do not intend to take advantage of these exemptions but could do so at any time in the future provided that we continue to qualify as a "controlled company."

***Implications of being an Emerging Growth Company***

We are an "emerging growth company," as defined in Section 2(a) of the Securities Act of 1933, as amended (the "Securities Act"), as modified by the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"). As such, we are eligible to take advantage of certain exemptions from various reporting requirements applicable to other public companies that are not "emerging growth companies" including, but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· being permitted to present only two years of audited financial statements
 and only two years of related disclosure in *"Management's Discussion and Analysis of Financial Condition and Results of Operations*" in this prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· being permitted to provide less extensive narrative disclosure than
 other public companies, including not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley
 Act of 2002 and reduced disclosure obligations regarding executive compensation in our periodic reports, proxy statements and registration
 statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· being permitted to utilize exemptions from the requirements of holding
 a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· being permitted to defer complying with certain changes in accounting
 standards; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· being permitted to use test-the-waters communications with qualified
 institutional buyers and institutional accredited investors.

We intend to take advantage of these and other exemptions available to "emerging growth companies." We could remain an "emerging growth company" until the earliest of (i) the last day of our fiscal year following the fifth anniversary of the closing of this offering, (ii) the last day of the first fiscal year in which our annual gross revenues exceed $1.235 billion, (iii) the last day of our fiscal year in which we are deemed to be a "large accelerated filer" as defined in Rule 12b-2 under the Securities Exchange Act of 1934 (the "Exchange Act") (which would occur if the market value of our equity securities that is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter), or (iv) the date on which we have issued more than $1 billion in nonconvertible debt during the preceding three-year period.

The JOBS Act permits an "emerging growth company" like us to take advantage of an extended transition period to comply with new or revised accounting standards applicable to public companies. This means that 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 delay such adoption of new or revised accounting standards.

***Corporate History and Information***

 ****

Vocodia Holdings Corp was incorporated under the laws of the State of Wyoming on April 27, 2021.

Our principal executive office is located at 6401 Congress Avenue, Suite #160 Boca Raton, FL 33487. Our telephone number is (561) 484-5234. Our website address is *<u>https://vocodia.com</u>/* and our general email is sales@vocodia.com. The information contained on our website is not incorporated by reference into this prospectus, and you should not consider any information (nor use the same in deciding whether to purchase our shares of common stock) contained on, or that can be accessed through, our website as part of this prospectus.

**Summary of Risk Factors**

Below is a summary of material factors that make an investment in our shares of common stock speculative or risky. Importantly, this summary does not address all of the risks and uncertainties that we face. Additional discussion of the risks and uncertainties summarized in this risk factor summary, as well as other risks and uncertainties that we face, can be found under the section titled "*Risk Factors*" in this prospectus. The below summary is qualified in its entirety by that more complete discussion of such risks and uncertainties. You should consider carefully the risks and uncertainties described under the section titled "*Risk Factors*" as part of your evaluation of an investment in our shares of common stock:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***We will need to raise additional capital to expand our business to meet our long-term business objectives. We have limited revenues and we cannot predict when we will achieve significant revenues and sustained profitability.*** 

·  ***We require additional capital to support our present business plans and our anticipated business growth, and such capital may not be available on acceptable terms, or at all, which would adversely affect our ability to operate.*** 

·  ***Our auditors have concluded that there is a substantial doubt about the Company's ability to continue as a going concern.*** 

·  ***We cannot predict our future capital needs and we may not be able to secure additional financing.*** 

·  ***If we fail to retain certain of our key personnel and attract and retain additional qualified personnel, we might not be able to pursue our growth strategy.*** 

·  ***We are anticipating a period of rapid growth in our headcount and operations, which may place, to the extent that we are able to sustain such growth, a significant strain on our management and our administrative, operational and financial reporting infrastructure.*** 

·  ***Negative publicity could adversely affect our reputation, our business, and our operating results.*** 

·  ***Natural disasters and other events beyond our control could materially adversely affect us.*** 

·  ***Political and economic factors may negatively affect our financial condition or results of operations.*** 

·  ***The COVID-19 pandemic has negatively affected our operations and may continue to do so in the future.*** 

·  ***Market and economic conditions may negatively impact our business, financial condition and share price.*** 

·  ***We are authorized to issue "blank check" preferred stock without stockholder approval, which could adversely impact the rights of holders of our securities.*** 

·  ***Risks related to common stock and preferred stock voting rights.*** 

·  ***If we are unable to attract new customers and retain customers on a cost-effective basis, our business and results of operations will be adversely affected.*** 

·  ***If we fail to develop our brands cost-effectively, our business may be adversely affected.*** 

·  ***The market in which we participate is competitive and, if we do not compete effectively, our operating results could be harmed.*** 

·  ***We are reliant upon information technology to operate our business and maintain our competitiveness.*** 

·  ***Any significant disruption in service on our website or in our computer systems, or in our customer support services, could reduce the attractiveness of our services and result in a loss of customers.*** 

·  ***We do not have a disaster recovery system, which could lead to losses.*** 

·  ***There is a risk of a costly intellectual property lawsuit that may negatively impact Vocodia.*** 

·  ***If the security of our customers' confidential information stored in our systems is breached or otherwise subjected to unauthorized access, our reputation may be severely harmed, we may be exposed to liability and we may lose the ability to offer our customers a credit card payment option.*** 

·  ***We may be the subject of intentional cyber disruptions and attacks.*** 

·  ***We may not be able to adequately protect our proprietary technology, and our competitors may be able to offer similar products and services which would harm our competitive position.*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***We could be harmed by improper disclosure or loss of sensitive or confidential data.*** 

·  ***Unauthorized breaches or failures in cybersecurity measures adopted by us and/or included in our products and services could have a material adverse effect on our business.*** 

·  ***We may be subject to stringent and changing laws, regulations, standards, and contractual obligations related to privacy, data protection, and data security. Our actual or perceived failure to comply with such obligations could adversely affect our business.*** 

·  ***Online applications are subject to various laws and regulations relating to children's privacy and protection, which if violated, could subject us to an increased risk of litigation and regulatory actions.*** 

·  ***An acquisition may risk the dilution of our stockholders shares or it could otherwise disrupt our operations and adversely affect our operating results.*** 

·  ***An acquisition may not be in the best interests of common stockholders in the near term or at all.*** 

·  ***It may be more difficult for us to acquire target companies that meet our acquisition criteria.*** 

·  ***We may be required to take write-downs or incur write-offs, restructuring and impairment or other charges that could have a significant negative effect on our financial condition, results of operations and the price of our shares of common stock.*** 

·  ***We will likely not obtain an opinion from an independent accounting or investment banking firm in connection with the acquisition of a target business.*** 

·  ***Our resources could be wasted by acquisition transactions that are not completed*** 

·  ***The officers and directors of a target business may resign upon completion of our acquisition. The loss of a target business key personnel could negatively impact the operations and profitability of the target business post-acquisition.*** 

·  ***If we fail to keep pace with changing technologies, we may lose clients.*** 

·  ***Our clients may adopt technologies that decrease the demand for our services, which could adversely affect our revenues and results of operations.*** 

·  ***We may be liable to our clients for damages caused by system failures.*** 

·  ***There is a risk of our technology not being applied effectively.*** 

·  ***If our future products incorporate technologies that may infringe the proprietary rights of third parties, and we do not secure licenses from them, we could be liable for substantial damages.*** 

·  ***We are dependent on the continued availability of third-party data hosting and transmission services.*** 

·  ***A sustained, active trading market for our common stock may not develop or be maintained.*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***The price of our common stock may fluctuate substantially.*** 

·  ***There is an increased potential risk for new public companies similar to ours of rapid and substantial price volatility which may add to the risk of investing in this offering.*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***The initial public offering price of the shares of common stock may not be indicative of the value of our assets or the price at which your shares can be resold. The initial public offering price of the shares of common stock may not be an indication of our actual value.*** 

·  ***Investors in this offering will experience immediate and substantial dilution in the net tangible book value per share of common stock.*** 

·  ***We have broad discretion in the use of the net proceeds from this offering and may not use them effectively.*** 

·  ***There is no established trading market for our shares of common stock; further, our common stock will be subject to potential delisting if we do not maintain compliance with the listing requirements of The Nasdaq Capital Market.*** 

·  ***There is a risk of unfavorable commentary or downgrade our common stock, hurting the stock price.*** 

·  ***We may issue additional shares of common stock or other equity securities, or engage in other transactions that could dilute our book value or relative rights of our common stock, which may adversely affect the market price of our common stock and further dilute existing shareholders.*** 

·  ***The company may be dissolved or terminated.*** 

·  ***We do not anticipate paying any cash dividends on our common stock in the foreseeable future and, as such, capital appreciation, if any, of our common stock will be your sole source of gain for the foreseeable future.*** 

·  ***We are an "emerging growth company" and are able to avail ourselves of reduced disclosure requirements applicable to emerging growth companies, which could make our common stock less attractive to investors.*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***Financial reporting obligations of being a public company are expensive and time-consuming, and our management will be required to devote substantial time to compliance matters.*** 

·  ***If we fail to comply with the rules under Sarbanes-Oxley related to accounting controls and procedures in the future, or, if we discover material weaknesses and other deficiencies in our internal control and accounting procedures, our stock price could decline significantly and raising capital could be more difficult.*** 

·  ***Unidentified weaknesses in our internal controls, may hurt our future development.*** 

·  ***Future sales of a substantial number of our common stock cause impact our stock price's volatility.*** 

·  ***Future sales and issuances of our common stock or rights to purchase common stock, including pursuant to an equity incentive plan could result in additional dilution of the percentage ownership of our stockholders and could cause our stock price to fall.*** 

·  ***Potential comprehensive tax reform bills could adversely affect our business and financial condition.*** 

·  ***Our principal stockholders and management own a significant percentage of our stock and will be able to exert significant control over matters subject to stockholder approval.*** 

·  ***We will likely be considered a smaller reporting company and will be exempt from certain disclosure requirements, which could make our common stock less attractive to potential investors.*** 

·  ***Changes in accounting principles and guidance, or their interpretation, could result in unfavorable accounting changes or effects, including changes to our previously filed financial statements, which could cause our stock price to decline.*** 

·  ***Investing in a Nasdaq controlled company may involve risk.*** 

**THE OFFERING**

---

| | |
|:---|:---|
| **Shares of common stock offered by us:** | 2,142,858 shares of common stock 2,464,287 shares if the underwriters exercise their over-allotment option in full to purchase shares of common stock at the initial public offering price), based on an assumed initial public offering price between $7 and $9, which is the midpoint of the price range set forth on the cover page of this prospectus. |
| **Assumed initial public offering price** | The price per share will be between $7 and $9, which is the midpoint of the price range for such shares set forth on the cover page of this prospectus. The actual initial public offering price may be at, above or below such assumed initial public offering price and will be determined at pricing based on, among other factors, the closing bid price of the Common Stock on the effective date of this registration statement. See "Underwriting— Determination of Initial Public Offering Price" for additional information. |
| **Shares of common stock outstanding before this offering<sup>(1)</sup>** | 3,232,429 shares.<br>|
| **Shares of common stock outstanding after this offering<sup>(1)</sup>:** | 5,375,287 shares (or 5,696,716 shares if the underwriters exercise their over-allotment option in full to purchase 321,429 additional shares of common stock at the initial public offering price), based on an assumed offering price between $7 and $9 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, and assuming no exercise of any Representative's Warrants.  |
| **Over-allotment option:** | The Company has granted the underwriters an over-allotment option, which is exercisable for up to 45 days after the date of this prospectus, permits the underwriters to purchase a maximum of 321,429 additional shares of common stock (15% of the shares sold in this offering), based on the assumed initial public offering price of between $7 and $9 per share, the midpoint of the price range set forth on the cover page of this prospectus, to cover over-allotments, if any.  |
| **Use of proceeds:** | We estimate that the net proceeds from this offering will be approximately $15,642,864, or approximately $17,989,295 if the underwriters exercise their over-allotment option in full, after deducting the underwriting discounts and commissions and estimated offering expenses payable by us, assuming no exercise of the Representative's Warrants. The Company intends to use the net proceeds from this offering for acquisitions of websites, technologies, or other assets, building an improved switch, for expanding product offerings from other digital channels, sales and marketing, working capital and general other corporate purposes.<sup>(2)</sup> See section entitled "*Use of Proceeds*" for a more complete description of the intended use of proceeds from this offering. |
| **Representative's Warrants:** | We have agreed to issue the Representative warrants (the "Representative's Warrants") to purchase up to shares of common stock (equal to 3% of the total number of shares of common stock sold in this offering, including any common stock sold pursuant to the over-allotment option). The Representative's Warrants are not redeemable, and will be exercisable during the period beginning on the date that is 180 days following the effective date of the registration statement and ending on the fifth anniversary date of such date at an exercise price of $9.60 per share (120% of the initial public offering price). The registration statement of which this prospectus forms a part also registers the Representative's Warrants and the common stock underlying the Representative's Warrants. See "*Underwriting — Representative's Warrants*" in this prospectus for more information regarding the Representative's Warrants. |

---

---

| | |
|:---|:---|
| **Lock-up agreements:** | Our executive officers and directors have agreed with the underwriters not to sell, transfer or dispose of any common stock or similar securities for six months following the effective date of the registration statement for this offering without the prior written consent of the Representative. Any other holders of more than 5% of the outstanding shares of our common stock have also agreed with the underwriters not to sell, transfer or dispose of any common stock or similar securities for six months following the effective date of the registration statement for this offering without the prior written consent of the underwriters. For additional information regarding our arrangement with the underwriters, please see "*Underwriting*." |
| **Dividend policy:** | We have never declared any cash dividends on our shares of common stock. We do not anticipate paying any cash dividends on our shares of common stock for the foreseeable future. See "*Dividend Policy*," "*Risk Factors – Risks Related to the Offering and our Common Stock*" in this prospectus for more information regarding our dividend policy. |
| **Trading symbol:** | We are seeking to list our common stock on Nasdaq. Upon approval to list our common stock we anticipate that the common stock, will be listed on Nasdaq under the symbol "VOCO". No assurance can be given that our application will be approved by The Nasdaq Stock Market LLC. |
| **Transfer Agent:** | Vstock Transfer, LLC |
| **Risk factors:** | You should carefully consider the information set forth in this prospectus and the specific factors set forth in the "*Risk Factors*" section beginning on page 11 of this prospectus before deciding whether or not to invest in the shares of our common stock. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) As of the date of this prospectus, such number excludes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· up to 173,000 shares of common stock issuable upon exercise of outstanding
 warrants as of such date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· no exercise of the underwriters'
 option to purchase up to an additional 15% of shares of common stock to cover over-allotments,
 if any; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock
 issuable upon exercise of the Representative's Warrants to be issued to the underwriters in
 connection with this offering.

· The data presented does not include any warrants that may be exercised
 for the convertible notes we issued.

· All share and per share information
 referenced throughout this prospectus has been retroactively adjusted to reflect a 1-for-20 Reverse
 Stock Split (the "Reverse Stock Split") of our issued and outstanding common stock effected
 on January 27, 2023. Any fractional shares resulting from the Reverse Stock Split have been rounded
 up to the nearest whole share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The Company estimates that it may use up to $1,500,000 from the gross
 proceeds raised from this offering to pay the total fees, commissions, expenses and other costs associated with this offering
 (including, but not limited, to the: underwriting fees and commissions, SEC registration fee, FINRA filing fee, Nasdaq Capital
 Market initial listing fee, accounting fees and expenses, legal fees and expenses, printing fees and expenses, and other
 miscellaneous fees).

**SUMMARY FINANCIAL INFORMATION**

The summary selected financial data set forth below should be read together with our financial statements and the related notes to those statements, as well as the information under the captions "*Capitalization*" and "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" sections of this prospectus. The financial data for the nine months ended September 30, 2022 has been derived from our unaudited financial statements included elsewhere in this prospectus. The statements of operations data for the year ended December 31, 2021 has been derived from our audited financial statements included elsewhere in this prospectus. Our historical results are not necessarily indicative of the results that may be expected in the future, and the results for the year ended December 31, 2021 are not necessarily indicative of results to be expected for the full year ending December 31, 2022. Our historical results are not necessarily indicative of our future results or any other period. The summary financial data included in this section are not intended to replace the financial statements and the related notes included elsewhere in this prospectus.

Vocodia Holdings Corp Combined Balance Sheet

for the Nine Month Period that ended September 30, 2021 and 2022

---

| | | |
|:---|:---|:---|
|  | **December 31, 2021** | **September 30, 2022** |
|  | | (Unaudited) |
| **ASSETS** |  |  |
| **<u>Current Assets</u>** |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $638641 | $853121 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net |  | 41450 |
| &nbsp;&nbsp;&nbsp;Other receivables |  | 12494 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 45960 | 92272 |
| **Total Current Assets** | **684601** | **999337** |
| Property and equipment, net | 33319 | 28685 |
| **<u>Intangibles & Other Assets</u>** |  |  |
| &nbsp;&nbsp;&nbsp;Right-of-use assets, net | 499714 | 433749 |
| &nbsp;&nbsp;&nbsp;Software development costs, net | 463822 | 965694 |
| &nbsp;&nbsp;&nbsp;Other assets | 126073 | 21859 |
| **Total Intangibles & Other Assets** | **1089609** | **1421302** |
| **TOTAL ASSETS** | $**1807529** | $**2449324** |
| **LIABILITIES AND SHAREHOLDERS EQUITY** |  |  |
| **<u>Current Liabilities</u>** |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | $157712 | $341485 |
| &nbsp;&nbsp;&nbsp;Notes payable, net |  | 1276151 |
| &nbsp;&nbsp;&nbsp;Operating lease liability, current portion | 85887 | 95527 |
| **Total Current Liabilities** | **243599** | **1713164** |
| **<u>Non-current Liabilities</u>** |  |  |
| &nbsp;&nbsp;&nbsp;Operating lease liability, less current portion | 437350 | 365026 |
| **Total Non-Current Liabilities** | **437350** | **365026** |
| **TOTAL LIABILITIES** | **680949** | **2078190** |
| <u>**<u>Shareholders' Equity:</u>**<br></u>  |  |  |
| **Preferred stock, $0.0001 par value, 24,000,000 shares authorized; 4,000,000 shares issued and outstanding, actual**  | **-** | **-** |
| Common stock, $0.0001 par value, 476,000,000 shares authorized; 2,578,000 and 2,738,179 shares issued and outstanding at December 31, 2021 and September 30, 2022, respectively | 5156 | 5476 |
| Additional paid-in capital | 5954944 | 10398777 |
| Accumulated deficit | (4833520) | (10573121) |
| **Total shareholders' equity** | **1126580** | **371132** |
| **TOTAL LIABILITIES AND SHAREHOLDERS EQUITY** | $**1807529** | $**2449321** |

---

See accompanying notes to combined financial statements.

Vocodia Holdings Corp and Subsidiary Combined Statements

of Operations for the Nine Month Period that ended September 30, 2021 and 2022

---

| | | |
|:---|:---|:---|
|  | **September 30, 2021** | **September 30, 2022** |
|  | (Unaudited) | (Unaudited) |
| **Net Sales** | $- | $156607 |
| **Cost of Sales** | 2618 | 252955 |
| **Gross Loss** | **(2618)** | **(96348)** |
| **<u>SG&A</u>** |  |  |
| &nbsp;&nbsp;&nbsp;General & Administrative Expenses | 807161 | 1702751 |
| &nbsp;&nbsp;&nbsp;Advertising | 160275 | 321215 |
| &nbsp;&nbsp;&nbsp;Salaries and Wages | 327503 | 1404125 |
| &nbsp;&nbsp;&nbsp;Services | 643972 | 2196805 |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 1523 | 5564 |
| **Total SG&A** | **1940434.00** | **5630459.75** |
| **Operating Loss** | (1943052) | (5726807) |
| **<u>Other Income (Expenses)</u>** |  |  |
| &nbsp;&nbsp;&nbsp;Gain (Loss) on Investment | 116875 |  |
| &nbsp;&nbsp;&nbsp;Interest Expense | - | 12794 |
| **Total Other Income (Expenses)** | **116875** | **12794** |
| **Earnings Before Taxes** | (2059927) | (5739601) |
| &nbsp;&nbsp;&nbsp;Federal Income Tax |  |  |
| &nbsp;&nbsp;&nbsp;State Income Tax | - | - |
| **Net Loss** | $**(2059927.00)** | $**(5739601.33)** |

---

See accompanying notes to combined financial statements.

**Provision for Income Taxes**

Provision for income taxes consists of federal and state income taxes in the United States, including deferred income taxes reflecting the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes.

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2021** | **September 30,**<br>**2022** |
| Current tax expense: |  |  |
| &nbsp;&nbsp;&nbsp;Current Income Tax Expense - federal | $0- | $0- |
| &nbsp;&nbsp;&nbsp;Current Income Tax Expense - state | 0- | 0- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current tax expense | $0- | $0- |
| Deferred tax expense: |  |  |
| &nbsp;&nbsp;&nbsp;Deferred Income Tax Expense - federal | $0- | $0- |
| &nbsp;&nbsp;&nbsp;Deferred Income Tax Expense - state | 0- | 0- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Deferred tax expense | $0- | $0- |
|  | **December 31,** | **September 30,** |
|  | **2021** | **2022** |
| Current tax expense: |  |  |
| &nbsp;&nbsp;&nbsp;Current Income Tax Expense - federal | $- | $- |
| &nbsp;&nbsp;&nbsp;Current Income Tax Expense - state | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current tax expense | $- | $- |
| Deferred tax expense: |  |  |
| &nbsp;&nbsp;&nbsp;Deferred Income Tax Expense - federal | $- | $- |
| &nbsp;&nbsp;&nbsp;Deferred Income Tax Expense - state | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Deferred tax expense | $- | $- |

---

**RISK FACTORS**

*Investing in our shares of common stock involves a high degree of risk. Prospective investors should carefully consider the risks described below, together with all of the other information included or referred to in this prospectus, before purchasing our shares of common stock. There are numerous and varied risks that may prevent the Company from achieving its goals. If any of these risks actually occur, the Company's business, financial condition or results of operations may be materially adversely affected. In such case, the trading price of our common stock could decline and investors could lose all or part of their investment.*

**Risks Related to Our Business – General** 

***We will need to raise additional capital to expand our business to meet our long-term business objectives. We have limited revenues and we cannot predict when we will achieve significant revenues and sustained profitability.***

We have limited revenues and cannot definitively predict when we will achieve significant revenues and sustained profitability. We do not anticipate generating significant revenues until we successfully raise funds pursuant to this offering and execute our business strategy and operations, of which we can give no assurance. We are unable to determine when we will generate significant revenues from our operations. We cannot predict when we will achieve profitability, if ever. Our inability to become profitable may force us to sell certain of our websites, reduce operations or reduce our staff. Furthermore, we cannot assure you that profitability, if achieved, can be sustained on an ongoing or long-term basis.

***We require additional capital to support our present business plans and our anticipated business growth, and such capital may not be available on acceptable terms, or at all, which would adversely affect our ability to operate.***

We will require additional funds to further develop our business plan. Based on our current operating plans, we plan to use $6,000,000 in capital to fund our acquisitions of websites, technologies or other assets (as of the date of this prospectus, we have no agreements in place to make any acquisitions), $1,000,000 for building an improved switch, $5,000,000 for expanding our product offerings from other digital channels, sales and $3,642,864 for sales and marketing, working capital and general corporate purposes. We may choose to raise additional capital beyond these amounts in order to expedite and propel growth more rapidly. We can give no assurance that we will be successful in raising any additional funds. Additionally, if we are unable to generate sufficient revenues from our sales and operating activities, we may need to raise additional funds, doing so through debt and equity offerings, in order to meet our expected future liquidity and capital requirements, including capital required for operations. Any such financing that we undertake will likely be dilutive to current stockholders.

We intend to continue to make investments to support our business growth, including acquiring additional assets. In addition, we may also need additional funds to respond to other business opportunities and challenges, including our ongoing operating expenses, protecting our intellectual property, and enhancing our operating infrastructure. While we may need to seek additional funding for such purposes, we may not be able to obtain financing on acceptable terms, or at all. In addition, the terms of our financings may be dilutive to, or otherwise adversely affect, holders of our common stock. We may also seek to raise additional funds through arrangements with collaborators or other third parties. We may not be able to negotiate any such arrangements on acceptable terms, if at all. If we are unable to obtain additional funding on a timely basis, we may be required to curtail or terminate some or all our business plans.

***We cannot predict our future capital needs and we may not be able to secure additional financing.***

We will need to raise additional funds in the future to fund our working capital needs and to fund further expansion of our business. We may require additional equity or debt financings, collaborative arrangements with corporate partners or funds from other sources for these purposes. No assurance can be given that necessary funds will be available for us to finance our development on acceptable terms, if at all. Furthermore, such additional financings may involve substantial dilution of our stockholders or may require that we relinquish rights to certain of our technologies or products. In addition, we may experience operational difficulties and delays due to working capital restrictions. If adequate funds are not available from operations or additional sources of financing, we may have to delay or scale back our growth plans.

***Our auditors have concluded that there is a substantial doubt about the Company's ability to continue as a going concern.***

 ****

The Company's auditors, Daszkal Bolton LLP, stated in their Notes to the Company's 2020 and 2021 Combined Financial Statements that the Company has suffered recurring losses from operations that raise substantial doubt about the Company's ability to continue as a going concern.

 ****

***If we fail to retain certain of our key personnel and attract and retain additional qualified personnel, we might not be able to pursue our growth strategy.***

Our future success will depend upon the continued services of Brian Podolak, our Chief Executive Officer, Richard Shuster, our Chief Financial Officer, Mark Terrill, our Chief Operating Officer, James Sposato, our Chief Technology Officer, and other members of our key management team and our consultants. We especially consider Mr. Podolak to be critical to the management of our business and operations and the development of our strategic direction. Though no individual is indispensable, the loss of the services of these individuals could have a material adverse effect on our business, operations, revenues or prospects. We do not currently maintain key man life insurance on the lives of these individuals. Our future success will also depend on our ability to identify, hire, develop, motivate and retain highly skilled personnel. Competition in our industry for qualified employees is intense, and our compensation arrangements may not always be successful in attracting new employees and/or retaining and motivating our existing employees. Future acquisitions by us may also cause uncertainty among our current employees and employees of the acquired business, which could lead to the departure of key individuals. Such departures could have an adverse impact on the anticipated benefits of an acquisition.

***We are anticipating a period of rapid growth in our headcount and operations, which may place, to the extent that we are able to sustain such growth, a significant strain on our management and our administrative, operational and financial reporting infrastructure.***

Our success will depend in part on the ability of our senior management to manage this expected growth effectively. To do so, we believe we will need to continue to hire, train and manage new employees as needed. If our new hires perform poorly, or if we are unsuccessful in hiring, training, managing and integrating these new employees, or if we are not successful in retaining our existing employees, our business may be harmed. To manage the expected growth of our operations and personnel, we will need to continue to improve our operational and financial controls and update our reporting procedures and systems. The expected addition of new employees and the capital investments that we anticipate will be necessary to manage our anticipated growth and will increase our cost base, which may make it more difficult for us to offset any future revenue shortfalls by reducing expenses in the short term. If we fail to successfully manage our anticipated growth, then we will be unable to execute our business plan.

***Negative publicity could adversely affect our reputation, our business, and our operating results.***

Negative publicity about our Company (including, but not limited to the quality and reliability of our products and services, our privacy and security practices, and litigation involving or relating to us) could adversely affect our reputation which, in turn, could adversely affect our business, results of operations and financial condition. Because Vocodia is in a competitive industry where public perception is important, any harm to the Company's reputation could be significant. Negative perception about the Company or its software and platform could harm sales and business prospects.

***Natural disasters and other events beyond our control could materially adversely affect us.***

Natural disasters or other catastrophic events may cause damage or disruption to our operations, international commerce and the global economy, and thus could have a strong negative effect on us. Our business operations are subject to interruption by natural disasters, fire, power shortages, pandemics and other events beyond our control. Such events could make it difficult or impossible for us to deliver our products and services to our customers and could decrease demand for our products and services.

Additionally, we depend on the efficient and uninterrupted operations of our third-party data centers and hardware systems. The data centers and hardware systems are vulnerable to damage from earthquakes, tornados, hurricanes, fire, floods, power loss, telecommunications failures and similar events. If any of these events results in damage to third-party data centers or systems, we may be unable to provide our clients with our products and services until the damage is repaired and may accordingly lose clients and revenues. In addition, subject to applicable insurance coverage, we may incur substantial costs in repairing any damage.

***Political and economic factors may negatively affect our financial condition or results of operations.***

Supply chain interruptions, regulatory changes, or political climate concerns could potentially adversely impact our relationships. Additionally, rising inflation could cause our product, marketing, and labor costs to rise beyond an acceptable level to us or cause us to increase our prices to a level not accepted by consumers. Furthermore, market volatility and macro-economic risks, including a slowdown or potential recession, could harm the Company and its business. Vocodia operates in the sales and customer service sector, and reductions in discretionary spending or consumer demand could have a significant negative impact on the Company's operations and prospects. Any of the foregoing factors could negatively impact our financial condition or the results of our operations.

***The COVID-19 pandemic has negatively affected our operations and may continue to do so in the future.***

The World Health Organization declared the COVID-19 outbreak a pandemic. The COVID-19 pandemic has negatively affected our operations and may continue to do so in the future. The COVID-19 pandemic has resulted in social distancing, travel bans and quarantine, which has limited access to our facilities, potential customers, management, support staff and professional advisors and can, in the future, impact our supply chain. These factors, in turn, may not only impact our operations, financial condition and demand for our products but our overall ability to react in a timely manner, to mitigate the impact of this event.

In the past, the pandemic negatively affected the development of software, limited identification and cooperation with development partners and slowed the progress of development and deployment. Vocodia was also negatively affected due to lack of coordination with early customers, which paid and contracted with management to provide our software as it was developed. We believe that business contracts were jeopardized due to lack of cooperation and the business disruption resulting from stay-at-home policies which severely derailed our coordination with other parties. Further we believe that the pandemic had an adverse effect on development of other in-development partners, including key personnel in software coding and development who suffered health conditions during the pandemic and limited our performance.

The extent of the impact of the COVID-19 pandemic on our operational and financial performance will depend on certain developments, including the duration and spread of the outbreak and the impact on our customers and employees, all of which are uncertain and cannot be predicted. At this point, the overall extent to which COVID-19 may impact our financial condition or results of operations in the future is uncertain.

 ****

***Market and economic conditions may negatively impact our business, financial condition and share price.***

Concerns over the COVID-19 pandemic, inflation, energy costs, geopolitical issues, the U.S. mortgage market and unstable real estate market, unstable global credit markets and financial conditions, and volatile oil prices have led to periods of significant economic instability, diminished liquidity and credit availability, declines in consumer confidence and discretionary spending, diminished expectations for the global economy and expectations of slower global economic growth going forward, increased unemployment rates, and increased credit defaults in recent years. Our general business strategy may be adversely affected by any such economic downturns, volatile business environments and continued unstable or unpredictable economic and market conditions. If these conditions continue to deteriorate or do not improve, it may make any necessary debt or equity financing more difficult to complete, more costly, and more dilutive. Failure to secure any necessary financing in a timely manner and on favorable terms could have a material adverse effect on our growth strategy, financial performance, and overall plan of business.

 ****

***We are authorized to issue preferred stock without stockholder approval, which could adversely impact the rights of holders of our securities.***

Our articles of incorporation authorize us to issue up to 24,000,000 shares of preferred stock of which 4,000,000 shares are currently issued and outstanding. Any shares or series of preferred stock that we issue in the future may rank ahead of our other securities in terms of dividend priority or liquidation premiums and may have greater voting rights than our common stock. In addition, we may issue preferred stock that could contain provisions allowing those shares to be converted into shares of common stock, which could dilute the value of our common stock to current stockholders and could adversely affect the market price, if any, of our common stock. In addition, the preferred stock could be utilized, under certain circumstances, as a method of discouraging, delaying or preventing a change in control of our Company.

***Risks related to common stock and preferred stock voting rights.***

Each share of our common stock is entitled to one vote per share, while our preferred stock is entitled to 1000 votes per share. As of the date of this prospectus, we have issued 4,000,000 shares of our preferred stock: 2,000,000 preferred shares are owned by Mr. Podolak, our Chief Executive Officer and the remaining 2,000,000 preferred shares are owned by Mr. Sposato, our Chief Technology Officer. Although we have no present intention to issue any additional shares of authorized preferred stock, there can be no assurance that we will not do so in the future. There is a risk that the holders of the preferred stock may control a significant amount of our activities due to said preferred shares voting power.

**Risks Related to Our Business – Operating Our Website**

***If we are unable to attract new customers and retain customers on a cost-effective basis, our business and results of operations will be adversely affected.***

To succeed, we must attract and retain customers on a cost-effective basis. We rely on a variety of methods to attract new customers, such as paying providers of online services, search engines, directories and other websites to provide content, advertising banners and other links that direct customers to our website, direct sales and partner sales. If we are unable to use any of our current marketing initiatives or the cost of such initiatives were to significantly increase or such initiatives or our efforts to satisfy our existing customers are not successful, we may not be able to attract new customers or retain customers on a cost-effective basis and, as a result, our revenue and results of operations would be adversely affected.

Additionally, factors outside of our control, such as new terms, conditions, policies, or other changes made by the online services, search engines, directories and other websites that we rely upon to attract new customers could cause our websites to experience short- or long-term business disruptions, which could adversely affect our revenue and results of operations.

***If we fail to develop our brands cost-effectively, our business may be adversely affected.***

Successful promotion of our Company's brands will depend largely on the effectiveness of our marketing efforts and on our ability to provide reliable and useful products and services at competitive prices. Brand promotion activities may not yield increased revenue, and even if they do, any increased revenue may not offset the expenses we incur in building our brands. If we fail to successfully promote and maintain our brands or incur substantial expenses in an unsuccessful attempt to promote and maintain our brands, we may fail to attract enough new customers or retain existing customers to the extent necessary to realize a sufficient return on our brand-building efforts, and our business and results of operations could suffer.

***The market in which we participate is competitive and, if we do not compete effectively, our operating results could be harmed.***

The market for our clients, goods and services is competitive and rapidly changing, and the barriers to entry are relatively low. With the influx of new entrants to the market, we expect competition to persist and intensify in the future, which could harm our ability to increase sales, limit customer attrition and maintain our prices. Competition could result in reduced sales, reduced margins or the failure of our products and services to achieve or maintain more widespread market acceptance, any of which could harm our business. We compete with large established companies possessing large, existing customer bases, substantial financial resources and established distribution channels, as well as smaller less established businesses. If either of these types of competitors decide to develop, market or resell competitive services, acquire one of our existing competitors or form a strategic alliance with one of our competitors, our ability to compete effectively could be significantly compromised and our operating results could be harmed. Our current and potential competitors may have significantly more financial, technical, marketing and other resources than we do and may be able to devote greater resources to the development, promotion, sale and support of their products and services. Our current and potential competitors have more extensive customer bases and broader customer relationships than we have. If we are unable to compete with such companies, the demand for our products could substantially decline.

**Risks Related to Information Technology Systems, Intellectual Property and Privacy Laws**

***We are reliant upon information technology to operate our business and maintain our competitiveness.***

Our ability to leverage our technology and data scale is critical to our long-term strategy. Our business increasingly depends upon the use of sophisticated information technologies and systems, including technology and systems (cloud solutions, mobile and otherwise) utilized for communications, marketing, productivity tools, training, lead generation, records of transactions, business records (employment, accounting, tax, etc.), procurement and administrative systems. The operation of these technologies and systems is dependent upon third-party technologies, systems and services, for which there are no assurances of continued or uninterrupted availability and support by the applicable third-party vendors on commercially reasonable terms. We also cannot assure that we will be able to continue to effectively operate and maintain our information technologies and systems. In addition, our information technologies and systems are expected to require refinements and enhancements on an ongoing basis, and we expect that advanced new technologies and systems will continue to be introduced. We may not be able to obtain such new technologies and systems, or to replace or introduce new technologies and systems as quickly as our competitors or in a cost-effective manner. Also, we may not achieve the benefits anticipated or required from any new technology or system, and we may not be able to devote financial resources to new technologies and systems in the future.

 ****

***Any significant disruption in service on our website or in our computer systems, or in our customer support services, could reduce the attractiveness of our services and result in a loss of customers.***

The satisfactory performance, reliability and availability of our services are critical to our operations, level of customer service, reputation and ability to attract new customers and retain customers. Most of our computing hardware is co-located in third-party hosting facilities. None of the companies who host our systems guarantee that our customers' access to our products will be uninterrupted, error-free or secure. Our operations depend on their ability to protect their and our systems in their facilities against damage or interruption from natural disasters, power or telecommunications failures, air quality, temperature, humidity and other environmental concerns, computer viruses or other attempts to harm our systems, criminal acts and similar events. If our arrangements with third-party data centers are terminated, or there is a lapse of service or damage to their facilities, we could experience interruptions in our service as well as delays and additional expense in arranging new facilities. Any interruptions or delays in access to our services, whether as a result of a third-party error, our own error, natural disasters or security breaches, whether accidental or willful, could harm our relationships with customers and our reputation. These factors could damage our brand and reputation, divert our employees' attention, reduce our revenue, subject us to liability and cause customers to cancel their accounts, any of which could adversely affect our business, financial condition and results of operations.

***We do not have a disaster recovery system, which could lead to service interruptions and result in a loss of customers.***

Although we have all of our data backed up with multiple services, we do not have any disaster recovery systems. In the event of a disaster in which our software or hardware are irreparably damaged or destroyed, we would experience interruptions in access to our services. Any or all these events could cause our customers to lose access to our services.

***If a third party asserts that we are infringing its intellectual property, whether successful or not, it could subject us to costly and time-consuming litigation or require us to obtain expensive licenses, and our business may be adversely affected.***

Our industry is characterized by the existence of a large number of patents, trademarks and copyrights and by frequent litigation based on allegations of infringement or other violations of intellectual property rights. Third parties may assert patent and other intellectual property infringement claims against us in the form of lawsuits, letters or other forms of communication. These claims, whether or not successful, could:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· divert management's attention;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· result in costly and time-consuming litigation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· require us to enter into royalty or licensing agreements, which may
 not be available on acceptable terms, or at all;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· in the case of any open source software-related claims, require us
 to release our software code under the terms of an open source license; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· require us to redesign our software and services to avoid infringement.

As a result, any third-party intellectual property claims against us could increase our expenses and adversely affect our business. Even if we have not infringed any third parties' intellectual property rights, we cannot be sure our legal defenses will be successful, and even if we are successful in defending against such claims, our legal defense could require significant financial resources and management time. Finally, if a third party successfully asserts a claim that our products infringe its proprietary rights, royalty or licensing agreements might not be available on terms we find acceptable or at all, and we may be required to pay significant monetary damages to such third party.

***If the security of our customers' confidential information stored in our systems is breached or otherwise subjected to unauthorized access, our reputation may be severely harmed, we may be exposed to liability and we may lose the ability to offer our customers a credit card payment option.***

Our system stores our customers' proprietary email distribution lists, credit card information and other critical data. Any accidental or willful security breaches or other unauthorized access could expose us to liability for the loss of such information, adverse regulatory action by federal and state governments, time-consuming and expensive litigation and other possible liabilities as well as negative publicity, which could severely damage our reputation. If security measures are breached because of third-party action, employee error, malfeasance or otherwise, or if design flaws in our software are exposed and exploited, and, as a result, a third party obtains unauthorized access to any of our customers' data, our relationships with our customers will be severely damaged, and we could incur significant liability. Because techniques used to obtain unauthorized access or to sabotage systems change frequently and generally are not recognized until they are launched against a target, we and our third-party hosting facilities may be unable to anticipate these techniques or to implement adequate preventative measures. In addition, many states have enacted laws requiring companies to notify individuals of data security breaches involving their personal data. These mandatory disclosures regarding a security breach often lead to widespread negative publicity, which may cause our customers to lose confidence in the effectiveness of our data security measures. Any security breach, whether actual or perceived, would harm our reputation, and we could lose customers and fail to acquire new customers.

If we fail to maintain our compliance with the data protection policy documentation standards adopted by the major credit card issuers, we could lose our ability to offer our customers a credit card payment option. Any loss of our ability to offer our customers a credit card payment option would make our products less attractive to many small organizations by negatively impacting our customer experience and significantly increasing our administrative costs related to customer payment processing.

***We may be the subject of intentional cyber disruptions and attacks.***

We expect to be an ongoing target of attacks specifically designed to impede the performance of our products and services. Experienced computer programmers, or hackers, may attempt to penetrate our network security or the security of our data centers and IT environments. These hackers, or others, which may include our employees or vendors, may cause interruptions of our services. Although we continually seek to improve our countermeasures to prevent and detect such incidents, if these efforts are not successful, our business operations, and those of our customers, could be adversely affected, losses or theft of data could occur, our reputation and future sales could be harmed, governmental regulatory action or litigation could be commenced against us and our business, financial condition, operating results and cash flow could be materially adversely affected.

***We may not be able to adequately protect our proprietary technology, and our competitors may be able to offer similar products and services which would harm our competitive position.***

Our success, in part, depends upon our proprietary technology. We have various forms of intellectual property including copyright, trademark, confidentiality procedures and contractual provisions to establish and protect our proprietary rights. Despite these precautions, third parties could copy or otherwise obtain and use our technology without authorization, or develop similar technology independently. We also pursue the registration of our domain names, trademarks, and service marks in the United States. If we file patent applications, we cannot assure you that any of the patent applications that we file will ultimately result in an issued patent or, if issued, that they will provide sufficient protections for our technology against competitors. We cannot assure you that the protection of our proprietary rights will be adequate or that our competitors will not independently develop similar technology, duplicate our products and services or design around any intellectual property rights we hold.

 ****

***We could be harmed by improper disclosure or loss of sensitive or confidential data.***

Our business operations require us to process and transmit data. Unauthorized disclosure or loss of sensitive or confidential data may occur through a variety of methods. These include, but are not limited to, systems failure, employee negligence, fraud or misappropriation, or unauthorized access to or through our information systems, whether by our employees or third parties, including a cyberattack by computer programmers, hackers, members of organized crime and/or state-sponsored organizations, who may develop and deploy viruses, worms or other malicious software programs.

Such disclosure, loss or breach could harm our reputation and subject us to government sanctions and liability under laws and regulations that protect sensitive or personal data and confidential information, resulting in increased costs or loss of revenues. It is possible that security controls over sensitive or confidential data and other practices we and our third-party vendors follow may not prevent the improper access to, disclosure of, or loss of such information. The potential risk of security breaches and cyberattacks may increase as we acquire additional business and introduce new services and offerings. Further, data privacy is subject to frequently changing rules and regulations, which sometimes conflict among the various jurisdictions in which our websites operate. Any failure or perceived failure to successfully manage the collection, use, disclosure, or security of personal information or other privacy related matters, or any failure to comply with changing regulatory requirements in this area, could result in legal liability or impairment to our reputation in the marketplace.

***Unauthorized breaches or failures in cybersecurity measures adopted by us and/or included in our products and services could have a material adverse effect on our business.***

Information security risks have generally increased in recent years, in part because of the proliferation of new technologies and the use of the Internet, and the increased sophistication and activity of organized crime, hackers, terrorists, activists, cybercriminals and other external parties, some of which may be linked to terrorist organizations or hostile foreign governments. Cybersecurity attacks are becoming more sophisticated and include malicious attempts to gain unauthorized access to data and other electronic security breaches that could lead to disruptions in critical systems, unauthorized release of confidential or otherwise protected information and corruption of data, substantially damaging our reputation. Our security systems are designed to maintain the security of our users' confidential information, as well as our own proprietary information. Accidental or willful security breaches or other unauthorized access by third parties or our employees, our information systems or the systems of our third-party providers, or the existence of computer viruses or malware in our or their data or software could expose us to risks of information loss and misappropriation of proprietary and confidential information, including information relating to our products or customers and the personal information of our employees.

In addition, we could become subject to unauthorized network intrusions and malware on our own IT networks. Any theft or misuse of confidential, personal or proprietary information as a result of such activities or failure to prevent security breaches could result in, among other things, unfavorable publicity, damage to our reputation, loss of our trade secrets and other competitive information, difficulty in marketing our products, allegations by our customers that we have not performed our contractual obligations, litigation by affected parties and possible financial obligations for liabilities and damages related to the theft or misuse of such information, as well as fines and other sanctions resulting from any related breaches of data privacy regulations, any of which could have a material adverse effect on our reputation, business, profitability and financial condition. Furthermore, the techniques used to obtain unauthorized access or to sabotage systems change frequently and are often not recognized until launched against a target, and we may be unable to anticipate these techniques or to implement adequate preventative measures.

***We may be subject to stringent and changing laws, regulations, standards, and contractual obligations related to privacy, data protection, and data security. Our actual or perceived failure to comply with such obligations could adversely affect our business.***

We receive, collect, store, and process certain personally identifiable information about individuals and other data relating to our customers. We have legal and contractual obligations regarding the protection of confidentiality and appropriate use of certain data, including personally identifiable and other potentially sensitive information about individuals. We may be subject to numerous federal, state, local, and international laws, directives, and regulations regarding privacy, data protection, and data security and the collection, storing, sharing, use, processing, transfer, disclosure, disposal and protection of information about individuals and other data, the scope of which are changing, subject to differing interpretations, and may be inconsistent among jurisdictions or conflict with other legal and regulatory requirements. We strive to comply with our applicable data privacy and security policies, regulations, contractual obligations, and other legal obligations relating to privacy, data protection, and data security. However, the regulatory framework for privacy, data protection and data security worldwide is, and is likely to remain for the foreseeable future, uncertain and complex, and it is possible that these or other actual or alleged obligations may be interpreted and applied in a manner that we do not anticipate or that is inconsistent from one jurisdiction to another and may conflict with other legal obligations or our practices. Further, any significant change to applicable laws, regulations or industry practices regarding the collection, use, retention, security, processing, transfer or disclosure of data, or their interpretation, or any changes regarding the manner in which the consent of users or other data subjects for the collection, use, retention, security, processing, transfer or disclosure of such data must be obtained, could increase our costs and require us to modify our services and features, possibly in a material manner, which we may be unable to complete, and may limit our ability to receive, collect, store, process, transfer, and otherwise use user data or develop new services and features.

If we are found in violation of any applicable laws or regulations relating to privacy, data protection, or security, our business may be materially and adversely affected and we would likely have to change our business practices and potentially the services and features, integrations or other capabilities of websites. In addition, these laws and regulations could impose significant costs on us and could constrain our ability to use and process data in a commercially desirable manner. In addition, if a breach of data security were to occur or be alleged to have occurred, if any violation of laws and regulations relating to privacy, data protection or data security were to be alleged, or if we were to discover any actual or alleged defect in our safeguards or practices relating to privacy, data protection, or data security, our business websites may be perceived as less desirable and our business, financial condition, results of operations and growth prospects could be materially and adversely affected.

***Online applications are subject to various laws and regulations relating to children's privacy and protection, which if violated, could subject us to an increased risk of litigation and regulatory actions.***

A variety of laws and regulations have been adopted in recent years aimed at protecting children using the internet such as the COPPA and Article 8 of the GDPR. We implement certain precautions to ensure that we do not knowingly collect personal information from children under the age of 13 through our websites. Despite our efforts, no assurances can be given that such measures will be sufficient to completely avoid allegations of COPPA violations, any of which could expose us to significant liability, penalties, reputational harm and loss of revenue, among other things. Additionally, new regulations are being considered in various jurisdictions to require the monitoring of user content or the verification of users' identities and age. Such new regulations, or changes to existing regulations, could increase the cost of our operations.

**Risks Related to Our Business – Our Acquisition Plans**

***As part of our business plan, we intend to acquire or make investments in other companies, or engage in business relationships with other companies, which will divert our management's attention, result in dilution to our stockholders, consume resources that may be necessary to sustain our business and could otherwise disrupt our operations and adversely affect our operating results.***

As part of our business plan, we will plan to acquire or invest in websites, applications and services or technologies that we believe could offer growth opportunities or complement or expand our business or otherwise. The pursuit of target companies will divert the attention of management and cause us to incur various expenses in identifying, investigating and pursuing suitable acquisitions, whether or not they are consummated.

As we acquire additional companies, we may not be able to integrate the acquired personnel, operations and technologies successfully, or effectively manage the combined business following the acquisition. We also may not achieve the anticipated benefits from the acquired business or investments in other companies, due to a number of factors, including:

&nbsp;&nbsp;&nbsp;&nbsp;· inability
 to integrate or benefit from acquired technologies or services in a profitable manner;

&nbsp;&nbsp;&nbsp;&nbsp;· unanticipated
 costs or liabilities associated with the acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;· difficulty
 integrating the accounting systems, operations and personnel of the acquired business;

&nbsp;&nbsp;&nbsp;&nbsp;· difficulty
 converting the customers of the acquired business onto our platform and contract terms, including
 disparities in the revenue, licensing, support or professional services model of the acquired
 company;

&nbsp;&nbsp;&nbsp;&nbsp;· adverse
 effects to our existing business relationships with business partners and customers as a
 result of the acquisition; and

&nbsp;&nbsp;&nbsp;&nbsp;· use
 of substantial portions of our available cash to consummate the acquisition.

In addition, a significant portion of the purchase price of companies we acquire may be allocated to acquired goodwill and other intangible assets, which must be assessed for impairment at least annually. If future acquisitions do not yield expected returns, we may be required to take charges to our operating results based on this impairment assessment process and this could adversely affect our results of operations.

Acquisitions could also result in dilutive issuances of equity securities or the incurrence of debt, which could adversely affect our operating results. In addition, if an acquired business fails to meet our expectations, our operating results, business and financial position may suffer. As of the date of this prospectus, we have no agreements in place to make any acquisitions.

***Pursuant to our long-term investment strategy, we may pursue future acquisitions or business relationships, or make business dispositions that may not be in the best interests of common stockholders in the near term or at all.***

As part of our long term investment strategy, we will plan to acquire or invest in websites, applications and services or technologies that we believe could complement or expand our services or otherwise offer growth opportunities in the long run. We may incur indebtedness for future acquisitions, which would be senior to our common shares. Future acquisitions may also reduce our cash available for distribution to our stockholders, including holders of common shares, following such acquisitions. To the extent such acquisitions do not perform as expected, such risk may be particularly heightened. As of the date of this prospectus, we have no agreements in place to make any acquisitions.

In addition to acquiring businesses, we may sell those companies that we own from time to time when attractive opportunities arise that outweigh the future growth and value that we believe we will be able to bring to such companies consistent with our long-term business and investment strategy. As such, our decision to sell a business will be based on our belief that doing so will increase stockholder value to a greater extent than through our continued ownership of that business. Future dispositions of companies may reduce our cash flows from operations. We cannot assure you that we will use the proceeds from any future dispositions in a manner with which you agree. You will generally not be entitled to vote with respect to our future acquisitions or dispositions, and we may pursue future acquisitions or dispositions with which you do not agree.

***Because of our limited resources and the significant competition for acquisition opportunities, it may be more difficult for us to acquire target companies that meet our acquisition criteria.***

We expect to encounter competition from other companies having a business plan similar to ours, including private investors (which may be individuals or investment partnerships), blank check companies and other entities, domestic and international, competing for the types of companies we intend to acquire. Many of these individuals and entities are well-established and have extensive experience in identifying and effecting, directly or indirectly, acquisitions of companies operating in or providing services to various industries. Many of these competitors possess similar or greater technical, human and other resources to ours or more local industry knowledge than we do and our financial resources will be relatively limited when contrasted with those of many of these competitors. While we believe there are numerous target businesses we could potentially acquire with the net proceeds of this offering, our ability to compete with respect to the acquisition of certain target companies that are attractive to us will be limited by our available financial resources. This inherent competitive limitation gives others an advantage in pursuing the acquisition of certain companies. As of the date of this prospectus, we have no agreements in place to make any acquisitions.

***Subsequent to the acquisition of any target business, we may be required to take write-downs or incur write-offs, restructuring and impairment or other charges that could have a significant negative effect on our financial condition, results of operations and the price of our shares of common stock.***

Even if we conduct extensive due diligence on a target companies that we acquire, we cannot assure you that this diligence will identify all material issues that may be present with a particular target business, that it would be possible to uncover all material issues through a customary amount of due diligence, or that factors outside of the target business and outside of our control will not later arise. As a result of these factors, we may be forced to later write-down or write-off assets or incur impairment or other charges that could result in our reporting losses. Even if our due diligence successfully identifies certain risks, unexpected risks may arise and previously known risks may materialize in a manner not consistent with our preliminary risk analysis. Even though these charges may be non-cash items and not have an immediate impact on our liquidity, the fact that we report charges of this nature could contribute to negative market perceptions about us or our shares of common stock. In addition, charges of this nature may cause us to violate net worth or other covenants to which we may be subject as a result of assuming pre-existing debt held by a target business or by virtue of our obtaining debt financing to partially finance the acquisition transaction or thereafter. Accordingly, we could experience a significant negative effect on our financial condition, results of operations and the price of our shares of common stock. As of the date of this prospectus, we have no agreements to make any acquisitions.

 ****

***We will likely not obtain an opinion from an independent accounting or investment banking firm in connection with the acquisition of a target business.***

We will likely not obtain an opinion from an independent accounting firm or independent investment banking firm that the price we are paying for a target business is fair to our stockholders. If no opinion is obtained, our stockholders will be relying on the judgment of our board of directors ("Board"), who will determine fair market value based on standards generally accepted by the financial community.

***Our resources could be wasted by acquisition transactions that are not completed.***

We anticipate that the investigation of each target business and the negotiation, drafting and execution of relevant agreements, disclosure documents and other instruments will require management time and attention and costs for accountants, attorneys and others. If we decide not to complete a specific acquisition transaction, the costs incurred up to that point for the proposed transaction likely would not be recoverable. Furthermore, if we reach an agreement relating to a specific target business, we may fail to complete our acquisition transaction for any number of reasons including those beyond our control. Any such event will result in a loss to us of the related costs incurred. As of the date of this prospectus, we have no agreements in place to make any acquisitions.

***The officers and directors of a target business may resign upon completion of our acquisition. The loss of a target business key personnel could negatively impact the operations and profitability of the target business post-acquisition.***

Although we contemplate that certain members of a target business' management team will remain associated with the target business following our acquisition transaction, it is possible that members of the management of a target business will not remain in place. The loss of a target business' key personnel could negatively impact the operations and profitability of the target business post-acquisition. As of the date of this prospectus, we have no agreements in place to make any acquisitions.

**Risks Related to Our Business – Industry Changes and Technology Developments**

***If we fail to keep pace with changing technologies, we may lose clients.***

Our market is characterized by rapidly changing client requirements and evolving technologies and industry standards. If we cannot keep pace with these changes, our business could suffer. To achieve our goals, we need to continue to develop strategic business solutions and to develop and integrate proprietary applications for use in our various facilities in order to keep pace with continuing changes in client expectations, information technologies and industry standards. If we are unable to keep pace with changing technologies, we may lose clients and our revenues and results of operations could be adversely affected.

***Our clients may adopt technologies that decrease the demand for our services, which could adversely affect our revenues and results of operations.***

We target clients with a particular need for our services. However, after we complete an engagement, our clients may adopt new technologies or implement various processes that automate a portion of the services which we offer and thereby substantially reduce their need for our services. The adoption of such technologies or processes could place negative pressure on our pricing and adversely affect our revenues and result of operations.

***We may be liable to our clients for damages caused by system failures, which could damage our reputation and cause us to lose clients.***

Many of our contracts involve services that are critical to the operations of our clients' businesses, and provide benefits which may be difficult to quantify. Any failure in a client's system or breaches of security could result in a claim for substantial damages against us, regardless of our responsibility for such failure. Our exposure to legal liability may be increased in the case of outsourcing contracts in which we become more involved in our clients' operations. Although we attempt to limit our contractual liability for consequential damages in rendering our services, we cannot assure you that the limitations on liability we typically provide for in our service contracts will be enforceable, or that they will otherwise be sufficient to protect us from liability for damages. The general liability insurance coverage that we maintain is subject to important exclusions and limitations. We cannot assure you that such coverage will continue to be available on reasonable terms or will be available in sufficient amounts to cover one or more large claims, or that the insurer will not disclaim coverage as to any future claim. A successful assertion of one or more large claims against us that exceeds our available insurance coverage or changes in our insurance policies, including premium increases or the imposition of a large deductible or co-insurance requirement, could adversely affect our results of operations.

***If we are unable to apply technology effectively in driving value for our clients through technology-based solutions or gain internal efficiencies and effective internal controls through the application of technology and related tools, our operating results, client relationships, growth and compliance programs could be adversely affected.***

Our future success depends, in part, on our ability to anticipate and respond effectively to the threat and opportunity presented by new technology disruption and developments. These may include new software applications or related services based on artificial intelligence, machine learning, or robotics. We may be exposed to competitive risks related to the adoption and application of new technologies by established market participants or new entrants, start-up companies and others. These new entrants are focused on using technology and innovation, including artificial intelligence to simplify and improve the client experience, increase efficiencies, alter business models and effect other potentially disruptive changes in the industries in which we operate. We must also develop and implement technology solutions and technical expertise among our employees that anticipate and keep pace with rapid and continuing changes in technology, industry standards, client preferences and internal control standards. We may not be successful in anticipating or responding to these developments on a timely and cost-effective basis and our ideas may not be accepted in the marketplace. Additionally, the effort to gain technological expertise and develop new technologies in our business requires us to incur significant expenses. If we cannot offer new technologies as quickly as our competitors, or if our competitors develop more cost-effective technologies or product offerings, we could experience a material adverse effect on our operating results, client relationships, growth and compliance programs.

***If our future products incorporate technologies that may infringe the proprietary rights of third parties, and we do not secure licenses from them, we could be liable for substantial damages.***

We are not aware that our current products infringe the intellectual property rights of any third parties. We also are not aware of any third-party intellectual property rights that may hamper our ability to provide future products and services. However, we recognize that the development of our services or products may require that we acquire intellectual property licenses from third parties to avoid infringement of those parties' intellectual property rights. These licenses may not be available at all or may only be available on terms that are not commercially reasonable. If third parties make infringement claims against us whether or not they are upheld, such claims could:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· consume substantial time and financial resources;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· divert the attention of management from growing our business and managing operations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· disrupt product sales and shipments.

If any third party prevails in an action against us for infringement of its proprietary rights, we could be required to pay damages and either enter into costly licensing arrangements or redesign our products so as to exclude any infringing use. As a result, we would incur substantial costs, delays in product development, sales and shipments, and our revenues may decline substantially. Additionally, we may not be able to achieve the minimum necessary growth for our continued success.

***We are dependent on the continued availability of third-party data hosting and transmission services.***

Although we develop and operate our own phone switch, we rely on third parties for hosting and other transmission services. As such, a significant portion of our operating cost is from our third-party data hosting and transmission services. If the costs for such services increase due to vendor consolidation, regulation, contract renegotiation, or otherwise, we may not be able to increase the fees for our inbound platform or services to cover the changes. As a result, our operating results may be significantly worse than forecasted.

**Risks Related to the Offering and Our Common Stock**

***A sustained, active trading market for our common stock may not develop or be maintained which may limit investors' ability to sell shares at all or at an acceptable price.***

As we are in our early stage of development, an investment in our Company will likely require a long-term commitment, with no certainty of return. There is currently no trading market for our common stock and we cannot predict whether an active market for our shares of common stock will ever develop or be sustained in the future. In the absence of an active trading market:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· investors may have difficulty buying and selling or obtaining market quotations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· market visibility for our common stock may be limited; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· a lack of visibility for our common stock may have a depressive effect on the market price for
 our common stock.

The lack of an active market impairs your ability to sell your shares of common stock at the time you wish to sell them or at a price that you consider reasonable. The lack of an active market may also reduce the fair market value of your shares of common stock. An inactive market may also impair our ability to raise capital to continue to fund operations by selling shares of common stock and may impair our ability to acquire additional assets by using our shares of common stock as consideration.

***The price of our common stock may fluctuate substantially.***

You should consider an investment in our common stock to be risky, and you should invest in our common stock only if you can withstand a significant loss and wide fluctuations in the market value of your investment. Some factors that may cause the market price of our common stock to fluctuate, in addition to the other risks mentioned in this "Risk Factors" section and elsewhere in this prospectus, are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· sale of our common stock by our stockholders, executives, and directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· volatility and limitations in trading volumes of our shares of common stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· our ability to obtain financing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the timing and success of introductions of new products by us or our
 competitors or any other change in the competitive dynamics of our business' industries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· our ability to attract new customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· changes in our capital structure or dividend policy, future issuances
 of common stock, sales of large blocks of common stock by our stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· our cash position;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· announcements and events surrounding financing efforts, including debt
 and equity securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· our inability to enter into new markets or develop new products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· reputational issues;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· announcements of acquisitions, partnerships, collaborations, joint
 ventures, new products, capital commitments, or other events by us or our competitors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· changes in general economic, political and market conditions in any
 of the regions in which we conduct our business, including, without limitation, the effect on the global economy and financial markets
 due to the current or anticipated impact of military conflict and related sanctions imposed on Russia by the United States and other
 countries due to Russia's recent invasion of Ukraine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· changes in industry conditions or perceptions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· analyst research reports, recommendation and changes in recommendations,
 price targets, and withdrawals of coverage;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· departures and additions of key personnel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· disputes and litigations related to intellectual properties, proprietary rights, and contractual
 obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· changes in applicable laws, rules, regulations, or accounting practices and other dynamics; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· other events or factors, many of which may be out of our control.

In addition, if the market for equities in our industry or industries related to our industry, or the stock market in general, experiences a loss of investor confidence, the trading price of our common stock could decline for reasons unrelated to our business, financial condition and results of operations. If any of the foregoing occurs, it could cause our stock price to fall and may expose us to lawsuits that, even if unsuccessful, could be costly to defend and a distraction to management.

***Our common stock's market price may experience rapid and substantial volatility price fluctuations.***

 ****

After this offering, the market price for our common stock is likely to be volatile, in part because our shares have not been traded publicly. In addition, the market price of our common stock may fluctuate significantly in response to several factors, most of which we cannot control, including:

● actual or anticipated variations in our periodic operating results;

● increases in market interest rates that lead investors of our common stock to demand a higher investment return; stock-run up;

● changes in earnings estimates;

● changes in market valuations of similar companies;

● actions or announcements by our competitors;

● adverse market reaction to any increased indebtedness we may incur in the future;

● additions or departures of key personnel;

● actions by stockholders;

● speculation in the media, online forums, or investment community; and

● our intentions and ability to list our common stock on Nasdaq and our subsequent ability to maintain such listing.

The public offering price of our common stock has been determined by negotiations between us and the underwriter based upon many factors and may not be indicative of prices that will prevail following the closing of this offering. In addition, the stock market in general, and the stock of early-stage companies like ours in particular, has experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of these companies. Such rapid and substantial price volatility, including any stock run-up, may be unrelated to our actual or expected operating performance, financial condition or prospects, making it difficult for investors to assess the rapidly changing value of our stock. Volatility in the market price of our common stock may prevent investors from being able to sell their common stock at or above the initial public offering price.

***There is an increased potential risk for new public companies similar to ours of rapid and substantial price volatility which may add to the risk of investing in this offering.***

 ****

Further, there have been recent instances of extreme stock price run-ups followed by rapid price declines and stock price volatility seemingly unrelated to company performance following a number of recent initial public offerings, particularly among companies with relatively smaller public floats. Additionally, our common stock may be subject to rapid and substantial price volatility, including any stock-run up, which may be unrelated to our actual or expected operating performance and financial condition or prospects, making it difficult for prospective investors to assess the rapidly changing value of our common shares. As a result, you may suffer a loss on your investment.

 ****

***The initial public offering price of the shares of common stock may not be indicative of the value of our assets or the price at which your shares can be resold. The initial public offering price of the shares of common stock may not be an indication of our actual value.***

Prior to this offering, there has been no public market for our shares of common stock. The initial public offering price of each share will be determined based upon negotiations between the underwriters and us. Factors considered in determining such price in addition to prevailing market conditions will include an assessment of our future prospects, an increase in value of our common stock due to becoming a public company and prior valuations of our shares of common stock prepared for us. Such price does not have any relationship to any established criteria of value, such as book value or earnings per share. Such price may not be indicative of the current market value of our assets. No assurance can be given that our shares of common stock can be resold at or above the initial public offering price. In the past, following periods of volatility in the market price of a public company's securities, securities class action litigation has often been instituted against the public company. Regardless of its outcome, this type of litigation could result in substantial costs to us and a likely diversion of our management's attention. You may not receive a positive return on your investment when you sell your shares and you may lose the entire amount of your investment.

***Investors in this offering will experience immediate and substantial dilution in the net tangible book value per share of common stock.***

You will incur immediate and substantial dilution as a result of this offering. After giving effect to the sale by us of an assumed 2,142,858 shares of common stock based on an assumed initial public offering price between $7 and $9 per share, and after deducting the underwriter's discounts and commissions and estimated offering expenses payable by us, investors in this offering can expect an immediate dilution of $5.24 per share. Accordingly, should we be liquidated at our book value, you would not receive the full amount of your investment.

***We have broad discretion in the use of the net proceeds from this offering and may not use them effectively.***

Our management will have broad discretion in the application of the net proceeds from this initial public offering, including for any of the currently intended purposes described in the section entitled "*Use of Proceeds*." Because of the number and variability of factors that will determine our use of the net proceeds from this offering, their ultimate use may vary substantially from their currently intended use. Our management may not apply our cash from this offering in ways that ultimately increase the value of any investment in our shares of common stock or enhance stockholder value. The failure by our management to apply these funds effectively could harm our business. Pending their use, we may invest the net proceeds from this offering in short-term, investment-grade, interest-bearing securities. These investments may not yield a favorable return to our stockholders. If we do not invest or apply our cash in ways that enhance stockholder value, we may fail to achieve expected financial results, which may result in a decline in the price of our shares of common stock, and, therefore, may negatively impact our ability to raise capital, invest in or expand our business, acquire additional products or licenses, commercialize our products, or continue our operations.

***There is no established trading market for our shares of common stock; further, our common stock will be subject to potential delisting if we do not maintain compliance with the listing requirements of The Nasdaq Capital Market.***

This offering constitutes our initial public offering of 2,142,858 shares of common stock. No public market for these shares of common stock currently exists. We are seeking to list the shares of our common stock on Nasdaq. An approval of our listing application by The Nasdaq Stock Market LLC will be subject to, among other things, our fulfilling all of the listing requirements of Nasdaq. Even if our shares of common stock are listed on Nasdaq, there can be no assurance that an active trading market for our shares of common stock will develop or be sustained after this offering is completed. The initial public offering price has been determined by negotiations among the underwriter and us. Among the factors considered in determining the initial public offering price were our future prospects and the prospects of our industry in general, our revenue, net income and certain other financial and operating information in recent periods, and the financial ratios, market prices of securities and certain financial and operating information of companies engaged in activities similar to ours. However, we cannot assure you that following this offering our common stock will trade at a price equal to or greater than the initial public offering price.

In addition, The Nasdaq Stock Market LLC maintains rules for continued listing, including, without limitation, minimum market capitalization and other requirements. Failure to maintain our listing, or de-listing from Nasdaq, would make it more difficult for stockholders to dispose of our shares of common stock and more difficult to obtain accurate price quotations on our shares of common stock. This could have an adverse effect on the price of our common stock. Our ability to issue additional securities for financing or other purposes, or otherwise to arrange for any financing we may need in the future, may also be materially and adversely affected if our common stock and/or other securities are not traded on a national securities exchange.

***If research analysts do not publish research about our business or if they issue unfavorable commentary or downgrade our common stock, our common stock price and trading volume could decline.***

The trading market for our shares of common stock may depend in part on the research and reports that research analysts publish about us and our business. If we do not maintain adequate research coverage, or if any of the analysts who cover us downgrade our stock or publish inaccurate or unfavorable research about our business, the price of our common stock could decline. If one or more of our research analysts ceases to cover our business or fails to publish reports on us regularly, demand for our common stock could decrease, which could cause the price of our common stock or trading volume to decline.

***We may issue additional shares of common stock or other equity securities, or engage in other transactions that could dilute our book value or relative rights of our common stock, which may adversely affect the market price of our common stock and further dilute existing shareholders.***

We may determine, from time to time, that we need to raise additional capital by issuing additional shares of our common stock or other securities. Except as otherwise described in this prospectus, we will not be restricted from issuing additional common stock, including securities that are convertible into or exchangeable for, or that represent the right to receive, shares of our common stock. Because our decision to issue securities in any future offering will depend on market conditions and other factors beyond our control, we cannot predict or estimate the amount, timing, or nature of any future offerings, or the prices at which such offerings may be affected. Additional equity offerings may dilute the holdings of existing stockholders or reduce the market price of our common stock, or all of them. Holders of our securities are not entitled to pre-emptive rights or other protections against dilution. New investors also may have rights, preferences and privileges that are senior to, and that adversely affect, then-current holders of our securities. Additionally, if we raise additional capital by making offerings of debt or preferred shares, upon our liquidation, holders of our debt securities and preferred shares, and lenders with respect to other borrowings, may receive distributions of its available assets before the holders of our common stock.

***The ability of a stockholder to recover all or any portion of such stockholder's investment in the event of a dissolution or termination may be limited.***

In the event of a dissolution or termination of our Company, the proceeds realized from the liquidation of the assets of our Company, or our subsidiaries will be distributed among the common stockholders, but only after the satisfaction of the claims of third-party creditors of our Company. The ability of a common stockholder to recover all or any portion of such stockholder's investment under such circumstances will, accordingly, depend on the amount of net proceeds realized from such liquidation and the amount of claims to be satisfied therefrom. There can be no assurance that our Company will recognize gains on such liquidation, nor is there any assurance that common stockholders will receive a distribution in such a case.

***We do not anticipate paying any cash dividends on our common stock in the foreseeable future and, as such, capital appreciation, if any, of our common stock will be your sole source of gain for the foreseeable future.***

We do not anticipate paying any cash dividends on our common stock for the foreseeable future. Our Company has never declared any cash dividends on its common stock.

In addition, and any future loan arrangements we enter into may contain terms prohibiting or limiting the amount of dividends that may be declared or paid on our common stock. As a result, capital appreciation, if any, of our common stock will be your sole source of gain for the foreseeable future.

***We are an "emerging growth company" and are able to avail ourselves of reduced disclosure requirements applicable to emerging growth companies, which could make our common stock less attractive to investors.***

We are an "emerging growth company," as defined in the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"), and we have elected to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging growth companies" including not being required to comply with the auditor attestation requirements of Section 404(b) of the Sarbanes-Oxley Act of 2002 ("Sarbanes-Oxley"), reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. In addition, pursuant to Section 107 of the JOBS Act, as an "emerging growth company" we have elected to take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act, for complying with 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. As such, our financial statements may not be comparable to companies that comply with public company effective dates.

We cannot predict if investors will find our common stock less attractive because we may rely on these exemptions. If some investors find our common stock less attractive as a result, there may be a less active trading market for our common stock and our stock price may be more volatile. We may take advantage of these reporting exemptions until we are no longer an "emerging growth company." We will remain an "emerging growth company" until the earliest of (i) the last day of the fiscal year in which we have total annual gross revenues of $1.235 billion or more; (ii) the last day of our fiscal year following the fifth anniversary of the date of the completion of this offering; (iii) the date on which we have issued more than $1 billion in nonconvertible debt during the previous three years; or (iv) the date on which we are deemed to be a large accelerated filer under the rules of the SEC.

***Financial reporting obligations of being a public company are expensive and time-consuming, and our management will be required to devote substantial time to compliance matters.***

As a publicly traded company, we will incur significant additional legal, accounting and other expenses that we did not incur as a privately company. The obligations of being a public company require significant expenditures and will place significant demands on our management and other personnel, including costs resulting from public company reporting obligations under the Exchange Act and the rules and regulations regarding corporate governance practices, including those under Sarbanes-Oxley, the Dodd-Frank Wall Street Reform and Consumer Protection Act, and the listing requirements of the stock exchange on which our common stock is listed. These rules require the establishment and maintenance of effective disclosure and financial controls and procedures, internal control over financial reporting and changes in corporate governance practices, among many other complex rules that are often difficult to implement, monitor and maintain compliance with. Moreover, despite recent reforms made possible by the JOBS Act, the reporting requirements, rules, and regulations will make some activities more time-consuming and costly, particularly after we are no longer an "emerging growth company." In addition, we expect these rules and regulations to make it more difficult and more expensive for us to obtain director and officer liability insurance. Our management and other personnel will need to devote a substantial amount of time to ensure that we comply with all of these requirements and to keep pace with new regulations, otherwise we may fall out of compliance and risk becoming subject to litigation or being delisted, among other potential problems.

***If we fail to comply with the rules under Sarbanes-Oxley related to accounting controls and procedures in the future, or, if we discover material weaknesses and other deficiencies in our internal control and accounting procedures, our stock price could decline significantly and raising capital could be more difficult.***

Section 404 of Sarbanes-Oxley requires annual management assessments of the effectiveness of our internal control over financial reporting. If we fail to comply with the rules under Sarbanes-Oxley related to disclosure controls and procedures in the future, or, if we discover material weaknesses and other deficiencies in our internal control and accounting procedures, our stock price could decline significantly and raising capital could be more difficult. If material weaknesses or significant deficiencies are discovered or if we otherwise fail to achieve and maintain the adequacy of our internal control, we may not be able to ensure that we can conclude on an ongoing basis that we have effective internal controls over financial reporting in accordance with Section 404 of Sarbanes-Oxley. Moreover, effective internal controls are necessary for us to produce reliable financial reports and are important to helping prevent financial fraud. If we cannot provide reliable financial reports or prevent fraud, our business and operating results could be harmed, investors could lose confidence in our reported financial information, and the trading price of our common stock could drop significantly.

***We have identified weaknesses in our internal controls, and we cannot provide assurances that these weaknesses will be effectively remediated or that additional material weaknesses will not occur in the future.***

As a public company, we will be subject to the reporting requirements of the Exchange Act, and the Sarbanes-Oxley Act. We expect that the requirements of these rules and regulations will continue to increase our legal, accounting and financial compliance costs, make some activities more difficult, time consuming and costly, and place significant strain on our personnel, systems and resources.

The Sarbanes-Oxley Act requires, among other things, that we maintain effective disclosure controls and procedures, and internal control over financial reporting.

We do not yet have effective disclosure controls and procedures, or internal controls over all aspects of our financial reporting. We are continuing to develop and refine our disclosure controls and other procedures that are designed to ensure that information required to be disclosed by us in the reports that we will file with the SEC is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Our management has deemed certain conditions to be material weaknesses and significant deficiencies in our internal controls. For example, we failed to employ a sufficient number of staff to maintain optimal segregation of duties and to provide optimal levels of oversight and we rely upon a third-party accounting firm to assist us with generally accepted in the United States of America ("GAAP") compliance. Our management is responsible for establishing and maintaining adequate internal control over our financial reporting, as defined in Rule 13a-15(f) under the Exchange Act. We will be required to expend time and resources to further improve our internal controls over financial reporting, including by expanding our staff. However, we cannot assure you that our internal control over financial reporting, as modified, will enable us to identify or avoid material weaknesses in the future.

Our current controls and any new controls that we develop may become inadequate because of changes in conditions in our business, including increased complexity resulting from our international expansion. Further, weaknesses in our disclosure controls or our internal control over financial reporting may be discovered in the future. Any failure to develop or maintain effective controls, or any difficulties encountered in their implementation or improvement, could harm our operating results or cause us to fail to meet our reporting obligations and may result in a restatement of our financial statements for prior periods. Any failure to implement and maintain effective internal control over financial reporting could also adversely affect the results of management reports and independent registered public accounting firm audits of our internal control over financial reporting that we will eventually be required to include in our periodic reports that will be filed with the SEC. Ineffective disclosure controls and procedures, and internal control over financial reporting could also cause investors to lose confidence in our reported financial and other information, which would likely have a negative effect on the market price of our common stock.

We are not currently required to comply with the SEC rules that implement Section 404 of the Sarbanes-Oxley Act, and are therefore not required to make a formal assessment of the effectiveness of our internal control over financial reporting for that purpose. As a public company, we will be required to provide an annual management report on the effectiveness of our internal control over financial reporting commencing with our second annual report on Form 10-K. Our independent registered public accounting firm is not required to audit the effectiveness of our internal control over financial reporting until after we are no longer an "emerging growth company" as defined in the JOBS Act. At such time, our independent registered public accounting firm may issue a report that is adverse in the event it is not satisfied with the level at which our internal control over financial reporting is documented, designed or operating.

Any failure to maintain effective disclosure controls and internal control over financial reporting could have a material and adverse effect on our business and operating results, and cause a decline in the market price of our common stock.

***Future sales of a substantial number of our common stock by our existing stockholders could cause our stock price to decline.***

We will have a significant number of restricted common stock that will become eligible for sale shortly after this registration statement is declared effective. Prior to the consummation of this offering, we will have 3,232,429 shares of our common stock outstanding. Upon consummation of this offering, we will have issued 5,375,287 shares of our common stock (or 5,696,716 shares if the underwriters exercise their over-allotment option in full to purchase 321,429 additional shares of common stock at the initial public offering price), based on an assumed initial public offering price between $7 and $9 per share of common stock. All of the shares sold in this offering will be eligible for sale immediately upon effectiveness of this registration statement.

***Future sales and issuances of our common stock or rights to purchase common stock, including pursuant to an equity incentive plan could result in additional dilution of the percentage ownership of our stockholders and could cause our stock price to fall.***

We expect that significant additional capital may be needed in the future to continue our planned operations, including acquiring additional companies, marketing activities and costs associated with operating a public company. To raise capital, we may sell common stock, convertible securities or other equity securities in one or more transactions at prices and in a manner we determine from time to time. If we sell common stock, convertible securities or other equity securities, investors may be materially diluted by subsequent sales. Such sales may also result in material dilution to our existing stockholders, and new investors could gain rights, preferences and privileges senior to the holders of our common stock, including shares of common stock sold in this offering.

***Potential comprehensive tax reform bills could adversely affect our business and financial condition.***

The U.S. government may enact comprehensive federal income tax legislation that could include significant changes to the taxation of business entities. These changes include, among others, a permanent increase to the corporate income tax rate. The overall impact of this potential tax reform is uncertain, and our business and financial condition could be adversely affected. This prospectus does not discuss any such tax legislation or the manner in which it might affect purchasers of our common stock. We urge our stockholders to consult with their legal and tax advisors with respect to any such legislation and the potential tax consequences of investing in our common stock.

***Our principal stockholders and management own a significant percentage of our stock and will be able to exert significant control over matters subject to stockholder approval.***

Our directors, executive officers and each of our stockholders who owned greater than 5% of our outstanding common stock beneficially, as of the date of this prospectus, own approximately 49.6% of our common stock outstanding immediately before this offering and 49.6% of our common stock outstanding immediately after this offering stock. Accordingly, these stockholders have and will continue to have significant influence over the outcome of corporate actions requiring stockholder approval, including the election of directors, a merger, the consolidation or sale of all or substantially all of our assets or any other significant corporate transaction. The interests of these stockholders may not be the same as or may even conflict with our other investors' interests. For example, these stockholders could delay or prevent a change in control of us, even if such a change in control would benefit our other stockholders, which could deprive our stockholders of an opportunity to receive a premium for their common stock as part of a sale of our Company or our assets. The significant concentration of stock ownership may negatively impact the value of our common stock due to potential investors' perception that conflicts of interest may exist or arise.

***Our common stock may be subject to the "penny stock" rules in the future. It may be more difficult to resell securities classified as "penny stock."***

Our common stock may be subject to "penny stock" rules (generally defined as non-exchange traded stock with a per share price below $5.00) in the future. While our common stock will not be considered a "penny stock" following this offering since they will be listed on the Nasdaq Capital Market, if we are unable to maintain that listing and our common stock is no longer listed on the Nasdaq Capital Market, unless we maintain a per share price above $5.00, our common stock will become a "penny stock." These rules impose additional sales practice requirements on broker-dealers that recommend the purchase or sale of penny stocks to persons other than those who qualify as "established customers" or "accredited investors." For example, broker-dealers must determine the appropriateness for non-qualifying persons of investments in penny stocks. Broker-dealers must also provide, prior to a transaction in a penny stock not otherwise exempt from the rules, a standardized risk disclosure document that provides information about penny stocks and the risks in the penny stock market. The broker-dealer also must provide the customer with current bid and offer quotations for the penny stock, disclose the compensation of the broker-dealer and its salesperson in the transaction, furnish monthly account statements showing the market value of each penny stock held in the customer's account, provide a special written determination that the penny stock is a suitable investment for the purchaser, and receive the purchaser's written agreement to the transaction.

Legal remedies available to an investor in "penny stocks" may include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· If a "penny stock" is sold to the investor in violation
 of the requirements listed above, or other federal or states securities laws, the investor may be able to cancel the purchase and
 receive a refund of the investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· If a "penny stock" is sold to the investor in a fraudulent
 manner, the investor may be able to sue the persons and firms that committed the fraud for damages.

These requirements may have the effect of reducing the level of trading activity, if any, in the secondary market for a security that becomes subject to the penny stock rules. The additional burdens imposed upon broker-dealers by such requirements may discourage broker-dealers from effecting transactions in our common stock, which could severely limit the market price and liquidity of our common stock. These requirements may restrict the ability of broker-dealers to sell our common stock and may affect your ability to resell our common stock.

Many brokerage firms will discourage or refrain from recommending investments in penny stocks. Most institutional investors will not invest in penny stocks. In addition, many individual investors will not invest in penny stocks due, among other reasons, to the increased financial risk generally associated with these investments.

For these reasons, penny stocks may have a limited market and, consequently, limited liquidity. We can give no assurance at what time, if ever, our common stock will not be classified as a "penny stock" in the future.

***We will likely be considered a smaller reporting company and will be exempt from certain disclosure requirements, which could make our common stock less attractive to potential investors.***

Rule 12b-2 of the Exchange Act, defines a "smaller reporting company" as an issuer that is not an investment company, an asset-backed issuer, or a majority-owned subsidiary of a parent that is not a smaller reporting company and that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· had a public float of less than $250 million as of the last business
 day of its most recently completed second fiscal quarter, computed by multiplying the aggregate worldwide number of shares of its
 voting and non-voting common equity held by non-affiliates by the price at which the common equity was last sold, or the average
 of the bid and asked prices of common equity, in the principal market for the common equity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· in the case of an initial registration statement under the Securities
 Act or the Exchange Act for shares of its common equity, had a public float of less than $250 million as of a date within 30 days
 of the date of the filing of the registration statement, computed by multiplying the aggregate worldwide number of such shares held
 by non-affiliates before the registration plus, in the case of a Securities Act registration statement, the number of such shares
 included in the registration statement by the estimated initial public offering price of the shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· in the case of an issuer whose public float was zero, had annual revenues
 of less than $100 million during the most recently completed fiscal year for which audited financial statements are available.

As a smaller reporting company, we would not be required and may not include a Compensation Discussion and Analysis section in our proxy statements; we would provide only two years of financial statements; and we would not need to provide the table of selected financial data. We also would have other "scaled" disclosure requirements that are less comprehensive than issuers that are not smaller reporting companies which could make our common stock less attractive to potential investors, and also could make it more difficult for our stockholders to sell their shares.

***Changes in accounting principles and guidance, or their interpretation, could result in unfavorable accounting changes or effects, including changes to our previously filed financial statements, which could cause our stock price to decline.***

We prepare our financial statements in accordance with GAAP. These principles are subject to interpretation by the SEC and various bodies formed to interpret and create appropriate accounting principles and guidance. A change in these principles or guidance, or in their interpretations, may have a significant effect on our reported results and retroactively affect previously reported results.

***Mr. Podolak and Mr. Sposato will control all matters that come before the stockholders for a vote and thus we are a "controlled company" within the meaning of the Nasdaq listing requirements and, as a result, the Company will qualify for exemptions from certain corporate governance requirements. If we take advantage of such exemptions, you will not have the same protections afforded to stockholders of companies that are subject to such corporate governance requirements.***

 ****

As of the date of this prospectus, Mr. Podolak and Mr. Sposato will have voting control with respect to director elections and all other matters. Subject to any fiduciary duties owed to other stockholders under Wyoming law, Mr. Podolak and Mr. Sposato will be able to control all matters requiring approval by our stockholders, including the election and removal of directors and any proposed merger, acquisition, consolidation or sale of all or substantially all of our assets. In addition, due to their significant ownership stake and their service as Chief Executive Officer and Chief Technology Officer, Mr. Podolak and Mr. Sposato control the management of our business and affairs. Mr. Podolak and Mr. Sposato may have interests that are different than yours and may support proposals and actions with which you may disagree. This concentration of ownership could have the effect of delaying, deferring or preventing a change in control, or impeding a merger or consolidation, takeover or other business combination that could be favorable to our other stockholders and adversely affecting the market price of our common stock.

Due to the amount of common and preferred stock that Mr. Podolak and Mr. Sposato each own independently, we are considered a "controlled company" for the purposes of the listing requirements of the Nasdaq. A controlled company is not required to have a majority of independent directors or form an independent compensation or nominating and corporate governance committee. Nevertheless, we have a majority of independent directors who will serve on our audit, compensation and nominating and corporate governance committees. However, although we have no current plans to do so, for as long as we remain a controlled company, we could take advantage of such exemptions in the future.

**CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS**

This prospectus contains forward-looking statements. These forward-looking statements contain information about our expectations, beliefs or intentions regarding our product development and commercialization efforts, business, financial condition, results of operations, strategies or prospects, and other similar matters. These forward-looking statements are based on management's current expectations and assumptions about future events, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. These statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning.

These statements relate to future events or our future operational or financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed under the section entitled "*Risk Factors*" and elsewhere in this prospectus, in any related prospectus supplement and in any related free writing prospectus.

Any forward-looking statement in this prospectus, in any related prospectus supplement and in any related free writing prospectus reflects our current view with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our business, results of operations, industry and future growth. Given these uncertainties, you should not place undue reliance on these forward-looking statements. No forward-looking statement is a guarantee of future performance. You should read this prospectus, any related prospectus supplement and any related free writing prospectus and the documents that we reference herein and therein and have filed as exhibits hereto and thereto completely and with the understanding that our actual future results may be materially different from any future results expressed or implied by these forward-looking statements. Except as required by law, we assume no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.

This prospectus, any related prospectus supplement and any related free writing prospectus also contain or may contain estimates, projections and other information concerning our industry, our business and the markets for our products, including data regarding the estimated size of those markets and their projected growth rates. Information that is based on estimates, forecasts, projections or similar methodologies is inherently subject to uncertainties and actual events or circumstances may differ materially from events and circumstances reflected in this information. Unless otherwise expressly stated, we obtained these industry, business, market and other data from reports, research surveys, studies and similar data prepared by third parties, industry and general publications, government data and similar sources. In some cases, we do not expressly refer to the sources from which these data are derived.

**USE OF PROCEEDS**

We estimate that the net proceeds from the sale of common stock will be approximately $15,642,864, or approximately $17,989,295 if the underwriter exercises in full its over-allotment option, based on an assumed initial public offering price between $7 and $9 per share, which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus, after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us and assuming no exercise of any Representative's Warrants.

Each $1.00 increase (decrease) in the assumed initial public offering price between $7 and $9 per common share would increase (decrease) the net proceeds to us from this offering by approximately $1,928,572 million, or approximately $2,217,858 million if the underwriter exercises its over-allotment option in full, assuming the number of shares offered by us, as set forth on the cover page of this prospectus, remain the same and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us, and assuming no exercise of any Representative's Warrants. Similarly, each increase or decrease of 100 shares of common stock offered by us in this offering would increase or decrease the net proceeds to us by approximately $90.00, assuming that the assumed initial price to the public remains the same, and after deducting underwriting discounts and commissions payable by us.

We intend to use the net proceeds from this offering for acquisition of websites, technologies, or other assets, building an improved switch, for expanding product offering from other digital channels, sales and marketing, working capital and general other corporate purposes. The expected use of net proceeds of this offering represents our current intentions based upon our present plan and business conditions. As of the date of this prospectus, we cannot specify with certainty all of the particular uses for the net proceeds to be received upon the completion of this offering. The amounts and timing of our actual use of net proceeds will vary depending on numerous factors. As a result, our management will have broad discretion in the application of the net proceeds, and investors will be relying on our judgment regarding the application of the net proceeds of this offering.

We currently estimate that we will allocate our use of the net proceeds from this offering as follows: $1,000,000 to build an improved switch; $5,000,000 to expand product offerings from other digital channels; $6,000,000 for acquisitions of websites, technologies, or other assets (as of the date of this prospectus, we have no agreements in place to make any acquisitions); and $3,642,864 for sales and marketing, working capital and general corporate purposes. We have presumed that we will receive aggregate gross proceeds of approximately $17,142,864 million and deducted approximately $1,500,000 million payable in fees, which include offering costs, commissions and expenses.

We do not anticipate using any proceeds from this initial public offering to repay debt or retire any existing liabilities. The repayment of any existing debt, including notes, and other liabilities would come only from our regular budget and operations.

The use of the proceeds represents our management's estimates based upon current business and economic conditions. We reserve the right to use the net proceeds we receive in the offering in any manner we consider to be appropriate. Although the Company does not contemplate changes in the proposed use of proceeds, to the extent we find that adjustment is required for other uses by reason of existing business conditions, the use of proceeds may be adjusted. The actual use of the proceeds of this offering could differ materially from those outlined above as a result of several factors including those set forth under "*Risk Factors*" and elsewhere in this prospectus.

Pending the use of the net proceeds of this offering, we intend to invest the net proceeds in short-term investment-grade, interest-bearing securities.

The Company estimates that it may use up to $1,500,000 from the gross proceeds raised from this offering to pay the total fees , commissions, expenses and other costs associated with this offering (including, but not limited, to the: underwriting fees and commissions, SEC registration fee, FINRA filing fee, Nasdaq Capital Market initial listing fee, accounting fees and expenses, legal fees and expenses, printing fees and expenses, and other miscellaneous fees).

**DIVIDEND POLICY**

We have never paid or declared any cash dividends on our common stock, and we do not anticipate paying any cash dividends on our common stock in the foreseeable future. Any future determination to pay dividends will be at the discretion of our Board and will depend upon a number of factors, including our results of operations, financial condition, future prospects, contractual restrictions, restrictions imposed by applicable law and other factors our Board deems relevant.

**CAPITALIZATION**

The following table sets forth our cash and capitalization as of September 30, 2022 on:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· an actual basis; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· on an as adjusted basis to reflect the sale by us of assumed shares
 at an assumed combined initial public offering price between $7 and $9 per share, which is the midpoint of the price range set
 forth on the cover page of this prospectus, after deducting the underwriting discounts and commissions and estimated offering costs
 payable by us.

The information in this table is unaudited and is illustrative only and our capitalization following the completion of this offering will be adjusted based on the actual initial public offering price and other terms of this offering determined at pricing. You should read this table in conjunction with the information contained in "*Use of Proceeds*," "*Summary Financial Data*" and "*Management's Discussion and Analysis of Financial Condition and Results of Operation*," as well as the financial statements and the notes included elsewhere in this prospectus.

---

| | | |
|:---|:---|:---|
|  | **As of September**<br> **30, 2022** | **As of September**<br> **30, 2022** |
|  | **Actual** | **As Adjusted** |
| **Convertible notes** | $1276151 | 1276151 |
| Accumulated deficit | (10573121) | (12073121) |
| **Stockholders' equity (deficit):** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, $0.0001 par value, 24,000,000 shares authorized; 4,000,000 shares issued and outstanding, actual; 4,000,000 shares issued and outstanding, as adjusted |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock, $0.0001 par value, 476,000,000 shares authorized; 3,149,679 shares issued and outstanding, actual; 5,292,537 shares issued and outstanding, as adjusted | 5476 | 5690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | $10938777 | 28081427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity (deficit) | 371132 | 16013996 |
| Total capitalization | $1647283 | 16013996 |

---

The number of common shares that will be outstanding after this offering set forth above is based on shares of our common stock outstanding as of September 30, 2022.

Unless specifically stated otherwise, all information in this Capitalization section assumes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· no exercise by the underwriters of their option to purchase additional
 common stock and/or warrants to purchase our common stock to cover over-allotments, if any; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· no exercise of the Representative's Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;(1) A $1.00 increase or decrease in the
 assumed initial public offering price per share would increase or decrease our as adjusted
 cash and cash equivalents, additional paid-in capital, total stockholders' equity and
 total capitalization by approximately $1,928,572 million, assuming the number of shares offered
 by us, as set forth on the cover page of this prospectus, remains the same and after deducting
 the underwriting discount and estimated offering expenses payable by us. Similarly, each
 increase (decrease) of 100 shares of common stock offered by us in this initial public offering
 would increase or decrease our as adjusted cash and cash equivalents, additional paid-in
 capital, total stockholders' equity and total capitalization by approximately $720.00,
 assuming that the assumed initial price to the public remains the same, and after deducting
 underwriting discounts and commissions payable by us.

The table above excludes the following shares as of September 30, 2022:

&nbsp;&nbsp;&nbsp;&nbsp;· up
 to 173,000 shares of common stock issuable upon exercise of outstanding warrants as of such
 date;

&nbsp;&nbsp;&nbsp;&nbsp;· no
exercise of the underwriters' option to purchase up to an additional 321,429 shares of common stock to cover over-allotments, if
any; and

&nbsp;&nbsp;&nbsp;&nbsp;· shares
 of common stock issuable upon exercise of the Representative's Warrants to be issued
 to the underwriters in connection with this offering.

&nbsp;&nbsp;&nbsp;&nbsp;· The
 data presented does not include any warrants that may be exercised for the convertible notes
 we issued.

**DILUTION**

If you invest in our common stock in this offering, your ownership interest will be diluted to the extent of the difference between the initial public offering price per share in this offering and the as adjusted net tangible book value per share immediately after this offering. We calculate net tangible book value per share by dividing our net tangible book value, which is tangible assets less total liabilities, by the number of our outstanding common stock as of September 30, 2022. Our historical net tangible book value as of September 30, 2022, was approximately ($1,050,168) or ($0.33) per share based upon shares of common stock outstanding on such date.

After giving effect to the sale of an assumed 2,142,858 shares in this offering at an assumed initial public offering price between $7 and $9 per share of common stock, after deducting the underwriting discounts and commissions and estimated offering costs payable by us, our as adjusted net tangible book value (deficit) as of September 30, 2022, would have been approximately $2.76 per common share. This represents an immediate increase in as adjusted net tangible book value of $3.09 per share to existing stockholders and an immediate dilution of $5.24 per share to investors purchasing our common shares in this offering at the assumed initial public offering price.

The following table illustrates per share dilution as of September 30, 2022:

---

| | |
|:---|:---|
| Assumed initial public offering price per share of common stock | $8.00 |
| Historical tangible book value (deficit) per share of common stock | $(0.33) |
| As adjusted net tangible book value (deficit) per share of common stock |  |
| Increase in net tangible book value (deficit) per share of common stock attributable to this offering | $3.09 |
| Net tangible book value (deficit) per share of common stock after this offering | $2.76 |
| Dilution per share of common stock to investors participating in this offering | $(5.24) |

---

Each $1.00 increase (decrease) in the assumed initial public offering price would increase (decrease) our as adjusted net tangible book value (deficit) after this offering by approximately $1,928,572 or approximately $.90 per share, and the dilution per share to new investors by approximately $0.10 per share, assuming that the number of shares offered by us, as set forth on the cover page of this prospectus, remain the same and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us. We may also increase or decrease the number of shares we are offering. An increase of 100 shares of common stock in the number of shares offered by us would increase our as adjusted net tangible book value (deficit) after this offering by approximately $720.00 or $7.20 per share of common stock, and decrease the dilution per share to new investors by $7.20 per share of common stock, assuming that the assumed initial public offering price remains the same, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly, a decrease of 100 shares in the number of shares offered by us would decrease our as adjusted net tangible book value (deficit) after this offering by approximately $720.00 or $7.20 per share of common stock, and increase the dilution per share to new investors by $.80 per share of common stock, assuming that the assumed initial public offering price remains the same, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us. The information discussed above is illustrative only and will adjust based on the actual initial public offering price and other terms of this offering determined at pricing.

The following table summarizes, on a pro forma as adjusted basis as of September 30, 2022, the differences between the number of shares of common stock purchased from us in this offering, the total cash consideration and the average price per share paid to us by existing stockholders and by new investors purchasing shares of common stock in this offering at an assumed initial public offering price of $8.00 per share, the midpoint of the price range set forth on the cover page of this prospectus, before deducting estimated underwriting discounts and estimated offering expenses payable by us:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Shares Purchased** | **Shares Purchased** | **Total <br> Consideration** | | |
|  | **Number** | **Percent** | **Amount** |<br>**Percent** |<br>**Average Price**<br> **Per Share** |
| Existing stockholders | 315929 | 12.8% | $10944253 | 39% | $34.64 |
| New public investors | 2142858 | 87.2 | 17142864 | 61 | 8.00 |
| Total | 2458787 | 100.0% | 28087117 | $100.0% | $11.42 |

---

If the underwriters exercise in full their option to purchase up to 321,429 additional shares of common stock at the assumed initial public offering price between $7 and $9 per share, the as adjusted net tangible book value (deficit) after this offering would be $3.02 per share, representing an increase in net tangible book value (deficit) of $0.26 per share to existing stockholders and immediate dilution in net tangible book value (deficit) of $4.98 per share to investors purchasing our common shares in this offering at the assumed initial public offering price.

Unless specifically stated otherwise, all information in this Dilution section assumes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· no exercise by the underwriters of their option to purchase additional
 common stock and/or warrants to purchase our common stock to cover over-allotments, if any; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· no exercise of the Representative's Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 3,149,679, the number of common shares that were outstanding as of September
30, 2022.

**MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION<br> AND RESULTS OF OPERATIONS**

*The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the financial statements and related notes to the financial statements included elsewhere in this prospectus. This discussion contains forward-looking statements that relate to future events or our future financial performance. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These risks and other factors include, among others, those listed under "forward-looking statements" and "risk factors" and those included elsewhere in this prospectus.* 

**Overview**

Vocodia Holdings Corp ("VHC") was incorporated in the State of Wyoming on April 27, 2021 and is a conversational AI technology provider. Vocodia's technology is designed to drive better sales and services for its customers. Clients turn to Vocodia for their product and service needs.

***Business Summary***

Vocodia is an AI software company that builds practical AI functions and makes them easily obtainable for businesses on cloud-based platform solutions at low costs and scalable to multiagent vast enterprise solutions.

The Company's operations includes three wholly owned subsidiaries: (1) Vocodia FL, which was incorporated in the State of Florida on June 2, 2021 and manages all of VHC's human resources and payroll functions, (2) Vocodia JV, which was incorporated in the State of Delaware on October 7, 2021 and was formed with the intention to conduct any and all joint ventures or acquisitions for VHC, which do not exist as of the date of this prospectus, and (3) Click Fish Media, Inc. ("CFM"), which was incorporated in the State of Florida on November 26, 2019 and is an IT services provider. CFM was formerly owned by James Sposato, who is an officer and director of the Company. CFM was wholly acquired by the Company from Mr. Sposato per the Contribution Agreement. CFM was formerly owned by James Sposato, who is an officer and director of the Company. CFM was acquired by the Company from Mr. Sposato per the Contribution Agreement, dated August 1, 2022 (a copy of which is included as Exhibit 4.6). In the Contribution Agreement ,Mr. Sposato ("Contributor"), has contributed, assigned, transferred and delivered to Vocodia, the outstanding capital stock of CFM and Vocodia has accepted the contributed shares from the Contributor. As full consideration for the Contribution, Vocodia has paid the Contributor consideration in the amount of $10.

An illustration of the Company's organizational structure is provided below:

![](cm250_img02.jpg)

Vocodia offers companies scalable enterprise AI sales and customer service solutions intended to rapidly increase sales and service at approximately 25% of employment costs.

Vocodia seeks to enhance rapport and relationship building for customers, which is as necessary component to sales. Vocodia believes that there is a positive correlation between AI which sounds similar to a human voice over the phone and better customer rapport and customer service benefits. With our advanced AI, we believe that it will be difficult for customers to distinguish between speaking to a human sales representative and to an AI. Vocodia believes it can increase customer satisfaction and maximize potential service efficiency for its clients. Our goal is to provide quick training and deployment, potentially unlimited scalability, easy integration with existing corporate platforms and other benefits to our customers from AI's efficiency. The Company projects that it will help its customers manage budgets and perform better than the high costs of existing sales and service personnel (whom we believe typically perform below the 90th percentile of their peers).

With our advanced AI, we believe that it will be difficult for customers to distinguish between speaking to a human sales representative and to a machine. Vocodia seeks to enhance rapport and relationship building for customers, which is as necessary component to sales. Vocodia believes that there is a positive correlation between AI which sounds similar to a human voice over the phone and better customer rapport and customer service benefits, Vocodia seeks to provide faster answers and service responses. Vocodia believes it can increase customer satisfaction and maximize potential service efficiency for its client. We want to provide quick training and deployment, potentially unlimited scalability, easy integration with existing corporate platforms and other benefits to our customers from AI's efficiency. The Company projects that it will help its customers manage budgets and perform better than the high costs of existing sales and service personnel (whom we believe typically perform below the 90th percentile of their peers).

**Components of Results of Operations**

**for the Periods Ended September 30, 2021 and 2022**

**Revenues**

The Company generates revenue through selling our AI software platform and its services (outbound sales and customer service in lieu of human agents and inbound sales and customer service in lieu of human agents) to organizational clients with purposed, agenda-driven, conversational dependent job function. Revenue is generated by building the humanized conversational AI technology, DISA (digital intelligent sales agent), specific to the conversational purpose(s) for clients at a one-time setup charge fee of $8,000. Our recurring monthly subscription SaaS model consists of a fee of $795 per month, per each DISA, at a client (minimum monthly subscription of 10 DISAs per client, resulting in $7,950 minimum subscription). Many clients may have 50 to 150 DISAs in use at any given time, however we have built our platform to target enterprise level clientele to serve, minimally, 1,000 DISA, or more, per month, per each client. In 2021, the Company converted 1 test client to a paying client, said client's services used 10 DISAs.

We began to explore several other sectors, including in real estate, cruise lines, recruiting, employment retention tax credits, etc. in 2022. We are focused on the markets in which there are significant enterprise clients, and which present the most optimal opportunities. We targeted the business-to-business industry, merchant services, and customer service markets with additional markets in the future. The Company received additional funding from private offerings that took place during this period.

**Cost of Revenue**

Cost of revenue consists primarily of costs associated with acquisition of products being sold through online marketplaces.

**Operating Expenses**

The cash requirements and known liabilities are listed in the expense section of the financial statements. Much of our operating expenses consisted of exploratory discovery of markets, marketing, pricing, selling and organizational modeling, such as sales structure from market approach to personnel recruiting, training, and management, to best determine efficiency in carrying out our mission of software sales and servicing, of DISA. We have seen an increase in operating expenses as we continue to add additional clients.

**Share Based Compensation**

In July 2021, the Company granted 2,000,000 shares of stock to an employee, Martin Taubman, that vested immediately. Management determined the grant date fair value of the shares based on the most recent price of shares sold in a private sale of securities and recorded a non-cash compensation expense of $1,000,000 for the year ended December 31, 2021.

**Professional Fees**

Professional fees consist primarily of legal fees incurred for business development and acquisitions of additional investments.

**Selling, General and Administrative**

Our general and administrative expenses consist primarily of consulting and related expenses paid to contractors, stock-based compensation, advertising and marketing costs, and other expenses.

**Other Income (Expense), Net**

Our other income and expenses remained constant and did not constitute a large part of our revenues during this time. However, this circumstance could potentially change in the future.

To date, we have funded our operations through debt and equity financings.

**Off-Balance Sheet Arrangements**

We did not have any off-balance sheet arraignments during the years ended September 30, 2022.

**Going Concern**

Our auditors have concluded that there is a substantial doubt about the Company's ability to continue as a going concern. If the Company is unable to generate sufficient profits or raise additional debt or equity capital in amounts needed to fund its operations, it could have a negative impact on the Company's business plans and ability to conduct its operations.

**Loss on Investments (Other Income)**

Other Expenses decreased by $116,875 for the period ending September 30<sup>th</sup>, 2022, as compared to the period ending September 30<sup>th</sup>, 2021, due to no Other Expenses being recognized for the period.

**Results of Operations** 

As we onboarded our pipeline of clients, we expected a material effect on our operations. The material change consisted of an increase in costs of revenues. This increase in our costs of revenues was a result in recognizing, identifying, and determining certain weaknesses in our sales, service and delivery operations and the restructuring, and development of such weaknesses in our operations. Consistent focus and effort consisted of correction of such weaknesses in our sales, servicing and delivery of our DISA, to improve:

&nbsp;&nbsp;&nbsp;&nbsp;· client
 targeting;

&nbsp;&nbsp;&nbsp;&nbsp;· client
 acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;· client
 convenience in the onboarding process;

&nbsp;&nbsp;&nbsp;&nbsp;· client
 onboarding processes, including, but not limited to establishing overall software expectations,
 establishing data delivery expectations and establishing data exchange conduits (target marketing
 data from clients);

&nbsp;&nbsp;&nbsp;&nbsp;· building
 of DISA processes and personnel and processes to carry out such labors, including management
 of personnel, labor product and communications (internal) to identify efficiencies in such
 efforts;

&nbsp;&nbsp;&nbsp;&nbsp;· testing
 DISA (built product for each client) and system capability (to meet expectations set for
 client);

&nbsp;&nbsp;&nbsp;&nbsp;· quality
 control and improvement of DISA and platform operability with regards to management and monitoring,
 providing functional analysis of platform and client DISA(s), and reporting (internally)
 function issues identified from monitoring and management of DISA performance, to meet client
 expectations, including establishment of systems and personnel and management systems to
 resolve such issues;

&nbsp;&nbsp;&nbsp;&nbsp;· establishing
 client communications, billing systems, and collecting payment for services sold and rendered;

&nbsp;&nbsp;&nbsp;&nbsp;· sales
 training and exploration of best methods for sales, determination of sales cycles and methods
 to reduce cycles (the time from first contact to signed contract) methods, expectations in
 delivery of sold products and services,

Other results of operations consisted of an increase in (revenues) relating to improvements and upgrades to the system platform and DISA technology at the platform level to provide improvement of operations and functions for both internal usability, as mentioned above, and expansion of product viability to clientele. Vocodia views its software, and its platform to deliver its software, and internal structure to sell and service its software, as deliverable, viable, and valuable to the marketplace within its intended target market. Further, Vocodia views its target market as "untapped" and "completely wide open," and that our technology could lead the path forward in the humanized conversational ai market as a service to organizations with conversationally dependent job functions. We anticipate achieving a gain of market share and revenues over time because of our business strategy.

**Unaudited, Interim Combined Financials for the nine months September 30, 2022 and 2021**

The following tables set forth selected combined statements of operations data and such data as a percentage of total revenues for each of the periods indicated:

**Vocodia Holdings Corp**

**Combined Statements of Operations** 

**for the periods nine months September 30, 2022 and 2021**

---

| | | |
|:---|:---|:---|
|  | **September 30, 2021** | **September 30, 2022** |
|  | (Unaudited) | (Unaudited) |
| **Net Sales** | $- | $156607 |
| **Cost of Sales** | 2618 | 252955 |
| **Gross Loss** | **(2618)** | **(96348)** |
| **<u>SG&A</u>** |  |  |
| &nbsp;&nbsp;&nbsp;General & Administrative Expenses<sup>(1)</sup> | 807161 | 1702751 |
| &nbsp;&nbsp;&nbsp;Advertising<sup>(2)</sup> | 160275 | 321215 |
| &nbsp;&nbsp;&nbsp;Salaries and Wages<sup>(3)</sup> | 327503 | 1404125 |
| &nbsp;&nbsp;&nbsp;Services<sup>(4)</sup> | 643972 | 2196805 |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization<sup>(5)</sup> | 1523 | 5564 |
| **Total SG&A** | **1940434.00** | **5630459** |
| **Operating Loss** | (1943052) | (5726807) |
| **<u>Other Income (Expenses)</u>** |  |  |
| &nbsp;&nbsp;&nbsp;Gain (Loss) on Investment | 116875 |  |
| &nbsp;&nbsp;&nbsp;Interest Expense<sup>(6)</sup> | - | 12794 |
| **Total Other Income (Expenses)** | **116875** | **12794** |
| **Earnings Before Taxes** | (2059927) | (5739601) |
| &nbsp;&nbsp;&nbsp;Federal Income Tax |  |  |
| &nbsp;&nbsp;&nbsp;State Income Tax | - | - |
| **Net Loss** | $**(2059927.00)** | $**(5739601.33)** |

---

See accompanying notes to combined financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;(1) General and Administrative Expenses
 increased by $895,590 or 111% over the prior period. Since operations commenced in May, 2021,
 part of the apparent increase is solely due the comparison of an unequal number of operating
 months in each period that is being compared. During the period ended September 30, 2022,
 General and Administrative expenses increased primarily due to marketing, dues and subscriptions
 for technology, legal costs, and rent expense.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Advertising expense increased by $160,940
 or 100% over the prior period. Since operations commenced in May, 2021, part of the apparent
 increase is solely due the comparison of an unequal number of operating months in each period
 that is being compared. During the period ended September 30, 2022, Advertising expense increased
 primarily due to PR and trade shows.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Salary and Wages Expenses increased
 by $1,076,622 or 328% over the prior period. Since operations commenced in May, 2021, part
 of the apparent increase is solely due the comparison of an unequal number of operating months
 in each period that is being compared. During the period ended September 30, 2022, Payroll
 and Related Expenses increased primarily due to the hiring of key executives, administrative
 staff, and programmers.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Services costs increased by $1,552,833
 or 241% over the prior period. Since operations commenced in May, 2021, part of the apparent
 increase is solely due the comparison of an unequal number of operating months in each period
 that is being compared. During the period ended September 30, 2022, Services costs increased
 primarily due to non-employee stock based compensation for legal and advisory costs.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Depreciation and Amortization increased
 to $4,041 or 265% over the prior period. Since operations commenced in May, 2021, part of
 the apparent increase is solely due the comparison of an unequal number of operating months
 in each period that is being compared. During the period ended September 30, 2022, Depreciation
 and Amortization expense increased primarily due to depreciation of computers and other IT
 related equipment.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Interest Expense increased by $12,794
 or 100% over the prior period. During the period ended September 30, 2022, Interest expense
 increased due to the amortization of OID Interest related to convertible debt financing.

**Cost of Revenue** 

Cost of revenue was $2,618 and $252,955, due to the Company having a full year of products production for the periods nine months September 30, 2021 and 2022. The increase in costs associated with the growth in service revenue described above.

**Professional Fees**

Professional fees increased from $467,073 to $1,472,626, for the nine months ended September 30, 2021 and 2022, primarily due to increased legal costs associated with funding opportunities, costs associated with this offering and intellectual property matters.

**General and Administrative**

General and Administrative expenses were $1,940,434 and $5,630,460 for the nine months ended September 30, 2021 and 2022.

**Loss on Investments (Other Income)**

Other Expenses decreased by $116,875 for the period ending September 30<sup>th</sup>, 2022, as compared to the period ending September 30<sup>th</sup>, 2021, due to no Other Expenses being recognized for the period.

**Provision for Income Taxes**

Provision for income taxes consists of federal and state income taxes in the United States, including deferred income taxes reflecting the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes.

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2021** | **September 30,**<br>**2022** |
| Current tax expense: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current Income Tax Expense - federal | $0- | $0- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current Income Tax Expense - state | 0- | 0- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current tax expense | $0- | $0- |
| Deferred tax expense: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred Income Tax Expense - federal | $0- | $0- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred Income Tax Expense - state | 0- | 0- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Deferred tax expense | $0- | $0- |
|  | **December 31,** | **September 30,** |
|  | **2021** | **2022** |
| Current tax expense: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current Income Tax Expense - federal | $- | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current Income Tax Expense - state | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current tax expense | $- | $- |
| Deferred tax expense: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred Income Tax Expense - federal | $- | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred Income Tax Expense - state | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Deferred tax expense | $- | $- |

---

See accompanying notes to combined financial statements.

**Liquidity and Capital Resources**

**Sources of Liquidity**

We had net cash used in operating activities of $3,822,708 and $4,211,979 for the periods ended September 30, 2021 and 2022. Our current cash balances coupled with cash flow from operating activities and proceeds from this offering will be sufficient to meet our working capital requirements for at least one year from the date of issuance of the accompanying combined financial statements. We continue to control our cash expenses as a percentage of expected revenue on an annual basis and thus may use our cash balances in the short-term to invest in revenue growth. Based on current internal projections, we believe we have and/or will generate sufficient cash for our operational needs, for at least one year from the date of issuance of the accompanying combined financial statements. We cannot give assurance that we can increase our cash balances or limit our cash consumption and thus maintain sufficient cash balances for our planned operations or future acquisitions. Future business demands may lead to cash utilization at levels greater than recently experienced. We may need to raise additional capital in the future. However, we cannot assure that we will be able to raise additional capital on acceptable terms, or at all. Subject to the foregoing, management believes that we will have sufficient capital and liquidity to fund our operations for at least one year from the date of issuance of the accompanying combined financial statements. The Company received additional funding from private offerings that took place during this period.

On a monthly basis, we review our actual performance to our budget and adjust or reforecast for any material changes in trends that we identify. As part of our review process, we also monitor working capital levels to ensure we have sufficient cash on hand to meet our short term needs. To ensure we meet those needs, we are also constantly analyzing ways in which we can cut costs while driving cash flow positive revenue. Based on our analyses, we estimate that we currently have sufficient liquidity to cover our planned initiatives into the second quarter of 2023.

Our capital structure consists predominately of equity financing and our convertible debt financing arrangements do not require any interest payments for the next 4-6 months. The convertible debt instruments will also convert into equity at that time, so we anticipate having zero debt, further enhancing both accrual and cash basis cash flows. The remainder of financing we have is equity based, requiring no cash outlay to maintain.

We plan to raise net proceeds of $15,642,864 to cover our planned initiatives over the 12-month period following the effectiveness of this registration statement.

**Capital Resources**

From Inception to date, our capital resources have consisted primarily of equity investors (common stock and warrants) and convertible debt financing instruments. We maintain relationships with a number of high-net-worth individuals that have been investors in the company from the start. We also utilize investment banks and other third-party intermediaries for introductions to new prospective investors.

**Capital Expenditures**

In 2021, we spent $36,630 on capital expenditures, all of which was spent on computers and equipment. Although we do plan to spend more on computer equipment in the years to come, the nature of our business is not heavy in capital expenditure requirements. The bulk of our capital needs to cover SG&A, working capital, and other capitalizable software development costs.

The tax effects of temporary differences which give rise to the significant portions of deferred tax assets or liabilities are as follows for the periods ended September 30, 2021 and 2022, respectively:

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2021** | **September 30,**<br>**2022** |
| Deferred tax assets: |  |  |
| &nbsp;&nbsp;&nbsp;Net Operating loss Carryforward | $874730 | $2480032 |
| &nbsp;&nbsp;&nbsp;Capital loss Carryover | 463450 | 463450 |
| &nbsp;&nbsp;&nbsp;Net Lease Liability | 6400 | 6793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax assets | $1344580 | $2950275 |
| Deferred tax liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | $(126000) | $(80742) |
| &nbsp;&nbsp;&nbsp;Amortization | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax liabilities | (126000) | (80742) |
| &nbsp;&nbsp;&nbsp;Less: valuation allowance | (1218580) | (2869533) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net deferred tax assets | $- | $- |

---

See accompanying notes to combined financial statements.

The Company will have approximately $3,525,000 and $9,785,000 of gross net operating loss carry-forwards at December 31, 2021 and September 30, 2022, respectively. Net deferred tax assets are mainly comprised of temporary differences between financial statement carrying amount and tax basis of assets and liabilities.

In addition, the Company performed a comprehensive review of its uncertain tax positions and determined that no adjustments were necessary relating to unrecognized tax benefits for the periods ended September 30, 2021 and 2022. The Company's federal and state income tax returns are subject to examination by taxing authorities for three (3) years after the returns are filed, and the Company's federal and state income tax returns for 2020 remain open to examination.

The reconciliation of the income tax benefit is computed at the U.S. federal statutory rate as follows.

---

| | |
|:---|:---|
| Federal statutory income tax at 21% | 21.00% |
| State income taxes, net of federal benefits | -4.35% |
| Application of a full valuation allowance | -16.66% |
|  | -0.01% |
| Federal statutory income tax at 21% | 21.00% |
| State income taxes, net of federal benefits | -4.35% |
| Application of a full valuation allowance | -16.66% |
|  | -0.01% |

---

See accompanying notes to combined financial statements.

**Internal Control Over Financial Reporting**

We are not currently required to comply with the SEC's rules implementing Section 404 of the Sarbanes-Oxley Act, and are therefore not required to make a formal assessment of the effectiveness of our internal control over financial reporting for that purpose. Upon becoming a public company, we will be required to comply with the SEC's rules implementing Section 302 of the Sarbanes-Oxley Act, which will require our management to certify financial and other information in our quarterly and annual reports and provide an annual management report on the effectiveness of our internal control over financial reporting. We will be required to make our first assessment of our internal control over financial reporting and to comply with the management certification requirements of Section 404 in our annual report on Form 10-K for the year following our first annual report that is filed with the SEC (subject to any change in applicable SEC rules).

Further, our independent registered public accounting firm is not yet required to formally attest to the effectiveness of our internal controls over financial reporting and will not be required to do so for as long as we are an "emerging growth company" pursuant to the provisions of the JOBS Act. See "*Summary—Implications of Being an Emerging Growth Company and Smaller Reporting Company*."

**Critical Accounting Policies** 

**The following are the Company's critical accounting policies:**

**Principles of Combination**

The combined financial statements include the accounts of Vocodia and CFM which are combined as they are under common control with certain stockholders of Vocodia. All significant intercompany balances and transactions have been eliminated in combination and consolidation.

**Use of Estimates**

The preparation of combined financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses at the date and for the periods that the combined financial statements are prepared. On an ongoing basis, the Company evaluates its estimates, including those related to insurance adjustments and provisions for doubtful accounts. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could materially differ from those estimates.

**Revenue Recognition and Sales Returns**

In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASC 606"), which requires the Company to recognize revenue in an amount that reflects the consideration to which it expects to be entitled in exchange for the transfer of promised goods or services to customers. ASC 606, as amended, defines a five-step process to achieve this core principle: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. This update is effective for annual reporting periods beginning after December 15, 2019.

The Company's revenues are derived from two sources: (1) implementation fees, and (2) offering its SaaS on a recurring monthly basis. Implementation fees are charged for setting up or calibrating its software so that the AI can be used by the customer for its particular use case and are usually a one-time cost. The recurring monthly fees are charged for the ongoing use of the AI to continue to call/prospect for the Company's customers and are charged on a monthly recurring basis.

**Property and Equipment**

Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using straight-line methods over the useful lives of the assets. Expenditures for major betterments and additions are charged to the property and equipment accounts, while replacements, maintenance, and repairs, which do not improve or extend the lives of the respective assets, are charged to expense. The carrying amounts of assets that are sold or retired and their related accumulated depreciation are removed from the accounts in the year of disposal, and any resulting gain or loss is reflected in income.

**Software Development Costs**

In accordance with ASC 350-40, Internal Use Software, the Company capitalizes certain internal use software development costs associated with creating and enhancing internally developed software related to its platforms. Software development activities generally consist of three stages (i) the research and planning stage, (ii) the application and development stage, and (iii) the post-implementation stage. Costs incurred in the planning and postimplementation stages of software development, or other maintenance and development expenses that do not meet the qualification for capitalization are expensed as incurred. Costs incurred in the application and infrastructure development stage, including significant enhancements and upgrades, are capitalized. These costs include personnel expenses for employees or consultants who are directly associated with and who devote time to software projects, and external direct costs of materials obtained in developing the software. These software developments and acquired technology costs will be amortized on a straight-line basis over the estimated useful life upon the "go-live" date.

**Long-Lived Assets**

The Company reviews its long-lived assets for possible impairment at least annually, and more frequently if circumstances warrant. Impairment is determined to exist when estimated amounts recoverable through future cash flows from operations on an undiscounted basis, are less than long-lived assets carrying value. If a long-lived asset is determined to be impaired, it is written down to its estimated fair value to the extent that the carrying amount exceeds the fair value of the long- lived asset. The Company did not recognize any impairment losses during the nine months ended September 30, 2021 and 2022.

**Fair Value of Financial Instruments**

The carrying amounts of the Company's financial instruments, including cash, accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

**Concentrations of Credit Risk**

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash. The Company maintains deposit balances at financial institutions. Accounts at these financial institutions are insured by the Federal Deposit Insurance Corporation ("FDIC"). The Company generally limits its exposure by placing its deposits with quality financial institutions. For the periods ended September 30, 2021 and 2022, the Company had approximately $1,019,005 and $853,121, respectively, exceeding the FDIC limit of $250,000. The Company does not anticipate any loss on these funds.

**Advertising**

The Company expenses advertising costs as they are incurred. Advertising expenses totaled approximately $160,275 and $321,215 for the periods ended September 30, 2021 and 2022, respectively.

**Income Taxes**

The Company accounts for income tax under the provisions of ASC 740, Income Taxes. The Company records a liability for uncertain tax positions when it is probable that a loss has been incurred and the amount can be reasonably estimated. At September 30, 2021 and 2022, the Company had no liabilities for uncertain tax positions. The Company continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. The Company's tax years subject to examination by tax authorities generally remain open for three (3) years from the date of filing.

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Deferred tax assets are required to be reduced by a valuation allowance to the extent that, based on the weight of available evidence, it is more likely than not that the deferred tax assets will not be realized.

**Right-of-Use Assets**

The Company records leases in accordance with ASC 842. ASC 842 establishes a right-of-use ("ROU") model that requires the Company to record a ROU asset and a lease liability on the combined balance sheets for all leases with terms longer than twelve (12) months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the combined statements of operations and the combined statements of changes in stockholders' equity.

The Company's leases consist of a non-cancelable operating lease that relates to a real estate rental agreement entered into starting August 2021. The Company determines the present value of minimum future lease payments for operating leases by estimating a rate of interest that it would have to pay to borrow on a collateralized basis over a similar term, an amount equal to the lease payments and a similar economic environment (the "incremental borrowing rate" or "IBR").

The Company determines the appropriate IBR by identifying a reference rate and making adjustments that take into consideration financing options and certain lease-specific circumstances. For the reference rate, the Company used the seven-year mortgage interest rate.

**Audited Combined Financials for the years ended December 31, 2021 and 2020**

The following tables set forth selected combined statements of operations data and such data as a percentage of total revenues for each of the periods indicated:

**Vocodia Holdings Corp**

**Combined Statements of Operations <sup>(1)</sup>**

**For the years ended December 31, 2021 and 2020**

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
| Revenues | $34242 | $30361 |
| Cost of revenues | 32736 | 17300 |
| Gross profit | 1506 | 13061 |
| Operating expenses: General and administrative | 1176464 | 12540 |
| &nbsp;&nbsp;&nbsp;Stock compensation expense<sup>(2)</sup> | 1000000 |  |
| &nbsp;&nbsp;&nbsp;Payroll and related expenses<sup>(3)</sup> | 742634 |  |
| &nbsp;&nbsp;&nbsp;Professional Fees<sup>(4)</sup> | 443342 |  |
| &nbsp;&nbsp;&nbsp;Advertising<sup>(5)</sup> | 292921 |  |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization<sup>(6)</sup> | 3311 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 3658672 | 12540 |
| Loss from (operations) income | (3657166) | 521 |
| Other expense: |  |  |
| Loss on investment (Other income) | (1176875) |  |
| (Loss) income before income taxes | (4834041) | 521 |
| Income tax expense |  |  |
| Net (loss) income | $(4834041) | $521 |

---

See accompanying notes to combined financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Changes in Revenue and Expenses: The Company experienced changes in
 revenue which is not uncommon for an emerging growth business. The Company conducted extensive research with alpha and beta testing,
 to forecast a particular industry's receptivity to DISAs. The Company has tweaked the targets and corresponding forecasting
 model to reflect where the Company is at present, including the fastest path to revenue and sustainable operating scalability. The
 Company's revenue increased as the Company made positive progress during its expansion into multiple marketplaces, such as
 the real estate and employee retention tax credits industries. The majority of the expenses reported are a reflection of the overhead
 required to penetrate these additional marketplaces and industries in addition to the normal growth of business expenses that increase
 with expansion (e.g., expenses concerning: stock compensation, payroll, services, advertising, depreciation and amortization, as
 well as general and administrative operating expenses).

(2) Stock compensation expense increased by $1,000,000, our audited financials
 do not list the previous year for a percentage comparison, due to the lack of data since the Company was incorporated on April 27,
 2021. During the year ended December 31, 2021, stock compensation expense increased primarily due to employee compensation paid in
 the form of issuance of stock.

(3) Payroll and related expenses increased to $742,634, our audited financials
 do not list the previous year for a percentage comparison, due to the lack of data since the Company was incorporated on April 27,
 2021. During the year ended December 31, 2021, payroll and related expenses increased primarily due to employee compensation as the
 Company commenced operations.

(4) Services expense increased to $443,342, our audited financials do not
 list the previous year for a percentage comparison, due to the lack of data since the Company was incorporated on April 27, 2021.
 During the year ended December 31, 2021, services expense increased primarily due to services incurred as the Company commenced operations.

(5) Advertising expense increased to $292,921, our audited financials do
 not list the previous year for a percentage comparison, due to the lack of data since the Company was incorporated on April 27, 2021.
 During the year ended December 31, 2021, advertising expense increased primarily due to costs incurred as the Company commenced operations.

(6) Depreciation and Amortization expense increased to $3,311, our audited
 financials do not list the previous year for a percentage comparison, due to the lack of data since the Company was incorporated
 on April 27, 2021. During the year ended December 31, 2021, depreciation and amortization expense increased primarily due to property
 and equipment placed in services which commenced depreciating during the year .

**Cost of Revenue** 

Cost of revenue increased by $15,436, or 89%, due to the Company having a full year of products production during the year ended December 31, 2021, as compared to the year ended December 31, 2020. The larger increase in costs are associated with the growth in service revenue described above.

**Professional Fees**

Professional fees increased to $443,342 during the year ended December 31, 2021, primarily due to increased legal costs associated with funding opportunities and intellectual property matters. We had $0 in Professional fees for the year ended December 31, 2020 because the Company was incorporated on April 27, 2021.

**General and Administrative**

General and Administrative expenses increased by $1,163,924, or 9282 % for the year ended December 31, 2021 as compared to the year ended December 31, 2020.

**Loss on Investments (Other Income)**

Other expenses increased by $1,176,875 for the periods ended December 31, 2020 and 2021.The increase is due to losses on prospective investments. The bulk of the losses on prospective investment for the year ended December 31, 2021, was attributable to a $1,000,000 write off related to an investment in VISA, which was an international sales agency that was supposed to bring the Company international clientele. Additionally, we also incurred a loss related to a $56,875 investment in an opportunity with The Mexican Secretariat of National Defense ("SEDENA"), which was also supposed to refer business to us, which never materialized.

**Provision for Income Taxes**

Provision for income taxes consists of federal and state income taxes in the United States, including deferred income taxes reflecting the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes.

---

| | | |
|:---|:---|:---|
| Current tax expense: | **2021** | **2020** |
| Current income tax expense – federal | $— | $— |
| Current income tax expense – state |  |  |
| Current income tax expense – foreign |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current tax expense |  |  |
| Deferred tax expense: |  |  |
| &nbsp;&nbsp;&nbsp;Deferred income tax expense – federal | (851118) |  |
| &nbsp;&nbsp;&nbsp;Deferred income tax expense – state | (410912) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred income tax expense | $(1262030) | $— |

---

See accompanying notes to combined financial statements.

The tax effects of temporary differences which give rise to the significant portions of deferred tax assets or liabilities are as follows at December 31, 2021 and 2020, respectively:

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
| Deferred tax assets: |  |  |
| &nbsp;&nbsp;&nbsp;Net operating loss carryforward | $3524831 |  |
| Capital loss carryover | $1000000 |  |
| &nbsp;&nbsp;&nbsp;Inventory |  |  |
| Unrealized losses |  |  |
| &nbsp;&nbsp;&nbsp;Charitable contribution carryforward |  |  |
| &nbsp;&nbsp;&nbsp;Reserves and allowances |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense limitation |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid Expenses | 25252 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax assets | 4550083 |  |
| Deferred tax liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | (497140) |  |
| &nbsp;&nbsp;&nbsp;Amortization |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax liabilities | (497140) |  |
| Less: valuation allowance | (4052943) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net deferred tax assets |  |  |

---

See accompanying notes to combined financial statements.

The Company had approximately $3,053,000 of operating loss carry-forwards at December 31, 2021. Net deferred tax assets are mainly comprised of temporary differences between financial statement carrying amount and tax basis of assets and liabilities.

ASC 740 requires a valuation allowance to reduce the deferred tax assets reported if, based on the weight of the evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. At December 31, 2021 and 2020, respectively, a full valuation allowance was recognized.

In addition, the Company performed a comprehensive review of its uncertain tax positions and determined that no adjustments were necessary relating to unrecognized tax benefits at December 31, 2021 and 2020. The Company's federal and state income tax returns are subject to examination by taxing authorities for three (3) years after the returns are filed, and the Company's federal and state income tax returns for 2020 remain open to examination.

The reconciliation of the income tax benefit is computed at the U.S. federal statutory rate as follows.

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br> **2021** | **December 31,**<br> **2020** |
| Federal statutory income tax at 21% | (21.00)% | 0.00% |
| &nbsp;&nbsp;&nbsp;Permanent differences | 0.00% | 0.00% |
| &nbsp;&nbsp;&nbsp;Change in tax rate | 0.00% | 0.00% |
| &nbsp;&nbsp;&nbsp;State income taxes, net of federal benefit | (4.35)% | 0.00% |
| &nbsp;&nbsp;&nbsp;Change in valuation allowance | 25.35% | 0.00% |
| &nbsp;&nbsp;&nbsp;Prior year adjustments | 0.00% | 0.00% |
| &nbsp;&nbsp;&nbsp;Effect on rate other than statutory – foreign tax | 0.00% | 0.00% |
| &nbsp;&nbsp;&nbsp;Provision for income taxes | 0.00% | 0.00% |

---

See accompanying notes to combined financial statements.

**Internal Control Over Financial Reporting**

We are not currently required to comply with the SEC's rules implementing Section 404 of the Sarbanes-Oxley Act, and are therefore not required to make a formal assessment of the effectiveness of our internal control over financial reporting for that purpose. Upon becoming a public company, we will be required to comply with the SEC's rules implementing Section 302 of the Sarbanes-Oxley Act, which will require our management to certify financial and other information in our quarterly and annual reports and provide an annual management report on the effectiveness of our internal control over financial reporting. We will be required to make our first assessment of our internal control over financial reporting and to comply with the management certification requirements of Section 404 in our annual report on Form 10-K for the year following our first annual report that is filed with the SEC (subject to any change in applicable SEC rules).

Further, our independent registered public accounting firm is not yet required to formally attest to the effectiveness of our internal controls over financial reporting and will not be required to do so for as long as we are an "emerging growth company" pursuant to the provisions of the JOBS Act. See "*Summary—Implications of Being an Emerging Growth Company and Smaller Reporting Company*."

**Critical Accounting Policies** 

**The following are the Company's critical accounting policies:**

**Principles of Combination**

The combined financial statements include the accounts of Vocodia Holdings Corp and Click Fish Media, Inc. (collectively, the "Company") which are combined as they are under common control with certain stockholders of Vocodia. All significant intercompany balances and transactions have been eliminated in combination and consolidation.

**Use of Estimates**

The preparation of combined financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses at the date and for the periods that the combined financial statements are prepared. On an ongoing basis, the Company evaluates its estimates, including those related to insurance adjustments and provisions for doubtful accounts. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could materially differ from those estimates.

**Revenue Recognition and Sales Returns**

In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASC 606"), which requires the Company to recognize revenue in an amount that reflects the consideration to which it expects to be entitled in exchange for the transfer of promised goods or services to customers. ASC 606, as amended, defines a five-step process to achieve this core principle: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. This update is effective for annual reporting periods beginning after December 15, 2019.

The Company's revenues are derived from two sources: (1) Implementation fees, and (2) offering its software as a service on a recurring monthly basis. Implementation fees are charged for setting up or calibrating its software so that the AI can be used by the customer for its particular use case, and are usually a one-time cost. The recurring monthly fees are charged for the ongoing use of the AI to continue to call/prospect for the company's customers, and are charged on a monthly recurring basis.

**Property and Equipment**

Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using straight-line methods over the useful lives of the assets. Expenditures for major betterments and additions are charged to the property and equipment accounts, while replacements, maintenance, and repairs, which do not improve or extend the lives of the respective assets, are charged to expense. The carrying amounts of assets that are sold or retired and their related accumulated depreciation are removed from the accounts in the year of disposal, and any resulting gain or loss is reflected in income.

**Software Development Costs**

In accordance with ASC 350-40, Internal Use Software, the Company capitalizes certain internal use software development costs associated with creating and enhancing internally developed software related to its platforms. Software development activities generally consist of three stages (i) the research and planning stage, (ii) the application and development stage, and (iii) the post-implementation stage. Costs incurred in the planning and postimplementation stages of software development, or other maintenance and development expenses that do not meet the qualification for capitalization are expensed as incurred. Costs incurred in the application and infrastructure development stage, including significant enhancements and upgrades, are capitalized. These costs include personnel expenses for employees or consultants who are directly associated with and who devote time to software projects, and external direct costs of materials obtained in developing the software. These software developments and acquired technology costs will be amortized on a straight-line basis over the estimated useful life upon the "go-live" date.

**Long-Lived Assets**

The Company reviews its long-lived assets for possible impairment at least annually, and more frequently if circumstances warrant. Impairment is determined to exist when estimated amounts recoverable through future cash flows from operations on an undiscounted basis, are less than long-lived assets carrying value. If a long-lived asset is determined to be impaired, it is written down to its estimated fair value to the extent that the carrying amount exceeds the fair value of the long- lived asset. The Company did not recognize any impairment losses during the years ended December 31, 2021 and 2020.

**Fair Value of Financial Instruments**

The carrying amounts of the Company's financial instruments, including cash, accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

**Concentrations of Credit Risk**

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash. The Company maintains deposit balances at financial institutions. Accounts at these financial institutions are insured by the Federal Deposit Insurance Corporation ("FDIC"). The Company generally limits its exposure by placing its deposits with quality financial institutions. At December 31, 2021 and 2020, the Company had approximately $251,000 and $0, respectively, exceeding the FDIC limit. The Company does not anticipate any loss on these funds.

**Advertising**

The Company expenses advertising costs as they are incurred. Advertising expenses totaled approximately $293,000 and $0 for the years ended December 31, 2021 and 2020, respectively.

**Income Taxes**

The Company accounts for income tax under the provisions of ASC 740, Income Taxes. The Company records a liability for uncertain tax positions when it is probable that a loss has been incurred and the amount can be reasonably estimated. At December 31, 2021 and 2020, the Company had no liabilities for uncertain tax positions. The Company continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. The Company's tax years subject to examination by tax authorities generally remain open for three (3) years from the date of filing.

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Deferred tax assets are required to be reduced by a valuation allowance to the extent that, based on the weight of available evidence, it is more likely than not that the deferred tax assets will not be realized.

**Right-of-Use Assets**

The Company records leases in accordance with ASC 842. ASC 842 establishes a right-of-use ("ROU") model that requires the Company to record a ROU asset and a lease liability on the combined balance sheets for all leases with terms longer than twelve (12) months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the combined statements of operations and the combined statements of changes in stockholders' equity.

The Company's leases consist of a non-cancelable operating lease that relates to a real estate rental agreement entered into starting August 2021. The Company determines the present value of minimum future lease payments for operating leases by estimating a rate of interest that it would have to pay to borrow on a collateralized basis over a similar term, an amount equal to the lease payments and a similar economic environment (the "incremental borrowing rate" or "IBR").

The Company determines the appropriate IBR by identifying a reference rate and making adjustments that take into consideration financing options and certain lease-specific circumstances. For the reference rate, the Company used the seven-year mortgage interest rate.

**Date of Management's Review**

Management has evaluated events and transactions occurring subsequent to the date of the combined financial statements for matters requiring recognition or disclosure in the combined financial statements. The accompanying combined financial statements consider events through the dates the combined financial statements were available to be issued.

**BUSINESS**

 ****

***Company Overview***

Vocodia Holdings Corp ("VHC") was incorporated in the State of Wyoming on April 27, 2021 and is a conversational AI technology provider. Vocodia's technology is designed to drive better sales and services for its customers. Clients turn to Vocodia for their product and service needs.

***Business Summary***

Vocodia is an AI software company that builds practical AI functions and makes them easily obtainable for businesses on cloud-based platform solutions at low costs and scalable to multiagent vast enterprise solutions..

The Company's operations includes three wholly owned subsidiaries: (1) Vocodia FL, LLC ("Vocodia FL"), which was incorporated in the State of Florida on June 2, 2021 and manages all of VHC's human resources and payroll functions, (2) Vocodia JV, LLC ("Vocodia JV"), which was incorporated in the State of Delaware on October 7, 2021 and was formed with the intention to conduct any and all joint ventures or acquisitions for VHC, which do not exist as of the date of this prospectus, and (3) CFM, which was incorporated in the State of Florida on November 26, 2019 and is an IT services provider. CFM was formerly owned by James Sposato, who is an officer and director of the Company. CFM was wholly acquired by the Company from Mr. Sposato per the Contribution Agreement dated August 1, 2022. CFM was formerly owned by James Sposato, who is an officer and director of the Company. Click Fish Media, Inc. ("CFM") was acquired by the Company from Mr. Sposato per the Contribution Agreement, dated August 1, 2022 (a copy of which is included as Exhibit 4.6). In the Contribution Agreement, Mr. Sposato ("Contributor"), has contributed, assigned, transferred and delivered to Vocodia, the outstanding capital stock of CFM and Vocodia has accepted the contributed shares from the Contributor. As full consideration for the Contribution, Vocodia has paid the Contributor consideration in the amount of $10.

An illustration of the Company's organizational structure is provided below:

![](cm250_img02.jpg)

Vocodia offers companies scalable enterprise AI sales and customer service solutions intended to rapidly increase sales and service at approximately 25% of employment costs.

Vocodia seeks to enhance rapport and relationship building for customers, which is as necessary component to sales. Vocodia believes that there is a positive correlation between AI which sounds similar to a human voice over the phone and better customer rapport and customer service benefits. With our advanced AI, we believe that it will be difficult for customers to distinguish between speaking to a human sales representative and to an AI. Vocodia believes it can increase customer satisfaction and maximize potential service efficiency for its clients. Our goal is to provide quick training and deployment, potentially unlimited scalability, easy integration with existing corporate platforms and other benefits to our customers from AI's efficiency. The Company projects that it will help its customers manage budgets and perform better than the high costs of existing sales and service personnel (whom we believe typically perform below the 90th percentile of their peers).

With our advanced AI, we believe that it will be difficult for customers to distinguish between speaking to a human sales representative and to a machine. Vocodia seeks to enhance rapport and relationship building for customers, which is as necessary component to sales. Vocodia believes that there is a positive correlation between AI which sounds similar to a human voice over the phone and better customer rapport and customer service benefits, Vocodia seeks to provide faster answers and service responses. Vocodia believes it can increase customer satisfaction and maximize potential service efficiency for its client. We want to provide quick training and deployment, potentially unlimited scalability, easy integration with existing corporate platforms and other benefits to our customers from AI's efficiency. The Company projects that it will help its customers manage budgets and perform better than the high costs of existing sales and service personnel (whom we believe typically perform below the 90th percentile of their peers).

***Our Mission***

Vocodia is a conversational AI software developer and provider. Our mission is to maximize value in communications between organizations and their consumer bases from "hello" to "goodbye" – the goal is to be the conversational leader in corporate and organizational, agenda driven communications, to drive convenience, scale, and empowerment, while reducing operational costs and risk.

Vocodia offers companies scalable enterprise-level AI sales and customer service solutions which allow for AI sales representatives to reduce human labor costs and responsibilities while increasing the reach and efficacy of human-led, purposeful, agenda driven and conversational communications. We deliver our patented conversational AI software in the form of Digital Intelligent Sales Agents, which we refer to as DISAs® ("DISAs"). The DISAs are designed to perform business tasks that require humans to converse with one another effectively. This is due to Vocodia's belief that the DISAs are built with AI software programmed to sound and feel human, with the goal of providing the best representation for each of our customers' businesses.

Vocodia's DISAs have been programmed to provide the marketplace with an alternative to human sales representatives in the function of (1) sales; (2) customer service; (3) supportive agency; (4) intermediary communications; and (5) alerts with automated transfers and queuing. The DISAs are tailored to serve the specific requirements of each of our customers and are delivered via our proprietary platform.

We view our DISAs as the total solution for those in need of sales and customer service automation, which provides the marketplace alternative to a role that has primarily been serviced by humans in the sales and customer service departments, in part or in whole, to increase our clients' revenues and lower costs, providing them with the ability to produce campaigns fast and scale them up or down as necessary.

 ****

Our software is intended to provide a solution for operational costs and efficiency deficits by improving business automation and reducing the inefficiencies caused by human limitations. Our motto is to "Go Beyond Human", with AI replacement of human salespeople and customer service representatives. We aim to lower costs associated with sales campaigns that rely on humans and provide scalability of agent quantity, style, mission, and other personalization at varying levels for each organization's needs.

***Market Opportunity***

*AI Reduces Labor Spending*

 

Growth for most businesses means increasing sales and services. However, growth is often limited by available resources, such as customers and employees. Planning, recruiting, training and retaining employees to focus on growth (sales), and retaining such employees (attrition), is typically expensive and costs can be prohibitive. Further, labor costs account for up to 70% of total business costs and include, without limitation, employee wages, benefits, payroll or other related taxes. There may be no relief for businesses faced with the necessary employment costs of sales agents and customer service personnel.

*Key Highlights* 

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Voice Quality**: Vocodia provides AI with high-level voice quality
 and seeks to deliver superior service in the marketplace.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Quality Sales**: Vocodia uses the following sales and marketing
 strategy: Prospects – Qualifies – Closes – Processes Orders – Upsells. In this registration statement, we
 discuss how we generate more leads and more transfers to clients so they can sell or upsell their new leads and transfers on their
 products. Our customers can become more efficient by hiring DISA "fronters", rather than traditional "fronters".
 These traditional human "fronters" have served as the driving force in call centers making 150 or so calls daily to qualify
 potential clients. Once qualified, they then transfer the call to another department of the call center which handles the final transactional
 element of the sales call. The fronter position is the high turnover, low pay, very hard to hire, part for call centers that are
 the costliest and least productive. We automate this part of the process using AI to make these calls and AI only has to be trained
 once. AI never takes vacation, can call 24/7, costs 1/3 of human fronters. Thereby, companies receive the same level of sales expected
 from their top 85% of employees. Vocodia delivers effective, dependable, scalable to the hour, low variance sales and customer service
 solutions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Affordable**: AI sales agents (also known as AI bots) cost less
 than one-third of human sales agents without human issues that tend to affect the processes, human resources and bottom line.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Scalable**: Our software is cloud-based and Application Programming
 Interface ("API")-friendly, which is interoperable with third-party platforms. Vocodia offers companies scalable enterprise-level
 AI sales and customer service solutions which reduce human labor costs and responsibilities while increasing the reach and efficacy
 of human led, purposeful, agenda driven and conversational communications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Compliance**: DISAs parameters are set by our clients' needs
 and uploaded data. These inputs can include, but are not limited to, recordings, scripts and rebuttals supplied by a respective client.
 Vocodia uses our clients' data and trains their respective DISAs to converse with prospective customers, qualify them, and
 then transfer the call to a "closer" to sell to the customer. The AI/DISA can only say what they are trained and programmed
 to say. We believe this will lead to higher level of compliance, due to impromptu human error not being a factor for our DISAs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Speedy Training**: The AI can be trained in 3 days with: recordings
 of existing sales calls; and sales script for baseline and target goals. AI bots also continue to learn on the job from call interactions,
 thus machine learning progressively improves over time.

 

*Vocodia's Advantage*

Vocodia has created software that is intended to replicate the functions of human sales representatives, such as calling prospects by telephone, announcing the purpose of a call and reason for the call, and identifying interest in a conversational manner. The AI/platform can be programmed for each client to provide scalable solutions which can reduce sales inefficiencies and improve customer service results. We commoditize and standardize our AI solution to improve traditional sales and customer service support operations in order to meet our clients' sales and service goals.

Our proprietary software allows us to adjust our approach to the market, to either offer sales or customer service as a call center at competitive rates. On an hour-to-hour basis we can replace human sales and customer service agents in a cost-effective manner.

Market rates for sales and customer service agents can range from greater than $5.00 dollars per hour to less than $55 dollars per hour. Our platform allows us to control the cost to market rates of sales and customer service agents because machine accuracy and programming allow for significant reduction of costs across standard corporate departments such as human resources, legal, management, customer relations management software, compliance, commissions, real estate, equipment, supporting software, telecommunications and more.

We offer our platform to individual sales agents, customer service agents and small businesses, providing enterprise-level agent services for market tiers of all sizes and scope. Our software allows small, single-owner businesses the equivalent sales and service platform used by enterprise-level clients. We believe that the platform can equalize the opportunities available for smaller businesses and larger organizations.

*Additional Opportunities*

 

We plan on pursuing opportunities beyond our present goals of delivering sales and customer service software agents. We believe there may be other uses of our conversational AI software and platform, such as in the areas of education, including the areas of philosophy, and religion. In the long run, we envision a world in which businesses and consumers have conversational AIs, such as our DISAs, performing the tasks of humans—all the while—maximizing efficiencies in many fields and improving timing, quality, budget, and convenience, using automated tools. In short, Vocodia aims to make the world a better place by using our proprietary AI to improve current processes.

***Company Strategy***

*Technology* 

 

Vocodia, believes that it, has built, and continues to build, AI conversational systems that sound virtually the same as humans. Proprietary software and systems have been developed in-house from scratch with streamlined integration and a growing number of customer relationship managements ("CRMs") and platforms all over the world. Vocodia software utilizes Artificial Intelligence, Augmented Intelligence, Natural Language Processing and Machine Learning to provide a robust, continuously learning engine which can perform multiagent functions simultaneously. Vocodia software is cloud-based, permitting easy API integration with most systems and platforms commonly used by businesses today.

*Products*

 

Vocodia has developed and released its first software product and platform, which we refer to as "DISA" which is a humanized conversational AI technology DISA sales agent that can complete each stage of the conversational aspect of the sales process, business-to-business ("B2B") and business-to-consumer ("B2C").

Our prospects for direct software sales are any enterprise clients who are in the phone and call center markets. The initial sales targets were call centers who needed to replace poor performing staff in the pre-Covid-19 era. Now, our sales targets have shifted to filling empty seats in the call centers, which typically have an 80% turnover rate and cannot find enough quality candidates to hire. Our technology consists of a virtual agent, the DISA. In the current marketplace, we consider any company which has a 50-seat call center at a telephony location is a potential sales client. These potential clients span many industry verticals, including but not limited to, health, solar, employee retention credit, insurance, recruiting and real estate, automotive, cruise lines and hospitality and lodging.

Vocodia AI sales agents not only sell and serve prospects and customers, but also gather and report robust intelligence from customers and the marketplace. Vocodia's DISAs are programmed to instantly answer customer service calls and to upsell and provide personalized customer care.

***Development Strategy***

Vocodia plans three phases of development to become the largest and most profitable AI service provider, globally, in the next five years:

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Integrate AI sales agents and customer service offerings directly into
 existing enterprises and then via CRM applications;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Increase sales of AI-assisted workflow to more enterprises in a variety
 of functions and industries (e.g., food ordering, administration, accounting, bookkeeping and human resources). Grow revenue streams,
 including based upon market pricing where our DISAs can perform at advantageous margins such as notable efficiencies or less operational
 costs to achieve the same function to the satisfaction of the end customer (acquisitions may become a significant part of our growth
 strategy, but at this time we have not identified any specific candidates that meet our objectives); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Integrate personal AI assistants to individuals for overall life assistance,
 integrated with existing sales and other AI bots, to serve members of the community.

***Acquisition Strategy***

Our strategy includes seeking to aggressively pursue acquisitions, including companies with revenue streams where our DISAs can perform at advantageous margins such as noticeable efficiency or less operational costs to achieve the same function. The Company will concentrate on several important priorities in evaluating potential acquisition candidates, including the key considerations and objectives the Company hopes to achieve, which are listed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· acquiring beneficial technology or use;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· accelerating market share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· increasing revenue;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· enhancing efficiencies in product and service delivery;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· identifying and addressing possible threats to our organization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· acquiring access to targeted and specified client base;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· reducing client acquisition costs by reducing our demands on resources
 and time (opportunity costs);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· acquiring client bases from companies who have service relationships
 with consumers and acquisitions of companies with or without offerings of similar services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· reducing our client acquisition costs, preserving going rates of such
 services, and extending our wrapped services to such client base; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· maintaining Vocodia's dynamic pricing thereby potentially creating
 greater value opportunities and allows us to minimize market price arbitrage to maximize profit potential.

***Management and Operating Strategy***

Our management is market-receptive: as a new technology company, we seek to continuously identify new markets as well as industries where Vocodia's services would be beneficial to potential customers. We believe that our technologies offer businesses and consumers significant advantages, but our technology is not yet generally recognized. We remain open to discovering new opportunities to offer our technology solutions.

We believe that the Company has an attractive operating model due to the scalability of our AI platform, the recurring nature of our revenue (Software-as-a Service "(SaaS")) and the potentially high operating margins in our business. Vocodia relies on conversions to generate increased free cash flow. Conversions happen for us when our clients use our services to sell their products/services to their customers. Our operational structure and AI focus allow us to convert enterprise clients in their call center environments (allowing Vocodia to rapidly convert clients in a cost-effective manner).

Given the fixed-cost nature of our technology, DISAs allow us to scale our solutions quickly with low marginal costs. These DISAs can pitch and close, as well as manage full customer service operations, in high data interactive demand-based industries, all while providing a full human conversation experience to human customers. Most of our customer contracts have a term of 12 months, a monthly fee of $795 per DISA per month, and a minimum commitment of 10 DISAs. Additionally, we have a software setup fee of $8,000 to begin building a DISA for a client (i.e., one-time setup fee for each client campaign). We believe that our recurring revenue, combined with our robust sales pipeline and enterprise customer base, will continue to contribute to our long-term growth and strong operating margins, giving us flexibility to allocate capital for our continued success.

 ****

***Growth Strategy***

 ****

We believe that the Company is well positioned for continued growth across the various markets in the call center space. Our strategy for achieving growth includes the following:

<u>Build upon our extensive client relationships</u>

We have a diversified pipeline. Current clients include health insurance providers, health insurance recruiting new agents, employee retention credits, solar, real estate recruitment and real estate new clients. Through the development of our proprietary switch and technical team, we have the ability to scale our DISAs over time. We also intend to scale our client base by strategically adding new sales development personnel and customer service and support team members. We believe that we are in the early stages of penetrating this expanding market with our DISA technology platform. Key elements of this strategy include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· widely commercializing this new humanized conversational AI platform
 in the marketplace;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· increasing the enterprise client usage by increasing the number of
 DISAs per client;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· adding multi-channel capabilities to our platform in the form of text
 message, voicemail, social media (such as LinkedIn), etc. to increase connection rates; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· acquiring new strategic partners who bring enhanced complimentary technology
 and revenue to help us increase market share.

<u>Continue to innovate</u> 

We believe a significant opportunity exists to enhance our technology platform and analytics using our vast database. We intend to expand our technology services offerings to capitalize on the evolving call center and customer service environment. Our investments in human capital, technology and services capabilities position us to continue to pursue rapid innovation. Examples of our recent innovations include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Upgrading our own proprietary switch. Our platform depends on phone
 switch capability (generally voice over internet protocol switches) to generate the actual connection from AI to the customer on
 the outside. Thus, we are dependent on outside telecom switches and infrastructure to manage the speed of our connection pace. This
 dynamic creates operational risk, due to the reliance of each switch provider's technology and infrastructure limits. The bulk
 of our challenges come from switch uncertainty. Therefore, our goal is to improve our own company-controlled switch, which is critical
 to our economic health, growth and can facilitate easier delivery of services provided in each software sale. We believe this development
 would provide us with switch independence, allowing us to obtain more control, efficiency and certainty of delivery while lowering
 internal costs and managing traffic to external, non-company managed switches. The benefits of building our own switch allows us
 to scale faster in: the quantity of software licenses; variety of industries and verticals served; and the independent scale of service
 utilized by each individual software licensee (end user); and quantity of connections made by the hour.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Acquiring a predictive dialer with enhanced capabilities including
 speech-to-text ("STT") and "text-to-speech ("TTS") which assists us in implementing end-to-end solutions
 for all of our customers. As of the date of this prospectus, we have not come across any competitors that possess capabilities
 which replicate ours.

<u>Expand portfolio through strategic acquisitions</u> 

We have acquired, and expect to continue acquiring, assets and businesses that strengthen our value proposition to clients. We have developed an internal capability to source, evaluate and integrate acquisitions that have created value for our stockholders. We plan to target strategic acquisitions subsequent to the closing of this initial public offering, but we have not currently entered into any agreements for the acquisition of significant assets, businesses or companies. While there is no guarantee that any acquisition will be completed, successful acquisitions may bring a collection of complimentary technology and existing revenue to the Company. We also plan to continue to pursue strategic acquisitions to grow our platform and enhance our ability to provide more services to our clients. We also expect to seek favorable commercial opportunities, primarily in the areas of technological platforms, data suppliers and consulting services providers.

**Our Organizational Structure**

As of the date of this prospectus, the Company employs 14 personnel: 9 full time employees, 3 part time employees, and 2 contractors in connection with its business operations. The Company's organizational structure currently consists of four executive officers (the Chief Executive Officer, the Chief Financial Officer, Chief Operating Officer and Chief Technology), a Chief Strategy Officer, four employees in operations who work directly with the Chief Operating Officer, a software engineer and database engineer who work directly with the Chief Technology Officer, an executive assistant who assists the Chief Executive Officer and Chief Operating Officer with everyday tasks, and a bookkeeper and part-time advisor in the finance and accounting department. The current structure of the Company is illustrated below.

**Reverse Stock Split** 

A 1-for-20 Reverse Stock Split of the Company's common stock, $0.0001 par value per share, became effective on January 27, 2023. Pursuant to the Reverse Stock Split, every twenty (20) shares of common stock issued and outstanding upon the effectiveness of the Reverse Stock Split was combined and converted into one (1) share of Common Stock. No fractional shares shall be issued in connection with the Reverse Stock Split but shall be rounded up to the nearest whole number. The Reverse Stock Split shall have no effect on the authorized amount or par value of the common stock, preferred stock, or the currently issued and outstanding series of preferred stock and presently issued and outstanding preferred stock.

![](cm250_img03.jpg)

**Competition**

Vocodia operates in a competitive market with many competitors. The artificial intelligence and customer service market opportunity is large, and many companies compete in these sectors.

Vocodia is in the humanized conversational AI market. We are specifically in the call center market, changing the way call centers do business. Vocodia is helps fill the empty seats in call centers.

Vocodia is unique in the AI sector in that it has client service systems which allow for quicker delivery than competitors of partial or full replacement humans in conversation-dependent job functions. Vocodia utilizes its proprietary augmented and AI software to match, duplicate or reimagine specific conversation-dependent job functions. We create a unique system of individual agents for each customer. Vocodia also has a proprietary deployment platform which allows for agenda-driven conversations to be connected from 'computer' to humans over telephonic networks. Further, each conversation is recorded and timestamped, creating a deliverable recording and transcript of each exchange between computer and human client. Our greatest differentiator is the ability to scale up or down the quantity of human equivalent agents to meet client demands. Our platform permits speedy delivery, cost effective alternatives to traditional sales, marketing and market intelligence. We use agenda-driven, consumer-targeted engagement campaigns. We believe that our software and platform provides significant benefits to call centers, both commercial exchange services and independent internal call centers, regardless of their size.

Vocodia currently offers conversational software which initiates and manages communications. We provide DISAs (digital intelligent sales agents), our patented AI technology, a proprietary database, proprietary switch, dialer and STT/TTS (speech to text/text to speech). While we rely on a third-party to provide STT/TTS capability, we use it as a crucial element of our service and it has become a part of our proprietary package. To our knowledge, no other competitor provides this solution. We have one patent and six additional patents in process to cover our technology and the processes.

There are many potential competitors and new entrants may choose to enter the market at any time. Vocodia's goal is to get to market first with our total end-to-end solution and to gain a leading position in its sector.

![](cm250_img04.jpg)

Vocodia conversational AI software is a ready-to-market software-as-a-service model, requiring nothing more than permission, leads and script to deliver a full human-level automated sales agent, conducting all actions necessary to close sales with consumers, stands completely apart from all competition, as the service and function are turn-key and immediate.

Many of the competitors shown in graph 2 are from companies in the conversational ai space which are focused more on environment-level service providers, such as Microsoft Azure. Further, companies such as Five9 and 8x8 are agent service providers in terms of assisting human dependent services by providing VolP and wrapped communications tools to clients serving customers.

Additional indications that many companies placed in the competitor class are not actually so as company focus is the greatest differentiator, leaning market share potential in favor of Vocodia. Many stated companies in Vocodia's field of competition are more suited to be 1) Resellers, direct and white label of Vocodia DISA; 2) Acquisition candidates of Vocodia, or; 3) Strategic partners in market consumption. Many of the companies listed in this competitive analysis have been or are in discussion with Vocodia to cooperate in at least one of the capacities listed.

**Intellectual Property**

We regard some aspects of our internal operations, software, and documentation as proprietary. We rely primarily on a combination of contract and trade secret laws to protect our proprietary information. We believe, because of the rapid pace of technological change in the computer software industry, trade secret and copyright protections are less significant than factors such as the knowledge, ability, and experience of our employees, frequent software product enhancements, and the timeliness and quality of our support services. The source code for our proprietary software is protected as a trade secret. We enter into confidentiality or license agreements with our employees, consultants, and clients, and control access to and distribution of our software, documentation, and other proprietary information. We cannot guarantee that these protections will be adequate or that our competitors will not independently develop technologies that are substantially equivalent or superior to our technology.

We do not believe our software products or other proprietary rights infringe on the property rights of third parties. However, we cannot guarantee that third parties will not assert infringement claims against us with respect to current or future software products or that any such assertion may not require us to enter into royalty arrangements or result in costly litigation.

Our systems for transitioning telephony-based conversational sales and servicing interactions to and from an artificial intelligence engine, with decision processing, recording, and distribution completing a listen and response cycle in under 10 milliseconds.

The Vocodia system permits dynamic conversational exchange from a human (outside) through telephony (any, outside) to and from the system which controls the machine side of a conversation. Beginning with system telephony, operated by proprietary code (webhooks and API) for exchange of transmission between system telephony (middleware) and outside telephony network (existing outside infrastructure). The process inside the Vocodia system permitting artificial intelligence conversation is processed by an artificial intelligence engine (DISA) serving the function of multiple processes transacting in milliseconds to produce the machine-side conversation function .These processes include initiating made or received calls and other text type communications, connecting calls and other text type communications, listening to calls, listening, receiving voice transmission and text, driven by an AI engine (proprietary code), telephony switch driven by proprietary code, receiving voice transmission from outside consumer (human) (proprietary code), determination of intent (proprietary code), accessing intent libraries for most appropriate response (NLP. Proprietary code), processing response via neural voice or recording (proprietary code), and delivery of speech via system (proprietary code) to middleware and voice emission over telephony (proprietary code). Further, we utilize sent to speech so text engine (non-proprietary) and CDR updater for continuation of conversation and reporting of all statements on voice transmission or text in text based transmission.

Vocodia is also in the process of filing at least 6 additional patents based on the processes used in this environment. We seek to file provisional patents for each of our claims.

***Assignment of Certain Intellectual Property to the Company***

 ****

On August 1, 2022, Brian Podolak and James Sposato, each an officer and director of the Company, assigned to the Company (the "Parties") significant intellectual property pursuant to a Bill of Sale and Assignment entered into by the Parties ("Bill of Sale and Assignment"). The consideration for the assignment was 6,000,000 shares of the Company's common stock. Mr. Podolak and Mr. Sposato each received 3,000,000 shares, respectively. The intellectual property consists of various systems, software and other core technology used in the Company's business and operations.

**Government Regulation**

We are subject to a variety of domestic and foreign laws and regulations in the United States and abroad involving matters that are important to (or may otherwise impact) our various websites, such as broadband internet access, online commerce, privacy and data security, advertising, intermediary liability, consumer protection, taxation, worker classification and securities compliance. These domestic and foreign laws and regulations, which in some cases can be enforced by private parties in addition to government entities, are continually evolving and can be subject to significant change. As a result, the application, interpretation and enforcement of these laws and regulations (and any amended, proposed or new laws and regulations) are often uncertain, particularly in the Internet industry, and may vary from jurisdiction to jurisdiction and over time, which could result in conflicts with the current policies and practices of our websites.

Because we conduct substantially all of our business on the Internet, we are particularly sensitive to laws and regulations that could adversely impact the popularity or growth in use of the Internet and/or online products and services generally, restrict or otherwise unfavorably impact whether or how we may provide our products and services, regulate the practices of third parties upon which we rely to provide our products and services and/or undermine an open and neutrally administered Internet access. For example, in December 2017, the U.S. Federal Communications Commission adopted the Restoring Internet Freedom Order. This order, which was released in January 2018 and took effect in June 2018, reversed net neutrality protections in the United States that had been in place since 2015, including the repeal of specific rules against blocking, throttling or "paid prioritization" of content or services by Internet service providers. Also, Section 230 of the Communications Decency Act of 1996 ("Section 230"), which generally provides immunity for website publishers from liability for third party content appearing on their platforms and the good faith removal of third party content from their platforms that they may deem obscene or offensive (even if constitutionally protected speech), since its adoption has been (and continues to be) subject to a number of challenges. The immunities conferred by Section 230 could also be narrowed or eliminated through amendment, regulatory action or judicial interpretation. In 2018, the U.S. Congress amended Section 230 to remove certain immunities and most recently, in 2020, various members of the U.S. Congress introduced bills to further limit Section 230, and a petition was filed by a Department of Commerce entity with the Federal Communications Commission to commence a rulemaking to further limit Section 230. Any future adverse changes to Section 230 could result in additional compliance costs for us and/or exposure for additional liabilities.

Because we receive, store and use a substantial amount of information received from or generated by our users and subscribers, we are also impacted by laws and regulations governing privacy, the storage, sharing, use, processing, disclosure and protection of personal data and data security, primarily in the case of our operations in the United States and the European Union and the handling of personal data of users located in the United States and the European Union. Recent examples of comprehensive regulatory initiatives in the area of privacy and data security include a comprehensive European Union privacy and data protection reform, the General Data Protection Regulation (the "GDPR"), which became effective in May 2018. The GDPR, which applies to certain companies that are organized in the European Union or otherwise provide services to (or monitor) consumers who reside in the European Union, imposes significant penalties (monetary and otherwise) for non-compliance, as well as provides a private right of action for individual claimants. The GDPR will continue to be interpreted by European Union data protection regulators, which may require us to make changes to our business practices and could generate additional risks and liabilities. The European Union is also considering an update to its Privacy and Electronic Communications Directive to impose stricter rules regarding the use of cookies.

In addition, in October 2015, the European Court of Justice ("ECJ") invalidated the U.S.-EU Safe Harbor framework that had been in place since 2000 for the transfer of personal data from the European Economic Area (the "EEA") to the United States, and on July 16, 2020, the ECJ invalidated the EU-U.S. Privacy Shield as an adequate safeguard when transferring personal data from the EEA to the U.S. These regulations continue to evolve and may ultimately require us to devote resources towards compliance and/or make changes to our business practices to ensure compliance, all of which could be costly. Also, the exit from the European Union by the United Kingdom could result in the application of new and conflicting data privacy and protection laws and standards to our operations in the United Kingdom and our handling of personal data of users located in the United Kingdom. At the same time, many jurisdictions abroad in which we do business have already or are currently considering adopting privacy and data protection laws and regulations.

Moreover, while multiple legislative proposals concerning privacy and the protection of user information are being considered by the U.S. Congress and various U.S. state legislatures, certain U.S. state legislatures have already enacted privacy legislation, one of the strictest and most comprehensive of which is the California Consumer Privacy Act of 2018, which became effective on January 1, 2020 (the "CCPA"). The CCPA provides new data privacy rights for California consumers, and restricts the ability of certain of our websites to use personal California user and subscriber information in connection with their various products, services and operations. The CCPA also provides consumers with a private right of action for security breaches, as well as provides for statutory damages. In addition, on November 3, 2020, California voters approved Proposition 24, which amends certain provisions of the CCPA and becomes effects January 1, 2023, will further restrict the ability of certain of our websites to use personal California user and subscriber information in connection with their various products, services and operations and/or impose additional operational requirements on such websites. Lastly, the U.S. Federal Trade Commission has also increased its focus on privacy and data security practices, as evidenced by the first-of-its-kind, $5 billion dollar fine against a social media platform for privacy violations in 2019. As a result, we could be subject to various private and governmental claims and actions in this area.

As a provider of certain subscription-based products and services, we are also impacted by laws or regulations affecting whether and how our websites may periodically charge users for membership or subscription renewals. For example, the European Union Payment Services Directive, which became effective in 2018, could impact the ability of certain of our websites to process auto-renewal payments for, as well as offer promotional or differentiated pricing to, users who reside in the European Union. Similar laws exist in the U.S., including the federal Restore Online Shoppers Confidence Act and various U.S. state laws, and legislative and regulatory enactments or amendments are under consideration in a number of U.S. states.

We are also sensitive to the adoption of new tax laws. The European Commission and several European countries have recently adopted (or intend to adopt) proposals that would change various aspects of the current tax framework under which certain of our European websites are taxed, including proposals to change or impose new types of non-income taxes (including taxes based on a percentage of revenue).

We are also subject to laws, rules and regulations governing the marketing and advertising activities of our various websites conducted by or through telephone, email, mobile digital devices and the Internet, including the Telephone Consumer Protection Act of 1991, the Telemarketing Sales Rule, the CAN-SPAM act and similar state laws, rules and regulations, as well as local laws, rules and regulations and relevant agency guidelines governing background screening.

Further, all of our websites could subject to the Americans with Disabilities Act (the "ADA"). The ADA does not explicitly address online compliance. With no specific coverage under the law, it usually falls to the courts to determine how ADA standards apply to websites—or whether they do at all.

**Non-Government Regulation**

From a non-Governmental standpoint, we also need to comply with policies and terms of service on various platforms, including but not limited to: Facebook, Facebook Ads, Instagram, Pinterest, Google Ads, Google Search, Twitter, TikTok, and YouTube.

**Properties and Facilities**

Vocodia is the lessee in a 5-year and 4-month commercial lease agreement that commenced on August 1, 2021 and will expire on November 20, 2026, unless otherwise terminated by Vocodia or the lessor. The leased property is office space located at 6401 Congress Avenue, Suite #160, Boca Raton, Florida. The lessor to the agreement is Catex or Limited Partnership-I, a Florida limited partnership.

Vocodia's 6-month lease on its second office space, located at 6401 Congress Avenue, Suite #216, Boca Raton, Florida, commenced on February 3<sup>rd</sup>, 2022 and ended on August 3<sup>rd</sup> 2022. The lessor to the agreement is Boca Office Center, LLC, a Florida limited liability company.

**Legal Proceedings**

From time to time, we may be involved in various disputes and litigation matters that arise in the ordinary course of business. We are currently not a party to any material legal proceedings.

**Employees**

As of the date of this prospectus, the Company employs 14 personnel: 9 full time employees, 3 part time employees, and 2 contractors in connection with its business operations.

**Corporate History and Information**

Vocodia Holdings Corp was incorporated under the laws of the State of Wyoming on April 27, 2021.

Our principal executive office is located at 6401 Congress Avenue, Suite #160 Boca Raton, FL 33487. Our telephone number is (561) 484-5234. Our website address is *<u>https://vocodia.com</u>/* and our general email is sales@vocodia.com. The information contained on our website is not incorporated by reference into this prospectus, and you should not consider any information (nor use the same in deciding whether to purchase our common stock) contained on, or that can be accessed through, our website as part of this prospectus.

 ****

**MANAGEMENT**

The following table and biographical summaries set forth information, including principal occupation and business experience, about our executive officers and directors as of the date of this prospectus:

---

| | | |
|:---|:---|:---|
| **Name** | **Age** | **Positions** |
| Brian Podolak | 50 | Chief Executive Officer and Director |
| James Sposato | 56 | Chief Technology Officer and Director |
| Mark Terrill | 65 | Chief Operating Officer |
| Richard Shuster | 39 | Chief Financial Officer |
| Lourdes Felix | 55 | Independent Director Nominee |
| Randall Miles | 67 | Independent Director Nominee |
| Ned L. Siegel | 71 | Independent Director Nominee |

---

 ****

***Biographies***

**Brian Podolak, Chief Executive Officer and Director *—*** Brian Podolak is the co-founder of the Company and has served as the Chief Executive Officer and as director of the Company since its inception in 2021. An entrepreneur and IT engineer, his career has largely focused on sales and software for businesses globally. Brian Podolak has achieved $70M+ annual revenues in his past businesses, as well as developing enterprise sales, marketing platforms and enterprise call centers for b2b and b2c customers. Prior to founding the Company Brian Podolak served multiple roles at Arise Bioscience, including as Vice President of Sales and Marketing from 2019 to 2020 and Vice President of Sales from 2017 to 2019. Born in Yonkers, New York, Brian Podolak spent over 17 years in Costa Rica, and ran call centers of thousands of agents, handling enterprise clients. It is this experience, that led to his being the leader in humanized conversational AI. During this period, he and James Sposato developed advanced technology, which is the basis for Vocodia today. Brian Podolak holds an engineering degree from ATI, an electronics engineering technical school from which he graduated in 1992. He began his career at Inacom, gaining experience in marketing and sales management in the telecommunications field and call centers.

**James Sposato, Chief Technology Officer and Director** — James Sposato is the co-founder of the Company and has served as the CTO and as a director of the Company since its inception. An expert in software technology development and implementation, James Sposato has a keen understanding of how to create code to solve complex problems where no solution exists. He is responsible for creating and solidifying Vocodia's software and platforms. James Sposato developed the first software-based UPS manifest system – ShipFast and widely used banking and telecom software with easy operating end-user functionality. Before Vocodia, James Sposato was a Senior Software Developer for Arise BioScience from 2019 to 2021, and prior to that, he was CTO from 2017 to 2019 with X 989. Inc. James Sposato brings strong team building and management skills to develop and implement easily operated SaaS platforms. Born in Hollywood, Florida, James Sposato attended the University of Florida where he majored in Computer Science and Engineering. He began his professional career while still a student, writing assembler code solutions for local cable advertising companies. During this period, ShipFast was created and an entrepreneurial mindset was set in motion. James Sposato has gone on to write software for countless industries, manage many projects that rely on enterprise class solutions built to withstand high volume transactional loads, and built and sold several internet companies involving automated advertising and affiliate marketing and tracking.

**Richard Shuster, Chief Financial Officer** — Richard Shuster has served as the Chief Financial Officer of the Company since January 2022. Mr. Shuster is a seasoned executive that brings extensive experience in financial reporting, mergers and acquisitions, and capital raising for companies throughout the U.S. From start-ups to lower middle market companies, Mr. Shuster has worked with clients and employers in a variety of industries. Prior to Vocodia, Mr. Shuster served as the Vice President of Finance (formerly Chief Financial Officer) at Arise Bioscience, Inc. (formerly Grander Distribution LLC) from July 2017 to January 2020. Grander Distribution was an early-stage products company and predecessor to Arise, that he and his partners took from approximately $2M in annual sales to approximately $30M in annual sales, in less than two years. At the companies discussed hereinabove, he was responsible for all financial reporting in U.S. GAAP and IFRS, capital budgeting and planning, and capital raising activities. During this time, and since 2017, Mr. Shuster has also served as Managing Partner at 47 Capital Management, a private investment firm. Prior to these roles, Mr. Shuster's early career was spent in advisory, consulting, and financial reporting positions for lower middle market companies in a variety of industries and geographies. Mr. Shuster is a certified public accountant licensed in Florida, and holds a Bachelor of Science in Accounting from the University of Florida and a Master's degree in Accounting from Florida International University.

**Mark Terrill, Chief Operating Officer** — Mark Terrill has served as the Chief Operating Officer of the Company since August 2021. Before joining Vocodia, Mark Terrill was previously the chief executive officer of Lug Health from 2019 to 2021, the chief executive officer of Arc Devices from 2018 to 2020, President of PrimeCap Funding from 2016 to 2018, and the chief executive officer of 24/7 Global in 2018. Mark Terrill develops results driven improvements with a long-term viewpoint. His experience includes: driving revenues, managing sales, marketing and business development, manufacturing, financial and operations. He is skilled in customer and client facing roles and has expertise in eliminating roadblocks, streamlining operations, and growing margins as well as leadership in restoring or developing a culture for success.. Mark Terrill holds an MBA in Business and Executive Management from the University of Phoenix and Bachelor of Science degrees in Biological Science & Biology from the University of Maryland. Mark Terrill was born in San Francisco, California.

**Lourdes Felix, Director Nominee *—*** Lourdes Felix is a female Hispanic entrepreneur and corporate finance executive with 30 years of combined experience in capital markets, public accounting and in the private sector. She presently serves as Chief Executive Officer, Chief Financial Officer and Director of BioCorRx Inc. (OTCQB: BICX), a leader in addiction treatment solutions and related disorders. She has been with BioCorRx since October 2012. Lourdes is one of the founders and President of BioCorRx Pharmaceuticals Inc., a majority owned subsidiary of BioCorRx Inc. She has been instrumental in capital procurement, completing multi-million dollar equity financing and accomplished in structuring and negotiating transactions and favorable terms with investment banks. Along with other executives of the company, rebranded the Company and restructured and expanded the business model to position it for long term growth in the addiction treatment space and drug development. Extensive experience with clinic operations management. Prior to joining BioCorRx her experience was in the private sector, public accounting including audit and public company experience. She has expertise in finance, accounting, budgeting and internal control principals including GAAP, SEC, and SOX Compliance. Thorough knowledge of federal and state regulations. Successfully managed and produced SEC regulatory filings. She has extensive experience in developing and managing financial operations. Lourdes has provided treasury and cash management functions. Excellent leader with a track record of documented contributions leading to improved financial performance, heightened productivity, and enhanced internal controls. Led corporate relationships with various major accounting firms and attorneys in preparing SEC filings and audited financial statements. Lourdes is very active in the Hispanic community and speaks fluent Spanish. Lourdes holds a Bachelor of Science degree in Accounting from University of Phoenix. She is an MBA candidate at D'Amore-McKim School of Business, Northeastern University.

**Randall Miles, Director Nominee** — Randall Miles has served as our director since January 2023. For over 30 years, Mr. Miles has held senior executive leadership positions in global financial services, fintech and investment banking companies. His extensive investment banking experience advising companies on strategic and financial needs is complimented by leadership of high growth publicly traded and private equity backed companies. Mr. Miles has served as the Managing Partner of SCM Capital Group LLC, a global transaction and strategic advisory firm since January 2000, Vice Chairman of the board of directors of eXp World Holdings, Inc. (NASDAQ: EXPI) since 2016, a board member of RESAAS Services, Inc. (OTCQB: RSASF) (TSX: RSS) since November 2021 and Chairman of the board of Troika Media Group, Inc. (NAASDAQ: TRKA) since July 2022. Mr. Miles holds a Bachelor of Business Administration from University of Washington and FINRA licenses Series 7, 24, 63 and 79.

**Ambassador Ned L. Siegel, Director Nominee** — Ambassador Ned L. Siegel is the President of The Siegel Group, a multi-disciplined international business management advisory firm he founded in 1997 in Boca Raton, Florida, specializing in real estate, energy, utilities, infrastructure, financial services, oil and gas and cyber and secure technology. Ambassador Siegel has served since 2013 as Of Counsel to the law firm of Wildes & Weinberg, P.C. From October 2007 until January 2009, he served as the United States Ambassador to the Commonwealth of The Bahamas. Prior to his Ambassadorship, in 2006, he served with Ambassador John R. Bolton at the United Nations in New York, as the Senior Advisor to the U.S. Mission and as the United States Representative to the 61st Session of the United Nations General Assembly. From 2003 to 2007, Ambassador Siegel served on the Board of Directors of the Overseas Private Investment Corporation ("OPIC"), which was established to help U.S. businesses invest overseas, fostering economic development in new and emerging markets, complementing the private sector in managing the risk associated with foreign direct investment and supporting U.S. foreign policy. Appointed by Governor Jeb Bush, Ambassador Siegel served as a Member of the Board of Directors of Enterprise Florida, Inc. ("EFI") from 1999-2004. EFI is the state of Florida's primary organization promoting state wide economic development through its public-private partnership Ambassador Siegel presently serves on the Board of Directors of the following companies: CIM City, U.S. Medical Glove Company, Global Supply Team, Moveo, LLC and the Caribbean Israel Leadership Coalition, Caribbean Israel Venture Services, Inc. He also presently serves on the following Advisory Boards: Usecrypt, Brand Labs International, Elminda Ltd., Findings, and Sol Chip Ltd and Maridose, LLC. Ambassador Siegel received a B.A. from the University of Connecticut in 1973 and a J.D. from the Dickinson School of Law in 1976. In December 2014, he received an honorary degree of Doctor of Business Administration from the University of South Carolina. We believe that Ambassador Siegel's vast professional experience, education, and professional credentials qualify him to serve as a member of the Company's board directors, and as an independent member of the board's committees.

***Director Terms; Qualifications***

Members of our Board serve until the next annual meeting of stockholders, or until their successors have been duly elected.

When considering whether directors and nominees have the experience, qualifications, attributes and skills to enable the Board to satisfy its oversight responsibilities effectively in light of our Company's business and structure, the Board focuses primarily on the industry and transactional experience, and other background, in addition to any unique skills or attributes associated with a director.

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***Director or Officer Involvement in Certain Legal Proceedings***

There are no material proceedings to which any director or officer, or any associate of any such director or officer, is a party that is adverse to our Company or any of our subsidiaries or has a material interest adverse to our Company or any of our subsidiaries.

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***Directors and Officers Liability Insurance***

The Company has obtained directors' and officers' liability insurance insuring its directors and officers against liability for acts or omissions in their capacities as directors or officers, subject to certain exclusions. Such insurance also insures our Company against losses, which it may incur in indemnifying its officers and directors. In addition, officers and directors also have indemnification rights under applicable laws, and our Company's articles of incorporation and bylaws. We have also entered into customary separate indemnification agreements with our directors and officers.

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***Family Relationships***

There are no family relationships between any director, executive officer or person nominated to become a director or executive officer.

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***Director Independence***

The Nasdaq listing rules of The Nasdaq Stock Market LLC require that independent directors must comprise a majority of a listed company's Board. In addition, the rules of Nasdaq require that, subject to specified exceptions, each member of a listed company's audit, compensation, and nominating and governance committees be independent. Audit committee members must also satisfy the independence criteria set forth in Rule 10A-3 under the Exchange Act. Under the rules of Nasdaq, a director will only qualify as an "independent director" if, in the opinion of that company's board of directors, that person does not have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. The Nasdaq listing rules provide that a director cannot be considered independent if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the director is, or at any time during the past three (3) years was,
 an employee of the company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the director or a family member of the director accepted any compensation
 from the company in excess of $120,000 during any period of twelve (12) consecutive months within the three (3) years preceding the
 independence determination (subject to certain exemptions, including, among other things, compensation for board or board committee
 service);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the director or a family member of the director is a partner in, controlling
 shareholder of, or an executive officer of an entity to which the company made, or from which the company received, payments in the
 current or any of the past three fiscal years that exceed 5% of the recipient's combined gross revenue for that year or $200,000,
 whichever is greater (subject to certain exemptions);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the director or a family member of the director is employed as an executive
 officer of an entity where, at any time during the past three (3) years, any of the executive officers of the company served on the
 compensation committee of such other entity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the director or a family member of the director is a current partner
 of the company's outside auditor, or at any time during the past three (3) years was a partner or employee of the company's
 outside auditor, and who worked on the company's audit.

Our Board has undertaken a review of the independence of our directors and considered whether any director has a material relationship with it that could compromise his or her ability to exercise independent judgment in carrying out his or her responsibilities. Based upon information requested from and provided by each director concerning his background, employment and affiliations, including family relationships, the Board believes that, Lourdes Felix, Randall Miles, and Ned L. Siegel will be "independent" as that term is defined under the applicable rules and regulations of the SEC and the listing standards of Nasdaq. In making these determinations, our Board considered the current and prior relationships that each non-employee director has with our Company and all other facts and circumstances our Board deemed relevant in determining their independence, including the beneficial ownership of our Company's capital stock by each non-employee director, and any transactions involving them described in the section captioned "*Certain Relationships And Related Transactions*" in this prospectus.

**Board Committees**

Our Company's Board has established three standing committees: Audit, Compensation, and Nominating and Corporate Governance. Each of the committees operates pursuant to its charter. The responsibilities of each committee are described in more detail below.

Nasdaq permits a phase-in period of up to one year for an issuer registering securities in an initial public offering to meet the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee independence requirements. Under the initial public offering phase-in period, only one member of each committee is required to satisfy the heightened independence requirements at the time our registration statement becomes effective, a majority of the members of each committee must satisfy the heightened independence requirements within 90 days following the effectiveness of our registration statement, and all members of each committee must satisfy the heightened independence requirements within one year from the effectiveness of our registration statement.

 ****

***Audit Committee***

The Audit Committee's purpose and powers are, to the extent permitted by law, to (a) retain, oversee and terminate, as necessary, the auditors of our Company, (b) oversee our Company's accounting and financial reporting processes and the audit and preparation of our Company's financial statements, (c) exercise such other powers and authority as are set forth in the charter of the Audit Committee of the Board, and (d) exercise such other powers and authority as shall from time to time be assigned thereto by resolution of the Board. The Audit Committee also has the power to investigate any matter brought to its attention within the scope of its duties. It also has the authority to retain counsel and advisors to fulfill its responsibilities and duties.

The Board has affirmatively determined that each member who serves on the Audit Committee meets the additional independence criteria applicable to Audit Committee members under SEC rules and Nasdaq listing rules. Our Board has adopted a written charter setting forth the authority and responsibilities of the Audit Committee consistent with the purposes and powers set forth above, which will be available on our principal corporate website located at *www.vocodia.com* concurrently with the consummation of this offering. The information contained on our website is not incorporated by reference into this prospectus, and you should not consider any information (nor use the same in deciding whether to purchase our shares of common stock) contained on, or that can be accessed through, our website as part of this prospectus. The Board has affirmatively determined that Lourdes Felix shall serve as chair and each member of the Audit Committee is financially literate, which also include Randall Miles and Ned L. Siegel. All three members meet the qualifications of an audit committee financial expert within the meaning of Item 407(d) of Regulation S-K under the Securities Act. We believe that the functioning of the Audit Committee complies with the applicable requirements of the rules and regulations of the Nasdaq listing rules and the SEC.

 ****

***Compensation Committee***

The Compensation Committee's purpose and powers are, to the extent permitted by law, to (a) review and approve the compensation of the Chief Executive Officer of our Company and such other employees of our Company as are assigned thereto by the Board and to make recommendations to the Board with respect to standards for setting compensation levels, (b) exercise such other powers and authority as are set forth in a charter of the Compensation Committee of the Board, and (c) exercise such other powers and authority as shall from time to time be assigned thereto by resolution of the Board.

The Compensation Committee also has the power to investigate any matter brought to its attention within the scope of its duties. It also has the authority to retain counsel and advisors to fulfill its responsibilities and duties.

Our Board has adopted a written charter setting forth the authority and responsibilities of the Compensation Committee consistent with the purposes and powers set forth above, which will be available on our principal corporate website at *www.vocodia.com* concurrently with the consummation of this offering.

The Compensation Committee consists of Lourdes Felix, Randall Miles and Ned L. Siegel. Ned L. Siegel serves as chairman of the Compensation Committee. The Board has affirmatively determined that each member of the Compensation Committee meets the independence criteria applicable to Compensation Committee members under SEC rules and Nasdaq listing rules. The Company believes that the composition of the Compensation Committee meets the requirements for independence under, and the functioning of such Compensation Committee complies with, any applicable requirements of the rules and regulations of Nasdaq listing rules and the SEC.

 ****

***Nominating and Corporate Governance Committee***

The Nominating and Corporate Governance Committee's purpose and powers are, to the extent permitted by law, to: (a) identify potential qualified nominees for director and recommend to the Board for nomination candidates for the Board, (b) develop our Company's corporate governance guidelines and additional corporate governance policies, (c) exercise such other powers and authority as are set forth in a charter of the Nominating and Corporate Governance Committee of the Board, and (d) exercise such other powers and authority as shall from time to time be assigned thereto by resolution of the Board.

The Nominating and Corporate Governance Committee also has the power to investigate any matter brought to its attention within the scope of its duties. It also has the authority to retain counsel and advisors to fulfill its responsibilities and duties.

The Nominating and Corporate Governance Committee consists of Lourdes Felix, Randall Miles and Ned L. Siegel, Randall Miles serves as chairman of the Nominating and Corporate Governance Committee. Our Board has adopted a written charter setting forth the authority and responsibilities of the Nominating and Corporate Governance Committee consistent with the purposes and powers set forth above, which will be available on our principal corporate website located at *www.vocodia.com* concurrently with the consummation of this offering.

The Nominating and Corporate Governance Committee consists of Ned L. Siegel, Lourdes Felix and Randall Miles, Ned L. Siegel serves as chairperson. The Board has determined that each member of the Nominating and Corporate Governance Committee is independent within the meaning of the independent director guidelines of Nasdaq listing rules.

 ****

***Compensation Committee Interlocks and Insider Participation***

None of our Company's executive officers serves, or in the past has served, as a member of the board of directors or its compensation committee, or other committee serving an equivalent function, of any entity that has one or more executive officers who serve as members of our Board or its Compensation Committee. None of the members of our Company's compensation committee is, or has ever been, an officer or employee of our Company.

**Code of Conduct**

Effective upon the completion of this offering, our Board will adopt a new written Code of Conduct applicable to its employees, directors and officers, in accordance with applicable U.S. federal securities laws and the corporate governance rules of Nasdaq. The Code of Conduct will be available on our principal corporate website located at *www.vocodia.com* concurrently with the consummation of this offering. Any substantive amendments or waivers of the Code of Conduct or any similar code(s) subsequently adopted for senior financial officers may be made only by our Board and will be promptly disclosed as required by applicable U.S. federal securities laws and the corporate governance rules of Nasdaq. The information contained on our website is not incorporated by reference into this prospectus, and you should not consider any information (nor use the same in deciding whether to purchase our shares of common stock) contained on, or that can be accessed through, our website as part of this prospectus.

**Board Leadership Structure and Risk Oversight**

Our Board has responsibility for the oversight of our risk management processes and, either as a whole or through its committees, regularly discusses with management our major risk exposures, their potential impact on our business and the steps we take to manage them. The risk oversight process includes receiving regular reports from board committees and members of senior management to enable our Board to understand our risk identification, risk management, and risk mitigation strategies with respect to areas of potential material risk, including operations, finance, legal, regulatory, cybersecurity, strategic, and reputational risk.

**Corporate Governance Guidelines**

Effective upon the completion of this offering, our Board will adopt corporate governance guidelines in accordance with the corporate governance rules of Nasdaq, which will be available on our principal corporate website located at *www.vocodia.com* concurrently with the consummation of this offering. The information contained on our website is not incorporated by reference into this prospectus, and you should not consider any information (nor use the same in deciding whether to purchase our shares of common stock) contained on, or that can be accessed through, our website as part of this prospectus.

**Director Compensation**

During the years ended December 31, 2022 and 2021, we did not compensate our independent directors for their service to our Company.

Additionally, for the year 2023, our independent directors, which include Lourdes Felix, Randall Miles and Ned L. Siegel, will be compensated as follows:

*Lourdes Felix*

For the year 2023, Lourdes Felix will be compensated in cash in the amount of $44,000. Lourdes Felix will also receive a quarterly fee of an additional $3,750 for her service as audit committee chair. Additionally, Lourdes Felix will receive 20,000 RSUs. The RSUs shall vest with respect to twenty five percent (25%) of the total number of RSUs (5,000) on the Effective Date, and twenty-five (25%) thereafter every three (3) month anniversary of the Effective Date, subject to Director's continuous service to the Company through the applicable vesting date.

*Randall Miles*

For the year 2023, Randall Miles will be compensated in the amount of $120,000. Randall Miles will also receive a quarterly fee of an additional $3,000 for his service as compensation committee chair. Additionally, Randall Miles will receive 150,000 RSUs. The RSUs shall vest with respect to eight point three-three percent (8.33%) of the total number of RSUs (12,500) on the Effective Date and eight point three-three (8.33%) thereafter every three (3) month anniversary of the Effective Date until fully vested on the third (3<sup>rd</sup>) anniversary of the effective Date, subject to Director's continuous service to the Company through the applicable vesting date.

*Ned L. Siegel*

For the year 2023, Ned L. Siegel will be compensated in the amount of $44,000. Ned L. Siegel will also receive a quarterly fee of an additional $3,000 for his service as nominating and corporate governance committee chair. Additionally, Lourdes Felix will receive 20,000 RSUs. The RSUs shall vest with respect to twenty five percent (25%) of the total number of RSUs (5,000) on the Effective Date, and twenty-five (25%) thereafter every three (3) month anniversary of the Effective Date, subject to Director's continuous service to the Company through the applicable vesting date.

**Compensation of Non-Employee Directors**

Compensation for our directors is discretionary and is reviewed from time to time by our Board. Any determinations with respect to Board compensation are made by our Board. As of the date of this prospectus, we have not compensated our non-employee directors for their service to our Company and do not intend to do so upon the consummation of this offering.

**Our Controlled Company Status**

Because Mr. Podolak and Mr. Sposato each, individually, own 49.99% of the total shares outstanding. This percentage accounts for all of Mr. Sposato's common and preferred shares, as well. Accordingly, we expect to be a "controlled company" as of the completion of this Offering under the Nasdaq rules. A controlled company is not required to have a majority of independent directors or form an independent compensation or nominating and corporate governance committee. After this offering, incorporating the 2,142,858 shares of common stock, Mr. Podolak and Mr. Sposato each, individually, will still own 49.99% of the total voting shares outstanding.

However, we intend to have a majority of independent directors on our board of directors and do not currently intend to utilize the exemptions provided by the Nasdaq rules. Nevertheless, for as long as we remain a "controlled company," we could take advantage of these exemptions at any time. Accordingly, you may not have the same protections afforded to stockholders of companies that are subject to all of the Nasdaq Rules. In the event that we cease to be a "controlled company," we will be required to comply with these provisions within the transition periods specified in the Nasdaq Rules.

**EXECUTIVE COMPENSATION**

**Summary Compensation Table**

The following table sets forth the compensation paid to, or accrued by, our named executive officers during the fiscal years ended December 31, 2021 and 2022.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name and Principal Position** | **Year** | **Salary ($)<sup>(1)</sup>** | **Stock <br> awards ($)<sup>(2)</sup>** | **Total ($)** |
| Brian Podolak, Chief Executive Officer | 2022 | $150000 | $0 | $150000 |
|  | 2021 | $97269.37 |  | 97269.37 |
| James Sposato, Chief Technology Officer<sup>(3)</sup> | 2022 | $150000 | $0 | $150000 |
|  | 2021 | $97269.37 |  | 97269.37 |
| Mark Terrill, Chief Operating Officer<sup>(4)</sup> | 2022 | $175000 | $0 | $175000 |
|  | 2021 | $72916 |  | 72916 |
| Richard Shuster, Chief Financial Officer<sup>(5)</sup> | 2022 | $175000 |  | 175000 |
|  | 2021 | $14583 |  | 14583 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Salary amounts shown above are based on accrual of stock-based and annual compensation, where applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The aggregate grant date fair value of the stock award was computed in accordance with FASB ASC
 Topic 718.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) An additional stipend was granted to this executive for a car allowance. However, car allowance
 stipends granted to each executive did not, individually, exceed $10,000 per annum; thus, such stipends are excluded in the table
 above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Mr. Terrill joined Vocodia in 2021.

(5) Mr. Shuster joined Vocodia in December of 2021, which is why his salary was $14,583 for the year
 2021.

**2022 Equity Incentive Plan**

Our 2023 Equity Incentive Plan (the "Plan"), governs equity awards to our employees, directors, consultants and other eligible participants. The Plan reserves a total of 2,840,000 shares of common stock (giving effect to our reverse stock split at a ratio of 1-for-1000, which was effective on October 21, 2022, but not the proposed stock split for incentive awards). The maximum number of shares that are subject to awards under the Plan is subject to an annual increase on the first day of each fiscal year, in an amount equal to 8,500,000 or a number of shares of our common stock equal to 4% of the prior year's maximum number. Incentive awards generally may be issued to officers, key employees, consultants, and directors and include the grant of nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares and performance units.

**Employment Agreements**

On January 1, 2022, the Company and Mark Terrill entered into an Executive Employment Agreement, which, among other things, employs the Executive as Chief Operations Officer of the Company. Mr. Terrill shall be paid an initial salary of $175,000, plus an annual bonus in the amount of one percent (1%) of the net profits after tax of the Company.

On January 2, 2023, the Company and Brian Podolak entered into an Executive Employment Agreement, which, among other things, employs the Mr. Podolak as Chief Executive Officer of the Company. Mr. Podolak shall be paid an initial salary of $365,000, plus an annual bonus of 50% of the base salary for such fiscal year and shall be payable to the extend the applicable performance goals are achieved. Further, on the effective date, Mr. Podolak shall be awarded 150,000 shares of the Company's common stock issued upon execution of this Agreement. In addition, Mr. Podolak will be awarded an additional 200,000 stock options with an exercise price equal to the price of the Company's common stock as set forth in the final registration statement for the offering, vesting biannually (every 6 months) over twenty-four (24) months with the first installment vesting six (6) months after the closing of the Company's currently contemplated firm commitment underwritten public offering. Additionally, Mr. Podolak shall be awarded certain equity awards based on achieving the following milestones:

&nbsp;&nbsp;&nbsp;&nbsp;· 5,000
 shares of Company common stock upon the closing of each acquisition post the company's
 offering;

&nbsp;&nbsp;&nbsp;&nbsp;· 12,500
 shares of Company common stock upon the Company achieving a first time total market valuation
 of $100 Million or more;

&nbsp;&nbsp;&nbsp;&nbsp;· 12,500
 shares of Company common stock upon the Company achieving a first time total market valuation
 of $250 Million or more;

&nbsp;&nbsp;&nbsp;&nbsp;· 5,000
 shares of Company common stock upon the Company achieving a positive earnings before interest,
 taxes depreciation and amortization ("EBITDA") for the first time in any full
 calendar year; and

&nbsp;&nbsp;&nbsp;&nbsp;· 12,500
 shares of Company common stock upon the Company achieving a positive EBITDA of $10 million
 for the first time in any calendar year.

On January 2, 2023, the Company and James Sposato entered into an Executive Employment Agreement, which, among other things, employs Mr. Sposato as Chief Technology Officer of the Company. Mr. Sposato will be paid an initial salary of $365,000, plus an annual bonus of 50% of the base salary for such fiscal year and shall be payable to the extent the applicable performance goals are achieved. Further, on the effective date, Mr. Sposato will be awarded 150,000 shares of the Company's common stock issued upon execution of this Agreement. In addition, Mr. Sposato will be awarded an additional 200,000 stock options with an exercise price equal to the price of the Company's common stock as set forth in the final registration statement for the offering, vesting biannually (every 6 months) over twenty-four (24) months with the first installment vesting six (6) months after the closing of the Company's currently contemplated firm commitment underwritten public offering. Additionally, Mr. Sposato will be awarded certain equity awards based on achieving the following milestones:

&nbsp;&nbsp;&nbsp;&nbsp;· 5,000
 shares of Company common stock upon the closing of each acquisition post the Company's
 offering;

&nbsp;&nbsp;&nbsp;&nbsp;· 12,500
 shares of Company common stock upon the Company achieving a first time total market valuation
 of $100 million or more;

&nbsp;&nbsp;&nbsp;&nbsp;· 12,500
 shares of Company common stock upon the Company achieving a first time total market valuation
 of $250 million or more;

&nbsp;&nbsp;&nbsp;&nbsp;· 5,000
 shares of Company common stock upon the Company achieving a positive EBITDA for the first
 time in any full calendar year; and

&nbsp;&nbsp;&nbsp;&nbsp;· 12,500
 shares of Company common stock upon the Company achieving a positive EBITDA of $10 million
 for the first time in any calendar year.

**Director Compensation:** 

During the years ended December 31, 2022 and 2021, we did not compensate our independent directors for their service to our Company.

Additionally, for the year 2023, our independent directors, which include Lourdes Felix, Randall Miles and Ned L. Siegel, our plan is to compensate our independent directors as follows:

For the year 2023, Lourdes Felix will be paid $44,000 in cash. Additionally, Lourdes Felix will receive a $15,000 cash fee for her service as audit committee chair, along with 20,000 Restricted Stock Units ("RSUs"), as defined in the Form of Restricted Stock Unit Agreement.

For the year 2023, Randall Miles will be paid $120,000 in cash. Additionally, Randall Miles will receive a $12,000 cash fee for his service as compensation committee chair, along with 150,000 RSUs.

For the year 2023, Ned L. Siegel will be paid $44,000 in cash. Additionally, Ned L. Siegel will receive a $12,000 cash fee for his service as nominating and corporate governance committee chair, along with 20,000 RSUs.

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

The following table sets forth certain information with respect to the beneficial ownership of our common stock, as of January 27, 2023, by each of our directors, each of our executive officers, all of our current directors and executive officers as a group, and each person, or group of affiliated persons, who beneficially owned more than 5% of our common stock.

The number of shares of our common stock beneficially owned by each entity, person, director or executive officer is determined in accordance with the rules of the SEC, and the information is not necessarily indicative of beneficial ownership for any other purpose. Under such rules, beneficial ownership includes any shares over which the individual has sole or shared voting power or investment power. Except as otherwise indicated, and subject to applicable community property laws, the persons named in the table have sole voting and investment power with respect to all shares of common stock held by that person. The percentage of shares beneficially owned is computed on the basis of 3,232,429 shares of our common stock outstanding as of the date of this prospectus (this does not include 173,000 shares of common stock upon the exercise of the outstanding warrants; none of our officers or directors hold any of these outstanding warrants).

Shares of our common stock that a person has the right to acquire within 60 days of the date of this prospectus, are generally deemed outstanding for purposes of computing the percentage ownership of the person holding such rights, but are not deemed outstanding for purposes of computing the percentage ownership of any other person, except with respect to the percentage ownership of all directors and executive officers as a group.

---

| | | | |
|:---|:---|:---|:---|
| | **Percentage of Shares of Common Stock <br> Beneficially Owned** | **Percentage of Shares of Common Stock <br> Beneficially Owned** | **Percentage of Shares of Common Stock <br> Beneficially Owned** |
| <br>**Name** | **Shares Prior<br> Offering** | **Shares After <br> Offering** | **Percentage <br> After <br> Offering** |
| ***Directors and Executive Officers \**** |  |  |  |
| Brian Podolak <sup>(1)</sup> | 750000 | 750000 |  |
| James Sposato <sup>(1)</sup> | 750000 | 750000 |  |
| Mark Terrill <sup>(1)</sup> | 150000 | 150000 |  |
| Richard Shuster<sup>(1)</sup> | 150000 | 150000 |  |
| ***5% or More Shareholders:\**** |  |  |  |
| Life Line Distribution LLC<sup>(2)</sup> | 187500 | 187500 |  |
| Martin Taubman<sup>(3)</sup> | 187500 | 187500 |  |
| **Total for All Directors and Officers:\*\*** | 1800000 | 1800000 |  |

---

\*Data presented is as of the date of this prospectus.

\*\*The count of our common stock incorporates the preferred stock count, meaning one share of our preferred stock's voting power equates to the voting power of 1,000 shares of our common stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The addresses for Brian Podolak, James Sposato, Mark Terrill, and Richard
 Shuster for the purposes of this disclosure is 6401 Congress Ave, Suite #160, Boca Raton, FL 33487.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Life Line Distribution, wholly owned by Joseph Torres, owns 150,000
 shares of common stock and 37,500 shares of common stock warrants. The address of Life Line Distribution LLC is 1761 West Hillsborough
 Blvd., Deerfield Beach, FL 33432.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Martin Taubman, our Chief Strategy Officer, owns 150,000 shares of
 common stock and 37,500 shares of common stock warrants. The address of Martin Taubman is 1635 Renaissance Common Blvd., Apt. 209,
 Boynton Beach, FL 33426.

**CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS**

**Share of Common Stock Held by Legal Counsel**

Carmel, Milazzo & Feil LLP ("CMF"), counsel to the Company in connection with this initial public offering, owns 6,000 shares of our common stock. These shares were acquired on March 31, 2022, pursuant to CMF's retainer for legal representation for the restructuring and bridge offering for 6,000 shares of common stock due and earned upon execution the retainer.

**Transactions with Related Persons**

Except as described below and except for employment arrangements which are described under the section entitled "*Executive Compensation*" and "*Recent Sales Of Unregistered Securities*," since our inception, there has not been, nor is there currently proposed, any transaction in which we are or were a participant, the amount involved exceeds the lesser of $120,000 or 1% of the average of the total assets at December 31, 2021 and 2020, and any of our directors, executive officers, holders of more than 5% of our common stock or any immediate family member of any of the foregoing had or will have a direct or indirect material interest.

**Bill of Sale**

On August 1, 2022, Brian Podolak and James Sposato, each an officer and director of the Company, assigned to the Company (the "Parties") significant intellectual property pursuant to a Bill of Sale and Assignment entered into by the Parties ("Bill of Sale and Assignment"). The consideration for the assignment was 6,000,000 shares of the Company's common stock. Mr. Podolak and Mr. Sposato each received 3,000,000 shares, respectively. The intellectual property consists of various systems, software and other core technology used in the Company's business and operations.

**Contribution Agreement** 

CFM was formerly owned by James Sposato, who is an officer and director of the Company. CFM was acquired by the Company from Mr. Sposato per the Contribution Agreement, dated August 1, 2022. In the Contribution Agreement, Mr. Sposato ("Contributor"), has contributed, assigned, transferred and delivered to Vocodia, the outstanding capital stock of CFM and Vocodia has accepted the contributed shares from the Contributor. As full consideration for the Contribution, Vocodia has paid the Contributor consideration in the amount of $10.

**Related Person Transaction Policy** 

Prior to this offering, we have not had a formal policy regarding approval of transactions with related parties. We expect to adopt a related person transaction policy that sets forth our procedures for the identification, review, consideration and approval or ratification of related person transactions. The policy will become effective immediately upon the consummation of this offering. For purposes of our policy only, a related person transaction is a transaction, arrangement or relationship, or any series of similar transactions, arrangements or relationships, in which we and any related person are, were or will be participants in which the amount involved exceeds the lesser of $120,000 or one percent of our total assets at year-end for our last two completed fiscal years. Transactions involving compensation for services provided to us as an employee or director are not covered by this policy. A related person is any executive officer, director or beneficial owner of more than 5% of any class of our voting securities, including any of their immediate family members and any entity owned or controlled by such persons.

Under the policy, if a transaction has been identified as a related person transaction, including any transaction that was not a related person transaction when originally consummated or any transaction that was not initially identified as a related person transaction prior to consummation, our management must present information regarding the related person transaction to our audit committee, or, if audit committee approval would be inappropriate, to another independent body of our Board, for review, consideration and approval or ratification. The presentation must include a description of, among other things, the material facts, the interests, direct and indirect, of the related persons, the benefits to us of the transaction and whether the transaction is on terms that are comparable to the terms available to or from, as the case may be, an unrelated third party or to or from employees generally. Under the policy, we will collect information that we deem reasonably necessary from each director, executive officer and, to the extent feasible, significant stockholder to enable us to identify any existing or potential related-person transactions and to effectuate the terms of the policy. In addition, under our code of conduct, officers and directors will have an affirmative responsibility to disclose any transaction or relationship that reasonably could be expected to give rise to a conflict of interest. In considering related person transactions, our audit committee, or other independent body of our Board, will take into account the relevant available facts and circumstances including, but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the risks, costs and benefits to us;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact on a director's independence in the event that the
 related person is a director, immediate family member of a director or an entity with which a director is affiliated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the availability of other sources for comparable services or products; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the terms available to or from, as the case may be, unrelated third parties or to or from employees
 generally.

The policy requires that, in determining whether to approve, ratify or reject a related person transaction, our audit committee, or other independent body of our Board, must consider, in light of known circumstances, whether the transaction is in, or is not inconsistent with, our best interests and those of our stockholders, as our audit committee, or other independent body of our Board, determines in the good faith exercise of its discretion.

 ****

**DESCRIPTION OF SECURITIES**

 ****

***Authorized and Outstanding Capital Stock***

The following description of our Company's capital stock and provisions of our articles of incorporation, as amended ("articles of incorporation") and bylaws are summaries and are qualified by reference to our Company's articles of incorporation and bylaws which are filed as exhibits to the registration statement of which this prospectus forms a part.

We are incorporated in the State of Wyoming. The rights of our shareholders are generally covered by Wyoming law and our articles of incorporation and bylaws. The terms of our capital tock are therefore subject to Wyoming law, including applicable Wyoming Statues and the Constitution of the State of Wyoming.

As of the date of this prospectus, the total number of shares of all classes of capital stock that our Company is authorized to issue is 500,000,000 shares, consisting of (i) 476,000,000 shares of common stock, par value $0.0001 per share, and (ii) 24,000,000 shares of preferred stock.

As of the date of this prospectus, our Company had outstanding 3,232,429 shares of common stock held by approximately 62 stockholders of record, and 4,000,000 shares of preferred stock outstanding. The foregoing does not include the effects of 173,000 outstanding warrants.

**Common Stock**

As of the date of this filing, the Company has authorized the issuance of 476,000,000 shares of common stock par value $0.0001 per share, of which 3,232,429 shares are issued and outstanding. The holders of common stock are entitled to one vote per share on each matter submitted to a vote at any meeting of stockholders. Each share of our common stock is entitled to one vote per share. In the event of our liquidation, the shares of common stock are entitled to share equally in corporate assets after satisfaction of all liabilities.

Holders of common stock are entitled to receive such dividends as the board of directors may, from time to time, declare out of funds legally available for the payment of dividends. We seek growth and expansion of our business through the reinvestment of profits, if any, and do not anticipate that we will pay any dividends in the foreseeable future.

**Preferred Stock**

Our Articles of Amendment to the Articles of Incorporation, dated October 21, 2022, provide that each share of preferred stock is entitled to 1,000 votes per share.

**Warrants**

The Company issued warrant securities in three exempt private offerings, all of which had warrant terms and conditions whose exercise periods have now expired.

(1) The Company's private offering for 2,000,000 shares of the Company's common stock for $1,150,000, which was open until June 25, 2021. The Subscription Purchase Agreement (the "SPA A") matched each share of common stock purchased by a subscriber for $.50 per share, with a warrant to purchase one share of the Company's common stock at an exercise price of $1.00. The warrant exercise period and the subscription period for SPA A have both expired.

(2) The Company's private offering for 2,500,000 shares of the Company's common stock for $5,000,000 which was open until September 28, 2021. The Subscription Purchase Agreement (the "SPA B") matched each share of common stock purchased by a subscriber for $2.00 per share, with a warrant to purchase one share of the Company's common stock at an exercise price of $2.00. The warrant exercise period and the subscription period for the SPA B have both expired.

***Listing***

 

We are seeking to list our common stock on the Nasdaq upon our satisfaction of the exchange's initial listing criteria. Upon approval to list our common stock on the Nasdaq Capital Market and we anticipate that the shares of common stock, will be listed on the Nasdaq under the symbol "VOCO". No assurance can be given that our application will be approved. If our common stock is not approved for listing on the Nasdaq, we will not consummate this offering.

 ****

***Transfer Agent***

The Company's transfer agent is Vstock Transfer, LLC, with an address of 18 Lafayette Place, Woodmere, NY 11598. The phone and fax numbers for the transfer agent are (212) 828-8436 and (646) 536-3179, respectively. The email address for the transfer agent is: info@vstocktransfer.com. Further information about the transfer agent is available at the website located at: <u>https://www.vstocktransfer.com/</u>

 ****

***Indemnification of Directors and Officers***

Each of our articles of incorporation and our bylaws provide for indemnification of our directors and officers. Our articles of incorporation and bylaws provide that we must indemnify our directors and officers to the fullest extent permitted by the Wyoming Business Corporation Act and must indemnify against all expenses, liability, and loss incurred in investigating, defending or participating in such proceedings. We have also entered into separate indemnification agreements with our directors and officers.

 ****

***Disclosure of Commission Position on Indemnification for Securities Act Liabilities***

Insofar as indemnification for liabilities under the Securities Act may be permitted to officers, directors or persons controlling our Company pursuant to the foregoing provisions, our Company has been informed that is it is the opinion of the Securities and Exchange Commission that such indemnification is against public policy as expressed in such Securities Act and is, therefore, unenforceable.

**MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS** 

The following is a summary of the material U.S. federal income tax consequences to non-U.S. holders (as defined below) of the ownership and disposition of our common stock but does not purport to be a complete analysis of all the potential tax considerations relating thereto. This summary is based upon the provisions of the Internal Revenue Code of 1986, as amended, (the "Internal Revenue Code"), Treasury regulations promulgated thereunder, administrative rulings and judicial decisions, all as in effect as of the date hereof. These authorities may be changed, possibly retroactively, so as to result in U.S. federal income tax consequences different from those set forth below. No ruling on the U.S. federal, state, or local tax considerations relevant to our operations or to the purchase, ownership or disposition of our shares, has been or will be requested from the Internal Revenue Service (the "IRS") or other tax authority. No assurance can be given that the IRS would not assert, or that a court would not sustain, a position contrary to any of the tax consequences described below.

This summary also does not address the tax considerations arising under the laws of any non-U.S., state or local jurisdiction, or under U.S. federal gift and estate tax laws, except to the limited extent set forth below. In addition, this discussion does not address tax considerations applicable to an investor's particular circumstances or to investors that may be subject to special tax rules, including, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· banks, insurance companies or other financial institutions, regulated
 investment companies or real estate investment trusts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· persons subject to the alternative minimum tax or Medicare contribution tax on net investment income;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· tax-exempt organizations or governmental organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· controlled foreign corporations, passive foreign investment companies
 and corporations that accumulate earnings to avoid U.S. federal income tax;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· brokers or dealers in securities or currencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· traders in securities that elect to use a mark-to-market method of
 accounting for their securities holdings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· persons that own, or are deemed to own, more than five percent of our
 capital stock (except to the extent specifically set forth below);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· U.S. expatriates and certain former citizens or long-term residents of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· partnerships or entities classified as partnerships for U.S. federal
 income tax purposes or other pass-through entities (and investors therein);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· persons who hold our common stock as a position in a hedging transaction,
 "straddle," "conversion transaction" or other risk reduction transaction or integrated investment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· persons who hold or receive our common stock pursuant to the exercise
 of any employee stock option or otherwise as compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· persons who do not hold our common stock as a capital asset within
 the meaning of Section 1221 of the Internal Revenue Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· persons deemed to sell our common stock under the constructive sale
 provisions of the Internal Revenue Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· tax-qualified retirement plans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· "qualified foreign pension funds" as defined in Section
 897(l)(2) of the Internal Revenue Code and entities all of the interests of which are held by qualified foreign pension funds; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· persons subject to U.S. federal income special tax accounting rules
 as a result of any item of gross income with respect to our common stock being taken into account in an applicable financial statement.

In addition, if a partnership or entity classified as a partnership for U.S. federal income tax purposes holds our common stock, the tax treatment of a partner generally will depend on the status of the partner and upon the activities of the partnership. Accordingly, partnerships that hold our common stock, and partners in such partnerships, should consult their tax advisors.

**You are urged to consult your tax advisor with respect to the application of the U.S. federal income tax laws to your particular situation, as well as any tax consequences of the purchase, ownership and disposition of our common stock arising under the U.S. federal estate or gift tax rules or under the laws of any state, local, non-U.S., or other taxing jurisdiction or under any applicable tax treaty. The information provided herein does not constitute tax advice.**

 ****

***Non-U.S. Holder Defined***

For purposes of this discussion, you are a non-U.S. holder (other than a partnership) if you are any holder other than:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· an individual citizen or resident of the United States (for U.S. federal income tax purposes);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· a corporation or other entity taxable as a corporation created or organized
 in the United States or under the laws of the United States, any state thereof, or the District of Columbia, or other entity treated
 as such for U.S. federal income tax purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· an estate whose income is subject to U.S. federal income tax regardless of its source; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· a trust (x) whose administration is subject to the primary supervision
 of a U.S. court and which has one or more "U.S. persons" (within the meaning of Section 7701(a)(30) of the Internal Revenue
 Code) who have the authority to control all substantial decisions of the trust or (y) which has made a valid election to be treated
 as a U.S. person.

 ****

***Distributions***

As described in the section entitled "*Dividend Policy*," we have never declared or paid cash dividends on our common stock and do not anticipate paying any dividends on our common stock in the foreseeable future. However, if we do make distributions on our common stock, those payments will constitute dividends for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles. To the extent those distributions exceed both our current and our accumulated earnings and profits, the excess will constitute a return of capital and will first reduce your basis in our common stock, but not below zero, and then will be treated as gain from the sale of stock as described below under "*Gain on Disposition of Common Stock*."

Subject to the discussion below on effectively connected income, backup withholding and foreign accounts, any dividend paid to you generally will be subject to U.S. withholding tax either at a rate of 30% of the gross amount of the dividend or such lower rate as may be specified by an applicable income tax treaty. In order to receive a reduced treaty rate, you must provide us with an IRS Form W-8BEN, IRS Form W-8BEN-E or other appropriate version of IRS Form W-8 certifying qualification for the reduced rate. A non-U.S. holder of shares of our common stock eligible for a reduced rate of U.S. withholding tax pursuant to an income tax treaty may obtain a refund or credit of any excess amounts withheld by timely filing an appropriate claim for refund with the IRS. If the non-U.S. holder holds the stock through a financial institution or other agent acting on the non-U.S. holder's behalf, the non-U.S. holder will be required to provide appropriate documentation to the agent, which then will be required to provide certification to us or our paying agent, either directly or through other intermediaries.

Dividends received by you that are effectively connected with your conduct of a U.S. trade or business (and, if required by an applicable income tax treaty, attributable to a permanent establishment maintained by you in the United States) are generally exempt from such withholding tax if certain certification and disclosure requirements are satisfied. In order to obtain this exemption, you must provide us with an IRS Form W-8ECI or other applicable IRS Form W-8 properly certifying such exemption. Such effectively connected dividends, although not subject to withholding tax, are taxed at the same graduated rates applicable to U.S. persons, net of certain deductions and credits. In addition, if you are a corporate non-U.S. holder, dividends you receive that are effectively connected with your conduct of a U.S. trade or business may also be subject to a branch profits tax at a rate of 30% or such lower rate as may be specified by an applicable income tax treaty. You should consult your tax advisor regarding any applicable tax treaties that may provide for different rules.

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***Gain on Disposition of Common Stock***

Subject to the discussion below regarding backup withholding and foreign accounts, you generally will not be required to pay U.S. federal income tax on any gain recognized upon the sale or other disposition of our common stock unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the gain is effectively connected with your conduct of a U.S. trade
 or business (and, if required by an applicable income tax treaty, the gain is attributable to a permanent establishment maintained
 by you in the United States);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· you are a non-resident alien individual who is present in the United
 States for a period or periods aggregating 183 days or more during the taxable year in which the sale or disposition occurs
 and certain other conditions are met; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· our common stock constitutes a United States real property interest
 by reason of our status as a "United States real property holding corporation," or USRPHC, for U.S. federal income tax
 purposes at any time within the shorter of (i) the five-year period preceding your disposition of our common stock, or (ii) your
 holding period for our common stock.

We believe that we are not currently and will not become a USRPHC for U.S. federal income tax purposes, and the remainder of this discussion so assumes. However, because the determination of whether we are a USRPHC depends on the fair market value of our U.S. real property relative to the fair market value of our other business assets, there can be no assurance that we will not become a USRPHC in the future. Even if we become a USRPHC, however, as long as our common stock is regularly traded on an established securities market, such common stock will be treated as U.S. real property interests only if you actually or constructively hold more than five percent of such regularly traded common stock at any time during the shorter of the five-year period preceding your disposition of, or your holding period for, our common stock.

If you are a non-U.S. holder described in the first bullet above, you will be required to pay tax on the net gain derived from the sale under regular graduated U.S. federal income tax rates, and a corporate non-U.S. holder described in the first bullet above also may be subject to the branch profits tax at a 30% rate, or such lower rate as may be specified by an applicable income tax treaty. If you are an individual non-U.S. holder described in the second bullet above, you will be required to pay a flat 30% tax (or such lower rate specified by an applicable income tax treaty) on the gain derived from the sale, which gain may be offset by U.S. source capital losses for the year (provided you have timely filed U.S. federal income tax returns with respect to such losses). You should consult any applicable income tax or other treaties that may provide for different rules.

 ****

***Federal Estate Tax***

Our common stock beneficially owned by an individual who is not a citizen or resident of the United States (as defined for U.S. federal estate tax purposes) at the time of their death will generally be includable in the decedent's gross estate for U.S. federal estate tax purposes and therefore, may be subject to U.S. federal estate tax, unless an applicable estate tax treaty provides otherwise. Estate tax treaties between the U.S. and other countries often provide more favorable tax treatment to nonresidents by limiting the type of asset considered situated in the U.S. and subject to U.S. estate taxation. The test for whether an individual is a resident of the United States for U.S. federal estate tax purposes differs from the test used for U.S. federal income tax purposes. Some individuals, therefore, may be non-U.S. holders for U.S. federal income tax purposes, but not for U.S. federal estate tax purposes, and vice versa. The gross estate of a non-U.S. Holder domiciled outside the United States includes only property situated in the United States. Individual non-U.S. Holders should consult their tax advisors regarding the U.S. federal estate tax consequences of holding the securities at death.

***Backup Withholding and Information Reporting***

Generally, we must report annually to the IRS the amount of dividends paid to you, your name and address and the amount of tax withheld, if any. A similar report will be sent to you. Pursuant to applicable income tax treaties or other agreements, the IRS may make these reports available to tax authorities in your country of residence.

Non-US holders generally are not subject to US information reporting or backup withholding. However, payments received in the United States or through US-related financial intermediaries of dividends or of proceeds on the disposition of stock made to you generally would be subject to information reporting and backup withholding at a current rate of 24% unless you establish an exemption, for example, by properly certifying your non-U.S. status on an IRS Form W-8BEN, IRS Form W-8BEN-E or another appropriate version of IRS Form W-8. Persons in doubt as to the necessity of furnishing any of these forms should consult their own tax advisors.

Backup withholding is not an additional tax; rather, the U.S. federal income tax liability of persons subject to backup withholding will be reduced by the amount of tax withheld. If withholding results in an overpayment of taxes, a refund or credit may generally be obtained from the IRS, provided that the required information is furnished to the IRS in a timely manner.

 ****

***Foreign Account Tax Compliance***

The Foreign Account Tax Compliance Act ("FATCA") imposes a U.S. federal income withholding tax at a rate of 30% on dividends on and gross proceeds from the sale or other disposition of our common stock paid to "foreign financial institutions" (as specially defined under these rules), unless such institution enters into an agreement with the U.S. government to withhold on certain payments and to collect and provide to the U.S. tax authorities substantial information regarding the U.S. account holders of such institution (which includes certain equity and debt holders of such institution, as well as certain account holders that are foreign entities with U.S. owners) or otherwise establishes an exemption. FATCA also generally imposes a U.S. federal withholding tax of 30% on dividends on and gross proceeds from the sale or other disposition of our common stock paid to a "non-financial foreign entity" (as specially defined for purposes of these rules) unless such entity provides the withholding agent with a certification identifying certain substantial direct and indirect U.S. owners of the entity, certifies that there are none or otherwise establishes an exemption. While withholding under FATCA would have applied to payments of gross proceeds from the sale or other disposition of stock on or after January 1, 2019, proposed Treasury Regulations eliminate FATCA withholding on payments of gross proceeds entirely. Taxpayers generally may rely on these proposed Treasury Regulations until final Treasury Regulations are issued. An intergovernmental agreement between the United States and an applicable foreign country may modify the requirements described in this paragraph. Non-U.S. holders should consult their tax advisors regarding the possible implications of this legislation and any applicable intergovernmental agreements on their investment in our common stock.

**Each prospective investor should consult its tax advisor regarding the particular U.S. federal, state and local and non-U.S. tax consequences of purchasing, holding and disposing of our common stock, including the consequences of any proposed change in applicable laws.**

**SHARES ELIGIBLE FOR FUTURE SALE**

Prior to this offering, there has been no public market for our common stock, and a liquid trading market for our common stock may not develop or be sustained after this offering. Future sales of substantial amounts of our common stock in the public market, or the anticipation of these sales, could materially and adversely affect market prices prevailing from time to time, and could impair our ability to raise capital through sales of equity or equity-related securities.

Only a limited number of shares of our common stock will be available for sale in the public market for a period of several months after completion of this offering due to contractual and legal restrictions on resale described below. Nevertheless, sales of a substantial number of shares of our common stock in the public market after such restrictions lapse, or the perception that those sales may occur, could materially and adversely affect the prevailing market price of our common stock. Although we are seeking to list our common stock on Nasdaq, we cannot assure you that our common stock will be listed on Nasdaq and if listed, there will be an active market for our common stock.

Of the shares to be outstanding immediately after the completion of this offering, we expect that the shares to be sold in this offering will be freely tradable without restriction under the Securities Act unless purchased by our "affiliates," as that term is defined in Rule 144 under the Securities Act, which generally includes officers, directors or 10% stockholders. These restricted securities may be sold in the public market only if registered or pursuant to an exemption from registration, such as Rule 144.

As of the date of this prospectus, there are 3,232,429 shares of common stock outstanding of which, does not include the non-convertible preferred shares, which equates to 4,000,000 shares that are beneficially owned by officers and directors of the Company. This also does not include the 173,000 outstanding warrants.

**Lock-up Agreements**

All of our directors, executive officers and our security holders are subject to lock-up agreements that, subject to certain exceptions, prohibit them from directly or indirectly offering, pledging, selling, contracting to sell, selling any option or contract to purchase, purchasing any option or contract to purchase, granting any option, right or warrant to purchase or otherwise transferring or disposing of any shares of our common stock, options to acquire shares of our common stock or any securities convertible into or exercisable or exchangeable for common stock, whether now owned or hereafter acquired, or entering into any swap or any other agreement or any transaction that transfer, in whole or in part, directly or indirectly, the economic consequence of ownership, for a period of six months following the effective date of the registration statement for this offering, without the prior written consent of the representative of the underwriters. These agreements are described in the section entitled *"Underwriting."*

**Rule 144**

 ****

***Affiliate Resales of Restricted Securities***

Company affiliates must generally comply with Rule 144 if they wish to sell any shares of our common stock in the public market, whether or not those shares are "restricted securities." "Restricted securities" are any securities acquired from us or one of our affiliates in a transaction not involving a public offering. All shares of our common stock issued prior to the closing of the offering made hereby, are considered to be restricted securities. The shares of our common stock sold in this offering are not considered to be restricted securities.

A person who has beneficially owned restricted shares of our common stock for at least six months in the event we have been a reporting company under the Exchange Act for at least ninety (90) days before the sale and is an affiliate of ours at such time would be entitled to sell within any three-month period only a number of shares that does not exceed the greater of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 1% of the number of shares of our common stock then outstanding; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 1% of the average weekly trading volume of our common stock during
 the four calendar weeks preceding the filing by such person of a notice on Form 144 with respect to the sale; *provided* that,
 in each case, we are subject to the periodic reporting requirements of the Exchange Act for at least 90 days before the sale. Rule
 144 trades must also comply with the manner of sale, notice and other provisions of Rule 144, to the extent applicable.

 ****

***Non-Affiliate Resales of Restricted Securities***

Any person or entity who is not an affiliate of ours and who has not been an affiliate of ours at any time during the three months preceding a sale is only required to comply with Rule 144 in connection with sales of restricted shares of our common stock.

Further, beginning 90 days after the effective date of the registration statement of which this prospectus is a part, a person who is not an affiliate of ours at the time such person sells shares of our common stock, and has not been an affiliate of ours at any time during the three months preceding such sale, and who has beneficially owned such shares of our common stock, as applicable, for at least six months but less than a year, is entitled to sell such shares so long as there is adequate current public information, as defined in Rule 144, available about us.

Resales of restricted shares of our common stock by non-affiliates are not subject to the manner of sale, volume limitation or notice filing provisions of Rule 144, described above.

**UNDERWRITING**

Alexander Capital, L.P. is acting as the sole book-running manager of the offering and as representative of the underwriters named below. Subject to the terms and conditions of the underwriting agreement dated the date of this prospectus, the underwriters named below, through the representative, have severally agreed to purchase, and we have agreed to sell to the underwriters, the following respective number of shares of common stock set forth opposite the underwriter's name.

---

| | |
|:---|:---|
| **Underwriters** | **Number of<br> Shares** |
| Alexander Capital, L.P. |  |
| Total |  |

---

We intend to enter into an underwriting agreement with the Representative in connection with this initial public offering. Subject to the terms and conditions of the underwriting agreement, the underwriters will buy all of the shares of our common stock if they buy any of them. However, the underwriters are not required to take or pay for the shares of common stock covered by the underwriters' overallotment option as described below. Our shares are offered subject to a number of conditions, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· receipt and acceptance of our shares of common stock by the underwriters; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the underwriters' right to reject orders in whole or in part.

**Over-allotment Option**

If the underwriters sell more shares than the total number set forth in the table above, we have granted to the Representative an option, exercisable for 45 days from the date of this prospectus, to purchase up to 15% or additional shares at the initial public offering price less the underwriting discount. The underwriters may exercise this option solely for the purpose of covering over-allotments, if any, in connection with this offering. Any shares issued or sold under the option will be issued and sold on the same terms and conditions as the other shares that are the subject of this offering.

**Underwriting Discount**

Shares sold by the underwriters to the public will initially be offered at the initial public offering price set forth on the cover of this prospectus. Any shares sold by the underwriters to securities dealers may be sold at a discount from the initial public offering price not to exceed $ per share. If all of the shares are not sold at the initial offering price, the Representative may change the initial public offering price and the other selling terms. The underwriters have advised us that they do not intend to make sales to discretionary accounts.

The underwriting discount is equal to the initial public offering price per share, less the amount paid by the underwriters to us per share. The underwriting discount was determined through an arms' length negotiation between us and the underwriters. We have agreed to sell the shares to the underwriters at the initial public offering price of $ per share, which represents the initial public offering price of our shares set forth on the cover page of this prospectus, which includes a seven percent (7%) underwriting discount. In the event any proceeds are received by the Company in the offering from investors identified and introduced by the Company, then the underwriting fee shall be reduced to four percent (4%) of the gross proceeds for those investors.

The following table shows the per share and total underwriting discount we will pay to the underwriters assuming both no exercise and full exercise of the underwriters' option to purchase up to additional shares.

---

| | | |
|:---|:---|:---|
|  | **No<br> Exercise** | **Full<br> Exercise** |
| Per Share | $— | $— |
| Total | $— | $— |

---

We have agreed to pay the underwriters out-of-pocket accountable expenses, including fees and disbursements of their counsel, with respect to this offering, up to a maximum amount of $125,000, subject total actual accountable expenses up to $175,000. We have paid $15,000 to the Representative as an advance to be applied towards reasonable out-of-pocket expenses (the "Advance"). Any portion of the Advance shall be returned back to us to the extent not actually incurred. Additionally, one percent (1%) of the gross proceeds of the offering will be provided to the underwriters for non-accountable expenses.

We estimate that the total accountable expenses of the offering payable by us, not including the underwriting discount, will be approximately $.

**Determination of Initial Public Offering Price**

Before this offering, there has been no public market for our common stock. Accordingly, the initial public offering price for the shares was negotiated between us and the Representative. Among the factors considered in these negotiations were:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the information set forth in this prospectus and otherwise available
 to the underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the prospectus for our Company and the industry in which we operate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· an assessment of our management;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· our past and present financial and operating performance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· our prospectus for future earnings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· financial and operating information and market valuations of publicly
 traded companies engaged in activities similar to ours;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the prevailing conditions of the United States securities markets at
 the time of this offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· other factors deemed relevant

Neither we nor the Representative can assure investors that an active trading market will develop for shares of our common stock, or that the shares will trade in the public market at or above the initial public offering price.

**Representative's Warrants**

In addition, pursuant to the underwriting agreement with the Representative, we agreed to issue warrants to the Representative or its designees to purchase a number of shares of our common stock equal to three percent (3%) of the aggregate number of shares of our common stock sold in this offering (including shares of common stock sold to cover over-allotments, if any). We are registering hereby the issuance of Representative's Warrants and the shares of common stock issuable upon exercise of such warrants. Representative's Warrants will be exercisable until the fifth anniversary date of the effective date of the registration statement (the "Warrant Exercise Term"). The Representative agrees that during the (1) year period following the effective date of the registration statement of which this prospectus forms a part, it will not transfer the Representative's Warrants or the underlying shares of our common stock, except to the officers, partners or members of the Representative. Representative's Warrants will be subject to a lock-up restriction pursuant to FINRA Rule 5110(e)(1) for a period of 180 days following the effective date of the registration statement. Representative's Warrants shall be exercisable at a price per unit equal to one hundred and twenty percent (120%) of the initial public offering price of the common shares and shall be exercisable at any time from time to time, in whole or in part, during the Warrant Exercise Term. Representative's Warrants contain standard terms and conditions, including, a cashless exercise provision, and customary anti-dilution and exercise provisions.

**Lock-Up Agreement**

Our executive officers and directors have agreed with the underwriters not to sell, transfer or dispose of any common stock or similar securities for six months following the effective date of the registration statement for this offering without the prior written consent of the Representative. Any other holders of more than 5% of the outstanding shares of our common stock have also agreed with the underwriters not to sell, transfer or dispose of any common stock or similar securities for six months following the effective date of the registration statement for this offering without the prior written consent of the underwriters.

**Right of First Refusal**

For a period of twelve (12) months from the closing date of this offering, the Representative will have an irrevocable right of first refusal, in its sole discretion, to act as sole investment banker, sole book-runner, and/or sole placement agent for all future public and private equity and debt offerings, including all equity-linked financings, other than in connection with certain current offerings being made by us (each, a "Subject Transaction") on terms and conditions customary to the Representative for such transactions. The Representative will have the sole right to determine whether or not any other broker-dealer will have the right to participate in any such offering and the economic terms of any such participation. The Company may not retain, engage or solicit any additional investment banker, book-runner, financial advisor, underwriter and/or placement agent in a Subject Transaction without the express written consent of the Representative.

**Indemnification**

We have agreed to indemnify the several underwriters against certain liabilities, including certain liabilities under the Securities Act. If we are unable to provide this indemnification, we have agreed to contribute to payments the underwriters may be required to make in respect of those liabilities.

**Other Relationships**

Some of the underwriters and their affiliates have engaged in, and may in the future engage in, investment banking and other commercial dealings in the ordinary course of business with us or our affiliates. They have received, or may in the future receive, customary fees and commissions for these transactions.

**No Public Market**

Prior to this offering, there has not been a public market for our common stock in the U.S. and the public offering price for our common stock will be determined through negotiations between us and the underwriters. Among the factors to be considered in these negotiations will be prevailing market conditions, our financial information, market valuations of other companies that we and the underwriters believe to be comparable to us, estimates of our business potential, the present state of our development and other factors deemed relevant.

We offer no assurances that the initial public offering price will correspond to the price at which our common stock will trade in the public market subsequent to this offering or that an active trading market for our common stock will develop and continue after this offering.

**Stock Exchange**

We are seeking to list our common stock on the Nasdaq Capital Market under the symbol "VOCO".

**Electronic Distribution**

A prospectus in electronic format may be made available on websites or through other online services maintained by one or more of the underwriters of this offering, or by their affiliates. Other than the prospectus in electronic format, the information on any underwriter's website and any information contained in any other website maintained by an underwriter is not part of this prospectus or the registration statement of which this prospectus forms a part, has not been approved and/or endorsed by us or any underwriter in its capacity as underwriter, and should not be relied upon by investors. The underwriters may agree to allocate a number of ordinary shares for sale to its online brokerage account holders.

**Price Stabilization, Short Positions, and Penalty Bids**

In connection with this offering, the underwriters may engage in activities that stabilize, maintain or otherwise affect the price of our common stock during and after this offering, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· stabilizing transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· short sales;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· over-allotment
 transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· imposition of penalty bids; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· syndicate covering transactions.

These stabilizing transactions, over-allotment transactions, syndicate covering transactions, and penalty bids may have the effect of raising or maintaining the market price of the ordinary shares or preventing or retarding a decline in the market price of the ordinary shares. As a result, the price of the ordinary shares may be higher than the price that might otherwise exist in the open market. Neither we nor the underwriters make any representation or prediction as to the direction or magnitude of any effect that the transactions described above may have on the price of the ordinary shares. In addition, neither we nor the underwriters make any representations that the underwriters will engage in these stabilizing transactions or that any transaction, once commenced, will not be discontinued without notice.

**Affiliations**

The underwriters and their respective affiliates are full service financial institutions engaged in various activities, which may include securities trading, commercial and investment banking, financial advisory, investment management, investment research, principal investment, hedging, financing and brokerage activities. The underwriters and their affiliates may from time to time in the future engage with us and perform services for us or in the ordinary course of their business for which they will receive customary fees and expenses. In the ordinary course of their various business activities, the underwriters and their respective 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 their own account and for the accounts of their customers, and such investment and securities activities may involve securities and/or instruments of us. The underwriters and their respective affiliates may also make investment recommendations and/or publish or express independent research views in respect of these securities or instruments and may at any time hold, or recommend to clients that they acquire, long and/or short positions in these securities and instruments.

**Offer Restrictions Outside the United States**

Other than in the United States, no action has been taken by us or the underwriters that would permit a public offering of the common stock offered by this prospectus in any jurisdiction where action for that purpose is required. The common stock offered by this prospectus may not be offered or sold, directly or indirectly, nor may this prospectus or any other offering material or advertisements in connection with the offer and sale of any such common stock be distributed or published in any jurisdiction, except under circumstances that will result in compliance with the applicable rules and regulations of that jurisdiction. Persons into whose possession this prospectus comes are advised to inform themselves about and to observe any restrictions relating to the offering and the distribution of this prospectus. This prospectus does not constitute an offer to sell or a solicitation of an offer to buy any common stock offered by this prospectus in any jurisdiction in which such an offer or a solicitation is unlawful.

**LEGAL MATTERS**

The validity of the common stock offered by us in this offering will be passed upon for us by Carmel, Milazzo & Feil LLP, New York, NY. Certain legal matters will be passed upon for the underwriters by Sullivan & Worcester LLP, New York, NY.

**Interests of named experts and counsel**

Carmel, Milazzo & Feil LLP owns 6,000 shares of our common stock.

**EXPERTS**

The combined financial statements of Vocodia Holdings Corp (including CFM) as of December 31, 2021 and 2020, applicable interim periods, respectively, have been included in this Registration Statement and have been so included in reliance on the report of Daszkal Bolton LLP, an independent registered public accounting firm, (such report including an explanatory paragraph regarding our ability to continue as a going concern), given on the authority of said firm as experts in auditing and accounting.

**WHERE YOU CAN FIND MORE INFORMATION**

We have filed with the Securities and Exchange Commission a Registration Statement on Form S-1 under the Securities Act with respect to the shares of common stock offered by this prospectus. This prospectus, which is part of the registration statement, omits certain information, exhibits, schedules and undertakings set forth in the registration statement. For further information pertaining to us and our shares of common stock, reference is made to the registration statement and the exhibits and schedules to the registration statement. Statements contained in this prospectus as to the contents or provisions of any documents referred to in this prospectus are not necessarily complete, and in each instance where a copy of the document has been filed as an exhibit to the registration statement, reference is made to the exhibit for a more complete description of the matters involved.

Registration statements and certain other filings made with the Securities and Exchange Commission electronically are publicly available through the Securities and Exchange Commission's website located at *www.sec.gov*. The registration statement, including all exhibits and amendments to the registration statement, has been filed electronically with the Securities and Exchange Commission.

**Combined Financial Statements for December 31, 2021** 

**and September 30, 2022 (unaudited)**

**Vocodia Holdings Corp**

**VOCODIA HOLDINGS CORP<br> INDEX TO FINANCIAL STATEMENTS**

CONTENTS

---

| | |
|:---|:---|
| Report of Independent Registered Public Accounting Firm | F-1 |
| Financial Statements: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;[Combined Balance Sheets – For December 31, 2021 and September 30, 2022 (unaudited)](#a_023) | [F-2](#a_023) |
| &nbsp;&nbsp;&nbsp;&nbsp;[Combined Statements of Operations – For December 31, 2021 and September 30, 2022 (unaudited)](#a_024) | [F-3](#a_024) |
| &nbsp;&nbsp;&nbsp;&nbsp;[Combined Statements of Stockholders' Equity – For December 31, 2021 and September 30, 2022 (unaudited)](#a_025) | [F-4](#a_025) |
| &nbsp;&nbsp;&nbsp;&nbsp;[Combined Statements of Cash Flows - For December 31, 2021 and September 30, 2022 (unaudited)](#a_033) | [F-5](#a_033) |
| &nbsp;&nbsp;&nbsp;&nbsp;[Notes to Combined Financial Statements](#a_026) | [F-6](#a_026) |

---

**Vocodia Holdings Corp**

**Combined Balance Sheets** 

**December 31, 2021 and September 30, 2022 (unaudited)**

---

| | | |
|:---|:---|:---|
|  | **December 31, 2021** | **September 30, 2022** |
|  | | (Unaudited) |
| **ASSETS** |  |  |
| **<u>Current Assets</u>** |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $638641 | $853121 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net |  | 41450 |
| &nbsp;&nbsp;&nbsp;Other receivables |  | 12494 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 45960 | 92272 |
| **Total Current Assets** | **684601** | **999337** |
| Property and equipment, net | 33319 | 28685 |
| **<u>Intangibles & Other Assets</u>** |  |  |
| &nbsp;&nbsp;&nbsp;Right-of-use assets, net | 499714 | 433749 |
| &nbsp;&nbsp;&nbsp;Software development costs, net | 463822 | 965694 |
| &nbsp;&nbsp;&nbsp;Other assets | 126073 | 21859 |
| **Total Intangibles & Other Assets** | **1089609** | **1421302** |
| **TOTAL ASSETS** | $**1807529** | $**2449324** |
| **LIABILITIES AND SHAREHOLDERS EQUITY** |  |  |
| **<u>Current Liabilities</u>** |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | $157712 | $341485 |
| &nbsp;&nbsp;&nbsp;Notes payable, net |  | 1276151 |
| &nbsp;&nbsp;&nbsp;Operating lease liability, current portion | 85887 | 95527 |
| **Total Current Liabilities** | **243599** | **1713164** |
| **<u>Non-current Liabilities</u>** |  |  |
| &nbsp;&nbsp;&nbsp;Operating lease liability, less current portion | 437350 | 365026 |
| **Total Non-Current Liabilities** | **437350** | **365026** |
| **TOTAL LIABILITIES** | **680949** | **2078190** |
|  **<u>Shareholders' Equity</u>** |  |  |
| &nbsp;&nbsp;&nbsp;Common stock and additional paid-in capital, $0.0001 par value: 96,000,000 shares authorized; 51,560,000 and 54,763,575 shares issued and outstanding at December 31, 2021 and September 30, 2022, respectively | 5156 | 5476 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 5954944 | 10938777 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (4833520) | (10573121) |
| **Total shareholders' equity** | **1126580** | **371132** |
| **TOTAL LIABILITIES AND SHAREHOLDERS EQUITY** | $**1807529** | $**2449321** |

---

See accompanying notes to combined financial statements.

**Vocodia Holdings Corp**

**Statement of Operations**

**September 30, 2021 and September 30, 2022 (unaudited)**

---

| | | |
|:---|:---|:---|
|  | **September 30, 2021** | **September 30, 2022** |
|  | (Unaudited) | (Unaudited) |
| **Net Sales** | $- | $156607 |
| **Cost of Sales** | 2618 | 252955 |
| **Gross Loss** | **(2618)** | **(96348)** |
| **<u>SG&A</u>** |  |  |
| &nbsp;&nbsp;&nbsp;General & Administrative Expenses | 807161 | 1702751 |
| &nbsp;&nbsp;&nbsp;Advertising | 160275 | 321215 |
| &nbsp;&nbsp;&nbsp;Salaries and Wages | 327503 | 1404125 |
| &nbsp;&nbsp;&nbsp;Services | 643972 | 2196805 |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 1523 | 5564 |
| **Total SG&A** | **1940434.00** | **5630459.75** |
| **Operating Loss** | (1943052) | (5726807) |
| **<u>Other Income (Expenses)</u>** |  |  |
| &nbsp;&nbsp;&nbsp;Gain (Loss) on Investment | 116875 |  |
| &nbsp;&nbsp;&nbsp;Interest Expense | - | 12794 |
| **Total Other Income (Expenses)** | **116875** | **12794** |
| **Earnings Before Taxes** | (2059927) | (5739601) |
| &nbsp;&nbsp;&nbsp;Federal Income Tax |  |  |
| &nbsp;&nbsp;&nbsp;State Income Tax | - | - |
| **Net Loss** | $**(2059927.00)** | $**(5739601.33)** |

---

See accompanying notes to combined financial statements.

**Vocodia Holdings Corp**

**Statements of Stockholders' Equity** 

**December 31, 2021 and September 30, 2022 (unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Common Stock | Common Stock | | | |
|  | Shares | Amount | Additional<br>Paid-In Capital | Accumulated<br>Deficit |<br>Total |
| Balance, December 31, 2020 |  | $- | $- | $521 | $521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock issuance to founders | 47405000 | 4741 |  |  | 4741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock issuance for cash | 4155000 | 416 | 4954944 |  | 4955360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock compensation |  |  | 1000000 |  | 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loss |  |  |  | (4834041) | (4834041) |
| Balance, December 31, 2021 | 51560000 | $5156 | $5954944 | $(4833520) | $1126580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock issuance | 1933575 | 193 | 2991950 |  | 2992143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-employee stock compensation | 1270000 | 127 | 1826373 |  | 1826500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issuance of warrants |  |  | 165510 |  | 165510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loss | - | - | - | (5739601) | (5739601) |
| Balance, September 30, 2022 | 54763575 | $5476 | $10938777 | $(10573121) | $371132 |

---

See accompanying notes to combined financial statements.

**Vocodia Holdings Corp**

**Combined Statement of Cash Flows** 

**For the Year Ended December 31, 2021 and the Period Ended September 30, 2022 (unaudited)**

---

| | | |
|:---|:---|:---|
|  | | **(unaudited)** |
|  |<br>**December 31,**<br>**2021** | **September 30,**<br>**2022** |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Net loss | $(4834041) | $(5739601) |
| &nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 3311 | 5564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of right-of-use assets |  | 65965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of capitalized software costs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt issuance costs |  | 6417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-employee stock compensation |  | 1826500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock compensation | 1000000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Account receivable, net |  | (41450) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other receivables |  | (12493) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | (45960) | (46312) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Right-of-use assets | (499714) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets | (126073) | 104214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | 156532 | 183773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease liability | 523237 | (62684) |
| Net cash used in operating activities | (3822708) | (3710107) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Purchase of property and equipment | (36630) | (929) |
| &nbsp;&nbsp;&nbsp;Software development costs | (463822) | (501872) |
| Net cash used in investing activities | (500452) | (502801) |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from issuance of common stock | 4960100 | 2992143 |
| &nbsp;&nbsp;&nbsp;Payment of debt issuance costs |  | (145050) |
| &nbsp;&nbsp;&nbsp;Issuance of notes payable | - | 1580294 |
| Net cash provided by financing activities | 4960100 | 4427387 |
| Net increase in cash, cash equivalents and restricted cash | 636940 | 214480 |
| Cash, cash equivalents and restricted cash, beginning balances | 1701 | 638641 |
| Cash, cash equivalents and restricted cash, ending balances | $638641 | $853121 |
|  | 0 | (0) |

---

**Vocodia Holdings Corp**

**Notes to Financial Statements**

**Note 1 – Description of Business**

Vocodia Holdings Corp ("Vocodia") was incorporated in the State of Wyoming on April 27, 2021 and is a conversational artificial intelligence ("AI") technology provider. Vocodia's technology is used to increase sales and drive conversions for their product or service.

Click Fish Media, Inc. ("CFM") was incorporated in the State of Florida on November 29, 2019 and is an IT services provider.

The combined financial statements include the accounts of Vocodia and CFM (collectively, the "Company") which are combined as they are under common control with certain shareholders of Vocodia.

**Note 2 – Summary of Significant Accounting Policies**

***Principles of Combination***

The combined financial statements include the accounts of Vocodia and CFM (collectively the "Company") which are combined as they are under common control with certain shareholders of Vocodia. All significant intercompany balances and transactions have been eliminated in consolidation.

***Use of Estimates***

The preparation of combined financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses at the date and for the periods that the combined financial statements are prepared. On an ongoing basis, the Company evaluates its estimates, including those related to insurance adjustments and provisions for doubtful accounts. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could materially differ from those estimates.

***Revenue Recognition and Sales Returns***

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASC 606"), which requires the Company to recognize revenue in an amount that reflects the consideration to which it expects to be entitled in exchange for the transfer of promised goods or services to customers. ASC 606, as amended, defines a five-step process to achieve this core principle: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. This update is effective for annual reporting periods beginning after September 15, 2019.

The Company's revenues are derived from two sources: (1) implementation fees, and (2) offering its software as a service on a recurring monthly basis. Implementation fees are charged for setting up or calibrating its software so that the AI can be used by the customer for its particular use case, and are usually a one time cost. The recurring monthly fees are charged for the ongoing use of the AI to continue to call/prospect for the company's customers, and are charged on a monthly recurring basis.

**Note 2 – Summary of Significant Accounting Policies, continued**

 ****

***Property and Equipment***

Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using straight-line methods over the useful lives of the assets. Expenditures for major betterments and additions are charged to the property and equipment accounts, while replacements, maintenance, and repairs, which do not improve or extend the lives of the respective assets, are charged to expense. The carrying amounts of assets that are sold or retired and their related accumulated depreciation are removed from the accounts in the year of disposal, and any resulting gain or loss is reflected in income.

***Software Development Costs***

In accordance with ASC 350-40, Internal Use Software, the Company capitalizes certain internal use software development costs associated with creating and enhancing internally developed software related to its platforms. Software development activities generally consist of three stages (i) the research and planning stage, (ii) the application and development stage, and (iii) the post-implementation stage. Costs incurred in the planning and postimplementation stages of software development, or other maintenance and development expenses that do not meet the qualification for capitalization are expensed as incurred. Costs incurred in the application and infrastructure development stage, including significant enhancements and upgrades, are capitalized. These costs include personnel expenses for employees or consultants who are directly associated with and who devote time to software projects, and external direct costs of materials obtained in developing the software. These software developments and acquired technology costs will be amortized on a straight-line basis over the estimated useful life upon the "go-live" date.

***Long-Lived Assets***

The Company reviews its long-lived assets for possible impairment at least annually, and more frequently if circumstances warrant. Impairment is determined to exist when estimated amounts recoverable through future cash flows from operations on an undiscounted basis, are less than long lived assets carrying value. If a longed-lived asset is determined to be impaired, it is written down to its estimated fair value to the extent that the carrying amount exceeds the fair value of the long-lived asset. The Company did not recognize any impairment losses during the nine months ended September 30, 2021 and 2022.

***Fair Value of Financial Instruments***

The carrying amounts of the Company's financial instruments, including cash, accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

**Note 2 – Summary of Significant Accounting Policies, continued**

***Concentrations of Credit Risk***

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash. The Company maintains deposit balances at financial institutions. Accounts at these financial institutions are insured by the Federal Deposit Insurance Corporation ("FDIC"). The Company generally limits its exposure by placing its deposits with quality financial institutions. At December 31, 2021 and September 30, 2022, the Company had approximately $629,000 and $587,000, respectively, exceeding the FDIC limit of $251,000. The Company does not anticipate any loss on these funds.

***Advertising***

The Company expenses advertising costs as they are incurred. Advertising expenses totaled approximately $160,000 and $282,000 for the nine months ended September 30, 2021 and 2022, respectively.

 ****

***Income Taxes***

The Company accounts for income tax under the provisions of ASC 740, Income Taxes. The Company records a liability for uncertain tax positions when it is probable that a loss has been incurred and the amount can be reasonably estimated. At September 30, 2021 and 2022, the Company had no liabilities for uncertain tax positions. The Company continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. The Company's tax years subject to examination by tax authorities generally remain open for three (3) years from the date of filing.

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Deferred tax assets are required to be reduced by a valuation allowance to the extent that, based on the weight of available evidence, it is more likely than not that the deferred tax assets will not be realized.

 ****

***Right-of-Use Assets***

The Company records leases in accordance with ASC 842. ASC 842 establishes a right-of-use ("ROU") model that requires the Company to record a ROU asset and a lease liability on the combined balance sheets for all leases with terms longer than 12 months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the combined statements of operations and the combined statements of changes in stockholders' equity.

The Company's leases consist of a non-cancelable operating lease that relates to a real estate rental agreement entered into starting August 2021.

The Company determines the present value of minimum future lease payments for operating leases by estimating a rate of interest that it would have to pay to borrow on a collateralized basis over a similar term, an amount equal to the lease payments and a similar economic environment (the "incremental borrowing rate" or "IBR").

The Company determines the appropriate IBR by identifying a reference rate and making adjustments that take into consideration financing options and certain lease-specific circumstances. For the reference rate, the Company used the seven-year mortgage interest rate.

 ****

***Date of Management's Review***

 ****

Management has evaluated events and transactions occurring subsequent to the date of the combined financial statements for matters requiring recognition or disclosure in the combined financial statements. The accompanying combined financial statements consider events through January 27, 2023, which is the date the combined financial statements were available to be issued.

**Note 3 – Property and Equipment**

Property and equipment consisted of the following:

---

| | | | |
|:---|:---|:---|:---|
|  | **Estimated Useful**<br>**Lives (in Years)** | **December 31,**<br>**2021** | **September 30,**<br>**2022** |
| Furniture and fixtures | 5 | $27877 | $27877 |
| Computer equipment | 5 | 8753 | 9684 |
| &nbsp;&nbsp;&nbsp;Total property and equipment |  | 36630 | 37561 |
| Less: accumulated depreciation and amortization |  | (3311) | (8876) |
| &nbsp;&nbsp;&nbsp;Property and equipment, net |  | $33319 | $28685 |

---

Depreciation and amortization expense relating to property and equipment totaled approximately $1,500 and $5,600 during the nine months ended September 30, 2021 and 2022 respectively.

**Note 4 – Software Development Costs**

Software development costs consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2021** | **September 30,**<br>**2022** |
| Data platforms and systems development | $463822 | $965694 |
| Less: accumulated amortization | - | - |
| &nbsp;&nbsp;&nbsp;Software development costs, net | $463822 | $965694 |

---

There was no amortization expense relating to software and development costs as the software was not in use for the period ending December 30, 2021 and September 30, 2022.

Future amortization expense of software development costs are as follows:

---

| | |
|:---|:---|
| For the year ended December 31, 2022 | $241424 |
| For the year ended December 31, 2023 | 321898 |
| For the year ended December 31, 2024 | 321898 |
| For the year ended December 31, 2025 | 321898 |
|  | $965694 |

---

**Note 5 – Operating Leases**

***Right-of-Use Assets***

 ****

Right-of-use assets consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2021** | **September 30,**<br>**2022** |
| Non-current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Right-of-use assets, net of amortization | $499714 | $433749 |

---

Operating lease expense during the periods ended September 30, 2021 and 2022 totaled approximately $53,000 and $101,000, respectively, and is primarily included in operating expenses on the accompanying combined statements of operations and comprehensive loss.

**Note 5 – Operating Leases, continued**

***Maturity of Operating Leases***

The following table represents a reconciliation of the undiscounted future minimum lease payments under the lease to the amounts reported as a financial lease liability on the combined balance sheets at September 30, 2022:

---

| | |
|:---|:---|
| Undiscounted future minimum lease payments for the quarter ended September 30, 2022 | $30562 |
| Undiscounted future minimum lease payments for the periods ending December 31. |  |
| 2023 | 123278 |
| 2024 | 125782 |
| 2025 | 128362 |
| 2026 | 119969 |
| Total lease payments | 527953 |
| Less: imputed interest | (67400) |
| Total operating lease liability | 460553 |
| Operating lease liability, current portion | 95527 |
| Operating lease liability, net of current portion | $365026 |

---

The table below presents lease-related terms and discount rates at September 30, 2022:

---

| | |
|:---|:---|
| Weighted average remaining lease term | 4.17 yrs |
| Incremental borrowing rate | 6.50% |

---

**Note 6 – Income Taxes**

Components of income tax expense (benefit) are as follows for the years ended December 31, 2021 and the nine months ended September 30, 2022:

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2021** | **September 30,**<br>**2022** |
| Current tax expense: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current Income Tax Expense - federal | $- | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current Income Tax Expense - state | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current tax expense | $- | $- |
| Deferred tax expense: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred Income Tax Expense - federal | $- | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred Income Tax Expense - state | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Deferred tax expense | $- | $- |

---

The tax effects of temporary differences which give rise to the significant portions of deferred tax assets or liabilities are as follows at December 31, 2021 and September 30, 2022:

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2021** | **September 30,**<br>**2022** |
| Deferred tax assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Operating loss Carryforward | $874730 | $2480032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital loss Carryover | 463450 | 463450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Lease Liability | 6400 | 6793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax assets | $1344580 | $2950275 |
| Deferred tax liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation | $(126000) | $(80742) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax liabilities | (126000) | (80742) |
| Less: valuation allowance | (1218580) | (2869533) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net deferred tax assets | $- | $- |

---

The Company will have approximately $3,525,000 and $9,785,000 of gross net operating loss carry-forwards at December 31, 2021 and September 30, 2022, respectively. Net deferred tax assets are mainly comprised of temporary differences between financial statement carrying amount and tax basis of assets and liabilities.

**Note 6 – Income Taxes, continued**

ASC 740 requires a valuation allowance to reduce the deferred tax assets reported if, based on the weight of the evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. At December 31, 2021 and September 30, 2022, respectively, a full valuation allowance was recognized.

In addition, the Company performed a comprehensive review of its uncertain tax positions and determined that no adjustments were necessary relating to unrecognized tax benefits at December 31, 2021 and September 30, 2022. The Company's federal and state income tax returns are subject to examination by taxing authorities for three years after the returns are filed, and as such the Company's federal and state income tax returns remain open to examination.

The reconciliation of the income tax benefit is computed at the U.S. federal statutory rate as follows:

---

| | |
|:---|:---|
| Federal statutory income tax at 21% | 21.00% |
| State income taxes, net of federal benefits | -4.35% |
| Application of a full valuation allowance | -16.66% |
|  | -0.01% |

---

**Note 7 – Commitments and Contingencies**

***Commercial Matters***

From time to time, the Company may become subject to threatened and/or asserted claims arising in the ordinary course of business. Management is not aware of any matters, either individually or in the aggregate, that are reasonably likely to have a material adverse effect on the Company's financial condition, results of operations or liquidity.

 ****

***COVID-19 Pandemic***

In March 2020, a global pandemic was declared by the World Health Organization as a result of the rapidly growing outbreak of the coronavirus ("COVID-19"). The pandemic has significantly impacted the economic conditions by disrupting supply chains and affecting production and sales across a range of industries. The extent of the effects of COVID-19 on the Company's operating and financial performance cannot be predicted at this time, as they are dependent on many factors, including, but not limited to, (i) the duration and spread of the outbreak, (ii) the impact on the Company's customers and vendors, management personnel and service providers, and (iii) the impact on the local, state, national and global economies.

**Note 8 – Issuance of Convertible Notes Payable**

"From July 8, 2022 through September 29, 2022, the Company issued approximately $1,580,000 in original issue discount senior secured convertible notes (together, the "Notes" or "Agreements"). The Notes bear interest at an annualized rate of 15%. The notes mature nine months after the original issue date of the Notes, whereupon all outstanding principal and accrued interest is due to the holders of the Notes.

The Notes include a conversion feature, whereupon a Liquidity Event (as defined in the Agreements), the Notes may be payable to the holders by the Company delivering to the holders shares of common stock equal to the payment amount due at maturity divided by the conversion price. As defined in the agreement, the conversion price is the product of the offering price per share of common stock paid in a Liquidity Event and a 0.65 discount.

In connection with the issuance of the Notes, the Company issued common stock purchase warrants to the holders of the Notes (the ""Warrants""). The Warrants give the holders the right, but not the obligation, to purchase shares of the Company obtained by dividing 50% of the original principal amount of the Notes by the offering price per share of common stock paid in a Liquidity Event. The exercise price of the warrants are equal to the product of the conversion price of the Notes and 120%. The Warrants expire five years from the issuance date. These Warrants have been accounted for in accordance with ASC 815-40 and are included as a component of Additional Paid-in Capital by its fair value amounting to approximately $331,000.

Through September 30, 2022 and the date these financial statements have been made available, the conversion feature of the Notes has not been exercised and no Warrants have been exercised.

Notes payable, net consisted of the following:

---

| | |
|:---|:---|
|  | **September 30,**<br>**2022** |
| Original issue discount notes | $1580294 |
| Less: debt issuance costs | (145050) |
| Plus: amortization debt issuance costs | 6417 |
| Less: value of warrants | (165510) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes payable, net | $1276151 |

---

**Note 9 – Subsequent Events**

From September 30, 2022 through December 31, 2022, the Company issued approximately$580,000 in additional notes upon the same terms as previously issued convertible Notes, described in Note 8.

The Warrants associated with these subsequent issuances of Notes will be accounted for in accordance with ASC 815-40 and will be included as a component of Additional Paid-in Capital by its fair value amounting to approximately $52,000.

Through December 31, 2022, the conversion feature of the Notes has not been exercised and no Warrants have been exercised.

**Combined Financial Statements for the Years Ended<br> December 31, 2021 and 2020**

**Vocodia Holdings Corp**

**VOCODIA HOLDINGS CORP<br> INDEX TO FINANCIAL STATEMENTS**

CONTENTS

---

| | |
|:---|:---|
| [Report of Independent Registered Public Accounting Firm](#a_027) | [F-17](#a_027) |
| Financial Statements: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;[Combined Balance Sheets – As of December 31, 2021 and 2020](#a_028) | [F-19](#a_028) |
| &nbsp;&nbsp;&nbsp;&nbsp;[Combined Statements of Operations – For the Years ended December 31, 2021 and 2020](#a_029) | [F-20](#a_029) |
| &nbsp;&nbsp;&nbsp;&nbsp;[Combined Statements of Changes in Stockholders' Equity – For the Years Ended December 31, 2021 and 2020](#a_030) | [F-21](#a_030) |
| &nbsp;&nbsp;&nbsp;&nbsp;[Combined Statements of Cash Flows – For the Years Ended December 31, 2021 and 2020](#a_031) | [F-22](#a_031) |
| &nbsp;&nbsp;&nbsp;&nbsp;[Notes to Combined Financial Statements](#a_032) | [F-23](#a_032) |

---

**Report of Independent Registered Public Accounting Firm**

To the Board of Directors and<br> Stockholders of Vocodia Holdings Corp

Boca Raton, Florida

**Opinion on the Financial Statements**

We have audited the accompanying combined balance sheets of Vocodia Holdings Corp (the Company) at December 31, 2021 and 2020 and the related combined statements of operations, stockholders' equity, and cash flows for each of the years in the two-year period ended December 31, 2021 and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2021 and 2020, and the results of its operations and its cash flows for each of the years in the two-year period ended December 31, 2021, in conformity with accounting principles generally accepted in the United States of America.

**Going Concern Uncertainty**

The accompanying combined financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the combined financial statements, the Company has suffered recurring losses from operations that raise substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 3. The combined financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**Basis for Opinion**

These combined financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's combined financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the combined financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the combined financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the combined financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the combined financial statements. We believe that our audits provide a reasonable basis for our opinion.

**Critical Audit Matters**

The critical audit matters communicated below are matters arising from the current period audit of the combined financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the combined financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the combined financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.

**Intangible Assets Impairment Assessments**

As described in Note 4 to the combined financial statements, the Company has intangible assets of approximately $464,000 at December 31, 2021. In most cases, no directly observable market inputs are available to measure the fair value to determine if the assets are impaired. Therefore, an estimate is derived indirectly and is based on net present value techniques utilizing post-tax cash flows and discount rates. The estimates that management used in calculating the net present values depend on assumptions specific to the nature of the development activities with regard to the amount and timing of projected future cash flows; long-term forecasts; actions of competitors, future tax and discount rates.

The principal considerations for our determination that performing procedures relating to the intangible assets impairment assessment is a critical audit matter are the significant judgment by management when developing the net present value of the intangible assets. This in turn led to a high degree of auditor judgment, subjectivity, and effort in performing procedures and evaluating management's significant assumptions related to the amount and timing of projected future cash flows and the discount rate. In addition, the audit effort involved the use of professionals with specialized skill and knowledge.

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the combined financial statements. These procedures included testing management's process for developing the fair value estimate; evaluating the appropriateness of the net present value techniques; testing the completeness and accuracy of underlying data used in the model; and evaluating the significant assumptions used by management, including the amount and timing of projected future cash flows and the discount rate. Evaluating management's assumptions related to the amount and timing of projected future cash flows and the discount rate involved evaluating whether the assumptions used by management were reasonable considering the current and past performance of the intangible assets, the consistency with external market and industry data, and whether these assumptions were consistent with evidence obtained in other areas of the audit.

/s/ Daszkal Bolton LLP

Daszkal Bolton LLP

We have served as the Company's auditor since 2020

Boca Raton, Florida

August 24, 2022

**Vocodia Holdings Corp**

**Combined Balance Sheets**

December 31, 2021 and 2020

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $638641 | $1701 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 45960 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 684601 | 1701 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 33319 |  |
| &nbsp;&nbsp;&nbsp;Other assets: |  |  |
| &nbsp;&nbsp;&nbsp;Right-of-use assets, net | 499714 |  |
| &nbsp;&nbsp;&nbsp;Software development costs, net | 463822 |  |
| &nbsp;&nbsp;&nbsp;Other assets | 126073 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other assets | 1089609 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $1807529 | $1701 |
| **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | $157712 | $1180 |
| &nbsp;&nbsp;&nbsp;Operating lease liability, current portion | 85887 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 243599 | 1180 |
| Long-term liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Operating lease liability, less current portion | 437350 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 680949 | 1180 |
| Commitments and contingencies |  |  |
| Stockholders' (deficit) equity; |  |  |
| &nbsp;&nbsp;&nbsp;Common stock, $0.0001 par value, 96,000,000 shares authorized, 51,560,000 voting shares issued and outstanding | 5156 |  |
| &nbsp;&nbsp;&nbsp;Preferred Stock, $0.0001 par value, 24,000,000 shares authorized, 4,000,000 shares issued and outstanding, actual; 4,000,000 shares issued and outstanding, as adjusted |  |  |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 5954944 |  |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (4833520) | 521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 1126580 | 521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $1807529 | $1701 |

---

See accompanying notes to combined financial statements.

**Vocodia Holdings Corp**

**Combined Statements of Operations**

For the Years Ended December 31, 2021 and 2020

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
| Revenues | $34242 | $30361 |
| Cost of revenues | 32736 | 17300 |
| Gross profit | 1506 | 13061 |
| Operating expenses: |  |  |
| General and administrative | 1176464 | 12540 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock compensation expense | 1000000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payroll and related expenses | 742634 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Services | 443342 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Advertising | 292921 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 3311 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 3658672 | 12540 |
| Loss from (operations) income | (3657166) | 521 |
| Other expense: |  |  |
| Loss on investment | (1176875) |  |
| (Loss) income before income taxes | (4834041) | 521 |
| Income tax expense |  |  |
| Net (loss) income | $(4834041) | $521 |

---

See accompanying notes to combined financial statements.

**Vocodia Holdings Corp**

Combined Statements of Changes in Stockholders' Equity

For the Years Ended December 31, 2021 and 2020

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | |
|  | **Shares** | **Amount** | **Additional Paid-in**<br>**Capital** | **Retained Earnings**<br>**(Deficit)** |<br>**Total** |
| Balance, December 31, 2019 |  | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;Net loss |  |  |  | 521 | 521 |
| Balance, December 31, 2020 |  |  |  | 521 | 521 |
| &nbsp;&nbsp;&nbsp;Stock issuance to founders | 47405000 |  |  |  | 4741 |
| &nbsp;&nbsp;&nbsp;Stock issuance for cash | 4155000 | 416 | 4954944 |  | 4955360 |
| &nbsp;&nbsp;&nbsp;Stock compensation |  |  | 1000000 |  | 1000000 |
| &nbsp;&nbsp;&nbsp;Net loss |  |  |  | (4834041) | (4834041) |
| Balance, December 31, 2021 | 51560000 | $5156 | $5954944 | $(4833520) | $1126580 |

---

See accompanying notes to combined financial statements.

**Vocodia Holdings Corp**

**Combined Statements of Cash Flows**<br> For the Years Ended December 31, 2021 and 2020

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Net (loss) income | (4834041) | 521 |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 3311 |  |
| &nbsp;&nbsp;&nbsp;Stock compensation | 1000000 |  |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | (45960) |  |
| &nbsp;&nbsp;&nbsp;Right-of-use assets | (499714) |  |
| &nbsp;&nbsp;&nbsp;Other assets | (126073) |  |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | 156532 | 1180 |
| &nbsp;&nbsp;&nbsp;Operating lease liability | 523237 |  |
| &nbsp;&nbsp;&nbsp;Net cash (used in) provided by operating activities | (3822708) | 1701 |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Purchase of property and equipment | (36630) |  |
| &nbsp;&nbsp;&nbsp;Software development costs | (463822) |  |
| Net cash used in investing activities | (500452) |  |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from issuance of common stock | 4960100 |  |
| Net increase in cash | 636940 | 1701 |
| Cash, beginning of year | 1701 |  |
| Cash, end of year | 638641 | 1701 |

---

See accompanying notes to combined financial statements.

**Vocodia Holdings Corp**

Notes to Financial Statements

**Note 1 – Description of Business**

Vocodia Holdings Corp ("Vocodia") was incorporated in the State of Wyoming on April 27, 2021 and is a conversational artificial intelligence ("AI") technology provider. Vocodia's technology is used to increase sales and drive conversions for its product or service.

Click Fish Media, Inc. ("CFM") was incorporated in the State of Florida on November 26, 2019 and is an IT services provider.

The combined financial statements include the accounts of Vocodia and CFM (collectively, the "Company") which are combined as they are under common control with certain shareholders of Vocodia.

**Note 2 – Summary of Significant Accounting Policies**

 

*Principles of Combination*

The combined financial statements include the accounts of Vocodia and CFM (collectively, the "Company") which are combined as they are under common control with certain stockholders of Vocodia. All significant intercompany balances and transactions have been eliminated in combination and consolidation.

 

*Use of Estimates*

The preparation of combined financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses at the date and for the periods that the combined financial statements are prepared. On an ongoing basis, the Company evaluates its estimates, including those related to insurance adjustments and provisions for doubtful accounts. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could materially differ from those estimates.

Preferred Stockholders

The only rights that preferred stockholders have which differentiate them from common stockholders, are the 1000 to 1 voting rights. The remainder of the rights for both classes of stockholders are the same, outside of the voting rights as referenced hereinabove.

*Revenue Recognition and Sales Returns*

In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASC 606"), which requires the Company to recognize revenue in an amount that reflects the consideration to which it expects to be entitled in exchange for the transfer of promised goods or services to customers. ASC 606, as amended, defines a five-step process to achieve this core principle: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. This update is effective for annual reporting periods beginning after December 15, 2019.

The Company's revenues are derived from two sources: (1) implementation fees, and (2) offering its software as a service on a recurring monthly basis. Implementation fees are charged for setting up or calibrating its software so that the AI can be used by the customer for its particular use case, and are usually a one-time cost. The recurring monthly fees are charged for the ongoing use of the AI to continue to call/prospect for the company's customers, and are charged on a monthly recurring basis.

**Vocodia Holdings Corp**

Notes to Financial Statements

**Note 2 – Summary of Significant Accounting Policies, continued**

 

*Property and Equipment*

Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using straight-line methods over the useful lives of the assets. Expenditures for major betterments and additions are charged to the property and equipment accounts, while replacements, maintenance, and repairs, which do not improve or extend the lives of the respective assets, are charged to expense. The carrying amounts of assets that are sold or retired and their related accumulated depreciation are removed from the accounts in the year of disposal, and any resulting gain or loss is reflected in income.

 

*Software Development Costs*

In accordance with ASC 350-40, Internal Use Software, the Company capitalizes certain internal use software development costs associated with creating and enhancing internally developed software related to its platforms. Software development activities generally consist of three stages (i) the research and planning stage, (ii) the application and development stage, and (iii) the post-implementation stage. Costs incurred in the planning and postimplementation stages of software development, or other maintenance and development expenses that do not meet the qualification for capitalization are expensed as incurred. Costs incurred in the application and infrastructure development stage, including significant enhancements and upgrades, are capitalized. These costs include personnel expenses for employees or consultants who are directly associated with and who devote time to software projects, and external direct costs of materials obtained in developing the software. These software developments and acquired technology costs will be amortized on a straight-line basis over the estimated useful life upon the "go-live" date.

 

*Long-Lived Assets*

The Company reviews its long-lived assets for possible impairment at least annually, and more frequently if circumstances warrant. Impairment is determined to exist when estimated amounts recoverable through future cash flows from operations on an undiscounted basis, are less than long-lived assets carrying value. If a long-lived asset is determined to be impaired, it is written down to its estimated fair value to the extent that the carrying amount exceeds the fair value of the long- lived asset. The Company did not recognize any impairment losses during the years ended December 31, 2021 and 2020.

 

*Fair Value of Financial Instruments*

The carrying amounts of the Company's financial instruments, including cash, accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

 

*Concentrations of Credit Risk*

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash. The Company maintains deposit balances at financial institutions. Accounts at these financial institutions are insured by the Federal Deposit Insurance Corporation ("FDIC"). The Company generally limits its exposure by placing its deposits with quality financial institutions. At December 31, 2021 and 2020, the Company had approximately $251,000 and $0, respectively, exceeding the FDIC limit of $250,000. The Company does not anticipate any loss on these funds.

**Vocodia Holdings Corp**

Notes to Financial Statements

**Note 2 – Summary of Significant Accounting Policies, continued**

 

*Advertising*

The Company expenses advertising costs as they are incurred. Advertising expenses totaled approximately $293,000 and $0 for the years ended December 31, 2021 and 2020, respectively.

 

*Income Taxes*

The Company accounts for income tax under the provisions of ASC 740, Income Taxes. The Company records a liability for uncertain tax positions when it is probable that a loss has been incurred and the amount can be reasonably estimated. At December 31, 2021 and 2020, the Company had no liabilities for uncertain tax positions. The Company continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. The Company's tax years subject to examination by tax authorities generally remain open for three (3) years from the date of filing.

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Deferred tax assets are required to be reduced by a valuation allowance to the extent that, based on the weight of available evidence, it is more likely than not that the deferred tax assets will not be realized.

 

*Right-of-Use Assets*

The Company records leases in accordance with ASC 842. ASC 842 establishes a right-of-use ("ROU") model that requires the Company to record a ROU asset and a lease liability on the combined balance sheets for all leases with terms longer than twelve (12) months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the combined statements of operations and the combined statements of changes in stockholders' equity.

The Company's leases consist of a non-cancelable operating lease that relates to a real estate rental agreement entered into starting August 2021.

The Company determines the present value of minimum future lease payments for operating leases by estimating a rate of interest that it would have to pay to borrow on a collateralized basis over a similar term, an amount equal to the lease payments and a similar economic environment (the "incremental borrowing rate" or "IBR").

The Company determines the appropriate IBR by identifying a reference rate and making adjustments that take into consideration financing options and certain lease-specific circumstances. For the reference rate, the Company used the seven-year mortgage interest rate.

**Vocodia Holdings Corp**

Notes to Financial Statements

**Note 2 – Summary of Significant Accounting Policies, continued**

 

*Date of Management's Review*

Management has evaluated events and transactions occurring subsequent to the date of the combined financial statements for matters requiring recognition or disclosure in the combined financial statements. The accompanying combined financial statements consider events through August 24, 2022, which is the date the combined financial statements were available to be issued.

**Note 3 – Liquidity, Capital Resources, And Going Concern**

The accompanying combined financial statements have been prepared on the basis that the Company will continue as a going concern. The principal sources of liquidity at December 31, 2021, consists of existing cash of approximately $638,641. During the year ended December 31, 2021, the Company used $3,822,708 of cash for operating activities and reported a net loss of $4,834,041.

Management recognizes that the Company must obtain additional resources to successfully implement the Company's business plan. To date, we have received funding in the form of equity investments, and we plan to seek additional funding in the future. However, no assurances can be given that we will be successful in raising additional capital. If we are not able to timely and successfully raise additional capital, the financial condition and results of operations will continue to be materially affected. These combined financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities.

**Note 4 – Property and Equipment**

Property and equipment consisted of the following at December 31:

---

| | | | |
|:---|:---|:---|:---|
|  | **Estimated<br> Useful<br> Lives (in<br> Years)** | **2021** | **2020** |
| Furniture and fixtures | 5 | $27877 | $— |
| Computer equipment | 5 | 8753 |  |
| &nbsp;&nbsp;Total property and equipment |  | 36630 |  |
| Less: accumulated depreciation and amortization |  | (3311) |  |
| &nbsp;&nbsp;Property and equipment, net |  | $33319 | $— |

---

**Note 5 – Software Development Costs**

Software development costs consisted of the following at December 31:

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
| Data platforms and systems development | $463822 | $— |
| Less: accumulated amortization |  |  |
| &nbsp;&nbsp;&nbsp;Software development costs, net | $463822 | $— |

---

There was no amortization expense relating to software and development costs as the software was not in use for the years ended December 31, 2021 or 2020.

**Vocodia Holdings Corp**

Notes to Financial Statements

**Note 5 – Software Development Costs, continued**

Future amortization expense of software development costs are as follows:

---

| | |
|:---|:---|
| Years Ending December 31, |  |
| 2022 | $154607 |
| 2023 | 154607 |
| 2024 | 154607 |
|  | $463822 |

---

**Note 6 – Operating Leases**

 

*Right-of-Use Assets*

Right-of-use assets consisted of the following at December 31:

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
| Non-current assets: |  |  |
| Right-of-use assets, net of amortization | $499714 | $— |

---

Operating lease expense during the years ended December 31, 2021 and 2020 totaled approximately $53,000 and $0, respectively, and is primarily included in operating expenses on the accompanying combined statements of operations and comprehensive loss.

 

*Maturity of Operating Leases*

The following table represents a reconciliation of the undiscounted future minimum lease payments under the lease to the amounts reported as a financial lease liability on the combined balance sheets at December 31, 2021:

---

| | |
|:---|:---|
| Undiscounted future minimum lease payments |  |
| 2022 | $117487 |
| 2023 | 123278 |
| 2024 | 125782 |
| 2025 | 128362 |
| 2026 | 119969 |
| Total lease payments | 614878 |
| Less: imputed interest | (91641) |
| Total operating lease liability | 523237 |
| Operating lease liability, current portion | (85887) |
| Operating lease liability, net of current portion | $437350 |

---

**Vocodia Holdings Corp**

Notes to Financial Statements

**Note 6 – Operating Leases, continued**

 

*Maturity of Operating Leases, continued*

The table below presents lease-related terms and discount rates at December 31, 2021:

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
| Non-current assets: |  |  |
| Right-of-use assets, net of amortization | $499714 | $— |

---

**Vocodia Holdings Corp**

Notes to Financial Statements

**Note 7 – Income Taxes, continued**

The tax effects of temporary differences which give rise to the significant portions of deferred tax assets or liabilities are as follows at December 31:

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
| Deferred tax assets: |  |  |
| &nbsp;&nbsp;&nbsp;Net operating loss carryforward | $3524831 |  |
| Capital loss carryover | $1000000 |  |
| &nbsp;&nbsp;&nbsp;Inventory |  |  |
| Unrealized losses |  |  |
| &nbsp;&nbsp;&nbsp;Charitable contribution carryforward |  |  |
| &nbsp;&nbsp;&nbsp;Reserves and allowances |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense limitation |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid Expenses | 25252 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax assets | 4550083 |  |
| Deferred tax liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | (497140) |  |
| &nbsp;&nbsp;&nbsp;Amortization |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax liabilities | (497140) |  |
| Less: valuation allowance | (4052943) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net deferred tax assets |  |  |

---

The Company will have approximately $3,053,000 of operating loss carry-forwards at December 31, 2021. Net deferred tax assets are mainly comprised of temporary differences between financial statement carrying amount and tax basis of assets and liabilities.

ASC 740 requires a valuation allowance to reduce the deferred tax assets reported if, based on the weight of the evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. At December 31, 2021 and 2020, respectively, a full valuation allowance was recognized.

In addition, the Company performed a comprehensive review of its uncertain tax positions and determined that no adjustments were necessary relating to unrecognized tax benefits at December 31, 2021 and 2020. The Company's federal and state income tax returns are subject to examination by taxing authorities for three (3) years after the returns are filed, and the Company's federal and state income tax returns for 2020 remain open to examination.

**Vocodia Holdings Corp**

Notes to Financial Statements

**Note 8 – Commitments and Contingencies**

 

*Commercial Matters*

From time to time, the Company may become subject to threatened and/or asserted claims arising in the ordinary course of business. Management is not aware of any matters, either individually or in the aggregate, that are reasonably likely to have a material adverse effect on the Company's financial condition, results of operations or liquidity.

 

*COVID-19 Pandemic*

In March 2020, a global pandemic was declared by the World Health Organization as a result of the rapidly growing outbreak of the coronavirus ("COVID-19"). The pandemic has significantly impacted the economic conditions by disrupting supply chains and affecting production and sales across a range of industries. The extent of the effects of COVID-19 on the Company's operating and financial performance cannot be predicted at this time, as they are dependent on many factors, including, but not limited to, (i) the duration and spread of the outbreak, (ii) the impact on the Company's customers and vendors, management personnel and service providers, and (iii) the impact on the local, state, national and global economies.

**Note 9 – Share Based Compensation**

In July 2021, the Company granted 2,000,000 shares of stock to an employee, Martin Taubman, that vested immediately. Management determined the grant date fair value of the shares based on the most recent price of shares sold in a private sale of securities and recorded a non-cash compensation expense of $1,000,000 for the year ended December 31, 2021.

**Vocodia Holdings Corp**

**2,142,858 Shares of Common Stock**

_____________________

**PROSPECTUS**

_____________________

**ALEXANDER CAPITAL, L.P.**

Until , 2023 (25 days after the date of this prospectus), all dealers that buy, sell or trade the shares of common stock, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to the dealers' obligation to deliver a prospectus when acting as underwriters and with respect to its unsold allotments or subscriptions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**, 2023.**

**PART II**

**INFORMATION NOT REQUIRED IN PROSPECTUS**

**ITEM 13. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION.**

The following table sets forth the expenses in connection with this registration statement. All of such expenses are estimates, other than the fees payable to the Financial Industry Regulatory Authority ("FINRA").

---

| | |
|:---|:---|
|  | **Amount paid <br> or to be <br> paid** |
| SEC registration fee | $**2532.07** |
| FINRA filing fee | $**3087.50** |
| The Nasdaq Capital Market initial listing fee | $**50000** |
| Accounting fees and expenses | $**50000** |
| Legal fees and expenses | $**175000** |
| Printing and engraving expenses | $**1500** |
| Miscellaneous | $**17880.43** |
| Total | $**300000** |

---

**ITEM 14. INDEMNIFICATION OF DIRECTORS AND OFFICERS.**

Section 17-16-851 of the Wyoming Business Corporation Act provides that a corporation may indemnify a director against liability incurred in a proceeding if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) (A) the director conducted himself in good faith; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) he reasonably believed that his conduct was in or at least not opposed to the corporation's best interests; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) in the case of any criminal proceeding, the director had no reasonable cause to believe his conduct was unlawful; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) (A) the director engaged in conduct for which broader indemnification
 has been made permissible or obligatory under a provision of the articles of incorporation, as authorized by Section 17-16-202(b)(v)
 of the Wyoming Business Corporation Act. A director's conduct with respect to an employee benefit plan for a purpose the director
 reasonably believed to be in the interests of the participants in and beneficiaries of the plan is conduct that satisfies the requirement
 of subparagraph (a)(i)(B) of Section 17-16-851. The termination of a proceeding by judgment, order, settlement, conviction,
 or upon a plea of nolo contendere or its equivalent is not, of itself, determinative that the director did not meet the standard
 of conduct described in Section 17-16-851. Article 10, Section 10.3 of our Bylaws state that we shall indemnify the directors and
 officers or any person who may have served at its request as a director or officer of the Corporation or of any other corporation
 in which it is a creditor, in the manner and to the full extent provided in the General Corporation Law of the State of Wyoming.

We have entered into indemnification agreements with certain of our directors and executive officers, and intend to enter into such agreements with all of our directors and executive officers, which require us to indemnify such individuals against expenses, judgments, fines, settlements and other amounts that any such person becomes legally obligated to pay (including with respect to a derivative action) in connection with any proceeding, whether actual or threatened, to which such person may be made a party by reason of the fact that such person is or was a director or officer of us or any of our affiliates, provided such person acted in good faith and in a manner such person reasonably believed to be in, or not opposed to, our best interests. We also intend to obtain a directors' and officers' liability insurance policy to insure directors and officers against indemnified losses arising from certain wrongful acts in their capacities as directors and officers and reimburse us for those losses for which we have lawfully indemnified the directors and officers. Such policy may contain various exclusions.

**ITEM 15. RECENT SALES OF UNREGISTERED SECURITIES.**

During the past three years, the Company has sold shares of common stock, preferred stock, warrants and convertible notes in a series of private placement transactions:

On August 1, 2022, Brian Podolak and James Sposato, each an officer and director of the Company, assigned to the Company (the "Parties") significant intellectual property pursuant to a Bill of Sale and Assignment entered into by the Parties ("Bill of Sale and Assignment"). The consideration for the assignment was 6,000,000 shares of the Company's common stock. Mr. Podolak and Mr. Sposato each received 3,000,000 shares, respectively.

During September of 2021, we filed a Form D with the United States Securities and Exchange Commission for a private placement in which we sold $1,150,000 worth of our common stock and warrants to purchase common stock.

Further, in September of 2021, we filed a second Form D with the United States Securities Commission, for a private placement, in which the total offering amount was $5,000,000, and we sold $2,000,000 worth of our common stock and warrants to purchase common stock, with another $3,000,000 remaining to be sold.

From July 2022 to September 2022, for which we filed a third Form D, where we sold an aggregate of $1,567,500 in convertible notes to approximately 20 investors in a private placement.

On December 23, 2022, we filed a fourth Form D, where an SPA was entered into between the Company and Emmis Capital II, LLC. The aggregate amount of the aggregate consideration for the private placement was $200,000. This private placement facilitated the sale of fifteen (15%) original discount senior Secured Convertible Notes (the "Notes"). Upon the effective date, the Notes shall convert to 5,000 shares of the Company's common stock effective immediately. The Company issued ten (10) notes, with an original issue discount of fifteen (15%) on the notes, upon the effective date the Notes shall convert to 5,000 shares of the Company's common stock effective immediately prior to the effective date. In addition to the notes, the company also sold two (2) warrants, each with a duration of three (3) years, with an exercise price per share of the Company's common stock under the warrants shall be equal to the product of the Conversion price (as defined in the Notes) and 120%.

All issuances of securities above were exempt from registration requirements of Section 5 of the Securities Act of 1933 as they did not involve a public offering under Section 4(a)(2) and were issued as restricted securities as defined in Rule 144 of the Act.

**ITEM 16. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.**

(a) Exhibits

The following is a list of exhibits being filed as part of, or incorporated by reference into, this registration statement.

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit<br> No.** | **Description** |
| [1.1](cm250_ex1-1.htm) | [Form of Underwriting Agreement](cm250_ex1-1.htm) |
| [3.1](cm250_ex3-1.htm) | [Articles of Incorporation](cm250_ex3-1.htm) |
| [3.1.1](cm250_ex3-1i.htm) | [Amendment to the Articles of Incorporation, dated October 21, 2022](cm250_ex3-1i.htm) |
| [3.2](cm250_ex3-2.htm) | [Certificate of Amendment to the Articles of Incorporation, dated January 27, 2023](cm250_ex3-2.htm) |
| [3.3](cm250_ex3-3.htm) | [Bylaws](cm250_ex3-3.htm) |
| [3.4](cm250_ex3-4.htm) | [Articles of Amendment to Certificate of Incorporation, dated August 29, 2022](cm250_ex3-4.htm) |
| [3.5](cm250_ex3-5.htm) | [Articles of Amendment to Certificate of Incorporation, dated August 6, 2021](cm250_ex3-5.htm) |
| [4.1](cm250_ex4-1.htm) | [Form of Representative's Warrant](cm250_ex4-1.htm) |
| [4.2](cm250_ex4-2.htm) | [Q3 2021 Vocodia Subscription Purchase Agreement, $5,000,000](cm250_ex4-2.htm) |
| [4.3](cm250_ex4-3.htm) | [Q2 2021 Vocodia Subscription Purchase Agreement, $1,150,000](cm250_ex4-3.htm) |
| [4.4+](cm250_ex4-4.htm) | [CFM Contribution Agreement](cm250_ex4-4.htm) |
| [4.5](cm250_ex4-5.htm) | [Q4 2022 Emmis Securities Purchase Agreement](cm250_ex4-5.htm) |
| [4.6](cm250_ex4-6.htm) | [Q4 2022 Emmis 15% Original Issue Discount Senior Secured Convertible Note](cm250_ex4-6.htm) |
| [4.7](cm250_ex4-7.htm) | [Q4 2022 Emmis Registration Rights Agreement](cm250_ex4-7.htm) |
| [4.8](cm250_ex4-8.htm) | [Form of Restricted Stock Units Agreement](cm250_ex4-8.htm) |
| [5.1](cm250_ex5-1.htm) | [Opinion of Carmel, Milazzo, and Feil LLP](cm250_ex5-1.htm) |
| [10.1](cm250_ex10-1.htm) | [Bill of Sale and Assignment](cm250_ex10-1.htm) |
| [10.2](cm250_ex10-2.htm) | [Commercial Lease](cm250_ex10-2.htm) |
| [10.3+](cm250_ex10-3.htm) | [Executive Employment Agreement for Mark Terrill, COO of Vocodia Holdings Corp](cm250_ex10-3.htm) |
| [10.4+](cm250_ex10-4.htm) | [Form of Independent Director Compensation Agreement for Lourdes Felix](cm250_ex10-4.htm) |
| [10.5+](cm250_ex10-5.htm) | [Form of Independent Director Compensation Agreement for Randall Miles](cm250_ex10-5.htm) |
| [10.6+](cm250_ex10-6.htm) | [Form of Independent Director Compensation Agreement for Ned L. Siegel](cm250_ex10-6.htm) |
| [14.1](cm250_ex14-1.htm) | [Code of Ethics and Business Standards](cm250_ex14-1.htm) |
| [21.1](cm250_ex21-1.htm) | [List of Subsidiaries](cm250_ex21-1.htm) |
| [23.1](cm250_ex23-1.htm) | [Consent of Daszkal Bolton LLP](cm250_ex23-1.htm) |
| [23.2](cm250_ex5-1.htm) | [Consent of Carmel, Milazzo, and Feil LLP (included in Exhibit 5.1)](cm250_ex5-1.htm) |
| [24.1](#b_001) | [Power of attorney (included on the signature page of this registration statement)](#b_001) |
| [99.1](cm250_ex99-1.htm) | [Director Consent for Lourdes Felix](cm250_ex99-1.htm) |
| [99.2](cm250_ex99-2.htm) | [Director Consent for Randall Miles](cm250_ex99-2.htm) |
| [99.3](cm250_ex99-3.htm) | [Director Consent for Ned L. Siegel](cm250_ex99-3.htm) |
| [107](cm250_ex107.htm) | [Fee Table](cm250_ex107.htm) |

---

+ Indicates a management contract or any compensatory plan, contract or arrangement.

(b) Financial Statement Schedules

See Page F-1 for an index of the financial statements that are being filed as part of this registration statement.

**ITEM 17. UNDERTAKINGS.**

The undersigned registrant hereby undertakes:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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 the shares of common stock offered (if the total dollar value of the shares of common offered
 would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may
 be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and
 price represent no more than 20% change in the maximum aggregate offering price set forth in the "*Calculation of Registration Fee*" table in the effective registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities
 Act, 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;(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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) That, for the purpose of determining liability under the Securities
 Act to any purchaser, if the registrant is subject to Rule 430C, each prospectus filed pursuant to Rule 424(b) as part of a registration
 statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance
 on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness.
 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 first use, 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 date of first use.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) That, for the purpose of determining liability of the registrant under
 the Securities Act to any purchaser in the initial distribution of the shares of common stock, the undersigned registrant undertakes
 that in a primary offering of the shares of common stock of the undersigned registrant pursuant to this registration statement, regardless
 of the underwriting method used to sell the shares of common stock to the purchaser, if the shares of common stock 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 shares of common stock to such purchaser:

&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;

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

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

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Act 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 shares of common stock 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 and will be governed by the final adjudication of such issue.

The undersigned registrant hereby undertakes to provide to the underwriter at the closing specified in the underwriting agreements certificates in such denominations and registered in such names as required by the underwriter to permit prompt delivery to each purchaser.

The undersigned registrant hereby undertakes that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) For purposes of determining any liability under
 the Securities Act, the information omitted from the form of prospectus filed as part of this registration statement in reliance
 upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b) (1) or (4) or 497(h) under the
 Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective.

(2) For the purpose of determining any liability under
 the Securities Act, each post-effective amendment that contains a form of prospectus 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.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Boca Raton, State of Florida, on the 31st day of January 2023.

---

| | |
|:---|:---|
| **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
| By: | /s/ Brian Podolak |
| Name: | Brian Podolak |
| Title: | Chief Executive Officer <br> (Principal Executive Officer) |

---

---

| | |
|:---|:---|
| By: | /s/ Richard Shuster |
| Name: | Richard Shuster |
| Title: | Chief Financial Officer (Principal Accounting Officer) |

---

**POWER OF ATTORNEY**

KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Brian Podolak his/her true and lawful attorney-in-fact and agent with full power of substitution and re-substitution, for him/her and in his or her name, place and stead, in any and all capacities to sign any or all amendments (including, without limitation, post-effective amendments) to this Registration Statement, any related Registration Statement filed pursuant to Rule 462(b) under the Securities Act of 1933 and any or all pre- or post-effective amendments thereto, and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming that said attorney-in-fact and agent, or any substitute or substitutes for him or her, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Brian Podolak |  |  |
| Brian Podolak | Chief Executive Officer and Director | January 31, 2023 |
| /s/ James Sposato |  |  |
| James Sposato | Chief Technology Officer and Director | January 31, 2023 |
| /s/ Richard Shuster |  |  |
| Richard Shuster | Chief Financial Officer | January 31, 2023 |

---

## Exhibit 1.1

**Exhibit 1.1**

**UNDERWRITING AGREEMENT**

**by and between**

**vocodia holdings corp**

**And**

**ALEXANDER CAPITAL, L.P., as Representative of the Several Underwriters**

**vocodia holdings corp**

**<u>UNDERWRITING AGREEMENT</u>**

[●], 2023

Alexander Capital, L.P.<br> As Representative of the several Underwriters named on <u>Schedule 1</u> attached hereto

c/o Alexander Capital, L.P.

17 State Street, 5th Floor

New York, NY 10004

Ladies and Gentlemen:

The undersigned, Vocodia Holdings Corp, a company incorporated under the laws of the State of Wyoming (collectively, with its Subsidiaries as hereinafter defined, the "*Company*"), hereby confirms its agreement (this "*Agreement*") with Alexander Capital, L.P., as the representative of the several underwriters named in <u>Schedule 1</u> hereto (the "*Representative*" and such other underwriters being collectively called the "*Underwriters*" or, individually, an "*Underwriter*") as follows:

1. <u>Purchase and Sale of Shares.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. <u>Firm Shares.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1.1. <u>Nature and Purchase of Firm Shares</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) On the basis of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company agrees to issue and sell to the several Underwriters, an aggregate of [●] shares (the "*Firm Shares*") of the Company's common stock, par value $0.0001 per share (the "*Common Stock*").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Underwriters, severally and not jointly, agree to purchase from the Company the number of Firm Shares set forth opposite their respective names on <u>Schedule 1</u> attached hereto and made a part hereof at a purchase price of $[●] per share ([●]% of the per Firm Share offering price). The Firm Shares are to be offered initially to the public at the offering price set forth on the cover page of the Prospectus (as defined in Section 2.1.1 hereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1.2. <u>Shares Payment and Delivery</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Delivery and payment for the Firm Shares shall be made at 10:00 a.m., Eastern time, on the third (3rd) Business Day following the effective date (the "*Effective Date*") of the Registration Statement (as defined in Section 2.1.1 below) (*i.e.*, the 2nd trading day after the initial day of trading on the Exchange (as defined in Section 2.2 below) (or the fourth (4th) Business Day following the Effective Date if the Registration Statement is declared effective after 4:01 p.m., Eastern time) (*i.e.*, the 3rd trading day after the initial day of trading on the Exchange) or at such other time as shall be agreed upon by the Representative and the Company, at the offices of Sullivan & Worcester LLP, 1633 Broadway, New York, NY 10019 ("*Representative Counsel*"), or at such other place (or remotely by other electronic transmission) as shall be agreed upon by the Representative and the Company. The hour and date of delivery and payment for the Firm Shares is called the "*Closing Date*."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Payment for the Firm Shares shall be made on the Closing Date by wire transfer in Federal (same day) funds, payable to the order of the Company, upon delivery of the certificates (in form and substance satisfactory to the Underwriters) representing the Firm Shares (or through the facilities of the Depository Trust Company ("*DTC*")) for the account of the Underwriters. The Firm Shares shall be registered in such name or names and in such authorized denominations as the Representative may request in writing at least two (2) full Business Days prior to the Closing Date. The Company shall not be obligated to sell or deliver the Firm Shares except upon tender of payment by the Representative for all of the Firm Shares. The term "*Business Day*" means any day other than a Saturday, a Sunday or a legal holiday or a day on which banking institutions are authorized or obligated by law to close in New York, New York.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. <u>Over-allotment Option.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.1. <u>Option Shares</u>. For the purposes of covering any over-allotments in connection with the distribution and sale of the Firm Shares, the Company hereby grants to the Underwriters an option to purchase up to [●] additional shares of Common Stock, representing fifteen percent (15%) of the Firm Shares sold in the offering, from the Company (the "*Over-allotment Option*"). Such [●] additional shares of Common Stock, the net proceeds of which will be deposited with the Company's account, are hereinafter referred to as "*Option Shares*." The purchase price to be paid per Option Share shall be equal to the price per Firm Share set forth in Section 1.1.1 hereof. The Firm Shares and the Option Shares are hereinafter referred to together as the "*Public Securities*." The offering and sale of the Public Securities is hereinafter referred to as the "*Offering*."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.2. <u>Exercise of Option</u>. The Over-allotment Option granted pursuant to Section 1.2.1 hereof may be exercised by the Representative as to all (at any time) or any part (from time to time) of the Option Shares within 45 days after the Effective Date. The Underwriters shall not be under any obligation to purchase any Option Shares prior to the exercise of the Over-allotment Option. The Over-allotment Option granted hereby may be exercised by the giving of oral notice to the Company from the Representative, which must be confirmed in writing by overnight mail or electronic transmission setting forth the number of Option Shares to be purchased and the date and time for delivery of and payment for the Option Shares (the "*Option Closing Date*"), which shall not be later than five (5) full Business Days after the date of the notice or such other time as shall be agreed upon by the Company and the Representative, at the offices of Representative Counsel or at such other place (including remotely other electronic transmission) as shall be agreed upon by the Company and the Representative. If such delivery and payment for the Option Shares does not occur on the Closing Date, the Option Closing Date will be as set forth in the notice. Upon exercise of the Over-allotment Option with respect to all or any portion of the Option Shares, subject to the terms and conditions set forth herein, (i) the Company shall become obligated to sell to the Underwriters the number of Option Shares specified in such notice and (ii) each of the Underwriters, acting severally and not jointly, shall purchase that portion of the total number of Option Shares then being purchased as set forth in <u>Schedule 1</u> opposite the name of such Underwriter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.3. <u>Payment and Delivery</u>. Payment for the Option Shares shall be made on the Option Closing Date by wire transfer in Federal (same day) funds, payable to the order of the Company upon delivery to the Representative of certificates (in form and substance satisfactory to the Underwriters) representing the Option Shares (or through the facilities of DTC) for the account of the Underwriters. The Option Shares shall be registered in such name or names and in such authorized denominations as the Representative may request in writing at least two (2) full Business Days prior to the Option Closing Date. The Company shall not be obligated to sell or deliver the Option Shares except upon tender of payment by the Representative for applicable Option Shares. The Option Closing Date may be simultaneous with, but not earlier than, the Closing Date; and in the event that such time and date are simultaneous with the Closing Date, the term "*Closing Date*" shall refer to the time and date of delivery of the Firm Shares and Option Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. <u>Representative's Warrants.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.1. <u>Purchase Warrants</u>. The Company hereby agrees to issue and sell to the Representative (and/or its designee(s)) on the Closing Date a warrant, substantially in the form attached hereto as <u>Exhibit A</u> (the "*Representative*'*s Warrants*") for the purchase of an aggregate of up to [●] shares of Common Stock, representing 3% of the Firm Shares (including the Option Shares)[, for an aggregate purchase price of $[●]. The Representative's Warrants shall be exercisable upon issuance, in whole or in part, commencing on a date which is 180 days after the commencement of sales of the Company's securities in connection with the Offering (the "*Commencement Date*") and shall be exercisable until the five-year anniversary of the Effective Date at an initial exercise price per share of Common Stock of $[●], which is equal to 120% of the initial public offering price of the Firm Shares. The Representative's Warrants and the shares of Common Stock issuable upon exercise thereof are hereinafter referred to together as the "*Representative*'*s Securities*." The Representative understands and agrees that there are significant restrictions pursuant to FINRA Rule 5110 against transferring the Representative's Warrants and the underlying shares of Common Stock during the one hundred eighty (180) days after the Commencement Date, and by its acceptance thereof, it shall agree that it will not sell, transfer, assign, pledge or hypothecate the Representative's Warrants, or any portion thereof, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of such securities for a period of one (1) year following the Commencement Date to anyone other than (i) an Underwriter or a selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representative or of any such Underwriter or selected dealer; and only if any such transferee agrees to the foregoing lock-up restrictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.2. <u>Delivery</u>. Delivery of the Representative's Warrants shall be made on the Closing Date and shall be issued in the name or names and in such authorized denominations as the Representative may request in writing.

2. <u>Representations and Warranties of the Company</u>. The Company represents and warrants to the Underwriters as of the Applicable Time (as defined below), as of the Closing Date and as of the Option Closing Date, if any, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. <u>Filing of Registration Statement.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1. <u>Pursuant to the Securities Act</u>. The Company has filed with the U.S. Securities and Exchange Commission (the "*Commission*") a registration statement, and an amendment or amendments thereto, on Form S-1 (File No. 333-[●]), including any related prospectus or prospectuses, for the registration of the Public Securities under the Securities Act of 1933, as amended (the "*Securities Act*"), which registration statement and amendment or amendments have been prepared by the Company in all material respects in conformity with the requirements of the Securities Act and the rules and regulations of the Commission under the Securities Act (the "*Securities Act Regulations*") and will contain all material statements that are required to be stated therein in accordance with the Securities Act and the Securities Act Regulations. Except as the context may otherwise require, such registration statement, as amended, on file with the Commission at the time the registration statement became effective (including the Preliminary Prospectus included in the registration statement, financial statements, schedules, exhibits and all other documents filed as a part thereof or incorporated therein and all information deemed to be a part thereof as of the Effective Date pursuant to paragraph (b) of Rule 430A of the Securities Act Regulations (the "*Rule 430A Information*")), is referred to herein as the "*Registration Statement*." If the Company files any registration statement pursuant to Rule 462(b) of the Securities Act Regulations, then after such filing, the term "Registration Statement" shall include such registration statement filed pursuant to Rule 462(b). The Registration Statement has been declared effective by the Commission on the date hereof.

Each prospectus used prior to the effectiveness of the Registration Statement, and each prospectus that omitted the Rule 430A Information that was used after such effectiveness and prior to the execution and delivery of this Agreement, is herein called a "*Preliminary Prospectus*." The Preliminary Prospectus, subject to completion, dated [●], 2023, that was included in the Registration Statement immediately prior to the Applicable Time is hereinafter called the "*Pricing Prospectus*." The final prospectus in the form first furnished to the Underwriters for use in the Offering is hereinafter called the "*Prospectus*." Any reference to the "most recent Preliminary Prospectus" shall be deemed to refer to the latest Preliminary Prospectus included in the Registration Statement.

 

 

*"Applicable Time*" means 5:00 p.m., Eastern time, on the date of this Agreement.

 

*"Issuer Free Writing Prospectus*" means any "issuer free writing prospectus," as defined in Rule 433 of the Securities Act Regulations ("*Rule 433*"), including without limitation any "free writing prospectus" (as defined in Rule 405 of the Securities Act Regulations) relating to the Public Securities that is (i) required to be filed with the Commission by the Company, (ii) a "road show that is a written communication" within the meaning of Rule 433(d)(8)(i), whether or not required to be filed with the Commission, or (iii) exempt from filing with the Commission pursuant to Rule 433(d)(5)(i) because it contains a description of the Public Securities or of the Offering that does not reflect the final terms, 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).

 

*"Issuer General Use Free Writing Prospectus*" means any Issuer Free Writing Prospectus that is intended for general distribution to prospective investors (other than a "*bona fide* electronic road show," as defined in Rule 433 (the "*Bona Fide Electronic Road Show*"))

 

*"Issuer Limited Use Free Writing Prospectus*" means any Issuer Free Writing Prospectus that is not an Issuer General Use Free Writing Prospectus.

 

*"Pricing Disclosure Package*" means the Pricing Prospectus and the information included on <u>Schedule 2-A</u> hereto, all considered together.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.2. <u>Pursuant to the Exchange Act</u>. The Company has filed with the Commission a Form 8-A (File Number 001-[●]) providing for the registration pursuant to Section 12(b) under the Securities Exchange Act of 1934, as amended (the "*Exchange Act*"), of the shares of Common Stock. The registration of the shares of Common Stock under the Exchange Act has been declared effective by the Commission on or prior to the date hereof. The Company has taken no action designed to, or likely to have the effect of, terminating the registration of the shares of Common Stock under the Exchange Act, nor has the Company received any notification that the Commission is contemplating terminating such registration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. *<u>Stock Exchange Listing</u>*. The shares of Common Stock have been approved for listing on the Nasdaq Capital Market (the "*Exchange*") subject only to official notice of issuance, and the Company has taken no action designed to, or likely to have the effect of, delisting the shares of Common Stock from the Exchange, nor has the Company received any notification that the Exchange is contemplating terminating such listing except as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3. *<u>No Stop Orders, etc</u>*. Neither the Commission nor, to the Company's knowledge, any state regulatory authority has issued any order preventing or suspending the use of the Registration Statement, any Preliminary Prospectus or the Prospectus or has instituted or, to the Company's knowledge, threatened to institute, any proceedings with respect to such an order. The Company has complied with each request (if any) from the Commission for additional information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4. <u>Disclosures in Registration Statement.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.1. <u>Compliance with Securities Act and 10b-5 Representation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each of the Registration Statement and any post-effective amendment thereto, at the time it became effective, complied in all material respects with the requirements of the Securities Act and the Securities Act Regulations. Each Preliminary Prospectus, including the prospectus filed as part of the Registration Statement as originally filed or as part of any amendment or supplement thereto, and the Prospectus, at the time each was filed with the Commission, complied in all material respects with the requirements of the Securities Act and the Securities Act Regulations. Each Preliminary Prospectus delivered to the Underwriters for use in connection with this Offering and the Prospectus was or will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Neither the Registration Statement nor any amendment thereto, at its effective time, as of the Applicable Time, at the Closing Date or at any Option Closing Date (if any), contained, contains or will contain an untrue statement of a material fact or omitted, omits or will omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Pricing Disclosure Package, as of the Applicable Time, at the Closing Date or at any Option Closing Date (if any), did not, does not and will not include an 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; and each Issuer Limited Use Free Writing Prospectus does not conflict in any material respect with the information contained in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, and each such Issuer Limited Use Free Writing Prospectus, as supplemented by and taken together with the Pricing Prospectus as of the Applicable Time, did not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to statements made or statements omitted in reliance upon and in conformity with written information furnished to the Company with respect to the Underwriters by the Representative expressly for use in the Registration Statement, the Pricing Prospectus or the Prospectus or any amendment thereof or supplement thereto. The parties acknowledge and agree that such information provided by or on behalf of any Underwriter consists solely of the disclosure contained in the "Underwriting" section of the Prospectus (the "*Underwriters*' *Information*").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Neither the Prospectus nor any amendment or supplement thereto (including any prospectus wrapper), as of its issue date, at the time of any filing with the Commission pursuant to Rule 424(b), at the Closing Date or at any Option Closing Date, included, includes or will include an untrue statement of a material fact or omitted, omits or will 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; provided, however, that this representation and warranty shall not apply to the Underwriters' Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.2. <u>Disclosure of Agreements</u>. The agreements and documents described in the Registration Statement, the Pricing Disclosure Package 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 and the Securities Act Regulations to be described in the Registration Statement, the Pricing Disclosure Package and the Prospectus or to be filed with the Commission as exhibits to the Registration Statement, that 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, the Pricing Disclosure Package 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. Except as disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus, 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 except for such defaults that would not reasonably be expected to result in a Material Adverse Change (as defined below). To 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 "*Governmental Entity*"), including, without limitation, those relating to environmental laws and regulations or taxes, except for such violations that would not reasonably be expected to result in any change or development that, singularly or in the aggregate, would involve a material adverse change, in or affecting the condition (financial or otherwise), results of operations, business, assets or prospects of the Company (a "*Material Adverse Change*").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.3. <u>Prior Securities Transactions</u>. No securities of the Company have been sold by the Company or by or on behalf of, or for the benefit of, any person or persons controlling, controlled by or under common control with the Company, except as disclosed in the Registration Statement, the Pricing Disclosure Package and the Preliminary Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.4. <u>Regulations</u>. The disclosures in the Registration Statement, the Pricing Disclosure Package and the Prospectus concerning the effects of federal, state, local and all foreign regulation on the Offering and the Company's business as currently contemplated are correct in all material respects and no other such regulations are required to be disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus which are not so disclosed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5. <u>Changes After Dates in Registration Statement.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5.1. <u>No Material Adverse Change</u>. Since the respective dates as of which information is given in the Registration Statement, the Pricing Disclosure Package and the Prospectus, except as otherwise specifically stated therein: (i) there has been no material adverse change in the financial position or results of operations of the Company (including its Subsidiaries), nor to the Company's knowledge, a Material Adverse Change; and (ii) there have been no material transactions entered into by the Company (including its Subsidiaries) not in the ordinary course of business, other than as contemplated pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5.2. <u>Recent Securities Transactions, etc</u>. Subsequent to the respective dates as of which information is given in the Registration Statement, the Pricing Disclosure Package and the Prospectus, and except as may otherwise be indicated or contemplated herein or disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus, the Company has not: (i) issued any securities, other than securities issued pursuant to the Company's existing equity incentive plans or shares issuable upon the exercise of then outstanding options, warrants and convertible securities, which in each case were disclosed in the Prospectus, Pricing Disclosure Package or the Registration Statement, or incurred any liability or obligation, direct or contingent, for borrowed money; or (ii) declared or paid any dividend or made any other distribution on or in respect to its capital stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6. *<u>Independent Accountants</u>*. To the knowledge of the Company, Daszkal Bolton LLP (the "*Auditor*"), whose report is filed with the Commission as part of the Registration Statement, the Pricing Disclosure Package and the Prospectus, is an independent registered public accounting firm as required by the Securities Act and the Securities Act Regulations and the Public Company Accounting Oversight Board. Except as disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus, the Auditor has not, during the periods covered by the financial statements included in the Registration Statement, the Pricing Disclosure Package and the Prospectus, provided to the Company any non-audit services, as such term is used in Section 10A(g) of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7. *<u>Financial Statements, etc</u>*. The financial statements, including the notes thereto and supporting schedules, if any, included in the Registration Statement, the Pricing Disclosure Package and the Prospectus, fairly in all material respects present the financial position and the results of operations of the Company at the dates and for the periods to which they apply; and such financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("*GAAP*"), consistently applied throughout the periods involved (provided that unaudited interim financial statements are subject to year-end audit adjustments that are not expected to be material in the aggregate and do not contain all footnotes required by GAAP); and any supporting schedules included in the Registration Statement present fairly in all material respects the information required to be stated therein. Except as included therein, no historical or pro forma financial statements are required to be included in the Registration Statement, the Pricing Disclosure Package or the Prospectus under the Securities Act or the Securities Act Regulations. The pro forma and pro forma as adjusted financial information and the related notes, if any, included in the Registration Statement, the Pricing Disclosure Package and the Prospectus have been properly compiled and prepared in accordance with the applicable requirements of the Securities Act and the Securities Act Regulations and present fairly in all material respects the information shown therein, and the assumptions used in the preparation thereof are reasonable and the adjustments used therein are appropriate to give effect to the transactions and circumstances referred to therein. All disclosures contained in the Registration Statement, the Pricing Disclosure Package or the Prospectus regarding "non-GAAP financial measures" (as such term is defined by the rules and regulations of the Commission), if any, comply with Regulation G of the Exchange Act and Item 10 of Regulation S-K of the Securities Act, to the extent applicable. Each of the Registration Statement, the Pricing Disclosure Package and the Prospectus discloses all material off-balance sheet transactions, arrangements, obligations (including contingent obligations), and other relationships of the Company with unconsolidated entities or other persons that may have a material current or future effect on the Company's financial condition, changes in financial condition, results of operations, liquidity, capital expenditures, capital resources, or significant components of revenues or expenses. Except as disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus, (a) neither the Company nor any of its subsidiaries, including each entity disclosed or described in the Registration Statement, the Pricing Disclosure Package and the Prospectus as being a subsidiary of the Company (each a "*Subsidiary*" and, collectively, the "*Subsidiaries*"), in the aggregate, has incurred any material liabilities or obligations, direct or contingent, or entered into any material transactions other than in the ordinary course of business, (b) the Company has not declared or paid any dividends or made any distribution of any kind with respect to its capital stock, (c) there has not been any change in the capital stock of the Company (including its Subsidiaries), or, other than in the course of business, any grants under any stock compensation plan, and (d) there has not been any Material Adverse Change in the Company's long-term or short-term debt. [The Company represents that it has no Subsidiaries other than those listed in Exhibit 21.1 to the Registration Statement.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8. *<u>Authorized Capital; Options, etc</u>*. The Company had, at the date or dates indicated in the Registration Statement, the Pricing Disclosure Package and the Prospectus, the duly authorized, issued and outstanding capitalization as set forth therein. Based on the assumptions stated in the Registration Statement, the Pricing Disclosure Package and the Prospectus, the Company will have on the Closing Date the adjusted stock capitalization set forth therein. Except as set forth in, or contemplated by, the Registration Statement, the Pricing Disclosure Package and the Prospectus, on the Effective Date, as of the Applicable Time and on the Closing Date and any Option Closing Date, there will be no stock options, warrants, or other rights to purchase or otherwise acquire any authorized, but unissued shares of Common Stock of the Company or any security convertible or exercisable into shares of Common Stock of the Company, or any contracts or commitments to issue or sell shares of Common Stock or any such options, warrants, rights or convertible securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9. <u>Valid Issuance of Securities, etc.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9.1. <u>Outstanding Securities</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 shares of Common Stock conform in all material respects to all statements relating thereto contained in the Registration Statement, the Pricing Disclosure Package and the Prospectus. The offers and sales of the outstanding shares of Common Stock 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, as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus, accurately and fairly present, in all material respects, the information required to be shown with respect to such stock plans, arrangements and the options and rights granted thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9.2. <u>Securities Sold Pursuant to this Agreement</u>. The Public Securities and Representative's Securities have been duly authorized for issuance and sale and, when issued and paid for, will be validly issued, fully paid and non-assessable; the holders thereof are not and will not be subject to personal liability by reason of being such holders; the Public Securities and Representative's Securities are not and will not be subject to the preemptive rights of any holders of any security of the Company or similar contractual rights granted by the Company; and all corporate action required to be taken for the authorization, issuance and sale of the Public Securities and Representative's Securities has been duly and validly taken. The Public Securities and Representative's Securities conform in all material respects to all statements with respect thereto contained in the Registration Statement, the Pricing Disclosure Package and the Prospectus. All corporate action required to be taken for the authorization, issuance and sale of the Representative's Warrants has been duly and validly taken; the shares of Common Stock issuable upon exercise of the Representative's Warrants have been duly authorized and reserved for issuance by all necessary corporate action on the part of the Company and when paid for and issued in accordance with the Representative's Warrants, such shares of Common Stock will be validly issued, fully paid and non-assessable; the holders thereof are not and will not be subject to personal liability by reason of being such holders; and such shares of Common Stock are not and will not be subject to the preemptive rights of any holders of any security of the Company or similar contractual rights granted by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10. *<u>Registration Rights of Third Parties</u>*. Except as set forth in the Registration Statement, the Pricing Disclosure Package and the Prospectus, no holders of any securities of the Company or any rights exercisable for or convertible or exchangeable into securities of the Company have the right to require the Company to register any such securities of the Company under the Securities Act or to include any such securities in a registration statement to be filed by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11. *<u>Validity and Binding Effect of Agreements</u>*. This Agreement and the Representative's Warrants have been duly and validly authorized by the Company, and, when executed and delivered, will constitute, the valid and binding agreements of the Company, enforceable against the Company in accordance with their respective terms, except: (i) as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors' rights generally; (ii) as enforceability of any indemnification or contribution provision may be limited under the federal and state securities laws; and (iii) 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12. *<u>No Conflicts, etc</u>*. The execution, delivery and performance by the Company of this Agreement, the Representative's Warrants and all ancillary documents, the consummation by the Company of the transactions herein and therein contemplated and the compliance by the Company with the terms hereof and thereof do not and will not, with or without the giving of notice or the lapse of time or both: (i) result in a material breach of, or conflict in any material respect with any of the terms and provisions of, or constitute a material default under, or result in the creation, modification, termination or imposition of any material lien, charge or encumbrance upon any property or assets of the Company pursuant to the terms of any agreement or instrument to which the Company is a party; (ii) result in any violation of the provisions of the Company's articles of incorporation (as the same may be amended or restated from time to time, the "*Charter*") or the bylaws of the Company (the "*Bylaws*"); or (iii) violate any existing applicable law, rule, regulation, judgment, order or decree of any Governmental Entity as of the date hereof; except in the cases of clause (iii) above, for such breaches, conflicts or defaults that would not reasonably be expected to result in a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13. *<u>No Defaults; Violations</u>*. No material default exists in the due performance and observance of any term, covenant or condition of any material license, contract, indenture, mortgage, deed of trust, note, loan or credit agreement, or any other agreement or instrument evidencing an obligation for borrowed money, or any other material agreement or instrument to which the Company is a party or by which the Company may be bound or to which any of the properties or assets of the Company is subject. The Company is not in violation of any term or provision of its Charter or Bylaws, or corresponding governing documents, as applicable. The Company is not in violation of any franchise, license, permit, applicable law, rule, regulation, judgment or decree of any Governmental Entity, except for such violations that would not reasonably be expected to result in a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14. <u>Corporate Power; Licenses; Consents.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14.1. <u>Conduct of Business</u>. Except as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus, the Company (including each Subsidiary) has all requisite corporate power and authority, and has all necessary authorizations, approvals, orders, licenses, certificates and permits ("*Permits*") of and from any Governmental Entity that it needs as of the date hereof to conduct its business purpose as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus, except for such Permits the absence of which would not reasonably be expected to have a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14.2. <u>Transactions Contemplated Herein</u>. The Company has all corporate power and authority to enter into this Agreement and to carry out the provisions and conditions hereof, and all consents, authorizations, approvals and orders required in connection therewith have been obtained. No consent, authorization or order of, and no filing with, any court, government agency or other body is required for the valid issuance, sale and delivery of the Public Securities and the consummation of the transactions and agreements contemplated by this Agreement and the Representative's Warrants and as contemplated by the Registration Statement, the Pricing Disclosure Package and the Prospectus, except with respect to applicable federal and state securities laws and the rules and regulations of the Financial Industry Regulatory Authority, Inc. ("*FINRA*").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15. *<u>D&O Questionnaires</u>*. To the Company's knowledge, all information contained in the questionnaires (the "*Questionnaires*") completed by each of the Company's directors and officers immediately prior to the Offering (the "*Insiders*") as supplemented by all information concerning the Company's directors, officers and principal stockholders as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus, as well as in the Lock-Up Agreements (as defined in Section 2.24 below), provided to the Underwriters, is true and correct in all material respects and the Company has not become aware of any information which would cause the information disclosed in the Questionnaires to become materially inaccurate or incorrect in any material respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16. *<u>Litigation; Governmental 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, the Pricing Disclosure Package and the Prospectus or in connection with the Company's listing application for the listing of the Public Securities on the Exchange, which individually or in the aggregate, if determined adversely to the Company would reasonably be expected to have a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17. *<u>Good Standing</u>*. The Company has been duly organized and is validly existing as a corporation and is in good standing under the laws of the State of Wyoming as of the date hereof, and is duly qualified to do business and is in good standing in each other jurisdiction in which its ownership or lease of property or the conduct of business requires such qualification, except where the failure to qualify, singularly or in the aggregate, would not have or reasonably be expected to result in a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18. *<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 reasonably be expected to result in a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19. <u>Transactions Affecting Disclosure to FINRA.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19.1. <u>Finder's Fees</u>. Except as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus, there are no claims, payments, arrangements, agreements or understandings relating to the payment of a finder's, consulting or origination fee by the Company or any Insider with respect to the sale of the Public Securities hereunder or any other arrangements, agreements or understandings of the Company or, to the Company's knowledge, any of its stockholders that may affect the Underwriters' compensation, as determined by FINRA and neither the Company nor, to the Company's knowledge any Insider has paid any monies or other compensation or issued any securities to any member of FINRA, or to any affiliate or associate of such a member, regarding this Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19.2. <u>Payments Within Twelve (12) Months</u>. Except as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus, the Company has not made any direct or indirect payments (in cash, securities or otherwise) in connection with the Offering to: (i) any person, as a finder's fee, consulting fee or otherwise, in consideration of such person raising capital for the Company or introducing to the Company persons who raised or provided capital to the Company; (ii) any FINRA member; or (iii) any person or entity that has any direct or indirect affiliation or association with any FINRA member, within the twelve (12) months prior to the Effective Date, other than the payment to the Underwriters as provided hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19.3. <u>Use of Proceeds</u>. None of the net proceeds of the Offering will be paid by the Company to any participating FINRA member or its affiliates, except as specifically authorized herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19.4. <u>FINRA Affiliation</u>. (i) No officer or director of the Company, and to the knowledge of the Company (ii) no beneficial owner of 5% or more of any class of the Company's securities and (iii) no beneficial owner of the Company's unregistered equity securities which were acquired during the 180-day period immediately preceding the filing of the Registration Statement, that is an affiliate or associated person of a FINRA member participating in the Offering (as determined in accordance with the rules and regulations of FINRA).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19.5. <u>Information</u>. All information provided by the Company in its FINRA questionnaire to Representative Counsel specifically for use by Representative Counsel in connection with its Public Offering System filings (and related disclosure) with FINRA is true, correct and complete in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20. *<u>Foreign Corrupt Practices Act</u>*. None of the Company nor its Subsidiaries, to the Company's knowledge, any director, officer, agent, employee or affiliate of the Company or any of its Subsidiaries or any other person acting on behalf of the Company or any of its Subsidiaries, has, directly or indirectly, given or agreed to give any money, gift or similar benefit (other than legal price concessions to customers in the ordinary course of business) to any customer, supplier, employee or agent of a customer or supplier, or official or employee of any Governmental Entity or any political party or candidate for office (domestic or foreign) or other person who was, is, or may be in a position to help or hinder the business of the Company (or assist it in connection with any actual or proposed transaction) that (i) might subject the Company to any damage or penalty in any civil, criminal or governmental litigation or proceeding, (ii) if not given in the past, might have caused a Material Adverse Change or (iii) if not continued in the future, might adversely affect the assets, business, operations or prospects of the Company. The Company has taken reasonable steps to ensure that its accounting controls and procedures are sufficient to cause the Company to comply in all material respects with the Foreign Corrupt Practices Act of 1977, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21. *<u>Compliance with OFAC</u>*. None of the Company nor its Subsidiaries, to the Company's knowledge, any director, officer, agent, employee or affiliate of the Company or any other person acting on behalf of the Company or any of its Subsidiaries, is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury ("*OFAC*"), and neither the Company nor any of its Subsidiaries will knowingly, directly or indirectly, use the proceeds of the Offering hereunder, or lend, contribute or otherwise make available such proceeds to any 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;2.22. *<u>Money Laundering Laws</u>*. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance in all material respects 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 Entity (collectively, the "*Money Laundering Laws*"); and no action, suit or proceeding by or before any Governmental Entity involving the Company with respect to the Money Laundering Laws is pending or, to the best knowledge of the Company, threatened.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.23. *<u>Officers</u>*<u>' *Certificate*</u>. Any certificate signed by any duly authorized officer of the Company and delivered to the Representative or to Representative Counsel shall be deemed a representation and warranty by the Company to the Underwriters as to the matters covered thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24. *<u>Lock-Up Agreements</u>*. Schedule 3 hereto contains a complete and accurate list of the Company's officers, directors and each owner of <u>[●]</u> the Company's outstanding shares of Common Stock (or securities convertible or exercisable into shares of Common Stock) that will be subject to a Lock-Up Agreement (collectively, the "*Lock-Up Parties*"). The Company has caused each of the Lock-Up Parties to deliver to the Representative an executed Lock-Up Agreement, in the form attached hereto as Exhibit B (the "*Lock-Up Agreement*"), prior to the execution of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25. *<u>[Subsidiaries</u>*. Each of the Subsidiaries of the Company is duly organized or incorporated as applicable and in good standing under the laws of its place of organization or incorporation, and each such Subsidiary is in good standing in each jurisdiction in which its ownership or lease of property or the conduct of business requires such qualification, except where the failure to qualify would not have a Material Adverse Change on the assets, business or operations of the Company and its Subsidiaries taken as a whole. The Company's ownership and control of each Subsidiary is as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26. *<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, the Pricing Disclosure Package and the Prospectus that have not been described as required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.27. *<u>Board of Directors</u>*. The Board of Directors of the Company is comprised of the persons set forth under the heading of the Pricing Prospectus and the Prospectus captioned "*Management*." The qualifications of the persons serving as board members and the overall composition of the board comply with the Exchange Act, the Exchange Act Regulations, the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder (the "*Sarbanes-Oxley Act*") applicable to the Company and the listing rules of the Exchange. 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 qualify as "independent," as defined under the listing rules of the Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28. *<u>Sarbanes-Oxley Compliance</u>*. Upon consummation of the Offering, the Company will design and implement internal controls in accordance with the requirements of the Sarbanes-Oxley Act. Upon such design and implementation, the Company will comply with the Disclosure, Compliance, and Accounting Controls in all material respects with Rule 13a-15 or 15d-15 under the Exchange Act Regulations, and such controls and procedures, when implemented, will be effective to ensure that all material information concerning the Company will be made known on a timely basis to the individuals responsible for the preparation of the Company's Exchange Act filings and other public disclosure documents, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29. *<u>Accounting Controls</u>*. The Company and its Subsidiaries maintain systems of "internal control over financial reporting" (as defined under Rules 13a-15 and 15d-15 under the Exchange Act Regulations) that comply in all material respects with the requirements of the Exchange Act applicable to the Company and have been designed by, or under the supervision of, their respective 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 GAAP, including, but not limited to, internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management's general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management's general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Except as disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus, the Company is not aware of any material weaknesses in its internal controls. The Company's auditors and the Audit Committee of the Board of Directors of the Company have been advised of: (i) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are known to the Company's management and that have adversely affected or are reasonably likely to adversely affect the Company's ability to record, process, summarize and report financial information; and (ii) any fraud known to the Company's management, whether or not material, that involves management or other employees who have a significant role in the Company's internal controls over financial reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30. *<u>No Investment Company Status</u>*. The Company is not and, after giving effect to the Offering and the application of the proceeds thereof as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus, will not be, required to register as an "investment company," as defined in the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31. *<u>No Labor Disputes</u>*. No labor dispute with the employees of the Company or any of its Subsidiaries exists or, to the knowledge of the Company, is imminent. The Company is not aware that any key employee or significant group of employees of the Company or any of its Subsidiaries plans to terminate employment with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.32. *<u>Intellectual Property Rights</u>*. The Company and each of its Subsidiaries 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 ("*Intellectual Property Rights*") necessary for the conduct of the business of the Company and each of its Subsidiaries as currently carried on and as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus. To the knowledge of the Company, no action or use by the Company or any of its Subsidiaries necessary for the conduct of its business as currently carried on and 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 (other than license or similar fees described or contemplated in the Registration Statement, the Pricing Disclosure Package and the Prospectus). Neither the Company nor any of its Subsidiaries has not received any notice alleging any such infringement, fee or conflict with asserted Intellectual Property Rights of others. Except as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus and 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 referred to in this Section 2.32, 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 referred to in this Section 2.32, 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 referred to in this Section 2.32, reasonably be expected to result in a Material Adverse Change; and (E) to the Company's knowledge, no employee of the Company or any Subsidiary 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. Neither the Company nor any of its Subsidiaries is 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, the Pricing Disclosure Package and the Prospectus and are not described therein. The Registration Statement, the Pricing Disclosure Package and the Prospectus contain in all material respects the same description of the matters set forth in the preceding sentence. None of the technology employed by the Company or any of its Subsidiaries has been obtained or is knowingly being used by the Company in material violation of any contractual obligation binding on the Company or, to the Company's knowledge, any of their respective officers, directors or employees, or otherwise in material violation of the rights of any persons. The Company and each of its Subsidiaries own or have a valid right to access and use all computer systems, networks, hardware, software, databases, websites, and equipment used to process, store, maintain and operate data, information, and functions used in connection with the business of the Company and each of its Subsidiaries (the "*Company IT Systems*"). The Company IT Systems are adequate for, and operate and perform in all material respects as required in connection with, the operation of the business of the Company and each of its Subsidiaries as currently conducted, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company and each of its Subsidiaries have implemented commercially reasonable backup, security and disaster recovery technology consistent in all material respects with applicable regulatory standards and customary industry practices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.33. *<u>Taxes</u>*. Each of the Company and its Subsidiaries has filed all material 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. The Company has paid all material taxes (as hereinafter defined) shown as due on such returns that were filed and has paid all material taxes imposed on or assessed against the Company or any of its Subsidiaries. The provisions for taxes payable, if any, shown on the financial statements filed with or as part of the Registration Statement are sufficient for all accrued and unpaid material taxes, whether or not disputed, and for all periods to and including the dates of such consolidated financial statements. Except as disclosed in writing to the Underwriters, (i) no material 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 or any of its Subsidiaries, 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 or any of its Subsidiaries. There are no tax liens against the assets, properties or business of the Company or its Subsidiaries other than liens for taxes not yet delinquent or being contested in good faith by appropriate proceedings and for which reserves in accordance with GAAP have been established in the Company's books and records. The term "material taxes" 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, other than those taxes, the failure of which to have paid, would not result in a Material Adverse Change. The term "material returns" means all returns, declarations, reports, statements and other documents required to be filed in respect to taxes, other than those returns, the failure of which to have filed, would not result in a Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.34. *<u>ERISA Compliance</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. "*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 "*Code*") of which the Company is a member. 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35. *<u>Compliance with Laws</u>*. The Company, including each of its Subsidiaries: (A) is and at all times has been in compliance with all statutes, rules, or regulations applicable to the ownership, testing, development, manufacture, packaging, processing, use, distribution, marketing, labeling, promotion, sale, offer for sale, storage, import, export or disposal of any product manufactured or distributed by the Company ("*Applicable Laws*"), except as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Change (any such noncompliance being referred to as "nonmaterial noncompliance" for the purposes of this Section 2.35); (B) has not received any warning letter, untitled letter or other correspondence or notice from any other Governmental Entity alleging or asserting material noncompliance with any Applicable Laws or any licenses, certificates, approvals, clearances, authorizations, permits and supplements or amendments thereto required by any such Applicable Laws ("*Authorizations*"); (C) possesses all material Authorizations and such material Authorizations are valid and in full force and effect and are not in material violation of any term of any such Authorizations; (D) has not received notice of any claim, action, suit, proceeding, hearing, enforcement, investigation, arbitration or other action from any Governmental Entity or third party alleging that any product operation or activity is in violation of any Applicable Laws or Authorizations and has no knowledge that any such Governmental Entity or third party is considering any such claim, litigation, arbitration, action, suit, investigation or proceeding that if brought would result in a Material Adverse Change; (E) has not received notice that any Governmental Entity has taken, is taking or intends to take action to limit, suspend, modify or revoke any Authorizations and has no knowledge that any such Governmental Entity is considering such action; (F) has filed, obtained, maintained or submitted all material reports, documents, forms, notices, applications and records, as required by any Applicable Laws or Authorizations and that all such reports, documents, forms, notices, applications, and records, were complete and correct in all material respects on the date filed (or were corrected or supplemented by a subsequent submission), except where the failure to file, obtain, maintain or submit would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change; and (G) has not, either voluntarily or involuntarily, initiated, conducted, or issued or caused to be initiated, conducted or issued, any recall, market withdrawal or replacement, safety alert, post-sale warning, or other notice or action relating to the alleged lack of safety or any alleged product defect or violation and, to the Company's knowledge, no third party has initiated, conducted or intends to initiate any such notice or action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36. <u>Environmental Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36.1. The business and operations of the Company, have been and are being conducted in compliance with all applicable laws, ordinances, rules, regulations, licenses, permits, approvals, plans, authorizations or requirements relating to occupational safety and health, or pollution, or protection of health or the environment (including, without limitation, those relating to emissions, discharges, releases or threatened releases of pollutants, contaminants or hazardous or toxic substances, materials or wastes into ambient air, surface water, groundwater or land, or relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of chemical substances, pollutants, contaminants or hazardous or toxic substances, materials or wastes, whether solid, gaseous or liquid in nature) of any governmental department, commission, board, bureau, agency or instrumentality of the United States, any state or political subdivision thereof, or to the knowledge of the Company, any foreign jurisdiction ("*Environmental Laws*"), and all applicable judicial or administrative agency or regulatory decrees, awards, judgments and orders relating thereto, except where the failure to be in such compliance would not be reasonably expected, individually or in the aggregate, to have a Material Adverse Change; and the Company has not received any notice from any governmental instrumentality or any third party alleging any material violation thereof or liability thereunder (including, without limitation, liability for costs of investigating or remediating sites containing hazardous substances and/or damages to natural resources).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36.2. There has been no storage, generation, transportation, use, handling, treatment, Release or threat of Release of Hazardous Materials (as defined below) by or caused by the Company (or, to the knowledge of the Company, any other entity (including any predecessor) for whose acts or omissions the Company is or could reasonably be expected to be liable) at, on, under or from any property or facility now or previously owned, operated or leased by the Company, or at, on, under or from any other property or facility, in violation of any Environmental Laws or in a manner or amount or to a location that could reasonably be expected to result in any liability under any Environmental Law, except for any violation or liability which would not, individually or in the aggregate, have a Material Adverse Change. "*Hazardous Materials*" means any material, chemical, substance, waste, pollutant, contaminant, compound, mixture, or constituent thereof, in any form or amount, including petroleum (including crude oil or any fraction thereof) and petroleum products, natural gas liquids, asbestos and asbestos containing materials, naturally occurring radioactive materials, brine, and drilling mud, regulated or which can give rise to liability under any Environmental Law. "*Release*" means any spilling, leaking, seepage, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, disposing, depositing, dispersing, or migrating in, into or through the environment, or in, into from or through any building or structure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.37. *<u>Ineligible Issuer</u>*. At the time of filing the Registration Statement and any post-effective amendment thereto, at the time of effectiveness of the Registration Statement and any amendment thereto, at the earliest time thereafter that the Company or another offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) of the Securities Act Regulations) of the Public Securities, and at the date hereof, the Company was not and is not an "ineligible issuer," as defined in Rule 405, without taking account of any determination by the Commission pursuant to Rule 405 that it is not necessary that the Company be considered an ineligible issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38. *<u>Real and Personal Property</u>*. Except as set forth in the Registration Statement, the Pricing Disclosure Package and the Prospectus, the Company (including its Subsidiaries) has good and marketable title in fee simple to, or have valid rights to lease or otherwise use, all items of real or personal property which are material to the business of the Company and its Subsidiaries taken as a whole, in each case free and clear of all 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 or its Subsidiaries; and all of the leases and subleases material to the business of the Company and its Subsidiaries, considered as one enterprise, and under which the Company or any of its Subsidiaries holds properties described in the Registration Statement, the Pricing Disclosure Package and the Prospectus, are in full force and effect, and neither the Company nor any Subsidiary 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 or any Subsidiary under any of the leases or subleases mentioned above, or affecting or questioning the rights of the Company or any Subsidiary to the continued possession of the leased or subleased premises under any such lease or sublease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.39. *<u>Contracts Affecting Capital</u>*. There are no transactions, arrangements or other relationships between and/or among the Company, any of its affiliates (as such term is defined in Rule 405 of the Securities Act Regulations) and any unconsolidated entity, including, but not limited to, any structured finance, special purpose or limited purpose entity that could reasonably be expected to materially affect the Company's and its Subsidiaries' liquidity or the availability of or requirements for their capital resources required to be described or incorporated by reference in the Registration Statement, the Pricing Disclosure Package and the Prospectus which have not been described or incorporated by reference as required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40. *<u>Loans to Directors or Officers</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 or its Subsidiaries to or for the benefit of any of the officers or directors of the Company, its Subsidiaries, or any of their respective family members, except as disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.41. *<u>Smaller Reporting Company</u>*. As of the time of filing of the Registration Statement, the Company was a "smaller reporting company," as defined in Rule 12b-2 of the Exchange Act Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.42. *<u>Industry Data</u>*. The statistical and market-related data included in each of the Registration Statement, the Pricing Disclosure Package 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;2.43. *<u>Testing-the-Waters Communications</u>*. The Company has not (i) alone engaged in any Testing-the-Waters Communications, other than Testing-the-Waters Communications with the written consent of the Representative and with entities that are qualified institutional buyers within the meaning of Rule 144A under the Securities Act or institutions that are accredited investors within the meaning of Rule 501 under the Securities Act and (ii) authorized anyone other than the Representative to engage in Testing-the-Waters Communications. "*Testing-the-Waters Communication*" means any oral or written communication with potential investors undertaken in reliance on Section 5(d) of the Securities Act. The Company confirms that the Representative has been authorized to act on its behalf in undertaking Testing-the-Waters Communications. The Company has not distributed any Written Testing-the-Waters Communications other than those listed on Schedule 2-B hereto. "*Written Testing-the-Waters Communication*" means any Testing-the-Waters Communication that is a written communication within the meaning of Rule 405 under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.44. *<u>Margin Securities</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 of Offering 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 Common Stock 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;2.45. *<u>[Dividends and Distributions</u>*. Except as disclosed in the Pricing Disclosure Package, Registration Statement and the Prospectus, no Subsidiary of the Company is currently prohibited or restricted, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such Subsidiary's capital stock, (to the extent that any such prohibition or restriction on dividends and/or distributions would have a material effect to the Company), from repaying to the Company any loans or advances to such Subsidiary from the Company or from transferring any of such Subsidiary's property or assets to the Company or any other Subsidiary of the Company except as may otherwise be provided in current loan or mortgage-related documents]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.46. *<u>[Confidentiality and Non-Competition</u>*. To the Company's knowledge, no key executive officer of the Company or any Subsidiary is subject to any confidentiality, non-disclosure, non-competition agreement or non-solicitation agreement with any employer (other than the Company) or prior employer that could materially affect his or her ability to be and act in his or her respective capacity of the Company or such Subsidiary or reasonably be expected to result in a Material Adverse Change.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.47. *<u>Corporate Records</u>*. The minute books of the Company have been made available to the Representative and Representative Counsel and such books (i) contain minutes of all material meetings and actions of the Board of Directors (including each board committee) and stockholders of the Company, and (ii) reflect all material transactions referred to in such minutes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.48. *<u>Diligence Materials</u>*. The Company has provided to the Representative and Representative Counsel all materials required or necessary to respond in all material respects to the diligence request submitted to the Company or its counsel by the Representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.49. *<u>Stabilization</u>*. Neither the Company nor, to its knowledge, any of its employees, directors or stockholders (without the consent of the Representative) has taken any action designed to or that has constituted or that might reasonably be expected to cause or result in, under Regulation M of the Exchange Act, or otherwise, stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Public Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50. *<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.

3. <u>Covenants of the Company</u>. The Company covenants and agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. *<u>Amendments to Registration Statement</u>*. Until the later of the Closing Date and the exercise in full or expiration of the Over-allotment Option specified in Section 1.2 hereof, the Company shall deliver to the Representative, prior to filing, any amendment or supplement to the Registration Statement or Prospectus proposed to be filed after the Effective Date and not file any such amendment or supplement to which the Representative shall reasonably object in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. <u>Federal Securities Laws</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.1. <u>Compliance</u>. Until the later of the Closing Date and the exercise in full or expiration of the Over-allotment Option specified in Section 1.2 hereof, the Company, subject to Section 3.2.2, shall comply in all material respects with the requirements of Rule 430A of the Securities Act Regulations, and will notify the Representative promptly, and confirm the notice in writing, (i) when any post-effective amendment to the Registration Statement shall become effective or any amendment or supplement to the Prospectus shall have been filed; (ii) of the receipt of any comments from the Commission; (iii) of any request by the Commission for any amendment to the Registration Statement or any amendment or supplement to the Prospectus or for additional information; (iv) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or any post-effective amendment or of any order preventing or suspending the use of any Preliminary Prospectus or the Prospectus, or of the suspension of the qualification of the Public Securities and Representative's Securities for offering or sale in any jurisdiction, or of the initiation or threatening of any proceedings for any of such purposes or of any examination pursuant to Section 8(d) or 8(e) of the Securities Act concerning the Registration Statement; and (v) if the Company becomes the subject of a proceeding under Section 8A of the Securities Act in connection with the Offering of the Public Securities and Representative's Securities. The Company shall effect all filings required under Rule 424(b) of the Securities Act Regulations, in the manner and within the time period required by Rule 424(b) (without reliance on Rule 424(b)(8)), and shall take such steps as it deems reasonably necessary to ascertain promptly whether the form of prospectus transmitted for filing under Rule 424(b) was received for filing by the Commission and, in the event that it was not, it will promptly file such prospectus. The Company shall use its commercially reasonable efforts to prevent the issuance of any stop order, prevention or suspension and, if any such order is issued, to obtain the lifting thereof at the earliest possible moment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.2. <u>Continued Compliance</u>. Until the later of the Closing Date and the exercise in full or expiration of the Over-allotment Option specified in Section 1.2 hereof, the Company shall comply in all material respects with the Securities Act, the Securities Act Regulations, the Exchange Act and the Exchange Act Regulations so as to permit the completion of the distribution of the Public Securities as contemplated in this Agreement and in the Registration Statement, the Pricing Disclosure Package and the Prospectus. If at any time when a prospectus relating to the Public Securities is (or, but for the exception afforded by Rule 172 of the Securities Act Regulations ("*Rule 172*"), would be) required by the Securities Act to be delivered in connection with sales of the Public Securities, any event shall occur or condition shall exist as a result of which it is necessary, in the opinion of counsel for the Underwriters or for the Company, to (i) amend the Registration Statement in order that the Registration Statement will not include an 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; (ii) amend or supplement the Pricing Disclosure Package or the Prospectus in order that the Pricing Disclosure Package or the Prospectus, as the case may be, will not include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein not misleading in the light of the circumstances existing at the time it is delivered to a purchaser; or (iii) amend the Registration Statement or amend or supplement the Pricing Disclosure Package or the Prospectus, as the case may be, in order to comply with the requirements of the Securities Act or the Securities Act Regulations, the Company will promptly (A) give the Representative notice of such event; (B) prepare any amendment or supplement as may be necessary to correct such statement or omission or to make the Registration Statement, the Pricing Disclosure Package or the Prospectus comply with such requirements and, a reasonable amount of time prior to any proposed filing or use, furnish the Representative with copies of any such amendment or supplement; and (C) file with the Commission any such amendment or supplement; provided that the Company shall not file or use any such amendment or supplement to which the Representative or Representative Counsel shall reasonably object. The Company will furnish to the Underwriters such number of copies of such amendment or supplement as the Underwriters may reasonably request. The Company has given the Representative notice of any filings made pursuant to the Exchange Act or the Exchange Act Regulations within 48 hours prior to the Applicable Time. The Company shall give the Representative notice of its intention to make any such filing from the Applicable Time until the later of the Closing Date and the exercise in full or expiration of the Over-allotment Option specified in Section 1.2 hereof and will furnish the Representative with copies of the related document(s) a reasonable amount of time prior to such proposed filing, as the case may be, and will not file or use any such document to which the Representative or counsel for the Underwriters shall reasonably object.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.3. <u>Exchange Act Registration</u>. For a period of three (3) years after the date of this Agreement, the Company shall use its commercially reasonable efforts to maintain the registration of the shares of Common Stock under the Exchange Act. The Company shall not deregister the shares of Common Stock under the Exchange Act without the prior written consent of the Representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.4. <u>Free Writing Prospectuses</u>. The Company agrees that, unless it obtains the prior written consent of the Representative, it shall not make any offer relating to the Public Securities that would constitute an Issuer Free Writing Prospectus or that would otherwise constitute a "free writing prospectus," or a portion thereof, required to be filed by the Company with the Commission or retained by the Company under Rule 433.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.5. <u>Testing-the-Waters Communications</u>. If at any time following the distribution of any Written Testing-the-Waters Communication there occurred or occurs an event or development as a result of which such Written Testing-the-Waters Communication included or would include an untrue statement of a material fact or omitted or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing at that subsequent time, not misleading, the Company shall promptly notify the Representative and shall promptly amend or supplement, at its own expense, such Written Testing-the-Waters Communication to eliminate or correct such untrue statement or omission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. *<u>Delivery to the Underwriters of Registration Statements</u>*. The Company has delivered or made available or shall deliver or make available to the Representative and Representative Counsel, without charge, signed copies of the Registration Statement as originally filed and each amendment thereto (including exhibits filed therewith) and signed copies of all consents and certificates of experts, and will also deliver to the Underwriters, upon request and without charge, a conformed copy of the Registration Statement as originally filed and each amendment thereto (without exhibits) for each of the Underwriters. The copies of the Registration Statement and each amendment thereto furnished to the Underwriters will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4. *<u>Delivery to the Underwriters of Prospectuses</u>*. The Company has delivered or made available or will deliver or make available to each Underwriter, without charge, as many copies of each Preliminary Prospectus as such Underwriter reasonably requested, and the Company hereby consents to the use of such copies for purposes permitted by the Securities Act. The Company will furnish to each Underwriter, without charge, during the period when a prospectus relating to the Public Securities is (or, but for the exception afforded by Rule 172, would be) required to be delivered under the Securities Act, such number of copies of the Prospectus (as amended or supplemented) as such Underwriter may reasonably request. The Prospectus and any amendments or supplements thereto furnished to the Underwriters will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5. *<u>Events Requiring Notice to the Representative</u>*. The Company shall notify the Representative promptly and confirm the notice in writing: (i) of the issuance by any state securities commission of any proceedings for the suspension of the qualification of the Public Securities for offering or sale in any jurisdiction or of the initiation, or the threatening, of any proceeding for that purpose; (ii) of the mailing and delivery to the Commission for filing of any amendment or supplement to the Registration Statement or Prospectus; (iii) of the receipt of any comments or request for any additional information from the Commission; and (iv) of the happening of any event during the period described in this Section 3.5 that, in the judgment of the Company, makes any statement of a material fact made in the Registration Statement, the Pricing Disclosure Package or the Prospectus untrue or that requires the making of any changes in (A) the Registration Statement in order to make the statements therein not misleading, or (B) in the Pricing Disclosure Package or the Prospectus in order to make the statements therein, in light of the circumstances under which they were made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6. *<u>Review of Financial Statements</u>*. For a period of three (3) years after the date of this Agreement, the Company, at its expense, shall cause its regularly engaged independent registered public accounting firm to review (but not audit) the Company's financial statements for each of the three fiscal quarters immediately preceding the announcement of any quarterly financial information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7. *<u>Listing</u>*. The Company shall use its commercially reasonable efforts to maintain the listing of the shares of Common Stock (including the Public Securities) on the Exchange for at least three (3) years from the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8. <u>Reports to the Representative.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8.1. <u>Periodic Reports, etc</u>. For a period of not less than one (1) year after the date of this Agreement, the Company shall furnish or make available to the Representative copies of such financial statements and other periodic and special reports as the Company from time to time furnishes generally to holders of any class of its securities and also promptly furnish to the Representative: (i) a copy of each periodic report the Company shall be required to file with the Commission under the Exchange Act and the Exchange Act Regulations; (ii) a copy of every press release and every news item and article with respect to the Company or its affairs which was released by the Company; (iii) a copy of each Current Report on Form 8-K prepared and filed by the Company; (iv) five copies of each registration statement filed by the Company under the Securities Act; and (v) such additional documents and information with respect to the Company and the affairs of any future subsidiaries of the Company as the Representative may from time to time reasonably request; provided the Representative shall sign, if requested by the Company, a Regulation FD compliant confidentiality agreement which is reasonably acceptable to the Representative and Representative Counsel in connection with the Representative's receipt of such information. Documents filed with the Commission pursuant to its EDGAR system shall be deemed to have been delivered to the Representative pursuant to this Section 3.8.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8.2. <u>Transfer Agent; Transfer Sheets</u>. For a period of one (1) year after the date of this Agreement, the Company shall retain a transfer agent and registrar acceptable to the Representative (the "*Transfer Agent*") and shall furnish to the Representative at the Company's sole cost and expense such transfer sheets of the Company's securities as the Representative may reasonably request, including the daily and monthly consolidated transfer sheets of the Transfer Agent and DTC. Vstock Transfer, LLC is acceptable to the Representative to act as Transfer Agent for the shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9. <u>Payment of Expenses</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9.1. <u>General Expenses Related to the Offering</u>. The Company hereby agrees to pay on each of the Closing Date and the Option Closing Date, if any, to the extent not paid at the Closing Date, all expenses incident to the performance of the obligations of the Company under this Agreement, including, but not limited to: (a) all filing fees and communication expenses relating to the registration of the shares of Common Stock to be sold in the Offering (including the Over-allotment Shares) with the Commission; (b) all Public Filing System filing fees associated with the review of the Offering by FINRA; (c) all fees and expenses relating to the listing of such Public Securities on the Exchange and such other stock exchanges as the Company and the Representative together determine; (d) all fees, expenses and disbursements relating to background checks of the Company's officers and directors; (e) all fees, expenses and disbursements, if any, relating to the registration or qualification of the Public Securities under the "blue sky" securities laws of such states and other jurisdictions as the Representative may reasonably designate, as applicable; (f) all fees, expenses and disbursements relating to the registration, qualification or exemption of the Public Securities under the securities laws of such foreign jurisdictions as the Representative may reasonably designate; (g) the costs of all mailing and printing of the underwriting documents (including, without limitation, the Underwriting Agreement, any Blue Sky Surveys and, if appropriate, any Agreement Among Underwriters, Selected Dealers' Agreement, Underwriters' Questionnaire and Power of Attorney), Registration Statements, Prospectuses and all amendments, supplements and exhibits thereto and as many preliminary and final Prospectuses as the Representative may reasonably deem necessary; (h) the costs of preparing, printing and delivering certificates representing the Public Securities; (i) fees and expenses of the transfer agent for the shares of Common Stock; (j) stock transfer and/or stamp taxes, if any, payable upon the transfer of securities from the Company to the Underwriters; (k) the cost associated with the Underwriter's use of book-building and compliance software for the Offering; (l) the costs associated with one set of bound volumes of the public offering materials as well as commemorative lucite mementos, each of which the Company or its designee shall provide within a reasonable time after the Closing Date in such quantities as the Representative may reasonably request; (m) the fees and expenses of the Company's accountants; (n) the fees and expenses of the Company's legal counsel and other agents and representatives; (o) the fees and expenses of the Representative Counsel not to exceed $125,000; and (p) the Underwriter's actual accountable "road show" expenses for the Offering; provided, that the maximum amount that the Company shall pay for items (d), (k), (l), (o) and (p) and shall be $175,000. The Representative may deduct from the net proceeds of the Offering payable to the Company on the Closing Date, or the Option Closing Date, if any, the expenses set forth herein to be paid by the Company to the Underwriters, other than amounts already advanced to the Representative as of the date of this Underwriting Agreement. The Company previously paid the Representative an advance in the amount of $15,000 to be applied towards accountable expenses due and payable to the Representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9.2. <u>Non-accountable Expense</u>s. The Company further agrees that, in addition to the expenses payable pursuant to Section 3.9.1, on the Closing Date it shall pay to the Representative, by deduction from the net proceeds of the Offering contemplated herein, a non-accountable expense allowance equal to one percent (1%) of the gross proceeds received by the Company from the sale of the Firm Shares (excluding the Option Shares), less the Advance (as such term is defined in Section 8.3 hereof), provided, however, that in the event that the Offering is terminated, the Company agrees to reimburse the Underwriters pursuant to Section 8.3 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10. *<u>Application of Net Proceeds</u>*. The Company shall apply the net proceeds from the Offering received by it in a manner consistent with the application thereof described under the caption "Use of Proceeds" in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11. *<u>Delivery of Earnings Statements to Security Holders</u>*. The Company shall make generally available to its security holders as soon as practicable, but not later than the first day of the fifteenth (15th) full calendar month following the date of this Agreement, an earnings statement (which need not be certified by independent registered public accounting firm unless required by the Securities Act or the Securities Act Regulations, but which shall satisfy the provisions of Rule 158(a) under Section 11(a) of the Securities Act) covering a period of at least twelve (12) consecutive months beginning after the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12. *<u>Right of First Refusal</u>*. For a period ending twelve (12) months from the Effective Date, the Company hereby grants to the Representative a right of first refusal to act as sole investment banker, sole book-runner and/or sole underwriter, at the Representative's sole discretion, for each and every future public and/or private financing for the Company, or any successor to or any subsidiary of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13. *<u>Internal Controls</u>*. The Company shall use its best efforts to maintain a system of internal accounting controls for itself sufficient to provide reasonable assurances that: (i) transactions are executed in accordance with management's general or specific authorization; (ii) transactions are recorded as necessary in order to permit preparation of financial statements in accordance with GAAP and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management's general or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14. *<u>Accountants</u>*. As of the date of this Agreement, the Company has retained an independent registered public accounting firm reasonably acceptable to the Representative, and the Company shall continue to retain an independent registered public accounting firm for a period of at least three (3) years after the date of this Agreement. The Representative acknowledges that the Auditor is acceptable to the Representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15. *<u>FINRA</u>*. The Company shall advise the Representative (who shall make an appropriate filing with FINRA) if it is or becomes aware that (i) any officer or director of the Company, (ii) any beneficial owner of 5% or more of any class of the Company's securities or (iii) any beneficial owner of the Company's unregistered equity securities which were acquired during the 180 days immediately preceding the filing of the Registration Statement, is or becomes an affiliate or associated person of a FINRA member participating in the Offering (as determined in accordance with the rules and regulations of FINRA).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16. *<u>No Fiduciary Duties</u>*. The Company acknowledges and agrees that the Underwriters' responsibility to the Company is solely contractual in nature and that none of the Underwriters or their affiliates or any selling agent shall be deemed to be acting in a fiduciary capacity, or otherwise owes any fiduciary duty to the Company or any of its affiliates in connection with the Offering and the other transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.17. <u>Company Lock-Up Agreements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.17.1. <u>Restriction on Sale of Capital Stock</u>. The Company, on behalf of itself and any successor entity, agrees that, without the prior written consent of the Representative, it will not, for a period of one hundred and eighty (180) days after the date of this Agreement (the "*Lock-Up Period*"), (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company; or (ii) complete any offering of debt securities of the Company (other than debt securities convertible into shares of Common Stock of the Company); or (iii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of capital stock of the Company, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of shares of capital stock of the Company or such other securities, in cash or otherwise.

The restrictions contained in this Section 3.17.1 shall not apply to (i) the shares of Common Stock to be sold hereunder, (ii) the issuance by the Company of shares of Common Stock upon the exercise of a stock option or warrant or the conversion of a security outstanding on the date hereof, of which the Representative has been advised in writing, (iii) the issuance by the Company of stock options or shares of capital stock of the Company under any equity compensation plan of the Company or (iv) the filing of a registration statement on Form S-8 with the Commission.

Notwithstanding the foregoing, if (i) during the last 17 days of the Lock-Up Period, the Company issues an earnings release or material news or a material event relating to the Company occurs, or (ii) prior to the expiration of the Lock-Up Period, the Company announces that it will release earnings results or becomes aware that material news or a material event will occur during the 16-day period beginning on the last day of the Lock-Up Period, the restrictions imposed by this Section 3.17.1 shall continue to apply until the expiration of the 18-day period beginning on the issuance of the earnings release or the occurrence of such material news or material event, as applicable, unless the Representative waives, in writing, such extension; provided, however, that this extension of the Lock-Up Period shall not apply to the extent that FINRA has amended or repealed NASD Rule 2711(f)(4), or has otherwise provided written interpretive guidance regarding such rule, in each case, so as to eliminate the prohibition of any broker, dealer, or member of a national securities association from publishing or distributing any research report, with respect to the securities of an Emerging Growth Company prior to or after the expiration of any agreement between the broker, dealer, or member of a national securities association and the Emerging Growth Company or its stockholders that restricts or prohibits the sale of securities held by the Emerging Growth Company or its stockholders after the initial public offering date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.17.2. <u>Restriction on Continuous Offerings</u>. Notwithstanding the restrictions contained in Section 3.17.1, the Company, on behalf of itself and any successor entity, agrees that, without the prior written consent of the Representative, it will not, for a period of 12 months after the date of this Agreement, directly or indirectly in any "at-the-market" or continuous equity transaction, offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.17.3. <u>Insider Lock-Up Agreements</u>. The Company's directors and officers will enter into customary "lock-up" agreements in favor of the Representative pursuant to which such persons and entities will agree, for a period of at least 180 days from the Closing ("*D&O Lockup Period*"), that they will neither offer, issue, sell, contract to sell, encumber, grant any option for the sale of or otherwise dispose of any securities of the Company without Representative's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.18. *<u>Release of D&O Lock-up Period</u>*. If the Representative, in its sole discretion, agrees to release or waive the restrictions set forth in the Lock-Up Agreements described in Section 2.24 hereof for an officer or director of the Company and provides the Company with notice of the impending release or waiver at least three (3) Business Days before the effective date of the release or waiver, the Company agrees to announce the impending release or waiver by a press release substantially in the form of Exhibit C hereto through a major news service at least two (2) Business Days before the effective date of the release or waiver.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.19. *<u>Blue Sky Qualifications</u>*. The Company shall use its commercially reasonable efforts, in cooperation with the Underwriters, if necessary, to qualify the Public Securities for offering and sale under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as the Representative may designate and to maintain such qualifications in effect so long as required to complete the distribution of the Public Securities; provided, however, that the Company shall not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to 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;3.20. *<u>Reporting Requirements</u>*. The Company, during the period when a prospectus relating to the Public Securities is (or, but for the exception afforded by Rule 172, would be) required to be delivered under the Securities Act, will use its commercially reasonable efforts to file all documents required to be filed with the Commission pursuant to the Exchange Act within the time periods required by the Exchange Act and Exchange Act Regulations. Additionally, the Company shall report the use of proceeds from the issuance of the Public Securities as may be required under Rule 463 under the Securities Act Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.21. *<u>Emerging Growth Company Status</u>*. The Company shall promptly notify the Representative if the Company ceases to be an Emerging Growth Company at any time prior to the later of (i) completion of the distribution of the Public Securities within the meaning of the Securities Act and (ii) fifteen (15) days following the completion of the Lock-Up Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.22. *<u>Investor Relations</u>*. The Company shall use commercially reasonable efforts to maintain and execute an active investor relations program for a period of twelve (12) months following the Closing Date.

4. <u>Conditions of Underwriters' Obligations</u>. The obligations of the Underwriters to purchase and pay for the Public Securities, as provided herein, shall be subject to (i) the continuing accuracy of the representations and warranties of the Company as of the date hereof and as of each of the Closing Date and the Option Closing Date, if any; (ii) the accuracy of the statements of officers of the Company made pursuant to the provisions hereof; (iii) the performance by the Company of its obligations hereunder; and (iv) the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. <u>Regulatory Matters.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.1. <u>Effectiveness of Registration Statement; Rule 430A Information</u>. The Registration Statement has become effective not later than 5:00 p.m., Eastern time, on the date of this Agreement or such later date and time as shall be consented to in writing by the Representative, and, at each of the Closing Date and any Option Closing Date, no stop order suspending the effectiveness of the Registration Statement or any post-effective amendment thereto has been issued under the Securities Act, no order preventing or suspending the use of any Preliminary Prospectus or the Prospectus has been issued and no proceedings for any of those purposes have been instituted or are pending or, to the Company's knowledge, contemplated by the Commission. The Company has complied with each request (if any) from the Commission for additional information. The Prospectus containing the Rule 430A Information shall have been filed with the Commission in the manner and within the time frame required by Rule 424(b) (without reliance on Rule 424(b)(8)) or a post-effective amendment providing such information shall have been filed with, and declared effective by, the Commission in accordance with the requirements of Rule 430A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.2. <u>FINRA Clearance</u>. On or before the date of this Agreement, the Representative shall have received clearance from FINRA as to the amount of compensation allowable or payable to the Underwriters as described in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.3. <u>Exchange Stock Market Clearance</u>. On the Closing Date, the Company's shares of Common Stock, including the Firm Shares, shall have been approved for listing on the Exchange, subject only to official notice of issuance. On the first Option Closing Date (if any), the Company's shares of Common Stock, including the Option Shares, shall have been approved for listing on the Exchange, subject only to official notice of issuance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. <u>Company Counsel Matters.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.1. <u>Closing Date Opinions of Counsel</u>. On the Closing Date, the Representative shall have received the favorable opinions of Carmel, Milazzo & Feil LLP, counsel to the Company, dated the Closing Date and addressed to the Representative, substantially in the form attached hereto as <u>Exhibit D</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.2. <u>Option Closing Date Opinions of Counsel</u>. On the Option Closing Date, if any, the Representative shall have received the favorable opinion of counsel listed in Section 4.2.1, dated the Option Closing Date, addressed to the Representative and in form and substance reasonably satisfactory to the Representative, confirming as of the Option Closing Date, the statements made by such counsel in their opinion delivered on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3. <u>Reliance</u>. In rendering such opinions, such counsel may rely: (i) as to matters involving the application of laws other than the laws of the United States and jurisdictions in which they are admitted, to the extent such counsel deems proper and to the extent specified in such opinion, if at all, upon an opinion or opinions (in form and substance reasonably satisfactory to the Representative) of other counsel reasonably acceptable to the Representative, familiar with the applicable laws; and (ii) as to matters of fact, to the extent they deem proper, on certificates or other written statements of officers of the Company and officers of departments of various jurisdictions having custody of documents respecting the corporate existence or good standing of the Company, provided that copies of any such statements or certificates shall be delivered to Representative Counsel if requested.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4. <u>Comfort Letters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.1. <u>Cold Comfort Letter</u>. Prior to the Closing Date the Representative shall have received a cold comfort letter containing statements and information of the type customarily included in accountants' comfort letters with respect to the financial statements and certain financial information contained in the Registration Statement, the Pricing Disclosure Package and the Prospectus, addressed to the Representative and in form and substance satisfactory in all respects to the Representative and to the Auditor, dated as of the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.2. <u>Bring-down Comfort Letter</u>. At each of the Closing Date and the Option Closing Date, if any, the Representative shall have received from the Auditor a letter, dated as of the Closing Date or the Option Closing Date, as applicable, to the effect that the Auditor reaffirms the statements made in the letter furnished pursuant to Section 4.3.1, except that the specified date referred to shall be a date not more than three (3) business days prior to the Closing Date or the Option Closing Date, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5. <u>Certificates.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5.1. <u>Officers' Certificate</u>. The Company shall have furnished to the Representative a certificate, dated the Closing Date and any Option Closing Date (if such date is other than the Closing Date), of its Chief Executive Officer and its Chief Financial Officer stating that (i) such officers have carefully examined the Registration Statement, the Pricing Disclosure Package, any Issuer Free Writing Prospectus and the Prospectus and, in their opinion, the Registration Statement and each amendment thereto, as of the Applicable Time and as of the Closing Date (or any Option Closing Date if such date is other than the Closing Date) did not include any untrue statement of a material fact and did not omit a material fact required to be stated therein or necessary to make the statements therein not misleading, and the Pricing Disclosure Package, as of the Applicable Time and as of the Closing Date (or any Option Closing Date if such date is other than the Closing Date), any Issuer Free Writing Prospectus as of its date and as of the Closing Date (or any Option Closing Date if such date is other than the Closing Date), the Prospectus and each amendment or supplement thereto, as of the respective date thereof and as of the Closing Date, did not include any untrue statement of a material fact and did not omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances in which they were made, not misleading, (ii) since the effective date of the Registration Statement, no event has occurred which should have been set forth in a supplement or amendment to the Registration Statement, the Pricing Disclosure Package or the Prospectus, (iii) to their knowledge, after reasonable inquiry, as of the Closing Date (or any Option Closing Date if such date is other than the Closing Date), the representations and warranties of the Company in this Agreement are true and correct and the Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied hereunder at or prior to the Closing Date (or any Option Closing Date if such date is other than the Closing Date), and (iv) there has not been, subsequent to the date of the most recent audited financial statements included or incorporated by reference in the Pricing Disclosure Package, any material adverse change in the financial position or results of operations of the Company, or any change or development that, singularly or in the aggregate, would involve a material adverse change or a prospective material adverse change, in or affecting the condition (financial or otherwise), results of operations, business, assets or prospects of the Company, except as set forth in the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5.2. <u>Secretary's Certificate</u>. At each of the Closing Date and the Option Closing Date, if any, the Representative shall have received a certificate of the Company signed by the Secretary of the Company, dated the Closing Date or the Option Closing Date, as the case may be, respectively, certifying: (i) that each of the Charter and Bylaws is true and complete, has not been modified and is in full force and effect; (ii) that the resolutions of the Company's Board of Directors relating to the Offering are in full force and effect and have not been modified; and (iii) as to the incumbency of the officers of the Company. The documents referred to in such certificate shall be attached to such certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5.3. <u>Chief Financial Officer's Certificate</u>. At each of the Closing Date and the Option Closing Date, if any, the Representative shall have received a certificate of the Chief Financial Officer of the Company, dated the Closing Date or the Option Closing Date, as the case may be, respectively, with respect to the accuracy of certain information contained in the Registration Statement, the Pricing Disclosure Package and the Prospectus, in a form reasonably acceptable to the Representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6. *<u>No Material Changes</u>*. Prior to and on each of the Closing Date and each Option Closing Date, if any: (i) there shall have been no material adverse change or development involving a prospective material adverse change in the condition or prospects or the business activities, financial or otherwise, of the Company from the latest dates as of which such condition is set forth in the Registration Statement, the Pricing Disclosure Package and the Prospectus; (ii) no action, suit or proceeding, at law or in equity, shall have been pending, or the Company's knowledge, threatened against the Company or any Insider before or by any court or federal or state commission, board or other administrative agency wherein an unfavorable decision, ruling or finding may materially adversely affect the business, operations, prospects or financial condition or income of the Company, except as set forth in the Registration Statement, the Pricing Disclosure Package and the Prospectus; (iii) no stop order shall have been issued under the Securities Act and no proceedings therefor shall have been initiated or threatened by the Commission; and (iv) the Registration Statement, the Pricing Disclosure Package and the Prospectus and any amendments or supplements thereto shall contain all material statements which are required to be stated therein in accordance with the Securities Act and the Securities Act Regulations and shall conform in all material respects to the requirements of the Securities Act and the Securities Act Regulations, and neither the Registration Statement, the Pricing Disclosure Package nor the Prospectus nor any amendment or supplement thereto shall contain any 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 light of the circumstances under which they were made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7. <u>Delivery of Agreements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7.1. <u>Lock-Up Agreements</u>. On or before the date of this Agreement, the Company shall have delivered to the Representative executed copies of the Lock-Up Agreements from each of the persons listed in <u>Schedule 3</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7.2. <u>Representative</u>'<u>s Warrants</u>. On the Closing Date, the Company shall have delivered to the Representative executed copies of the Representative's Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8. *<u>Additional Documents</u>*. At the Closing Date and at each Option Closing Date (if any) Representative Counsel shall have been furnished with such documents and opinions as they may reasonably require in order to evidence the accuracy of any of the representations or warranties, or the fulfillment of any of the conditions, herein contained; and all proceedings taken by the Company in connection with the issuance and sale of the Public Securities and the Representative's Securities as herein contemplated shall be satisfactory in form and substance to the Representative and Representative Counsel.

5. <u>Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. <u>Indemnification of the Underwriters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.1. <u>General</u>. Subject to the conditions set forth below, the Company agrees to indemnify and hold harmless each Underwriter, its affiliates and each of its and their respective directors, officers, members, employees, representatives and agents and each person, if any, who controls any such Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively the "*Underwriter Indemnified Parties*," and each an "*Underwriter Indemnified Party*"), against any and all loss, liability, claim, damage and expense whatsoever (including but not limited to any and all legal or other expenses documented and reasonably incurred in investigating, preparing or defending against any litigation, commenced or threatened, or any claim whatsoever, whether arising out of any action between any of the Underwriter Indemnified Parties and the Company or between any of the Underwriter Indemnified Parties and any third party, or otherwise) to which they or any of them may become subject under the Securities Act, the Exchange Act or any other statute or at common law or otherwise or under the laws of foreign countries, arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in (i) the Registration Statement, the Pricing Disclosure Package, the Preliminary Prospectus, the Prospectus, or in any Issuer Free Writing Prospectus or in any Written Testing-the-Waters Communication (as from time to time each may be amended and supplemented); (ii) any materials or information provided to investors by, or with the approval of, the Company in connection with the marketing of the Offering, including any "road show" or investor presentations made to investors by the Company (whether in person or electronically); or (iii) any application or other document or written communication (in this Section 5, collectively called "application") executed by the Company or based upon written information furnished by the Company in any jurisdiction in order to qualify the Public Securities and Representative's Securities under the securities laws thereof or filed with the Commission, any state securities commission or agency, the Exchange or any other national securities exchange; or the omission or alleged omission therefrom of a 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, unless such statement or omission was made in reliance upon, and in conformity with, the Underwriters' Information. With respect to any untrue statement or omission or alleged untrue statement or omission made in the Pricing Disclosure Package, the indemnity agreement contained in this Section 5.1.1 shall not inure to the benefit of any Underwriter Indemnified Party to the extent that any loss, liability, claim, damage or expense of such Underwriter Indemnified Party results from the fact that a copy of the Prospectus was not given or sent to the person asserting any such loss, liability, claim or damage at or prior to the written confirmation of sale of the Public Securities to such person as required by the Securities Act and the Securities Act Regulations, and if the untrue statement or omission has been corrected in the Prospectus, unless such failure to deliver the Prospectus was a result of non-compliance by the Company with its obligations under Section 3.3 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.2. <u>Procedure</u>. If any action is brought against an Underwriter Indemnified Party in respect of which indemnity may be sought against the Company pursuant to Section 5.1.1, such Underwriter Indemnified Party shall promptly notify the Company in writing of the institution of such action and the Company shall assume the defense of such action, including the employment and fees of counsel (subject to the reasonable approval of such Underwriter Indemnified Party) and payment of actual expenses. Such Underwriter Indemnified Party shall have the right to employ its or their own counsel in any such case, but the fees and expenses of such counsel shall be at the expense of such Underwriter Indemnified Party unless (i) the employment of such counsel at the expense of the Company shall have been authorized in writing by the Company in connection with the defense of such action, or (ii) the Company shall not have employed counsel to have charge of the defense of such action, or (iii) such indemnified party or parties shall have reasonably concluded that there may be defenses available to it or them which are different from or additional to those available to the Company (in which case the Company shall not have the right to direct the defense of such action on behalf of the indemnified party or parties), in any of which events the reasonable fees and expenses of not more than one additional firm of attorneys selected by the Underwriter Indemnified Party (in addition to local counsel) shall be borne by the Company. Notwithstanding anything to the contrary contained herein, if any Underwriter Indemnified Party shall assume the defense of such action as provided above, the Company shall have the right to approve the terms of any settlement of such action, which approval shall not be unreasonably withheld.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. *<u>Indemnification of the Company</u>*. Each Underwriter, severally and not jointly, agrees to indemnify and hold harmless the Company, its directors, its officers who signed the Registration Statement and persons who control the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, against any and all loss, liability, claim, damage and expense described in the foregoing indemnity from the Company to the several Underwriters, as incurred, but only with respect to untrue statements or omissions made in the Registration Statement, any Preliminary Prospectus, the Pricing Disclosure Package or Prospectus or any amendment or supplement thereto or in any application, in reliance upon, and in strict conformity with, the Underwriters' Information. In case any action shall be brought against the Company or any other person so indemnified based on any Preliminary Prospectus, the Registration Statement, the Pricing Disclosure Package or Prospectus or any amendment or supplement thereto or any application, and in respect of which indemnity may be sought against any Underwriter, such Underwriter shall have the rights and duties given to the Company, and the Company and each other person so indemnified shall have the rights and duties given to the several Underwriters by the provisions of Section 5.1.2. The Company agrees to promptly notify the Representative of the commencement of any litigation or proceedings against the Company or any of its officers, directors or any person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, in connection with the issuance and sale of the Public Securities or in connection with the Registration Statement, the Pricing Disclosure Package, the Prospectus, or any Issuer Free Writing Prospectus or any Written Testing-the-Waters Communication.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. <u>Contribution</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3.1. <u>Contribution Rights</u>. If the indemnification provided for in this Section 5 shall for any reason be unavailable to or insufficient to hold harmless an indemnified party under Section 5.1 or 5.2 in respect of any loss, claim, damage or liability, or any action in respect thereof, referred to therein, then each indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to the amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability, or action in respect thereof, (i) in such proportion as shall be appropriate to reflect the relative benefits received by the Company, on the one hand, and the Underwriters, on the other, from the Offering of the Public Securities, or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company, on the one hand, and the Underwriters, on the other, with respect to the statements or omissions that resulted in such loss, claim, damage or liability, or action in respect thereof, as well as any other relevant equitable considerations. The relative benefits received by the Company, on the one hand, and the Underwriters, on the other, with respect to such Offering shall be deemed to be in the same proportion as the total net proceeds from the Offering of the Public Securities purchased under this Agreement (before deducting expenses) received by the Company, as set forth in the table on the cover page of the Prospectus, on the one hand, and the total underwriting discounts and commissions received by the Underwriters with respect to the shares of the Common Stock purchased under this Agreement, as set forth in the table on the cover page of the Prospectus, on the other hand. The relative fault shall be determined by reference to 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 Underwriters, 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 Underwriters agree that it would not be just and equitable if contributions pursuant to this Section 5.3.1 were to be determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) 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, damage or liability, or action in respect thereof, referred to above in this Section 5.3.1 shall be deemed to include, for purposes of this Section 5.3.1, all documented and reasonably incurred legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 5.3.1 in no event shall an Underwriter be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Underwriter with respect to the Offering of the Public Securities exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3.2. <u>Contribution Procedure</u>. Within fifteen (15) days after receipt by any party to this Agreement (or its representative) of notice of the commencement of any action, suit or proceeding, such party will, if a claim for contribution in respect thereof is to be made against another party ("contributing party"), notify the contributing party of the commencement thereof, but the failure to so notify the contributing party will not relieve it from any liability which it may have to any other party other than for contribution hereunder. In case any such action, suit or proceeding is brought against any party, and such party notifies a contributing party or its representative of the commencement thereof within the aforesaid 15 days, the contributing party will be entitled to participate therein with the notifying party and any other contributing party similarly notified. Any such contributing party shall not be liable to any party seeking contribution on account of any settlement of any claim, action or proceeding affected by such party seeking contribution on account of any settlement of any claim, action or proceeding affected by such party seeking contribution without the written consent of such contributing party. The contribution provisions contained in this Section 5.3.2 are intended to supersede, to the extent permitted by law, any right to contribution under the Securities Act, the Exchange Act or otherwise available. Each Underwriter's obligations to contribute pursuant to this Section 5.3 are several and not joint.

6. <u>Defaults.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. <u>Default by an Underwriter.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.1. <u>Default Not Exceeding 10% of Firm Shares or Option Shares</u>. If any Underwriter or Underwriters shall default in its or their obligations to purchase the Firm Shares or the Option Shares, if the Over-allotment Option is exercised hereunder, and if the number of the Firm Shares or Option Shares with respect to which such default relates does not exceed in the aggregate 10% of the number of Firm Shares or Option Shares that all Underwriters have agreed to purchase hereunder, then such Firm Shares or Option Shares to which the default relates shall be purchased by the non-defaulting Underwriters in proportion to their respective commitments hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.2. <u>Default Exceeding 10% of Firm Shares or Option Shares</u>. In the event that the default addressed in Section 6.1 relates to more than 10% of the Firm Shares or Option Shares, the Representative may in its discretion arrange for themselves or for another party or parties to purchase such Firm Shares or Option Shares to which such default relates on the terms contained herein. If, within one (1) Business Day after such default relating to more than 10% of the Firm Shares or Option Shares, the Representative does not arrange for the purchase of such Firm Shares or Option Shares, then the Company shall be entitled to a further period of one (1) Business Day within which to procure another party or parties reasonably satisfactory to the Representative to purchase said Firm Shares or Option Shares on such terms. In the event that neither the Representative nor the Company arrange for the purchase of the Firm Shares or Option Shares to which a default relates as provided in this Section 6, this Agreement will automatically be terminated by the Representative or the Company without liability on the part of the Company (except as provided in Sections 3.8 and 5 hereof) or the several Underwriters (except as provided in Section 5 hereof); provided, however, that if such default occurs with respect to the Option Shares, this Agreement will not terminate as to the Firm Shares; and provided, further, that nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the other Underwriters and to the Company for damages occasioned by its default hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.3. <u>Postponement of Closing Date</u>. In the event that the Firm Shares or Option Shares to which the default relates are to be purchased by the non-defaulting Underwriters, or are to be purchased by another party or parties as aforesaid, the Representative or the Company shall have the right to postpone the Closing Date or Option Closing Date for a reasonable period, but not in any event exceeding five (5) Business Days, in order to effect whatever changes may thereby be made necessary in the Registration Statement, the Pricing Disclosure Package or the Prospectus or in any other documents and arrangements, and the Company agrees to file promptly any amendment to the Registration Statement, the Pricing Disclosure Package or the Prospectus that in the opinion of counsel for the Underwriter may thereby be made necessary. The term "*Underwriter*" as used in this Agreement shall include any party substituted under this Section 6 with like effect as if it had originally been a party to this Agreement with respect to such shares of Common Stock.

7. <u>Additional Covenants.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1. *<u>Board Composition and Board Designations</u>*. The Company shall ensure that: (i) the qualifications of the persons serving as members of the Board of Directors and the overall composition of the Board comply with the Sarbanes-Oxley Act, with the Exchange Act and with the listing rules of the Exchange or any other national securities exchange, as the case may be, in the event the Company seeks to have its Public Securities listed on another exchange or quoted on an automated quotation system, and (ii) if applicable, at least one member of the Audit Committee of the Board of Directors qualifies as an "audit committee financial expert," as such term is defined under Regulation S-K and the listing rules of the Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2. *<u>Prohibition on Press Releases and Public Announcements</u>*. The Company shall not issue press releases or engage in any other publicity without the Representative's prior written consent (which consent shall not be unreasonably withheld), for a period ending at 5:00 p.m., Eastern time, on the first (1st) Business Day following the forty-fifth (45th) day after the Closing Date, other than normal and customary releases issued in the ordinary course of the Company's business.

8. <u>Effective Date of this Agreement and Termination Thereof.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1. *<u>Effective Date</u>*. This Agreement shall become effective when both the Company and the Representative have executed the same and delivered counterparts of such signatures to the other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2. *<u>Termination</u>*. The Representative shall have the right to terminate this Agreement at any time prior to any Closing Date, (i) if any domestic or international event or act or occurrence has materially disrupted, or in the Representative's reasonable opinion will in the immediate future materially disrupt, general securities markets in the United States; or (ii) if trading on the New York Stock Exchange or the Nasdaq Stock Market LLC shall have been suspended or materially limited, or minimum or maximum prices for trading shall have been fixed, or maximum ranges for prices for securities shall have been required by FINRA or by order of the Commission or any other government authority having jurisdiction; or (iii) if the United States shall have become involved in a new war or an increase in major hostilities; or (iv) if a banking moratorium has been declared by a New York State or federal authority; or (v) if a moratorium on foreign exchange trading has been declared which materially adversely impacts the United States securities markets; or (vi) if the Company shall have sustained a material loss by fire, flood, accident, hurricane, earthquake, theft, sabotage or other calamity or malicious act which, whether or not such loss shall have been insured, will, in the Representative's reasonable opinion, make it inadvisable to proceed with the delivery of the Firm Shares or Option Shares; or (vii) if the Company is in material breach of any of its representations, warranties or covenants hereunder; or (viii) if the Representative shall have become aware after the date hereof of such a material adverse change in the conditions or prospects of the Company, or such adverse material change in general market conditions as in the Representative's reasonable judgment would make it impracticable to proceed with the offering, sale and/or delivery of the Public Securities or to enforce contracts made by the Underwriters for the sale of the Public Securities; or (ix) if any other event listed in the Engagement Agreement occurs which grants the Representative the right not to proceed with the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3. *<u>Expenses</u>*. Notwithstanding anything to the contrary in this Agreement, except in the case of a default by the Underwriters, pursuant to Section 6.1.2 above, in the event that this Agreement shall not be carried out for any reason whatsoever, within the time specified herein or any extensions thereof pursuant to the terms herein, the Company shall be obligated to pay to the Underwriters their actual and accountable out-of-pocket expenses related to the transactions contemplated herein then due and payable (including the fees and disbursements of Representative Counsel) up to an aggregate of $175,000, inclusive of any advance for accountable expenses previously paid by the Company to the Representative (the "*Advance*") and upon demand the Company shall pay the full amount thereof to the Representative on behalf of the Underwriters; provided, however, that such expense cap in no way limits or impairs the indemnification and contribution provisions of this Agreement. Notwithstanding the foregoing, any advance received by the Representative will be reimbursed to the Company to the extent not actually incurred in compliance with FINRA Rule 5110(f)(2)(C).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4. *<u>Indemnification</u>*. Notwithstanding any contrary provision contained in this Agreement, any election hereunder or any termination of this Agreement, and whether or not this Agreement is otherwise carried out, the provisions of Section 5 shall remain in full force and effect and shall not be in any way affected by, such election or termination or failure to carry out the terms of this Agreement or any part hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5. *<u>Representations, Warranties, Agreements to Survive</u>*. All representations, warranties and agreements contained in this Agreement or in certificates of officers of the Company submitted pursuant hereto, shall remain operative and in full force and effect regardless of (i) any investigation made by or on behalf of any Underwriter or its Affiliates or selling agents, any person controlling any Underwriter, its officers or directors or any person controlling the Company or (ii) delivery of and payment for the Public Securities.

9. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1. *<u>Notices</u>*. All communications hereunder, except as herein otherwise specifically provided, shall be in writing and shall be mailed (registered or certified mail, return receipt requested), personally delivered or sent by facsimile transmission or email with confirmation and shall be deemed given when so delivered or faxed or emailed with confirmation or if mailed, two (2) days after such mailing.

If to the Representative:

Alexander Capital, L.P.<br> 17 State Street, 5th Floor<br> New York, NY 10004

Attention: Jonathan Gazdak, Managing Director

Email: jgazdak@alexandercapitallp.com

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

Sullivan & Worcester LLP<br> 1633 Broadway<br> New York, NY 10019<br> Attn: David E. Danovitch, Esq.<br> Email: ddanovitch@sullivanlaw.com

If to the Company:

Vocodia Holdings Corp<br> 6401 Congress Ave, Suite #160

Boca Raton, FL 33487<br> Attention: Brian Podolak, Chief Executive Officer<br> Email: brian@vocodia.com

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

Carmel, Milazzo & Feil LLP

55 West 39th Street, 18th Floor

New York, NY, 10018

Attention: Ross Carmel, Esq.

Email: rcarmel@cmfllp.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2. *<u>Headings</u>*. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the meaning or interpretation of any of the terms or provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3. *<u>Amendment</u>*. This Agreement may only be amended by a written instrument executed by each of the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4. *<u>Entire Agreement</u>*. This Agreement (together with the other agreements and documents being delivered pursuant to or in connection with this Agreement) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof and thereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof. Notwithstanding anything to the contrary set forth herein, it is understood and agreed by the parties hereto that all other terms and conditions of that certain engagement letter between the Company and the Representative, dated July 7, 2022 (the "*Engagement Agreement*"), shall remain in full force and effect, except for the right of first refusal set forth in Section II(e)(3) of the Engagement Agreement, which shall be terminated, and provided that, in the event of any conflict between the terms of this Agreement and the Engagement Agreement, the terms of this Agreement shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5. *<u>Binding Effect</u>*. This Agreement shall inure solely to the benefit of and shall be binding upon the Representative, the Underwriters, the Company, the controlling persons, directors and officers referred to in Section 5 hereof, and their respective successors, legal representatives, heirs and assigns, and no other person shall have or be construed to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Agreement or any provisions herein contained. The term "successors and assigns" shall not include a purchaser, in its capacity as such, of securities from any of the Underwriters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6. *<u>Governing Law; Consent to Jurisdiction; Trial by Jury</u>*. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflict of laws principles thereof. The Company hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this Agreement shall be brought and enforced in the New York Supreme Court, County of New York, or in the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 9.1 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim. The Company agrees that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its reasonable attorneys' fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor. The Company (on its behalf and, to the extent permitted by applicable law, on behalf of its stockholders and affiliates) and each of the Underwriters hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7. *<u>Execution in Counterparts</u>*. This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and delivered to each of the other parties hereto. Delivery of a signed counterpart of this Agreement by facsimile or email/pdf transmission shall constitute valid and sufficient delivery thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8. *<u>Waiver, etc</u>*. The failure of any of the parties hereto to at any time enforce any of the provisions of this Agreement shall not be deemed or construed to be a waiver of any such provision, nor to in any way effect the validity of this Agreement or any provision hereof or the right of any of the parties hereto to thereafter enforce each and every provision of this Agreement. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Agreement shall be effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach, non-compliance or non-fulfillment.

 

*[Signature Page Follows]*

 

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

---

| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| VOCODIA HOLDINGS CORP | VOCODIA HOLDINGS CORP |
| By: |  |
|  | Brian Podolak |
|  | Chief Executive Officer |

---

Confirmed as of the date first written above mentioned,<br> on behalf of itself and as Representative of the several<br> Underwriters named on <u>Schedule 1</u> hereto:

---

| | |
|:---|:---|
| ALEXANDER CAPITAL, L.P. | ALEXANDER CAPITAL, L.P. |
| By: |  |
|  | Jonathan Gazdak |
|  | Managing Director |

---

*[Vocodia Holdings Corp - Underwriting Agreement Signature Page]*

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

---

| | | |
|:---|:---|:---|
| **Underwriter** | **Total Number of**<br> **Firm Shares to be**<br> **Purchased** | **Number of**<br> **Additional Shares**<br> **to be Purchased if**<br> **the Over-**<br> **Allotment Option**<br> **is Fully Exercised** |
| Alexander Capital, L.P. | [●] | [●] |
| &nbsp;&nbsp;**TOTAL** | **[●]** | [●] |

---

**<u>SCHEDULE 2-A</u>**

**<u>Pricing Information</u>**

Number of Firm Shares: [●]

Number of Option Shares: [●]

Public Offering Price per Share: $[●]

Underwriting Discount per Share: $[●]

Underwriting Non-accountable expense allowance per Share: $[●]

Proceeds to Company per Share (before expenses): $[●]

**<u>SCHEDULE 2-B</u>**

**<u>Written Testing-the-Waters Communications</u>**

[None.]

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

**<u>List of Lock-Up Parties</u>**

---

| |
|:---|
| **Directors & Officers:** |
| Brian Podolak |
| James Sposato |
| Mark Terrill |
| Lourdes Felix |
| Randall Miles |
| Ned L. Siegel |
| [●] |
| **Stockholders:** |
| [Life Line Distribution LLC] |
| Martin Taubman |
| [●] |

---

**<u>EXHIBIT A</u>**

**<u>Form of Representative's Warrant</u>**

**<u>EXHIBIT B</u>**

**<u>Form of Lock-Up Agreement</u>**

[__], 2023

Alexander Capital, L.P., as Representative

17 State Street

New York, New York 10004

Ladies and Gentlemen:

The undersigned understands that you, as representative (the "Representative") of the several Underwriters (as defined below), propose to enter into an Underwriting Agreement (the "Underwriting Agreement") with Vocodia Holdings Corp, a Wyoming corporation (the "Company"), providing for the initial public offering (the "Initial Public Offering") by the several underwriters named in [ ] of the Underwriting Agreement of shares of common stock, par value $0.0001 per share, of the Company (the "Shares"). Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Underwriting Agreement.

To induce the Representative to continue its efforts in connection with the Initial Public Offering, the undersigned hereby agrees that, without the prior written consent of the Representative, the undersigned will not, during the period commencing on the date hereof and ending 180 days after the date of the final prospectus (the "Prospectus") relating to the Initial Public Offering (the "Lock-Up Period"), (1) offer, pledge, sell, contract to sell, grant, lend, or otherwise transfer or dispose of, directly or indirectly, any Shares or any securities convertible into or exercisable or exchangeable for Shares, whether now owned or hereafter acquired by the undersigned or with respect to which the undersigned has or hereafter acquires the power of disposition (collectively, the "Lock-Up Securities"); (2) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Lock-Up Securities, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Lock-Up Securities, in cash or otherwise; (3) make any demand for or exercise any right with respect to the registration of any Lock-Up Securities; or (4) publicly disclose the intention to make any offer, sale, pledge or disposition, or to enter into any transaction, swap, hedge or other arrangement relating to any Lock-Up Securities.

Notwithstanding the foregoing, and subject to the conditions below, the undersigned may transfer Lock-Up Securities without the prior written consent of the Representative in connection with (a) transactions relating to Lock-Up Securities acquired in open market transactions after the completion of the Initial Public Offering; (b) transfers of Lock-Up Securities as a *bona fide* gift or gifts or for estate planning purposes, by will, other testamentary document or intestacy or to a family member or trust for the benefit of a family member (for purposes of this lock-up agreement, "family member" means any relationship by blood, marriage or adoption, not more remote than first cousin); (c) transfers of Lock-Up Securities to a charity or educational institution; (d) if the undersigned, directly or indirectly, controls a corporation, partnership, limited liability company, trust or other business entity, any transfers of Lock-Up Securities to any shareholder, partner or member of, or owner of similar equity interests in, the undersigned, as the case may be, (e) if required by the terms of a qualified domestic relations order, divorce settlement, divorce decree, separation agreement or court order, (f) transfers to any trust for the direct or indirect benefit of the undersigned or the immediate family of the undersigned, or if the undersigned is a trust, to a trustor or beneficiary of the trust or to the estate of a beneficiary of such trust, (g) transfers to a nominee or custodian of a person or entity to whom a disposition or transfer would be permissible under clauses (b), (d), (e) or (f) above, (h) transfers to the Company from an employee or other service provider of the Company upon death, disability or termination of employment or service, in each case, of such employee or other service provider, (i) transfers to the Company in connection with the vesting, settlement, or exercise of restricted stock units, options, warrants or other rights to purchase shares of Common Stock (including, in each case, by way of "net" or "cashless" exercise), including for the payment of exercise price and tax and remittance payments due as a result of the vesting, settlement, or exercise of such restricted stock units, options, warrants or rights, provided that any such shares of Common Stock received upon such exercise, vesting or settlement shall be subject to the terms of this Lock-up Agreement, and provided further that any such restricted stock units, options, warrants or rights are held by the undersigned pursuant to an agreement or equity awards granted under a stock incentive plan or other equity award plan, each such agreement or plan which is described in the [Registration Statement, the Pricing Disclosure Package and the Prospectus], and (j) transfers pursuant to a bona fide third-party tender offer, merger, consolidation or other similar transaction that is approved by the Board of Directors of the Company and made to all holders of the Company's capital stock involving a Change of Control (as defined below) of the Company (for purposes hereof, "Change of Control" shall mean the transfer (whether by tender offer, merger, consolidation or other similar transaction), in one transaction or a series of related transactions, to a person or group of affiliated persons, of shares of capital stock if, after such transfer, such person or group of affiliated persons would hold at least a majority of the outstanding voting securities of the Company (or the surviving entity)); <u>provided</u> that in the event that such tender offer, merger, consolidation or other similar transaction is not completed, the undersigned's Lock-Up Securities shall remain subject to the provisions of this Lock-up Agreement; <u>provided</u> that in the case of any transfer pursuant to the foregoing clauses (b), (c), (d) or (g), if applicable, (i) any such transfer shall not involve a disposition for value and (ii) each transferee shall sign and deliver to the Representative a lock-up agreement substantially in the form of this lock-up agreement. The undersigned also agrees and consents to the entry of stop transfer instructions with the Company's transfer agent and registrar against the transfer of the undersigned's Lock-Up Securities except in compliance with this lock-up agreement.

If (i) during the last 17 days of the Lock-Up Period, the Company issues an earnings release or material news or a material event relating to the Company occurs, or (ii) prior to the expiration of the Lock-Up Period, the Company announces that it will release earnings results or becomes aware that material news or a material event will occur during the 16-day period beginning on the last day of the Lock-Up Period, the restrictions imposed by this lock-up agreement shall continue to apply until the expiration of the 18-day period beginning on the issuance of the earnings release or the occurrence of such material news or material event, as applicable, unless the Representative waives, in writing, such extension.

If the undersigned is an officer or director of the Company, the undersigned further agrees that the foregoing provisions shall be equally applicable to any issuer-directed Shares the undersigned may purchase in the Initial Public Offering.

The Representative agrees that, at least three (3) business days before the effective date of any release or waiver of the foregoing restrictions in connection with a transfer of Lock-Up Securities, the Representative will notify the Company of the impending release or waiver; and the Company has agreed in the Underwriting Agreement to announce the impending release or waiver by press release through a major news service at least two (2) business days before the effective date of the release or waiver. Any release or waiver granted by the Representative hereunder to any such officer or director shall only be effective two (2) business days after the publication date of such press release. The provisions of this paragraph will not apply if (a) the release or waiver is effected solely to permit a transfer of Lock-Up Securities not for consideration and (b) the transferee has agreed in writing to be bound by the same terms described in this lock-up agreement to the extent and for the duration that such terms remain in effect at the time of such transfer.

No provision in this lock-up agreement shall be deemed to restrict or prohibit the exercise, exchange or conversion by the undersigned of any securities exercisable or exchangeable for or convertible into Shares, as applicable; provided that the undersigned does not transfer the Shares acquired on such exercise, exchange or conversion during the Lock-Up Period, unless otherwise permitted pursuant to the terms of this lock-up agreement. In addition, no provision herein shall be deemed to restrict or prohibit the entry into or modification of a so-called "10b5-1" plan at any time (other than the entry into or modification of such a plan in such a manner as to cause the sale of any Lock-Up Securities within the Lock-Up Period).

The undersigned understands that the Company and the Representative are relying upon this lock-up agreement in proceeding toward consummation of the Initial Public Offering. The undersigned further understands that this lock-up agreement is irrevocable and shall be binding upon the undersigned's heirs, legal representatives, successors and assigns. The undersigned hereby represents and warrants that the undersigned has full power and authority to enter into this lock-up agreement and that this lock-up agreement has been duly authorized (if the undersigned is not a natural person) and constitutes the legal, valid and binding obligation of the undersigned, enforceable in accordance with its terms. Upon request, the undersigned hereby agrees to execute any additional documents necessary in connection with the enforcement hereof.

The undersigned understands that, if the Underwriting Agreement is not executed by December 1, 2021, or if the Underwriting Agreement (other than the provisions thereof which survive termination) shall terminate or be terminated prior to payment for and delivery of the Shares to be sold thereunder, then this lock-up agreement shall be void and of no further force or effect.

Whether or not the Initial Public Offering actually occurs depends on a number of factors, including market conditions. The Initial Public Offering will only be made pursuant to an Underwriting Agreement, the terms of which are subject to negotiation between the Company and the Representative.

This agreement and any matters related to this lock-up agreement shall be governed by and construed in accordance with the laws of the State of New York without regard to principles of conflict of laws that would result in the application of any law other than the laws of the State of New York. The undersigned agrees that any suit or proceeding arising in respect of this lock-up agreement will be tried exclusively in the U.S. District Court for the Southern District of New York or, if that court does not have subject matter jurisdiction, in any state court located in the City and County of New York and the undersigned agrees to submit to the jurisdiction of, and to venue in, such courts.

Delivery of a signed copy of this lock-up agreement by facsimile or e-mail/.pdf transmission shall be as effective as the delivery of the original hereof.

 

*[Signature page follows]*

---

| |
|:---|
| Very truly yours, |
| (Name - Please Print) |
| (Name of Signatory, in the case of entities - Please Print) |
| (Signature) |
| (Title of Signatory, in the case of entities - Please Print) |
| Address: |

---

**<u>EXHIBIT C</u>**

**<u>Form of Press Release</u>**

Vocodia Holdings Corp

[Date]

Vocodia Holdings Corp (the "**Company**") announced today that Alexander Capital, L.P., acting as representative for the underwriters in the Company's initial public offering of _______ shares of the Company's common stock, is [waiving] [releasing] a lock-up restriction with respect to _________ shares of the Company's common stock held by [certain officers or directors] [an officer or director] of the Company. The [waiver] [release] will take effect on _________, 20___, and the shares may be sold on or after such date.

**This press release is not an offer or sale of the securities in the United States or in any other jurisdiction where such offer or sale is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended**.

**<u>EXHIBIT D</u>**

**<u>Form of Press Release</u>**

## Exhibit 3.1

**Exhibit 3.1**

---

| | | |
|:---|:---|:---|
| ![](cm250_ex3-1img01.jpg) | **Wyoming Secretary of State** | <u>For Office Use Only</u> |
| ![](cm250_ex3-1img01.jpg) | Herschler Bldg East, Ste.100 & 101 | **WY Secretary of State** |
| ![](cm250_ex3-1img01.jpg) |  | **FILED: Apr 27 2021 10:30AM** |
| ![](cm250_ex3-1img01.jpg) | Cheyenne, WY 82002-0020 | **Original ID: 2021-001000290** |
| ![](cm250_ex3-1img01.jpg) | Ph. 307-777-7311 | |

---

**Profit Corporation**

**Articles of Incorporation**

**I.** **The name of the profit corporation is:** 

Vocodia Holdings Corp

**II.** **The name and physical address of the registered agent of the profit corporation is:** 

Registered Agents Inc.

30 N Gould St Ste R

Sheridan, WY 82801

**III.** **The mailing address of the profit corporation is:** 

30 N Gould St

Ste R

Sheridan, WY 82801

**IV.** **The principal office address of the profit corporation is:** 

30 N Gould St

Ste R

Sheridan, WY 82801

**V.** **The number, par value, and class of shares the profit corporation corporation will have the authority to issue are:** 

---

| | | | |
|:---|:---|:---|:---|
| Number of Common Shares: | 100000000 | Common Par Value: | $0.0001 |
| Number of Preferred Shares: | 0 | Preferred Par Value: | $0.0000 |

---

**VI.** **The name and address of each incorporator is as follows:** 

Registered Agents Inc.

30 N Gould St Ste R, Sheridan, WY 82801

---

| | | |
|:---|:---|:---|
| **Signature:** | ***Riley Park*** | Date: **04/27/2021** |
| Print Name: | **Riley Park** |  |
| Title: | **Authorized individual** |  |
| Email: | **reports@registeredagentsinc.com** |  |
| Daytime Phone#: | **(307) 200-2803** |  |

---

Page 1 of 4

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| | |
|:---|:---|
| ![](cm250_ex3-1img01.jpg) | **Wyoming Secretary of State** |
| ![](cm250_ex3-1img01.jpg) | Herschler Bldg East, Ste.100 & 101 |
| ![](cm250_ex3-1img01.jpg) |  |
| ![](cm250_ex3-1img01.jpg) | Cheyenne, WY 82002-0020 |
| ![](cm250_ex3-1img01.jpg) | Ph. 307-777-7311 |

---

○ I am the person whose signature appears on the filing; that I am authorized to file these documents on behalf of the business entity to which they pertain; and that the information I am submitting is true and correct to the best of my knowledge.

○ I am filing in accordance with the provisions of the Wyoming Business Corporation Act, (W.S. 17-16-101 through 1716-1804) and Registered Offices and Agents Act (W.S. 17-28-101 through 17-28-111).

○ I understand that the information submitted electronically by me will be used to generate Articles of Incorporation that will be filed with the Wyoming Secretary of State.

○ I intend and agree that the electronic submission of the information set forth herein constitutes my signature for this filing.

○ I have conducted the appropriate name searches to ensure compliance with W.S. 17-16-401.

○ I affirm, under penalty of perjury, that I have received actual, express permission from each of the following incorporators to add them to this business filing: Registered Agents Inc.

**Notice Regarding False Filings: Filing a false document could result in criminal penalty and prosecution pursuant to W.S. 6-5-308.**

---

| |
|:---|
| **W.S. 6-5-308. Penalty for filing false document.** |
| (a) A person commits a felony punishable by imprisonment for not more than two (2) years, a fine of not more than two thousand dollars ($2,000.00), or both, if he files with the secretary of state and willfully or knowingly: |
| (i) Falsifies, conceals or covers up by any trick, scheme or device a material fact; |
| (ii) Makes any materially false, fictitious or fraudulent statement or representation; or |
| (iii) Makes or uses any false writing or document knowing the same to contain any materially false, fictitious or fraudulent statement or entry. |

---

○ I acknowledge having read W.S. 6-5-308.

---

| | | |
|:---|:---|:---|
| **Filer is:** | D An Individual | 0 An Organization |

---

The Wyoming Secretary of State requires a natural person to sign on behalf of a business entity acting as an incorporator, organizer, or partner. The following individual is signing on behalf of all Organizers, lncorporators, or Partners.

**<u>Filer Information:</u>**

**By submitting this form I agree and accept this electronic filing as legal submission of my Articles of Incorporation.**

---

| | | |
|:---|:---|:---|
| **Signature:** | ***Riley Park*** | Date: **04/27/2021** |
| Print Name: | **Riley Park** |  |
| Title: | **Authorized individual** |  |
| Email: | **reports@registeredagentsinc.com** |  |
| Daytime Phone#: | **(307) 200-2803** |  |

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Page 2 of 4

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| | |
|:---|:---|
| ![](cm250_ex3-1img01.jpg) | **Wyoming Secretary of State** |
| ![](cm250_ex3-1img01.jpg) | Herschler Bldg East, Ste.100 & 101 |
| ![](cm250_ex3-1img01.jpg) |  |
| ![](cm250_ex3-1img01.jpg) | Cheyenne, WY 82002-0020 |
| ![](cm250_ex3-1img01.jpg) | Ph. 307-777-7311 |

---

**Consent to Appointment** **by Registered Agent**

**Registered Agents Inc.,** whose registered office is located at **30 N Gould St Ste R, Sheridan, WY 82801,** voluntarily consented to serve as the registered agent for **Vocodia Holdings Corp** and has certified they are in compliance with the requirements of W.S. 17-28-101 through W.S.17-28-111.

I have obtained a signed and dated statement by the registered agent in which they voluntarily consent to appointment for this entity.

---

| | | |
|:---|:---|:---|
| **Signature:** | ***Riley Park*** | Date: **04/27/2021** |
| Print Name: | **Riley Park** |  |
| Title: | **Authorized individual** |  |
| Email: | **reports@registeredagentsinc.com** |  |
| Daytime Phone#: | **(307) 200-2803** |  |

---

Page 3 of 4

Page 4 of 4

## Exhibit 3.1

**Exhibit 3.1.1**

---

| | | |
|:---|:---|:---|
| ![](cm250_ex3-1iimg01.jpg) | **Wyoming Secretary of State** |  |
| ![](cm250_ex3-1iimg01.jpg) | Herschler Building East, Suite 101 |  |
| ![](cm250_ex3-1iimg01.jpg) | 122 W 25th Street | For Office Use Only |
| ![](cm250_ex3-1iimg01.jpg) | Cheyenne, WY 82002-0020 |  |
| ![](cm250_ex3-1iimg01.jpg) | Ph. 307.777.7311 |  |
| ![](cm250_ex3-1iimg01.jpg) | Email: Business@wyo.gov |  |

---

**Profit Corporation**

**Articles of Amendment**

1. Corporation name:

*(Name must match exactly to the Secretary of State's records.)*

Vocodia Holdings Corp <br>  

---

| | | |
|:---|:---|:---|
| 2. Article number(s) | V | &nbsp;&nbsp;&nbsp;is amended as follows: |

---

***\**** ***See checklist below for article number information.***

---

| |
|:---|
| The Corporation is authorized to issue the following number of shares, which shall be divided into two classes of stock and have the rights referenced below: |
| Common Stock: 80,000,000 with a par value of $0.0001, with each share of Common Stock having 1 vote per share. |
| Preferred Stock: 20,000,000 with a par value of $0.0001, with each share of Preferred Stock having 1,000 votes per share. |

---

3. If the amendment provides for an exchange, reclassification, or cancellation of issued shares, provisions for implementing the amendment if not contained in the amendment itself which may be made upon facts objectively ascertainable outside the articles of amendment.

4. The amendment was adopted on <br> *(Date - mm/dd/yyyy)*

5. Approval of the amendment: *(Please check **<u>only one</u>** appropriate field to indicate the party approving the amendment.)*

&nbsp;&nbsp;&nbsp;**<u>Shares were *not* issued</u>** and the board of directors or incorporators have adopted the amendment.<br>

**<u>OR</u>**

&nbsp;&nbsp;&nbsp;**<u>Shares were issued</u>** and the board of directors have adopted the amendment *without shareholder approval,* in compliance with W.S. 17-16-1005.

**<u>OR</u>**

---

| | |
|:---|:---|
| **✔** | &nbsp;&nbsp;&nbsp;**<u>Shares were issued</u>** and the board of directors have adopted the amendment *with shareholder approval,* in compliance with W.S. 17-16-1003. |

---

---

| | | |
|:---|:---|:---|
| **Signature:** | **Date:** | |
| *(May be executed by Chairman of Board, President or another of its officers.)* |  | *(mm/dd/yyyy)* |

---

Print Name: Brian Podolak Contact Person: Brian Podolak

Title: President Daytime Phone Number: 561-484-5234

---

| | |
|:---|:---|
| Email: | brian@vocodia.com |
| *(**An email address is required.** Email(s) provided will receive important reminders, notices and filing evidence.)* | *(**An email address is required.** Email(s) provided will receive important reminders, notices and filing evidence.)* |

---

<u>Checklist</u>

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;***Filing Fee: $60.00*** Make check or money order payable to Wyoming Secretary of State. |
| &nbsp;&nbsp;&nbsp;**Processing time is up to 15 business days** following the date of receipt in our office. |
| &nbsp;&nbsp;&nbsp;\*Refer to original articles of incorporation to determine the specific article number being amended or use the next number in sequence if you are adding an article. ***Article number(s) is not the same as the filing ID number.*** |
| &nbsp;&nbsp;&nbsp;Please mail with payment to the address at the top of this form. **This form cannot be accepted via email.** |
| &nbsp;&nbsp;&nbsp;Please review the form prior to submission. **The Secretary of State's Office is unable to process incomplete forms.** |

---

## Exhibit 3.2

**Exhibit 3.2**

**WY Secretary of State** <br> **FILED: 01/27/2023 11:06 AM** <br> **Original ID: 2021-001000290** <br> **Amendment ID: 2023-004000333**<br>

**STATE OF WYOMING** 

**CERTIFICATE OF AMENDMENT** 

**TO CERTIFICATE OF INCORPORATION**

**(Pursuant to Title 17-10-107** 

**of the Wyoming Statutes of the State of Wyoming)**

**Vocodia Holdings Corp,** a corporation organized and existing under and by virtue of the laws of the State of Wyoming does hereby certify:

**FIRST:** That the board of directors of **Vocodia Holdings Corp,** duly adopted resolutions setting forth a proposed amendment to the Amended and Restated Certificate of Incorporation, as amended, of said corporation, declaring said amendment to be advisable. The resolution setting forth the proposed amendment is as follows:

**RESOLVED:** That the Certificate of Incorporation, as amended, of this corporation be amended by adding the following paragraph as **<u>Article VII</u>** of the Certificate of Incorporation, as amended:

"Upon the filing and effectiveness (the ***"Effective Time*"**) pursuant to the Wyoming Statutes of this Certificate of Amendment to the Certificate of Incorporation, as amended, of the Corporation, each twenty (20) shares of Common Stock issued and outstanding immediately prior to the Effective Time shall, automatically and without any action on the part of the respective holders thereof, be combined and converted into one (1) share of Common Stock (the ***"Reverse Stock Split"****).* No fractional shares shall be issued in connection with the Reverse Stock Split but shall be rounded up to the nearest whole number. Each record that immediately prior to the Effective Time represented shares of Common Stock *(**"Old Records"**),* shall thereafter represent that number of shares of Common Stock into which the shares of Common Stock represented by the Old Records shall have been combined, subject to the elimination of fractional share interests as described above. The Reverse Stock Split shall have no effect on the authorized amount or par value of the Common Stock, Preferred Stock, or the currently issued and outstanding serics(s) of Preferred Stock and presently issued and outstanding Preferred Stock."

**SECOND:** That thereafter, the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a stockholders meeting at which all shares entitled to vote thereon were present and voted, approved of the Reverse Stock Split by written consent in lieu of a meeting pursuant to Title 17-16-704 of the Wyoming Statutes of the State of Wyoming.

**THIRD:** That said amendment was duly adopted in accordance with the provisions of Title 17-10-107 of the Wyoming Statutes of the State of Wyoming.

**IN WITNESS WHEREOF,** said corporation has caused this certificate to be signed on January 27, 2023.

---

| | |
|:---|:---|
| By: | /s/ Brian Podolak |
| Name: | Brian Podolak |
| Title: | President and Chairman of the Board of Directors |

---

## Exhibit 3.3

**Exhibit 3.3**

**AMENDED AND RESTATED**

**BYLAWS OF** 

**VOCODIA HOLDINGS CORP**

**Article I**

**OFFICES**

The principal office of Vocodia Holdings Corp, a Wyoming corporation (the "Corporation"), shall be located either within or outside of Wyoming, as the Board of Directors of the Corporation (the "Board") may designate from time to time. The Corporation may have such other offices either within or outside the state of incorporation as the Board may designate or as the business of the Corporation may require.

The registered office of the Corporation in the Articles of Incorporation (as amended or amended and restated, the "Articles") need not be identical with the principal office of the Corporation.

**Article II**

**SHAREHOLDERS**

Section 2.1 <u>Annual Meeting</u>. The annual meeting of the shareholders shall be held each year on a date and at a time and place to be determined by resolution of the Board, for the purpose of electing directors and for the purpose of voting upon such matters as properly may come before the meeting in accordance with these Bylaws. The nomination (which shall be conducted at the annual meeting) of persons for election to the Board shall be considered an integral part of the purpose of electing directors at the annual meeting. If the election of directors shall not be held on the day designated for the annual meeting of the shareholders, or at any adjournment thereof, the Board shall cause the election to be held at a special meeting of the shareholders.

Section 2.2 <u>Special Meetings</u>. Special meetings of the shareholders for any purpose, unless otherwise provided for by statute, may be called by the Board. The Board shall call a special meeting upon receipt by the Corporation's Secretary of one or more written demands of the holders of twenty-five percent (25%) of all the votes entitled to be cast at the proposed special meeting, signed and dated, by such holders, either manually or in facsimile, and setting forth the purposes for which it is to be held; provided, however, that the Board has the discretion to require that the issues for which a special meeting is demanded by shareholders holding twenty-five percent (25%) of the votes entitled to be cast at the proposed special meeting be considered instead at the next annual meeting if the demand for the special meeting is made within 180 days of the next annual meeting. If a purpose of a special meeting is to elect directors to the Board, the nomination (which shall be conducted at the special meeting) of persons for election to the Board shall be considered an integral part of the purpose of electing directors at the special meeting.

Section 2.3 <u>Place of Meeting</u>. The Board may designate any place, either within or outside Wyoming, as the place of meeting for any annual or special meeting. If no designation is made, the place of meeting shall be the registered office of the Corporation in Wyoming.

Section 2.4 <u>Notice of Meeting</u>. The Corporation shall deliver written notice of any annual or special meeting of the shareholders, stating the place, day and hour of the meeting, no fewer than ten (10) and no more than sixty (60) days before the meeting date. A notice of a special meeting, if demanded by the holders of at least twenty-five percent (25%) of all the votes entitled to be cast at the special meeting, shall state the purpose or purposes for which that meeting is called, and that notice shall be delivered, only by the Corporation, and then only if the requirements of Section 2.12 have been satisfied, not more than sixty (60) days before the special meeting date. Additionally, the period of time between the Corporation's receipt of a special meeting demand, and the sending of notice thereof (if the requirements of Section 2.12 have been satisfied), shall be sufficient to allow the proper operation of Section 2.12. If an annual or special meeting is adjourned to a different time or place, notice need not be given of the new date, time or place if the new date, time or place is announced at the meeting before adjournment; provided however, notice of the adjourned meeting shall be given to persons who are shareholders as of any new record date that is fixed with respect to the adjournment.

Except for a shareholder proposal which has been properly brought before an annual or special meeting pursuant to Section 2.12, no proposal that is not within the purpose or purposes specifically described in the notice of a meeting of shareholders, whether an annual or a special meeting, shall be conducted at the meeting, nor shall any action be taken by the shareholders on any other matter unless it is specifically described as a purpose in the notice for the meeting.

Section 2.5 <u>Fixing of Record Date</u>. For the purpose of determining the shareholders entitled to notice of or to vote at any meeting of shareholders or any adjournment thereof, entitled to demand a special shareholders' meeting, or shareholders entitled to receive payment of any dividend, or in order to make a determination of shareholders for any other proper purpose, the Board may fix in advance a date (the "Record Date") for any such determination of shareholders, which date shall be not more than 60 days prior to the date on which the particular action requiring such determination of shareholders is to be taken. If no Record Date is fixed by the Board, the Record Date for any such purpose shall be ten (10) days before the date of such meeting or action. The Record Date determined for the purpose of ascertaining the shareholders entitled to notice of or to vote at a meeting may not be less than ten (10) days prior to the meeting.

When a Record Date has been determined for the purpose of a meeting, the determination shall apply to any adjournment thereof, except the original Record Date shall only be effective with respect to an adjournment or adjournments held within one hundred twenty (120) days after the date fixed at the original meeting.

Section 2.6 <u>Quorum</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) One-third (1/3) of the votes entitled to be cast on a matter represented in person or by proxy shall constitute a quorum at a meeting of shareholders with respect to such matters. If less than a quorum of the outstanding shares are represented at a meeting, such meeting may be adjourned without further notice for a period which may be determined at the time such meeting is adjourned. At such adjourned meeting, at which a quorum shall be present, any business may be transacted which might have been transacted at the original meeting. Once a share is represented for any purpose at a meeting, it is deemed present for quorum purposes for the remainder of the meeting, and for any adjournment of that meeting unless a new record date is or shall be set for that adjourned meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Shareholders present or represented by proxy at an annual or special meeting at which a quorum is not present may take only the following actions:

(i) Ratify or reject the independent auditors selected by the Board.

(ii) With the consent of the officer presiding at the meeting, receive or hear any reports on the affairs of the Corporation that may be presented.

(iii) Within the constraints of the time allowed on the agenda, ask questions concerning the affairs of the Corporation of any officer or Board member present.

(iv) Adjourn or recess the meeting to allow time to assemble a quorum, but the shareholders may not adjourn or recess to a different city and the total of all the adjournments and recesses may not exceed two business days without the consent of the Board.

(v) If a quorum is not present, the shareholders may adjourn the meeting without an appointed date for resumption, provided the motion to adjourn without an appointed date for resumption shall not be in order until at least two hours have passed since the time specified for the start of the meeting and the time at which the meeting was called to order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If an annual meeting is adjourned without an appointed date for resumption without achieving a quorum, the requirement of the Wyoming Business Corporation Act section 17-16-701 (or its successor provision) shall have been satisfied. The Board may call a second annual meeting to take the place of the one adjourned without a quorum, but the Board is not obligated to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If a special meeting is adjourned without an appointed date for resumption without achieving a quorum, or without achieving the quorum necessary to consider completely the purpose or purposes for which the meeting was called, the Board may call another special meeting, but is not obligated to do so. The remedy of a shareholder aggrieved by a failure of the Board to call another special meeting shall be to follow the procedures necessary to demand that a new special meeting be called.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If different quorums are required for different purposes at a meeting, the absence of a quorum on one purpose shall not affect the ability of the shareholders at the meeting to act on other purposes where a quorum is present.

Section 2.7 <u>Voting of Shares</u>. Each outstanding share of common stock entitled to vote shall be entitled to one vote upon each matter submitted to a vote at a meeting of shareholders.

Section 2.8 <u>Proxies</u>. At all meetings of shareholders, a shareholder may vote by proxy executed, either manually or in facsimile, by the shareholder or by his duly authorized attorney-in-fact. Such appointment of a proxy shall be filed with the Secretary of the Corporation before or at the time of the meeting. No appointment of a proxy shall be valid after 11 months from the date of its execution, unless a longer period is expressly provided in the appointment form. The proxies named in the Corporation's proxy statement shall have discretionary authority to vote at all meetings of shareholders as provided Rule 14a-4(c) promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as that rule is currently in effect or as it subsequently may be amended or superseded.

Section 2.9 <u>Voting of Shares by Certain Holders</u>. Shares standing in the name of another corporation may be voted by agent or proxy as the bylaws of such corporation may prescribe or, in the absence of such provision, as the board of directors of such corporation may determine as evidenced by a duly certified copy of either the bylaws or corporate resolution.

Neither treasury shares, shares of its own stock held by the Corporation in a fiduciary capacity nor shares held by another corporation, if the majority of the shares entitled to vote for the election of directors of such other corporation is held by the Corporation (except to the extent permitted by the Articles and Wyoming law), shall be voted at any meeting or counted in determining the total number of outstanding shares at any given time.

Shares held by an administrator, executor, guardian or conservator may be voted by such fiduciary, either in person or by proxy, without a transfer of such shares into the name of such fiduciary. Shares standing in the name of a trustee may be voted by such trustee, either in person or by proxy, but no trustee shall be entitled to vote shares held by a trustee without a transfer of the shares into such trust.

Shares standing in the name of a receiver may be voted by such receiver and shares held by or under the control of a receiver may be voted by such receiver, without the transfer thereof into the name of such receiver if authority so to do is contained in an appropriate order of the court by which the receiver was appointed.

A shareholder whose shares are pledged shall be entitled to vote such shares until the shares have been transferred on the books of the Corporation into the name of the pledgee, and thereafter the pledgee shall be entitled to vote the shares so transferred.

Section 2.10 <u>Cumulative Voting</u>. Cumulative voting shall not be permitted in the election of directors, unless otherwise provided by the Articles and the Wyoming Business Corporation Act.

Section 2.11 <u>Inspectors and Shareholder Lists</u>.

<u>Inspectors</u>. The Board may, in advance of any meeting of shareholders, appoint one or more inspectors to act at such meeting or any adjournment thereof. If the inspectors shall not be so appointed or if any of them shall fail to appear or act, the chairman of the meeting may appoint inspectors. Each inspector, before entering upon the discharge of his duties, shall take and sign an oath faithfully to execute the duties of inspector at such meeting with strict impartiality and according to the best of his ability. The inspectors shall determine the number of shares outstanding and the voting power of each, the number of shares represented at the meeting, the existence of a quorum, the validity and effect of proxies and shall receive votes, ballots or consents, hear and determine all challenges and questions arising in connection with the right to vote, count and tabulate all votes, ballots or consents, determine the result and do such acts as are proper to conduct the election or vote with fairness to all shareholders. On request of the chairman of the meeting or any shareholder entitled to vote thereat, the inspectors shall make a report in writing of any challenge, request or matter determined by them and shall execute a certificate of any fact found by them.

<u>Shareholder Lists</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Access to the list of shareholders shall be restricted to a period beginning two days after the date of the notice of the shareholders' meeting for which the list was prepared, or 10 days before the date of the meeting, whichever is less.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Board may deny to shareholders the right to copy the list of shareholders before the meeting, provided that:

(i) Arrangements are made for an independent firm to provide to shareholders any information any shareholder wants to send them relative to the matters to be considered at the meeting, provided the shareholder pays for the mailing and provides the material in a timely fashion;

(ii) The list is made available at the shareholder's expense to any shareholder at or after the meeting who is bringing a legal challenge to the right of any other shareholder to vote at the meeting; and

(iii) The list is available for inspection (but not copying) as provided by (a) above, and at the meeting. The making of handwritten copies by the shareholder or his attorney of the names and addresses of individual shareholders shall not be construed as copying within the meaning of subsection (a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Board may take any other steps it deems reasonable or necessary to prevent the use of its shareholder lists for purposes not related to issues under consideration at a shareholder meeting.

Section 2.12 <u>Advance Notice Requirement for Shareholder Proposals</u>. For any matter to be considered as a proper purpose for consideration by the shareholders at an annual or special meeting, which is not specifically stated as a purpose in the Corporation's notice of the meeting (such other matter referred to in this section as a "Shareholder Proposal"), each of the conditions set forth below must be satisfied. For purposes of this Section 2.12 (and Article II in general), a proposal to nominate persons for election to the Board shall be deemed to constitute a Shareholder Proposal.

The following conditions also shall apply to any motion which the requesting shareholder intends to make from the floor of the meeting to nominate a person for election to the Board, where such person has not been included as a director candidate in the Corporation's notice of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At least 90 calendar days, but no earlier than 120 calendar days, before the date of the meeting of the Corporation's shareholders, the requesting shareholder shall give written notice to the Secretary of the Corporation, providing:

(i) a brief description of the Shareholder Proposal which the shareholder wishes to present to the meeting;

(ii) the reason why the Shareholder Proposal is sought to be presented at the meeting;

(iii) a statement of any material interest which the requesting shareholder or its beneficial owners have in the Shareholder Proposal;

(iv) as to the requesting shareholder giving the notice and the beneficial owner, if any, on whose behalf the Shareholder Proposal to nominate or another Shareholder Proposal is made, a statement of (1) the requesting shareholder's and such beneficial owner's name and address, (2) the number of shares of the Corporation owned of record or beneficially by the requesting shareholder and such beneficial owner, (3) the name of each nominee holder of shares owned beneficially but not of record by the requesting shareholder and the number of shares of stock held by each such nominee holder, and (4) whether and the extent to which any derivative instrument, swap, option, warrant, short interest, hedge or profit interest or other transaction has been entered into by or on behalf of the requesting shareholder with respect to stock of the Corporation and whether any other agreement, arrangement or understanding (including any short position or any borrowing or lending of shares of stock) has been made by or on behalf of the requesting shareholder, the effect or intent of any of the foregoing being to mitigate loss to, or to manage risk of stock price changes for, such shareholder or to increase or decrease the voting power or pecuniary or economic interest of the requesting shareholder with respect to stock of the Corporation;

(v) a description of all agreements, arrangements or understandings between the requesting shareholder and any other person or persons (including their names) in connection with the Shareholder Proposal;

(vi) a representation that the shareholder is a holder of record of stock of the Corporation entitled to vote at such meeting and intends to appear in person or by proxy at the meeting to propose such business or nomination and a representation whether the shareholder or the beneficial owner, if any, intends or is part of a group which intends to solicit proxies from other shareholders in support of such nomination; and

(vii) the text of any amendment to the Articles, or these Bylaws, which would be part of the Shareholder Proposal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding a requesting shareholder's compliance with the provisions of paragraph (a) above, a Shareholder Proposal shall not be deemed properly presented to the meeting if the full Board, by majority vote, determines that allowing the Shareholder Proposal to be considered by the shareholders at the meeting would be prohibited by the Articles, other provisions of these Bylaws then in effect, Wyoming law, or federal securities laws.

Section 2.13 <u>Informal Action by Shareholders</u>. Any action required or allowed to be taken at a meeting may be taken without a meeting; provided, however, that a consent in writing setting forth the action so taken shall be signed by those shareholders entitled to vote who are sufficient to result in the passage of the matter under Wyoming Law. This consent shall have the same force and effect as a vote of the shareholders, and may be stated as such in any articles or document filed with the Secretary of State for the State of Wyoming under the Wyoming Corporation Code.

Section 2.14 <u>Virtual Meetings</u>. Shareholders may participate and be deemed present at a meeting by means of conference telephone or any other means of communications equipment by which all persons participating may communicate with each other during the meeting.

**Article III**

**BOARD OF DIRECTORS**

Section 3.1 <u>General Powers</u>. The Board shall manage and direct the business and affairs of the Corporation in such manner as it sees fit. Directors shall discharge their duties in such capacity in good faith, with the care an ordinarily prudent person in a like position would exercise under similar circumstances, and in a manner reasonably believed to be in or at least not opposed to the best interests of the Corporation. For the purposes of the preceding sentence, a director, in determining what is reasonably believed to be in or not opposed to the best interests of the Corporation, shall consider the interests of the Corporation's shareholders, and at the director's discretion may consider the interests of the Corporation's employees, suppliers, creditors and customers, the economy of the state and nation, the impact of any action upon the communities in or near which the Corporation's facilities or operations are located, the long- term interests of the Corporation and its shareholders, including the possibility that those interests may be best served by the continued independence of the Corporation and any other factors relevant to preserving public or community interests. In addition to the powers and authorities expressly conferred upon it, the Board may do all lawful acts which are not directed to be done by the shareholders by statute, by the Articles or by these Bylaws.

Section 3.2 <u>Number, Tenure and Qualifications</u>. The number of directors of the Corporation shall be two (2) until the time of the Company's initial public offering and then will automatically increase to five (5) at that time, provided that the number may be increased or decreased from time to time by an amendment to these Bylaws or by resolution adopted by the Board. Subject to any provision in the Articles for a staggered or classified Board, each director shall hold office until the third succeeding annual meeting of shareholders and until a successor director has been elected and qualified, or until the death, resignation or removal of such director. The term of each independent director (as defined in the rules and regulations of the Nasdaq Stock Market (or other stock exchange or market on which the Corporation's Securities are traded) and the Securities and Exchange Commission) shall be two terms, unless the Chairman of the Board specifically recommends and the full Board approves additional terms for such independent director. Directors need not be residents of Wyoming or shareholders of the Corporation.

Section 3.3 <u>Regular Meetings</u>. A regular meeting of the Board shall be held, without other notice than this Bylaw, immediately before, after and/or at the same place as an annual meeting of shareholders. The Board may provide, by resolution, the time and place, either within or outside the state of incorporation, for the holding of additional regular meetings, without other notice than such resolution.

Section 3.4 <u>Special Meetings</u>. Special meetings of the Board may be called by or at the request of the Chief Executive Officer, President or any two directors, and such special meetings may be called for any place, either within or outside Wyoming.

Section 3.5 <u>Telephonic Meetings</u>. Members of the Board and committees thereof may participate and be deemed present at a meeting by means of conference telephone or any other means of communications equipment by which all persons participating may communicate with each other during the meeting.

Section 3.6 <u>Notice</u>. Notice of any special meeting of the Board shall be given by telephone, e-mail, facsimile or written notice sent by mail. Notice shall be delivered at least two days prior to the meeting if the meeting is called by or at the request of the President or Chairman of the Board if given by telephone or by written notice. Written or telephonic notice of a meeting called by two directors shall be delivered personally or by mail to each director at such director's business or home address at least five days prior to the meeting. Notice of any special meeting of the Board shall include an agenda of the items to be considered at a special meeting.

Any director may waive notice of any meeting and, except as provided in the following sentence, such waiver shall be in writing, signed either manually or in facsimile, and filed with the minutes or corporate records. The attendance of a director at a meeting shall constitute a waiver of notice of such meeting, except where a director objects to holding the meeting or transacting business at the meeting and does not thereafter vote for or assent to action taken at the meeting. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the Board need be specified in the notice or waiver of notice of such meeting.

Section 3.7 <u>Quorum</u>. A majority of the total membership of the Board shall constitute a quorum for the transaction of business at any meeting of the Board, but if a quorum shall not be present at any meeting or adjournment thereof, a majority of the directors present may adjourn the meeting without further notice.

Section 3.8 <u>Action by Consent of All Directors</u>. Any action required to be taken, or which may be taken at a meeting of the Board may be taken without a meeting, if the action is taken by majority of the Board, evidenced by one or more written consents describing the action taken, signed, either manually or in facsimile, by each director, and included in the minutes or filed with the corporate records reflecting the action taken. Actions taken by written unanimous consent are effective when the last director signs the consent, unless the consent specifies a different effective date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If action is taken by less than unanimous written consent of the directors, the corporation shall give the nonconsenting or nonvoting directors written notice of the action not more than ten (10) days after written consents sufficient to take the action have been delivered to the corporation. The notice shall reasonably describe the action taken. The requirements to give the notice shall not delay the effectiveness of actions taken by the written consent, and a failure to comply with the notice requirements shall not invalidate actions taken by written consent, provided that this subsection shall be deemed to limit judicial power to fashion any appropriate remedy in favor of a director adversely affected by a failure to give the notice within the required timed period.

Section 3.9 <u>Manner of Acting</u>. The act of a majority of the directors present at a meeting at which a quorum is present shall be an act of the Board.

The order of business at any regular or special meeting of the Board shall be:

1. Record of those present.

2. Secretary's proof of notice of meeting, if notice is not waived.

3. Reading and disposal of unapproved minutes, if any.

4. Reports of officer.

5. Unfinished business, if any.

6. New business.

7. Adjournment.

Section 3.10 <u>Vacancies</u>. Any vacancy occurring in the Board by reason of an increase in the number of directors specified in these Bylaws, or for any other reason, may be filled by the affirmative vote of a majority of the directors voting on such matter at a duly convened meeting, or in the event that the directors remaining in office constitute fewer than a quorum of the Board, by the affirmative vote of a majority of all directors remaining in office.

Section 3.11 <u>Compensation</u>. By resolution of the Board, the directors may be paid their expenses, if any, for attendance at each meeting of the Board and may be paid a fixed sum, which shall be determined by the Board, for attendance at each meeting of the Board and a stated salary or retainer, equity incentives and/or other compensation for service as director. No such payment shall preclude any director from serving the Corporation in any other capacity and receiving compensation therefor or from receiving compensation for any extraordinary or unusual services as a director.

Section 3.12 <u>Presumption of Assent</u>. A director of the Corporation who is present at a meeting of the Board at which action on any corporate matter is taken shall be deemed to have assented to an action taken at such meeting unless the director objects at the beginning of the meeting or promptly upon arrival to holding the meeting or transacting business at the meeting; the dissent of such director is entered in the minutes of the meeting; or the director delivers written notice of such dissent or abstention to the presiding officer of the meeting before its adjournment or to the Corporation immediately after adjournment of the meeting. Such right to dissent is not available to a director who voted in favor of such action.

Section 3.13 <u>Executive or Other Committees</u>. The Board, by resolution adopted by the greater of a majority of the directors in office when the action is taken or the number of directors required by the Articles or Bylaws to take action under Wyoming Statute Section 17-16-824, may create one or more committees and appoint members of the Board to serve on them. Each committee shall have one (1) or more members who serve at the pleasure of the Board. Any committee designated as an executive committee may exercise the authority of the Board under Wyoming Statute Section 17-16-801, and shall have all of the authority of the Board, but unless specifically authorized by the Board no such committee shall have the authority of the Board in reference to authorizing distributions, approving or proposing to shareholders action that the Wyoming Business Corporation Act requires be approved by shareholders, filling vacancies on the Board or any of its committees, amending the Articles pursuant to Wyoming Statute Section 17-16-1002, adopting, amending or repealing the Bylaws, a plan of merger not requiring shareholder approval, authorizing or approving a reacquisition of shares (except according to a formula method prescribed by the Board), or determining the designation and relative rights, preferences and limitations of a class or series of shares (except that the Board may authorize a committee or a senior executive officer of the Corporation to do so within limits specifically prescribed by the Board). The designation of such committees and the delegation thereto of authority shall not operate to relieve the Board, or any member thereof, of any responsibility imposed by law.

Any action required to be taken, or which may be taken at a meeting of a committee designated in accordance with this Section of the Bylaws, may be taken without a meeting, if the action is taken by all members of the Committee, evidenced by one or more written consents, setting forth the action so taken, signed either manually or in facsimile, by each Committee member and filed with the Corporation records reflecting the transaction. Such action by written consent of all entitled to vote shall have the same force and effect as a unanimous vote of such persons.

Section 3.14 <u>Resignation of Officers or Directors</u>. Any director or officer may resign at any time by submitting a resignation in writing. Such resignation takes effect from the time of its receipt by the Corporation unless a date or time is fixed in the resignation, in which case it will take effect from that time. Acceptance of the resignation shall not be required to make it effective.

Section 3.15 <u>Removal</u>. A director may be removed by shareholders, with or without cause pursuant to the Articles, at a duly convened meeting called for the purpose of such removal. The notice for any meeting at which it is proposed that a director be removed must specifically state that such is a purpose of the meeting.

**Article IV**

**OFFICERS**

Section 4.1 <u>Number</u>. The officers of the Corporation shall be a Chief Executive Officer, President, a Secretary and a Treasurer. All of the preceding shall be executive officers and shall be elected by the Board. One or more Vice Presidents or other C-level executives shall be executive officers if the Board so determines by resolution. Such other officers may be appointed and removed in accordance with Article IV, Section 4.11, hereof. Any two or more offices may be held by the same person.

Section 4.2 <u>Election and Term of Office</u>. The executive officers of the Corporation shall be elected annually by the Board at its first meeting held after each annual meeting of the shareholders or at a convenient time soon thereafter. Each executive officer shall hold office until the resignation of such officer or a successor shall be duly elected and qualified, until the death of such executive officer, or until removal of such officer in the manner herein provided.

Section 4.3 <u>Removal</u>. Any officer or agent elected or appointed by the Board may be removed by the Board whenever, in its judgment, the best interests of the Corporation would be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed.

Section 4.4 <u>Vacancies</u>. A vacancy in any executive office because of death, resignation, removal, disqualification or otherwise may be filled by the Board for the unexpired portion of the term.

Section 4.5 <u>Chairman of the Board</u>. The Chairman of the Board shall be appointed by the affirmative vote of at least a majority of the members of the Board, unless otherwise determined by the Board. The Chairman shall preside at all meetings of the shareholders and of the Board.

Section 4.6 <u>The Chief Executive Officer and the President</u>. Subject to the control of the Board, the Chief Executive Officer shall be in general charge of the affairs of the Corporation. The Chief Executive Officer shall sign, with the other officers of the Corporation as appropriate and as authorized by the Board generally, certificates for shares of the Corporation, deeds, mortgages, bonds, contracts or other instruments whose execution the Board has authorized, except in cases where the signing and execution thereof shall be expressly delegated by the Board or Bylaws to some other officer or agent of the Corporation, or shall be required by law to be otherwise signed or executed. The President shall perform all duties incident to that office and shall serve also serve as Chief Operating Officer of the Corporation, as determined by the Board from time to time. If the Chief Executive Officer should be unable to serve, the President shall execute such duties of the Chief Executive Officer as may be appropriate and approved generally by the Board, pending return of the Chief Executive Officer to active service.

Section 4.7 <u>Vice Presidents</u>. From time to time, the Board may appoint one or more Vice-Presidents, with such duties as may be assigned to him or them.

Section 4.8 <u>The Secretary</u>. Unless the Board otherwise directs, the Secretary shall keep the minutes of the shareholders' and directors' meetings in one or more books provided for that purpose. The Secretary shall also see that all notices are duly given in accordance with the law and the provisions of the Bylaws; be custodian of the corporate records and the seal of the Corporation: affix the seal or direct its affixing to all documents, the execution of which on behalf of the Corporation is duly authorized; keep a list of the address of each shareholder; sign with the Chief Executive Officer certificates for shares of the Corporation, the issuance of which shall have been authorized by resolution of the Board; have charge of the stock transfer books of the Corporation; and perform all duties incident to the office of Secretary and such other duties as may be assigned by the Chief Executive Officer, the President or the Board.

Section 4.9 <u>The Treasurer and Chief Financial Officer</u>. Unless otherwise determined by the Board, the offices of Treasurer and Chief Financial Officer may be served by the same person. Neither the Treasurer nor the Chief Financial Officer shall be required to give a bond for the faithful discharge of their duties. The Treasurer/Chief Financial Officer shall have charge and custody of and be responsible for all funds and Securities (as defined below) of the Corporation, receive and give receipts for monies due and payable to the Corporation from any source whatsoever, deposit all such monies in the name of the Corporation in such banks, trust companies or other depositories as shall be selected in accordance with the provisions of the Bylaws, and perform all the duties as from time to time may be assigned by the Chief Executive Officer, the President, or the Board. Additionally, the Treasurer/Chief Financial Officer shall have the duties associated with the chief financial officer position under federal securities laws.

Section 4.10 <u>Other Officers</u>. The Board may elect (or delegate to the Chairman or to the President the right to appoint) such other officers and agents as may be necessary or desirable for the business of the Corporation. Such other officers shall include one or more assistant secretaries and treasurers who shall have the power and authority to act in place of the officer to whom they are elected or appointed as an assistant in the event of the officer's inability or unavailability to act in his official capacity.

Section 4.11 <u>Salaries</u>. The salaries of the executive officers shall be fixed by the Board and no officer shall be prevented from receiving such salary by reason of the fact that such officer is also a director of the Corporation. The salaries of the assistant officers shall be fixed by the Chief Executive Officer.

Section 4.12 <u>Standards of Conduct and Discharge of Duties</u>. Executive officers of the Corporation shall discharge their duties in good faith, with the care an ordinarily prudent person in a like position would exercise under similar circumstances and in a manner reasonably believed to be in, or at least not opposed to, the best interests of the Corporation. For the purposes of determining what is reasonably believed to be in, or not opposed to, the best interests of the Corporation, each executive officer shall consider the interests of the Corporation's shareholders, and in such officer's discretion, may consider the interests of the Corporation's employees, suppliers, creditors and customers, the economy of the state and nation, the impact of any action upon the communities in or near which the Corporation's facilities or operations are located, the long-term interests of the Corporation and its shareholders, including the possibility that those interests may be best served by the independence of the Corporation, and any other factors relevant to promoting or preserving public or community interests.

**Article V**

**CONTRACTS, LOANS, CHECKS AND DEPOSITS**

Section 5.1 <u>Contracts</u>. The Board may authorize any officer or officers, agent or agents, to enter into any contract on behalf of the Corporation and such authority may be general or confined to specific instances.

Section 5.2 <u>Checks, Drafts, Etc</u>. All checks, drafts or other orders for the payment of money, notes or other evidence of indebtedness, issued in the name of the Corporation, shall be signed by such officer or officers, agent or agents, of the Corporation and in such manner as shall from time to time be determined by the Board.

Section 5.3 <u>Deposits</u>. All funds of the Corporation not otherwise employed shall be deposited from time to time to the credit of the Corporation in such banks, trust companies or other depositories as the Board may select.

**Article VI**

**CERTIFICATES FOR SECURITIES**

**AND THEIR TRANSFER**

Section 6.1 <u>Certificates for Securities</u>. Certificates representing securities of the Corporation (the "Securities") shall be in such form as shall be determined by the Board. Subject to the discretion of the Board, certificates for Securities may state the name of the corporation, that it is organized under the laws of the State of Wyoming, the person to whom the Certificate is issued, and the number and class of shares and the designation of the series, if any, the Certificate represents. Each Certificate shall be signed by the Chief Executive Officer and by the Secretary. The signatures may be facsimiles or electronic.

A Certificate signed or impressed with the facsimile or digital signature of an officer, who ceases by death, resignation or otherwise to be an officer of the Corporation before the certificate is delivered by the Corporation, is valid as though signed by a duly elected, qualified and authorized officer.

The name of the person to whom the Securities represented by a Certificate are issued, the number of Securities, and date of issue, shall be entered on the Security transfer books of the Corporation. All Certificates surrendered to the Corporation for transfer shall be canceled and no new Certificate shall be issued until the former Certificate for a like number of shares shall have been surrendered and canceled, except that, in case of a lost, destroyed or mutilated Certificate, a new one may be issued therefor upon such terms and indemnity to the Corporation as the Board may prescribe.

This Section 6.1 shall not prohibit the Corporation from establishing a direct registration program or other reasonable mechanism for electronic registry of shares pursuant to the rules of the regulatory association with supervisory authority over the market on which the Corporation's Securities may be traded.

Section 6.2 <u>Transfer of Securities</u>. Transfer of Securities shall be made only on the security transfer books of the Corporation by the holder of record thereof, by the legal representative of the holder who shall furnish proper evidence of authority to transfer, or by an attorney authorized by a power of attorney, duly executed and filed with the Secretary of the Corporation, and a surrender for cancellation of the certificate for such shares. The person in whose name Securities stand on the books of the Corporation shall be deemed by the Corporation to be the owner thereof for all purposes; provided, however, that if a direct registration program or other mechanism is established under Section 6.1 above, the procedures therefor shall not require submission of a paper certificate.

**Article VII**

**FISCAL YEAR**

The fiscal year of the Corporation shall be determined by the Board.

**Article VIII**

**DIVIDENDS**

The Board may declare, and the Corporation may pay in cash, stock or other property, dividends on its outstanding shares in the manner and upon the terms and conditions provided by applicable law and the Articles.

**Article IX**

**SEAL**

The Board shall provide a corporate seal, circular in form, having inscribed thereon the corporate name, the state of incorporation and the word "Seal." The seal may be by facsimile, or engraved, embossed or printed.

**Article X**

**WAIVER OF NOTICE**

Whenever any notice is required to be given to any shareholder, director of the Corporation or member of a committee thereof under the provisions of these Bylaws or under the provisions of the Articles or under the provisions of the applicable laws of Wyoming, a waiver thereof in writing, signed by the person or persons entitled to such notice, whether before, at or after the time stated therein, shall be deemed equivalent to the giving of such notice.

**Article XI**

**INDEMNIFICATION**

Section 11.1 <u>General</u>. The Corporation shall indemnify to the fullest extent permitted by and in the manner permissible under the Wyoming Business Corporation Act, as amended from time to time (but, in the case of any such amendment, only to the extent that such amendment permits the Corporation to provide broader indemnification rights than said law permitted the Corporation to provide prior to such amendment), any person made, or threatened to be made, a party to any threatened, pending or completed action, suit, or proceeding, whether criminal, civil, administrative, or investigative, by reason of the fact that such person (a) is or was a director or officer of the Corporation or any predecessor of the Corporation or (b) served any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise as a director, officer, partner, trustee, employee or agent at the request of the Corporation or any predecessor of the Corporation; provided, however, that except as provided in Section 11.4, the Corporation shall indemnify any such person seeking indemnification in connection with a proceeding (or part thereof) initiated by such person only if such proceeding (or part thereof) was authorized in advance by the Board.

Section 11.2 <u>Advancement of Expenses</u>. The right to indemnification conferred in this Article XI shall be a contract right and shall include the right to be paid by the Corporation the expenses incurred in defending any such proceeding in advance of its final disposition, such advances to be paid by the Corporation within twenty (20) days after the receipt by the Corporation of a statement or statements from the claimant requesting such advance or advances from time to time; provided, however, that if required by the Wyoming Business Corporation Act, the payment of such expenses incurred by a director or officer in his or her capacity as a director or officer (and not in any other capacity in which service was or is rendered by such person while a director or officer, including, without limitation, service to an employee benefit plan) in advance of the final disposition of a proceeding, shall be made only upon delivery to the Corporation of an undertaking by or on behalf of such director or officer to repay all amounts so advanced if it shall ultimately be determined by a final judicial decision from which there is no right of appeal that such director or officer is not entitled to be indemnified under this Article XI or otherwise.

Section 11.3 <u>Procedure for Indemnification</u>. To obtain indemnification under this Article XI, a claimant shall submit to the Corporation a written request, including therein or therewith such documentation and information as is reasonably available to the claimant and is reasonably necessary to determine whether and to what extent the claimant is entitled to indemnification. Upon written request by a claimant for indemnification pursuant to the first sentence of this Section 11.3, a determination, if required by applicable law, with respect to the claimant's entitlement thereto shall be made as follows: (a) if requested by the claimant or if there are not at least two "qualified directors" (as defined in the Wyoming Business Corporation Act), by Independent Counsel (as hereinafter defined) to the extent permitted by law, or (b) by a majority vote of the qualified directors, even though less than a quorum, or by a majority vote of a committee of qualified directors designated by a majority vote of qualified directors, even though less than a quorum. If the determination cannot be made pursuant to the foregoing, the determination may be made in any other manner permitted under the Wyoming Business Corporation Act. If it is determined pursuant to this Section 11.3 that the claimant is entitled to indemnification, payment to the claimant shall be made within 10 days after such determination.

Section 11.4 <u>Certain Remedies</u>. If a claim under Section 11.1 is not paid in full by the Corporation within thirty (30) days after a written claim pursuant to Section 11.3 has been received by the Corporation, the claimant may at any time thereafter bring suit against the Corporation to recover the unpaid amount of the claim and, if successful in whole or in part, the claimant shall be entitled to be paid also the reasonable expense of prosecuting such claim. It shall be a defense to any such action (other than an action brought to enforce a claim for expenses incurred in defending any proceeding in advance of its final disposition where the required undertaking, if any, has been tendered to the Corporation) that the claimant has not met the standard of conduct which makes it permissible under the Wyoming Business Corporation Act for the Corporation to indemnify the claimant for the amount claimed, but the burden of proving such defense shall be on the Corporation. Neither the failure of the Corporation (including the Board, Independent Counsel or shareholders) to have made a determination prior to the commencement of such action that indemnification of the claimant is proper in the circumstances because he or she has met the applicable standard of conduct set forth in the Wyoming Business Corporation Act nor an actual determination by the Corporation (including the Board, Independent Counsel or shareholders) that the claimant has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that the claimant has not met the applicable standard of conduct.

Section 11.5 <u>Binding Effect</u>. If a determination shall have been made pursuant to Section 11.3 that the claimant is entitled to indemnification, the Corporation shall be bound by such determination in any judicial proceeding commenced pursuant to Section 11.4.

Section 11.6 <u>Validity of this Article</u>. The Corporation shall be precluded from asserting in any judicial proceeding commenced pursuant to Section 11.4 that the procedures and presumptions of this Article XI are not valid, binding and enforceable and shall stipulate in such proceeding that the Corporation is bound by all the provisions of this Article XI.

Section 11.7 <u>Non-exclusivity, etc</u>. The right to indemnification and to the advancement of expenses incurred in defending a proceeding in advance of its final disposition conferred in this Article XI shall not be exclusive of any other right which any person may have or hereafter acquire under any statute, provision of the Articles, Bylaws, agreement, vote of stockholders or qualified directors or otherwise. No repeal or modification of this Article XI shall in any way diminish or adversely affect the rights of any present or former director or officer of the Corporation or any predecessor thereof hereunder in respect of any occurrence or matter arising prior to any such repeal or modification.

Section 11.8 <u>Insurance</u>. The Corporation may maintain insurance, at its expense, to protect itself and any director, officer, employee or agent of the Corporation or another corporation, partnership, joint venture, trust or other enterprise against any expense, liability or loss, whether or not the Corporation would have the power to indemnify such person against such expense, liability or loss under the Wyoming Business Corporation Act.

Section 11.9 <u>Indemnification of Other Persons</u>. The Corporation may grant rights to indemnification, and rights to the advancement by the Corporation of expenses incurred in defending any proceeding in advance of its final disposition, to any present or former employee or agent of the Corporation or any predecessor of the Corporation to the fullest extent of the provisions of this Article XI with respect to the indemnification and advancement of expenses of directors and officers of the Corporation.

Section 11.10 <u>Definition</u>. For purposes of this Article XI, "Independent Counsel" means a law firm, a member of a law firm, or an independent practitioner that is experienced in matters of corporation law and shall include any such person who, under the applicable standards of professional conduct then prevailing, would not have a conflict of interest in representing either the Corporation or the claimant in an action to determine the claimant's rights under this Article XI. Independent Counsel shall be selected by the Board.

**Article XII**

**AMENDMENTS**

These Bylaws may be altered, amended, repealed or replaced by new bylaws by the Board at any regular or special meeting of the Board or by the majority vote of the Corporation's shareholders.

**Article XIII**

**UNIFORMITY OF INTERPRETATION**

**AND SEVERABILITY**

These Bylaws shall be so interpreted and construed as to conform to the Articles and the statutes of Wyoming or of any other state in which conformity may become necessary by reason of the qualification of the Corporation to do business in such foreign state, and where conflict between these Bylaws and the Articles or a federal or state statute, rule, regulation or other applicable law has arisen or shall arise, the Bylaws shall be considered to be modified to the extent, but only to the extent, conformity shall require. If any Bylaw provision or its application shall be deemed invalid by reason of the said nonconformity, the remainder of the Bylaws shall remain operable in that the provisions set forth in the Bylaws are severable.

## Exhibit 3.4

**Exhibit 3.4**

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| | | |
|:---|:---|:---|
| ![](cm250_ex3-4img01.jpg) | **Wyoming Secretary of State** |  |
| ![](cm250_ex3-4img01.jpg) | Herschler Building East, Suite 101 |  |
| ![](cm250_ex3-4img01.jpg) | 122 W 25th Street | For Office Use Only |
| ![](cm250_ex3-4img01.jpg) | Cheyenne, WY 82002-0020 |  |
| ![](cm250_ex3-4img01.jpg) | Ph. 307.777.7311 |  |
| ![](cm250_ex3-4img01.jpg) | Email: <u>Business@wyo.gov</u> |  |

---

**Profit Corporation**

**Articles of Amendment**

1. Corporation name:

*(Name must match exactly to the Secretary of State's records.)*

VOCODIA HOLDINGS CORP <br>  

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| | | |
|:---|:---|:---|
| 2. Article number(s) | V. | &nbsp;&nbsp;&nbsp;is amended as follows: |

---

***\**** ***See checklist below for article number information.***

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| |
|:---|
| The number, par value, and class of shares the profit corporation corporation will have the authority to issue are: |
| Number of Common Shares: 380,000,000 Common Par value: $0.0001 |
| Number of Preferred Stock: 20,000,000 Preferred Par value: $0.0001 |

---

3. If the amendment provides for an exchange, reclassification, or cancellation of issued shares, provisions for implementing the amendment if not contained in the amendment itself which may be made upon facts objectively ascertainable outside the articles of amendment.

4. The amendment was adopted on 08/29/2022 <br> *(Date – mm/dd/yyyy)*

P-Amendment – Revised June 2021

5. Approval of the amendment: *(Please check **<u>only one</u>** appropriate field to indicate the party approving the amendment.)*

&nbsp;&nbsp;&nbsp;**<u>Shares were *not* issued</u>** and the board of directors or incorporators have adopted the amendment.<br>

**<u>OR</u>**

&nbsp;&nbsp;&nbsp;**<u>Shares were issued</u>** and the board of directors have adopted the amendment *without shareholder approval,* in compliance with W.S. 17-16-1005.

**<u>OR</u>**

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| | |
|:---|:---|
| **✔** | &nbsp;&nbsp;&nbsp;**<u>Shares were issued</u>** and the board of directors have adopted the amendment *with shareholder approval,* in compliance with W.S. 17-16-1003. |

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| | | | |
|:---|:---|:---|:---|
| **Signature:** | /s/ Brian Podolak | **Date:** | 08/29/2022 |
| *(May be executed by Chairman of Board, President or another of its officers.)* | *(May be executed by Chairman of Board, President or another of its officers.)* |  | *(mm/dd/yyyy)* |

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Print Name: Brian Podolak Contact Person: Jason E. Perlman, Esq.

Title: President Daytime Phone Number: 954-966-7117

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| | |
|:---|:---|
| Email: | corporate@pbylaw.com |
| *(**An email address is required.** Email(s) provided will receive important reminders, notices and filing evidence.)* | *(**An email address is required.** Email(s) provided will receive important reminders, notices and filing evidence.)* |

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<u>Checklist</u>

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| |
|:---|
| &nbsp;&nbsp;&nbsp;***Filing Fee: $60.00*** Make check or money order payable to Wyoming Secretary of State. |
| &nbsp;&nbsp;&nbsp;**Processing time is up to 15 business days** following the date of receipt in our office. |
| &nbsp;&nbsp;&nbsp;\*Refer to original articles of incorporation to determine the specific article number being amended or use the next number in sequence if you are adding an article. ***Article number(s) is not the same as the filing ID number.*** |
| &nbsp;&nbsp;&nbsp;Please mail with payment to the address at the top of this form. **This form cannot be accepted via email.** |
| &nbsp;&nbsp;&nbsp;Please review the form prior to submission. **The Secretary of State's Office is unable to process incomplete forms.** |

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P-Amendment – Revised June 2021

## Exhibit 3.5

**Exhibit 3.5**

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| | | |
|:---|:---|:---|
| ![](cm250_ex3-5img01.jpg) | **Wyoming Secretary of State** |  |
| ![](cm250_ex3-5img01.jpg) | Herschler Building East, Suite 101 |  |
| ![](cm250_ex3-5img01.jpg) | 122 W 25th Street | **WY Secretary of State** |
| ![](cm250_ex3-5img01.jpg) | Cheyenne, WY 82002-0020 | **FILED: 09/01/2021 09:56 AM** |
| ![](cm250_ex3-5img01.jpg) | Ph. 307.777.7311 | **Original ID: 2021-001000290** |
| ![](cm250_ex3-5img01.jpg) | Email: Business@wyo.gov | **Amendment ID: 2021-003306456** |

---

**Profit Corporation**

**Articles of Amendment**

1. Corporation name:

*(Name must match exactly to the Secretary of State's records.)*

Vocodia Holdings Corp <br>  

---

| | | |
|:---|:---|:---|
| 2. Article number(s) | V | &nbsp;&nbsp;&nbsp;is amended as follows: |

---

***\**** ***See checklist below for article number information.***

---

| |
|:---|
| The Corporation is authorized to issue the following number of shares, which shall be divided into two classes of stock and have the rights referenced below: |
| Common Stock: 96,000,000 with a par value of $0.0001, with each share of Common Stock having 1 vote per share. |
| Preferred Stock: 4,000,000 with a par value of $0.0001, with each share of Preferred Stock having 1,000 votes per share. |

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3. If the amendment provides for an exchange, reclassification, or cancellation of issued shares, provisions for implementing the amendment if not contained in the amendment itself which may be made upon facts objectively ascertainable outside the articles of amendment.

4. The amendment was adopted on 05/02/2021 <br> *(Date - mm/dd/yyyy)*

![](cm250_ex3-5img02.jpg)

5. Approval of the amendment: *(Please check **<u>only one</u>** appropriate field to indicate the party approving the amendment.)*

&nbsp;&nbsp;&nbsp;**<u>Shares were *not* issued</u>** and the board of directors or incorporators have adopted the amendment.<br>

**<u>OR</u>**

&nbsp;&nbsp;&nbsp;**<u>Shares were issued</u>** and the board of directors have adopted the amendment *without shareholder approval,* in compliance with W.S. 17-16-1005.

**<u>OR</u>**

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| | |
|:---|:---|
| **✔** | &nbsp;&nbsp;&nbsp;**<u>Shares were issued</u>** and the board of directors have adopted the amendment *with shareholder approval,* in compliance with W.S. 17-16-1003. |

---

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| | | | |
|:---|:---|:---|:---|
| **Signature:** | /s/ Brian Podolak | **Date:** | 8/6/2021 |
| *(May be executed by Chairman of Board, President or another of its officers.)* | *(May be executed by Chairman of Board, President or another of its officers.)* |  | *(mm/dd/yyyy)* |

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Print Name: Brian Podolak Contact Person: Brian Podolak

Title: President Daytime Phone Number: 561-484-5234

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|:---|:---|
| Email: | brian@vocodia.com |
| *(**An email address is required.** Email(s) provided will receive important reminders, notices and filing evidence.)* | *(**An email address is required.** Email(s) provided will receive important reminders, notices and filing evidence.)* |

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<u>Checklist</u>

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| &nbsp;&nbsp;&nbsp;***Filing Fee: $60.00*** Make check or money order payable to Wyoming Secretary of State. |
| &nbsp;&nbsp;&nbsp;**Processing time is up to 15 business days** following the date of receipt in our office. |
| &nbsp;&nbsp;&nbsp;\*Refer to original articles of incorporation to determine the specific article number being amended or use the next number in sequence if you are adding an article. ***Article number(s) is not the same as the filing ID number.*** |
| &nbsp;&nbsp;&nbsp;Please mail with payment to the address at the top of this form. **This form cannot be accepted via email.** |
| &nbsp;&nbsp;&nbsp;Please review the form prior to submission. **The Secretary of State's Office is unable to process incomplete forms.** |

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## Exhibit 4.1

**Exhibit 4.1**

**<u>Representative</u>**'**<u>s Warrant Agreement</u>**

THE REGISTERED HOLDER OF THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT EXCEPT AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE WARRANT OR CAUSE IT TO BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT, OR CALL TRANSACTION THAT WOULD RESULT IN THE EFFECTIVE ECONOMIC DISPOSITION OF THE PURCHASE WARRANT BY ANY PERSON FOR A PERIOD OF ONE YEAR FOLLOWING THE COMMENCEMENT DATE (DEFINED BELOW) TO ANYONE OTHER THAN (I) ALEXANDER CAPITAL, L.P. OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF ALEXANDER CAPITAL, L.P. OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER AND IN ACCORDANCE WITH FINRA RULE 5110(E)(2).

THIS PURCHASE WARRANT IS NOT EXERCISABLE PRIOR TO [●], 2023. VOID AFTER 5:00 P.M., EASTERN TIME, [●], 2028.

**<u>COMMON STOCK PURCHASE WARRANT</u>**

For the Purchase of Up To [●] Shares of Common Stock<br> of

VOCODIA HOLDINGS CORP

THIS CERTIFIES THAT, in consideration of funds duly paid by or on behalf of Alexander Capital, L.P. ("**Holder**"), as registered owner of this Common Stock Purchase Warrant (this "**Purchase Warrant**"), to Vocodia Holdings Corp, a Wyoming corporation (the "**Company**"), Holder is entitled, at any time or from time to time from [●], 2023, (the "**Commencement Date**"), and at or before 5:00 p.m., Eastern time, [●] , 2028 (the "**Expiration Date**"), but not thereafter, to subscribe for, purchase and receive, in whole or in part, up to [●] shares (the "**Shares**") of common stock of the Company, par value $0.0001 per share (the "**Common Stock**"), subject to adjustment as provided in Section 5 hereof. If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Warrant may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate this Purchase Warrant. This Purchase Warrant is initially exercisable at **$**[●] per Share; <u>provided</u>, <u>however</u>, that upon the occurrence of any of the events specified in Section 5 hereof, the rights granted by this Purchase Warrant, including the exercise price per Share and the number of Shares to be received upon such exercise, shall be adjusted as therein specified. This Purchase Warrant is being issued pursuant to the certain Underwriting Agreement (the "**Underwriting Agreement**"), dated [●], 2023, by and among the Company, the Representative and other underwriters named therein, providing for the public offering (the "**Offering**") of shares of Common Stock. The term "**Exercise Price**" shall mean the initial exercise price or the adjusted exercise price, as applicable. Initially capitalized terms not otherwise defined herein shall have the meanings given to those terms in the Underwriting Agreement.

1. <u>Exercise</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 *<u>Exercise Form</u>*. In order to exercise this Purchase Warrant, the exercise form attached hereto (the "**Notice of Exercise**") must be duly executed and completed and delivered to the Company, together with this Purchase Warrant and payment of the Exercise Price for the Shares being purchased payable in cash by wire transfer of immediately available funds to an account designated by the Company or by certified check or official bank check. If the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern time, on the Expiration Date, this Purchase Warrant shall become and be void without further force or effect, and all rights represented hereby shall cease and expire.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 *<u>Cashless Exercise</u>*. If at any time after one hundred eighty (180) days after the Commencement Date there is no effective registration statement registering or no current prospectus available for the resale of the Shares by the Holder, then in lieu of exercising this Purchase Warrant by payment of cash or check payable to the order of the Company pursuant to Section 1.1 above, Holder may elect to receive the number of Shares equal to the value of this Purchase Warrant (or the portion thereof being exercised), by surrender of this Purchase Warrant to the Company, together with the exercise form attached hereto, in which event the Company shall issue to Holder, Shares in accordance with the following formula:

X = <u>Y(A-B)</u> <br> A

Where,

X = The number of Shares to be issued to Holder;

Y = The number of Shares for which the Purchase Warrant is being exercised;

A = The fair market value of one Share; and

B = The Exercise Price.

For purposes of this Section 1.2, the fair market value of a Share is defined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if the Company's Common Stock is traded on a securities exchange, the fair market value shall be deemed to be the closing price on such exchange on the Trading Day (as defined below) immediately prior to the date the exercise form is submitted to the Company in connection with the exercise of the Purchase Warrant; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if the Company's Common Stock is actively traded over-the-counter, the fair market value shall be deemed to be the closing bid price on the Trading Day immediately prior to the date the exercise form is submitted to the Company in connection with the exercise of the Purchase Warrant; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if there is no active public market, the value shall be the fair market value thereof, as determined in good faith by the Company's Board of Directors.

As used herein and below, "**Trading Day**" means a day on which the principal Trading Market or if applicable, the OTCQB or OTCQX Markets operated by OTC Markets Group, Inc., or any similar over the counter market is open for trading; and "**Trading Market**" means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange or any successors to any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 *<u>Legend</u>*. Each certificate for the securities purchased under this Purchase Warrant shall bear a legend substantially in the form as follows unless such securities have been registered under the Securities Act of 1933, as amended (the "**Securities Act**"):

"The securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (the "**Securities Act**"), or applicable state law. Neither the securities nor any interest therein may be offered for sale, sold or otherwise transferred except pursuant to an effective registration statement under the Securities Act, or pursuant to an exemption from registration under the Securities Act and applicable state law which, in the opinion of counsel to the Company, is available."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 *<u>No Obligation to Net Cash Settle</u>*. Notwithstanding anything to the contrary contained in this Purchase Warrant, in no event will the Company be required to net cash settle the exercise of the Purchase Warrant. The holder of the Purchase Warrant will not be entitled to exercise the purchase option unless it exercises such Purchase Warrant pursuant to the cashless exercise right or a registration statement is effective, or an exemption from the registration requirements is available at such time and, if the Holder is not able to exercise the Purchase Warrant, the Purchase Warrant will expire worthless.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 *<u>Mechanics of Exercise</u>*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Delivery of Shares Upon Exercise</u>. The Company shall cause the Shares purchased hereunder to be transmitted by Securities Transfer Corporation (the "**Transfer Agent**") to the Holder by crediting the account of the Holder's or its designee's balance account with The Depository Trust Company through its Deposit or Withdrawal at Custodian system ("**DWAC**") if the Company is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the Shares to or resale of the Shares by the Holder or (B) the Shares are eligible for resale by the Holder without volume or manner-of-sale limitations pursuant to Rule 144 (assuming cashless exercise of the Purchase Warrants), and otherwise by physical delivery of a certificate, registered in the Company's share register in the name of the Holder or its designee, for the number of Shares to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise by the date that is the earliest of (i) two (2) Trading Days after the delivery to the Company of the Notice of Exercise, provided that payment of the aggregate Exercise Price (other than in the instance of a cashless exercise) is received by the Company by such date, (ii) one (1) Trading Day after delivery of the aggregate Exercise Price to the Company and (iii) the number of Trading Days comprising the Standard Settlement Period (as defined below) after the delivery to the Company of the Notice of Exercise (such date, the "**Warrant Share Delivery Date**"). Upon delivery of the Notice of Exercise, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Shares with respect to which this Purchase Warrant has been exercised, irrespective of the date of delivery of the Shares, provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period following delivery of the Notice of Exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Purchase Warrant remains outstanding and exercisable. As used herein, "**Standard Settlement Period**" means the standard settlement period, expressed in a number of Trading Days, on the Company's primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Delivery of New Warrants Upon Exercise</u>. If this Purchase Warrant shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Purchase Warrant certificate, at the time of delivery of the Shares, deliver to the Holder a new Purchase Warrant evidencing the rights of the Holder to purchase the unpurchased Shares called for by this Purchase Warrant, which new Purchase Warrant shall in all other respects be identical with this Purchase Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Rescission Rights</u>. If the Company fails to cause the Transfer Agent to transmit to the Holder the Shares pursuant to Section 1.5(i) hereof by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <u>Compensation for Buy-In on Failure to Timely Deliver Shares Upon Exercise</u>. In addition to any other rights available to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Shares in accordance with the provisions of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date (other than any such failure that is solely due to any action or inaction by the Holder with respect to such exercise), and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder's brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Shares which the Holder anticipated receiving upon such exercise (a "**Buy-In**"), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder's total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Purchase Warrant and equivalent number of Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder's right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company's failure to timely deliver shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>No Fractional Shares or Scrip</u>. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Purchase Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) <u>Charges, Taxes and Expenses</u>. Issuance of Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such Shares, all of which taxes and expenses shall be paid by the Company, and such Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; <u>provided</u>, <u>however</u>, that in the event that Shares are to be issued in a name other than the name of the Holder, this Purchase Warrant when surrendered for exercise shall be accompanied by the assignment form attached hereto (the "**Assignment Form**") duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) <u>Closing of Books</u>. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Purchase Warrant, pursuant to the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 *<u>Holder</u>*'*<u>s Exercise Limitations</u>*. The Company shall not effect any exercise of this Purchase Warrant, and a Holder shall not have the right to exercise any portion of this Purchase Warrant, pursuant to Section 1 hereof or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder's Affiliates (as defined below), and any other Persons (as defined below) acting as a group together with the Holder or any of the Holder's Affiliates (such Persons, "**Attribution Parties**")), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of this Purchase Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Purchase Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other Common Stock Equivalents (as defined below)) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 1.6, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the "**Exchange Act**") and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 1.6 applies, the determination of whether this Purchase Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Purchase Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder's determination of whether this Purchase Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Purchase Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 1.6, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company's most recent periodic or annual report filed with the U.S. Securities and Exchange Commission (the "**Commission**"), as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within one Trading Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Purchase Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The "**Beneficial Ownership Limitation**" shall be 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Purchase Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 1.6, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Purchase Warrant held by the Holder and the provisions of this Section 1.6 shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 1.6 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Purchase Warrant. As used herein, "**Affiliate**" means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act; "**Person**" means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

2. <u>Transfer</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 *<u>General Restrictions</u>*. The registered Holder of this Purchase Warrant agrees by his, her or its acceptance hereof, that such Holder will not: (a) sell, transfer, assign, pledge or hypothecate this Purchase Warrant for a period of one year following the Commencement Date to anyone other than: (i) Alexander Capital, L.P. ("**Alexander Capital**") or another underwriter or a selected dealer participating in the Offering, or (ii) a bona fide officer or partner of Alexander Capital or of any such underwriter or selected dealer, in each case in accordance with FINRA Rule 5110(e)(1), or (b) cause this Purchase Warrant or the securities issuable hereunder to be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of this Purchase Warrant or the securities hereunder, except as provided for in FINRA Rule 5110(e)(2). On and or after the Commencement Date, or the date on which this Purchase Warrant was initially issued by the Company, as applicable, transfers of the Purchase Warrant and/or the underlying Shares to others may be made subject to compliance with or exemptions from applicable securities laws, including Rule 144 promulgated under the Securities Act. In order to make any permitted assignment, the Holder must deliver to the Company the Assignment Form duly executed and completed, together with this Purchase Warrant and payment of all transfer taxes, if any, payable in connection therewith. The Company shall within five (5) Business Days transfer this Purchase Warrant on the books of the Company and shall execute and deliver a new purchase warrants or purchase warrants of like tenor to the appropriate assignee(s) expressly evidencing the right to purchase the aggregate number of Shares purchasable hereunder or such portion of such number as shall be contemplated by any such assignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 *<u>Restrictions Imposed by the Securities Act</u>*. The securities evidenced by this Purchase Warrant shall not be transferred unless and until: (i) the Company has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption from registration under the Securities Act and applicable state securities laws, the availability of which is established to the reasonable satisfaction of the Company (the Company hereby agreeing that the opinion of Sullivan & Worcester LLP shall be deemed satisfactory evidence of the availability of an exemption), or (ii) a registration statement or a post-effective amendment to such registration statement relating to the offer and sale of such securities has been filed by the Company and declared effective by the Commission and compliance with applicable state securities law has been established.

3. <u>Registration Rights</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 "*<u>Piggy-Back</u>*" *<u>Registration</u>*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1 <u>Grant of Right</u>. The Holder, along with the holders of all of the other Representative's Warrants (as such term is defined in the Underwriting Agreement) shall have the right, for a period of no more than seven (7) years after the Commencement Date in accordance with FINRA Rule 5110(g)(8)(D), to include any portion of the Shares underlying this Purchase Warrant and the shares of Common Stock underlying all of the other Representative's Warrants (collectively, the "**Registrable Securities**") as part of any other registration of securities filed by the Company (other than in connection with a transaction contemplated by Rule 145(a) promulgated under the Securities Act or pursuant to Form S-8 or any equivalent form); <u>provided</u>, <u>however</u>, that if, solely in connection with any primary underwritten public offering for the account of the Company, the managing underwriter(s) thereof shall, in its reasonable discretion, impose a limitation on the number of shares of Common Stock which may be included in the registration statement because, in such underwriter(s)' judgment, marketing or other factors dictate such limitation is necessary to facilitate public distribution, then the Company shall be obligated to include in such registration statement only such limited portion of the Registrable Securities with respect to which the Holder and the holders of the other Representative's Warrants have requested inclusion thereunder as the underwriter shall reasonably permit. Any exclusion of Registrable Securities shall be made pro rata among the Holder and the holders of the other Representative's Warrants seeking to include Registrable Securities in proportion to the number of Registrable Securities sought to be included by the holder and the holders of the other Representative's Warrants; <u>provided</u>, <u>however</u>, that the Company shall not exclude any Registrable Securities unless the Company has first excluded all outstanding securities, the holders of which are not entitled to inclusion of such securities in such registration statement or are not entitled to pro rata inclusion with the Registrable Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.2 <u>Terms</u>. The Company shall bear all fees and expenses attendant to registering the Registrable Securities pursuant to Section 3.1.1 hereof, but the Holder and the holders of the other Representative's Warrants shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holder and the holders of the other Representative Warrants to represent them in connection with the sale of the Registrable Securities. In the event of such a proposed registration, the Company shall furnish the then holders of outstanding Registrable Securities with not less than thirty (30) days written notice prior to the proposed date of filing of such registration statement. Such notice to such holders shall continue to be given for each registration statement filed by the Company until such time as all of the Registrable Securities have been sold by the Holder and the holders of the other Representative Warrants. The holders of the Registrable Securities shall exercise the "piggy-back" rights provided for herein by giving written notice within ten (10) days of the receipt of the Company's notice of its intention to file a registration statement. Except as otherwise provided in this Purchase Warrant, there shall be no limit on the number of times the Holder may request registration under this Section 3.1.2; <u>provided</u>, <u>however</u>, that such registration rights shall terminate upon on the seventh anniversary of the Commencement Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 *<u>General Terms</u>*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.1 <u>Indemnification</u>. The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act, against all loss, claim, damage, expense or liability (including all reasonable attorneys' fees and other expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which any of them may become subject under the Securities Act, the Exchange Act or otherwise, arising from such registration statement but only to the same extent and with the same effect as the provisions pursuant to which the Company has agreed to indemnify the Underwriters contained in Section 5.1 of the Underwriting Agreement. The Holder(s) of the Registrable Securities to be sold pursuant to such registration statement, and their successors and assigns, shall severally, and not jointly, indemnify the Company and its affiliates, against all loss, claim, damage, expense or liability (including all reasonable attorneys' fees and other expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they may become subject under the Securities Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders, or their successors or assigns, in writing, for specific inclusion in such registration statement to the same extent and with the same effect as the provisions contained in Section 5.2 of the Underwriting Agreement pursuant to which the Underwriters have agreed to indemnify the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.2 <u>Exercise of Purchase Warrant</u>. Nothing contained in this Purchase Warrant shall be construed as requiring the Holder to exercise this Purchase Warrant prior to or after the initial filing of any registration statement or the effectiveness thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.3 <u>Documents Delivered to Holders</u>. The Company shall furnish to each Holder participating in any underwritten offerings and to each underwriter of any such offering, a signed counterpart, addressed to such Holder and underwriter, of: (i) an opinion of counsel to the Company, dated the effective date of such registration statement (and an opinion dated the date of the closing under any underwriting agreement related thereto), and (ii) a "cold comfort" letter dated the effective date of such registration statement (and a letter dated the date of the closing under the underwriting agreement) signed by the independent registered public accounting firm which has issued a report on the Company's financial statements included in such registration statement, in each case covering substantially the same matters with respect to such registration statement (and the prospectus included therein) and, in the case of such accountants' letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer's counsel and in accountants' letters delivered to underwriters in underwritten public offerings of securities. The Company shall also deliver promptly to each Holder participating in the underwritten offering requesting the correspondence and memoranda described below and to the managing underwriter copies of all correspondence between the Commission and the Company, its counsel or auditors and all memoranda relating to discussions with the Commission or its staff with respect to the registration statement and permit each Holder and underwriter to do such investigation, upon reasonable advance notice, with respect to information contained in or omitted from the registration statement as it deems reasonably necessary to comply with applicable securities laws or rules of FINRA. Such investigation shall include access to books, records and properties and opportunities to discuss the business of the Company with its officers and independent auditors, all to such reasonable extent and at such reasonable times as any such Holder shall reasonably request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.4 <u>Underwriting Agreement</u>. In the event the Company shall enter into an underwriting agreement with any managing underwriter(s), if any, selected by the Company with respect to the Registrable Securities that are being registered pursuant to this Section 3, which managing underwriter shall be reasonably satisfactory to the holders of at least 51% of the Registerable Securities, such agreement shall be reasonably satisfactory in form and substance to the Company and such managing underwriters, and shall contain such representations, warranties and covenants by the Company and such other terms as are customarily contained in agreements of that type used by the managing underwriter. The Holders shall be parties to any underwriting agreement relating to an underwritten sale of their Registrable Securities and may, at their option, require that any or all the representations, warranties and covenants of the Company to or for the benefit of such underwriters shall also be made to and for the benefit of such Holders. Such Holders shall not be required to make any representations or warranties to or agreements with the Company or the underwriters except as they may relate to such Holders, their Shares and their intended methods of distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.5 <u>Documents to be Delivered by Holder(s)</u>. Each of the Holder(s) participating in any of the foregoing offerings shall furnish to the Company a completed and executed questionnaire provided by the Company requesting information customarily sought of selling security holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.6 <u>Damages</u>. Should the registration or the effectiveness thereof required by Section 3.1 hereof be delayed by the Company or the Company otherwise fails to comply with such provisions, the Holder(s) shall, in addition to any other legal or other relief available to the Holder(s), be entitled to seek specific performance or other equitable (including injunctive) relief against the threatened breach of such provisions or the continuation of any such breach, without the necessity of proving actual damages and without the necessity of posting bond or other security.

4. <u>New Purchase Warrants to be Issued</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 *<u>Partial Exercise or Transfer</u>*. Subject to the restrictions in Section 2 hereof, this Purchase Warrant may be exercised or assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Warrant for cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price and/or transfer tax if exercised pursuant to Section 1.1 hereof, the Company shall cause to be delivered to the Holder without charge a new Purchase Warrant of like tenor to this Purchase Warrant in the name of the Holder evidencing the right of the Holder to purchase the number of Shares purchasable hereunder as to which this Purchase Warrant has not been exercised or assigned.

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

5. <u>Adjustments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 *<u>Adjustments to Exercise Price and Number of Securities</u>*. The Exercise Price and the number of Shares underlying this Purchase Warrant shall be subject to adjustment from time to time as hereinafter set forth:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.1 <u>Share Dividends; Stock Splits</u>. If, after the date hereof, and subject to the provisions of Section 5.3 below, the number of outstanding Shares is increased by a stock dividend payable in Shares or by a stock split of shares of Common Stock or other capital stock of the Company, or other similar event, then, on the effective day thereof, the number of Shares purchasable hereunder shall be increased in proportion to such increase in outstanding shares, and the Exercise Price shall be proportionately decreased.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.2 <u>Aggregation of Shares</u>. If, after the date hereof, and subject to the provisions of Section 5.3 below, the number of outstanding Shares is decreased by a consolidation, combination or reclassification of shares of Common Stock or other capital stock of the Company, or other similar event, then, on the effective date thereof, the number of Shares purchasable hereunder shall be decreased in proportion to such decrease in outstanding shares, and the Exercise Price shall be proportionately increased.

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

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

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

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

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

7. <u>Certain Notice Requirements</u>.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 *<u>Notice of Change in Exercise Price</u>*. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to Section 5 hereof, send notice to the Holders of such event and change ("**Price Notice**"). The Price Notice shall describe the event causing the change and the method of calculating same and shall be certified as being true and accurate by the Company's Chief Financial Officer.

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

If to the Holder:

Alexander Capital, L.P.

17 State Street, 5th Floor

New York, NY 10004

Attention: Jonathan Gazdak, Managing Director

Email: jgazdak@alexandercapitallp.com

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

Sullivan & Worcester LLP<br> 1633 Broadway<br> New York, NY 10019<br> Attn: David E. Danovitch, Esq.<br> Email: ddanovitch@sullivanlaw.com

If to the Company:

Vocodia Holdings Corp

6401 Congress Ave, Suite #160

Boca Raton, FL 33487<br> Attention: Brian Podolak, Chief Executive Officer<br> Email: brian@vocodia.com

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

Carmel, Milazzo & Feil LLP

55 West 39th Street, 18th Floor

New York, NY 10018

Attention: Ross Carmel, Esq.<br> Email: rcarmel@cmfllp.com

8. <u>Miscellaneous</u>.

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

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

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

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

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

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

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

[***Signature Page Follows***]

IN WITNESS WHEREOF, the Company has caused this Purchase Warrant to be signed by its duly authorized officer as of the [●]th day of [●], 2023.

---

| | |
|:---|:---|
| VOCODIA HOLDINGS CORP | VOCODIA HOLDINGS CORP |
| By: |  |
|  | Name: Brian Podolak |
|  | Title: Chief Executive Officer |

---

[*Form to be used to exercise Purchase Warrant*]

Date: _______________, 20___

The undersigned hereby elects irrevocably to exercise the Purchase Warrant for shares of common stock, par value $0.0001 per share (the "**Shares**"), of Vocodia Holdings Corp, a Wyoming corporation (the "**Company**"), and hereby makes payment of $<u> </u>(at the rate of $[●] per Share) in payment of the Exercise Price pursuant thereto. Please issue the Shares as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a new Purchase Warrant representing the number of Shares for which this Purchase Warrant has not been exercised.

Or

The undersigned hereby elects irrevocably to convert its right to purchase ___ Shares of the Company under the Purchase Warrant for ______ Shares, as determined in accordance with the following formula:

X = <u>Y(A-B)</u> <br> A

Where,

X = The number of Shares to be issued to Holder;

Y = The number of Shares for which the Purchase Warrant is being exercised;

A = The fair market value of one Share which is equal to $_____; and

B = The Exercise Price which is equal to $______ per share

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

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

Signature

Signature Guaranteed

[*Form to be used to assign Purchase Warrant*]

ASSIGNMENT

(To be executed by the registered Holder to effect a transfer of the within Purchase Warrant):

FOR VALUE RECEIVED, __________________ does hereby sell, assign and transfer unto

---

| | |
|:---|:---|
| Name: |  |
|  | (Please Print) |
| Address: |  |
|  | (Please Print) |
| Phone Number: | |
| Email Address: | |

---

the right to purchase shares of common stock, par value $0.0001 per share, of Vocodia Holdings Corp, a Wyoming corporation (the "**Company**"), evidenced by the Purchase Warrant and does hereby authorize the Company to transfer such right to _________ on the books of the Company.

Dated: __________, 20__

Signature

Signature Guaranteed

NOTICE: The signature to this form must correspond with the name as written upon the face of the within Purchase Warrant without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership on a registered national securities exchange.

## Exhibit 4.2

**Exhibit 4.2**![](cm250_ex4-2img01.jpg)

**VOCODIA HOLDINGS CORP.**

**A Wyoming Corporation**

**SUBSCRIPTION AGREEMENT**

for

**Private Offering**

**2,500,000 Shares**

of

**Vocodia Holdings Corp** 

**Common Stock**

for

**$5,000,000**

Vocodia Holdings Corp.

Attn: Brian Podolak, President

6401 Congress Ave.

Suite 160

Boca Raton, Florida 33487

Dear Mr. Podolak:

In connection with an equity offering to raise up to Five Million Dollars ($5,000,000) of cash (the "<u>Offering</u>") by Vocodia Holdings Corp., a Wyoming corporation (the "Company"), which amount may be increased or decreased in the Company's sole discretion, the undersigned hereby agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.** **<u>Subscription and Payment</u>**. Subject to the terms of this Subscription Agreement (this "<u>Agreement</u>"), the undersigned investor (the "<u>Subscriber</u>") hereby subscribes for and agrees to purchase the amount of shares of common stock (the "<u>Shares</u>") of the Company set forth on the signature page to this Agreement. Attached to each Share is one (1) Warrant (the "<u>Warrants</u>" and together with the Shares, the "<u>Securities</u>"). Each Warrant entitles the holder thereof to purchase One (1) Share from the Company for Four Dollars (US $4.00) at any time until the expiration of the Warrants issued in this Offering. The Warrants will expire at midnight eastern standard time of the two year anniversary of the closing of this Offering. At any time prior to the expiration of the Warrants, the Company may, for any reason, call the Warrants by notifying the holders thereof (the "<u>Call Notice</u>"). Upon receipt of a Call Notice, the holder of a Warrant shall have ten (10) business days to exercise the Warrant. There is no penalty for non-exercise of the Warrants upon receipt of the Call Notice; however, failure to exercise the Warrant within the aforementioned time period shall result in the expiration of the Warrant and all rights associated therewith. The Offering will remain open for subscription until September 28<sup>th</sup>, 2021, unless otherwise extended in the Company's sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.** **<u>Acceptance or Rejection of Subscription</u>**. Pursuant to the terms of this Agreement, the Company is proposing to offer and sell the Securities up to a maximum principal amount of Five Million Dollars ($5,000,000), which amount may be increased or decreased in the Company's sole discretion, to accredited investors at a price per Share of Two Dollars ($2.00), subject to the Subscriber agreeing to representations and warranties set forth herein and approval by the Company, in its sole discretion (the "Investment"). The minimum Investment that the Company will accept is for Twenty-Five Thousand Dollars ($25,000); provided, however that the Company shall have the right, in its sole discretion, to accept an Investment that is less than Twenty-Five Thousand Dollars ($25,000). There is no minimum amount of Shares that must be sold and there will be no escrow of subscriptions; therefore, the funds from the Investment may be used by the Company immediately. This subscription for the Securities is irrevocable and may not be withdrawn by the Subscriber (unless afforded such right by law), but may be rejected in whole or in part by the Company for any or no reason in the Company's sole and absolute discretion. The Company shall notify the Subscriber within five (5) days following the date on which this subscription is accepted or rejected. If the Subscriber's subscription is accepted, the Company shall notify Subscriber and Subscriber shall wire to the Company immediately available funds in an amount equal to the amount reflected on the signature page of this Agreement within two (2) business days from receipt of notice of acceptance. Further, upon acceptance of the Subscriber's subscription, this Agreement shall be deemed to have been executed and delivered to the Company and will become a binding contract between Subscriber and the Company shall revise its books and record to evidence ownership of the applicable number of Shares, unless a stock certificate is otherwise provided to evidence the Subscriber's ownership of the Shares. If this subscription is rejected, neither the Subscriber nor the Company will have any obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.** **<u>Subscriber Representations</u>**. To induce the Company to issue the applicable shares to the Subscriber, and with the understanding that the Company is relying on the following representations and warranties, the Subscriber hereby makes the following representations and warranties to the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Subscriber Information</u>. Any information furnished by the Subscriber pursuant to this Agreement, including with respect to the Subscriber's financial position, background and investment experience, is true, correct and complete in all material respects as of the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Resident</u>. The Subscriber: (i) if an individual, is a United States citizen and a resident of the state set forth on the signature page for individuals attached hereto; and (ii) if an entity, is duly organized, validly existing and in good standing under the laws of the state set forth on the signature page for entities attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Securities Not Registered Under Securities Laws</u>. The Subscriber understands that the Investment made herein is being made pursuant to an exemption from registration under the Securities Act of 1933, as amended (the "<u>Securities Act</u>"), for limited and non-public offerings under Regulation D of the Securities Act, and pursuant to similar exemptions under certain state securities laws. Consequently, the terms of the Investment have not been subject to review or comment by the U.S. Securities and Exchange Commission ("<u>SEC</u>"), the securities administrator of any state, or any other regulatory authority. Further, Subscriber is purchasing the Securities without being furnished any offering literature or prospectus other than as referenced herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Securities Acquired for Own Account</u>. The Subscriber is acquiring the Securities for the Subscriber's own account for investment and not with a view to, or for sale in connection with, any distribution thereof, nor with any present intention of distributing or selling the same.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Restrictions on Transfer</u>. The Subscriber will not make any resales or other dispositions of the Securities, by any means, including by way of any "general solicitation" or "general advertisement." The Subscriber understands that the Subscriber will not be able to transfer or make any other disposition of the Securities without the prior written approval of the Company, unless such transfer or disposition is registered or qualified under all applicable federal and state securities laws, or unless the Subscriber has first delivered to the applicable Company a written opinion of qualified counsel, satisfactory to the Company, that such registration or qualification is not required. The Subscriber understands that any certificate representing the Securities will bear the following legend evidencing the restrictions on transfer described therein:

"THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "<u>SECURITIES ACT</u>") OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS COVERING SUCH SECURITIES OR THE SALE IS MADE IN ACCORDANCE WITH AN EXEMPTION UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS, AND THE COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF THESE SECURITIES REASONABLY SATISFACTORY TO THE COMPANY STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Access to Information</u>. Any and all information relating to the Company requested by the Subscriber has been made available to the Subscriber by the Company, and the Subscriber has had an opportunity to question and receive satisfactory answers from the officers of the Company in connection with the Subscriber's proposed purchase of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Experience: Ability to Risk Loss</u>. The Subscriber has such knowledge and experience in financial and business matters that the Subscriber is capable of evaluating the merits and risks of this Investment. The Subscriber understands that an investment in the Securities involves a high-level of risk. The Subscriber is capable of bearing all of the economic risks and burdens of this Investment, including the possible loss of all funds invested by the Subscriber. The Subscriber has no need for liquidity in this Investment. The Subscriber has carefully made detailed inquiries concerning the Company, its business and personnel. The Subscriber has adequate net worth and means of providing for the Subscriber's current needs and contingencies to sustain a complete loss of the Subscriber's investment in the Company. The Subscriber's overall commitment to investments that are not readily marketable is not disproportionate to the Subscriber's net worth and the Subscriber's investment in the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Accredited Investor</u>. Subscriber certifies that he, she or it is an "accredited investor" as defined in Regulation D under the Securities Act. Subscriber qualifies as an "accredited investor" because he, she or it meets any one or more of the following requirements (please check all that apply):

_____ A natural person whose individual net worth (as defined in Rule 501(a)(5)(i) of Regulation D promulgated under the Securities Act), or joint net worth with that person's spouse, exceeds $1,000,000.

_____ A natural person who had individual income in excess of $200,000 in each of the two most recent years, or joint income with that person's spouse in excess of $300,000 in each of those years and who has a reasonable expectation of reaching the same income level in the current year.

_____ A natural person who currently holds in good standing one or more professional certifications or designations or credentials from an accredited educational institution that the SEC has designated as qualifying an individual for accredited investor status.

_____ A director or executive officer (as defined in Rule 501(f) of Regulation D promulgated under the Securities Act) of the Company.

_____ A bank (as defined in Section 3(a)(2) of the Securities Act) or a savings and loan association or other institution (as defined in Section 3(a)(5)(A) of the Securities Act), whether acting in its individual or fiduciary capacity.

_____ A broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, as amended.

_____ An investment adviser registered pursuant to Section 203 of the Investment Advisers Act of 1940, as amended (the "Investment Advisers Act") or registered pursuant to the laws of a state or an investment adviser relying on the exemption from registering with the SEC under Section 203(l) or (m) of the Investment Advisers Act.

_____ An insurance company (as defined in Section 2(a)(13) of the Securities Act).

_____ An investment company registered under the Investment Company Act of 1940, as amended, or a business development company (as defined in Section 2(a)(48) of the Investment Company Act of 1940, as amended).

_____ A Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958, as amended.

_____ A Rural Business Investment Company as defined in Section 384A of the Consolidated Farm and Rural Development Act

_____ A plan established and maintained by a state, its political subdivisions or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000.

_____ An employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, as amended ("<u>ERISA</u>"), if (A) the investment decision is made by a plan fiduciary (as defined in Section 3(21) of ERISA) which is either a bank, savings and loan association, insurance company or registered investment advisor, (B) the employee benefit plan has total assets in excess of $5,000,000 or (C) if the plan is a self-directed plan, its investment decisions are made solely by persons who are accredited investors.

_____ A private business development company (as defined in Section 202(a)(22) of the Investment Advisers Act of 1940, as amended).

_____ A corporation, a partnership, an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, or a Massachusetts or similar business trust, not formed for the specific purpose of acquiring securities, with total assets in excess of $5,000,000.

_____ A trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring securities, whose acquisition is directed by a person who, either alone or with his or her purchaser representative(s), has such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of acquiring securities.

_____ An entity in which all of the equity owners meet the requirements of at least one of the above subparagraphs for accredited investors.

_____ An entity of a type not listed above that is not formed for the specific purpose of acquiring the securities offered and owning investments in excess of $5,000,000.

_____ A family office (as defined in Rule 202(a)(11)(G)-1 under the Investment Advisers Act): (1) with assets under management in excess of $5,000,000; (2) that is not formed for the specific purpose of acquiring the securities offered; and (3) whose prospective investment is directed by a person who has such knowledge and experience in financial and business matters that such family office is capable of evaluating the merits and risks of the prospective investment.

_____ A family client (as defined in Rule 202(a)(11)(G)-1 under the Investment Advisers Act) of a family office meeting the requirements set forth in Rule 501(a)(12) of Regulation D and whose prospective investment in the issuer is directed by a person who has such knowledge and experience in financial and business matters that such family office is capable of evaluating the merits and risks of the prospective investment

 **

***If none of the above apply, contact the Company directly as further information may be required to determine accredited investor status.***

 

***Verification of Accredited Investor Status***

The Subscriber will first be required to fill out an accredited investor questionnaire and submit additional information to verify accredited investor status in accordance with Rule 506(c). Specifically, the Company will require Subscriber to provide one or more of the following information to verify that a natural person who purchases securities in such offering is an accredited investor:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Accredited investors who wish to qualify based on the income test may be required to submit an Internal Revenue Service form that reports the Subscriber's income for the two most recent years (including, but not limited to, Form W-2, Form 1099, Schedule K-1 to Form 1065, and Form 1040) and provide a written representation that he or she has a reasonable expectation of reaching the income level necessary to qualify as an accredited investor during the current year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Accredited investors who wish to qualify based on the net worth test may be required to submit one or more of the following types of documentation dated within the prior three months and obtain a written representation from the purchaser that all liabilities necessary to make a determination of net worth have been disclosed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) With respect to assets: bank statements, brokerage statements and other statements of securities holdings, certificates of deposit, tax assessments, and appraisal reports issued by independent third parties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) With respect to liabilities: a consumer report from at least one of the nationwide consumer reporting agencies.

In order to comply with the net worth verification method provided under Rule 506(c), the relevant documentation must be dated within the prior three months of the sale of securities. If the documentation is older than three months, the Company may not rely on the net worth verification method, but may instead determine whether it has taken reasonable steps to verify the purchaser's accredited investor status under a principles-based method of verification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The Company may also consider and request written confirmation from one of the following persons or entities that the potential investor has taken reasonable steps to verify that it is an accredited investor within the prior three months and has determined that such potential investor is an accredited investor:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) A registered broker-dealer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) An investment adviser registered with the Securities and Exchange Commission

("SEC");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) A licensed attorney who is in good standing under the laws of the jurisdictions in which he or she is admitted to practice law; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) A certified public accountant who is duly registered and in good standing under the laws of the place of his or her residence or principal office.

In addition, the Subscriber may be subject to additional information requests and certifications based on the SEC's "bad actor" rules that would disqualify securities offerings from the Rule 506(c) exemption if an issuer or other relevant persons have been convicted of, or are subject to court or administrative sanctions for, securities fraud or other violations of specified laws. Relevant persons includes "any affiliated issuer; any director, executive officer, other officer participating in the offering, general partner or managing member of the issuer; any beneficial owner of 20% or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power; any promoter connected with the issuer in any capacity at the time of such sale; any investment manager of an issuer that is a pooled investment fund; any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with such sale of securities; any general partner or managing member of any such investment manager or solicitor; or any director, executive officer or other officer participating in the offering of any such investment manager or solicitor or general partner or managing member of such investment manager or solicitor."

The representations made by, and the information provided by, the Subscriber will be reviewed to determine his, her or its suitability, and the Company will have the unfettered right to refuse a subscription for the Securities if, in its sole discretion, it believes that the Subscriber does not meet the applicable suitability requirements or the Securities are otherwise an unsuitable investment for the Subscriber.

It is anticipated that comparable suitability standards will be imposed by the Company in connection with any resale of the Securities. Any such resale is subject to various restrictions and may result in substantial adverse tax consequences. On any proposed transfer of Securities, the Board of Directors intends to require that the transferee satisfy similar suitability requirements consistent with applicable securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i) <u>No Assurances</u>. The Company has not made any representation or other assurance to the Subscriber concerning the percentage of profit or the amount or type of consideration, profit or loss (including tax deductions), if any, to be realized by the Subscriber as a result of an investment in the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Capacity and Authority to Contract</u>. This Agreement has been duly executed by the Subscriber. The Subscriber has full capacity and authority to enter into and to perform this Agreement in accordance with its terms. If an entity, Subscriber is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, and the person signing this Agreement on the Subscriber's behalf is a duly elected, qualified and acting officer of the Subscriber and has the necessary authorization to act on behalf of the Subscriber and to execute and deliver this Agreement and all documents and instruments to be executed and delivered in connection herewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>No Brokers</u>. The Subscriber has dealt with no broker or finder in connection with any of the transactions contemplated by this Agreement, and, insofar as the Subscriber knows, no broker or other person is entitled to any commission or finder's fee in connection with the Investment. The Subscriber agrees to indemnify and hold the Company harmless against any loss, liability, damage, cost, claim or expense incurred by reason of any brokerage commission or finder's fee alleged to be payable because of any act, omission or statement of the Subscriber.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Receipt of Documents</u>. The Subscriber acknowledges that Subscriber has received a copy of the Executive Summary, and the Articles of Incorporation for the Company and any amendments thereto. The Subscriber has also had the opportunity to make a request and has received any other documents requested from the Company. The Subscriber acknowledges that the Company makes no warranty about the Investment and any documents provided therewith which may contain forward-looking statements about which no assurance can be given.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Legend on Certificates</u>. The Subscriber acknowledges that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. a legend will be placed on any certificates issued by the Company to evidence the interest of the undersigned in the Securities of the Company, in such form as the Company may deem appropriate to describe the restrictions which are imposed upon any resale effort; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. a notation in the appropriate records of the Company will be made with respect to any restrictions on the transfer of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Bad Actor</u>. Subscriber is not subject to and is not aware of any facts that would cause the Subscriber to be subject to any of the "Bad Actor" disqualifications as described in Rule 506(d)(1)(i) to (viii) of the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Compliance</u>. The execution and delivery by the Subscriber of, and the performance by the Subscriber of its obligations under, this Subscription Agreement will not contravene any provision of applicable law, the organizational documents of the Subscriber (if an entity), any agreement or other instrument binding upon the Subscriber, or any judgment, order or decree of any governmental body, agency or court having jurisdiction over the Subscriber. No consent, approval, authorization or order of, or qualification with, any governmental body or agency is required for the performance by the Subscriber of his, her or its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>Public Solicitation</u>. The offering and sale of the Securities is being made solely to investors in reliance on the private placement exemption from registration provided in Rule 506(c) of Regulation D thereunder, and in reliance on appropriate exemptions from state registration and qualification requirements where available. Under Rule 506(c), the Company may engage in general solicitation or general advertising in offering and selling the Securities, provided that: (i) all purchasers of the Securities are accredited investors, and (ii) the Company takes reasonable steps to verify that such purchasers are accredited investors, as described Section 3(h) above. The Subscriber will be required to represent in writing that they meet the applicable requirements to qualify as an "accredited investor" and shall be required to provide proof of such eligibility to the Company upon the Company's request. In making the decision to purchase the Securities, the Subscriber relied solely on information obtained by the Subscriber directly from the Company as a result of any inquiries by the Subscriber or one or more of the Subscriber's advisors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) <u>No Public Market</u>. There exist substantial restrictions on the transferability of the Securities under federal and state law, and there likely will be no public market for the Securities. The Subscriber may not be able to rely upon the provisions of Rule 144 adopted by staff of the SEC under the Securities Act with respect to the resale of the Securities. Accordingly, the Subscriber may have to hold the Securities indefinitely and may not be able to liquidate his, her or its investment in the Company, even in the case of an emergency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) <u>Additional Information</u>. The Securities will be issued pursuant to applicable exemptions from the registration requirements of the Securities Act, including those provided by Section 4(a)(2) of the Securities Act and/or rules promulgated thereunder (including without limitation Rule 506 under Regulation D), and applicable state securities laws, including the Florida Securities and Investor Protection Act (the "<u>Florida Act</u>"). Subscriber agrees to provide such additional information, certifications and assurances to the Company as reasonably requested by the Company to assure the suitability of the investment for Subscriber and Subscriber's eligibility to purchase the Securities hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) <u>Tax Consequences</u>. Subscriber understands that none of the Company, its management, nor any professional advisor of the Company has made or makes any representation or warranty to Subscriber with respect to, or assumes any responsibility for, the federal income tax consequences to Subscriber of an investment in the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) <u>No Representations</u>. None of the following has ever been represented, guaranteed or warranted to the Subscriber by the Company, its founders, Board of Directors, officers, agents or employees, or other persons, expressly or by implication:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. the approximate or exact length of time that the Subscriber will be required to remain owner of the Securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. the amount or type of consideration, profit or loss (including tax benefits) which reasonably may be expected to be realized, if any, as a result of the activities of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. that the past performance or experience of any entity or other person associated with this investment, directly or indirectly, will in any way indicate the results of the ownership of the Securities or of the Company's intended activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. **<u>Representations of the Company</u>**. To induce the Subscriber to enter into this Agreement and consummate the transactions contemplated hereby, the Company hereby make the following representations and warranties to the Subscriber:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Organization and Company Power</u>. The Company is a corporation duly organized, validly existing and in good standing under the laws of Wyoming. The Company has all required company power and authority to carry on its business as presently conducted, to enter into and perform this Agreement and to carry out the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Authorization and Non-Contravention</u>. The execution, delivery and performance of this Agreement has been duly authorized by all necessary company or other action of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Issuance of Securities</u>. The issuance, sale and delivery of the Securities to Subscriber in accordance with this Agreement, have been, or will be on or prior to the closing, duly authorized by all necessary company action on the part of the Company, and all such Securities shall have been duly reserved for issuance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>No Further Representations or Warranties</u>. Except for the representations and warranties set forth in Sections 5(a)-(c) above, the Company hereby makes no representations or warranties to the Subscriber.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. **<u>Risk Factors</u>**. THE SUBSCRIBER SHOULD CAREFULLY CONSIDER THE RISK FACTORS SET FORTH ON <u>EXHIBIT A</u> ATTACHED HERETO BEFORE MAKING AN INVESTMENT DECISION. THE RISKS AND UNCERTAINTIES DESCRIBED ON <u>EXHIBIT</u> A ARE SIMPLY EXAMPLES OF SOME OF THE RISKS THAT THE COMPANY OR ITS SUBSIDIARIES MAY FACE BUT ARE NOT THE ONLY RISKS THAT THE COMPANY OR ITS SUBSIDIARIES MAY FACE. IF ANY OF THESE EVENTS ACTUALLY OCCURS, THE COMPANY'S AND ITS SUBSIDIARIES RESPECTIVE BUSINESSES, FINANCIAL CONDITION AND RESULTS OF OPERATIONS COULD BE MATERIALLLY HARMED. IN THAT EVENT, THE VALUE OF THE SECURITIES COULD DECLINE, AND THE SUBSCRIBER COULD LOSE PART OR ALL OF ITS INVESTMENT. AN INVESTMENT IN THE SECURITIES COVERED BY THIS AGREEMENT IS SPECULATIVE AND INVOLVES A HIGH DEGREE OF RISK.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. **<u>Indemnification</u>**. Subscriber hereby agree to indemnify and hold harmless the Company, its officers, directors, stockholders, employees, agents and attorneys against any and all losses, claims, demands, liabilities and expenses (including reasonable legal or other expenses) incurred by each such person in connection with defending or investigating any claims or liabilities, whether or not resulting in any liability to such person to which any such indemnified party may become subject under the Act, under any other statute, at common law or otherwise, insofar as such losses, claims, demands, liabilities and expenses (a) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact made by Subscriber in this Agreement, or (b) arise out of or are based upon any breach by the Subscriber of any representation, warranty or agreement contained herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. **<u>Use of Proceeds.</u>** Company will use the proceeds of this Offering to: (a) hire, train and compensate officers and employees of the Company; (b) pay marketing and promotional costs incurred by the Company; (c) develop and implement our business and technology infrastructure; (d) pay any and all start up, legal, accounting and other organizational costs; and (e) general corporate and working capital purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. <u>General</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Successors and Assigns</u>. The provisions of this Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of the parties hereto; <u>provided, however,</u> that the Subscriber shall not have the right to transfer or assign its rights and obligations under this Agreement without the written consent of the Company. In the event the Company consents to an assignment by the Subscriber, the Subscriber shall be solely responsible for any tax consequences incurred and regulatory approvals (and the costs thereof) required in connection with such assignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Governing Law</u>. This Agreement shall be governed by and construed in accordance with the internal laws of the state of Florida applicable to agreements made and to be performed entirely within the state of Florida, without regard to the conflicts of law principles of the state of Florida.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Notices</u>. All notices, requests, consents and other communications required or permitted under this Agreement shall be in writing and shall be (as elected by the person giving such notice) transmitted by email, sent via recognized overnight courier with tracking capabilities, or mailed by registered or certified mail (postage prepaid), return receipt requested, addressed (i) if to Subscriber, at the address or facsimile number listed on the applicable signature page to this Agreement, or (ii) if to the Company, at the address listed above, addressed to the attention of Brian Podolak, President, with a copy to Perlman, Bajandas, Yevoli & Albright, P.L., 200 South Andrews Ave., Suite 600, Fort Lauderdale, FL 33301, Attention: Jason E. Perlman. Each such notice shall be deemed delivered (x) on the date delivered, if by overnight courier service; (y) on the date of the confirmation of receipt, if by email; and (z) either upon the date of receipt or refusal of delivery, if mailed. The place to which notices are to be given to any party may be changed from time to time by such party by providing written notice to the other party in accordance with the terms of this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Survival of Representations and Warranties</u>. The Subscriber agrees to promptly notify the Company in the event that any of the representations set forth above cease to be accurate in any respect at any time prior to the purchase of the Securities. Until such notice to the Company, the Company may rely on the representations, warranties, covenants and agreements contained herein in connection with any matter related to the Company. All agreements, representations and warranties of the Company contained herein shall be deemed to be made as of the date hereof and shall expire upon the execution and delivery of this Agreement by the Company and the closing of the transactions hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Amendments</u>. This Agreement may not be amended or modified, and no provisions hereof may be waived, without the written consent of the Company and the Subscriber.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Headings</u>. The descriptive headings in this Agreement have been inserted for convenience only and shall not be deemed to limit or otherwise affect the construction of any provision hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Counterparts</u>. This Agreement may be executed simultaneously in counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument. A copy of this Agreement that is signed and delivered by telecopy, facsimile or electronic (whether by PDF, any electronic signature complying with the US federal ESIGN Act of 2000 (e.g., <u>www.docusign.com)</u> or otherwise) transmission 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Severability</u>. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Binding Arbitration of Disputes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Any controversy, claim, or dispute between the parties (each, a "<u>Dispute</u>"), including any claim based on contract, tort or statute, arising out of or relating to the rights or obligations of the parties under this Agreement shall be resolved in accordance with this Section. Venue or location for any arbitration pursuant to this Agreement shall be referred to the office of American Arbitration Association ("<u>AAA</u>") closest to the principal office of the Company in Palm Beach County, Florida. Any and all arbitration shall be conducted by a single arbitrator appointed in accordance with the rules of the AAA, as modified herein, and in accordance with its Commercial (or other) Arbitration Rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The rules to be followed in the arbitration shall be as follows: (A) the petition for arbitration shall be submitted in the form of a complaint, prepared in conformance with law of the State of Florida, and filed with the arbitrator, with copies personally served on all responding parties; (B) the respondent shall have thirty (30) days to file a response in the form of an answer, prepared in compliance with the state in which the arbitration is commenced; (C) demurrers, motions to strike, and other pretrial motions permitted under the code of civil procedure in the state in which the arbitration is commenced shall be permitted in the arbitration proceeding; (D) the matters at issue shall be set for hearing by the arbitrator; (E) within twenty (20) days after the filing of the answer, the arbitrator shall schedule, at a mutual acceptable times for the parties, a pre-hearing conference, and discovery and hearing dates, and if the parties are unable so to agree, the arbitrator shall set the appropriate dates; and (F) any disputes concerning discovery shall be submitted to the arbitrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The arbitrator shall comply with, and the decision of the arbitrator shall be rendered in accordance with, the substantive laws of the State of Florida, without regard to choice of law principles. Notwithstanding the foregoing, the arbitrator shall not have the power to alter, modify, amend, add to, or subtract from any term or provision of this Agreement in any respect, nor to rule upon or grant any extension, renewal, or continuance of this Agreement. The arbitrator shall have the authority to grant any legal remedy available had the parties submitted the dispute to a judicial proceeding; provided that the arbitrator shall have no power or authority to grant injunctive relief, specific performance or other equitable relief. The parties agree to be bound by the decision of the arbitrator, which shall be final, and shall not be appealable. The arbitrator's decision shall be rendered within thirty (30) days following submission of the matter at issue, but the failure to comply with this provision shall in no way invalidate any decision or award as may be rendered more than thirty (30) days after submission. The fees and costs of the arbitrator shall initially be borne equally by the parties to the arbitration. The judgment upon the award rendered by the arbitrator may be entered in the court having jurisdiction pursuant to <u>Section 9(j)</u>. In connection with any suit to confirm the judgment or finding of an arbitrator, the parties further irrevocably submit themselves to the jurisdiction and venue provided under <u>Section 9(j)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Consent to Jurisdiction</u>. Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of any Florida state court in the county of Palm Beach or federal court of the United States of America sitting in the county of Palm Beach in the state of Florida, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement that is not subject to the provisions of <u>Section 9(i)</u> above. or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in any such Florida court, or, to the extent permitted by law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent it or he may legally and effectively do so, any objection that it or he may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to the Agreement in any Florida state or federal court in the county of Palm Beach. Each of the parties hereto irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. Service of any court paper may be effected on such party by mail, as provided in this Agreement, or in such other manner as may be provided under applicable laws, rules of procedure or local rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Integration</u>. This Agreement, including the exhibits, documents and instruments referred to herein or therein, constitute the entire understanding and agreement between the Subscriber and the Company with respect to the subject matter contained herein and supersedes any prior agreements, understandings, restrictions, representations, or warranties, both written and oral, among the Subscriber and the Company with respect to such subject matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Expenses</u>. Except as otherwise provided in this Agreement, each of the parties shall bear and pay all direct costs and expenses incurred by it or on its behalf in connection with the transactions contemplated by this Agreement, including, without limitation, the fees and expenses of its own financial or other consultants, accountants, and counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Limitation of Liability</u>. NOTWITHSTANDING ANYTHING CONTAINED HEREIN TO THE CONTRARY, IN NO EVENT SHALL THE COMPANY OR ANY OF ITS STOCKHOLDERS, DIRECTORS, OFFICERS, AGENTS OR REPRESENTATIVES BE LIABLE TO THE SUBSCRIBER FOR ANY LOSSES, INCLUDING LOST PROFITS OR SPECIAL, CONSEQUENTIAL OR INDIRECT DAMAGES, HOWEVER CAUSED, ON ANY THEORY OF LIABILITY WHETHER BASED UPON TORT, CONTRACT, STATUTORY OR OTHER CAUSE OF ACTION, AND IN ANY EVENT, THE MAXIMUM LIABILITY OF THE COMPANY OR ANY OF ITS STOCKHOLDERS, DIRECTORS, OFFICERS, AGENTS OR REPRESENTATIVES SHALL NOT EXCEED, IN THE AGGREGATE, THE AMOUNT PAID BY THE SUBSCRIBER FOR THE SECURITIES PURSUANT TO THIS AGREEMENT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>FOR FLORIDA RESIDENTS ONLY</u>. NOTWITHSTANDING ANYTHING ELSE IN THIS AGREEMENT TO THE CONTRARY ANY SALE OF THE SECURITIES MADE TO A RESIDENT OF FLORIDA IS VOIDABLE BY THE SUBSCRIBER AND THE SUBSCRIBER HAS THE RIGHT TO RECEIVE BACK ANY MONEY PAID OR OTHER CONSIDERATION GIVEN, WITHOUT PENALTY OR REDUCTION OF ANY KIND, WITHIN THREE (3) DAYS AFTER THE FIRST TENDER OF CONSIDERATION IS MADE BY THE SUBSCRIBER TO THE COMPANY (OR AN AGENT FOR THE COMPANY) OR WITHIN THREE (3) DAYS AFTER THE AVAILABILITY OF THIS PRIVILEGE IS COMMUNICATED TO THE SUBSCRIBER, WHICHEVER OCCURS LATER. THIS NOTICE CONSTITUTES COMMUNICATION OF THE PRIVILEGE TO A FLORIDA SUBSCRIBER. TO ACCOMPLISH THIS WITHDRAWAL, A SUBSCRIBER NEED ONLY SEND A LETTER TO THE PRESIDENT OF THE COMPANY, INDICATING HIS, HER OR ITS INTENTION TO WITHDRAW. SUCH LETTER SHOULD BE SENT AND POSTMARKED PRIOR TO THE END OF THE AFOREMENTIONED THIRD DAY. IT IS PRUDENT TO SEND SUCH LETTER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO ENSURE THAT IT IS RECEIVED AND ALSO TO EVIDENCE THE TIME WHEN IT WAS MAILED. IF THE REQUEST IS MADE ORALLY IN PERSON OR BY TELEPHONE TO THE COMPANY, A WRITTEN CONFIRMATION THAT THE REQUEST HAS BEEN RECEIVED SHOULD BE REQUESTED.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>NOTICE TO SUBSCRIBER</u>. THIS AGREEMENT HAS BEEN PREPARED BY THE COMPANY. THIS AGREEMENT CONTAINS NO REPRESENTATIONS OR WARRANTIES, IMPLIED OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY REPRESENTATION OR WARRANTY BY THE COMPANY OR ITS DIRECTORS, OFFICERS, AGENTS OR REPRESENTATIVES AS TO THE ACCURACY OR COMPLETENESS OF ANY OF THE INFORMATION IN THIS AGREEMENT OTHER THAN WITH RESPECT TO ITSELF, AND NO PERSON HAS EITHER INDEPENDENTLY VERIFIED OR GUARANTEED THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED IN THIS AGREEMENT EXCEPT WITH RESPECT TO INFORMATION PROVIDED BY SUCH PERSON FOR INCLUSION IN THIS AGREEMENT. STATEMENTS IN THIS AGREEMENT ARE MADE AS OF THE DATE OF THIS AGREEMENT UNLESS STATED OTHERWISE AND ARE SUBJECT TO CHANGE, COMPLETION OR AMENDMENT WITHOUT NOTICE AND THERE IS NO OBLIGATION TO UPDATE THIS AGREEMENT AS TO ANY SUBSEQUENT EVENT. NEITHER DELIVERY OF THIS AGREEMENT AT ANY TIME NOR ANY SALE HEREAFTER SHALL UNDER ANY CIRCUMSTANCES, CREATE AN INDICATION THAT THE INFORMATION CONTAINED HEREIN IS CORRECT AS OF ANY DATE SUBSEQUENT TO SUCH DATE. CERTAIN MARKETING AND INDUSTRY INFORMATION CONTAINED IN THIS AGREEMENT WAS OBTAINED FROM INDUSTRY PUBLICATIONS, INCLUDING INTERNET WEBSITES. INDUSTRY PUBLICATIONS AND MOST RELATED REPUTABLE INTERNET WEBSITES GENERALLY INDICATE THAT THE INFORMATION CONTAINED THEREIN IS FROM SOURCES BELIEVED TO BE RELIABLE, BUT THIS INFORMATION HAS NOT BEEN INDEPENDENTLY VERIFIED AND NO ASSURANCES CAN BE GIVEN REGARDING THE ACCURACY AND COMPLETENESS OF SUCH INFORMATION. THIS AGREEMENT MAY CONTAIN SUMMARIES BELIEVED TO BE ACCURATE OF CERTAIN DOCUMENTS RELATING TO AN INVESTMENT IN THE SECURITIES. SUBSCRIBER IS HEREBY REFERRED TO THE COMPLETE TEXT OF SUCH DOCUMENTS FOR COMPLETE INFORMATION CONCERNING THE RIGHTS AND OBLIGATIONS OF THE PARTIES THERETO. ALL SUCH SUMMARIES ARE QUALIFIED IN THEIR ENTIRETY BY THIS REFERENCE.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>Legal Counsel</u>. This Agreement was prepared by the Company's attorneys using information provided to the attorneys solely by the Company and its officers. The Company's attorneys expressly disclaim any duty to investigate the Company or its officers, directors, owners, employees, agents or promoters or verify the truth of any of the information provided to or by them. The Subscriber should not rely on the Company's attorneys' involvement in preparing the Agreement, and the Subscriber is urged to review the Agreement and any other material provided to the Subscriber by the Company or anyone acting on its behalf. The Subscriber should not consider the Company's attorneys to be his, her or its attorney. The Subscriber is encouraged to retain his, her or its own counsel and to have that counsel review this Agreement and advise the Subscriber regarding the advisability of making an investment in the Company. No attorney-client relationship exists between the Subscriber and the Company's counsel. The Company's attorneys are not representing and will not represent the Subscriber in connection with the transactions contemplated hereby (including the purchase of the Securities) or any dispute which may arise between the Company, on the one hand, and any of its members, on the other hand. The Subscriber will, if he, she or it desires counsel on the transactions contemplated hereby, retain his, her or its own independent counsel and will pay all fees and expenses of such counsel. The Company's attorneys may represent the Company in connection with any and all matters and the Subscriber expressly waives any conflict of interest in connection with such representation by the Company's attorneys in any subsequent matter involving the Company and its officers, on the one hand, and the Subscriber on the other hand.

[Signature Page Follows]

—Signature Page for Subscribers that are Individuals—

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered as of the day and year set forth below.

---

| | |
|:---|:---|
| **SUBSCRIBER:** | **SUBSCRIBER:** |
| **Name:** | James (jack) stites |

---

**SUBSCRIBER INFORMATION — PLEASE FILL OUT:**

---

| | |
|:---|:---|
| **Address:** | **1843 Foreman Dr.** |
|  | **Cookeville Tn., 38501** |
| **State of Residence:** | **Tn.** |
| **Social Security Number:** | **###-##-####** |
| **Telephone:** | **931-261-7006** |
| **Facsimile:** | **931-528-5997** |
| **E-mail:** | <u>jstites@jsconstruction.com</u> |
|  | **3-30-49** |

---

ELECTION TO PURCHASE:

**The Subscriber hereby elects to participate in this Offering for the following:**

---

| | |
|:---|:---|
| **Purchase Price:** | **$2.00** |
| **Shares Purchased** | **50000** |

---

To be completed by Vocodia Holdings Corp.

Accepted as of <u>March 22</u>, 2021 for an amount of $<u>100,000.00</u>:

Vocodia Holdings Corp.

---

| | | |
|:---|:---|:---|
| **By:** | /s/Brain Podalak | **3/25/2022** |
|  | Brian Podolak, <u>President</u> |  |

---

<u>EXHIBIT A</u>

Risk Factors

 

*For purposes of the following, references to "us," "our," and "we" shall refer to the Company, and references to "you," or "your" shall refer to the Subscriber. You should carefully consider the risks described below, together with all of the other information included in the Subscription Agreement, before making an investment decision with regard to our securities. The statements contained in or incorporated into the following discussion that are not historic facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. If any of the following risks actually occurs, our business, financial condition or results of operations could be harmed. In that case, you may lose all or part of your investment.*

<u>Risks Related to Our Business and the Securities</u>

OUR BUSINESS, INVOLVING NEW TECHNOLOGY, HAS A HIGH DEGREE OF RISK. YOU SHOULD CAREFULLY CONSIDER THE FOLLOWING RISK FACTORS BEFORE MAKING AN INVESTMENT DECISION. THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY FINANCIAL PROJECTIONS ARE ALL QUALIFIED BY THE FOLLOWING RISK FACTORS, WHICH SHOULD NOT BE CONSIDERED AN EXHAUSTIVE LISTING OF THE POTENTIAL RISKS OF ANY INVESTMENT IN THE STOCK, BUT MERELY INDICATIVE OF SOME OF THE PRINCIPAL RISKS THAT MANAGEMENT BELIEVES ARE PERTINENT AND THAT SHOULD BE CONSIDERED PRIOR TO MAKING ANY SUCH INVESTMENT. IF ANY OF THE FOLLOWING RISKS OCCUR, OUR BUSINESS, FINANCIAL CONDITION, OR RESULTS OF OPERATIONS COULD BE MATERIALLY ADVERSELY AFFECTED AND IN SUCH CASE, YOU COULD LOSE PART OR ALL OF YOUR INVESTMENT.

 ****

***Vocodia has no operating history, which makes it difficult to evaluate Vocodia's future prospects and may increase the risk that Vocodia will not be successful.***

We are a corporation formed in 2021 with the purpose of utilizing artificial intelligence ("AI") technology to create and deploy sales agents to be utilized in our customers' call centers and other businesses; however, our operations to date are limited. Our proposed operations are subject to all of the risks and uncertainties inherent for a development stage business enterprise. Assessing our business and future prospects is challenging in light of the risks and difficulties we may encounter. These risks and difficulties include our ability to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· attract and retain customers on a cost-effective
basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· increase awareness of the Vocodia brand and services
and develop customer loyalty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· operate, support, expand and develop our operations, website, software and
communications and other systems;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· raise capital;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· respond to technological changes and regulatory
changes or demands; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· attract, retain and motivate qualified personnel.

If we are unsuccessful in addressing these risks or in executing our business strategy, this could have a material adverse effect on our business, results of operations and financial condition. We may not be able to successfully address these risks and difficulties, which could materially harm our business and results of operations.

***Vocodia's growth cannot be assured. Even if Vocodia does experience growth, we cannot assure you that it will grow profitably.***

Our business strategy is dependent on the growth of our business. For us to achieve significant growth, customers must accept our services as a valuable commercial tool. Our growth will depend on our ability to quickly gain and maintain customers to use Vocodia's services. We cannot assure you that our efforts will be successful or result in increased revenues, higher margins or profitability. Our plans to pursue opportunities for revenue growth are at an early stage, and we cannot assure you that our plans will be successful or that we will actually proceed with them as described.

 ****

***Adverse changes or interruptions in our relationships with vendors and supplier could affect our revenues.***

We cannot assure you that our arrangements with vendors and suppliers will remain in effect or that any of these vendors or suppliers will continue to supply us with the same level of service at the same price, which will affect our revenues. If our arrangements with our vendors or suppliers change or do not remain in effect, this could have a material adverse effect on our business, results of operations and financial condition

 ****

***If Vocodia fails to attract and retain customers in a cost-effective manner, our ability to grow and become profitable may be impaired.***

Our business strategy depends on increasing our overall number of customer transactions in a cost-effective manner. In order to increase our number of transactions, we must attract new customers to use our services. There are no assurances that our efforts will be cost effective at attracting new customers or increasing transaction volume. If we do not achieve our sales objectives, this could have a material adverse effect on our business, results of operations and financial condition.

 ****

***Growth of our business will depend on a strong brand and any failure to develop, maintain, protect and enhance our brand would hurt our ability to retain or expand our customer base and our ability to increase their level of engagement.***

We believe that a strong brand is necessary to attract and retain customers. We need to develop, maintain, protect and enhance our brand in order to create a base of customers and increase their engagement. Successful promotion of our brand will depend largely on our ability to maintain a sizeable and active customer base, our marketing efforts and ability to provide reliable and useful products and services at competitive prices. Brand promotion activities may not yield increased revenue, and even if they do, any increased revenue may not offset the expenses we will incur in building our brand. If we fail to successfully promote and maintain our brand, or if we incur substantial expenses in an unsuccessful attempt to promote and maintain our brand, we may fail to attract enough new customers or retain our existing customers to the extent necessary to realize a sufficient return on our brand-building efforts, in which case our business, operating results and financial condition, would be materially and adversely affected. Furthermore, negative publicity about Vocodia, including issues with our technology, could diminish confidence in, and the use of, our services, which could have a material adverse effect on our business, results of operations and financial condition.

 **

***Our efforts to increase the use of our platform and services may not succeed and may negatively affect our revenue growth rate.***

 **

The success of sales and marketing for our software platform, which is a B2B and B2C software solution for call centers and businesses, is unpredictable. The future level of market acceptance is unpredictable.

Further, the introduction of new solutions may not be successful, which would adversely affect potential growth. We are unable to determine with any certainty, the satisfactory level from customers using our platform, and may not be able to determine with certainty the extent to which our innovative solutions are being embraced by customers. Any factor adversely affecting sales of our platform or solutions, including release cycles, market acceptance, competition, performance and reliability, reputation, and economic and market conditions, could adversely affect our business and operating results.

 ****

***We may need additional financing in the future, which we may be unable to obtain.***

Our business requires substantial investments of capital. The development of the software and supporting technology infrastructure, execution of advertising and promotional campaigns, hiring and training of high- quality personnel, and performance of other tasks necessary to operate the business require a significant amount of capital. A significant amount of time may elapse between our expenditure of funds and the receipt of commercial revenues derived from our services. This time lapse requires us to fund a significant portion of our capital requirements from various financing sources. We cannot be certain that we can successfully implement these financing arrangements or that we will not be subject to substantial financial risks relating to the operation of our business. Any of the foregoing could have a material adverse effect on our business, results of operations and financial condition.

We currently anticipate that the funds from the sale of the Securities under this Offering, combined with our current cash resources, will be sufficient to meet our anticipated capital expenditures and working capital requirements in the near term. However, we expect a need to raise additional funds to finance our long-term operations, as well as to continue to develop and enhance our products and services, fund expansion, respond to competitive pressures or acquire complementary businesses. Such additional funds may result in additional dilution to your investment in the Company. Poor financial results, unanticipated expenses or unanticipated opportunities that require financial commitments could give rise to additional financing requirements we did not expect.

Additional financing may not be available on terms favorable to us, or at all. If adequate funds are not available or are not available on acceptable terms, our ability to enhance our products and services, fund expansion, respond to competitive pressures or take advantage of business opportunities would be significantly limited and/or delayed, and we might need to significantly restrict our operations.

In the event that the Company uses debt to finance ongoing operations or growth, the debt could contain financial or other covenants which could reduce our future operating flexibility. These covenants might also require the Company to maintain certain levels of financial performance that it might not be able to achieve; any such failure could result in the acceleration of such debt and the foreclosure by those creditors on any collateral the Company used to secure the debt. In the event of a bankruptcy or liquidation of the Company, any outstanding debt would rank senior to our outstanding Units, including those offered in this Offering.

 ****

***Our success is dependent on our management team. The loss of any member of our management team could adversely affect our operations and financial results.***

To a significant extent, our success depends on our current management team. The loss of any member of our management team could materially adversely affect our operations and financial results. We currently do not have "key person" life insurance on any of our management team. We do not have fixed term employment or contractor agreements with any of our management team, all of whom could terminate their relationship with us at any time.

***We depend on talented personnel to grow and operate our business, and if we are unable to hire, retain, manage and motivate our personnel, or if our new personnel do not perform as we anticipate, we may not be able to grow effectively.***

Our future success will depend upon our ability to identify, hire, develop, motivate and retain talented and high-quality personnel. Identifying, attracting, recruiting, training, integrating, managing and motivating talented individuals will require significant time, expense and attention. Competition for talent is intense. If we are not able to effectively recruit and retain our talent, our business and our ability to achieve our strategic objectives would be materially harmed.

 ****

***Our financial projections are only a prediction of our future economic performance, based on our current expectations, and our actual results of operations may be significantly worse.***

Our financial performance projections are based on assumptions we believe to be reasonable, but that are inherently uncertain and unpredictable. Actual results could differ materially from those projected as a result of factors outside our control as well as unanticipated risks and uncertainties set forth herein generally. Accordingly, our projections should be viewed with the understanding that they are merely our estimate of the results that we anticipate obtaining based on the assumptions we made in preparing the projections.

 ****

***If we do not continue to attract and retain qualified personnel, we may not be able to expand our business.***

Our business and financial results depend on the continued service of our key personnel. The loss of the services of our executive officers or other key personnel could harm our business and financial results. Our success also depends on our ability to hire, train, retain and manage highly skilled employees. We cannot assure you that we will be able to attract and retain a significant number of qualified employees or that we will successfully train and manage the employees we hire, which could have a material adverse effect on our business, results of operations and financial condition.

 ****

***Our solutions face competition in the marketplace. If we are unable to compete effectively, our operating results could be adversely affected.***

We compete with many types of AI companies. Our existing competitors, as well as a number of potential new competitors, have longer operating histories, greater name recognition, more established customer bases and significantly greater financial, technical, marketing and other resources than we do. As a result, our competitors may be able to respond more quickly and effectively than we can to new or changing opportunities, technologies, standards or customer requirements. We could lose customers if our competitors introduce new competitive products and technologies, add new features, acquire competitive products, reduce prices, form strategic alliances with other companies or are acquired by third parties with greater available resources. We also face competition from a variety of vendors of software applications that address only a portion of one of our solutions. We may also face increasing competition from open source software initiatives, in which competitors may provide software and intellectual property for free. In addition, if a prospective customer is currently using a competing solution, the customer may be unwilling to switch to our solutions without access to set up support services. If we are unable to provide those services on terms attractive to the customer, the prospective customer may be unwilling to utilize our solutions. If our competitors' products, services or technologies become more accepted than our solutions, if they are successful in bringing their products or services to market earlier than ours, or if their products or services are more technologically capable than ours, then our revenue could be adversely affected. In addition, some of our competitors may offer their products and services at a lower price. If we are unable to achieve our target pricing levels, our operating results would be negatively affected. Pricing pressures and increased competition could result in reduced sales, reduced margins, losses or a failure to maintain or improve our competitive market position, any of which would adversely affect our business.

<u>Risks Related to the Software and Technology</u>

 ****

***If the market for our technology delivery model and proprietary software develops more slowly than we expect, our business could be harmed.***

The market for artificial intelligence-based software is not as mature as the market for current widely used software types, and it is uncertain whether our services will sustain high levels of demand and market acceptance. Our success will depend to a substantial extent on the willingness of companies to increase their use of artificial intelligence-based services in general, and of our solutions in particular. Many companies have invested substantial personnel and financial resources to integrate traditional software into their businesses, and therefore may be reluctant or unwilling to migrate to an artificial intelligence-based service. Furthermore, some companies may be reluctant or unwilling to use artificial intelligence-based services because they have concerns regarding the risks associated with security capabilities, among other things, of the technology delivery model associated with these services. If companies do not perceive the benefits of artificial intelligence-based software, then the market for our solutions may develop more slowly than we expect, or the market for our new solutions may not develop at all, either of which would significantly adversely affect our operating results. We may not be able to adjust our spending quickly enough if market growth falls short of our expectations or we may make errors in predicting and reacting to relevant business trends, either of which could harm our business. If the market for our artificial intelligence-based solutions does not evolve in the way we anticipate, or if customers do not recognize the benefits of our artificial intelligence-based solutions over traditional on-premise enterprise software products, and as a result we are unable to increase sales of subscriptions to our solutions, then our revenue may not grow or may decline, and our operating results would be harmed.

 ****

***Any failure to offer high-quality technical support services may adversely affect our relationships with our customers and our financial results.***

Once our solutions are deployed, our customers depend on us to resolve technical issues relating to our solutions. We may be unable to respond quickly enough to accommodate short-term increases in customer demand for support services. We also may be unable to modify the format of our support services to compete with changes in support services provided by our competitors. Increased customer demand for these services, without corresponding revenue, could increase costs and adversely affect our operating results. In addition, our sales process is highly dependent on our solutions and business reputation and positive recommendations from our existing customers. Any failure to maintain high-quality technical support, or a market perception that we do not maintain high-quality support, could adversely affect our reputation, our ability to sell our solutions to existing and prospective customers, and our business, operating results, and financial position.

 **

***The success of our artificial intelligence-based solutions largely depends on our ability to provide reliable solutions to our customers. If a customer were to experience a product defect, a disruption in its ability to use our solutions or a security flaw, demand for our solutions could be diminished, we could be subject to substantial liability and our business could suffer.***

 **

Because our solutions are complex, and we will continually evolve new features, our solutions could have errors, defects, viruses or security flaws that could result in unanticipated downtime for our customers and harm our reputation and our business. Internet-based software frequently contains undetected errors or security flaws when first introduced or when new versions or enhancements are released. We might from time to time find such defects in our solutions, the detection and correction of which could be time consuming and costly. Since our customers use our solutions for important aspects of their business, any errors, defects, disruptions in access, security flaws, viruses, data corruption or other performance problems with our solutions could hurt our reputation and may damage our customers' businesses. If that occurs, customers could elect not to continue using our services, or withhold payment to us, or may make warranty or other claims against us, which could result in an increase in our provision for doubtful accounts, an increase in collection cycles for accounts receivable or the expense and risk of litigation. We could also lose future sales. In addition, if the public becomes aware of security breaches of our solutions, our future business prospects could be adversely impacted.

 ****

***We are dependent on the internet infrastructure.***

Our future success will depend, in significant part, upon the maintenance of the various components of the Internet infrastructure, such as a reliable backbone network with the necessary speed, data capacity and security, and the timely development of enabling products, such as high-speed modems, which provide reliable and timely Internet access and services. To the extent that the Internet continues to experience increased numbers of users, frequency of use or increased user bandwidth requirements, we cannot be sure that the Internet infrastructure will continue to be able to support the demands placed on it or that the performance or reliability of the Internet will not be adversely affected. Furthermore, the Internet has experienced a variety of outages and other delays as a result of damage to portions of its infrastructure or otherwise, and such outages or delays could adversely affect our Web site and the Web sites of our service providers, as well as the Internet service providers and online service providers our customers use to access our services. In addition, the Internet could lose its viability as a commercial medium due to delays in the development or adoption of new standards and protocols that can handle increased levels of activity. We cannot predict whether the infrastructure and complementary products and services necessary to maintain the Internet as a viable commercial medium will be developed or maintained.

 ****

***If we do not keep pace with technological changes, our solutions may become less competitive, and our business may suffer.***

Our market is characterized by rapid technological change, frequent product and service innovation and evolving industry standards. If we are unable to provide enhancements and new features for solutions that keep pace with these technological developments, our business could be adversely affected. The success of enhancements, new features and solutions depend on several factors, including the timely completion, introduction and market acceptance of the enhancements or new features or solutions. Failure in this regard may significantly impair our revenue growth. In addition, because our solutions are designed to operate on a variety of systems, we will need to continuously modify and enhance our solutions to keep pace with changes in Internet-related hardware, software, communication, browser, and database technologies. We may not be successful in either developing these modifications and enhancements or in bringing them to market in a timely fashion. Furthermore, uncertainties about the timing and nature of new network platform or technologies, or modifications to existing platform or technologies, could increase our research and development expenses. Any failure of our solutions to keep pace with technological changes or operate effectively with future network platform and technologies could reduce the demand for our solutions, result in customer dissatisfaction and adversely affect our business.

 ****

***We may not protect our technology effectively, which would allow competitors to duplicate our products. This could make it more difficult for us to compete with them.***

Our success and ability to compete in our industry depend, in part, upon our technology. We rely primarily on copyright, trade secret and trademark laws and provisions in our contracts to protect our technology. We attempt to negotiate beneficial intellectual property ownership provisions in our contracts. However, laws and our actual contractual terms may not be sufficient to protect our technology from use or theft by third parties. For instance, a third party might try to reverse engineer or otherwise obtain and use our technology without our permission and without our knowledge, allowing competitors to duplicate our services. We may have legal or contractual rights that we could assert against such illegal use, but lawsuits claiming infringement or misappropriation are complex and expensive, and the outcome would not be certain. In addition, the laws of some countries in which we may wish to sell our products may not protect software and intellectual property rights to the same extent as the laws of the United States.

 ****

***Defending against intellectual property claims could be expensive and disruptive to our business.***

We cannot assure you that others will not obtain and assert patents or other intellectual property rights against us affecting essential elements of our business. We intend to diligently defend our intellectual property rights, but intellectual property litigation is expensive and time consuming, and successful infringement claims against us could result in significant monetary liability or prevent us from operating our business, or portions of our business. In addition, resolution of claims may require us to obtain licenses to use intellectual property rights belonging to third parties or possibly to cease using those rights altogether. Any of these events could have a material adverse effect on our business, results of operations or financial condition.

 ****

***Development of our AI solutions to make agents more efficient and improve customer experience may not be successful and may result in reputational harm and our future operating results could be materially harmed.***

We plan to continue to increase and provide our customers with AI-powered applications, including conversational virtual agents, agent assistance and business insights. While we aim for our AI-powered applications to make agents more efficient and improve customer experience, our AI models may not achieve sufficient levels of accuracy. In addition, we may not be able to acquire sufficient training data or our training data may contain biased or otherwise inaccurate information. Furthermore, the costs of AI technologies, such as speech recognition and natural language processing, may currently be too high for broad market adoption. Our competitors or other organizations may incorporate AI features into their products more quickly or more successfully and their AI features may achieve higher market acceptance than ours, which may result in us failing to recoup our investments in developing AI-powered applications. Should any of these items or others occur, our ability to compete, our reputation and operating results may be materially and adversely affected.

 ****

***Issues in the use of artificial intelligence in our offerings may result in reputational harm or liability.***

We are building AI into many of our offerings, and we expect this element of our business to grow. We envision a future in which AI operating in our devices, applications, and the cloud helps our customers be more productive in their work and personal lives. As with many disruptive innovations, AI presents risks and challenges that could affect its adoption, and therefore our business. AI algorithms may be flawed. Datasets may be insufficient or contain biased information. Inappropriate or controversial data practices by Microsoft or others could impair the acceptance of AI solutions. These deficiencies could undermine the decisions, predictions, or analysis AI applications produce, subjecting us to competitive harm, legal liability, and brand or reputational harm. Some AI scenarios present ethical issues. If we enable or offer AI solutions that are controversial because of their impact on human rights, privacy, employment, or other social issues, we may experience brand or reputational harm.

 ****

***We are subject to uncertain government regulation and other legal uncertainties relating to the internet.***

Any new laws or regulations relating to our industry could adversely affect our business. In addition, current laws and regulations may be applied and new laws and regulations may be adopted in the future that address issues such as user privacy, pricing, taxation and the characteristics and quality of services offered over the Internet. New laws could increase the cost of transmitting data over the Internet, which could increase our expenses and discourage people from using the Internet to obtain business and financial information.

**<u>Risks Related to this Offering</u>**

 ****

***No minimum offering size.***

There is no minimum dollar amount that we must raise before we are entitled to use the investors' funds. Accordingly, we will begin to immediately use the funds that we receive from investors in without knowing if we will raise any additional capital. The initial investors will bear this additional risk as we may not be able to raise additional funding to ensure the business is completely operational.

 ****

***The price that you pay for our Shares may not be indicative of the fair market value of our Shares or the Company. Further, if you purchase our Shares, you will incur immediate and substantial dilution from the price you pay.***

The offering price for our Shares was determined arbitrarily by the Company's Board of Directors and may not be an accurate estimate of the fair market value of the Shares. The offering price for our Shares bears no relationship to any established criteria of value, such as book value or earnings per share or any combination thereof. Additionally, because we have no operating history, the price of the Shares is not based on our past earnings. There is no assurance that the value of the Shares will remain at the offering price. Consequently, the offering price of our Shares will be substantially higher than the net tangible book value per share of our outstanding common stock immediately after the Offering. If you purchase Shares in this Offering, you will incur immediate and substantial dilution in the net tangible book value per share from the price you pay.

 ****

***Our corporate governance structure provides that you will have no right to participate in the management of the Company.***

The Board of Directors of the Company will have complete control over the Company's business affairs and operations. The Board of Directors shall have the right to (i) approve all company transactions, such as the sale of the Company's assets or merging with a third party, (ii) encumber the assets of the Company,(iii) incur indebtedness, and/or (iv) issue equity securities with rights senior to the rights that you presently have including, but not limited to the issuance of preferred securities that will entitle the new investors to the return of their capital prior to you receiving the return of your capital. Further, no voting rights attach to the Shares being offered in this Offering. Accordingly, you will have no ability to participate in the management of the Company's business affairs or the right to object to any decision made by the Board of Directors. If we fail to execute our business plan successfully, business decisions made by the Board of Directors could have a material adverse effect on the Company's financial condition and the value of your Shares. Furthermore, the stock of the Company is made up of two different classes, with those being Common Stock and Preferred Stock. The difference between the two classes is that Preferred Stock entitles its holders to 1,000 votes per share, whereas the holders of Common Stock are only entitled to 1 vote per share. The Preferred Stock of the Company is held solely by its founders, Brian Podolak and James Sposato.

 ****

***Our management has broad discretion in the use of the net proceeds from this Offering.***

The net proceeds of this Offering will be added to the Company's working capital and will be available for general company purposes, including hiring and training employees, employee compensation, technology acquisition and development, securing intellectual property rights, and other capital and operating expenditures. We cannot specify with certainty the particular uses for the net proceeds we will receivefrom this Offering or when the proceeds will be applied for those uses. Accordingly, the Company's Board of Directors will have broad discretion in the application of the net proceeds. At this time, we have not secured or identified any additional financing. We do not have any firm commitments or other identified sources of additional capital from third parties or from our officers, Board of Directors or other shareholders. There can be no assurance that additional capital will be available to the Company, or that, if available, it will be on terms satisfactory to the Company's management. Any additional financing may involve dilution to our existing equity holders. If we do not obtain additional capital on terms satisfactory to us, or at all, it may cause us to delay, curtail, scale back or forgo some or all of our business operations, which could have a material adverse effect on our business and financial results and investors would be at risk to lose all or a part of any investment in our Company.

 ****

***There will be no viable private or public market for our Shares. Therefore, your investment in our Company may be limited in its liquidity.***

In all likelihood, there will be no private or public market for the sale of the Company's Shares. Therefore, you should be fully aware of the long-term nature of your investment in the Shares and the lack of liquidity of your investment. Because the Shares are being sold under exemptions from the registration requirements of U.S. and state securities laws, the Shares may not be resold unless such transfer is in accordance with the Stockholders Agreement, or unless they are subsequently registered or a satisfactory opinion of counsel is delivered to us to the effect that such registration is not required. We do not currently contemplate any such registration. No market for the Shares currently exists, and it is unlikely that a market will exist in the near future. You may not be able to liquidate your investment in the event of an emergency or for any other reason. In addition, the transfer of the Shares may result in adverse tax consequences. Accordingly, it may be difficult for you to sell your Shares at the price that you paid for such Shares, at a price that is attractive to you, or at all.

 ****

***The subsequent sale of our Shares may further dilute your Shares.***

The Board of Directors of the Company, in its sole discretion, is authorized to sell additional shares of stock. Any such issuance below the offering price of the Shares in this Offering would dilute the interest of persons acquiring Shares in this Offering.

 ****

***We do not expect to pay any distributions for the foreseeable future.***

We intend to use the proceeds from the investment hereunder and all other available funds to improve and expand our operations. The Board of Directors has the sole ability to determine whether or not we have sufficient net cash flow to make distributions to our shareholders and may determine that it is in our best interest to suspend or terminate cash distributions to our shareholders. Accordingly, we have no plans to pay distributions for the foreseeable future, even if such funds were tos become available.

 ****

***Related Party Transactions***

Click Fish Media, Inc. ("CFM"), which is wholly-owned by James Sposato, and SGT Team Inc. ("SGT"), which is wholly-owned by Brian Podolak, have licensed the intellectual property that the Company's uses for its operations in exchange for a secured promissory demand note (the "Note"). Pursuant to the terms of the Note, in exchange for the licensing of the intellectual property, each of SGT and CFM will be granted 32,500,000 shares of common stock of the Company.

## Exhibit 4.3

**Exhibit 4.3**

PRIVATE OFFERING

$1,000,000 for TWO MILLION SHARES of COMMON STOCK of VOCODIA

HOLDINGS CORPORATION

04/26/2021

EXHIBIT A

Subscription Agreement

&

Investment Questionnaire

![](cm250_ex4-3img01.jpg)

\| SUBSCRIPTION AGREEMENT

Vocodia Holdings Corp

______

EXHIBIT A \| Vocodia Holdings Corp Subscription Agreement & Accredited Investor Assertation 04/26/2021

Dear Sir or Madam:

This will acknowledge that the undersigned hereby irrevocably subscribes to purchase Common Shares at Fifty Cents ($0.50) per Share, (the "Shares") of Vocodia Holdings Corp (the "Company") for an aggregate purchase price set forth on the signature pages affixed hereto and defined below. The Shares and attached Warrants may hereinafter collectively be referred to as the "Securities."

This offering is being made by the Company on a "best efforts" basis to accredited investors only. The minimum investment is $25,000 for 50,000 Shares and a maximum of $1,000,000 for 2,000,000 common shares. Attached to each Share is One (1) Warrant (the "Warrants"). Each Warrant permits the holder to purchase One (1) Share from the Company for One Dollar ($1.00) USD at any time until the expiration of the Warrants issued in this Offering. The Warrants are callable. At any time before expiration, for any reason, the Company may call the warrants, permitting each holder to exercise their warrants within Ten (10) business days, announced upon such call. There is no penalty for non-exercise of warrants upon such call. The Warrants will expire at midnight eastern standard time of the two year anniversary of the closing of this Offering.

WHEREAS: The Company's shares do not trade and have no public market at the current time. The units being subscribed to have no public market nor one in the foreseeable future. The values placed on the units for sale are derived by the company and not by any third-party agency and thus may not be relied upon by the subscriber.

The contemplated sale of the Securities offered hereby is part of a sale of up to One Million Dollars ($1,000,000) of securities of the Company consisting of an aggregate of Two Million (2,000,000) common shares. THERE IS NO MINIMUM AMOUNT THAT MUST BE SOLD AND THERE WILL BE NO ESCROW OF SUBSCRIPTIONS. This offering is being made pursuant to exemptions available under Section 4(a) 2 of the Securities Act of 1933, as amended (the "Act") pursuant to Reg 506 (c) and under certain other laws, including the securities laws of certain states. Neither the Company nor any other person will receive any fee or commission in connection with such sale.

Upon receipt of the executed Subscription Agreement (including the Accredited Investor Questionnaire), the Company will deposit the accompanying check, if payment is by check, into its checking account. Within 10 business days after the receipt by the Company of good funds from the sale of the Securities, the Company will evidence its acceptance by countersigning and mailing a copy of the Subscription Agreement along with a Common Stock certificate and Warrant certificate with expiration date, to the subscriber, or the Investor shall be issued such shares and warrants in book form with the Company.

The undersigned acknowledges that none of the Securities have been registered under the Securities Act of 1933, as amended (the "Act"), or the securities laws of any state, that the Securities are being purchased for investment purposes and not with a view to distribution or resale, nor with the intention of selling, transferring or otherwise disposing of all or any part of such Securities for any particular price, or at any particular time, or upon the happening of any particular event or circumstances, except selling, transferring, or disposing of said Securities made in full compliance with all applicable provisions of the Act, the Rules and Regulations promulgated by the Securities and Exchange Commission thereunder, and applicable state securities laws; and that such Securities must be held indefinitely unless they are subsequently registered under the Act, or an exemption from such registration is available, and will require an opinion of counsel that registration is not required under the Act or such state securities laws, and that the certificates to be issued will bear a legend indicating that transfer of the Securities have not been so registered and the legend may bear the following or similar words:

The Securities represented hereby have not been registered under the Securities Act of 1933, as amended (the "Act") and the securities laws of any state. These Securities have been acquired for investment purposes and not with a view to distribution or resale, and may not be sold, assigned, made subject to a security interest, pledged, hypothecated, transferred or otherwise disposed of without an effective Registration Statement for such Securities under the Act, and applicable state securities laws, or an opinion of counsel satisfactory to the Company to the effect that registration is not required under such Act and such state securities laws.

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EXHIBIT A \| Vocodia Holdings Corp Subscription Agreement & Accredited Investor Assertation 04/26/2021

In connection with the purchase of the Securities, I acknowledge that the Company will be relying on the information and on the representations set forth herein, and I hereby represent, warrant, agree and acknowledge that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) I have not received any general solicitation or general advertising regarding the purchase of the securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) There is no finder in connection with this transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) I have sufficient knowledge and experience of financial and business matters so that I am able to evaluate the merits and risks of purchasing the Securities and I have had substantial experience in previous private and public purchases of securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) I do not require for my liquidity needs the funds being used to purchase the Securities, I have adequate means to provide for my personal needs, and possess the ability to bear the economic risk of holding the Securities purchased hereunder indefinitely, and can afford a complete loss on the purchase of these Securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) During the transaction and prior to purchase, I have read this Subscription Agreement and Investment Letter and have had full opportunity to ask questions of and receive answers from the Company and its officers and authorized representatives regarding the terms and conditions of this Agreement. I understand that I may have access to whatever additional information or documents concerning the Company, its financial condition, its business, its prospects, its management, its capitalization, and other similar matters that 1 desire. In addition, I understand that I may have, at the offices of the Company, at any reasonable hour, after reasonable prior notice, access to all documents and information concerning the Company. I confirm that I do not desire to receive any further information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) I understand the meaning of the first three paragraphs of this Subscription Agreement and Investment Letter, and that a restrictive legend will be placed upon the certificates representing the Securities purchased hereunder, and that instructions will be placed upon the Company's records for the Securities prohibiting the transfer of the Securities absent full compliance with the Act and applicable state securities laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) I understand that the Company intends to use the proceeds from the sale of the Securities for general working capital purposes including acquisitions of such business opportunities as it may deem best situated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) 1 understand that the purchase price of the Securities being purchased hereby has been arbitrarily determined and bears no relationship to the assets or book value of the Company, or other customary investment criteria;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i) I understand that this Subscription Agreement and Investment Letter is subject to the Company's acceptance and may be rejected by the Company at any time prior to a Closing, in its sole discretion, for any reason or no reason at all, notwithstanding prior receipt by me of notice of acceptance of my subscription; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) There is no contract, undertaking, agreement or arrangement with any person to sell, transfer or pledge to such person or anyone else the Securities or any part thereof, and I have no present plans to enter into any such contract, undertaking, agreement or arrangement.

No legal Advice from the Company. Each Buyer acknowledges that it had the opportunity to review this Agreement and the transaction contemplated by this Agreement with its own legal counsel and investment and tax advisors. Each Buyer is relying solely on such Advisors and not on any statements or representations of the Company or any of its representatives or agents for legal, tax or investment advice with respect to this investment, the transactions contemplated by this Agreement, or the securities laws of any jurisdiction.

![](cm250_ex4-3img02.jpg)

EXHIBIT A \| Vocodia Holdings Corp Subscription Agreement & Accredited Investor Assertation 04/26/2021

Except for any rescission rights that may be provided under applicable laws, I am not entitled to cancel, terminate, or revoke my subscription, and any agreements made in connection herewith shall survive my death or disability.

Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Florida, applicable to contracts to be wholly performed within said State, without regard to the principles of conflict of laws.

Arbitration. The parties agree to submit all controversies to arbitration in accordance with the provisions set forth below and understand that:

&nbsp;&nbsp;&nbsp;&nbsp;i. Arbitration is final and binding on the parties.

&nbsp;&nbsp;&nbsp;&nbsp;ii. The parties are waiving their right to seek remedies in court, including
the right to a jury trial.

&nbsp;&nbsp;&nbsp;&nbsp;iii. Pre-arbitration discovery is generally more limited and different
from court proceedings; iii) The arbitrator's award is not required to include factual findings or legal reasoning and any party's right
to appeal or to seek modification of rulings by arbitrators is strictly limited.

&nbsp;&nbsp;&nbsp;&nbsp;iv. The panel of arbitrators will typically include a minority of arbitrators
who were or are affiliated with the Company's industry;

&nbsp;&nbsp;&nbsp;&nbsp;v. All controversies which may arise between the parties concerning
this Subscription Agreement shall be determined by arbitration pursuant to the rules then pertaining to the American Arbitration Association,
in Palm Beach County, Florida;

&nbsp;&nbsp;&nbsp;&nbsp;vi. Judgment on any award of any such arbitration may be entered in
the Supreme Court of the State of Florida, or in any other court having jurisdiction of the Person or Persons against whom such award
is rendered. Any notice of such arbitration or for the confirmation of any award in any arbitration shall be sufficient if given in accordance
with the provisions of this Agreement.

The parties agree that the determination of the arbitrators shall be binding and conclusive upon them.

Blue Sky Qualification. The purchase of Shares under this Subscription Agreement is expressly conditioned upon the exemption from qualification of the offer and sale of the Shares from applicable federal and state securities laws. The Company shall not be required to qualify this transaction under the securities laws of any jurisdiction and, should qualification be necessary, the Company shall be released from any and all obligations to maintain its offer, and may rescind any sale contracted, in such jurisdiction.

Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party.

Headings. The headings of this Agreement are for convenience of reference and shall not form part of or affect the interpretation of this Agreement.

Severability. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction.

Entire Agreement, Amendments. This Agreement supersedes all other prior oral or written agreements between the Buyer(s), the Company, their affiliates and persons acting on their behalf with respect to the matters discussed herein, and this Agreement and the other Transaction Documents contain the entire understanding of the parties with respect to the matters covered herein and therein. No provision of this Agreement may be waived or amended other than by an instrument in writing by the party to be charged with enforcement.

![](cm250_ex4-3img02.jpg)

EXHIBIT A \| Vocodia Holdings Corp Subscription Agreement & Accredited Investor Assertation 04/26/2021

Facsimile Signatures. This Agreement may be executed by facsimile signature. A signed facsimile or photocopy of this Agreement shall be treated as an original, and shall be deemed to be as binding, valid, genuine, and authentic as an originally signed agreement for all purposes, including all matters of evidence and the "best evidence" rule. Risk Acknowledgement. 1 acknowledge that this is a risky investment. I am investing entirely at my own risk. No securities regulatory authority had evaluated or endorsed the merits of these securities or the disclosure in the offering memorandum. The person selling me these securities is not registered with a securities Regulatory authority and has no duty to tell me whether this investment is suitable for me. 1 will not be able to sell these securities except in very limited circumstances. I may never be able to sell these securities. 1 could lose all the money I invest.

Notices. Any notices, consents, waivers, or other communications required or permitted to be given under the terms of this Agreement must be in writing and will be deemed to have been delivered (i) upon receipt, when delivered personally; (ii) upon confirmation of receipt, when sent by facsimile; (iii) upon receipt when sent by U.S. certified mail, return receipt requested, or (iv) one (1) day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall be:

If to the Company, to:

Attention: Vocodia, LLC

900 Linton Blvd Ste 213B

DelrayBeach, FL 33344

Email: <u>legal@vocodia.com</u>

Phone: 561-485-0836

If to the Buyer(s), to its address and facsimile number set forth on the signature pages affixed hereto.

Each party shall provide five (5) days' prior written notice to the other party of any change in address or facsimile number.

I hereby agree to indemnify and hold harmless the Company, its officers, directors, stockholders, employees, agents and attorneys against any and all losses, claims, demands, liabilities and expenses (including reasonable legal or other expenses) incurred by each such person in connection with defending or investigating any claims or liabilities, whether or not resulting in any liability to such person to which any such indemnified party may become subject under the Act, under any other statute, at common law or otherwise, insofar as such losses, claims, demands, liabilities and expenses (a) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact made by an investor in this Subscription Agreement and Investment Letter or (b) arise out of or are based upon any breach by the investor of any representation, warranty or agreement contained herein.

This Subscription Agreement, prior to its acceptance by the Company at the Closing of the offering, is not transferable or assignable by the undersigned. Following the acceptance of this agreement by the Company at the Closing of the offering and the purchase of the Securities subscribed for thereat, this Subscription Agreement and the rights thereunder may be transferred or assigned by the subscriber and/or its successors and assigns, in whole or in part, to any person to whom all or any portion of the Securities are transferred or assigned.

This Subscription Agreement shall be governed by and construed in accordance with the laws of the State of Florida applicable to contracts made and to be performed entirely within such state.

This instrument contains the entire agreement of the parties, and there are no representations, covenants or other agreements except as stated or referred to herein. Neither this Agreement nor any provision hereof shall be modified, discharged or terminated except by an instrument in writing signed by the party against whom any waiver, change, discharge or termination is sought.

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EXHIBIT A \| Vocodia Holdings Corp Subscription Agreement & Accredited Investor Assertation 04/26/2021

<u>FOR ALL SUBSCRIBERS</u>

THE SECURITIES OF THE COMPANY WHICH MAY BE PURCHASED PURSUANT TO THIS SUBSCRIPTION AGREEMENT AND INVESTMENT LETTER HAVE NOT BEEN REGISTERED OR APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES REGULATORY AUTHORITY OF ANY STATE, NOR HAS THE COMMISSION OR ANY SUCH AUTHORITY PASSED UPON THE ACCURACY OR ADEQUACY OF THIS OFFERING. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

THESE SECURITIES ARE BEING OFFERED HEREBY IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, WHICH EXEMPTION DEPENDS UPON THE EXISTENCE OF CERTAIN FACTS, INCLUDING BUT NOT LIMITED TO THE REQUIREMENTS THAT THE SECURITIES ARE NOT BEING OFFERED THROUGH GENERAL ADVERTISING OR GENERAL SOLICITATION, ADVERTISEMENTS OR COMMUNICATIONS IN NEWSPAPERS, MAGAZINES OR OTHER MEDIA, OR BROADCASTS ON RADIO OR TELEVISION, AND THAT THE OFFERING DOCUMENTS SHALL BE TREATED AS CONFIDENTIAL BY THE PERSONS TO WHOM IT IS DELIVERED. ANY DISTRIBUTION OF THE OFFERING DOCUMENTS OR ANY PART HEREOF OR DIVULGENCE OF ANY OF ITS CONTENTS SHALL BE UNAUTHORIZED.

IN MAKING AN INVESTMENT DECISION INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE ISSUER AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED. THESE SECURITIES HAVE NOT BEEN RECOMMENDED BY ANY FEDERAL OR STATE SECURITIES COMMISSION OR REGULATORY AUTHORITY. FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOT CONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY OF THE OFFERING DOCUMENTS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION, THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.

THE OFFERING DOCUMENTS CONSTITUTE AN OFFER ONLY IF A NAME APPEARS ON THE APPROPRIATE SPACE ON THE FRONT COVER. ANY REPRODUCTION OR DISTRIBUTION OF THE OFFERING DOCUMENTS, IN WHOLE OR IN PART, OR THE DIVULGENCE OF ANY OF ITS CONTENTS TO ANY PERSON OTHER THAN THE PERSON NAMED ON THE COVER PAGE OR HIS OR HER REPRESENTATIVE(S), WITHOUT THE PRIOR WRITTEN CONSENT OF THE COMPANY IS PROHIBITED. THE COMPANY HAS THE RIGHT TO REJECT SUBSCRIPTIONS IN WHOLE OR IN PART.

THE OFFERING DOCUMENTS DO NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY STATE OR OTHER JURISDICTION IN WHICH THE PERSON MAKING SUCH OFFER OR SOLICITATION IS NOT QUALIFIED TO DO SO OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER OR OTHER SOLICITATION.

__________________ Initialing here states you will contact the company to get the necessary information in order to make the investment decision.

[THIS AREA LEFT INTENTIONALLY BLANK]

![](cm250_ex4-3img02.jpg)

EXHIBIT A \| Vocodia Holdings Corp Subscription Agreement & Accredited Investor Assertation 04/26/2021

By signing below you are acknowledging that you have read the subscription agreement and agree to the terms of this agreement and accept all risks disclosed herein, including the risk disclosure that this is a start-up phase company and likely will not succeed in its ventures. Hereby duly acknowledged and signed this day,

---

| | | |
|:---|:---|:---|
| Dated: MAY 15, 2021 |  |  |
| INDIVIDUAL SUBSCRIBERS SIGN HERE: | ENTITY SUBSCRIBERS SIGN HERE: | ENTITY SUBSCRIBERS SIGN HERE: |
|  | JAMIL J . & JAWHARAI I. SALFITY RIVEABLE LIVING TRUST | JAMIL J . & JAWHARAI I. SALFITY RIVEABLE LIVING TRUST |
| Print Name of Subscriber | Print Name of Subscriber | Print Name of Subscriber |
| By: | By: | /s/ SAFTY, Jawhera I. Salfity |
| Signature of Subscriber | Signature | Signature |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\| / / | JAMILY J. SALFITY MR. & JAWHARAI SALFITY MRS, | JAMILY J. SALFITY MR. & JAWHARAI SALFITY MRS, |
| <br> Social Security Number Date of Birth | Print Name and Title of Person Signing | Print Name and Title of Person Signing |
|  | ###-##-#### & ###-##-#### | ###-##-#### & ###-##-#### |
| Print Name of Joint Subscriber, if any | Taxpayer Identification Number | Taxpayer Identification Number |
| Signature of Joint Subscriber, if any | MAILING ADDRESS | MAILING ADDRESS |
|  | Professional Address (No P.O. Box Numbers) | Professional Address (No P.O. Box Numbers) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\| / / | 25 WILSON DR | 25 WILSON DR |
| Social Security Number and Date of Birth of Joint Subscriber | CARMEL, IN. 46032 | CARMEL, IN. 46032 |
| MAILING ADDRESS |  |  |
| Professional Address (No P.O. Box Numbers) | Phone |  |
|  | Home | 317- 345-8421 |
|  | Cell | 317-345-8421 |
|  | Email | JSALFITY @ GMAIL.COM |

---

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| | |
|:---|:---|
| Phone |  |
| Home | |
| Cell | |
| Email | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;@ |

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![](cm250_ex4-3img02.jpg)

EXHIBIT A \| Vocodia Holdings Corp Subscription Agreement & Accredited Investor Assertation 04/26/2021,

---

| | | |
|:---|:---|:---|
|  | <u>OFFERING SUMMARY</u> | <u>OFFERING SUMMARY</u> |
| Amount of Shares Subscribed For: | Vocodia Holdings Corp | Vocodia Holdings Corp |
| # 50,000.00 Shares Purchasing | Total Offering | $10000000 |
| $25,000.00 Total Purchase Price | Total shares | S 2,000,000 |
|  | Share Price | $0.50 per share |
| Payment Tendered Herewith: (Check One) | Minimum Purchase | 50,000 shares = $25,000 |
| __<u>X</u>_ Bank Wire |  |  |
| _____ Check |  |  |

---

_____ Custody Type (Check One)

_____ Individual

__<u>X</u>_ Joint tenants with right of survivorship (each must sign)

_____ Community Property\*

_____ In Partnership

_____ As custodian, trustee, or agent for:

_____ Corporation

\*If the Investor(s) is a resident of a community property state the subscription should indicate whether the Securities will be owned as separate or community property' and are to be registered jointly in the name of more than one person, the nature of the joint ownership should be indicated (i.e., tenants in common joint tenants with right of survivorship, tenants by the entirety, or other designation as may be permitted by law of the Investor's domicile).

_____ Please Check if you are a FINRA member or affiliate of a FINRA member firm.

The foregoing subscription is hereby accepted by Vocodia, LLC this 15 day of MAY*,* 2020 for an aggregate of $25,000.00 and subscriber shall receives 50,000.00 membership units. Vocodia, LLC, by its execution hereof, hereby confirms its agreement to be bound by the provisions of this Subscription Agreement.

---

| | |
|:---|:---|
|  | Vocodia Holdings Corp |
| ![](cm250_ex4-3img03.jpg) | By: |
| ![](cm250_ex4-3img03.jpg) | Name: |
| ![](cm250_ex4-3img03.jpg) | Title: |

---

![](cm250_ex4-3img02.jpg)

EXHIBIT A \| Vocodia Holdings Corp Subscription Agreement & Accredited Investor Assertation 04/26/2021

PRIVATE OFFERING

$1,000,000 for TWO MILLION SHARES of COMMON STOCK of VOCODIA

HOLDINGS CORPORATION

04/26/2021

EXHIBIT A

Subscription Agreement

&

Investment Questionnaire

\| ACCREDITED INVESTOR QUESTIONNAIRE & ASSERTATION

Vocodia Holdings Corp

![](cm250_ex4-3img02.jpg)

EXHIBIT A \| Vocodia Holdings Corp Subscription Agreement & Accredited Investor Assertation 04/26/2021

The purpose of this Questionnaire is to provide information to Vocodia Holdings Corp, a Wyoming Corporation (the "Company"), regarding your qualifications to acquire securities of the Company, in a private offering made solely to "accredited investors" as that term is defined in Rule 501 of Regulation D ("Reg. D") under the Securities Act of 1933, as amended.

Your answers will be kept strictly confidential. However, by signing this Questionnaire, you agree that the Company may present it to such parties as it deems appropriate if called upon to establish the Company's entitlement to a private offering exemption under the Securities Act or any applicable state securities law.

(Print or type your response)

1. Name: JAMIL
J. SALFITY & JAWHARA I SALFITY

Date of birth or year of organization: 04/26/1950 & 7/16/1955

2. Home address or, if other than an individual, principal office address:

75 WILSON DR

CARMEL IN 46032

__________________

Telephone number: 317-345-8421

3. I am subscribing for 50,000,00 common shares of Vocodia Holdings
Corp ownership.

4. 'This question is to be answered by individuals, not entities.

Employer:______________________________________________

Nature of business:_______________________________________

Position:_______________________________________________

Nature of duties:_______________________________________________

Business address:______________________________________________

Business telephone number:_______________________________________

5. I am an accredited investor
(as defined in Rule 501 of Reg D) because (check each appropriate description):

_____ I am a natural person whose individual net worth, or joint net worth with my spouse, exceeds $1,000,000.

_____ I am a natural person who had individual income exceeding $200,000 in each of the two most recent years and I have a reasonable expectation of reaching the same income level in the current year.

_____ I am a natural person who had joint income with my spouse exceeding $300,000 in each of the two most recent years and I have a reasonable expectation of reaching the same income level in the current year.

![](cm250_ex4-3img02.jpg)

EXHIBIT A \| Vocodia Holdings Corp Subscription Agreement & Accredited Investor Assertation 04/26/2021

_____ I am a broker-dealer registered pursuant to Section 15 *of* the Securities Exchange Act of 1934.

_____ I am a director or executive officer of the Company. (Executive officer means the president, any vice president in charge of a principal business unit, division or function, such as sales, administration or finance, any other officer who performs a policy-making function, or any other person who performs similar policy-making functions for the Company.)

_____ I am an organization described in Section 501(c)(iii) of the Internal Revenue Code, not formed for the specific purpose of acquiring Units, with total assets exceeding $5,000,000.

_____ I am a corporation, Massachusetts or similar business trust or partnership, not formed for the specific purpose of acquiring Shares, with total assets exceeding $5,000,000.

___X__ I am a trust, not formed for the specific purpose of acquiring Shares, with total assets exceeding $5,000,000 and whose purchase is directed by a "sophisticated person", as defined in Rule 506(b)(2)(ii) of Reg D.

_____ I am an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 and (i) investment decisions for such plan are made by a plan fiduciary, as defined in Section 3(21) of such Act, which is a bank, savings and loan association, insurance company or registered investment advisor or (ii) such plan has total assets exceeding $5,000,000 or (iii) if a self-directed plan, investment decisions are made solely by accredited investors.

_____ I am an entity in which all of the equity owners are accredited investors.

_____ I am _______________________

The foregoing responses are complete and accurate to the best of my knowledge and belief. I will provide such further information as may be requested by the Company to verify my responses. I will notify the Company in writing regarding any material change in my responses prior to the closing of the purchase by me of the securities subscribed for. Absent such notification, the issuance of said securities in my name shall be deemed to be an automatic affirmation by me of the truth and accuracy of the statements and information set forth above.

---

| | | |
|:---|:---|:---|
| Date: May 15, 2021 | JAMIL J. SALFITY & JAWHARA I SALFITY REVLIV TRUST | JAMIL J. SALFITY & JAWHARA I SALFITY REVLIV TRUST |
|  | Type or print name of prospective purchaser | Type or print name of prospective purchaser |
|  | By: | /s/ Jawhara I, Salfity |
|  |  | Signature of prospective purchaser |
|  |  | JAWHARA I, SALFITY |
|  |  | Type or print name of spouse, joint tenant, tenant in common or other signature, if required |
|  |  | /s/ Jawhara I. Salfity |
|  |  | Signature of spouse, joint tenant, tenant in common or other signature, if required |
|  |  | Title, if applicable |

---

![](cm250_ex4-3img02.jpg)

EXHIBIT A \| Vocodia Holdings Corp Subscription Agreement & Accredited Investor Assertation 04/26/2021

## Exhibit 4.4

**Exhibit 4.4**

**CONTRIBUTION AGREEMENT**

This CONTRIBUTION AGREEMENT (this "<u>Agreement</u>") is entered into and made effective as of August 1, 2022 (the "**Effective Date**" or "**Contribution Date**"), by and among: (1) **VOCODIA HOLDINGS CORP**, a Wyoming corporation ("**VHC**"); and (2) **JAMES V. SPOSATO** ("**Contributor**"), an individual and the sole stockholder of Click Fish Media, Inc., a Florida corporation ("**CFM**"). Each of the VHC and Contributor are hereinafter sometimes collectively referred to as "**Parties**" and individually as a "**Party.**"

**RECITALS**

WHEREAS, VHC wishes to acquire ownership of CFM, which is 100% owned by Contributor; and

WHEREAS, the Parties wish to accomplish such acquisition through a tax-free transaction pursuant to Section 351 of the Internal Revenue Code of 1986, as amended ("**Code**"), with CFM becoming a wholly-owned subsidiary of VHC;

**AGREEMENT**

NOW, THEREFORE, in consideration of the mutual promises, covenants, and agreements herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the undersigned, the Parties, intending to be legally bound, hereby agree as follows:

**ARTICLE I**

**THE CONTRIBUTION**

**Section 1.01** <u>Contribution</u>. Effective on the Effective Date, Contributor hereby contributes, assigns, transfers and delivers to VHC, and VHC hereby accepts and receives from Contributor as a contribution to VHC's capital, the outstanding capital stock of CFM (the "**Contributed Shares**"); and (B) the Company does hereby receive and accept from Contributor the Contributed Shares (the "**Contribution**"). As full consideration for the Contribution, on the Effective Date VHC shall pay to Contributor Ten Dollars ($10.00) in cash or by check.

**Section 1.02** <u>Closing</u>. The closing of the Contribution (the "**Closing**") will take place electronically as soon as practicable after the first date on or after the Effective Date on which both Parties shall have executed and delivered a counterpart of this Agreement.

**Section 1.03** <u>Actions at Closing</u>. In the Closing, the following actions will take place: (a) VHC will pay to Contributor Ten Dollars ($10.00) in cash or by check; and (b) the Parties will execute and deliver such additional documents or instruments as a Party may reasonably request or as may be necessary to further evidence and/or effect the Contribution and/or other transactions contemplated by this Agreement (collectively with this Agreement, the "<u>Transaction Documents</u>").

**Section 1.04** <u>Effect of Contribution</u>. The Contribution shall have the effects under state law as set forth herein and the applicable provisions of Section 351 of the Code. Without limiting the generality of the foregoing, and subject thereto, from and after the Closing: all property, rights, privileges, immunities, powers, franchises, licenses, authority, debts, liabilities, obligations, restrictions, and duties of CFM shall remain with CFM. Notwithstanding the foregoing or anything else to the contrary contained in this Agreement, the Parties acknowledge and agree that neither Party is making any representation or warranty as to the qualification of the Contribution as a tax-free transaction under Section 351 of the Code or as to the effect, if any, that any transaction(s) consummated prior to or after the Contribution Date has or may have on any such reorganization status. The Parties further acknowledge and agree that each: (i) has had the opportunity to obtain independent legal and tax advice with respect to the Contribution and other transactions contemplated by this Agreement, and (ii) is responsible for paying its own taxes, including without limitation, any adverse tax consequences that may result if the Contribution is determined not to qualify as a tax-free transaction under Section 351 of the Code.

![](cm250_ex4-6img01.jpg)

**ARTICLE II**

**REPRESENTATIONS AND WARRANTIES OF CONTRIBUTOR**

As an inducement to VHC to enter into this Agreement and to consummate the transactions contemplated herein, Contributor hereby represents and warrants to VHC as follows:

**Section 2.01** <u>Good Title</u>. Contributor is the sole legal and beneficial owner of, and has good and marketable title to, the Contributed Shares, which constitute 100% of the issued and outstanding shares of capital stock of CFM. CFM is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Florida. There are no issued and outstanding warrants, options, convertible securities or purchase rights issued or granted by Contributor or CFM to purchase or acquire the capital stock of any of CFM (other than this Agreement) nor are there any outstanding rights first refusal or preemptive rights pertaining to any capital stock of CFM.

**Section 2.02** <u>Power and Authority</u>. All acts required to be taken by Contributor to enter into this Agreement and the other Transaction Documents executed by Contributor and to carry out the Contribution have been properly taken. This Agreement and such other Transaction Documents constitute Contributor's legal, valid and binding obligations, enforceable against Contributor in accordance with the terms hereof and thereof.

**Section 2.03** <u>Governmental Consents</u>. All material consents, approvals, orders, or authorizations of, or registrations, qualifications, designations, declarations, or filings with any federal or state governmental authority on the part of Contributor, CFM or VHC required in connection with the consummation of the Contribution shall have been obtained prior to, and be effective as of, the Closing ("<u>Material Governmental Consents</u>").

**Section 2.04** <u>No Conflicts</u>. The execution and delivery by Contributor of this Agreement and the other Transaction Documents executed by Contributor and the performance by Contributor of his obligations hereunder and thereunder does not and will not: (i) require the consent of any governmental entity under any laws applicable to Contributor or CFM; (ii) violate any laws applicable to Contributor or CFM; or (iii) violate or breach any contractual obligation to which Contributor or CFM is a party or subject.

**ARTICLE III<br> REPRESENTATIONS AND WARRANTIES OF VHC**

As an inducement to Contributor to enter into this Agreement and to consummate the transactions contemplated herein, VHC hereby represents and warrants to Contributor as follows:

**Section 3.01** <u>Organization and Good Standing</u>. VHC is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Wyoming. VHC has full power and authority to carry on its business(es) as now conducted and to own, lease and/or operate its properties and assets.

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|:---|:---|
| 2 | ![](cm250_ex4-6img01.jpg) |

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**Section 3.02** <u>Compliance with Laws and Instruments</u>. There is no judgment, injunction, order, or decree binding upon VHC which has or would reasonably be expected to have the effect of prohibiting or materially impairing VHC's business or its ability to consummate the Contribution.

**Section 3.03** <u>No Conflict</u>. The execution and delivery by VHC of this Agreement and the other Transaction Documents executed by VHC and the performance by VHC of its obligations hereunder and thereunder does not and will not: (i) require the consent of any governmental entity under any laws applicable to VHC; (ii) violate any laws applicable to VHC; or (iii) violate or breach any contractual obligation to which VHC is a party or subject.

**ARTICLE IV<br> CONDITIONS TO CLOSING**

**Section 4.01** <u>Contributor's Conditions Precedent</u>. The obligation of Contributor to enter into and complete the Closing is subject to the fulfillment on or prior to the Contribution Date of the following conditions: (a) the representations and warranties of VHC contained in this Agreement shall be true in all material respects on and as of the Contribution Date; (b) VHC shall have performed and complied in all material respects with all covenants and agreements required by this Agreement to be performed or complied with by VHC on or prior to the Contribution Date; and (c) if requested by Contributor, VHC shall have delivered to the Contributor a certificate or certificates, dated the Contribution Date, to the foregoing effect.

**Section 4.02** <u>VHC's Conditions Precedent</u>. The obligations of VHC to enter into and complete the Closing are subject to the fulfillment on or prior to the Contribution Date of the following conditions: (a) the representations and warranties of Contributor contained in this Agreement shall be true in all material respects on and as of the Contribution Date; (b) Contributor shall have performed and complied in all material respects with all covenants and agreements required by this Agreement to be performed or complied with by him on or prior to the Contribution Date; and (c) if requested by VHC, Contributor shall have delivered to the VHC a certificate or certificates, dated the Contribution Date, to the foregoing effect.

**ARTICLE V <br> COVENANTS**

**Section 5.01** <u>Fees and Expenses</u>. All fees and expenses incurred in connection with this Agreement shall be paid by the Party incurring such fees or expenses.

**Section 5.02** <u>Continued Efforts</u>. Each Party shall use commercially reasonable efforts to (a) take all action reasonably necessary to consummate the Contribution, and (b) take such steps and do such acts as may be necessary to keep all of its representations and warranties true and correct on and as of the Contribution Date, including obtaining all Material Governmental Consents.

**ARTICLE VI**

**TERMINATION**

**Section 6.01** This Agreement may be terminated, and the Contribution abandoned at any time prior to the Contribution Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by mutual written consent of the Parties;

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|:---|:---|
| 3 | ![](cm250_ex4-6img01.jpg) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by VHC: (i) immediately if there is a material breach of any covenant or obligation of Contributor that is incapable of being cured, (ii) remains uncured, to the reasonable satisfaction of VHC, after ten (10) days of delivery of the written notice of such breach, or (iii) if VHC reasonably determines that the timely satisfaction of any condition set forth in <u>Article IV</u> have become impossible or impractical (other than as a result of any failure on the part of VHC to comply with or perform its covenants and obligations under this Agreement or any of the other Transaction Documents); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) by Contributor: (i) immediately if there is a material breach of any covenant or obligation of VHC that is incapable of being cured; (ii) remains uncured, to the reasonable satisfaction of Contributor, after ten (10) days of delivery of the written notice of such breach, or (iii) Contributor reasonably determines that the timely satisfaction of any condition set forth in <u>Article IV</u> have become impossible or impractical (other than as a result of any failure on the part of Contributor to comply with or perform any covenant or obligation set forth in this Agreement or any of the other Transaction Documents).

**ARTICLE VII<br> INDEMNIFICATION**

**Section 7.01** <u>Indemnification by Contributor</u>. Contributor agrees to indemnify, defend, and hold VHC and its stockholders, subsidiaries, officers, directors, employees, agents, successors, and assigns (such indemnified persons are collectively hereinafter referred to as the "**VHC Indemnified Parties**") harmless from and against any and all loss, liability, damage, or deficiency (including interest, penalties, judgments, costs of preparation and investigation, and attorneys' fees) (collectively "**Losses**") that any of the VHC Indemnified Parties may suffer, sustain, incur, or become subject to arising out of or due to: (i) the non- fulfillment of any covenant, undertaking, agreement, or other obligation of Contributor under this Agreement or any of the other Transaction Documents, or (ii) any misstatement, breach of, or inaccuracy of any representation or warranty of Contributor hereunder or thereunder.

**Section 7.02** <u>Indemnification by VHC</u>. VHC shall indemnify, defend, and hold the Contributor and his agents, successors, and assigns (such indemnified persons are collectively hereinafter referred to as the "**Contributor Indemnified Parties**") harmless from and against any and all Losses that any of the Contributor Indemnified Parties may suffer, sustain, incur, or become subject to arising out of or due to: (i) the non-fulfillment of any covenant, undertaking, agreement, or other obligation of VHC under this Agreement or any of the other Transaction Documents, or (ii) any misstatement, breach of, or inaccuracy of any representation or warranty of VHC hereunder or thereunder.

**Section 7.03** <u>Indemnification Procedures</u>. In the event that any legal proceedings shall be instituted or that any claim or demand ("<u>Claim</u>") shall be asserted by any person in respect of which payment may be sought under this <u>Article VII</u>, the indemnified party shall reasonably and promptly cause written notice of the assertion of any Claim of which it has knowledge which is covered by this indemnity to be forwarded to the indemnifying party. The indemnifying party shall have the right, at its sole option and expense, to be represented by counsel of its choice, which must be reasonably satisfactory to the indemnified party, and to defend against, negotiate, settle, or otherwise deal with any Claim which relates to any Losses indemnified against hereunder. If the indemnifying party elects to defend against, negotiate, settle, or otherwise deal with any Claim which relates to any Losses indemnified against hereunder, it shall within five (5) days (or sooner, if the nature of the Claim so requires) notify the indemnified party of its intent to do so. If the indemnifying party elects not to defend against, negotiate, settle, or otherwise deal with any Claim which relates to any Losses indemnified against hereunder, fails to notify the indemnified party of its election as herein provided or contests its obligation to indemnify the indemnified party for such Losses under this Agreement, the indemnified party may defend against, negotiate, settle, or otherwise deal with such Claim. If the indemnified party defends any Claim, then the indemnifying party shall reimburse the indemnified party for the expenses of defending such Claim upon submission of periodic bills. If the indemnifying party shall assume the defense of any Claim, the indemnified party may participate, at his, her, or its own expense, in the defense of such Claim; *provided*, *however*, that such indemnified party shall be entitled to participate in any such defense with separate counsel at the expense of the indemnifying party if: (i) so requested by the indemnifying party or (ii) in the reasonable opinion of counsel to the indemnified party, a conflict or potential conflict exists between the indemnified party and the indemnifying party that would make such separate representation advisable; *and provided further* that the indemnifying party shall not be required to pay for more than one such counsel for all indemnified parties in connection with any Claim. The Parties agree to cooperate fully with each other in connection with the defense, negotiation, or settlement of any such Claim.

---

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|:---|:---|
| 4 | ![](cm250_ex4-6img01.jpg) |

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**ARTICLE VIII<br> MISCELLANEOUS**

**Section 8.01** <u>Entire Agreement</u>. This Agreement contains the entire understanding of the Parties hereto with respect to the subject matter hereof. This Agreement supersedes all prior agreements and undertakings between the Parties with respect to such subject matter, written and oral. The representations and warranties in this Agreement are the product of negotiations among the Parties and are for the sole benefit of the Parties.

**Section 8.02** <u>Notices</u>. Any notices required or permitted hereunder shall be given to the appropriate party at the address specified by such Party. Such notice shall be deemed given: (i) if delivered personally, upon delivery as evidenced by delivery records; (ii) if sent by telephone facsimile, upon confirmation of receipt; (iii) if sent by certified or registered mail, postage prepaid, five (5) days after the date of mailing; (iv) if sent by nationally recognized express courier, two (2) business days after the date of placement with such courier; (v) via e-mail with delivery receipt.

**Section 8.03** <u>Successors and Assigns</u>. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors, assigns, and heirs; *provided*, *however*, that neither Party shall directly or indirectly transfer, assign or delegate any of its rights or obligations hereunder in whole or in part without the written consent of the other Party, which may be withheld in its sole discretion, and any such transfer, assignment or delegation (as the case may be without said consent shall be void *ab initio*.

**Section 8.04** <u>Public Announcements</u>. Each of the Parties will consult with each others before issuing, and provide each other the opportunity to review and comment upon, any press release, social media post or other public statements with respect to this Agreement and the transaction contemplated hereby and shall not issue any such press release, social media post or make any such public statement prior to such consultation, except as may be required by applicable law, court process, or by obligations pursuant to any listing agreement with any national securities exchange.

**Section 8.05** <u>Amendment; Waiver</u>. This Agreement may not be amended, supplemented, or changed except by an instrument in writing signed by both Parties. Either Party may waive in writing any obligation owed to it by any other Party under this Agreement or other Transaction Document(s). No waiver of any party of any default, misrepresentation, breach of warranty, or covenant hereunder, whether intentional or not, shall be deemed to extend to any prior or subsequent default, misrepresentation, breach of warranty, or covenant hereunder or thereunder, or affect in any way any rights arising by virtue of any prior or subsequent occurrence.

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|:---|:---|
| 5 | ![](cm250_ex4-6img01.jpg) |

---

**Section 8.06** <u>Counterparts</u>. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which shall be taken together and deemed to be one instrument.

**Section 8.07** <u>Governing Law</u>. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Wyoming without regard to the conflicts of laws principles thereof.

**Section 8.08** <u>Severability</u>. If any provision of this Agreement is held by a court or other tribunal of competent jurisdiction to be invalid or unenforceable for any reason, the remaining provisions shall continue in full force and effect without being impaired or invalidated in any way, and the Parties agree to replace any invalid provision with a valid provision which most closely approximates the intent and economic effect of the invalid provision.

*[Signature page follows]*

---

| | |
|:---|:---|
| 6 | ![](cm250_ex4-6img01.jpg) |

---

IN WITNESS WHEREOF, the Parties have executed this Agreement to be binding and effective as of the day and year first above written.

---

| | |
|:---|:---|
| <u>VHC:</u> | <u>VHC:</u> |
| **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
| a Wyoming corporation | a Wyoming corporation |
| By: | /s/ Brian Podolak |
| Name: | Brian Podolak |
| Title: | Chief Executive Officer |
| <u>Contributor:</u> |  |
| /s/ James V. Sposato | /s/ James V. Sposato |
| **James V. Sposato** | **James V. Sposato** |

---

## Exhibit 4.5

**Exhibit 4.5**

**SECURITIES PURCHASE AGREEMENT**

This Securities Purchase Agreement ("**Agreement**") is dated as of December 23, 2022 between Vocodia Holdings Corp, a Wyoming corporation ("**Company**"), and Emmis Capital II, LLC (including its successors and assigns, an "**Investor**").

**WHEREAS,** the Investor wish to purchase from the Company, and the Company wishes to sell and issue to the Investor: (1) 15% original issue discount senior secured convertible notes in the form set forth in <u>Appendix B</u> hereto ("**Note**"), (2) three-year warrants in the form set forth in <u>Appendix C</u> hereto ("**Warrant**"), and (3) shares of Common Stock, issuable immediately prior to the consummation of the first Liquidity Event to occur after the Closing Date, determined as provided in section 2.04(a) ("**Incentive Shares**"), all subject to the terms and conditions therein contained;

**WHEREAS**, Alexander Capital L.P. ("**Placement Agent**") is acting as the exclusive placement agent for the offering of Notes, Warrants and Incentive Shares contemplated by this Agreement ("**Offering**"); and

**WHEREAS**, the Company and Investor are executing and delivering this Agreement in reliance upon an exemption from securities registration requirements of the Securities Act of 1933, as amended ("**Securities Act**"), afforded by the provisions of Section 4(a)(2) and/or Rule 506(b) of Regulation D promulgated thereunder by the U.S. Securities and Exchange Commission;

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

**ARTICLE I. DEFINITIONS**

Section 1.01. <u>Definitions</u>. In addition to the terms defined elsewhere in this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) capitalized terms that are not otherwise defined herein have the meanings given to such terms in the Notes (as defined herein), and (b) the following terms have the meanings set forth in this Agreement:

"<u>$</u>" or "<u>USD</u>" means United States Dollars.

"<u>Action</u>" shall have the meaning ascribed to such term in section 3.01(j).

"<u>Affiliate</u>" means any Person that, directly or indirectly through one or more intermediaries, controls intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

"<u>Board of Directors</u>" means the board of directors of the Company.

"<u>Business Day</u>" means any day except Saturday, Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.

"<u>Closing</u>" means the closing of the purchase and sale of the Securities pursuant to section 2.01.

***SECURITIES PURCHASE AGREEMENT***

"<u>Closing Date</u>" means for any Securities, the Business Day when: (i) all of the Transaction Documents for such Securities have been executed and delivered by the applicable parties thereto, and conditions precedent to the applicable Investor' obligations to pay the Subscription Amount; and (ii) the Company's obligations to deliver such Securities have been satisfied or waived.

"<u>Commission</u>" means the United States Securities and Exchange Commission.

"<u>Common Stock</u>" means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such securities may hereafter be reclassified or changed.

"<u>Confidential Investor Questionnaire</u>" means the confidential Investor Questionnaire attached as <u>Appendix A</u> hereto.

"<u>Conversion Shares</u>" has the meaning provided in the Notes.

"<u>Conversion Price</u>" has the meaning provided in the Notes.

"<u>Default Contingency Warrants</u>" has the meaning ascribed to such term in section 2.04(b).

"<u>Exempt Issuance</u>" means the issuance of: (i) shares of Common Stock or options to employees, officers, or directors of the Company pursuant to any stock or option plan duly adopted by a majority of the Board of Directors of the Company or a majority of the members of a committee of directors established for such purpose; and (ii) shares of Common Stock issued to an Investor in repayment of interest under any Note as agreed upon by the Company and the applicable Investor.

"<u>Exchange Act</u>" means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

"<u>FINRA</u>" means the Financial Industry Regulatory Authority.

"<u>GAAP</u>" shall have the meaning ascribed to such term in section 3.01(h).

"<u>Incentive Shares</u>" has the meaning ascribed to such term in the recitals hereof.

"<u>Intellectual Property Rights</u>" shall have the meaning ascribed to such term in section 3.01(o).

"<u>Legend Removal Date</u>" shall have the meaning ascribed to such term in section 4.01(c).

"<u>Liens</u>" shall mean a lien, charge, security interest, encumbrance, right of first refusal, preemptive right or other restriction or adverse claim of a third party.

"<u>Liquidity Event</u>" has the meaning provided in the Notes.

"<u>Material Adverse Effect</u>" shall have the meaning ascribed to such term in section 3.01(b).

"<u>Maximum Offering Amount</u>" means the Subscription Amount of up to Two Hundred Thousand U.S. Dollars ($000,000), equating to an aggregate maximum Original Principal Amount of Notes of $230,000 after applying the Original Issue Discount.

"<u>Note</u>" means the 15% original issue discount senior secured convertible note issued by the Company to the Investor hereunder, in the form of <u>Appendix B</u> attached hereto. The Note: (i) will mature on the earlier to occur of (x) the date of the first Liquidity Event to occur after the Closing Date and (y) the date that is nine months after the Closing Date (as the case may be, the "<u>Maturity Date</u>"), (ii) will be due and payable on the Maturity Date in either cash or Conversion Shares (at the Conversion Price), and (iii) may be paid by the Company prior to the Maturity Date at one hundred twenty percent (120%) of the Original Principal Amount.

***SECURITIES PURCHASE AGREEMENT***

"Original <u>Issue Discoun</u>t" and "<u>OID</u>" mean 15%.

"<u>Original Principal Amount</u>" means, with respect to the Investor's Note, the amount obtained by *dividing*: (i) the Subscription Amount for the Note under this Agreement *by* (ii) 100% *less* the OID (or 85%).

"<u>Other Incentive Securities</u>" has the meaning ascribed to such term section 2.04(a).

"<u>Person</u>" means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

"<u>Permits</u>" shall have the meaning ascribed to such term in section 3.01(m).

"<u>Placement Agent</u>" shall have the meaning ascribed to such term in the recitals hereof.

"<u>Placement Agent Warrant</u>" shall have the meaning ascribed to such term in section 3.01(q).

"<u>Proceeding</u>" means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial proceeding, such as a deposition), whether commenced or threatened.

"<u>Registration Rights Agreement</u>" means the Registration Rights Agreement between the Company and holders of Registrable Securities (as defined therein), in the form of <u>Appendix E</u> attached hereto. Under the Registration Rights Agreement (among other things) the Conversion Shares, Warrant Shares, and Incentive Shares will be registered under the Securities Act and State Securities Laws together with the shares of Common Stock so registered in the first Liquidity Event to occur after the Closing Date.

"<u>Required Approvals</u>" shall have the meaning ascribed to such term in section 3.01(e).

"<u>Required Minimum</u>" means, as of any date, upon the request of the holder of the Note ("<u>Holder</u>"), the maximum aggregate number of shares of Underlying Securities then issued or potentially issuable in the future pursuant to the conversion of the Note, Warrants and (if issued as provided under this Agreement) Default Contingency Warrants, ignoring any conversion or exercise limits set forth therein.

"<u>Rule 144</u>" means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such rule.

"<u>Securities</u>" means the Note, Warrants, Incentive Shares and (if issued as provided under this Agreement) Default Contingency Warrants.

"<u>Securities Act</u>" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

"<u>Security Agreement</u>" means the Security Agreement by and among the Company and the Investor in the form of <u>Appendix D</u> attached hereto.

***SECURITIES PURCHASE AGREEMENT***

"<u>State Securities Laws</u>" means the securities (or "blue sky") rules, regulations or other similar laws of a particular state.

"<u>Subscription Amount</u>" means, as to each Investor, the aggregate amount to be paid for the Securities purchased hereunder as specified below such Investor's name on <u>Annex A</u> of this Agreement and next to the heading "Aggregate Subscription Amount," in United States dollars and in immediately available funds.

"<u>Subsidiary</u>" means any subsidiary of the Company as set forth in section 3.01(a) and shall, where applicable, include any direct or indirect subsidiary of the Company formed or acquired after the date hereof.

"<u>Termination Date</u>" means a date determined by the Company on which the offering of the Securities shall terminate.

"<u>Trading Day</u>" means a day on which the principal Trading Market is open for trading.

"<u>Trading Market</u>" means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the NYSE, the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, or the Nasdaq Global Select Market (or any successors to any of the foregoing). the first Liquidity Event to occur after the Closing Date.

"<u>Transaction Documents</u>" means this Agreement, the Notes, the Warrants, the Security Agreement and all appendices, exhibits and schedules hereto and thereto and any other documents or agreements executed in connection with the transactions contemplated hereunder.

"<u>Underlying Securities</u>" means the Conversion Shares and Warrant Shares.

"<u>Warrants</u>" means the warrants issued by the Company to the Investor hereunder, in the form of <u>Appendix C</u> attached hereto. The Warrants: (i) will become exercisable immediately prior to the consummation of the first Liquidity Event to occur after the Closing Date and expire five (5) years after the Closing Date, and (ii) will be exercisable at an exercise price of one hundred twenty percent (120%) of the Conversion Price.

"<u>Warrant Shares</u>" means the shares of Common Stock (or other securities) issuable upon the exercise of the Warrants and (if issued as provided under this Agreement) Default Contingency Warrants.

**ARTICLE II. PURCHASE AND SALE**

Section 2.01 <u>Closing</u>. On the Closing Date, upon the terms and subject to the conditions set forth herein, substantially concurrent with the execution and delivery of this Agreement by the parties hereto, the Company agrees to sell, and the Investor agree to purchase, up to the Maximum Offering Amount. At the Closing, the Investor shall deliver, via wire transfer, immediately available funds equal to the Investor's Subscription Amount to the Company and the Company shall deliver to the Investor its Note, Warrant and Incentive Shares. The Company and each Investor shall deliver the other items set forth in section 2.02 deliverable at the Closing. Upon satisfaction of the conditions set forth in section 2.02 and section 2.03, the Closing shall be closed remotely by electronic delivery of documents. The Closing Date for any Securities shall be the date indicated on the applicable Investor signature pages attached hereto and the final Closing Date shall be no later than the Termination Date.

***SECURITIES PURCHASE AGREEMENT***

Section 2.02 <u>Closing Deliverables</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On or prior to the Closing Date, the Company shall deliver or cause to be delivered to the Investor the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) this Agreement executed by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a Note, registered in the name of the Investor, with a principal amount equal to the Investor's Original Principal Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a Warrant, registered in the name of the Investor, to purchase a number of shares of Common Stock determined
by *dividing* (A) 50% of the Original Principal Amount of the Investor's Note *by* (B) the offering price per share of
Common Stock paid in the first Liquidity Event to occur after the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Security Agreement executed by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Registration Rights Agreement executed by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) an officer's certificate of the Company certifying the Company's: (A) certified charter (or
similar formation document); (B) good standing certificate in its state of incorporation (or formation); (C) bylaws (or similar governing
document); (D) resolutions of its board of directors (or similar governing body) approving and authorizing the execution, delivery and
performance of the Transaction Documents and the transactions contemplated thereby; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) On or prior to the Closing Date, the Investor shall deliver or cause to be delivered to the Company the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) this Agreement executed by the Investor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Investor's Subscription Amount, by wire transfer to counsel of the Company pursuant to the wiring instructions set forth
in section 2.03(c);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a duly completed and signed Confidential Investor Questionnaire;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Security Agreement executed by the Investor; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Registration Rights Agreement executed by the Investor.

Section 2.03 <u>Closing Conditions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The obligations of the Company hereunder in connection with the Closing are subject to the following conditions being met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the accuracy in all material respects on the Closing Date of the representations and warranties of the Investor contained herein;

***SECURITIES PURCHASE AGREEMENT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) all obligations, covenants and agreements of the Investor required to be performed at or prior to the
Closing Date shall have been performed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the delivery by the Investor of the items set forth in section 2.02(b) of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The obligations of the Investor hereunder in connection with the Closing are subject to the following conditions being met (it being understood that the Company may waive any of the conditions for any Closing hereafter):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the accuracy in all material respects (or, to the extent representations or warranties are qualified by
materiality or Material Adverse Effect, in all respects) when made and on the Closing Date of the representations and warranties of the
Company contained herein (unless as of a specific date therein in which case they shall be accurate as of such date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) all obligations, covenants and agreements of the Company required to be performed at or prior to the Closing
Date shall have been performed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the delivery by the Company of the items set forth in section 2.02(a) of this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) there shall have been no Material Adverse Effect with respect to the Company since the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) The wiring instructions for counsel of the Company are as follows:

---

| | |
|:---|:---|
| Bank Name: | Signature Bank |
|  | 565 Fifth Avenue |
|  | New York, New York 10017 |
| Routing No.: | 026013576 |
| Account No.: | 1504595478 |
| Account Title: | Carmel, Milazzo & Feil LLP Escrow Account |
| Swift Code:\* | SIGNUS33 |
| (\*International only) |  |

---

Section 2.04

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Incentive Shares</u>. Immediately prior to the consummation of the first Liquidity Event to occur after the Closing Date, the Company will issue and deliver to the Investor 5,000 shares of Common Stock ("**Incentive Shares**"); *provided, however,* that in the event that, during the period commencing on the Closing Date and ending on (and including) the date on which the first Liquidity Event thereafter occurs, the Company effects any corporate action or transaction as to which any of the adjustment provisions of the Notes and/or Warrants with respect to the Conversion Shares and/or Warrant Shares (respectively) that are thereafter issuable upon conversion or exercise thereof (respectively) applies, then, within one Business Day thereafter, the Company shall issue and deliver to each Investor such additional securities as shall have become issuable on such Investor's Incentive Shares as a result of such corporate action or transaction (unless and to the extent previously issued in respect of such Incentive Shares) (as the case may be, "**Other Incentive Securities**").

***SECURITIES PURCHASE AGREEMENT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Default Contingency Warrants</u>. The aggregate number of Warrant Shares initially issuable upon exercise of the respective Warrants issued in connection each Investor's Note (as to each Warrant, the "**Initial Number of Warrant Shares**") has been <u>determined</u> by the parties hereto based on a 50% warrant coverage of the Original Principal Amount of the respective Notes (the "**Transaction Warrant Coverage**"). The parties have further agreed that in the event of an Event of Default under (and as defined in) the Notes, then such "Transaction Warrant Coverage" shall automatically be increased by a factor of fifty percent (50%) — to seventy-five percent (75%). Therefore, in the event that at any time after the Closing Date an Event of Default under (and as defined in) the Notes shall occur, then: within one Business Day thereafter the Company shall issue and deliver to each Investor an additional Warrant, to purchase a number of shares equal to the *product of*: (i) the Initial Number of Warrant Shares of the Warrant issued to such Investor on the Closing Date and (ii) fifty percent (50%) (such additional Warrants, as the case may be, "**Default Contingency Warrants**").

**ARTICLE III. REPRESENTATIONS AND WARRANTIES**

Section 3.01 <u>Representations and Warranties of the Company</u>. The Company hereby makes the following representations and warranties to each Investor as of the date hereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Subsidiaries</u>. The Company does not have any Subsidiaries other than: (i) Click Fish Media, Inc., a Florida corporation ("**Click Fish**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Organization and Qualification</u>. The Company is an entity duly incorporated or otherwise organized, validly existing and in good standing under the laws of the State of Wyoming, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. The Company is not in violation or default of any of the provisions of its articles of incorporation or bylaws, each, as amended and in effect. A complete and correct copy of the Company's certificate or articles of incorporation and bylaws, each as amended and in effect on the date of this Agreement and as they will be in effect on the Closing Date, is attached to the officer's certificate referenced in section 2.02(a)(vi). There are no other organizational or charter documents of the Company. Each Subsidiary is an entity duly incorporated or otherwise organized, validly existing and in good standing under the laws of its jurisdiction of incorporation or organization, has the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. The Company and each Subsidiary is duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be expected to result in: (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document; (ii) a material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company and its Subsidiaries, taken as a whole, or any of its material assets or lines of business, individually; or (iii) a material adverse effect on the Company's ability to perform in any material respect on a timely basis its obligations under any Transaction Document (any of (i), (ii) or (iii), a "**Material Adverse Effect**") and no Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority or qualification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Authorization; Enforcement</u>. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of each of the Transaction Documents by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, the Board of Directors or the Company's stockholders in connection therewith other than in connection with the Required Approvals. Each Transaction Document to which it is a party has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors' rights generally; (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies; and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

***SECURITIES PURCHASE AGREEMENT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>No Conflicts</u>. The execution, delivery and performance by the Company of the Transaction Documents to which it is a party, the issuance and sale of the Securities, the issuance of the Underlying Securities in accordance with the provisions of the Transaction Documents, and the consummation by the Company of the other transactions contemplated hereby and thereby do not and will not: (i) conflict with or violate any provision of the Company's certificate of incorporation, bylaws or other organizational or charter documents; (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon any of the properties or assets of the Company or any Subsidiary (other than the Liens granted under the Security Agreement), or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which any property or asset of the Company or any Subsidiary is bound or affected; or (iii) subject to the Required Approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company or any Subsidiary is subject (including federal and State Securities Laws and regulations), or by which any property or asset of the Company or any Subsidiary is bound or affected; except in the case of each of clause (ii), such as could 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Filings, Consents and Approvals</u>. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or <u>registration</u> with, any court or other federal, state, local or other governmental authority or other Person in connection with the execution, delivery and performance by the Company of the Transaction Documents, other than: (i) such consents, waivers, or authorizations as have been obtained before the Closing; and (ii) the filing of Form D with the Commission and such filings as are required to be made under applicable State Securities Laws (collectively, the "**Required Approvals**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Issuance of the Securities</u>. The Securities are duly authorized and, when issued and/or paid for in accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens other than restrictions on transfer provided for in the Transaction Documents. The Underlying Securities, when issued in accordance with the terms of the Securities, will be validly issued, fully paid and nonassessable,free and clear of all Liens other than restrictions on transfer provided for in the Securities. The Company has reserved from its duly authorized capital stock a number of shares of Common Stock for issuance of the Incentive Shares and Underlying Securities at least equal to the Required Minimum on the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Capitalization</u>. The Company has authorized 500,000,000 shares of Common Stock and 4,000,000 shares of preferred stock outstanding. As of the date of this Agreement, 62,038,575 shares of Common Stock issued and outstanding. There are no outstanding options (other than pursuant to the Company's equity incentive plan), warrants, script rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any person any right to subscribe for or acquire, any shares of Common Stock, or contracts, commitments, understandings or arrangements by which the Company is or may become bound to issue additional shares of Common Stock, or securities or rights convertible or exchangeable into shares of Common Stock. No Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the Transaction Documents except for such, if any, as will have been validly waived before the Closing. The issuance and sale of the Securities will not obligate the Company to issue shares of Common Stock or other securities to any Person (other than the Investor) and will not result in a right of any holder of Company securities to adjust the exercise, conversion, exchange or reset price under any of such securities. All of the issued and outstanding shares of capital stock of the Subsidiaries is owned by the Company or another Subsidiary, and there are no outstanding options, warrants, script rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any person any right to subscribe for or acquire, any shares of capital stock, or contracts, commitments, understandings or arrangements by which any Subsidiary is or may become bound to issue additional shares of capital stock, or securities or rights convertible or exchangeable into shares of capital stock. All of the outstanding shares of capital stock of the Company and Subsidiaries are validly issued, fully paid and nonassessable, have been issued in compliance with all federal law and State Securities Laws, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities. No further approval or authorization of any stockholder, the Board of Directors or others is required for the issuance and sale of the Securities, except for such approvals as have been obtained prior to Closing. There are no stockholders' agreements, voting agreements or voting trusts, investor rights agreements, rights of first refusal, preemptive rights, co-sale agreements, drag-along agreements, transfer restrictions or other similar agreements with respect to the Company's or any Subsidiary's capital stock to which the Company or any Subsidiary is a party or, to the knowledge of the Company, between or among any of the Company's stockholders.

***SECURITIES PURCHASE AGREEMENT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Financial Statements</u>. The financial statements of the Company and its consolidated Subsidiaries made available to the Placement Agent and Investor prior to the date hereof have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis during the periods involved ("**GAAP**"), except as may be otherwise specified in such financial statements or the notes thereto, and fairly present in all material respects the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Undisclosed Liabilities</u>. The Company and its Subsidiaries have no liability, indebtedness, obligation, expense, claim, deficiency or guaranty of any type, whether accrued, absolute, contingent, matured, unmatured or otherwise, required to be reflected in financial statements in accordance with GAAP, which individually or in the aggregate: (A) has not been reflected in the latest balance sheet included in the financial statements referenced hereinabove; or (B) has not arisen: (i) in the ordinary course of business, consistent with past practices, since the date of the latest balance sheet included in such financial statements in an amount that does not exceed $50,000 in any one case or $100,000 in the aggregate, (ii) pursuant to or in connection with this Agreement or other Transaction Document, or (c) are executory performance obligations to be performed after the date hereof in the ordinary course of business pursuant to agreement(s) entered into in the ordinary course of business, consistent with past practices. The Company is not in default with respect to any Indebtedness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Material Changes</u>. Since the date of the latest financial statements made available to the Placement <u>Agent</u> and Investor prior to the date hereof: (A) there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect; (B) the Company and its Subsidiaries have not incurred any liabilities (contingent or otherwise) other than (i) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice, and (ii) liabilities not required to be reflected in the Company's financial statements pursuant to GAAP; (C) the Company and its Subsidiaries have not altered their method of accounting; (D) the Company and its Subsidiaries have not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock except, in each case, in favor of the Company or another Subsidiary; and (E) the Company and its Subsidiaries have not issued any equity securities except (i) in favor of the Company or another Subsidiary or (ii) by the Company an officer, director or Affiliate pursuant to an existing Company equity incentive plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Litigation</u>. There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company, threatened against or affecting the Company or any Subsidiary, or any of their respective properties, before or by any court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an "**Action**") which: (A) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Securities; or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect. None of the Company, any Subsidiary or any director or officer thereof, is or has been the subject of any Action involving a claim of violation of or liability under any of the following: (x) the Securities Act, the Exchange Act, the FINRA rules or any State Securities Laws; (y) breach of fiduciary duty; or (z) fraud (statutory or common law), embezzlement, misappropriation or conversion of property or rights, or any other crime involving deceit.

***SECURITIES PURCHASE AGREEMENT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Labor Relations</u>. No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of the Company or any Subsidiary which could reasonably be expected to result in a Material Adverse Effect. None of the Company's or any Subsidiary's <u>employees</u> is a member of a union that relates to such employee's relationship with the Company or any Subsidiary, and the Company and its Subsidiaries are not a party to any collective bargaining agreement. The Company believes that its relationships with its employees are good. No executive officer, to the knowledge of the Company, is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement or non- competition agreement, or any other contract or agreement or any restrictive covenant in favor of any third party, and the continued employment of each such executive officer does not subject the Company or any Subsidiary to any liability with respect to any of the foregoing matters. To the best of the Company's knowledge, it and its Subsidiaries are in compliance with all U.S. federal, state, local and foreign laws and regulations relating to employment and employment practices, terms and conditions of employment and wages and hours, except where the failure to be in compliance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Compliance</u>. The Company and each Subsidiary: (i) is neither in default under nor 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 not in violation of any order of any court, arbitrator or governmental body; and (iii) is not and has not been in material violation of any statute, law, rule or regulation of any governmental authority, including without limitation all foreign, federal, state and local laws applicable to its business and all such laws that affect the environment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Regulatory Permits</u>. The Company and its Subsidiaries possess all certificates, authorizations and permits issued by the appropriate federal, state, local or foreign regulatory authorities necessary to conduct its business ("**Permits**"), and the Company and its Subsidiaries have not received any notice of proceedings relating to the revocation or modification of any Permit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Title to Assets</u>. The Company and its Subsidiaries have good and marketable title in fee simple to all real property and good and marketable title in all personal property owned by it that, in each case, is material to the business of the Company and its Subsidiaries, in each case free and clear of all Liens, except for (i) Liens that do not materially and adversely (x) affect the value of such property or (y) interfere with the use made and proposed to be made of such property by the Company and its Subsidiaries and (ii) Liens for the payment of federal, state <u>or</u> other taxes, the payment of which is neither delinquent nor subject to penalties in any material respect. Any real property and facilities held under lease by the Company or a Subsidiary is held by it under valid, subsisting and enforceable leases with which the Company or such Subsidiary (as applicable) are in compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>Patents and Trademarks</u>. (i) The Company and its Subsidiaries has, or has rights to use, all patents, patent applications, trademarks, trademark applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights and similar rights as necessary or material for use in connection with its business and which the failure to so have could reasonably be expected to have a Material Adverse Effect (collectively, the "**Intellectual Property Rights**"); (ii) the Company and its Subsidiaries have not received a notice (written or otherwise) that any of the Intellectual Property Rights violates or infringes upon the intellectual property rights of any other Person; (iii) all Intellectual Property Rights are enforceable by the Company or a Subsidiary, and there is no existing infringement by any other Person of any of the Intellectual Property Rights, except where the failure to be so enforceable or for such infringements as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and (iv) the Company and its Subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality and value of all of its Intellectual Property Rights, except where failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

***SECURITIES PURCHASE AGREEMENT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) <u>Transactions with Officers, Directors and Employees</u>. None of the officers or directors of the Company or its Subsidiaries and, to the knowledge of the Company, none of the employees of <u>the</u> Company or its Subsidiaries, is presently a party to any transaction with the Company (other than for services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from, any such officer, director or employee or, to the knowledge of the Company, any entity in which any such officer, director or employee has a substantial interest or is an officer, director, trustee, member or partner, in each case in excess other than for: (x) payment of salary or fees for services rendered; (y) reimbursement for expenses incurred on behalf of the Company or a Subsidiary; and (z) other employee benefits, including stock option agreements under any stock option plan of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) <u>Certain Fees</u>. Other than fees, commissions and expense reimbursement payable to the Placement Agent (which include: (i) a cash commission of seven percent (7%) of the proceeds raised in the Offering from Investors introduced to the Company by the Placement Agent; and (ii) the other matters set forth in the engagement letter between the Company and the Placement Agent dated August 31, 2021), no brokerage or finder's fees or commissions are or will be payable by the Company or any Subsidiary to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the Offering or any of the transactions contemplated by the Transaction Documents. The Investors shall have no obligation with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this section 3.01(r) that may be due in connection with the Offering or any of the transactions contemplated by the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) <u>Private Placement</u>. Assuming the accuracy of the Investor's representations and warranties <u>set</u> forth in section 3.02, no registration under the Securities Act is required for the offer and sale of the Securities by the Company to the Investor as contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) <u>Investment Company</u>. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Securities will not be or be an Affiliate of, an 'investment company' within the meaning of the Investment Company Act of 1940, as amended. The Company shall conduct its business in a manner so that it will not be an 'investment company' subject to registration under the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) <u>Registration Rights</u>. Other than pursuant to the Transaction Documents, no Person has any right to demand the Company to file a registration statement under the Securities Act covering the sale of any securities of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>Application of Takeover Protections</u>. The Company and the Board of Directors have taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Company's certificate of incorporation or bylaws or the laws of its state of incorporation that is or could become applicable to the Investor as a result of the Investor and the Company fulfilling their obligations or exercising their rights under the Transaction Documents, including without limitation as a result of the Company's issuance of the Securities or Underlying Securities and/or the Investors' ownership of Securities or Underlying Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) <u>Disclosure</u>. Except with respect to: (i) the material terms and conditions of the transactions contemplated by the Transaction Documents; and (ii) information given to the Investor, if any, which the Company hereby confirms will not constitute material non-public information, the Company confirms that neither it nor any other Person acting on its behalf has provided the Investor or <u>their</u> agents or counsel withany information that it believes constitutes or might constitute material, nonpublic information. The Company understands and confirms that the Investor will rely on the foregoing representation in effecting transactions in securities of the Company. All disclosure furnished by or on behalf of the Company to the Investor regarding the Company, its business and the transactions contemplated hereby, is true and correct and does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.

***SECURITIES PURCHASE AGREEMENT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) <u>No Integrated Offering</u>. Assuming the accuracy of the Investor's representations and warranties set forth in section 3.02, 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 this offering of the Securities to be integrated with prior offerings by the Company for purposes of the Securities Act which would require the registration of any such securities under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) <u>Solvency</u>. Based on the consolidated financial condition of the Company as of the Closing Date after giving effect to the receipt by the Company of the proceeds from the sale <u>of</u> the Securities hereunder: (i) the fair saleable value of the Company's assets exceeds the amount that will be required to be paid on or in respect of the Company's existing debts and other liabilities (including known contingent liabilities) as they mature; (ii) the Company's assets do not constitute unreasonably small capital to carry on its business as now conducted and as proposed to be conducted including its capital needs taking into account the particular capital requirements of the business conducted by the Company, and projected capital requirements and capital availability thereof; and (iii) the current cash flow of the Company, together with the proceeds the Company would receive, were it to liquidate all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in respect of its liabilities when such amounts are required to be paid. The Company will not, after the Closing Date, incur debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of its debt). The Company has no knowledge of any facts or circumstances which lead it to believe that it will file for reorganization or liquidation under the bankruptcy or reorganization laws of any jurisdiction within one year from the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) <u>Tax Status</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 and its Subsidiaries have filed all federal, state and foreign income and franchise tax returns and have paid or accrued all taxes shown as due thereon, and the Company has no knowledge of a tax deficiency which has been asserted or threatened against the Company or any Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) <u>No General Solicitation</u>. Neither the Company nor any Person acting on behalf of the Company has offered or sold any of the Securities or Underlying Securities by any form of general solicitation or general advertising. The Company has offered the Securities and Underlying Securities for sale only to the Investor and certain other "accredited investors" within the meaning of Rule 501 under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) <u>Insurance</u>. The Company and its Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as management of the Company reasonably believes to be prudent and customary in the businesses in which the Company and its Subsidiaries are engaged. Neither the Company nor any of the Subsidiaries has been refused any insurance coverage sought or applied for, and the Company has no reason to believe that it will not be able to renew all existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) <u>Acknowledgment Regarding Investor's Purchase of Securities</u>. The Company acknowledges and agrees that the Investor is acting solely in the capacity of an arm's length purchaser with respect to the Transaction Documents and the transactions contemplated thereby. The Company further acknowledges that the Investor is acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice given by any Investor or any of their respective representatives or agents in connection with the Transaction Documents and the transactions contemplated thereby is merely incidental to the Investor's purchase of the Securities. The Company further represents to each Investor that the Company's decision to enter into this Agreement and the other Transaction Documents has been based solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives.

 

***SECURITIES PURCHASE AGREEMENT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) <u>No Disqualification Events</u>. With respect to Securities to be offered and sold hereunder in reliance on Rule 506(b) under the Securities Act ("**Regulation D Securities**"), none of the Company, any of its predecessors, any affiliated issuer, any director, executive officer, other officer of the Company participating in the offering hereunder, any beneficial owner of twenty percent (20%) or more of the Company's outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the Securities Act) connected with the Company in any capacity at the time of sale (each, an "**Issuer Covered Person**" and, together, "**Issuer Covered Persons**") is subject to any of the 'Bad Actor' disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a "**Disqualification Event**"), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event. The Company has complied, to the extent applicable, with its disclosure obligations under Rule 506(e), and has furnished to the Investos a copy of any disclosures provided thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) <u>Other Covered Persons</u>. The Company is not aware of any person (other than any Issuer Covered Person or the Placement Agent) that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with the sale of any Regulation D Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) <u>Notice of Disqualification Events</u>. The Company will notify the Investor in writing, prior to the Closing Date of: (i) any Disqualification Event relating to any Issuer Covered Person; and (ii) any event that would, with the passage of time, become a Disqualification Event relating to any Issuer Covered Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) <u>Foreign Corrupt Practices</u>. Neither the Company and its Subsidiaries, and to the knowledge of the Company, no agent or other person acting on behalf of the Company or any Subsidiary, has: (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity; (ii) made any unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate funds; (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any person acting on its behalf of which the Company is aware) which is in violation of law; or (iv) violated in any material respect any provision of the Foreign Corrupt Practices Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) <u>Office of Foreign Assets Control</u>. Neither the Company nor any Subsidiary nor, to the Company's knowledge, any director, officer, agent, employee or affiliate of the Company or any Subsidiary, is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department ("**OFAC**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh) <u>U.S. Real Property Holding Corporation</u>. The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon an Investor's request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Bank Holding Company Act</u>. Neither the Company nor any of its Affiliates is subject to the Bank Holding Company Act of 1956, as amended ("**BHCA**") and to regulation by the Board of Governors of the Federal Reserve System ("**Federal Reserve**"). Neither the Company nor any of its Affiliates owns or controls, directly or indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities or twenty- five percent (25%) or more of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither the Company nor any of its Affiliates exercises a controlling influence over the management or policies of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj) <u>Money Laundering</u>. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the "**Money Laundering Laws**"), and no Action or Proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of the Company**,** threatened.

***SECURITIES PURCHASE AGREEMENT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk) <u>Representations</u>. The representations and warranties of the Company contained in this Agreement, and the certificate(s) furnished or to be furnished to the Investor at the Closing, when taken as a whole, do not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained herein or therein not misleading in light of the circumstances under which they were made. The Company acknowledges and agrees that the representations contained in section 3.02 shall not modify, amend or affect such Investor's right to rely on the Company's representations and warranties contained in this section 3.01 or elsewhere in this Agreement or any representations and warranties contained in any other Transaction Document, or any other document or instrument executed and/or delivered in connection with this Agreement or the consummation of the transactions contemplated hereby.

Section 3.02 <u>Representations and Warranties of the Investor</u>.

The Investor hereby represents and warrants as of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein, in which case they shall be accurate as of such date):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Authority; Organization</u>. The Investor has full power and authority to enter into this Agreement and to perform all obligations required to be performed by it hereunder. If an entity, the Investor is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization with full right, corporate power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance by such Investor of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate or similar action on the part of such Investor. Each Transaction Document to which it is a party has been duly executed by such Investor, and when delivered by such Investor in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Investor, enforceable against it in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors' rights generally; (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies; and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Own Account</u>. The Investor understands that the Securities are 'restricted securities' and have not been registered under the Securities Act or any applicable State Securities Law and is acquiring the Securities as principal for its own account and not with a view to or for distributing or reselling such Securities or any part thereof in violation of the Securities Act or any applicable State Securities Law, has no present intention of distributing any of such Securities in violation of the Securities Act or any applicable State Securities Law and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of such Securities (this representation and warranty not limiting such Investor's right to sell the Securities in compliance with applicable federal and State Securities Laws) in violation of the Securities Act or any applicable State Securities Law. Such Investor is acquiring the Securities hereunder in the ordinary course of its business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Non-Transferrable</u>. The Investor agrees: (i) that the Investor will not sell, assign, pledge, give, transfer or otherwise dispose of the Securities or Underlying Securities or any interest therein, or make any offer or attempt to do any of the foregoing, except pursuant to a registration of the Securities under the Securities Act and all applicable State Securities Laws, or in a transaction which is exempt from the registration provisions of the Securities Act and all applicable State Securities Laws; (ii) that the certificates representing the Securities and Underlying Securities will bear a legend making reference to the foregoing restrictions; and (iii) that the Company and its affiliates shall not be required to give effect to any purported transfer of such Securities and Underlying Securities except upon compliance with the foregoing restrictions.

***SECURITIES PURCHASE AGREEMENT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Investor Status</u>. Such Investor is an "accredited investor" as defined in Rule 501(a) under the Securities Act. The undersigned agrees to furnish any additional information requested by the Company or any of its Affiliates to assure compliance with applicable U.S. federal and state securities laws in connection with the purchase and sale of the Securities. The undersigned has completed the Confidential Investor Questionnaire contained in <u>Appendix A</u> and the information contained therein is complete and accurate as of the date thereof and is hereby affirmed as of the Closing Date. Any information that has been furnished or that will be furnished by the undersigned to evidence its status as an accredited investor is accurate and complete, and does not contain any misrepresentation or material omission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Experience of Such Investor</u>. Such Investor, either alone or together with its representatives, has such knowledge, sophistication, and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the merits and risks of such investment. Such Investor is able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>No Trading Market</u>. Such Investor acknowledges that there is currently no Trading Market for the Securities and Underlying Securities and that none is expected to develop for the Securities and a Trading Market may not develop for the Underlying Securities unless a Liquidity Event occurs. The undersigned understands that no public market now exists for the Securities and Underlying Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>General Solicitation</u>. Such Investor undersigned acknowledges that neither the Company nor any other person offered to sell the Securities to it by means of any form of general solicitation or advertising, including but not limited to: (i) any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio; or (ii) any seminar or meeting whose attendees were invited by any general solicitation or general advertising.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Confidentiality</u>. Other than to other Persons party to this Agreement and its advisors who have agreed to keep information confidential or have a fiduciary obligation to keep such information confidential, such Investor has maintained the confidentiality of all disclosures made to it in connection with the transaction (including the existence and terms of this transaction).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Foreign Investor</u>. If such Investor is not a United States person, such Investor represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any invitation to subscribe for the Securities or any use of this Agreement, including: (i) the legal requirements within its jurisdiction for the purchase of the Securities; (ii) any foreign exchange restrictions applicable to such purchase; (iii) any governmental or other consents that may need to be obtained; and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Securities. The Investor further represents that its payment for, and its continued beneficial ownership of the Securities, will not violate any applicable securities or other laws of its jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Information from Company</u>. Such Investor and its purchaser representatives or investment managers, if any, have been afforded the opportunity to obtain any information necessary to verify the accuracy of any representations or information presented by the Company in this Agreement and have had all inquiries to the Company answered, and have been furnished all requested materials, relating to the Company and the Offering and sale of the Securities and anything set forth in the Transaction Documents. Neither the Investor nor the Investor's purchaser's representatives or investment managers, if any, have been furnished any offering literature by the Company or any of its Affiliates, associates or agents other than the Transaction Documents, and the agreements referenced therein.

***SECURITIES PURCHASE AGREEMENT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Speculative Nature of Investment; Risk Factors</u>. **SUCH INVESTOR UNDERSTANDS THAT AN INVESTMENT IN THE SECURITIES AND UNDERLYING SECURITIES INVOLVES A HIGH DEGREE OF RISK.** Such Investor acknowledges that: (i) any projections, forecasts or estimates as may have been provided to the Investor are purely speculative and cannot be relied upon to indicate actual results that may be obtained through this investment; any such projections, forecasts and estimates are based upon assumptions which are subject to change and which are beyond the control of the Company or its management; (ii) the tax effects which may be expected by this investment are not susceptible to absolute prediction, and new developments and rules of the Internal Revenue Service, audit adjustment, court decisions or legislative changes may have an adverse effect on one or more of the tax consequences of this investment; and (iii) the Investor has been advised to consult with his own advisor regarding legal matters and tax consequences involving this investment. The Investor represents that the Investor's investment objective is speculative in that the Investor seeks the maximum total return through an investment in a broad spectrum of securities, which involves a higher degree of risk than other investment styles and therefore the Investor's risk exposure is also speculative. The Securities offered hereby are highly speculative and involve a high degree of risk and Investor should only purchase these securities if Investor can afford to lose their entire investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Matters Concerning the Placement Agent</u>. Such Investor acknowledges that the Placement Agent is acting as the exclusive Placement Agent for the Offering and that: (A) the Placement Agent will receive a cash commission of seven percent (7%) of the proceeds raised in the Offering from Investor introduced to the Company by the Placement Agent (B) the Placement Agent is acting as placement agent for the Company and, in that capacity, is not acting as investment advisor to the Investor in connection with any of the Securities or Underlying Securities; and (C) the Investor must make, and is making, such Investor's own investment decision in entering into the Transaction Documents. In making those decisions, the Investor should be aware that the Placement Agent will receive a placement fee and other compensation as described above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Money Laundering</u>. If an entity, the operations of such Investor are and have been conducted at all times in compliance with applicable financial record-keeping and reporting requirements of the Money Laundering Laws[, and no Action 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 or any Subsidiary, threatened.

**ARTICLE IV. OTHER AGREEMENTS OF THE PARTIES**

Section 4.01 <u>Transfer Restrictions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Securities and Underlying Securities may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of Securities or Underlying Securities other than pursuant to an effective registration statement or Rule 144, the Company may require the transferor thereof to provide to the Company an opinion of counsel selected by the transferor and reasonably acceptable to the Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of such transferred Securities or Underlying Securities under the Securities Act. The Securities and Underlying Securities may not be sold or transferred by the Investor without the written consent of the Company, which shall not be unreasonably withheld. As a condition of such sale or transfer, any such transferee shall agree in writing to be bound by the terms of this Agreement and shall have the rights of an Investor under this Agreement.

***SECURITIES PURCHASE AGREEMENT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Investor agree to the imprinting, so long as is required by this Section 4.01, of a legend on any of the Securities and Underlying Securities in the following form:

[NEITHER] THIS SECURITY [NOR THE SECURITIES INTO WHICH THIS SECURITY IS [CONVERTIBLE/EXERCISABLE] HAS [NOT] BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Upon the Investor's request in connection with a proposed sale of Underlying Securities pursuant to Rule 144 and if the Company reasonably determines it is so required, upon receipt of customary documentation from Investor's broker (if the Underlying Securities are sold in brokers transactions), the Company shall, at its own cost and effort, retain legal counsel to provide an opinion letter to the Company's transfer agent opining that the Underlying Securities may be resold without registration under the Securities Act, pursuant to Rule 144, promulgated thereunder, so long as the requirements of Rule 144 are met for any Underlying Securities to be resold thereunder. The Company shall arrange for any such opinion letter to be provided not later than five (5) Business Days after the date of delivery to and receipt by the Company of a written request by any Investor together with (if required in order to renderthe opinion) any broker's representation letter of other customary documentation reasonably requested by the Company evidencing compliance with Rule 144 ("**Legend Removal Date**"), and such opinion letter may be a 'blanket' opinion letter covering Underlying Securities held by more than one Investor (if applicable to more than one Investor).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Investor, agrees it will sell any Securities and Underlying Securities only pursuant to either the registration requirements of the Securities Act, including any applicable prospectus delivery requirements, or an exemption therefrom, and that if Securities or Underlying Securities are sold pursuant to a registration statement, they will be sold in compliance with the plan of distribution set forth therein, and acknowledges that the removal of the restrictive legend from certificates representing Securities as set forth in this Section 4.01 is predicated upon the Company's reliance upon this understanding.

Section 4.02 <u>Acknowledgment of Dilution</u>. The Company acknowledges that the issuance of the Underlying Securities may result in dilution of the outstanding shares of Common Stock, which dilution may be substantial under certain market conditions. The Company further acknowledges that its obligations under the Transaction Documents, including, without limitation, its obligation to issue the Underlying Securities pursuant to the Securities, are unconditional and absolute and not subject to any right of set off, counterclaim, delay or reduction, regardless of the effect of any such dilution or any claim the Company may have against any Investor and regardless of the dilutive effect that such issuance may have on the ownership of the other stockholders of the Company.

Section 4.03 <u>Registration Rights</u>. The Company shall cause the Registration Rights Agreement to remain in full force and effect and the Company shall comply in all material respects with the terms thereof, a copy of which is annexed hereto as <u>Appendix E</u>.

Section 4.04 <u>Integration</u>. The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Securities to the Investor in a manner that would require the registration under the Securities Act of the sale of the Securities to the Investor.

***SECURITIES PURCHASE AGREEMENT***

Section 4.05 <u>Publicity</u>. The Company and the Investor shall consult with each other in issuing any other press releases with respect to the transactions contemplated hereby, and neither the Company nor any Investor shall issue any such press release nor otherwise make any such public statement without the prior consent of the Company with respect to any press release of any Investor, or without the prior consent of each Investor with respect to any press release of the Company mentioning such Investor, which consent shall not unreasonably be withheld or delayed, except if such disclosure is required by law, in which case the disclosing party shall promptly provide the other party with prior notice of such public statement or communication.

Section 4.06 <u>Indemnification of Investor</u>. The Company shall indemnify, reimburse and hold harmless the Investor and their respective partners, members, shareholders, officers, directors, employees and agents (and any other persons with other titles that have similar functions) (collectively, "**Indemnitees**") from and against any and all losses, claims, liabilities, damages, penalties, suits, costs and expenses, of any kind or nature, (including fees relating to the cost of investigating and defending any of the foregoing) imposed on, incurred by or asserted against such Indemnitee in any way related to or arising from or alleged to arise from: (i) any breach of any of the representations, warranties, covenants or agreements made by the Company in this Agreement or in the other Transaction Documents; and (ii) any action instituted against such Indemnitee in any capacity, or any of them or their respective Affiliates, by any stockholder of the Company who is not an Affiliate of such Indemnitee, with respect to any of the transactions contemplated by the Transaction Documents (unless such action is based upon a breach of such Indemnitee's representations, warranties or covenants under the Transaction Documents or any agreements or understandings such Indemnitee may have with any such stockholder or any violations by such Indemnitee of state or federal securities laws or any conduct by such Indemnitee which results from the gross negligence or willful misconduct of the Indemnitee as determined by a final, nonappealable decision of a court of competent jurisdiction).

Section 4.07 <u>Reservation of Underlying Securities</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance pursuant to the Securities in such amount as the Required Minimum, as may then be required to fulfill its obligations in full under the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If, on any date, the number of authorized but unissued (and otherwise unreserved) shares of Common Stock is less than the Required Minimum on such date, then the Board of Directors shall use commercially reasonable efforts to amend the Company's certificate or articles of incorporation to increase the number of authorized but unissued shares of Common Stock to at least the Required Minimum at such time, as soon as possible and in any event not later than the 60th day after such date.

Section 4.8 <u>Form D; Blue Sky Filings</u>. The Company agrees to timely file a Form D with respect to the Securities as required under Regulation D and to provide a copy thereof, promptly upon request of any Investor. The Company shall take such action as the Company shall reasonably determine is necessary in order to obtain an exemption for, or to qualify the Securities for, sale to the Investor at the Closing under applicable securities or "Blue Sky" laws of the states of the United States, and shall provide evidence of such actions promptly upon request of any Investor.

Section 4.9 <u>Use of Proceeds</u>. The Company shall use the net proceeds from the sale of the Securities hereunder to: (a) cover the expenses related to the Offering and Liquidity Event and (b) for general working capital purposes and shall not use such proceeds: (i) for the satisfaction of any portion of the Company's debt (other than payment of trade payables in the ordinary course of the Company's business and prior practices); (ii) for the redemption of any Common Stock or Common Stock equivalents; (iii) for the settlement of any outstanding litigation; (iv) in violation of FCPA or OFAC regulations; or (v) to lend, give credit or make advances to any officers, directors, employees or Affiliates of the Company.

***SECURITIES PURCHASE AGREEMENT***

Section 4.10 <u>Most Favored Nation</u>. As long as the Note remains outstanding and until a Liquidity Event shall have occurred, if the Company or any Subsidiary shall enter into any debt or equity financing transaction in an amount equal to or in excess of the Maximum Offering Amount (a "<u>Subsequent Financing</u>") the terms of which are more favorable to the persons or entities providing such Subsequent Financing ("<u>More Favorable Terms</u>") than those of the Offering and Transaction Documents ("<u>Present Terms</u>"), it shall promptly notify the Investor of the same, including a reasonably complete summary of the material differences between the Present Terms and such More Favorable Terms. The Investor shall have the right, exercisable at any time within ten (10) Business Days are receiving such notice, to elect to accept such More Favorable terms in lieu of the Present Terms of the Securities (and, if and to the extent relevant, the Underlying Securities) then held by the Investor and under this Agreement. The Securities (and, if and to the extent relevant, Underlying Securities) held by, and other Present Terms as applied to, the Investor who so exercises such right shall there after automatically be deemed amended by (x) substituting the form, mix and terms of such Securities (and, if and to the extent relevant, the Underlying Securities) with those of issued or issuable in such Subsequent Financing, and (y) incorporating by reference, *mutatis mutandis*, the More Favorable Terms in lieu of the Present Terms; and (ii) thereafter, upon the reasonable request of the Company or such Investor, the parties shall reasonably cooperate with each other in order to further or better evidence or effect such substitution(s) and amendment(s), and to otherwise carry out the intent and purposes of this Section 4.11, including the physical exchange of Securities..

**ARTICLE V. MISCELLANEOUS**

Section 5.01 <u>Termination</u>. This Agreement may be terminated by the Investor, as to such Investor's obligations hereunder only and without any effect whatsoever on the obligations between the Company and the Investor, by written notice to the Company, if the Closing has not been consummated on or before the Termination Date; provided, however, that such termination will not affect the right of any party to sue for any breach by the other party (or parties).

Section 5.02 <u>Fees and Expenses</u>. Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all transfer agent fees, stamp taxes and other taxes and duties levied in connection with the delivery of any Securities to the Investor.

Section 5.03 <u>Entire Agreement</u>. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

Section 5.04 <u>Notices</u>. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of: (i) one Business Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number set forth on the signature pages attached hereto prior to 5:30 p.m. (New York City time) on a Business Day, with written confirmation of successful transmission; (ii) the next Business Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number set forth on the signature pages attached hereto on a day that is not a Business Day or later than 5:30 p.m. (New York City time) on any Business Day; (iii) the second Business Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service; or (iv) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages attached hereto.

***SECURITIES PURCHASE AGREEMENT***

Section 5.05 <u>Amendments; Waivers</u>. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in the case of an amendment, by the Company and the Investors holding at least a majority in principal amount of the Notes then outstanding and the Lead Investor or, in the case of a waiver, by the party against whom enforcement of any such waived provision is sought. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall bedeemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.

Section 5.06 <u>Successors and Assigns</u>. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Investor (other than by merger).The Investor may assign any or all of its rights under this Agreement to any Person to whom such Investor assigns or transfers any Securities, provided that such transfer complies with the terms of this Agreement and all applicable federal and State Securities Laws and that such transferee agrees in writing with the Company to be bound, with respect to the transferred Securities, by the provisions of the Transaction Documents that apply to the 'Investor'.

Section 5.07 <u>No Third-Party Beneficiaries</u>. Except for the Placement Agent and the Indemnitees named herein, who are intended third-party beneficiaries of this Agreement, including the representations and warranties made by the Company hereunder, this Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

Section 5.08 <u>Governing Law</u>. All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall be governed by and construed and enforced in accordance with the internal laws of the State of Arizona, without regard to the principles of conflict of laws thereof. Each party agrees that all legal proceedings concerning the interpretation, enforcement and defense of the transactions contemplated by any of the Transaction Documents (whether brought against a party hereto or its respective Affiliates, directors, officers, shareholders, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York, New York (the "**New York Courts**"). Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), 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 such New York Courts, or such New York Courts are improper or inconvenient venue for such proceeding. 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 via registered or certified mail or overnight delivery (with evidence of delivery) 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 service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by applicable law. Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to the Transaction Documents or the transactions contemplated hereby. If any party shall commence an action or proceeding to enforce any provisions of the Transaction Documents, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorney's fees and other costs and expenses incurred in the investigation, preparation and prosecution of such Action or Proceeding.

Section 5.09 <u>Survival</u>. The representations and warranties contained herein shall survive the Closing and the delivery of the Securities and issuance of the Underlying Securities.

***SECURITIES PURCHASE AGREEMENT***

Section 5.10 <u>Execution</u>. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a .pdf" format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or '.pdf" signature page was an original thereof.

Section 5.11 <u>Severability</u>. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

Section 5.12 <u>Rescission and Withdrawal Right</u>. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) any of the other Transaction Documents, whenever any Investor exercises a right, election, demand or option under a Transaction Document and the Company does not timely perform its related obligations within the periods therein provided, then such Investor may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights; provided, however, that in the case of a rescission of a conversion of a Note, the Investor shall be required to return any shares of Common Stock subject to any such rescinded conversion or exercise notice.

Section 5.13 <u>Replacement of Securities</u>. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Securities.

Section 5.14 <u>Remedies</u>. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, the Investor and the Company will be entitled to seek specific performance under the Transaction Documents. The parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations contained in the Transaction Documents and hereby agree to waive and not to assert in any action for specific performance of any such obligation the defense that a remedy at law would be adequate.

Section 5.15 <u>Payment Set Aside</u>. To the extent that the Company makes a payment or payments to any Investor pursuant to any Transaction Document or an Investor enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other person under any law (including, without limitation, any bankruptcy law, state or federal law, common law or equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or setoff had not occurred.

***SECURITIES PURCHASE AGREEMENT***

Section 5.16 <u>Independent Nature of Investors' Obligations and Rights</u>. The obligations of the Investor under any Transaction Document are several and not joint with the obligations of any other Investor, and no Investor shall be responsible in any way for the performance or non-performance of the obligations of any other Investor under any Transaction Document. Nothing contained herein or in any other Transaction Document, and no action taken by any Investor pursuant thereto, shall be deemed to constitute the Investors as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Investors are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction Documents. The Investor shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Investor to be joined as an additional party in any proceeding for such purpose. The Investor has been represented by its own separate legal counsel in their review and negotiation of the Transaction Documents. The Company has elected to provide the Investor with the same terms and Transaction Documents for the convenience of the Company and not because it was required or requested to do so by the Investor.

Section 5.17 <u>Construction</u>. The parties agree that each of them and/or their respective counsel has reviewed and had an opportunity to revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the Transaction Documents or any amendments hereto. In addition, each and every reference to share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of this Agreement.

Section 5.18 <u>Headings</u>. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof.

Section 5.19 <u>WAIVER OF JURY TRIAL</u>. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

[*SIGNATURE PAGES FOLLOW*]

***SECURITIES PURCHASE AGREEMENT***

**IN WITNESS WHEREOF**, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date below.

---

| | |
|:---|:---|
| **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
| By: | */s/ Brian Podolak* |
| Name: | Brian Podolak |
| Title: | Chief Executive Officer |
| **INVESTOR:** | **INVESTOR:** |
| The Investor executing the Signature Page in the formattached hereto as <u>Annex A</u> and delivering the same to the Company or its agents shall be deemed to have executed this Agreement and agreed to the terms hereof. | The Investor executing the Signature Page in the formattached hereto as <u>Annex A</u> and delivering the same to the Company or its agents shall be deemed to have executed this Agreement and agreed to the terms hereof. |

---

**[**Signature Page to Securities Purchase Agreement**]**

***SECURITIES PURCHASE AGREEMENT***

**Annex A**

**Securities Purchase Agreement Investor Counterpart Signature Page**

The undersigned, desiring to: (i) enter into this Securities Purchase Agreement dated as of December 23, 2022 ("**Agreement**"), with the undersigned, Vocodia Holdings Corp, a Wyoming corporation ("**Company**"), in the form furnished to the undersigned; and (ii) purchase the Securities as set forth below, hereby agrees to purchase such Securities from the Company as of the Closing and further agrees to join the Agreement as a party thereto, with all the rights and privileges appertaining thereto, and to be bound in all respects by the terms and conditions thereof. The undersigned specifically acknowledges having read the representations in the Agreement section entitled '<u>Representations and Warranties of the Investor,</u>' and hereby represents that the statements contained therein are complete and accurate with respect to the undersigned as an Investor.

---

| | | |
|:---|:---|:---|
| **PURCHASER** (if an individual): | **PURCHASER** (if an entity): | **PURCHASER** (if an entity): |
| By | EMMIS CAPITAL II, LLC | EMMIS CAPITAL II, LLC |
| Name: | (Legal Name of Entity) | (Legal Name of Entity) |
| Date: |  |  |
| **PUCHASER** (if investing jointly) | By |  |
|  | Name: | PETER GOLDSTEIN |
| By | Title: | PRESIDENT |
| Name: | Date: | 12/23/2022 |
| Date: |  |  |
| Fax No. | Fax No.: | N/A |

---

---

| | |
|:---|:---|
| **Aggregate Subscription Amount: $** | $200000 |
| **Original Principal Amount of Note(s)**: $|  |
| [Aggregate Subscription Amount divided by 85% [*i.e.,* 100% *less* the OID)] | [Aggregate Subscription Amount divided by 85% [*i.e.,* 100% *less* the OID)] |
| State/Country of Domicile or Formation: | DELAWARE |
| SS/EIN/TIN: | 88-1274832 |
| Address: | 151 N. Nob Hill Road, Ste. 321, Fort Lauderdale Florida 33324 |
| Telephone: | 954-998-5510 |
| E-Mail: | peter@exchangelistingllc.com |

---

**[**Investor Counter Signature Page to Securities Purchase Agreement**]**

***SECURITIES PURCHASE AGREEMENT***

**<u>APPENDIX A</u>**

**<u>[CONFIDENTIAL INVESTOR QUESTIONNAIRE]</u>**

***SECURITIES PURCHASE AGREEMENT***

**<u>APPENDIX B</u>**

**<u>[FORM OF 15% ORIGINGAL ISSUE DISCOUNT SENIOR SECURED CONVERTIBLE NOTE]</u>**

***SECURITIES PURCHASE AGREEMENT***

**<u>APPENDIX C</u>**

**<u>[FORM OF WARRANT]</u>**

***SECURITIES PURCHASE AGREEMENT***

**<u>APPENDIX D</u>**

**<u>SECURITY AGREEMENT</u>**

***SECURITIES PURCHASE AGREEMENT***

**<u>APPENDIX E</u>**

**<u>REGISTRATION RIGHTS AGREEMENT</u>**

## Exhibit 4.6

**Exhibit 4.6**

**<u>APPENDIX B</u>**

**<u>FORM OF 15% ORIGINGAL ISSUE DISCOUNT SENIOR SECURED CONVERTIBLE NOTE]</u>**

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS CONVERTIBLE HAS BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

---

| | | |
|:---|:---|:---|
| Original Issue Date: December 23, 2022 | Subscription Amount: | $200000 |
| Latest Maturity Date: December 23, 2023 | Original Issue Discount: | $30000 |
| Original Interest Discount: 15% | Original Principal Amount: | $230000<sup>1</sup> |

---

**VOCODIA HOLDINGS CORP.**

15% ORIGINAL ISSUE DISCOUNT SENIOR SECURED CONVERTIBLE NOTE

THIS 15% ORIGINAL ISSUE DISCOUNT SENIOR SECURED CONVERTIBLE NOTE ("**Note**") is a duly authorized and validly issued 15% Original Issue Discount Senior Secured Convertible Note of Vocodia Holdings Corp., a Wyoming corporation ("**Company**") and issued pursuant to the Securities Purchase Agreement.

FOR VALUE RECEIVED, the Company promises to pay to Emmis Capital II, LLC, or its registered assigns ("**Holder**"), or shall have paid pursuant to the terms hereunder, the principal sum of $230,000**<sup>1</sup>** on the earlier to occur of (x) the date of the first Liquidity Event to occur after the Original Issue Date and (y) the date that is nine months after the Original Issue Date (as the case may be, the "**Maturity Date**"); *provided* that at any time when this Note is paid or payable in cash: (A) the Company shall give at least fifteen (15) days' prior written notice to Holder of any proposed payment in cash and (B) the Holder may, by written notice to the Company delivered within five (5) days after such notice of proposed payment in cash, elect to receive payment of this Note, in whole or in part, in Conversion Shares (converted at the Conversion Price as provided in <u>Section 2(c)</u> below). Notwithstanding the foregoing, this Note shall be due and payable on such earlier date as this Note is required to be repaid as provided hereunder. The Company further promises to pay interest to the Holder on the aggregate then outstanding principal amount of this Note in accordance with the provisions hereof. This Note is subject to the following additional provisions:

<sup>1</sup> Equals Investor's "Subscription Amount" *divided by* 85%.

***APPENDIX B***

**Section 1. <u>Definitions.</u>**

For the purposes hereof, in addition to the terms defined elsewhere in this Note: (i) capitalized terms not otherwise defined herein shall have the meanings set forth in the Purchase Agreement; and (ii) the following terms shall have the following meanings:

"<u>Alternate Consideration</u>" shall have the meaning set forth in section 5(a).

"<u>Bankruptcy Event</u>" means any of the following events: (i) the Company or any Significant Subsidiary (as such term is defined in Rule 1-02(w) of Regulation S-X) thereof commences a case or other proceeding under any bankruptcy, reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction relating to the Company or any Significant Subsidiary thereof; (ii) there is commenced against the Company or any Significant Subsidiary thereof any such case or proceeding that is not dismissed within sixty (60) days after commencement; (iii) the Company or any Significant Subsidiary thereof is adjudicated insolvent or bankrupt or any order of relief or other order approving any such case or proceeding is entered; (iv) the Company or any Significant Subsidiary thereof suffers any appointment of any custodian or the like for it or any substantial part of its property that is not discharged or stayed within sixty (60) calendar days after such appointment; (v) the Company or any Significant Subsidiary thereof makes a general assignment for the benefit of creditors; (vi) the Company or any Significant Subsidiary thereof calls a meeting of its creditors with a view to arranging a composition, adjustment or restructuring of its debts; (vii) the Company or any Significant Subsidiary thereof admits in writing that it is generally unable to pay its debts as they become due; (viii) the Company or any Significant Subsidiary thereof, by any act or failure to act, expressly indicates its consent to, approval of or acquiescence in any of the foregoing or takes any corporate or other action for the purpose of effecting any of the foregoing.

"<u>Beneficial Ownership Limitation</u>" shall have the meaning set forth in section 4(c).

"<u>Business Day</u>" means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or required by law to remain closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized or required by law to remain closed due to 'stay at home', 'shelter-in-place', 'non-essential employee' or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York are generally open for use by customers on such day.

"<u>Change of Control Transaction</u>" means the occurrence after the date hereof of any of: (i) an acquisition after the date hereof by an individual or legal entity or 'group' (as described in Rule 13d-5(b)(1) promulgated under the Exchange Act) of effective control (whether through legal or beneficial ownership of capital stock of the Company, by contract or otherwise) of in excess of fifty percent (50%) of the voting securities of the Company (other than by means of conversion of the Notes); (ii) the Company merges into or consolidates with any other Person, or any Person merges into or consolidates with the Company and, after giving effect to such transaction, the stockholders of the Company immediately prior to such transaction own less than fifty percent (50%) of the aggregate voting power of the Company or the successor entity of such transaction; (iii) the Company (and all of its Subsidiaries, taken as a whole) sells or transfers all or substantially all of its assets to another Person and the stockholders of the Company immediately prior to such transaction own less than fifty percent (50%) of the aggregate voting power of the acquiring entity immediately after the transaction; (iv) a replacement at one time or within a three year period of more than one-half of the members of the Board of Directors which is not approved by a majority of those individuals who are members of the Board of Directors on the Original Issue Date (or by those individuals who are serving as members of the Board of Directors on any date whose nomination to the Board of Directors was approved by a majority of the members of the Board of Directors who are members on the date hereof); or (v) the execution by the Company of an agreement to which the Company is a party or by which it is bound, providing for any of the events set forth in clauses (i) through (iv) above.

***APPENDIX B***

"<u>Conversion</u>" means payment of all or any portion of this Note in Conversion Shares in accordance with the terms hereof; "convert" and "converted" have correlative meanings.

"<u>Conversion Date</u>" means the Maturity Date.

"<u>Conversion Price</u>" means the product of (i) offering price per share of Common Stock paid in the first Liquidity Event to occur after the Closing Date and (ii) the Discount.

"<u>Conversion Shares</u>" means the shares of Common Stock (and/or other securities) issuable to the Holder upon Conversion of this Note as provided in Section 2.

"<u>Discount</u>" means 0.65 (representing a discount of thirty-five percent (35%)).

"<u>Event of Default</u>" shall have the meaning set forth in section 5(a).

"<u>Fundamental Transaction</u>" shall have the meaning set forth in section 2(a).

"<u>Indebtedness</u>" means any liabilities of the Company for borrowed money or amounts owed and all guaranties made by the Company of borrowed money or amounts owed by others.

"<u>Interest Payment Date</u>" means the fifteenth (15<sup>th</sup>) day of each calendar month following the earlier to occur of (i) the date that is nine months after the Original Issue Date, and (ii) the occurrence of any Event of Default.

"<u>Liquidity Event</u>" means an offering of Common Stock (or units consisting of Common Stock and warrants to purchase Common Stock) resulting in the listing for trading of the Common Stock on the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, or the New York Stock Exchange (or any successors to any of the foregoing).

"<u>Mandatory Default Amount</u>" means the sum of: (1) the product of (x) outstanding balance of the Original Principal Amount of this Note and (y) 120%, *plus* (2) all accrued and unpaid interest thereon, including all default interest (as defined below in this Note), if any, *plus* (3) all other amounts, costs, expenses, and liquidated damages due in respect of this Note, if any. *plus* (4) the product of: (x) 20% of all revenues received by the Company and its Subsidiaries in the ordinary course of business following the relevant Event(s) of Default and (x) the Pro Rata Share of this Note, which portion of such revenues will (notwithstanding anything to the contrary set forth herein or the other Transaction Documents) will be payable the Holder no less frequently than monthly on each Interest Payment Date.

"<u>New York Courts</u>" shall have the meaning set forth in section 6(d).

"<u>Note Register</u>" shall have the meaning set forth in section 3(c).

***APPENDIX B***

"<u>Original Issue Date</u>" means the date of the first issuance of the Notes, regardless of any transfers of any Note and regardless of the number of instruments which may be issued to evidence such Notes.

"<u>Payment Amount</u>" means the sum of: (1) the balance of the Original Principal Amount of this Note, *plus* (2) all accrued and unpaid interest thereon, if any, *plus* (3) all other amounts, costs, expenses, and liquidated damages due in respect of this Note, if any.

"<u>Permitted Indebtedness</u>" means: (i) the Indebtedness evidenced by the Notes, (ii) Indebtedness that (x) is fully subordinated to the Indebtedness evidenced by the Notes and (y) if secured, is secured by Liens are fully subordinated to the Liens granted under the Security Agreement, inclusive of any interest, fees, penalties or other amounts due or payable thereunder; and (iii) indebtedness under agreements or arrangements with respect to refinancing the Indebtedness as disclosed to the Holder prior to the date hereof, *provided* that the terms of such refinancing are more favorable to the Company and are no more favorable to the holders of such Indebtedness than the terms of the Notes.

"<u>Prepayment Amount</u>" means the sum of: (1) the product of (x) outstanding balance of the Original Principal Amount of this Note and (y) 120%, *plus* (2) all accrued and unpaid interest thereon, if any, *plus* (3) all other amounts, costs, expenses, and liquidated damages due in respect of this Note as a result of the Company prepaying this Note prior to the Maturity Date, if any.

"<u>Pro Rata Share</u>" of this Note means, at any time, the percentage obtained by *dividing* (i) the Original Principal Amount of this Note *by* (ii) the Original Principal Amount of all Notes then outstanding (including this Note).

"<u>Purchase Agreement</u>" means the Securities Purchase Agreement, dated as of December 23, 2022 by and among the Company and the original Holders, as amended, modified, or supplemented from time to time in accordance with its terms.

"<u>Securities Act</u>" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

"<u>Trading Day</u>" means a day on which the principal Trading Market is open for trading.

"<u>Trading Market</u>" means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the NYSE, the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, or the Nasdaq Global Select Market (or any successors to any of the foregoing). the first Liquidity Event to occur after the Closing Date.

**Section 2. <u>Interest; Payment and Prepayment</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Interest Calculations</u>. Interest shall accrue on the outstanding Original Principal Amount of this Note, from and after the date that is six months after the Original Issue Date and be payable and on each Interest Payment Date, at an annual rate of fifteen percent (15%); *provided* that at all times after the occurrence and during the continuance of any Event of Default such annual interest rate shall be twenty percent (20%). Such interest shall be calculated on the basis of a 360-day year, consisting of twelve 30 calendar day periods, and shall accrue daily commencing on the Original Issue Date until payment in full of the outstanding principal, together with all accrued and unpaid interest, liquidated damages (if any) and other amounts which may become due hereunder, has been made. Interest shall cease to accrue with respect to any Original Principal Amount converted, *provided* that the Company actually delivers the Conversion Shares within the time period required hereunder. Payments hereunder will be paid to the Person in whose name this Note is registered on the records of the Company regarding registration and transfers of this Note.

***APPENDIX B***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Payment and Prepayment</u>. On the Maturity Date, the entire Payment Amount shall become due and payable. The Company may prepay this Note in full at any time after the Original Issue Date and prior to the Maturity Date in an amount equal to the Prepayment Amount. At any time when this Note is proposed to be paid prepaid by the Company in cash: (i) the Company shall give at least fifteen (15) days' prior written notice to Holder of such proposed prepayment in cash and (ii) the Holder may, by written notice to the Company delivered within five (5) days after such notice of proposed payment in cash, elect to receive payment of this Note, by converting all or any portion of the Payment Amount or Prepayment Amount (as applicable) into Conversion Shares (converted at the Conversion Price).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Delivery of Conversion Shares</u>. In the event of a Conversion of this Note (including after and during the continuance of an Event of Default, as provided in section 5(b))*,* not later than three (3) Business Days after the Conversion Date (the "<u>Shares Delivery Date</u>"), the Company shall deliver, or cause to be delivered, to the Holder a certificate or certificates representing a number of shares of Common Stock equal to: (A) the Payment Amount, Prepayment Amount or Mandatory Default Amount (as applicable) *divided by* (B) the Conversion Price (the "<u>Conversion Shares</u>"). If Conversion Shares are to be issued in the name of a Person other than the present Holder, the Holder will pay all transfer taxes payable with respect thereto and will deliver the Note for cancellation. No fee will be charged to the Holder for any Conversion, except for such transfer taxes, if any. In lieu of issuing fractional Conversion Shares upon Conversion of all or any portion of this Note, the Company shall pay cash in an amount equal to the product of the then applicable Conversion Price per Conversion Share and the number of fractional shares that would otherwise be issuable hereunder. If less than all of the outstanding Original Principal Amount of this Note is converted pursuant to the terms of this Note, the Company will additionally deliver to the Holder an amended and restated Note, containing an Original Principal Amount equal to that portion of the then-outstanding principal amount not converted containing the other terms and provisions of this Note and otherwise in form and substance reasonably satisfactory to the Holder. Upon delivery of Conversion Shares as aforesaid, all rights of the Holder will cease as to that portion of the Note so converted and this Note will no longer be deemed to be outstanding as to that portion of the Note so converted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Failure to Deliver Certificates</u>. If a Conversion Share certificate or certificates are not delivered to or as directed by the applicable Holder by the Shares Delivery Date, the Holder shall be entitled to elect by written notice to the Company at any time on or before its receipt of such certificate or certificates, demand <u>payment</u> of the Payment Amount, Prepayment Amount or Mandatory Default Amount (as applicable) in cash.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Unconditional Obligations</u>. The Company's obligations to issue and deliver the Conversion Shares on the Maturity Date in accordance with <u>the</u> terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of the Company to the Holder in connection with the issuance of such Conversion Shares; *provided, however,* that such delivery shall not operate as a waiver by the Company of any such action the Company may have against the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Adjustment</u>. The number of Conversion Shares issuable upon Conversion of this Note or any portion thereof (or any shares of stock or other securities or property at the time receivable or issuable upon Conversion of this Note or any portion thereof) and the Conversion Price are subject to adjustment upon the occurrence of any of the following events between the Original Issue Date and the date that all obligations hereunder are repaid or this Note is converted into Conversion Shares:

***APPENDIX B***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Conversion Price will be proportionally adjusted to reflect any stock dividend, stock split, reverse stock split, reclassification, recapitalization or other similar event affecting the outstanding shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) In case of any Change of Control Transaction or Fundamental Transaction then, the Holder, upon the Conversion of this Note at any time after the consummation of such Change of Control Transaction or Fundamental Transaction (as the case may be), will be entitled to receive, in lieu of the stock or other securities and property receivable upon Conversion of this Note prior to such consummation, the stock or other securities or property to which the Holder would have been entitled upon the consummation of such Change of Control Transaction or Fundamental Transaction (as the case may be) if this Note had been converted immediately prior thereto, subject to further adjustment as provided in this Note, and, in such case, appropriate adjustment (as determined in good faith by the Board of Directors of the Company) will be made in the application of the provisions in this section 2 with respect to the rights and interests thereafter of the Holder, to the end that the provisions set forth in this section 2 will thereafter be applicable, as nearly as reasonably may be, in relation to any securities or other property thereafter deliverable upon the Conversion of this Note. The successor or purchasing corporation in any such reorganization, consolidation or merger (if other than the Company) will duly execute and deliver to the Holder a supplement hereto reasonably acceptable to the Holder acknowledging such entity's obligations under this Note and, in each such case, the terms of the Note will be applicable to the shares of stock or other securities or property receivable upon the Conversion of this Note after the consummation of such reorganization, consolidation or merger.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) In case all the authorized Common Stock of the Company is converted, pursuant to the Company's certificate or articles of incorporation, into other securities or property, or the Common Stock otherwise ceases to exist, then, in such case, the Holder, upon Conversion of this Note at any time after the date on which the Common Stock is so converted or ceases to exist (the "<u>End Date</u>"), will receive, in lieu of the number of Conversion Shares that would have been issuable upon such exercise immediately prior to the End Date (the "<u>Former Number of Conversion Shares</u>"), the stock and other securities and property which the Holder would have been entitled to receive upon the End Date upon Conversion of this Note with respect to the Former Number of Conversion Shares immediately prior to the End Date (all subject to further adjustment as provided in this Note).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The Company will, at its expense, cause an authorized officer promptly to prepare a written certificate showing each adjustment or readjustment of the Conversion Price, or the number of Conversion Shares or other securities issuable upon Conversion of this Note and cause such certificate to be delivered to the Holder in accordance with the notice provisions of the Purchase Agreement. The certificate will describe the adjustment or readjustment and include a description in reasonable detail of the facts on which the adjustment or readjustment is based. The form of this Note need not be changed because of any adjustment in the Conversion Price or in the number of Conversion Shares issuable upon its conversion.

***APPENDIX B***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Holder's Exercise Limitations</u>. At any time when the Common Stock is registered under Section 12 of the Exchange Act, the Company shall not effect any Conversion of this Note, pursuant to section 2 or otherwise, to the extent that, after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder's Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder's Affiliates (such Persons, "Attribution Parties")), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below); *provided, however*, that the foregoing limitation shall not apply if Holder is current with all required filings, if any, which may be required of Holder under Section 13 and Section 16 of the Exchange Act. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon Conversion of this Note with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (I) exercise of the remaining, non-converted portion of this Note (if any) beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company (including, without limitation, any other Common Stock equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this section 2(g), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this section 2(g) applies, the determination of whether this Note is convertible (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) the Company shall not have any obligation to verify or confirm the accuracy thereof. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this section 2(g), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company's most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or its transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within one Trading Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Note, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The "<u>Beneficial Ownership Limitation</u>" shall initially be 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon Conversion of this Note. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this section 2(g), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon Conversion of this Note held by the Holder and the provisions of this section 2(g) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61<sup>st</sup> day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this section 2(g) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Note.

**Section 3. <u>Registration of Transfers and Exchanges</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Different Denominations</u>. This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations, as requested by the Holder surrendering the same. No service <u>charge</u> will be payable for such registration of transfer or exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Investment Representations</u>. This Note has been issued subject to certain investment representations of the original Holder set forth in the Purchase Agreement and may be transferred or exchanged only in compliance with the Purchase Agreement and applicable federal and state securities laws and regulations.

***APPENDIX B***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Reliance on Note Register</u>. Prior to due presentment for transfer to the Company of this Note, the Company and any agent of the Company may treat the Person in whose name this Note is duly registered on the note register maintained by the Company ("<u>Note Register</u>") as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes, whether or not this Note is overdue, and neither the Company nor any such agent shall be affected by notice to the contrary.

**Section 4. <u>Negative Covenants</u>.**

As long as any portion of this Note remains outstanding, unless the holders of at least a majority (>50%) in Original Principal Amount of the then outstanding Notes shall have otherwise given prior written consent, the Company shall not, and shall not permit any of the Subsidiaries to, directly or indirectly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) other than Permitted Indebtedness, enter into, create, incur, assume, guarantee or suffer to exist any Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) amend its charter documents, including, without limitation, its certificate of incorporation and bylaws, in any manner that materially and adversely affects any rights of the Holder unless consented to by the Holder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) repay, repurchase or offer to repay, repurchase or otherwise acquire more than a de minimis number of shares of its Common Stock or Common Stock equivalents other than: (i) the Warrants as permitted or required under the Transaction Documents; (ii) repurchases of Common Stock or Common Stock equivalents of departing officers and directors of the Company, provided that such repurchases shall not exceed an aggregate of $50,000 for all officers and directors during the term of this Note; or (iii) shares of Common Stock and Common Stock equivalents which do not vest or are otherwise forfeited, provided (in case of forfeiture) that such Common Stock and Common Stock equivalents are not acquired for cash;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) repay, repurchase or offer to repay, repurchase or otherwise acquire any Indebtedness, other than the Notes (if on a pro-rata basis) and other than regularly scheduled principal and interest payments as such terms as are in effect as of the Original Issue Date, provided that such payments shall not be permitted if, at such time, or after giving effect to such payment, any Event of Default shall exist or occur (in whole or in part) as a result thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) pay cash dividends or distributions on any equity securities of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) enter into any material transaction with any Affiliate of the Company, unless such transaction is made on an arm's-length basis and expressly approved by a majority of the disinterested directors of the Company (even if less than a quorum otherwise required for Board of Directors approval); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) enter into any agreement with respect to any of the foregoing.

**Section 5. <u>Events of Default</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "<u>Event of Default</u>" means, wherever used herein, any of the following events (whatever the reason for such event and whether such event shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of any administrative or governmental body):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any default in the payment of (A) the Original Principal Amount of any Note, or (B) interest, liquidated damages (if any) and other amounts owing to a Holder on any Note, as and when the same shall become due and payable (whether on the Maturity Date or by acceleration or otherwise) which default, solely in the case of an interest payment or other default under clause (B) above, is not cured within five (5) Business Days;

***APPENDIX B***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Company shall fail to observe or perform any other covenant or agreement contained in the Notes or in any Transaction Document, which failure is not cured, if possible to cure, within the earlier to occur of (A) five (5) Business Days after notice of such failure sent by the Holder or by any other Holder to the Company, and (B) seven (7) Business Days after the Company has become or should have become aware of such failure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a default or event of default (subject to any grace or cure period provided in the applicable agreement, document or instrument) shall occur under (A) any of the Transaction Documents or

(B) any other material agreement, lease, document or instrument to which the Company is obligated (and not covered by clause (vi) below);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any material representation or warranty made in this Note, any other Transaction Documents, any written statement pursuant hereto or thereto or any other report, financial statement or certificate made or delivered to the Holder or any other Holder shall be untrue or incorrect in any material respect as of the date when made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Company or any Subsidiary shall be subject to a Bankruptcy Event;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) the Company shall default on any of its obligations under any note, mortgage, credit agreement or other facility, indenture agreement, capital lease, factoring agreement or other instrument or agreement under which there may be issued or owing, or by which there may be secured or evidenced, any Indebtedness that (a) involves an obligation greater than $50,000, whether such Indebtedness now exists or shall hereafter be created, and (b) results in such Indebtedness becoming or being declared due and payable prior to the date on which it would otherwise become due and payable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) a final non-appealable judgment by any competent court in Canada or the United States for the payment of money in an amount of at least $50,000 is rendered against the Company, and the same remains undischarged and unpaid for a period of 45 days during which execution of such judgment is not effectively stayed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) the Liens granted under the Security Agreement shall become invalid or unperfected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Remedies Upon Event of Default</u>. If any Event of Default occurs, the outstanding principal amount of this Note, plus accrued but unpaid interest, liquidated damages (if any) and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder's election, immediately due and payable in cash at the Mandatory Default Amount. At any time when this Note is proposed to be paid by the Company following an Event of Default in cash: (i) the Company shall give at least fifteen (15) days' prior written notice to Holder of such proposed payment in cash and (ii) the Holder may, by written notice to the Company delivered within five (5) days after such notice of proposed payment in cash, elect to receive payment of this Note, by converting all or any portion of the Mandatory Default Amount into Conversion Shares (converted at the Conversion Price).. Commencing upon the occurrence of any Event of Default, interest shall commence to accrue on the outstanding balance of the Original Principal Amount of this Note an interest rate equal to eighteen percent (18%) per annum. Upon the payment or conversion in full of the Mandatory Default Amount in accordance with the terms of this Note, the Holder shall promptly surrender this Note to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Note until such time, if any, as the Holder receives full payment pursuant to this section 5(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

***APPENDIX B***

**Section 6. <u>Miscellaneous</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Notices</u>. Any and all notices or other communications or deliveries to be provided by the Holder hereunder shall be in writing and delivered personally, by email attachment, or sent by a nationally recognized overnight courier service, addressed to the Company, at the address set forth above, or such other email of physical address as the Company may specify for such purposes by notice to the Holder delivered in accordance with this section 6(a). Any and all notices or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, sent by a nationally recognized overnight courier service or (provided that receipt is timely acknowledged by the recipient) by email attachment, addressed to each Holder at the email or physical address of the Holder appearing on the books of the Company, or if no such email or physical address appears on the books of the Company, at the principal place of business of such Holder, as set forth in the Purchase Agreement. Any notice or other communication or deliveries hereunder shall be deemed given and effective on the earliest of: (i) the date when receipt is acknowledged by the recipient, if such notice or communication is delivered via email attachment, (ii) the second Business Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iii) upon actual receipt by the party to whom such notice is required to be given.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Absolute Obligation</u>. Except as expressly provided herein, no provision of this Note shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, liquidated damages (if any) and accrued interest, as applicable, on this Note at the time, place, and rate, and in the coin or currency, herein prescribed. This Note is a direct debt obligation of the Company. The Notes are a senior obligation of the Company, and this Note ranks *pari passu* with all other Notes now or hereafter issued under the terms set forth in the Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Lost or Mutilated Note</u>. If this Note shall be mutilated, lost, stolen or destroyed, the Company shall execute and deliver, in exchange and substitution for and upon cancellation of a mutilated Note, or in lieu of or in substitution for a lost, stolen or destroyed Note, a new Note for the principal amount of this Note so mutilated, lost, stolen or destroyed, but only upon receipt of evidence of such loss, theft or destruction of such Note, and of the ownership hereof, reasonably satisfactory to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Governing Law</u>. All questions concerning the construction, validity, enforcement and interpretation of this Note shall be governed by and construed and enforced in accordance with the internal laws of the State of Arizona without regard to the principles of conflict of laws thereof. Each party agrees that all legal proceedings concerning the interpretation, enforcement and defense of the transactions contemplated by any of the Transaction Documents (whether brought against a party hereto or its respective Affiliates, directors, officers, shareholders, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York, New York ("<u>New York Courts</u>"). Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), 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 such New York Courts, or such New York Courts are improper or inconvenient venue for such proceeding. 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 via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Note and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by applicable law. Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Note or the transactions contemplated hereby. If any party shall commence an action or proceeding to enforce any provisions of this Note, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorney's fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

***APPENDIX B***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Waiver</u>. Any waiver by the Company or the Holder of a breach of any provision of this Note shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Note. The failure of the Company or the Holder to insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Note on any other occasion. Any waiver by the Company or the Holder must be in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Severability</u>. If any provision of this Note is invalid, illegal or unenforceable, the balance of this Note shall remain in effect, and if any provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons and circumstances. If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate of interest permitted under applicable law. The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company from paying all or any portion of the principal of or interest on this Note as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Note, and the Company (to the extent it may lawfully do so) hereby expressly waives all benefits or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Holder, but will suffer and permit the execution of every such as though no such law has been enacted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Remedies, Characterizations, Other Obligations, Breaches and Injunctive Relief</u>. The remedies provided in this Note shall be cumulative and in addition to all other remedies available under this Note and any of the other Transaction Documents at law or in equity (including a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the Holder's right to pursue actual and consequential damages for any failure by the Company to comply with the terms of this Note. The Company covenants to the Holder that there shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided for herein with respect to payments, conversion and the like (and the computation thereof) shall be the amounts to be received by the Holder and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder and that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach or threatened breach, the Holder shall be entitled, in addition to all other available remedies, to an injunction restraining any such breach or any such threatened breach, without the necessity of showing economic loss and without any bond or other security being required. The Company shall provide all information and documentation to the Holder that is reasonably requested by the Holder to enable the Holder to confirm the Company's compliance with the terms and conditions of this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Next Business Day</u>. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Headings</u>. The headings herein are for convenience only, do not constitute a part of this Note and shall not be deemed to limit or affect any of the provisions hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Amendments; Waivers.</u> Any modifications, amendments or waivers of the provisions hereof shall be subject to Section 5.05 of the Purchase Agreement.

***APPENDIX B***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Equal Treatment of Holder</u>. No consideration (including any modification of this Note) shall be offered or paid to any Person (as such term is defined in the Purchase Agreement) to amend or consent to a waiver or modification of any provision hereof unless the same consideration is also offered to all of the parties to the Purchase Agreement. Further, the Company shall not make any payment of principal or interest on the Notes in amounts which are disproportionate to the respective principal amounts outstanding on the Notes at any applicable time. For clarification purposes, this provision constitutes a separate right granted to each Holder by the Company and negotiated separately by each Holder, and is intended for the Company to treat the Holders as a class and shall not in any way be construed as the Holders acting in concert or as a group with respect to the purchase or disposition of the Notes or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Usury</u>. To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever claim, and will resist any and all efforts to be compelled to take the benefit or <u>advantage</u> of, usury laws wherever enacted, now or at any time hereafter in force, in connection with any Action or Proceeding that may be brought by any Holder in order to enforce any right or remedy under any Transaction Document. Notwithstanding any provision to the contrary contained in any Transaction Document, it is expressly agreed and provided that the total liability of the Company under the Transaction Documents for payments in the nature of interest shall not exceed the maximum lawful rate authorized under applicable law (the "<u>Maximum Rate</u>"), and, without limiting the foregoing, in no event shall any rate of interest or default interest, or both of them, when aggregated with any other sums in the nature of interest that the Company may be obligated to pay under the Transaction Documents exceed such Maximum Rate. It is agreed that if the maximum contract rate of interest allowed by law and applicable to the Transaction Documents is increased or decreased by statute or any official governmental action subsequent to the date hereof, the new maximum contract rate of interest allowed by law will be the Maximum Rate applicable to the Transaction Documents from the effective date thereof forward, unless such application is precluded by applicable law. If under any circumstances whatsoever, interest in excess of the Maximum Rate is paid by the Company to any Holder with respect to indebtedness evidenced by the Transaction Documents, such excess shall be applied by such Holder to the unpaid principal amount of any such indebtedness or be refunded to the Company, the manner of handling such excess to be at such Holder's election.

*(Signature Page Follows)*

***APPENDIX B***

 

**IN WITNESS WHEREOF**, the Company has caused this Note to be duly executed by a duly authorized officer as of the date first above indicated.

---

| | |
|:---|:---|
| **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
| By: | /s/ Brian Podolak |
| Name: | Brian Podolak |
| Title: | Chief Executive Officer |

---

## Exhibit 4.7

**Exhibit 4.7**

**<u>APPENDIX E</u>**

**REGISTRATION RIGHTS AGREEMENT**

THIS REGISTRATION RIGHTS AGREEMENT (this "**Agreement**"), dated as of December 23, 2022 (this "**Agreement**"), is by and among Vocodia Holdings Corp, a Wyoming corporation ("**Company**"), and Emmis Capital II, LLC ("**Investor**"). Except as otherwise specified herein or in the Purchase Agreement (defined below), all capitalized terms used in this Agreement are defined in <u>Exhibit A</u> attached hereto.

**RECITALS:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Company and the Investor are parties to that Securities Purchase Agreement dated of even date herewith ("**Purchase Agreement**") pursuant to which the Investor has loaned funds to the Company in exchange for the Company's 15% original issue discount senior secured convertible note in the principal amount of up to $230,000 (, the "**Note**"), Warrants and Incentive Shares (as such terms are defined in the Purchase Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. As an inducement for the Investor to purchase the Note, the Company has agreed to register the Registrable Securities (as defined below) pursuant to the terms of this Agreement.

In consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows:

**Section 1** <u>Piggyback Registrations.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Right to Piggyback.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Whenever the Company is required or proposes to register any of its equity securities under the Securities Act (including primary and secondary registrations, and other than pursuant to an Excluded Registration) ("**Piggyback Registration**"), the Company will give at least fifteen (15) days prior written notice to all Holders of its intention to effect such Piggyback Registration and, subject to the terms of section 1(b), will include in such Piggyback Registration (and in all related registrations or qualifications under blue sky laws and in any related underwriting) all Registrable Securities with respect to which the Company has received written requests for inclusion therein within ten (10) days after delivery of the Company's notice. Such written requests for inclusion will inform the Company of the number of Registrable Securities such Holder wishes to include in such registration statement. If a Holder decides not to include all of its Registrable Securities in any registration statement thereafter filed by the Company, such Holder will nevertheless continue to have the right to include any Registrable Securities in any subsequent registration statement or registration statements as may be filed by the Company with respect to offerings of its securities, all upon the terms and conditions set forth herein. The Participating Investor may withdraw its request for inclusion at any time prior to executing the underwriting agreement, or if none, prior to the applicable registration statement becoming effective.

***APPENDIX E***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If a registration statement under which the Company gives notice under this section 1 is for an underwritten offering, then the Company will so advise the Holders of Registrable Securities. In such event, the right of any such Holder's Registrable Securities to be included in a registration pursuant to this section 1 will be conditioned upon such Holder's participation in such underwriting and the inclusion of such Holder's Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their Registrable Securities through such underwriting will enter into an underwriting agreement in customary form with the managing underwriter or underwriter(s) selected for such underwriting. If any Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter, delivered at least three Business Days prior to the effective date of the registration statement. Any Registrable Securities excluded or withdrawn from such underwriting will be excluded and withdrawn from the registration but are eligible for a future registration. For any Holder which is a partnership or corporation, the partners, retired partners and shareholders of such Holder, or the estates and Family Group of any such partners and retired partners and any trusts for the benefit of any of the foregoing persons will be deemed to be a single 'Holder,' and any pro rata reduction with respect to such 'Holder' will be based upon the aggregate amount of shares carrying registration rights owned by all entities and individuals included in such 'Holder,' as defined in this sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Priority on Primary Registrations.</u> If a Piggyback Registration is an underwritten primary registration on behalf of the Company, and the managing underwriters advise the Company in writing that in their good faith opinion the number of securities requested to be included in such registration exceeds the number which can be sold in such offering without adversely affecting the marketability, proposed offering price, timing or method of distribution of the offering, the Company will include in such registration: (i) first, the securities the Company proposes to sell; (ii) second, any Registrable Securities requested to be included in such registration by any Investor which, in the opinion of the underwriters, can be sold without any such adverse effect; and (iii) third, other securities requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Priority on Secondary Registrations</u>. If a Piggyback Registration is an underwritten secondary registration on behalf of holders of the Company's equity securities and the managing underwriters advise the Company in writing that in their good faith opinion the number of securities requested to be included in such registration exceeds the number which can be sold in such offering without adversely affecting the marketability, proposed offering price, timing or method of distribution of the offering, the Company will include in such registration: (i) <u>first</u>, the Registrable Securities requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect; and (ii) <u>second</u>, other securities requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Right to Terminate Registration</u>. The Company will have the right to terminate or withdraw any registration initiated by it under this section 1, whether or not any holder of Registrable Securities has elected to include securities in such registration. The Company shall give prompt written notice of such termination to the Participating Investor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Selection of Underwriters</u>. If any Piggyback Registration is an underwritten offering, the legal counsel for the Company, the investment banker(s) and manager(s) for the offering shall be selected by the Company.

***APPENDIX E***

**Section 2** <u>Stockholder Lock-Up Agreements.</u>

In connection with any underwritten Public Offering, each Holder will enter into any customary lock-up, holdback or similar agreements requested by the underwriter(s) managing such offering, in each case with such modifications and exceptions as may be approved by the Investor. Without limiting the generality of the foregoing, each Holder hereby agrees that in connection with any Piggyback Registration that is an underwritten Public Offering, not to: (i) offer, sell, contract to sell, pledge or otherwise dispose of (including sales pursuant to Rule 144), directly or indirectly, any equity securities of the Company (including equity securities of the Company that may be deemed to be beneficially owned by such Holder in accordance with the rules and regulations of the SEC) (collectively, "**Securities**"), or any securities, options or rights convertible into or exchangeable or exercisable for Securities (collectively, "**Other Securities**"); (ii) enter into a transaction which would have the same effect as described in clause (i) above; (iii) enter into any swap, hedge or other arrangement that transfers, in whole or in part, any of the economic consequences or ownership of any Securities or Other Securities, whether such transaction is to be settled by delivery of such Securities or Other Securities, in cash or otherwise (each of (i), (ii) and (iii) above, a "**Sale Transaction**"); or (iv) publicly disclose the intention to enter into any Sale Transaction, commencing on the date on which the Company gives notice to the Holders that a preliminary prospectus has been circulated for such underwritten Public Offering or the 'pricing' of such offering and continuing to the date that is 180 days following the date of the final prospectus in the case of any other such underwritten Public Offering (such period, or such shorter period as agreed to by the managing underwriters, a "**Holdback Period**"); provided, however, that all executive officers and directors of the Company then holding Common Stock of the Company shall enter into similar agreements. The Company may impose stop-transfer instructions with respect to any Securities or Other Securities subject to the restrictions set forth in this section 2 until the end of such Holdback Period.

**Section 3** <u>Registration Procedures.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Company Obligations.</u> If and whenever the Company causes the registration of any of its equity securities under the Securities Act (including primary and secondary registrations, and other than pursuant to an Excluded Registration) as provided in this Agreement, the Company will use its best efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended method of disposition thereof, and pursuant thereto the Company will as expeditiously as possible:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) prepare and file with (or submit confidentially to) the SEC a registration statement, and all amendments and supplements thereto and related prospectuses, with respect to such Registrable Securities and use its best efforts to cause such registration statement to become effective, all in accordance with the Securities Act and all applicable rules and regulations promulgated thereunder (provided that before filing or confidentially submitting a registration statement or prospectus or any amendments or supplements thereto, the Company will furnish to the counsel selected by the Investor covered by such registration statement copies of all such documents proposed to be filed or submitted, which documents will be subject to the review and comment of such counsel);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective for a period ending when all of the securities covered by such registration statement have been disposed of in accordance with the intended methods of distribution by the sellers thereof set forth in such registration statement (but not in any event before the expiration of any longer period required under the Securities Act or, if such registration statement relates to an underwritten Public Offering, such longer period as in the opinion of counsel for the underwriters a prospectus is required by law to be delivered in connection with the sale of Registrable Securities by an underwriter or dealer) and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement during such period in accordance with the intended methods of disposition by the sellers thereof set forth in such registration statement;

***APPENDIX E***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) furnish, without charge, to each seller of Registrable Securities thereunder and each underwriter, if any, such number of copies of such registration statement, each amendment and supplement thereto, the prospectus included in such registration statement (including each preliminary prospectus) (in each case including all exhibits and documents incorporated by reference therein), each amendment and supplement thereto, each Free Writing Prospectus and such other documents as such seller or underwriter, if any, may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such seller (the Company hereby consenting to the use in accordance with all applicable laws of each such registration statement, each such amendment and supplement thereto, and each such prospectus (or preliminary prospectus or supplement thereto) or Free Writing Prospectus by each such seller of Registrable Securities and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such registration statement or prospectus);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) use its best efforts to register or qualify such Registrable Securities under such other securities or blue sky laws of such jurisdictions as any seller reasonably requests and do any and all other acts and things which may be reasonably necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such seller (<u>provided</u> that the Company will not be required to: (A) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this subparagraph; (B) consent to general service of process in any such jurisdiction; or (C) subject itself to taxation in any such jurisdiction);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) notify in writing each seller of such Registrable Securities: (A) promptly after it receives notice thereof, of the date and time when such registration statement and each post- effective amendment thereto has become effective or a prospectus or supplement to any prospectus relating to a registration statement has been filed and when any registration or qualification has become effective under a state securities or blue sky law or any exemption thereunder has been obtained; (B) promptly after receipt thereof, of any request by the SEC for the amendment or supplementing of such registration statement or prospectus or for additional information; and (C) at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event or of any information or circumstances as a result of which the prospectus included in such registration statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, and, if required by applicable law or to the extent requested by the Investor, the Company will use its best efforts to promptly prepare and file a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading; and (D) if at any time the representations and warranties of the Company in any underwriting agreement, securities sale agreement, or other similar agreement, relating to the offering shall cease to be true and correct;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) use its best efforts to provide a transfer agent and registrar for all such Registrable Securities not later than the effective date of such registration statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) enter into and perform such customary agreements (including, as applicable, underwriting agreements in customary form) and take all such other actions as the Investor or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities (including, without limitation, making available the executive officers of the Company and participating in 'road shows', investor presentations, marketing events and other selling efforts and effecting a stock or unit split or combination, recapitalization or reorganization);

***APPENDIX E***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) make available for inspection by any seller of Registrable Securities, any underwriter participating in any disposition or sale pursuant to such registration statement and any attorney, accountant or other agent retained by any such seller or underwriter, all financial and other records, pertinent corporate and business documents and properties of the Company as will be necessary to enable them to exercise their due diligence responsibility, and cause the Company's officers, directors, employees, agents, representatives and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with such registration statement and the disposition of such Registrable Securities pursuant thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) take all actions to ensure that any prospectus utilized in connection with any Piggyback Registration hereunder complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, is retained in accordance with the Securities Act to the extent required thereby and, when taken together with the related prospectus, prospectus supplement and related documents, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) otherwise use its best efforts to comply with all applicable rules and regulations of the SEC, and make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning with the first day of the Company's first full calendar quarter after the effective date of the registration statement, which earnings statement will satisfy the provisions of section 11(a) of the Securities Act and Rule 158 thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) use its reasonable best efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the sellers thereof to consummate the disposition of such Registrable Securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) if requested by any managing underwriter, include in any prospectus or prospectus supplement updated financial or business information for the Company's most recent period or current quarterly period (including estimated results or ranges of results) if required for purposes of marketing the offering in the view of the managing underwriter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) take no direct or indirect action prohibited by Regulation M under the Exchange Act; <u>provided</u>, <u>however</u>, that to the extent that any prohibition is applicable to the Company, the Company will take such action as is necessary to make any such prohibition inapplicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) use its best efforts to provide: (A) a legal opinion of the Company's outside counsel, dated the effective date of such registration statement addressed to the Company; and (B) on the date that such Registrable Securities are delivered to the underwriters for sale in connection with a Piggy- Back Registration, if such securities are being sold through underwriters, or, if such securities are not being sold through underwriters, on the closing date of the applicable sale, (1) one or more legal opinions of the Company's outside counsel, dated such date, in form and substance as customarily given to underwriters in an underwritten public offering or, in the case of a non-underwritten offering, to the broker, placement agent or other agent of the Holders assisting in the sale of the Registrable Securities, and (2) one or more 'negative assurances letters' of the Company's outside counsel, dated such date, in form and substance as is customarily given to underwriters in an underwritten public offering or, in the case of a non-underwritten offering, to the broker, placement agent or other agent of the Holders assisting in the sale of the Registrable Securities, in each case, addressed to the underwriters, if any, or, if requested, in the case of a non-underwritten offering, to the broker, placement agent or other agent of the Holders assisting in the sale of the Registrable Securities, (3) a 'comfort' letter dated as of such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering and reasonably satisfactory to a majority in interest of the Holders requesting registration, or, in the case of a non- underwritten offering, to the broker, placement agent or other agent of the Holders assisting in the sale of the Registrable Securities, in each case, addressed to the underwriters, if any, or, if requested, in the case of a non-underwritten offering, to the broker, placement agent or other agent of the Holders assisting in the sale of the Registrable Securities and to the Holders, and (4) customary certificates executed by authorized officers of the Company as may be requested by any Holder or any underwriter of such Registrable Securities;

***APPENDIX E***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Additional Information.</u> The Company may require each seller of Registrable Securities as to which any registration is being effected to furnish the Company such information regarding such seller and the distribution of such securities as the Company may from time to time reasonably request in writing, as a condition to such seller's participation in such registration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Other.</u> To the extent that any of the Investor are or may be deemed to be an 'underwriter' of Registrable Securities pursuant to any SEC comments or policies, the Company agrees that: (i) the indemnification and contribution provisions contained in section 5 shall be applicable to the benefit of such Investor in their role as an underwriter or deemed underwriter in addition to their capacity as a Holder, and (ii) such Investor shall be entitled to conduct the due diligence which they would normally conduct in connection with an offering of securities registered under the Securities Act, including without limitation receipt of customary opinions and comfort letters addressed to such Investor.

**Section 4** <u>Registration Expenses.</u>

Except as expressly provided herein, all out-of-pocket expenses incurred by the Company or any Investor in connection with the performance of or compliance with this Agreement and/or in connection with any Piggyback Registration, whether or not the same shall become effective, shall be paid by the Company, including, without limitation: (i) all registration and filing fees, and any other fees and expenses associated with filings required to be made with the SEC or FINRA; (ii) all fees and expenses in connection with compliance with any securities or 'blue sky' laws; (iii) all printing, duplicating, word processing, messenger, telephone, facsimile and delivery expenses (including expenses of printing certificates for the Registrable Securities in a form eligible for deposit with The Depository Trust Company or other depositary and of printing prospectuses and Company Free Writing Prospectuses); (iv) all fees and disbursements of all independent certified public accountants of the Company (including the expenses of any special audit and cold comfort letters required by or incident to such performance); (v) Securities Act liability insurance or similar insurance if the Company so desires or the underwriters so require in accordance with then-customary underwriting practice; (vi) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange on which similar securities of the Company are then listed (or on which exchange the Registrable Securities are proposed to be listed); (vii) all applicable rating agency fees with respect to the Registrable Securities; (viii) all fees and disbursements of legal counsel for the Company; (ix) any fees and disbursements of underwriters customarily paid by issuers or sellers of securities; (x) all fees and expenses of any special experts or other Persons retained by the Company in connection with any Registration; (xi) all of the Company's internal expenses (including all salaries and expenses of its officers and employees performing legal or accounting duties); and (xii) all expenses related to the 'road- show' for any underwritten offering, including all travel, meals and lodging. All such expenses are referred to herein as "**Registration Expenses**." The Company shall not be required to pay, and each Person that sells securities pursuant to a Piggyback Registration hereunder will bear and pay, all underwriting discounts and commissions applicable to the Registrable Securities sold for such Person's account and all transfer taxes (if any) attributable to the sale of Registrable Securities.

***APPENDIX E***

**Section 5** <u>Indemnification and Contribution.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>By the Company</u>. The Company will indemnify and hold harmless, to the fullest extent permitted by law and without limitation as to time, each Holder, such Holder's affiliates and their respective officers, directors employees, agents, fiduciaries, stockholders, managers, partners, members, affiliates, direct and indirect equity holders, consultants and representatives, and any successors and assigns thereof, and each Person who controls such Holder (within the meaning of the Securities Act or the Exchange Act) ("**Indemnified Parties**") against all losses, claims, actions, damages, liabilities and expenses (including with respect to actions or proceedings, whether commenced or threatened, and including reasonable attorney fees and expenses) (collectively, "**Losses**") caused by, resulting from, arising out of, based upon or related to any of the following (each, a "**Violation**") by the Company: (i) any untrue or alleged untrue statement of material fact contained in: (A) any registration statement, prospectus, preliminary prospectus or Free-Writing Prospectus, or any amendment thereof or supplement thereto, or (B) any application or other document or communication (in this section 5, collectively called an "**<u>application</u>**") executed by or on behalf of the Company or based upon written information furnished by or on behalf of the Company filed in any jurisdiction in order to qualify any securities covered by such registration under the "**blue sky**" or securities laws thereof; (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading; or (iii) any violation or alleged violation by the Company of the Securities Act or any other similar federal or state securities laws or any rule or regulation promulgated thereunder applicable to the Company and relating to action or inaction required of the Company in connection with any such registration, qualification or compliance. In addition, the Company will reimburse such Indemnified Party for any legal or any other expenses reasonably incurred by them in connection with investigating, defending or settling any such Losses. Notwithstanding the foregoing, the Company will not be liable in any such case to the extent that any such Losses result from, arise out of, are based upon, or relate to an untrue statement, or omission, made in such registration statement, any such prospectus, preliminary prospectus or any amendment or supplement thereto, or in any application, in reliance upon, and in conformity with, written information prepared and furnished in writing to the Company by such Indemnified Party expressly for use therein or by such Indemnified Party's failure to deliver a copy of the registration statement or prospectus or any amendments or supplements thereto after the Company has furnished such Indemnified Party with a sufficient number of copies of the same. In connection with an underwritten offering, the Company will indemnify such underwriters, their officers and directors, and each Person who controls such underwriters (within the meaning of the Securities Act or the Exchange Act) to the same extent as provided above with respect to the indemnification of the Indemnified Parties or as otherwise agreed to in the underwriting agreement executed in connection with such underwritten offering. Such indemnity and reimbursement of expenses shall remain in full force and effect regardless of any investigation made by or on behalf of such Indemnified Party and shall survive the transfer of such securities by such seller.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>By Holders.</u> In connection with any registration statement in which a Holder is participating, each such Holder will furnish to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such registration statement or prospectus and, to the extent permitted by law, will indemnify the Company, its officers, directors, employees, agents and representatives, and each Person who controls the Company (within the meaning of the Securities Act or the Exchange Act) against any Losses resulting from (as determined by a final and non-appealable judgment, order or decree of a court of competent jurisdiction) any untrue statement of material fact contained in the registration statement, prospectus or preliminary prospectus or any amendment thereof or supplement thereto or any omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission is contained in any information or affidavit so furnished in writing by such Holder expressly for use therein; provided that the obligation to indemnify will be individual, not joint and several, and *pro-rata* based on the number of Registrable Shares included in such registration statement for each Holder and will be limited to the net amount of proceeds received by such Holder from the sale of Registrable Securities pursuant to such registration statement.

***APPENDIX E***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Claim Procedure.</u> Any Person entitled to indemnification hereunder will: (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice will impair any Person's right to indemnification hereunder only to the extent such failure has prejudiced the indemnifying party); and (ii) unless in such indemnified party's reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party will not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent will not be unreasonably withheld, conditioned or delayed). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim or the indemnifying party. In such instance, the conflicted indemnified parties will have a right to retain one separate counsel, chosen by the majority of the conflicted indemnified parties involved in the indemnification and approved by the Investor, at the expense of the indemnifying party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Contribution.</u> If the indemnification provided for in this section 5 is held by a court of competent jurisdiction to be unavailable to, or is insufficient to hold harmless, an indemnified party or is otherwise unenforceable with respect to any Loss referred to herein, then such indemnifying party will contribute to the amounts paid or payable by such indemnified party as a result of such Loss: (i) in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other hand in connection with the statements or omissions which resulted in such Loss as well as any other relevant equitable considerations; or (ii) if the allocation provided by clause (i) of this section 5(d) is not permitted by applicable law, then in such proportion as is appropriate to reflect not only such relative fault but also the relative benefit of the Company on the one hand and of the sellers of Registrable Securities and any other sellers participating in the registration statement on the other in connection with the statement or omissions which resulted in such Losses, as well as any other relevant equitable considerations; provided that the maximum amount of liability in respect of such contribution will be individual, not joint and several, and *pro-rata* based on the number of Registrable Shares included in such registration statement for each Holder and shall be limited, in the case of each seller of Registrable Securities, to an amount equal to the net proceeds actually received by such seller from the sale of Registrable Securities effected pursuant to such registration. The relative fault of the indemnifying party and of the indemnified party will be determined by reference to, among other things, whether the untrue (or, as applicable alleged) untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just or equitable if the contribution pursuant to this section 5(d) were to be determined by *pro rata* allocation or by any other method of allocation that does not take into account such equitable considerations. The amount paid or payable by an indemnified party as a result of the Losses referred to herein will be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending against any action or claim which is the subject hereof. No person guilty of fraudulent misrepresentation (within the meaning of section 11(f) of the Securities Act) will be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation.

***APPENDIX E***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Release.</u> No indemnifying party will, except with the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement that does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a full and unconditional release from all liability in respect to such claim or litigation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Non-exclusive Remedy; Survival.</u> The indemnification and contribution provided for under this Agreement will be in addition to any other rights to indemnification or contribution that any indemnified party may have pursuant to law or contract (and the Company and its Subsidiaries shall be considered the indemnitors of first resort in all such circumstances to which this section 5 applies) and will remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and will survive the transfer of Registrable Securities and the termination or expiration of this Agreement.

**Section 6** <u>Cooperation with Underwritten Offerings</u>.

No Person may participate in any underwritten registration hereunder unless such Person: (i) agrees to sell such Person's securities on the basis provided in any underwriting arrangements approved by the Person or Persons entitled hereunder to approve such arrangements (including, without limitation, pursuant to the terms of any over-allotment or 'green shoe' option requested by the underwriters; provided that no Holder will be required to sell more than the number of Registrable Securities such Holder has requested to include in such registration); and (ii) completes, executes and delivers all questionnaires, powers of attorney, stock powers, custody agreements, indemnities, underwriting agreements and other documents and agreements required under the terms of such underwriting arrangements or as may be reasonably requested by the Company and the lead managing underwriter(s). To the extent that any such agreement is entered into pursuant to, and consistent with, section 2, section 3 and/or this section 6, the respective rights and obligations created under such agreement will supersede the respective rights and obligations of the Holders, the Company and the underwriters created thereby with respect to such registration.

**Section 7** <u>Joinder.</u>

The Investor or the Company may from time to time permit any Person who acquires Common Stock (or rights to acquire Common Stock) to become a party to this Agreement and to be entitled to and be bound by all of the rights and obligations as a Holder by obtaining a Joinder. Upon the execution and delivery of an executed joinder to this Agreement from such Person in the form of Exhibit B attached hereto ("**Joinder**") by such Person, the Common Stock held by such Person shall be considered to have Registrable Securities, and such Person shall be deemed the category of Holder (i.e. Investor), in each case as set forth on the signature page to such Joinder. For the avoidance of doubt, no Person shall be considered a Holder hereunder without execution of a Joinder and no assignment shall otherwise be permitted.

**Section 8** <u>General Provisions.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Amendments and Waivers.</u> Except as otherwise provided herein, the provisions of this Agreement may be amended, modified or waived only with the prior written consent of the Company and the Investor holding shares of Registrable Securities representing a majority of all Registrable Securities; provided that no such amendment, modification or waiver that would treat a specific Holder or group of Holders of Registrable Securities (i.e., Other Investor) in a manner materially and adversely different than any other Holder or group of Holders will be effective against such Holder or group of Holders without the consent of the holders of a majority of the Registrable Securities that are held by the group of Holders that is materially and adversely affected thereby. The failure or delay of any Person to enforce any of the provisions of this Agreement will in no way be construed as a waiver of such provisions and will not affect the right of such Person thereafter to enforce each and every provision of this Agreement in accordance with its terms. A waiver or consent to or of any breach or default by any Person in the performance by that Person of his, her or its obligations under this Agreement will not be deemed to be a consent or waiver to or of any other breach or default in the performance by that Person of the same or any other obligations of that Person under this Agreement.

***APPENDIX E***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Remedies</u>. The parties to this Agreement will be entitled to enforce their rights under this Agreement specifically (without posting a bond or other security), to recover damages caused by reason of any breach of any provision of this Agreement and to exercise all other rights existing in their favor. The parties hereto agree and acknowledge that a breach of this Agreement would cause irreparable harm and money damages would not be an adequate remedy for any such breach and that, in addition to any other rights and remedies existing hereunder, any party will be entitled to seek specific performance and/or other injunctive relief from any court of law or equity of competent jurisdiction (without posting any bond or other security) in order to enforce or prevent violation of the provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Severability</u>. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited, invalid, illegal or unenforceable in any respect under any applicable law or regulation in any jurisdiction, such prohibition, invalidity, illegality or unenforceability will not affect the validity, legality or enforceability of any other provision of this Agreement in such jurisdiction or in any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such prohibited, invalid, illegal or unenforceable provision had never been contained herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Entire Agreement</u>. Except as otherwise provided herein, this Agreement contains the complete agreement and understanding among the parties hereto with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations by or among the parties hereto, written or oral, which may have related to the subject matter hereof in any way.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Successors and Assigns.</u> Except as otherwise provided herein, this Agreement shall bind and inure to the benefit and be enforceable by the Company and its successors and permitted assigns and the Holders (including, specifically, the Investor) and their respective successors and permitted assigns (whether so expressed or not).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Notices.</u> Any notice, demand or other communication to be given under or by reason of the provisions of this Agreement will be in writing and will be deemed to have been given: (i) when delivered personally to the recipient, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; but if not, then on the next Business Day, (iii) one Business Day after it is sent to the recipient by reputable overnight courier service (charges prepaid) or (iv) four Business Days after it is mailed to the recipient by first class mail, return receipt requested. Such notices, demands and other communications will be sent to the Company at the address specified on the signature page hereto or any Joinder and to any Holder, or at such address or to the attention of such other Person as the recipient party has specified by prior written notice to the sending party. Any party may change such party's address for receipt of notice by giving prior written notice of the change to the sending party as provided herein. The Company's address is:

***APPENDIX E***

6401 Congress Avenue, Suite 160

Boca Raton, FL 33487

Attn: Brian Podolak, CEO

*<u>With a copy to:</u>*

Carmel, Milazzo & Feil LLP

55 West 39th Street

18th Floor, New York, NY 10018

Attention: Ross Carmel, Esq.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Business Days.</u> If any time period for giving notice or taking action hereunder expires on a day that is not a Business Day, the time period will automatically be extended to the Business Day immediately following such Saturday, Sunday or legal holiday.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Governing Law.</u> All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be determined in accordance with the provisions of the Purchase Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>No Recourse.</u> Notwithstanding anything to the contrary in this Agreement, the Company and each Holder agrees and acknowledges that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement, will be had against any current or future director, officer, employee, general or limited partner or member of any Holder or any Affiliate or assignee thereof, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever will attach to, be imposed on or otherwise be incurred by any current or future officer, agent or employee of any Holder or any current or future member of any Holder or any current or future director, officer, employee, partner or member of any Holder or of any Affiliate or assignee thereof, as such for any obligation of any Holder under this Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on, in respect of or by reason of such obligations or their creation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Descriptive Headings; Interpretation.</u> The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement. The use of the word 'including' in this Agreement will be by way of example rather than by limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict construction will be applied against any party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Counterparts.</u> This Agreement may be executed in multiple counterparts, any one of which need not contain the signature of more than one party, but all such counterparts taken together will constitute one and the same agreement.

***APPENDIX E***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Electronic Delivery.</u> This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent executed and delivered by means of a photographic, photostatic, facsimile or similar reproduction of such signed writing using a facsimile machine or electronic mail will be treated in all manner and respects as an original agreement or instrument and will be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. No party hereto or to any such agreement or instrument will raise the use of a facsimile machine or electronic mail to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine or electronic mail as a defense to the formation or enforceability of a contract and each such party forever waives any such defense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Further Assurances.</u> In connection with this Agreement and the transactions contemplated hereby, each Holder agrees to execute and deliver any additional documents and instruments and perform any additional acts that may be necessary or appropriate to effectuate and perform the provisions of this Agreement and the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Dividends, Recapitalizations, Etc.</u> If at any time or from time to time there is any change in the capital structure of the Company by way of a stock split, stock dividend, combination or reclassification, or through a merger, consolidation, reorganization or recapitalization, or by any other means, appropriate adjustment will be made in the provisions hereof so that the rights and privileges granted hereby will continue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>No Third-Party Beneficiaries.</u> No term or provision of this Agreement is intended to be, or shall be, for the benefit of any Person not a party hereto, and no such other Person shall have any right or cause of action hereunder, except as otherwise expressly provided herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) <u>Current Public Information.</u> At all times after the Company has filed a registration statement with the SEC pursuant to the requirements of either the Securities Act or the Exchange Act, the Company will file all reports required to be filed by it under the Securities Act and the Exchange Act and will take such further action as the Investor may reasonably request, all to the extent required to enable such Holders to sell Registrable Securities pursuant to Rule 144.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) <u>Costs and Attorneys' Fees</u>. In the event any action, suit or other proceeding is instituted concerning or arising out of this Agreement or any transaction contemplated hereunder, the prevailing party will recover all of such party's costs and attorneys' fees incurred in each such action, suit or other proceeding, including any and all appeals or petitions therefrom.

\* \* \* \* \*

***APPENDIX E***

**IN WITNESS WHEREOF**, the parties have executed this Registration Rights Agreement as of the date first written above.

---

| | |
|:---|:---|
| VOCODIA HOLDINGS CORP | VOCODIA HOLDINGS CORP |
| By: | /s/ Brian Podolak |
| Name: | Brian Podolak |
| Title: | Chief Executive Officer |

---

[SIGNATURE PAGE OF HOLDERS FOLLOWS]

***APPENDIX E***

[SIGNATURE PAGE OF HOLDER]

---

| | |
|:---|:---|
| Name of Holder: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EMMIS CAPITAL II, LLC |
| *Signature of Authorized Signatory of Holder*: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> PETER GOLDSTEIN |
| Name of Authorized Signatory: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> PETER GOLDSTEIN  |
| Title of Authorized Signatory: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> PRESIDENT |

---

[SIGNATURE PAGES CONTINUE]

***APPENDIX E***

**<u>EXHIBIT A</u>**

**DEFINITIONS**

Capitalized terms used in this Agreement have the meanings set forth below.

"<u>Affiliate</u>" of any Person means any other Person controlled by, controlling or under common control with such Person and, in the case of an individual, also includes any member of such individual's Family Group. As used in this definition, 'control' (including, with its correlative meanings, 'controlling', 'controlled by' and 'under common control with') will mean possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of securities, by contract or otherwise).

"<u>Agreement</u>" has the meaning set forth in the first paragraph of this document on page 1.

"<u>Business Day</u>" means a day that is not a Saturday or Sunday or a day on which banks in New York City are authorized or requested by law to close.

"<u>Common Stock</u>" means the Company's common stock, par value $0.001 per share.

"<u>Company</u>" has the meaning set forth in the first paragraph of this Agreement and shall include its successor(s).

"<u>Exchange Act</u>" means the Securities Exchange Act of 1934, as amended from time to time, or any successor federal law then in force, together with all rules and regulations promulgated thereunder.

"<u>Excluded Registration</u>" means any registration of equity securities of the Company solely for a Company sponsored employee benefit plan.

"<u>Family Group</u>" means with respect to any individual, such individual's current or former spouse, their respective parents, descendants of such parents (whether natural or adopted) and the spouses of such descendants, any trust, limited partnership, corporation or limited liability company established solely for the benefit of such individual or such individual's current or former spouse, their respective parents, descendants of such parents (whether natural or adopted) or the spouses of such descendants.

"<u>FINRA</u>" means the Financial Industry Regulatory Authority.

"<u>Free Writing Prospectus</u>" means a free-writing prospectus, as defined in Rule 405.

"<u>Holdback Period</u>" has the meaning set forth in section 2.

"<u>Holder</u>" means a holder of Registrable Securities who is a party to this Agreement (including by way of Joinder).

"<u>Indemnified Parties</u>" has the meaning set forth in <u>section 5(a)</u>.

"<u>Investor</u>" has the meaning set forth in the first paragraph of this Agreement. recitals. Any decision to be made under this Agreement by the Investor shall be made by the Investor.

"<u>Joinder</u>" has the meaning set forth in section 7.

"<u>Losses</u>" has the meaning set forth in <u>section 5(c)</u>.

***APPENDIX E***

"<u>Other Investors</u>" has the meaning set forth in section 8(a).

"<u>Participating Investor</u>" means the Investor participating in the request for a Piggyback Registration.

"<u>Person</u>" means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof.

"<u>Piggyback Registrations</u>" has the meaning set forth in section 1(a).

"<u>Public Offering</u>" means any sale or distribution by the Company, one of its Subsidiaries and/or Holders to the public of Common Stock or other securities convertible into or exchangeable for Common Stock pursuant to an offering registered under the Securities Act.

"<u>Registrable Securities</u>" means, as of any date of determination, (a) the Incentive Shares and other Incentive Securities issued or issuable under the Purchase Agreement, (b) all Conversion Shares (assuming on such date the Note is converted n full without regard to any exercise limitations therein), (c) all Warrant Shares (assuming on such date the Warrants and any Default Contingency Warrants are exercised in full without regard to any exercise limitations therein), (d) any additional shares of Common Stock issued and issuable in connection with any anti-dilution provisions in the Note, Warrants and Default Contingency Warrants and Purchase Agreement (if any) (assuming on such date that the Note, Warrants and any Default Contingency Warrants are converted or exercised in full without regard to any exercise limitations therein) and (e) any securities issued or then issuable upon any share split, dividend or other distribution, recapitalization or similar event with respect to the foregoing; <u>provided, however</u>, that any such Registrable Securities shall cease to be Registrable Securities (and the Company shall not be required to maintain the effectiveness of any, or file another, Registration Statement hereunder with respect thereto) for so long as: (i) a Registration Statement with respect to the sale of such Registrable Securities is declared effective by the Commission under the Securities Act and such Registrable Securities have been disposed of by the Holder in accordance with such effective Registration Statement, (ii) such Registrable Securities have been previously sold in accordance with Rule 144, or (iii) such securities become eligible for resale without volume or manner-of-sale restrictions and without current public information pursuant to Rule 144 as set forth in a written opinion letter to such effect, addressed, delivered and acceptable to the Transfer Agent and the affected Holders (assuming that such securities and any securities issuable upon exercise, conversion or exchange of which, or as a dividend upon which, such securities were issued or are issuable, were at no time held by any Affiliate of the Company, as reasonably determined by the Company, upon the advice of counsel to the Company.

"<u>Registration Expenses</u>" has the meaning set forth in section 4.

"<u>Rule 144</u>", "<u>Rule 158</u>", and "<u>Rule 405</u>", mean, in each case, such rule promulgated under the Securities Act (or any successor provision) by the SEC, as the same will be amended from time to time, or any successor rule then in force.

"<u>Sale Transaction</u>" has the meaning set forth in section 2.

"<u>SEC</u>" means the United States Securities and Exchange Commission.

"<u>Securities Act</u>" means the Securities Act of 1933, as amended from time to time, or any successor federal law then in force, together with all rules and regulations promulgated thereunder.

***APPENDIX E***

"<u>Subsidiary</u>" means, with respect to the Company, any corporation, limited liability company, partnership, association or other business entity of which: (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by the Company or one or more of the other Subsidiaries of the Company or a combination thereof, or (ii) if a limited liability company, partnership, association or other business entity, a majority of the limited liability company, partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by the Company or one or more Subsidiaries of the Company or a combination thereof. For purposes hereof, a Person or Persons will be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity if such Person or Persons will be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or will be or control the managing director or general partner of such limited liability company, partnership, association or other business entity.

"<u>Violation</u>" has the meaning set forth in section 5(a).

## Exhibit 4.8

**Exhibit 4.8**

**VOCODIA HOLD$INGS CORP**

**2022 EQUITY INCENTIVE PLAN**

**RESTRICTED STOCK UNIT AGREEMENT**

**NOTICE OF RESTRICTED STOCK UNIT GRANT**

Unless otherwise defined herein, the terms defined in the Vocodia Holdings Corp 2022 Equity Incentive Plan (the "**Plan**") will have the same defined meanings in this Restricted Stock Unit Agreement which includes the Notice of Restricted Stock Unit Grant (the "**Notice of Grant**"), the Terms and Conditions of Restricted Stock Unit Grant, attached hereto as **Exhibit A**, and all other exhibits, appendices, and addenda attached hereto (the "**Award Agreement**").

**Participant Name:**

**Address:**

The undersigned Participant has been granted an Award of Restricted Stock Units, subject to the terms and conditions of the Plan and this Award Agreement, as follows:

---

| |
|:---|
| Grant Number: |
| Date of Grant: |
| Vesting Commencement Date: |
| Total Number of Restricted Stock Units: |

---

**Vesting Schedule**:

For purposes of this Agreement, "**Quarterly Vesting Dates**" with respect to any calendar year means February 20, May 20, August 20, and November 20.

Subject to any acceleration provisions contained in the Plan, this Award Agreement or any other written agreement authorized by the Administrator between Participant and the Company (or any Parent or Subsidiary of the Company, as applicable) governing the terms of this Award, the Restricted Stock Units will be scheduled to vest according to the following vesting schedule:

 

*Standard Vesting Schedule*: One-fourth (1/4<sup>th</sup>) of the Total Number of Restricted Stock Units (as set forth above) subject to this Award Agreement will be scheduled to vest on the first Quarterly Vesting Date on or immediately following the one (1) year anniversary of the Vesting Commencement Date (such first vesting date, the "**First Vesting Date**"), and thereafter, one-sixteenth (1/16<sup>th</sup>) of the Total Number of Restricted Stock Units subject to this Award Agreement will be scheduled to vest on each of the twelve (12), consecutive Quarterly Vesting Dates that occur after the First Vesting Date, in each case subject to Participant continuing to be a Service Provider through the applicable vesting date.

By Participant's signature and the signature of the representative of the Company below, Participant and the Company agree that this Award of Restricted Stock Units is granted under and governed by the terms and conditions of the Plan and this Award Agreement, including the Terms and Conditions of Restricted Stock Unit Grant, attached hereto as **Exhibit A**, and all other exhibits, appendices and addenda attached hereto, all of which are made a part of this document. Participant acknowledges receipt of a copy of the Plan. Participant has reviewed the Plan and this Award Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Award Agreement and fully understands all provisions of the Plan and this Award Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan or this Award Agreement. Participant further agrees to notify the Company upon any change in Participant's residence address indicated below.

---

| | |
|:---|:---|
| PARTICIPANT | VOCODIA HOLDINGS CORP |
| Signature | Signature |
| Print Name | Print Name |
|  | Title |

---

Residence Address:

**EXHIBIT A**

**VOCODIA HOLDINGS CORP**

**2022 EQUITY INCENTIVE PLAN**

**RESTRICTED STOCK UNIT AGREEMENT**

**TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT GRANT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **Grant of Restricted Stock Units**. The Company hereby grants to the individual ("**Participant**") named in the Notice of Restricted Stock Unit Grant of this Award Agreement (the "**Notice of Grant**") under the Plan an Award of Restricted Stock Units, and subject to the terms and conditions of this Award Agreement and the Plan, which is incorporated herein by reference. Subject to Section 20 of the Plan, in the event of a conflict between the terms and conditions of the Plan and this Award Agreement, the terms and conditions of the Plan shall prevail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **Company's Obligation to Pay**. Each Restricted Stock Unit represents the right to receive a Share on the date it vests. Unless and until the Restricted Stock Units will have vested in the manner set forth in Section 3 or 4, Participant will have no right to payment of any such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Unit will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. **Vesting Schedule**. Except as provided in Section 4, and subject to Section 5, the Restricted Stock Units awarded by this Award Agreement will vest in accordance with the vesting provisions set forth in the Notice of Grant. Unless specifically provided otherwise in this Award Agreement or other written agreement authorized by the Administrator between Participant and the Company or any Parent or Subsidiary of the Company, as applicable, governing the terms of this Award, Restricted Stock Units scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest in accordance with any of the provisions of this Award Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the date such vesting occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **Payment after Vesting**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **General Rule**. Subject to Section 7, any Restricted Stock Units that vest will be paid to Participant (or in the event of Participant's death, to Participant's properly designated beneficiary or estate) in whole Shares. Subject to the provisions of Section 4(c), such vested Restricted Stock Units shall be paid in whole Shares as soon as practicable after vesting, but in each such case within sixty (60) days following the vesting date. In no event will Participant be permitted, directly or indirectly, to specify the taxable year of payment of any Restricted Stock Units payable under this Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **Administrator Discretion**. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of the unvested Restricted Stock Units at any time, subject to the terms of the Plan. If so accelerated, such Restricted Stock Units will be considered as having vested as of the date specified by the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **Section 409A**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If Participant is a U.S. taxpayer, the payment of Shares vesting pursuant to this Award Agreement (including any discretionary acceleration under Section 4(b)) shall in all cases be paid at a time or in a manner that is exempt from, or complies with, Section 409A. The prior sentence may be superseded in a future agreement or amendment to this Award Agreement only by direct and specific reference to such sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Notwithstanding anything in the Plan or this Award Agreement or any other agreement (whether entered into before, on or after the Date of Grant), if the vesting of the balance, or some lesser portion of the balance, of the Restricted Stock Units is accelerated in connection with the termination of Participant's status as a Service Provider (provided that such termination is a "separation from service" within the meaning of Section 409A, as determined by the Administrator), other than due to Participant's death, and if (x) Participant is a U.S. taxpayer and a "specified employee" within the meaning of Section 409A at the time of such termination as a Service Provider and (y) the payment of such accelerated Restricted Stock Units will result in the imposition of additional tax under Section 409A if paid to Participant on or within the six (6) month period following the cessation of Participant's status as a Service Provider, then the payment of such accelerated Restricted Stock Units will not be made until the date six (6) months and one (1) day following the date of cessation of Participant's status as a Service Provider, unless Participant dies following Participant's termination as a Service Provider, in which case, the Restricted Stock Units will be paid in Shares to Participant's estate as soon as practicable following Participant's death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) It is the intent of this Award Agreement that it and all payments and benefits to U.S. taxpayers hereunder be exempt from, or comply with, the requirements of Section 409A so that none of the Restricted Stock Units provided under this Award Agreement or Shares issuable thereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be so exempt or so comply. Each payment payable under this Award Agreement is intended to constitute a separate payment for purposes of Treasury Regulations Section 1.409A-2(b)(2). To the extent necessary to comply with Section 409A, references to termination of Participant's status as a Service Provider, termination of employment, or similar phrases will be references to Participant's "separation from service" within the meaning of Section 409A. In no event will the Company or any Parent or Subsidiary of the Company have any responsibility, liability, or obligation to reimburse, indemnify, or hold harmless Participant (or any other person) for any taxes, penalties and interest that may be imposed, or other costs that may be incurred, as a result of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. **Forfeiture Upon Termination as a Service Provider**. Unless specifically provided otherwise in this Award Agreement or other written agreement authorized by the Administrator between Participant and the Company or any of its Subsidiaries or Parents, as applicable, governing the terms of this Award, if Participant ceases to be a Service Provider for any or no reason, the then-unvested Restricted Stock Units awarded by this Award Agreement will thereupon be forfeited at no cost to the Company upon the date of such cessation and Participant will have no further rights thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. **Death of Participant**. Any distribution or delivery to be made to Participant under this Award Agreement, if Participant is then deceased, will be made to Participant's designated beneficiary, or if no beneficiary survives Participant, the administrator or executor of Participant's estate. Any such transferee must furnish the Company with (a) written notice of such transferee's status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. **Tax Obligations**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **Responsibility for Taxes**. Participant acknowledges that, regardless of any action taken by the Company or, if different, Participant's employer or any Parent or Subsidiary of the Company to which Participant is providing services (together, the "**Service Recipients**"), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Restricted Stock Units, including, without limitation, (i) all federal, state, and local taxes (including Participant's Federal Insurance Contributions Act (FICA) obligations) that are required to be withheld by any Service Recipient or other payment of tax-related items related to Participant's participation in the Plan and legally applicable to Participant, (ii) Participant's and, to the extent required by any Service Recipient, the Service Recipient's fringe benefit tax liability, if any, associated with the grant, vesting, or settlement of the Restricted Stock Units or sale of Shares, and (iii) any other Service Recipient taxes the responsibility for which Participant has, or has agreed to bear, with respect to the Restricted Stock Units (or settlement thereof or issuance of Shares thereunder) (collectively, the "**Tax Obligations**"), is and remains Participant's sole responsibility and may exceed the amount actually withheld by the applicable Service Recipient(s). Participant further acknowledges that no Service Recipient (A) makes any representations or undertakings regarding the treatment of any Tax Obligations in connection with any aspect of the Restricted Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to such settlement and the receipt of any dividends or other distributions, and (B) makes any commitment to and is under any obligation to structure the terms of the grant or any aspect of the Restricted Stock Units to reduce or eliminate Participant's liability for Tax Obligations or achieve any particular tax result. Further, if Participant is subject to Tax Obligations in more than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges that the applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account for Withholding Obligations (as defined below) in more than one jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **Tax Withholding**. Pursuant to such procedures as the Administrator may specify from time to time, the applicable Service Recipient(s) will withhold the amount required to be withheld for the payment of Tax Obligations (the "**Withholding Obligations**"). The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit or require Participant to satisfy such Withholding Obligations, in whole or in part (without limitation), if permissible by applicable local law, by: (i) paying cash, (ii) having the Company withhold otherwise deliverable Shares having a fair market value equal to the minimum amount that is necessary to meet the withholding requirement for such Withholding Obligations (or such greater amount as Participant may elect if permitted by the Administrator, if such greater amount would not result in adverse financial accounting consequences) ("**Net Share Withholding**"), (iii) withholding the amount of such Withholding Obligations from Participant's wages or other cash compensation paid to Participant by the applicable Service Recipient(s), (iv) delivering to the Company Shares that Participant owns and that already have vested with a fair market value equal to the Withholding Obligations (or such greater amount as Participant may elect if permitted by the Administrator, if such greater amount would not result in adverse financial accounting consequences), (v) selling a sufficient number of such Shares otherwise deliverable to Participant, through such means as the Company may determine in its sole discretion (whether through a broker or otherwise) equal to the minimum amount that is necessary to meet the withholding requirement for such Withholding Obligations (or such greater amount as Participant may elect if permitted by the Administrator, if such greater amount would not result in adverse financial accounting consequences) ("**Sell to Cover**"), or (vi) such other means as the Administrator deems appropriate. If the Withholding Obligations are satisfied by withholding in Shares, for tax purposes, Participant is deemed to have been issued the full number of Shares subject to the vested Restricted Stock Units, notwithstanding that a number of the Shares are held back solely for the purpose of paying the Withholding Obligations. To the extent determined appropriate by the Administrator in its discretion, the Administrator will have the right (but not the obligation) to satisfy any Withholding Obligations by Net Share Withholding. If Net Share Withholding is the method by which such Withholding Obligations are satisfied, the Company will not withhold on a fractional Share basis to satisfy any portion of the Withholding Obligations and, unless the Company determines otherwise, no refund will be made to Participant for the value of the portion of a Share, if any, withheld in excess of the Withholding Obligations. If a Sell to Cover is the method by which Withholding Obligations are satisfied, Participant agrees that as part of the Sell to Cover, additional Shares may be sold to satisfy any associated broker or other fees. Only whole Shares will be sold pursuant to a Sell to Cover. Any proceeds from the sale of Shares pursuant to a Sell to Cover that are in excess of the Withholding Obligations and any associated broker or other fees will be paid to Participant in accordance with procedures the Company may specify from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **Tax Consequences**. Participant has reviewed with Participant's own tax advisers the U.S. federal, state, local and non-U.S. tax consequences of this investment and the transactions contemplated by this Award Agreement. With respect to such matters, Participant relies solely on such advisers and not on any statements or representations of the Company or any of its agents, written or oral. Participant understands that Participant (and not the Company) shall be responsible for Participant's own tax liability that may arise as a result of this investment or the transactions contemplated by this Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **Company's Obligation to Deliver Shares**. For clarification purposes, in no event will the Company issue Participant any Shares unless and until arrangements satisfactory to the Administrator have been made for the payment of Participant's Withholding Obligations. If Participant fails to make satisfactory arrangements for the payment of such Withholding Obligations hereunder at the time any applicable Restricted Stock Units otherwise are scheduled to vest pursuant to Sections 3 or 4 or Participant's Withholding Obligations otherwise become due, Participant permanently will forfeit such Restricted Stock Units to which Participant's Withholding Obligation relates and any right to receive Shares thereunder and such Restricted Stock Units will be returned to the Company at no cost to the Company. Participant acknowledges and agrees that the Company may permanently refuse to issue or deliver the Shares if such Withholding Obligations are not delivered at the time they are due.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. **Rights as Stockholder**. Neither Participant nor any person claiming under or through Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares (which may be in book entry form) will have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to Participant (including through electronic delivery to a brokerage account). After such issuance, recordation and delivery, Participant will have all the rights of a stockholder of the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. **No Guarantee of Continued Service**. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE RESTRICTED STOCK UNITS PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER, WHICH UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAWS IS AT THE WILL OF THE APPLICABLE SERVICE RECIPIENT AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS RESTRICTED STOCK UNIT AWARD OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH PARTICIPANT'S RIGHT OR THE RIGHT OF ANY SERVICE RECIPIENT TO TERMINATE PARTICIPANT'S RELATIONSHIP AS A SERVICE PROVIDER, SUBJECT TO APPLICABLE LAW, WHICH TERMINATION, UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAW, MAY BE AT ANY TIME, WITH OR WITHOUT CAUSE.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. **Grant is Not Transferable**. Except to the limited extent provided in Section 6, this Award and the rights and privileges conferred hereby will not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be subject to sale under execution, attachment or similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of this Award, or any right or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, this Award and the rights and privileges conferred hereby immediately will become null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. **Nature of Grant**. In accepting this Award of Restricted Stock Units, Participant acknowledges, understands and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the grant of the Restricted Stock Units is voluntary and occasional and does not create any contractual or other right to receive future grants of Restricted Stock Units, or benefits in lieu of Restricted Stock Units, even if Restricted Stock Units have been granted in the past;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all decisions with respect to future Restricted Stock Units or other grants, if any, will be at the sole discretion of the Administrator;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Participant is voluntarily participating in the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Restricted Stock Units and the Shares subject to the Restricted Stock Units are not intended to replace any pension rights or compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Restricted Stock Units and the Shares subject to the Restricted Stock Units, and the income and value of same, are not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the future value of the Shares underlying the Restricted Stock Units is unknown, indeterminable, and cannot be predicted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) for purposes of the Restricted Stock Units, Participant's status as a Service Provider will be considered terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant's employment or service agreement, if any), and unless otherwise expressly provided in this Award Agreement (including by reference in the Notice of Grant to other arrangements or contracts) or determined by the Administrator, Participant's right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (*e.g.*, Participant's period of service would not include any contractual notice period or any period of "**garden leave**" or similar period mandated under employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant's employment or service agreement, if any, unless Participant is providing bona fide services during such time); the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of this Award of Restricted Stock Units (including whether Participant may still be considered to be providing services while on a leave of absence and consistent with local law); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) unless otherwise provided in the Plan or by the Administrator in its discretion, the Restricted Stock Units and the benefits evidenced by this Award Agreement do not create any entitlement to have the Restricted Stock Units or any such benefits transferred to, or assumed by, another company nor be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. **No Advice Regarding Grant**. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant's participation in the Plan, or Participant's acquisition or sale of the Shares underlying the Restricted Stock Units. Participant is hereby advised to consult with Participant's own personal tax, legal and financial advisers regarding Participant's participation in the Plan before taking any action related to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. **Address for Notices**. Any notice to be given to the Company under the terms of this Award Agreement will be addressed to the Company at Vocodia Holdings Corp, 6401 Congress Avenue, Boca Raton, Florida, 33487, or at such other address as the Company may hereafter designate in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. **Successors and Assigns**. The Company may assign any of its rights under this Award Agreement to single or multiple assignees, and this Award Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Award Agreement shall be binding upon Participant and Participant's heirs, executors, administrators, successors and assigns. The rights and obligations of Participant under this Award Agreement may be assigned only with the prior written consent of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. **Additional Conditions to Issuance of Stock**. If at any time the Company will determine, in its discretion, that the listing, registration, qualification or rule compliance of the Shares upon any securities exchange or under any state, federal or non-U.S. law, the tax code and related regulations or under the rulings or regulations of the U.S. Securities and Exchange Commission or any other governmental regulatory body or the clearance, consent or approval of the U.S. Securities and Exchange Commission or any other governmental regulatory authority is necessary or desirable as a condition to the issuance of Shares to Participant (or Participant's estate) hereunder, such issuance will not occur unless and until such listing, registration, qualification, rule compliance, clearance, consent or approval will have been completed, effected or obtained free of any conditions not acceptable to the Company. Subject to the terms of the Award Agreement and the Plan, the Company will not be required to issue any certificate or certificates for (or make any entry on the books of the Company or of a duly authorized transfer agent of the Company of) the Shares hereunder prior to the lapse of such reasonable period of time following the date of vesting of the Restricted Stock Units as the Administrator may establish from time to time for reasons of administrative convenience.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. **Interpretation**. The Administrator will have the power to interpret the Plan and this Award Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Restricted Stock Units have vested). All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Participant, the Company and all other interested persons. Neither the Administrator nor any person acting on behalf of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. **Electronic Delivery and Acceptance**. The Company may, in its sole discretion, decide to deliver any documents related to the Restricted Stock Units awarded under the Plan or future Restricted Stock Units that may be awarded under the Plan by electronic means or require Participant to participate in the Plan by electronic means. Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through any on-line or electronic system established and maintained by the Company or a third party designated by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. **Captions**. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. **Amendment, Suspension or Termination of the Plan**. By accepting this Award, Participant expressly warrants that Participant has received an Award of Restricted Stock Units under the Plan, and has received, read and understood a description of the Plan. Participant understands that the Plan is discretionary in nature and may be amended, suspended or terminated by the Administrator at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. **Country Addendum**. Notwithstanding any provisions in this Award Agreement, the Restricted Stock Unit grant shall be subject to any special terms and conditions set forth in an appendix (if any) to this Award Agreement for any country whose laws are applicable to Participant and this Award of Restricted Stock Units (as determined by the Administrator in its sole discretion) (the "**Country Addendum**"). Moreover, if Participant relocates to one of the countries included in the Country Addendum (if any), the special terms and conditions for such country will apply to Participant, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Country Addendum (if any) constitutes a part of this Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. **Modifications to the Award Agreement**. This Award Agreement constitutes the entire understanding of the parties on the subjects covered. Participant expressly warrants that Participant is not accepting this Award Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to this Award Agreement can be made only in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Award Agreement, the Company reserves the right to revise this Award Agreement as it deems necessary or advisable, in its sole discretion and without the consent of Participant, to comply with Section 409A or to otherwise avoid imposition of any additional tax or income recognition under Section 409A in connection with this Award of Restricted Stock Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. **No Waiver**. Either party's failure to enforce any provision or provisions of this Award Agreement shall not in any way be construed as a waiver of any such provision or provisions, nor prevent that party from thereafter enforcing each and every other provision of this Award Agreement. The rights granted both parties herein are cumulative and shall not constitute a waiver of either party's right to assert all other legal remedies available to it under the circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23. **Governing Law; Severability**. This Award Agreement and the Restricted Stock Units are governed by the internal substantive laws, but not the choice of law rules, of the State of Wyoming. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Award Agreement shall continue in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24. **Entire Agreement**. The Plan is incorporated herein by reference. The Plan and this Award Agreement (including the exhibits, appendices, and addenda attached to the Notice of Grant) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof, and may not be modified adversely to Participant's interest except by means of a writing signed by the Company and Participant.

\* \* \*

**APPENDIX A**

**VOCODIA HOLDINGS CORP.**

**2022 EQUITY INCENTIVE PLAN**

**COUNTRY ADDENDUM TO RESTRICTED STOCK UNIT AGREEMENT**

Unless otherwise defined herein, capitalized terms used in this Country Addendum to Restricted Stock Unit Agreement (this "**Country Addendum**") will be ascribed the same defined meanings as set forth in the Restricted Stock Unit Agreement of which this Country Addendum forms a part (or the Plan or other written agreement as specified in the Restricted Stock Unit Agreement).

 ****

***Terms and Conditions***

This Country Addendum includes additional terms and conditions that govern the Award of Restricted Stock Units granted pursuant to the terms and conditions of the Vocodia Holdings Corp 2022 Equity Incentive Plan (the "**Plan**") and the Restricted Stock Unit Agreement to which this Country Addendum is attached (the "**Restricted Stock Unit Agreement**") to the extent the individual to whom the Restricted Stock Units were granted ("**Participant**") resides and/or works in one of the countries listed below. If Participant is a citizen or resident (or is considered as such for local law purposes) of a country other than the country in which Participant is currently residing and/or working, or if Participant relocates to another country after the Award of Restricted Stock Units is granted, the Company, in its discretion, will determine to what extent the terms and conditions contained herein will apply to Participant.

 ****

***Notifications***

This Country Addendum also may include information regarding exchange controls and certain other issues of which Participant should be aware with respect to Participant's participation in the Plan. The information is based on the securities, exchange control and other Applicable Laws in effect in the respective countries as of December 31, 2022. Such Applicable Laws often are complex and change frequently. As a result, the Company strongly recommends that Participant not rely on the information in this Country Addendum as the only source of information relating to the consequences of Participant's participation in the Plan because the information may be out of date at the time Participant vests in or receives or sells the Shares covered by the Restricted Stock Units.

In addition, the information contained in this Country Addendum is general in nature and may not apply to Participant's particular situation, and the Company is not in a position to assure Participant of any particular result. Participant should seek appropriate professional advice as to how the Applicable Laws in Participant's country may apply to Participant's situation.

Finally, if Participant is a citizen or resident of a country other than the one in which Participant currently is residing and/or working, transfers residence and/or employment to another country after the grant of the Restricted Stock Units, or is considered a resident of another country for local law purposes, the information in this Country Addendum may not apply to Participant in the same manner.

**I.** **GLOBAL PROVISIONS APPLICABLE TO PARTICIPANTS IN ALL COUNTRIES OTHER THAN THE UNITED STATES** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **Foreign Exchange Considerations**. Participant understands and agrees that neither the Company nor any Parent, Subsidiary or the Service Recipient shall be liable for any foreign exchange rate fluctuation between Participant's local currency and the U.S. dollar that may affect the value of the Restricted Stock Units, or of any amounts due to Participant under the Plan or as a result of vesting in his or her Restricted Stock Units and/or the subsequent sale of any Shares acquired under the Plan. Participant agrees and acknowledges that he or she will bear any and all risk associated with the exchange or fluctuation of currency associated with his or her participation in the Plan. Participant acknowledges and agrees that Participant may be responsible for reporting inbound transactions or fund transfers that exceed a certain amount. Participant is advised to seek appropriate professional advice as to how the exchange control regulations apply to his or her Restricted Stock Units and Participant's specific situation and understands that the relevant laws and regulations can change frequently and occasionally on a retroactive basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **Nature of Grant**. The following provisions supplement Section 11 of the Restricted Stock Unit Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Restricted Stock Units and the Shares subject to the Restricted Stock Units are not part of normal or expected compensation or salary for any purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Participant acknowledges and agrees that no Service Recipient shall be liable for any foreign exchange rate fluctuation between Participant's local currency and the United States Dollar that may affect the value of the Restricted Stock Units or of any amounts due to Participant pursuant to the settlement of the Restricted Stock Units or the subsequent sale of any Shares acquired upon settlement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) no claim or entitlement to compensation or damages shall arise from forfeiture of the Restricted Stock Units resulting from the termination of Participant's status as a Service Provider (for any reason whatsoever whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant's employment or service agreement, if any), and in consideration of the grant of the Restricted Stock Units to which Participant is otherwise not entitled, Participant irrevocably agrees never to institute any claim against any Service Recipient, waives Participant's ability, if any, to bring any such claim, and releases each Service Recipient from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, Participant shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. **Data Privacy*. Participant hereby acknowledges the collection, use and transfer, in electronic or other form, of Participant's personal data as described in this Award Agreement and any other Restricted Stock Unit grant materials by and among, as applicable, the Service Recipients for the exclusive purpose of implementing, administering and managing Participant's participation in the Plan.***

 ****

***Participant understands that the Company and the Service Recipient may hold certain personal information about Participant, including, but not limited to, Participant's name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any Shares or directorships held in the Company, details of all Restricted Stock Units or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in Participant's favor ("Data"), for the exclusive purpose of implementing, administering and managing the Plan.***

 ****

***Participant understands that Data may be transferred to a stock plan service provider, as may be selected by the Company in the future, assisting the Company with the implementation, administration and management of the Plan. Participant understands that the recipients of the Data may be located in the United States or elsewhere, and that the recipients' country of operation (e.g., the United States) may have different data privacy laws and protections than Participant's country. Participant understands that Participant may request information about sharing, processing, and storage of Data and may exercise their rights with respect to the Data, which may include the right to terminate sharing, processing, and storage, by following instructions in the Company's Personnel Privacy Notice or by contacting Participant's local human resources representative. Participant authorizes the Company, any stock plan service provider selected by the Company and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing Participant's participation in the Plan. Participant understands that Data will be held only as long as is necessary to implement, administer and manage Participant's participation in the Plan.***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **Language**. If Participant has received the Restricted Stock Unit Agreement or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

## Exhibit 5.1

**Exhibit 5.1**

January 31, 2023

Vocodia Holdings Corp

6401 Congress Avenue

Suite #160

Boca Raton, FL 33487

Re: <u>Registration Statement on Form S-1</u>

Ladies and Gentlemen:

We have acted as legal counsel to Vocodia Holdings Corp, a Wyoming corporation (the "<u>Company</u>") in connection with the Registration Statement on Form S-1, filed by the Company with the Securities and Exchange Commission (the "<u>Commission</u>") on January 31, 2023 (the "<u>Registration Statement</u>"), pursuant to the Securities Act of 1933, as amended (the "<u>Securities Act</u>"), for the registration of up to 2,538,216 shares of the Company's common stock, par value $0.0001 per share (the "<u>Common Stock</u>"), which includes (i) up to 2,142,858 shares (the "<u>Shares</u>") of the Company's Common Stock; (ii) up to 321,429 Shares in the event that Alexander Capital, L.P., acting as representative of the underwriters and the sole book-running manager (the "<u>Representative</u>") exercises its over-allotment option in full; (iii) warrants (the "<u>Representative Warrants</u>") to purchase up to 64,286 Shares (the "<u>Representative Warrant Shares</u>") of Common Stock issuable upon the exercise of the Representative Warrants, to be issued to the Representative as compensation for its services pursuant to the underwriting agreement to be entered into by and between the Company and the Representative (the "<u>Underwriting Agreement</u>"), and (iv) Representative Warrants to purchase up to 9,643 additional Representative Warrant Shares in the event that the Representative exercises its over-allotment option in full; (v) the Representative Warrant Shares listed in (iii) and (iv) of the foregoing. The Shares, the Representative Warrants and the Representative Warrant Shares are collectively referred to as the "<u>Securities</u>" for the purposes hereof.

The Securities are to be sold by the Company pursuant to the Underwriting Agreement approved by the Company's Board of Directors, or a committee thereof. This opinion is being furnished to you in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act and may be relied upon by all purchasers of the Securities in the offering described in the Prospectus (as defined below).

You have requested our opinion as to the matters set forth below in connection with the Registration Statement. For purposes of rendering that opinion, we have examined: (i) the Registration Statement; (ii) the most recent prospectus included in the Registration Statement being filed with the Commission as of the date of this opinion letter; (iii) the form of Underwriting Agreement; (iv) the Company's current Certificate of Incorporation (as amended, the "<u>Charter</u>") and Amended and Restated Bylaws (the "<u>Bylaws</u>"), each of which has been filed with the Commission as an exhibit to the Registration Statement; and (v) the records of the corporate actions of the Company relating to the Registration Statement and the authorization for issuance and sale of the Securities, and matters in connection therewith. We have reviewed such other matters and made such other inquiries as we have deemed necessary to render the opinions expressed herein. For the purposes of this opinion letter, we have assumed that each document submitted to us is accurate and complete, that each such document that is an original is authentic, that each such document that is a copy conforms to an authentic original, the conformity to the original or final versions of the documents submitted to us as copies or drafts, including, without limitation, the Charter, and that all signatures on each such document are true and genuine.

In rendering our opinion below, we have also assumed that: the Company will receive consideration for the Securities offered and sold pursuant to the Underwriting Agreement at least equal to the par value of such share of Common Stock and in the amount required by the Underwriting Agreement. We have not verified any of those assumptions.

Our opinion set forth below is limited to the applicable provisions of Title 17 of the Wyoming Statutes and the Wyoming Business Corporation Act.

Based upon and subject to the foregoing, and provided further that the Registration Statement and any required post-effective amendment thereto have all become effective under the Securities Act and the prospectus included in the Registration Statement that is declared effective by the Commission (the "<u>Prospectus</u>"), required by applicable law have been delivered and filed as required by all such laws, it is our opinion that:

The Securities are duly authorized for issuance by the Company and, when issued and paid for as described in the Prospectus and the Underwriting Agreement, will be validly issued, fully paid and non-assessable.

The opinion set forth above is subject to the following additional assumptions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) All Securities offered pursuant to the Registration Statement will be issued and sold (a) in compliance with all applicable federal and state securities laws, rules and regulations and solely in the manner provided in the Registration Statement and the Prospectus, and (b) only upon payment of the consideration fixed therefor in accordance with the Underwriting Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To the extent that the obligations of the Company under any agreement pursuant to which any Securities offered pursuant to the Registration Statement are to be issued or governed, including, but not limited to, any amendment or supplement thereto, may be dependent upon such matters, we assume for purposes of this opinion letter that (a) each party to any such agreement other than the Company will be duly organized, validly existing and in good standing under the laws of its jurisdiction of organization; that each such other party will be duly qualified to engage in the activities contemplated thereby; (b) each such agreement and the applicable Shares will have been duly authorized, executed and delivered by each such other party and will constitute the valid and binding obligations of each such other party, legally enforceable against each such other party in accordance with their terms and conditions; (c) each such other party will be in compliance, with respect to acting in any capacity contemplated by any such agreement, with all applicable laws, rules and regulations; and (d) each such other party will have the requisite organizational and legal power and authority to perform its obligations under each such agreement.

We assume no obligation to update or supplement any of our opinions to reflect any changes of law or fact that may occur. We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to this firm in the related Prospectus under the caption "Legal Matters." In giving our consent, we do not hereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations promulgated thereunder.

---

| |
|:---|
| Very truly yours, |
| */s/ Carmel, Milazzo & Feil LLP* |
| Carmel, Milazzo & Feil LLP |

---

## Exhibit 10.1

**Exhibit 10.1**

**BILL OF SALE AND ASSIGNMENT**

This Bill of Sale and Assignment (this **"Assignment"**) is made and entered into 1st day of August, 2022 (the "**Effective Date**"), by and between (1) **VOCODIA HOLDINGS CORP**, a Wyoming corporation ("**Assignee**"), on the one hand, and (2) each of **JAMES SPOSATO** and **BRIAN PODOLAK** (each individually, an "**Assignor**", and, collectively, "**Assignors**"), each Assignor being an individual and an officer, director and/or significant shareholder of Assignee, on the other.

WHEREAS, Assignors (individually, jointly and/or in common) are the sole owners of all rights, title and interest in, to and under the Vocodia IP (as defined on <u>Schedule A</u> attached hereto); and

WHEREAS, the Assignors desire to transfer all of their rights, title and interest in, to and under the Vocodia IP;

NOW THEREFORE, in consideration of Six Million Shares (6,000,000), the other mutual promises, covenants, and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties hereto, intending to be legally bound, agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Assignment</u>. Each Assignor does hereby, both individually and jointly with the other Assignor, grant, assign, transfer, convey and deliver to VUC, and VHC does hereby receive and accept from Assignors, free and clear of all mortgages, liens, security interests, encumbrances and other adverse claims of third parties, all of such Assignor's right, title and interest in and to the Vocodia IP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>As-Is/Where-Is</u>. Assignee acknowledges and agrees that the assignment of the Vocodia IP hereunder is on an "as-is/where-is" basis without any representation or warranty as to the Vocodia IP on the part of Assignors (except as set forth in Section 1).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Disclosure</u>. Each Assignor shall fully disclose all of the Vocodia IP to Assignee and keep and maintain all material written records with respect thereto, which records shall be available to Assignee at all times. Each Assignor will assist Assignee in obtaining and enforcing patent, copyright and other forms of legal protection for any of the Vocodia IP in any country or other jurisdiction. Upon Assignee's request, each Assignor will execute all applications, assignments, instruments and other documentation, and perform all such other and further acts, deemed necessary or desirable by Assignee to more fully and completely: (i) assign and transfer any of the Vocodia IP to Assignee (or its successors, assigns or nominees), and/or (ii) enable Assignee (or its successors, assigns or nominees) to secure and enjoy the full and exclusive benefits and rights of or under the Vocodia IP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>No Assumption of Liabilities</u>. Notwithstanding anything to the contrary set forth herein, Assignee does not hereunder and will not by acceptance hereof assume any liabilities or obligations whatsoever of either or both Assignors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Further Actions</u>. Form time to time, as and when requested by Assignee, the Assignors shall execute and deliver (or cause to be executed and delivered) such other and further documents and instruments and shall take (or cause to be taken) such other and further as may be reasonably requested by Assignee in order to further evidence, effect or consummate the transactions effected under this Assignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Effective Time</u>. This Assignment shall be deemed effective on and as of the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Counterparts</u>. This Assignment may be executed in two or more identical counterparts, and it shall not be necessary that any one of the counterparts be executed by all of the parties hereto. Each fully or partially executed counterpart shall be deemed an original, but all of such counterparts taken together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Binding Effect</u>. This Assignment shall inure to the benefit of, and be binding upon, the successors, executors, administrators, legal representatives and assigns of the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Governing Law</u>. This Assignment shall be construed under and enforced in accordance with the laws of the State of Wyoming.

IN WITNESS WHEREOF, the parties have executed this Assignment as of the day and year first above written.

---

| | | |
|:---|:---|:---|
| **<u>Assignors:</u>** | | |
| */s/ James Sposato* | */s/ Brian Podolak* | */s/ Brian Podolak* |
| **JAMES SPOSATO** | **BRIAN PODOLAK** | **BRIAN PODOLAK** |
|  | ACCEPTED AND AGREED by | ACCEPTED AND AGREED by |
|  | **Assignee:** | **Assignee:** |
|  | **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
|  | a Wyoming corporation | a Wyoming corporation |
|  | By: | */s/ Brian Podolak* |
|  | Name: | Brian Podolak |
|  | Title: | Chief Executive Officer |

---

**<u>Schedule A</u>**

<u>Vocodia IP</u>

As used in the Assignment, the following terms have the following meanings:

"**Vocodia System**" means, collectively, a core technology is divided into two (2) main platforms: Digital Intelligence Sales Agent ("DISA") and Switch Platform ("SP") and a host of other software systems for campaign management and other tasks; DISA is a stand-alone, fully proprietary software system that can handle input for both inbound and outbound phone calls and SMS and Webchat conversations; utilizing proprietary Natural Language Processing (NLP), DISA tracks user context and responds to the calling platform with instructions on how to handle the user interaction; SP handles the physical layer of call connectivity with VOIP carriers, by processing call requests from our call engines; the SP handles the management of the call processes with both the carriers and the DISAs; all software systems, databases, web sites, testing software, etc. are hosted on Microsoft Azure Cloud utilizing a variety of programming languages as needed for the sub-system; these languages include C#, .Net Core and .Net Framework, HTML, JavaScript, jQuery, NodeJS, and Go; storage technologies in use include Cosmos DB, Cosmos Tables, and Blob storage; the architecture of the VHC System was designed in a way to ensure clients have their own assets and are not impacted by the size of any other company clients; this design also allows for HIPPA and PCI compliance across any client silo where it is required.

"**Vocodia IP**" means and includes (1) all intellectual property created, developed or owned by either or both Assignors (whether individually, jointly with each other, and/or jointly with third parties) that comprises, is a component of, or derives from, improves, enhances and/or modifies the Vocodia System; but does not include, however, any intellectual property created, developed or owned by either or both Assignors (whether individually, jointly with each other, and/or jointly with third parties) (x) not utilizing any facilities, systems or resources of VHC or any of its subsidiaries, customers or clients and (y) not used or useable in the Vocodia System, its operation, maintenance, connectivity or functionality (collectively "<u>Vocodia System IP</u>"); and (2) to the extent related to any Vocodia System (a) any and all patents, registered and unregistered trademarks, service marks, logos, corporate and trade names, brands, domain names, social media accounts and handles, licenses, registered and common law copyrights, and all applications therefor, (b) all Software, database rights and any other rights in the Software, and (c) all inventions, discoveries, techniques, processes, methods, formulae, designs, trade secrets, confidential information, know-how, data and ideas, whether or not reduced to writing.

"**Software**" means, collectively, all websites, computer software and firmware, source codes, object code(s), executable code(s), data, databases, user interfaces and related documentation.

## Exhibit 10.2

**Exhibit 10.2**

**C** **ommercial Lease**

THIS COMMERCIAL lease is made and entered into this<u> </u>day of May 2021 by and between Catexor Limited Partnership-I, (the "<u>Lessor"</u>), a Florida Limited Partnership, whose address is 2730 SW 3rd Avenue, Suite 800, Miami, Florida 33128-2237 and <u>Vocodia Group, LLC</u> (the "<u>Lessee"</u>), a <u>Delaware Limited Liability Corporation</u> (state of origin/type of entity), whose address, <u>900 Linton Boulevard, Suite 213B, Delray Beach, FL 33444</u>.

**WITNESSETH:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **<u>Lease of Premises</u>.** In consideration of the mutual promises, covenants and conditions herein contained, and the rent reserved by Lessor, Lessor hereby leases, lets and demises unto Lessee, and Lessee hereby rents of and from Lessor, the following premises (the "<u>Premises"</u>):

Portion of Suite No. <u>160</u> of the commercial building (the "Building") described on Exhibit "A" with a street address of <u>6401 Congress Avenue, Boca Raton, Florida</u> located within the development known as <u>Amtec Center</u> (the "<u>Project</u>") described on Exhibit "B",

together with easements and improvements appurtenant thereto, but subject to easements, restrictions and other matters of record. The actual locations, numbers, sizes and dimensions of all improvements, landscaping and parking areas may deviate from the descriptions thereof shown on the Exhibits hereto.

Lessee acknowledges and agrees that it is leasing the "Premises" and that the "leasable area of the Premises" is set forth in Article 7 (A)(4) only for purposes of calculating the pro rata share of the operating costs of the Premises. Lessee acknowledges and agrees that Lessee is satisfied with the square footage calculation and any consequent percentage calculations and accepts the same and waives herein, and forever hereafter, any right to object to the square footage calculation of the Premises, set forth herein or in any other ancillary document to this Commercial Lease and hereby conclusively and finally accepts such measurements and accepts all statements herein relating to such measurements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Term</u>.** The term of this Lease (the "Term") shall begin on the date this L**e**as**e** is **e**xecut**e**d **designated below in Subsection D,** and continue until the <u>five (5) year, four (4) month</u> anniversary (the "<u>Termination Date</u>") of upon the first to occur of the following (the "<u>Commencement Date"</u>):

---

| | |
|:---|:---|
| A | The dat**e** upon which L**e**ss**ee** tak**e**s possession of th**e** offic**e** portion of th**e** Pr**e**mis**e**s: or |

---

---

| | |
|:---|:---|
| B | Fiv**e** days aft**e**r a c**e**rtificat**e** of occupancy is issu**e**d for th**e** improv**e**m**e**nts d**e**scrib**e**d in Exhibit "C" h**e**r**e**of (th**e** <u>"Workl**e**tt**e**r"</u>); or |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**C.** _______days from th **e** date hereof,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. **The lease term is targeted to commence on or before August 1, 2021 and would expire on or before November 30, 2026.** 

**Certificate of Lease & Rent Commencement Lessor and Lessee will execute the attached Exhibit "E" once the Lease Commencement Date is confirmed.**

unless this Lease is sooner terminated, or extended, pursuant to the terms and conditions hereof. If Lessor is unable to give possession of the Premises on the Commencement Date by reason of the holding over of any tenant, or because construction, repairs or improvements are not completed, all Rent and other payments due on the Commencement Date shall abate for the period that possession by Lessee is delayed. If Lessee causes such delay, Rent and such other payments shall not abate. Notwithstanding the foregoing, Lessor shall not be responsible for direct or consequential damages because of its inability to furnish possession to Lessee by any particular date. In the event of any such delay, the Termination Date shall not be extended. **Notwithstanding anything in the foregoing, provided Lessee executes the lease and paid the Security Deposit and Prepaid Rent outlined in the Lease, if Lessor fails to deliver the premises to Lessee by October 1, 2021, Lessor shall have the right to terminate this Lease without any further obligation to Lessor and Lessor shall return any monies paid by Lessee to Lessor.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Holding Over</u>.** In the event of holding over by Lessee after expiration of the Term or the earlier termination of this Lease without the written consent of Lessor, Lessee shall pay as liquidated damages for the entire holdover period, on a per diem basis, double (i) the greater of Rent or the then current fair market monthly rental of the Premises <u>and</u> (ii) any Additional Rent due under this Lease (calculated on the basis of Rent with respect to the month immediately preceding the month in which expiration or termination occurs) for the entire holdover period. In the event of any unauthorized holding over, Lessee shall also indemnify Lessor against all claims for damages by any other tenant to whom Lessor may have leased all or any part of the Premises covered hereby effective after the termination of this Lease. No payments of money by Lsessee after the expiration of the Term or the earlier termination of this Lease will reinstate, continue or extend the Term; reduce the liability of Lessee to Lessor for damages; or affect any termination notice given by Lessor to Lessee. No extension of the Term will be valid unless and until the same will be reduced to writing and signed by both Lessor and Lessee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>Construction of Improvements</u>.** Lessor has completed or will complete construction of the Building in which the Premises are located. The Workletter attached hereto as Exhibit "C" describes the leasehold improvements to be made in and to the Premises by Lessor and or Lessee, together with a designation of the person(s) or entity(ies) by whom such improvements are to be constructed and/or installed. Except for completion of any remaining items which are Lessor's responsibility under the Workletter, and except for defects which are not observable upon a reasonable inspection and about which Lessee notifies Lessor in writing within six months after taking possession of the Premises, the taking of possession of the Premises by Lessee will be conclusive evidence as to Lease that: (a) the Building and each and every part and appurtenance thereof are in good and satisfactory condition; and (b) Lessee waives any defects in the Premises and all other parts of the Building and the Project.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>Rent</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. **<u>Annual Rent</u>.** Lessee agrees to pay Lessor, without demand, notice, set-off or deduction, rent ("<u>Rent</u>") as adjusted annually for increases in the cost of living as set forth in subparagraph B hereof, beginning on the Commencement Date. Rent shall be <u>Eighty Thousand forty and 00/100 Dollars ($80,040.00)</u> per annum plus applicable Florida State Sales Tax. Lessee's covenant to pay Rent and other sums due hereunder are independent of Lessor's covenants hereunder and Lessee shall have no right to withhold any such payments on account of any alleged failure by Lessor to perform or comply with any of the terms of this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. **<u>Cost of Living Adjustments to Rent</u>.** On each anniversary date of the Lease, an adjustment shall be made in the next 12 monthly installments of Rent by\* multiplying Rent by the in the Consumer Price Index (the "Index"), U.S. City Average for All Urban Consumers (CPI U), All Items Index (1982 84 - 100)-published by the Bureau of Labor Statistics of the United Slates Department of Labor (the "Bureau"). Rent shall be the greater of (i) Rent for the previous calendar year or (ii) the figure obtained by the following formula:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Rent** | **-** | **Rent** | **X** | <u>Adjustment Level</u> |
| for current |  | for previous |  | Base-Level |
| calendar year |  | calendar year |  |  |

---

<u>"Adjustment Level</u>" shall mean the level of the Index in effect for the month of September in the previous calendar year. "<u>Base Level</u>" shall mean the level of the Index in effect for the month of September in the calendar year prior to the previous ealendar year. If the compilation and/or publication of the Index shall be transferred to any other departments bureau, or agency of the United States Government, or if the Bureau shall adopt a successor Index, the Index published by such successor department, bureau of agency shall be adopted and used as-a standard for-computing cost of living adjustments to the Base-Rent. If no successor index is published, Lessor shall substitute therefore a comparable index based upon changes in the cost of living or purchasing-power of the consumer dollar published by any other governmental agency, a major bank or other financial institution-, university or a recognized financial publication. In the event no Index is published for September of any calendar year during the Term, the levels for computation shall be established by Interpolation from the published levels nearest to the date on which the levels are to be determined. After publication of all statisties necessary for calculation of the Rent applicable to any calendar year during the Term, Lesser-shall compute the amount of-annual Rent to be paid by Lessee during such calendar year and shall notify Lessee thereof in writing by December 15th-of each year, setting forth the manner in,-and-statistics upon, which the new Rent was computed. If the annual amount of Rent payable during any calendar year has not or cannot be computed by the due date of the first installment(s) thereof, Lessee shall continue-to pay monthly installments of Rent until the amount of the new installments has been computed. Lessee shall pay thereafter the deficiency for the period where the annual amount-of Rent-payable was not or could not have been computed with the installment(s) of Rent next maturing.

\* a fixed three (3) percent increase per annum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**C. <u>Method of Payment</u>.** Rent shall by payable in equal monthly installments in advance on the first (1 st) day of each calendar month of the Term to Lessor at the following address:

---

| | |
|:---|:---|
|  | Amtec Center |
|  | c/o CBRE, Inc. |
| Lease No. __________ | Property ID: 0ADS01 |
|  | P.O. Box 6076 |
|  | Hicksville, NY 11802-6076 |

---

(the "<u>Payment Address</u>"), or at such other place Lessor may from time to time designate in writing. Such rent shall be due automatically and without notice from Lessor. If the Commencement Date is not on the first (1 st) day of a calendar month, Rent for the period between the Commencement Date and the first (1st) day of the following month shall be apportioned, on a per diem basis, at the monthly rental rate hereinabove provided, and shall be payable on the Commencement Date. Lessee shall not pay more than two monthly installments of Rent in advance (the current month and one additional month) without the prior written consent of all mortgagees of the Project.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. **<u>Use, Excise, Sales and Other Taxes</u>.** In addition to the Rent and other amounts herein reserved, Lessee shall also pay the amount of any use, excise, sales or other tax on any rental (as defined by the appropriate governmental entity), including, but not limited to, sales tax on Operating Costs, and other amounts due hereunder imposed by the State of Florida and any federal, state or local governmental or agency. Such taxes and other assessments shall be paid as Additional Rent at the same time and in the same manner as each payment of Rent. Lessee shall pay before delinquency any and all taxes and assessments, including licenses, sales, business corporation or other taxes, fees or charges levied or imposed upon its business operations in the Premises, including, but not limited to, taxes or assessments imposed upon trade fixtures, leasehold improvements, merchandise and other personalty in or upon the Premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. **<u>Expenditures by Lessor</u>.** If Lessor shall make any expenditure for which Lessee is liable under this Lease, the amount thereof shall be deemed Additional Rent due and payable by Lessee with the succeeding installment of Rent (unless some other date is expressly provided herein for payment of such amount) together with interest thereon at the rate per annum equal to five percent plus the prime rate, as the same is announced from time to time by the Chase Manhattan Bank, N.A., at its principal place of business in New York City or, if lower, the highest rate permitted by applicable law (the "<u>Applicable Interest Rate</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. **<u>Additional Rent</u>.** All amounts payable by Lessee under this Lease in addition to Rent or as Additional Rent shall be payable and recoverable in the same manner as Rent.

6. **<u>Security Deposit</u>.** Lessee has deposited with Lessor, and Lessor hereby acknowledges receipt of, <u>Twenty One Thousand Two Hundred Seventv-Two and 76/100 Dollars ($21,272.7</u>6) (the "<u>Security Deposit</u>") which shall be held by Lessor, without accrual of interest, as security for the faithful performance by Lessee of all of the terms of this Lease and not as an advance rent deposit or a measure of Lessor's damages in the case of Lessee's default. Such Security Deposit shall not be mortgaged, assigned, transferred or encumbered by Lessee without the express prior written consent of Lessor. If Lessee shall fail to perform any of the terms of this Lease, then Lessor, at its option and without prejudice to any other remedy which Lessor may have on account thereof, may appropriate and apply all or any part of the Security Deposit toward the payment of any Rent or additional sum due hereunder or to any loss or damage sustained by Lessor due to such breach on the part of Lessee; and Lessee shall forthwith upon demand restore the Security Deposit to the original sum deposited. Any funds paid by Lessee to Lessor as part of the Security Deposit or as a deposit or advance pursuant to the terms of this Lease, or any exhibit, addendum or modification hereto, may be commingled with other funds of Lessor and need not be placed in trust, deposited in escrow or otherwise held in a segregated account. Should Lessee comply with all of the terms hereof and promptly pay all of the rentals and all other sums payable by Lessee to Lessor as they become due, the Security Deposit shall be returned in full to Lessee within 30 days after the end of the Term. In the event of a bankruptcy or other creditor/debtor proceeding against Lessee, the Security Deposit shall be deemed to be first applied to the payment of Rent and other charges due Lessor for all periods prior to the filing of such proceedings. Lessor may deliver the Security Deposit and any other deposit made hereunder by Lessee to the purchaser of Lessor's interest in all or any part of the Project and thereupon Lessor shall be discharged from any further liability with respect to such deposit; provided that such successor has assumed all of Lessor's responsibilities and duties hereunder in writing; and this provision shall also apply to any subsequent transferee of Lessor

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. **<u>Operating Costs</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. **<u>Definitions</u>**. In addition to Rent described in Article 5 hereof, and other amounts due hereunder, beginning on the Commencement Date Lessee shall pay as Additional Rent its pro rata share of all expenses, costs and disbursements of every kind and nature which Lessor shall pay or be obligated to pay because of or in connection with the ownership, operation and maintenance of the Building, including but not limited to, the following (the "<u>Operating Costs</u>"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) **<u>Services</u>.** The cost of providing the services and maintaining, repairing and managing the Common Areas (as hereinafter defined), including, without limitation, supplies; professional fees; service contracts; employees' wages, taxes, and benefits; reasonable management fee; utilities not separately metered to the Premises; garbage collection and waste removal; security expenses; pest control; window cleaning and landscaping.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) **<u>Taxes and Assessments</u>.** Any real estate taxes, assessments of any kind, sewer rents, rates and charges, parking taxes, and other federal, state or local government charges, general, ordinary or extraordinary, which may now or hereafter be levied or assessed against the Building and the Project Common Areas (collectively the "<u>Taxes</u>"). In the event such Taxes are not separately assessed, Lessor shall reasonably determine the amount of the applicable tax attributable to the Building and the Project Common Areas. If at any time during the Term (or any renewal or extension thereof) the method of taxation then prevailing is altered to impose taxes directly upon Lessor in place or partly in place of the Taxes, then all such new taxes imposed directly upon Lessor shall be included within Operating Costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) **<u>Insurance</u>.** All premiums for public liability, fire and extended coverage or all risk, business interruption, and/or any other insurance coverage which may reasonably be carried by Lessor with respect to the Building and the Project common Areas.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) **<u>Capital Investment Items</u>.** Contribution for amortization of the cost of all capital investment items which are primarily for the purposes of increasing the operating efficiency of the Building or the Project Common Areas, reducing Operating Costs, improving controlled access to the Building or the Project, or attempting to satisfy what may be required by any governmental authority. The amount of the annual contribution shall be determined by using an amortization schedule and applying the useful life of the item (as determined under I.R.S. regulations for the applicable year or by any other standard reasonably adopted by Lessor) and the Applicable Interest rate in accordance with generally accepted accounting principles.

Lessee's pro rata share of such Operating Costs shall be in the same ratio that Leasable area of the Premises bears to the Usable Area of the Building. The "Leasable area of the Premises" is <u>5336</u> square feet. The usable area of the building is <u>180,819</u> square feet. "<u>Building Common Areas</u>" shall include (a) automobile parking areas, driveways, courtyards, plazas and footways shown on Exhibit "A", if any (if not included in Project Common Areas); (b) elevator, lobby and stairway areas; (c) elevators; (d) all corridors shared by more than one tenant; (e) all restrooms shared by more than one tenant; (f) all the exterior walls of the Building; and (g) interior walls and areas shared by all tenants in the Building. "<u>Project Common Areas</u>" shall mean such portion of the Project which Lessor from time to time designate as Project Common Areas and which benefit or are arguably for the use of tenants, owners and occupants of the Project. Project Common Areas may include (a) automobile parking areas, driveways and footways shown on Exhibit "B" which are not maintained by and at the expense of any tenant or occupant of the Project pursuant to a separate agreement with Lessor and (b) open or landscaped areas shown on Exhibit "B", and (c) any other areas so designated by Lessor. "<u>Common Areas</u>" shall collectively mean the Building Common Areas and the Project Common Areas.

Lessee's prorata share is <u>2.95%</u> <u>(5336 sf/l80,819 sf</u>).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. **<u>Annual Budget</u>.** Lessor shall, prior to January 1st of each year, provide Lessee with an estimate of the Operating Costs for the next calendar year, which estimate shall be prepared by Lessor using the latest information available. Lessee shall pay to Lessor with each monthly installment of rent Additional Rent equal to one twelfth (I/I2th) of Lessees annual pro rata share of the estimated Operating Costs based upon the budget for that calendar year. Lessor shall within ninety (90) days after the close of each calendar year during the Term give Lessee a statement of such year's actual Operating Costs with a comparison of the estimated Operating Costs for the previous year (the "Actual Costs Statement"). Within thirty (30) days after the delivery of the Actual Costs Statement, Lessee shall be entitled to take a credit in the same amount of any overpayment against the next installment of Rent due or, if appropriate, Lessee shall pay Lessor, a lump sum payment of the difference between Lessee's pro rata share of estimated Operating Costs for the previous calendar year and Lessee's pro rata share of the actual Operating Costs for such year. Should this Lease commence or terminate any other time than the first day of a calendar year, the lump sum payment adjustment shall be calculated by using a fraction, the numerator-of which is the number of days of the Tenn during the commencement or termination year, as the case may be, and the denominator of 365. During the last full or partial calendar year during the Term, Lessee pro rata share of Operating Costs shall be based solely upon the estimate of Operating Costs prepared by Lessor for such calendar year. **Operating Costs for 2021 are estimated to equal $7.46 psf.**

**Within ninety (90) days after receipt of Lessor's statement setting forth actual Operating Costs, Lessee shall have the right to audit at Lessor's local offices, at Lessee's expense, Lessor's accounts and records relating to Operating Costs. Such audit shall be conducted by a certified public accountant approved by Lessor, which approval shall not be unreasonably withheld, or by Lessee's independent lease administration consultants who shall not be compensated on a contingency or percentage basis. If such audit reveals that Lessor has overcharged Lessee, the amount overcharged shall be paid to Lessee within thirty (30) days after the audit is concluded. If such audit reveals that Lessor has undercharged Lessee, the amount of undercharge shall be paid by Lessee to Landlord within 30 days after the audit is conducted. In addition, if the Operating Costs included in the Actual Costs Statement exceed the actual Operating Costs which should have been charged to Lessee by more than five percent (5%), the cost of the audit shall be paid by Lessor. Lessee may not withhold any payment due as set forth in this Lease pending completion of the audit. Lessor shall have the right to review the audit findings before Lessor agrees to payment.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. **<u>Use</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. <u>General Use Restriction</u>.** Lessee shall use the Premises only for <u>general office</u> (the "Permitted Uses") and shall not leave the Premises vacant or suffer or permit any waste or mistreatment thereof. Throughout the Term, Lessee shall, at its own expense, comply with all laws, ordinances, orders, rules and regulations of any municipal county, state or federal governmental authority or other governmental authority having or claiming jurisdiction over the Project, Lessee or Lessor (a "<u>Governmental Authority</u>"), and shall obtain licenses and permits required with respect to the Permitted Uses. Lessor, at its sole option, may cancel this Lease if Lessee fails to provide the applicable municipality's (and/or, if applicable, county's) written approval (i.e., occupational license) of Lessee's intended use of the Premises. If during the Term, any law, regulation or rule requires that an alteration, repair, addition or other change be made to the Premises, such work is to be done at Lessee's expense. Lessee also agrees to abide by, and cause its agents, employees, licensees and invitees to abide by, the **reasonable** rules and regulations promulgated by Lessor, from time to time and as amended. Lessor shall not be liable to Lessee for the violation of any rules and regulations by any other tenant or person, and the failure to enforce any such rules and regulations against Lessee or any other tenant shall not constitute a waiver thereof by Lessor. A copy of the existing rules and regulations is attached hereto and made a part hereof as Exhibit "D". In the event of any conflict between the provisions of this Lease and the rules and regulations, the provisions of this Lease shall control. Lessee shall not allow the Premises to be occupied by more than five (5) persons per 1,000 square feet of rentable area.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B. <u>Park Covenants</u>.** If the Project is located in, is part of, or subsequent to the date hereof is incorporated into any office park, industrial park, business park or similar entity (the "Park"), this Lease shall be subject to all of the terms, covenants, restrictions, development criteria or other such regulations for the Park (the "Covenants"). Lessee hereby accepts its leasehold estate subject to such Covenants and agrees to conform and comply with all provisions contained therein or to allow Lessor or the declarant of the Covenants to fulfill all obligations imposed pursuant thereto. Lessee shall pay, as part of its pro rata share of Operating Costs (as hereinafter defined), its proportionate share of any costs imposed upon the Project as a result of the Project's association with the Park including, but not limited to, owner's association fees, maintenance costs and real estate taxes associated with any common areas of the Park.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. **<u>Lessor's Duty to Maintain and Repair</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. **<u>Services to Lessee</u>.** Lessor agrees to use reasonable efforts to cause public utilities to furnish electricity and water necessary for operation of the Premises and the Building. Lessor also agrees to use all reasonable efforts to provide (as a part of Operating Costs) the following services (the "<u>Services</u>") to Lessee while Lessee is occupying the Premises (a) routine maintenance and electrical lighting service for all Common Areas; (b) central heat and air conditioning for all interior Building Common Areas from 8:00 A.M to 6:00 P.M. Monday through Friday (the "<u>Building Hours</u>"); (c) cold water at points of supply provided for general use of tenants of the Building; (d) routine maintenance to the roof, structure and exterior walls of the Building, reasonable wear and tear expected by both parties, including exterior painting of the Building and resurfacing of parking lots as necessary (Lessor is not responsible for maintaining windows, plate glass, doors, special storefronts or office entries), and (e) elevator service to the Premises, if applicable, twenty-four (24) hours a day, every day of the year, except during periods of servicing and repair. If Lessor shall fail to any extent to furnish any services described in this Lease, Lessor shall not be liable for damages to either person or property, nor shall such failure be construed as an eviction of Lessee nor relieve Lessee from any covenant or agreement hereof, including but not limited to the payment of Rent, Additional Rent and Operating Costs. If any Building machinery or equipment breaks down or otherwise ceases to function properly, Lessee shall have no claim for rebate of rents or damages on account of an interruption in service occasioned or resulting therefrom.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Repairs</u>. Lessor shall not be obligated to repair the roof or any other part of the Premises until written notice of the need for such repairs is given to Lessor by Lessee. Lessor shall have a reasonable opportunity to repair the roof or other part of the Premises after receiving notice from Lessee. Lessor shall not be liable to Lessee or to any third parties for damages or injuries occurring by reason of the need for such repairs. Further, Lessor shall not be liable for or required to make any repairs, or perform any maintenance, to or upon the Premises which are required by, related to or which arise out of negligence, fault, misfeasance or malfeasance of and by Lessee, its employees, agents, invitees, licensees or customers including damages that are a result of any criminal activity or break-in, in which event Lessee shall be responsible therefore. Subject to additional limitations set forth elsewhere in this Lease, Lessor's liability with respect to any defects, repairs or maintenance for which Lessor is responsible under this Lease shall be limited to the cost of such repairs or maintenance or the curing of such defect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. **<u>Lessee's Repair and Maintenance Obligations</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. **<u>Duty to Repair</u>**. Lessee shall be liable for and required to make any repairs, perform any maintenance, and satisfy any claims with respect to the Project, including the Premises, that are required by, related to, or which arise from or grow out of negligence, fault, misfeasance or malfeasance of Lessee, its employees, agents, invitees, licensees or customers, unless Lessor shall elect by written notice to Lessee to make such repairs, perform such maintenance or satisfy such claims, in which event Lessee shall repay to Lessor the cost thereof (plus an additional charge of 15%) within three days of Lessor's written demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. **<u>Duty to Maintain</u>.** Lessee shall, at its own expense, service, keep and maintain the interior of the Premises, including all plumbing, wiring, piping, heating and cooling equipment and fixtures and equipment on the interior of the Premises in good and substantial repair during the entire term of this Lease; but, such agreement of Lessee shall not apply to any damage covered by fire and extended coverage insurance. Without limiting the foregoing, Lessee is responsible for repairing, maintaining and/or replacing: windows, glass and plate glass, light bulbs, fluorescent tubes, doors,-fire sprinklers, plumbing (including toilet), and sewage lines, interior walls and finish work, floors, floor coverings, ceilings, dock lifts, dock conveyors, truck doors, and appliances lying within the perimetrical boundaries of the Premises. Lessee shall keep the sidewalks and loading areas adjacent to the Premises clean and free of all dirt and refuse. Lessee shall provide at its own expense custodial services, insect and pest control service, rubbish removal and all other services and supplies necessary to maintain or repair the Premises as set forth herein. Lessee agrees to make repairs **to the Premises** promptly as they may be needed at its own expense. All repairs shall be at least equal in quality to the original work.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. **<u>Surrender of the Premises</u>.** At the end of the Term or upon the earlier termination of this Lease, Lessee shall surrender the Premises in good condition and repair, reasonable wear and tear excepted, and in a broom-clean condition with all glass, walls, windows and doors intact. In the event of Lessee's failure to surrender the Premises in the condition required, Lessor may restore the Premises to such condition, and Lessee shall pay the cost thereof on demand. Any deposit held pursuant to Article 6 hereof may be credited against any amount payable by Lessee under this paragraph.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. **<u>Fire Safety</u>.** Lessee, at its own expense, shall install and maintain fire extinguishers within the Premises and other fire protective devices as may be **reasonably** required from time to time by Lessor **(not including fire sprinkler system),** any agency having jurisdiction and/or the insurance underwriters insuring the Premises. Lessor may install a fire sprinkler system which Lessor shall maintain unless modified by Lessee. Lessee may not modify any fire sprinkler system without the prior written consent of Lessor, which may be withheld for any reason. If Lessee modified the sprinkler system, Lessee assumes complete responsibility for such system, including all maintenance obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. **<u>HVAC</u>.** The Premises shall be serviced with its own air conditioning and heating by a heating, air conditioning and ventilating system (the "<u>HVAC System</u>"). If the HVAC System is under warranty on the Commencement date, Lessor will furnish Lessee with a copy of such warranty. At all times during the Lease, Lessee shall have a full service quarterly preventative maintenance contract for the care and repair of the HVAC System with a contractor approved by Lessor (the "<u>Approved Air Conditioning Contractor</u>"). Lessee shall hold Lessor harmless from any and all costs by Lessor as a result of Lessee's failure to keep the maintenance contract in effect. Lessee shall pay all costs, including service calls, incurred pursuant to such maintenance contract. Except as provided below, Lessee shall be responsible for all maintenance and repair costs incurred in connection with the HVAC System not covered by the maintenance contract. Lessor, at Lessor's sole option, may contract directly with the Approved Contractor with respect to the maintenance contract and bill Lessee not less than quarterly for the same. Lessee will pay all invoices for the maintenance contract within 15 days of Lessee's receipt of same.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. **<u>Right of Entry</u>.** Lessor, its agents and representatives shall have the right to enter into and upon any part of the Premises at any time either in the event of an emergency and otherwise upon reasonable notice, **no less than 24 hours prior notice (unless an emergency),** at reasonable times for the purposes of inspecting, cleaning or making repairs, alterations or additions thereto; Lessee shall not be entitled to any abatement or reduction of rent by reason thereof. The right of Lessor to enter, repair or do anything else to protect its interest, or the exercise or failure to exercise the right, shall in no way diminish Lessee's obligations or enlarge Lessor's obligations under this Lease, or affect any right or Lessor, or create any duty or liability by Lessor to Lessee or any third party. **Notwithstanding the foregoing, Lessor shall use best efforts not to interfere with Lessee use of the Premises upon their right to enter.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. **<u>Utilities</u>.** In addition to Rent, Additional Rent and Lessee's pro rata share of Operating Costs, Lessee shall pay all costs and expenses for heat, cooling, telephone service, sewer service and any and all other utilities separately metered and furnished to or used in connection with the Premises for any purpose whatsoever during the Term, promptly as each thereof shall become due and payable. In addition, Lessee shall pay all charges (whether or not separately metered) for utility services, including electricity for parking lot lighting, which are required by Lessee over and above the normal utility service provided by Lessor to the remainder of the tenants of the Building. Lessor may provide electricity or other utilities to Lessee metered by tab meters or metered in common for the whole Building (and allocated proportionately to Lessee on a square footage basis). Lessor shall bill Lessee, as Additional Rent, not less than quarterly for all utilities provided by Lessor, based on Lessor's actual costs for such utilities (including reasonable billing costs). Payment for such utilities shall be due within ten days of Lessee's receipt of the bill for such utilities. Lessor shall not be liable for any interruption or failure of utility services furnished through Lessor to the Premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. **<u>Access Control</u>.** Lessee is responsible for access control to the Premises. Lessor shall not be liable to Lessee, and Lessee shall not make any claim against Lessor, for any loss Lessee may incur by reason of break-ins, burglaries, acts of vandalism, personal injury or death. Lessor agrees to furnish Lessee two (2) keys for each door entering the Premises. Additional keys will be furnished at a reasonable charge by Lessor on an order signed by Lessee or Lessee's authorized representative. All such keys shall remain the property of Lessor. No additional locks or changes to existing locks shall be allowed on any door of the Premises without Lessor's written permission, and Lessee shall not make, or permit to be made, any duplicate keys, except those furnished by Lessor, exclusive of keys to Lessee's safes and vaults. At the end of the Term or upon the earlier termination of this Lease, Lessee shall surrender to Lessor all keys of the Premises and give to Lessor the explanation of the combination of all locks for safes, safe cabinets and vault doors, if any, that will remain in the Premises after the termination of this Lease. In the event Lessee loses or misplaces key(s) prior to or at termination of this Lease provided to Lessee by Lessor, Lessee shall be solely liable for all costs incurred by Lessor in changing lock(s) requiring such keys.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. **<u>Quiet Enjoyment</u>.** Lessor covenants that so long as Lessee pays the Rent and the other amounts reserved in this Lease and performs its agreements hereunder, Lessee shall have the right to quietly enjoy and use the Premises during the Term, subject only to the provisions of this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. **<u>Assignment-Subletting</u>.** Lessee shall not assign this Lease nor any rights hereunder, nor let or sublet all or any part of the Premises, nor suffer or permit any person of corporation to use any part of the Premises, without first obtaining the express prior written consent of Lessor, which consent **shall not be unreasonably withheld** may b**e** withheld by Lessor for any or no r**e**ason. The transfer of ten **fifty-one** percent (1051%) or more of the stock of Lessee if Lessee is a corporation, the transfer of any partnership interest if Lessee is a partnership, or the transfer of a beneficial interest in a land trust if Lessee is a land trust, shall be deemed an assignment requiring the consent of Lessor if any such transfer will effectively vest control of Lessee in an entity or person other than the entity or person then having such control. Should Lessor consent to such assignment of this Lease or to a sublease of all or any part of the Premises, Lessee does hereby guarantee payment of all Rent herein reserved and all other obligations hereunder until the expiration of the Term. No failure of Lessor to promptly collect from any assignee or sublease, or any extension of the time for the payment of such rents, shall release or relieve Lessee or any guarantor from it guaranty or obligation of payment of such rents or performance of other obligations. Should Lessor consent to such assignment or sublease, all amounts received by Lessee as consideration for the same, including, without limitation, amounts received from a sublessee in excess of amounts to be remitted by Lessee to Lessor hereunder, shall be the property of Lessor and delivered to Lessor by Lessee immediately upon receipt. Any consent by Lessor to an assignment or sublease of Lessee's rights hereunder shall be effective for that transaction only. Lessor hereby expressly reserves the right to approve or disapprove of all future assignments or subleases by Lessee or its assignee or sublease, which approval **shall not be unreasonably withheld** may b**e** w**i**thh**el**d for any or no r**e**ason. Notwithstanding the foregoing, Lessee may, upon thirty (30) days prior written notice to Lessor, assign this Lease without Lessor's consent, to a corporation with which Lessee may merge or consolidate, to any parent or subsidiary of Lessee or to a subsidiary of Lessee's parent; provided, however, that such assignment shall not affect or reduce any of the obligations of Lessee under this Lease and that Lessee shall remain primarily liable hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. **<u>Signs</u>.** Without first obtaining Lessor's express prior written which may be withheld for any or no reason, Lessee shall not place or permit to be placed or maintained upon any exterior door, roof, wall or window of the Premises or upon any portion of the interior of the Premises visible from the exterior of the Building any sign, awning, canopy, interior graphics, advertising matter or other item of any kind; will not place or maintain any decoration, lettering or advertising matter on the glass of any window or door of the Premises; and will not place or maintain any freestanding structure within or upon the Common Areas or the Premises immediately adjacent thereto. Lessee agrees to maintain such items as may be approved by Lessor in good condition and repair at all times and to remove the same at the expiration of the Term or the earlier termination of this Lease as and if requested by Lessor. Upon removal thereof, Lessee agrees to repair any damage to the Premises or Building Common Areas caused by such installation and/or removal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. **<u>Parking and Common Areas</u>.** In addition to the Premises, but subject to Lessor's reservation of rights in Article 30 hereof, Lessee shall have the right to non-exclusive use, in common with Lessor, other tenants, and the guests, employees and invitees of same, of the Common Areas for their intended purposes. The Common Areas shall be subject to the exclusive control and management of Lessor. Lessee further agrees that it and its officers and employees will park their automobiles only in the areas as Lessor may from time to time designate for employee parking, which ar**e**as may **be** **must be** within or without the Project. Lessee agrees that it will, within five (5) days after written request therefore by Lessor, furnish to Lessor the state automobile license numbers assigned to its cars and the cars of all of its employees. Lessee shall not park any truck nor delivery vehicle in the parking areas, nor permit delivery of supplies and equipment at any place or during any time period other than as designated by Lessor. In the event that Lessor deems it necessary to prevent the acquisition of public rights in and to the Building or the Project, Lessor may from time to time temporarily close portions of the Common Areas and may erect private boundary markers or take such steps as deemed appropriate for that purpose. Such action, shall not constitute or be considered an eviction or disturbance of Lessee's quiet possession of the Premises. Lessee shall have <u>twenty-one</u> (21) unassigned parking spaces within the Common Areas.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. **<u>Alteration to the Premises and Removal of Equipment</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. **<u>Approval Required</u>.** Lessee shall not make any alteration, installation, improvement or addition to the Premises, including, but not limited to, roof and wall penetrations, the installation of heating, air conditioning or ventilating equipment or the construction of a mezzanine, or increase or decrease the Usable Area of the Premises, without first obtaining the express prior written consent of Lessor. Unless Lessor has waived such requirement in writing, Lessee's request for approval of any alteration, improvement, addition or installation must be accompanied by details with respect to the proposed source of funds for payment of the cost of the item, design concept, plans and specifications, names of proposed contractors, hours of construction, proposed construction methods, and evidence of security for jobs whose cost exceeds **$5,000.00 1000** (such as payment and performance bonds).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. **<u>Complex Alterations</u>.** If the nature, volume or complexity of any proposed alteration, addition, improvement or installation causes Lessor to consult with an independent architect, engineer or other consultant, Lessee will reimburse Lessor for the fees and expenses incurred by Lessor. If any improvements will affect the Building Common Areas, Lessor may require that such work be designed by consultants designated by Lessor and be performed by Lessor or Lessor's contractors at Lessee's expense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. **<u>Standard of Work</u>.** All work to be performed by or for Lessee pursuant hereto will be performed diligently and in a first-class, workmanlike manner, in compliance with all applicable laws, ordinances, regulations and rules of any public authority having jurisdiction over the Building and/or Lessee and Lessee's insurance carriers. Lessor will have the right, but not the obligation, to inspect periodically the work on the Premises and may require reasonable changes in the method or quality of the work Lessee's work shall not interfere with the progress of any other work on the Building or the Project being performed by or on account of Lessor. Lessee's work shall be performed as quietly as possible and not unreasonably interfere or interrupt other tenant's business in the Building. In addition, Lessor reserves the right to require that all or part of Lessee's work be performed after the Building Hours or on the weekends if Lessor, in Lessor's sole discretion, determines that Lessee's work will disturb Lessor's other tenants in the Building.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. **<u>Ownership of Alterations</u>.** Upon the expiration of the Term or the earlier termination of this Lease, all additions, installations, decorations, improvements (whether temporary or permanent), fixtures (except Lessee's trade fixtures which can be removed without defacing the Premises or the Building) and alterations, whether placed there by Lessee or Lessor, shall remain a part of the Premises as the property of Lessor without compensation or allowance or credit to the Lessee. Lessee shall, however, remove such items at its expense upon Lessor's written request. If Lessee does not remove such items after Lessor's request, Lessor may remove and sell or dispose of the same at the expense of Lessee in a manner Lessor deems advisable or plac**e** such prop**erty** in st**e**rag**e** at Lessee's exp**e**n**se** **.** Carpeting, emergency lights, fire extinguishers, alarm systems, shelving and cabinetry will be deemed improvements of the Premises and not movable trade fixtures, regardless of how or where affixed. Such alterations will not be removed by Lessee from the Premises either during or at the expiration of the Term or earlier termination of this Lease and will be surrendered as a part of the Premises unless such alteration is not Building standard and Lessor has requested that Lessee remove same. Notwithstanding the foregoing, Lessee shall not be liable for removal of standard improvements to the Building made by Lessor. Any of Lessee's property remaining in the Premises ten (10) days after the expiration of the Term or earlier termination of this Lease will be deemed to have been abandoned by Lessee, and in such case such items may be retained by Lessor as Lessor's property or disposed of by Lessor without accountability to Lessee, in such manner as Lessor determines **the removal and disposal of any abandoned items will be** at Lessee s expense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. **<u>Liens</u>.** Lessee agrees that it will make full and prompt payment of all sums necessary to pay for the cost of repairs, alterations, improvements, changes or other work done by Lessee to the Premises, and further agrees to indemnify and hold harmless Lessor from and against any and all such costs and liabilities incurred by Lessee, and against any and all mechanic's, materialman's or laborer's liens arising out of or from such work which may be asserted, claimed or charged against the Premises, the Building or the Project. Notwithstanding anything to the contrary in this Lease, Lessor shall not be liable for and the interest of Lessor in the Premises and the Project shall not be subject to, any mechanic's, materialman's or laborer's liens for improvements or work made by or for Lessee, whether or not the same shall be made or done in accordance with an agreement between Lessor and Lessee. It is specifically understood and agreed that in no event shall Lessor or the interest of Lessor in the Premises be liable for or subject to any mechanic's materialman's or laborer's liens for improvements or work made by or for Lessee; and this Lease specifically prohibits the subjecting of Lessor's interest in the Premises to any mechanic's, materialman's or laborer's liens for improvements made by Lessee or for which Lessee is responsible for payment under the terms of this Lease. All persons dealing with Lessee are hereunder placed upon notice of these provisions. In the event any notice or claim of lien shall be asserted of record against the interest of Lessor in the Premise or the Project on account of or growing out of any improvement or work done by or for Lessee or any person claiming by, through or under Lessee, or tor improvements or work the cost of which is the responsibility of Lessee, Lessee agrees to have such notice or claim of lien canceled and discharged of record (either by payment and satisfaction or by removal by transfer to bond or deposit as permitted by law) within thirty (30) days after notice to Lessee by Lessor. Lessee may contest any such lien after discharging the same by transfer to a bond or deposit pursuant to Florida law. Lessee shall have the right to grant a security interest to any bank or other lending institution in Lessee's trade fixtures and equipment provided that such security interest does not attach to any part of the Premises. Upon execution of this Lease, Lessor and Lessee shall execute a Memorandum of this Lease in the form attached as Exhibit "E" hereto, which may be recorded among the Public Records of the County in which the Project is located at Lessor's sole option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. **<u>Casualty</u>.** In the event the Premises are damaged or destroyed by fire or other casualty, Lessee shall notify Lessor immediately. In the event the Premises are rendered untenantable by fire or other casualty, Lessor shall have the option of terminating this Lease or rebuilding the Premises and/or Building, and in such event written notice of the election by Lessor shall be given to Lessee not later than thirty (30) days after settlement of any of Lessor's insurance claims. In the event Lessor elects to rebuild the Premises, the Premises shall be restored to its former condition within a reasonable time, during which time Rent and Lessee's pro rata share of Operating Costs shall be abated in proportion to the part of the Premises which are untenantable. Notwithstanding the foregoing, if such damage or destruction resulted from or was contributed to by the act, omission, fault or neglect of Lessee, or Lessee's employees, invitees or agents, then there shall be no abatement of Rent and Lessee's pro rata share of Operating Costs. In the case of such restoration, Lessor and Lessee shall have the same respective obligations to construct or install improvements as are designated in the Workletter. Notwithstanding anything to the contrary contained in this Article, Lessor shall only be obligated to restore or rebuild the Premises to a building standard condition, and nothing herein shall be construed to obligate Lessor under any circumstances to repair or restore improvements made by Lessee or specially constructed by Lessor for Lessee. In the event Lessor elects to terminate this Lease, the Rent, Additional Rent and Lessee's pro rata share of Operating Costs shall be paid to and adjusted as of the date of such casualty, the Term of this Lease shall then expire and this Lease shall be of no further force or effect. Thereafter, Lessor shall be entitled to sole possession of the Premises. In the event the Premises are not repaired and tenantable within 150 days after the damage or casualty, Lessee shall have the option to terminate this Lease by written notice to Lessor at any time thereafter. bu**t** at l**e**ast thirty (30)-days prior to th**e** Pr**e**mis**es** being repair**e**d and mad**e** t**e**nantab**le** **.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. **<u>Indemnification</u>.** Lessor shall not be liable for injury caused to any person or property by reason of the failure of Lessee to perform any of its covenants or agreements hereunder, nor for such damages or injury caused by reason of any present or future defect in the Premises now or in the future existing. Lessee agrees to indemnify and hold harmless Lessor, and its managing agent, representatives, agents, servants and employees from and against any and all loss, damage, claim, demand, liability, cost or expense, including, but not limited to, **reasonable outside** attorneys' fees and expenses, by reason of any damage or injury to persons (including loss of life or illness) or property which may arise or be claimed to have arisen as a result of or in connection with the occupancy or use of the Premises or the Project by Lessee, its agents, employees, guests, contractors, licensees or invitees, or in connection with any construction of any improvements by Lessee, including, without limitation, any modification by Lessee of the sprinkler system in the Premises. In the event that any claim is alleged against Lessor and/or its successors or assigns by anyone arising out of the use or occupancy of the Premises and/or the Project by Lessee or by its representatives, agents, servants, employees, licensees, invitees or guests, it is expressly understood and agreed that at Lessor's written direction, Lessee shall take over the defense of each and every claim promptly and pay **all reasonable outside** attorney's fees, verdicts, judgments, settlement payments and all other costs and expenses whatsoever incurred in connection with the defense of all such claims, without exception, it being expressly understood that Lessee shall be and remain fully responsible for all such claims and will hold Lessor and its managing agent, representatives, agents, servants, and employees completely harmless from and against any cost or expense whatsoever in connection herewith regardless of whether Lessee or Lessor defends such claims. **Lessor agrees that the above Par. 21 shall be mutual between Lessee and Lessor.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. **<u>Insurance</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. **<u>Lessor's Property</u>.** Except as noted below, Lessor shall bear all risks of loss or physical damage on the portion of the Building constructed by Lessor (excluding any improvements made by Lessee) which is caused by fire or other casualty. Lessor shall maintain (1) standard fire and extended coverage insurance on the portion of the Building constructed by Lessor (excluding any improvements made by Lessee) and Lessor's personal property used in connection with the Building, insuring against loss or damage by fire and against loss or damage by other risks now or hereinafter embraced by "all-risk coverage", in amounts equal to the full replacement cost of the Building; and (2) rent or rental value insurance against loss of rent or rental value due to any risk insured above, including an extended coverage endorsement, in an amount equal to the annual total Rent for the Building. Such insurance shall be maintained with an insurance company authorized to do business in Florida (and the cost thereof shall be included in Operating Costs), and payments for losses thereunder shall be made solely to Lessor. Notwithstanding the foregoing, if any loss sustained by Lessor is caused by the negligence of Lessee, its agents, servants, employees, licensees, invitees or guests, then Lessee shall be liable to Lessor for the amount of the deductible under Lessor's insurance, up to a maximum of $1,000. Further Lessor shall not be responsible for loss or damage to items for which Lessee is responsible as is more fully set forth below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. **<u>Lessor's Public Liability Insurance</u>.** Lessor shall maintain comprehensive liability insurance on the entire Building and the Project in amounts desired by Lessor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. **<u>Lessee's Public Liability Insurance</u>.** Lessee shall, at its expense, provide and maintain in force during the entire Term of this Lease, and any extension or renewal hereof, public liability insurance against the liability of Lessee and its authorized representatives arising out of or in connection with Lessee's use or occupancy of the Premises with limits of coverage of not less than $250,000.00 for any property damage or loss from any one accident, and not less than $1,000,000.00 for injury to any one person from any one accident (such insurance may be procured under a combined single limit of $1,000,000.00), covering Lessee, and naming Lessor and Lessor's managing agent, as additional insured, as their interests may appear. Lessor may require Lessee to increase the foregoing limits of liability insurance from time to time to new levels reasonably required by Lessor. Each policy of such insurance shall name as the insured thereunder Lessor, Lessor's managing agent and Lessee and shall be of the type commonly known as owner's, landlord's and tenant's insurance. Such policies shall be with a company or companies reasonably acceptable to Lessor and admitted to do business in Florida.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. **<u>Lessee's Other Insurance</u>**. In addition to the foregoing insurance, Lessee shall provide, at its expense: (a) plate glass insurance providing full coverage for replacement of destroyed or damaged glass in or upon the Premises, including but not limited to destroyed or damaged laminated glass; (b) Workmen's Compensation Insurance for the benefit of all employees entering upon the Building as a result of or in connection with their employment by Lessee; (c) all other insurance required of Lessee, as an employer, pursuant to any law, rule or ordinance of any governmental authority having jurisdiction; and (d) fire casualty and extended coverage insurance on Lessee's fixtures, improvements and finishings, which policies of insurance shall be in such amounts, in such forms and issued by such companies as shall name Lessor and Lessee, Lessor's managing agent as their interests may appear. At all times during construction upon the Premises, including initial construction of the Premises prior to the Commencement Date and during any alteration of the Premises, Lessee shall obtain builder's risk insurance with such limits as Lessor shall from time to time require, and any such policy of insurance shall name as the insured thereunder Lessor, Lessor's managing agent and Lessee, as their interests may appear.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. **<u>Form of Lessee's Insurance Policies</u>.** The original of each policy of insurance obtained by Lessee or certified duplicates thereof issued by the insurance or insuring organizations shall be delivered by Lessee to Lessor, on or before ten (10) days prior to occupancy of the Premises by Lessee and proof of renewal shall be delivered to Lessor not less than fifteen (15) days prior to the expiration of any such policy. Each policy shall provide that the insurer will not cancel or change the coverage provided by such policy without first giving Lessor ten (10) days prior written notice. Each insurance policy required by this Lease shall state the expiration of the policy and also state that Lessor's coverage thereunder is primary whether or not Lessor has other collectible insurance. In addition to any other remedies that Lessor may have under this Lease, Lessor shall have the right to obtain the insurance Lessee is required to carry hereunder if Lessee should fail to carry such insurance and furnish Lessor with the required insurance certificates after notification from Lessor to do so. Lessee shall pay the cost thereof to Lessor on demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. **<u>Extraordinary Insurance</u>.** In addition to and together with Lessee's pro rata share of Operating Costs, Lessee shall pay to Lessor within ten (10) business day's of its receipt of Lessor's written request, the entire amount of any extraordinary or additional premium for insurance upon or for the Building occasioned by or resulting from Lessee's use of the Premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G. **<u>Waiver of Subrogation</u>.** Anything in this Lease to the contrary notwithstanding, to the extent permissible under the insurance policies required by this Lease and/or maintained by Lessee or Lessor with respect to the Premises, the Building or the Project and without invalidation of the same, and except as provided above with respect to deductibles under their respective insurance polices, (i) Lessor and Lessee each hereby waives any and all rights of recovery, claim, action or cause of action, against the other, its agents, officers or employees, for any loss or damage that occurs to the Premises, the Building or the Project, or any improvements thereto, or any personal property of such party therein, by reason of fire, the elements, or any other cause which could be insured against under the terms of standard fire and extended coverage insurance policies, regardless of cause or origin, including negligence of the other party hereto, its agents, officers, or employees, and (ii) each covenants that no insurer shall hold any right of subrogation against such other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H. **<u>Lessee's Property</u>.** All personal property belonging to Lessee or to Lessee's agents, servants, employees, licensees, invitees or guests which is located in or about the Building or the Premises shall be there at the sole risk of Lessee or such other person. Neither Lessor nor its agents shall be liable for any damage to either the person or the property of Lessee, or for the loss of or interruption to business, or for the loss of or damage to any property of Lessee, by theft or from any other cause whatsoever including, but not limited to, loss or damage caused in whole or in part by the Building becoming out of repair, or resulting from fire, explosion, falling plaster, steam, gas, electricity, water, rain or snow, or leaks from any part of the Premises or from the pipes, appliances or plumbing works, or from the roof, street or subsurface or from any other place or by dampness or by any other cause of whatsoever nature, including the negligence of Lessor, its agents, servants, employees, licensees, invitees or guests. Neither Lessor not its agents shall be liable for any loss or damage caused by other tenants, if any, or persons in the Premises, or caused by operations in the construction of any private, public or quasi-public work. Notwithstanding the foregoing, if any such loss sustained by Lessee is caused by the negligence of Lessor, its agents, servants, employees, licensees, invitees or guests, then Lessor shall be liable to Lessee for the amount of the deductible under Lessee's insurance, up to a maximum of $1,000. It is expressly agreed that it shall be the sole obligation of Lessee to insure, at its expense, any and all property of any nature whatsoever of Lessee's located on the Premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23. **<u>Default</u>:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. <u>Events of Default and Remedies</u>**. In the event Lessee or any guarantor of Lessee's obligation under this Lease shall (a) fail to make any rental or other payment due hereunder within ten days after the same shall become due, or (b) admit its inability to pay its debts, or (c) make an assignment for the benefit of its creditors, or (d) have its leasehold estate taken upon execution or other process of law against, Lessee, except eminent domain, or (e) abandon the Premises during the Term hereof, or (f) have any receiver appointed in any proceeding commenced against it based upon its insolvency and if such receiver is not discharged within ninety (90) days after appointment, or (g) breach or fail to perform any of the **material** agreements, covenants and/or provisions herein or comply with any applicable rule or regulation pertaining to the Building or the Project, other than the agreement to pay rental or any other payment due hereunder, and Lessee fails to use its best efforts to cure such breach or failure within fifteen days after written notice from Lessor, or (h) any proceedings are filed against Lessee or any guarantor of this lease under the Bankruptcy Code or any similar provisions of any future federal bankruptcy law, or (i) fail to vacate the Premises immediately upon the expiration of the Term or the earlier termination of this Lease, by lapse of time or otherwise; then Lessor, in any such event(s), shall have the option to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (I) Sue for rents as they become due;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(II) Terminate this Lease, resume possession of the Premises (together with all additions, alterations, fixtures
and improvements thereto) for its own account and recover immediately from Lessee any and all sums and damages for violation of Lessee's
obligations hereunder in existence or due at the time of termination and damages for Lessee's default in an amount equal to the difference
between the Rent for which provision is made in this Lease and fair rental value of the Premises for the remainder of the Lease term,
together with all other charges, rental payments, costs and expenses herein agreed to be paid by Lessee, all **actual and verifiable** costs and expenses of Lessor in connection with any attempts to re-lease or relet the Premises (including, but not limited to, broker's
fees, advertising costs and cleaning expenses), the costs of recovering the Premises, and the costs of repairs and renovations reasonably
necessary in connection with any re-leasing or reletting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(III) Resume possession and re-lease or re-rent the Premises for the remainder of the Lease term for the account
of Lessee and recover from Lessee at the end of the Lease term or at the time each payment of rent becomes due under this Lease (adjusted
to present value), as the Lessor may elect, the difference between the rent for which provision is made in this Lease and the rent received
on the releasing or re-renting, together with all costs and expenses of Lessor in connection with such re-leasing or re-rental and collection
of rent and the cost of all repairs or renovations reasonably necessary in connection with the re-leasing or re-rental, and if this option
is exercised, Lessor shall, in addition, be entitled to recover from Lessee immediately any other damages occasioned by or resulting from
the abandonment or a breach or default other than a default in the payment of rent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(IV) Accelerate the whole or any part of Rent, Additional Rent and Operating Costs for the entire unexpired
balance of the Term, as well as all other charges, payments, costs and expenses to be paid by Lessee hereunder, including but not limited
to damages for violation of Lessee's obligations hereunder in existence at the time of acceleration, so that all sums due and payable
under this Lease will be treated as payable in advance on the date of acceleration and this Lease will remain in effect. For the purposes
of determining the amount due upon acceleration, Rent, Additional Rent and Lessee's pro rata share of Operating Costs shall be treated
as fixed at the levels in effect on the date of acceleration for the remaining term of this Lease; but to the extent required by law,
the total amount so accelerated will be reduced to present value; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(V) Without terminating this Lease, enter upon the Premises, without being liable for prosecution or any claim
for damages therefore (whether caused by the negligence of Lessor or otherwise), and do whatever Lessee is obligated to do under the terms
of this Lease, in which event Lessee shall reimburse Lessor on demand for any expenses which Lessor may incur in thus effecting compliance
with the terms of this Lease.

Notwithstanding the foregoing, with respect to re-lease or re-renting the Premises, Lessor and Lessee agree that Lessor shall only be required to use the same efforts Lessor then uses to lease other properties Lessor owns or manages (or if the Premises is then managed for Lessor, then Lessor shall instruct such manager to use the same efforts such manager then uses to lease other space or properties which its owns or manages); provided, however, that Lessor (or its manager) shall not be required to give any preference or priority to the showing or leasing of the Premises over any other space that Lessor (or its manager) may be leasing or have available and may place a suitable prospective tenant in any such available space regardless of when such alternative space becomes available; provided, further, that Lessor shall not be required to observe any instruction given by Lessee about such re-letting or accept any tenant unless such offered tenant has a creditworthiness acceptable to Lessor, leases the entire Premises, agrees to use the Premises in a manner consistent with the Lease, and leases the Premises at the same or greater rent, for no more than the current term and on the same terms and conditions of this Lease without the expenditure by lessor for tenant improvements or broker's commissions.

The remedies for which provision is made in this Article shall not be exclusive and in addition thereto Lessor may pursue such other remedies as are now or hereinafter provided by law, equity or statue in the event of any breach, default or abandonment by Lessee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. **<u>Lessor's Damages</u>.** In any event, and irrespective of any option exercised by Lessor, Lessee agrees to pay and the Lessor shall be entitled to recover all **reasonable and verifiable** costs and expenses incurred by Lessor, including reasonable attorneys' fees, paralegal fees and expenses, in connection with collection of Rent or damages or enforcing other rights of Lessor in the event of a breach, default or abandonment by Lessee irrespective of whether or not Lessor elects to terminate this Lease by reason of such a breach, default or abandonment. Lessor's damages hereunder shall include, without limitation, any loss of Rent prior to or after reletting of the Premises; broker's commissions; advertising costs; reasonable costs of repairing, cleaning, repainting and remodeling the Premises for reletting; and moving and storage charges incurred by Lessor in moving Lessee's property and effects from the Premises after termination of this Lease. In the event that any court or governmental authority shall limit any amount which Lessor may be entitled to recover under this paragraph, Lessor shall be entitled to recover the maximum amount permitted under law. Nothing in this Article shall be interpreted to limit Lessor's recovery from Lessee of the maximum amount permitted under law or of any other sums or damages which Lessor may be entitled to so recover in addition to the damages set forth herein. Lessee hereby expressly waives any and all rights of redemption, if any, granted by or under any present or future law in the event Lessee shall be evicted or dispossessed for any cause, or in the event Lessor shall obtain possession of the Premises by virtue of the provisions of this Lease, or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. **<u>Additional Costs</u>.** All past due installments of Rent and other sums of money due and payable from Lessee to Lessor under this Lease shall bear interest at the Applicable Interest Rate from the date due until paid. In addition to the foregoing, if any payment of rent is not received within ten (10) days after the date due, Lessee shall pay Lessor an additional $10.00 per day for each day of delinquency after the due date to the date paid, which amount represents an estimate of Lessor's administrative costs reasonably related to collecting and accounting for such late payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. **<u>Lien for Rent</u>.** In order to secure Lessee's payment of all rental and other sums due hereunder, Lessee hereby grants to Lessor an express contractual lien upon all property of Lessee now or hereafter placed in or upon the Premises, except such part of such property as may be exchanged, replaced or sold from time to time in the ordinary course of Lessee's operations, and all such property will be and remain subject to such lien of Lessor and, subject to foreclosure in accordance with the applicable laws of the State of Florida. Such express lien will be in addition to and cumulative of any landlord's lien provided by the laws of the State of Florida. For the purpose of securing all rental and other sums due hereunder, this Lease shall also be deemed a security agreement under the Uniform Commercial Code as such is in effect in the State of Florida, and Lessor shall have all rights and remedies provided by such Uniform Commercial Code. Lessor and Lessee agree that five (5) days notice of public or private sale in the event of foreclosure of the rights of Lessor under this security agreement shall be reasonable notice. Lessee agrees to execute from time to time, Uniform Commercial Code financing statements required by Lessor to perfect the lien hereby created.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. **<u>Survival</u>.** All of Lessee's obligations under this Article shall survive the termination of this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24. **<u>Waiver or Estoppel - Remedies are Cumulative</u>.** The failure of Lessor to insist, in any one or more instances, upon strict performance of any covenants or agreements of this Lease, or exercise any option of Lessor herein contained, shall not be construed as a waiver or relinquishment for the future of such covenant, agreement or option, but the same shall continue and remain in full force and effect, and Lessor shall have the right to require strict performance or to declare a default at any time and take such action as might be lawful or authorized hereunder, either in law or in equity. Receipt of Rent or other payments due hereunder by Lessor, with knowledge of the breach of any covenant or agreement hereof, shall not be deemed a waiver of such breach and no waiver by Lessor of any provision hereof shall be deemed to have been made unless expressed in writing and signed by Lessor. Lessor's receipt of less than the full amount due from Lessee shall not be construed to be other than a payment on the account of the amounts then due, nor shall any statement on Lessee's check or letter accompanying Lessee's payment be deemed an accord and satisfaction, and Lessor may accept such payment as a partial payment only. Any and all rights and remedies which are available to Lessor and which are either set forth herein or are generally available to Lessor under applicable law are cumulative in nature and none shall exclude any other rights or remedies allowed by law or equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25. **<u>Subordination and Attornment</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. **<u>Subordination</u>**. All rights and interests of Lessee hereunder are and shall be and remain subject, subordinate and inferior to all mortgages, heretofore or hereafter encumbering the Premises or the Project, or any part thereof, and to all renewals, modifications, consolidations, replacements and extensions of any such mortgage. The right of the holder of any such mortgage shall at all times be and remain prior and superior to all rights and interest of Lessee. This provision shall constitute a self-operative subordination agreement with respect to all such mortgages and all renewals, modifications, consolidations, replacements and extensions thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. **<u>Attornment</u>.** Lessee further covenants and agrees that if the Lessor of any ground lease acquires title to the Project through termination of assignment of such ground lease or if the holder of any mortgage acquires the Premises by foreclosure or deed in lieu of foreclosure, or if any other party acquires the Premises as a purchaser at any foreclosure sale (any such lessor of any ground lease, holder of any mortgage or purchaser at a foreclosure sale being each hereinafter referred to as the "Purchaser"), Lessee will thereafter, but only at the option of the Purchaser, as evidence by the written notice of the purchaser's election given to Lessee within a reasonable time after the Purchaser's acquisition of title, remain bound by novation of otherwise to the same effect as if a new and identical lease containing the terms of this Lease between the Purchaser, as lessor, and Lessee, as lessee, had been entered into for the remainder of the Term of the Lease effective on the date of the Purchaser's acquisition of title.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. **<u>Further Documentation</u>.** If the holder of any such mortgage or any person, firm or corporation agreeing to make a loan secured by a mortgage on the Building, the Premises or the Project shall require confirmation of any subordination for which provision is herein made or a separate subordination agreement with respect to any mortgage transaction, Lessee shall execute such confirmation or subordination agreement, within ten (10) days of Lessor's request for the same, in the form required by such mortgage holder or other person, firm or corporation agreeing to make a loan secured by a mortgage on the Building, the Premises or the Project, and the execution of the same shall not diminish or affect the liability of Lessee hereunder or of any other party responsible for or guaranteeing the obligations of Lessee under this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26. **<u>Estoppel Certificates</u>.** Lessee will, at any time and from time to time, within five days after the request of Lessor, execute, acknowledge and deliver to Lessor a certificate executed by Lessee certifying: (a) whether or not this Lease is unmodified and is in full force and effect (or, if there have been modifications, the extent to which this Lease is in full force and effect as modified and stating the modifications), (b) whether or not there are then existing any defaults on the part of Lessor or any offsets or defenses against the enforcement of any provisions of this Lease by Lessor (and if so, specifying the same), (c) the dates, if any, to which Rent, Operating Costs and Additional Rental and other charges have been paid, (d) the address to which notices to Lessee should be sent, (e) that Lessor has completed the improvements to the Premises Lessor is responsible for completing under the Workletter and that Lessee has accepted the same; (f) that Lessee is in possession of the Premises and (g) such other matters as Lessor shall **reasonably** request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27. **<u>Condemnation</u>.** Should the Premises or the Building be taken appropriated or condemned for public purposes, or voluntarily transferred in lieu of condemnation, in whole or in such substantial part as to render the Building unsuitable for Lessor's purposes, materially adversely affect the value of the Building or the Project, or the Premises unsuitable for Lessee's purposes, then the Term shall, at the option of Lessor in the first and second instances and at the option of Lessee in the third instance, terminate when Lessee's right to possession is terminated. If neither party exercises this option to terminate by notice to the other party within ten days after the date of such taking, or if the portion of the Premises or the Building taken, appropriated, condemned or voluntarily transferred in lieu of condemnation does not render the Building unsuitable for Lessor's purposes or the Premises unsuitable for Lessee's purposes, then this Lease shall terminate only as to the part taken or conveyed on the date Lessee shall yield possession, and Lessor shall make such repairs and alterations as may be necessary to make the part not taken usable, and the rental payable hereunder shall be reduced in proportion to the part of the premises taken. The Premises shall be deemed unsuitable for Lessee's purposes only if the portion of the Premises taken is so great that Lessee cannot continue to conduct business in a manner comparable to the manner in which Lessee conducted its business prior to the taking. Lessor reserves unto itself, and Lessee assigns to Lessor, all right to damages or compensation accruing on account of any taking, appropriation, transfer in lieu of condemnation, or condemnation of any part of the Premises, the Building or the Project, or by reason of any act of any public or quasi-public authority for which damages are payable, including, without limitation, any award for the value of the unexpired portion of the Term. Lessee agrees to execute such instruments of assignment as may be **reasonably** required by Lessor, to join with Lessor in any petition for the recovery of damages if requested by Lessor, and to turn over to Lessor any such damages that may be recovered in any such proceeding. Lessor does not reserve to itself, and Lessee does not assign to Lessor, any damages payable for on account of interruption in Lessee's business, for moving and relocation expenses and for depreciation to, removal of and/or loss of trade fixtures installed by Lessee at its cost and expense which are not part of the Premises. Notwithstanding the foregoing, no temporary taking of the Premises, and/or Lessee's rights therein, by a public or quasi- public agency under the right of eminent domain will terminate this Lease or give Lessee any right to any abatement of Rent, Additional Rent or any other payment to be made by lessee under this Lease unless **such temporary taking lasts longer than thirty (30) days.** Any award made to Lessee by reason of any temporary taking will belong entirely to Lessee and Lessor will not be entitled to share in such award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28. **<u>Lessor's Right of Performance</u>.** In the event that Lessee fails to completely fulfill or perform any of its monetary or non-monetary duties and obligations set forth herein, Lessor may, in its sole discretion, perform or cause to be performed any and all such duties and obligations. If Lessor expends any sums of money in the performance of any of the monetary or non-monetary duties and obligations of the Lessee set forth herein, any such sums of money expended by Lessor shall become additional amounts of rental due under this Lease and shall be paid by Lessee immediately upon demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29. **<u>Liability of Lessor</u>. Provided that any purchaser assumes all of Lessor's obligations hereunder in writing,** in the event of any sale, transfer or conveyance by Lessor of the Premises, the seller shall be and hereby is entirely freed and relieved, released and discharged of all liabilities and obligations of Lessor hereunder which accrue from or after the date of such sale. It shall be deemed and construed, without further agreement between the parties or between the parties and the purchaser of the Premises, that such purchaser has assumed and agreed to carry out any and all covenants and obligations of Lessor hereunder from and after such date. Lessor shall not be liable for or responsible to Lessee for any loss or damage to any property or person occasioned by theft, fire, act of God, public enemy, injunction, riot, strike, insurrection, war, court order, requisition or order of governmental body or authority, or for any damage or inconvenience which may arise through repair or alteration of any part of the Premises, the Building or the Project, or failure to make any such repairs. Lessee will not hold Lessor liable for injury or damage to person or property caused by other tenants or persons in the Building or the Project or resulting from the operation of the elevator, heating, ventilating or air-conditioning systems, or lighting apparatus, or from falling plaster or other materials or fixtures, or from steam, gas, electricity, water, rain or dampness which may leak or flow from any part of the Building, or from the pipes, appliances, or plumbing work of the same, or from any other place. All goods or property or personal effects stored or placed by the Lessee in or about the Building shall be at the sole risk of the Lessee. Notwithstanding anything to the contrary contained in this Lease, in the event of a breach by Lessor of any of the terms, covenants and conditions of this Lease to be performed by Lessor, or if Lessor otherwise shall be liable to Lessee with respect to any matter related to or arising out of this Lease, it is specifically understood and agreed that the monetary liability of any Lessor hereunder shall be limited to the equity of Lessor in the Building. In the furtherance of the foregoing, Lessee hereby agrees that any judgment it may obtain against Lessor (and any officers, shareholders or employees of Lessor) as a result of a breach of any of the terms, covenants or conditions hereof shall be enforceable solely against Lessor's fee interest in the Project, and Lessor (and any trustees, officers, shareholders or employees of Lessor) shall never be personally liable for such judgment. This Article shall not limit any right that Lessee may otherwise have to obtain injunctive relief against Lessor or Lessor's successor in interest, or to bring any other action not involving Lessor's personal liability for monetary damages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30. **<u>Reservation of Rights by Lessor</u>.** Lessor shall have the following rights, exercisable without notice or restriction (except as provided to the contrary in subsections (a) and (e) below), without any liability to Lessee for damage or injury to person, property or business, without being deemed an eviction or disturbance of any manner of Lessee's use or possession of the Premises and without relieving Lessee from its obligation to pay all Rent when due or from any other obligation under this Lease: (a) to change the Building's and/or the Project's name or to change the Building's and/or the Project's street address upon sixty (60) days' prior notice; (b) to install, affix and maintain any and all signs on the exterior and/or interior of the Building (excluding the interior of the Premises); (c) to designate all sources, furnishings, signs, sign painting and lettering to Lessee and to designate or approve prior to installation all types and configurations of signs, window shades, blinds, window treatments, drapes, awnings or other similar items, and all internal lighting, fixtures or equipment that may be visible from the exterior of the Premises or the Building; (d) to display the Premises to prospective mortgagees and purchasers at reasonable hours, upon reasonable notification to Lessee **(not less than 24 hours),** and, during the last 12 months of the Term, to display the Premises at reasonable hours to prospective tenants, **Lessor shall take due care as to not interfere with Lessee's Permitted Use of the Premises;** (e) to display on the exterior of the Premises "for rent" or "for sale" signs provided that no such signs shall be placed or maintained on the Premises prior to the ninetieth (90th) day before the expiration or termination of this Lease; (f) to change the arrangement and/or location of entrances, parking areas, doors, corridors, elevators, stairs, toilets or other public parts of the Building and the Project; (g) to grant to any person the exclusive right to conduct any business or render any service in or to the Building or the Project, provided such exclusive right shall not operate to prohibit Lessee from using the Premises for such purposes as are permitted under this Lease; (h) to prohibit the placing of vending or dispensing machines of any kind in or about the Premises, except such machines which are for the exclusive use of Lessee, its employees and invitees, (i) to have access for Lessor and other tenants of the Building of which the Premises are a part to any mail chutes and mail boxes located in the Premises and/or Building according to the rules of the United States Post Office; (j) to close the Building of which the Premises are a part after the Building Hours and on Saturdays (except as provided otherwise herein), Sundays and national holidays except that Lessee and its employees and invitees shall be entitled to admission at all times under such regulations as Lessor prescribes for access control purposes; (k) to take any and all reasonable measures, including inspections, repairs, alterations, decorations, additions and improvements to the Premises, the Building or the Project, as may be necessary or desirable in the operation thereof or for the safety, protection or preservation thereof or Lessor's interest therein; (1) to retain at all times master keys or passkeys to the Premises; (m) to increase or decrease the size of the Project by adding additional real property to the Building or the Project or by expanding the improvements (i.e., additional stories) thereon or adding additional improvements thereto or by taking away real property from the Project; (n) to change Lessee's pro rata share of Operating Costs by recomputing the Usable Area of the Building or the project as a result of (i) expansion or reduction of the size of the Building or the Project; (ii) casualty; (iii) eminent domain or (iv) any provision(s) of this Lease; (o) to change or modify the design and layout of Building Common Areas and Project Common Areas, including, but not limited to, the parking area(s) shown on Exhibit "B" attached hereto; (p) to grant any tenant of the Building of the Project exclusive use of a portion of the parking areas serving the Building or the Project (by roping off that portion of the parking areas or otherwise); (q) establish a parking validation system and charge all users a fee for participation (including Lessee's employees, agents, invitees and licensees) or treat the costs of operation of the system as part of the Operating Costs of the Building; (r) to enter onto the Premises for repair or expansion of the Building or the Project or to use the exterior walls of the Premises and the area between the finished ceiling of the Premises and the slab of the Building floor thereabove and the area between the finished floor of the Premises floor and the finished ceiling of the portion of the Building therebelow, together with the right to locate or relocate (both vertically and horizontally), install, maintain, use, repair and replace pipes, utility lines, cables, ducts, conduits, flues, refrigerant lines, drains, sprinkler mains and valves, access panels, wires and appurtenant meters or equipment, and structural elements leading through, under or above the Premises, when deemed necessary by the Lessor for improvement of other premises in the Building or the Project; provided, however, such construction, installation and maintenance shall not materially diminish the Usable Area of the Premises or materially interfere with Lessee's intended use of the Premises; (s) to change the Building Hours; (t) to relocate Lessee to other space in the Building approximately the same size or greater than the Premises at Lessor's cost and expense; (u) to change Lessee's pro rata share of Operating Costs by replacing the applicable ratio used to compute Lessee's share with a ratio based on all allocated parking spaces or a combination of allocated parking spaces and square footage of certain areas; and (v) to close any skylights or windows in the Building not within the Premises. This Article shall not be construed to alter or create any obligations of Lessor or Lessee with respect to repairs or improvements or other obligations provided herein. Anything in this Lease to the contrary notwithstanding, the term "Lessor" shall be limited to mean and include only the then owner of the Project, or the tenant under any underlying ground lease of the Building, and not any predecessor owner or tenant. **Notwithstanding anything contained in the forgoing paragraph, Lessor shall provide not less than 24 hours' notice (unless an emergency) to Lessor of its intention to enter the Premises and Lessor shall use reasonable efforts as to not interfere with Lessee's Permitted Use of the Premises.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31. **<u>Hazardous Waste</u>.** Without limiting the foregoing, Lessee agrees to comply strictly and in all respects with the requirements of any and all federal, state and local statutes, rules and regulations now or hereinafter existing relating to the discharge, spillage, storage, uncontrolled loss, seepage, filtration, disposal, removal or use of hazardous materials, including but not limited to the Comprehensive Environmental Response, Compensation and Liability Act of 1980, the Superfund Amendments and Reauthorization Act, the Resource Conversation and Recovery Act, the Hazardous Materials Transportation Act and the Florida Hazardous Substances Law (collectively the "<u>Hazardous Waste Law</u>") and with all similar applicable laws and regulations and shall notify Lessor promptly in the event of any discharge, spillage, uncontrolled loss, seepage or filtration of oil, petroleum, chemical liquids or solids, liquid or gaseous products or any other Hazardous Materials (a "Spill") or the presence of any substance or material presently or hereafter identified to be toxic or hazardous according to any Hazardous Waste Law, including, without limitation, any asbestos, PCBs, radioactive substance, methane, volatile hydrocarbons, acids, pesticides, paints, petroleum based products, lead, cyanide, DDT, printing inks, industrial solvents or any other material or substance which has in the past or could presently or at any time in the future cause or constitute a health, safety or other environmental hazard to any person or property (collectively "<u>Hazardous Materials</u>") upon the Premises or the Project, and shall promptly forward to Lessor copies of all orders, notices, permits, applications or other communications and reports in connection with any such Spill or Hazardous Materials. Lessee shall not handle, use, generate, manufacture, store or dispose of Hazardous Materials in, upon, under or about the Premises and Project, Lessee shall indemnify Lessor and hold Lessor harmless from and against all loss, penalty, liability, damage and expense suffered or incurred by Lessor related to or arising out of (i) the presence of Hazardous Materials on the Premises; (ii) any Spill or Hazardous Material affecting the Project, including any loss of value of the Project as a result of a Spill or the presence of Hazardous Material; or (iii) any other matter affecting the Project as a result of Lessee's action or inaction within the jurisdiction of any Governmental Authority, which loss, damage, penalty, liability, damage and expense shall include, but not be limited to, (a) court costs, attorney's fees and expenses, and disbursements through and including any appellate proceedings; (b) all foreseeable and unforeseeable consequential damages, directly or indirectly, arising out of the use, generation, storage or disposal of Hazardous Materials by Lessee; (c) the cost of any required or necessary repair, clean-up or detoxification of the Project; and (d) the cost of preparation of any closure or other plans required under the Hazardous Waste Law, necessary to sell or lease the Premises or the Project.

**Lessor represents and warrants that as of the date hereof, to the best of Lessor's knowledge, including that which Lessor should have known, the Building, Project and Premise all conform with all applicable laws, rules and regulations no hazardous materials exist in or around the Building, Project or Premises. To the extent any hazardous material is located in the Premises and is not caused by Lessee, Lessor shall immediately remediate such hazardous material.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32. **<u>Invalidity of Particular Provisions</u>.** If any term or provisions of this Lease or the application thereof to any person or circumstances, shall to any extent be invalid or unenforceable, the remainder of this Lease, or the application of such term or provision to person or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each term and provision of this Lease shall be valid and enforced to the fullest extent permitted law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33. **<u>Notices</u>.** All notices required or contemplated by this Lease shall be in writing and shall be delivered in person by Lessor or Lessee or their representatives, by professional courier or by United States Certified Mail, Return Receipt Requested, addressed to the party to whom such notices is directed at the address initially set forth in this Lease, with copies to Lessor at the Payment Address, and to Lessee at the following address:

<u>6401 Congress Avenue, Suite 160</u>

<u>Boca Raton, Florida 33487</u>

By giving at least two (2) days prior written notice to the other party, either party may change its address for notices hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34. **<u>Building Hours</u>.** The Building shall be open for regular business during the Building Hours. Access shall be accommodated by the Building access control system, if any, at all other times.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35. **<u>Entire Agreement</u>**. Lessee agrees that Lessor has not made any statement, promise or agreement, or taken upon itself any engagement whatsoever, verbally or in writing, in conflict with the terms of this Lease, or which in any way modifies, varies, alters, enlarges or invalidates any of its provisions. This Lease sets forth the entire understanding between Lessor and Lessee, and shall not be changed, modified or amended except by an instrument in writing signed by **both parties,** the party again**s**t whom th**e e**nforc**e**m**e**nt of any **s**uch chang**e**, modification, or am**e**ndm**e**nt is **s**ought.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36. **<u>Representations</u>**. The taking possession of the Premises by Lessee shall be conclusive evidence that the Premises were in good and satisfactory condition at the time such possession was taken. No representations, except those contained herein, have been made on the part of Lessor with respect to the order, repair or condition of the Premises or the Building. Lessee will make no claim on account of any representations whatsoever, whether made by any renting agent, broker, officer or other representative of Lessor or which may be contained in any circular, prospectus or advertisement relating to the Premises, the Building or the Project, or otherwise, unless the same is specifically set forth in this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37. **<u>Interpretation</u>**. The covenants and agreements herein contained shall bind, and the benefit and advantages hereof shall inure to, the respective heirs, legal representatives, successors and assigns of Lessor and Lessee. Whenever used, the singular number shall include the plural, the plural shall include the singular, and the use of any gender shall include all genders. The headings set forth in this Lease are for ease of reference only, and shall not be interpreted to modify or limit the provisions hereof. All of **Lessor's and** Lessee's obligations hereunder not fully performed as of the expiration of the Term or the earlier termination of this Lease shall survive the expiration or earlier termination of the Term hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38. **<u>Governing Law and Venue</u>.** This Lease shall be construed in accordance with the laws of the State of Florida. Lessor and Lessee (and any and all guarantors of this Lease) irrevocably agree that their respective agreements and obligations hereunder (and under any Guaranty of Rent Payment) will be performable in the County where the Premises are located and that venue for any action arising under or related to this Lease (or arising under or related to any Guaranty of Rent Payment) shall be in the County where the Premises are located.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39. **<u>Attorney's Fees</u>.** In any litigation involving the interpretation of this Lease or the enforcement of any provisions hereof, the prevailing party shall be entitled to **reasonable** attorney's fees, paralegal fees, expenses and costs. When any party is entitled to attorney's fees, paralegal fees, expenses and costs hereunder, the term attorney's fees and costs shall be construed to include the payment of attorney's fees, paralegal fees, expenses and costs on appeal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40. **<u>No Partnership or Joint Venture</u>.** It is understood and agreed that nothing contained in this Lease shall be deemed or construed as creating a partnership or joint venture between Lessor and Lessee or between Lessor and any other party, or cause either party to be characterized as a "warehouseman" or a "bailee" or to be responsible in any way for the debts and obligations of the other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41. **<u>Nondisclosure of Lease Terms</u>.** Lessee acknowledges and agrees that the terms of this Lease and all addenda, exhibits and amendments hereto are confidential and constitute proprietary information of the Lessor. Lessee agrees that it and its partners, officers, directors, employees and attorneys shall not disclose the terms and conditions of this Lease or the exhibits, addenda, and amendments hereto to any other person; provided, however, that Lessee may disclose such terms to its **legal representative and** independent accountants with respect to the preparation of financial statements. Lessee shall not record this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42. **<u>Waiver of Jury Trial</u>.** Lessor and Lessee each acknowledges that it is aware of and has had the advice of counsel of its choice with respect to its rights to trial by jury under the Constitutions of the United States and the State of Florida, and each party does hereby expressly and knowingly waive and release all such rights to trial by jury in any action, proceeding or counterclaim brought by either party hereto against the other on any matters whatsoever arising out of or in any way connected with this Lease, Lessor's use or occupancy of the Premises, and/or any claim of injury or damage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43. **<u>No Offer</u>.** Submission of this Lease by Lessor to Lessee for examination and signature does not constitute an offer or option for lease. This Lease will be effective only upon execution and delivery by both Lessee and Lessor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44. **<u>Counterparts</u>.** This Lease may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute but one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45. **<u>Lessee's Authority</u>.** Lessee makes the following representations to Lessor, on which Lessor is entitled to rely in executing this Lease. (i) Lessee has the power to enter into this Lease and the transactions contemplated hereby and to perform its obligations hereunder, and by proper resolution the signatory hereto has been duly authorized to execute and deliver this Lease; and (ii) the execution, delivery and performance of this Lease and the consummation of the transactions herein contemplated shall not conflict with or result in a violation or breach of, or a default under Lessor's Articles of Incorporation or bylaws or partnership agreements, as amended, or any indenture, mortgage, deed of trust note, security agreement or other agreement or instrument to which Lessee is a party or by which it is bound or to which any of its properties is subject. Lessor may cancel this Lease if (1) Lessee is <u>a Delaware Limited Liability Corporation</u> (state of origin/type of entity) and Lessee fails to provide adequate documentation of Lessee's existence and the authority of the individual executing this Lease on behalf of Lessee within ten business days of the date of execution of this Lease; or (2) Lessee fails to deliver a financial statement **reasonably** satisfactory to Lender at or prior to the date of execution of this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46. **<u>Joint and Several Liability</u>.** If more than one party is defined as Lessee in this Lease, all of the duties, obligations, promises, covenants and agreements contained in this Lease to be paid and performed by Lessee will be the joint and several obligations of all parties defined as Lessee. Each party defined as Lessee agrees that Lessor in Lessor's sole discretion may (i) institute or bring suit against each such party, jointly and severally, or against any one or more of such parties, (ii) compromise or settle with any one or more of such parties for such consideration as Lessor may deem proper, and (iii) release one or more of such parties from liability hereunder, and that no such action by Lessor will impair or affect Lessor's right to collect costs, expenses, losses or damages incurred or suffered by Lessor from the other parties defined as Lessee, or any of such parties, not so sued, compromised, settled with or released.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47. **<u>Brokerage</u>.** Lessee warrants and represents that it has not dealt, consulted or negotiated with any real estate broker or agent in connection with this Lease other than CBRE, Inc. and <u>N/A</u> (the "<u>Designated Broker</u>"). In the event of any breach of the foregoing, Lessee hereby agrees to indemnify and hold harmless Lessor from and against any and all loss and liability resulting from or arising out of (a) all claims of any real estate broker or agent for a commission other than claims by the Designated Broker; and (b) all attorney's fees and costs incurred by the Lessor as a result of any such claims.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48. **<u>Radon Gas</u>.** Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county public health unit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49. **<u>Prepaid Rent.</u>** Due upon the Lease execution shall be the first ($10,636.38 - February 2022) and last ($11,767.79 - November 2026) months Annual Rent, Operating Costs and Florida State Sales Tax due under the Lease. For the last month's rent calculation, the Operating Costs are based on the 2021 estimate and will be subject to adjustment based on any adjustments to the Operating Costs during the lease term. **For the avoidance of doubt, all prepaid fees shall be applied to the Rents owes for those given months (subject to the final Lease Commencement Date which shall be outlined in Exhibit which will be mutually executed by Lessor and Lessee once the Lease Commencement Date is confirmed.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50. **<u>Abatement</u>.** Lessor agrees to abate the Annual Rent outlined in Par. 5 of the lease for the months of August 2021 and September 2021. Furthermore, Lessor agrees to abate fifty (50%) percent of the Annual Rent for the period of October 1, 2021 thru January 31, 2022. **The abated months may adjust subject to the final Lease Commencement Date. The attached Exhibit E will outline the Lease Commencement Date and lease months receiving full or partial Annual Rent abatement.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51. **<u>Security Deposit Credit,</u>** Provided Lessee is not or has not been in default of the Lease, Lessor agreed to credit back to Lessee one-half of the Security Deposit after month thirty-eight (38) of the lease term. Lessor will credit said amount against the Annual Rent, Operating Costs and Sales Tax due for month thirty-nine (39) of the Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52. **<u>Option to Renew</u>.** Provided Lessee is not in default and provided Lessee gives Lessor at least one hundred eighty (180) days prior written notice, Lessee shall have one (1) option to renew the lease for an additional five (5) year term at 100% fair market rent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53.  **<u>Early Occupancy.</u>** Upon full execution of the Lease, Lessee shall be allowed Early Occupancy of the Premises. During the Early Occupancy Period, Lessee shall not required to Annual Rent or Operating Costs, but will be required to place the utilities for the Premises into their name.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54. **<u>Existing Lease</u>**<u>.</u> Upon full execution of this Lease, the lease Lessee executed for space located at 6401 Congress Avenue, Suite 110 shall be null and void and of no further force and effect.

**Remainder of Page Intentionally Left Blank**

IN witness WHEREOF, Lessor and Lessee have caused this Lease to be executed as required by law on this, the day and year first above written.

Signed, sealed and delivered

in the presence of:

---

| | | | |
|:---|:---|:---|:---|
| **WITNESS:** |  | | |
| */s/ Martha Escobar* | 05/28/21 | **LESSOR: CATEXOR LIMITED PARTNERSHIP-I** | **LESSOR: CATEXOR LIMITED PARTNERSHIP-I** |
|  | Date |  |  |
| Martha Escobar |  | By: | */s/ Melanie Mochan* |
| Print Name |  |  | Catexor, Inc., Managing Partner |
|  |  |  | Stig Wennerstrom - President |
|  |  |  | or Melanie Mochan VP of Finance |
|  | Date | Date: | 05/28/21 |
| Print Name |  |  |  |

---

---

| | | | |
|:---|:---|:---|:---|
| **WITNESS:** |  |  |  |
| | 5/27/21 | **LESSEE: VOCODIA GROUP, LLC** | **LESSEE: VOCODIA GROUP, LLC** |
|  | Date |  |  |
| ![](cm250_ex10-2img04.jpg) |  | By: | */s/ Brian Podolak* |
| Print Name |  |  |  |
|  |  | Name: | Brian Podolak |
| ![](cm250_ex10-2img04.jpg) |  |  |  |
|  | Date | Title: | Managing/Member |
| Print Name |  | Date: | 5/27/21 |
|  |  | (Corporate Seal) | (Corporate Seal) |

---

Exhibit "a"

6401 Congress Avenue

Suite 160

![](cm250_ex10-2img01.jpg)

**Exhibit** **"B"**

**(Site Plan)**

![](cm250_ex10-2img02.jpg)

Exhibit "C"

Lessor's Work

Prior to the Lease Commencement Date, Lessor, at Lessor's cost will improve the Premises in accordance with the floor plan attached.

Attached as part of this Exhibit "C" is the scope of work and cost estimate of the tenant improvements provided by Lessor's general contractor. Lessor will finish the Premises in accordance with this scope of work and Lessor's maximum expenditure on the tenant improvements shall not exceed $61,650.00.

Any other improvements shall be Lessee's responsibility and cost and must be performed in accordance with the Lease. Any alterations to the Premises shall first be approved by Lessor/Lessor's Managing Agent.

![](cm250_ex10-2img03.jpg)

Exhibit "C1"

---

| | | |
|:---|:---|:---|
| **Project:** | **6401 Congress Suite 140** | ***1791 Blount Road #903 Pompano Beach, FL 33069*** |
| **Date:** | **May 25, 2021** | **Kenneth Nejib (561)239-9873** |

---

 ****

---

| | | | |
|:---|:---|:---|:---|
| ***DIV*** | ***DESCRIPTION*** | **COST** | ***DETAILS & COMMENTS*** |
| **00 72 00** | ***GENERAL CONDITIONS*** | $**2500.00** | **Clean-up, Dumpster & Misc.** |
| **00 73 00** | ***SUPERVISION*** | $**4000.00** |  |
| **0240 00** | ***DEMOLITION*** | $**0.00** |  |
| **06 10 00** | ***ROUGH CARPENTRY*** | $**0.00** |  |
| **06 20 00** | ***TRIM CARPENTRY*** | $**1000.00** | **Install Doors & Hardware** |
| **08 11 00** | ***DOORS/FRAMES*** | $**3500.00** | **Six (6) 3'-0" x 6'-8" SC Doors/HM Frame & 6'-0'"6'-8" Dbl Door** |
| **08 40 00** | ***STOREFRONT*** | $**0.00** | **Existing to Remain** |
| **08 70 00** | ***DOOR HARDWARE*** | $**1000.00** |  |
| **08 88 00** | ***INTERIOR WINDOWS*** | $**2500.00** | **Six (8) 18" Sidelights at New Offices** |
| **09 20 00** | ***INT FRAMING/GYPSUM BOARD*** | $**9000.00** | **150 LF of New Partitions** |
| **09 51 13** | ***ACOUSTICAL CEILINGS*** | $**500.00** | **Minor Repairs at New Walls** |
| **09 60 00** | ***FLOOR PREP*** | $**800.00** | **Prep at VCT Tito Covered By Carpet** |
| **09 65 13** | ***VINYL BASE*** | $**1100.00** | **600 LF ♦/-** |
| **09 65 19** | ***VCT*** | $**800.00** | **Storage Room Only Over Existing VCT Flooring** |
| **09 68 00** | ***CARPET*** | $**6600.00** | **Areas Currently Without Carpeting** |
| **09 81 00** | ***INSULATION-Acoustical*** | $**1500.00** | **New Office Walls & Garage Wall Only** |
| **O9 90 00** | ***PAINTING*** | $**4000.00** | **New Walla & Doors Only to Match Existing Paint Color** |
| **12 32 00** | ***CABINETRY/MILLWORK*** | $**0.00** | **Existing To Romain** |
| **21 10 00** | ***FIRE SPRINKLER*** | $**2500.00** | **Allowance to Reconfigure if Needed for New Offices** |
| **22 42 00** | ***PLUMBING*** | $**0.00** | **Existing To Remain** |
| **22 47 00** | ***DRINKING FOUNTAINS*** | $**3000.00** | **New** |
| **23 00 00** | ***HVAC*** | $**4200.00** | **Six (6) Supply's and Jumper Returns** |
| **26 20 00** | ***ELECTRICAL SERVICE*** | $**0.00** | **Existing to Remain** |
| **26 20 00** | ***ELECTRICAL*** | $**2500.00** | **Twelve (12) Outlets @ New Offices 2/Office Using Exist CCT's** |
| **26 50 00** | ***LIGHTING*** | $**1400.00** | **Relocate Existing Light Fixtures as Needed** |
| **27 20 00** | ***DATA/VOICE*** | $**450.00** | **Empty Boxes w/Conduit at Six (6) Offices. Wiring By Others** |
| **27 30 00** | ***EXTERIOR SIGN*** | $**0.00** | **N/A** |
| **28 31 00** | ***FIRE ALARM*** | $**0.00** | **N/A** |
|  | **INSURANCE** | $**800.00** | **LIABILITY INSURANCE** |
|  | ***ARCHITECTURAL FEES*** | $**0.00** | **BY OTHERS** |
|  | ***PERMIT FEES*** | $**0.00** | **BY OTHERS** |
|  | ***OH&P*** | $**8000.00** |  |
|  | ***PROJECT TOTAL*** | $**81650.00** |  |

---

**QUALIFICATIONS:**

---

| | |
|:---|:---|
| 1 | ***Flooring to remain In Kitchen. Install Transition Strip @ Carpat to VCT Areas*** |

---

---

| | |
|:---|:---|
| 2 | ***No Painting Except At New Walls & Doors*** |

---

---

| | |
|:---|:---|
| 3 | ***Drywall/Framing Iciudes 150' Of New Wall Includes Framif For Doors/Sidellghts & Front Of One (1) Garage Door*** |

---

---

| | |
|:---|:---|
| 4 | ***Lighting to Remain on Existing Switches*** |

---

---

| | |
|:---|:---|
| 5 | ***Offices to Receive Keyed ADA Locksets & Door Stops*** |

---

Exhibit "D"

Rules and regulations for the project

1. The sidewalks, entrances, passages, courts, elevators, vestibules, stairways, corridors or halls of the Building shall not be obstructed or encumbered, nor shall they be used for any purpose other than ingress and egress to and from the Premises or Common Areas.

2. Tenant identification shall be provided by Lessor at each tenant's expense in conformance to the signage standards for the Building and local codes. No additional signage shall be installed by a tenant.

3. Parking spaces associated with the Building are intended for the exclusive use of passenger vehicles. Except for intermittent deliveries, no vehicles other than passenger vehicles may be parked in a parking space with the express written permission of Lessor. Parking spaces designated for a specific tenant shall not be used by any other tenant.

4. Lessor shall provide trash receptacles or dumpsters at predetermined locations; it is each tenant's obligation to place all trash and debris within those containers. Should Lessee generate more than a normal amount of trash or debris or create a special type of waste calling for special treatment, then Lessor reserves the right to bill additional amounts to Lessee to cover any or all expenses incurred by Lessor in dealing with this problem.

5. Lessee shall not bum any trash of any kind in or about the Premises, nor shall Lessee permit rubbish, refuse or garbage to accumulate or any fire or health hazard to exist upon or about the Premises.

6. The toilets and urinals and other plumbing fixtures in Common Areas or in tenant spaces shall not be used for any purpose other than those for which they were constructed, and no sweepings, rubbish, rags, or other substances shall be thrown into them. All damages resulting from any misuse of the fixtures shall be borne by the tenant who, or whose servants, employees, agents, visitors or licenses, shall have caused the same. Waste and excessive or unusual use of water shall not be allowed.

7. Lessee and Lessee's employees shall not make disturbing noises, permit a nuisance about the Premises, keep birds or animals in the Premises or use such Premises for lodging, sleeping, immoral or illegal purposes or commit any act on the Premises or other parts of the Building which Lessor deems an interference with the rights, comforts and convenience of other tenants. Business machines and mechanical equipment belonging to Lessee which cause noise or vibration that may be transmitted to the structure of the Building or to any tenants in the Building shall be placed and maintained by Lessee, at Lessee's expense, on vibration eliminators or other devices sufficient to eliminate noise or vibration. Included herein is any device that emits electro-mechanical waves or radio frequencies which interfere with any other tenants devices or equipment.

8. No bicycles, vehicles or animals of any kind shall be brought into or kept in or about the Building, and no cooking shall be done or permitted by any tenant in the Building without written consent of Lessor, which may be withheld for any reason. Notwithstanding the foregoing, if Lessee's Premises contain a kitchen, Lessee may cook in its kitchen. No tenant shall cause, suffer or pennit any unusual or objectionable odors or any nuisance, to be produced upon or permeate from any premises demised to him or it.

9. Canvassing, soliciting and peddling in the Building are prohibited and Lessee shall cooperate to prevent such activity.

10. No curtains, blinds, shades, or awnings, interior window treatments or screens shall be attached to or hung in, or used in connection with, any window or door of the Premises, without the prior written consent of the Lessor. Should such permission be granted, fixtures must be of a quality, type, design and color, and must be attached in the manner approved by the Lessor.

11. Lessee shall see that all doors are securely locked, water faucets, electric lights and air conditioning thermostats turned off before leaving the Building. Lessee shall be responsible for any damage to the Premises or the Building and for all damage or injuries sustained by other tenants or occupants of the Building arising out of Lessee's failure to observe this rule.

12. No space on or in the Building shall be used for manufacturing, for the storage or retail sale of tangible personal property of any kind, unless Lessor gives its prior written consent to such manufacturing, storage or retail sale, which consent may be unreasonably withheld.

13. No tenant shall overload the floors of the Building, and each shall obtain approval from Lessor before installing any iron safe or other heavy equipment or machines. No safes, bulky or heavy articles, furniture or freight, shall be carried into the main entranceway of the Building unless arrangements are first made with Lessor. All furniture, building supplies and materials, safes and other heavy property, equipment, machinery and other freight must be moved into, within and out of the Building under the Lessor's supervision, but Lessor will not be responsible for loss of or damage to such freight from any cause. Lessor shall prescribe the time and manner for the carrying in and removal of such articles, also the right and proper position of safes and other weighty articles before they are admitted to the Building, and each tenant shall be responsible for all injury to person or property caused by the installing, maintaining or removing of such articles.

14. When electric wiring of any kind is introduced it must be connected as directed by the Lessor and no boring or cutting for wires will be allowed except with the Lessor's consent. The location of telephones, telegraph instruments, electric appliances, call boxes, etc., shall be prescribed by the Lessor. No apparatus of any kind shall be connected with the electric wiring without the written consent of the Lessor except by normal electrical plugs and outlets. The tenants agree not to use or connect with the electric wires any more lights than are provided for in each room, or any electric lamp of higher candle power than provided, or any fan, motor or other apparatus without the Lessor's written consent. The tenants agree not to connect with the waterpipes any apparatus using water, without the express prior written consent of the Lessor. Upon Lessee's occupancy, Lessor shall equip the Premises with the necessary electric lamps. Lessee shall pay for all lamps replaced by reason of breaking or burning out during Lessee's occupancy and surrender the Premises fully equipped with operative lamps.

15. No tenant shall bore, cut or string wires, except with the prior written consent of the Lessor, and as the Lessor may direct. The expense of any breakage, stoppage or damage resulting from a violation of this Rule shall be borne by the tenant who has caused such breakage, stoppage or damage. Lessee may place nails, paint or screws in the walls of the Premises necessary to secure artwork on such walls. Notwithstanding the foregoing, Lessee shall be responsible for fully repairing damage to the Premises resulting from such nails or screws prior to termination of the Lease.

16. The requirements of the tenants will be attended to only upon application at the management office of the Building. Building management employees and contractors shall not perform any work or do anything outside of their regular duties, unless under special instructions from the Lessor.

17. No tenant, nor any of the servants, employees, agents, visitors or licensees of a tenant, shall at any time bring or keep upon the Building any flammable, combustible or explosive fluid, firearms, chemical or substance, or any matter forbidden or regulated by any insurance company at risk with respect to all or any part of the Building. Lessee shall not make any use of the Premises which would make void or voidable any policy of fire or extended coverage insurance covering the Premises, the Building or the Project. Lessee, at its own cost and expense, shall comply with any reasonable request relating to the Premises or Lessee's use and occupation thereof, of any insurance company insuring the Premises, (he Building or the Project, or Lessor with respect thereto.

18. Lessee shall not use or do, or allow anything to be used or done, upon the Premises which may be dangerous, explosive or damaging to life or limb.

19. No auction, fire or bankruptcy sale may be conducted on the Premises without express prior written consent of Lessor, which consent may be withheld for any reason.

20. The Lessor may waive or modify any one or more of these rules for the benefit of any particular tenant of the Building, but no such waiver by the Lessor of any such rules shall be construed as a waiver or modification of such rule in favor of any other tenant or tenants of the Building, nor prevent the Lessor from thereafter enforcing any such rule against any or all of the tenants of the Building. Lessor reserves the right to make such other and further rules and regulations as in its judgment may from time to time be necessary for the safety and cleanliness of, and for the preservation of good order in the Building and the Common Areas. These rules shall be applied to each tenant on a non-discriminatory basis.

**EXHIBIT "E"**

**CERTIFICATE OF LEASE & RENT COMMENCEMENT**

**Date: _________**

Leased Premises ("Premises"): 6421 Congress Avenue, Suites 110, Boca Raton, Florida 33487

The following is hereby confirmed as to the Leased Premises:

1. With reference to the lease dated ______ ,2021 between Vocodia Group, LLC, LESSEE, and Catexor Limited
Partnership I, LESSOR, possession has been delivered to and accepted by LESSEE. In addition, LESSEE and LESSOR hereby establish the lease
commencement date to be _________.The lease expiration date shall be

2. All terms, conditions and duties to be satisfied by LESSOR as to space and improvements of the Premises
in order for the rental to commence have been satisfactorily completed and there exists no default on the part of the LESSOR and no claim
which might warrant a future credit other than outstanding punch list items to be detailed in a subsequent letter to Lori Laye, CBRE,
Inc.

3. Operating Cost rent as stipulated in Article Seven of the lease commences in full force and effect as
of_______. Annual Rent as stipulated in Article Five of the lease shall commence in full force and effect as of ________ **.** 

4. Of the advance rental prepaid by LESSEE, $________ applies to the period of ____________ to__________.
Therefore, the first payment due LESSOR shall be $<u> </u>.due
____________for the period of to, which represents Expense Rent at $<u> </u>,
plus sales tax, per square foot and Base Rent at $<u> </u>,
plus sales tax, per square foot.

5. Rent payment shall be made payable to Catexor Limited Partnership-I and mailed c o Amtec Center, property
ID OADSOI, PO Box 6106, Hicksville, New York 11802-6106, or elsewhere as designated by LESSOR.

Please sign the acknowledgment below and return the original to LESSOR.

Acknowledgment

**LESSEE: Vocodia Group, LLC**

---

| | |
|:---|:---|
| By: |  |
|  | **Catexor, Inc. - General Partner** |
|  | **Stig Wennerstrom - President** |

---

## Exhibit 10.3

**Exhibit 10.3**

**EXECUTIVE EMPLOYMENT AGREEMENT**

**THIS EXECUTIVE EMPLOYMENT AGREEMENT** (the "**Agreement**") is made and entered into as of January 1, 2022 (the "**Effective Date**"), between Vocodia Holdings Corp., a Wyoming corporation, whose principal place of business is 6401 Congress Avenue, Suite 160, Boca Raton, FL 33487 (the "**Company**") and Mark Terrill, an individual whose mailing address is 2339 Treasure Island Dr. Palm Beach Gardens, Florida 33410 (the "**Executive**").

**RECITALS**

**WHEREAS,** the Company desires to employ the Executive and the Executive desires to be employed by the Company and to enter into a formal employment agreement for the benefit and protection of all of the parties.

**NOW, THEREFORE**, in consideration of the mutual agreements herein made, the Company and the Executive do hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **<u>Recitals</u>**. The above recitals are true, correct, and are herein incorporated by reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **<u>Employment</u>**. The Company hereby employs the Executive as the Company's Chief Operations Officer, and the Executive hereby accepts employment, upon the terms and conditions hereinafter set forth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. **<u>Duties and Responsibilities</u>**. During the term of this Agreement, the Executive shall serve as Chief Operations Officer for the Company, and shall have all power and authority inherent in the office of Chief Operations Officer and shall be responsible for those areas in the conduct of the business reasonably assigned to him by the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **<u>Term</u>**. Subject to termination rights set forth in <u>Section 6</u> below, the Term of employment hereunder will commence on the Effective Date and terminate three (3) years thereafter (the "**Initial Term**"). Following the expiration of the Initial Term and subject to termination rights set forth in <u>Section 6</u> below, this Agreement shall automatically renew for successive one (1) year periods (each, a "**Renewal Term**"), unless either party hereto notifies the other party in writing of its desire not to renew this Agreement at least ninety (90) days prior to the expiration of the Initial Term or any Renewal Term, as applicable. For purposes of this Agreement, the Term (the "**Term"**) shall include the Initial Term and all Renewal Terms.

---

| | |
|:---|:---|
| 1 | ![](cm250_ex10-3img01.jpg) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5. <u>Compensation and Benefits</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **<u>Salary</u>**. The Executive shall be paid an initial base salary (the "**Base Salary**"), payable twice monthly, at an annualized rate of One Hundred Seventy Five Thousand Dollars ($175,000) for the period commencing on the Effective Date and ending at the end of the Term; provided, however that the parties shall meet within thirty (30) days following the end of each fiscal year of the Company to determine whether any adjustments to the Base Salary are necessary; provided, further that the Base Salary shall not be decreased during the Term unless otherwise agreed to by the Executive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **<u>Bonus.</u>** The Executive shall receive an annual bonus in the amount of One Percent (1%) of the net profits after tax of the Company, which bonus shall be paid no later than seventy-four (74) days following the conclusion of the applicable Company fiscal year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **<u>Executive Benefits</u>**. The Executive shall be entitled to participate in all benefit programs of the Company currently existing or hereafter made available to executives and/or other salaried employees, including, but not limited to, pension and other retirement plans, group life insurance, hospitalization, surgical and major medical coverage, sick leave, disability and salary continuation, vacation and holidays, cellular telephone and all related costs and expenses, long-term disability, and other fringe benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **<u>Vacation</u>**. The Executive shall be entitled to four (4) weeks of paid vacation during the first year of this Agreement, four (4) weeks during the second year of this Agreement, four (4) weeks during the third year of this Agreement, and four (4) weeks during each Renewal Term. The Executive will not be paid for unused vacation time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **<u>Business Expense Reimbursement</u>**. During the term of employment, the Executive shall be entitled to receive reimbursement for all out-of-pocket expenses incurred by the Executive (in accordance with the policies and procedures established by the Company for its senior executive officers) in performing services hereunder, provided the Executive properly accounts therefor (i.e., receipts).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Consequences of Termination of Employment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **<u>Death</u>**. This Agreement and the Executive's employment hereunder shall be terminated by the death of the Executive. In the event of the death of the Executive during the Term, the Base Salary shall be paid to the Executive's designated beneficiary, or, in the absence of such designation, to the estate or other legal representative of the Executive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Disability</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) In the event of the Executive's Disability (as defined below), the Executive shall be entitled to compensation in accordance with the Company's disability compensation practice for senior executives, including any separate arrangement or policy covering the Executive. Any amounts provided for in this <u>Section 6(b)</u> shall not be offset by other long-term disability benefits provided to the Executive by the Company.

---

| | |
|:---|:---|
| 2 | ![](cm250_ex10-3img01.jpg) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) "**Disability**," for the purposes of this Agreement, shall be deemed to have occurred in the event (A) the Executive due to an illness or physical or mental infirmity (as determined by a licensed physician appointed by the Company and reasonably acceptable to the Executive) to perform the Executive's duties under this Agreement for any two (2) months in any consecutive twelve (12) month period, or (B) the Executive has a guardian of the person or estate appointed by a court of competent jurisdiction. Termination due to Disability shall be deemed to have occurred upon the first day of the month following the determination of Disability as defined in the preceding sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Anything herein to the contrary notwithstanding, if, following a termination of employment hereunder due to Disability as provided in the preceding paragraph, the Executive becomes reemployed, whether as an Executive or a consultant to the Company, any salary, annual incentive payments or other benefits earned by the Executive from such reemployment shall offset any salary continuation due to the Executive hereunder commencing with the date of re-employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)  **<u>Termination by the Company for Cause</u>** .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Nothing herein shall prevent the Company from terminating Executive's employment for Cause (as defined below). The Executive shall continue to receive the Base Salary then in effect only for the period through the date of such termination and any vested Options shall remain exercisable pursuant to the terms thereof. Any rights and benefits the Executive may have in respect of any other compensation shall be determined in accordance with the terms of such other compensation arrangements or such plans or programs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) "**Cause**," for the purposes of this Agreement, shall mean and include only those actions or events specified below in subsections (A) through (D) to the extent the same occur, or the events constituting the same take place, subsequent to the date of execution of this Agreement: (A) committing or participating in a injurious act of, gross neglect or embezzlement against the Company, monetarily or otherwise; (B) convicted of engaging in a criminal enterprise involving moral turpitude; (C) the Executive being convicted of an act or acts constituting a felony under the laws of the United States or any state thereof (excluding traffic violations) that impairs the Executive's ability to perform his duties hereunder or is materially injurious to the Company's reputation or goodwill; (D) a material breach of this Agreement that is not cured (if capable of being cured) within fifteen (15) days from receipt of written notice of such breach from the Company. Any termination of this Agreement that is not with Cause shall be deemed a termination "**Other than for Cause**."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Notwithstanding anything else contained in this Agreement, this Agreement will not be deemed to have been terminated for Cause unless and until there shall have been delivered to the Executive a notice of termination stating that the Executive committed one of the types of conduct set forth in this <u>Section 6(c)</u> contained in this Agreement and specifying the particulars thereof and the Executive shall be given a fifteen (15) day period to cure such conduct, if possible. The Executive shall be entitled to receive his entire compensation during such notice period.

---

| | |
|:---|:---|
| 3 | ![](cm250_ex10-3img01.jpg) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **<u>Termination by the Company Other than for Cause</u>**. The foregoing notwithstanding, the Company may terminate the Executive's employment for whatever reason it deems appropriate; provided, however, that in the event such termination is not based on Cause, as provided in <u>Section 6(c)</u> above, the Company may terminate this Agreement upon giving one (1) months' prior written notice. During such one (1) month period, the Executive shall continue to perform the Executive's duties pursuant to this Agreement, and the Company shall continue to compensate the Executive in accordance with this Agreement. Upon termination of this Agreement pursuant to <u>Section 6(d)</u>, <u>Section 6(f)</u>, or <u>Section 6(g)</u> at any time prior to the end of the Term, the Executive will receive, no later than thirty (30) days following such termination, a lump sum equal to twelve (12) months of the Executive's then current Base Salary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **<u>Voluntary Termination</u>**. In the event the Executive terminates the Executive's employment on the Executive's own volition (except as provided in <u>Section 6(f)</u> and/or <u>Section 6(g)</u>) prior to the expiration of the Term, such termination shall constitute a voluntary termination and in such event the Executive shall be limited to the same rights and benefits as provided in connection with a termination for Cause as provided in <u>Section 6(c)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)  **<u>Termination for Good Reason</u>**. Executive may terminate the employment relationship at any time for Good Reason (as defined herein) or without Good Reason. For the purposes of this Agreement, "Good Reason" shall mean any one or more of the following: (i) a material breach by the Company of this Agreement that is not cured (if capable of being cured) within fifteen (15) days from receipt of written notice of such breach from Executive; (ii) assignment of duties inconsistent with Executive's title, authorities, duties, or responsibilities; or (iii) the relocation of the Company's headquarters to a location twenty-five (25) miles or more from its current location.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Termination Following a Change of Control</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) In the event that a Change in Control (as defined below) or an Attempted Change in Control (as defined below) of the Company shall occur at any time during the Term, the Executive shall have the right to terminate the Executive's employment under this Agreement upon thirty (30) days written notice given at any time within one year after the occurrence of such event, and such termination of the Executive's employment with the Company pursuant to this <u>Section 6(g)(i)</u>, and, in any such event, such termination shall be deemed to be a termination by the Company Other than for Cause and the Executive shall be entitled to such Compensation and Benefits as set forth in <u>Subsection 6(h)</u> of this Agreement.

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|:---|:---|
| 4 | ![](cm250_ex10-3img01.jpg) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) For purposes of this Agreement, a "**Change in Control**" of the Company shall be deemed to have occurred at such time as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) any "person", other than the Executive, (as such term is used in section 13(d) and 14(d) of the Exchange Act) is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of (1) the combined voting power of the Company's outstanding securities then having the right to vote at elections of directors or (2) the combined economic rights of the Company's then-outstanding securities, including but not limited the right to receive distributions to equity; or,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the individuals who at the commencement date of the Agreement constitute the Board of Directors cease for any reason to constitute a majority thereof unless the election, or nomination for election, of each new director was approved by a vote of at least two thirds of the directors then in office who were directors at the commencement of the Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) the business of the Company for which the Executive's services are principally performed is disposed of by the Company pursuant to a partial or complete liquidation of the Company, a sale of assets (including stock of a subsidiary of the Company) or otherwise.

Anything herein to the contrary notwithstanding, this <u>Section 6(g)(ii)</u> will not apply where the Executive gives the Executive's explicit written waiver stating that for the purposes of this <u>Section 6(g)(ii)</u> a Change in Control shall not be deemed to have occurred. The Executive's participation in any negotiations or other matters in relation to a Change in Control shall in no way constitute such a waiver which can only be given by an explicit written waiver as provided in the preceding sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) **<u>Benefits Upon Termination of Executive Employment</u>**. In the event of any termination of Executive's employment Other than for Cause, or any termination of Executive's employment pursuant to <u>Sections 6(d)</u>, <u>6(f)</u> or <u>6(g)</u>, on the effective date of any such termination, the Executive shall be entitled to receive all life, disability and health insurance benefits to which he was entitled which shall continue for a period of twelve (12) months following the effective date of such termination, in addition to any other rights granted to Executive hereunder, including but not limited to the right to receive severance payments pursuant to <u>Section 6(d)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Covenant Not to Compete and Non-Disclosure of Information</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **<u>Covenant Not to Compete</u>**. The Executive acknowledges and recognizes the highly competitive nature of the Company's business and the goodwill, continued patronage, and specifically the names and addresses of the Company's Clients (as hereinafter defined) constitute a substantial asset of the Company having been acquired through considerable time, money and effort. Accordingly, in consideration of the execution of this Agreement, in the event the Executive's employment is terminated pursuant for any reason, then the Executive agrees to the following; *provided, however*, that Executive receives the full amount of any severance to which Executive is entitled pursuant to and in accordance with Section 6(d):

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|:---|:---|
| 5 | ![](cm250_ex10-3img01.jpg) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) That during the Restricted Period (as hereinafter defined), the Executive will not, individually or in conjunction with others, directly or indirectly, engage in any Competitive Business Activities (as hereinafter defined), whether as an officer, director, proprietor, employer, partner, independent contractor, investor (other than as a holder solely as an investment of less than 5% of the outstanding capital stock or equity of a publicly traded corporation or private company, as applicable), consultant, advisor or agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) That during the Restricted Period, the Executive will not, directly or indirectly, compete with the Company by soliciting, inducing or influencing any of the Company's Clients which have a business relationship with the Company at the time during the Restricted Period to discontinue or reduce the extent of such relationship with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **<u>Non-Disclosure of Information</u>**. Executive agrees that during the Term and any time thereafter, Executive will not except, during the Term, in the course of performing his duties for the Company (i) retain or use for the benefit, purposes or account of Executive or any other person; or (ii) disclose, divulge, reveal, communicate, share, transfer or provide access to any person outside the Company (other than its professional advisers who are bound by confidentiality obligations). Executive further agrees, all Documents in his possession at the time of his termination shall be returned to the Company at the Company's principal place of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **<u>Definitions</u>**. The following terms shall have the following meanings for purposes of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "**Company's Clients**" shall be deemed to be any partnerships, corporations, professional associations or other business organizations to whom the Company has sold products during the Executive's employment with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) "**Competitive Business Activities**" as used herein shall be deemed to mean the provision of artificial intelligence-based sales software solutions, or any other services or solutions provided by the Company at the time of termination that are material to the Company's business and account for no less than five percent (5%) of the Company's revenue for the trailing twelve (12) month period as of the date of termination of Executive's employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) "**Documents**" shall mean all original written, recorded, or graphic matters whatsoever, and any and all copies thereof, including, but not limited to: papers; books; records; tangible things; correspondence; communications; telex messages; memoranda; work- papers; reports; affidavits; statements; summaries; analyses; evaluations; client records and information; agreements; agendas; advertisements; instructions; charges; manuals; brochures; publications; directories; industry lists; schedules; price lists; client lists; statistical records; training manuals; computer printouts; books of account, records and invoices reflecting business operations; all things similar to any of the foregoing however denominated. In all cases where originals are not available, the term "Documents" shall also mean identical copies of original documents or non-identical copies thereof.

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|:---|:---|
| 6 | ![](cm250_ex10-3img01.jpg) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) "**Proprietary Information**" shall mean any non-public, proprietary or confidential information, including without limitation trade secrets, know-how, research and development, software, databases, processes, and other intellectual property, information concerning finances, investments, services, donors, investors, partners, personnel, compensation, recruiting, training, advertising, marketing, promotions, government and regulatory activities and approvals, concerning the past, current or future business, activities of the Company and/or any third party that has disclosed or provided any of the same to the Company on a confidential basis. Proprietary Information shall not include any information that is (i) generally known to the industry or the public other than as a result of Executive's breach of this covenant or any breach of other confidentiality obligations by third parties; (ii) made legitimately available to Executive by a third party without breach of any confidentiality obligation; (iii) independently developed by Executive without use of or reference to the Proprietary Information; or (iv) required by law to be disclosed; provided that Executive shall give prompt written notice to the Company of such requirement, disclose no more information that is so required, and cooperate with any attempts by the Company to obtain a protective order or similar treatment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) "**Restrictive Period**" shall mean the two (2) year period following termination of the Executive's employment with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **<u>Covenants as Essential Elements of this Agreement</u>**. It is understood by and between the parties hereto that the foregoing covenants contained in this <u>Section 7</u> and elsewhere throughout this Agreement are essential elements of this Agreement, and that but for the agreement by the Executive to comply with such covenants, the Company would not have agreed to enter into this Agreement. Such covenants by the Executive shall be construed to be agreements independent of any other provisions of this Agreement. The existence of any other claim or cause of action, whether predicated on any other provision in this Agreement, or otherwise, as a result of the relationship between the parties shall not constitute a defense to the enforcement of such covenants against the Executive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **<u>Survival After Termination of Agreement</u>**. Notwithstanding anything to the contrary contained in this Agreement, the covenants in <u>Sections 7, 8, and 9</u> shall survive the termination of this Agreement and the Executive's employment with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Remedies</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Executive acknowledges and agrees that the Company's remedy at law for a breach or threatened breach of any of the provisions of <u>Section 7(a) or (b)</u> herein would be inadequate and a breach thereof will cause irreparable harm to the Company. In recognition of this fact, in the event of a breach by the Executive of any of the provisions of <u>Section 7(a) or (b)</u>, the Executive agrees that, in addition to any remedy at law available to the Company, including, but not limited to monetary damages, all rights of the Executive to payment or otherwise under this Agreement and all amounts then or thereafter due to the Executive from the Company under this Agreement may be terminated and the Company, without posting any bond, shall be entitled to obtain, and the Executive agrees not to oppose the Company's request for equitable relief in the form of specific performance, temporary restraining order, temporary or permanent injunction or any other equitable remedy which may then be available to the Company.

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|:---|:---|
| 7 | ![](cm250_ex10-3img01.jpg) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Executive acknowledges that the granting of a temporary injunction, temporary restraining order or permanent injunction merely prohibiting the use of Proprietary Information would not be an adequate remedy upon breach or threatened breach of <u>Section 7(a) or (b)</u> and consequently agrees, upon proof of any such breach, to the granting of injunctive relief prohibiting any form of competition with the Company. Nothing herein contained shall be construed as prohibiting the Company from pursuing any other remedies available to it for such breach or threatened breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. **<u>Conflicts of Interest</u>**. Executive represents and warrants that it is able to perform the duties contemplated under this Agreement without being in breach of confidentiality agreements or disclosing proprietary information of any third party, and that no proprietary information of any third party shall be disclosed to the Company. Contractor further represents and warrants that it is not prohibited from entering into this Agreement or performing services under it by any non-competition, non-solicitation, anti-piracy agreement, relationship agreement, or any other restrictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. **<u>Confidentiality</u>**. Except as otherwise required by law, Executive will not disclose to anyone other than Executive's immediate family and legal and/or financial advisors, the contents of this Agreement; provided that Executive may disclose to any prospective future employer the provisions of <u>Section 7</u> of this Agreement provided they agree to maintain the confidentiality of such terms. Unless otherwise required by law, the Company agrees not to disclose the contents of this Agreement to anyone other than its Board, its advisors or the Company employees with a need to know.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. **<u>Intellectual Property</u>**. Executive is to promptly identify and disclose to the Company intellectual property, discoveries, inventions, technological innovations, improvements and copyrightable works conceived or made by him, solely or jointly, during his employment with the Company, relating in any manner to the business, business plans, or development plans of the Company, or conceived or made during working hours (the "**Inventions**"). All such Inventions, whether patentable or not patentable, are the exclusive property of the Company with respect to any and all countries. The term "Inventions" does not apply to an invention for which no equipment, supplies, facility or Proprietary or Confidential Information of the Company was used and which was developed entirely on the Executive's own time, and (i) which does not relate directly to the business of the Company, or (ii) which does not result from any work performed by the Executive for the Company.

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| 8 | ![](cm250_ex10-3img01.jpg) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Indemnification; Insurance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To the fullest extent permitted by applicable law, the Company shall indemnify the Executive for any loss, damage or claim incurred by the Executive by reason of any act or omission performed or omitted by the Executive while acting in good faith in the Executive's official capacity on behalf of the Company. To the fullest extent permitted by applicable law, expenses (including legal fees) incurred by the Executive in defending any claim, demand, action, suit or proceeding shall be advanced by the Company prior to the final disposition of such claim, demand, action, suit or proceeding upon receipt by the Company of an undertaking by or on behalf of the Executive to repay such amount if it shall be determined that the Executive is entitled to be indemnified as authorized in this <u>Section 11</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) During the Term and for a period of three (3) years thereafter, the Company or any successor to the Company shall purchase and maintain, at its own expense, (i) an errors & omissions insurance policy and (ii) a directors' and officers' liability insurance providing coverage to the Executive on terms that are no less favorable than the coverage provided to other directors and similarly situated executives of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. **<u>Withholding</u>**. Anything to the contrary notwithstanding, all payments required to be made by the Company hereunder to the Executive or the Executive's estate or beneficiaries shall be subject to the withholding of such amounts, if any, relating to tax and other payroll deductions as the Company may reasonably determine it should withhold pursuant to any applicable law or regulation. In lieu of withholding such amounts, the Company may accept other arrangements pursuant to which it is satisfied that such tax and other payroll obligations will be satisfied in a manner complying with applicable law or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. **<u>Notices</u>**. Any notice required or permitted to be given under the terms of this Agreement shall be sufficient if in writing and if sent; by overnight delivery; or by courier;, in the case of the Executive to the Executive's last place of business or residence as shown on the records of the Company, or in the case of the Company to its principal office as set forth in the first paragraph of this Agreement, or at such other place as it may designate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. **<u>Waiver</u>**. The failure or delay of any party at any time to require performance by another party of any provision of this Agreement, even if known, shall not affect the right of such party to require performance of that provision or to exercise any right, power or remedy under this Agreement. Any waiver by any party of any breach of any provision of this Agreement should not be construed as a waiver of any continuing or succeeding breach of such provision, a waiver of the provision itself, or a waiver of any right, power or remedy under this Agreement. No notice to or demand on any party in any circumstance shall, of itself, entitle such party to any other or further notice or demand in similar or other circumstances. A waiver shall only be effective if in writing and signed by the party waiving compliance with this Agreement.

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|:---|:---|
| 9 | ![](cm250_ex10-3img01.jpg) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. **<u>Completeness and Modification</u>**. This Agreement constitutes the entire understanding between the parties hereto superseding all prior and contemporaneous agreements or understandings among the parties hereto concerning the Executive's employment with the Company. This Agreement may be amended, modified, superseded or canceled, only by a written instrument executed by the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. **<u>Counterparts</u>**. This Agreement may be executed simultaneously in counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument. A copy of this Agreement that is signed and delivered by telecopy, facsimile or electronic (whether by PDF, any electronic signature complying with the US federal ESIGN Act of 2000 (e.g., <u>www.docusign.com</u>) or otherwise) transmission 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;17. **<u>Binding Effect/Assignment</u>**. This Agreement shall be binding upon the parties hereto, their heirs, legal representatives, successors and assigns. This Agreement shall not be assignable by the Executive but shall be assignable by the Company in connection with the sale, transfer or other disposition of its business or to any of the Company's affiliates controlled by or under common control with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. **<u>Governing Law</u>**. This Agreement and all transactions contemplated by this Agreement shall be governed by, construed and enforced in accordance with the substantive laws of the State of Florida without regard to principles of conflicts of laws. The sole, exclusive, and mandatory venue for any dispute arising from or concerning this Agreement shall be the state and federal courts located in Palm Beach County, Florida. The Parties waive, to the fullest extent allowed, any objection which the Parties may have to the venue of any such proceeding being brought in the state and federal courts located in Palm Beach County, Florida, and any claim that any such action or proceeding brought in Palm Beach County, Florida has been brought in an inconvenient forum. In addition, the Parties irrevocably and unconditionally submit to the exclusive jurisdiction of the courts located in Palm Beach County, Florida in any such suit, action, or proceeding. The Parties acknowledge and agree that a judgment in any suit, action, or proceeding brought in the courts located Palm Beach County, Florida shall be conclusive and binding on each and may be enforced in any other courts to whose jurisdiction each Party is or may be subject to, by suit upon such judgment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. **<u>Further Assurances</u>**. All parties hereto shall execute and deliver such other instruments and do such other acts as may be necessary to carry out the intent and purposes of this Agreement.

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|:---|:---|
| 10 | ![](cm250_ex10-3img01.jpg) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. **<u>Headings</u>**. The headings of the sections are for convenience only and shall not control or affect the meaning or construction or limit the scope or intent of any of the provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. **<u>Survival</u>**. Any termination of this Agreement shall not, however, affect the ongoing provisions of this Agreement which shall survive such termination in accordance with their terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.  **<u>Severability</u>**. The invalidity or unenforceability, in whole or in part, of any covenant, promise or undertaking, or any section, subsection, paragraph, sentence, clause, phrase or word or of any provision of this Agreement shall not affect the validity or enforceability of the remaining portions thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.  **<u>Enforcement</u>**. Should it become necessary for any party to institute legal action to enforce the terms and conditions of this Agreement, the successful party may be awarded reasonable attorneys' fees at all trial and appellate levels, expenses and costs, and the non- prevailing party may be required to pay for all such awarded fees, expenses and costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.  **<u>Construction</u>**. This Agreement shall be construed within the fair meaning of each of its terms and not against the party drafting the document.

**THE EXECUTIVE ACKNOWLEDGES THAT, IN EXECUTING THIS AGREEMENT, THE EXECUTIVE HAS HAD THE OPPORTUNITY TO SEEK THE ADVICE OF INDEPENDENT LEGAL COUNSEL, AND HAS READ AND UNDERSTOOD ALL OF THE TERMS AND PROVISIONS OF THIS AGREEMENT.**

[signature page follows]

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|:---|:---|
| 11 | ![](cm250_ex10-3img01.jpg) |

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**IN WITNESS WHEREOF**, the parties have executed this Agreement as of date set forth in the first paragraph of this Agreement.

---

| | |
|:---|:---|
| **THE COMPANY** | **THE COMPANY** |
| **VOCODIA HOLDINGS CORP.** | **VOCODIA HOLDINGS CORP.** |
| By: | */s/ Brian Podolak* 2/3/2022 |
| Name: | Brian Podolak |
| Title: | Chief Executive Officer |
| **THE EXECUTIVE** | **THE EXECUTIVE** |
| */s/ Mark Terrill* 2/1/2022 | */s/ Mark Terrill* 2/1/2022 |
| Mark Terrill | Mark Terrill |

---

[Signature Page to Executive Employment Agreement]

## Exhibit 10.4

**Exhibit 10.4**

**FORM OF VOCODIA HOLDINGS CORP**

**BOARD OF DIRECTORS AGREEMENT**

This **BOARD OF DIRECTORS AGREEMENT** (**"Agreement"**) dated as of January [\*], 2023, by and between Vocodia Holdings Corp, a Wyoming corporation (the **"Company"**), and the undersigned signatory (the **"Director"**), provides for director services, according to the following terms and conditions:

&nbsp;&nbsp;&nbsp;&nbsp;I. <u>Position and Responsibilities</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Position</u>. As of the Effective Date, the Board of Directors hereby appoints the Director to serve
as a Board member until the next annual meeting of the Company's shareholders or until his earlier resignation, removal or death.
The Director shall perform such duties and responsibilities as are customarily related to such position in accordance with Company's
bylaws and applicable law, including, but not limited to, those services described on **Exhibit A** attached hereto (the "Services").
Director hereby agrees to use his best efforts to provide the Services. Director shall not allow any other person or entity to perform
any of the Services for or instead of Director. Director shall comply with the statutes, rules, regulations and orders of any governmental
or quasi-governmental authority, which are applicable to the Company and the performance of the Services, and Company's rules, regulations,
and practices as they may from time-to-time be adopted or modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Other Activities</u>. Director may be employed by another company, may serve on other Boards of Directors
or Advisory Boards, and may engage in any other business activity (whether or not pursued for pecuniary advantage), as long as such outside
activities do not violate Director's obligations under this Agreement or Director's fiduciary obligations to the Company's
shareholders. The ownership of less than a 5% interest in an entity, by itself, shall not constitute a violation of this duty. Director
represents that Director has no outstanding agreement or obligation that is in conflict with any of the provisions of this Agreement,
and Director agrees to use his best efforts to avoid or minimize any such conflict and agrees not to enter into any agreement or obligation
that could create such a conflict without the approval of a majority of the Board of Directors. If, at any time, Director is required
to make any disclosure or take any action that may conflict with any of the provisions of this Agreement, Director will promptly notify
the Board of such obligation, prior to making such disclosure or taking such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Conflict</u>. Director will not engage in any activity that creates an actual or perceived conflict
of interest with Company, regardless of whether such activity is prohibited by Company's conflict of interest guidelines or this
Agreement, and Director agrees to notify the Board of Directors before engaging in any activity that could reasonably be assumed to create
a potential conflict of interest with Company. Notwithstanding the provisions of <u>Section 1(b)</u> hereof, Director shall not engage
in any activity that is in direct competition with the Company or serve in any capacity (including, but not limited to, as an employee,
consultant, advisor or director) in any company or entity that competes directly or indirectly with the Company, as reasonably determined
by a majority of Company's disinterested board members, without the approval of the Board of Directors.

The Director agrees, subject to the Director's continued status as a director, to serve on the Company's Board of Directors (the **"Board"**) and to provide those services required of a director under the Company's amended and restated certificate of incorporation and bylaws, as both may be amended from time to time (**"Charter Documents"**) and under the federal securities laws and other state and federal laws and regulations, as applicable, and the rules and regulations of the U.S. Securities and Exchange Commission (the **"SEC"**) and any stock exchange or quotation system on which the Company's securities may be traded from time to time. Director will also serve on such one or more committees of the Board as he or she and the Board shall mutually agree.

&nbsp;&nbsp;&nbsp;&nbsp;II. <u>Nature of Relationship</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Director is an independent contractor and will not be deemed as an employee of the Company for any
purposes by virtue of this Agreement. The Director shall be solely responsible for the payment or withholding of all federal, state, or
local income taxes, social security taxes, unemployment taxes, and any and all other taxes relating to the compensation he or she earns
under this Agreement. The Director shall not, in his or her capacity as a director of the Company, enter into any agreement or incur any
obligations on the Company's behalf, without appropriate Board action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Company will supply, at no cost to the Director: periodic briefings on the business, director packages
for each board and committee meeting, copies of minutes of meetings and any other materials that are required under the Company's
Charter Documents or the charter of any committee of the Board on which the Director serves and any other materials which may, by mutual
agreement, be necessary for performing the services requested under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;III. <u>Director's Representations and Warranties</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Director represents and warrants that no other party has exclusive rights to his services in the specific
areas in which the Company is conducting business and that the Director is in no way compromising any rights or trust between any other
party and the Director or creating a conflict of interest as a result of his or her participation on the Board. The Director also represents,
warrants and covenants that so long as the Director serves on the Board, the Director will not enter into another agreement that will
create a conflict of interest with this Agreement or the Company. The Director further represents, warrants and covenants that he or she
will comply with the Company's Articles, Bylaws, policies and guidelines, all applicable laws and regulations, including Sections 10
and 16 of the Securities Exchange Act of 1934, as amended, and listing rules of The Nasdaq Stock Market LLC or any other stock exchanges
on which the Company's securities may be traded; that if he or she is designated by the Board as an independent director, he or
she shall promptly notify the Board of any circumstances that may potentially impair his or her independence as a director of the Company;
and that he or she shall promptly notify the Board of any arrangements or agreements relating to compensation provided by a third party
to him or her in connection with his or her status as a director or director nominee of the Company or the services requested under this
Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Throughout the term of this Agreement, the Director agrees he or she will not, without obtaining the Company's
prior written consent, directly or indirectly engage or prepare to engage in any activity in competition with the Company's business,
products or services, including without limitation, products or services in the development stage, accept employment or provide services
to (including but not limited to service as a member of a board of directors), or establish a business in competition with the Company;
provided, however, that the Director may serve or continue to serve as an officer or director of one or more entities that are affiliated
with the Company, including without limitation, entities in which the Company does not have a majority holding.

&nbsp;&nbsp;&nbsp;&nbsp;IV. <u>Fees</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Cash Fee</u>. Subject to <u>Section VI</u> and during the term of this Agreement, the Company
shall pay the Director, if the Company does not otherwise compensate the Director as an officer or employee, a non-refundable base fee
of $12,000 ()"**Base Fee**") in consideration for the Director providing the services described in <u>Section I</u> which shall compensate him or her for all time spent preparing for, travelling to (if applicable) and attending Board or committee meetings.
In addition, the Company shall pay the Director a quarterly fee of an additional $3,750 in consideration for the Director's service
as audit committee chair ()"**Chair Fee** "). These cash fees may be revised by action of the Board from time to time. Such
revision shall be effective as of the date specified in the resolution for payments not yet earned and need not be documented by an amendment
to this Agreement to be effective. In addition, if the non-employee Director serves as the chairperson of any standing committee of the
Board, he or she may be entitled to additional cash compensation as decided by the Board (or the compensation committee thereof) in its
sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Payment</u>. The Base Fee and the Chair Fee shall be paid quarterly at the beginning of each calendar
quarter. No invoices need be submitted by the Director for payment of the Base or Chair Fee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. <u>Equity Compensation</u>. For services as a member of the Board, Director shall be granted an award
of 20,000 shares of restricted stock units (the "  **<u>RSUs</u>** "). The RSUs shall vest with respect to twenty five percent
(25%) of the total number of RSUs (5,000) on the Effective Date and twenty five percent (25%) thereafter every three (3) month anniversary
of the Effective Date until fully vested on the first (1st) anniversary of the Effective Date, subject to Director's continuous
service to the Company through the applicable vesting date. The RSUs shall otherwise be subject to the terms of the 2022 Equity Stock
Option Plan, which may be amended from time to time, pursuant to which they are granted and/or an award agreement to be entered into between
Director and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. <u>Expenses</u>. During the term of this Agreement, the Company will reimburse the Director for reasonable
business related expenses approved by the Company in advance, such approval not to be unreasonably withheld. Invoices for expenses, with
receipts attached, shall be submitted. Such invoices must be approved by the Company's Chief Executive Officer or Chief Financial
Officer as to form and completeness.

&nbsp;&nbsp;&nbsp;&nbsp;V. <u>Indemnification and Insurance</u> 

The Company will execute an indemnification agreement in favor of the Director substantially in the form of the agreement attached hereto as **Exhibit C** (the **"Indemnification Agreement"**). In addition, so long as the Company's indemnification obligations exist under the Indemnification Agreement, the Company shall provide the Director with directors' and officers' liability insurance coverage in the amounts specified in the Indemnification Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;VI. <u>Term of Agreement and Amendments</u> 

This Agreement shall commence from the date the Company's Form S-1 registration statement goes effective with the U.S. Securities and Exchange Commission (the "**Effective Date**") for the Company's proposed initial public offering of securities (the "**Public Offering**") under the Securities Act of 1933, as amended (the "**Securities Act**"), and shall continue for a period of one (1) year from the Effective Date and shall continue thereafter for as long as Director is elected as a member of the Board of Directors by the shareholders of the Company unless the Board determines not to renew this Agreement. Any amendment to this Agreement must be approved by the Board. Amendments to <u>Section IV.</u> **"Fees"** hereof do not require the Director's consent to be effective.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. This Agreement shall automatically terminate upon the death of the Director or upon his resignation or
removal from, or failure to win election or reelection to, the Board. In the event of expiration or termination of this Agreement, the
Director agrees to return or destroy any materials transferred to the Director under this Agreement except as may be necessary to fulfill
any outstanding obligations hereunder. The Director agrees that the Company has the right of injunctive relief to enforce this provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Company's and the Director's continuing obligations hereunder in the event of expiration
or termination of this Agreement shall be subject to the terms of <u>Section XIV</u> hereof.

&nbsp;&nbsp;&nbsp;&nbsp;VIII. <u>Limitation of Liability and Force Majeure</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Under no circumstances shall the Company be liable to the Director for any consequential damages claimed
by any other party as a result of representations made by the Director with respect to the Company which are materially different from
any to those made in writing by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Furthermore, except for the maintenance of confidentiality, neither party shall be liable to the other
for delay in any performance, or for failure to render any performance under this Agreement when such delay or failure is caused by Government
regulations (whether or not valid), fire, strike, differences with workmen, illness of employees, flood, accident, or any other cause
or causes beyond reasonable control of such delinquent party.

&nbsp;&nbsp;&nbsp;&nbsp;IX. <u>Confidentiality and Use of Director Information</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Director agrees to sign and abide by the Company's Director Proprietary Information Agreement
attached hereto as **Exhibit B** (the **"Proprietary Information Agreement"**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Director explicitly consents to the Company holding and processing both electronically and manually
the information that he or she provides to the Company or the data that the Company collects which relates to the Director for the purpose
of the administration, management and compliance purposes, including but not limited to the Company's disclosure of any and all
information provided by the Director in the Company's proxy statements, annual reports or other securities filings or reports pursuant
to federal or state securities laws or regulations, and the Director agrees to promptly notify the Company of any misstatement of a material
fact regarding the Director, and of the omission of any material fact necessary to make the statements contained in such documents regarding
the Director not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;X. <u>Dispute Resolution</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. *Jurisdiction and Venue*. The parties agree that any suit, action, or proceeding between Director
and Company (and its affiliates, shareholders, directors, officers, employees, members, agents, successors, attorneys, and assigns) relating
to this Agreement shall be brought in either the United States District Court for the State of Wyoming or in a Wyoming state court and
that the parties shall submit to the jurisdiction of such court. The parties irrevocably waive, to the fullest extent permitted by law,
any objection the party may have to the laying of venue for any such suit, action or proceeding brought in such court. If any one or more
provisions of this Section shall for any reason be held invalid or unenforceable, it is the specific intent of the parties that such provisions
shall be modified to the minimum extent necessary to make it or its application valid and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. *Attorneys' Fees*. Should any litigation, arbitration or other proceeding be commenced between
the parties concerning the rights or obligations of the parties under this Agreement, the party prevailing in such proceeding shall be
entitled, in addition to such other relief as may be granted, to a reasonable sum as and for its attorneys' fees in such proceeding.
This amount shall be determined by the court in such proceeding or in a separate action brought for that purpose. In addition to any amount
received as attorneys' fees, the prevailing party also shall be entitled to receive from the party held to be liable, an amount
equal to the attorneys' fees and costs incurred in enforcing any judgment against such party. This Section is severable from the
other provisions of this Agreement and survives any judgment and is not deemed merged into any judgment.

&nbsp;&nbsp;&nbsp;&nbsp;XI. <u>Entire Agreement</u> 

This Agreement (including agreements executed in substantially the form of the exhibits attached hereto) supersedes all prior or contemporaneous written or oral understandings or agreements, and, except as otherwise set forth herein, may not be added to, modified, or waived, in whole or in part, except by a writing signed by the party against whom such addition, modification or waiver is sought to be asserted.

&nbsp;&nbsp;&nbsp;&nbsp;XII. <u>Assignment</u> 

This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns and, except as otherwise expressly provided herein, neither this Agreement, nor any of the rights, interests or obligations hereunder shall be assigned by either of the parties hereto without the prior written consent of the other party.

&nbsp;&nbsp;&nbsp;&nbsp;XIII. <u>Notices</u> 

Any and all notices, requests and other communications required or permitted hereunder shall be in writing, registered mail or by facsimile, to each of the parties at the addresses provided. Any such notice shall be deemed given when received and notice given by registered mail shall be considered to have been given on the tenth (10th) day after having been sent in the manner provided for above.

&nbsp;&nbsp;&nbsp;&nbsp;XIV. <u>Survival of Obligations</u> 

Notwithstanding the expiration or termination of this Agreement, neither party hereto shall be released hereunder from any liability or obligation to the other which has already accrued as of the time of such expiration or termination (including, without limitation, the Director's obligations under the Proprietary Information Agreement, the Company's obligation to make any fees and expense payments required pursuant to <u>Section IV</u> due up to the date of the expiration or termination, and the Company's indemnification and insurance obligations set forth in <u>Section V</u> hereof) or which thereafter might accrue in respect of any act or omission of such party prior to such expiration or termination.

&nbsp;&nbsp;&nbsp;&nbsp;XV. <u>Attorneys' Fees</u> 

If any legal action or other proceeding is brought for the enforcement of this Agreement, or because of a dispute, breach or default in connection with any of the provisions hereof, the successful or substantially prevailing party (including a party successful or substantially prevailing in defense) shall be entitled to recover its actual attorneys' fees and other costs incurred in that action or proceeding, in addition to any other relief to which it may be entitled.

&nbsp;&nbsp;&nbsp;&nbsp;XVI. <u>Severability</u> 

Any provision of this Agreement which is determined to be invalid or unenforceable shall not affect the remainder of this Agreement, which shall remain in effect as though the invalid or unenforceable provision had not been included herein, unless the removal of the invalid or unenforceable provision would substantially defeat the intent, purpose or spirit of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;XVII. <u>Counterparts</u> 

This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one instrument. Execution and delivery of this Agreement by facsimile or other electronic signature is legal, valid and binding for all purposes.

[*SIGNATURE PAGE FOLLOWS]*

**IN WITNESS WHEREOF**, the parties hereto have caused this Board of Directors Agreement to be executed as of the date first written above.

---

| | |
|:---|:---|
| **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
| By: |  |
|  | Brian Podolak |
|  | Chief Executive Officer |
| **DIRECTOR:** | **DIRECTOR:** |
| Name: | Lourdes Felix |

---

**<u>EXHIBIT A</u>**

**<u>DESCRIPTION OF SERVICES</u>**

<u>Responsibilities as Director</u>. Director shall have all responsibilities of a Director of the Company imposed by Wyoming or applicable law, the Articles of Incorporation, as amended, and Bylaws of the Company. These responsibilities shall include, but shall not be limited to, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Attendance</u>. Use best efforts to attend scheduled meetings of Company's Board of Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Act as a Fiduciar</u> y. Represent the shareholders and the interests
of Company as a fiduciary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Participation</u>. Participate as a full voting member of Company's Board of Directors in setting
overall objectives, approving plans and programs of operation, formulating general policies, offering advice and counsel, serving on Board
Committees, and reviewing management performance.

**<u>EXHIBIT B</u>**

**VOCODIA HOLDINGS CORP**

**DIRECTOR PROPRIETARY INFORMATION AGREEMENT**

This **DIRECTOR PROPRIETARY INFORMATION AGREEMENT** (the **"Agreement"**) is made effective as of as of the date of that certain Director Agreement (as defined herein), by and between Vocodia Holdings Corp, a Wyoming corporation (the **"Company"**), and the undersigned signatory (the **"Director"**).

**WHEREAS**, the Director has agreed to serve on the Board of Directors of the Company (the **"Board"**) pursuant to that certain Board of Directors Agreement between the Company and Director (the "**Director Agreement**");

**WHEREAS**, the parties desire to assure the confidential status of the information which may be disclosed by the Company to the Director in connection with the Director serving on the Board; and

**NOW THEREFORE**, in reliance upon and in consideration of the following undertaking, the parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. Subject to the limitations set forth in <u>Section 2</u>, all information disclosed by the Company
to the Director shall be deemed to be **"Proprietary Information."** In particular, Proprietary Information shall be deemed
to include any information, process, technique, algorithm, program, design, drawing, formula or test data relating to any research project,
work in process, future development, engineering, manufacturing, marketing, servicing, financing or personnel matter relating to the Company,
any of its affiliates or subsidiaries, present or future products, sales, suppliers, customers, employees, investors, or business of the
Company or any of its affiliates or subsidiaries, whether oral, written, graphic or electronic form.

&nbsp;&nbsp;&nbsp;&nbsp;2. The term **"Proprietary Information"** shall not be deemed to include the following information:
(i) information which is now, or hereafter becomes, through no breach of this Agreement on the part of the Director, generally known or
available to the public; (ii) is known by the Director at the time of receiving such information; (iii) is hereafter furnished to the
Director by a third party, as a matter of right and without restriction on disclosure; or (iv) is the subject of a written permission
to disclose provided by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;3. The Director shall maintain in trust and confidence and not disclose to any third party or use for any
unauthorized purpose any Proprietary Information received from the Company. The Director may use such Proprietary Information only to
the extent required to accomplish the purposes of his position at the Company. The Director shall not use Proprietary Information for
any purpose or in any manner which would constitute a violation of any laws or regulations, including without limitation the export control
laws of the United States. No other rights of licenses to trademarks, inventions, copyrights, or patents are implied or granted under
this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;4. Proprietary Information supplied shall not be reproduced in any form except as required to accomplish
the intent of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;5. The Director represents, warrants and covenants that he shall protect the Proprietary Information received
with at least the same degree of care used to protect his or her own Proprietary Information from unauthorized use or disclosure.

&nbsp;&nbsp;&nbsp;&nbsp;6. All Proprietary Information (including all copies thereof) shall remain in the property of the Company,
and shall be returned to the Company (or destroyed) after the Director's need for it has expired, or upon request of the Company, and
in any event, upon the expiration or termination of Director Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;7. Notwithstanding any other provision of this Agreement, disclosure of Proprietary Information shall not
be precluded if such disclosure:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. is in response to a valid order, including a subpoena, of a court or other governmental body of the United
States or any political subdivision thereof; provided, however, that to the extent reasonably feasible, the Director shall first have
given the Company notice of the Director's receipt of such order and the Company shall have had an opportunity to obtain a protective
order requiring that the Proprietary Information so disclosed be used only for the purpose for which the order was issued;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. is otherwise required by law; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. is otherwise necessary to establish rights or enforce obligations under this Agreement, but only to the
extent that any such disclosure is necessary.

&nbsp;&nbsp;&nbsp;&nbsp;8. This Agreement shall continue in full force and effect during the term of the Director Agreement. This
Agreement may be terminated at any time thereafter upon thirty (30) days written notice to the other party. The termination of this Agreement
shall not relieve the Director of the obligations imposed by Paragraphs 3, 4, 5 and 11 of this Agreement with respect to Proprietary
information disclosed prior to the effective date of such termination and the provisions of these Paragraphs shall survive the termination
of this Agreement indefinitely with respect to Proprietary Information that constitutes **"trade secrets"** and for a period
of eighteen (18) months from the date of such termination with respect to other Proprietary Information.

&nbsp;&nbsp;&nbsp;&nbsp;9. This Agreement shall be governed by the laws of the State of Wyoming as those laws are applied to contracts
entered into and to be performed entirely in Wyoming.

&nbsp;&nbsp;&nbsp;&nbsp;10. This Agreement contains the final, complete and exclusive agreement of the parties relative to the subject
matter hereof and may not be changed, modified, amended or supplemented except by a written instrument signed by both parties.

&nbsp;&nbsp;&nbsp;&nbsp;11. Each party hereby acknowledges and agrees that in the event of any breach of this Agreement by the Director,
including, without limitation, an actual or threatened disclosure of Proprietary Information without the prior express written consent
of the Company, the Company will suffer an irreparable injury, such that no remedy at law will afford it adequate protection against,
or appropriate compensation for, such injury. Accordingly, each party hereby agrees that the Company shall be entitled to specific performance
of the Director's obligations under this Agreement, as well as such further injunctive relief as may be granted by a court of competent
jurisdiction.

[*SIGNATURE PAGE FOLLOWS*]

**IN WITNESS WHEREOF**, the parties hereto have executed this Director Proprietary Information Agreement on and as of the day and year first above written.

---

| | |
|:---|:---|
| **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
| By: |  |
|  | Brian Podolak |
|  | Chief Executive Officer |
| **DIRECTOR:** | **DIRECTOR:** |
| Name: | Lourdes Felix |

---

**<u>EXHIBIT C</u>**

**VOCODIA HOLDINGS CORP**

**INDEMNIFICATION AGREEMENT**

This **INDEMNIFICATION AGREEMENT** is made effective as of _______________, 2023 (this "**Agreement**"), by and between Vocodia Holdings Corp, a Wyoming corporation (the **"Company"**) and the undersigned signatory (**"Indemnitee"**).

**RECITALS**

&nbsp;&nbsp;&nbsp;&nbsp;A. The Company and Indemnitee recognize the continued difficulty in obtaining liability insurance for its
directors, officers, employees, stockholders, controlling persons, agents and fiduciaries, the significant increases in the cost of such
insurance and the general reductions in the coverage of such insurance.

&nbsp;&nbsp;&nbsp;&nbsp;B. the Company and Indemnitee further recognize the substantial increase in corporate litigation in general,
which subjects directors, officers, employees, controlling persons, stockholders, agents and fiduciaries to expensive litigation risks
at the same time as the availability and coverage of liability insurance has been severely limited.

&nbsp;&nbsp;&nbsp;&nbsp;C. Indemnitee does not regard the current protection available as adequate under the present circumstances,
and Indemnitee and other directors, officers, employees, stockholders, controlling persons, agents and fiduciaries of the Company may
not be willing to serve in such capacities without additional protection.

&nbsp;&nbsp;&nbsp;&nbsp;D. The Company (i) desires to attract and retain highly qualified individuals and entities, such as Indemnitee,
to serve the Company and, in part, in order to induce Indemnitee to be involved with the Company and (ii) wishes to provide for the indemnification
and advancing of expenses to Indemnitee to the maximum extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;E. This Agreement forms part of the consideration for Indemnitee to serve, or to continue to serve, as an
officer or director of the Company, and allows Indemnitee to fulfill his or her fiduciary duties under law and take on actions for or
on behalf of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;F. In view of the considerations set forth above, the Company desires that Indemnitee be indemnified by the
Company as set forth herein.

**NOW, THEREFORE**, in consideration of the premises and the covenants contained herein, the Company and Indemnitee hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Indemnification of Expenses</u>. The Company shall indemnify and hold harmless Indemnitee (including
its respective directors, officers, partners, former partners, members, former members, employees, agents and spouse, as applicable) and
each person who controls any of them or who may be liable within the meaning of Section 15 of the Securities Act of 1933, as amended
(the **"Securities Act"**), or Section 20 of the Securities Exchange Act of 1934, as amended (the **"Exchange Act"**), to the fullest extent permitted by law if Indemnitee was or is or becomes a party to or witness or other participant
in, or is threatened to be made a party to or witness or other participant in, any threatened, pending or completed action, suit, proceeding
or alternative dispute resolution mechanism, or any hearing, inquiry or investigation that Indemnitee believes might lead to the institution
of any such action, suit, proceeding or alternative dispute resolution mechanism, whether civil, criminal, administrative, investigative
or other (hereinafter a **"Claim"**) by reason of (or arising in part or in whole out of) any event or occurrence related
to the fact that Indemnitee is or was or may be deemed a director, officer, stockholder, employee, controlling person, agent or fiduciary
of the Company, or any subsidiary of the Company, or is or was or may be deemed to be serving at the request of the Company as a director,
officer, stockholder, employee, controlling person, agent or fiduciary of another corporation, partnership, limited liability company,
joint venture, trust or other enterprise, or by reason of any action or inaction on the part of Indemnitee while serving in such capacity
including, without limitation, any and all losses, claims, damages, expenses and liabilities, joint or several (including any investigation,
legal and other expenses incurred in connection with, and any amount paid in settlement of, any action, suit, proceeding or any claim
asserted) under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise
or which relate directly or indirectly to the registration, purchase, sale or ownership of any securities of the Company or to any fiduciary
obligation owed with respect thereto or as a direct or indirect result of any Claim made by any stockholder of the Company against Indemnitee
and arising out of or related to any round of financing of the Company (including but not limited to Claims regarding non-participation,
or non-pro rata participation, in such round by such stockholder), or made by a third party against Indemnitee based on any misstatement
or omission of a material fact by the Company in violation of any duty of disclosure imposed on the Company by federal or state securities
or common laws (hereinafter an **"Indemnification Event"**) against any and all expenses (including attorneys' fees
and all other costs, expenses and obligations incurred in connection with investigating, defending a witness in or participating in (including
on appeal), or preparing to defend, be a witness in or participate in, any such action, suit, proceeding, alternative dispute resolution
mechanism, hearing, inquiry or investigation), judgments, fines, penalties and amounts paid in settlement (if, and only if, such settlement
is approved in advance by the Company, which approval shall not be unreasonably withheld) of such Claim and any federal, state, local
or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement (collectively,
hereinafter **"Expenses"**), including all interest, assessments and other charges paid or payable in connection with or
in respect of such Expenses. Such payment of Expenses shall be made by the Company as soon as practicable but in any event no later than
ten (10) days after written demand by Indemnitee therefor is presented to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Reviewing Party</u>. Notwithstanding the foregoing, (i) the obligations of the Company under <u>Section 1(a)</u> shall be subject to the condition that the Reviewing Party (as described in <u>Section 10(e)</u> hereof) shall not have determined
(in a written opinion, in any case in which the Independent Legal Counsel referred to in <u>Section 1(e)</u> hereof is involved)
that Indemnitee would not be permitted to be indemnified under applicable law, and (ii) Indemnitee acknowledges and agrees that the obligation
of the Company to make an advance payment of Expenses to Indemnitee pursuant to <u>Section 2(a)</u> (an **"Expense Advance"**)
shall be subject to the condition that, if, when and to the extent that the Reviewing Party determines that Indemnitee would not be permitted
to be so indemnified under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse
the Company) for all such amounts theretofore paid; provided, however, that if Indemnitee has commenced or thereafter commences legal
proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law,
any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not
be binding and Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final judicial determination
is made with respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed). Indemnitee's obligation
to reimburse the Company for any Expense Advance shall be unsecured and no interest shall be charged thereon. If there has not been a
Change in Control (as defined in <u>Section 10(c)</u> hereof), the Reviewing Party shall be selected by the Company's Board
of Directors (the **"Board"**), and if there has been such a Change in Control (other than a Change in Control which has
been approved by a majority of the Board who were directors immediately prior to such Change in Control), the Reviewing Party shall be
the Independent Legal Counsel referred to in <u>Section 1(e)</u> hereof. If there has been no determination by the Reviewing Party
or if the Reviewing Party determines that Indemnitee substantively would not be permitted to be indemnified in whole or in part under
applicable law, Indemnitee shall have the right to commence litigation seeking an initial determination by the court or challenging any
such determination by the Reviewing Party or any aspect thereof, including the legal or factual bases therefor, and the Company hereby
consents to service of process and to appear in any such proceeding. Any determination by the Reviewing Party otherwise shall be conclusive
and binding on the Company and Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Contribution</u>. If the indemnification provided for in <u>Section 1(a)</u> above for any reason
is determined by the Reviewing Party or held by a court of competent jurisdiction to be unavailable to Indemnitee in respect of any losses,
claims, damages, expenses or liabilities referred to therein, then the Company, in lieu of indemnifying Indemnitee thereunder, shall,
to the fullest extent permissible under applicable law, contribute to the amount paid or payable by Indemnitee as a result of such losses,
claims, damages, expenses or liabilities in such proportion as is appropriate to reflect the relative benefits received by the Company
and Indemnitee and the relative fault of the Company and Indemnitee in connection with the action or inaction which resulted in such losses,
claims, damages, expenses or liabilities, as well as any other relevant equitable considerations. In connection with losses, claims, damages,
expenses or liabilities resulting from the registration of the Company's securities, the relative benefits received by the Company
and Indemnitee shall be deemed to be in the same respective proportions that the net proceeds from the offering (before deducting expenses)
received by them, in each case as set forth in the table on the cover page of the applicable prospectus, bear to the aggregate public
offering price of the securities so offered. The relative fault of the Company and Indemnitee shall be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material
fact relates to information supplied by the Company or Indemnitee and the parties' relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission.

The Company and Indemnitee agree that it would not be just and equitable if contribution pursuant to this <u>Section 1(c)</u> were determined by pro rata or per capita allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. In connection with losses, claims, damages, expenses or liabilities resulting from the registration of the Company's securities, in no event shall Indemnitee be required to contribute any amount under this <u>Section 1(c)</u> in excess of the lesser of (i) that proportion of the total of such losses, claims, damages or liabilities indemnified against equal to Indemnitee's proportion of the total securities being offered under such registration statement or (ii) the proceeds received by Indemnitee from its securities sold under the registration statement. Notwithstanding this <u>Section 1(c)</u>, no person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not found guilty of such fraudulent misrepresentation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Survival Regardless of Investigation</u>. The indemnification and contribution provided for in this <u>Section 1</u> will remain in full force and effect regardless of any investigation made by or on behalf of Indemnitee or any officer,
director, employee, agent or controlling person of Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Change in Control</u>. The Company agrees that if there is a Change in Control of the Company (other
than a Change in Control which has been approved by a majority of the Board who were directors immediately prior to such Change in Control)
then, with respect to all matters thereafter arising concerning the rights of Indemnitee to payments of Expenses under this Agreement
or any other agreement or under the Company's Certificate of Incorporation, as amended (the **"Certificate"**) or
Bylaws, as amended, as now or hereafter in effect, Independent Legal Counsel (as defined in <u>Section 10(d)</u> hereof) shall be
selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld). Such counsel, among other things,
shall render its written opinion to the Company and Indemnitee as to whether and to what extent Indemnitee would be permitted to be indemnified
under applicable law. The Company agrees to abide by such opinion and to pay the reasonable fees of the Independent Legal Counsel referred
to above and to fully indemnify such counsel against any and all expenses (including attorneys' fees), claims, liabilities and damages
arising out of or relating to this Agreement or its engagement pursuant hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Mandatory Payment of Expenses</u>. Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee has been successful on the merits or otherwise, including, without limitation, the dismissal of an action without prejudice,
in the defense of any action, suit, proceeding, inquiry or investigation referred to in <u>Section 1(a)</u> hereof or in the defense
of any claim, issue or matter therein, Indemnitee shall be indemnified against all Expenses incurred by Indemnitee in connection herewith.

&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Expenses ; Indemnification Procedure.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Advancement of Expenses</u>. Subject to <u>Section 1(b)</u> hereof, the Company shall advance
all Expenses incurred by Indemnitee. The advances to be made hereunder shall be paid by the Company to Indemnitee as soon as practicable
but in any event no later than fifteen (15) days after written demand by Indemnitee therefor to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Notice/Cooperation by Indemnitee</u>. Indemnitee shall give the Company written notice as soon as practicable
of any Claim made against Indemnitee for which indemnification will or could be sought under this Agreement; provided, however, that any
failure or delay in giving such notice shall not relieve the Company of its obligations under this Agreement unless and to the extent
that (i) the Company is not aware of such Claim and (ii) the Company is materially prejudiced by such failure or delay. The written notice
to the Company shall include a description of the nature of and the facts underlying the Claim and be directed to the Chief Executive
Officer of the Company at the address shown on the signature page of this Agreement (or such other address as the Company shall designate
in writing to Indemnitee).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>No Presumptions; Burden of Proof</u>. For purposes of this Agreement, the termination of any Claim
by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere, or its equivalent,
shall not create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a
court has determined that indemnification is not permitted by applicable law. In addition, neither the failure of the Reviewing Party
to have made a determination as to whether Indemnitee has met any particular standard of conduct or had any particular belief, nor an
actual determination by the Reviewing Party that Indemnitee has not met such standard of conduct or did not have such belief, prior to
the commencement of legal proceedings by Indemnitee to secure a judicial determination that Indemnitee should be indemnified under applicable
law, shall be a defense to Indemnitee's claim or create a presumption that Indemnitee has not met any particular standard of conduct
or did not have any particular belief. In connection with any determination by the Reviewing Party or otherwise as to whether Indemnitee
is entitled to be indemnified hereunder, the burden of proof shall be on the Company to establish that Indemnitee is not so entitled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Notice to Insurers</u>. If, at the time of the receipt by the Company of a notice of a Claim pursuant
to <u>Section 2(b)</u> hereof, the Company has liability insurance in effect which may cover such Claim, the Company shall give prompt
written notice of the commencement of such Claim to the applicable insurers in accordance with the procedures set forth in each of the
policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee,
all amounts payable as a result of such action, suit, proceeding, inquiry or investigation in accordance with the terms of such policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Selection of Counsel</u>. In the event the Company is obligated hereunder to pay the Expenses of any
Claim, the Company shall be entitled to participate in the proceeding and assume the control of the defense of such Claim, with counsel
reasonably approved by Indemnitee (such approval shall not be unreasonably withheld, delayed or conditioned), upon the delivery to Indemnitee
of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of
such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred
by Indemnitee with respect to the same Claim; provided that, (i) Indemnitee shall have the right to employ Indemnitee's counsel
in any such Claim at Indemnitee's sole expense; (ii) Indemnitee shall have the right to employ Indemnitee's own counsel in
connection with such proceeding, at the expense of the Company, if such counsel serves in a review, observer, advice and counseling capacity
and does not otherwise materially control or participate in the defense of such Claim; and (iii) if the Company and Indemnitee have mutually
concluded that there is a conflict of interest between them in the conduct of the defense of such Claim, then Indemnitee is entitled to
retain its own counsel and the reasonable fees and expenses of Indemnitee's counsel reasonably approved by the Company (such approval
shall not be unreasonably withheld, delayed or conditioned) shall be at the expense of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Additional Indemnification Rights; Non-Exclusivity.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Scope</u>. The Company hereby agrees to indemnify Indemnitee for the Expenses of any Claim to the fullest
extent permitted by law, even if indemnification is not specifically authorized by the other provisions of this Agreement or any other
agreement, the Company's Certificate and Bylaws or by statute. In the event of any change after the date of this Agreement in any
applicable law, statute or rule which expands the right of a Wyoming corporation to indemnify a member of its board of directors or an
officer, employee, agent or fiduciary, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater
benefits afforded by such change. In the event of any change in any applicable law, statute or rule which narrows the right of a Wyoming
corporation to indemnify a member of its board of directors or an officer, employee, agent or fiduciary, such change, to the extent not
otherwise required by such law, statute or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties'
rights and obligations hereunder except as set forth in <u>Section 8(a)</u> hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Non-Exclusivity</u>. Notwithstanding anything in this Agreement, the indemnification provided by this
Agreement shall be in addition to any rights to which Indemnitee may be entitled under the Company's Certificate or Bylaws, any
agreement, any vote of stockholders or disinterested directors, the laws of the State of Wyoming, or otherwise. Notwithstanding anything
in this Agreement, the indemnification provided under this Agreement shall continue as to Indemnitee for any action Indemnitee took or
did not take while serving in an indemnified capacity even though Indemnitee may have ceased to serve in such capacity and indemnification
shall inure to the benefit of Indemnitee from and after Indemnitee's first day of service as a director with the Company or affiliation
with a director from and after the date such director commences services as a director with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>No Duplication of Payments</u>. Notwithstanding anything herein to the contrary, the Company shall
not be liable under this Agreement to make any payment in connection with any Claim made against Indemnitee to the extent Indemnitee has
otherwise actually received payment (under any insurance policy, any other agreement, the Company's Certificate and Bylaws or otherwise)
of the amounts otherwise indemnifiable hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Partial Indemnification</u>. If Indemnitee is entitled under any provision of this Agreement to indemnification
by the Company for any portion of Expenses incurred in connection with any Claim, but not, however, for all of the total amount thereof,
the Company shall nevertheless indemnify Indemnitee for the portion of such Expenses to which Indemnitee is entitled thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Mutual Acknowledgement</u>. The Company and Indemnitee acknowledge that in certain instances, applicable
law or public policy may prohibit the Company from indemnifying its directors, officers, employees, controlling persons, agents or fiduciaries
under this Agreement or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Liability Insurance</u>. During any period of time Indemnitee is entitled to indemnification rights
under this Agreement, the Company shall maintain liability insurance applicable to directors, officers, employees, control persons, agents
or fiduciaries, Indemnitee shall be covered by such policies in such a manner as to provide Indemnitee the same rights and benefits as
are accorded to the most favorably insured of the Company's directors, if Indemnitee is a director, or of the Company's officers,
if Indemnitee is not a director of the Company but is an officer; or of the Company's key employees, controlling persons, agents
or fiduciaries, if Indemnitee is not an officer or director but is a key employee, agent, control person, or fiduciary. Said liability
insurance shall provide coverage amounts of no less than $1 million and shall be held with an insurance carrier which the Board believes
is of financially sound condition. Further, the Company shall at all times maintain a cash reserve of $2 million as a self-insurance fund
to backstop any indemnification obligations pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Exceptions</u>. Any other provision herein to the contrary notwithstanding,
the Company shall not be obligated pursuant to the terms of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Claims Under Section 16(b)</u>. To indemnify Indemnitee for Expenses arising from or in connection
with any Claims for which a final decision by a court having jurisdiction in the matter determines that Indemnitee sold or purchased the
Company's securities in violation of Section 16(b) of the Exchange Act or any similar successor statute;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Compensation Recovery Claims</u>. To indemnify Indemnitee for Expenses arising from or in connection
with any Claims for any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation
or of any profits realized by Indemnitee from the sale of securities of the Company, as required under the Exchange Act (including any
such reimbursements that rise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of
2002, as amended (the **"Sarbanes-Oxley Act"**), or the payment to the Company of profits arising from the purchase and
sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Indemnitee Claims</u>. To indemnify Indemnitee for Expenses arising from or in connection with any
Claims initiated or brought voluntarily by Indemnitee not by way of defense, except with respect to Claims brought to establish or enforce
a right to indemnification under this Agreement, the Company's Certificate and Bylaws or any applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Unlawful Indemnification</u>. To indemnify Indemnitee for Expenses arising from or in connection with
any Claims for which a final decision by a court having jurisdiction in the matter determines that such indemnification is not lawful;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Fraud</u>. To indemnify Indemnitee for Expenses arising from or in connection with any Claims for which
a final decision by a court having jurisdiction in the matter determines that Indemnitee has committed fraud on the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Insurance</u>. To indemnify Indemnitee for which payment is actually and fully made to Indemnitee under
a valid and collectible insurance policy.

&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Period of Limitations</u>. No legal action shall be brought and no
cause of action shall be asserted by or in the right of the Company against Indemnitee or Indemnitee's estate, spouse, heirs, executors
or personal or legal representatives after the expiration of five (5) years from the date of accrual of such cause of action, and any
claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action
within such five (5) year period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause
of action, such shorter period shall govern.

&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Construction of Certain Phrases.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. For purposes of this Agreement, references to the **"Company"** shall include, in addition
to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or
merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, employees,
agents or fiduciaries, so that if Indemnitee is or was or may be deemed a director, officer, employee, agent, control person, or fiduciary
of such constituent corporation, or is or was or may be deemed to be serving at the request of such constituent corporation as a director,
officer, employee, control person, agent or fiduciary of another corporation, partnership, joint venture, employee benefit plan, trust
or other enterprise, Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting
or surviving corporation as Indemnitee would have with respect to such constituent corporation if its separate existence had continued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. For purposes of this Agreement, references to **"other enterprise"** shall include any
employee benefit plan of the Company; references to **"fines"** shall include any excise taxes assessed on Indemnitee with
respect to an employee benefit plan; and references to **"serving at the request of the Company"** shall include any service
as a director, officer, employee, agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer,
employee, agent or fiduciary with respect to an employee benefit plan of the Company, its participants or its beneficiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. For purposes of this Agreement a **"Change in Control"** shall be deemed to have occurred
if (i) any **"person"** (as such term is used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act), other than a
trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned directly or indirectly
by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, (A) who is or becomes
the beneficial owner, directly or indirectly, of securities of the Company representing 20% or more of the combined voting power of the
Company's then outstanding Voting Securities, increases beneficial ownership of such securities by 5% or more, or (B) becomes the **"beneficial owner"** (as defined in Rule 13d-3 under said Exchange Act), directly or indirectly, of securities of the
Company representing more than 30% of the total voting power represented by the Company's then outstanding Voting Securities, (ii)
during any period of two consecutive years, individuals who at the beginning of such period constitute the Board and any new director
whose election by the Board or nomination for election by the Company's stockholders was approved by a vote of at least two-thirds
(2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for
election was previously so approved, cease for any reason to constitute a majority thereof, or (iii) the stockholders of the Company approve
a merger or consolidation of the Company with any other corporation other than a merger or consolidation which would result in the Voting
Securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted
into Voting Securities of the surviving entity) at least two-thirds (2/3) of the total voting power represented by the Voting Securities
of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company
approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of (in one transaction
or a series of transactions) all or substantially all of the Company's assets. **"Voting Securities"** shall mean
any securities of the Company that vote generally in the election of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. For purposes of this Agreement, **"Independent Legal Counsel"** shall mean an attorney
or firm of attorneys, selected in accordance with the provisions of <u>Section 1(e)</u> hereof, who shall not have otherwise performed
services for the Company or Indemnitee within the last three (3) years (other than with respect to matters concerning the right of Indemnitee
under this Agreement, or of other indemnitees under similar indemnity agreements).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. For purposes of this Agreement, a **"Reviewing Party"** shall mean any appropriate person
or body consisting of a member or members of the Board or any other person or body appointed by the Board, who is not a party to the particular
Claim for which Indemnitee is seeking indemnification, such as a committee of the Board or Independent Legal Counsel.

&nbsp;&nbsp;&nbsp;&nbsp;**3.**  **<u>Counterparts</u>** . This Agreement may be executed in one or more counterparts, each of which
shall constitute an original.

&nbsp;&nbsp;&nbsp;&nbsp;**4.**  **<u>Binding Effect; Successors and Assigns</u>** . This Agreement shall be binding upon and inure to
the benefit of and be enforceable by the parties hereto and their respective successors, assigns, including any direct or indirect successor
by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs,
and personal and legal representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger,
consolidation or otherwise) to all, substantially all, or a substantial part, of the business and/or assets of the Company, by written
agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner
and to the same extent that the Company would be required to perform if no such succession had taken place. This Agreement shall continue
in effect with respect to Claims relating to Indemnifiable Events regardless of whether Indemnitee continues to serve as a director, officer,
employee, agent, controlling person, or fiduciary of the Company or of any other enterprise, including subsidiaries of the Company, at
the Company's request.

&nbsp;&nbsp;&nbsp;&nbsp;**5.**  **<u>Attorneys' Fees</u>** . In the event that any action is instituted by Indemnitee under this
Agreement or under any liability insurance policies maintained by the Company to enforce or interpret any of the terms hereof or thereof,
Indemnitee shall be entitled to be paid all Expenses incurred by Indemnitee with respect to such action if Indemnitee is ultimately successful
in such action. In the event of an action instituted by or in the name of the Company under this Agreement to enforce or interpret any
of the terms of this Agreement, Indemnitee shall be entitled to be paid Expenses incurred by Indemnitee in the defense of such action
(including costs and expenses incurred with respect to Indemnitee counterclaims and cross-claims made in such action), and shall be entitled
to the advancement of Expenses with respect to such action, in each case only to the extent that Indemnitee is ultimately successful in
such action.

&nbsp;&nbsp;&nbsp;&nbsp;**6.**  **<u>Notice</u>** . All notices and other communications required or permitted hereunder shall be in
writing, shall be effective when given, and shall in any event be deemed to be given (a) five (5) days after deposit with the U.S. Postal
Service or other applicable postal service, if delivered by first class mail, postage prepaid, (b) upon delivery, if delivered by hand,
(c) one business day after the business day of deposit with Federal Express or similar overnight courier, freight prepaid, or (d) one
day after the business day of delivery by facsimile transmission, if deliverable by facsimile transmission, with copy by first class mail,
postage prepaid, and shall be addressed if to Indemnitee, at Indemnitee's address as set forth beneath the Indemnitee's signature
to this Agreement and if to the Company at the address of its principal corporate offices (attention: Secretary) or at such other address
as such party may designate by ten (10) days' advance written notice to the other party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;**7.**  **<u>Severability</u>** . The provisions of this Agreement shall be severable in the event that any
of the provisions hereof (including any provision within a single section, paragraph or sentence) are held by a court of competent
jurisdiction to be invalid, void or otherwise unenforceable, and the remaining provisions hereof shall remain enforceable to the fullest
extent permitted by law. Furthermore, to the fullest extent possible, this Agreement (including, without limitations, each portion of
this Agreement containing any provision held to be invalid, void or otherwise unenforceable, that is not itself invalid, void or unenforceable)
shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

&nbsp;&nbsp;&nbsp;&nbsp;**8.**  **<u>Resolution of Dispute</u>** . This Agreement shall be governed by and its provisions construed
and enforced in accordance with the laws of the State of Wyoming, without regard to the conflict of laws principles thereof. To the fullest
extent permitted by law, and unless the Company consents in writing to the selection of an alternative forum, the Courts of the State
of Wyoming shall be the sole and exclusive forum for all purposes in connection with any dispute regarding, arising out of or relating
to this Agreement (including without limitation its validity, interpretation, performance, enforcement, termination and damages).

&nbsp;&nbsp;&nbsp;&nbsp;**9.**  **<u>Subrogation</u>** . In the event of payment under this Agreement, the Company shall be subrogated
to the extent of such payment to all of the rights of recovery of Indemnitee who shall execute all documents required and shall do all
acts that may be necessary to secure such rights and to enable the Company effectively to bring suit to enforce such rights.

&nbsp;&nbsp;&nbsp;&nbsp;**10.**  **<u>Amendment and Termination</u>** . No amendment, modification, termination or cancellation of this
Agreement shall be effective unless it is in writing signed by the parties to be bound thereby. Notice of same shall be provided to all
parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions
hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

&nbsp;&nbsp;&nbsp;&nbsp;**11.**  **<u>Corporate Authority</u>** . The Board has approved the terms of this Agreement.

**IN WITNESS WHEREOF**, the parties hereto have executed this Indemnification Agreement on and as of the day and year first above written.

---

| | |
|:---|:---|
| **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
| By: |  |
|  | Brian Podolak |
|  | Chief Executive Officer |
| **INDEMNITTEE:** | **INDEMNITTEE:** |
| Name: | Lourdes Felix |

---

## Exhibit 10.5

**Exhibit 10.5**

**FORM OF VOCODIA HOLDINGS CORP**

**BOARD OF DIRECTORS AGREEMENT**

This **BOARD OF DIRECTORS AGREEMENT** (**"Agreement"**) dated as of January [\*], 2023, by and between Vocodia Holdings Corp, a Wyoming corporation (the **"Company"**), and the undersigned signatory (the **"Director"**), provides for director services, according to the following terms and conditions:

&nbsp;&nbsp;&nbsp;&nbsp;I. <u>Position and Responsibilities</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Position</u>. As of the Effective Date, the Board of Directors hereby appoints
the Director to serve as a Board member until the next annual meeting of the Company's shareholders or until his earlier resignation,
removal or death. The Director shall perform such duties and responsibilities as are customarily related to such position in accordance
with Company's bylaws and applicable law, including, but not limited to, those services described on **Exhibit A** attached hereto
(the "Services"). Director hereby agrees to use his best efforts to provide the Services. Director shall not allow any other
person or entity to perform any of the Services for or instead of Director. Director shall comply with the statutes, rules, regulations
and orders of any governmental or quasi-governmental authority, which are applicable to the Company and the performance of the Services,
and Company's rules, regulations, and practices as they may from time-to-time be adopted or modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Other Activities</u>. Director may be employed by another company, may serve
on other Boards of Directors or Advisory Boards, and may engage in any other business activity (whether or not pursued for pecuniary advantage),
as long as such outside activities do not violate Director's obligations under this Agreement or Director's fiduciary obligations
to the Company's shareholders. The ownership of less than a 5% interest in an entity, by itself, shall not constitute a violation
of this duty. Director represents that Director has no outstanding agreement or obligation that is in conflict with any of the provisions
of this Agreement, and Director agrees to use his best efforts to avoid or minimize any such conflict and agrees not to enter into any
agreement or obligation that could create such a conflict without the approval of a majority of the Board of Directors. If, at any time,
Director is required to make any disclosure or take any action that may conflict with any of the provisions of this Agreement, Director
will promptly notify the Board of such obligation, prior to making such disclosure or taking such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Conflict</u>. Director will not engage in any activity that creates an actual
or perceived conflict of interest with Company, regardless of whether such activity is prohibited by Company's conflict of interest
guidelines or this Agreement, and Director agrees to notify the Board of Directors before engaging in any activity that could reasonably
be assumed to create a potential conflict of interest with Company. Notwithstanding the provisions of <u>Section 1(b)</u> hereof, Director
shall not engage in any activity that is in direct competition with the Company or serve in any capacity (including, but not limited to,
as an employee, consultant, advisor or director) in any company or entity that competes directly or indirectly with the Company, as reasonably
determined by a majority of Company's disinterested board members, without the approval of the Board of Directors.

The Director agrees, subject to the Director's continued status as a director, to serve on the Company's Board of Directors (the **"Board"**) and to provide those services required of a director under the Company's amended and restated certificate of incorporation and bylaws, as both may be amended from time to time (**"Charter Documents"**) and under the federal securities laws and other state and federal laws and regulations, as applicable, and the rules and regulations of the U.S. Securities and Exchange Commission (the **"SEC"**) and any stock exchange or quotation system on which the Company's securities may be traded from time to time. Director will also serve on such one or more committees of the Board as he or she and the Board shall mutually agree.

&nbsp;&nbsp;&nbsp;&nbsp;II. <u>Nature of Relationship</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Director is an independent contractor and will not be deemed as an employee of the Company for any
purposes by virtue of this Agreement. The Director shall be solely responsible for the payment or withholding of all federal, state, or
local income taxes, social security taxes, unemployment taxes, and any and all other taxes relating to the compensation he or she earns
under this Agreement. The Director shall not, in his or her capacity as a director of the Company, enter into any agreement or incur any
obligations on the Company's behalf, without appropriate Board action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Company will supply, at no cost to the Director: periodic briefings on the business, director packages
for each board and committee meeting, copies of minutes of meetings and any other materials that are required under the Company's
Charter Documents or the charter of any committee of the Board on which the Director serves and any other materials which may, by mutual
agreement, be necessary for performing the services requested under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;III. <u>Director's Representations and Warranties</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Director represents and warrants that no other party has exclusive rights to his services in the specific
areas in which the Company is conducting business and that the Director is in no way compromising any rights or trust between any other
party and the Director or creating a conflict of interest as a result of his or her participation on the Board. The Director also represents,
warrants and covenants that so long as the Director serves on the Board, the Director will not enter into another agreement that will
create a conflict of interest with this Agreement or the Company. The Director further represents, warrants and covenants that he or she
will comply with the Company's Articles, Bylaws, policies and guidelines, all applicable laws and regulations, including Sections 10
and 16 of the Securities Exchange Act of 1934, as amended, and listing rules of The Nasdaq Stock Market LLC or any other stock exchanges
on which the Company's securities may be traded; that if he or she is designated by the Board as an independent director, he or
she shall promptly notify the Board of any circumstances that may potentially impair his or her independence as a director of the Company;
and that he or she shall promptly notify the Board of any arrangements or agreements relating to compensation provided by a third party
to him or her in connection with his or her status as a director or director nominee of the Company or the services requested under this
Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Throughout the term of this Agreement, the Director agrees he or she will not, without obtaining the Company's
prior written consent, directly or indirectly engage or prepare to engage in any activity in competition with the Company's business,
products or services, including without limitation, products or services in the development stage, accept employment or provide services
to (including but not limited to service as a member of a board of directors), or establish a business in competition with the Company;
provided, however, that the Director may serve or continue to serve as an officer or director of one or more entities that are affiliated
with the Company, including without limitation, entities in which the Company does not have a majority holding.

&nbsp;&nbsp;&nbsp;&nbsp;IV. <u>Fees</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Cash Fee</u>. Subject to <u>Section VI</u> and during the term of this Agreement, the Company
shall pay the Director, if the Company does not otherwise compensate the Director as an officer or employee, a non-refundable base fee
of $30,000 per quarter ()"**Base Fee**") in consideration for the Director providing the services described in <u>Section I</u> which shall compensate him or her for all time spent preparing for, travelling to (if applicable) and attending Board or committee meetings.
In addition, the Company shall pay the Director a quarterly fee of an additional $3,000 in consideration for the Director's service
as compensation committee chair ()"**Chair Fee** "). These cash fees may be revised by action of the Board from time to time.
Such revision shall be effective as of the date specified in the resolution for payments not yet earned and need not be documented by
an amendment to this Agreement to be effective. In addition, if the non-employee Director serves as the chairperson of any standing committee
of the Board, he or she may be entitled to additional cash compensation as decided by the Board (or the compensation committee thereof)
in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Payment</u>. The Base Fee and the Chair Fee shall be paid quarterly at the beginning of each calendar
quarter. No invoices need be submitted by the Director for payment of the Base or Chair Fee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. <u>Equity Compensation</u>. For services as a member of the Board, on the Effective Date, Director shall
be granted an award of 150,000 shares of restricted stock units (the "  **<u>RSUs</u>** "). The RSUs shall vest with respect
to eight point three-three percent (8.33%) of the total number of RSUs (12,500) on the Effective Date and eight point three-three
percent (8.33%) thereafter every three (3) month anniversary of the Effective Date until fully vested on the third (3<sup>rd</sup>) anniversary
of the Effective Date, subject to Director's continuous service to the Company through the applicable vesting date. The RSUs shall
otherwise be subject to the terms of the 2022 Equity Stock Option Plan, which may be amended from time to time, pursuant to which they
are granted and/or an award agreement to be entered into between Director and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. <u>Expenses</u>. During the term of this Agreement, the Company will reimburse the Director for reasonable
business related expenses approved by the Company in advance, such approval not to be unreasonably withheld. Invoices for expenses, with
receipts attached, shall be submitted. Such invoices must be approved by the Company's Chief Executive Officer or Chief Financial
Officer as to form and completeness.

&nbsp;&nbsp;&nbsp;&nbsp;V. <u>Indemnification and Insurance</u> 

The Company will execute an indemnification agreement in favor of the Director substantially in the form of the agreement attached hereto as **Exhibit C** (the **"Indemnification Agreement"**). In addition, so long as the Company's indemnification obligations exist under the Indemnification Agreement, the Company shall provide the Director with directors' and officers' liability insurance coverage in the amounts specified in the Indemnification Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;VI. <u>Term of Agreement and Amendments</u> 

This Agreement shall commence from the date the Company's Form S-1 registration statement goes effective with the U.S. Securities and Exchange Commission (the "**Effective Date**") for the Company's proposed initial public offering of securities (the "**Public Offering**") under the Securities Act of 1933, as amended (the "**Securities Act**"), and shall continue for a period of one (1) year from the Effective Date and shall continue thereafter for as long as Director is elected as a member of the Board of Directors by the shareholders of the Company unless the Board determines not to renew this Agreement. Any amendment to this Agreement must be approved by the Board. Amendments to <u>Section IV.</u> **"Fees"** hereof do not require the Director's consent to be effective.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. This Agreement shall automatically terminate upon the death of the Director or upon his resignation or
removal from, or failure to win election or reelection to, the Board. In the event of expiration or termination of this Agreement, the
Director agrees to return or destroy any materials transferred to the Director under this Agreement except as may be necessary to fulfill
any outstanding obligations hereunder. The Director agrees that the Company has the right of injunctive relief to enforce this provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Company's and the Director's continuing obligations hereunder in the event of expiration
or termination of this Agreement shall be subject to the terms of <u>Section XIV</u> hereof.

&nbsp;&nbsp;&nbsp;&nbsp;VIII. <u>Limitation of Liability and Force Majeure</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Under no circumstances shall the Company be liable to the Director for any consequential damages claimed
by any other party as a result of representations made by the Director with respect to the Company which are materially different from
any to those made in writing by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Furthermore, except for the maintenance of confidentiality, neither party shall be liable to the other
for delay in any performance, or for failure to render any performance under this Agreement when such delay or failure is caused by Government
regulations (whether or not valid), fire, strike, differences with workmen, illness of employees, flood, accident, or any other cause
or causes beyond reasonable control of such delinquent party.

&nbsp;&nbsp;&nbsp;&nbsp;IX. <u>Confidentiality and Use of Director Information</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Director agrees to sign and abide by the Company's Director Proprietary Information Agreement
attached hereto as **Exhibit B** (the **"Proprietary Information Agreement"**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Director explicitly consents to the Company holding and processing both electronically and manually
the information that he or she provides to the Company or the data that the Company collects which relates to the Director for the purpose
of the administration, management and compliance purposes, including but not limited to the Company's disclosure of any and all
information provided by the Director in the Company's proxy statements, annual reports or other securities filings or reports pursuant
to federal or state securities laws or regulations, and the Director agrees to promptly notify the Company of any misstatement of a material
fact regarding the Director, and of the omission of any material fact necessary to make the statements contained in such documents regarding
the Director not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;X. <u>Dispute Resolution</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. *Jurisdiction and Venue*. The parties agree that any suit, action, or proceeding between Director
and Company (and its affiliates, shareholders, directors, officers, employees, members, agents, successors, attorneys, and assigns) relating
to this Agreement shall be brought in either the United States District Court for the State of Wyoming or in a Wyoming state court and
that the parties shall submit to the jurisdiction of such court. The parties irrevocably waive, to the fullest extent permitted by law,
any objection the party may have to the laying of venue for any such suit, action or proceeding brought in such court. If any one or more
provisions of this Section shall for any reason be held invalid or unenforceable, it is the specific intent of the parties that such provisions
shall be modified to the minimum extent necessary to make it or its application valid and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. *Attorneys' Fees*. Should any litigation, arbitration or other proceeding be commenced between
the parties concerning the rights or obligations of the parties under this Agreement, the party prevailing in such proceeding shall be
entitled, in addition to such other relief as may be granted, to a reasonable sum as and for its attorneys' fees in such proceeding.
This amount shall be determined by the court in such proceeding or in a separate action brought for that purpose. In addition to any amount
received as attorneys' fees, the prevailing party also shall be entitled to receive from the party held to be liable, an amount
equal to the attorneys' fees and costs incurred in enforcing any judgment against such party. This Section is severable from the
other provisions of this Agreement and survives any judgment and is not deemed merged into any judgment.

&nbsp;&nbsp;&nbsp;&nbsp;XI. <u>Entire Agreement</u> 

This Agreement (including agreements executed in substantially the form of the exhibits attached hereto) supersedes all prior or contemporaneous written or oral understandings or agreements, and, except as otherwise set forth herein, may not be added to, modified, or waived, in whole or in part, except by a writing signed by the party against whom such addition, modification or waiver is sought to be asserted.

&nbsp;&nbsp;&nbsp;&nbsp;XII. <u>Assignment</u> 

This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns and, except as otherwise expressly provided herein, neither this Agreement, nor any of the rights, interests or obligations hereunder shall be assigned by either of the parties hereto without the prior written consent of the other party.

&nbsp;&nbsp;&nbsp;&nbsp;XIII. <u>Notices</u> 

Any and all notices, requests and other communications required or permitted hereunder shall be in writing, registered mail or by facsimile, to each of the parties at the addresses provided. Any such notice shall be deemed given when received and notice given by registered mail shall be considered to have been given on the tenth (10th) day after having been sent in the manner provided for above.

&nbsp;&nbsp;&nbsp;&nbsp;XIV. <u>Survival of Obligations</u> 

Notwithstanding the expiration or termination of this Agreement, neither party hereto shall be released hereunder from any liability or obligation to the other which has already accrued as of the time of such expiration or termination (including, without limitation, the Director's obligations under the Proprietary Information Agreement, the Company's obligation to make any fees and expense payments required pursuant to <u>Section IV</u> due up to the date of the expiration or termination, and the Company's indemnification and insurance obligations set forth in <u>Section V</u> hereof) or which thereafter might accrue in respect of any act or omission of such party prior to such expiration or termination.

&nbsp;&nbsp;&nbsp;&nbsp;XV. <u>Attorneys' Fees</u> 

If any legal action or other proceeding is brought for the enforcement of this Agreement, or because of a dispute, breach or default in connection with any of the provisions hereof, the successful or substantially prevailing party (including a party successful or substantially prevailing in defense) shall be entitled to recover its actual attorneys' fees and other costs incurred in that action or proceeding, in addition to any other relief to which it may be entitled.

&nbsp;&nbsp;&nbsp;&nbsp;XVI. <u>Severability</u> 

Any provision of this Agreement which is determined to be invalid or unenforceable shall not affect the remainder of this Agreement, which shall remain in effect as though the invalid or unenforceable provision had not been included herein, unless the removal of the invalid or unenforceable provision would substantially defeat the intent, purpose or spirit of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;XVII. <u>Counterparts</u> 

This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one instrument. Execution and delivery of this Agreement by facsimile or other electronic signature is legal, valid and binding for all purposes.

[*SIGNATURE PAGE FOLLOWS]*

**IN WITNESS WHEREOF**, the parties hereto have caused this Board of Directors Agreement to be executed as of the date first written above.

---

| | |
|:---|:---|
| **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
| By: |  |
|  | Brian Podolak |
|  | Chief Executive Officer |
| **DIRECTOR:** | **DIRECTOR:** |
| Name: | Randall Miles |

---

**<u>EXHIBIT A</u>**

**<u>DESCRIPTION OF SERVICES</u>**

<u>Responsibilities as Director</u>. Director shall have all responsibilities of a Director of the Company imposed by Wyoming or applicable law, the Articles of Incorporation, as amended, and Bylaws of the Company. These responsibilities shall include, but shall not be limited to, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Attendance</u>. Use best efforts to attend scheduled meetings of Company's Board of Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Act as a Fiduciar</u> y. Represent the shareholders and the interests
of Company as a fiduciary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Participation</u>. Participate as a full voting member of Company's Board
of Directors in setting overall objectives, approving plans and programs of operation, formulating general policies, offering advice and
counsel, serving on Board Committees, and reviewing management performance.

**<u>EXHIBIT B</u>**

**VOCODIA HOLDINGS CORP**

**DIRECTOR PROPRIETARY INFORMATION AGREEMENT**

This **DIRECTOR PROPRIETARY INFORMATION AGREEMENT** (the **"Agreement"**) is made effective as of as of the date of that certain Director Agreement (as defined herein), by and between Vocodia Holdings Corp, a Wyoming corporation (the **"Company"**), and the undersigned signatory (the **"Director"**).

**WHEREAS**, the Director has agreed to serve on the Board of Directors of the Company (the **"Board"**) pursuant to that certain Board of Directors Agreement between the Company and Director (the "**Director Agreement**");

**WHEREAS**, the parties desire to assure the confidential status of the information which may be disclosed by the Company to the Director in connection with the Director serving on the Board; and

**NOW THEREFORE**, in reliance upon and in consideration of the following undertaking, the parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. Subject to the limitations set forth in <u>Section 2</u>, all information disclosed by the Company
to the Director shall be deemed to be **"Proprietary Information."** In particular, Proprietary Information shall be deemed
to include any information, process, technique, algorithm, program, design, drawing, formula or test data relating to any research project,
work in process, future development, engineering, manufacturing, marketing, servicing, financing or personnel matter relating to the Company,
any of its affiliates or subsidiaries, present or future products, sales, suppliers, customers, employees, investors, or business of the
Company or any of its affiliates or subsidiaries, whether oral, written, graphic or electronic form.

&nbsp;&nbsp;&nbsp;&nbsp;2. The term **"Proprietary Information"** shall not be deemed to include the following information:
(i) information which is now, or hereafter becomes, through no breach of this Agreement on the part of the Director, generally known or
available to the public; (ii) is known by the Director at the time of receiving such information; (iii) is hereafter furnished to the
Director by a third party, as a matter of right and without restriction on disclosure; or (iv) is the subject of a written permission
to disclose provided by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;3. The Director shall maintain in trust and confidence and not disclose to any third party or use for any
unauthorized purpose any Proprietary Information received from the Company. The Director may use such Proprietary Information only to
the extent required to accomplish the purposes of his position at the Company. The Director shall not use Proprietary Information for
any purpose or in any manner which would constitute a violation of any laws or regulations, including without limitation the export control
laws of the United States. No other rights of licenses to trademarks, inventions, copyrights, or patents are implied or granted under
this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;4. Proprietary Information supplied shall not be reproduced in any form except as required to accomplish
the intent of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;5. The Director represents, warrants and covenants that he shall protect the Proprietary Information received
with at least the same degree of care used to protect his or her own Proprietary Information from unauthorized use or disclosure.

&nbsp;&nbsp;&nbsp;&nbsp;6. All Proprietary Information (including all copies thereof) shall remain in the property of the Company,
and shall be returned to the Company (or destroyed) after the Director's need for it has expired, or upon request of the Company, and
in any event, upon the expiration or termination of Director Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;7. Notwithstanding any other provision of this Agreement, disclosure of Proprietary Information shall not
be precluded if such disclosure:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. is in response to a valid order, including a subpoena, of a court or other governmental body of the United
States or any political subdivision thereof; provided, however, that to the extent reasonably feasible, the Director shall first have
given the Company notice of the Director's receipt of such order and the Company shall have had an opportunity to obtain a protective
order requiring that the Proprietary Information so disclosed be used only for the purpose for which the order was issued;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. is otherwise required by law; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. is otherwise necessary to establish rights or enforce obligations under this Agreement, but only to the
extent that any such disclosure is necessary.

&nbsp;&nbsp;&nbsp;&nbsp;8. This Agreement shall continue in full force and effect during the term of the Director Agreement. This
Agreement may be terminated at any time thereafter upon thirty (30) days written notice to the other party. The termination of this Agreement
shall not relieve the Director of the obligations imposed by Paragraphs 3, 4, 5 and 11 of this Agreement with respect to Proprietary
information disclosed prior to the effective date of such termination and the provisions of these Paragraphs shall survive the termination
of this Agreement indefinitely with respect to Proprietary Information that constitutes **"trade secrets"** and for a period
of eighteen (18) months from the date of such termination with respect to other Proprietary Information.

&nbsp;&nbsp;&nbsp;&nbsp;9. This Agreement shall be governed by the laws of the State of Wyoming as those laws are applied to contracts
entered into and to be performed entirely in Wyoming.

&nbsp;&nbsp;&nbsp;&nbsp;10. This Agreement contains the final, complete and exclusive agreement of the parties relative to the subject
matter hereof and may not be changed, modified, amended or supplemented except by a written instrument signed by both parties.

&nbsp;&nbsp;&nbsp;&nbsp;11. Each party hereby acknowledges and agrees that in the event of any breach of this Agreement by the Director,
including, without limitation, an actual or threatened disclosure of Proprietary Information without the prior express written consent
of the Company, the Company will suffer an irreparable injury, such that no remedy at law will afford it adequate protection against,
or appropriate compensation for, such injury. Accordingly, each party hereby agrees that the Company shall be entitled to specific performance
of the Director's obligations under this Agreement, as well as such further injunctive relief as may be granted by a court of competent
jurisdiction.

[*SIGNATURE PAGE FOLLOWS*]

**IN WITNESS WHEREOF**, the parties hereto have executed this Director Proprietary Information Agreement on and as of the day and year first above written.

---

| | |
|:---|:---|
| **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
| By: |  |
|  | Brian Podolak |
|  | Chief Executive Officer |
| **DIRECTOR:** | **DIRECTOR:** |
| Name: | Randall Miles |

---

**<u>EXHIBIT C</u>**

**VOCODIA HOLDINGS CORP**

**INDEMNIFICATION AGREEMENT**

This **INDEMNIFICATION AGREEMENT** is made effective as of _______________, 2023 (this "**Agreement**"), by and between Vocodia Holdings Corp, a Wyoming corporation (the **"Company"**) and the undersigned signatory (**"Indemnitee"**).

**RECITALS**

&nbsp;&nbsp;&nbsp;&nbsp;A. The Company and Indemnitee recognize the continued difficulty in obtaining liability insurance for its
directors, officers, employees, stockholders, controlling persons, agents and fiduciaries, the significant increases in the cost of such
insurance and the general reductions in the coverage of such insurance.

&nbsp;&nbsp;&nbsp;&nbsp;B. the Company and Indemnitee further recognize the substantial increase in corporate litigation in general,
which subjects directors, officers, employees, controlling persons, stockholders, agents and fiduciaries to expensive litigation risks
at the same time as the availability and coverage of liability insurance has been severely limited.

&nbsp;&nbsp;&nbsp;&nbsp;C. Indemnitee does not regard the current protection available as adequate under the present circumstances,
and Indemnitee and other directors, officers, employees, stockholders, controlling persons, agents and fiduciaries of the Company may
not be willing to serve in such capacities without additional protection.

&nbsp;&nbsp;&nbsp;&nbsp;D. The Company (i) desires to attract and retain highly qualified individuals and entities, such as Indemnitee,
to serve the Company and, in part, in order to induce Indemnitee to be involved with the Company and (ii) wishes to provide for the indemnification
and advancing of expenses to Indemnitee to the maximum extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;E. This Agreement forms part of the consideration for Indemnitee to serve, or to continue to serve, as an
officer or director of the Company, and allows Indemnitee to fulfill his or her fiduciary duties under law and take on actions for or
on behalf of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;F. In view of the considerations set forth above, the Company desires that Indemnitee be indemnified by the
Company as set forth herein.

**NOW, THEREFORE**, in consideration of the premises and the covenants contained herein, the Company and Indemnitee hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Indemnification of Expenses</u>. The Company shall indemnify and hold harmless Indemnitee (including
its respective directors, officers, partners, former partners, members, former members, employees, agents and spouse, as applicable) and
each person who controls any of them or who may be liable within the meaning of Section 15 of the Securities Act of 1933, as amended
(the **"Securities Act"**), or Section 20 of the Securities Exchange Act of 1934, as amended (the **"Exchange Act"**), to the fullest extent permitted by law if Indemnitee was or is or becomes a party to or witness or other participant
in, or is threatened to be made a party to or witness or other participant in, any threatened, pending or completed action, suit, proceeding
or alternative dispute resolution mechanism, or any hearing, inquiry or investigation that Indemnitee believes might lead to the institution
of any such action, suit, proceeding or alternative dispute resolution mechanism, whether civil, criminal, administrative, investigative
or other (hereinafter a **"Claim"**) by reason of (or arising in part or in whole out of) any event or occurrence related
to the fact that Indemnitee is or was or may be deemed a director, officer, stockholder, employee, controlling person, agent or fiduciary
of the Company, or any subsidiary of the Company, or is or was or may be deemed to be serving at the request of the Company as a director,
officer, stockholder, employee, controlling person, agent or fiduciary of another corporation, partnership, limited liability company,
joint venture, trust or other enterprise, or by reason of any action or inaction on the part of Indemnitee while serving in such capacity
including, without limitation, any and all losses, claims, damages, expenses and liabilities, joint or several (including any investigation,
legal and other expenses incurred in connection with, and any amount paid in settlement of, any action, suit, proceeding or any claim
asserted) under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise
or which relate directly or indirectly to the registration, purchase, sale or ownership of any securities of the Company or to any fiduciary
obligation owed with respect thereto or as a direct or indirect result of any Claim made by any stockholder of the Company against Indemnitee
and arising out of or related to any round of financing of the Company (including but not limited to Claims regarding non-participation,
or non-pro rata participation, in such round by such stockholder), or made by a third party against Indemnitee based on any misstatement
or omission of a material fact by the Company in violation of any duty of disclosure imposed on the Company by federal or state securities
or common laws (hereinafter an **"Indemnification Event"**) against any and all expenses (including attorneys' fees
and all other costs, expenses and obligations incurred in connection with investigating, defending a witness in or participating in (including
on appeal), or preparing to defend, be a witness in or participate in, any such action, suit, proceeding, alternative dispute resolution
mechanism, hearing, inquiry or investigation), judgments, fines, penalties and amounts paid in settlement (if, and only if, such settlement
is approved in advance by the Company, which approval shall not be unreasonably withheld) of such Claim and any federal, state, local
or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement (collectively,
hereinafter **"Expenses"**), including all interest, assessments and other charges paid or payable in connection with or
in respect of such Expenses. Such payment of Expenses shall be made by the Company as soon as practicable but in any event no later than
ten (10) days after written demand by Indemnitee therefor is presented to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Reviewing Party</u>. Notwithstanding the foregoing, (i) the obligations of the Company under <u>Section 1(a)</u> shall be subject to the condition that the Reviewing Party (as described in <u>Section 10(e)</u> hereof) shall not have determined
(in a written opinion, in any case in which the Independent Legal Counsel referred to in <u>Section 1(e)</u> hereof is involved)
that Indemnitee would not be permitted to be indemnified under applicable law, and (ii) Indemnitee acknowledges and agrees that the obligation
of the Company to make an advance payment of Expenses to Indemnitee pursuant to <u>Section 2(a)</u> (an **"Expense Advance"**)
shall be subject to the condition that, if, when and to the extent that the Reviewing Party determines that Indemnitee would not be permitted
to be so indemnified under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse
the Company) for all such amounts theretofore paid; provided, however, that if Indemnitee has commenced or thereafter commences legal
proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law,
any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not
be binding and Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final judicial determination
is made with respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed). Indemnitee's obligation
to reimburse the Company for any Expense Advance shall be unsecured and no interest shall be charged thereon. If there has not been a
Change in Control (as defined in <u>Section 10(c)</u> hereof), the Reviewing Party shall be selected by the Company's Board
of Directors (the **"Board"**), and if there has been such a Change in Control (other than a Change in Control which has
been approved by a majority of the Board who were directors immediately prior to such Change in Control), the Reviewing Party shall be
the Independent Legal Counsel referred to in <u>Section 1(e)</u> hereof. If there has been no determination by the Reviewing Party
or if the Reviewing Party determines that Indemnitee substantively would not be permitted to be indemnified in whole or in part under
applicable law, Indemnitee shall have the right to commence litigation seeking an initial determination by the court or challenging any
such determination by the Reviewing Party or any aspect thereof, including the legal or factual bases therefor, and the Company hereby
consents to service of process and to appear in any such proceeding. Any determination by the Reviewing Party otherwise shall be conclusive
and binding on the Company and Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Contribution</u>. If the indemnification provided for in <u>Section 1(a)</u> above for any reason
is determined by the Reviewing Party or held by a court of competent jurisdiction to be unavailable to Indemnitee in respect of any losses,
claims, damages, expenses or liabilities referred to therein, then the Company, in lieu of indemnifying Indemnitee thereunder, shall,
to the fullest extent permissible under applicable law, contribute to the amount paid or payable by Indemnitee as a result of such losses,
claims, damages, expenses or liabilities in such proportion as is appropriate to reflect the relative benefits received by the Company
and Indemnitee and the relative fault of the Company and Indemnitee in connection with the action or inaction which resulted in such losses,
claims, damages, expenses or liabilities, as well as any other relevant equitable considerations. In connection with losses, claims, damages,
expenses or liabilities resulting from the registration of the Company's securities, the relative benefits received by the Company
and Indemnitee shall be deemed to be in the same respective proportions that the net proceeds from the offering (before deducting expenses)
received by them, in each case as set forth in the table on the cover page of the applicable prospectus, bear to the aggregate public
offering price of the securities so offered. The relative fault of the Company and Indemnitee shall be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material
fact relates to information supplied by the Company or Indemnitee and the parties' relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission.

The Company and Indemnitee agree that it would not be just and equitable if contribution pursuant to this <u>Section 1(c)</u> were determined by pro rata or per capita allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. In connection with losses, claims, damages, expenses or liabilities resulting from the registration of the Company's securities, in no event shall Indemnitee be required to contribute any amount under this <u>Section 1(c)</u> in excess of the lesser of (i) that proportion of the total of such losses, claims, damages or liabilities indemnified against equal to Indemnitee's proportion of the total securities being offered under such registration statement or (ii) the proceeds received by Indemnitee from its securities sold under the registration statement. Notwithstanding this <u>Section 1(c)</u>, no person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not found guilty of such fraudulent misrepresentation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Survival Regardless of Investigation</u>. The indemnification and contribution provided for in this <u>Section 1</u> will remain in full force and effect regardless of any investigation made by or on behalf of Indemnitee or any officer,
director, employee, agent or controlling person of Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Change in Control</u>. The Company agrees that if there is a Change in Control of the Company (other
than a Change in Control which has been approved by a majority of the Board who were directors immediately prior to such Change in Control)
then, with respect to all matters thereafter arising concerning the rights of Indemnitee to payments of Expenses under this Agreement
or any other agreement or under the Company's Certificate of Incorporation, as amended (the **"Certificate"**) or
Bylaws, as amended, as now or hereafter in effect, Independent Legal Counsel (as defined in <u>Section 10(d)</u> hereof) shall be
selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld). Such counsel, among other things,
shall render its written opinion to the Company and Indemnitee as to whether and to what extent Indemnitee would be permitted to be indemnified
under applicable law. The Company agrees to abide by such opinion and to pay the reasonable fees of the Independent Legal Counsel referred
to above and to fully indemnify such counsel against any and all expenses (including attorneys' fees), claims, liabilities and damages
arising out of or relating to this Agreement or its engagement pursuant hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Mandatory Payment of Expenses</u>. Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee has been successful on the merits or otherwise, including, without limitation, the dismissal of an action without prejudice,
in the defense of any action, suit, proceeding, inquiry or investigation referred to in <u>Section 1(a)</u> hereof or in the defense
of any claim, issue or matter therein, Indemnitee shall be indemnified against all Expenses incurred by Indemnitee in connection herewith.

&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Expenses ; Indemnification Procedure.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Advancement of Expenses</u>. Subject to <u>Section 1(b)</u> hereof, the Company shall advance
all Expenses incurred by Indemnitee. The advances to be made hereunder shall be paid by the Company to Indemnitee as soon as practicable
but in any event no later than fifteen (15) days after written demand by Indemnitee therefor to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Notice/Cooperation by Indemnitee</u>. Indemnitee shall give the Company written notice as soon as practicable
of any Claim made against Indemnitee for which indemnification will or could be sought under this Agreement; provided, however, that any
failure or delay in giving such notice shall not relieve the Company of its obligations under this Agreement unless and to the extent
that (i) the Company is not aware of such Claim and (ii) the Company is materially prejudiced by such failure or delay. The written notice
to the Company shall include a description of the nature of and the facts underlying the Claim and be directed to the Chief Executive
Officer of the Company at the address shown on the signature page of this Agreement (or such other address as the Company shall designate
in writing to Indemnitee).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>No Presumptions; Burden of Proof</u>. For purposes of this Agreement, the termination of any Claim
by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere, or its equivalent,
shall not create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a
court has determined that indemnification is not permitted by applicable law. In addition, neither the failure of the Reviewing Party
to have made a determination as to whether Indemnitee has met any particular standard of conduct or had any particular belief, nor an
actual determination by the Reviewing Party that Indemnitee has not met such standard of conduct or did not have such belief, prior to
the commencement of legal proceedings by Indemnitee to secure a judicial determination that Indemnitee should be indemnified under applicable
law, shall be a defense to Indemnitee's claim or create a presumption that Indemnitee has not met any particular standard of conduct
or did not have any particular belief. In connection with any determination by the Reviewing Party or otherwise as to whether Indemnitee
is entitled to be indemnified hereunder, the burden of proof shall be on the Company to establish that Indemnitee is not so entitled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Notice to Insurers</u>. If, at the time of the receipt by the Company of a notice of a Claim pursuant
to <u>Section 2(b)</u> hereof, the Company has liability insurance in effect which may cover such Claim, the Company shall give prompt
written notice of the commencement of such Claim to the applicable insurers in accordance with the procedures set forth in each of the
policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee,
all amounts payable as a result of such action, suit, proceeding, inquiry or investigation in accordance with the terms of such policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Selection of Counsel</u>. In the event the Company is obligated hereunder to pay the Expenses of any
Claim, the Company shall be entitled to participate in the proceeding and assume the control of the defense of such Claim, with counsel
reasonably approved by Indemnitee (such approval shall not be unreasonably withheld, delayed or conditioned), upon the delivery to Indemnitee
of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of
such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred
by Indemnitee with respect to the same Claim; provided that, (i) Indemnitee shall have the right to employ Indemnitee's counsel
in any such Claim at Indemnitee's sole expense; (ii) Indemnitee shall have the right to employ Indemnitee's own counsel in
connection with such proceeding, at the expense of the Company, if such counsel serves in a review, observer, advice and counseling capacity
and does not otherwise materially control or participate in the defense of such Claim; and (iii) if the Company and Indemnitee have mutually
concluded that there is a conflict of interest between them in the conduct of the defense of such Claim, then Indemnitee is entitled to
retain its own counsel and the reasonable fees and expenses of Indemnitee's counsel reasonably approved by the Company (such approval
shall not be unreasonably withheld, delayed or conditioned) shall be at the expense of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Additional Indemnification Rights; Non-Exclusivity.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Scope</u>. The Company hereby agrees to indemnify Indemnitee for the Expenses of any Claim to the fullest
extent permitted by law, even if indemnification is not specifically authorized by the other provisions of this Agreement or any other
agreement, the Company's Certificate and Bylaws or by statute. In the event of any change after the date of this Agreement in any
applicable law, statute or rule which expands the right of a Wyoming corporation to indemnify a member of its board of directors or an
officer, employee, agent or fiduciary, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater
benefits afforded by such change. In the event of any change in any applicable law, statute or rule which narrows the right of a Wyoming
corporation to indemnify a member of its board of directors or an officer, employee, agent or fiduciary, such change, to the extent not
otherwise required by such law, statute or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties'
rights and obligations hereunder except as set forth in <u>Section 8(a)</u> hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Non-Exclusivity</u>. Notwithstanding anything in this Agreement, the indemnification provided by this
Agreement shall be in addition to any rights to which Indemnitee may be entitled under the Company's Certificate or Bylaws, any
agreement, any vote of stockholders or disinterested directors, the laws of the State of Wyoming, or otherwise. Notwithstanding anything
in this Agreement, the indemnification provided under this Agreement shall continue as to Indemnitee for any action Indemnitee took or
did not take while serving in an indemnified capacity even though Indemnitee may have ceased to serve in such capacity and indemnification
shall inure to the benefit of Indemnitee from and after Indemnitee's first day of service as a director with the Company or affiliation
with a director from and after the date such director commences services as a director with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>No Duplication of Payments</u>. Notwithstanding anything herein to the contrary, the Company shall
not be liable under this Agreement to make any payment in connection with any Claim made against Indemnitee to the extent Indemnitee has
otherwise actually received payment (under any insurance policy, any other agreement, the Company's Certificate and Bylaws or otherwise)
of the amounts otherwise indemnifiable hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Partial Indemnification</u>. If Indemnitee is entitled under any provision of this Agreement to indemnification
by the Company for any portion of Expenses incurred in connection with any Claim, but not, however, for all of the total amount thereof,
the Company shall nevertheless indemnify Indemnitee for the portion of such Expenses to which Indemnitee is entitled thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Mutual Acknowledgement</u>. The Company and Indemnitee acknowledge that in certain instances, applicable
law or public policy may prohibit the Company from indemnifying its directors, officers, employees, controlling persons, agents or fiduciaries
under this Agreement or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Liability Insurance</u>. During any period of time Indemnitee is entitled to indemnification rights
under this Agreement, the Company shall maintain liability insurance applicable to directors, officers, employees, control persons, agents
or fiduciaries, Indemnitee shall be covered by such policies in such a manner as to provide Indemnitee the same rights and benefits as
are accorded to the most favorably insured of the Company's directors, if Indemnitee is a director, or of the Company's officers,
if Indemnitee is not a director of the Company but is an officer; or of the Company's key employees, controlling persons, agents
or fiduciaries, if Indemnitee is not an officer or director but is a key employee, agent, control person, or fiduciary. Said liability
insurance shall provide coverage amounts of no less than $1 million and shall be held with an insurance carrier which the Board believes
is of financially sound condition. Further, the Company shall at all times maintain a cash reserve of $2 million as a self-insurance fund
to backstop any indemnification obligations pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Exceptions</u>. Any other provision herein to the contrary notwithstanding,
the Company shall not be obligated pursuant to the terms of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Claims Under Section 16(b)</u>. To indemnify Indemnitee for Expenses arising from or in connection
with any Claims for which a final decision by a court having jurisdiction in the matter determines that Indemnitee sold or purchased the
Company's securities in violation of Section 16(b) of the Exchange Act or any similar successor statute;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Compensation Recovery Claims</u>. To indemnify Indemnitee for Expenses arising from or in connection
with any Claims for any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation
or of any profits realized by Indemnitee from the sale of securities of the Company, as required under the Exchange Act (including any
such reimbursements that rise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of
2002, as amended (the **"Sarbanes-Oxley Act"**), or the payment to the Company of profits arising from the purchase and
sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Indemnitee Claims</u>. To indemnify Indemnitee for Expenses arising from or in connection with any
Claims initiated or brought voluntarily by Indemnitee not by way of defense, except with respect to Claims brought to establish or enforce
a right to indemnification under this Agreement, the Company's Certificate and Bylaws or any applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Unlawful Indemnification</u>. To indemnify Indemnitee for Expenses arising from or in connection with
any Claims for which a final decision by a court having jurisdiction in the matter determines that such indemnification is not lawful;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Fraud</u>. To indemnify Indemnitee for Expenses arising from or in connection with any Claims for which
a final decision by a court having jurisdiction in the matter determines that Indemnitee has committed fraud on the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Insurance</u>. To indemnify Indemnitee for which payment is actually and fully made to Indemnitee under
a valid and collectible insurance policy.

&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Period of Limitations</u>. No legal action shall be brought and no
cause of action shall be asserted by or in the right of the Company against Indemnitee or Indemnitee's estate, spouse, heirs, executors
or personal or legal representatives after the expiration of five (5) years from the date of accrual of such cause of action, and any
claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action
within such five (5) year period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause
of action, such shorter period shall govern.

&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Construction of Certain Phrases.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. For purposes of this Agreement, references to the **"Company"** shall include, in addition
to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or
merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, employees,
agents or fiduciaries, so that if Indemnitee is or was or may be deemed a director, officer, employee, agent, control person, or fiduciary
of such constituent corporation, or is or was or may be deemed to be serving at the request of such constituent corporation as a director,
officer, employee, control person, agent or fiduciary of another corporation, partnership, joint venture, employee benefit plan, trust
or other enterprise, Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting
or surviving corporation as Indemnitee would have with respect to such constituent corporation if its separate existence had continued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. For purposes of this Agreement, references to **"other enterprise"** shall include any
employee benefit plan of the Company; references to **"fines"** shall include any excise taxes assessed on Indemnitee with
respect to an employee benefit plan; and references to **"serving at the request of the Company"** shall include any service
as a director, officer, employee, agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer,
employee, agent or fiduciary with respect to an employee benefit plan of the Company, its participants or its beneficiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. For purposes of this Agreement a **"Change in Control"** shall be deemed to have occurred
if (i) any **"person"** (as such term is used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act), other than a
trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned directly or indirectly
by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, (A) who is or becomes
the beneficial owner, directly or indirectly, of securities of the Company representing 20% or more of the combined voting power of the
Company's then outstanding Voting Securities, increases beneficial ownership of such securities by 5% or more, or (B) becomes the **"beneficial owner"** (as defined in Rule 13d-3 under said Exchange Act), directly or indirectly, of securities of the
Company representing more than 30% of the total voting power represented by the Company's then outstanding Voting Securities, (ii)
during any period of two consecutive years, individuals who at the beginning of such period constitute the Board and any new director
whose election by the Board or nomination for election by the Company's stockholders was approved by a vote of at least two-thirds
(2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for
election was previously so approved, cease for any reason to constitute a majority thereof, or (iii) the stockholders of the Company approve
a merger or consolidation of the Company with any other corporation other than a merger or consolidation which would result in the Voting
Securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted
into Voting Securities of the surviving entity) at least two-thirds (2/3) of the total voting power represented by the Voting Securities
of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company
approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of (in one transaction
or a series of transactions) all or substantially all of the Company's assets. **"Voting Securities"** shall mean
any securities of the Company that vote generally in the election of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. For purposes of this Agreement, **"Independent Legal Counsel"** shall mean an attorney
or firm of attorneys, selected in accordance with the provisions of <u>Section 1(e)</u> hereof, who shall not have otherwise performed
services for the Company or Indemnitee within the last three (3) years (other than with respect to matters concerning the right of Indemnitee
under this Agreement, or of other indemnitees under similar indemnity agreements).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. For purposes of this Agreement, a **"Reviewing Party"** shall mean any appropriate person
or body consisting of a member or members of the Board or any other person or body appointed by the Board, who is not a party to the particular
Claim for which Indemnitee is seeking indemnification, such as a committee of the Board or Independent Legal Counsel.

&nbsp;&nbsp;&nbsp;&nbsp;**3.**  **<u>Counterparts</u>** . This Agreement may be executed in one or more counterparts, each of which
shall constitute an original.

&nbsp;&nbsp;&nbsp;&nbsp;**4.**  **<u>Binding Effect; Successors and Assigns</u>** . This Agreement shall be binding upon and inure to
the benefit of and be enforceable by the parties hereto and their respective successors, assigns, including any direct or indirect successor
by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs,
and personal and legal representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger,
consolidation or otherwise) to all, substantially all, or a substantial part, of the business and/or assets of the Company, by written
agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner
and to the same extent that the Company would be required to perform if no such succession had taken place. This Agreement shall continue
in effect with respect to Claims relating to Indemnifiable Events regardless of whether Indemnitee continues to serve as a director, officer,
employee, agent, controlling person, or fiduciary of the Company or of any other enterprise, including subsidiaries of the Company, at
the Company's request.

&nbsp;&nbsp;&nbsp;&nbsp;**5.**  **<u>Attorneys' Fees</u>** . In the event that any action is instituted by Indemnitee under this
Agreement or under any liability insurance policies maintained by the Company to enforce or interpret any of the terms hereof or thereof,
Indemnitee shall be entitled to be paid all Expenses incurred by Indemnitee with respect to such action if Indemnitee is ultimately successful
in such action. In the event of an action instituted by or in the name of the Company under this Agreement to enforce or interpret any
of the terms of this Agreement, Indemnitee shall be entitled to be paid Expenses incurred by Indemnitee in the defense of such action
(including costs and expenses incurred with respect to Indemnitee counterclaims and cross-claims made in such action), and shall be entitled
to the advancement of Expenses with respect to such action, in each case only to the extent that Indemnitee is ultimately successful in
such action.

&nbsp;&nbsp;&nbsp;&nbsp;**6.**  **<u>Notice</u>** . All notices and other communications required or permitted hereunder shall be in
writing, shall be effective when given, and shall in any event be deemed to be given (a) five (5) days after deposit with the U.S. Postal
Service or other applicable postal service, if delivered by first class mail, postage prepaid, (b) upon delivery, if delivered by hand,
(c) one business day after the business day of deposit with Federal Express or similar overnight courier, freight prepaid, or (d) one
day after the business day of delivery by facsimile transmission, if deliverable by facsimile transmission, with copy by first class mail,
postage prepaid, and shall be addressed if to Indemnitee, at Indemnitee's address as set forth beneath the Indemnitee's signature
to this Agreement and if to the Company at the address of its principal corporate offices (attention: Secretary) or at such other address
as such party may designate by ten (10) days' advance written notice to the other party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;**7.**  **<u>Severability</u>** . The provisions of this Agreement shall be severable in the event that any
of the provisions hereof (including any provision within a single section, paragraph or sentence) are held by a court of competent
jurisdiction to be invalid, void or otherwise unenforceable, and the remaining provisions hereof shall remain enforceable to the fullest
extent permitted by law. Furthermore, to the fullest extent possible, this Agreement (including, without limitations, each portion of
this Agreement containing any provision held to be invalid, void or otherwise unenforceable, that is not itself invalid, void or unenforceable)
shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

&nbsp;&nbsp;&nbsp;&nbsp;**8.**  **<u>Resolution of Dispute</u>** . This Agreement shall be governed by and its provisions construed
and enforced in accordance with the laws of the State of Wyoming, without regard to the conflict of laws principles thereof. To the fullest
extent permitted by law, and unless the Company consents in writing to the selection of an alternative forum, the Courts of the State
of Wyoming shall be the sole and exclusive forum for all purposes in connection with any dispute regarding, arising out of or relating
to this Agreement (including without limitation its validity, interpretation, performance, enforcement, termination and damages).

&nbsp;&nbsp;&nbsp;&nbsp;**9.**  **<u>Subrogation</u>** . In the event of payment under this Agreement, the Company shall be subrogated
to the extent of such payment to all of the rights of recovery of Indemnitee who shall execute all documents required and shall do all
acts that may be necessary to secure such rights and to enable the Company effectively to bring suit to enforce such rights.

&nbsp;&nbsp;&nbsp;&nbsp;**10.**  **<u>Amendment and Termination</u>** . No amendment, modification, termination or cancellation of this
Agreement shall be effective unless it is in writing signed by the parties to be bound thereby. Notice of same shall be provided to all
parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions
hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

&nbsp;&nbsp;&nbsp;&nbsp;**11.**  **<u>Corporate Authority</u>** . The Board has approved the terms of this Agreement.

**IN WITNESS WHEREOF**, the parties hereto have executed this Indemnification Agreement on and as of the day and year first above written.

---

| | |
|:---|:---|
| **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
| By: |  |
|  | Brian Podolak |
|  | Chief Executive Officer |
| **INDEMNITTEE:** | **INDEMNITTEE:** |
| Name: | Randall Miles |

---

## Exhibit 10.6

**Exhibit 10.6**

**FORM OF VOCODIA HOLDINGS CORP**

**BOARD OF DIRECTORS AGREEMENT**

This **BOARD OF DIRECTORS AGREEMENT** (**"Agreement"**) dated as of January [\*], 2023, by and between Vocodia Holdings Corp, a Wyoming corporation (the **"Company"**), and the undersigned signatory (the **"Director"**), provides for director services, according to the following terms and conditions:

&nbsp;&nbsp;&nbsp;&nbsp;I. <u>Position and Responsibilities</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Position</u>. As of the Effective Date, the Board of Directors hereby appoints the Director to serve
as a Board member until the next annual meeting of the Company's shareholders or until his earlier resignation, removal or death.
The Director shall perform such duties and responsibilities as are customarily related to such position in accordance with Company's
bylaws and applicable law, including, but not limited to, those services described on **Exhibit A** attached hereto (the "Services").
Director hereby agrees to use his best efforts to provide the Services. Director shall not allow any other person or entity to perform
any of the Services for or instead of Director. Director shall comply with the statutes, rules, regulations and orders of any governmental
or quasi-governmental authority, which are applicable to the Company and the performance of the Services, and Company's rules, regulations,
and practices as they may from time-to-time be adopted or modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Other Activities</u>. Director may be employed by another company, may serve on other Boards of Directors
or Advisory Boards, and may engage in any other business activity (whether or not pursued for pecuniary advantage), as long as such outside
activities do not violate Director's obligations under this Agreement or Director's fiduciary obligations to the Company's
shareholders. The ownership of less than a 5% interest in an entity, by itself, shall not constitute a violation of this duty. Director
represents that Director has no outstanding agreement or obligation that is in conflict with any of the provisions of this Agreement,
and Director agrees to use his best efforts to avoid or minimize any such conflict and agrees not to enter into any agreement or obligation
that could create such a conflict without the approval of a majority of the Board of Directors. If, at any time, Director is required
to make any disclosure or take any action that may conflict with any of the provisions of this Agreement, Director will promptly notify
the Board of such obligation, prior to making such disclosure or taking such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Conflict</u>. Director will not engage in any activity that creates an actual or perceived conflict
of interest with Company, regardless of whether such activity is prohibited by Company's conflict of interest guidelines or this
Agreement, and Director agrees to notify the Board of Directors before engaging in any activity that could reasonably be assumed to create
a potential conflict of interest with Company. Notwithstanding the provisions of <u>Section 1(b)</u> hereof, Director shall not engage
in any activity that is in direct competition with the Company or serve in any capacity (including, but not limited to, as an employee,
consultant, advisor or director) in any company or entity that competes directly or indirectly with the Company, as reasonably determined
by a majority of Company's disinterested board members, without the approval of the Board of Directors.

The Director agrees, subject to the Director's continued status as a director, to serve on the Company's Board of Directors (the **"Board"**) and to provide those services required of a director under the Company's amended and restated certificate of incorporation and bylaws, as both may be amended from time to time (**"Charter Documents"**) and under the federal securities laws and other state and federal laws and regulations, as applicable, and the rules and regulations of the U.S. Securities and Exchange Commission (the **"SEC"**) and any stock exchange or quotation system on which the Company's securities may be traded from time to time. Director will also serve on such one or more committees of the Board as he or she and the Board shall mutually agree.

&nbsp;&nbsp;&nbsp;&nbsp;II. <u>Nature of Relationship</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Director is an independent contractor and will not be deemed as an employee of the Company for any
purposes by virtue of this Agreement. The Director shall be solely responsible for the payment or withholding of all federal, state, or
local income taxes, social security taxes, unemployment taxes, and any and all other taxes relating to the compensation he or she earns
under this Agreement. The Director shall not, in his or her capacity as a director of the Company, enter into any agreement or incur any
obligations on the Company's behalf, without appropriate Board action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Company will supply, at no cost to the Director: periodic briefings on the business, director packages
for each board and committee meeting, copies of minutes of meetings and any other materials that are required under the Company's
Charter Documents or the charter of any committee of the Board on which the Director serves and any other materials which may, by mutual
agreement, be necessary for performing the services requested under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;III. <u>Director's Representations and Warranties</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Director represents and warrants that no other party has exclusive rights to his services in the specific
areas in which the Company is conducting business and that the Director is in no way compromising any rights or trust between any other
party and the Director or creating a conflict of interest as a result of his or her participation on the Board. The Director also represents,
warrants and covenants that so long as the Director serves on the Board, the Director will not enter into another agreement that will
create a conflict of interest with this Agreement or the Company. The Director further represents, warrants and covenants that he or she
will comply with the Company's Articles, Bylaws, policies and guidelines, all applicable laws and regulations, including Sections 10
and 16 of the Securities Exchange Act of 1934, as amended, and listing rules of The Nasdaq Stock Market LLC or any other stock exchanges
on which the Company's securities may be traded; that if he or she is designated by the Board as an independent director, he or
she shall promptly notify the Board of any circumstances that may potentially impair his or her independence as a director of the Company;
and that he or she shall promptly notify the Board of any arrangements or agreements relating to compensation provided by a third party
to him or her in connection with his or her status as a director or director nominee of the Company or the services requested under this
Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Throughout the term of this Agreement, the Director agrees he or she will not, without obtaining the Company's
prior written consent, directly or indirectly engage or prepare to engage in any activity in competition with the Company's business,
products or services, including without limitation, products or services in the development stage, accept employment or provide services
to (including but not limited to service as a member of a board of directors), or establish a business in competition with the Company;
provided, however, that the Director may serve or continue to serve as an officer or director of one or more entities that are affiliated
with the Company, including without limitation, entities in which the Company does not have a majority holding.

&nbsp;&nbsp;&nbsp;&nbsp;IV. <u>Fees</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Cash Fee</u>. Subject to <u>Section VI</u> and during the term of this Agreement, the Company
shall pay the Director, if the Company does not otherwise compensate the Director as an officer or employee, a non-refundable base fee
of $12,000 ()"**Base Fee**") in consideration for the Director providing the services described in <u>Section I</u> which shall compensate him or her for all time spent preparing for, travelling to (if applicable) and attending Board or committee meetings.
In addition, the Company shall pay the Director a quarterly fee of an additional $3,000 in consideration for the Director's service
as nominating and corporate governance committee chair ()"**Chair Fee** "). These cash fees may be revised by action of the
Board from time to time. Such revision shall be effective as of the date specified in the resolution for payments not yet earned and need
not be documented by an amendment to this Agreement to be effective. In addition, if the non-employee Director serves as the chairperson
of any standing committee of the Board, he or she may be entitled to additional cash compensation as decided by the Board (or the compensation
committee thereof) in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Payment</u>. The Base Fee and the Chair Fee shall be paid quarterly at the beginning of each calendar
quarter. No invoices need be submitted by the Director for payment of the Base or Chair Fee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. <u>Equity Compensation</u>. For services as a member of the Board, Director shall be granted an award
of 20,000 shares of restricted stock units (the "  **<u>RSUs</u>** "). The RSUs shall vest with respect to twenty five percent
(25%) of the total number of RSUs (5,000) on the Effective Date and twenty five percent (25%) thereafter every three (3) month anniversary
of the Effective Date until fully vested on the first (1st) anniversary of the Effective Date, subject to Director's continuous
service to the Company through the applicable vesting date. The RSUs shall otherwise be subject to the terms of the 2022 Equity Stock
Option Plan, which may be amended from time to time, pursuant to which they are granted and/or an award agreement to be entered into between
Director and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. <u>Expenses</u>. During the term of this Agreement, the Company will reimburse the Director for reasonable
business related expenses approved by the Company in advance, such approval not to be unreasonably withheld. Invoices for expenses, with
receipts attached, shall be submitted. Such invoices must be approved by the Company's Chief Executive Officer or Chief Financial
Officer as to form and completeness.

&nbsp;&nbsp;&nbsp;&nbsp;V. <u>Indemnification and Insurance</u> 

The Company will execute an indemnification agreement in favor of the Director substantially in the form of the agreement attached hereto as **Exhibit C** (the **"Indemnification Agreement"**). In addition, so long as the Company's indemnification obligations exist under the Indemnification Agreement, the Company shall provide the Director with directors' and officers' liability insurance coverage in the amounts specified in the Indemnification Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;VI. <u>Term of Agreement and Amendments</u> 

This Agreement shall commence from the date the Company's Form S-1 registration statement goes effective with the U.S. Securities and Exchange Commission (the "**Effective Date**") for the Company's proposed initial public offering of securities (the "**Public Offering**") under the Securities Act of 1933, as amended (the "**Securities Act**"), and shall continue for a period of one (1) year from the Effective Date and shall continue thereafter for as long as Director is elected as a member of the Board of Directors by the shareholders of the Company unless the Board determines not to renew this Agreement. Any amendment to this Agreement must be approved by the Board. Amendments to <u>Section IV</u> **"Fees"** hereof do not require the Director's consent to be effective.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. This Agreement shall automatically terminate upon the death of the Director or upon his resignation or
removal from, or failure to win election or reelection to, the Board. In the event of expiration or termination of this Agreement, the
Director agrees to return or destroy any materials transferred to the Director under this Agreement except as may be necessary to fulfill
any outstanding obligations hereunder. The Director agrees that the Company has the right of injunctive relief to enforce this provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Company's and the Director's continuing obligations hereunder in the event of expiration
or termination of this Agreement shall be subject to the terms of <u>Section XIV</u> hereof.

&nbsp;&nbsp;&nbsp;&nbsp;VIII. <u>Limitation of Liability and Force Majeure</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Under no circumstances shall the Company be liable to the Director for any consequential damages claimed
by any other party as a result of representations made by the Director with respect to the Company which are materially different from
any to those made in writing by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Furthermore, except for the maintenance of confidentiality, neither party shall be liable to the other
for delay in any performance, or for failure to render any performance under this Agreement when such delay or failure is caused by Government
regulations (whether or not valid), fire, strike, differences with workmen, illness of employees, flood, accident, or any other cause
or causes beyond reasonable control of such delinquent party.

&nbsp;&nbsp;&nbsp;&nbsp;IX. <u>Confidentiality and Use of Director Information</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Director agrees to sign and abide by the Company's Director Proprietary Information Agreement
attached hereto as **Exhibit B** (the **"Proprietary Information Agreement"**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Director explicitly consents to the Company holding and processing both electronically and manually
the information that he or she provides to the Company or the data that the Company collects which relates to the Director for the purpose
of the administration, management and compliance purposes, including but not limited to the Company's disclosure of any and all
information provided by the Director in the Company's proxy statements, annual reports or other securities filings or reports pursuant
to federal or state securities laws or regulations, and the Director agrees to promptly notify the Company of any misstatement of a material
fact regarding the Director, and of the omission of any material fact necessary to make the statements contained in such documents regarding
the Director not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;X. <u>Dispute Resolution</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. *Jurisdiction and Venue*. The parties agree that any suit, action, or proceeding between Director
and Company (and its affiliates, shareholders, directors, officers, employees, members, agents, successors, attorneys, and assigns) relating
to this Agreement shall be brought in either the United States District Court for the State of Wyoming or in a Wyoming state court and
that the parties shall submit to the jurisdiction of such court. The parties irrevocably waive, to the fullest extent permitted by law,
any objection the party may have to the laying of venue for any such suit, action or proceeding brought in such court. If any one or more
provisions of this Section shall for any reason be held invalid or unenforceable, it is the specific intent of the parties that such provisions
shall be modified to the minimum extent necessary to make it or its application valid and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. *Attorneys' Fees*. Should any litigation, arbitration or other proceeding be commenced between
the parties concerning the rights or obligations of the parties under this Agreement, the party prevailing in such proceeding shall be
entitled, in addition to such other relief as may be granted, to a reasonable sum as and for its attorneys' fees in such proceeding.
This amount shall be determined by the court in such proceeding or in a separate action brought for that purpose. In addition to any amount
received as attorneys' fees, the prevailing party also shall be entitled to receive from the party held to be liable, an amount
equal to the attorneys' fees and costs incurred in enforcing any judgment against such party. This Section is severable from the
other provisions of this Agreement and survives any judgment and is not deemed merged into any judgment.

&nbsp;&nbsp;&nbsp;&nbsp;XI. <u>Entire Agreement</u> 

This Agreement (including agreements executed in substantially the form of the exhibits attached hereto) supersedes all prior or contemporaneous written or oral understandings or agreements, and, except as otherwise set forth herein, may not be added to, modified, or waived, in whole or in part, except by a writing signed by the party against whom such addition, modification or waiver is sought to be asserted.

&nbsp;&nbsp;&nbsp;&nbsp;XII. <u>Assignment</u> 

This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns and, except as otherwise expressly provided herein, neither this Agreement, nor any of the rights, interests or obligations hereunder shall be assigned by either of the parties hereto without the prior written consent of the other party.

&nbsp;&nbsp;&nbsp;&nbsp;XIII. <u>Notices</u> 

Any and all notices, requests and other communications required or permitted hereunder shall be in writing, registered mail or by facsimile, to each of the parties at the addresses provided. Any such notice shall be deemed given when received and notice given by registered mail shall be considered to have been given on the tenth (10th) day after having been sent in the manner provided for above.

&nbsp;&nbsp;&nbsp;&nbsp;XIV. <u>Survival of Obligations</u> 

Notwithstanding the expiration or termination of this Agreement, neither party hereto shall be released hereunder from any liability or obligation to the other which has already accrued as of the time of such expiration or termination (including, without limitation, the Director's obligations under the Proprietary Information Agreement, the Company's obligation to make any fees and expense payments required pursuant to <u>Section IV</u> due up to the date of the expiration or termination, and the Company's indemnification and insurance obligations set forth in <u>Section V</u> hereof) or which thereafter might accrue in respect of any act or omission of such party prior to such expiration or termination.

&nbsp;&nbsp;&nbsp;&nbsp;XV. <u>Attorneys' Fees</u> 

If any legal action or other proceeding is brought for the enforcement of this Agreement, or because of a dispute, breach or default in connection with any of the provisions hereof, the successful or substantially prevailing party (including a party successful or substantially prevailing in defense) shall be entitled to recover its actual attorneys' fees and other costs incurred in that action or proceeding, in addition to any other relief to which it may be entitled.

&nbsp;&nbsp;&nbsp;&nbsp;XVI. <u>Severability</u> 

Any provision of this Agreement which is determined to be invalid or unenforceable shall not affect the remainder of this Agreement, which shall remain in effect as though the invalid or unenforceable provision had not been included herein, unless the removal of the invalid or unenforceable provision would substantially defeat the intent, purpose or spirit of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;XVII. <u>Counterparts</u> 

This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one instrument. Execution and delivery of this Agreement by facsimile or other electronic signature is legal, valid and binding for all purposes.

[*SIGNATURE PAGE FOLLOWS]*

**IN WITNESS WHEREOF**, the parties hereto have caused this Board of Directors Agreement to be executed as of the date first written above.

---

| | |
|:---|:---|
| **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
| By: |  |
|  | Brian Podolak |
|  | Chief Executive Officer |
| **DIRECTOR:** | **DIRECTOR:** |
| Name: | Ned L. Siegel |

---

**<u>EXHIBIT A</u>**

**<u>DESCRIPTION OF SERVICES</u>**

<u>Responsibilities as Director</u>. Director shall have all responsibilities of a Director of the Company imposed by Wyoming or applicable law, the Articles of Incorporation, as amended, and Bylaws of the Company. These responsibilities shall include, but shall not be limited to, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Attendance</u>. Use best efforts to attend scheduled meetings of Company's Board of Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Act as a Fiduciar</u> y. Represent the shareholders and the interests
of Company as a fiduciary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Participation</u>. Participate as a full voting member of Company's Board of Directors in setting
overall objectives, approving plans and programs of operation, formulating general policies, offering advice and counsel, serving on Board
Committees, and reviewing management performance.

**<u>EXHIBIT B</u>**

**VOCODIA HOLDINGS CORP**

**DIRECTOR PROPRIETARY INFORMATION AGREEMENT**

This **DIRECTOR PROPRIETARY INFORMATION AGREEMENT** (the **"Agreement"**) is made effective as of as of the date of that certain Director Agreement (as defined herein), by and between Vocodia Holdings Corp, a Wyoming corporation (the **"Company"**), and the undersigned signatory (the **"Director"**).

**WHEREAS**, the Director has agreed to serve on the Board of Directors of the Company (the **"Board"**) pursuant to that certain Board of Directors Agreement between the Company and Director (the "**Director Agreement**");

**WHEREAS**, the parties desire to assure the confidential status of the information which may be disclosed by the Company to the Director in connection with the Director serving on the Board; and

**NOW THEREFORE**, in reliance upon and in consideration of the following undertaking, the parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. Subject to the limitations set forth in <u>Section 2</u>, all information disclosed by the Company
to the Director shall be deemed to be **"Proprietary Information."** In particular, Proprietary Information shall be deemed
to include any information, process, technique, algorithm, program, design, drawing, formula or test data relating to any research project,
work in process, future development, engineering, manufacturing, marketing, servicing, financing or personnel matter relating to the Company,
any of its affiliates or subsidiaries, present or future products, sales, suppliers, customers, employees, investors, or business of the
Company or any of its affiliates or subsidiaries, whether oral, written, graphic or electronic form.

&nbsp;&nbsp;&nbsp;&nbsp;2. The term **"Proprietary Information"** shall not be deemed to include the following information:
(i) information which is now, or hereafter becomes, through no breach of this Agreement on the part of the Director, generally known or
available to the public; (ii) is known by the Director at the time of receiving such information; (iii) is hereafter furnished to the
Director by a third party, as a matter of right and without restriction on disclosure; or (iv) is the subject of a written permission
to disclose provided by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;3. The Director shall maintain in trust and confidence and not disclose to any third party or use for any
unauthorized purpose any Proprietary Information received from the Company. The Director may use such Proprietary Information only to
the extent required to accomplish the purposes of his position at the Company. The Director shall not use Proprietary Information for
any purpose or in any manner which would constitute a violation of any laws or regulations, including without limitation the export control
laws of the United States. No other rights of licenses to trademarks, inventions, copyrights, or patents are implied or granted under
this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;4. Proprietary Information supplied shall not be reproduced in any form except as required to accomplish
the intent of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;5. The Director represents, warrants and covenants that he shall protect the Proprietary Information received
with at least the same degree of care used to protect his or her own Proprietary Information from unauthorized use or disclosure.

&nbsp;&nbsp;&nbsp;&nbsp;6. All Proprietary Information (including all copies thereof) shall remain in the property of the Company,
and shall be returned to the Company (or destroyed) after the Director's need for it has expired, or upon request of the Company, and
in any event, upon the expiration or termination of Director Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;7. Notwithstanding any other provision of this Agreement, disclosure of Proprietary Information shall not
be precluded if such disclosure:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. is in response to a valid order, including a subpoena, of a court or other governmental body of the United
States or any political subdivision thereof; provided, however, that to the extent reasonably feasible, the Director shall first have
given the Company notice of the Director's receipt of such order and the Company shall have had an opportunity to obtain a protective
order requiring that the Proprietary Information so disclosed be used only for the purpose for which the order was issued;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. is otherwise required by law; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. is otherwise necessary to establish rights or enforce obligations under this Agreement, but only to the
extent that any such disclosure is necessary.

&nbsp;&nbsp;&nbsp;&nbsp;8. This Agreement shall continue in full force and effect during the term of the Director Agreement. This
Agreement may be terminated at any time thereafter upon thirty (30) days written notice to the other party. The termination of this Agreement
shall not relieve the Director of the obligations imposed by Paragraphs 3, 4, 5 and 11 of this Agreement with respect to Proprietary
information disclosed prior to the effective date of such termination and the provisions of these Paragraphs shall survive the termination
of this Agreement indefinitely with respect to Proprietary Information that constitutes **"trade secrets"** and for a period
of eighteen (18) months from the date of such termination with respect to other Proprietary Information.

&nbsp;&nbsp;&nbsp;&nbsp;9. This Agreement shall be governed by the laws of the State of Wyoming as those laws are applied to contracts
entered into and to be performed entirely in Wyoming.

&nbsp;&nbsp;&nbsp;&nbsp;10. This Agreement contains the final, complete and exclusive agreement of the parties relative to the subject
matter hereof and may not be changed, modified, amended or supplemented except by a written instrument signed by both parties.

&nbsp;&nbsp;&nbsp;&nbsp;11. Each party hereby acknowledges and agrees that in the event of any breach of this Agreement by the Director,
including, without limitation, an actual or threatened disclosure of Proprietary Information without the prior express written consent
of the Company, the Company will suffer an irreparable injury, such that no remedy at law will afford it adequate protection against,
or appropriate compensation for, such injury. Accordingly, each party hereby agrees that the Company shall be entitled to specific performance
of the Director's obligations under this Agreement, as well as such further injunctive relief as may be granted by a court of competent
jurisdiction.

[*SIGNATURE PAGE FOLLOWS*]

**IN WITNESS WHEREOF**, the parties hereto have executed this Director Proprietary Information Agreement on and as of the day and year first above written.

---

| | |
|:---|:---|
| **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
| By: |  |
|  | Brian Podolak |
|  | Chief Executive Officer |
| **DIRECTOR:** | **DIRECTOR:** |
| Name: | Ned L. Siegel |

---

**<u>EXHIBIT C</u>**

**VOCODIA HOLDINGS CORP**

**INDEMNIFICATION AGREEMENT**

This **INDEMNIFICATION AGREEMENT** is made effective as of _______________, 2023 (this "**Agreement**"), by and between Vocodia Holdings Corp, a Wyoming corporation (the **"Company"**) and the undersigned signatory (**"Indemnitee"**).

**RECITALS**

&nbsp;&nbsp;&nbsp;&nbsp;A. The Company and Indemnitee recognize the continued difficulty in obtaining liability insurance for its
directors, officers, employees, stockholders, controlling persons, agents and fiduciaries, the significant increases in the cost of such
insurance and the general reductions in the coverage of such insurance.

&nbsp;&nbsp;&nbsp;&nbsp;B. the Company and Indemnitee further recognize the substantial increase in corporate litigation in general,
which subjects directors, officers, employees, controlling persons, stockholders, agents and fiduciaries to expensive litigation risks
at the same time as the availability and coverage of liability insurance has been severely limited.

&nbsp;&nbsp;&nbsp;&nbsp;C. Indemnitee does not regard the current protection available as adequate under the present circumstances,
and Indemnitee and other directors, officers, employees, stockholders, controlling persons, agents and fiduciaries of the Company may
not be willing to serve in such capacities without additional protection.

&nbsp;&nbsp;&nbsp;&nbsp;D. The Company (i) desires to attract and retain highly qualified individuals and entities, such as Indemnitee,
to serve the Company and, in part, in order to induce Indemnitee to be involved with the Company and (ii) wishes to provide for the indemnification
and advancing of expenses to Indemnitee to the maximum extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;E. This Agreement forms part of the consideration for Indemnitee to serve, or to continue to serve, as an
officer or director of the Company, and allows Indemnitee to fulfill his or her fiduciary duties under law and take on actions for or
on behalf of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;F. In view of the considerations set forth above, the Company desires that Indemnitee be indemnified by the
Company as set forth herein.

**NOW, THEREFORE**, in consideration of the premises and the covenants contained herein, the Company and Indemnitee hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Indemnification of Expenses</u>. The Company shall indemnify and hold harmless Indemnitee (including
its respective directors, officers, partners, former partners, members, former members, employees, agents and spouse, as applicable) and
each person who controls any of them or who may be liable within the meaning of Section 15 of the Securities Act of 1933, as amended
(the **"Securities Act"**), or Section 20 of the Securities Exchange Act of 1934, as amended (the **"Exchange Act"**), to the fullest extent permitted by law if Indemnitee was or is or becomes a party to or witness or other participant
in, or is threatened to be made a party to or witness or other participant in, any threatened, pending or completed action, suit, proceeding
or alternative dispute resolution mechanism, or any hearing, inquiry or investigation that Indemnitee believes might lead to the institution
of any such action, suit, proceeding or alternative dispute resolution mechanism, whether civil, criminal, administrative, investigative
or other (hereinafter a **"Claim"**) by reason of (or arising in part or in whole out of) any event or occurrence related
to the fact that Indemnitee is or was or may be deemed a director, officer, stockholder, employee, controlling person, agent or fiduciary
of the Company, or any subsidiary of the Company, or is or was or may be deemed to be serving at the request of the Company as a director,
officer, stockholder, employee, controlling person, agent or fiduciary of another corporation, partnership, limited liability company,
joint venture, trust or other enterprise, or by reason of any action or inaction on the part of Indemnitee while serving in such capacity
including, without limitation, any and all losses, claims, damages, expenses and liabilities, joint or several (including any investigation,
legal and other expenses incurred in connection with, and any amount paid in settlement of, any action, suit, proceeding or any claim
asserted) under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise
or which relate directly or indirectly to the registration, purchase, sale or ownership of any securities of the Company or to any fiduciary
obligation owed with respect thereto or as a direct or indirect result of any Claim made by any stockholder of the Company against Indemnitee
and arising out of or related to any round of financing of the Company (including but not limited to Claims regarding non-participation,
or non-pro rata participation, in such round by such stockholder), or made by a third party against Indemnitee based on any misstatement
or omission of a material fact by the Company in violation of any duty of disclosure imposed on the Company by federal or state securities
or common laws (hereinafter an **"Indemnification Event"**) against any and all expenses (including attorneys' fees
and all other costs, expenses and obligations incurred in connection with investigating, defending a witness in or participating in (including
on appeal), or preparing to defend, be a witness in or participate in, any such action, suit, proceeding, alternative dispute resolution
mechanism, hearing, inquiry or investigation), judgments, fines, penalties and amounts paid in settlement (if, and only if, such settlement
is approved in advance by the Company, which approval shall not be unreasonably withheld) of such Claim and any federal, state, local
or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement (collectively,
hereinafter **"Expenses"**), including all interest, assessments and other charges paid or payable in connection with or
in respect of such Expenses. Such payment of Expenses shall be made by the Company as soon as practicable but in any event no later than
ten (10) days after written demand by Indemnitee therefor is presented to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Reviewing Party</u>. Notwithstanding the foregoing, (i) the obligations of the Company under <u>Section 1(a)</u> shall be subject to the condition that the Reviewing Party (as described in <u>Section 10(e)</u> hereof) shall not have determined
(in a written opinion, in any case in which the Independent Legal Counsel referred to in <u>Section 1(e)</u> hereof is involved)
that Indemnitee would not be permitted to be indemnified under applicable law, and (ii) Indemnitee acknowledges and agrees that the obligation
of the Company to make an advance payment of Expenses to Indemnitee pursuant to <u>Section 2(a)</u> (an **"Expense Advance"**)
shall be subject to the condition that, if, when and to the extent that the Reviewing Party determines that Indemnitee would not be permitted
to be so indemnified under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse
the Company) for all such amounts theretofore paid; provided, however, that if Indemnitee has commenced or thereafter commences legal
proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law,
any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not
be binding and Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final judicial determination
is made with respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed). Indemnitee's obligation
to reimburse the Company for any Expense Advance shall be unsecured and no interest shall be charged thereon. If there has not been a
Change in Control (as defined in <u>Section 10(c)</u> hereof), the Reviewing Party shall be selected by the Company's Board
of Directors (the **"Board"**), and if there has been such a Change in Control (other than a Change in Control which has
been approved by a majority of the Board who were directors immediately prior to such Change in Control), the Reviewing Party shall be
the Independent Legal Counsel referred to in <u>Section 1(e)</u> hereof. If there has been no determination by the Reviewing Party
or if the Reviewing Party determines that Indemnitee substantively would not be permitted to be indemnified in whole or in part under
applicable law, Indemnitee shall have the right to commence litigation seeking an initial determination by the court or challenging any
such determination by the Reviewing Party or any aspect thereof, including the legal or factual bases therefor, and the Company hereby
consents to service of process and to appear in any such proceeding. Any determination by the Reviewing Party otherwise shall be conclusive
and binding on the Company and Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Contribution</u>. If the indemnification provided for in <u>Section 1(a)</u> above for any reason
is determined by the Reviewing Party or held by a court of competent jurisdiction to be unavailable to Indemnitee in respect of any losses,
claims, damages, expenses or liabilities referred to therein, then the Company, in lieu of indemnifying Indemnitee thereunder, shall,
to the fullest extent permissible under applicable law, contribute to the amount paid or payable by Indemnitee as a result of such losses,
claims, damages, expenses or liabilities in such proportion as is appropriate to reflect the relative benefits received by the Company
and Indemnitee and the relative fault of the Company and Indemnitee in connection with the action or inaction which resulted in such losses,
claims, damages, expenses or liabilities, as well as any other relevant equitable considerations. In connection with losses, claims, damages,
expenses or liabilities resulting from the registration of the Company's securities, the relative benefits received by the Company
and Indemnitee shall be deemed to be in the same respective proportions that the net proceeds from the offering (before deducting expenses)
received by them, in each case as set forth in the table on the cover page of the applicable prospectus, bear to the aggregate public
offering price of the securities so offered. The relative fault of the Company and Indemnitee shall be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material
fact relates to information supplied by the Company or Indemnitee and the parties' relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission.

The Company and Indemnitee agree that it would not be just and equitable if contribution pursuant to this <u>Section 1(c)</u> were determined by pro rata or per capita allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. In connection with losses, claims, damages, expenses or liabilities resulting from the registration of the Company's securities, in no event shall Indemnitee be required to contribute any amount under this <u>Section 1(c)</u> in excess of the lesser of (i) that proportion of the total of such losses, claims, damages or liabilities indemnified against equal to Indemnitee's proportion of the total securities being offered under such registration statement or (ii) the proceeds received by Indemnitee from its securities sold under the registration statement. Notwithstanding this <u>Section 1(c)</u>, no person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not found guilty of such fraudulent misrepresentation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Survival Regardless of Investigation</u>. The indemnification and contribution provided for in this <u>Section 1</u> will remain in full force and effect regardless of any investigation made by or on behalf of Indemnitee or any officer,
director, employee, agent or controlling person of Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Change in Control</u>. The Company agrees that if there is a Change in Control of the Company (other
than a Change in Control which has been approved by a majority of the Board who were directors immediately prior to such Change in Control)
then, with respect to all matters thereafter arising concerning the rights of Indemnitee to payments of Expenses under this Agreement
or any other agreement or under the Company's Certificate of Incorporation, as amended (the **"Certificate"**) or
Bylaws, as amended, as now or hereafter in effect, Independent Legal Counsel (as defined in <u>Section 10(d)</u> hereof) shall be
selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld). Such counsel, among other things,
shall render its written opinion to the Company and Indemnitee as to whether and to what extent Indemnitee would be permitted to be indemnified
under applicable law. The Company agrees to abide by such opinion and to pay the reasonable fees of the Independent Legal Counsel referred
to above and to fully indemnify such counsel against any and all expenses (including attorneys' fees), claims, liabilities and damages
arising out of or relating to this Agreement or its engagement pursuant hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Mandatory Payment of Expenses</u>. Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee has been successful on the merits or otherwise, including, without limitation, the dismissal of an action without prejudice,
in the defense of any action, suit, proceeding, inquiry or investigation referred to in <u>Section 1(a)</u> hereof or in the defense
of any claim, issue or matter therein, Indemnitee shall be indemnified against all Expenses incurred by Indemnitee in connection herewith.

&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Expenses ; Indemnification Procedure.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Advancement of Expenses</u>. Subject to <u>Section 1(b)</u> hereof, the Company shall advance
all Expenses incurred by Indemnitee. The advances to be made hereunder shall be paid by the Company to Indemnitee as soon as practicable
but in any event no later than fifteen (15) days after written demand by Indemnitee therefor to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Notice/Cooperation by Indemnitee</u>. Indemnitee shall give the Company written notice as soon as practicable
of any Claim made against Indemnitee for which indemnification will or could be sought under this Agreement; provided, however, that any
failure or delay in giving such notice shall not relieve the Company of its obligations under this Agreement unless and to the extent
that (i) the Company is not aware of such Claim and (ii) the Company is materially prejudiced by such failure or delay. The written notice
to the Company shall include a description of the nature of and the facts underlying the Claim and be directed to the Chief Executive
Officer of the Company at the address shown on the signature page of this Agreement (or such other address as the Company shall designate
in writing to Indemnitee).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>No Presumptions; Burden of Proof</u>. For purposes of this Agreement, the termination of any Claim
by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere, or its equivalent,
shall not create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a
court has determined that indemnification is not permitted by applicable law. In addition, neither the failure of the Reviewing Party
to have made a determination as to whether Indemnitee has met any particular standard of conduct or had any particular belief, nor an
actual determination by the Reviewing Party that Indemnitee has not met such standard of conduct or did not have such belief, prior to
the commencement of legal proceedings by Indemnitee to secure a judicial determination that Indemnitee should be indemnified under applicable
law, shall be a defense to Indemnitee's claim or create a presumption that Indemnitee has not met any particular standard of conduct
or did not have any particular belief. In connection with any determination by the Reviewing Party or otherwise as to whether Indemnitee
is entitled to be indemnified hereunder, the burden of proof shall be on the Company to establish that Indemnitee is not so entitled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Notice to Insurers</u>. If, at the time of the receipt by the Company of a notice of a Claim pursuant
to <u>Section 2(b)</u> hereof, the Company has liability insurance in effect which may cover such Claim, the Company shall give prompt
written notice of the commencement of such Claim to the applicable insurers in accordance with the procedures set forth in each of the
policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee,
all amounts payable as a result of such action, suit, proceeding, inquiry or investigation in accordance with the terms of such policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Selection of Counsel</u>. In the event the Company is obligated hereunder to pay the Expenses of any
Claim, the Company shall be entitled to participate in the proceeding and assume the control of the defense of such Claim, with counsel
reasonably approved by Indemnitee (such approval shall not be unreasonably withheld, delayed or conditioned), upon the delivery to Indemnitee
of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of
such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred
by Indemnitee with respect to the same Claim; provided that, (i) Indemnitee shall have the right to employ Indemnitee's counsel
in any such Claim at Indemnitee's sole expense; (ii) Indemnitee shall have the right to employ Indemnitee's own counsel in
connection with such proceeding, at the expense of the Company, if such counsel serves in a review, observer, advice and counseling capacity
and does not otherwise materially control or participate in the defense of such Claim; and (iii) if the Company and Indemnitee have mutually
concluded that there is a conflict of interest between them in the conduct of the defense of such Claim, then Indemnitee is entitled to
retain its own counsel and the reasonable fees and expenses of Indemnitee's counsel reasonably approved by the Company (such approval
shall not be unreasonably withheld, delayed or conditioned) shall be at the expense of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Additional Indemnification Rights; Non-Exclusivity.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Scope</u>. The Company hereby agrees to indemnify Indemnitee for the Expenses of any Claim to the fullest
extent permitted by law, even if indemnification is not specifically authorized by the other provisions of this Agreement or any other
agreement, the Company's Certificate and Bylaws or by statute. In the event of any change after the date of this Agreement in any
applicable law, statute or rule which expands the right of a Wyoming corporation to indemnify a member of its board of directors or an
officer, employee, agent or fiduciary, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater
benefits afforded by such change. In the event of any change in any applicable law, statute or rule which narrows the right of a Wyoming
corporation to indemnify a member of its board of directors or an officer, employee, agent or fiduciary, such change, to the extent not
otherwise required by such law, statute or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties'
rights and obligations hereunder except as set forth in <u>Section 8(a)</u> hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Non-Exclusivity</u>. Notwithstanding anything in this Agreement, the indemnification provided by this
Agreement shall be in addition to any rights to which Indemnitee may be entitled under the Company's Certificate or Bylaws, any
agreement, any vote of stockholders or disinterested directors, the laws of the State of Wyoming, or otherwise. Notwithstanding anything
in this Agreement, the indemnification provided under this Agreement shall continue as to Indemnitee for any action Indemnitee took or
did not take while serving in an indemnified capacity even though Indemnitee may have ceased to serve in such capacity and indemnification
shall inure to the benefit of Indemnitee from and after Indemnitee's first day of service as a director with the Company or affiliation
with a director from and after the date such director commences services as a director with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>No Duplication of Payments</u>. Notwithstanding anything herein to the contrary, the Company shall
not be liable under this Agreement to make any payment in connection with any Claim made against Indemnitee to the extent Indemnitee has
otherwise actually received payment (under any insurance policy, any other agreement, the Company's Certificate and Bylaws or otherwise)
of the amounts otherwise indemnifiable hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Partial Indemnification</u>. If Indemnitee is entitled under any provision of this Agreement to indemnification
by the Company for any portion of Expenses incurred in connection with any Claim, but not, however, for all of the total amount thereof,
the Company shall nevertheless indemnify Indemnitee for the portion of such Expenses to which Indemnitee is entitled thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Mutual Acknowledgement</u>. The Company and Indemnitee acknowledge that in certain instances, applicable
law or public policy may prohibit the Company from indemnifying its directors, officers, employees, controlling persons, agents or fiduciaries
under this Agreement or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Liability Insurance</u>. During any period of time Indemnitee is entitled to indemnification rights
under this Agreement, the Company shall maintain liability insurance applicable to directors, officers, employees, control persons, agents
or fiduciaries, Indemnitee shall be covered by such policies in such a manner as to provide Indemnitee the same rights and benefits as
are accorded to the most favorably insured of the Company's directors, if Indemnitee is a director, or of the Company's officers,
if Indemnitee is not a director of the Company but is an officer; or of the Company's key employees, controlling persons, agents
or fiduciaries, if Indemnitee is not an officer or director but is a key employee, agent, control person, or fiduciary. Said liability
insurance shall provide coverage amounts of no less than $1 million and shall be held with an insurance carrier which the Board believes
is of financially sound condition. Further, the Company shall at all times maintain a cash reserve of $2 million as a self-insurance fund
to backstop any indemnification obligations pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Exceptions</u>. Any other provision herein to the contrary notwithstanding,
the Company shall not be obligated pursuant to the terms of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Claims Under Section 16(b)</u>. To indemnify Indemnitee for Expenses arising from or in connection
with any Claims for which a final decision by a court having jurisdiction in the matter determines that Indemnitee sold or purchased the
Company's securities in violation of Section 16(b) of the Exchange Act or any similar successor statute;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Compensation Recovery Claims</u>. To indemnify Indemnitee for Expenses arising from or in connection
with any Claims for any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation
or of any profits realized by Indemnitee from the sale of securities of the Company, as required under the Exchange Act (including any
such reimbursements that rise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of
2002, as amended (the **"Sarbanes-Oxley Act"**), or the payment to the Company of profits arising from the purchase and
sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Indemnitee Claims</u>. To indemnify Indemnitee for Expenses arising from or in connection with any
Claims initiated or brought voluntarily by Indemnitee not by way of defense, except with respect to Claims brought to establish or enforce
a right to indemnification under this Agreement, the Company's Certificate and Bylaws or any applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Unlawful Indemnification</u>. To indemnify Indemnitee for Expenses arising from or in connection with
any Claims for which a final decision by a court having jurisdiction in the matter determines that such indemnification is not lawful;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Fraud</u>. To indemnify Indemnitee for Expenses arising from or in connection with any Claims for which
a final decision by a court having jurisdiction in the matter determines that Indemnitee has committed fraud on the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Insurance</u>. To indemnify Indemnitee for which payment is actually and fully made to Indemnitee under
a valid and collectible insurance policy.

&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Period of Limitations</u>. No legal action shall be brought and no
cause of action shall be asserted by or in the right of the Company against Indemnitee or Indemnitee's estate, spouse, heirs, executors
or personal or legal representatives after the expiration of five (5) years from the date of accrual of such cause of action, and any
claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action
within such five (5) year period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause
of action, such shorter period shall govern.

&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Construction of Certain Phrases.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. For purposes of this Agreement, references to the **"Company"** shall include, in addition
to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or
merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, employees,
agents or fiduciaries, so that if Indemnitee is or was or may be deemed a director, officer, employee, agent, control person, or fiduciary
of such constituent corporation, or is or was or may be deemed to be serving at the request of such constituent corporation as a director,
officer, employee, control person, agent or fiduciary of another corporation, partnership, joint venture, employee benefit plan, trust
or other enterprise, Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting
or surviving corporation as Indemnitee would have with respect to such constituent corporation if its separate existence had continued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. For purposes of this Agreement, references to **"other enterprise"** shall include any
employee benefit plan of the Company; references to **"fines"** shall include any excise taxes assessed on Indemnitee with
respect to an employee benefit plan; and references to **"serving at the request of the Company"** shall include any service
as a director, officer, employee, agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer,
employee, agent or fiduciary with respect to an employee benefit plan of the Company, its participants or its beneficiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. For purposes of this Agreement a **"Change in Control"** shall be deemed to have occurred
if (i) any **"person"** (as such term is used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act), other than a
trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned directly or indirectly
by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, (A) who is or becomes
the beneficial owner, directly or indirectly, of securities of the Company representing 20% or more of the combined voting power of the
Company's then outstanding Voting Securities, increases beneficial ownership of such securities by 5% or more, or (B) becomes the **"beneficial owner"** (as defined in Rule 13d-3 under said Exchange Act), directly or indirectly, of securities of the
Company representing more than 30% of the total voting power represented by the Company's then outstanding Voting Securities, (ii)
during any period of two consecutive years, individuals who at the beginning of such period constitute the Board and any new director
whose election by the Board or nomination for election by the Company's stockholders was approved by a vote of at least two-thirds
(2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for
election was previously so approved, cease for any reason to constitute a majority thereof, or (iii) the stockholders of the Company approve
a merger or consolidation of the Company with any other corporation other than a merger or consolidation which would result in the Voting
Securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted
into Voting Securities of the surviving entity) at least two-thirds (2/3) of the total voting power represented by the Voting Securities
of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company
approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of (in one transaction
or a series of transactions) all or substantially all of the Company's assets. **"Voting Securities"** shall mean
any securities of the Company that vote generally in the election of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. For purposes of this Agreement, **"Independent Legal Counsel"** shall mean an attorney
or firm of attorneys, selected in accordance with the provisions of <u>Section 1(e)</u> hereof, who shall not have otherwise performed
services for the Company or Indemnitee within the last three (3) years (other than with respect to matters concerning the right of Indemnitee
under this Agreement, or of other indemnitees under similar indemnity agreements).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. For purposes of this Agreement, a **"Reviewing Party"** shall mean any appropriate person
or body consisting of a member or members of the Board or any other person or body appointed by the Board, who is not a party to the particular
Claim for which Indemnitee is seeking indemnification, such as a committee of the Board or Independent Legal Counsel.

&nbsp;&nbsp;&nbsp;&nbsp;**3.**  **<u>Counterparts</u>** . This Agreement may be executed in one or more counterparts, each of which
shall constitute an original.

&nbsp;&nbsp;&nbsp;&nbsp;**4.**  **<u>Binding Effect; Successors and Assigns</u>** . This Agreement shall be binding upon and inure to
the benefit of and be enforceable by the parties hereto and their respective successors, assigns, including any direct or indirect successor
by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs,
and personal and legal representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger,
consolidation or otherwise) to all, substantially all, or a substantial part, of the business and/or assets of the Company, by written
agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner
and to the same extent that the Company would be required to perform if no such succession had taken place. This Agreement shall continue
in effect with respect to Claims relating to Indemnifiable Events regardless of whether Indemnitee continues to serve as a director, officer,
employee, agent, controlling person, or fiduciary of the Company or of any other enterprise, including subsidiaries of the Company, at
the Company's request.

&nbsp;&nbsp;&nbsp;&nbsp;**5.**  **<u>Attorneys' Fees</u>** . In the event that any action is instituted by Indemnitee under this
Agreement or under any liability insurance policies maintained by the Company to enforce or interpret any of the terms hereof or thereof,
Indemnitee shall be entitled to be paid all Expenses incurred by Indemnitee with respect to such action if Indemnitee is ultimately successful
in such action. In the event of an action instituted by or in the name of the Company under this Agreement to enforce or interpret any
of the terms of this Agreement, Indemnitee shall be entitled to be paid Expenses incurred by Indemnitee in the defense of such action
(including costs and expenses incurred with respect to Indemnitee counterclaims and cross-claims made in such action), and shall be entitled
to the advancement of Expenses with respect to such action, in each case only to the extent that Indemnitee is ultimately successful in
such action.

&nbsp;&nbsp;&nbsp;&nbsp;**6.**  **<u>Notice</u>** . All notices and other communications required or permitted hereunder shall be in
writing, shall be effective when given, and shall in any event be deemed to be given (a) five (5) days after deposit with the U.S. Postal
Service or other applicable postal service, if delivered by first class mail, postage prepaid, (b) upon delivery, if delivered by hand,
(c) one business day after the business day of deposit with Federal Express or similar overnight courier, freight prepaid, or (d) one
day after the business day of delivery by facsimile transmission, if deliverable by facsimile transmission, with copy by first class mail,
postage prepaid, and shall be addressed if to Indemnitee, at Indemnitee's address as set forth beneath the Indemnitee's signature
to this Agreement and if to the Company at the address of its principal corporate offices (attention: Secretary) or at such other address
as such party may designate by ten (10) days' advance written notice to the other party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;**7.**  **<u>Severability</u>** . The provisions of this Agreement shall be severable in the event that any
of the provisions hereof (including any provision within a single section, paragraph or sentence) are held by a court of competent
jurisdiction to be invalid, void or otherwise unenforceable, and the remaining provisions hereof shall remain enforceable to the fullest
extent permitted by law. Furthermore, to the fullest extent possible, this Agreement (including, without limitations, each portion of
this Agreement containing any provision held to be invalid, void or otherwise unenforceable, that is not itself invalid, void or unenforceable)
shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

&nbsp;&nbsp;&nbsp;&nbsp;**8.**  **<u>Resolution of Dispute</u>** . This Agreement shall be governed by and its provisions construed
and enforced in accordance with the laws of the State of Wyoming, without regard to the conflict of laws principles thereof. To the fullest
extent permitted by law, and unless the Company consents in writing to the selection of an alternative forum, the Courts of the State
of Wyoming shall be the sole and exclusive forum for all purposes in connection with any dispute regarding, arising out of or relating
to this Agreement (including without limitation its validity, interpretation, performance, enforcement, termination and damages).

&nbsp;&nbsp;&nbsp;&nbsp;**9.**  **<u>Subrogation</u>** . In the event of payment under this Agreement, the Company shall be subrogated
to the extent of such payment to all of the rights of recovery of Indemnitee who shall execute all documents required and shall do all
acts that may be necessary to secure such rights and to enable the Company effectively to bring suit to enforce such rights.

&nbsp;&nbsp;&nbsp;&nbsp;**10.**  **<u>Amendment and Termination</u>** . No amendment, modification, termination or cancellation of this
Agreement shall be effective unless it is in writing signed by the parties to be bound thereby. Notice of same shall be provided to all
parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions
hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

&nbsp;&nbsp;&nbsp;&nbsp;**11.**  **<u>Corporate Authority</u>** . The Board has approved the terms of this Agreement.

**IN WITNESS WHEREOF**, the parties hereto have executed this Indemnification Agreement on and as of the day and year first above written.

---

| | |
|:---|:---|
| **VOCODIA HOLDINGS CORP** | **VOCODIA HOLDINGS CORP** |
| By: |  |
|  | Brian Podolak |
|  | Chief Executive Officer |
| **INDEMNITTEE:** | **INDEMNITTEE:** |
| Name: | Ned L. Siegel |

---

## Exhibit 14.1

**Exhibit 14.1**

**CODE OF CONDUCT OF**

**VOCODIA HOLDINGS CORP**

**I.** **Covered Persons and Purpose**

This code of conduct (this "**Code**") for Vocodia Holdings Corp, a Wyoming Corporation (the "**Company**"), applies to the Company's directors, officers, controllers, consultants and employees (collectively, the "**Covered Persons**") and shall be publicly available for the purpose of promoting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest
between personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· full, fair, accurate, timely and understandable disclosure in reports and documents that the Company files
with, or submits to, the Securities and Exchange Commission ()"**SEC**") and the Nasdaq Capital Market ()"**NASDAQ** ")
and in other public communications made by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· compliance with applicable laws and governmental rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the prompt internal reporting of violations of this Code to an appropriate person or persons identified
in this Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· accountability for adherence to this Code.

Each Covered Person should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest. This Code is intended to comply with the requirements of SEC Regulation S-K, Item 406 as well as SEC Rule 10A-3(b)(3) and NASDAQ Listing Rule 5610.

**II.** **Compliance with Law**

The Company requires that all Covered Persons strictly adhere to all applicable local, state, and federal laws. If a Covered Person has questions about what laws we are subject to, or about how to comply with certain laws, it is important that such Covered Person shall alert an officer of the Company regarding such question. The Company relies on Covered Persons not only to act ethically, but also to assist fellow Covered Persons in following the law.

When appropriate, the Company will provide information and training to promote compliance with laws, rules and regulations, including insider-trading laws.

**III.** **Conflicts of Interest**

The Company's Covered Persons are expected to make or participate in business decisions and actions based on the best interests of the Company as a whole, and not based on personal relationships or personal gain. A "conflict of interest" exists when a person's private interest interferes in any way with the interest of the Company, or even when a private interest creates an appearance of impropriety. A conflict situation can arise when Covered Persons have interests that make it difficult for Covered Persons to perform their work objectively, or when a Covered Person receives improper personal benefits as a result of his or her position with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· It is almost always a conflict of interest for a Covered Person to work simultaneously for a competitor,
customer, or supplier.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· It is also almost always a conflict of interest for a full-time Company employee to have a second job
elsewhere, whether or not with a competitor, customer or supplier unless you have notified the president of the Company of the second
job, and the president approves.

Covered Persons should avoid any relationship that would cause a conflict of interest with their duties and responsibilities at the Company. All Covered Persons are expected to disclose to management any situations that may involve inappropriate or improper conflicts of interests affecting them personally or affecting other Covered Persons.

Members of the Company's Board of Directors have a special responsibility to the Company and the Stockholders. To avoid conflicts of interest, directors are required to disclose to their fellow directors any personal interest they may have in a transaction being considered by the Board of Directors and, when appropriate, to recuse themselves from any decision involving a conflict of interest. Unless and until such responsibility is delegated to a committee of the Board of Directors, the Board of Directors as a whole is charged with reviewing and approving all related party transactions and potential conflict of interest situations. Waivers of a conflict of interest or this Code involving executive officers and directors require approval by the Board of Directors. Any such waiver will be disclosed to our stockholders within four (4) business days, along with the reasons for the waiver, through the filing of a Form 8-K.

Each Covered Person must not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· use his personal influence or personal relationships improperly to influence decisions or financial reporting
by the Company whereby the Covered Person would benefit personally to the detriment of the Company;

· cause the Company to take action, or fail to take action, for the individual personal benefit of the Covered
Person rather than for the benefit of the Company; or

· use material non-public knowledge to trade personally, or cause others to trade personally, in contemplation
of the market effect of such non-public knowledge.

Covered Persons should be aware that conflicts are also likely to exist where a member of his or her family engages in an act or has a relationship that would present a conflict for such Covered Person.

Any discovery of a potential or existing conflict of interest should be immediately disclosed to management.

**IV.** **Disclosure and Compliance**

Each Covered Person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· should be familiar with the disclosure requirements generally applicable to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· should not knowingly misrepresent, or cause others to misrepresent, facts about the Company to others,
whether within or outside the Company, including to the Company's directors and auditors, and to governmental regulators, and self-regulatory
organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· should, to the extent appropriate within his/her area of responsibility, consult with other officers and
employees of the Company and the Company's investment adviser or sub-adviser with the goal of promoting full, fair, accurate, timely
and understandable disclosure in the reports and documents the Company files with, or submits to, the SEC or NASDAQ and in other public
communications made by the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· has the responsibility to promote compliance with the standards and restrictions imposed by applicable
laws, rules and regulations.

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Each Covered Person must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· upon adoption of this Code (or thereafter as applicable, upon becoming a Covered Person), affirm in writing
to the Board of Directors that he/she has received, read, and understands this Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· annually thereafter affirm in writing to the Board of Directors that he/she has complied with the requirements
of this Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not retaliate against any of the Company's or its Service Providers' employees or any other
Covered Person or their affiliated persons for reports of potential violations of this Code that are made in good faith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· notify the Audit committee promptly if he/she knows or learns of any violation of this Code. Failure to
do so is itself a violation of this Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· report promptly any change in his/her affiliations.

The audit committee of the Board of Directors (the "**Committee**") is responsible for granting waivers and determining sanctions, as appropriate, provided that any approvals, interpretations or waivers sought by the Company's principal executive officers or directors will be considered by the Board of Directors.

The Company will follow these procedures in investigating and enforcing this Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the audit committee will take any action it considers appropriate to investigate any actual or potential
violations reported to it;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· if, after such investigation, the audit committee believes that no violation has occurred, the audit committee
shall meet with or contact the person reporting the violation for the purposes of informing such person of the reason for not taking action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· any matter that the audit committee concludes is a violation will be reported to the Board of Directors.
If the committee concludes that a violation has occurred, it will inform and make a recommendation to the full Board of Directors, which
will consider appropriate action, which may include review of, and appropriate modifications to: applicable policies and procedures; notification
to appropriate personnel, Covered Person, or a third party; a recommendation to a third party to dismiss the Covered Person; or dismissal
of the Covered Person as an officer of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the audit committee will be responsible for granting waivers, as appropriate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· any changes to, or waivers of, this Code will, to the extent required, be disclosed as provided by SEC
rules.

The audit committee, in determining whether waivers should be granted and whether violations have occurred, and the Board of Directors, in rendering decisions and interpretations and in conducting investigations of potential violations under this Code, may, at their discretion, consult with such other persons as they may determine to be appropriate, including a senior legal officer of the Company or its investment adviser, counsel to the Company, independent auditors or other consultants, subject to any requirement to seek pre-approval from the Committee for the retention of independent auditors to perform permissible non-audit services.

**V.** **Waivers**

A Covered Person may request a waiver of any of the provisions of this Code by submitting a written request for such waiver to the Committee setting forth the basis for such request and explaining how the waiver would be consistent with the standards of conduct described herein. The committee shall review such request and make a determination thereon in writing, which shall be binding, and shall inform the Board of Directors of the granting of any waiver.

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In determining whether to waive any provisions of this Code, the Committee shall consider whether the proposed waiver is consistent with honest and ethical conduct.

The audit committee shall submit an annual report to the Board of Directors regarding waivers granted.

**VI.** **Other Policies and Procedures**

This Code shall be the sole "code of ethics" adopted by the Company for purposes of Section 406 of the Sarbanes-Oxley Act of 2002, as amended, and the rules and forms applicable to it thereunder and the sole "code of conduct" adopted by the Company under Rule 5610 of the NASDAQ listing rules. Insofar as other policies or procedures of the Company govern or purport to govern the behavior or activities of the Covered Persons who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code.

Any amendments to this Code must be approved or ratified by a majority vote of the Board of Directors, including a majority of independent directors.

This Code is intended solely for the internal use by the Company and does not constitute an admission, by or on behalf of any person, as to any fact, circumstance or legal conclusion.

**VII.** **Confidentiality**

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law, regulation or this Code, such matters shall not be disclosed to anyone other than the Board of Directors and its counsel or independent auditors, attorneys, or other consultants retained by the Board of Directors.

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## Exhibit 21.1

Exhibit 21.1

<u>List of Subsidiaries</u> 

---

| | |
|:---|:---|
| Subsidiary | State of Incorporation or Organization |
| Vocodia FL, LLC | Florida |
| Vocodia JV, LLC | Delaware |
| Click Fish Media, Inc. | Flordia |

---

## Exhibit 23.1

**Exhibit 23.1**

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Vocodia Holdings Corp

Boca Raton, Florida

We hereby consent to the use of our report dated August 24, 2022, on the financial statements at and for the years ended December 31, 2021 and 2020, included herein on this Registration Statement of Vocodia Holdings Corp on Form S-1. Our report contains an explanatory paragraph regarding the Company's ability to continue as a going concern.

We also consent to the reference to us under the caption "Experts" in the Prospectus.

/s/ Daszkal Bolton LLP

Boca Raton, Florida

January 31, 2023

## Exhibit 99.1

**Exhibit 99.1**

**CONSENT OF DIRECTOR NOMINEE**

Pursuant to Rule 438 under the Securities Act of 1933, as amended (the "Securities Act"), I hereby consent to being named as a person who will be appointed to the Board of Directors of Vocodia Holdings Corp, a Wyoming corporation (the "Company"), and to all other references to me, included in the Company's Registration Statement on Form S-1 filed with the U.S. Securities and Exchange Commission under the Securities Act, and any and all public filings of, and any and all amendments (including post-effective amendments) to such Registration Statement and in any registration statement for the same securities offering filed pursuant to Rule 462(b) under the Securities Act and any and all amendments (including post-effective amendments) thereto (collectively, the "Registration Statement"). I hereby consent to the filing of this consent as an exhibit to the Registration Statement.

---

| | |
|:---|:---|
| Dated: January 27, 2023 | /s/ Lourdes Felix |
|  | Lourdes Felix |

---

## Exhibit 99.2

**Exhibit 99.2**

**CONSENT OF DIRECTOR NOMINEE**

Pursuant to Rule 438 under the Securities Act of 1933, as amended (the "Securities Act"), I hereby consent to being named as a person who will be appointed to the Board of Directors of Vocodia Holdings Corp, a Wyoming corporation (the "Company"), and to all other references to me, included in the Company's Registration Statement on Form S-1 filed with the U.S. Securities and Exchange Commission under the Securities Act, and any and all public filings of, and any and all amendments (including post-effective amendments) to such Registration Statement and in any registration statement for the same securities offering filed pursuant to Rule 462(b) under the Securities Act and any and all amendments (including post-effective amendments) thereto (collectively, the "Registration Statement"). I hereby consent to the filing of this consent as an exhibit to the Registration Statement.

---

| | |
|:---|:---|
| Dated: January 27, 2023 | /s/ Randall Miles |
|  | Randall Miles |

---

## Exhibit 99.3

**Exhibit 99.3**

**CONSENT OF DIRECTOR NOMINEE**

Pursuant to Rule 438 under the Securities Act of 1933, as amended (the "Securities Act"), I hereby consent to being named as a person who will be appointed to the Board of Directors of Vocodia Holdings Corp, a Wyoming corporation (the "Company"), and to all other references to me, included in the Company's Registration Statement on Form S-1 filed with the U.S. Securities and Exchange Commission under the Securities Act, and any and all public filings of, and any and all amendments (including post-effective amendments) to such Registration Statement and in any registration statement for the same securities offering filed pursuant to Rule 462(b) under the Securities Act and any and all amendments (including post-effective amendments) thereto (collectively, the "Registration Statement"). I hereby consent to the filing of this consent as an exhibit to the Registration Statement.

---

| | |
|:---|:---|
| Dated: January 27, 2023 | /s/ Ned L. Siegel |
|  | Ned L. Siegel |

---

## Ex-Filing

**Exhibit 107**

**CALCULATION OF FILING FEE TABLE**

**<u>Form S-1</u>**

(Form Type)

**<u>Vocodia Holdings Corp</u>**

(Exact Name of Registrant as Specified in its Charter)

**Table 1: Newly Registered Securities**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Security<br> Type** | **Fee Calculation Rule** | **Amount<br> Registered** | **Proposed<br> Maximum<br> Offering<br> Price Per<br> Share** | **Maximum <br> Aggregate <br> Offering <br> Price** <sup>(1)</sup> | **Fee Rate** | **Amount of <br> Registration <br> Fee** |
| Fees to Be Paid | Equity Common stock, par value $0.0001 per share <sup>(1)</sup> | Rule 457(o) |  | $- | $22178583 | $0.0001102 | $2444.08 |
| Fees to Be Paid | Equity Representative's Warrants <sup>(3)</sup> | Rule 457(g) |  | $- | $- | $0.0001102 | $- |
| Fees to Be Paid | Equity Common Stock underlying Representative's Warrants <sup>(2)(3)</sup> | Rule 457(g) and Rule 457(o) |  | $- | $798428.99 | $0.0001102 | $87.99 |
|  | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  | $**22977011.99** |  |  |
|  | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** |  |  |  | $0 |
|  | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** |  |  |  | $0 |
|  | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  | $**2532.07** |

---

(1) Estimated solely for the purpose of calculating the amount of the registration
fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act"). Pursuant to Rule 416(a) under
the Securities Act, there is also being registered hereby such indeterminate number of additional shares of common stock as may be issued
or issuable because of stock splits, stock dividends and similar transactions.

(2) The Registrant will issue to Alexander Capital, L.P., the representative
of the underwriters, warrants to purchase up to a number of shares of common stock equal to 3% of the number of shares of common stock
sold in the offering. The exercise price of the warrants is equal to 120% of the offering price of the shares of common stock offered
hereby, including shares sold to cover over-allotments, if any. As estimated solely for the purpose of calculating the registration fee
pursuant to Rule 457(g) under the Securities Act, the proposed maximum aggregate offering price of the representative's warrants
is $798,428.988, which is equal to 120% of $665,357.49 (3% of the proposed maximum aggregate offering price of $22,178,583).

(3) No additional registration fee is payable pursuant to Rule 457(g) under
the Securities Act.

## Corresp

![](cm250_correspimg01.jpg)

January 31, 2023

<u>Via EDGAR</u>

Jan Woo and Aliya Ishmukhamedova

U.S. Securities and Exchange Commission

Division of Corporation Finance

Office of Technology

100 F Street, N.E.

Washington, D.C. 20549

---

| | |
|:---|:---|
| **Re:** | **Vocodia Holdings Corp** |
|  | **Amendment No. 2 to Draft Registration Statement on Form S-1**<br> **Submitted December 16, 2022** |
|  | **CIK No. 0001880431** |

---

Ladies and Gentlemen:

On behalf of Vocodia Holdings Corp (the "**Company**"), we have set forth below responses to the comments of the staff (the "**Staff**") of the Securities and Exchange Commission (the "**SEC**") contained in its letter dated January 3, 2023, with respect to the Company's Amendment No. 2 to Draft Registration Statement on Form S-1 (the "**Form S-1**") as noted above.

For your convenience, the text of the Staff's comments is set forth below in bold, followed in each case by the Company's responses. Please note that all references to page numbers in the responses are references to the page numbers in the Company's Amendment No. 3 to Registration Statement on Form S-1 (the "**Form S-1/A3**"), filed concurrently with the submission of this letter in response to the Staff's comments. Capitalized terms used but not defined in this letter have the meanings ascribed to such terms in Form S-1/A3.

**<u>Amendment No.2 to Draft Registration Statement on Form S-1</u>**

**<u>Risk Factors</u>**

**<u>Our common stocks market price may experience rapid and substantial volatility price fluctuation, page 25</u>**

**1. Please revise your risk factor in response to prior comment 7 to indicate that there have been recent instances of extreme stock price run-ups followed by rapid price declines and stock price volatility seemingly unrelated to company performance following a number of recent initial public offerings, particularly among companies with relatively smaller public floats. Further revise to indicate that your common shares may be subject to rapid and substantial price volatility, low volumes of trades and large spreads in bid and ask prices. Such volatility, including any stock-run up, may be unrelated to your actual or expected operating performance and financial condition or prospects, making it difficult for prospective investors to assess the rapidly changing value of your common shares.**

**<u>Response</u>:** In response to this comment, the Company advises the Staff that we have added the additional disclosure requested by the Staff to the applicable risk factor titled, "Our common stock's market price may experience rapid and substantial volatility price fluctuations," on page 33 of the Form S-1/A3.

Vocodia Holdings Corp

January 31, 2023

**<u>Management's Discussion and Analysis of Financial Condition and Results of Operations, page 38</u>**

**2. Please clarify if the DISAs for the alpha and beta testing periods that "ranged from 10 to 72 for each client, depending on the campaign, averaging around 15 per client" were the actual sales ("conversions"). If not, please disclose the total number of paying customers and the number of DISAs sold (conversions) for all periods presented.**

**<u>Response</u>:** In response to this comment, the Company advises the Staff that the DISAs for the alpha and beta testing periods that "ranged from 10 to 72 for each client, depending on the campaign, averaging around 15 per client" were actual sales ("conversions"). The Company required each of these clients to pay for the services that the Company provided. However, the fee for the Company's services during the testing period was significantly reduced, since each of these clients of the Company were also the Company's test subjects. The Company has modified the disclosure accordingly in the Form S-1/A3 on page 6 to clarify.

**<u>Results of Operations</u>**

**<u>Fiscal Year December 31, 2021 Compared to Fiscal Year December 30, 2020, page 40</u>**

**3. Please revise your disclosures to explain the changes in each of the expense categories presented in your income statement as compared to the prior periods presented. Refer to Item 303(b) of Regulation S-K. Ensure you also provide explanations for changes in each revenue and expense line item when you update your financial statements in future filings.**

**<u>Response</u>:** In response to this comment, the Company advises the Staff that it has revised the requested disclosures with regard to each of the expense categories presented in the Company's income statement. The revised disclosures include: Stock Compensation Expense, Payroll and Related Expenses, Advertising, Depreciation and Amortization and Professional Fees on pages 59 of the Form S-1/A3. The Form S-1/A3 also includes updated financial statements (unaudited) through September 30, 2022, and the required disclosures under Item 303 of Regulation S-K.

**<u>Loss on Investments (Other Income), page 41</u>**

**4. Your disclosure indicates that the $1,176,875 increase was due to losses on prospective investments. Please revise your disclosure to clarify the nature of these prospective investments and the expenses or losses incurred.**

**<u>Response</u>:** In response to this comment, the Company advises the Staff the requested disclosure has been revised to clarify the nature of these prospective investments and the expenses or losses incurred by the Company of $1,176,875 during the respective period in question on pages 49, 53, and 60 of the Form S-1/A3. Please be advised, as described in our additional disclosures, certain losses are due to a return of capital to investors who made investments in a predecessor of the Company.

Vocodia Holdings Corp

January 31, 2023

**<u>Financial Statements</u>**

**<u>Notes to Financial Statements</u>**

**<u>Note 2 - Summary of Significant Accounting Policies</u>**

**<u>Principles of Combination, page F-8</u>**

**5.** **In your response to prior comment 8 you state that "Mr. Sposato had a controlling interest in Vocodia Holdings Corp., prior to the effective date (August 1, 2022) of the Contribution Agreement, due to Mr. Sposato's common and preferred share ownership. In addition to Mr. Sposato's common shares, he held 2 million preferred shares, each worth 1,000 common shares, placing Mr. Sposato well within the parameters of a controlling interest holder." Clarify why you consider these preferred shares to be outstanding voting interests at the effective date of the Contribution Agreement, including when the shares were issued and the specific rights of the holders. Refer to ASC 805-50-20 and ASC 810- 10-15-8. In this regard, we note your disclosure on page 62 that the Articles of Amendment providing the preferred stockholders a 1-to-1000 conversion ratio was dated October 21, 2022. Clarify the specific rights of the preferred shareholders at the effective date of the Contribution Agreement and those granted by this amendment. Please also clarify the percentage of total voting interests held by Mr. Sposato at the effective date of the Contribution Agreement.** 

**<u>Response</u>:** In response to this comment, the Company advises the Staff that it has revised the disclosure on page 88 of the Form S-1/A3, to clarify that the only rights that preferred stockholders have which differentiate them from common stockholders are the 1-to-1000 voting rights. The remainder of the rights for both classes of stockholders are the same, outside of the voting rights as noted above. In accordance with the above, together Messrs. Sposato and Podolak both own the same number of shares of the Company's stock and the same percentage of total voting interests at the effective date of the Contribution Agreement.

**6.** **In your response to prior comment 8 you state that you are relying on ASC 805-50-45-5 to determine the presentation of comparative financial statements for prior years. As such, clarify why financial statements presented for periods prior to the Contribution Agreement will be labelled "Consolidated." In this regard, ASC 805-50-45-5 states that "financial statements and financial information presented for prior years also shall be retrospectively adjusted to furnish comparative information and all adjusted financial statements and financial summaries shall indicate clearly that financial data of previously separate entities are combined." Clarify why you intend to label these prior periods as Consolidated rather than Combined.** 

**<u>Response</u>:** In response to this comment, the Company advises the Staff that it has determined that some of the financial statements were incorrectly labeled as "consolidated", and we have revised the Form S-1/A3 to label them as "combined", in accordance with ASC 805-50-45-5.

**7.** **Revise your disclosures to describe the date and the terms of the Contribution Agreement pursuant to which Click Fish Media, Inc. became a wholly owned subsidiary of Vocodia Holdings Corp. Describe your accounting for this transaction, including the retrospective presentation in your financial statements. Please also, disclose how Mr. Sposato had ownership of a majority voting interest in each entity at the effective date of the Contribution Agreement.** 

**<u>Response</u>:** In response to this comment, the Company advises the Staff that the Company acquired 100% ownership in Click Fish Media, Inc. on August 1, 2022. The Company paid $10.00 in exchange for all of the outstanding capital stock of Click Fish. The transaction was not accounted for in 2021 and is instead being accounted for in 2022. The retrospective presentation of the Company and Click Fish Media, Inc. are presented on a combined basis in our 2021 financials. The Company has revised the disclosures on pages 1, 47, 65, and 86 of the Form S-1/A3 in response to this comment.

**<u>Note 6 - Income Taxes, page F-13</u>**

**8.** **We note your response to prior comment 16. If there is no income tax expense (benefit) recognized in your income statement on page F-14, please revise your footnote disclosure to exclude disclosure of components of income tax expense (benefit) for the years ended December 31, 2021 and 2020. In this regard, the net income tax expense (benefit) reflected in your footnote should agree to the net income tax expense (benefit) reflected in your income statement on page F-4.** 

**<u>Response</u>:** In response to this comment, the Company advises the Staff that we have removed the disclosure of components of income tax expense (benefit) for the years ended December 31, 2021 and 2020 in Note 7 in its entirety of the Form S-1/A3.

We trust that the above is responsive to your comments. Should you have any questions relating to the foregoing or wish to discuss any aspect of the Company's filing, please contact me at 646-838-1310.

---

| |
|:---|
| Sincerely, |
| */s/Ross Carmel* |
| Ross Carmel, Esq. |
| Carmel, Milazzo & Feil LLP |

---